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s\— FSSERAL RESERVE statistical release For RdMM at 4:30 East«m Tim* JUL! RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Rssowos of depository InstRuttons nonboffowod ftoobonowM plus I rtqutrtd Monetary bass9 1 1986 Borrowings of depository institutions from ths Fsdorsl Rsssrvs, NSA total I seasonal 1 axtsndsd credit' 1*205 151 665 1,107 167 507 221 570 1,073 1,289 203 656 1,187 172 629 1,741 107 530 1,318 56 499 19B5—JUBB JOLT AUG. SEPT. OCT. BOf. DEC. •2,669 43,083 43,654 43,882 44,244 44,84? 45,612 41,464 41,976 42,581 42,593 43,056 43,106 44,294 . 42,129 42,483 43,151 43,249 43,685 43,637 44,793 41,764 42,227 42,626 43,216 43,491 43,919 44,554 txesss N8A4 905 855 827 666 753 928 1,058 1986— JAB. FEB. BAB. APR. BAT JOBB P 45,881 46,370 46,865 47,275 48,577 49,468 45,111 45,486 46,104. 46,383 47,701 48,665 45,608 45,978 46,622 47,017 48,285 49,196 44,771 45,272 45,968 46,474 47,739 48,516 1,111 1,097 896 801 838 952 218,404 219,788 221,262 222,359 224,903 226,650 770 884 761 893 876 803 36 56 68 73 94 108 497 492 518 634 584 531 49,197 49,219 48,326 48,501 48,892 49,026 48,184 48,596 1,014 623 226,077 226,395 871 719 101 102 566 526 49,850 66*971 49,496 48,533 1,31? 227,140 879 119 525 lot«*» OR* AW#Afl#4sMl BMiBMRllB^ 1 10, I 207,932 209,105 211,208 212,289 213,566 215,253 216,721 | TOO BBBXS BBDIBG 1986-JORE JOLT P 1/ 2/ 3/ V 5/ 4 18 P 2 PB I PRBJLXfllBABT PE~PBBLXHIBABY ESTIMATE BBSKBIBS ABD BORBTABT BASE PXGOBBS XBCOBPOBATE ADJUSTBBRTS POB OXSCOBTIBOITIBS ASSOCIATED MXTU TUB 1 HP LBflB HT AT 1 0 H OP TUB BOBBTABI COBTBOL ACT ABD OTBEl BBGULATOBI CBABGKS TO BBSEB7B BBQOIBBBEBTS. TO ADJOST POB OXSCOBTIBOITIBS DOE TO CHANGES IR BBSBBfB BBQOIKBBBBTS OB BBSBBVABLE BOBDBPOSIT LIABILITIES, TUB SOB OP SOCB REQUIRED RBSEB7ES ABE SO0TBACTED PBOfl THE ACTUAL SERIES. SIHILABLY, I B ADJOSTIHG POB DISCORTIBUITIBS I B THE BOBBTABI BASE, REQUIRED CLEARIRG BALANCES ARD ADJUSTHERTS TO COBPBBSATB POB PLOAT ALSO ABB SUBTRACTED PBOB TUB ACTUAL SBBIBS. TOTAL RESERVES ROT ADJUSTED POB DISCORTIROITIBS CONSISTS OP BBSBBfB BALABCES HITU PEDERAL UBSXB1B BARKS (HHICH EXCLUDE BBgUIBBD CLBABXBG BALABCBS ABD ADJOSTRBRTS TO COBPBBSATB POB PLOAT) PLOS fAOLT CASH OSED TO SATISPI BHSBB1B REQUIREMENTS. SOCB fAOLT CASH COBSISTS OP ALL fAOLT CASH UBLD DUBIRG TBB LAGGED COBPUTATIOB PEBIOD BT INSTITUTIONS UAVIRG R£QUIR£D RESERVE BALABCBS AT P8DBBAL BBSBBfB BABKS PLOS TBB ABOORT OP VAULT CASH EQUAL TO BEQUIBBD RESERVES DUBIRG THE MAINTENANCE PEBIOD AT IRSTITOTIORS BAVIBG BO BBQUIRED BBSBBfB BALABCBS. BXTSHDBO CBBDIT COBSISTS OP BORRORIRG AT TUB DISCOOBT RIHDOH ORDBB THE XEBBS ARD CONDITIONS ESTABLISHED POR THE EXTBRDED CBBDXT PROGRAfl TO HELP DBPOSXTOBI IBSTITOTIOBS DEAL RITB SOSTAIRBD LIQUIDITY PRBSSOBBS. BECAUSE THEBE I S ROT THE SAHE MEED TO BBPAX SOCB BORRORIRG PROHPTLI AS THERE I S BITU TRADITXORAL SHORT-TERR ADJOSTBBRT CBBDXT, TAB HORBI BARKBT IBPACT OP EXTENDED CBBDIT I S SXBXLAB TO TBAT OP BORBOBBOBBD BESEBfBS. BBSBBFB BALABCBS BXTB EBBBBAL BBSBBfB BARKS BLUS VAULT CASH USED TO SATISPT BBSBBfB BBQUIBBHBNTS LESS REQUIRED RESERVES, £ ! g J 5 ! ! ! J i ? 