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FEDERAL REfflftVE statistical release" $# H.3 (502) '••f^mf. For Immediate Release V«- Table 1 AGGREGATE RESERVES^tTCI^gitORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve reqiiirem|r^1 * Averages of daily figures Reserves of depository institutions Period total2 non borrowed required millions of dollars seasonal I/ adjusted JULY 1 9 , Monetary base3 billions of dollars Reserves 67 expository institutions totaiz non borrowed required millions of dollars not seasonally adjusted 1982 ivlonetary base^ billions of dollars 1SI81—BAY JONE JULY AUG. SEPT. OCT. NOV. DEC. 39,627 39,619 39,727 39,810 40,312 40,118 40,150 40,527 37,399 37,582 38,048 38,390 38,855 38,937 39,487 39,891 39,370 39,281 39,387 39,518 39,898 39,840 39,805 40,208 161.4 161.7 162.5 162.9 163.7 163.8 164.3 165.8 39,310 39,053 39,636 39,479 40,087 40,219 40,332 41,263 37,083 37,016 37,957 38,060 38,630 39,038 39,669 40,626 39,053 38,715 39,296 39,187 39,673 39,941 39,987 40,943 160.8 161.2 163.3 163.2 163.3 163.8 165-6 168.9 1982—JAN. FEB. BAB. APB. BAY JUNE 41,277 40,927 41,090 41,181 41,329 41,457 39,759 39,137 39,534 39,613 40,212 40,253 40,859 40,623 40,728 40,908 40,971 41,132 167.4 167.9 168.5 169.8 171.0 172.1 42,696 40,735 40,533 41,086 40,934 40,898 41,178 38,946 38,977 39,518 39,867 39,694 42,278 40,432 40,172 40,813 40,625 40,573 168.5 166.1 166.5 168.9 170.4 171.5 WEEK ENDING: 1982—JUNE 2 9 16 23 P 30 P 4t,595 41,000 41,476 41,529 41,785 40,547 35,696 40,547 40,515 40,169 40,923 40,851 41,244 41,303 41,186 172.3 171.5 172.3 172.1 172.6 40,932 39,848 40,887 41,131 41,719 39,884 38,544 39,958 40,117 40,103 40,260 39,699 40,655 40,905 41,122 171.2 171.4 172.0 171.5 171.5 JULY 7 P 14 P 41,518 40,770 40,446 40,212 40,978 40,605 172.6 171.6 41,017 40,369 39,945 39,811 40,477 40,204 174.4 173.0 ? - PBELIBINABY 1/ RESERVE AGGEEGAIES INCLUDE BBQDIBED BESEBVES OF BEBBEB BANKS AND EDGE ACT COBPOBATIONS AND OTHEB DEPOSITOBY INSTITUTIONS. DISCONTINUITIES ASSOCIATED WITH THE IHPLEBENTATION OF THE BONETABY CONTBOL ACT, THE INCLUSION OF EDGE ACT COBPORATION BESEBVES, AND OTHEB CHANGES IN BEGULATION D HAVE BEEN BEHOVED. BEGINNING HITH THE WEEK ENDED DECEHBEB 23, 1981, BESEBVES AGGBEGATES HAVE BEEN BEDVCZD BY SHIFTS OF BESERVABLE LIABILITIES TO INTEBNATIONAL BANKING FACILITIES (IBFS). ON THE BASIS OF BEPCKTS OF LIABILITIES TBANSFEBBED TO IBFS BY U.S. COBBEBCIAL BANKS AND U.S. AGENCIES AND BBANCHES OF FOBEIGN BANKS, IT IS ESTIBATED THAT BEQUIBED BESEBVES HEBE LOWEBED ON AVEBAGE BY $10 TO $20 BILLION IN DECEHBEB 1981 AND $40 TO S70 BILLION IN JANUABY 1982. 2/ RESEBVE BALANCES WITH FEDEBAL RESEBVE BANKS (WHICH EXCLUDE BEQUIBED CLEABING BALANCES) PLUS VAULT CASH AT INSTITUTIONS WITH REQUIRED BESEBVE BALANCES PLUS VAULT CASH EQUAL JO BEQUIBED BESEBVES AT OTHEB INSTITUTIONS. 