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H.3 . . T..... 1 lUGUST AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE dally,...... _,..ny AdjuMed tor cMngM In - A--o- of MHIIoMof..._ 8djueled un.... noted OlllerwiM . ...__of ~·tory lnetltutlona r.quiNd -~pi- total• -~ 1987-JUJB JULY AUG. SEPT. OCT. IOV. D.BC. 58,t>53 58,499 58,810 58,815 59,466 59,053 58,722 57,876 57,827 58,163 57,871J 58,523 58,428 57,944 CNdlt' 58,149 58,021 58,295 58,283 58,973 58,822 58,428 57,462 51,138 57,178 58,021 58,338 58,129 57,693 1988-Jll. I'BB. 59,458 59,573 59,760 60,3711 60,365 60,f>37 58,376 59,177 58,009 57,380 57,787 57,555 58,748 59,382 59,487 60,004 59,894 60,108 58,163 sa, 440 58,832 59,515 59,325 59,750 !)Me Ill B. APB. lUI JUliE extended -- Monetary ~~ae• NSA' 1,190 761 1,032 793 1,129 923 1,029 249,450 250,409 251,919 253,024 255,296 256,9.38 257,928 1,295 1,131 929 859 1,040 887 260,721 262,019 263,315 265,808 266,924 268,309 llonowlnge of depNitory lnetltutlone fnlm the .,._.. "-trve, NSA extended CAidlt" total -' ,,. 62S 111 259 283 279 231 189 126 93 132 409 449 394 4U 1,0U 396 1,752 2,993 2,578 3,083 59 75 119 1116 2116 311 372 205 1,471 2,624 2,107 2,554 672 647 940 9U JULI ---- 2Jl 194 I rllO WEEKS BIIDJ:IG -------1988-JUIE 4, 1988 ....,....._... 15 29 60,320 60,376 60,887 57,200 56,911 58,230 59,738 59,897 60,368 59,138 59,680 59,827 1,182 696 1,060 267,U5 267,313 269,238 3,120 3,465 4!,658 269 281 337 2,53. 2,986 2.13. 13 27 p 61,117 61,357 57,461 58,089 S9,801 60,752 f>0,259 60,143 858 1,2U 270,170 270,974 3,656 3,268 352 390 2,340 2,663 1 I P---PBELJ:IUHABY PI--PBBI.IIIii&BJ ISTJ:IIAtB 1/ BBSEBYES ABD IIOIETAB! BASE I'IGUBBS IICOBPDBAIB ADJUSTIIBIIS POl DISCOI~l18ITIBS ASSDCJ:ATBD 1118 ~HB l&PLBBBI~ATlOI OP laB BOIBTARI COBTROL ACT AID OTBBB 8BGULArORI CHAIGBS '1'0 BIS.BBJB 8BQDIRBBBI~S•. ~O ADJ8St POR DJ:SCOITJ:IUlrl&s DUB ro CBAISBS 11 BBSERVE REQUIBEKEITS 011 RBSERYABLB IOIDEPOSII LIABILITJ:&S, TBE SUII OP SUCH IIQUIBBD llBSEBf&s ARB SIBfBACr&D 'ROI ~BB ACfUAL SBBIBS. SIBILAIL!, II ADJUS~IHG POB DISCOBIIIU1211S II TBB BOIBrABI BASB, BBQUJ:aiD CLBA&J:IG 8ALAICBS AID ADJGStaBBrs 10 COKPEISATE 1'08 PLDAI ALSO ARB SUBIBACTBD PllOft 'l'ME ACTUAL SERIES. 