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LIBRARY FEDERAhwFlfiSfeRVE statistical release H.3 (502) For Immediate Release Table 1 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve requirements! Averages of daily figures Reserves of depository Institutions total2 non borrowed required Period millions of dollars seasonall / adjusted JUNE 2 0 , Monetary base3 billions of dollars Reserves of depository institutions non borrowed | required total2 millions of dollars not seasonally adjusted 1983 Monetary base3 billions of dollars 1 9 8 2 — HAT JONB JOLI AUG. SEPT, OCT. NOV. DEC 38.773 38,955 39,007 39,205 39,656 39,932 40,408 40,783 37,656 37,750 38,315 38,690 38,723 39,454 39,787 40,149 38,414 38,647 38,693 38,893 39,273 39.528 40,006 40,283 168.2 169.3 169.9 170.9 172.1 173.2 174.3 175.6 38,284 38,164 38,530 38,609 39,356 39,997 40,679 41,560 37,167 36,960 37,838 38,093 38,423 39,519 40,058 40,926 37,925 37,856 38,216 38,296 38,973 39,592 40,277 41,059 167.3 168.5 170.4 170.7 171.7 173.2 175.4 178-9 1983—JAN. FEBNAB. APR. MAY. 40,119 40,341 41,003 41,302 #1,258 39,589 39,758 40,210 40,293 40,303 39,571 39,905 40,570 40.826 40,790 176.3 178.0 180.2 181.2 182.8 42,216 40,227 40,230 41,048 40,726 41,686 39,644 39,438 40,039 39,771 41,668 39,791 39,797 40,572 40,258 177.7 175.9 177.7 180.3 181.7 4 11 18 25 41,599 40,801 41,109 41,304 40,674 40,094 40,036 40,353 40,997 40,393 40,731 40,854 182.5 181.9 182-7 183.0 42,016 40,389 40,544 40,495 41,091 39,682 39,471 39,544 41,414 39,981 40,166 40,045 181.7 181.9 181.7 181.0 1 P 8 P 15 P 41,683 41,497 41,294 40,550 40,591 39,482 41,106 40,840 40,930 184.0 184.0 183.6 40,741 40,047 40,319 39,608 39,141 38,507 40,164 39,390 39,955 182.3 183.3 183.1 . MEEK E N D I N G : 1 9 8 3 — MAY. JUNE 1/ 2/ 3/ RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OF HEMBER 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 HAVB BEEN REMOVED. RESERVE BALANCES IITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT INSTITUTIONS WITH RBQUIRED HESERFE 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. 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 TaWe2 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 1982—BAI JOIB JOLT AUG. SEPT. OCT. NOV. DEC. 39,550 39,565 39,967 40,178 39,962 40,587 41,199 41,853 38,433 38,360 39,275 39,662 39,028 40,109 40,578 41,219 39,191 39,257 39,653 39,866 39,578 40,182 40,797 41,353 169.1 170.5 172.4 172.8 172.4 173.8 176.0 179.3 1983—JAB. FEB. BAB. APB. BAI. 41,864 39,798 38,035 38,650 38,302 41,334 39,215 37,243 37,640 37,347 41,316 39,362 37,602 38,174 37,834 177.9 176.0 175.9 178.4 179.8 4 11 18 25 39,537 37,980 38,133 38,070 38,612 37,273 37,060 37,119 38,935 37,572 37,755 37,620 179.8 180.0 179.8 179.1 1 P 8 P 15 P 38,322 37,688 37,955 37,189 36,782 36,143 37,745 