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. ····<>i·~i.t"·.~··.- ----------~~-.......--------=---=------------.:!a =~ ~: ~.:---..·.~~~ ll,;st;.· ~-· FEDERAL RESERVE statistical release :_~~==~~:_::_:::~:_::~::~~~~~==~-=~~~~~~~~~~~~~~~~~----------------------------- ~~ ...... H.3(!102) Tablet JOJB AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY.AS& II• 1987 AdJusted lor chafiOH In ,....... raqul-ta' A-aoe• of dally llguraa, aeaaonally edJuated unleaa noted olllerwfae Mllllona of dollars total' o.ta ......_ of depoeltory lnatHutlona required nonborrowed plus nonbolrowed extended credlt1 excaaa NSA4 Monetary .,.... Borrowlnga of dlpoeltory lnalltutlons from the Federal Ra..,..., NSA extended credit aeaaonal total 1986--II.U JUIB JOLT lOG. SEPr. OCT. JOY. DEC. ll9,016 ll9. 726 50,690 51,501 52,302 53,225 511.1189 56.166 118,1110 48.923 49,950 50.628 51,.2911 52,384 53.737 55,340 118,725 49,454 SO,J:l8 51,0911 51,861f 52,881 511.155 55,6113 118,178 48,795 119,780 so. 761 51,576 52,1179 53.511 511,798 838 931 910 71l0 726 7116 978 1,369 226,933 228,605 230,8.2«> 232,281 234,426 236.875 239,513 876 803 7111 872 1,008 8111 752 827 911 108 116 1411 137 1987--Jll. FEB. Ill B. lPB.. lllf PE 56,884 56,873 56,852 57.9511 58,384 56.3011 56,317 56,325 56,961 57,348 56,529 56,600 56 0 589 57.231 57,636 55,816 55,662 55,936 57,127 57,236 1,068 1.211 916 827 1,148 2112.431 243.970 244,563 246,586' 2118,379 580 556 527 993 1,035 34 71 91 120 196 225 283 264 270 288 22 58.023 57,067 57.3311 57,219 804 246,8113 956 110 267 6 20 p 58,733 58,069 57,3211 57,239 !H,622 57,515 57,711 57.006 1,016 1.063 2118,078 248,058 1,1110 830 159 190 299 276 58,5911 57,501 57,798 57,267 1.327 248.953 1,0911 226 297 225,332 99 70 38 5811 531 378 465 570 1197 1118 303 TIO IBBKS EIDIIG --------1987-lPB.. lllf JUII 3 PE P---PIIELIII.lllBf PB--PI!L.liiiilBI ESTIIIlrB 1/ &ESIBVBS liD IIOIETlllf BlSB PIGUBBS IICOBPOBlTE lDJUSTBBIIS FOB DISCOITIJUITIES lSSOCilTBD liTH THE IIIP£BBBIT1TIOJ OF TBB IIOIETlBJ COITROL lCT liD OTHER REGOLlTO&f Cllli&BS TO BBSBBVE RBQUIBEIIBHTS. TO ADJUST FOB DISCOITIIUITIBS DUB TO CBliG&S II 'BBS&BfE &EQUIBBIIEITS 01 BESBBflBLE IOIDEPOSlT LllBILITIES 0 THE SUI! OF SUCH BBQUIBED RBSBBf8S liE SU8TBACTED FBOII ~BB ACTUAL SBBIBS. SIIIILABLfo II ADJUS~IIG FOR DISCOITIIOiriES II TIE ftOIBrlRJ BASE, BIQUIBED CLilRliG BlLliCIS liD ADJUS~ftEI~S TO COftPEISlTB PO& lLOlT ALSO liB SOBTBlCTBD FBOft THE ACTUAL SIBI£5. 