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FEDERAL RESERVE statistical release
For - . 4:30 EMiem Time
H.3t!Git
T. . . 1
AGGREGArt RESEIIVIS OF DEPOSITORY INSTITUTIONS AND THE IIONETMY lASE
....
--... .............In-...,.._
......, .................
.......
Adjueled ..........
lllllllone of .....
......
Dille
....._.,....,.,
••• .......... __.
.........d .....
........
.1,148
975
273,1113
.273,6.i1
2,1J.J8
2,lU4
'I.U
·q~~74
.)9,7112
59,907
oO,OJl
1,128
1,615
611
274,0.76
274,69¥
27-.1o7
2,..J3.1
J,2JJ
.it,!*.l
285
58,748
59.l8:l
59.487
60,004
59,1194
60,108
oO,.lJo
oO,!>U.l
60,.l15
60,1638
oO,S.J2
5
19
fo0,.901
61,049
58,¥63
511,8415
00,167
oO,.:i26
59,753
2
16
30 p
60,870
61,521
••• 650
58,517
58,288
58,088
00,16'1&
lt1 1 1U•
59,951
I& I
JUIB
JUJ.:r
AUG.
san.
p
l.l6
2,1161
58,376
59,171
58,009
57,::180
57,787
57,555
57,798
57,6419
58,156
58,&57
58,210
&Pa.
_..,
260.7.Z1
26l,OU
:163,315
265,809
:.t66,9l'l
268.309
l70.6.2o
271.l00
:n.a.•4•
.273, 731
27IJ,IJII7
59,1J58
59,573
59,760
60,l71J
oO,J45
60,637
0 1,.lJ8
61,1)!10
o0,995
oo,t5•
61,071
....
19811--Ju.
.PBB.
...
of ~ lnltllutlona
flwllhe ............. NSA
1,295
.1,133
929
859
1,040
888
1.007
953
972
1,06.2
1,116
sa.1~
sa,•2a
........., .....
256,93¥
257.9411
sa,8:a
59.053
-
.....
923
1,029
58,428
57,9411
1987--aor.
DB C.
OCT.
IOfo
M&t
511,129
!>7,693
sa. "3
~.41JO
58,832
59,515
59.J25
.:i9,750
o0,231
(>0,137
60,0.24
!>9,894
59,!155
o~!>
111.
u
..l,.l¥1
$9
75
119
14110
2416
J11
J76
1Jl3
.l,IU!I
lilt
~.29'J
33<i
185
1.011.6
.Wo
1, 75~
.l.99.l
.l,!>78
.l,UIIJ
J,II•UI
.....-cNdiJ:
394
168J
312
lOS
1,478
.l,.~lf
~.101
l,:t541
l.,:tJ8
~.tt5.J
2,059
1,781
:.1,322
TIIO IIBIIItS
II DUG
-----1988-0CTo
101.
----
337
180
171
1, 704
1,.S1
1,.931
.t,.838
1,.863
-·
P---PIILIAIIABI
1'£--P~BII&BI &sTI8&T•
11' BBSBBYBS AID BOIBTABI BASB .P.IGUB.iS :IICORPOB&r.l AWU!it'8Bir5 .POl DUC:OI't.li.U:I~:IBS &SSOCJ:A~IUI IIITII %11JI Illl'LBIIBI%AT~OI IW NB
IIOIJ:T&BlC COITIOJ. ACT AID OTHBR RBGUJ.ATOill CII&IGJIS TO BISJ:IU .llBQIIUBBIITS. TO 4DJUS~ .POB U~SC08T~IIU1'~BS DUJ: TO CHAato&S II
IBSBBYJI kBQU:IiBIIBITS 01 BBSBkYABLB IOIUBPOS~T ~IABLLITIBS• Til& S.UB O.P SUCH IBQUZa&D IBSBBfiS All SUB~ACTBD '808 TaB ACTUAL
SBB:IIS. Sl8IJ.&aLl, II Al).JUSIIIG FOI D:ISCOITIIU~Tl&S ~~ 1'111 80111'411 B&SB, IIQU:IBJ:8 CL&AB:IIG ~&l~.iS AID ADJUS1'8~S 1'0
COIIPIISATB .POl FLOAT ALSO .LIB SUBTBACTBD 1'&08 TJI& ACTUAL SUZBS. .
