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FEDERAL RESERVE statisi~R~H!T H.3~ Table 1 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND mE JIONETAtrt BASE Adjueted for changee In .....,... requi-te' A-age• of dally flgurn, _ . , Y ad)uated unleM notad otherwl• Mllllona of dollare .,... ~of tot8l" IIOI!IIonowM lnetftullone requiNd 11011bon0wedplua DEC. 1988--JAJ. .PEB. liAR. APR. IIU JUNE JULY PB !»8,499 !>8,810 !>8,1:115 59,466 59,053 !>8,722 57,827 58,163 57,874 58,523 58,4628 57,944 58,021 58,295 5tl,.l83 58,973 59,458 !>9,573 59,760 bO,l74 &0,365 b0,6J7 61,246 MoM!My . . . . NSA• m.ndad CNdlt' 1987--JULY lUG. SKPT. OCT. NOV. - AUGUST 57,738 tot.~ 11, 1988 flam...;~--_. MIA extended OIWCIIt" 58,428 !»8,021 58,338 58,129 57,693 761 1,032 793 1,129 923 1,029 250,409 251,919 253,0211 255,2!16 256,9Jtl 257,928 6l:l 6117 9110 943 625 28l 279 231 189 126 111 93 58,376 59,177 58,009 57,J80 57,787 57,555 57,806 58,748 59,382 59,487 60,004 59,894 60,108 60,3114 58,163 58,41t0 58,832 59,515 59,325 59,750 60,237 1,295 1,1JJ 929 859 1,0110 888 1,009 260,721 262,019 263,315 265,809 266,9.llt 268,309 270,67f! 1,082 396 1,752 2,99J 2,578 J,08J 3,440 59 75 119 146 246 376 372 lOS 1,471 2,624 2,107 2,554 2,sj1 61,117 61,360 57,4661 58,092 59,800 &0,755 60,256 60,1J1 861 1,230 270,110 270,97.! 3,656 3,268 352 39Q 2,340 2,663 61,263 57,924 60,672 60,5118 715 271,301 3,339 407 2,741 58,82:l 51,118 311 19' 1l2 409 1149 39' 483 1'10 IIBE.I S EIDUG -------1988-JOLI lOG. ---·- 13 27 p 10 PE ... P---PRELllUBABI PB--PBBJJitiUBI B5rllllTI 1/ RBSBBVKS AND IIOIIBTAMY BASB PIGORBS lJCORPOBlTE lDJUSTI&ITS POl DISCOITlJUITlES ASSOCilTID llfB fBB IIPLIBIIfltiOI 0P fBI IIOHETARY CONTROL l~T liD OTHER REGOLltOII CH&JGES TO RESBBJI IIQUIBBIIEIItS. TO ADJUST POB DISCOitliUlT~ES DUB tO ClliGBS II RESERVE BBQUlBKftBNTS OJ BBSBBV&BLB IOIDEPOSlt Ll&BILltiES, THE SOli OP SUCH BBQUIBBD BISBBJ&s &BE SDBTklCTBD PIOI TBI &crUAt SBilBS. SiftlLARLI, lN lDJOSTIHG FOR DISCONTlJUITl~S II THE IOJBrlBI BASE, BBQDIRID CtE&BlJG B&LliCBS AID &DJUSfB&a~S tO COIIPBIS&TI FOB PLOAT ALSO l8E SUBTRACTED FRO! THE ACTUAL SEBIES. 2/ TOTAL RESERVES NOT ADJUSTED FOB DlSCOITlNUITlKS COISlSTS OP BESBBJI BltliCES llrB PIDII&L 1851818 Bli&S (IIICI IZCLUOI REUUlB~D ~L£l81NG BALliCXS AND lDJUSTREITS TO COBPIJS&tE POR PLOlT) PLUS fAULt ClSH DSBD TO S&TISPr B&SIBfl 81QUIBIBBITS. SUCII VAULT CASH CONSISTS OF ALL VAULT ~ASH HELU DUBlHG THE LlGGED COBPUrlr~OB PEBlOD BI IISTlTUtlOJS HAJIJG B&QUIRBD IBSBBJI BALAHCES lt FEDERAL RHSXBVE BAIIKS PLUS THE IBOUIT OF VAULT CASH EQUAL TO IIQU~BBD IISEIVKS DO&ll~ THI BAlJTIIAICI PIIIOD lT INSTITUTIONS HAYIHG 10 REQUIRED KESEBVE BALAJ~~S. l/ EATENUED CREDIT CONSISTS OF BOBkOWING AT THE DISCOUIT 111001 UHDER THE TEBBS lNO COIDITlOIS IST&BLZSHID POl TBB BlTBIDBD CREDIT PBOGBAft TO HELP UEPOSITOkl IISTITOTlONS DElL WITH SUSTAIIEO LIQOIDltl PRESSURES. BBCAUSI TRIBE IS lOT Til SlAB JBBO tO kEPAI SUCH BORROIIIIG PBOftPTLJ AS THEBE IS WITH TBlDITIOI&L SHOBT-TEBS lDJUST~Wf CRIDIT, THE lOlBI BlkKBT IBP&cr OP llTIIDID CREDIT IS SlftlLAR TO THAT OF NONBO~ROVED RESEBY~S. 4/ BESEEVB 81LAN~ES WITH FEDERAL RESERVE BANKS PLOS YAULT CASH USID TO SltlSPI BBSBBJE REQUIBBIIBITS LBSS IBQUIIBD IBS&IJBS•. 