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FEDERAL RESERVE statistical release
H.a 110111
Tllllle1
PKBIU&af
AGGREGATE RESERVES OF DEPOSITORY INSTn'UTIONS AND THE MONETARY BASE
26, 1987
In-,..._...
A4IMiiiCI for CIMingee
A.....- o1 dlllly ......... MMOIIIIIIr ....... unlell noted OlllerwiM
................
.
a...
toW'
l'leMIVI of depolltory lnetltullone
IIOIIbot'rclwM pllll
*IUINCI
IIOIIMI'roweel
llltlndiCI otedlt*
115,782
116,265
46,786
47,192
48,553
49,352
50,483
51,J18
51,1109
52,401
53,823
55,1138
45,012
45,381
46,025
116,300
47,677
48,549
119,742
50,446
50,1101
51,559
53,071
511,811
115,51)9
45,873
46,5113
46,9311
48,261
49,079
50,121
50,911
51,371
52,056
53,11119
55, 1111
114,771
45,272
45,968
46,474
47,739
48,514
49,579
50,579
51,083
51,655
52,8115
54,269
56,6113
56,063
56,288
111
28
51i,798
56,442
56,293
55,753
11 p
25 PB
Sb,86l
56,4!74
56,439
55,595
1918--J.U.
I'BB.
au.
API.
II.U
JUilB
JUU
lUG.
Sl!!ft.
OCT.
lOY.
DIC.
1981--JU. p
-
Monet.-y .....
NSA•
loi'IOwlfiQI of depolltory lnetltutlonl
fiOIII the Feclenll .,.._.. N8A
llltlndiCI CfiCIIt"
total
..__,
497
492
518
6l4
584
531
378
465
570
770
8811
761
8!13
876
803
741
872
1,008
841
36
56
68
71
94
108
116
14ll
137
99
152
10
827
38
418
303
242,038
580
34
225
8115
1,206
241,2118
242,475
505
6119
28
36
215
227
1,497
1,025
243,681
243,843
44!5
680
56
81
265
299
218,120
219,507
221,236
222,260
1,011
992
818
718
814
838
904
740
726
7116
978
1,369
226,512
228,352
230,599
231,691
233,461
236,067
238,844
55,572
1,071
56,508
55,9811
55,953
55,235
56,704
55,894
55,366
55,250
224,861
ll91
TIIG IIBBJ(S
I!!IIPUG
--------1987-JAL
l'Jo.:B.
P---PRILZIIIAII
PB--PBBLIBIIlii KSTIBlTB
~BSI!!BJIS liD IIOIIETlii BlSE PIGDII!!S IICOBPORArB ADJUSTIIIITS FOB DZSCOjTIIDITIES ASSOCIATBD IIITB TIE IBPLBIIBITlTIOI OF fBI
~lrBOL lCT liD OTHKI REGULlfOBI CHliGI!!S TO BBSBBYB BIQDIBBBINTS. TO lDJDST POB DISCOITIIDITIES DDB TO CBAIGBS II
BQDIBBIIBITS OJ BBSBRJlBLB IOIDBPOSlT LlABILifiBS, THE SOB OF SUCH IBQOIRBD RBSBRYIS lBE SOBTRlCTI!!D PROII THE lCTOlL
IBILlRLI, II lDJUSTIIIG POB DISCOITIIDITIBS Ill THE ftOIIBTlBI BlSB, RBQUIBBD CLElRIIIG BlLliCES liD lDJOSTIIBITS TO
I 108 PLOlT ALSO ARB SDBTRlCTBD PROII THB ACTUAL SBBIBS.
L
IRJES lOT lDJOSTBD POl DISCOITIIIUITI&S CONSISTS OP .BBSEBJB BlL&ICBS IIITB PBDBBAL RBSBRJB BARKS (WHICH BICLUDI
RBQOIRK» CLEAIIIG BlLliCBS liD lDJDSTBBRTS ro COIIPBISlTB POR FLOAT) PLUS YlULT CASH OSBD TO SlTISPI RBSEBJI IBQUIBIBEITS.
