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RARV FEDEfr^g R5&ERVE statistical release •f*URE§? For Immediate Release Table 1 AUGUST 3 , AGGREGATE RESERVES AND MEMBER BANK DEPOSITS 1981 Average of daily figures Reserves of depository institutions^ total 2 Period nonborrowed required Monetary base 3 total millions of dollars Member bank deposits subject to reserve requirements time and private demand deposits U.S. government savir H net other total interbank demand billions of dollars seasonal I\f adjusted 1980—JUNE JULY AUG. SEPT. OCT. NOV. P DEC. P 1981—JAN. FEB. MAR. APR. MAY JUNE P P P P P P 43,959 42,781 40,749 41,517 41,727 41,227 40,132 43,580 42,386 40,090 40,206 40,417 39,168 38,441 43,756 42,497 40,447 41,262 41,521 40,730 39,579 158.9 158.2 159.4 160.7 160.5 159.5 658.0 658.5 667.8 678.2 684.7 694.3 701.8 467.9 467.0 474.2 482.0 486.7 494.1 504.0 188.4 189.1 191.5 194,5 195,6 198.0 195.9 1 6 , it 16,6 14.4 15.9 16.5 17,3 17,5 171.5 172- 5 177. 1 178.6 179,1 180.6 178,4 1.7 2,5 2.1 1.8 2.4 2.2 1-9 40,100 39,757 40,247 40,248 40,809 40,832 38,706 38,454 39,248 38,910 38,581 38,795 39,556 39,574 39,866 40,104 40,546 40,499 160.2 160.6 161.3 162.2 163.6 163.8 703.8 704.3 703.4 711.2 715-0 720.8 517.5 523-4 524.7 531.1 538,1 545,6 184.1 178,8 176, 7 177.4 174.7 173.3 17,0 17.9 18.1 17.7 17.9 18.2 167.0 160.9 158-6 159.7 156, 8 155,2 2.3 2.1 2.0 2.8 2,2 1.9 159.1 WEEK ENDING: 1981—JUNE 3 P 10 17 24 P P P 40,891 40,492 40,781 40,916 38,937 38,285 38,886 38,611 40,646 40,243 40,492 40,552 163.2 162.9 163.7 164.1 720.0 720,6 719.9 719.9 543.9 544.9 544-0 545-4 173.3 173-8 173- 7 173.1 18.3 17,8 18-0 19-2 154.9 156, 1 155,-7 153.8 2,9 1.9 2-2 1.5 JULY 1 8 15 22 P P P P 4,1,161 40,995 40,671 41,424 39,426 39,129 39,376 39,694 40,673 40,494 40,542 41,094 164.6 164.5 164.4 165.5 722.1 727.0 728.4 727.6 547.9 550,7 553.3 554.8 172. 6 174.0 172.9 170.7 17.9 17, 6 17,8 17*5 154,6 156. 5 155. 1 153.2 1-6 2^3 2.3 2,1 not seasonally adjusted 1980—JUNE JULY AUG. SEPI OCT. NOV, DEC. 1981—JAN. FEB. MAR. APR. MAY JUNE P P 43,472 42,859 40,373 41,164 41,704 41,221 40,619 43,092 42,464 39,715 39,852 40,394 39,161 38,929 43,268 42,575 40,071 40,908 41,498 40,723 40,067 158.6 159.6 158.0 159.0 160.6 161.6 162.5 656, 9 658.2 662.5 675.6 684.2 694.5 710.3 467.4 466,0 471.8 479.6 485.7 493.2 505.0 187.2 190.0 189.0 193.9 196.4 199.5 203.2 16.6 16.8 14.2 15.9 16.5 18.0 18-2 170,6 173, 2 174.8 178.0 179. 8 181.5 185,0 2.3 2.2 1.7 2,1 2.1 1-9 2.1 P P P P P P 41,569 39,631 39,753 40,217 40,477 40,430 40,175 38,327 38,753 38,879 38,249 38,393 41,025 39,448 39,372 40,072 40,213 40,098 161.0 158.9 159.6 161.7 162.7 163.3 712.6 701,5 702.9 713.5 710.0 719.7 520,6 524.9 527.8 531.6 538.1 545.0 189.9 174,5 173.0 178.9 169.8 172.2 18.2 17.7 17.7 17.3 16.9 17.8 171.7 156.8 155.4 161.6 152,9 154,4 2,1 2.0 2.1 3,0 2-1 2.5 WEEK ENDINC JUNE 3 10 17 24 P P P P 40,100 39,511 40,512 40,649 38,146 37,304 38,617 38,344 39,855 39,262 40,223 40,285 162.1 163.1 163.7 163.3 718.2 719.3 721.9 716.0 544.4 545.4 544.0 543.8 171.6 172.2 174. 