51 THE BONETABY BASE NOT ADJUSTED FOR DIS~OJtiiUITIES COISlSTS OF TOTAL RESBaVES PLUS BIQUlBID CLIABliG BlLAICIS liD lDJDSTBiw.IS TO COIIPEHSATE FOR FLOAT AT FEDERAL RESKRVE 8li&S PLUS THE CUIRBICI COftPOIEIT OF THI 80181 STOC& PLUS, POB liSTifUTXOIS JOT HAVIN~ B~UOIRED H~S~HVE »lLAHCKS, THE KXCESS OF CURRENT JADLT CASH OJEB THE lBOUNt APPJJHD TO SltlSFI CUBIKIT IISB.JI hE~UIREftEHTS. AFTER THB IMTRODOCTION OF CCB, CURRR.CI liD fAULT ClSH 'IGUBIS lRE ftBlSUK¥D OJBB THE BOIDAI-BIDIIG CUUU'U'l'ION PERIOD. THil SEASONALLY ADJUSTED ftOIIETAilJ BASE COISlSTS OF SB&SOULLI ADJOSTBD TOTAL BESEIIYE (IIHlCB UCLUDBS EXCESS RESERVES ON A NUT sgASOMALLY ADJUSTED ~ASIS) PLOS THE SEASONALLI ADJUSTID CUIRBICJ COft~ONBIT OF T~E BOIBI S~OC& ~LUS THE hEftAlNING ITgftS S~ASONALL~ ADJUSTED AS A IIHOLE. NOTB: HISlOdlCAL OATA ARE AVAILABLE FROft THE ftONEY AND RESEHfES PBOJBCTIOIS SECTIOI, OIJISIOJ OP BONBTlBI APFliiS, BOARD OP http://fraser.stlouisfed.org/ GOVE!ItiUilS 01' 'fHE t'EDERU. kESERYE SJST~H, WASH!NGTUH, D.C • ..!0551 Federal Reserve Bank of St. Louis M.l . . . . Tellle2 AGGREGATE R!SERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE 1!'lo.t;.djuat,:: fo~hange~ In reserve requlremenl:'J A_.... of dairy flgurH,~ seasonallt_~~~- _. Mllllona of dolla,.. - ·• •· :u. 728 58,838 58,361 59,813 61,106 61,JOS 4>2,123 58,166 57,7111 58,873 60,163 4>0,580 61.3116 58,078 57,329 59,0l0 59,917 60,282 61,094 254,611 2541,360 255,691 258,076 261,674 26C» 0 161 16,110 35,616 16,685 37,2119 37,1153 .J7.67l .Z4,61J .24,644 24,8511 25,587 25 0 11J1 26,155 ~ 62,640 60,0if7 60.076 62,064 b0,681 61,991 62,763 61,558 59,650 58,324 59,071 511,103 58,908 59,J23 61,345 58,91/f 59,147 61,205 59,641 61,10J 61,754 265,789 264e,598 261.979 268,127 268,8!)9 274!,6511 275 0 61l7 37,1185 311,211 16.027 38.429 36,509 37.907 38.002 26,919 28,1111 25,926 25,200 25,87J 25,711 26,47!11 25,155 25,836 24,0119 l1,6J6 24,112 24,08it 24,761 27 p e.3,1l60 62,298 59,8011 59,1130 64!,599 61,069 276.908 274,489 38,831 37,1l16 26,270 26,647 21l,629 24.881 1.641 1,164 10 PB 62,121 5B,781l 61,408 275.6011 37,161 26,571 24,76.2 1,809 1987--JUJ.Y AUG. SBPT. ocr. IIOJ. oac. 1988--JAI. PBS. liAR. lPR. lUI JUIB JULI PB l l . 745 ll,l.t8 2J,857 ......, l3,15l 18 885 1,899 1,726 18 73Q 1.679 1,706 1.7611 .a •.aa3 1,817 1,564 1,700 1,632 1, 718 TIO IIBBKS EJDIIIIO ------1988-JULI lUG. 13 P---PRI!J.IIUIIUI PB--PRBLllllHlBJ BSTllllTB. 1/ RE¥LBCTS ACTUAL RBSERJB RB~DlRBBBITS, liCLODliG TKOS& 01 IOIDBPOSlT LllBILITX&S. llTB 10 lDJ8STIBITS TO BLIIII&t& THB EFPBCTS 01 OlSCOITliUITIBS &SSOCilfBD lllTH IBP~IBITltlOI or fBB IOI&r&al COITROL ~T OR OTB&a R&GULATORf CHAIGKS TO BBSBBJB BBUUIBBBBITS. 