SOCB JlUL% CASH COISISTS OP"&LL JAULT CASH HELD DUBIIG THE LAGGBD CORPOT&TIOI PERIOD BI IRSTITUTIOIS HlfiRG RBQUIBID BISIBJB
BAIAICBS AT PIDIRlL IISEBYI BliKS PLUS TBB liiODIT OP JlULT CASH EQUAL TO RBQDIRBD RBSERVBS DUBIIG THB llliRTBiliCE PERIOD lT
IISTlr~IOIS BlYIIG 10 RBQDIIBD BBSERJB BALliCBS.
l/ IITIIDID CIIDIT COISISTS OF BOBBOVIIG lT THB DISCOUIT WIIDOII OlDER fBB TIBBS lRD CORDITIOIS BSTABLISBBD POl TRB BITBIDBD
CIBDir PBOGilll TO HELP UBPOSITORI IISTITUTIOIS DilL WITH SDSTliiBD LIQUIDITY PRBSSOBBS. BBCAOSE THBRB IS ROT THE Sllll IIBBD TO
IIPli SICK IOIBOIIIIG PROBPTLI lS THERE IS WITH TBADITIOIAL SHOIT-TBRB lDJUSTIIBIT CBBDIT, THE BOlli lllBKBT IIIPlCT OP EXrBIDBD
CIIDIT IS SIIIILAR TO THAT OP IOIBOIIOVBD BBSBRJ~S.
' / RI&IIJB BlLliCIS IIITB PBDBRAL RBSBRJB BliKS PLUS JlDLT CASH USED TO SlTISPI RBSBRYB RBQUIRBIIIITS LIS$ IEQUIRBD BBSBBJBS.
I/ Til IIOIBTlii BASI JOT lDJDSTBD POl DISCOITIIDlTIBS COISISTS or TOTAL RBSI!!RYBS PLUS BF.QUliBD CLB&BIIG BALARCBS lRD lDJUSTIIBITS
!0 COBPBISlTB FOB PLOlT lf PEDBBlL IBSERJB BAlKS PLUS THE CUNBBJCI COIIPOIEIT OP fBB ROREr STOCK LESS THB AIIODIT OP JlULT ClSB
IIOLDIIGS OF TBRIPT IISTITUTIOIS TBlT IS INCLUDED II fBI CDBRBNCY COIIPOIBIT OF THB RONBI STOCK PLUS, lOB IIISTITUTZONS IOT.BAJIIG
BIQiliBii USllBYE BlLUCBS, TBB BICBSS OP CUJIBBIT YAULT ClSB OYBR TBB liiOUIT APPLIED TO SlTISPI CUIIBEIT BISI!!BJB BBQUIRBIIEITS•.
lFTBI IBB IITRODDCTIOI OF CBB, CUBIBICI liD JlULT CASH PIGORBS ARB RBlSUBED OYER THE IIOND&Y-BNDIIG COIIPUT&TIOI PBBIOD•.
PliO& to CBB. ALL COIIPOJBITS OF THI ftONBTABI dlSB OTHBI THAN BXCBSS RBSBBJBS ARB SEASOilLLI lDJDSTBD AS l IIHOLB, BATHBB ~Rll
II COIPOIIIT, AID EXCESS BESBRJBS IS ADDED 01 l lOT S¥lSONALLJ ADJUSTED BASIS. APTEP CBR, TH~ SBASOIIALLI lDJUSTBD SBBIBS
C. .SISTS OP SBASOilLLY ADJUSTED tOTAL BESBBJES (WHICH INCLUDES BXCBSS BBSKRVKS 01 A NOT SEASOilLLI ADJUSTED BASIS) PLUS TBB
SlliOilLLY AUJDSTED CURBEICY COKPOIBIT OP THE BONI!!J STOCK PLUS THB BEKA!RING ITERS SEASONALLY lOJOST~D AS A VHOLB.
