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FEDERAL RESERVE* statistical release H.3 (502) For Immediate Release Table 1 JAB. 3 0 , AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve requirements 1 Averages of daily figures Reserves of depository institutions Period required tpta!2 | nonborrowed I millions of dollars seasonallyf adjusted 36,23* 1982—DEC ! 35,634 36,100 36,803 37,153 37,129 , 37,612 1983—JAB. FEEL BAB* APR. BAT JOBE JOLT A0&. SEPT. OCT* NOV,. DEC 37,800 37,694 37,717 37,624 37,408 37,590 I I 1 r - Monetary base3 billions of dollars Reserves of depository institutions totaiz ! nonborrowed ' required millions of dollars not seasonally adjusted 1984 Monetary base3 billions of dollars 35,597 35,731 171.1 36,962 36,328 36,462 174.4 35,104 35,517 36,011 36,144 36,177 35,976 36,347 36,148 36,276 36,781 36,503 36,816 35,086 35,664 36,370 36,677 36,680 37,132 37,293 37,247 37,220 37,120 36,879 37,029 171.9 173.8 176.1 177-3 178.8 180.3 181.1 18211 183.4 184.6 185.5 186.5 37,611 35,973 36,056 36,911 36,637 36,787 37,341 37,064 37,386 37,680 37,694 38,369 37,082 35,390 35,264 35,902 35,685 35,151 35,888 35,518 35,946 36,836 36,789 37,595 37,063 35,537 35,623 36,435 36,188 36,306 36,833 36,618 36,889 37,175 37,165 37,808 173.2 171.8 173.6 176.3 177.8 179.6 181.7 181.8 182.9 184.4 186.7 190.0 37,137 36,696 36,923 36,621 37,070 36,838 37,332 36,938 185.8 186.1 186.8 186.6 3T,648 37,903 38,952 38,463 37,210 37,274 37*898 37,710 37,143 37,416 38,307 38*027 188.3 189.1 190.8 191.2 36,550 36,719 36,711 37,011 36,883 36,646 36,885 36,880 188.4 183.8 188.9 183.6 39,553 38,981 40,660 39,898 38,262 38,418 39,876 39*393 38,595 i 38,345 40,050 39,262 191-6 191.2 191.4 188.7 | MEEK EBDIHG: 1983—DEO, 1984—JAB. 1/ 2/ 3/ 7 14 21 28 4 11 P 18 P 25 P 37,575 1 37,325 I 37,977 1 37,374 37,841 37,282 37,495 37,516 i BESEBFB AGGREGATES IBCL0DS BEQ0IBED BESBBYBS OF flEBBSB BABKS ABO EDGE ACT COBPOEATXOBS ABD OTBEB DEPOSITORY XBSTXT9TXOBS. DXSCOBTXB0XTXES ASSOCIATED BITB TBE IBPLBHBBTATIOB OF TBE BOSSTASY COBYBOL ACT, THE IBCXOSIOI OF EDGE ACT COBPOBATXOB BBSBBYES, ABD OTBBB CBAB6ES IB BE60LATI0B D BAVE BIBB REMOVED. BBSBBfE BALABCBS BITB FEDERAL BBSEB?B BABKS |BBXCB EXCLUDE BBQOIBBD CLBABXSS BALABCBS) PLUS VAULT CASB AT IISTIT0TIOBS BITB