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FEDERAL RESERVE statistical release
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Table 1
AGGREGATE RESERVES OF
For Immediate Relea•
·'"\'
·
oadi,Sif.Y~INSTITUTIONS AND MONETARY BASE
{\V
~f;\•
Adjusted for changes in reserve requirement';T·
Averaaes of dailv fiaures
Reserves of depository mstitutions
required
total2
non borrowed
Period
millions of dollars
seasonally adjusted
1981--Nov.
DEC.
31,988
1982--JAII.
FEB.
liAR.
APR.
!lAY
JUNE
JULY
AUG.•
SEPT.
OCT.
NOV.
37 .. 615
Monetary
base~
JAN. II, 1983
Reserves ot aepos1tory mst1tut1ons
non borrowed
re u1~
millions of dollars
not seasonally adjusted
I Monetary base3
total~
lbillionsofdollars
!billions of dollars
36,952
;37 ,351
37,270
37,668
161.2
162.7
37,782
38,662
37,119
38,025
37,1138
38,3112
162.• 6
165.8
38,713
38,262
38,356
38.433
38,504
38,575
38,523
38,804
39,566
39,875
110,458
37,195
36,472
36,801
36,865
37,387
37,370
39,831
38 .. 295
37,958
37,994
38,160
38,145
38,266
38,210
38,1192
39,182
39,1171
40,056
164.3
164.7
165.2
166.5
167.7
168.8
169.2
170.1
171.9
172.8
173.8
110,036
38,052
37,799
38,330
38,189
38,069
38,434
38,512
39,353
39,997
40,679
38,519
36,262
36,244
36,762
37,071
36,864
37,743
37,996
38,420
39,519
110,058
39,618
37,7118
37,437
38,057
37,830
37,761
38,120
38,199
38,969
39,592
110,27.7
165.3
162.9
163.3
165.6
167.1
168.2
170.0
170.4
171.4
172.9
175.2
211
110,200
39,586
40,773
110.. 630
39,742
38,8611
40,031
40,163
39,658
39,244
40,375
40,306
173.5
172.7
174.1
174.0
110,708
39,765
111,019
110,678
40,250
39,043
40,277
40,211
110,166
39,423
110,621
40,3511
173.5
174.7
175.6
175. 1
1
8
15 p
22 p
29 p
41,035
40 .. 390
40,712
40,949
41,1137
110 .. 413
39,953
40,009
40,1102
40,7116
40,539
40,077
40,119
40,733
40,559
174.7
173.9
174.8
175.11
176.0
41,332
40,383
41,536
41,776
42,441
40,710
39,946
40,833
111,229
111,750
40,836
40,070
40,943
41,560
41 563
175.9
176.7
178.1
179.2
180.0
31,832
38,289
38,632
39,398
IIEEK ENDING:
----------1982-NOV.
3
10
17
DEC.
l? - PRELIIIINARY
1/ RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OF IIEIIBER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITORY
INSTITUTIONS. DISCONTINUITIES ASSOCIATED IIITH THE Illl?LEIIENTATION OF THE MONETARY CONTROL ACT, THE INCLUSION
OF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES IN REGULATION D HAVE BEEN REMOVED. BEGINNING IIITH THE
WEEK ENDED DECEMBER 23, 1981, RESERVES AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF RESERVABLE LIABILITIES TO
INTERNATIONAL BANKING FACILITIES (IBFS). ON THE BASIS OF REPORTS OF LIABILITIES TRANSFERRED TO IBFS BY U.S.
COIIIIERCIAL BANKS AND U.S. AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIIIATED THAT REQUIRED RESERVES IIERE
LOIIERED ON AVERAGE BY $10 TO $20 IIILLION IN DECEMBER 1981 AND $40 TO $70 MILLION IN JANUARY 1982.
2/ RESERVE BALANCES IIITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT
INSTITUTIONS IIITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS.
3/ INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS IN THE CURRENT IIEEK PLUS
VAULT CASH HELD TIIO IIEEKS 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 institutions 1
Period
total2
non borrowed
mquired
I
Monetary
bese3
millions of dollars
1981--NOV.
DEC.
40,948
41,924
40,285
41,287
40,604
41,604
166.3
169.7
1982--JAN.
FEB.
liAR.
APR.
BAY
JONE
JOLY
AOG.
SEPT.
OCT.
NOV.
43,203
41,286
39,235
39,557
39,55.P
39,565
39,967
40,178
39,962
40,587
41,199
41,685
39,496
37,680
37,989
38,433
38,360
39,275
39,662
39,028
40,109
40,578
42,784
40,982
38,873
39,284
39,191
39,257
39,653
39,866
39,518
40,182
40,797
169.1
166.8
165.4
167.6
169.2
170.4
172.3
172.8
112.3
173.8
176.0
WEEK ENDING:
-----------
1/
2/
3/
1982--NOV.
3
10
17
24
41,243
40,309
41,533
41,176
40,785
39,587
40,791
40,709
40,701
39,967
41,135
40,852
174.4
175.6
176.5
176.0
DEC.
1
8
15
22
29
41,851
40,925
42,091
42,263
42,112
41,229
40,488
41,388
41,716
41,421
41,355
40,612
41,498
42,047
41,234
176.8
177.6
179.1
180.2
180.4
p
p
p
RESERVES OF DEPOSITOLY INSTITUTIONS SERIES REFLECT ACTUAL RESERVE REQUIREMENT PERCENTAGES WITH NO 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 IHSTITOTIONS~ ONDER THE TRANSITIONAL PHASE-IN PRQGRAK
OF THE KONETARY CONTROL ACT OF 1980 AND PROVISIONS OF THE DEPOSITORY INSTITUTIONS ACT OF 1982, THE 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; AOGOST 13, 1981, AN INCREASE
OF $245 BILLION; KARCH 12, 1981, AN INCREASE OF $75 KILLION; MAY 14, 1981, AN INCREASE OF $245 MILLION;
AN INCREASE OF $230 KILLION; SEPTEKBER 3, 1981, A REDUCTION OF $1.1 BILLION; NOVEKBER 12, 1981, AN INCREASE
OF $210 lliLLIOB; 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; AOGOST 12, 1982, AN ESTIMATED INCREASE OF $140 KILLION; SEPTEKBER 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 DECEMB:I!R 23, 1981, RESERVE AGGREGATES HAVE BEEN
REDUCED BY SHIFTS OF RBSERVABLE LIABILITIES TO INTERNATIONAL BANKING FACILITIES (IBFS). ON THE BASIS OF
REPORTS OF LIABILITIES TRANSFERRED TO IBFS BY O.S. COKllERCIAL BANKS AND U.S. AGENCIES AND BRANCHES OF FOREIGN
BANKS, IT IS ESTIMATED THAT REQUIRED RESEVES IlEBE LOliERED ON AVERAGED BY $60 TO $90 KILLION IN DECEMBER 1981
AND $180 TO $230 IB JANUARY 1982, MOSTLY REFLECTING A REDUCTION IN RESERVABLE EOROCDRREBCY TRANSACTIONS.
RESERVE BALANCES liiTH FEDERAL RESERVE BANKS (WHICH EXCLUDED REQUIRED CLEARING BALANCES) PLOS VAULT CASH AT
INSTITUTIONS WITH REQUIRED RESERVE BALANCES ~LOS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS.
INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALABCES AT FEDERAL RESERVE BANKS IN THE CURRENT WEEK PLUS
VAULT CASH HELD TliO WEEKS EARLIER USED TO SATISFY RESERVE REQUIREftENTS AT ALL DEPOSITORY INSTITUTIONS PLUS
CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND
SURPLUS JAULT CASH AT DEPOSITORY INSTITUTIONS.
@FedFRASER