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-•ipjsssafc-
FEDERAL
:
statistical
•f**TB**Y
H.3(502)
RESERVE
v
*/?6
v
v
—
r e l e a $^/{/)
t
June 15, 1979
Statistical Release
A table showing monthly and weekly average, seasonally adjusted,
reserve aggregates and monetary base data adjusted for breaks in series
due to changes in Regulations D and M has been added to the H.3 release.
The adjustment procedure used is essentially a multiplicative method that
adjusts historical data as if current reserve requirements were in effect
for all past periods.
Thus, for periods after the latest change in reserve
requirements the actual and adjusted series are identical.
Historical
monthly data back to January 1975, and weekly data back to January 1978,
are included with this week ? s release.
Historical data back to 1959, along
with a description of-the break 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.
FEDERAL RESERVE
statistical release
H.t(502)
For Immediate Release
Aggregate Reserves and Member Bank Deposits
JUNE15,
i—
AVERAGES OF DAILY FIGURES, IN BILLIONS OF DOLLARS
SEASONALLY ADJUSTED
|
DEPOSITS SUBJECT TO RESERVE REQUIREMENTS
MEMBER BANK RESERVES jJ
Monetary
Period
Total
Nonborrowed
Required
Basel/
j
Private Demand Deposits
Time and
Savings
Total
1978 —MAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.
37.27
37.63
38.11
37.93
36.21
38.38
3^.75
41.27
3 6.06
36.53
36.80
36.79
37.15
37.10
39.05
40.40
37.05
37.45
37.92
37.77
38.02
38.22
3 9 . 5?
41.04
132.6
133.5
134.7
135.3
136.8
137.8
139.9
142.4
591.5
595.8
600.5
602.7
607.0
608.9
616.9
616.7
405.1
407.4
410.8
413.0
416.8
418.3
427.5
429.4
1979—JAN.
FEB.
MAR.
APP.
MAY P
41.48
40.75
40. * 1
40.65
40.49
40.48
39.78
39.82
?9.73
38.74
41.26
40.54
40.66
40.47
40.34
143.4
143.3
143.9
144.5
145.0
621.1
619.7
616.4
618.6
614.0
40.77
40.12
40.92
40.46
39.90
3 9 . 4<=
39.97
39.47
40.38
39.^6
40.76
40.35
144.5
143.5
144.7
144.3
30 P
41.17
40.56
40.64
40.25
40.33
39.96
39.07
38.88
38.55
38.04
41.02
40.49
40.38
40.23
40.00
6 P
40.49
39.15
40.07
Total
Net
Interbank
183.6
184.6
186.1
186.5
186.2
187.2
187.0
185.1
11.5
11.2
11.4
11.2
433.5
436.1
434.1
432.0
428.7
185.6
181.9
180.5
184.7
183.5
10.0
618.6
617.1
621.2
618.0
432.2
432.9
431.8
431.6
183.9
182.0
187.3
185.1
12.3
145.3
144.6
144.9
144.7
145.3
617.1
615.2
613.4
612.6
611.1
431.2
430.3
429.2
428.3
427.2
145.5
614.8
425.1
I
Other
U.S. Govt.
Demand
172.1
173.4
174.7
175.2
176.9
177.0
175.9
175.2
2.7
3.8
3.6
3.3
4.0
3.5
2.3
2.3
175.6
173.8
171.1
174.8
173.7
1.9
1.8
1.8
1.8
1.7
9.3
171.7
172.6
176.9
175.8
2.4
2.2
2.2
1.3
184.4
183.4
182.7
182.3
182.0
9.8
9.0
9.5
8.9
9.3
174.7
174.4
173.1
173.4
172.7
1.4
1.5
1.5
2.0
1.9
187.4
9.4
178.0
2.3
9.3
10.2
11.1
9.8
8.1
9.4
9.9
9.8
WEEK ENDTNG:
1979—A*>P.
4
11
IP
25
MAY
2
9
16
23
JUNE
SEE
|
REVERSE
SI0E
FOR
!
EXPLANATION
OF
FOOTNOTES.
