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FEDERAL RESERVE statistical rele,ase for~ H.3 (502) Table 1 AUGUST AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY lASE Adjusted for cllanQM In-,......_..., A-.gaa of dally flglne, ..aonally adjueted unleu noled .,.,...... Millions of dollarS - total Date 58,499 58,810 58,815 59,41>6 59,053 1987--JU.Ll AUG. SEPT. OCT. HOY. DEC. sa, ·122 59,458 59,!>73 59,"/bO 60,374 60,365 61J,6J7 61,245 1988--JUI. l'EB. Ill&. APB. IIAI JUIE JULY p 1114:30 ~ Tlnle 18, 1~88 · _ ........... ....... ............ "*-- .. ...,.._, INIItlllloM .-llolfOweoil 57,827 58,163 57,874 58,523 58,428 I 51,~-- 58,021 58,295 58,283 58,973 58,822 58,428 58,.J76 59,177 58,009 57,380 57,787 57,555 57,806 58,71t8 59,382 59,487 60,004 59,894 60,108 60,344 51,738 57,778 58,021 58,338 58,129 57,693 58,163 58,440 58,832 59,515 59,325 59,750 60.,231 - ...,.. 761 1,032 793 1,129 tot.! 1,029 250,409 251,919 253,024 255,2!JI6. 256,938 257,928 672 o47 940 9U 625 717 1,295 1,133 929 859 1,040 888 1,015 260,721 262,019 263,315 265,809 266,924 268,309 270.,564 1,08.2 396 1, 75:1. 2,993 2,578 3,083 3,440 923 -- ....... of defiOeltoly IMIIIuttona flollltlle ....... ......,.. ...,. ~.,_. ~. 28.3 279 231 189 126 93 194 132 409 4119 394 483 59 75 119 146 246" 311 376 372 205 1,478 2,624 2,107 2,554 2,538 I TIIO iiEEKS EID~IG --------1988-JU.LI .lOG. 1J 21 10 ----- p 61,111 61,J60 57,461 58,092 59,800 o0,755 60,256 60,146 861 1,215 270,111) 270,810 3,656 J,2o8 352 390 2,340 2,663 01,262 57,923 oO,o7t 60,448 814 270,989 3.339 407 2,748 I PB--PREJ.l:.IJI.IIABl BSTI.IIlTE BESEBYES AID BOHETABI BASE P~GURBS ~&CORPORATE ADJUST.IJEHTS roa D~OOIT~IUIT~IS ASSOCIATED ii~TK TBB ~ftPLIBEITATIOI or THE ftOMBTlB% CONTROL ACT AND OTHER BBGULATORI CHARGES TO RESERVE REQD~BB.IJEITS. TO ADJUST FOB DISCOIT~BUXT~BS DUB TO CBABG&S IN BBS~BYE REQDZRBIIEITS OJ BBSEBYABLE NOIDEPOS~l LIABILITIES, THI SU.IJ 01' SUCH BEQU~BBD BBSEBVBS ABE SUBTBACTBD ,80.11 THE lCTDl.L SERIES. SI.IJILAB£1 6 ~~ ADJUST~HG FOB DISCOBTXBUITIBS IN THE 801BTA8% BASE, BBQUIBBD CLBAB~I- illLA»CBS AID ADJUSTaBITS TO COnPE»SAtE l'OR l'LOAT ALSO ABE SUBTRACTED rROB TB& ACTUAL SBBZBS. 