The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE statistical release
H.3(502)
Tablet
For Rslssss st 4:30 Eastern Time
JANUARY
9 , 1986
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adjusted for changes in reserve requirements1
Averages of dally figures, seasonally adjusted unless noted otherwise
Millions of dollars
Date
tota?
"
Reserves of depository institutions
nonborrowed
nonborrowed plus
required
extended credit*
I
excess
NSA4
Monetary base*
BorrdHngs of depository institutions
from the Federal Reserve, NSA
seasons!
extended credit*^
total
1984—DEC
39,081
35,895
38,499
38,229
853
1985—JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEPT.
OCT.
.NOV.
DSC
P£
39,635
40,432
40,471
40,710
41,323
42,177
42,606
43,193
43,507
43,651
44,377
45,193
38,240
39,143
38,878
39,387
39,989
40,972
41,500
42,121
42,218
42,464
42,636
43,874
39,290
39,947
39,937
40,256
40,522
41,638
42,006
42,690
42,874
43,093
43,167
44,373
38,890
39,529
39,705
39,972
40,519
41,272
41,751
42,366
42,841
42,898
43,449
44,127
45,057
44,715
42,130
43,874
42,632
44,398
45,749
44,411
44,883
199,032
3,186
113
2,604
745
903
766
738
804
905
855
827
666
753
928
1,066
200,206 !
202,049
202,945
203,562
205,355
207,658
208,831
211,154
212,384
213,456
215,255
216,960
1,395
1,289
1,593
1,323
1,334
1,205
1,107
1,073
1,289
1,187
1,74 1
1,318
62
71
88
135
165
151
167
221
203
172
107
56
1,050
803
1,059
868
534
b65
507
570
656
629
530
499
44,005
43,885
1,052
830
216,213
216,485
2,928
841
84
53
503
524
44,424
1,325
217,702
1,338
51
472
TWO WEEKS
ENDING
1985-DBC
1986-JAM,
P
1/
2/
3/
4
18 P
1 PS
PRELIMINARY
PS—PRELIMINARY ESTIHATE
RESERVES
AND MONETARY BASE FIGURES INCORPORATE ADJUSTMENTS POR DISCONTINUITIES ASSOCIATED WITH THE IHPLEMENTATION OP THE
0
X C0M TB0L A C T A N D 0 T H E B
5 "S!i?
REGULATORY CHANGES TO RESERVE REQUIREMENTS. TO ADJUST POR DISCONTINUITIES DUE TO CHANGES IN
t
«»?52* cT2r?!f?vNT?M°!J B E S E B f A B I - E NOHDEPOSIT LIABILITIES, THE SUM OP SUCH REQUIRED RESERVES ARE SUBTRACTED FROM THE ACTUAL
n n ! 5 ™ « * 5 " S A R t Y # / M A D J U S T I N G F 0 B DISCONTINUITIES IN THE MONETIRI BASE, REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO
COMPENSATE FOB FLOAT ALSO ARE SUBTRACTED FROM THE ACTUAL SERIES.
^ T wr D l!n S r £8 3^Tuo T 0 ADJl,STBD F ° R ^CONTINUITIES CONSISTS OF RESERVE BALANCES WITH FEDERAL &ESEBYE BkHiS (MHICH EXCLUDE
In uu« C L E A R I N G »^ANCKS AND ADJUSTMENTS TO COMPENSATE FOR FLOAT) PLUS VAULT CASH USED TO SATISFY RESERVE REQUIREMENTS.
!.t*L^o L L C t S U- C 0 N S l i i TSS ° F A L KL V A U L TS C A HS H afiLD D 0 TR * M G V4ULT
THE LAGGED
COMPUTATION
PERIOD
BY INSTITUTIONS
HAVING REQUIRED RESERVE
C S EUU4L
T BEQ0IBBD
RESEHVi!S
DU
» £ £ £ Bl £ s " " lI T'C09S1StS
£ NO ^lf
*"
°
""G '" " » « " " « "«<>«» «
E S LsEH ,/ B L"c"*. °'
or
5J^!S S»^S5S
BORROWING AT THE DISCOUNT WINDOW UNDER THE TERMS AND CONDITIONS ESTABLISHED FOR THE EXTENDED
lllll
s5f-2 M 2 B S 2 T 2 ? 1 L I ! 1 ! K ? J T ? 5 I * J « , I ; O T I ? I ! S D E A L W I T H S U S T A I N E D "Q«ID1TI PRESSURES. BECAUSE THERE IS NOT THE SAME NEED TO
2 " S « S ; s % 5 " S " S 5SS;"r\SSBSa!;SLS%S^^^
SHORT-TERM ADJUSTMENT CREDIT, THE MONEY MARKET IMPACT OF EXTENDED
55»BSnS,5«J"»!L"IT5 F E D0 E f i A L0 R EFi J EHR V EI S»»MS
PLUS VAULT CASH USED TO SATISFY RESERVE REQUIREMENTS LESS REQUIRED RESERVES.
5/ In
rnnllltlL
inf ^ L i ^ ™
° » C 0 N T I ^ T I £ SP L CONSISTS
OF TOTAL RESERVES PLUS REQUIRED CLEARING BALANCES AND ADJUSTMENTS
CURREMC
HOLD?2rs nJ ?«n?pT T ^ T T L T ^I ^ ! ;S* ! * !I£ R VIE CLUOJSl>
***** I N U S E™ ECUKi(£l,Cy
* COMPONENT OF THE MONEY STOCK LESS THE AMOUNT OF VAULT CASH
S E O U I ^ D 2L5S5?SifI«?5c°
52!
™
COMPONENT OF THE MONEY STUCK PLUS, FOR INSTITUTIONS NOT HAVING
H ^SL S. "
U
B
XCfcSS 0 F
S T ! JS, J I L !U C!T 1 0 N ^ ' ™
*
CURRENT VAULT CASH OVER THE AMOUNT APPLIED TO SATISFY CURRENT RESERVE REQUIREMENTS. .
£D1«D J5 nil
??
°* CRR, CURRENCY AND VAULT CASH FIGURES ARE MEASURED OVER THE MONDAY-ENDING COMPUTATION PERIOD.
HY rn*Pn«vS£' ^ n ^ M ^ c B n T S °^ T H K M 0 N E T A R * b A S E 0T«SH THAN EXCESS RESERVES ARE SEASONALLY ADJUSTED AS A -HOLE, RATHER THAN
Nb T
? ? t *!° "V"?n H f c b K H V b : i lS A D D E D ° H * N0,1 S £ A i i 0 N A L ^ ADJUSTED BASIS. AFTER CRR, THE SAASONALL* ADJUSTED SERIES
N °
S ? ^ £ M 1 I I V ifwn^n r L ^ ^ f ^ ^ J i R E S E R V E * C*"CH INCLUDES EXCESS RESERVES ON A NOT SEASONALLY ADJUSTED BASIS) PLUS THE
NOTE? 5is?^i?*f »*TI l»r J v E T f L ^ " » ^ N T ^ F ™ E M ° N E Y S T 0 C K P L U S T H E »B«*«1»6 " " S SEASONABLY ADJUSTS AS A WHOLE!
F E T Z R A L ^ S
D.T " S s i " " " " ^ ^ ^ D1VlSl°"
°* ^
^
* " S " " * * " * ' »«*«» °* .O.EHNOKS OF THE
H.3(502)
Tabic 2
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Not adjusted for changes in reserve requirements^
Averages of daify figures, not seasonally adjusted
Millions of dollars
Vault caati4
Reserves of depository Institutions
Monetary
base2!
Date
total
nonborrowed
with F.R. Banked
required
total
used to satisfy
required
reservea'j
i
aurptu**:
1984—DEC.
40,696
37,509
39,843
202,586
21,738
22,316
18,958
3,358
1985—JAN,
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
D E C PE
41,125
40,273
40,494
41,652
41,051
42,352
42,803
42,963
44,447
45,469
46,382
48,149
39,730
38,984
38,901
40,329
39,718
41,147
41,696
41,890
43,158
44,282
44,641
46,830
40,380
39,370
39,728
40,914
40,247
41,447
41,948
42,135
43,782
44,716
45,454
47,082
201,353
199,937
201,287
203,814
204,944
208,386
210,654
211,600
213,038
214,690
217,400
221.746
21,577
20,416
22,065
23,217
22,385
23,367
23,503
23,415
24,972
25,431
26,385
27,624
23,044
23,927
21,863
21/567
21,898
22,180
22,530
22,839
22,465
22,724
22,457
22,956
19,547
19,857
18,429
18,435
18,666
18,985
19,300
19,548
19,4/5
20,038
19,997
20,524
3,497
4,070
3,434
3,132
3,231
3,196
3,230
3,291
2,990
2,686
2,460
2,432
•
TWO WEEKS
ENDING
1985— DEC
1986—JAN.
4
18 P
1 PE
47,057
47,696
44,129
46,855
46,005
4b,867
218,657
22\9\\2
27,029
27,500
22,543
22,464
20,028
20,196
2,515
2,268
48,972
47,634
47,647
223,379
27,942
23,612
21,030
2,582
Nat carryovar
of exceaa or
deficit
in raaafva
balancajM
|||flfll||||l:
liiif||i||{|
tiiiijilililii
ll i
I I I |I|||||||||i
ill!
jijiijjiijiii
j Ijiiiiii sill
iifiiiliiifii illPfj
!|li|||li||il
llllli
iipplllj
19
ll
111
l l l l l S I S l l Hi
llllli
Hiilliilll
111•11
Iii
111!
P
PRELIMINARY
PE—PRELIMINARY ESTIMATE.
1/ REFLECTS ACTUAL RESERVE REQUIREMENTS, INCLUDING THOSE ON NONDEPOSIT LIABILITIES, WITH NO ADJUSTMENTS TO ELIMINATE
THE EFFECTS OF DISCONTINUITIES ASSOCIATED WITH IMPLEMENTATION OF THE MONETAE! CONTROL ACT OK OTHER REGULATOR!
CHANGES TO RESERVE REQUIREMENTS.
2/ CONSISTS OF TOTAL RESERVES PLUS REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO COMPENSATE FOR FLOAT AT FEDERAL RESERVE
BANKS PLUS THE CURRENCY COMPONENT OF THE NONE* STOCK LESS THE AMOUNT OF VAULT CASH HOLDINGS OF THRIFT INSTITUTIONS THAT
IS INCLUDED IN THE CURRENCY COHPONENT OF THE HON*:/ STOCK PLUS, FOR INSTITUTIONS NOT HAVING REQUIRED RESERVE BALANCES, THE
EXCESS OF CURRENT VAULT CASH OVER THE AMOUNT APPLIED TO SATISFY CURRENT RESERVE REQUIREMENTS. AFTER THE INTRODUCTION OF
CRR, CURRENCY AND VAULT CASH FIGURES ARE MEASURED OVER THE MONDAY-ENDING COMPUTATION PERIOD.
3/ EXCLUDES REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO COMPENSATE FOR FLOAT.
4/ DATES REFER TO THE MAINTENANCE
PERIODS IN WHICH THE VAULT CASH CAN BE USED TO SATISFY RESERVE REQUIREMENTS. UNDER
CONTEMPORANEOUS RESERVE REQUIREMENTS, MAINTENANCE PERIODS END 30 DAYS AFTER THE LAGGED COMPUTATION PERIODS
IN WHICH THE BALANCES ARE HELD.
5/ EQUAL TO ALL VAULT CASH HELD DURING THE LAGGED COMPUTATION PERIOD BY INSTITUTIONS HAVING REQUIRED RESERVE BALANCES
AT FEDERAL RESERVE BANKS PLUS THE AMOUNT OF VAULT CASH EQUAL TO REQUIRED RESERVES DURING THE MAINTENANCE PERIOD AT
INSTITUTIONS HAVING NO REQUIRED RESERVE BALANCES.
6/ TOTAL VAULT CASH AT INSTITUTIONS HAVING NO REQUIRED RESERVE BALANCES LESS THE AMOUNT OF VAULT CASH EQUAL TO THEIR
REQUIRED RESERVES DURING THE MAINTENANCE PERIOD.
7/ CONSISTS OF CARRYOVER ONLY AT DEPOSITORY INSTITUTIONS MAINTAINING RESERVES ON THE BASIS Ok TWO-WEEK MAINTENANCE
PERIODS. REFLECTS EXCESS {•) OR DEFICIT (-) RESERVES ELlGIbLrl TO Bfc CARRIED FORWARD INTO Arte TWO-WEEK HtiSEkiVV
MAINTENANCE PERIOD ENDING ON THE DATE SHOWN.
i!j||i|||
p i ! l|||
I l i l •••r-ill!
l i l jiijjjijipijj
ill!
128
74
118
H.3 (502)
Table 3
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adjusted for changes in reserve requirements1
Averages of daily figures, not seasonally adjusted
Millions of dollars
Date
total
Reserves of depository institutions
nonborrowed
I
Monetary base
required
1984—DEC-*
40,129
36,943
39,277
202,020
1 9 8 5 — J A N.
FEB.
HAH.
APR.
HAY
JUNE
JULY
AUG.
SEPT.
OCT.
MO?.
DEC PE
40,703
39,878
40,066
41,254
40,643
41,959
42,410
42,596
43,221
43,747
44,625
46,411
39,308
38,589
38,473
39,932
39,309
40,754
41,303
41,523
41,932
42,559
42,884
45,093
39,958
38,975
39,301
40,516
39,839
41,054
41,554
41,768
42,555
42,994
43,697
45,345
200,931
199,542
200,859
203,417
204,535
207,992
210,260
211,233
211,811
212,967
215,643
220,00^
45,259
45,971
42,332
45,130
44,207
45,142
216,860
219,387
47,240
45,902
45,915
221,647
TMO NEEKS
ENDING
1985—DEC.
1986—JAM.
4
18 P
1 PX
j
P
PBELIMINABY
PB—PHELIMIMABY ESTIMATE.
1/ PIGUfiES REFLECT ADJUSTMENTS FOB DISCONTINUITIES ASSOCIATED WITH THE IMPLEMENTATION OF THE MOMETABY CONTBOX. ACT
AND OTHEB BEGULATOBY CHANGES TO RESERVE BEQUI££M£NTS.
@FedFRASER