2/ TOTAL BBSEBYES JIOT ADJUSTED 1'08 DlSCOITIIDJ:TIBS COISISIS OP BBSBIIB BALAICBS 11~8 I'IDIRAL BBSBifl BAliS (111¢1 BICLODB RE~UIRBD CLEARING BALlBCES AND ADJOSTSEirS ~0 COBPBISATE POB PLOAT) PLUS fAULT CASH USBD TO SAIJ:SPI BBSBBfB BBQe11BBIIIS •. SUCH VAUL'l' CASH COISISTS OP ALL fAULT CASH HBLD DUBIJIG THE LAGGID COSPOTATJ:OB PBBIOD Bl IISTITDTIOJS BlfliiG.BBQUlBBD BBSBBIB BALAIICBS AT FEDBBAL BBS.I!RVB BAtiKS PLUS THE AIIOUIIT OF YAUL'l' ClSB BQUAL TO RBQUIUD BBSBBYBS DUBXIG TBI IS.UITIIAICB PBtiXOD AT IISTITUTIOBS HAYIIG 10 REQUIRED BISBBVB BlLAICBS. 31 EITEIDBD CREDIT COJISIS'l'S 01' BORROIIBG AT THE DISCOUIIT IIIDOI OJIDBB IRE TEBSS ABD COIDltiOIS BSIABLJ:SBBD 1'08 TBB BXT&IDBD CREDU PROGBAI!I 70 HELP DB!'OSiftlRI IBSt.IUfJ:OIIS D&AL IIJ:TH SOSTAIIBD LXQlUDITI PBBSSUBBS. BICAIJSB IIIBBB J:S 101 TBB SA.U IUD ro BEPAI SUCH BORfiOWJ:IIG PBOBPTLI AS TH.BBB IS WJ:TB TRADITIOJIA£ SHORT-TBBK ADJDSTABJT CREDIT, fBE 801¥1 IARKET IBPACT 01' BXTBJDBD CBEVIT IS SIBILAB TO THAT 01' IIOBBOBBOVBD RESERVES. 4/ BESEBVB BALAJICES WITH PEDEBA~ BESEBTB BAI~S PLUS VAULt CASH DSID TO SATJ:SPI BBSEBJE BIQUIBIBBITS LBaS BBQUIRBD BBS&BVBS., 5/ THE ft0116TA&I BASE liOT ADJUSTED POR DISCOBTIBUITIBS COISISTS 0~ TOTAL RESERJBS PLUS REQUJ:BBD C£BARIJG BAJ.AICBS AID ADJOSriiBI'l'S tO COKPEHSATE FOR FLOAT AT I'EDEBAL RESERVE BAliS PLUS THE CO&EBMCI COBPOIEBI 01' THE BOIEl STOCI PLUS• 108 .IJSTITUTXOIS lOT HAYIIG REQDIBED RESERVE BALAICES, THE EXCESS Of CUBBBIT fAULT CASH OVER THE AIIOUIT lPPLJ:ID TO SATJ:SFI CUBREII BBSBRVB BEQOIRB4EJTS. AFTER THE IBTBODUCflOB OF CCB* CUBBEIICI AID VAULT CASH F.IGUBBS ABE ftElSUBBO OJEB IBB IOIDlf-BID.IIG COIIPUTATIOM PERIOD. THE SHASONALLl ADJUSTED IIOIIBTAB! BASE CDIS.ISTS OP SBASOJAJ.J.Y ADJUSTED TO~lL RBSBRVE (BBICH .IICLUDBS EXCESS RESERVES ON A lOT SBASONALLI ADJUSfED BAS.IS, PLUS TBB SEASOIALLI ADJUSTED CDBBBIC! COBPOIEIT 01' THE IOIXI SIOCK PLUS i'HE REIIAINIIIG ITEIIS SEASOIIAJ.J.f ADJUSTED AS A IIHOLE. IOTE: HISTORICAL DA'l'A ARE AVAILABLE 1'8011 THE ftOIBl AID RESERVES P&OJICTIOHS SECTJ:OB, DIVJ:SIOI OP BOIBTARI APFAIRS, BOABD Ol GOVEBIORS Of THE PEDEBAL RESERVE SYSrBK• IIASHIIG'l'OM, D.C. 20551 .. H.3 (502) Table 2 AG_GR~GATE RI;$E~_V_El_QF _DEPOSITORY INSTITUTIONS AND THE MONETARY BASE N~~ted·lo_rc.changes_ln reserve requlremenea A_... of dalf'y flgurH,'not seasonally adjust Millions of dollars Monetwy Date total nonborrowed required ~ Reserve bala~.e. with F.R. Sank& ,t------,-,..,.,-,--,--,,..