Full text of H.3 Aggregate Reserves of Depository Institutions and the Monetary Base : June 21, 1982

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FEDERAL RESERVE s|atistical%^ease
&

H.3 (502)

For Immediate Release

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Table 1

JUNE 2 1 , 1982

AGGREGATE RESERVES OF DEPOSITORY INSTITl^l6NS|A|lttil^^tARY BASE
Adjusted for changes
chanaes in reserve requirements
reauirements!
Averages of daily figures
Reserves of depository institutions
total 2
non borrowed
required
Period
millions of dollars
seasonal h/ adjusted

^
Monetary base3
billions of dollars

Reserves of depository institutions
total2
non borrowed
required
millions of dollars
not seasonally adjusted

Monetary base3
billions of dollars

1981—MAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.

39,627
39,619
39,727
39,810
40,312
40,118
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.
MAY

P

41,277
40,927
41,089
41,182
41,337

39,759
39,137
39,533
39,614
40,219

40,859
40,623
40,728
40,908
40,972

167.4
167.9
168.5
169.8
171.1

42,696
40,735
40,533
41,086
40,991

41,178
38,946
38,977
39,518
39,873

42,278
40,432
40,172
40,813
40,627

168.5
166.1
166.5
168.9
170.5

5
12
19
26 P

41,684
41,028
41,379
41,149

40,185
39,911
40,413
40,103

41,240
40,764
40,939
41,050

170.6
170.2
171.1
171.2

42,118
40,750
41,041
40,399

40,619
39,633
40,075
39,353

41,674
40,486
40,601
40,300

170.4
170.4
170.5
169.3

2 P
9 P
16 P

41,625
41,030
41,428

40,573
39,724
40,497

40,933
40,854
41,235

172.3
171.5
172.4

40,962
39,878
40,839

39,910
38,572
39,908

40,270
39,702
40,646

171.2
171.4
172.1

WEEK ENDING:
1982—HAY

JUNE

P - PRELIMINARY
1/ RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OF MEMBER 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 HAVE BEEN REMOVED. BEGINNING WITH THE
WEEK ENDED DECEMBER 23, 1981, RESERVES 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 $10 TO $20 MILLION IN DECEMBER 1981 AND $40 TO $70 MILLION IN JANUARY 1982.
2/ 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.
3/ 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
Table 2

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

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.
NAR.
APR.
MAY

P

43,203
41,286
39,234
39,558
39,557

41,685
39,496
37,678
37,990
38,439

42,784
40,982
38,873
39,284
39,193

169.1
166.8
165.4
167.6
169.3

5
12
19
26 P

40,559
39,158
39,715
39,036

39,060
38,041
38,749
37,990

40,115
38,894
39,275
38,937

169.1
169.1
169.4
168.2

2 P
9 P
16 P

39,624
38,581
39,537

38,572
37,275
38,606

38,932
38,405
39,344

170.1
170.3
171.0

WEEK ENDING:
1982—MAY

JUNE

1/

2/
3/

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; JANUABY 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 TNSTTTfTTTnws PT.n