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FEDERAL RESERVE statistical release H.3 (502) For Immediate Release Table 1 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve requirements1 Averages of daily figures Reserves of depository institutions tota|2 non borrowed required Period millions of dollars seasonally adjusted Monetary base3 billions of dollars JOHE 6, Reserves of depository institutions total2 non borrowed | required millions of dollars not seasonally adjusted 1983 Monetary base3 billions of dollars 1982—HAI JOHE JULY AUG. SEPT, OCT. HOV. 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—JAH. FEB. MAR. APRHAY. P 40,119 40,341 41,003 41,302 41,271 39,589 39,758 40,210 40,293 40,316 39,570 39,905 40,570 40,826 40,797 176.3 178.0 180.2 181.2 182-9 42,216 40,227 40,230 41,048 40,739 41,687 39,644 39,438 40,039 39,784 41,668 39,791 39,797 40,572 40,265 177.7 175.9 177.7 180.3 181.8 4 11 38 P 25 P 41,599 40,854 41,148 41,337 40,674 40,147 40,074 40,386 40,997 40,393 40,741 40,877 182.5 182.0 182.8 183.0 42,016 40,442 40,583 40,527 41,091 39,735 39,509 39,576 41,414 39,981 40,176 40,067 181.7 182.0 181.8 181.0 1 P 41,606 40,473 41,106 184.1 40,664 39,531 40,164 182.4 HEEK EHDIHG: 1983—HAY, JUHE 1/ 2/ 3/ RESEBFE AGGBEGATBS IHCLODE BEQOIBED BESEBYES OF MEMBEB BAHKS AHD EDGE ACT COHPORATIOHS AHD OTHER DBPOSITOBY IHSTIT0TIOHS. DISCOHTIHOITIES ASSOCIATED HITH THE IMPLEHEHTATIOH OF THE HOHETABI COHTBOL ACT, THE IHCLOSIOH OF EDGE ACT COBPOBATIOH BESEBfES, AHD OTHEB CHARGES IH BEGOLATIOH D HAVE BEEH REMOVED. RESERVE BALAHCES BITH FEDERAL RESERVE BAHKS (BHICH EXCLUDE BEQOIBED CLEARIHG BALAHCES) PLOS VA0LT CASH AT IHSTIT0TIOHS WITH BEQOIBED BESEBfB BALAHCES PLOS VAULT CASH EQUAL TO BEQOIBED BBSERVES AT OTHEB IHSTITUTIOHS. IHCLODES HESERVE BALAHCES AHD REQUIBED CLBABIHG BALAHCES AT FEDEBAL BBSERVE BAHKS IH THE CUBREHT iEEK PLUS VAULT CASH HELD THO HBEKS EARLIER USED TO SATISFY BESERVE BEQUIBEBEHTS AT ALL DEPOSITORY IHSTITUTIOHS PLUS CURREHCY O0TSIDE THE U.S. TREASURY, FEDERAL RESERVE BAHKS, THE VAULTS OF DEPOSITORY IHSTITUTIOHS, AHD SURPLUS VAULT CASB AT DEPOSITORY IHSTITUTIOHS. HOTE: HISTORICAL DATA ARE AVAILABLE FBOH THE BAHKIHG SECTIOH, DIVISIOH OF HESEABCH AHD STATISTICS, BOABD OF GOVEBHORS OF THE FEDERAL RESERVE SYSTEM, HASHIHGTOH, 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 1 9 8 2 — HAT JOHE JULY A0G. SEPT. OCT. HOY. DEC. 39,550 39,565 39,967 40,178 39,962 #0,587 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 1 9 8 3 — JAH. FEB. MAR. APB. HAT. P 41,864 39,798 38,035 38,650 38,314 41,334 39,215 37,243 37,640 37,359 41,316 39,362 37,602 38,174 37,840 177.9 176.0 175.9 178.4 179.9 a 11 18 P 25 P 39,537 38,033 38,171 38,100 38,612 37,326 37,097 37,149 38,935 37,572 37,764 37,640 179.8 180.1 179.9 179.1 1 P 38,245 