2/ TOTAL RESBBfBS 101' lDJUS'tiD 1'08 DISCOITIIUIILaS ~uas~S1'S OP BaSBifB BAJ.AaciS llrlf PJ:DIB&J. B&sBBV~ BA..S (IIMICII IXCJ.UDB
aiUUIIID CL&AKLIG ~AJ.AICBS AID 4DJUS1'11EITS 1'0 ~011~&15A1'E POB FLO&%) PLUS fAULT CASH DSBD TO SAZIS¥lC BaSBMYB .llBQU:IB&IBM1'!i.
SUCK VAULT CASH COISISTS OP ALL fAULT CASH HBLD DUMIIG TIIB LAGGJ!8 C08PUT&TIOH PERIOD BJ 11St'~1'UTIOI!i MAY~IG BBQUIIBD II&SBRVB
BALAICBS IT I'EDB.IliL BESEIIYB BAllS PLUS THB AIIOUIT OP fAULT CASH BQUAL TO .llBQULBED IBSIBY~ UU&IIG THB 8Alii£B&IICB PB.Il:IOu lT
:IIST:ITUflOHS IIAYIIG 10 BBQUIRED MESBMVL BILAI~BS.
3/ BITBIDED C8BD:I1' ~OiiSlSTS OP tiOikOII:IIG AT THE DISCOUIT •IIOOW UID~.Il THB lEiSS A!D COIDITlOIS ~S1'ABLlSti&b FOk THE ~TaiDKU
CREDIT PBOGRAft TO HELP DBPOSITORl IHST~TUT:IOIS DBA~ VITH SUSTA:IIBD L~QUID:ITI PR.iSSUABSo HBCAQSE THEBB IS HOT THE SA&B 1&1. TO
RBPAI SU~H BOBBOiliG ~BOBPT~Y AS THEBE lS HITH TBAuiX:IOMAL SMOMT~BBH ADJUST~EIT C.llEDI1', TH. 401~1 ftAMKBr IIIPA~~ 01 Bl1'&MDED
CBIDIT la S18:ILA.Il TO TKIT OP BONbOkBOW~O RBSIMiBS.
411' BESEMYK ~ALAICBS VITB FIDE&AL kE~ERVE dAIK!i VLUS fAULT CASH US£0 TO SAT1SFI B.iSERfE REQU~BBII~TS L~S BB~UIBED WESM&~S.
5/ THE 801ETARY BASE lOT ADJUST£~ FUH D:IS~OBTIHUITIES ~OMSISTS OF TOT~ .ESA&VIS PLUS BBQUlBEU CL&I•~Iu UALAICBS AID ADJUSTHEITS
TO COBPENSATE lOB FLOAT AT FEDERAL .llE~t:kVE BA~AS PLUS THE CUBMBHCl COBPOIEIT OF THB 801~! ST~~ PLUS, lOB 115%ITUTIUHS lOT
HIYII6 R~~U:IaBD RESEaYE BlLABC~, TK~ ~lCESS u¥ CUBRBIT YAU~T CASH Ofli THB AHQUHT APPLi~ TO SATlSFl CUBRIIT BBSKBVB
RB~UlBEB~HTS.
&PTEft THE 1HTRODUCTION OF CCB, CUBRENCI AID YAULT CASH FlGUiBS ARE ftBASDRIO OJKB THB ftOIDAI-IID~IG
COBPUTA'l:IOI PBRIOD. TBB SEASliUL~l ADJUSTJ>O IIONt:TARX JIASE CUISlSTS 01' SJIASON&LLI ADJUS:UD :.tOTAL RIISBBVE (IIH.ICH LIICJ.UD&S
~XCESS Bt:SERYIS OH A MOT S~ASOHALLI A~JUSTED uASl!i)
PLUS TH~ SEASOIALLI ADJUSTED CURIEI~I ~04~01~1T Qi T~L IIOHEI S%0~&
PLUS T~ Hl>ftAIIING IT~IIS SElSONALLI AUJUSTBD AS A WdOLE.
lOTh: HlSTOHICAL DATA ARE AYAILABL~ fROB TdE 110111 ANU HES~NV'S PNOJICTlOIS S~CTIOH, uiYlSION Oi IIONET&At AtlAihS, BOABD OF
GOYEQHORS or THE FEDERAL h~SENVE ~lST~a, wASHING~OM, D.C • .l0S51
H.3 (502)
Table 2
~R.ECMn~ RI;$~8_V~_()_F_DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
~~ua~llclfschangea In requlremen~
A-.ge8 of lililfr Hgurea;nol seasonally adjust
Mllllona of doiiUa
·
- ·• · · - - ... ·
--
Date
wlthf.R.
