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FEDERAL RESERVE statistical release
H.3 (502)
For lmmediPI. Release
Tiolble 1
AGGREGATE RESERVES AND MEMBER BANK DEHJSITS
FEBUARY
Average of d any
"I f:1gures
Reserves o
tota12
Period
epos1tory inst1tut1ons
Monetary
base3
required
jnonborro-dl
total
millions('( do!!ars
~.1$01lally
2, 1981
Member bank deoos1ts sub ect to reserve requirements
U.l:i.
time and
private demand deposits
savings
other
t:>tal
government
net
demand
interbank
billions of dollars
I
I
I
I
I
adJusted
197~--&EC.
113,455
111,982
113,126
153.7
61111.5
1151.2
191.5
15.11
176.1
1. 8
1580--JUJ.
fEB.
113.11il2
113,350
113,669
1111,8116
1111,11116
113,959
112,781
110,7119
111,511
41,727
41,227
40,131
112,201
111,695
110,8116
112,391
11.3,1127
113,580
112,386
110,090
40,206
40,417
39, 168
38,4111
113,192
113,139
113,483
1111,6119
1111,268
113,756
112,1197
110,11117
41,262
41,521
4C,730
39,579
1511.7
155.6
156.6
157.9
158.5
158.9
15e. 8
158.2
159.5
160.8
l60.2
159.3
61111. 1
647.2
6119.1
655.11
656.8
658.0
658.5
667.8
678.2
684.7
694.3
701.8
1152.3
11511.4
1157.9
11611.2
1167.7
1167.9
116 7. 0
11711.2
482.0
486.7
1194.0
504.0
189.5
190.9
189.11
188.7
187.3
188.11
189.1
191.5
194.5
195.6
198.1
196.0
13.6
111.5
15.6
17.2
17. 1
16.9
16.6
111.11
15.9
16.5
17.4
17.5
176.0
176.11
113.9
171.5
170.2
171.5
112.5
177.1
178.6
179.1
180.7
178.4
2. 3
1. 9
1. 8
2.11
1. 8
1. 1
2.5
2. 1
1. 8
2.4
2.2
1. 9
p
p
p
p
p
40,569
.39,530
110,400
40,325
40,0811
38,427
37,744
38,895
38,676
38,457
39,688
39,268
39,898
39.516
39,5 E8
159.5
158.2
159.5
159.7
159.9
699.4
699.3
699.9
701.5
705.8
1198.6
500.2
502.5
506.5
509.1
198.5
197.1
195.7
193.4
194.5
16.1
18.2
17.0
17.2
18.0
182.11
178.9
178.6
176.2
176.5
2.3
2. 0
1. 8
1. 6
2-2
7 p
111 p
21 p
40,099
40,558
40,677
38,982
39,2](;
39,258
39,1135
39,817
40,170
159.6
159.9
160. 1
708.1
707.8
701.7
513.3
519.5
516.2
192.5
186.1
183.1
16.3
16.5
18.4
176.1
169.6
164.7
2.4
2.2
2.11
!IU.
APli.
!lAY
JUliE
JULY
AUG.
SEPT.
CCT. p
IICV. p
DEC. p
II UK
EJDIMG:
---------198G--DEC. 3
10
11
24
31
1981--JU.
not .-.ltv ldlu.-1
1979--DEC.
43,907
42,434
43,578.
156.2
652.7
452.1
198.6
16.0
182.6
2.0
19 8 o--Ju.
45,179
43,117
43,096
44,880
43,9E3
43,472
112,859
40,3 73
41,164
41,704
41,221
40,619
43,938
41,522
40,273
42.425
42.945
43,092
112,4611
39,715
39,852
40,394
39.,161
38,929
44,928
42,966
42,910
44,683
43, 7e5
43,268
112,515
40.0 71
40,908
41,498
40,723
40,067
155.9
1511.0
154.9
157.5
157.8
15e. 6
159.6
158.0
158.9
160.6
161.0
162.0
652.5
6113.9
648.0
657.7
651.5
656.9
658.2
662.5
675.6
6811.2
6911.6
710.3
1155.0
1155.8
46().6
46'1.7
467.7
467.11
1166. 0
471.8
1179.6
1185.7
493.0
505.0
195.4
186.2
185.5
190.11
182. 1
187.2
190.0
189.\J
193.9
196.4
199.6
203.2
14.5
14.3
15.2
16.8
16.2
16.6
16.8
14.2
15.8
16.5
18.0
18.2
180.9
112.0
170.11
173.6
165.9
170.6
173.2
174.8
178.1
179.8
181.6
185.0
2. 1
1.8
1. 9
2.6
1.1
2.2
1. 7
2. 1
2. 1
1. 9
2. 1
p
p
p
p
p
40,791
39,455
41,056
40,838
41,054
38,649
37,669
39,551
39,189
39,1127
39,910
39,193
40,554
4 0, 029
40,558
161.0
160.8
162.3
163.1
162.5
7011.0
703.4
7C7.7
710.6
720.0
1198.4
500.&
503.3
507.5
511.2
203.4
201.0
201.9
201.0
206.7
19.0
18.2
17.6
17.9
18.5
184.4
182.8
184.3
183.0
188.2
2. 1
1. 6
2.5
2. 1
2. 1
1 p
14 p
21 p
111,038
41,981
42,687
39,921
40,649
41,268
40,3 74
41,240
42,180
161.9
161.5
161.2
730.0
719.7
706.4
518.5
523. 1
511.8
209.4
1911.9
186.2
20.6
18.0
18.0
188.8
176.9
168.2
2.2
1.8
2.4
fEB.