37,031 37,591 180.4 181.5 181.3 WEEK ENDING: 1983—BAI. JOBE 1/ 2/ 3/ BESEEVES OF DEPOSITOBI INSTITUTIONS SEBIES BEFLBCT ACTUAL BESEBTE BEQOIBEBBBT PEBCEBTAGBS WITH BO ADJUSTMENTS TO ELIMINATE THE EFFECT OF CHANGES IB BEGOLATIOB D, INCLUDING CBABGES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTBOL ACT. INCLUDES REQUIRED BESEBVBS OF MEMBER BANKS ABD EDGB ACT COBPOBATIOBS AND, BEGIBNXNG NOTEHBEB 13, 1980, OTHEB DEPOSITORY INSTITUTIONS- UNDEB THE TRANSITIONAL PHASE-IB PROGRAM OF THE HOBETABI CONTROL ACT OF 1980 AND PBO?ISIOBS OF THE DEPOSITOBY INSTITUTIONS ACT OF 1982, THE BET CHARGES IB BEQUIBED BESEBTES OF DEPOSITOBI INSTITUTIONS HAVE BEEN AS FOLLOWS: EFFECTIfB NOTBHBBH 13, 1980, A REDUCTION OF $2.9 BILLION; FEBBUABT 12, 1981, AB INCREASE OF $245 BILLION; BABCH 12, 1981, AB INCBEASE OF $75 BILLION; BAT 34, 1981, AN INCBBASB OF $245 BILLION; SEPTEMBER 3, 1981, A BEDUCTIOB OF $1.1 BILLION; BOVEBBEB 12, 1981, AN IBCBEASE OF $210 MILLION; JABUABT 14, 1982, A BEDUCTIOB OF $60 BILLION; FEBBUABT 11, 1982 AN IBCBEASE OF $170 BIILIOH; BABCH 4, 1982, AB BSTIBATED BEDUCTIOB OF $2.0 BILLIOB; BAY 13, 1982, AB ESTIMATED INCBEA5I OF $150 BILLIOB; AUGUST 12, 1982, AB ESTIBATED INCBEASE OF $140 BILLION; SEPTBBBEB 2, 1982, AB ESTIHATBD REDUCTION OF %\,2 BILLIOB; OCTOBBB 28, 1982, AN ESTIMATED BEDUCTIOB $100 BILLIOB; DECEMBER 23, 1982, AB ESTIBATBD BEDUCTION OF $800 BILLIOB; ABD BABCH 3, 1983, AB ESTIMATED SEDUCTION OF $1.9 BILLIOB. BEGINNING WITH THE WEEK ENDBD DECBBBEB 23, 1981, BESEBTE AGGHBGATES HATE BEEN BEDUCED BI SHIFTS OF BESEBTABLE LIABILITIES TO INTEBBATIOBAL BASKING FACILITIES (IBFS). ON THE BASIS OF BBPOBTS OF LIABILITIES TBANSFBBBED TO IBFS BY U.S. COMMERCIAL BANKS ABD AND AGENCIES AND BRANCHES OF FOREIGN BABKS, IT IS ESTIMATED THAT BEQUIBED BESEBTES WEBE LOWERED OB AVERAGE BY $60 TO $90 BILLION IN DBCEHBEB 1981 AND $180 TO $230 BILLION IN JANUABY 1982, MOSTLY BEPLECTIBG A BEDUCTIOB IN BESEBTABLE EUBOCUBBENCX TRANSACTIONS. ALSO, BEGINNING WITH THE WEEK ENDING APBIL 20, 1983, BEQUIBED RESEBVES WEBE BEDUCED AN ESTIMATED $80 MILLION AS A BESULT OF THE ELIMINATION OF BESERVE REQUIREMENTS ON NONPEBSONAL TIBE DEPOSITS WITH MATDBITIES OF 2-1/2 IEA8S OB HOBE TO LESS THAN 3-1/2 YEARS. RESERVE BALANCES WITH FBDEBAL BESEBVE BANKS (WHICH EXCLUDED BEQUIBED CLEABING BALANCES) PLUS VAULT CASH AT INSTITUTIONS WITH BEQUIBED BESEBTE BALANCES PLUS TAOLT CASH EQUAL TO BEQUIBED BESEBTES AT OTHEB INSTITUTIONS. INCLUDES BESEBTE BALANCES AND BEQUIBBD CLEABING BALANCES AT FEDEBAL BESEBTE BANKS IN THE CUBREBT WEEK PLUS TAULT CASH HELD TWO WEEKS EABIIBR USED TO SATISFY BESEBTE BEQUIBEBENTS AT ALL DEPOSITORY INSTITUTIONS PLUS CURRENCY OUTSIDB THE U.S. TREASURY, FEDEBAL BESEBTE BANKS, THE TAULTS OF DEPOSITOBI INSTITUTIONS, ABD SUBPLUS TAULT CASH AT DEPOSITOBY INSTITUTIONS.
@FedFRASER