37,112 37,745 180.5 iEEK ENDING: 1983—HAY. JUHE 1/ 2/ 3/ HESBBYES OF DEPOSITOHY IHSTIT0TIOHS SEBIES REFLECT ACTUAL BESEBYE REQOIBEMEHT PEBCEHTAGES HITH HO ADJ0STHEHTS TO ELIMINATE THE EFFECT OF CHARGES IH BEG0LATIOH D, INCLUDING CHAHGES ASSOCIATED WITH THE IHPLEflEHTATIOH OF THE HOHETABY CONTROL ACT. INCLUDES REQUIRED RESERVES OF HEHBEB BANKS AHD EDGE ACT CORPORATIONS AHD, BEGIHHIHG HOYEHBEB 13, 1980, OTHEB DEPOSITORY IHSTITOTIOHS. OHDEH THE TBAHSITIOHAL PHASE-IH PHOGBAH OF THE HONETABY COHTBOL ACT OF 1980 AHD PBOYISIOHS OF THE DEPOSITOBY IHSTITOTIOHS ACT OF 1982, THE HET CHAHGES IH REQUIBED BESEBYES OF DEPOSITOBY IHSTITOTIOHS HAYB BEEH AS FOLLOWS; EFFECTIYE HOYEHBEB 13, 1980, A BEDOCTIOH OF $2.9 BILLIOH; FEBBOABI 12, 1981, AH IHCBEASE OF $245 flILLIOH; HABCH 12# 1981, AH IHCBEASE OF $75 HILLIOH; HAY 14, 1981, AH IHCBEASE OF $245 HILLIOH; SEPTBHBBB 3m 1981, A BEDOCTIOH OF $1.1 BILLIOH; HOYBHBEB 12, 1981, AH IHCBEASE OF $210 HILLIOH; JAHOABY 14, 1982, A BEDOCTIOH OF $60 HILLIOH; FEBBOABY 11, 1982 AH INCREASE OF $170 HIILIOH; HABCH 4, 1982, AH ESTIHATED BEDOCTIOH OF $2.0 BILLIOH; HAY 13, 1982, AH ESTIHATED IHCBEASE OF $150 HILLIOH; AOGOST 12, 1982, AH ESTIHATED IHCBEASE OF $140 HILLIOH; SEPTBHBBB 2, 1982, AH ESTIHATED BEDOCTIOH OF $1.2 BILLIOH; OCTOBEB 28, 1982, AH ESTIHATED BEDOCTIOH $100 HILLIOH; DBCEHBEB 23, 1982, AH ESTIHATED BEDOCTIOH OF $800 HILLIOH; AHD HABCH 3, 1983, AN ESTIHATED BEDOCTIOH OF $1.9 BILLIOH. BEGIHHIHG HITH THE WEBK EHDBD DECEHBEB 23, 1981, BESEBYE AGGREGATES HAVE BEEH BEDOCED BY SHIFTS OF BESERVABLE LIABILITIES TO IHTEBHATIOHAL BANKING FACILITIES (IBFS). ON THE BASIS OF BBPORTS OF LIABILITIES TBAHSFBHHED TO IBFS BY O.S. COHHEBCIAL BAHKS AHD AHD AGEHCIES AHD BBAHCHES OF FOBEIGH BAHKS, IT IS ESTIHATED THAT BEQOIBED RESERVES HEBE LOHEBED OH AYBBAGE BY $60 TO $90 flILLIOH IH DECEHBEB 1981 AHD $180 TO $230 HILLIOH IH JAHOABY 1982, HOSTLY HEFLECTIHG A BEDOCTIOH IH BESERVABLE EOBOCOBBEHCI TBAHSACTIOHS. ALSO, BEGIHHIHG HITH THE HEEK BHDIHG APHIL 20, 1983, BEQOIBED RESERVES HEBE BEDOCED AH ESTIHATED $80 HILLIOH AS A BESOLT OF THE ELIMINATION OF BESEBYE REQOIREHEHTS OH HOHPEBSOHAL TIME DEPOSITS HITH HATOBITIES OF 2-1/2 IBABS OH HOBS TO LESS THAH 3-1/2 IEAHS. BESEBYE BALAHCES HITH FEDEBAL BESEBYE BAHKS (HHICH EXCLODED BEQOIBED CLBARIHG BALAHCES) PLUS YAOLT CASH AT IHSTITOTIOHS HITH HEQOIBBD BESEBYE BALAHCES PLOS YAOLT CASH EQOAL TO BEQOIBED BESEBYES AT OTHEB IHSTITOTIOHS. IHCLODES BESEBYE BALAHCES AHD BBQOIBBD CLEABIHG BALAHCES AT FEDERAL BESEBYE BAHKS IH THE COHBEHT HEEK PLOS YAOLT CASH HELD TflO HEEKS EARLIER OSED TO SATISFY BESEBYE HEQOIHEHBHTS AT ALL DEPOSITOHI IHSTITOTIOHS PLOS COBBBHCY OOTSIDE THE O.S. TBEASOBY, FEDEBAL BESEBYE BAHKS, THE YAOLTS OF DEPOSITOBY IHSTITOTIOHS, AHD SOBPLOS YAOLT CASH AT DEPOSITOBY IHSTITOTIOHS.
@FedFRASER