2J,7~.l
1.6~9
2'1,4'19
1,70&
.J.S,I.!Jo.5
1,7t>4
2 0 28J
1,877
1,564
1. 700.
278,576
31>,911
J7, 213
J6,421
J7,015
26,9111
28,119
25,9J.to
.25,21)1)
25,87.!
25,717
26,4/11
26,8'15
26,Ub
27,1!11>
26,711o
25,398
1, 715
1,8161
1, 786
1, 70~
1,348
1987-101.
DIIC.
t>1,20!>
1>2,1.23
t>0,!>80
1>1,3'16
t.u,.t82
1>1,0!1'1
2tol,t>74
2t>t>,11>1
1988-JAI.
l'BB.
liAR.
A£'1.
IIAI
JUIB
JULY
AUG.
62,640
t>0,047
1>0,076
b2,064
60,t>81
«>1,991
t>2,75b
61,558
59,1>50
58,.!24
59,071
~a. 103
58,1108
(> 1,96~
b2,1~J
58,724
59, J 111
.S9,blb
1>1,345
5.t,91'1
59,1'17
1>1,205
!>'J,blll
bi,10J
t>1,714'J
b1,012
1>1,181
2t>5,7t19
.lt>2,!>98
2bJ,979
2bll, 127
..! ... 11.1199
272,1>54
27!>, :>91
21!'>, OJJ
2 7<~, o74
60,8~J
~1!'>,175
59,~52
o1,296
s~n.
oc~.
101.
61,915
62,413
p
~9,316
37,4~3
37,613
37,485
3'1,:.111
36.02 7
38,~9
JI>,!>O'J
33,907
J7.~92
25,431
26 0 t:.5
25, 831>
211,U'I9
.2J,t>.Jb
.l4, 114
;.!4,084
.o!4, 7o.J
.:~.u.s~~o
24,940
;.!5,4!14
I, 6.l.t
IBBitS
BIDXIG
~riO
--------1988--ocr.
s
61,590
62,484
59, 152
60,280
1>0,411.2
1>1,509
27J,b75
277,341
36,527
36,618
2b,9:.!4
27,61.l
2S,I).t>J
2:>,811t>
1,11t>1
1,806
41
ll.l
2
61,3117
63,172
&1,&00
.S9,0JS
59,939
59,2J8
c;o,:.u;o
b1,5!i1
61,184
..17'1,818
279,;1)9
278,J5t
J6, 078
38,1119
36,014
26,825
26,221
27,2511
.l!>,JO!I
2S 0 U2J
25.787
1,.510
1.199
1,47.J
221
19
IIOY.
16
30
p
P--l'll!L:tll:tiABI
PB--PIIILIII:tiAif BS'fiiiA'fB.
1/ BBl'LBCTS &CTUAL BESBBYB BBQOIB~IIBHTS, lHCLUDIIG 'fHOSB 01 NOIDiPOSIT LlABILIT~~S, MITB 10 A~USTII~ITS ~ &LIIIIIATB
THE BFF~CTS OF DISCOIT:tiUITIBS &SSOCI&TED HlTti liiPLBIIBITATlOI ar THE IIOI&r&af COITBO~ ACT OB OTti~ RiGULATOil
CBAIGBS TO IBSEIIE RBQOIIBBBI'fS.
2/ COISISTS OF 'fO'fAL BBSEBYBS PLUS REQUIRED CLBABlR~ BALAICBS AID A~USTJijJSS ro COKPEISATE FOB ILOAX AT IEDBB&L IBSB&YB
BAIXS PLUS TBB CUBBBICI COIIPOIJ>U 01' THE 110181 STOCK LBSS THE AIIQOft Of -UOLT USII IIOLD:tliiGS 01 'fHBil'T IISUTUTIOJIS THAT
IS IICLUDBD 11 TBE CU&BBICI COIIPOIEIT OP TBB IIUIBI STOCI PLUS, fOB liSTITU~IO~S NOT B&YliG BHQUIHED BESBBJB B&LAICB$, SHE
BXCBSS OF CUIBBI~ YAULT CASH OYEB THE &BOUlT APPLIED TO SATISl'f COBIEIT BESBBVE BEQOIBEII~ItS. ArT~ rHE IITBODUCTIOJ Of
CBK, CUBBBICI &ID fAULT CASH FIGURES &IE IIE&SUBED OVER THE IIOHDAI-EIDIHG COBPUTATlOJ P&klUO.