2/ TOTAL B&S~RYIS BOT ADJUSTED 1'08 DlSCOaTIIDITIES CONSISTS 01' BISBRY& BALAICBS WITH rBDBB~ BBSBRYB BARKS (iiHICH EICLUDB RRQU~ED CLEABIBG BALABCES AND lDJDST8BHTS TO COftPBNSATE roR FLOAT) PLUS VAULT CASH USBD TO SAT~S,! BBSBRVE BBQUIRBBBITS. SUCH YAULT CASH COISISTS OF ALL VAULT CASR BILD DUIIIG THE LAGGED COftPDTlTIOH PBBIOD BY ~HSTITOT~O&S BlV~IG BBQO~B~ IISIRYE B~LABCBS AT FEDERAL BBSBRVE BANKS PLUS THE AftOUBT OF Y.lDLT CASH EQUAL TO BEQUIRBD kBSBBYBS DURIBG TBB MAXBTENABCE PBBZOD AT IBSTIT~IOIS HAVliG BO kE~UlRED RESERVE BALAH~4S. 3/ ~XTENDED CR~DIT CONSISTS OF BORROWING AT THE D~SCOUBT iiNDO¥ UNDER THE TBRBS AID CONDIT~OIS ESTABLISHED FOB THE EXTENDED CQ~Dll PROGRAft TO HEL~ DEPO~lTORI IMSTITUTIOMS DEAL WITH SDSTA~BED L~QUIDITI PMBSSURBS. B&CAUSE TRBHE LS NOT THE Sl.IJI IEED TO BEPA% SUCH BOBBOii~IG PROIIPTLY AS THEB~ IS WITH TBADIT~ONAL SBOBT-TBBB ADJUSTaEIT CREDIT, THE !ON~I 8ARKBT I!PACT Of BITEHDED CREDit IS SIBILAB TO THAT OF NONBDHBOWED RESERVES. 4/ BBSBRfE BALABCBS iiiTH FEDEBAL B~SEBVE BANKS PLUS fAULT CASH USED TO SlTISr% BESBRYE REQUIH&!~BTS LKSS REQUIRED RESERVES. 5/ THE !OBETABY BASE BOT ADJUSTED £0B D~SCONTIBUlTIES CONSISTS OF TOTAL RESERVES PLUS BEQUI~ED CLEAB~IG BA.L.lBCES AID ADJOST!BNTS TO COS~ENSATE POR l'LOAT AT FEDEBAL BESERYE BARKS PLUS THE CURRBICI CO!POIEBT or THE ftOHEI STOCK PLUS, FOB IRST~TUTLOIS BOT HAVIIG REuUIBED BESERVE BALANCES, THE EXCESS 0¥ CDRBEIT VAULT CASH OYEB THE AftOUBT APPLIED TO SATISl'l CDRBBIT BBSBRYE B4QU~BE8ENTS. AFTER THE INTRODUCTION OF CCB, CUaBENCl AID YAULT CASH tiGDBES ARE ftElSOBEu OYER THB ftONDAY-EIDIBG COMPUTATION PERIOD. TH~ SEASONALLY ADJUSTED !ONETAkY bASE COISISTS OF SEASOBALLI ADJUSTED TOTAL BESEBVE (WHICH ~HCLDDBS ElC~SS RESERVES ON A BOT SEASONALLY ADJUSTED BAS~S) ~LOS THE SEASONALLY ADJUSTED CURRENCY C08PONBHT OF THE !OIBY STOCK PLUS THE BEIIAINING IT~4S SEASONALLY ADJUSTED AS A .HOLE. NOTE: HISTORICAL DATA ARE AVAILABLE PROK THE KO~~~ AID HESEki£S PROJECTIONS SECTION, DIVISION OF ftONBTARY AFFA~BS, BOARD or GOVERNORS OE l:HE FEDERAL li.l::!iEBVE !>lSTEII, WASI!INGTOII, D.C. 20551 P---PBEL~IHHARY 1; H.3 (502) Table 2 AGGREGATE RI;SERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE reserve No.fa'djusted foo:c:changes in rSquiremenl~ Averages of dailY figures, not seasonally adjusted· Millions of dollars · · Monetary ba~ Date total non borrowed required 2!