IGf&: ftiSTOBI~AL DATA &BE lVllLABLE FROB THE BANKING SICTIOI, DIVISION OP RESEARCH AND STATISTICS, BOARD OF GOYEBIORS OF TBB
PB»IMlL IES~RVE SYSTEB, WlSHlNGTOI, D.C. 20S51
H.3 (502)
Table 2
AGGREGATE RESERVES OF DEfOSITORY INSTITUTIONS AND THE M.ONETARY BASE
·Not adjusted forschanges 1(1_ ~el!!rv~ .r~r_e_ment:lf.
Averages of dalfy fiQ~Jres, !101 s~ason,lly adju_ste
Millions of dollars
Monetaty
base,
Date
total
1986--JU.
na.
ua.
APB.
!lAY
JUIB
JUt.l
AUG.
SEPT.
OCT.
IIIOY.
DBC.
1987--JU. p
nonbonowed
Reserve
with F.R.
required
surplus'
2,563
3,000
2,519
22,231
22,1l71l
22,801l
23,098
23,1l51
23,384
23,753
23,543
21l,071
21,687
;,!1,953
20,158
1'1,991
20,11l0
2o,n,.
20,711
21,112
21,267
21,676
21,59S
1.2,199
36,587
25,049
23, ou
1,965
249,603
2U,3J8
38,710
35,228
24,583
25,028
1.2.815
23,0f2
1, 768
2,017
485
113
244,925
244,199
33,026
33,704
27,327
25,237
24,680
22,8J4
2,647
2,403
131
259
55,647
58,733
48,081
ll7,5U1
ll9,007
50,118
50,538
52,1l63
53,877
5S,Il21
58,191
221,480
219,1l76
221,602
224,826
226,089
229,562
232,535
233,315
235,067
237,257
241,267
21l7,707
26,273
24,.591l
27,038
28·,808
28,255
29,1l01
30,306
30,165
31,922
32,947
31l,803
37,360
59,671
59,092
58,600
24b,113
61,525
58,239
61,020
57,551
60,680
57,0J3
57,705
56,538
57,281
55,859
56,208
5.5,513
47,96.0
46,547
47,195
48,·799
48,39b
ll9,81l5
51,023
51,271
53,189
54,623
56,399
59,560
IH,.190
45,6611.
ll6,US
41,906
ll7,520
ll9,01l2
50,282
50,1l05
52,180
53,182
4o,949
45,~55
llb~378
24,250
21l,95J
22,611
2,2'l0
2,333
2,360
2,381
2,339
2,117
2,078
1,91l7
1,872
TWO li!BitS
________
II DUG _.,.
1987--JAL
111
28
PIS.
11 p
25 PB
P---PB BI.IIIlllll Ill
PB--PBBI.IftiiiiABt BSTiftATB.
1/ BEFLBCfS ACTUAL BBSBBVB IBQUIBB!IITS, liCLODlNG THOSK 0111 IOIDBPOSIT LIABILITIES, liTH 10 ADJOSTftEITS TO BLiftiiAfl
THE Bl'FECTS or DISCOtiTliUr'l'IES lSSOCllT!D lll'lH UPLIIB-IITltiOI Ol' THE, ftOIIIETABI COJTROL ACT OR OTHn BBGOLA·TORt
CHAtiGBS TO BBSBBYB RBQO~BKftBITS.
.
21 COISISTS OF .TOTAL RBSiUBS PLUS aBQOIBBD CLB&ItUG B&LliCBS liD ADJOSTftBJTS TO COftPEIISlTB FOB rt.Ol'l' lT PBDBBlt. 'IISIIYB
BANKS PI.OS THE COBBEVCI COftPOIEIIT OF THE ftOIIEf STOCK LESS THE AftOOIT OF VAULT CASH ROLD~IIGS or THRIFT IIISTITOTIOJS THAT
IS: lJICl.UDED U tH~ CURBIIIICI COftPOBBIIT Ol' TilE llOIBt STOCK PLUS, FOP. USTITUrtOIIS lOT HlfiiiG JIEQUUBD BBSI!BfE BALAJCBS, THI
EXCESS 'ol' CO~~IT YlOl.T CASH OYER THB liiOOIIT U•PLlED TO SArlSrt COBBEIIT BESBBYE BBQOIBEftEITS. U'TEB THE IIITBODUC'fiOI or
CR&.,CURB~ICI liD YAUI.r CA~H l~GORES ARE ~BASUBED OJBB THB ftOJDAI-BtiDIMG COIIPOTATIOII PBRIOD.
