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FEDERAbfRE9ERVE statistical release •f*»n£^ Per I*1*«M at 4:13 H.3BM) T*M«1 HABCH Euttrn T1M 1, 1980 AQQREQATE RESERVES OF 1DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adfuttad for changaa In w i i f w raquirafnanta Avaragaa of dally flguras, saaaonalty adjuatad untaas notad otharwias MiWona of dollars Data 1983—JAN. FEB. NAB. APR. HAT JUNE JULY AUG. SEPT. OCT. NOV. DEC. 1984--JAN. FEB. TWO WEEKS' ENDING 1984 — F E B . W.A.-NOT 1/ 2/ 3/ 4/ 5/ PE tota? Haaatvaa of dapoaHory Inatfttrtlows nonbonowad nonboffowad plus raQulrad axiaooao craoir I axoaas N6A4 Mooataiy baas* 33,291 33,672 34,198 34,506 34.596 35,051 35,194 35,218 35,307 35,317 35,245 35,279 32,762 33,090 33,406 33,496 33,644 33,415 33,741 33,672 33,866 34,473 34,340 34,505 32,919 33,368 33,723 33,901 34,157 34,373 34.319 34,163 34,380 34,729 34,346 34,507 32,743 33,237 33,765 34,029 34,148 34,571 34,687 34,772 34,809 34,812 34,716 34,718 548 435 433 476 449 480 507 446 498 505 529 561 N.A. N.A. N.A. N. A. I . A. N.A. N.A. N.A. a. A . a. A . a. A . N.A. 35,502 36,106 34,787 35,538 34,791 35,543 34,889 35,199 613 907 N.A. ' N.A. I 529 ! 582 792 1,009 952 1,636 1,453 1,546 1,441 844 906 774 715 568 33 40 53 82 99 122 171 198 190 142 121 96 157 278 317 405 513 958 578 491 515 256 6 2 86 105 4 5 ' 13 P 29 PE AVAILABLE 36,382 35,887 35,826 35,317 P 35,829 35,324 PRELIMINARY 35,204 35,223 1 ,178 664 N.A. N-A. PE—PBELIH 93 118 556 570 3 7 PE RESERVES AND HONETABT BASE FIGURES INCOBPOBATE ADJOSTHENTS FOR DISCONTINUITIES ASSOCIATED RITH TBE IBPLBHBNTATION OF THE IHART ESTIHA1 MONETARY CONTROL ACT AND OTHEB REGULATORY CHANGES TO BESEBVE REQUIBEHENTS. TO ADJUST FOR DISCONTINUITIES DUB TO CHANGES IN RESERVE REQUIREMENTS ON RESERVABL NONDEPOSIT LIABILITIES, THE SOH OF SOCH BBQOIBED HBSEBVES ABE SOBTBACTBD FBOH THE A CTUAL SEBIES. SIMILARLY, IN ADJUSTING FOR DISCONTINUITIES IN THE HONETABT BASE, BBQUIBBD CLBABING BALANCES AND ADJOSTHENTS TO COMPENSATE FOB FLOAT ALSO ABE SUBTBACTBD FBOH THE ACTUAL SEBIES. TOTAL BESERVES NOT ADJUSTED FOR DISCONTINUITIES CONSISTS OF BESEBVE BALANCES NITH FBPBBAL BESERVE BANKS (WHICH EXCLUDE REQUIBED CLEARING BALANCES AND ADJUSTHENTS TO COMPENSATE FOR FLOAT) PLUS VAULT CASH USED TO SATISFY BESERVE BBQUIBEHENTS. SUCH VAULT CASH CONSISTS OF ALL VAULT CASH HELD DURING THE LAGGED COMPUTATION PERIOD BY INSTITUTIONS BAVING REQUIRED RESERVE BALANCES AT FEDERAL RESERVE BARKS PLUS THE AMOUNT OF VAULT CASH EQUAL TO BEQUIBED BBSEBVBS DUBING THE MAINTENANCE PBBIOD AT INSTITUTIONS HAVING NO REQUIBED BESEBVE BALANCES. EXTENDED CBEDIT CONSISTS OF BORRORING AT THE DISCOUNT HINDOR UNDER THE TEBHS AND CONDITIONS ESTABLISBED FOB THE EXTENDED CREDIT PROGRAM TO HELP DEPOSITORY INSTITUTIONS DEAL WITH SUSTAINED LIQUIDITY PRESSURES. BECAUSE THEIE IS ROT THE SAME REED TO REPAY SUCH BORROWING PROHPTLI AS THERE IS HITH TRADITIONAL SHORT-TEBH ADJUSTMENT CBEDIT, THE HONEY HABKBT IHPACT OF EXTENDED CBEDIT IS SIMILAR TO THAT OF NONBORBOHED BESEBVES. BESERVE BALANCES NITH FECEBAL BESBRVB BANKS PLUS VAULT CASH USED TO SATISFY BESEBVE REQUIBEHENTS LESS BEQUIBED BESEBVES. THE HONETABY BASE NOT ADJUSTED FOB DISCONTINUITIES CONSISTS OF BESEBVB BALANCES, BBQUIBBD CLEARING BALANCES AND ADJOSTHENTS TO COHPBNSATE FOR FLOAT AT FEDERAL RESEBVB BANKS PLUS CURRENCY IN CIRCULATION OOTSIDE THE U.S. TREASURY AND FEDERAL RESERVE BANKS, ADJUSTED TO INCLUDE, FOR INSTITUTIONS HAVING REQUIRED RESERVE BALANCES, VAULT CASH HELD DURING THE LAGGED COMPUTATION PERIOD INSTEAD OF DURING THE MAINTENANCE PERIOD. NOTE: HISTORICAL DATA ARE AVAILABLE FROH THE BANKING SECTION, DIVISION OF RESEARCH AND STATISTICS, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, WASHINGTON, D.C 20551. Borrowings of dapoattory Institutions from tha Fadaral Raaarva, M8A 1 axtandad cradH* saaaonal total H.3 (502) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE 1 Not'adjusted for changes in reserve requirements Averages of daily figures, not seasonally adjusted Millions of dollars Vault cash4 Reserves of depository institutions Monetary base2 Date total nonborrowed Reserve balances with F.R. Banks3 required used to satisfy required reserves5 total Net carryover of excess or deficit in reserve balances'7 surplus6 j: 1983—JAN. FEB. MAR. APB. HAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. 1984—-JAN* FEB. PE 111,864 39,799 38,035 38,650 38,282 38,415 38,948 38,661 37,916 38,137 38,144 38,894 41,334 39,217 37,242 37,641 37,330 36,779 37,495 37,114 36,475 37,294 37,239 38,120 41,315 39,364 37,601 38,174 37,833 37,934 38,440 38,214 37,418 37,633 37,615 38,333 N.A. N.A. N.A. N.A. N.A. N.A. N.AV I. A/ N.A. I.A. N.A. N.A. 24,432 23,532 22,163 22,566 22,010 21,807 22,139 21,965 20,585 21,059 20,943 20,986 21,454 20,036 19,484 19,569 19,710 20,098 20,413 20,035 20,798 20,471 20,558 20,755 40,120 36,402 39,405 35,834 39,507 35,495 N.A. N.A. 21,325 18,426 22,578 22,269 - 17,432 16,267 15,871 16,085 16,272 16,607 16,808 16,695 17,331 17,078 17,201 17,908 4,022 3,768 3,613 3,485 3,438 3,491 3,604 3,340 3,467 3,393 3,356 2,847 18,795 17,975 3,782 4,295 TuJO WEEKS iiNDING 1984- FEB. 15 P 29 PE 36,832 35,760 36,276 35,189 35,654 35,096 N.A. N.A. 18,449 18,236 22,774 21,750 18,383 17,524 4,391 4,226 <\ ; i • \ i \ t :: , : 1 . !. I : * * « kiUttU|||MililliUIIMttiiiM»UlUI» ^MWMMMMWMMMnpMmUMp) \ M.A.-NOT AVAILABLE P PRELIMINARY PB—PRELIMINARY ESTIMATE. 