Full text of H.3 Aggregate Reserves of Depository Institutions and the Monetary Base : February 1, 1982

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL RESERVE statistical release
LIBRARY
FLii
H.3 (502)

;.*»!

For Immediate Release

AGGREGATE RESERVES OF DEPOSITOFVYm^WlMoMS AND MONETARY BASE
Adjusted for changes in reserve requirements^
f\U'
r>*
Averages of daily figures
v^r
* "J-«I
Reserves of depository institutions
total 2
non borrowed
required
Period
millions of dollars
seasonally adjusted

-i - l
<
Monetary base3
billions of dollars

•.f^URE^

FEBRUARY 1, 1982

Reserves of depository institutions
total 2
required
non borrowed
millions of dollars
not seasonally adjusted

Monetary base3
billions of dollars

1980—DEC.

39,187

37,497

38,719

153.2

39,657

37,966

39,189

161.0

1981—JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEPIOCT.
NOV.
DEC.

39,182
38,943
39,070
39,265
39,542
39,351
39,609
39,88 3
40,615
40,266
40,264
40,803

37,787
37,645
38,070
37,928
37,314
37,314
37,930
38,463
39,158
39,086
39,601
40,166

38,872
38,672
38,821
39,138
39,367
39,102
39,359
39,681
40,290
40,077
40,005
40,494

158.7
159.0
159-5
160.5
161.7
161.6
162.7
163.4
164.0
163.9
164.7
166.0

40,601
38,319
38,590
39,231
39,228
3.8,964
39,546
39,389
39,997
40,130
40,246
41,247

39,207
37,516
37,590
37,894
37,000
36,927
37,867
37,970
38,541
38,949
39,583
40,611

40,291
38,544
38,342
39,104
39,053
38,715
39,296
39,187
39,673
39,941
39,987
40,939

159.6
157.4
157.8
159.9
160.8
161.2
163.3
163.2
163.3
163.8
165.6
169.0

40,667
40,090
41,046
40,972
41,089

40,350
39,472
40,648
40,351
40,206

40,358
39,886
40,926
40,597
40,617

165.2
164.7
166.0
166.4
167.3

40,852
40,039
41,509
41,480
41,920

40,535
39,421
41,111
40,859
41,037

40,543
39,835
41,389
41,105
41,448

166.6
167.4
168.8
169.9
170.4

41,167
40,740
41,711

39,713
39,740
40,761

40,423
40,462
41,315

167.5
166.9
168.1

42,319
41,877
44,149

40,865
40,877
43,199

41,575
41,599
43,753

170.3
168.3
169-7

WEEK E N D I N G :
1^31—DEC.

2
9
16
23
. 30

1982—JAN.

6 P
13 P
20 P

? - PRELIMINARY
1/ RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITORY
INSTITUTIONS. DISCONTINUITIES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT, THE INCLUSION
OF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES IN REGULATION D HAVE BEEN REMOVED. BEGINNING WITH THE
WEEK ENDED DECEMBER 23, 1981, RESERVES AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF RESERVABLE LIABILITIES TO
INTERNATIONAL BANKING FACILITIES (IBFS). ON THE BASIS OF REPORTS OF LIABILITIES TRANSFERRED TO IBFS BY U.S.
COMMERCIAL BANKS AND U.S. AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIMATED THAT REQUIRED RESERVES WERE
LOWERED ON AVERAGE BY $10-20 MILLION IN DECEMBER AND THE CUMULATIVE REDUCTION THROUGH THE WEEK OF JANUARY 2 7
WAS $40 TO 60 MILLION.
2/ RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT
INSTITUTIONS WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS.
3/ INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS IN THE CURRENT WEEK PLUS
VAULT CASH HELD TWO WEEKS EARLIER USED TO SATISFY RESERVE REQUIREMENTS AT ALL DEPOSITORY INSTITUTIONS PLUS
CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND
SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS.
NOTE: HISTORICAL DATA ARE AVAILABLE FROM THE BANKING SECTION, DIVISION OF RESEARCH AND STATISTICS, BOARD OF
GOVERNORS OF THE FEDERAL RESERVE SYSTEM, WASHINGTON, D.C. 20551.




