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FEDERAL R ^ f t V E statistical release FEB ?* W M.3(KB) Fori *BBB1U8X 2 2 . , f982 AGGREGATE RESERVES 0*A6aQJfrORY INSTITUTIONS ANO MONETARY EASE AdjtMMdlorchingniniMMwnquirMWiWI J n ™ - - < • • ' - Avtuow ef dtilv (jgurw ^ Reserves of depository institutions Period total* nonborrowed required millions of dollars seasonal)* adjusted 1981— Monetary bast* billions of dollars Reserves of depository institutions nonborrowed required total3 millions of dollars not seasonally adjusted I Monetary base* billions of dollars 40,312 40,118 40,150 40,530 37.682 37,818 38,238 38,073 37,399 37*582 38,048 38,390 38.855 38,937 39,487 39,893 38,702 38,771 38,957 39*241 39#370 39*281 39*387 39,518 39,898 39,840 39,805 40,208 158.4 159.1 t59.6 160.8 161.4 T61.7 1*2.5 162.9 163.7 163.8 164.3 165.8 40,665 38,894 38.622 39,273 39,310 39,053 39,636 39,479 40,087 40,219 40,332 41,265 39,271 37,590 37,622 37,935 37,083 37,016 37,957 38,060 38,630 39,038 39,669 40,629 40*291 38,544 38,342 39,104 39,053 38*715 39,296 39,187 39,673 39,941 39,987 40*943 159.6 157*4 157.8 159.9 160.8 161.2 t63.3 163.2 163.3 163.8 165.6 169.0 41,243 39,725 40,830 167.4 42,663 41,145 42*250 168.5 6 13 20 27 41,028 40,472 41,969 41,178 39,574 39,472 41,019 38,707 40,402 40,121 41,432 41,006 167.t 166.2 168.1 167.7 42,201 41,947 44,307 42,369 40,747 40,947 43,357 39,898 *1*575 41,596 43,770 42,197 170.1 168.4 169.8 166.7 3 P 10 P 17 P 41,760 40,532 41,419 39,913 38,868 39,511 41,354 40,355 40,742 168.6 167.2 168.6 42,242 40,188 41,416 40,395 38,524 39,508 41,836 40,011 40,739 166.9 166.1 167.5 3S,077 39,122 39,237 39,410 39*627 39,619 39,727 39,aio JAN. FEB. ITAR. APR. MAY JUNE JULY AUG. SEPI. OCT. NOV. DSC. 1982—JAN. WEEK ENDING: 1982—JAN. FEB. P — PRELIMINARY 1/ RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND 0 T H £ * D E P ° S ^ORY INSTI1UTI0NS. DISCONTINUITIES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACS, THE INCLUSION OF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES IN REGULATION D HAVE BEEN REMOVED. BEGINNING HITH THE WEEK ENDED DECEMBER 23. 1981, RESERVES AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF RESBRVABLE LIABILITIES TO INTERNATIONAL BANKING FACILITIES (IBFS). ON THE BASIS OF REPORTS OF LIABILITIES TRANSFERRED TO IBFS BY U.S. CSSSC"?"IKS"W AND BRANCHES CF FOREIGN BANKS, IT IS ESTIMATED THAT REQUIRED RESERVES HERE LOWERED ON AVERAGE BY $10 TO 20 MILLION IN DECEMBER 1981 AND $40 TO 70 IN JANUARY 1982. RESERVE AGGREGATES DATA PUBLISHED LAST WEEK AND TODAY,IINCORPORATE BENCHMARK AND SEASONAL ADJUSTMENT FACTOR REVISIONS. 2/ RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE UEQUIBED CLEARING BALANCES) PLUS VAULI 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 institutions1 total* Period ^ nonborrowed required Monetary base3 millions of dollars 41,600 39,828 39,725 40,333 40,516 40^*42 41,007 41,023 40,591 40,711 40>$48 41,926 40,205 18,525 38,726 18,995 38,288 38,405 39,338 39,604 39,134 39,531 40,285 «H,290 41,226 39,478 39,445 40,164 40,258 40,104 40,667 40,731 40,177 40,433 40,604 41,604 161*0 158.8 159.5 161.6 162.6 163.3 165.4 165.4 161.9 164.3 166.3 169.7 43,202 41,684 42,789 169.2 « 6 13 20 21 42,774 42,524 44,836 42,876 41,320 41,524 43,886 40,405 42,148 42,173 44,299 42,704 170.8 169.1 170.4 167.3 * 3 P 10 P 17 P 42,738 40,708 42,134 40,891 39,044 40,226 42,332 40,531 41,457 167.5 166.8 168.4 V981r-JA«-* FEB. MAR. AP1U MAY* JutfB JOLTG aus. SEPT. OCT. NOV. D£G« * 1982--JAB. WEEK ENDING: 1982—JAN. FEB* 1/ 2/ 3/ RESERVES OF DEPOSITORY INSTITUTIONS SERIES REFLECT ACTUAL RESERVE REQUIREMENT PERCENTAGES HITH NO ADJUSTMENTS TO ELIMINATE THE EFFECT OF CHANGES IN REGULATION D, INCLUDING CHANGES ASSOCIATED HITH 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 MILLION; AUGUST 13, 1981* AN INCREASE OF $245 MILLION; SEPTEMBER 3, 1981, A REDUCTION OF $1.3 BILLION; NOVEMBER 19, 1981, AN INCREASE OF $220 MILLION. BEGINNING HITH THE HEEK ENDED DECEMBER 23, 1981, RESERVES AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF RESERVABLE LIABILITIES TO INTERNATIONAL BANKING FACILITIES (IBFS). ON IHE BASIS OF REPORTS OF LIABILITIES TRANSFERRED TO IBFS BY U.S. COMMERCIAL BANKS AND U.S. AGENCIES AND BRANCHES OF FOREIGN BANKS, 11 IS ESTIMATED THAT REQUIRED RESERVES HERE LOHERED ON AVERAGE BY $60-90 MILLION IN DECEMBER 1981 AND $180 to 230 IN JANUARY 1982, MOSTLY REFLECTING A REDUCTION IN RESERVABLE EUROCURRENCY TRANSACTIONS. RESERVE BALANC3S HITH 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 INSTITUTION^. INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS IN THE CURRENT HEEK 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.
@FedFRASER