>,155 .b,836 24,049 23,636 24,112 24,084 2'1,763 1, 71>4 2,283 1,877 1, 564 1, 700 1,632 1,715 38,831 37,410 26,2711 26,647 24,&29 2'1,889 1,641 1,758 194 32 37,362 26,571 24,76:/. 1,810 281 24,613 24,64'1 24,85'1 25,587 25,431 26,1!):) &1.558 59,&50 58,324 59,071 58,103 58,908 59,323 61,345 58,914 59,147 61,205 5!1,.641 61,103 61,748 265.789 262,598 263,979 268,127 2&8,899 .<:72,&51& 275,529 37,485 34,211 36,027 38,429 3&,509 37,907 38,000 63,460 62,298 59,804 59,030 62,599 61,084 276,908 274,327 62,123 58,784 .. 1,310 275,257 58,166 57,714 58,873 1>0,163 60,580 61,346 58,078 57,329 1988-Jlll. FEB. liAR. o2,o40 60,047 60,076 62,064 60,681 o1,991 62,763 13 21 10 p ua. 26,919 28,1h 25,926 25,200 25,873 25,717 26,479 59,977 60,282 61,094 36,110 35,616 36,685 37,249 37,453 37,673 58,838 58,361 59,813 61,106 61,205 62,123 ltAY JUBB JUJ.I P 23,128 23,857 23,752 24,449 1,885 1,899 1,726 1,730 1,679 1, 706 254,671 254,31>0 255,691 258.076 261,674 2oo.161 1987--JUJ.I AUG. SEP%. OCT•.. IIOY. DEC. !i~.0211 u.,7.l8 21., 745 1'110 liEEKS BBDUG -------1988-JULI AUG. P---PBELJ:JI:IBlll! PE--PBBL~B~IIlBI 1/ 21 3/ 4/ 5/ 6/ 7/ BST~!ATB. RBPLBCI'S ACTU.U. liESEBYE BEQUIRBIIBIITS, IIICLUD~IIG THOSE Oil IIOIDEPOSIT J.IABILIT.IiS• liit'H 110 AI.IJUS1'11BIIt'S XO BI.I!IIATE t'BB EI!'PBCTS OP DISCOJ'f~BUIT~ES ASSOCIATED Wit'6 I!PLEIEIITlTIOI OP THE IIOBBTllll COJTBOL ACT 08 OTHBII RBGULlfOBI CBAHGBS TO B&SEIIVB RBQUXBBB&ITS. COIS~!S OP TOTAL llESEBYBS PLUS RBQULRBD CLEliliG BlLAICBS liD lDJUSTIIEITS TO COBPBISATE POB FLOAT lT PBDBBlL RESBBYE BANKS PLUS TBK CUBBBICY COBPOMEIT OP THE IIOHBI St'OCK LESS TBB AaOUir 01!' VAULT CASH BOLDIIGS 01!' 'fHiliPT IISTl'fOfiOIS 'fRAT IS IICLUDED IN TBB CUBRBICt COIPOIBIT OP TBB IIOIBI STOCK PLUS, FOB XISTITUTIOIS lOT RAYING REQUIRED ~BSERJE BlLliCES,. t'HB EXCESS OF COBB BIT YAOLT CASH OYBB 1'8.8 UOOIIt' Al'PLIED t'O SUISI'I CURB BIT USUYE BBQ~IP.B'*J!I~~' ·"·ttl.i.t~ ita•:. IiiiTBODUCUOI OP CBR, CUBBEJICt ABD YlOI.T ClSB PIGUBBS ABE IIElSIUIBD OYIIB THE IIOIDl!-EJDIIIG COIIPOT~~XOI, P)IBI,OD., ,, ··• ·•'•I _. •: · · i , ~· BICLODBS RBQU~BED CLBARIIG BALAICES AID ADJUSTIIEITS t'O COIIPBISArJ: POJI l'LOlT. · :·, •· ' ·',. : . ·' .' .