Full text of H.3 Aggregate Reserves of Depository Institutions and the Monetary Base : July 5, 1985

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FEDERAL RESERVE statistical release
H.3 (902)
T«M* 1

For Rslsasa at 4:30 Esstsm Tims
JULY

5,

1985

AQQREQATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adjustsd for changss In rasarva rsquirsmsnts1
Avaragas of dally figurss, saasonslly adjustsd unlass notsd otharwtsa
Millions of dollars

Data

total*

Wsssrvas of dapoaltory Institutions
nonborrowad
nonborrowad plua
raqutrad
axtandad cradlt*

Mooatary baaa*
NSA4

borrowinga of daaosWonr Institutions
from tha Fadaral Rassrvi NSA
total
aaasonal
axtandad cradtt*

1 9 8 4 - “J U N E
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.

3 7 ,9 8 6
3 8 ,0 5 0
3 8 ,2 8 4
3 8 ,0 8 6
3 7 ,9 6 1
3 8 ,4 6 6
3 9 ,0 8 1

3 4 ,6 8 6
3 2 ,1 2 6
3 0 ,2 6 8
3 0 ,8 4 4
3 1 ,9 4 4
3 3 ,8 4 9
3 5 ,8 9 5

3 6 ,5 5 8
3 7 ,1 3 4
3 7 ,3 1 1
3 7 ,3 0 3
3 7 ,0 0 1
3 7 ,6 8 6
3 8 ,4 9 9

3 7 ,2 1 2
3 7 ,4 3 7
3 7 ,5 9 5
3 7 ,4 5 8
3 7 ,3 4 1
3 7 ,7 7 3
3 8 ,2 2 9

774
613
689
628
620
693
853

1 9 3 ,6 5 9
1 9 4 ,4 6 0
1 9 5 ,5 6 8
1 9 6 ,2 0 6
1 9 6 ,3 9 7
1 9 7 ,6 7 2
1 9 9 ,0 3 2

3 ,3 0 0
5 ,9 2 4
8 .0 1 7
7 ,2 4 2
6 .0 1 7
4 ,6 1 7
3 , 186

264
308
346
319
299
212
113

1 ,8 7 3
5 ,0 0 8
7 ,0 4 3
6 ,4 5 9
5 ,0 5 7
3 ,8 3 7
2 ,6 0 4

1985— JAN .
FEB.
MAR.
APR.
MAY
JUN E

3 9 ,6 3 5
4 0 ,4 3 2
4 0 ,4 7 1
4 0 ,7 1 0
4 1 ,3 2 3
4 2 ,1 7 9

3 8 ,2 4 0
3 9 ,1 4 3
3 8 ,8 7 8
3 9 ,3 8 7
3 9 ,9 8 9
4 0 ,9 7 4

3 9 ,2 9 0
3 9 ,9 4 7
3 9 ,9 3 7
4 0 ,2 5 6
4 0 ,5 2 2
4 1 ,6 3 9

3 8 ,8 9 0
3 9 ,5 2 9
3 9 ,7 0 5
3 9 ,9 7 2
4 0 ,5 1 9
4 1 ,2 3 9

745
903
766
738
804
939

2 0 0 ,2 0 6
2 0 2 ,0 4 9
2 0 2 ,9 4 5
2 0 3 ,5 6 3
2 0 5 ,3 5 5
2 0 7 ,8 9 5

1 ,3 9 5
1 ,2 8 9
1 ,5 9 3
1 ,3 2 3
1 ,3 3 4
1 ,2 0 5

62
71
88
135
165
151

1 ,0 5 0
803
1 ,0 5 9
868
534
665

P

4 1 ,5 8 5
4 1 ,9 9 8

4 0 ,0 6 8
4 0 ,8 7 5

4 0 ,9 8 1
4 1 ,4 8 7

4 0 ,7 6 2
4 1 ,2 7 2

823
726

2 0 6 ,3 8 8
2 0 7 ,4 3 0

1 ,5 1 8
1 ,1 2 3

171
142

914
612

PE

4 2 ,6 7 9

4 1 ,5 1 2

4 2 ,1 3 2

41 , 4 1 5

1 ,2 6 3

2 0 9 ,1 7 3

1 ,1 6 7

153

620

P

TWO W E E K S
EN DING
1 9 8 5 -JUNE

JULY

5
19
3

3/

4/
5/

I ll l i
BY




COMPONENT

AN D

s :S S # I

FXCFSt RF?FRVES I S

A D D ED N

n

-

.

