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FEDERAL RBSBK^ERSfatistical release AUG F E D E R A L R; S H.3<502) Table 1 1982 .i .,>••• . For Immediate Release Q C PJ^" AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve requirements! Averages of daily figures Reserves of depository institutions tota|2 non borrowed Period required millions of dollars seasonal h/ adjusted 1981—MAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. billions of dollars Reserves of depository institutions non borrowed total2 required millions of dollars not seasonally adjusted 1982 Monetary base3 billions of dollars 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 41,277 40,927 41,090 41,181 41,329 41,441 39,759 39,137 39,534 39,613 40,212 40,236 40,859 40,623 40,728 40,908 40,971 41,133 167.4 167.9 168.5 169.8 171.0 172.1 42,696 40,735 40,533 41,086 40,984 40,882 41,178 38,946 38,977 39,518 39,867 39,678 42,278 40,432 40,172 40,813 40,625 40,574 168.5 166.1 166.5 168.9 170.4 171.5 P 41,595 41,000 41,476 41,523 41,721 40,547 39,696 40,547 40,509 40,105 40,923 40,851 41,244 41,303 41,193 172-3 171.5 172.3 172.1 172.5 40,932 39,848 40,887 41,125 41,655 39,884 38,544 39,958 40,111 40,039 40,260 39,699 40,655 40,905 41,127 171.2 171.4 172.0 171.5 171.5 7 P 14 P 21 P 41,518 40,838 41,710 40,446 40,280 41,115 40,978 40,604 41,360 172.6 171.7 172.6 41,017 40,437 42,072 39,945 39,879 41,477 40,477 40,203 41,722 174.4 173.1 173.8 39,627 39,619 1982—JAN. FEB. MAR. APR. MAY JUNE WEEK Monetary base3 JULY 2 6 , ENDING: 1982—JUNE 2 9 16 23 30 JULY P - PRELIMINARY 1/ RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITORY INSTITUTIONS. DISCONTINUITIES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT, THE INCLUSION OF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES IN REGULATION D HAVE BEEN REMOVED. BEGINNING WITH 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. COMMERCIAL BANKS AND U.S. AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIMATED THAT REQUIRED RESERVES WERE LOWERED ON AVERAGE BY $10 TO $20 MILLION IN DECEMBER 1981 AND $40 TO $70 MILLION IN JANUARY 19822/ RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT INSTITUTIONS WITH 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 WEEK PLUS VAULT CASH HELD TWO WEEKS 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 institutions1 total2 Period nonborrowed required Monetary base3 millions of dollars 1981—HAY JUNE JULY AUG. SEPT. OCTNOV. 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 1982—JAN. FEB. HAR. APR. HAY JUNE 43,203 41,286 39,235 39,557 39,550 39,565 41,685 39,496 37,679 37,989 38,433 38,360 42,784 40,982 38,873 39,284 39,191 39,257 169.1 166.8 165.4 167.6 169.2 170.4 WEEK ENDING: V 2/ 3/ 1982—JUNE 2 9 16 23 30 P 39,594 38,550 39,584 39,785 40,332 38,546 37,246 38,655 38,771 38,716 38,922 38,401 39,352 39,565 39,804 170.1 170.4 170.9 170.4 170.4 JULY 7 P 14 P 21 P 39,754 39,191 40,709 38,682 38,633 40,114 39,214 38,957 40,359 173.4 172.1 17?.7 DESERVES OP DEPOSITORY INSTITUTIONS SERIES REFLECT ACTUAL RESERVE REQUIREHENT PERCENTAGES WITH NO ADJUSTIH B E ™ « " 0 N »» INCLUDING CHANGEi L I O C M T E D NITH THE S B P L E M E ^ ?™ L f. * CONTROL ACT. INCLODES REQUIRED RESERVES OF BESBER BANKS AND EDGE ACT CORPORATIONS AND. BEGINNING NOVEHBER 13. 1980, OTHER DEPOSITORY INSTITUTIONS. UNDER THE TBANSITIONAL PHASE-IN PROGMB 2 L r E c f l 2 N E T A E * C 0 N T E 0 L i C T °* " 8 0 , THE NET CHANGES IN REQUIRED RESERVES OF DEPOSITORY INSTITUTIONS HAV*E BEEN AS FOLLOWS: EFFECTIVE NOVEHBER 13. 1980, A REDUCTION OF $2.8 BILLION; FEBRUARY 12, 1981 AN INCREIIF OF $245 BILLION; MARCH 12, 1981, AN INCREASE OF $75 BILLION; BAY 14. 1981, AN INCREASE OF $245 5 n S t ^ L , 1 3 ' 1 9 8 1 ' 1 H I 1 , C B E i S E OF *245 HU.LION; SEPTEHBER 3, 1981. A REDUCTION OF nflBILLION? NOVEMBER* r 3 , ^ l ? ! ! ' n A , \ ^ E E A S E ° F $ 2 2 ° " « » > • ; «»"»RT 1«. 1982. A REDUCTION OF $60 BILLION; FEBRUARY U. llll AN INCREASE OF $180 BILLION; MARCH 4. 1982, AN ESTIMATED REDUCTION OF $2.0 BILLION AND BAY 13 1982 A ESTIHiTED IHCEEisE p 1 L O * <>0 BILLION- BEGINNING WITH THE WEEK ENDED DECEMBER 23, 1981. RESERVE* AGGREGATES HAVE BEEN REDUCED BY SHIFTS Or RESERVABLE LIABILITIES TO INTEBNATIONAL BANKING FACILITIES fTBF<?> ON THE BASIS OF REPORTS OF LIABILITIES TRANSFERRED TO IBFS BY U.S. COMMERCIAL BANKS AND U S AGENClL AND ' * BRANCHES OF FOREIGN BANKS, IT IS ESTIMATED THAT REQUIRED RBSERVES WERE LOWERED ON H S « n $60 TO « S E U R ^ R \ E » C ? ^ N S E A C T I O N S . A 1 , D $ 1 8 ° T ° $ 2 3 ° I N J i R ° A R Y 1 9 8 2 * H ° S T I ' 1 » " " « « » B^CTION'lfREs'ERVABLE 0 RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EtCLUDE REQUIRED CLEARING BALANCES* PLUS VAtlTT r»<?n i* INSTITUTIONS WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OT^ER INSTITUTIONS INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS IN THE CURRENT " S F E M r n « L ^ S l S ! " T W ° " E E K S E A 8 l l E E ° S E D T 0 S i T I S " B E S E E T E KBQOIREHENTS AT ALL DEPOSITORY INSTITUTIONS PLUS C ^ S T E S ? „ ° 2 ? S I I > E T H E °'S- T B E * S 0 B I ' "DERiL RESERVE BANKS, THE VAOLTS OF DEPOSITORY INSTITUTIONS WD SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS. inoiiJUilONS. AND T B l 5!«n> S. 5iS!! :"S THE E " E C T ° P CHAHGES I0 0 THE H0NET KT
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