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FEDERAL RESERVE statistical releafe-. / J 1 H.3 (508) y For ImmediatC Release yJULY 2 8 , 1980 Table 1 AGGREGATE RESERVES AND MEMBER BANK DEPOSITS Average of daily figures Member bank reserves? Period seasonally adjusted 1979—JUNE JULY AUG. SEPT. OC1. NOV. DEC. 40,531 40,782 41,110 41,429 42,199 43,057 43,567 39,113 39,612 40,025 40,089 40,177 41,151 42,095 40,310 40,572 40,888 41,238 41,927 42,812 43,126 145.9 147.1 148.6 150.0 151.5 152.8 153.8 614.7 619.3 625.4 631.5 638.2 641.9 644.4 427.6 43 0 . 6 436.3 441.7 446.6 450.1 451.1 185.0 186.9 187.0 188.1 189.8 190.0 191.5 11.2 12.4 12.2 13.3 15.1 14.7 15.4 173.7 174.5 174.8 174.7 174.7 175.3 176.1 2.1 1.8 2.1 1*7 1.7 1.9 1.8 1980—JAN. FEE. MAB. APE- P MAI P JUNE P 43,441 43,350 43,675 44,905 44,457 43,982 42,200 41,695 40,851 42,449 43,439 43,603 43,191 43,139 43,471 44,644 44,276 43,768 154.7 155.6 156.6 157.9 158.5 158.9 643.7 647.2 649.1 655.4 656.8 657.9 451.9 454.4 457.9 464.2 467.7 467.8 189.5 190.9 189.4 188.7 187.3 188.4 13.6 14.5 15.6 17.2 17.1 16.9 176.0 176.4 173.9 171.5 170,2 171.5 2.3 1«9 1.8 2.4 1.8 1-7 P P P P 45,223 44,085 43,574 43,657 44,764 43,684 43,178 43,339 44,755 43,995 43,410 43,455 159.7 158.5 158.6 158.7 656.5 658.8 660i1 657.0 466.7 468.0 469.0 467.9 187.5 188.9 189.2 187.8 17.4 16.7 16.8 17.1 170.1 172.1 172.3 170.7 2.3 1.9 2.0 1.3 2 P 9 P 16 P 43,873 43,696 43,760 43,525 43,481 43,428 43,602 43,190 43,420 159.4 159.1 159.6 657.5 656.4 659.1 466.8 466.5 466.6 189.3 186.7 190.5 17.5 16.7 17.0 171.9 170.0 173.5 1.4 3.2 1.9 WEEK ENDING: 1980—JUNE JULY 4 11 18 25 not seasonally adjusted 1979—JUNE JOIY AUG. SEPT. 0C1. NOV. DEC. 40,104 40,916 40,715 41,054 42,280 42,997 44,020 38,686 39,746 39,630 39,713 40,258 41,092 42,547 39,883 40,705 40,494 40,862 42,005 42,771 43,560 145.6 147.9 148.4 149.4 151.3 153.5 156.3 613.9 619.1 620.4 629.1 637.8 642.2 652.6 427.2 429.7 434.2 439.5 445.7 449.2 452.0 183.9 187.8 184.5 187.5 190.5 191.3 198.6 11.0 12.6 12.0 13.3 15.1 15.2 16.0 172.9 175.2 172.6 174.2 175.4 176.2 182.6 2.8 1.6 1.7 2.1 1.6 1.7 2.0 1980—JAN. FEB. MAB. APB. P MAY P JUNE P 45,179 43,177 43,102 44,939 43,974 43,494 43,938 41,522 40,279 42,483 42,956 43,115 44,928 42,966 42,899 44,678 43,793 43,280 155.9 154.0 154.9 157.6 157.8 158.6 652.1 643.9 648.0 657.7 651.5 656.8 454.6 455.8 460.6 464.7 467.7 467.4 195.4 186.2 185.5 190.4 182.1 187.2 14.5 14.3 15.2 16.8 16.2 16.6 180.9 172.0 170.4 173.6 165.9 170.6 2.1 1.8 1.9 2.6 1.7 2.3 P P P P 44,174 42,967 43,435 43,284 43,715 42,566 43,039 42,966 43,706 42,877 43,271 43,.082 158.5 158.5 158.7 158.0 656.2 656.8 661.4 652.3 467.3 468.1 468.0 466.6 187.0 187.2 189.5 183.7 18.1 15.9 16.8 15.5 168.9 171.3 172.7 168.2 1.9 1.5 3.9 2.0 2 P 9 P 16 P 44,065 43,089 43,936 43,717 42,874 43,604 43,794 42,583 43,596 159.5 160.9 161.0 658.9 660.6 660.2 466.8 466.4 465.6 190.7 191.0 192.9 18.7 17.2 17.3 172.1 173.8 175.6 1.4 3.2 1.7 WEEK ENDING: 1980—JUKE JUIY 4 11 18 25 See reverse side for explanation of footnotes. H.3 Table 2 AGGREGATE RESERVES AND MONETARY BASE Adjusted for changes in reserve requirements3 Averages of daily figures Member bank reserves Period [ non borrowed I required total millions of dollars seasonally adjusted Monetary base total billions of dollars Member bank reserves j non borrowed required millions of dollars not seasonally adjusted Monetary base billions of dollars 39,350 39,868 40,280 40,351 40,313 • 40,628 41,697 40,547 40,828 41,143 41,500 42,063 42,290 42,728 146.2 147.4 148.8 150.3 151.6 152.3 153-4 40,341 41,173 40,970 41,315 42,416 42,475 43,622 38,923 40,002 39,885 39,975 40,394 40,569 42,149 40,120 40,962 40,749 41,124 42,144 42,23-0 43,180 145.9 148.2 148.6 149.7 151.4 153.0 155.9 43,121 43,091 43,249 43,403 43,369 43,335 41,880 41,436 40,426 40,947 42,350 42,956 42,870 42,880 43,045 43,142 43,188 43,121 154.4 155.3 156.2 156.4 157.5 158.3 44,858 42,918 42,676 43,436 42,886 42,847 43,617 41,263 39,853 40,981 41,868 42,468 44,607 42,707 42,473 43,176 42,705 42,633 155.6 153.7 154.5 156.0 156.7 157.9 P P P P 43,949 42,816 43,296 43,376 43,490 42,415 42,900 43,058 43,481 42,726 43,132 43,174 158.4 157.3 158.3 158.4 42,901 41,699 43,157 43,003 42,442 41,298 42,761 42,685 42,433 41,609 42,993 42,801 157.2 157.2 158.4 157.7 2 P 9 P 16 P 43,569 43,423 43,452 43,221 43,208 43,120 43,298 42,917 43,112 159.1 158.8 159.3 43,762 42,816 43,629 43,414 42,601 43,297 43,491 42,310 43,289 159.2 160.6 160.7 1979—JUNE JULY AUG. SEPT. OCT. NOV. DEC. I 1980—JAN. FEB. MAR. APR. P MAY P JUNE P 40,767 41,039 41,365 41,691 42,335 42,534 43,170 I WEEK ENDING; 1980—JUNE JUIY 4 11 18 25 j | P - PRELIMINARY 1/ MEMBER EANK RESERVES SERIES REFLECT ACTUAL RESERVE REQUIREMENT PERCENTAGES WITH NO ADJUSTMENT TO ELIMINATE THE EFFECT OF CHANGES IN REGULATIONS D AND M. EFFECTIVE OCTOBER 11, 1979, AN 8 PERCENTAGE POINT MARGINAL RESERVE REQUIRMENT WAS IMPOSED ON "MANAGED LIABILITIES". ON OCTOBER 25, 1979, RESERVES OF EDGE ACT CORPORATIONS WERE INCLUDED IN MEMBER BANK RESERVES. THIS ACTION RAISED REQUIRED RESERVES $318 MILLION. EFFECTIVE MARCH 12, 1980, THE 8 PERCENTAGE POINT MARGINAL RESERVE REQUIREMENT WAS RAISED TO 10 PERCENTAGE POINTS. IN ADDITION THE BASE UPON WHICH THE MARGINAL RESERVE REQUIREMENT IS CALCULATED WAS REDUCED. THIS ACTION INCREASED REQUIRED RESERVES ABOUT $1,693 MILLION IN THE WEEK ENDING APRIL 2, 1980. EFFECTIVE MAY 29, 1980, THE MARGINAL RESERVE REQUIREMENT WAS REDUCED FROM 10 TO 5 PERCENTAGE POINTS AND THE EASE UPCN WHICH THE . MARGINAL RESERVE REQUIREMENT IS CALCULATED WAS RAISED. THIS ACTION REDUCED REQUIRED RESERVES ABOUT $980 MILLION IN THE WEEK ENDING JUNE 18, 1980. 2/ INCLUDES TOTAL RESERVES (MEMBER BANK RESERVE BALANCES IN THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS EARLIER); CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS AND THE VAULTS OF COMMERCIAL BANKS; AND VAULT CASH OF NONMEMBER BANKS. 3/ RESERVE AGGREGATES SERIES HAVE EEEN ADJUSTED TO REMOVE DISCONTINUITIES ASSOCIATED WITH MARGINAL RESERVE REQUIREMENTS, THE INCLUSIONS OF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES IN REGULATIONS D, K, AND M. HISTORICAL DATA AND A DESCRIPTION OF THE ADJUSTMENT PROCEDURE ARE AVAILABLE FROM THE BANKING SECTION, DIVISION OF RESEARCH AND STATISTICS, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, WASHINGTON, D.C. 20551.
@FedFRASER