9.5
10.4
H.a(502)
Page 2
Aggregate Reserves and Member Bank Deposits
AVERAGES OF DAILY FIGURES, IN BILLIONS OF DOLLARS
NOT SEASONALLY ADJUSTED
|
DEPOSITS SUBJECT TO RESERVE REQUIREMENTS
MEMBER BANK RESERVES j 7
Monetary
Period
I
1979—MAY
JUNE
JULY
AUG,
SEPT.
OCT.
NOV.
DEC.
•
1
1979—JAN.
FEB.
MAP.
APR.
MAY P
WEEK ENDING:
Basely
Required
Net
Demand
Other
Interbank
179.3
183.7
186.4
183.9
184.7
186.9
188.0
191.9
10.8
11.1
11.?
11.1
9.3
10.1
11.4
10.4
168.5
172.6
174.9
172.8
175.4
176.8
176.6
181.5
2.9
4.5
3.2
2.5
4.6
3.0
2.0
2.5
627.1
614.3
614.3
621.1
610.9
433.8
434.2
434.9
432.3
429.8
191.5
178.2
177.5
186.8
179.3
10.6
7.9
9.1
9.7
9.2
180.9
170.3
168.4
177.1
170.1
1.9
1.8
1.9
2.0
1.8
623.1
621.5
626.3
617.9
435.3
434.6
431.6
430.4"
186.0
185.4
191.7
185.7
13.8
9.4
10.1
8.5
172.2
176.0
181.7
177.2
1.8
1.4
2.9
1.7 *
615.9
611.1
610.9
608.7
608.1
430.0
430.1
430.0
430.0
429.7
183.9
179.3
179.4
176.5
176.6
9.2
8.5
8.9
8.0
9.0
174.7
170.7
170.5
168.5
167.7
615.9
427.3
186.8
9.5
177.3
36.86
37.13
38.05
37.40
37.61
38.22
39.42
41.45
132.2
133.5
135.7
135.2
136.2
137.5
140.5
144.6
588.3
596.8
600.6
599.2
605.9
608.4
615.1
624.0
43.08
40.70
40.22
40.72
40.25
42.08
39.73
39.23
39.81
38.49
42.87
40.49
40.06
40.55
40.09
144.4
141.9
142.3
144.2
144.5
40.43
' 39.45
41.29
40.83
39.56
38.82
40.34
39.84
40.04
39.29
41.13
40.72
143.2
143.5
145.3
143.8
41.81
40.59
40.61
39.61
39.82
40.59
39.1C
38.85
37.91
37.53
39.71
38.37
1
U.S. Govt.
Total
406.1
408.6
411.1
412.8
416.6
418.5
425.2
429.6
35.87
36.21
36.93
36.43
36.75
37.10
38.94
40.81
37,08
37.30
38.25
3^.57
37.81
38.38
39.65
*1.68
Private Demand Deposits
Time and
Savings
Total
1
j
1979—APR.
4
11
18
1
**
MAY
Nonborrowed
Total
j
2
\
9
J
16
23
1
30 P j
|
-
144.7
145.1
145.0
143.7
144.1
41.66
40.51
40.35
39.60
39.59
1
1
•*
j
2.0
1.7
1.5
2.2
1.8
1
JUNE
6 P
j
39.29
145.1
1.8
P - PRELIMINARY
1/
MEMBER BANK RESERVES SERIES REFLECTS ACTUAL RESERVES REQUIREMENT PERCENTAGES WITH NO ADJUSTMENT TO ELIMINATE THE EFFECT OF
CHANGES I N REGULATION D AND M. EFFECTIVE NOVEMBER 2 , 1 9 7 8 , A SUPPLEMENTARY RESERVE REQUIREMENT OF 2 PERCENTAGE POINTS WAS
IMPOSEO ON TIME DEPOSITS OF $ 1 0 0 , 0 0 0 OR MORE. THIS ACTION INCREASED REQUIRED RESERVES APPROXIMATELY $ 3 . 0 B I L L I O N I N THE WEEK
BEGINNING NOVEMBER 1 6 , 1 9 7 8 .
