The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
'~·~,.f/-
_E_D_E_R_A_L--:::-R-:::::::E:-:::-S-==E-=-R:-:V-=-E-s-:-ta---:t-::-is-::-tic-a--=-1-re--=-le_a_s_e_ _ _ _ _
F
~==:.=::.:.....:.:-=:.._:_==.=..:==-.:....:._==--=-:.=:.:.::.:...::..~~-~__;_,;;....__ _ _ _ _ _ _ _ :·:i-~
:~~I ~
•"•9?~rtf.St;~•'
·- ....
For ReiMie II 4:30 Eutem Time
H.3~
Table 1
DBC.EIIBBB
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adl,..ted for chengea In -
~~-.- of dally fig-.
requl-11
J, 1987
1
- ' ' Y adfulled un,... noted othetwl..
Mllllona of dollerl
Rnervea of depository lnatltutions
required
nonborrowed plua
nonborrowed
extended credit1
total•
Data
excess
NSA4
Monetery baM1
Borrowlnga of depository Institutions
from the Federal Rnerve, NSA
MUOnal
extended credit'
total
1986--IOY.
DIC.
54,1189
56,166
53,737
55,340
54,155
55,6113
53,511
5ll,798
978
1,369
236,875
239,513
752
827
70
38
1118
303
1t87--.JAI.
56,8811
56,873
56,852
57,954
58,352
57,706
57,602
57,876
57,825
58,1196
58,015
56,304
56,317
56,325
56,961
57,317
56,930
56,929
57,229
56,885
57,553
57,390
56,529
56,600
56,589
57,231
57,604
57,203
57,1211
57,360
57,2911
58,003
57,784
55,816
55,662
55,936
57,127
57,273
56,516
56,8111
56,8411
57,032
57,368
57,086
1,068
1,211
916
827
1,079
1,190
761
1,032
793
1,128
929
2112,1U1
2113,970
2U,563
2116,586
2118,372
2118,481
2119,1157
250,798
251,852
2511,352
256,175
sao
34
556
527
993
1,035
176
672
647
940
9113
625
71
91
120
196
259
283
279
231
189
126
225
283
20.
270
288
273
1911
132
1109
11119
3911
59,575
57,668
58,898
57,108
59,288
57,442
58,01ll
57,172
1,561
496
256,7ll3
255,693
677
561
169
125
390
33ll
57,898
57,216
57,681
56,676
1,223
256,5117
683
114
465
PBB.
ll&L
APL
Ill
.JUIB
JULY
AUG..
SBft'.
OCL
lOY. PI
I
t'IO III&S
IIDIIG
------1987-IOY.
DBC.
•
18
p
2 PI
P---PRBLIIIIIARY
PB--PRBLIIIIIARt BSriBArl
1/ IBSBRYBS liD 1101~111 BlSB PIGDRIS IICORPORltB lDJOSrftBJrS FOI DISCOiriiOiriBS ASSOCIATBD liTH r11 IBPLBftllrAriOI OF r11
ftOIBt'Ail COIYROL &CT liD Ot'HIB BBGULlrORI CH&IGBS TO IBSBRYB IBQOIRiftBit'S. ro ADJUST FOB DISCOiriiUiriBS DOl ro CI&IGIS II
BBSBRYI RIQUIRBBIITS 01 BBSBiflBLI IOIDIPOSII LIA8ILITIBS, TBB SUB OF SUCH RBQUIRID RIS&BYIS 181 SUBTRACriD PIOI TBI ACTUAL
SBRIBS. SIBILlRLI, II lDJUSriiG POl DISCOITIIUlfiBS II fBI BOIBI&BI B&SB, BIQUIIID CLI&BIIG BAL&ICBS liD lD.JUSt'lllrS ro
COBPBISAtB FOB FLOlr ALSO &81 SUBrRlCTBD FBOII TBB lCTU&L SBBIBS.
