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FEDERAL RESERVE statistical release H.3 (502) For Immediate Release Table! MAR & ISQg FEBRUARY 22 , 1983 Adjusted for changes in reserve requirements1 r> t~*"?-« i » » . Averages of daily figures -^fcKAL KLS -•£ K V fc, IjL. \jtM}K> V- Reserves of depository institutions Reserves of depository ir\st itUtiAQS,, ^ , MonetarylSSsfcS Monetary base3 total2 I nonborrowed I total2 nonborrowed required Period billions ofdollars billions of dollars millions of dollars millions of dollars seasonal h1 adjusted not seasonally adjusted 38,713 38,262 38,356 38,433 38,504 38,575 38,523 38,804 39,566 39,875 40,458 40,891 37,195 36,472 36,801 36,865 37,387 37,370 37,832 38,289 38,632 39,398 39,837 40,257 38,295 37,958 37,994 38,160 38,145 38,266 38,210 38,492 39,182 39,471 40,056 40,391 164.4 164.8 165.3 166.4 167.7 168.6 169.1 170.2 171.8 172.9 174.0 175.2 40,036 38,052 37,799 38,330 38,189 38,069 38,434 38,512 39,353 39,997 40,679 41,572 38,519 36,262 36,244 36,762 37,071 36,864 37,743 37,996 38,420 39,519 40,058 40,938 39,618 37,748 37,437 38,057 37,830 37,761 38,120 38,199 38,969 39,592 40,277 41,072 165.3 162.9 163.3 165.6 167.1 168.2 170.0 170.4 171.4 172.9 175.1 178.4 P 40,956 40,427 40,410 177.1 42,254 41,724 41,708 177.3 5 12 19 26 41,551 40,219 41,398 40,862 40,353 39,794 40,933 40,537 40,558 39,928 40,777 40,361 177,3 176.4 177.4 176.8 42,690 41,598 43,551 41,956 41,492 41,173 43,086 41,631 41,697 41,307 42,930 41,455 179.6 177.8 178.6 175.6 2 P 9 P 16 P 40,905 40,206 40,845 40,520 39,834 39,976 40,491 39,793 39,893 177.3 176.7 177.5 41,338 39,868 40,821 40,953 39,496 39,952 40,924 39,455 39,869 175.0 175.5 176.2 1982—JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. 1983—JAN. WEEK ENDING: 1983—JAN. FEB. 1/ 2/ 3/ 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 TO $20 MILLION IN DECEMBER 1981 AND $40 TO $70 MILLION IN JANUARY 1982. 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. 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 tota|2 Period nonborrowed required Monetary bas«3 millions of dollars 1982—JAN. FEB. MAR. APR. HAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. 1983—JAN. 43,203 41,286 39,235 39,557 39,550 39,565 39,967 40,178 39,962 40,587 41,199 41,853 41,685 39,496 37,680 37,989 38,433 38,360 39,275 39,662 39,028 40,109 40,578 41,219 42,784 40,982 38,873 39,284 39,191 39,257 39,653 39,866 39,578 40,182 40,797 41,353 169.1 166.8 165.4 167.6 •169.2 170.4 172.3 172.8 172.3 173.8 176.0 179.3 P 41,862 41,332 41,316 177.9 5 12 19 26 42,353 41,281 43,118 41,523 41,155 40,856 42,653 41,198 41,360 40,990 42,497 41,022 180.1 178.4 179.1 176.1 2 P 9 P 16 P 40,898 39,445 40,368 40,513 39,073 39,499 40,484 39,032 39,416 175.5 176.0 176.8 REEK ENDING: 1983—JAN. FEB. V 2/ 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 AND PROVISIONS OF THE DEPOSITORY INSTITUTIONS ACT OF 1982, THE NET CHANGES IN REQUIRED RESERVES OF DEPOSITORY INSTITUTIONS HAVE BEEN AS FOLLOWS: EFFECTIVE NOVEMBER 13 1980 A REDUCTION OF $2.9 BILLION; FEBRUARY 12, 1981, AN INCREASE OF $245 MILLION; AUGUST 13, 1981, AN INCREASE ' OF $245 MILLION; MARCH 12, 1981, AN INCREASE OF $75 MILLION; MAY 14, 1981, AN INCREASE OF $245 MILLIONk l 5 ^ 5 E A S E ° F $ 2 3 ° M I L L I 0 » 5 SEPTEMBER 3, 1981, A REDUCTION OF $1.1 BILLION; NOVEMBER 12, 1981, AN INCREASE OF $210 MILLION; JANUARY 14, 1982, A REDUCTION OF $60 MILLION; FEBRUARY 11, 1982 AN INCREASE OF $170 MILLION; MARCH 4, 1982, AN ESTIMATED REDUCTION OF $2.0 BILLION; HAY 13, 1982, AN ESTIMATED INCREASE OF * 2 5 2 / o L L I O H S A 0 G 0 S T 1 2 ' 1 9 8 2 * A N ESTIMATED INCREASE OF $140 MILLION; SEPTEMBER 2, 1982, AN ESTIMATED REDUCTION OF $1.2 BILLION, OCTOBER 28, 1982, AN ESTIMATED REDUCTION OF $100 MILLION; AND DECEMBER 23, 1982 AN ESTIMATED p f n ^ n ° S v ° L ^ £ 2 H I L L I 0 N - BEGINNING WITH THE WEEK ENDED DECEMBER 23, 1981, RESERVE AGGREGATES & AVE ° 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 RESEVES WERE LOWERED ON AVERAGE BY $60 TO $90 MILLION IN DECEMBER 1981 AND $180 TO $230 IN JANUARY 1982, MOSTLY REFLECTING A REDUCTION IN RESERVABLE EUROCURRENCY T R A S S A C W O N S RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDED REQUIRED CLEARING MLANCESIPLUS VAULT llll' AT INSTITUTIONS WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQSAL TO REQUIRED RESERVES AT OTHER OSTITOTI0NS INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS IN THE CURRENT W M K ^ U S VAULT CASH HELD TWO WEEKS EARLIER USED TO SATISFY RESERVE REQUIREMENTS AT ALL DEPOSITORY i S s ^ T I O N S P L S S CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTioNS A 2 D SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS. *ruox*u«i a i o m u i l U N S , AND
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