1 169.7 18.3 17-2 17,8 17.9 153,2 155.0 156,4 151.8 2.3 1.7 3.8 2.5 JULY 1 8 15 22 P P P P 41,318 40,518 40,624 41,680 39,583 38,652 39,329 39,950 40,830 40,017 40,495 41,350 164.0 166.3 165.5 166.0 721.9 730.7 728.8 726.3 547.3 550.7 551.6 553.2 172.8 177.7 175.3 171.3 18.7 18.3 18.4 17.7 154,2 159.5 156.9 153.7 1.7 2.3 1.9 1.8 See reverse side for explanation of footnotes. H.3 Table 2 AGGREGATE RESERVES AND MONETARY BASE Adjusted for changes in reserve requirements 4 —> Reserves of depository institutions required total 2 ~ l non borrowed millions of dollars seasonally adjusted Period Monetary base '* ,bill ions of dollars Reserves of depository institutions total 2 | non borrowed [ required millions of dollars not seasonally adjusted Monetary base * billions of dollars 1980—JUNE JUNE JULY AUG. SEPT. OCT. NOV. 5 / P D&C. P 37,460 37,460 37,570 38,050 38,725 38,893 40,056 40,110 37,081 37,081 37,176 37,392 37,414 37,583 37,997 38,420 37,257 37,257 37,286 37,748 38,470 38,687 39,559 39,558 151.7 151.7 152.8 154. 6 155.7 156.9 159.0 159.5 37,007 37,007 37,665 37,706 38,401 38,875 40,056 40,598 36,628 36,628 37,270 37,048 37,090 37,565 37,996 38,907 36,804 36,804 37,380 37,404 38,145 38,669 39,558 40,045 151.2 151.2 153.5 154.5 155.3 156.9 160,. 0 162,4 1981—JAN. FEB. BAR. APR. MAY JUNE P P P P P P 40,079 39,587 39,981 39,982 40,401 40,321 38,684 38,284 38,982 38,644 38,173 38,284 39,535 39,404 39,600 39,838 40,137 39,988 160.1 160.4 161.4 162.4 163.7 163.9 41,548 39,461 39,487 39,951 40,068 39,919 40,153 38,157 38,487 38,613 37,840 37,882 41,004 39,278 39,106 39,806 39,805 39,587 161.0 158,7 159.7 161.9 162.9 163^4 WEEK ENDING: 1981—JUNE 3 10 17 24 P P P P 40,380 39,981 40,270 40,405 38,426 37,774 38,375 38,100 40,135 39,732 39,981 40,041 163.3 163.0 163-8 164.2 39,589 39,000 40,001 40,138 37,635 36,793 38,106 37,833 39,344 38,751 39,712 39,774 162.2 163,2 163.8 163,. 4 JULY 1 8 15 22 P P P P 40,650 40,484 40,160 40,913 38,915 38,618 38,865 39,183 40,162 39,983 40,031 40,583 164.7 164.6 164.5 165.6 40,807' 40,007 40,113 41,169 39,072 38,141 38,818 39,439 40,319 39,506 39,984 40,839 164.1 166.4 165,6 166.1 p -• 1/ 2/ 3/ V 5/ PRELIMINARY INSTITUTIONS SERIES REFLECT ACTUAL RESERVE REQUIREMENT PERCENTAGES WITH NO ADJUSTRESERVES OF DEPOSITORY SfSL«nJi5?, I N A T ! T H E E F F E C T 0F CHANGES IN REGULATIONS D AND K. PRIOR TO NOVEMBER 13, 1980, THE DATE OF IMPLEMENTATION OF THE MONETARY CONTROL ACT, ONLY THE RESERVES OF COMMERCIAL BANKS THAT WERE MEMBERS OF THE n ! ^ Se t L R vY S ? R V E S Y S T E M B E R E I N C L 0 D E D I N T HE SERIES. SINCE THAT DATE THE SERIES INCLUDE THE RESERVES OF ALL 2 S £ ^ ° 5 INSTITUTIONS. IN CONJUNCTION WITH THE IMPLEMENTATION OF THE