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.•jgSS^&u: FEDERAL RESERVE statistical release .f^f^r H.3 (502) For Immediate Release Table 1 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve requirements1 Averages of daily figures Reserves of depository institutions total2 | non borrowed required Period millions of dollars seasonal^/ adjusted Monetary base3 billions of dollars FEBRUARY 8, 1982 Reserves of depository institutions total2 non borrowed required millions of dollars not seasonally adjusted Monetary base3 billions of dollars 1980—DEC. 39,174 37,484 38,706 158.3. 39,657 37,966 39,189 160.9 1 9 8 1 — JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. 39,172 38,948 39,069 39,276 39,5S2 39,366 39,608 39,881 40,618 40,267 40,262 40,802 37,778 37,645 38,070 37,938 37,324 37,329 37,929 38,461 39,162 39,087 39,600 40,166 38,862 38,672 38,821 39,148 39,377 39,117 39,358 39,679 40,294 40,078 40,004 40,494 158.5 159.0 159.5 160,7 161.3 161.5 162.4 162.9 164.0 163.9 164.4 166.1 40,601 38,819 38,590 39,231 39,228 38,964 39,546 39,389 39,997 40,130 40,246 41,249 39,207 37,516 37,590 37,894 37,000 36,927 37,867 37,970 38,541 38,949 39,583 40,612 40,291 38,544 38,342 39,104 39,053 38,715 39,296 39,187 39,673 39,941 39,987 40,940 159.5 157.3 157.7 159.8 160.7 161.1 163-2 163.0 163.2 163.6 165.5 168.8 WEEK ENDING 1981—DEC. 2 9 16 23 30 40,666 40,089 4 1 , 0 42 40,974 41,092 40,349 39,471 40,644 40,353 40,209 40,357 39,885 40,922 40,599 40,620 165.1 164.8 166.1 166.4 167.0 40,852 40,039 41,509 41,483 41,923 40,535 39,421 41,111 40,862 41,040 40,543 39,835 41,389 41,108 41,451 166.4 167.2 168.7 169.8 170.3 1932—JAN. 6 13 P 20 P 27 P 41,166 40,740 41,709 41,184 39,712 39,740 40,759 38,713 40,422 40,462 41,313 41,068 167.2 166.3 167.7 167.5 42,319 41,877 44,149 42,313 40,865 40,877 43,199 39,642 41,575 41,599 43,753 42,197 170.1 168.2 169.5 166.5 P - PRELIMINARY 1/ RESERVE AGGREGATES INCLODE REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACl 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 REGULATIO N D HAVE 3SEN REMOVED. BEGINNING WITH THE WEEK ENDED DECEMBER 23, 1981, RESERVES AGGREGATES HAVE BEEN REDU CED 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 IT 13 ESTIMATED THAT REQUIRED RESERVES WSR2 LOWERED ON AVERAGE BY $10-20 MILLION IN DECEMBER AND THE CUMULAT IVE REDUCTION THROUGH THE WEEK OF FEBRUARY 3 HAS $40 TO 70 MILLION. 2/ RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUI RED CLEARING BALANCES) PLUS VAULT CASH AT INSTITUTIONS WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUA L TO REQUIRED RESERVES AT OTHER INSTITUTIONS. 3/ INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDS RAL RESERVE BANKS IN THE CURRENT WEEK PLUS VAULT CASH HELD TWO VZEKS EARLIER USED TO SATISFY RESERVE REQUIF EMENTS AI ALL DEPOSITORY INSTITUTIONS PLUS CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS, THE V AULIS OF DEPOSITORY INSTITUTIONS, AND SURPLUS VAUL1 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 total2 Period nonborrowed Monetary base3 required millions of dollars 1980—DEC. 40,614 38,924 40,146 162.3 1 9 8 1 — JAN. FEB. MAR. A?3. MAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. 41,535 39,754 39,693 40,291 40,433 40,353 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 40,60" 41,601 160.9 158.7 159.4 161.5 162.5 163.1 165.3 165.3 163.8 164.2 166.2 169.6 41,542 40,767 42,237 42,096 42,503 41,225 40,149 41,839 41,475 41,620 41,233 40,563 42,117 41,721 42,031 167.2 168. 1 169.5 170.5 171.0 42,889 42,453 44,678 42,819 41,435 41,453 43,728 40,348 42,145 42,175 44,282 42,703 170.8 168.9 170.1 167.1 WEEK 1/ 2/ 3/ ENDING: 1 9 8 1 — DEC. 2 9 16 23 30 1982—JAN. 6 13 20 27 P P P P | nSSERVES 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 ACI CORPORATIONS AND, BEGINNING NOVEMBER 13, 1980, OTHER DEPOSITORY INSTITUTIONS. UNDER THE TRANSITIONAL PHASE-IN PROGRAM OF THE MONETARY CONTROL ACT OP 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, 1931, 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; 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 (I3FS). 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 FEBRUARY 3 WAS $180 10 23u MILLION, MOSTLY REFLECTING A REDUCTION IN RESEKVABLE EUROCURRENCY TRANSACTIONS. RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED CLEARING BALANCES) PLOS 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 CURREHCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS.
@FedFRASER