The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
For ....... Ill 4:30 . , _ , Time H.3., Teble1 DBCBRBBB AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS ~tm-'rfiAIIBBftMIIASE 31r 198l Adjuetecllof cllengH In ,.qui-•' A....- of ally ltg-, - t t y ectJuatect unten noted OIMrwiM Mllltona of doll- total Date .....,_ of depository lnatltullona ,.qulrect nonborrowed plus nonbomlwed extended credlt1 excen Monetary .,.... NSA• Borrowings of depoaltory lnatltutlona from the Federal Ae-, NSA Maaonal total extended credit' 1986--IOY. DB C. 54,489 56,1&6 53,737 55,340 54,155 55,64J 5.J,511 54,798 978 1,369 236,875 239,513 752 &:l1 10 3i 1118 303 1987-J.lL l'BB. 56,884 56,873 56,852 57,954 58,352 57,706 57,602 57,876 57,825 58,496 57,987 56,304 56,311 56,325 56,961 57,311 56,930 56,929 57,229 56,885 57,553 57,362 !)6, 5..!9 56,600 5&,589 57,231 57,604 51,203 57, t:l4 57,360 57,294 58,003 57,756 55,816 55,662 55,936 57,127 57,273 511,516 56,841 56,844 57,0J2 57,3&8 !)7,01>4 1, oc.a 1,211 916 IU1 1,079 1,190 761 1,032 193 1,128 923 2112,431 243,970 2114,563 248,372 248,481 2119,457 250,198 251,852 254,352 256,079 580 55& 521 993 1,035 612 647 940 9113 -.25 34 71 91 120 196 259 283 279 231 189 126 ;l8J 2611 210 2i8 213 194 132 1&09 lllt9 l91t 59,575 57,1155 58,898 57,094 59,4!88 57,428 58,014 57,162 1,561 492 256,743 255,702 671 561 169 125 390 334 57,846 57,704 57,169 57,163 56,890 56,1199 57,64!8 57,543 56,815 56,633 56,459 56,250 1,213 1,2115 94!0 256,298 256,421 257,1&..! 68l 815 671 114 83 102 653 316 ll.lL .ll'L ur JUJB .lULl AUG. Sift. ocr. JOY. 246,~11 11& ~5 TIO IBUS &JD1JG --------1987-IOf. II 18 DB C. 2 16 p JO P.B ~5 P---PRBLlftliABJ PB--PBELI~I.lRJ ESI'IBAI'B 1/ BMSEBI&S AID BOIBI'ARJ BASE FIGURES IICORPOBAI'B ADJUSI'REII'S FOR DISCOitiiOITIES ASSOCIATED III'H I'HE IBPJ.EBEITAI'IOI OP I'BB ROIETARJ COITBOL ACT .liD OTHER REGULATORY CHAIG~S TO RBSBRYE BBQUIBEBEITS. TO ADJUST FOR DISCOITIIUII'IES DUB TO CHAIGBS II RESERVE REQUIREREHI'S ON RBSERYABLE IOIDBPOSit LIABILITIES, THE SUR OF SUCH REQUIRED RESERVES ABE SUBTBACI'BD FROB TBE ACI'U.lL SERIES. Sl81LARLJ, II ADJUSI'IIG FOR DISCOITIIUITIES II THE BOIET.lif BASE, REQUIRED CLE.lBIIG BALAICES ARD ADJUSTRBITS TO COBPEIS.TE FOB FLOAT ALSO ABE SUBTRACTED FROB THE ACTUAL SERIES. 2/ TOTAL BESERfBS JOT AD.IUSTBD POB DISCOITIIUITIES COJSISTS OF BESEBYE BALAICES WITH FEDERAL BESBRJB BAlKS (WHICH EXCLUDE BK~UJBBO CLEARIKG BALAICBS AKD ADJOSTBBNTS TO COBPERSATE FOB FLOAT) PLUS fAULT CASH USED TO SATISFt B~SBBYE REQUIBBftBITS. SUCH VAULT CASH CONSISTS OF ALL VAULT CASH HELD DURING THE LAGGED COMPUTATION PERIOD BJ IISTITUTIOKS HAVliG BBUUlB~D BBSEBYE BALAICES AT FEDERAL RESEBYB BARKS PLUS THE ABOUIT OF fAULt CASH EUUAL TO REQUIRED RESERVES DURING THE ftAIITBIAICB PERIOD AT INSTITUTIONS HAVIIG 10 BE~UlBED BESERYE BALANCES. l/ BXTBHDED CREDIT· COHSISTS OP BORROWING AT THE DISCOUNT WIKDOW DRDBB THE TBRBS AKD COIDITIOJS ESTABLISHED FOB THE EXTBIDBD CIBDIT PBOGBAB TO HELP DEPOSITORY IISTITUI'IOKS DEAL WITH SUSTAIMBD LIQUIDITY PRESSURES. BECAUSE THEBE IS lOT THE SABB IB&D 1'0 BBPAI SUCH