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.·. . FEDERAL RESERVE statistical release JAN 18 1989 ..t • l , FEDERALRESERW~~~:ao~~ H.3CIIIIt Tlllle1 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY IA8E AdJuetecl tor clleniM In - OF PH!LADEU'AlXa •"• 1989 ........._.. A,..... al ~ ....... MMOMIIy fldlullld uniMI ncMd othelwiM - MllloM al dollerl ....... DIIM ,.._of _....._.. ...,... lnatltutloM ~plue utlllcled~ 58,122 57,944 !»8,4:.!8 57,693 1988--JAI. l'BB, liAR, APL 59,458 59,57.l 59,760 60,374 60,365 60,&37 o1,2l8 61,090 60,995 60,956 61,055 60,991 58,376 59,117 58,009 57,380 57,787 57,555 57,798 57,849 58,156 58,657 58,194 59,275 511,748 59,382 59,487 o0,004 59,894 60,108 60,336 o0,502 C.0,215 60,438 o0,51c. &0,519 61,508 60,6..!8 58,275 58,066 1&1,195 60,867 60,618 JUHB JULY AUG, SEI't', OC'l. IIOY. llEC. PI! .......... al ~ltullonl ......... ,._ ... ,..,.. lotll NIA" 1987--DEC. !lAY .........., ...... N8A -...clcncllt" 1,029 257,928 111 9.l 1183 58,163 58,440 58,832 59,515 59,325 59,750 60,231 60,137 60,024 59,894 59,936 59,948 1,295 1,133 929 859 1,0110 888 1,007 953 972 1,062 1,119 1,043 260,7:l1 262,019 263,315 265,809 266,924 268,309 270,626 271,200 272,1t46 273,731 274,473 275,925 1,082 396 1,752 2,993 2,578 J,083 J,lf40 59 75 119 1U 246 311 376 423 1121 372 205 1,478 2,624 2,107 2,554 2,538 2,653 2,059 1,781 2,322 1,2411 61,113 59,929 59,905 59,994 1,603 635 274,669 2711,334 3,233 2,502 178 tao 2,838 1,863 59,182 59,520 60,710 60,488 60,219 59,746 91b 1,120 275,759 275,90:.1 2,014 1,347 131 137 1,529 968 58,570 59,178 59,627 9111 216,801 2,048 94 1,208 . 3,241 2,339 2,299 2,1Ui 1 1,716 332 186 130 TVO WEEKS EIIDIIIG --------1988-liOY. DEC. 1989-J.u. ---· 16 30 14 28 p 11 PE I --- t'""--PBELIIIIJABY PI--PIELIIUIUY BSfliUTI 1/ BBSBBYBS AND IIOJE'llRI BASI FIGURES INCOBPOBATJ lDJUSTI!ITS 101 DISCOJfiJOlfiES ASSOCIATED VITI THI IIIPLIIIITlfiOI OP THI IIONETARI COJTBOL lCT AID OTHER REGOLATOBI CHAI~IS ~0 BBSBRYI BIQUIREBBITS. tO ADJUST POl DISCOitiNOITIES DUB TO CHAJGBS II BBSBBU BEQUIRBBEITS 01 BBSEBf.lBLE IOIDI!!POSir LllD:.;.:LITIBS, THE SOB OP SOCB BBQOIBBD B!SIBYBS ABE SUB'J:a&CTID PBOII THI AaUA-L SERIIS. SIIIILABLJ, II AD~USTIIG FOB DISCOITIMOITIB~ IM THI BOIE'lARI BASE, BBQUIBED CLElBIMG BALAJCES liD ADJOSTIIITS TO COIIPIJSATE FOR FLOAT lLSO ABE SUBTRACTED FROB THE ACTUAL SERIES. 2/ TOTAL BBSERYES lOT ADJOSTBD POR DISCONTINUITIES COISISTS OP RJSKIYK BALAICBS liTH PIDIBAL BISBBJE BAI&S (IHICB IICLUDI REQUIRED CLEARING BALANCES AND ADJUSTRENTS TO COftPENSATE FOR FLOAT) PLUS VAULT CASH USED TO SATISFY aBSERYB li!!QUIREftENTS. SUCH VAULT CASH CONSISTS OF ALL YAOLT CASH HELD DORING THE LAGGED COIIPDTATION PERIOD Bl INSTITUTIONS HAYIIG REQUIRED BESIBYI BALAICES AT FEDERAL BESEBYE BANKS PLUS THE AftOUMT OF VAULT CASH EQUAL TO REQUIRED RESERVES DURING THE IIAINTINANCE PERIOD AT INSTITUTIONS HAYING NO REQUIRED RESERVE BALANCES. 