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FEDERAL RESERVE statistical release H.3 (502) For Immediate Release Table 1 DECEMBER 2 8 , AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE 1981 Adjusted for changes in reserve requirements 1 Reserves o f depository institutions total 2 non borrowed required millions o f dollars seasonal I/ adjusted Period 1 9 80 — NOV. DEC. 4/ Monetary base3 billions o f dollars Reserves o f depository institutions total" I nonborrowed I required millions o f dollars not seasonally adjusted Monetary base3 billions o f dollars 3 9 ,1 8 7 3 9 ,1 8 7 37,, 128 3 7 ,4 9 7 3 8 ,6 66 38 ,7 1 9 1 57.7 15 8.2 3 9 ,1 8 9 3 9 ,6 5 7 37 ,1 3 0 3 7 ,9 6 6 3 8 ,6 6 8 3 9 ,1 8 9 158.7 161.0 3 9 ,1 8 2 3 8 ,9 4 8 39 ,0 70 3 9 ,2 6 5 39 ,5 4 2 39 ,3 5 1 3 9 ,6 0 9 39 ,8 8 3 4 0 ,6 1 5 4 0 ,2 6 6 4 0 ,2 6 8 37 ,7 8 7 3 7 ,6 45 38 ,0 7 0 37 ,9 2 8 37 ,3 1 4 37 ,3 1 4 3 7 ,9 3 0 3 8 ,4 6 3 39 ,1 5 8 3 9 ,0 8 6 3 9 ,6 0 5 3 8 ,8 7 2 3 8 ,6 7 2 38,821 39 ,1 38 3 9 ,3 6 7 3 9 ,1 02 3 9 ,3 5 9 3 9 ,6 81 40 ,2 90 40 ,0 7 7 4 0 ,0 0 2 158.7 159.0 159.5 16 0.5 161.7 161.6 162.7 163.4 164.0 1 63.9 164.7 40,601 38 ,8 1 9 3 8 ,5 9 0 39,231 3 9 ,2 2 8 3 8 ,9 6 4 3 9 ,5 4 6 3 9 ,3 8 9 39 ,9 9 7 4 0 ,1 30 40 ,2 5 0 3 9 ,2 0 7 37,5 1 6 37 ,5 9 0 37 ,8 9 4 37 ,0 00 3 6 ,9 2 7 3 7 ,8 6 7 37 ,9 7 0 3 8 ,5 4 1 3 8 ,9 4 9 3 9 ,5 8 7 4 0 ,2 91 38 ,5 4 4 3 8 ,3 4 2 39,1 0 4 3 9 ,0 5 3 38 ,7 15 3 9 ,2 9 6 39 ,1 87 3 9,6 7 3 3 9 ,9 41 3 9 * 98 4 159.6 157.4 157.8 159.9 1 6 0.8 161.2 163.3 163.2 163.3 163.8 165.6 P 4 0 ,4 1 3 40 ,0 08 40 ,1 2 7 4 0 ,2 0 3 3 9 ,1 7 6 3 8,9 9 9 3 9 ,5 6 6 3 9 ,8 6 6 4 0 ,1 2 6 39 ,5 76 40 ,0 5 6 4 0 ,0 51 1 64.5 164.1 164.5 164.6 4 0 ,3 60 3 9 ,5 81 40,3 40 4 0 ,2 3 9 3 9 ,1 23 38 ,5 7 2 3 9 ,7 7 9 3 9 ,9 02 4 0 ,0 73 3 9 ,1 4 9 40 ,2 6 9 4 0,0 8 7 16 4.2 165.3 165.8 ' 165.6 2 P 9 P 16 P 4 0 ,8 0 1 4 0 ,1 17 4 1 ,0 0 1 4 0 ,4 8 4 39 ,4 9 9 40 ,6 0 3 4 0 ,3 55 3 9 ,9 3 2 40 ,9 3 9 165.3 164.7 166.0 4 0 ,9 86 4 0 ,0 65 41 ,4 65 4 0,6 6 9 3 9 ,4 4 7 41 ,0 6 7 4 0 ,5 4 0 3 9 ,8 8 0 4 1 ,4 0 3 166.7 167.4 168.8 1981— JAN. FEB. MAR. APR. MAY JUNE JUL Y AUG. SEPT. OCT. NOV. P WEEK END ING : 1981 — NOV. DEC. P 1/ 2/ 3/ 4/ 4 11 18 25 PRELIMINARY RESERVE AGGREGATES I NCL UD E REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITORY IN STITU TIO N S. D I S C O N T I N U I T I E S AS SO C IA TE D WITH THE IM P L EM E N TA TI ON OF THE MONETARY CONTROL A C T , THE I