3/ INCLUDES BESEBVE BALANCES AND BEQUIBED CLEABING BALANCES AT FEDEHAL BESEBVE BANKS IN THE CDBBENT WEEK PLUS VAULT CASH HELD TWO WEEKS EABLIEH USED TO SATISFY BESEBVE REQUIREMENTS AT ALL DEPOSITOBY INSTITUTIONS PLUS CUBRENCY OUTSIDE TEE U.S. TREASURY, FEDERAL RESEBVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND SURPLUS VAULT CASH AT DEPOSITOBY INSTITUTIONS. NOIE: HISTORICAL DATA ARE AVAILABLE FROM THE BANKING SECTION, DIVISION OF RESEARCH AND STATISTICS, BOAAD OF GOVERNORS OF THE FEDE&AX BESEBVE 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—BAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. 40,516 40,442 41,007 41,023 40,591 40,711 40,948 41,924 38,288 38,405 39,328 39,604 39,134 39,531 40,285 41,287 40,258 40,104 40,667 40,731 40,177 40,433 40,604 41,604 162.6 163.3 165.4 165.4 163.9 164.3 166.3 169.7 1 9 8 2 — JAN. FEB. BAR. APR. HAY JUNE 43,203 41,286 39,235 39,557 39,550 39,581 41,685 39,496 37,679 37,989 38,433 38,377 42,784 40,982 38,873 39,284 39,191 39,255 169.1 166.8 165.4 167.6 169.2 170.4 HEEK ENDING: 1/ 2/ 3/ 1982—JUNE 2 9 16 23 P 30 P 39,594 38,550 39,584 39,791 40,396 38,546 37,246 30,655 38,777 38,780 38,922 38,401 39,352 39,565 39,799 170.1 170.4 170.9 170.4 170.5 JULY Y 7 P 14 P 39,754 39,122 38,682 38,564 39,214 38,957 173.4 172.0 RESERVES OF DEPOSITORY INSTITUTIONS SERIES REFLECT ACTUAL RESERVE REQUIREHENT PERCENTAGES IITH NO ADJUSTMENTS TO ELIMINATE THE EFFECT OF CHANGES IN REGULATION D, INCLUDING CHANGES ASSOCIATED H U H THE IMPLEHENTATION OF THE MONETARY CONTROL ACT. INCLUDES REQUIRED RESERVES OF MEMBER BANKS AND EDGB ACT CORPORATIONS AND, BEGINNING NOVEMBER 13, 1980, OTHER DEPOSITORY INSTITUTIONS. UNDER THE TRANSITIONAL PHASE-IN PROGRAM OF THE MONETARY CONTROL ACT OF 1980, THE NET CHANGES IN REQUIRED RESERVES OF DEPOSITORY INSTITUTIONS HAVE BEEN AS FOLLOWS: EFFECTIVE NOVEMBER 13, 1980, A REDUCTION OF $2.8 BILLION; FEBRUARY 12, 1981, AN INCREASE OF $245 MILLION; MARCH 12, 1981, AN INCREASE OF $75 MILLION; HAY 14, 1981, AN INCREASE OF $245 MILLION; AUGUST 13, 1981, AN INCREASE OF $245 MILLION; SEPTEMBER 3, 1981, A REDUCTION OF $1.3 BILLION; NOVEMBER 13, 1981, AN INCREASE OF $220 MILLION; JANUARY 14, 1982, A REDUCTION 01 $60 MILLION; FEBRUARY 11, 1982 AN INCREASE OF $180 MILLION; MARCH 4, 1982, AN BSTIMATBD REDUCTION OF $2.0 BILLION AND MAY 13, 1982, AN ESTIMATED INCREASE OF $160 MILLION. BEGINNING HITH THE MEEK ENDED DECEMBER 230 1981, RESERVE 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. COMMERCIAL BANKS AND U.S. AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIMATED THAT REQUIRED RESERVES WERE LOWERED ON AVERAGE BY $60 TO $90 MILLION IN DECEMBER 1981 AND $180 TO $230 IN JANUARY 1S82, MOSTLY REFLECTING A REDUCTION IN RESERVABLE EUROCURRENCY TRANSACTIONS. RESERVE BALANCES HITH FEDERAL RESERVE BANKS (HHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT INSTITUTIONS HITH 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 HEEK PLUS VAULT CASH HELD THO HEEKS 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 SORBLQS VAULT CASH AT DEPOSITORY INSTITUTIONS.
@FedFRASER