3/ EXTEIDBO CREDIT CONSISTS OP BORROWING AT THE DISCOUIT VIIDOi ONDER THE TBRIIS AND CONDITIONS ESTABLISHED FOR THE BlTEIDBD CRBDIT PROGRAft TO HELP DEPOSITORY INSTITUTIONS DEAL WITH SUSTAINED LIQUIDITY PRBSSOBES. BECAUSE THKBE IS lOT THE SAlE liED TO REPAY SUCH BORBOilNG PBOIPTLY AS THEBE IS WITH TRADITIONAL SHORT-TERft ADJUSTMENT CREDIT, THE IION~I IIARKBT IBPACT OF EXTENDED CREDIT IS SIIIILAB TO THAT OF IOIIBORROWED RESERVES. 4/ RESERVE BALAICES liTH FEDERAL RESERVE BANKS PLUS YAOLT CASH USBD TO SATISFY BBSIBYI BEQUlRBIIBITS LESS BEQOIBED RBSEBYES. 5/ THE BOBETARI BASE NOT AUJOSTED FOR DISCOMTIMOIXIES COIISISTS Of TOTAL RESERVES PLUS REQUIRED CLIA~IIG BALANCES AND AOJOSTKBITS TO COIIPENSATE POB FLOAT AT FEDERAL RESERVE BAlKS ~LUS THE CUBRIICI COHPOIERT OF THE ftOiiEY STOCK PLUS, POB IISTITOTIOIS NOT HAVING REQUIRED RESERVE BALANCES, THE EICF.SS UF CURRENT VAULT CASH OYER THE AftOUIT APPLIED TO SATISPI CURRENT RESERVE BEQUIREIIENTS. AFTER THE INTRODUCTION Of CCR, CURRENCY ~liD VAULT CASH FIGURES ARE IIE~SORED OVER THE KONDAI-EIDIIG COBPOTATIOR PERIOD. THE SBASONALLI ADJUSTED ftOMETARI BASE COISISTS OF SEASONALLI ADJUSTED TOTAL BESBBV~ (WHICH IBCLDDBS EXCESS RESERVES OR A NOT SEASONALLY ADJUSTED BASIS) PLUS THE SEASONALLY ADJUSTED CURRENCY COKPOIENT Of THE KOBEY STOCK PLUS TRE REftAINtNG ITERS SBASONALLI ADJUSTED AS A WHOLE. NOTE: HISTORICAL DATA ARE AVAILABLE PRO" THE ftONEI AND RESERVES PROJECTIONS SECTIOR, DIYISION Of KOIBTARI AFFAIRS, BOARD OF GOYERROBS OF THE FEDERAL BESEBYE SISTEII, lilSH.tNGTOII, o.c.:. 20551 H.3 (502) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Not'adtusted tor, changes In reserve requirementsA-ages ol daiiy figures, not seasonatiy adjUsted Millions ol dollars Monetery base~ Data total nonborrowed Reserve balances with F.R. 8anu 3 required total required reserves•! surplus 1987--DBC. ol,123 t>1,3116 61,0911 2M>,161 37,673 26,155 .lll,ll119 1,706 198tJ--JAN. CJ2,640 60,0117 60,076 62,Ubll 60,CJ81 61,991 62,756 61,965 b2,15l 61,915 o2,ca07 63,750 b 1, 558 59,650 58,324 59,071 58,103 58,908 59,J16 58,724 59,314 59,616 59,5116 62,0Jit 61, Jll5 58,914 59,147 o1,.!05 59,b41 b1,103 61,7119 61,01.l t.1,181 bO, 85J b1,287 b2,707 2b5, 789 262,598 2bJ,979 268,127 268,899 275,591 31.992 .!15, OJJ 283,212 36,911 37,213 36,1121 36,997 37,8118 26,'H9 28, 119 25,9;16 25,200 25,87J 25,717 26,1179 26,89!) 26,U6 27,196 26,74b 27,197 .l5,1!)!) .!:»,836 211,011!1 .lJ,6J6 27~,6511 37,1185 311,211 36,027 38,11:.!9 36,509 37,907 1, 7bll 2,283 1,877 1,561t 1,700 1,6Jl 1,715 '· 841 1,786 1,702 •• 335 1,296 63,165 61,795 59,932 59,233 61,562 61,16.0 279,320 278,535 38,1113 35,981 26,221 27,259 .l!>,Ol.l 28 p 1>3,491 6J,CJ58 61,1177 62,312 62,515 6.!,538 .!81,758 2811,21t1 38,363 37,141 26,l1b 27,927 25,128 2CJ,518 1~ 1t18 1,410 12 1117 11 PE 65,J88 03,3110 64,3!0 285,821 J 8, 751 27,9011 2b,b37 1,266 1111 fEB. liAR. APR. IIAI JUIE JULY AUG. SEPT. OCT. liOV. DEC. PB 271l, 8711 275,175 278,653 .z,.,11.l 24,0816 24,7bJ .l!>,054 .!4,9110 25,119Q 25,1110 25,902 TIIO IIEEltS EIDING ---------1988--IOf. 16 30 DEC. 1989--JU. 14 25,8111 1,200 1,4116 P---PRELIIIIURI PE--PRELIBIIABY ESTiftATE. 