31 EICLODiS IBQUIBBD t:LKAliiiiG Blt.AIICBS liD ADJUST!JU11'S TO CO!PBJSATB 1'08 FLOAT.
41 DUE·S kBFER TO TUB BUIITEIUCB PEJUODS II IIHICH THE VlOLT CASH CAB BB USED TO SAUSFI BESBBU RBQUXRBIIBJTS.
UIDBR
COJTBftPORAtiBOUS RBSBBYE BBQUIRBftBITS, BliHTBiliiCB PERIODS EID 30 D&IS AFTER THB LAGGED COftPOTlTIOIII PERIODS
Ill VBICH THE BALANCES ARB HELD.
51 BQOAL TO ALL VAULT CASH HELD DORIJG TRB LAGGBD COftPOTATION PERIOD BI IJSTITOTIOJS RAYIJG BBQOIBED RBSBBJB BAL&IICBS
AT PBDEBli. BESERJB BANK~ PLUS THE AftOONT OF JAOLT CA~H KUOAL TO REQUIRED BBSERJES DORING THE ftAIIITBNAHCE PERIOD AT
INSTITUTIONS HAVUG NO REQUIRED RESERVE BALANCES.
.
6/ TOTAL VAULT CASH AT liiS~ZTUTlOIIIS.HAVING 110 BE~UIBBD RESBBJB BALAICBS LBSS THE AftOONT OF VAULT .CASH EQUA~ TO !HB!B
BEQUlllED IIIISERVES DURING T·HE ·Jl·UNTENAHCE PERIOD.'
7/ COti~ISTS Ot CAIIltYOYER ONLY AT DEPOSIT,Oat lNS'tUUTIORS fiAIIITU.tnN('; 'Bl'!SERYES ON TRB BASIS OF TIIO-IIEEK flliNTEIIl~E
PERIODS. REFLECTS EXCESS (•) GR DEFILIT (-) WESRRYRS ELIGIHL~ TO BE CARRIED fORWARD INTO TH8 TWO-WBEK RESERYl
flliNTBNANCE .PERIOD ENDIN<. ON THE DATE SHOWN.
H.3 (502)
Table 3
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adjusted for changes In reaerve requlrements 1
Averages of dally figures, not aeaaonally adjueted
MlllloM of dollers
·
Date
total
Reserves of depository Institutions
nonborrowed
Monetary baM
required
47,013
45,579
46,260
47,853
47,688
49,105
50,313
50,622
51,546
52,341
54,107
57,165
46,243
44,696
45,499
46,961
46,812
48,302
49,573
49,749
50,538
51,500
53,355
56.338
46,002
44,587
45,442
47,135
46,874
.fl8,267
49,409
49,882
50,821
51,595
53,129
55,796
218,643
216,678
218,87o
:.!:.!2,042
223,59J
U6,91l
230,008
:uo,755
231, 51l
233,040
4!36,914
243,041
58,253
57,673
57,181
242,826
28
60,200
56,736
59,695
56,048
59,355
55,530
245,650
2At0,49d
11 p
25 PI
56,242
55,097
55,818
54,411
54,745
54,072
240,513
:.!40,553
1986--JAN.
FBB.
1!1&.
APB.
lUI
JUIIB
JULY
AUG.
SBP!.
OCT.
IIOY.
DBC.
1987--JU. p
TWO IIEBIS
BIIDIJIG
----------1987--Jll.
14
.PBB.
P--- PR BLlll.lHABY
PB--P&BL.lllliiAKI ES!IIIATB.
1/ PlGUBBS KBFLBC! lDJOSTIIBIITS FOB DISCOITlMU.IriKS ASSOCIATED WirH !BE liiPLB!BIITlTlOII OP TBB IIOIBTABI C01!80L ACT
liiD orHHK iBGULATOiY CHAIIGES TO 8BSEBYB BEQUIBEIIBITS.
@FedFRASER