---,------l surplull:,; total IIOY. DEC. .58,784 58,838 58,361 59,813 (>1,106 61,.205 62,123 58,008 58,166 57,714 58,873 60,163 60,580 61,346 57,594 58,078 57,329 59,020 59,977 60,282 61,094 252,539 254,611 254,360 255,691 258,076 261,614 266,161 36,309 36,110 35,616 lf>,685 37,249 37,453 31,613 24,369 21t,61l 21t,61to\ 24,854 25,587 25,1131 26,155 .ll,415 22,728 22,145 23,1.18 23,857 23,752 24,1tll9 1,89.J 1,885 1,899 1,726 1,730 1,679 1,706 1988--JAI. FEB. IIAL lPB. IIAY JUIE 62,640 60,04H 60,076 62,064 1>0,681 61,991 61,558 59,650 58,324 59,011 58,103 58,908 61,345 58,914 59,147 61,205 59,641 61,104 265,789 262,598 263,979 268,127 268,899 272,65. 37,1t85 311,211 36,027 38,1129 36,509 37,901 26,919 28,119 25,926 25,200 25,873 25,717 25,155 25,836 24,049 23,636 24,112· 24,084 1,7611 2,283 1,871 1,561t 1,JOQ 1,632 1 15 29 60,125 62,258 61,752 57,005 58,794 59,095 58,943 i1,563 60,692 268,748 213,136 272,11t8 35,101 38,644 37,260 26,265 25,118 26,237 24,1118 23,614 24,1192 1,847 1,504 1,7165 298 13 63,461 62,294 59,805 59,026 62,603 61,081 276,907 274,491 38,833 31,1t05 26,270 26,647 24,628 24,890 1,642 1, 757 194 30 1987-JUIB JULY lUG. SEPT. ocr. TWO IIBBKS EIDl:IG --------1988-JUIB JULY 27 p P--- nELIIIU ABY PB--PBELliiZIARI BSTIIIATB. 1/ REFLECTS ACTUAL BBSEBIB BEQUIBBBBITS, ZICLODIIG THOS& 01 IOIDBPOSIT LilBZLX!IBS, liTH 10 lDJUSTB&Its TO BLIIIIIlTJ TBE EFFECTS OF DISCOITliUlTl:BS lSSOC1lTBD WITH liiPLBBBa!ATIOI or THB BOIBrlBI COITBOL ACr OR OTHBa BI6ULlTOBI CHANGES TO IBSBBYE IBQUl:BBBBITS. 2/ COI£l:STS OF TOTAL BESBIYBS PLUS BBQUZBBD CLJlBIIG BlLliCBS liD lGJUSTBBITS TO COBPBJS&~&-~oa·~. · 4~1~,FBDBBAL RBSBRVB BAHKS PLUS THB CURRBICI COBPOIBII! OF TBI 110111 STOCK LBSS THE &BOUlT OF flULr ClSRJBOLD~IG~:g, ~ia.ttt.IJS!Ir&rl:OBS TBlT IS ZICLUDBD Zl THE CURRBICY COBPOIIIT 01 TB& aoJBI STOCI PLUS, lOB liS!l:TUTIOJS·~oTcB&rt·~-BQBllaD'IiS&al& BlLliCBS, THB EXCESS 01 CORBEIT VAULT CASH OVBB THE ABOUIT APPLIED TO SlTISPY CU88&1T BBSIIIB IBQ011JBB~TS •• li!Ba TBB II!BODUCTIOI OF CBB, CUBREIICI AID fAULT ClSB PZGOBBS ARB BBlSURBD OYER TBB 8010&1-BIDLIG COBPU!l~OI PERIOD. 