”

r

*RE SEAi'0NALLY ADJUSTED

AS

A

WHOLE,

RATHER

THAN

H.3 (502)
Table 2

AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND TH E MONETARY BASE
N ot adjusted for cha n ges In reserve requirem ents,
A verages of daily figures, not seasonally adjusted

‘

Millions of dollars
Vault cash4

Reserves of depository institutions
Reserve balances,
with F.R. Banks?-?

Monetary
base2!

Date

used to satisfy
required
reserves* |

total

required

nonborrowed

total

surplus*'

Net carryover
of excess or
deficit
In reserve
balance#!}

S il l l i i *
lllillli! p l i i I B
1984- -JU N E
JULY
AUG.
SEPT
OCT.
NOV.
DEC.

3 7 ,5 2 6
3 7 ,4 7 1
3 7 ,2 6 4
3 8 ,0 4 3
3 8 ,5 1 2
3 9 ,2 3 5
4 0 ,6 9 6

3 4 ,2 2 5
3 1 ,5 4 7
2 9 ,2 4 7
3 0 ,8 0 1
3 2 ,4 9 5
3 4 ,6 1 8
3 7 ,5 0 9

3 6 ,7 5 2
3 6 ,8 5 8
3 6 ,5 7 5
3 7 ,4 1 5
3 7 ,8 9 2
3 8 ,5 4 2
3 9 ,8 4 3

193 ,9 71
19 5 ., 5 1 6
195 , 677
1 9 6 j, 2 2 9
196,, 6 8 8
1 9 8 j,7 7 1
2 0 2 ,,5 8 6

