View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

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/