H.3
Table 2

AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS
Not adjusted for changes in reserve requirements
Average of daily figures, not seasonally adjusted
Reserves of depository institutions 1
Period

total 2

nonborrowed

required

Monetary
base3

millions of dollars

1980 — D E C .

40,614

38,924

40,146

162.4

1981—JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.

41,535
39,754
39,693
40,291
40,433
4 0 , 3 53
40,917
40,933
40,501
40,622
40,863
41,909

40,141
38,450
38,694
38,953
38,205
38,316
39,238
39,514
39,045
39,442
40,200
41,273

41,226
39,478
39,445
40,164
40,258
40,104
40,667
40,731
40,177
40,433
40,604
41,601

161.0
158.8
159.5
161.6
162.6
163.3
165.4
165.4
163.9
164.3
166.3
169.8

WEEK E N D I N G :

1/

2/
3/

1981—DEC.

2
9
16
23
30

41,542
40,767
42,237
42,096
42,503

41,225
40,149
41,839
41,475
41,6,20

41,233
40,563
42,117
41,721
42,031

167.4
168.2
169.7
170,7
171.1

1982—JAN.

6 P
13 P
20 P

42,889
42,453
44,678

41,435
41,453
43,728

42,145
42,175
44,282

171.0
169.0
170.3

RESERVES OF DEPOSITORY INSTITUTIONS SERIES REFLECT ACTUAL RESERVE REQUIREMENT PERCENTAGES WITH NO ADJUSTMENTS TO ELIMINATE THE EFFECT OF CHANGES IN REGULATION D, INCLUDING CHANGES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT. INCLUDES REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS
AND, BEGINNING NOVEMBER 13, 1980, OTHER DEPOSITORY INSTITUTIONS. UNDER THE TRANSITIONAL PHASE-IN PROGRAM
OF THE MONETARY CONTROL ACT OF 1980, THE NET CHANGES IN REQUIRED RESERVES OF DEPOSITORY INSTITUTIONS HAVE
BEEN AS FOLLOWS; EFFECTIVE NOVEMBER 13, 1980, A REDUCTION OF $2.8 BILLION; FEBRUARY 12, 1981, AN INCREASE
OF $245 MILLION; MARCH 12, 1981, AN INCREASE OF $75 MILLION; MAY 14, 1981, AN INCREASE OF $245 MILLIONAUGUST U , 1981, AN INCREASE OF $245 MILLION; SEPTEMBER 3, 1981, A REDUCTION OF $1.3 BILLION; AND NOVEMBER
19, 1981, AN INCREASE OF $220 MILLION. BEGINNING WITH THE WEEK ENDED DECEMBER 23, 1981, RESERVES AGGREGATES
HAVE BEEN REDUCED BY SHIFTS OF RESERVABLE LIABILITIES TO INTERNATIONAL BANKING FACILITIES (IBFS). ON THE BASIS
OF REPORTS OF LIABILITIES TRANSFERRED TO IBFS BY U.S. COMMERCIAL BANKS AND U.S. AGENCIES AND BRANCHES OF
FOREIGN BANKS, IT IS ESTIMATED THAT REQUIRED RESERVES WERE LOWERED ON AVERAGE BY $60-90 MILLION IN DECEMBER AND
THE CUMULATIVE REDUCTION THROUGH THE WEEK OF JANUARY 21 WAS $180 TO 220 MILLION, MOSTLY REFLECTING A REDUCTION
IN RESERVABLE EUROCURRENCY TRANSACTIONS.
RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT
INSTITUTIONS WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS
INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS IN THE CURRENT WEEK PLUS*
VAULT CASH HELD TWO WEEKS EARLIER USED TO SATISFY RESERVE REQUIREMENTS AT ALL DEPOSITORY INSTITUTIONS PLUS
CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND
SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS.