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FEDERAL RESERVE statistical release For .w- .. 4:30 EMiom Tlnle H.311011 T8111e1 JliOlii ~8, 1988 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE ollllfttlle In-~· A...... of cM1JY fltuNI, _,.ny .......... Ulllelanolld ofllerwiM Adjuelecllof - MIHIOMol...,_ Dale 1986- D&C. 1987--JU. rae. au. ua. au JOIB JUJ.I lOG. SBft. oct. lOY. D&C•• - o f _ . . . , lftatltuiiOM IIOIIboolowed •::-; ......... - 1,369 1987-uac. 1988-Jll. 2 16 30 13 27 , •• 303 311 71 91 225 283 2611 270 288 273 1911 580 556 527 9!13 1,035 716 672 647 940 9U 625 777 196 259 283 279 231 189 126 93 256,298 2S6,38J 256,897 683 815 671 102 465 65J J16 259,252 261,369 1,94~ b6 511 1185 Jl2 56,11811 56,873 56,852 57,9541 58,352 57,706 57,602 57,876 57,825 58,1196 57,987 57,1136 56,304 55,816 55,66.2 55,936 57,127 57,273 56,516 56,841 56,8114 57,03:.1 57,368 57,064 56,1108 1,~11 2113,910 916 827 1,079 1,190 761 1,032 793 1,129 923 1,028 21111,56.3 56,1185 57,5SJ 57,362 56,659 S6,5l9 56,6110 56,589 57,231 57,604 57,203 57,1:.111 57,360 57,2911 5a,oo3 57,756 57,111.Z 57,846 57,o65 57,111 57,163 56,850 5b,IIIIO 57,6:.18 57,503 56,7511 511,633 56,1159 56,305 1,213 1,.206 806 57,966 58,6!12 5o,022 58,185 56,5«17 5a,sH Sll,oll5 57,310. 1,301 1,l62 ~o,929 57,.Z~9 J8 ~112,431 541,798 56,325 511,961 57,317 56,930 NSA axtaftdld cqdlt" 827 55,643 1,0.68 ~ 239,513 55,lt0 ~6,317 -·1 hom the Federal total 56,166 no nau II DUG -------- Bonowlna• of clepoaltOfY lnatllutlone MonaletYbeM' NSA• ~116,586 2118,3U 2118,481 249,1157 250,7911 251,8541 254,352 256,079 256,702 ' 508 1~0 1111 83 132 1109 1149 3911 1183 r---RIBJ.Ialllll PB--PI&LIIlllll BSTiftlTB 1/ &BSIIfBS liD IOIBrlll BAS& riGUIBS IICOIPOilt& lDJUSTIIItS ro& DISCOitiiOI!l&S ASSOCllt&D KitH tH~ IAPJ.&I&ItlTIOI or !H& IOII!liJ COITIOL lC! liD O!HII IIGULlTOII CHliGBS tO I&S&IfB I&~UliBIIItS. tO ADJUSt roa DISCOI!IIOI!IBS DUB TO CHliGIS II IBSIIYB IIQOIIIBII!S 01 IISIIfliJ.I IOIDIPOSI! J.IlBILI!IIS, t&& SUI or SUCH IBQUII&D IBSIIfBS AlB SUBtllC!BD rKOII !HB lC!UlJ. SIIIIS. SIIILliJ.I, II lDJOS!IIG roa DISCOI!IIUlti&S 11 fBI 8011!111 BlS&, IBQUII&D CJ.BliiiG BAJ.liC&S liD lDJDSTBBI!S TO COIPBISlTB roa rLOlr lJ.SO liB SOI!IlC!BD raoa !HI lC!UlL SIIIBS. 2/ !OtlJ. IBS&If&S lOt lDJOS!ID ro& DISCOITIIOI!I~S COISISTS or I&SIIfl BlJ.liCIS KITH r&DBilJ. I&SIIf& Bli«S (IHICH KICJ.UDI IBQUIIBD CLiliiiG BlLliCIS liD ADJOSTRBITS TO CORPIJSATI FOB FLOAT) PLUS YlULT CASH USBD to Sl!ISFI RISBifB REQUIIIR&ItS. SUCH fAULt CASH COISISTS or lJ.L flDJ.T CASH HI~~ DUIIIG THI ~lGGID COIPUTlTIOI PERIOD Bl liS!lTUTIOIS HlYIIG BIQUIIBD IISIIYI BlLliC&s lt FID&IlJ. IBSIIYI BAlKS P~US TRB liUUIT or YlUL! CASH IUUlL TO IBQUiiBD IISBBVBS UUMIIG !HI RllNTillNCB PBIIOD lt IIS%ITO!IOIS BlfliG 10 IIQDIIID IBSIIY£ BlLliCBS. 3/ BitiiD&D CIBDI! COISISTS or 801101IIG l! TBB DISCOUNT ~11001 UIDBI THI TillS liD COIDITIOI£ B£TlBL1SBKU roa THE BXTIIDBD CI&DIT liOGilB tO B&J.P DIPOSI!OII IISTITOTIOIS DilL MITB SUSTliiiO LIQUIDITY PIISSOIES. BIClUSB THIIH IS lOt THI Slll IBID TO llrll SUCH 80110VIIG PBOBRTJ.I AS THERE IS 11TH TllDITIOilJ. SHOIT-T£11 lDJUSTRIIT CIIDIT, THB ROIBJ Blll~T IIPlCT 0' EITIIDED CIBUI! IS SIBILll TO THAT or IOIBOIIOMBD RIS&IfBS. II/ I&SIIII BlLliCBS WITH IBDIIlL BBSIIV& BAlKS PLUS llULT CASH USED TO SlTlSrT IBSBif& RBQUIIBBIITS LBSS RBQUIBBD BISIBYIS. 5/ tBI 1011!111 BAS& JOT lDJUSTID roa Ul£COI!l1UIT1BS COI£ISTS or TatlL IBSIBfBS PLUS IBQUIIBD CLBlllNG dlLliCBS AND lDJUST8EITS TO COIP&ISlTB POl rLOlt lT IIDIBlL I&SERfl BAllS PLUS THI CUiiBICI CORPOIBIT or THE BONBf StOCK LISS THI lBOUIT or llUJ.t CASH IOLDIIUS or TBilrt IISTI!DTIOIS Tll!t IS 11CLUD&D 11 TIIB CUII&ICI COUOIIIT or TH& ROIEI STOCK PLUS, roa 11STITUTIOIS lot HUIIG IBQUII&D I&SIIfl BlLliCIS, TBI IICISS ur CUIIBI! fAULT CASH Ofll Till lftOUIT lPPJ.liD to SlTISIJ CUBIBIT IBS&afB I&QUIIBI&ITS. 11!11 !II JlfiODOCTIOI or CRI, COII&ICJ liD YlULT CASH FIGUIIS liB lllSUIBD OY&a THE IOIDli-KIUIIG COIPU!lTIOI PIRXOD. IIIOI TO CIB, lLL COIPOIIITS or TIE ROIBTlll llSB OTH£1 Till IICBSS R&SIIYBS liB SBlSOili.LJ ADJUSTED lS l ~BOLB, llTBIB THAI Bl COIPOIIIT, liD BXCBSS IISIIfBS IS lDDID OJ l lOT SIASOilJ.LI lDJUSTID BASIS. • lrTBB CKI, fBI S&lSOili.LI ADJUSTED SBIIES COISIS!S or SllSOilLJ.I lDJUS!BD !O!ll. IISIIYBS (IH1CH IICLUD&S IXCISS IISBBfES 01 A JOT SllSOili.Lf lDJUSTBD BASIS) PLUS TBI SllSOilJ.LI lDJOSTID CUIIIICI COIPOIII! OP tHI lOIII STOCI PJ.US TBB lllliiiiG lTIIS S&lSOilJ.J.I lDJUST&D lS l IBOJ.I. lOTI: IISeOIIClJ. DlTl liB lfliJ.lBJ.I PIOI !HI 8lii11G SICfiOI, DlfiSION or IBS&liCH liD S!lTIS!lCS, SOliD or GOJIIIOIS or TBB P&D&IlJ. I&SIIfl SIS!BI, llSBIIG!OI, D.C. 20551 H.3 (502) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE - . No(~djustet1 for. changes m re~rve reqUirements, 1 Av•ages of daily ligures. nol seasonally adJusted Millions of dollars ' Monetary base' Date total nonborrowed . Vault caSh• - - - - - - - - - ---·----r----.Fieserves -of depoSitory institutions Reserve balances with F A Banks' used to satlsiy total required required reservess. surplus 1986--DEC. ~~.560 58,7JJ !>11,191 2•0,707 J7,JoO 211,071 1.1.,1'1'1 1,117:.! 1987--JAII. 5CJ,6o8 !»7,060 57,061 59,J9J SII,J39 58,7811 58,838 58,361 59,1113 b 1, 106 b 1,:.!05 61.,123 59,088 So,!»OJ 56,SJII 58,1600 !>7,JOJ 511,008 511, l bb 57,714 S8,1HJ 60,163 60,580 b1,JII6 511,600 !>!>,1149 So,lllo !>8,566 ':>7,1.60 s 7, 594 311,0711 S7,J.1.9 39,01.0 S9,977 oO,.lll2 ol,OCJS 2116,75:.! :.!1611,:.!/.0 2114,978 1.4'1,1.111 1.119, ':1110 /.52, 539 .1.!>11, 671 .1.511,360 ;.s:.,o'J 1 2511,076 /.ol,b7J J.bb, 161 36,51111 JJ, 6:.!5 J 5, J18 J 7,110 7 3ft,ll66 J6,J09 J6, 110 J5,616 3b,oll5 j 7, 2119 37,45J J7,b7J 25,0119 25,8119 :.!3,7':>9 2J,3SJ 23,6'1J 211,3110 l4,6J1 211,6119 24,860 25,5'11:> 25,1131. 26.15':> :.!J,OII4 :.!J,I6J5 J.1,74J 1.1,51l7 J.1,1l73 .1.:.!,475 '-'-· 71.8 1.:.!,71l5 lJ, l:lll JJ,857 1, 965 2,454 :.!,016 1, 767 1, 8:.!0 1, 905 1, 903 1,9011 1, 7 3:.! 1, 7 39 1,61l0 1, 706 '&B. lt.lB. lPB. lt.U JUNE JULY lUG. SEPT. OCt'. NOY. DEC. P 1.3,151. :.!ll,lll69 Net carryover ·of excess or deficit in reserve 'fiiO IIEI!KS BIDU\0 -s 1987--DBC. 2 16 JO 61,068 b.l,095 b2,160 oU,J85 61,:<81 61,489 59,1155 bU,tJ'IU o 1, 3SII 261.,1.13 265,UIH 267,628 J 1, 069 J8, 272 J 7, 055 25,11U.l 25,311. 26,960 .lJ,CJ'I9 .H,8211 1.5,1U5 1, 803 1,51l9 1,855 1112 282 1988--JU. 1J P 27 PB 1>11,113 b 1. 943 b.l,1b9 61, ll]b o.o!, 812 oO, Sill 261l, :.s 1 2611,1687 39,175 J1 ,0116 2t>,5bo 26, 5JJ .l16,9JII 21l,ll511 1,628 1,676 169 73 P--- PBBLlllllliY PB--PBBLIIIIABI BS'fiBA'fB. 1/ BBPLBC'fS AC'fUAL BBSIIYE IBQUlllftllt'S, IICLUDIIG THOSI 01 IONPIPOSIT LilBILI'fii!S, liTH 10 lOJUSTitBITS TO BLlltll&'fB 'fHI BPPECTS Ol DISCOITIIUI'fiES lSSOCIATBD IIITH IltPLIBBITlTIOI OP THB IIONBTABI CONTROL AC'f 01 O'fHII NBGOLATOII CHAIGES TO BISIBYE BEQUlBiftBITS. 2/ COISISTS or toTAL IBSBIVBS PLUS IEUUIIID CLI&WIIG BAL&ICBS liD lDJUS'fftEITS TO COBPBISATB POl fi.OlT lT PBDBilL IISIBYI BlllS PLUS 'fBI COIBII~I COIPOIBit' OP THE ftOIBI S'fOCK LESS TH~ &BOUlT OP YlUI.T CASH HOLDINGS Of 'fHBlfT lJS'fiTU'flOIS TilT IS IICLUDID 11 !HB COBBBICI COitPOIBIT OP THE BOlli STOCK PLUS, FOR INSTITUTIOHS NOT HAYING BByUIIBD I&SIIYI BAL&ICIS, 'fBI llCISS OP CUIBIJT fAUL'f CASH OYBB THB lftOUIT lPPLIBD TO SATISrt COIIIIt' RESIBYB RBUUlllftiHTS. Af'fll THI IITIODUCTIOI or ~88, CUBBBICt liD YAULT CASH liGURES liB IIElSUIBD OVII THB IIOIPli-BIDliG COBPUTATIOI PEIIOD. 31 BICLODIS IIQUIBBD CLBABJIG BlLANCBS AID ADJUSTftiiTS TO COBPEHSATB POl PLOlT. ' I PlTBS IBPII TO THI BAIITBIAJCB PERIODS II WHICH THB YlULT CASH CAl 88 USED TO SlTlSII MISJBrl IBQUIIIItiiTS. OIDBI COITIBPOIAIIOUS BBSIBYB IBQUlllftll'fS, ftAlJT~IliCI PIIIODS BID JO DAIS AlTER 'fHB LlGGBD COftPUrl'flON PERIODS II WBICH 'fHB BALAICIS All HBLD. ~~ JQU&L TO ALL YlULt' CASH HELD DUliNG THE LAGGID COftPUTlTIOI PBBIOD 81 INSTITUTIONS HAYING REQUIRED IBSIIYB BAL&ICBS AT IIDBRlL BISERYE BAlKS PLUS THE lftOUNT 01 VAULT ~lSH B~U&L TO RE~UIBED HESIHVES DURIHu THE ltAIITBNliCB PIBlOD lT INSTITUTIONS HlVIIG NO WBUUIRED RESERVE BALAN~BS. 6/ TOTAL VAULT CASH A'f lliS'flTU'l'lOIS HUIIIG NO WEwUlRED IU!SEIVI BlLAICBS LESS 1'HE AIIOUNT OP VAULT ClSH I~UlL TO TH£lR IEUUIIBD IESBBVES DUBlNb THE ll&liTENAN~E P!BlUP. 1/ COIISIS'I.; Of ClaRIOfEil OILY A'J' Dl!i'OSl"'OHY IN::iTlTUT!UNS I!AIN'l'AINING BBSEIIV E.3 ON THE BASIS Ul' 'fiiO-IIBEK ltlliTEIANC£ PERIOD$. REPLEr'J'S EICE$S (•) Ull U~YIL1T (-) k~::i~~V~S ~Ll~liiL~ TO BE CABPlED YOHIIAPV INTO THH TIID-III!I!K IIESESVE MAliiT~NANCE i'~dlOD EID!HG oN THE DATE SHOWN. H.3 (502) Table 3 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjueted tor changee In reM~Ve requirement_•' A-aoea ot dally llfulee, not aeuonelly lldjueted Wltflone of dolltR ReMI'fte of dapoeltory lnetltuttona nonborrowec:l Dele total Monetary baM required 1986--DIC. 57,636 56,809 56,267 ~U.6JO 1987-.JU. 'BB. 56, 1J 1 5o,o8a 5o,068 58,372 57,299 57,625 51,11t3 57,390 57,496 58,037 58,09.) 58,965 58,.151 55,.532 5i, 5461 51,.319 5o,261t 56,.849 57,.071 56,.743 56,.550 57,.094 57,1t68 58,.188 57,663 Sit, 811 55,.152 57,.5411 56,.221 56, US 56.983 56,.358 56,.703 56,909 57,.110 57,.937 ltt3.422 240,.811 .241,925 21t6,066 .llt6,8J1 21t9,286 :lS 1,. Mllt .251,420 251,.603 25J,28l 256,8:l1 .261,211t 57,.910 58,932 58,955 57,.227 58,.118 58,.285 56,.691 5l,71.7 58,.150 257,.270 .260, 207 262,.581 61,672 59,1tlt9 59,.727 59,.9111 o0,371 58,.087 ~S9,Ut 1111. lPI. lilY .JUIB JOLI lOG. SBPT. ocr. 101. DBC. P .. TWO IIBIIS BMDIIG ----------1987--D&c. 2 16 30 1988-.Jll. 1l p 27 PI ·---- P---Pi.BJ.IIIlllll ---- 2611,.070 ... PB--PBILLIIII~II ESTift~TB. 1/ PIGOIBS BBPLBCT ~DJOSrftBITS '08 DISCOMTIIOITIIS lSSOCllTID ilTB THB LftPLBft&ITlTIOI 0' TB& ftOI&T~If COIT80L lCT liD oraaa BBQDL~TOI! CBliG&S TO iiSBBfl BBQUIBBftBITS.
@FedFRASER