2/ TO~AL BBSBRVES JOT ADJOSTBD FOR DISCOITIRUI~IBS COISISTS OF RESERVE BlLliCES liTH PBDBBAL BISEifB B&I&S (IRICK BICLUDE RIQUlRED CLBlBIIG 8&Ll1CES liD lDJUSTREITS TO COIPBHSlTE FOB FLOAT) PLUS VlULT ClSR USED TO SlTISPf RESEBfE BEQUIBEREITS. SUCH fAULT ClSB COISISTS OF lLL VlULT CASH HELD DU&IIG TIE LlGGED COIIPUTlTIOI PERIOD Bf IISTITUTIOIS HlfiiG REQUIRED BBSBRVB BlLliCBS lT lBDEBAL RESERVE BAliS PLUS THE liiOUIT Of flDLT CASH BQUAL TO REQUIRED RESERVES DURING THE ftliHTBIAJCB PERIOD lT IISTITDTIOHS BlfiiG 10 BIQUIRED RBSEBfB BlLliCES. 3/ BITBIDBD CBBDIT COISISTS or BOBBOIIIG lT TBI DISCOUIT lliDOI OlDER TBI TBBftS AID COIDI~IOIS ESTlBLISBBD FOB THE EITBIDED CBBDII PROGB&ft TO HELP DEPOSI~OBY IISTlTUTIOIS DilL WITH SUSTliHBD LIQUIDITY PBBSSUBES. BBClUSE ~BIBB IS lOT THE SlftE HIED TO BBPlf SUCH BOBROVIIG PROIIPTLf AS THERE IS liTH T&lDITIOilL SHORT-TBBR lDJUSTRBIT CREDIT 0 THE lOllY ftABIBT IIIPlCT OP EXTENDED CREDIT IS SlftiLll TO THAT OP HO"BOBROVBD BESEBVES. ' I BBSBRVB BlLliCBS liTH PBDERAL RBSEBfE BillS PLUS flULT ClSB GSBD TO S&TISPI BISBBfB RBQUIRBII~ITS LESS BEQDIBBD BBSEBfES. 5/ ~BB !OIBTlBf BAS& JOT lDJUST&D fOR DISCOITIIUITIES COISIS~S OF TGrAL RESERVES PLUS REQUIRID CLBlBIJG BlLAICES lJ.D lDJUSTIIBITS TO COIIPEISlTE POl FLO&~ AT FEDERAL RESEBVI Bli&S PLUS THE CURBBICf COIIPOIEIT OF THE 80111 S.QCI LESS THE 18001~ OF flULT ClSH BOLDIIGS OP ~HBIPT IHSTITUTIOIS THAT IS INCLUDED II THE CUBBEICJ COftPOHEI~ OF THE BOIEJ STOCI PLUS 0 lOB IISTITUTIOIS HOT BAfiiG BBQUIIED BESBBfC BlLliCES, THE EXCESS OF CUIIBEIT fAULT CASH OYER THE ABOUIT APPLIED TO SlTISfl CUBREIT RBSEBVI BIQUIRBBBITS. lPTBB THB lHTkODUCTIOI OF CBB, CUBBEICJ AID VAU~T CASH fiGURES liB IIEASURED OVER THE IIOHDAJ-BIDING CORPUTArlOH PERIOD. PBIOB TO CBR, lLL COftPOHBITS OF THE lfONBTABf BASE OTHER THAM EXCESS BESEBfES AR! SBlSOilLLf ADJUSTED AS A WHOLE, BlTBER THAI BY COIIPOIEHT 0 AID EXCESS RESERVES IS ADDED 01 A ROT SElSONALLJ ADJUSTED BASIS. AFTER CRR, THE SEASOIALLJ ADJUSTED SBRIIS COIIISISTS or SllSOHlLLl ADJUSTED fOTAL RESERVES (IIHrr·~ IIICLIJOES "YCESS RESERVES ON l lOT SEASONALLY ADJUSTED BASIS) PLUS THE SEASOHALLf AOJUSTKD CUBBEICY CO~POMENT OF THh ~ORBJ STOCI PLUS 1 ·~ REftAINING ITE~S SEASONALLY ADJUSTEU AS A WHOLE. BOTE: HISTORICAL DATA ARE AVAILABLE fBOn THE