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^ ' b O U U C t FEDERAL RESERVE statistical release H.3 (502) For Immediate Release Table 1 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve requirements1 Reserves of depository institutions total2 I nonborrowed I required millions of dollars seasonal Y/ adjusted Period Monetary base3 billions of dollars JULY 11 , 1983 Reserves of depository institutions Monetary base3 required total2 I1 non borrowed 1 billions of dollars millions of dollars not seasonally adjusted 1982— JUNE JULY AUG, SE PT. OCTNOVDEC- 3 8 ,9 5 5 3 9 ,0 0 7 39 ,2 05 3 9 ,6 56 3 9 ,9 3 2 4 0 ,4 0 8 40 ,7 83 37,7 50 3 8 ,3 15 38 ,6 90 38 ,7 23 39 ,4 54 3 9 ,7 87 4 0 , J49 3 8 ,6 4 7 38 ,6 93 38 ,8 93 3 9 ,2 73 39,5 28 40 ,0 06 40,283 169.3 169.9 1170-9 172.1 173-2 174.3 175-6 38 ,164 38 ,5 3 0 38 ,609 39,356 39 ,997 40,6 79 41,560 36 ,9 6 0 37,8 38 38 ,0 93 38,423 3 9 ,5 19 40,0 58 40 ,9 2 6 3 7 ,8 56 38 ,2 16 38,296 38,9 73 3 9 ,5 92 40 ,2 77 41,0 59 168.5 170.4 170.7 171.7 173.2 175.4 178.9 1983— J A N . FEBMAR., APRMAY JUNE P 4 0 , 119 40 ,3 4 1 49 ,0 03 4 1 ,3 02 4 1 ,2 38 41,7 55 39,589 3 9,758 40,210 40 ,293 40,286 40 ,1 18 39,571 39 ,9 05 40,570 40,8 26 40 ,7 8 9 4 1 ,2 41 176.3 178.0 180.2 181.3 1 8 2- 8 1 8 4 -3 42 ,2 16 40 ,2 27 40 ,230 41,048 40 ,706 40 ,876 41,686 39 ,6 44 39,438 40 ,0 3 9 39,754 39 ,2 39 41,668 39 ,791 39,7 97 40,572 40,2 57 40 ,3 63 177.7 175.9 17 7- 7 180.3 181.7 183.5 WEEK ENDING: 1983— JUNE 1 8 15 22 P 29 P 4 1 ,5 80 41 ,4 52 41,2 75 4 2 ,2 5 4 4 1 ,9 86 40 ,4 62 40,545 39,463 40 ,539 3 9 ,8 84 4 1 , 104 4 0,828 40 ,9 25 4*1,751 41 ,4 67 183.9 18 3 -9 183.8 184.8 184.8 40,638 40,003 40,3 00 4,1,573 4 1 ,5 74 39 ,5 20 39,0 96 38,4 88 39,858 39 ,4 72 40 ,1 62 39 ,3 79 3 9 ,9 50 41,070 41,055 182.3 183.3 183.3 18 4 . 0 183.3 JULY 6 P 42 ,2 81 40 ,045 41,334 18 5. 1 41,491 39,2 55 40 ,5 44 186.7 1/ 2/ 3/ RESERVE AGGREGATES INCLUDE REQUIRED R]SSERVES OF MEMBER BANKS AND EDGE ACT CORPORAT EONS AND OT HER DEPOSITO I N S T I T U T I O N S . D I S C O N T I N U I T I E S ASSOCIATED WITH THE IHPLEMENTATION OF THE MONETARY CONTROL ACT , THE INCLUSION OF EDGE ACT CORPOBATION RESERVES, AND OTHER CHANGES I N REGULATION D HAVE BEEN REMOVEDRESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT I N S T I T U T I O N S WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER I N S T I T U T I O N S INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS I N THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS EARLIER USED TO S A T I S F Y RESERVE REQUIREMENTS AT ALL DEPOSITORY I N S T I T U T I O N S PLUS CURRENCY OUTSIDE THE U . S . TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY I N S T I T U T I O N S , AND SURPLUS VAULT CASH AT DEPOSITORY I N S T I T U T I O N S . NOTE: H I S T O R I C A L DATA ARE AV AI LA BL E FROM THE BANKING SECTION, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, WASHINGTON, D I V I S I O N OF RESEARCH AND S T A T I S T I C S , D.C 2 0 5 5 1 . 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 Period total2 nonborrowed required Monetary base3 millions o f dollars 1982— JUNE JOLT AUG. SEPTOCT. NOV. DEC. 39 ,5 65 39.967 4 0 ,1 78 39 .962 40 ,587 41,1 99 4(1,853 38 ,3 60 3 9 ,2 75 39 .6 6 2 39,0 28 4 0 ,1 09 40 ,5 7 8 41 ,2 19 39 ,2 57 39,653 39 ,866 3 9 ,5 78 4 0,182 4 0 ,7 97 41,353 170.5 172.4 17 2-8 172.4 173.8 176.0 179.3 1983— JAN. FEB. MAR. APR. HAT JUNE P 4 1 ,8 64 3 9 ,7 98 38 ,0 35 38,6 50 38,2 82 3 8 .4 5 1 41,3 34 3 9 ,2 15 37 ,2 43 3 7 .6 40 3 7,330 3 6 ,8 1 4 41 ,3 16 39 ,3 62 37,602 38 ,1 7 4 37 ,833 3 7 ,9 3 7 177.9 176.0 175.9 178.4 1 7 9- 8 1 8 1 .6 38,2 19 37,6 44 3 7 ,9 28 39 ,0 97 39 ,0 85 37,101 36 ,7 3 7 3 6 ,1 16 3 7 ,3 82 36,983 37,7 43 37,020 37.5 78 3 8,594 3 8 ,5 66 180.4 181.4 181.5 182.0 181.3 39,019 36 ,7 83 38,0 72 184-7 WEEK ENDING: 1983— JUNE 15 22 29 JOLT 1/ 2/ 3/ 6 P RESERVES OF DEP OSI TOR I I N S T I T U T I O N S SERIES REFLECT ACTOAL RESERVE REQUIREMENT PERCENTAGES WITH NO ADJUST MENTS TO ELI M IN A TE THE EFFECT OF CHANGES I N REGULATION D, INCLUDING CHANGES ASSOCIATED WITH THE IMPLEMEN TATION OF THE MONETART CONTROL ACT. INCLUDES REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND. BEGINNING NOVEMBER 13, 19 80 , OTHER DEPOSITORY I N S T I T U T I O N S . UNDER THE T R A N S I T IO N A L P H A S E -I N PROGRAM OF THE MONETARY CONTROL ACT OF 1980 AND PRO VI SI ONS OF THE DEPOSITORY I N S T I T U T I O N S ACT OF 19 82 , THE NET CHANGES I N REQUIRED RESERVES OF DEPOSITORY I N S T I T U T I O N S HAVE BEEN AS FOLLOWS: EFFECT IVE NOVEMBER 13, 1980 , A REDUCTION OF $ 2 . 9 B I L L I O N ; FEBRUARY 12, 1981, AN INCREASE OF $2 45 M I L L I O N ; MARCH 12, 19 81 , AN INCREASE OF $75 M I L L I O N ; MAY 1 4 , 19 81 . AN INCREASE OF $245 M I L L I O N ; SEPTEMBER 3 , 1981, A REDUCTION OF $ 1 . 1 B I L L I O N • NOVEMBER 12, 19 81 , AN INCREASE OF $ 2 10 M I L L I O N ; JANUARY 14, 19 82 , A REDUCTION OF $60 M I L L I O N ; FEBRUARY 1 lJ 1982 AN INCREASE OF $170 M i l L I O N ; MARCH 4 , 1982 , AN ESTIMATED REDUCTION OF $ 2 . 0 B I L L I O N ; MAY 13. 19 82 , AN ESTIMATED INCREASE OF $150 M I L L I O N ; AUGUST 12 , 19 8 2 , AN ESTIMATED INCREASE OF $1 40 M I L L I O N ; SEPTEMBER 2 , 1 9 82 , AN ESTIMATED REDUCTION OF $ 1 . 2 B I L L I O N ; OCTOBER 2 8 , 1982 , AN ESTIMATED REDUCTION $100 M I L L I O N ; DECEMBER 2 3 , 1982 , AN ESTIMATED REDUCTION OF $8 00 M I L L I O N ; AND MARCH 3 , 19 83 . AN ESTIMATED REDUCTION OF $ 1 . 9 B I L L I O N . BEGINNING WITH THE WEEK ENDED DECEMBER 2 3 , 19 81 . RESERVE AGGREGATES HAVE BEEN REDUCED BY SH IF TS OF RESERVABLE L I A B I L I T I E S TO INTERNATIONAL BANKING F A C I L I T I E S ( I B F S ) . ON THE BAS IS OF REPORTS OF L I A B I L I T I E S TRANSFERRED TO I B F S BY U . S . COMMERCIAL BANKS AND AND AGENCIES AND BRANCHES OF FOREIGN BANKS, I T I S ESTIMATED THAT REQUIRED RESERVES WERE LOWERED ON AVERAGE BY $60 TO $90 MI LL IO N I N DECEMBER 1981 AND $1 80 TO $230 MIL LI O N I N JANUARY 1 9 8 2 . MOSTLY REFLECTING A REDUCTION I N RESERVABLE EUROCURRENCY TR ANSACTIONS. ALSO, BEGINNING WITH THE WEEK ENDING A P R I L 2 0 , 19 83 , REQUIRED RESERVES WERE REDUCED AN ESTIMATED $8 0 MIL LI ON AS A RESULT OF THE E L I M IN A T I O N OF RESERVE REQUIREMENTS ON NONPERSONAL TIME DEPOSITS WITH MATURITIES OF 2 - 1 / 2 YEARS OR MORE TO LESS THAN 3 - 1 / 2 YEARS. RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDED REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT I N S T I T U T I O N S WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER I N S T I T U T I O N S INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS I N THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS EARLIER USED TO S A T I S F Y RESERVE REQUIREMENTS AT ALL DEPOSITORY I N S T I T U T I O N S PLUS CURRENCY OUTSIDE THE U . S . TREASURY, FEDERAL RESERVE BANKS. THE VAULTS OF DEPOSITORY I N S T I T U T I O N S , AND SURPLUS VAULT CASH AT DEPOSITORY I N S T I T U T I O N S .
@FedFRASER