ACT, REQUIRED RESERVES OF MEMBER BANKS WERE REDUCED ABOUT $4.3 BILLION AND REQUIRED RESERVES OF OTHER DEPOSITORY INSTITUTIONS HERE INCREASED ABOUT $1.4 BILLION. ALSO IN CONJUNCTION WITH THE MONETARY CONTROL ACT, REQUIRED RESERVES OF CERTAIN NONMEMBER BANKS M ? ?1T0 T nBB EF^ ; ^ A T E D F BIBNHS0T1IHTID T18 * 0 N S1 9 8INCREASED PURSUANT2 TO THE TRANSITIONAL PHASE-IN PROGRAM BY APPROXIM^ELY $24^ 1 A N D BY A N 0 T H E R ?S5 !. £ X^I2n. ' $ * 5 MILLION EFFECTIVE MAY 20, 1981. EFFECTIVE OCTOBER 11, 1979, AN 8 PERCENTAGE POINT MARGINAL RESERVE REQUIREMENT WAS IMPOSED ON "MANAGED LIABILITIES". THIS ACTION RAISED REQUIRED RESERVES ABOUT $320 MILLION, EFFECTIVE MARCH 12, 1980, THE 8 PERCENTAGE POINT MARGINAL RESFRVF REQUIREMENT WAS RAISED TO 10 PERCENTAGE POINTS. IN ADDITION THE BASE UPON WHICH THE MARGINAL RESERVE *ESEEVE S S X 1 ™ ? ^ ™ r ? A 5 C 0 ^ -D H A S * E D 0 C E D - T H I S ACTION INCREASED REQUIRED RESERVES i X u S 5 " ? BILLION IN THE I SSp^SJfS/XSni'.l^ EFFECTIVE MAY 29, 1980, THE MARGINAL RESERVE REQUIREMENT WAS REDUCED FROM 10 TO 5 PERCENTAGE POINTS AND THE BASE UPON WHICH THE MARGINAL RESERVE REQUIREMENT WAS CALCULATED WAS RAISED THIS ACTION REDUCED REQUIRED RESERVES ABOUT $980 MILLION IN THE WEEK ENDING JUNE 18, 1980. EFFECTIVE jlll 24 1980 THE 5 PERCENT MARGINAL RESERVE REQUIREMENT ON MANAGED LIABILITIES AND THE 2 PERCENT SUPPLEMENTARY RESERVE AGAINST LARGE TIME lllllll*Ef P O S I T S WERE REMOVED, THESE ACTIONS REDUCED HEQOIMD HBsS2"l S L 5 5 S 2 BILLION RESERVE BALANCES WITH FEDERAL RESERVE BANKS PLUS VAULT CASH AT INSTITUTIONS WITH REQUIRED RESERVE BALANCES XXU11UWi> H fiB BED PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS. * ^ Q°I HESERVE BALANCES ? ™R° S ! ! DR ET S ESRAVTEI SBALANCES AT FEDERAL RESERVE BANKS IN THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS EARFY RESERVE ™* cn»v ° REQUIREMENTS AT ALL DEPOSITORY INSTITUTIONS PLUS CURRENCY OUTSIDE THE U.S. ?ORY Osii?uSlONS. R E S E R V E B A N K S ' T H E VA0|jTS ° F D E * 0 S I T 0 R I INSTITUTIONS, AND SURPLUS VAULT CASH A* DEPOSI- llSBlll i l G i f G A T E S S E R I E S H A V E B E E N A D J 0 S T E D TO REMOVE DISCONTINUITIES ASSOCIATED WITH THE IMPLEMENTATION OF THERMONETARY CONTROL ACT, MARGINAL RESERVE REQUIREMENTS, THE INCLUSION OF EDGE ACT CORPORATION RESERVES t ^ „ ^ 2 n « T c S N G E S I H EOLATIONS D AND K. PRIOR TO FEBRUARJ 18, 1981, RB«RTB A M B K W K ^ ADJUSTED HISTORICALLY TO CONFORM TO THE STRUCTURE OF RESERVE REQUIREMENTS CURRENTLY IN EFFECT BEGINNlSr lETESvTR^UlL^EN^Tf^DlfUTfL™"™ " MMf " THE ™ * 8 « * . T C . ; , S L S L S ^ I W S ^ S i n f l INCREASE IN THE AVERAGE LEVEL OF REQUIRED RESERVES THAT NEED TO BE HELD FOR A GIVEN LEVEL OF ^POSITS E^ERING THE MONEY SUPPLY. IN NOVEMBER, THIS INCREASE IN REQUIRED RESERVES IS ESTIMATED AT $550 TO $600 MILTON. 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. CAUSTICS.
@FedFRASER