2/ tOTAL BBSBBY&s lOt &OJUSrBD FOB DISCOITIIOlriBS COISISrs Dr RISBBYB BALAICBS IIrB FIDIIlL RBSBBYI BAliS (IBICB BICLUDB
BBQUIRBD CLBABIJG J&LliCIS AID lDJUSrBBWIS ro COBPBIS&rB FOR FLOAT~ PLUS fAULT C&SB USID ro SATXSPt RBSIBfl RBQUIRBRIIrS.
SUCB f&UL! CASB COISIS!S OF &LL flULr CASH HILD DURIIG TBI LAGGID COBPUTAriOI PBRIOD 81 IISrirDriOIS BAYIIG IIQUIRID RBSIR . .
BlLliCBS l! PBDBRlL RISBBYB BAI&S PLUS TBK AIOUIT OF flULT C&SH BOUAL TO BBQUIRBD RISBBYIS DGRIJG 181 ft&IIriiAICI PBRIOD AT
lHS!ltU!IOJS HAYIIG 10 NEUOIBID BBSBBYB B&LAICES.
3/ BXTBIDBD CRBDir COISIStS OP BORROWING &r THE DISCOUNT HIIDOI UID.ER THE fERIIS AND COIDiriOJS BSrABLIS&BD FOB tHE IITIIDBD
CBBDir PBOGBlB TO BILP DBPOSI!OII IJS!IfUTIOJS DBlL liTH SUSTliJID LIQOIDITI PRESSURES. BIClUSB rBBRB IS lOT tBB SlftB IBID t'O
RBPAI SUCH BOBBOMIIG PIOBPrLI lS IHIIB IS liTH TBlDIIIOI&L SHOIT-!BBB lDJDSrftEJT CREDIT, THB BOJBJ IIAR&Br IBP&C! OF BirBIDBD
CBBDIT IS SiftiLAR TO fHlt OP IOIBORBOIBD RESIRYES.
4/ RESBRYB B&LAICIS liTH PBDIBlL RISBRYE Bli&S PLUS VAULT CASH USED TO Sl!ISPI RESBBJB REQUIRBftBit'S LBSS BBQUIRID RBSBBYBS.
5~
THB BOIETARI BlSB lOt lDJUS!ID POR DISCOJriJUiriiS COISIStS or ror&L RBSBRYES PLUS 8BQU18BD CLBABIIG BALAICBS AID ADJUSrBBirS
TO COBPBJSltE FOB FLOAt &r FIDIBAL IISBRYB Bli&S PLUS THE CUBRBJC! COftPOIBJT OF THE BORBI STOCI LBSS TBB AIOUIT or fAULt CASH
HOLDIIGS OP THRIFT IISTirUTIOIS tHAT IS IICLUDED II THB CDIRBICI COBPOIBIT OP TRB ROIEI StOC& PLUS, POB IJSrirDTIOIS JOT HlfiJG
RBQUlBED RESBBYE BlLliCBS, THE EXCESS OF CDBBBIT fAULT CASH OJBB THE ABOUIT APPLIID TO S&TISFI CURBBIT BBSBRYB BBQOIBBBBITS.
AFTBR THE IITBODUCTIOH OF CBB, CUBR.EJCI &MD VlULT CASH FlGORIS ARB RB&SURED OJIR t'HI ROJDAI-BIDIIG COBPOrltiOI PBBIOD.
PRIOR TO CBB, lLL COBPOIBITS OP tHE ftOIIrABI BlSB OTHER tHAI EXCESS BBSIBYBS ARB SEASOIALLT ADJUSrBD AS l IHOLB 1 BlrBBB THAI
Bl COftPONEJr, liD EXCESS RESERVES IS &DD.ED OM A lOT SEASOilLLl ADJUSTED BASIS. &PTIB CBB, THB SBASOJALLI &DJUSTBD SEBIIS
COISISTS OP SBASOJALLI ADJUSTED TOTAL RESERVES (WHICH INCLUDES BICBSS BBSEBYBS OJ A lOT SBASOilLLX ADJUSTED BASIS~ PLUS TUB
SEASONALLY ADJUSTED COBBBNCY CONPONEJT OF THE ROBEl STOCI PLUS THB REKAIIIIG ITBBS SEASOHALLI ADJUSTED AS l WHOLE.