HANKIN<; SECTION, DrVISIUN oF RESEARCH AND STATlSTlLS, BOARD OF GOVERNORS OP THE FEDERAL RESERVE SYSTEft, WASHINGTON, D.c. 20551 H.3 (502) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE No I adJusten for_ changes in res!rve requirements} Averages of daily figures, not seasonally adjustm1 Millions of dollars Monetary base' Date total non borrowed total required 1&8,1&19 119,938 51,029 51,277 53,189 54,o2J 56,399 59,560 117,5113 119,135 !)0,288 50,405 52,180 53,782 55,6117 58, 7JJ 117,51H 49,007 50,118 50,538 52,463 53,817 55,421 58,191 226,115 229,675 232,546 23J,l15 235,067 237,257 2111,267 .247,707 28,279 59,668 57,060 57.061 59,393 58,372 59,066 So,SOJ 56,534 56,400 57,JJ6 58.600 55,849 56,146 58,5&6 57,224 246,752 2114,.220 2114,978 249.241 2119,961 36,584 33,625 35,118 36,492 23,759 23,353 23,693 22 60.506 59,550 59,703 250,991 38,746 6 59,131 58,130 57,721 57,300 58,115 57,067 249,2311 249,982 37.612 36,329 58,266 57,172 56,939 250,331 16,089 1986--IUt JUliE JULY AUG.. SEPT. ocr. NOV. DJI:C.. 1987--JlL PEB. II All. APL ll.lt PI 29,1199 30,313 30,165 31,922 32,947 34,801 37,360 31,801 22,474 22,804 23,098 23,1151 23,3811 23,753 23,5tU 24,071 20. 140 .20,439 ;l0,71b 21,11.2 21,lo 1 21,676 l1. 59!) 22. 199 2,334 2,165 2,381 2,339 2,117 2,078 1,91tl 1, 672 25,049 23,084 23,1&35 21,743 21,58 7 21,880 1,965 2,451& 2,016 1, 767 1,613 23,1179 21, 7o 1 1, 719 9 23,289 23,552 21,519 21,801 1, 770 1, 751 51 64 24,094 22,111 25,889 no IIBKS BIDIIIG --------1987-APL. liU. ~0 JOIIB p 3 PI ----------'------ - - - - - - - - - ' ------------- P---P8&Lll1Ul8Y PI--PBILIBIJABY BSTIIIATB. 1/ BEPLBCTS lCTUlL 8JI:SI8JB 8BQUIBBIIBITS, IIICLUDIIG THOSB ON IOIDBPOSIT LIABILITIES. VITH 10 lDJUSTIIBNTS TO ILIIIIIATB THI IPPBCTS 01' DISCOITIIUITIIS ASSOCIATED VITH IIIPLBIIITATIOJ OF THI IIOJITlBI COITBOL ACT 08 OTHER REGULATOR! CBliGBS TO BBSBB¥1 BIUOIRBftBJTS. 2/ COISISTS or TOTAL BBSBBIBS PLUS RBQUIBID CLElBIIG BlLAICBS liD ADJUSTIIBJTS TO COIIPBISATB FOB PLOAT lT PBDBRlL BISBBJB BAlKS PLUS TRI CUBBIICl COBPONEIIT OF TUB ftOIIBI STOCK LESS THE AIIOOIT or fAULT CASH HOLDIIGS or THBIPT IISTITOTIOIS THAT IS IJCLUDID II TBI CUBRBICl COBPOIBIT or THE liOIIf STOCK PLUS, !'OR IIISTITUTIOIS NOT BAJIJG REQUIRED RISBRIB BlLliCBS, THI BICBSS OF CORBBIT YlOLT CASH 0111 THB AIIOOJT APPLIED TO SlTISFt CURRENT RESERIE BBQUIREIIBITS. AFTER THE IITRODOCTIOJ OF