BORROWING PBOBPTLT AS THEBE IS WITH TBADITIOKAL SHOBT-TEBB ADJUSTBBIT CREDIT, THE BONET MARKET IBPACT OP &II'EHDBD CB~DIT IS SIRILAB TO THAT OP HOHBOBaOWBD BBSEBV~S. 4/ BBSBBfE HALAICBS WITH FEDERAL RESERVE BARKS P~US VAULT CASH USED TO SATISFY RESBBYE REQUIBEftEITS LESS REQUIRED BES&BYES. 5/ THE BOIETABT BASE JOT ADJUSTED fOR DISCORTIIUlTIES CONSISTS OF TOTAL RESERVES PLUS REQUIRED CLEARING BlLAICES AND AD.IUSTBEITS TO COftPEISATE FOB FLOAT AT FEDERAL BESEBJE BANKS PLUS THE CUBRENCI COKPOIE8T OF THE ftOREJ STOCK LESS THE ABOUIT OF VAULT CASH HOLDIIGS OP THRIFT IISTITDTIONS THAT IS INCLUDED IK THE CUBREICJ COftPOIEIT OF THE KOREY STOCK PLUS, FOR IKSTITOTIOHS lOT HAYIIG REQUIRED BESEBYE BALAICES, THE EXCESS OF CURR~NT VAULT CASH OYER THE AftOUIT APPLIED TO SATlSII CUBBEIT BBSEBYE BEQUIBEBEITS. AFTER THE IITBODUCTION OF CBB, CURHENCJ AND VAU~T CASH FIGURES ARB ftEASUBED OVEB THE BOIDAJ-EIDING COftPUTATION PERIOD. PRIOR TO CBB, ALL COKPONENTS OF THE KONETABY uASE OTHER THAR EXCESS RESERVES ABE SEASORALL( ADJUSTED AS A WHOLE, BATHER THAI Bt COKPOIENT, AND EXCESS HBSEBVES IS ADDED ON A MOT SEASOHALLI ADJUSTED BASIS. AFTER CBR, THE SEASOHALLJ ADJUSTED SERIES COISlSTS OF SEASONALLl ADJUSTED TOTAL kESERV£5 (WHICH INCLUOES EXCESS RESERVES ON A lOT SEASOIALLJ ADJUSTED BASIS) PLUS THB SEASOKALLY ADJUSTED CUiRENLI COKPONENT OF THE MONEY STOLl PLUS THE BEftAIRlHG lTEKS SEASOHALLI ADJUSTED AS A YHOLE. IOTE: HISTOhiCAL DATA ARE AVAILABLE FROB THE BANKlNu SELTIOH, DIVISION Of RESEARCH AND STATISTICS, tiOARU Of GOVERNORS Of THE FEDE~AL RESEaVE SISTEK, WASHINGTON, D.C. ~0~51 H.3 (502) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Not adjusted for changes in reserve requirementSc 1 Averages of daiiy ligures, not seasonally adjusted Millions of dollars Monetary base~ Date total required reserves•! surplus total nonborrowed required 1986--NOY. DEC. 56,399 59,560 55,647 58,733 5.5,4.t1 58,191 2411,267 2417,707 34.,803 37,360 23,54fJ 24,071 .21.,59.5 22,199 1,9417 1,872 1987--JAI. PES. ItA&. .APR. II AI JUNE JULI AUG. SEPT. 59.,668 57,060 57,061 59,393 58,339 58,784 58,838 58.,Jb1 59,813 b 1,106 b 1,205 59,088 56,503 56,5341 58,4()0 57,303 58,008 58,166 .57,714 58,873 60,163 &0,580 58,6()0 55,8419 56, 11&6 sa, so& 51,260 57,594 58,078 57,329 59,020 59,977 o0,28.t 2416.,7541 24141,220 2414,978 249,2411 2419,9410 252,539 254,671 254,.lb0 255,691 256,016 261,b73 36,584 33,625 35,318 37.,807 36,1t66 36,309 36,110 .35,616 36,685 37,249 37,1l5l 25,0419 25,889 23,759 23.,353 23,693 24,380 24,631 24,6419 24,8oo 25,596 25,4J.;l 23.,084 23,41.35 21,7413 21,587 21,87.3 22,4175 22.,128 2.2,745 23,1l8 2.3,851 23,152 1,965 2,1t54 2,016 •• 767 1,820 1,905 1, 90.3 1,904 1,7341 1,739 1,680 18 61,811 61,147 61,140 60,587 &0,256 60,655 259,241 261,906 38,353 31,525 25,114 25,188 23, 1161& 23,6.t:J. 1, 710. 1,566 71 3113 2 16 p 30 PE 61,067 o.l.,134 &2,219 60,385 o1,J20 61,549 59,855 60,890 &1,300 262,212 26!», U6 267,947 37,069 38,302 37,119 25,802 25,312 26,960 23,999 23,833 25,100 1,803 1,5410 1,860. -5 142 283 OCT. IIIOY. TliO liBEKS BIDING --------1987--NOY. DEC. 4 P---PBELIIIINlRI PB--PRELI"IIlBI BSTiftATB. 