BBQOIBBD BESEB?B BALABCBS FLOS fAOLT CASB EQ0AL TO BEQ0IBED BESEBFBS AT OTBEB IBSTIT0TIOBS. CONSISTS OF BBSBBFE BALABCBS ABD SERVICE-RELATED BALABCBS ABD ADJOSTBEBTS AT FEDEBAL BESEBfB BABKS IB TBI COBBEBT BBBS PL0S fAOLT CASB BBLD TWO BEBKS BABLIBB BSBD TO SATISFY BESEBfB BEQOIBBflEBTS AT ALL DEPOSITOR? IBSTITOTIOKS PLUS COBBEBCT OUTSIDE TBB O.S. TBBASOBY, FEDEBAL BBSBBfE BABKS, ABD TBE fAOLTS OF DEPOSITORY IBSTXTOTXOBS, PLOS SOBPLOS FAULT CASB AT DEPOSITORY IBSTITOTXOBS. •OTE: HISTORICAL DATA ABB AVAILABLE FBOB TBE BABKXB6 SECTICE, DlfXSIOB OF RESEARCH ABD STATISTICS, BOARD OF GOVERNORS OF TBB FEDERAL RESERVE SYSTBfl, BASBIB6T0B, D.C 20551. H£ 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 Monetary base3 billions of doited millions of dollars I. 1982—DEC. 41,853 41,219 41,353 179.3 1983—JAB, FEB. BAB. APB. BAT JUBE JOLT AOC SEPT. OCT. NOV. DEC 41,864 39,798 38,035 38,650 38,282 38,415 38,948 38,661 37,916 38,138 38,144 38,894 41,334 39,215 37,243 37,640 37,330 36,779 37,495 37,115 36,475 37,294 37,239 38,120 41,316 39,362 37,602 38,174 37,833 37,934 38,440 38,214 37,418 37,633 37,615 38,333 177.9 176.0 175.9 178.4 179*8 181.6 183.7 183.8 183.5 184.9 187.2 190.6 BEEK EBDIBG: 1983—DEC 7 14 21 28 38,176 38,441 39,421 39,003 37,738 37,812 38,367 38,250 37,671 37,954 38,776 38,567 188.8 189.7 191.3 191.7 1984—JAB. 4 11 P 18 P 25 P 40,140 39,626 41,219 40,308 38,849 39,063 40,435 39,803 39,182 38,990 40,609 39,672 192.2 191.8 191.9 189.1 1/ BBSEBfES OF DEPOSITOBI IBSTITOTIOBS SEBIES BEFLBCT ACT0A1 BESEBVB BEQ0IBEHEBT PERCEBTAGES BITB BO ADJUSTBESTS TO ELIBIBATE TBE EFFECT OF CBABGES IB BEGOLATIOB D, IBCLODIBG CBABGES ASSOCIATED BITB TBE IBPLBBEBTATIOB OF TBE BOBETABI COBTBOL ACT. IBCL0DBS BBQ0TBED BESBRVES OF HEBBEB BABKS AND EDGE ACT CORPORATIOHS ABD, BEGIBBIBG BOTEBBEB 13, 1980, OTBEB DEPOSITOBI IBSTITOTIOBS. OHDEB TBB TBABSITIOBAL PBASB-IB PROGRAB OF TBB BOBETABI COBTBOL ACT OF 1980 ABD PROVISIOES OF TBB DEPOSITOBI IBSTITOTIOBS ACT OF 1982, TBE BET CBABGES IB REQOIBED BESBRVES OF DEPOSITOBI IBSTITOTIOBS BAVB BEEB AS FOLLOWS: EFFECTIVE BOTEBBEB 13, 1980, A BEDOCTIOB OF $2.9 BILLIOB; FEBROART 12, 1981, AB IBCBBASE OF $245 BILLIOB; BABCB 12, 1981, AB IBCBEASE Or $75 BILLIOB; HAI 14, 1981, AB IBCBEASE OF $245 BILLIOB; SEPTEBBER 3, 1981, A REDOCTIOB OF $1.1 BILLIOB; BOVBBBEB 12, 1981, AB IBCBEASE OF $210 BILLIOB; JAWOABI 14, 1982, A BEDOCTIOB OF $60 BILLIOB; FBBBOARY 11, 1982 AB IBCBEASE OF $170 BIILIOB; BABCB 4, 1982, AB BSTIBATED BEDOCTIOB OF $2.0 BILLIOB; BAT 13, 1982, AB BSTIBATED IBCBEASE OF $150 BILLIOB; AOGOST 12, 1982, AB BSTIBATED IBCBEASE OF $140 BILLIOB; SEPTBBBEB 2, 1982, AB BSTIBATED REDOCTIOB OF $1.2 BILLIOB; OCTOBER 28, 1982, AB BSTIBATED BEDOCTIOB $100 BILLIOB; DECEBBBB 23, 1982, AB BSTIBATED REDOCTIOB OF $800 BILLIOB; BABCB 3, 1983, AB BSTIBATED REDOCTIOB OF $1.9 BILLIOB; SEPTEBBER 1, 1983, AB BSTIBATED REDOCTIOB OF $1.1 BILLIOB; ABD JABOARI 18, 1984, AB BSTIBATED REDOCTIOB OF $120 BILLIOB. BEGIBBIBG •V-Xffl TBE BEEK EBDED DECEBBBR 23, 1981, RESERVE AGGREGATES BATE BEEB REDOCED BI SBIFTS OF RBSBBTABLB LIABILITIES TO IBTEBBATIOBAL BABKIBG FACILITIES (IBFS). OB TBB BASIS OF REPORTS OF LIABILITIES TBABSFBBBED TO IBFS BI 0.S. COBBBBCIAL BABES ABD AGBBCIBS ABD BBABCBBS OF FOBEIGB BABKS, IT IS BSTIBATED TBAT REQOIBED BBSEBfES BBBE LOBERED OB AVERAGE BI $60 TO $90 BILLIOB IB DECBBBEB 1981 ABD $180 TO $230 BILLIOB IB JABOABT 1982, BOSTLI BBFLECTIBG A REDOCTIOB IB BBSEBVABLE EOROCOBBEBCI TBABSACTIOBS. BEGIBBIBG BITB TBE BBBK EBDIBG APRIL 20, 1983, BBQOIBBD RESERVES BERB REDOCED AB ESTCBATED $80 BILLIOB AS A BBSOLT OF TBE ELIBIBATIOB OF BBSBRfB BEQOIBEBEBTS OB EOSPBRSOSAL TIBB DEPOSITS BITB flATOBITIBS OF 2-1/2 IBABS TO 3-1/2 TEABS. BEGIBBIBG BITB TBB BEEK EBDIBG OCTOBER 26, 1983, REQOIBED BBSEBfES BERB BEDOCBD AB BSTIBATED $90 BILLIOB AS A BBSOLT OF TBE ELIBIBATIOB OF BESBBFE BEQOIBEBEBTS OB BOBPEBSOBAL TIBB DEPOSITS BITB BATOBITIBS OF 1-1/2 TEABS TO 2-1/2 YBABS. 2/ RESERVE BALABCES BITB FEDERAL BBSBRfB BABKS (BBICB EICLODED BBQOIBBD CLBARIBG BALABCES) PLOS VAULT CASH AT IBSTITOTIOBS BITB BBQOIBBD BESEBFB BALABCBS PLOS flOLT CASB BQOAL TO REQOIBED RBSEBfES AT OTB1B IBSTITOTIOBS. 3/ COBSISTS OF BBSBRfB BALABCES ABD SBBTICB-BBLATBD BALABCBS ABD ADJOSTBEBTS AT FBDBBAL BBSBRfB BABKS IB TBE COMMIT BBBK PLOS f AOLT CASB BBLD TBO BBBKS EARLIER OSBD TO SATISFY RESBBTB BEQOIBEBEBTS AT ALL DBPOSITOBI IBSTITOTIOBS PLOS COBBBBCI OOTSIDB TBB O.S. THEASORI, FBDBBAL BBSBRfB BABKS, ABD TBB fAOLTS OF DEPOSITORY IBSTITOTIOBS, PLOS SORPLOS VAULT CASB AT DEPOSITOBI IBSTITOTIOBS.