1/ REFLECTS ACTUAL RESERVE REQUIREMENTS, INCLUDING THOSE ON NONDEPOSIT LIABILITIES, WITH NO ADJUSTMENTS TO ELIMINATE THE EFFECTS OF DISCONTINUITIES ASSOCIATED WITH IMPLEMENTATION OF THE MONETARY CONTROL ACT OR OTHER REGULATORY CHANGES TO RESERVE REQUIREMENTS. 2/ CONSISTS OF RESERVE BALANCES, REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO COMPENSATE FOR FLOAT AT FEDERAL RESERVE BANKS PLUS CURRENCY IN CIRCULATION OUTSIDE THE U.S. TREASURY AND FEDERAL RESERVE BANKS, ADJUSTED TO INCLUDE, FOR INSITUTIONS HAVING REQUIRED RESERVE BALANCES, VAULT CASH HELD DURING THE LAGGED COMPUTATION PERIOD INSTEAD OF DURING THE MAINTENANCE PERIOD. 3/ EXCLUDES REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO COMPENSATE FOR FLOAT. 4/ DATES REFER TO THE MAINTENANCE PERIODS IN WHICH THE VAULT CASH CAN BE USED TO SATISFY RESERVE REQUIREMENTS. UNDER CONTEMPORANEOUS RESERVE REQUIREMENTS, MAINTENANCE PERIODS END 30 DAYS AFTER THE LAGGED COMPUTATION PERIODS IN WHICH THE BALANCES ARE HELD. 5/ EQUAL TO ALL VAULT CASH HELD DURING THE LAGGED. COMPUTATION PERIOD BY INSTITUTIONS HAVING REQUIRED RESERVE BALANCES AT FEDERAL RESERVE BANKS PLUS THE AHOUNT OF VAULT CASH EQUAL TO REQUIRED RESERVES DURING THE MAINTENANCE PERIOD AT INSTITUTIONS HAVING NO REQUIRED RESERVE BALANCES. 6/ TOTAL VAULT CASH AT INSTITUTIONS HAVING NO REQUIRED RESERVE BALANCES LESS THE AHOUNT OF VAULT CASH EQUAL TO THEIR REQUIRED RESERVES DURING THE MAINTENANCE PERIOD. 7/ CONSISTS OF CARRYOVER ONLY AT DEPOSITORY INSTITUTIONS MAINTAINING RESERVES ON THE BASIS OF TWO-WEEK MAINTENANCE PERIODS. REFLECTS EXCESS (•) OR DEFICIT (-) RESERVES ELIGIBLE TC BE CABRIED FORWARD INTO THE TWO-WEEK RESERVE MAINTENANCE PERIOD ENDING ON THE DATE SHOWN. if*: : « : «! 17 277 H.3 (502) Table 3 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjusted for changes in reserve requirements1 Averages of daily figures, not seasonally adjusted Millions of dollars Date total 1983—JAN. FEB. HAR. APR. HAY JURE JUL I AOG SEPT. OCT. MOV. DEC. 1984—-JAN. FEB. PE Reserves of depository institutions nonborrowed Monetary base required ••A. 3a,981 33,525 33,648 34,512 34,282 34,444 34,978 34,713 35,008 35,313 35,350 35,997 34,451 32,942 32,856 33,503 33,330 32,808 33,525 33,167 33,567 34,469 34,445 35,223 34,432 33,089 33,215 34,036 33,834 33,964 34,470 34,266 34,510 34,808 34,821 35,436 N-A. 11. A . M. A. N.A. N.A. I.A. N.A. I . A. N.A. N.A. 8 . A. 37,303 33,693 36,588 35,125 36,690 34,786 M.A. N.A. 36,192 35,120 35,636 34,549 35,014 34,456 M.A. N.A. TUO WEEKS ENDING 1984—FEB. 15 P 2 9 PE M.A.-NOT AVAILABLE P PBELIHIHAHY PE—PBELIHINABY ESTIMATE. 1/ FIGURES REFLECT ADJUSTMENTS FOR DISCONTINUITIES ASSOCIATED WITH THE IflPLEHENTATION OF THE MONETARY CONTROL ACT AND OTHEB REGULATORY CHANGES TO RESERVE REQUIREMENTS.
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