2 0 ,2 1 7
1 9 ,8 9 1
1 9 ,2 7 0
2 0 ,1 4 3
2 0 ,0 9 9
2 0 ,8 4 3
2 1 ,7 3 8

2 0 ,7 7 0
2 1 ,1 3 4
2 1 ,6 8 8
21 2 3 2
2 1!87 5
2 1 ,8 2 7
2 2 ,3 1 6

1 7 ,3 0 8
1 7 ,5 7 9
1 7 ,9 9 5
1 7 ,9 0 0
1 8 ,4 1 3
1 8 ,3 9 2
1 8 ,9 5 8

3 .4 6 1
3 ,5 5 5
3 ,6 9 4
3 ,3 3 3
3 .4 6 2
3 ,4 3 4
3 ,3 5 8

19 8 5 - - J A N .
FEB.
MAR.
APR.
MAY
JUNE

41 .. 1 2 5
4 0 ,2 7 3
4 0 ,4 9 4
4 1 ,6 5 2
4 1 ,0 5 1
4 2 ,3 5 5

3 9 ,7 3 0
3 8 ,9 8 4
3 8 ,9 0 1 4 0 ,3 2 9
3 9 ,7 1 8
4 1 ,1 5 1

4 0 ,3 8 0
3 9 ,3 7 0
3 9 ,7 2 8
4 0 ,9 1 4
4 0 ,2 4 7
4 1 ,4 1 6

201 ,, 3 5 3
1 9 9 j, 9 3 7
201 ,, 2 8 7
2 03 , 014
2 0 4 , 944
2 0 8 , 624

2 1 ,5 7 7
2 0 ,4 1 6
2 2 ,0 6 5
2 3 ,2 1 7
2 2 ,3 8 5
2 3 ,3 7 3

2 3 ,0 4 4
2 3 ,9 2 7
2 1 ,8 6 3
2 1 ,5 6 7
2 1 ,8 9 8
2 2 ,1 8 0

1 9 ,5 4 7
1 9 ,8 5 7
1 8 ,4 2 9
1 8 ,4 3 5
1 8 ,6 6 6
1 8 ,9 8 2

3 ,4 9 7
4 ,0 7 0
3 ,4 3 4
3 , 132
3 ,2 3 1
3 , 198

P

•

TWO W EE K S
ENDING
1 9 8 5 - -JU N E

JULY

5
19

l

3

2 2 ,6 1 0
2 3 ,8 6 8

2 1 ,6 9 2
2 1 ,6 8 8

1 8 ,4 7 3
1 8 ,7 1 6

3 ,2 2 0
2 ,9 7 2

111
70

PE

4 2 ,6 4 2

4 1 ,4 7 6

4 1 ,3 7 9

2 09 , 280

2 3 ,0 9 0

2 3 ,0 2 9

1 9 ,5 5 3

3 ,4 7 7

60

E S TIM A TE .

OF

TOTAL

4/

RESERVES

PLUS

REQUIR ED

CURRENCY COMPONENT OF T H E
™ E C U R R EN C Y CO M PO N ENT OF

£
. iL
m ! 1? ' / ! ! !
C R R , C U R R E N C Y AND
EXCLUDES REQ UIR ED

CLEA RIN G

BALANCES

AN D

ADJUSTM ENTS

TO

THE

COM PENSATE

FOR

Tr
? VER ™ E AM 0UNT A P P L I E D TO S A T I S F Y C U R R EN T R E S E R V E R E Q U I R E M E N T S .
V A U L T CASH F IG U R E S ARE MEASURED OVER TH E M O N D A Y -E N D IN G C O M P U T A TIO N P E R IO D .
C L E A R I N G B A L A N C E S AN D A D J U S T M E N T S T O C O M P E N S A T E F O R F L O A T .

TH E M A IN TEN A N C E
P E R I O D S I N W HICH T H E V A U L T CASH CAN BE U S E D
REs:E- RVfc: R E Q U I R E M E N T S , M A I N T E N A N C E P E R I O D S E N D 3 0 D A Y S A F T E R
BALAN CES ARE H E L D .

A ? U ™ J ? A . A L r r.V A U L T

NO A D J U S T M E N T S T O E L I M I N A T E
A C T OR O T H E R R E G U L A T O R Y

CA5H

HELD

I)URIN G

THE

$ J m ? 5 n U f H ^ N G Br R E Q U I ^

LAGGED

CO M PU TATIO N

(;ARRYDVER

M A IN TEN A N C E

F'LR IO D

0NLY

ENDING

AT

AT

FEDERAL

RESERVE

P E R IO D

BY

TO S A T IS F Y
TH E LAGGED

IN S TITU TIO N S

AFTER

THE

IN TR O D U C TIO N

RESERVE R EQ U IR EM EN TS.
CO M P U TA TIO N P E R IO D S

H A V IN G -R EQ U IR ED

RESERVE

UNDER

BALANCFS

C A S H E Q U A L T0 R E Q U I R E D R E S E R V E S D U R I N C THE " A I N T E N A N C E P E R I O D AT

V A U L T C A S H AT I N 5 ! T I T U T I 0 N £ : H A V I N G NO R E Q U I R E D
R E Q U IR E D RES ER VES D U R IN G TH E M A IN T E N A N C E P E R IO D .
r r c r / ™ I S °r

FLOAT

M O N EY S T O C K L E S S T H E A M O U N T O F V A U L T C A S H H O L D I N G S O F T H R I F T I N S T I T U T I O N S T H A T
T H E MO N EY S T O C K P L U S , F O R I N S T I T U T I O N S N O T H A V I N G R E Q U I R E D R E S E R V E B A L A N C E S , T H E