CIB, CDBBEJCI liD YAULT CASH PIGUBBS ARB IIIASOBID OVER THB BOID&I-BJDIIG COIIPUTATIOI PERIOD. l/ BICLODBS RBQUIBED CLE!BIIG BlLAICES AID lOJUSTIIIJTS TO COIIPEIISATI 1'08 PLOAT. ' I DATES BBPBR TO THE llliiTBiliCB PERIODS IN WHICH THE fAULT ClSH CAll BB USED TO SlTISPY BBSERIB RBQUIBEIIBITS. UNDER COITEIPORAIBOUS RISBBJB BIQUIBBIIEITS, ftliJTEBAIICE PERIODS BID JO DAIS lPTER THB LAGGED COftPUTATIOM PERIODS II VBICB THB BlLAICBS ABE HELD. 5/ EQUAL TO lLL flULT CASH HELD DUBIIG THE LAGGED COIIPOTATIOI PERIOD Bl INSTITUTIONS RAIIIG REQUIRED RBSBBJB BALAJCBS l! FIDBBlL RBSEBfl BAliS PLUS THB lBOUIT OF VAULT CASH EQUAL TO REQUIRED RESERVES DURIIG THE ftllNTIIIliiCB PERIOD AT liSTirUTIOIS HAVIJG 10 BJI:QUIBED RESERVE BALANC&S. 6/ TOTAL VAULT CASH AT INSTITUTIONS HAYING NO REQUIRED RESEBYB BALAJCBS LESS THE AIIOUMT OF VAULT CASH EQUAL TO THEIR BBQUIBED RESEBJBS DURING TP.B llliNtEIIANCE PEHlOD. 11 CONSISTS OF CABRIOVBB OIILl AT DEPOSITORY INStiTUTI08S IIAINTliNlNG RBSEBVIS ON TRB BASIS OF TWO-W~EK IIAINTEIANCE PERIODS. BEFLBCT~ ElCBSS I•) OR OBFIC14 (-) ~85BHVES ELIGIBLE TO 8£ CARRIED FORWARD INTO THE TWO-WEEK MESERVE IIAINTEN.liiCB PERIOD I>IIDIIIG C!'l THE OAn: SHOWN. 204 H.3 (502) Table 3 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjusted for changes in reserve requirements 1 Averages of daily figures, not seasonally adjusted Millions of dollars Date total 1986-llli JOIB JOLI AUG. Reserves of depository institutions non borrowed 48,157 119,645 so. 769 51,082 52,019 Monetary base required 54,591 57,636 47,281 48,842 50,028 50,210 51,011 51,98" 53,8160 56,809 47,319 48,714 119,859 S0,34J 51,293 52,080 5.1,6116 56,267 .a4,10!J 227,541 lJO,SH 231,278 232,6.168 233,605 231,1191 216J,6l0 58,731 56,088 56,068 58,372 57,332 58,151 55,532 55,541 57,379 56,297 57,663 54,877 55,152 57,544 56,185 ..!IU, Ill.! 240,817 241,925 24.,066 246,83!1 22 5!1,431 58,475 58,627 247,7Jo 6 20 p 58, 1JJ 57,278 56,724 56,4169 57,111 56,215 246,016 247,134 J p 56,964 55,871 55,6J7 24o,9U SEpt. oa. ~2.826 I OJ. DBC. 1987-JU. PBB. lA&. API. Ill! PB TIIO liBElS BIDIIG ---------1987-APB. 1111 JOIB P---PBBLIIIUIY ~-------- ··-- ~ ---·· ···--·- ESTZ!ATE. .lGUa&S i&r~BCT ADJUSTftEITS POl DISCOITIIUITI£S ASSOCIATED IZTH THE I!PLB!EITATIOI OP THE ftOI~Tlll COITIOL &Cr AID OIHB8 IIGOLAT081 CHIIGES TO BISB8JB BBQOIBBIEITS. IE--PIB~I!IIAI! 1/ ·-----------
@FedFRASER