N C L U S I O N OF EDGE ACT CORPORATION RE SE R VE S, AND OTHER CHANGES I N REGULATION D HAVE BEEN REMOVED. RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED C L EA 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 S . I N CL U DE S RESERVE BALANCES AND REQUIRED CLEARIN 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 ALL DEP OSI TOR Y I N S T I T U T I O N S PLUS CURRENCY OU TS ID E THE U . S . TRE A SU RY , FEDERAL RESERVE B AN KS , THE VAULTS OF DEP OSITORY I N S T I T U T I O N S , AND SURPLUS VAULT CASH AT DE PO SIT OR Y I N S T I T U T I O N S . R I S E R V E MEASURES FROM NOVEMBER 19 80 TO DATE REFLECT A O N E - T IM E IN CR EA SE — ESTIMA TE D AT $ 5 5 0 TO $600 M I L L I O N — I N REQUIRED RESERVES AS SO C IA T ED WITH THE REDUCTION OF WEEK-END AVOIDANCE A C T I V I T I E S OF A FEW LARGE BANKS. 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 , D I V I S I O N GOVERNORS OF THE FEDERAL RESERVE SY ST EM , WASHINGTON, D . C . 20551. O? RESEARCH AND S T A T I S T I C S , BOARD OF H.3 Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS Not adjusted for changes in reserve requirements Average of daily figures, not seasonally adjusted________________ Reserves o f depository institutions1 total* Period nonborrowed required Monetary base3 millions o f dollars 1 9 8 0 — NOV. DEC. 4 1 ,2 4 4 4 0 ,6 1 4 3 9 ,1 84 3 8 ,9 2 4 4 0 ,7 2 3 4 0 ,1 46 16 1.6 16 2.4 1981— JAN. FEB . MAR. APH. MAY JUNE JULY AUG. SEPT. OCT. NOV. P 4 1 ,5 35 39 ,7 5 4 3 9 ,6 9 3 40 ,2 91 4 0 ,4 33 4 0 ,3 53 4 0 ,9 1 7 4 0 ,9 3 3 4 0 ,5 01 40 ,6 2 2 40 ,8 6 7 40,141 3 8 ,4 5 0 38 ,6 9 4 3 8 ,9 5 3 38 ,2 05 38 ,3 16 39 ,2 3 8 3 9 ,5 1 4 3 9 ,0 4 5 3 9 ,4 4 2 4 0 ,2 0 4 41 ,2 2 6 3 9 ,4 7 8 39 ,4 4 5 40 ,1 64 4 0 ,2 5 8 4 0 ,1 04 40 ,6 6 7 4 0 ,7 3 1 4 0 ,1 7 7 4 0 ,4 33 40 ,6 01 16 1.0 158.8 159.5 16 1.6 162.6 163.3 165-4 165.4 163.9 164.3 16 6.3 9 4 0 ,8 2 2 4 0 ,0 6 8 41 ,0 74 40 ,9 0 5 3 9 ,5 8 5 3 9 ,0 5 9 4 0 ,5 1 3 4 0 ,5 6 8 40 ,5 3 5 3 9 ,6 3 6 41 ,0 03 40 ,7 53 164.8 165.9 16 6.6 166.3 2 P 9 P 16 P 4 1 ,6 76 4 0 ,7 9 3 4 2 ,1 9 3 4 1 ,3 59 4 0 ,1 7 5 4 1 ,7 9 5 41 ,2 3 0 4 0 ,6 0 8 42 ,1 31 1 67.5 168.2 169.6 WEEK E N D I N G : 1981 — NOV. DEC. ,/ 4 11 18 25 RESERVES OF D EP OSI TOR Y IN S T IT U T IO N S SERIES REFLECT ACT UAL ^ S E R V E RE Q0 IB E« E N ^[ ^ R C E N T A GES S M & P P iS iu a & s a & s ip 5 £ l O „ SURPLUS VAULT CASH AT D EP OSI TOR Y I N S T I T U T I O N S . AND NOVEMBER