NOTE: HISTORICAL DATA ARB AVAILABLE PRO! THE BANKINy SECTION, DIVISION OP RESEARCH AND srATlSTICS, BOlRD OP GOVERNORS OF THE
FEDERAL RESERVE SISTER, WASHINGTON, D.C. l0551
H.3 (502)
Table 2
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
No! adjusted for. changes in res_zrve requirement~}
Ave<ages ol daily ligures, not seasonally adjusted
'
Millions of dollars
Reserves of depository Institutions
Monetary
base'
Date
total
nonborrowed
Vault cash'
Reserve balances
with F.R. Banks' ------,.-u-s-edc--c-to--,--,--~---------l
total
required
required
reserves 5 '
surplus'
198b--NOY.
DEC.
56,199
59,560
55,647
58,713
55,4.l1
5!1,191
241,267
2lJ7,707
JlJ,80l
17,160
2.1,54]
24,071
21,595
22,199
1,9117
1,872
1987--JAI.
59,4>68
57,060
57,0b1
59,19]
58,339
58,784
58,838
58,361
59,813
61, 106
&1,231
59,088
56,50.3
56,514
58,400
51,303
58,008
58,166
57,714
58,873
60,163
60,o09
58,600
55,849
56,144>
58,56&
57,2b0
57, 59lJ
58,078
57,329
59,0.l0
59,977
60,105
21Jb,752
.l44,220
2114,978
249,241
2119,940
252,539
2511,671
254,3&0
255,4>91
258,076
261,791
36,5811
15,118
17,807
36,466
36,309
16,110
35,616
]6,685
.17,249
17,476
25,049
25,889
23,759
23,151
23,693
211,180
24,631
24,6lJ9
24,8&0
25,596
25,4.12
2.1,0811
2J,IU5
21,743
.0!1,587
21,87 J
2.l,lJ75
22.728
22,745
23, 128
2.1,857
23,757
1,965
2,454
2,016
1,767
1,820
1,905
1,903
1,904
1,7.12
1,739
1,67lJ
b1,817
o1,161
61,140
60,601
60,256
60,&65
l8,l5l
37,538
25,114
25,188
23,4b4
2.1,623
1, 710
1,565
0 1, 121
60,441
59,901
17,112
25,802
24,012
1, 790
f'BB.
liAR.
APR.
!Ill
JUNE
JULY
AUG.
SEP'f.
OCT.
IIIOY. PB
33,625
TIIO IIEEKS
Ell DUG
--------1987--IIOY.
DEC.
4
18 p
2 PE
262,519
P---PiiELIIUIARI
PE--PBELIBIIARY ESTIBATE.
1/ REFLECTS ACTUAL RBSERYE BBQUIBEIIEITS. IICLODlMG THOSE 01 NOIDEPOSIT LIABILITIES• IIITR 10 ADJUSTBBITS TO ILIIIIIATE
THE EFFECTS OF DISCOITIIUITIBS ASSOCIATBD liTH IBPLEBEITATION OF THE IIOIETABY COITROL ACT OR OTHER REGULATORY
CHAIGES TO RESERVE RBQUIREBEITS.
2/ CONSISTS OF TOTAL RESERVES PLUS BBQOIBBD CLEABIIG BALAICES AID ADJUSTREITS TO CORPEISlTE FOR FLOAT AT rBDBRAL RBSBRYE
llAUS PLUS THE CURRENCY COIIPOIEIT OF THE IIOIEY STOCK LESS THE UOOIT OF UOLT CASH HOLDIIIGS or' T8RIFl' IISr'ItO'fiOIS' THAT
IS IICLODED Ill THE CURBEICY COIIPOIBIT or THE RONEY STOCK PLUS, FOR INSTITOTIOIS lOT HAYIMG REQUIRED BBSBBYE BALAICBS, THE
EXCESS OF CURRENT VAULT CASH OYER THE AROUIT APPLIED TO SATISFY CORREIIT RESERVE BEQOIRERiiTS~ AFTBB THE INTRODO~IOI OP
CBB, CUBRBICY ARD YlULT CASH FIGURES ABE RBASUBED OYER THE ROIIDAY-BNDIIG COBPUTATION PERIOD.
l/ EXCLUDES REQUIRED CLEABIIG BALAICES AID ADJUSTBEITS TO COBPBISATE FOR FLOAT.
