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'^oi^oyt ^. FEDERALS VE statistical release ^ *,.+&» H.3 (502) For Immediate Release Table 1 AGGREGATE RESERVES C^DtPOSITORY INSTITUTIONS AND MONETARY BASE JULY 6, 1982 Adjusted for changes in reserve requirements 1 Reserves of depository institutions tota|2 non borrowed required millions of dollars seasonally adjusted Period Monetary base3 billionsof dollars Reserves of depository institutions total2 non borrowed required millions of dollars not seasonally adjusted Monetary base3 billionsof dollars 1981--MAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. 39,627 39,619 39,727 39,810 40,312 4 0 , 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. MAR. APR. 41,277 40,927 41,090 41,181 41,328 41,480 39,759 39,137 39,534 39,613 40,211 40,275 40,859 40,623 40,728 40,908 40,971 41,127 167.4 167.9 168.5 169.8 171.0 172.2 42,696 40,735 40,533 41,086 40,983 40,922 41,178 38,946 38,977 39,518 39,866 39,716 42,278 40,432 40,172 40,813 40,625 40,568 168.5 166.1 166.5 168.9 170.4 171.5 41,680 41,023 41,379 4 1 , 146 40,181 39,906 40,413 40,100 41,240 40,764 40,939 4 1 , 0 50 170.6 170.2 171.2 171.2 42,114 40,745 41,041 40,396 40,615 39,628 40,075 39,350 41,674 40,486 40,601 40,300 170.4 170.4 170.5 169.3 41,589 41,000 41,455 41,540 41,896 40,541 39,696 40,524 40,525 40,280 40,923 40,851 41,235 41,292 41,189 172.3 171.5 172.3 172.1 172.8 40,926 39,84 8 40,867 41,142 41,830 39,878 38,544 39,936 40,127 40^214 40,260 39,699 40,647 40,894 41,123 171. 1 171.4 172.0 171.5 171.8 MAY JUNE WEEK ENDING: 1982--MAY 5 12 19 26 JUNE 2 9 16 23 30 P P P P ? - PRELIMINARY 1/ RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OF MEM BER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITORY INSTITUTIONS. DISCO NTINUITIES ASSOC IATED WITH THE I.MPLEMENTATION OF THE M ONETARY CONTROL ACT, THE INCLUSION OF EDGE ACT CORPORA TION RESERVES, A ND OTHER CHANGES IN REGULATION D HAVE BEEN REMOVED. BEGINNING WITH THE WEEK ENDED DECEMBER 23, 1981, RESER VES AGGREGATES H AVE BEEN REDUCED 3Y SH IFTS OF RESERVABLE LIABILITIES TO INTERNATIONAL BANKI NG FACILITIES (I BFS). ON THE BAS IS OF REPORTS OF LIABI LITIES TRANSFERRED TO IBFS BY U.S. COMMERCIAL EANKS AN D U.S. AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS E STIMATED THAT REQUIRED RESERVES WER LOWERED ON AVERAGE BY $10 TO $20 MI LLION IN DECEMBE R 1981 AND $40 TO $70 MILLION IN JANUARY 19822/ RESERVE BALANCES WITH FEDERAL RESER VE BANKS (WHICH EXCLUDE REQUIRED CLEAR ING BALANCES) PLUS VAULT CASH AT INSTITUTIONS WITH R EQUIRED RESERVE BALANCES PLUS VA ULT CASH EQUAL TO REQU IP.ED RESERVES AT OTHER INSTITUTIONS 3/ INCLUDES RESERVE BA LANCES AND REQUI RED CLEARING BAL ANCES AT FEDERAL RESER VE BANKS IN THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS EARLIER U SED TO SATISFY R ESEPVE REQUIREMENTS AT ALL DEPOSITORY INSTITUTIONS PLUS CURRENCY OUTSIDE TH E U.S. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND SURPLUS VAULT CASH AT DEPOSITORY IN STITUTIONS. 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 institutions 1 tota|2 Period nonborrowed required Monetary base 3 millions of dollars 1981--MAY 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 1982—JAN. FEB. MAR. APR. MAY JUNE 43,203 41,286 39,235 39,557 39,549 39,604 41,685 39,496 37,679 37,989 38,432 38,399 42,784 40,982 38,873 39,284 39,191 39,251 169.1 166.8 165.4 167.6 169.2 170.5 40,555 39,153 39,715 39,033 39,056 38,036 38,749 37,987 40,115 38,894 39,275 38,937 169.1 169.1 169.4 168.2 39,588 38,550 39,564 39,802 40,506 38,540 37,246 38,633 38,787 38,890 38,922 38,401 39,344 39,554 39,799 170.0 170.4 170.9 170.4 170.7 WEEK ENDING: 1982—MAY JUNE 1/ 2/ 3/ 5 12 19 26 2 9 16 23 30 P P P P RESERVES OF DEPOSITORY INSTITUTIONS SERIES REFLECT ACTUAL RESERVE REQUIREMENT PERCENTAGES WITH NO ADJUSTMENTS TO ELIMINATE THE EFFECT OF CHANGES IN REGULATION D, INCLUDING CHANGES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT. INCLUDES REQUIRED RESERVES OF MEMBER BANKS AND EDGE 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; MAY 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 OF $60 MILLION; FEBRUARY 11, 1982 AN INCREASE OF $180 MILLION; MARCH 4, 1982, AN ESTIMATED REDUCTION OF $2.0 BILLION AND MAY 13, 1982, AN ESTIMATED INCREASE OF $160 MILLION. BEGINNING WITH THE WEEK ENDED DECEMBER 23, 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 1982, MOSTLY REFLECTING A REDUCTION IN RESERVABLE EUROCURRENCY TRANSACTIONS. 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, 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.
@FedFRASER