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FEDERAL Rfe^ij\feE statistical release itf3- *' 0f H.3 (502) 'e\iii- For Immediate Release Table 1 AOGOST 3 0 , AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve requirements! Averages of daily figures Reserves of depository institutions total2 Period required nonborrowed millions of dollars seasonally adjusted Monetary base3 billions of dollars Reserves of depository institutions total2 nonborrowed required millions of dollars not seasonally adjusted 1982 Monetary base3 billions of dollars 1981—JUNE JULY AUG, SEPT. OCT. NOV. DEC. .39,619 39,727 39,810 40,312 40,118 40,150 40,527 37,582 38,048 38,390 38,855 38,937 39,487 39,891 39,281 3 9 , 3 87 39,518 39,898 39,840 39,805 40,208 161.7 162-5 162.9 163.7 163.8 164.3 165-8 39,053 39,636 39,479 40,087 40,219 40,332 41,263 37,016 37,957 38,060 38,630 39,038 39,669 40,626 38,715 39,296 39,187 39,673 39,941 39,987 40,943 161.2 163.3 163.2 163.3 163.8 165.6 168.9 1982--JAN. FEB. MAR. APR. . MAY JUNE JULY 41,277 40,927 41,090 41,181 41,329 41,441 41,426 39,759 39,137 39,534 39,613 40,212 40,236 40,734 40,859 40,623 40,728 40,908 40,971 41,133 41,112 167.4 167.9 168.5 169.8 171.0 172.1 172.6 42,656 40,735 40,533 41,086 40,984 40,882 41,284 41,178 38,946 38,977 39,518 39,867 39,678 40,593 42,278 40,432 40,172 40,813 40,625 40,574 40,971 168.5 166. 1 166.5 168.9 170.4 171.5 173.4 41,481 40,754 41,652 41,726 40,411 40,195 41,058 41,178 40,980 40,570 41,385 41,415 172.6 171.6 172.7 172-8 40,980 40,353 42,014 41,756 39,910 39,794 41,420 41,208 40,479 40,169 41,747 41,445 174.4 173.0 173.8 172.5 41,636 41,700 42,102 41,771 40,957 41,331 41,619 41,162 41,342 41,307 41,792 41,532 173.4 173.2 174.0 173.8 41,365 40,904 41,922 41,573 40,686 40,535 41,439 40,964 41,071 40,511 41,612 41,334 173.4 174.3 174.9 173.4 P WEEK ENDING: 1982—JULY 7 14 21 28 AUG. 4 11 18 25 1/ 2/ 3/ P P P P RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITORY INSTITUTIONS. DISCONTINUITIES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT, THE INCLUSION OF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES IN REGULATION D HAVE BEEN REMOVED. BEGINNING WITH THE WEEK ENDED DECEMBER 23, 1981, RESERVES AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF RESERVABLE LIABILITIES TO INTERNATIONAL BANKING FACILITIES (IBFS). ON THE BASIS OF REPORTS OF LIABILITIES TRANSFERRED TO IBFS BY U.S. COMMERCIAL BANKS AND U.S. AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIMATED THAT REQUIRED RESERVES WERE LOWERED ON AVERAGE BY $10 TO $20 MILLION IN DECEMBER 1981 AND $40 TO $70 MILLION IN JANUARY 1982. RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT INSTITUTIONS WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS. INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS IN THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS EARLIER USED TO SATISFY RESERVE REQUIREMENTS AT ALL DEPOSITORY INSTITUTIONS PLUS CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND SUJRPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS. 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. H.3 Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS Not adjusted for changes in reserve requirements Average of daily figures, not seasonally adjusted Reserves of depository institutions1 total2 Period nonborrowed required Monetary base3 millions of dollars 1981—JUNE JULY AUG. SEPT. OCT. NOV. DEC. 40,442 41,007 41,023 40,591 40,711 40,948 41,924 38,405 39,328 39,604 39,134 39,531 40,285 41,287 40,104 40,667 40,731 40,177 40,433 40,604 41,604 163.3 165.4 165.4 163.9 164.3 166.3 169.7 1982—JAN. FEB. MAR. APR, MAY JUNE JULY P 43,203 41,286 39,235 39,557 39,550 39,565 39,967 41,685 39,496 37,679 37,989 38,433 38,360 39,275 42,784 40,982 38,873 39,284 39,191 39,257 35,653 169.1 166.8 165.4 167.6 169.2 170.4 172.3 1982—JULY 7 14 21 28 39,721 39,110 40,655 40,368 38,651 38,551 40,061 39,820 39,220 38,926 40,388 40,057 173.4 172.0 172.7 171.4 AUG. 4 11 18 25 39,995 39,531 40,636 40,281 39,316 39,162 40,153 39,672 39,701 39,138 40,326 40,042 172.3 173.2 173.9 172.4 WEEK ENDING: 1/ 2/ 3/ P P P P RESERVES OF DEPOSITORY INSTITUTIONS SERIES REFLECT ACTUAL RESERVE REQUIREMENT PERCENTAGES WITH NO ADJUSTMENTS TO ELIMINATE THE EFFECT OF CHANGES IN REGULATION D, INCLUDING CHANGES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT. INCLUDES REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND, BEGINNING NOVEMBER 13, 1980, OTHER DEPOSITORY INSTITUTIONS. UNDER THE TRANSITIONAL PHASE-IN PROGRAM * OF THE MONETARY CONTROL ACT OF 1980, THE NET CHANGES IN REQUIRED RESERVES OF DEPOSITORY INSTITUTIONS HAVE ~ BEEN AS FOLLOWS: EFFECTIVE NOVEMBER 13, 1980, A REDUCTION OF $2.8 BILLION; FEBRUARY 12, 1981, AN INCREASE OF $245 MILLION; MARCH 12, 1981, AN INCREASE OF $75 MILLION; MAY 14, 1981, AN INCREASE OF $245 MILLION; AUGUST 13, 1981, AN INCREASE OF $245 MILLION; SEPTEMBER 3, 1981, A REDUCTION OF $1.3 BILLION; NOVEMBER 13, 1981, AN INCREASE OF $220 MILLION; JANUARY 14, 1982, A REDUCTION OF $60 MILLION; FEBRUARY 11, 1982 AN INCREASE OF $180 MILLION; MARCH 4, 1982, AN ESTIMATED REDUCTION OF $2.0 BILLION; MAY 13, 1982, AN ESTIMATED INCREASE OF $160 MILLION AND AUGUST 12, 1982 AN ESTIMATED INCREASE OF $140 MILLION. BEGINNING W U H THE WEEK ENDED DECEMBER 23, 1981, RESERVE AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF RESERVABLE LIABILITIES TO INTERNATIONAL BANKING FACILITIES (IBFS). ON THE BASIS OF REPORTS OF LIABILITIES TRANSFERRED TO IBFS BY U.S. COMMERCIAL BANKS AND U.S. AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIMATED THAT REQUIRED RESERVES WERE LOWERED ON AVERAGE BY $60 TO $90 MILLION IN DECEMBER 1981 AND $180 TO $230 IN JANUARY 1982, MOSTLY REFLECTING A REDUCTION IN RESERVABLE EUROCURRENCY TRANSACTIONS. RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT INSTITUTIONS WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS IN THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS EARLIER USED TO SATISFY RESERVE REQUIREMENTS AT ALL DEPOSITORY INSTITUTIONS PLUS CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS.
@FedFRASER