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FEDERAL RESERVE statistical release , w __ \& H.3 (502) * *^ ^ '•?f^m: 3 ft5 For Immediate Release Table 1 AGGREGATE RESERVES OF Dj JAKOAEY 1 7 , ORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve requireme|?l Averages of daily figures i'vk . ' Reserves ofrjepository institutions Period tota|2 non borrowed required millions of dollars seasonal h/ adjusted Monetary base3 billionsof dollars Reserves of depository institutions total2 non borrowed required millions of dollars not seasonally adjusted 1983 Monetary base3 billions of dollars 1981—DEC. 37,988 37,351 37,668 162.7 38,662 38,025 38,342 165.8 1982—JAN. FEB. MAR. APR. MAY JUNE JUL* AUG. SEPT. OCT. NOV. DEC. P 38,713 38,262 38,356 38,433 38,504 38,575 38,523 38,804 39,566 39,875 40,458 40,919 37,195 36<472 36,801 36,865 37,387 37,370 37,832 38,289 38,632 39,398 39,837 40,284 38,295 37,958 37,994 38,160 38,145 38,266 38,210 38,492 39,182 39,471 40,056 40,391 164.3 164.7 165.2 166.5 167.7 168.8 169.2 170.1 171.9 172.8 173.7 175.1 40,036 38,052 37,799 38,330 38,189 38,069 38,434 38,512 39,353 39,997 40,679 41,599 38,519 36,262 36,244 36,762 37,071 36,864 37,743 37,996 38,420 39,519 40,058 40,965 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 1 65.6 167.1 168.2 170.0 170.H 171.4 172.9 175.1 178.5 WEEK ENDING: 1982—DEC. 1 8 15 22 29 P 41,035 40,390 40,681 40,961 41,391 40,413 39,953 39,978 40,415 40,700 40,539 40,076 40,127 40,731 40,552 174.6 173.9 174.7 175.4 176.1 41,332 40,383 41,505 41,788 42,395 40,710 39,946 40,802 41,242 41,704 40,836 40,069 40,951 41,558 41,556 1 75.8 176.6 178.0 179.2 1 80.1 1983—JAN. 5 P 12 P 41,738 40,328 40,536 39,901 40,594 39,871 177.4 175.5 42,877 41,703 41,675 41,276 41,733 41,246 179.8 177.7 V 2/ V 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, ?981, RESERVES AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF RESERVABLE LIABILITIES TO INTERNATIONAL BANKING FACILITIES (IBFSy.. 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 $1C 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, FEDEBAL 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 total2 Period nonborrowed required f Monetary base3 millions of dollar 1982—JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. 41,287 41,604 169.7 43,203 41,286 39,235 39,557 39,550 39,565 39,967 40,178 39,962 40,587 41,199 41,880 41,685 39,496 37,680 37,989 38,433 38,360 39,275 39,662 39,028 40,109 40,578 41,245 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 41,924 1 9 8 t — DEC. P WEEK ENDING: 1/ 2/ 3/ 1982—DEC. 1 8 15 22 29 P 41,851 40,926 42,060 42,277 42,073 41,229 40,489 41,357 41,731 41,382 41,355 40,612 41,506 42,047 41,234 176.8 177.6 179.1 180.2 180.5 1983—JAN. 5 P 12 P 42,535 41,381 41,333 40,954 41,391 40,924 180.2 178.1 RESERVES OF DEPOSITORY INSTITUTIONS SERIES REFLECT ACTUAL RESERVE REQUIREMENT PERCENTAGES WITH ND 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, T3 E 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 MILLION; AN INCREASE OF $230 MILLION; 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; MAY 13, 1982, AN ESTIMATED INCREASE OF $150 MILLION; AUGUST 12, 1982, AN 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 REDUCTION OF $800 MILLION. BEGINNING WITH THE WEEK ENDED DECEMBER 23, 19 81, RESERVE AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF RESERVABLE LIABILITIES TO INTERNATIONAL BANKING FACILITIES (IBFS). ON THE BASIS OF REPORTS OF LIABILITIES TBANSFERRED TO IBFS BY U.S. COMMERCIAL BANKS AND U.S. AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIMATED TEAT REQUIRED RESEVES WERE LOWERED ON AVERAGE BY $60 TO $90 MILLION IN DETEMBER 1981 AND $180 TO $230 IN JANUARY 1982, MOSTLY REFLECTING A REDUCTION IN RESERVABLE EUROCURRENCY TRANSACTIONS. RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDED 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.
@FedFRASER