!lAB.
APR.
!lAY
JUNE
JOI. y
AUG.
SEPT.
CCI. p
IIOV. p
DEC. p
!IIDIIIG:
-----------198G--CEC. 3
I
2. 3
II UK
10
11
211
31
1981--JAB.
I
See ,_,. side for expiMdorl of footno1a
H.J
Table 2
AGGREGATE RESERVES AND MONETARY BASE,
Adjusted for changes in reserve requiremenu 4
A verages o fd at!'i_
'I frtgU_res
Reserves of depositorv institutions
regjl;red
non borrowed
total 2
Period
millions of dollars
seasonally adjusted
1979--CEC.
31,3 88
35,916
198 D--JA N.
fEB.
!lAB.
APR.
IIAY
JUNE
JnY
lUG.
SEPT.
CCI. p
liCV. 5p
37,470
37,399
36,229
35,71111
311,653
35,061
36,1167
37,081
tEe.
37,~<17
37,516
31,1185
31,1161
37,570
38,050
38,725
38,8911
40,057
40,110
p
31,116
37,392
37,1114
37,5€3
31,991
38,1120
!billions of dullars
!billions of dollars
millions of dollars
not seasonall·1 adjusted
-
---
-- -
37,060
1116.7
3'1,800
36,328
37,219
37,188
31, 2q 1
37,319
37,307
37,257
37,286
37,7119
38,470
38,687
39,559
3'o,558
1117.8
1118.7
1119.6
1119.7
150.7
151.5
152.7
1511.6
155.8
157.1
158.6
159.3
39,0511
37,202
36,919
37,533
37,062
37,007
37,665
37,706
38,1101
38,876
40,056
40,598
37,813
35,5117
311,096
35,077
36,0113
36,628
37,270
37,0118
37,090
31,565
39,667
39,247
39,876
39,11911
39,567
159.11
158.2
15'1.5
159.6
159.9
40,770
39, "34
II 1, 035
110,817
II 1, 03~
39,11111
3 9, 796
110,1119
159.6
159.9
160.1
111,011
41,960
112,666
-1-- -
Mot:~etarv b&;i\ 3
1 Moneta(\' base! 3 - Reserve~ of cjeRQsttort institutions
1
~2
I nonbo_rrowed
requtre<'
·-
-
37,1172
11;9.2
38,803
36, 99 1
36,733
31,33 6
36,884
36,8011
37,361
37,1105
38,1116
38,669
39,55 8
110,0115
1118. ·~
1117.1
1117.8
149.3
150.':1
151.2
153.5
1511.5
155.3
156.8
159.5
162.0
38,628
37,6118
39,530
39,168
39,406
39,,889
39,112
161.0
160.8
162.2
163.0
162.5
39,900
110,628
111,247
110,353
31,991
38,908
li!Ell EliDIJiG:
-----------1980--J:Ec.
3 p
10 p
11 p
p
31 p
~4
1981--Jlli.
7 p
14 p
~1
r
40,548
39,509
110,378
110,303
110,063
38,406
37,723
40,078
110,537
110,656
38,961
39,205
38,813
38,654
38,436
39,231
~~,53
3
40,008
40,537
41,219
42,159
161.9
161.5
161.2
F - FR.I!LIIIIUliY
1/
2/
3/
II/
5/
RESERVES OF DEPOSITORY INSTITUTIONS SERlE~ REFLEC! ACTOlL RESERVE REQUIREIIENT PERCEN!lGES WITH NO ADJOSTIIENT !0 ELIIIINlT! TBE EFFECT OF CHANGES IN REGULATIONS D AND K. PRIOR TO NOVE!IBER 13, 1980, !HE DATE OF '-~
PLE!IEHTl!ICN OF THE MONETARY CO~!ROL ACT, ONLY THE RESERVES OF CO!I!I&RCIAL DANKS THAT WERE !IEIIBERS OF T' E
FEDE~AL RESERVE S!S!E!I WERE INCLUDED IN THE SERIES.