4/ DATES REFER TO THE RAINTENAICE PERIODS II WHICH THE VAULT CASH CAN BE USED TO SATISFY BBSEBYE BEQUIBBBBITS. OIIDBB
CONTEftPORANEOUS RESERVE BEQUIBEBENTS, IIAINTEIAMCE PERIODS END .30 DAlS AFTER THE LAGGED COftPOTATION PERIODS
IN IIHI~H THE BALAJCES ABE HELD.
5/ Ei.!UAL '10 ALL YAOLT CASH fiELD DURING THE LAGGk:D COIIPUTATION PERIOD Bl INSTITUTIONS HlYIIIG BB\iiJliBI\ ~S1$8Y'B fililtic.J{S
AT PEDEBIL RESBBYE BAlKS PLUS THE AftOUNT OP VAULT CASH EI.!UAL TO REQUIRED RESERVES DURING THJ ll .. ft'Bil~CE ~ERlOD ~To
INSTITUTIONS HAYING 10 REQUIRED RESBRYE BALANCES.
6/ TOTAL VAULT CASH AT IISTITUTIONS HAYING NO REi.!UIWED MESERVE BALANCES LESS THE AROUIT OP VAULT CASH EQUAL TO THEIR
BEi.!UIRED RESERVES DURING THE ftAlNTEKAN~E PE8I~D.
11 CONSISTS OP CARRYOVER ON~Y AT DEPOSITOkY IKSTITUTIUMS ftAlNTAINING BESERYES ON THE BASIS OF TIIO-WEEK IIAINTENANCE
PEBIOUS. REFLECTS EXCESS (•) 08 DEFICIT (-) d~SERV~S ELIGIBLE TO B~ CARRIED FORWARD INTO THE TWO-WEEK RESERVE
RAINTEIIIANCE PERIOD ENDING ON T~E DAT& SHOWN.
11
JU
H.3 (502)
Table 3
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adjusted for changes in reserve requirements'
Averages of daily figures, not seasonally adjusted
Millions of dollars
Date
total
Reserves of depository institutions
non borrowed
Monetary base
required
1986-!IOY.
DEC.
5 .. ,591
57,636
5J,ti40
5o,809
53,614
56,267
.237,491
24.J,6JO
1987--JAN.
FEB.
1118.
APB.
IUY
JUIE
.JUU
AUG.
SEPT.
OCT.
!lOY. PE
5B,731
5o,088
56,068
57,299
57,625
57,743
57,390
57,496
58,037
58,121
58,151
55,532
55,541
57,379
56,264
5&,849
57,071
56,743
56,556
57,094
57,496
57,663
54,877
55,152
57,544
56,221
5&,435
5&,983
56,358
56,703
56,909
57,192
243,422
.240,811
241,925
24o,066
..!46,831
249,28&
251, .. .24
..!51, .. 20
251,&03
58,593
58, 121
57,91b
57,561
57,032
57,625
254,274
257,154
57,962
57,2ti0
5&,740
.l57,520
58,312
253,286
256,916
TWO WEEKS
EliDING
-------------4
1987--NOY.
18 p
DEC.
·---~·--
2 PE
__ c.. _ _ _ _ _
---~--------------
------
----- ···- - - - - · -·
·-·-
·-
--~--
P---PBBLllfl!IAR:i
PE--PBELlftiNABI ESTIMATE.
11 FIGURES REFLECT &DJUST!E!ITS FOR DISCONTIIIUITI~S ASSOCIATED WITH THE I!PLERE!IT&TIOI OP THE MOIIETlBI CONTROL ACT
AND OTHER REGULATORY CHANGES TO RESERVE BEQUIR~MBIITS.
@FedFRASER