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FEDERAk RBSERVE statistical release •r*iKfg$>' H.3 (502) For Immediate Release Table 1 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve requirements! Averages of daily figures Reserves'of depository institutions " L Monetary base3j Period total? 1 non borrowed I required millions of dollars jbillions of dollars1 seasonally adjusted 1 AUG. Reserves of depository institutions total?" I non borrowed I required millions of dollars not seasonally adjusted 1 , 1983 Monetary base3 billions of dollars 1982—JUNE JULY AUG. SEPT. OCT. MO?. DEC. 38,955 39,007 39,205 39,656 39,932 40,408 40,783 37,750 38,315 38,690 38,723 39,454 39,787 40,149 38,647 38,693 38,893 39,273 39,528 40,006 40,283 169.3 169,9 170.9 172.1 173.2 174.3 175,6 38,164 38,530 38,609 39,356 39,997 40,679 41,560 36,960 37,838 38,093 38,423 39,519 40,058 40,926 37,856 38,216 38,296 38,973 39,592 40,277 41,059 168.5 170.4 170.7 171.7 173.2 175.4 178.9 1983—J AN. FEB, MAR. APR. 40,119 40,341 41,003 41,302 41,238 41,719 39,589 39,758 40,210 40,293 40,286 40,083 39,571 39,905 40,570 40,826 40,789 41,239 176,3 178.0 180,2 181.3 182.8 184,3 42,216 40,227 40,230 41,048 40,706 40,840 41,686 39,644 39,438 40,039 39,754 39,204 41,668 39,791 39,797 40,572 40,257 40,360 177.7 175.9 177.7 180.3 181.7 183.5 29 41,580 41,452 41,275 42,157 41,944 40,462 40,545 39,464 40,445 39,842 41,104 40,828 40,925 41,748 41,459 183,9 183.9 183.8 184.7 184.8 40,638 40,003 40,300 41,476 41,531 39,520 39,096 38,489 39,764 39,429 40,162 39,379 39,950 41,067 41,046 182.3 183.3 183.3 183.9 183.2 6 13 P 20 P 27 P 42,187 41,051 ; 42,487 41,945 39,953 39,904 41,254 40,556 41,333 40,579 42,182 41,576 185.1 183,8 185.6 185.3 41,398 40,142 42,323 41,758 39,164 38,995 41,090 40,369 40,544 39,670 42,018 41,389 186.7 185.0 186.3 184.8 SAY JUNE REEK ENDING: 1983—JOHE 1 8 15 22 JUL! i 1. 1—• . —i. 1/ RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OP MEMBER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITORY INSTITUTIONS. DISCONTINUITIES ASSOCIATED WITH THE IBPLEHENTATION OP THE MONETARY CONTROL ACT, THE INCLUSION OP EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES IN REGULATION D HAVE BEEN REMOVED. 2/ RESERVE BALANCES WITH PEDERAL RESERVE BANKS PLUS VAULT CASH AT INSTITUTIONS WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS. 3/ CONSISTS OF RESERVE BALANCES AND SERVICE-RELATED BALANCES AND ADJUSTMENTS AT FEDERAL RESERVE BANKS IN THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS EARLIER USED TO SATISFY RESERVE REQUIREMENTS AT ALL DEPOSITORY INSTITUTIONS PLUS CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS. NOTE: HISTORICAL DATA ARE AVAILABLE FROM THE BANKING SECTION, DIVISION OF RESEARCH AND STATISTICS, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, WASHINGTON, D.C 20551. H.3 Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS Not adjusted for changes in reserve requirements Average of daily figures, not seasonally adjusted Reserves of depository institutions1 Period total2 nonborrowed required Monetary base3 millions of dollars 1982—JUNE JULY AUG. SEPT, OCT. NOV. DEC 39,565 39,967 40,178 39,962 110,587 11,199 41,853 38,360 39,275 39,662 39,028 40,109 