Full text of H.3 Aggregate Reserves of Depository Institutions and the Monetary Base : August 22, 1983

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FEDERAL RESERVE statistical release
For Immediate Release

H.3 (502)
Table 1

AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE
AUG.

Adjusted for changes in reserve requirements'*
Reserves of depository institutions
total 2
|
1 non borrowed |
I
required
millions of dollars
seasonally adjusted

Period

Monetary base3
billionsof dollars

Reserves of depository institutions
total 2
| non borrowed |
required
millions of dollars
not seasonally adjusted

22,

1983
Monetary base3
billionsof dollars

1982— J UL Y
AUG»
SEPT.
OCT..
NO V«»
DEC..

3 9 ,0 0 7
3 9 ,2 0 5
3 9 .6 5 6
3 9 .9 3 2
4 0 ,4 08
4 0 .7 8 3

38 ,3 15
3 8 ,6 9 0
3 8 ,7 23
39 ,4 54
3 9 ,7 87
4 0 ,1 49

3 8 ,6 9 3
3 8 ,8 93
39 ,2 7 3
39 ,5 2 8
4 0 ,0 0 6
4 0 ,2 83

169.9
170.9
172. 1
173.2
174.3
1 75.6

38 ,5 30
3 8 ,6 09
3 9 ,3 5 6
3 9 ,9 9 7
40 ,6 79
4 1 ,5 60

37 ,8 3 8
38 ,0 93
38 .4 2 3
39 .5 1 9
4 0 .0 5 8
40 .9 26

38 ,2 1 6
38 ,2 9 6
38 ,9 7 3
3 9 ,5 9 2
4 0,2 7 7
41 ,0 5 9

170.4
170.7
171.7
173.2
175. 4
178.9

1983— JAN.,
FEB.,
MAR..
APRMAY
JUNE
J U LY

4 0 , 119
4 0 ,3 4 1
4 1 ,0 0 3
4 1 ,3 02
4 1 ,2 3 8
4 1,719
4 1 ,9 2 9

3 9 ,5 89
39 ,7 5 8
40 ,2 10
4 0 ,2 93
4 0 ,2 86
40 .0 83
40 ,4 76

3 9 ,5 71
39 ,9 0 5
40 ,5 7 0
4 0 ,8 2 6
4 0 ,7 8 9
4 1 ,2 3 9
4 1 ,4 1 8

176.3
178.0
18 0.2
181.3
182.8
184.3
185. 1

42 ,2 16
4 0 ,2 2 7
40 ,2 30
41 ,0 48
40,7 06
40 .8 4 0
4 1 ,4 20

4 1 ,6 8 6
3 9,6 4 4
3 9 ,4 3 8
4 0 ,0 3 9
3 9 ,7 5 4
3 9 ,2 0 4
3 9 ,9 6 6

41 ,6 6 8
39 ,7 9 1
3 9 ,7 9 7
4 0 ,5 7 2
40 ,2 5 7
4 0 ,3 6 0
4 0 ,9 09

177.7
175.9
177.7
18 0. 3
181.7
183.5
185.7

4 2 , 187
4 1 ,0 7 5
4 2 .4 9 7
4 1 .9 26

3 9 ,9 53
39.9 28
41 ,261
40,5 39

41 ,3 3 3
40 ,5 7 9
4 2 ,1 71
4 1 ,5 5 4

185. 1
183.9
185.5
18 5.3

4 1 ,3 9 8
4 0 ,1 66
4 2 ,3 33
41 ,7 3 9

3 9,1 6 4
3 9 ,0 1 9
4 1 ,0 9 7
4 0 ,3 5 2

40 ,5 4 4
3 9 ,6 7 0
42 ,0 0 7
4 1, 367

186.7
185.0
186.3
184.8

4 2 ,0 4 7
4 1 ,6 0 6
4 1 ,7 4 8

4 0 ,7 32
40,0 86
4 0 ,2 7 0

4 1 ,4 5 8
4 1,1 9 0
4 1 ,4 2 3

185.9
1 8 5.7
185.8

4 1 .4 8 8
4 0 ,5 5 0
4 1 ,2 00

40 ,1 7 3
3 9,0 3 0
3 9 ,7 22

4 0 ,8 9 9
40 ,1 3 4
40 ,8 7 5

185.6
186.5
186.4

P

WEEK EN D IN G :