2 . B ! ! E ! ° T i W 0 S * M * 0 B WCOHTIHUITIBS CORSISIS OP TOTAL BESEBfES PLUS BBQUIBED CLEARIRG BALARCES ARD ADJUSTHBNTS £ ! . » £ £ £ 2 t T L K L F £ 2 S L i S FBDBBAL RESERVE BANKS PLOS THE CUBBBBCT COBPORBBT OP TBE BOBBY STOCK LESS THE ABOUBT OF VAULT CASH n 2 ™ « ™ 2 S . I ? ! £ # I . f f S T 1 T , , , I 0 , , S T B 1 T 1 S **CLBBBB " ™ CUBBBNCY COMPONENT OP THE HORBI STOCK PLUS, POB IRSTITUTIORS ROT HAVIRG ? ! S ! ? 5 L f ! P I 5 - B ^ A I , C , S # ™ B X C B S S 0 F CURBERT fAOLT CASH OVBB THE ABOUBT APPLIED TO SATISPI CUBBERT HESEBVE BEQUIREHERTS. fll C i,# COagII,CT D fAULT C il™£ S**i! ??? !i2L2f-£ *» * S « "GORES ARE B E A S U R E D OVER THE HOBDAY-BEDIHG COHPUTATIOR PERIOD. II 2JL2L2!' ^ £?*!°" aM,s °* THE B O " E T A « * * S E OTHER THAN EXCESS RESERVES ARE SEASORALLI ADJUSTED AS A RHOLE, RATHER THAN K«S?52 J!*!-?" 0 " C B S S l 8 S M f M I S A 0 0 B I ) °* * « ° * SEASORALLI ADJUSTED BASIS. AFTER C*R, THE SEASONALLY ADJUSTED SERIES tt£SEIIf|tii S J J J J S H . S ' . J f S S S ^ i L ! ^ 0 8 ™ T0TAL < M M I C a 1«CL0DBS EXCESS BESERVES OR A ROT SEASONALLY ADJUSTED BASIS) PLUS THE I IIJ,SfW C O t l l B C I -«•• S?2SS:»I.f COBPORBBT OF TBE BONEX STOCK PLUS THE REMAINING ITERS SEASONALLY ADJUSTED AS A WHOLE. » 2 n 5 i . ? S l ^ i ^ ^ I i * * * A f 4 I L * B I ' * F R 0 H T f l E BANKING SECTION, DIVISION OF RESEARCH ARD STATISTICS, HOARD OF GOVERNORS OF THE x EDS HA J. HIS SERVE SISTEB, HASUIBGTOB, D . C . 2 0 5 5 1 H.3 (502) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Not adjusted for changes in reserve requirements^' Averages of daily figures, pot seasonally adjusted Millions of dollars Vault cash4 Reserves of depository institutions Monetary base* Date total nonborrowed Reserve balances, with F.R. Banks3/? required total used to satisfy required reserves5 Net carryover of excess or deficit in reserve balance*' surplus6. jR 42,352 42,803 42,963 44,447 45,469 46,382 48,142 1985—JOHE JUL! AUG. SEPT. OCT. HO?. DEC 48,060 46,652 47,274 48,882 48,419 49,962 1286—-JAB. FEB. BAB. APR. HAI JURE P 41,147 41,696 41,890 43,158 44,282 44,641 46,824 47,289 45,768 46,513 47,989 47,543 49,159 41,447 41,948 42,135 43,782 44,716 45,454 47,085 209,970 212,269 213,156 214,501 216,192 218,962 223,534 23,367 23,503 23,415 24,972 25,431 26,385 27,620 22,180 22,530 22,839 22,465 22,724 22,457 22,956 18,985 19,300 19,548 19,475 20,038 19,997 20,522 3,196 3,230 3,291 2,990 2,686 2,460 2,434 46,949 45,555 46,378 48,081 47,581 49,010 221,588 219,568 221,703 224,879 226,117 229,696 26,373 24,700 27,114 28,892 28,279 29,526 24,245 24,962 22,688 22,231 22,474 22,805 21,687 21,952 20,160 19,990 20,140 20,437 2,559 3,010 2,528 2,241 2,334 2,368 JULI " i i"1'/ 2 PE 48,613 50,250 47,742 49,532 47,600 49,628 226,959 230,526 28,568 30,145 22,422 22,250 20,045 20,105 2,377 2,145 50,076 49,197 48,760 229,639 29,122 23,580 20,954 2,626 ••'ill 'i ' 1 i " £»• h P—PBELIHIBARI PB—PBELIA1BARI ESTIMATE. 