3/ EXCLUDES BEQUIBBD CLBABIIG BALAIICES AID &DJUSTIIIIITS ro 'OIIPBIISATI lOB FLOAT.
4/ DATES REFER TO THE IIAIITBIAICE PERIODS II MBICB THE VAULT CASH CAB BE USBD TO SAT:tSfl BBS~BV~ ~EUUlBAKEBT~. UHDEI
COITEBPOBAIIBOOS BBSBBYB BBQUIRAIIEJTS, ftAIIT~IAMC~ PE~IODS EID JO DAYS Aft&K 'rUE L&G~BD CUK~UT~T~OI i~!U»S
II WB:tCH THB 8AL&ICBS ABB HBLD.
S/ EQUAL TO ALL VAULT CASH BBLD DURIN~ THE LAGGED COIIPUTATIOI ~EulOD BY IISTI~UTIORS HAVIIG •EwU~kKU W~~~YB 8AL&HCES
&'f tBDBBAL RBSERYE BAlKS PLUS THE AftOUHT OF VAULT C&SH &QUAL TO BB~:t&BD WESBBVBS DUBIIG THB II&INTBIAICE PE~IUD AT
IHS'U~lft'.IOHS IIAJIIIG 110 BB~UlliBD lii!SBU ,r; B&LUCES.
6/ TOTAL YAOLT CASB AT :tiSTITDriOIS HAVIIG NO BBuU.IR&D BBSEiiVB BALAICBS LESS THE AftOUIT Of VAULT CASH BUU&L %0 fHEik
RBUUIIBD BESBHYBS DOB:tiG THE IIAliTEIAICB PEilOD.
11 COISISTS OF CABBYOJBB OILY AT DE~OS11'0BJ l~S'flTUTlOIS ftAliTAIIl¥& RESBBVBS ON THE BASIS OF TwO-WEEK IIAIITBIAM'£
l'EBIODS. RBPLBCTS EXCESS (•) OR DEFICIT {-) &BSBII.US BLlGlaLE rQ BE CABBlEII l!'O.Rll&i!D 111'0 ·ru; Uo-WE&I. BBSE.tVE
ftAII~IIABCE PBBIOD BID:tiG 01 THE D&TB SHOIH.
82
J10
H.3 (502)
Table 3
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adjusted for changes in reserve requirements 1
Averages of daily figures, not seasonally adjusted
Millions of dollars
Date
total
Reserves of depository institutions
nonborrowed
Monetary base
required
H87-HOY.
DEC.
551,136
60,023
58,511
59,245
58,21,3
58,991.1
.l57,651
26;L,. 0,53
1988--JAR.
t'EB.
!lAB.
APR.
61,199
58,663
58,851
60,947
59,454
60,679
61,467
60,591
60,654
60,541
61,171
60,117
58,267
51,099
57,954
264t,0.06
259,0.1Q
57,596
58,027
57,350
57,815
58,241
58,310
59,901.1
57,5JQ.
51,922
ta0,088
58,414
59,791
60,460
59,61$3
59, IH9
60,054
bO ,041
o1,199
57 ,oOJ
58,995
58,893
60,21.4
,l]ij,10!i
59,981
61,98J
60,529
57,628
58,750
57,91)7
58,.853
60,369
59,912
216,242
27.:.,.1o5
IllY
JOKE
JOLI
AUG.
SEP~.
oc~.
II OJ. p
56,816
~9,6.J8
260,111.
263,001
26i,.132
.269, ..1f2
l72,.~11
I
;1.71 ,.:J.J ...
271,567
212.1642
275,.~16
XWO 8Et:KS
.KHDIHG
-----------1988-0CT.
5
19
NOV.
2
1o
JO p
210,.28~
.t 11,3.951
P--- PB &. 1ft Ill ABI
PB--PRELiftiiABY ESXIftl~E.
1/ P.IGUU~ BEPLBCT ADJU.STI!EIJTS PO'& DISCOIITlfU.I!rlBS ASSOC.UTBD iUB 2:8~ IftPJ..JUIEITA:l'.!Oti OP
AID OfHBB REGULATOR! CHAIGBS !rO RESERVE BBQOIB.Kl!EBTS.
'fltE
110»-t!rA.IU COlt!rAlO.L ACT
@FedFRASER