T°




i

2 0 5 ,7 5 7
2 0 9 ,1 3 3

™ E
IN

7/

l

4 0 , 26Q
4 1 ,8 5 8

CO N SISTS

6/

i

3 9 ,5 6 5
4 1 ,4 6 1

2/

5/

j}jjji:::;j! gtjjjjjjjjj jBjjjfiuB
iiljpijS
M i

4 1 ,0 8 2
4 2 ,5 8 4

R E F L E C T S A C T U A L R E S E R V E R E Q U I R E M E N T S , I N C L U D I N G T H O S E ON N O N D E P O S I T L I A B I L I T I E S , W I T H
T H E E F F E C T S OF D I S C O N T I N U I T I E S A S S O C I A T E D W I T H I M P L E M E N T A T I O N OF T H E M O N E TA R Y C O N T R O L
CHANGES TO RESERVE R E Q U IR E M E N TS *

W HICH

iiiiij l l l i l l l i

P

1/

52
IN

■ i P l l H B

l

nipfilOfj I p i i p i f f l

p --------P R E L I M I N A R Y
PE - P R E LIM IN A R Y

3/

pimiilsiHsilmilmimm am

D EP OSITORY

O n ’ t HE

RESERVE

IN S TITU TIO N S
RESERVES

BALANCES

LESS

M A IN TA IN IN G

RESERVES

E L1 C IB LE

BE

T0

THE
ON

C A R R IED

AMOUNT
THE

OF

B A S IS

F0 R UA R I>

IN ™

VAULT
OF

CASH

TW O -W EEK

EQUAL

TO

TH E IR

M A IN TEN A N C E

THE ™ 0 -U E E K

RESERVE

OF

H.3 (502)

Table 3

AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adjusted for changes in reserve requirements'
Averages of daily figures, not seasonally adjusted
Millions of dollars
Date
total

1 9 8 5 - -JUNE
JULY
AUG*

Reaarvee of depository institutions
nonborrowed

Monetary base
required

OCT *
NOV *
DEC*

3 7 ,8 0 1
3 7 ,8 5 4
3 7 ,6 9 8
3 7 ,8 8 1
3 7 ,9 5 3
3 8 ,6 8 7
4 0 ,1 2 9

3 4 ,5 0 0
3 1 ,9 2 9
2 9 ,6 8 1
30., 6 4 0
3 1 ,9 3 6
3 4 ,0 7 0
3 6 ,9 4 3

3 7 ,0 2 7
3 7 ,2 4 0
3 7 ,0 0 8
3 7 ,2 5 3
3 7 ,3 3 2
3 7 ,9 9 4
3 9 ,2 7 7

1 9 4,24 6
19 5,89 9
1 96,111
1 9 6,06 7
1 9 6,12 9
1 9 8,22 4
2 0 2 ,0 2 0

1 9 85 — JAN*
FEB.
MAR *
APR*
MAY
JU N E

4 0 ,7 0 3
3 9 ,8 7 8
4 0 ,0 6 6
4 1 ,2 5 4
4 0 ,6 4 3
4 1 ,9 6 1

3 9 ,3 0 8
3 8 ,5 8 9
3 8 ,4 7 3
3 9 ,9 3 2
3 9 ,3 0 9
4 0 ,7 5 6

3 9 ,9 5 8
3 8 ,9 7 5
3 9 ,3 0 1
4 0 ,5 1 6
3 9 ,8 3 9
4 1 ,0 2 1

200,93 1
1 9 9,54 2
2 0 0 ,8 5 9
2 0 3 ,4 1 7
20 4 ,5 3 5
20 8 ,2 3 0

P

4 0 ,6 3 0
4 2 ,2 2 2

3 9 ,1 1 3
4 1 ,0 9 9

3 9 ,8 0 7
4 1 ,4 9 6

205/305
208,77 1

PE

4 2 ,2 3 3

4 1 ,0 6 6

4 0 ,9 6 9

2 0 8 ,8 7 0

SEPT.

P

TWO WEEKS
ENDING
1 9 8 5 - - JUNE

JULY

P—
P E1/

5
19
3

PRELIM INARY E ST IM ATE .
F IG U R E S ' R E F L E C T A D J U S T M E N T S FOR D I S C O N T I N U I T I E S A S S O C I A T E D
AND OTHER R E G U L A T O R Y CH AN GES TO RE S E R V E R E Q U I R E M E N T S .




W IT H

THE

IM PLE M E NTAT IO N

OF

THE

MONETARY

CONT R OL

ACT