2/ CONSISTS UP TOTAL RESB&fiS PLUS RIUDIRID C~KliiiG BlLliCIS liD lDJOSt:III~S ~0 COIP&ISlfl ,01 rLO&r &r PI81RAL I&SIIfl BAI&S ~LOS THE CURBBI~I COBPOIBIT or TKB 80111 STOCI LESS THE liODIT or flDLT ClSB BOLDIIGS or THRIFT liSTlTOTlOIS TB&r IS IIIC~UDBD Ill THE CUlla&I(;J COBPOIUT or THIS 101.11 STOCK PLU,S,q.OB U~T,UUTIOIS lOT BlfUG UQOIUD BJSBUI llUIC&S, Til BXCBS.S UF CUBIIBIIT UULT CASH OYI& THB liiOUIT UPJ.IBD TO ·SUI'S~· CO'IIi'BiT liBS&RYB RJQOIRIIIUTS. &rra Til IITRODUCTXOI M l:8B, CUKIIBIIC! liiD VAULT CASH riGDRBS liB IUI&SUBBP 01&1 ,rlfl' ~~~~~~i!J.DtiJG<COii.!UTUlOI PIUOD. l/ EXCLUDES BEQUlBBD CLB&RliG BlLAICBS liD ADJUSTIIKITS.TO COIPIIISlTk"toa rLOlT. II/ DATES REPBB TO THE IIAIITBIAICI PBBlODS II WH1CH THE YlULT CASH Cll 81 USID TO SlTISrl RISIIYI IIQDl&llllwrS. OlD&& COITEBPOBlHBOUS BBSEBYB BIQUIBEIIBNTS• ftliHTBIAICI PISBIODS BIQ JO Dll$ A'T&a ra& LAGGB8 COIPDTArlOI P&IIODS II WKll:U THB BALlNCB.S lKB HELD. 5/ BQUAL TO ALL VAULT CASH HELD DUBIIG TUB LAGGID COBPUTlTIOI PJRIOD II liSTITU~lOIS HlJIIG RIUDIR&D I&SMaf& BlL&IC&S lT rEDEIUL USEBVB BAliS PLUS THE ABOUIT OF UULT CASH IQU&J. . Tf:». HOU:JBfD,&PUf&S DURJ:IG fHJl llliT&IliiCI P&IXOD AT HISTITUT lOWS HUIIIG Nu IIBQUIIIBD IIBSIUlYB BAJ.lll:IS. ·, ~. j • ! ,T '. " ,. •·' . 6/ TOTAL UULT CASH AT .LIISTITUTIOIS KUliG 10 U:\,IUUBD US'Bitfl. lf4.•lli.cls L"£5$ ·~HW liiOUIIT or UU~T CUB IQUAI. TO ftlll RE\,IUIII£U IIESERVES DUHlHG THE lllliTKNliCB PERIOD. 1/ CUISlST.S Of l:ARRIOYER ONLY AT DEPO~llOKY IN.SI'lfUTlOIS ftliiTllNliiG BBSBMfBS 01 THB BASIS 0¥ TWO-Mill 8AliTBiliC& PEIIIOOS, li.l!fLECTS t:XC.ES5 (+) OR OEllCIT (-) RISi:UBS BJ.lGlBLII TO. BB CURlED FOBIIlRD 111'0 Tllll two-IIBH &IISIB'I ftAlNT.I!~AWl:H PtBIOD t:ND1NG ON THE DATI SHO~H. .,,. 3l liS H.3 (502) Table 3 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjusted for changes In reserve requlrements1 Averages of dally flgurea, not aeaaonally adjuated Mllllona of dollara Date - ~·· ··-· ···~ .. . 19d7-JUJ.I AUG. total Reserve• of depository lnstltutlona nonborrowed Monetary baM required -" 58,717 58,369 58,512 59,073 59,136 60,023 58,044 57,721 57,571 58,130 58,511 59,2"5 57,718 57,944 58,.213 56,99" 61,199 58,663 58,851 60,947 59,,.54 60,679 61,475 60,117 !>8,267 57,099 57,954 56,876 57,596 58,035 . 59,904 57,530 57,922 60,088 58,414 59,791 60,466 13 27 p 62,153 61,036 5d,497 57,768 61,292 59,806 213,111 271,3.60 10 PE 60,807 57,,.68 60,092 272,249 SBf'l. OCT. 1or. DEC. 1988-JAN. FEB. liAR. AfR. liAY JUIE JOLI PE 57,956 4l~:t,JOd 51,336 .252,JOd 4!54!,4 .. 5 2511,119 2~7,651 262,053 262,006 259,010 260,172 26!i,007 265,73.2 26~,442 272,463 TWO lll::E.KS EIIDUG ---------19&8--JULY AUG. P--- PR~LllU.IIABY ESTlliA'lE. FIGURES HEPLECT lDJUSTli£NTS POB DlSCOHTlNUlTlES ASSOCIATED WlTB THE l!PLEliEITATlOI OP THB !OIETAMI COMTROL ACT AID a~dER REGULATORY CUAH~ES TO RESE-VE REQUliB!EITS. PB--PREL~B~IIARI 1/