2/
INCLUDES TOTAL RESERVES (MEMBER BANK RESERVE BALANCES IN THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS E A R L I E R ) ; CURRENCY
OUTSIDE THE U . S . TREASURY, FEDERAL RESERVE BANKS AND THE VAULTS OF COMMERCIAL BANKS; AND VAULT CASH OF NONMEMBER BANKS.
NOTE:
BACK DATA ARE AVAILABLE FROM THE BANKING SECTION, D I V I S I O N OF RESEARCH AND S T A T I S T I C S , BOARD OF GOVERNORS 0*= THE FEDERAL
RESERVE SYSTEM, WASHINGTON, D . C . 2 0 5 5 1 .
H.3(502)
Page 3
Aggregate Reserves and Monetary Base
ADJUSTED FOR CHANGES IN RESERVE REQUIREMENTS^
AVERAGES OF DAILY FIGURES, IN MILLIONS OF DOLLARS
|
SEASONALLY ADJUSTED
1
MEMBER BANK RES ERVES
Period
NOT SEASONALLY ADJUSTED
MEMBER BANK RESERVES
M o n e t a r y Base
Total
Nonborrowed
Monetary Base
Required
Total
Nonborrowed
Required
1':
40,013
40,280
41,223
40,555
40,816
41,397
41,162
41,679
38,801
39,186
39,906
39,416
39,756
40,120
40,459
40,811
39,794
40,103
41,026
40,388
40,623
41,235
40,940
41,447
135,1615
136,481
138,641
138,204
139,184
140,535
142,028
144,579
143,400
143,345
143,893
144,486
144,971
43,080
40,704
40,218
40,725
40,251
42,078
39,731
39,227
39,808
38,494
42,866
40,495
40,060
40,549
40,095
144,429
141,866
142,337
144,190
144,547
40,382
39,962
40,759
40,348
144,453
143,458
144,655
144.324
40,431
39,449
41,289
40,830
39,564
38,821
40,340
39,839
40,043
39,293
41,131
40,717
39,958
39,072
38,881
38,547
38,041
41,025
40,486
40,383
40,233
40,093
145,324
144,553
144,938
144,723
145,327
41,812
40,589
40,608
39,614
39,824
40,595
39,101
38,849
37f911
37,534
41,662
40,515
40,351
39,597
39,586
39,148
40,075
145,478
39,706
38,366
39,293
40,208
40,597
41,099
40,928
41,223
41,399
41,274
41,271
38,996
39,503
39,782
39,788
40,163
40,122
40,570
40,403
39,989
40,420
40,902
40,760
41,031
41,237
41,051
41,039
41,479
40,754
40,815
40,647
40,494
40,476
39,781
39,825
39,730
38,737
41,264
40,545
40,657
40,471
40,339
4
11
18
25
40,770
40,118
40,917
40,461
39,903
39,490
39,968
39,470
2
9
16
23
30 P
41,175
40,560
40,640
40,250
40,331
6 P
40,488
1978—MAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.
*
1979—JAN.
FEB.
MAR.
APR.
MAY P
135,525
136,494
137,699
138,290
139,841
140,777
141,450
142,381
!
1
WEEK E N D I N G :
1979—APR.
MAY
JUNE
1/
i
•
|
1
!
j
143,197
143,469
145,301
143,777
144,725
145,121
144,992
143,673
144,122
145,123
friSut! ATIONS D AND M. 1 HISfdftlCAL t ATA AM6 A DESCRIPTION OP THE APJUSTMEMT
FOR BREAKS I N SEP IES DUE TO CH ANGEi I N
PROCEDURE ARE AVAILABLE FROM THE BANKING SECTION, DIVISION OF RESEARCH AND STATISTICS, BOARD OF GOVERNORS OF THE FEDERAL
RESERVE SYSTEM, WASHINGTON, D.C. 20551.