SINCE THAT ~ATE THE SERIES INCLUDE THE RESERVES CF ~LL
DEPCS!TCRY INS!ITOTIONS. IN CONJUNCTION WITH THE IftPLE!IENTATION OF'THE ACT, REQOIBEC RESERVES OP MEIIHER SANKS
IiEBE REtUCED ABOUT $11.3 BILLION AND REQUIRED RESERVES OF OTHER DEPOSITORY INSTITUTIONS liERB INCREAZED ABOUT
$1.11 HI~LION. EffECTIVE OCTOBER 11, 1979, AN 8 PERCENTAGE POINT !IARGINAL RESERVE RECUIRE~ENT WAS l~PCSEO 08
"!IAHAGBC LIABILITIES". THIS ACTION RAISED REQUIBED RESERVES ABJUT $320 !IILLION. EFFECTIVE MARCH 12, 19fJ,
THE 8 PERCENTAGE POINT !IARGINAL RESERVE REQUIRE!IENT liAS liAISED TO 10 PERCENTAGE POIII'IS.
IN ADDITION THE
BASE UPCN WHICH THE MARGINAL RESERVE BEQUIBE!IENT WAS CALCULABD liAS REDUCED. THIS AC!IvN INCREASED H;JUI!HD
RESERVES ABOUT $1.7 BilLION IN 'IHE WEEK tNDING APRIL 2, 1980. EFFECTIVE !lAY 29, 1980, THE MARGINAL RESERVE
RECUIREIIENT liAS REDUCED FRO!! 10 TO 5 PERCENTAGE POIN!S AND !HE DASE UPON WHICH THE MARGINAL RESERVE REvUIREMENT liAS CALCULATED WAS RAISED. !HIS AC!ION REDUCED REQUIRED RESERVES ABOUT $980 ftlLLION IN THE WeEK ENG:~G
JUNE 18, 1980. EFFECTIVE JULY 211, 1980, THE 5 PERCENT !IARGINlL RESERVE REQUIREMENT CH ~ANAGED LIABILITIES
AND lHE 2 PERCENT SUPPLE~ENTABY RESERVE REQUIREMENT AGAINST LARGE TI!IE DEPOSITS WERE REMOVED. IJESE
ACTIONS REDUCED REQUIRED ~ESERVES ABOUT $3.2 BILLION.
RESERVE BALANCES ~ITH FEDERAL RESERVE BAN~S PLUS VAULT C&SH AT iNSTITUTIONS liiTH REQUIRED RESERVE BALANCES
PLUS VAOL! CASH EQUAL TO ~EQUIRED &ESERVES AT OTHER INSTITUTIONS.
INCLUDES RESERVE EALANCES AT FEDERAL RESERVE BANKS IN THE CURRENT WEEK PLUS VAULT CASH HElD TWO WEEKS EARLIER USED !0 SA'IISFY RESERVE BECUIBEIIENTS A'l ALL CEPOSITORY INSTITUTIONS PLUS CURRENCY OUTSIDE THE u.s.
TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITURY INST-ITUTIONS, AND SURPLUS VAULT CASH AT DEPOSITORY INS!ITUTIONS.
RESERVE AGGREGATES SERIES HAVE BEEN ADJUSTED TO RE!IOVE DISCONTINUITIES ASSOCIATED WI'IH THE I!IELE!IENXATION
OF iHE IICNETAB! CCN!ECl ACT, ~lFGINAl RESERVE REQUIRE!IENTS, THE INCLUSIONS OF EDGE ACT CORPORATION RESERVES,
AND OTHER CHANGES IN REGULATIONS C AND K.
RESERVE ~EASURES FOR NOVE!IBER REILECT INCREASES IN RECOIRED RESERVES ASSOCIATED WITH THE REDUCTION OP WEEKEND
lVOIIAMCE ACTIVITIES OF A FEW Ll~GE BANKS. THE REDUCTION IN THESE ACTIVITIES LEADS TO ESSENTIALLY l ONE-TIIlE
INCREASE IN THE AVERAGE LEVEL OF REQUIRED RESERVES THAT NEED TO BE HELD FOR l GIVEN LEVEL OF DEPOSITS ENTERING 'IHE ftCNEY SUPPLY. IN NOVE!IBER, THIS INCREASE IN REQUIRED RESERVES IS ESTI!IlTED AT $550 TO $600 !IILLION.
110TE:
HIS!OR!ClL DATA ARE AVAILABlE FROII THE BANKING SECTION, DiiiSIOI OF RESEARCH AND STATISTICS,
EC&iD 0~ GOVERNORS OF TH! PED!lilL RESERVE SYS!EII, WASHIIGTON, D.C., 20551.
@FedFRASER