·:' ,-d. • ' · DATES REPEB TO THE IIAXIITBiliCE PERIODS II iB~CH TaB VAULT CASH CAl BB USED TO SlTISl't BESEBYE HEQUIRBIIBBTS. UBDER COITBIIPOBAIBOUS BESBRYB BBQUIBBIIBITS, IIAINTBBAIICE PERIODS BID 30 DAIS AFTER TBB LAGGED COSPUfATIOI PBIIIODS IB IIHICH TUB BlLliiCES ARB HELD. : . . • . EQUAL TO ALL VAULT ClSB HELD DUBIIG THE LAGGED COIIPUTATIOII PERIOD BI IBSTITUT~OIS BlYIBG 'R'JtQtliBEO RBSBRU BALANCES AT l'EDBRAL BBSEBVB BAlKS PLUS TUB l80UJ'f OP VAULT CASH EQUAL TO RBQUIBED BBS&RYBS OUBIBG THE IAIIITEiliCB PERIOD lT ~ISTHftiOBS HAYIIG 10 BBQUIIIED USBBVB BALUICBS. . ·, !' , ;p , . ·:· !'OTAL UOL'f ClSB AT IIS1!UUT~OIS BAYIBG 10 llBQUIJIED BBSBilU BlLlBCBS LESS THE AIOUBt' OP ~U:IJt,~ ClSH. iQUAL, TO' THBIR BEQUDBD BBS.IIRYES DURIIG THE IIAIITBIAICE PJ!ll~OD. .i ' .•. i' '' :: •' ·' .. COISISTS OP ClRRIOYBR OILI lT DEPOSITORY INSTITUTIOIS ftAIMTA~I~IG B&SEBYBS 011 TRB BASIS OF TiO-WBEK IIAIHTBHAIICE PERIODS. RBFLECTS EXCESS (•l Oil DEFICit (-) RBSEBJBS ELIGIBLE t'O BE CABliiBD l'ORilBD IIITO tHE TliO-VEEK llBSEBYE BAIIITEHABCE PERIOD BID~IG OB THE Dlt'B SHOW&. *' ·:. , H.3 (502) Table 3 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjusted for changes In reserve requirements 1 Averages of daily figurea, not seasonally adjusted Millions of dollara Date total Reserves of depository Institutions required nonborrowed . . - +-· .. ···- ... -~---- 58,.044 57,.721 57,.571 58,.130 ~. Mofletary base -··· ·- . ·-----·-- 57,.956 57,.336 57.718 57,.944 58,.213 58,.994 252,.308 252,.308 252.445 254,.11.9 257,.651 26:.t.05J 262,.000 25!:1,.010 260,.172 2o5,.007 265,.732 OC'l. 58,.117 58,.J69 58,.512 59,073 HOY. DXC. 59,.136 58,.511 60,.023 59,.245 61,.199 58,.663 58.851 60,.947 59,.454 60,679 61,.474 60,.111 58.267 57,.099 57.954 5&,.876 57,596 58,035 59,.904 57,.530 57,.922 27 62,153 61,036 58,. 497 57,768 61.292 59,821 213,.111 211,198 10 p 41i0,.807 51,.4&8 59,.993 211,936 1987-JULY lOG. SEP'f. 1988-JU. FEB. liAR. lPR. IIU JUIB JULI p 60,.088 58,.414 59,. 791 60,.460 2&~,442 l14,.349 71110 iEEKS EIIDIIG --------1988-JOLI 1J AUG. P---PBXLlltlllBI PB--PBELllllllBI ES'flftl7X. 1/ FIGURES RBILECI lDJUS'fftEH'fS FOB DISCOII~liUI7IE~ lSSOCiliED Ml'fB IBB lftPLBIIEITl'fiOI OP Til ftOIIIlBI COI7BOL lC'f AID OTBBB BBGULlTOBI CB&IuBS TO BBSBBVB BEQUIBBKBII'fS.
@FedFRASER