1/ REfLECTS ACTUAL RESERVE RBQUIRBIIEITS, INCLUDING THOSE ON NONDEPOSIT LIABILITIES, WITH NO ADJUSTIIENTS TO ELIIIINATE THE EPPECTS OF DISCONTINUITIES ASSOCIATED WIXM liiPLKftEKTATION OP THE IIONETARY CONTROL ACT OR OTHKB iEGULlTOil CHANGES TO RESERVB REQUIRBIIENTS. . 2/ COISISTS OF TOTAL RES£ifiS PLUS RE~OlRED CLEARING BALAICES AND ADJUSTIIENTS TO COIIPEISATE FOR FLOAT Af 'EDIRlL RISIRfl BANKS PLUS THE CURRENCY ~OIIPONEJT Of THE ftONEI STOCK LESS THE AIIOUNT Of VAULT CASH HOLDINGS OP THRIPT INSfiTUtiOJS THAT ~S I~LUDED IN THE CURiEliCI COIIPOWEIT OF THE ftONBI STOCK PLUS, FOR INSTITUTIONS NOT HAVING RE~OIRED RESERYI BALANCES, THE EXCESS OF CORRINT fAULT CASH OVER THE AIIOUNT APPLIED TO SAtiSFY CURRENT RESERVE R&~OIREIIENTS. AtTEB THE INTRODUCTION OF CRR, CORREIICY liD VAULT CASH FIGURES ARE IIEASUHEU OYER THE IIONDAY-EIDING COIIPUTATION PERIOD. l/ EXCLUDES REQUIRED CLEARIIIG BALANCES AID ADJUSl'IH:NTS TO COIIPENSATE POR FLOAT. Ill OATES 6EPER TO THE IIAlNTENAKCE PERIODS IN WHICH THE VAULT CASH CAN BE USED TO SATISFY R~SERVE REUUIBB"ENTS. UNDER CONTEIIPORAIEOUS RESERVE BEQUlREIIENTS, IIAINTENANCE PERIODS END JO DAYS AYlER THE LAGGED COIIPUTATION PERIODS IN WHICH THE BALANCES ARE HELD. 5/ EQUAL TO ALL VAULT CASH HELD DURING THE LAGGED COIIPUTATION PERIOD BY INSl'ITOTlO!IS HAYING RE\IULRIW BESt:BVE BALANCES AT t'EDt:RAL RESERVE BANKS PLUS THE AIIOUIIT OF VAULT l:ASH E\IUAL TO REQUIRED RESEBYBS DURING THE fiAINTENAiiCB PERIOD AT INSTITUTIONS HAVING NO REQUIRED RESERVE BALANCES. 6/ TOTAL VAULT CASH AT INSTITUTIONS HAVING NO IIEo,iUlllt!D I:IESt:RVE BALANCES LESS TilE A"OUNT OF VAUL'f CASH EQUAL TO THEIR ~EUUIBED RESERVES DUklNG THE ftAINTENANCE PEIILUO. 11 CONSISTS OF CARRYOVER ONLY AT DEPOSITOI:IY INSTU'UTIONS ftAINTAINING IIESEUVES ON THE RAS15 01' TIIIU-Vt!I':K IIAINTENANCE PERIODS. IIEf'Lf.l:TS EI~ESS (•) OR DHlt.lT (-) ut:.:it:tiVE!l t:LIGIEILE ro IJI:. CAIIRIED fORWAI'D INTO 'l'IH: TIW-IIEEK RESERVE nAlNTENA5CE PERIGO ENDING ON TH~ DATE SHOWN. H.3 (5021 T8ble3 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE AdJueted for cllangee In r - requlrMMnta' A-agM of dally flgu-. not - ' l y adjuated MIUione of clol18ra Date totel AeMtVea of depository lnatltutlona nonborrowed Moneluy baM required -· 1987--DBC. 60,023 59,245 58,994 ~b.l,OSJ 1988-J&I. 61,199 58,663 58,851 60,91t7 59,4511 60,679 61,1167 60,591 60,6511 60,5111 61,155 62,1139 60,117 58,267 57,099 57,9511 56,876 57,596 58,027 57,350 57,815 58,2111 58,2911 60,724 59,904 57,530 57,922 60,088 58,414 59,791 60,1160 59,638 59,683 59,479 60, OJS 61,396 ~b2,006 275,484l 219,998 JO 61,970 60,507 58,737 57,945 60,367 59,873 276,217 275,331 11t 28 p b2,206 62,285 60,193 60,9J8 61,230 61,165 27tt,JoJ 281,064 11 PE 64,2111 62,199 63,256 282,654 FEB. IIJ.B. J.PB. IJ.l JUII JUl. I J.UG. SBPt. OC'l. IOf. DEC. PI 259,010 260,172 265,007 l65,732 2b9,4112 272,1tl1 271, 7JII 271,567 212,lflt2 TIIO II.I.BitS .BID.IIG --1988-IOf. DEC. 1989--JJ.I. 16 P---PBEl.IIIUil PE-PI.B£1111181 ESTilllTE. 1/ 'IGUBIS B.BFLBCT J.DJUSTIEITS 108 DISCOITIJUITIES lSSOCIJ.TBD IIITH THB IIIPLBIIBITJ.TIOJ Of THB 1011Tl8f COJTaOL lCT liD 0!818 BEGUL&rO&I CH&IGIS TO MISE8fl 8JQUI&EIBITS.
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