ADJUSTED
TABLE 1
AGGREGATE RESERVES AND MONETARY BASE
ADJUSTED FOP CHANGES IN RESERVE RPQUIPFMENTS
SEASONALLY ADJUSTED
NOT SEASONALLY ADJUSTED
MPMFTARY
' eASF
TOTAL
RESERVE'S
NONBORROWED
RESERVES
REQUIRED
RESERVES
107,565
107,939
108,557
108,485
108,902
109,926
110,166
110,715
111,143
111,545
112,507
112,958
38,307
36,804
36,415
36,852
36,304
3 6 , 2 59
36,469
36,061
36,237
36,276
36,527
36,944
108,505
106,881
107,430
108,298
108,595
109,802
110,840
110,642
110,635
111,178
112,909
114,694
38,160
36,610
36,215
36,694
36,148
36,058
36,281
3SR66
36,046
36,069
36,244
36,678
108,505
106,881
107,430
108,298
108,595
109,832
110,840
110,642
36,008
36,107
36,080
36,009
36,087
36,044
36,152
36,243
36,106
36,315
36,554
36,739
113,134
113,922
114,586
115,273
116,115
116,446
117,070
117,741
118,205
119,027
119,854
120,572
37,672
36,270
35,866
36,244
36,128
35,958
36,411
36,129
35,958
36,407
36,746
37,352
114,109
112,796
113,418
115,069
115,810
116,403
117,787
117,661
117,655
118,709
120,344
122,389
37,432
36,052
35,643
36,089
35,918
35,745
36,177
35,922
35,757
36,188
36,488
37,079
114,109
112,796
113,418
115,069
115,810
116,40^
117,787
117,661
117,655
118,709
120,344
122,389
37,201
37,109
37,118
37,334
37,267
37,217
37,614
37,157
37,647
37,248
37,880
38,354
37,004
36,982
37,007
37,216
37,265
37,332
37,662
38,017
38,063
38,343
38,491
38,733
121,428
122,001
122,527
123,483
124,056
124,511
12^,975
126,895
127,772
128,795
129,718
130,640
38,725
37,092
36,748
37,474
37,331
37,142
38,018
37,902
37,900
38,482
38,668
39,304
122,393
120,739
121,256
123,239
123,763
124,450
126,806
126,841
127,177
128,510
130,265
132,644
38,459
36r894
36,533
37,282
37,123
36,995
37,743
37,702
37,691
38,272
38,417
39,115
122,393
120,739
121,256
123,239
123,763
124,450
126,806
126,841
127,177
128,510
130,265
132,644
39,023
39,336
39,242
39,286
38,996
39,503
39,782
39,788
40,163
40,122
40,570
40,403
39,241
39,500
39,371
39,694
39,989
40,420
40,902
40,760
41,031
41,237
41,051
41,039
132,138
133,138
133,480
134,350
135,525
136,494
137,699
138,290
139,841
140,777
141,450
142,381
41,008
39,712
39,020
39,889
40,013
40,280
41,223
40,555
40,816
41,397
41,162
133,107
131,811
132,056
134,057
135,165
136,481
138,641
138,204
139,184
140,535
142,028
144,579
40,742
39,470
38,820
39,741
39,^94
40,103
41,026
40,388
40,623
41,235
40,940
41,447
133,107
131,811
132,056
134,057
135,165
136,481
138,641
138,204
139,184
140,535
142,028
144,579
NONBORROWED REQUIRED MONETARY
RESERVES
RESERVES
BASE
DATE
TOTAL
RESERVES
7<>G1
7502
7503
7504
7505
7306
7507
7508
7509
75)0
7511
7512
36,950
36,883
36,870
36,777
36,491
36,619
36,434
36,356
36,563
36,399
36,624
36,628
36,551
36,736
36,764
36,667
36,425
36,392
36,133
36,145
36,167
36,209
36,564
36,498
36,803
36,690
36,670
36,619
36,335
36,417
36,246
36,161
36,372
36,192
36,341
36,362
7601
7602
7603
7604
7605
7606
7607
7608
7609
7610
7611
7612
36,248
36,326
36,304
36,164
36,297
36,257
36,386
36,450
36,307
36,534
36,811
37,013
36,170
36,245
36,250
36,119
36,183
36,131
36,253
36,349
36,245
36,440
36,739
36,960
77C1
7702
7703
7704
7705
7706
7707
7708
7709
7710
7711
7712
37,269
37,180
37,222
37,407
37,474
37,480
37,<?36
38,217
38,272
38,554
38,742
38,923
7801
7802
7803
7804
7805
7806
7807
7808
7809
7810
7811
7812
39,507
39,741
39,570
39,843
40,208
40,597
41,099
40,928
41,223
41,399
41,274
41,271
"4"
'
110,635
111,178
112,909
114,694
N
TABLE 2
AGGREGATE RESERVES AND MONETARY BASE
AOJUSTEO FOR CHANGES I N RESERVE REQUIREMENTS
SEASONALLY AOJUSTEO
DATE
........
780104
780111
780118
780125
780201
7 8 0 2 08
780215
780222
780301
780308
780315
780322
780329
7 8 0 4 05
780412
780419
780426
780503
780510
780517
780524
780531
7 8 0 6 07
780614
780621
780628
780705
780712
780719
780726
780802
780809
780816
780823
780830
780906
7P0913
780920
780927
781004
781011
781018
7810?*
781101
781108
781115
781122
781129
781206
781213
781720
7
81??7
NOT SEASONALLY ADJUSTED
TOTAL
RESERVES
NONBORROWED
RESERVES
REQUIRED
RESERVES
MONETARY
BASE
TOTAL
RESERVES
NONBORROWED
RESERVES
REQUIRED
RESERVES
MONETARY
BASE
..—.—
.——.—.—.—
———————— — . . . — .
————
——————
——
—....—
39,286
39,114
39,891
39,588
39,571
39,947
39,819
39,745
39,434
39,499
39,482
39,653
39,598
39,814
39,541
40,191
39,641
40,151
40,148
40,174
40,128
40,405
40,115
40,719
40,800
40,494
41,509
40,339
41,801
40,900
41,050
40,704
41,102
40,^36
41,093
41,217
40,989
41,078
41,494
41,487
41,637
41,197
41,342
41,364
41,259
41,177
41,268
41,344
41,506
41,121
41,304
40,789
38,780
38,672
39,473
38,996
39,102
39,454
39,538
39,299
39,043
39,103
39,234
39,373
39,212
39,510
39,370
39,953
38,832
38,487
38,460
39,308
39,427
39,006
39,470
39,926
39,606
38,778
40,316
39,436
40,212
39,438
39,612
39,826
40,139
39,130
40,070
40,052
40,479
40,155
39,934
40,201
40,398
39,947
40,028
40,059
40,561
40,544
40,664
40,55?
40,808
40,530
40,737
39,376
38,999
38,809
39,630
39,273
39,413
39,577
39,641
39,453
39,314
39f2;35
39,351
39,505
39,363
39,507
39,553
39,886
39,698
39,836
39,965
40,168
39,881
40,006
40,066
40,606
40,574
40,326
40,790
40,566
41,429
40,937
40,697
40,689
40,779
40,745
40,824
40,912
40,876
40,903
41,271
41,364
41,287
41,316
41,023
41,251
40,918
40,932
41,118
41,191
41,179
40,969
41,067
40,844
131,577
131,556
132,457
132,347
132,547
133,127
133,188
133,221
133,038
133,199
133,307
133,699
133,903
134,116
133,766
134,580
134,379
135,149
135,230
135,445
135,515
136,060
135,856
136,593
136,795
136,654
137,864
136,849
138,342
137,552
137,957
137,779
138,456
138,267
138,932
139,401
139,479
139,706
140,374
140,542
140,801
140,62?
140,803
141,267
141,218
141,338
141,625
141,808
142,201
141,974
142,118
142,045
40,746
40,104
42,713
40,957
40,308
40,164
39,959
39,538
38,999
38,536
38,865
39,169
39,361
39,549
38,831
40,671
39,872
40,827
40,094
40,320
39,405
39,884
39,285
40,142
40,723
40,479
42,001
39,783
42,477
40,985
41 ,038
40,142
40,858
40,291
40,787
40,592
40,243
40,475
41,463
41 , 8 8 8
41,023
41,786
41,086
41,417
40,953
41,020
41,313
41,284
41,466
41,064
41,803
41,358
40,240
39,662
42,295
40,365
39,839
39,671
39,678
39,092
38,608
38,140
38,617
38,889
38,975
39,245
38,660
40,433
39,063
39,163
38,406
39,454
38,704
38,485
38,640
39,349
39,529
38,763
40,808
38,880
40,888
39,523
^9,600
39,264
39,895
3*8,6*5
39,764
39,427
39,733
39,552
39,903
40,602
39,784
40,536
39,772
40,112
40,255
40,387
40,709
40,492
40,768
40,473
41,236
39,945
40,459
39,799
42,452
40,642
40,150
39,794
39,781
39,246
38,879
38,272
38,734
39,021
39,126
39,242
38,843
40,366
39,929
40,512
39,911
40,314
39,158
39,485
39,236
40,0?9
40,497
40,311
41,282
40,010
42,105
41,022
40,685
40,127
40,535
40,300
40,518
40,?87
40,1?0
40,300
41,240
41,765
40,673
41,905
40,767
41,304
40,61:*
40,775
4 1 , 163
41,1?!
41,139
40,91?
41,566
41,413
133,971
133,137
134,950
132,326
131,287
132,439
132,289
131,a|2
130,6d2
131,548
132,058
132,388
132,314
133,339
133,426
134,975
133,603
135,042
135,598
135,601
134,376
135,176
135,675
1 3 6 , 5 82
136,877
136,253
139,512
137,838
139,920
137,799
137,940
138,443
138,848
137,964
137,805
139,539
139,911
138,689
139,063
140,369
140,822
141,184
139,927
140,213
141,637
142,009
14?,409
142,319
143,516
143,648
144,600
145,299
TABLE 3
AGGREGATE RESERVES AND MONETARY BASE
ADJUSTED FOR CHANGES I N RESERVE REQUIREMENTS
SEASONALLY ADJUSTED
DATE
TOTAL
RESERVES
790103
790110
790117
790124
790131
790207
790214
790221
790228
7903 07
790314
790321
7903 28
790404
790411
790418
790425
41»969
40,670
42,086
41,269
41,680
41,162
40,699
41,029
40,126
41,288
40,741
40,949
40,302
40,770
40,118
40,917
40,461
NONBORROWED
RESERVES
40,786
39,984
41,190
40,346
40,252
40,345
39,645
40,091
39,043
40,261
39,859
39,925
39,220
39,903
39,490
39,968
39,470
RFQUIREO
RESERVES
41,243
40,792
41,682
41,253
41,340
40,883
40,588
40,672
40,037
41,084
40,640
40,803
40,219
40,382
39,962
40,759
40,348
NOT SEASONALLY ADJUSTED
MONETARY
BASE
143*660
142,371
143,874
143,337
143,944
143,638
142,991
143,499
143,038
144 f 434
143,583
143,972
143,575
144,453
143,458
144,655
144,324
TOTAL .
RESERVES
NONBORROWED
RESERVES
REQUIRED
RESERVES
43,421
41,723
44,861
42,984
42,608
41,518
40,692
40,879
39,727
40,395
39,951
40,492
39,942
40,431
39,449
41,289
40,830
42,238
41,037
43,965
42,061
41,180
40,701
39,638
39,941
38,644
39,368
39,069
39,468
38,860
39,564
38,821
40,340
39,839
42,695
41,845
44,457
42,968
42,268
41,239
40,581
40,52?
39,638
40,191
39,850
40,346
39,859
40,043
39,293
41,131
40,717
MONETARY
BASE
146,144
144,315
146,458
143,734
142,600
142,764
142,019
142,211
140,385
142,643
142,161
142,603
141,622
143,197
143,469
145,301
143,777
@FedFRASER