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FEDERAU RESERVE statistical release H«& *M A &+**'' H.3(502) , , -( jt,; ^ : • > ' _ ' .-,. ! ' 1 > * For Immediate Release Table 1 ^"rig P t f i i ^ * ' * AGGREGATE RESERVES OPDEPOSITORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve requirements 1 Averages of daily figures Reserves of depository institutions tota|2 | nonborrowed I Period required millions of dollars seasonal h/ adjusted • | Monetary base^j billions of dollars JANUARY 31, 1983 Reserves of depository institutions required total2 | non borrowed | millions of dollars not seasonally adjusted Monetary base3 billions of dollars 1981—DEC. 37,988 37,351 37,666 162.7 38,662 38,025 38,342 165.8 1962—JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEPT. OCT. NOV.. DEC. 38,713 38,262 38,356 38,433 38,504 38,575 38,523 38t80H 39,566 39,875 40,458 40,897 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 41,578 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 41,072 165.3 162.9 163.3 165.6 167.1 168.2 170.0 170.4 171.4 172.9 175.1 178.4 1 8 15 22 29 41,035 40,390 40,681 40,961 41,349 40,413 39,953 39,978 40,415 40,750 40,539 40,076 40,127 40,731 40,560 174.6 173.9 174.7 175.4 176.0 41,332 40,383 41,505 41,788 42,354 40,710 39,946 40,802 41,242 41,755 40,836 40,069 40,951 41,558 41,565 175.8 176.6 178.0 179.2 180.1 5 12 P 19 P 26 P 41,550 40,339 41,457 40,352 39,912 40,990 40,606 40,557 39,923 40,784 40,381 177.2 175.9 177.3 177.1 42,689 41,718 43,609 42,029 41,491 41,291 43,142 41,701 41,696 41,302 42,936 41,476 WEEK ENDING: 1982—DEC. 1983—JAii. 1/ 2/ 3/ I 40,934 | [ ! 179.6 178.0 178.7 175.9 RESERVE AGGREGATES INCLODE REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND CTHER DEPOSITORY INSTITUTIONS. DISCONTINUITIES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT, THE INCIUSION OF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES IN REGULATION D HAVE BEEN REMOVED. BEGINNING WITH THE WEEK ENDED DECEMBER 23, 1981, RESERVES AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF RESEEVAELE LIABILITIES TO INTERNATIONAL BANKING FACILITIES (IBFS). 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 $10 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 CASE 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. 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 Monetary base3 millions of dollars 1981 — D E C . 41,924 41,287 41,604 169.7 1982—JAN. FEB. NAB. APB. NAY JUNE JULY AUG. SEPT. OCT. NOV. DEC, 43,203 41,286 39,235 39,557 39,550 39,565 39,967 40,178 39,962 40,587 41,199 41,859 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 39,19* 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 WEEK E N D I N G : 1/ 2/ 3/ 1982—DEC. 1 8 15 22 29 41,851 40,926 42,060 42,277 42,032 41,229 40,489 41,357 41,731 41,433 41,355 40,612 41,506 42,047 41,243 176.8 177.6 179.1 18f>.2 180.5 1983—JAN. 5 12 P 19 P 26 P 42,353 41,398 43,174 41,594 41,155 40,971 42,707 41*266 41,360 40,982 42,501 41,041 180.1 178.5 179.1 176.3 BESEBVES OF DEPOSITOBY INSTITUTIONS SEEIES BEFLECT ACTUAL BESEBVE BEQUIBEMENT PEBCENTAGES HITH NO ADJUSTMENTS TO ELIMINATE THE EFFECT OF CHANGES IN BEGULATION D, INCLUDING CHANGES ASSOCIATED HITH THE IMPLEMENTATION OF THE MONETABY CONTBOL ACT. INCLUDES BEQUIBED BESEBVES OF MEMBEB BANKS AND EDGE ACT COBPOBATIONS AND, BEGINNING NOVEMBEB 13, 1980, OTHEB DEPOSITORY INSTITUTIONS. UNDEB THE TBANSITIONAX PHASE-IN PBCGBAM OF THE MONETABY CONTBOL ACT Of 1980 AND PBOVISIONS OF THE DEPOSITOBY INSTITUTIONS ACT OF 1982, THE NET CHANGES IN BEQUIBED BESEBVES OF DEPOSITOBY INSTITUTIONS HAVE BEEN AS FOLLOWS: EFFECTIVE NOVEMBEB 13, 1980, A BEDUCIION OF $2,9 BILLION; FEBBUABY 12, 1981, AN INCBEASE OF $245 MILLION; AUGUST 13, 1981, AN INCBEASE OF $245 MILLION; MABCH 12, 1981, AN INCBEASE OF $75 MILLION; MAY 14, 1981, AN INCBEASE OF $245 MILLION; AN INCBEASE OF $230 MILLION; SEPTEMBEB 3, 1981, A BEDUCIION OF $1.1 BILLION; NOVEMBEB 12, 1981, AN INCBEASE OF $210 MILLION; JANUABY 14, 1982, A SEDUCTION OF $60 MILLION; FEBBUABY 11, 1982 AN INCBEASE OF $17Q MILLION; MABCH 4, 1982, AN ESTIMATED BEDUCTION OF $2.0 BILLION; MAY 13, 1982, AN ESTIMATED INCBEASE OF $150 MILLION; AUGUST 12, 1982, AN ESTIMATED INCBEASE OF $140 MILLION; SEPTEMBEB 2, 1982, AN ESTIMATED BEDUCTION OF $1.2 BILLION, OCTOBEB 28, 1982, AN ESTIMATED BEDUCTION OF $100 MILLION; AND DECEMBEB 23t 1982, AN ESTIMATED BEDUCTION OF $800 MILLION- BEGINNING HITH THE MEEK ENDED DECEMBEB 23, 1981, BESEBVE AGGBEGATES HAVE EEEN REDUCED BY SHIFTS OF BESEBVABIE LIABILITIES TO INTEBNATIONAL BANKING FACILITIES (IBFS). ON THE BASIS OF BEPOBTS OF LIABILITIES TBANSFEBBED TO IBFS BY U.S. COMMEBCIAL BANKS AND U.S. AGENCIES AND BLANCHES OF FOBEIGN BANKS, IT IS ESTIMATED THAT BEQUIBED BESEVES HEBE LOHEBED ON AVEBAGE BY $60 TO $90 MILLION IN DECEMBEB 1981 AND $180 TO $230 IN JANUABY 1982, MOSTLY BEFLECTING A BEDUCTION IN BESEBVABLE EUBOCUBBENCI 1BANSACTICNS. BESEBVE BALANCES HITH FEDEBAL BESEBVE BANKS (HHICH EXCLUDED BEQUIBED CLEABING BALANCES) PLUS VAULT CASH AT INSTITUTIONS HITH BEQUIBED BESEBVE BALANCES PLUS VAULT CASH EQUAL TO BEQUIBED BESEBVES AT OTHEB INSTITUTIONS. INCLUDES BESEBVE BALANCES AND BEQUIBED CLEABING BALANCES AT FEDEBAL BESEBVE BANKS IN THE CUBBENT HEEK PLUS VAULT CASH HELD THO HEEKS EABIIEB USED TO SATISFY BESEBVE BEQUIBEMENTS AT ALL DEPOSITOBY INSTITUTIONS PLUS CUBBENCY OUTSIDE THE U.S. TBEASUBY, FEDEBAL BESEBVE BANKS, THE VAULTS OF DEPOSITOBY INSTITUTIONS, AND SUBPLUS VAULT CASH AT DEPOSITCBY INSTITUTIONS.
@FedFRASER