1/ REPLBCTS ACTUAL RISBBYI BB~UIBEllENTS, INCLUDIIG THOSE 01 IOIDEPOSIT LIABILITIES, NITS 10 &DJUSTIIIITS ro BLISIIATB THE EFFECTS OF QISCOITIIUITIES ASSOCIATED WITH IaPLESENTATIOI OP THE llONBTABI COITROL lCT OB OTHER REGULATOBI CHANGES TO BESERYE REQUIBBIIENTS. 2/ COISISTS OF TOTAL BESBiiiBS PLUS REQUIRED CLBABIIG BlLUCES &liD ·ADJUSTIIEI'J:S TO COSPEISATB POR PLO&T lT PBD.IBAI. USBRJ.I BANKS PLUS THE CURRENCY COIIPOIIBIT OF THB SOlEI STOCK LESS THE AIIOUIT OP I£UL~ CASK HOLDIIGS OF THRIPT IISTITOTIOJS ~SAT IS INCLUDED II THE CURRBJCI COIIPONENT OF TH~ IIOIEI STOCK PLUS, FOR ~ISTITU~OIS lOT HAYING RB~UIRED RBSBRIB a&J.AICJS, TBB EXCESS OF CUBRBNT YlDLT CASH OYER THE AftOUIT APPL~BD TO SATISPI CORBEIT RESBRYE BEQUIBBllBNTS. APT&B THE IITBODUC~IOI OP CBB, CURRENCY AND YAULT CASH FIGURES ARE ftBASUBED OYER THE ftONDAI-EIDIMG COIIPUTATIOI PERIOD. 3/ EICLODE~ REQO~BED CLEABIJG BALANCES AND ADJUSTIIEITS TO COIIPBISATE POB FLOAT. 4/ DATI>S REFER TO THE IIUIITEiliiCB PERIOD~ IN IIHlCH THE VAULT CASH .CAM BE USED TO S&I'ISPI RES&BIB R.IQOIRBIIBI~S. UIDB8 COITEIIPOIIANEODS RESERVE BEQUIRESENTS, lfAINTEIIANCK PllRIQDS END JO. DAIS APTER THE LAGGID COifPUTATION PERIODS IN WHICH THE BALANCES ABE HELD. 5/ EQUAL TO ALL VAULT CASH HELD DURING THE LAGGED COllPUTATIOI PERIOD BY INSTITUTIONS HAYING REQUIRED BESBIIYB BlL&ICBS AT FEDERAL RESERVE BANKS PLDS THE AIIOUNT OF VAULT CASH EQUAL TO REQUIREV RESERVES DURINb THE llAINTENAIICB PERIOD AT liiSTil'UTIOIS HAYING 10 RE\,IUIRED RESEBYE BALANCES. 61 TOTAL YAULT CASH AT lNSTITUTlONS HAYING 10 RE\,IUlRED liESEBYE BALANCES LESS THE AftOONT OF VAULT CASH EQDAL TO THEIR RE~UIRED RESERVES DORING THE IIAINTENANCE PERIOD. 71 CONSI5'1'S OF CARIIrOVER ONLY AT Dl''I'OSlTO::Y J'ISTlTUTIONS IIAINTAINING BBSEI<YES ON THE BASIS Ul' T.IIO-IIEEK IIUNTENANCE PEfilOOS. REfLECT$ EXCESS (•) OR llt:Fll:IT (-) ~E5hiHf<; ELIGIBLE .TO BE CARRIED FORWARD IN'fO THE TWo-WEEK l<f;SEI<Vi IIAINTENANCE PERluD ENDING ON THE DA1E SHOWN. 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 uaaonally adjusted Millions of dollars Date total Reserves of depository institutions nonborrowed Monetary base required 231,491 1986--HOV. DEC. 54,591 57,636 53,840 56,809 53,614 5b,2b'1 .l4J 1 6JU 1987-JU. I'RB. auR. APR. 58,731 56,088 56,068 58,372 57,299 57,625 57,743 57,390 57,496 58,151 57,663 4!43,4~2 55,532 5t6,B11 55,541 55,152 57,544 56,221 56,435 5&,983 56,358 56,703 56,909 5'1,110 240,817 241,925 246,066 246,831 24!1,286 251,424 251,420 251,1)03 253,28b 256,820 57,032 57,615 254,274 257,1bJ 56,697 257,270 2b0,245 262,847 ur OCT. 5~,037 1101. 58,093 56,264 56,849 57,071 5b,74J 5b,55b 57,094 57,468 4 18 58.,593 58.,107 !>7.,916 57,547 J. 16 p 30 PE 57,910 58,972 57,.J.2.7 58,157 58,343 ---- JOIE JOL! lUG. sur. ~UO 51,31':1 WEEKS JUfD~IG --------1987-IOJ. DEC. 5~,013 57.,727 58,094 P---PiltEL.IalUBY PE--PBELI8li&Bf BSTlM&TE. 1/ PlGUBES B~I'LECT &DJOSTB~HTS I'OR liD otHEB BEGULlrOBY CHAIGjS TO DlSCOHTIHU1Tl~5 ASSOCIAT~D BESEBV~ BE~UldEft~HTS. WITH THE 18PLB8BNTATIOII 01' THE ftOHETABI CONTROL ACT