1983— JU LY

AUG-

1/

2/
3/

6
13
20
27
3 P
10 P
17 P

RESERVE AGGREGATES INCLU DE REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND CTHER DEPOSITORY
I N S T I T U T I O N S - D I S C O N T I N U I T I E S ASSO CIAT ED WITH THE IM PL EM E N TA TIO N OF THE MONETARY CONTROL A C T , THE I N C L U S I O N
OF EDGE ACT CORPORATION RESERVES. AND OTHER CHANGES I N REGULATION D HAVE BEEN REMOVED.
RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED C LE A RI N G BALANCES) PLUS VAULT CASH AT
I N S T I T U T I O N S WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER I N S T I T U T I O N
I NCL UD ES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS I N THE CURRENT WEEK PLUS
VAULT CASH HELD TWO WEEKS E A R I I E R USED TO S A T I S F Y RESERVE REQUIREMENTS AT ALL D EP OS ITO RY I N S T I T U T I O N S PLUS
CURRENCY O UTSIDE THE U . S . T R EA SU RY , FEDERAL RESERVE BANKS, THE VAULTS OF DEPO SITO RY I N S T I T U T I O N S , AND
SURPLUS VAULT CASH AT DEP OS IT OR Y I N S T I T U T I O N S .

NOTE: H I S T O R I C A L DATA ARE A V A I L A B L E FROM THE BANKING S E C T I O N ,
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, WASHINGTON.




D I V I S I O N OF RESEARCH AND S T A T I S T I C S ,
D .C 2 0 5 5 1 .

H.3
Tab le 2

AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS
N o t adjusted fo r changes in reserve requirem ents
Average of d aily figures, n ot seasonally adjusted

Reserves o f depository institutions^
Period

tota|2

nonborrowed

required

Monetary
base3

millions o f dollars

1983— JUL Y
AUG.
SEPT.
OCT.
NOV.
DEC-

3 9 ,9 6 7
4 0 ,1 7 8
3 9 ,9 6 2
4 0,5 8 7
41 ,1 9 9
4 1 ,8 5 3

3 9 ,2 75
3 9 ,6 6 2
3 9 ,0 2 8
40 ,1 0 9
4 0 ,5 7 8
4 1 ,2 1 9

39 ,6 5 3
3 9 ,8 6 6
3 9 ,5 7 8
4 0 ,1 8 2
4 0,7 9 7
41 ,3 5 3

172.4
172.8
172.4
17 3.8
17 6.0
179.3

1983— JAN .
FEBMARAP R.
MAY
JUNE
J U LY P

4 1,864
3 9 ,7 9 8
3 8 ,0 3 5
3 8 ,6 5 0
38 ,2 82
3 8 ,4 1 5
3 8 ,9 5 0

41 ,3 3 4
3 9 ,2 1 5
37 ,2 4 3
3 7 ,6 4 0
3 7 #33 0
3 6 ,7 79
3 7 ,4 9 7

4 1 ,3 1 6
39 ,3 6 2
37 ,6 0 2
3 8 ,1 7 4
3 7 ,8 3 3
37 ,9 3 4
3 8 ,4 3 9

177.9
176.0
175.9
178.4
179.8
181.6
183.7

6
13
20
27

3 8 ,9 2 3
3 7 ,7 4 2
3 9 ,8 2 9
3 9 ,2 54

3 6,6 8 9
3 6 ,5 9 5
3 8 ,5 93
3 7 ,8 6 7

3 8 ,0 6 9
3 7 ,2 4 6
39 ,5 0 3
3 8 ,8 8 2

184.7
183. 1
184-3
182.9

3 P
10 P
17 P

3 9 ,0 3 7
3 8 ,1 11
38 ,7 50

37 ,7 2 2
3 6 ,5 91
37 ,2 7 2

3 8 ,4 4 8
37 ,6 9 5
38 ,4 2 5

183.7
184.6
184.5

WEEK END IN G:

1983— JU L Y

AUG-

1/

2/
3/

RESERVES OF D E P O SI TO R Y I N S T I T U T I O N S SE R I E S REFL ECT ACTUAL RESERVE REQUIREMENT PERCENTAGES WITH NO AD JUSTMENTS TO E L I M I N A T E THE EFFECT OF CHANGES I N RE GULATION D, I N C L U D I N G CHANGES A SS OC IA T ED WITH THE IMPLE ME NT A T I O N OF THE MONETARY CONTROL ACTIN CL U DE S REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS
AND, B E G IN NI N G NOVEMBER 1 3 , 1 9 8 0 , OTHER DEP OSITOR Y I N S T I T U T I O N S .
UNDER THE T R A N S I T I O N A L P H A S E - I N PROGRAM
OF THE MONETARY CONTROL ACT OF 1980 AND P R O V I S I O N S OF THE DEPOSITORY I N S T I T U T I O N S ACT OF 1 9 8 2 , THE NET
CHANGES I N REQUIRED RESERVES OF DE PO SIT O R Y I N S T I T U T I O N S HAVE BEEN AS FOLLOWS:
E F F E C T IV E NOVEMBER 13 , 1 9 80 ,
A REDUCTION OF $ 2 . 9 B I L L I O N ; FEBRUARY 1 2 , 1 9 8 1 , AN IN C R E A SE OF $ 2 4 5 M I L L I O N ; MARCH 1 2 , 1 9 8 1 , AN INCREA SE
OF $7 5 M I L L I O N ; MAY 1 4 , 1 9 8 1 , AN IN C R E A SE OF $ 2 4 5 M I L L I O N ; SEPTEMBER 3 , 19 8 1 , A REDUCTION OF $ 1 . 1 B I L L I O N NOVEMBER 1 2 , 1 9 8 1 , AN I N C R E A S E OF $ 2 1 0 M I L L I O N ; JANUARY 1 4 , 1 9 8 2 , A REDUCTION OF $60 M I L L I O N ; FEBRUARY 1 1 , 1982
AN I N CR EAS E OF $ 1 7 0 M I I L I O N ; MARCH 4 , 1 9 8 2 , AN ESTIMA TE D REDUCTION OF $ 2 . 0 B I L L I O N ; MAY 13, 1 9 8 2 , AN ESTIMATED
M
IN C R E A S E OF $ 1 5 0 M I L L I O N ; AUGUST 1 2 , 1 9 8 2 , AN ESTIMA TE D IN CR EA SE OF $ 1 4 0 M I L L I O N ; SEPTEMBER 2 , 1 9 8 2 , AN ESTIMATED
M
REDUCTION OF $ 1 - 2 B I L L I O N ; OCTOBER 2 8 , 1 9 8 2 , AN ESTIMA TE D REDUCTION $1 0 0 M I L L I O N ; DECEMBER 2 3 , 1 9 8 2 , AN ESTIMATED
REDUCTION OF $ 8 0 0 M I L L I O N ; AND MARCH 3 , 1 9 8 3 , AN ESTIMA TE D REDUCTION OF $ 1 . 9 B I L L I O N .
BEG IN NI N G WITH THE WEEK
ENDED DECEMBER 2 3 , 1 9 8 1 , RESERVE AGGREGATES HAVE BEEN REDUCED BY S H I F T S OF RESERVABLE L I A B I L I T I E S TO IN T E R N A T IO N A L
BANKING F A C I L I T I E S ( I B F S ) .
ON THE B A S I S OF REPORTS OF L I A B I L I T I E S TRANSFERRED TO I B F S BY U . S . COMMERCIAL BANKS AND
AND AGENCIES AND BRANCHES OF FOREIGN BANKS, I T I S ES TIMATED THAT REQUIRED RESERVES WERE LOWERED ON AVERAGE BY $60
TO $9 0 M I L L I O N I N DECEMBER 1981 AND $ 1 8 0 TO $ 2 3 0 M I L L I O N I N JANUARY 1 9 8 2 , MOSTLY RE F LE C TI N G A REDUCTION I N RESERVABLE
EUROCURRENCY T R A N S A C T I O N S .
AL SO, B EG IN NIN G WITH THE WEEK ENDING A P R I L 2 0 , 1 9 8 3 , REQUIRED RESERVES WERE REDUCED AN
ES TIMATED $8 0 M I L L I O N AS A RESULT OF THE E L I M I N A T I O N OF RESERVE REQUIREMENTS ON NONPERSONAL 'T’ IME DEPOSITS WITH
m
M A T U R I T IE S OF 2 - 1 / 2 YEARS OR MORE TO LESS THAN 3 - 1 / 2 YEA RS .
■
RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDED REQUIRED CL EA RIN G BALANCES) PLUS VAULT CASH AT
I N S T I T U T I O N S WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER I N S T I T U T I O N S .
IN CL U DE S RESERVE BALANCES AND REQUIRED CL EAR IN G BALANCES AT FEDERAL RESERVE BANKS I N THE CURRENT WEEK PLUS
VAULT CASH HELD TWO WEEKS E A R L I E R USED TO S A T I S F Y RESERVE REQUIREMENTS AT AL L DEP OSI TOR Y I N S T I T U T I O N S PLUS
CURRENCY OU TSI DE THE U . S . T R E A S U R Y , FEDERAL RESERVE BANKS, THE VAULTS OF D EP OSI TOR Y I N S T I T U T I O N S , AND
SURPLUS VAULT CASH AT D EP OS IT OR Y I N S T I T U T I O N S .