1/ REFLECTS ACTUAL BESEBYE REQOIBBBERTS, INCLUDING THOSE OR RORDEPOSIT LIABILITIES, RITH RO ADJUSTBERTS TO BLIBIRATE THE EFFECTS OF DISCORTIRUITIES ASSOCIATED H U B IBPLEBBRTATIOR OF THE BONETARI CORTBOL ACT OB OTHER BEGULATOBI CBARGES TO BESEBYE RJSQUI BE BERTS. 2/ CORSISTS OF TOTAL RESERVES PLUS REQUIRED CLEAMIRG BALAHCES ARO ADJUSTBERTS TO COBPBRSATE FOB FLOAT AT FBDEBAL BESEBYE BARKS PLUS THE CURRERCI COHPORERT OF TBE BOREI STOCK LESS THE AHOURT OF YAULT CASH HOLDIRGS OF THRIFT IRSTITOTIORS TBAT IS IHCLUDED XR THE CURBERCT COHPORERT OF THE BOREX STOCK PLUS, FOR IRSTITOTIORS ROT HAYIRG REQUIRED RBSERYB BALARCES, TBB EXCESS OF CURBBRT YAULT CASE OYER TBE AflOUNT APPLIED TO SATISFY CUBRERT RESERVE HEQOIREHBRTS. AFTER THE IHTRODUCTIOH OF CBR, CURRERCI ARD YAULT CASH FIGURES ARE BEASURED OYER THE HORDAI-BNDIRG COAPOTATIOH PERIOD. 3/ EXCLUDES REQUIRED CLEARIRG BALAHCES ARD ADJUSTBERTS TO COBPBRSATE FOR FLOAT. 1/ DATES REFER TO THE BAIRTERARCE PERIODS IN WHICH THE YAULT CASH CAR BE OSED TO SATISFY RESERVE REQUIREHEHTS. URDBR CONTEBPORAHEOUS RESERVE RRQUIRRBEHTS, BAIRTERARCE PERIODS END 30 DAIS AFTER THE LAGGED COHPUTATIOH PERIODS IR WHICH THE BALARCES ARE HELD. 5/ EQUAL TO ALL VAOLT CASH HELD DORIRG THE LAGGED COHPUTATIOH PERIOD BI IRSTITUTIORS HAYIRG REQUIRED RESERVE BALARCES AT FEDERAL RESERVE BARKS PLUS THE AHOURT OF YAULT CASH EQUAL TO REQUIRED RESERVES DURIRG THE BAIRTERARCE PERIOD AT INSTITUTIONS HAVING RO REQUIRED RESERVE BALANCES. 6/ TOTAL VAULT CASH AT INSTITUTIONS HAVING NO REQUIRED RBSERYB BALARCES LESS TBE ABOUNT OF VAULT CASH EQUAL TO THEIR REQUIRED RESERVES DURING THE HAIRTENANCE PERIOD. 7/ CORSISTS OF CA*fcYOVEH ONLI AT DEPOSITOBI INSTITUTIONS MAINTAINING RESERVES OR THE BASIS OF TWO-WEEK HAINTENANCE PERIODS. REFLECTS EXCESS (•) OR DEFICIT (-) RESERVES ELIGIBLE TO BE CARRIED FORWARD INTO THE TWO-REEK RESERVE HAINTENANCE PERIOD EHUIHG ON THE DATE SHOWN. ' ' s.ti L 4 18 P ** n. 1 TBO REEKS ERDIBG 1986—JURE : , *« » ' ! ^ «""""' 23 121 2 : ! H.3 (502) Table 3 AGGREGATE RESERVES OF 1DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjusted for changes in reserve requirements Averages of daily figures, not seasonally adjusted Millions of dollars Date total Reserves of depository institutions nonborrowed Monetary base required 1985—J01S JOLT AOG. SBPT* OCT* MO?. DSC. 42,444 42,896 43,069 43,676 44,207 45,082 46,839 41,239 41,789 41,996 42,388 • 43,020 43,341, 45,520- 41,539 42,040 42,241 43,011 43,454 44,154 45,781 208,292 210,555 211,514 212,157 213,357 216,038 220,362 1935—jIH. FEB. HAfi. APR. HAI JUflB P 47,113 45,684 46,338 47,936 47,712 49,221 46,342 44,800 45,578 47,044. 46,836 48,418 46,002 44,587 45,442 47,135 46,874 48,2(9 218,741 216,784 218,985 222,134 223,608 227,057 47,853 49,556 46,982 48,837 46,839 48,933 224,323 227,962 49,288 48,409 47,971 226,911 TVO SESKS JBMDIMG 1986—JOIB JOLI V 4 18 P 2 PS PBBLIHIBABI 1/ FIGOBBS BBFLBCT ADJOSTBBMTS FOB DISCOBIIROItiaS ASSOCIATED ilTH TUB IHPtBMBIIATIOl OF THB MOMMAS* COMXBOJ. ACT AID OXUBB BEGOLAtOBI CBAH6BS TO BBSBBfB BBQOIBBBBBTS.
@FedFRASER