40,578 41,219 39,257 39,653 39,866 39,578 40,182 40,797 41,353 170.5 172.4 172.8 172.4 173.8 176.0 179.3 1983—JAN. FEB. MAR. APR. HAY JUNE 41,864 39,798 38,035 38,650 38,282 38,415 41,334 39,215 37,243 37,640 37,330 36,779 41,316 39,362 37,602 38,174 37,833 37,934 177.9 176.0 175.9 178.4 179.8 181.6 1 8 15 22 29 38,219 37,644 37,928 39,000 39,042 37,101 36,737 36,117 37,288 36,940 37,743 37,020 37,578 38,591 38,557 180.4 181.4 181.5 181.9 181.3 6 13 P 20 P 27 P 38,923 37,717 39,819 39,260 36,689 36,570 38,586 37,871 38,069 37,245 39,514 38,891 184.7 183.1 184.4 182.9 MEEK ENDING: 1983—JUNE JULY 1/ RESERVES OF DEPOSITORY INSTITUTIONS SERIES REFLECT ACTUAL RESERVE REQUIREHENT PERCENTAGES WITH NO ADJUSTHBNTS TO ELIHINATE THE EFFECT OF CHANGES IN REGULATION D, INCLUDING CHANGES ASSOCIATED WITH THE IHPLEHENTATION OF THE HONETAHY CONTROL ACT. INCLUDES REQUIRED RESERVES OF HEHBER BANKS AND EDGE ACT CORPORATIONS AND, BEGINNING NOVEMBER 13, 1980, OTHER DEPOSITORY INSTITUTIONS. UNDER THE TRANSITIONAL PHASE-IN PROGRAM OF THE MONETARY CONTROL ACT OF 1980 AND PROVISIONS OF THE DEPOSITORY INSTITUTIONS ACT OF 1982, THE NET CHANGES IN REQUIRED RESERVES OF DEPOSITORY INSTITUTIONS HAVE BEEN AS FOLLOWS: EFFECTIVE NOVEMBER 13, 1980 A REDUCTION OF $2.9 BILLION; FEBRUARY 12, 1981, AN INCREASE OF $245 MILLION; HARCH 12, 1981, AN INCREASE OF $75 MILLION; MAY 14, 1981, AN INCREASE OF $245 MILLION; SEPTEMBER 3, 1981, A REDUCTION OF $1.1 BILLIONNOVEMBER 12, 1981, AN INCREASE OF $210 MILLION; JANUARY 14, 1982, A REDUCTION OF $60 MILLION; FEBRUARY 11* 1982 AH INCREASE OF $170 MIILION; HARCH 4, 1982, AN ESTIHATED REDUCTION OF $2.0 BILLION; MAY 13, 1982, AN ESTIMATED INCREASE OF $150 MILLION; AUGUST 12, 1982, AN ESTIMATED INCREASE OF *140 MILLION; SEPTEMBER 2, 1982, AN ESTIMATED REDUCTION OF $1.2 BILLION; OCTOBER 28, 1982, AN ESTIHATED REDUCTION $100 MILLION; DECEMBEP 23, 1982, AN ESTIHATED REDUCTION OF $800 MILLION; AND HARCH 3, 1983, AN ESTIHATED REDUCTION OF $1.9 BILLION. BEGINNING WITH THE WEEK ENDED DECEMBER 23, 1981, RESERVE AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF RESBRVABLE LIABILITIES TO INTERNATIONAL BANKING FACILITIES (IBFS). ON THE BASIS OF REPORTS OF LIABILITIES TRANSFERRED TO IBFS BY U.S. COMMERCIAL BANKS AND AND AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIHATED THAT REQUIRED RESERVES WERE LOWERED ON AVERAGE BY $60 TO $90 MILLION IN DECEMBER 1981 AND $180 TO $230 MILLION IN JANUARY 1982, MOSTLY REFLECTING K REDUCTION IN RESBRVABLE EUROCURRENCY TRANSACTIONS. ALSO, BEGINNING WITH THE WEEK ENDING APRIL 20, 1983, REQUIRED RESERVES WERE REDUCED AN ESTIMATED $80 MILLION AS A RESULT OF THE ELIMINATION OF RESERVE REQUIREMENTS ON NONPERSONAL TIME DEPOSITS WITH MATURITIES OF 2-1/2 YEARS OR MORE TO LESS THAN 3-1/2 YEARS. I^USJ. 5 WITH 2/ RESERVE BALANCES WITH FEDERAL RESERVE BANKS PLUS VAULT CASH AT INSTITUTIONS WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS. 3/ CONSISTS OF RESERVE BALANCES AND SERVICE-RELATED BALANCES AND ADJUSTMENTS AT FEDERAL RESERVE BANKS IN THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS EARLIER USED TO SATISFY RESERVE REQUIREMENTS AT ALL DEPOSITORY INSTITUTIONS PLUS CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS.
@FedFRASER