31 EXCLUDES REQUIRED CLBARIIG BALAICBS AID &DJUS!BBITS TO COIIPBIS&TB lOB PLO&r•. 4/ DATES REFER TO THE ftllJTIIAHCE PERIODS II WBZCB TBB YlDLr CASH CAl BB OSBD TO SATISri·BBS&aVB BBQUIBBBBITS. 010&1 COITEIIPOBAREOOS BESBBIB RJQUZBEIIEITS• llliiTBiliCB PBRZODS BID 30 DAIS lFTBB TBB L&GGBD COIPDTl!ZOI P&RIODS . Z1 IIHlCH THE BU.AICBS ABE HELD. . . . . . ,. . . > . 5/ BQOAL TO ALL YlOLT CASH BJJ.I) DUBUC. 'fBI! LAGGBD COBPUTAriOI P&Rl:OD Bl IIS~UIJriCYS ·811'111[ &JftUJRBD 'BUlBYt'-BlLAICJS lT UDBUL BISBBVB BllltS PLUS TBB liOUI'f or UULT ClS8 BQUAJ. 7:0 IBQUIBBD KBSUOS~,DU~a~. 'fMI IAIIT.U-&b' Pi:UOD &r IIS'fZTDriOIS HlfliG 10 IBQUZBBD BESEB•E BALliCBS. 6/ 'fOTAL fAULT CASH At ZISTITOTZOIS BAlliCO 10 BBQUIBBD IBSBR•B B&LAICES LBSS !IB &BOUlT OP flUL'f CASH &QUAL TO ~BIB KEQUli&D BBSBBIES DOBZIIG THB ftAZI'fBIAICI PBBIOO. 11 COISIS'fS OF CA&BYOYBi OILI lT DEPOSI'fOBY IIS'fi'fUTIOIS llliirAIIIIG IBSBIIBS OJ 'fBB BASIS OF !WO-IIBBI AAIITBIAICB PBBlODS. BEl'LECTS BlCBSS (•) OB DIFZCU (-) RBSBBYES BJ.IGIB.LB TO ·a& CUBIED I'OBUBD ZUO ru TBG-I&BI IJSJBYJ .: RAII'fBIIINCE PF.RIOD EIIDIIG nu ~uP n•$• SROVI. 67 H.3 (502) Table 3 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjusted for changes In reserve requirements 1 Averages of dally figures, not seasonally adjusted Millions of dollars Date Monetary baH Reserves of depo81tory Institutions nonborrowed required 59,073 59,136 60,023 57,818 58.0164 57,721 57,571 58,130 58,511 59,245 57,404 57,956 57,336 57,718 51,944 58,213 58,994 61,199 58,663 58,851 60,947 59,454 60,679 60,111 58.267 57,099 57,954 56,876 57,596 59,904 57,530 57,922 60,088 58,414 59,791 1 15 29 58,801 60,986 60,1601 55,681 57,521 57,743 57,619 60,.l90 59,341 265,452 269,942 268,921 13 21 p 62,153 61,032 58,497 57,764 61,296 59,818 273,716 271,362 total 58,594 58,711 58,369 1987-.JOIE dOLI AUG. SEPT. ~8,512 ocr. IIOV. DEC. 1988-Jll. PBB. su. APB. IllY JUIE ~50,166 252,308 252,~08 252,445 254,119 257.651 262,053 262,006 259,011 260,172 265,007 265,132 269,442 WEEkS EIDIIG ~riO ---------1988-JUIE JOLI P---PBJil.lllllllBY PB--PBELIIllB&BY ESTllllTB. 1/ FIGURES BEPLECT lDJUSTilBITS POB DISCOITIIUITIBS ASSOCIAtED IITI 'fBI IIIPL&IlBITA'liOI OP 'til IIOIB'lA&I COI'lBOL ACT AID OfBBB BEGOL&'lOBI CH&IGIS 'tO IESBBVE BBOOIIBSIITS.
@FedFRASER