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FEDERAL RESERVE statistical release LIBRARY MAR *»9 two H.31502) For Immediate Release ^ AGGREGATE RESERVES OF D E P C ^ f f O R ^ ^ t ^ U t ^ O S S i i A ^ j M O N E T A R Y Adjusted for changes inreserverequirements' O P P t J I i u r , , - , ..... Averaqes of daily figures Period •S?W^ ~ - • &&li ^HUtLFH] r Reserves of depository institutions v. Monetary base? total2 non borrowed required billions of dollars millions of dollars seasonal I/ adjusted 4 BASE MARCH 15, 1982 Reserves of depository institutions total2 non borrowed required millions of dollars not seasonally adjusted Monetary base3 billions of dollars 39,122 39,237 39,410 39,627 39,619 39,727 39,810 40,312 40,118 40,150 40,527 37,818 38,238 38,073 37,399 37,582 38,048 38,390 38,855 38,937 39,487 39,891 38,771 38,957 39,241 39,370 39,281 39,387 39,518 39,898 39,840 39,805 40,208 159.1 159.6 160.6 161.4 161.7 162.5 162.9 163.7 163.8 164.3 165.8 38,894 38,622 39,273 39,310 39,053 39,636 39,479 40,087 40,219 40,332 41,263 37,590 37,622 37,935 37,083. 37,016 37,957 38,060 38,630 39,038 39,669 40,626 38,544 38,342 39,104 39,053 38,715 39,296 39,187 39,673 39,941 39,987 40,943 157.4 157.8 159.9 16p.8 161.2 163.3 163.2 163.3 163.8 165.6 168.9 P 41,277 40,944 39,759 39,154 40,859 40,624 167.4 167.9 42,696 40,752 41,178 38,963 42,278 40,432 168.5 166.1 1982—FEB. 3 10 17 24 P 41,846 40,635 41,353 40,415 39,999 38,971 39,445 38,515 41,365 40,491 40,784 40,360 168.7 167.3 168.7 167.1 42,327 40,289 41,349 40,094 40,480 38,625 39,441 38,194 41,846 40,145 40,780 40,039 166.9 166.2 167.5 164.6 HAR. 3 P 10 P 41,018 40,696 39,452 39,249 40,482 40,442 168.1 167.3 40,487 39,855 38,921 38,408 39,951 39,601 165.5 166.2 1981—FEB. MAR. APR. HAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. 1982—JAN. FEB. WEEK ENDING: P - PRELIMINARY V RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OF HEHBER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITC... INSTITUTIONS. DISCONTINUITIES ASSOCIATED H U H THE IMPLEMENTATION OF THE MONETARY CONTROL ACT, THE INCLUSION OF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES IN REGULATION D HAVE BEEN REHOVED. BEGINNING WITH THE KEEK 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 HEBE 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. SOTE: HISTORICAL DATA ARE AVAILABLE FROM THE BANKING SECTION, DIVISION OF RESEARCH AND STATISTICS, BOARD OF 30VERNORS 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 Monetary base3 required millions of dollars 39,828 39,725 40,333 40,516 40,442 41,007 41,023 40,591 40,711 40,948 41,924 38,525 38,726 38,995 38,288 38,405 39,328 39,604 39,134 39,531 40,285 41,287 39,478 39,445 40,164 40,256 40,104 40,667 40,731 40,177 40,433 40,604 41,604 158.8 159.5 161-6 162.6 163.3 165.4 165.4 163.9 164.3 166.3 169.7 P 43,203 41,305 41,685 39,515 42,784 40,985 169.1 166.8 3 10 17 24 P 42,781 40,680 42,007 40,713 40,934 39,016 40,099 38,813 42,300 40,536 41,438 40,658 167.5 166.8 168.3 165.4 3 P 10 P 41,098 38,423 39,532 36,976 1981—FEB. BAR. APR. HAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. 1982—JAN. FEB. WEEK ENDING: 1982—FEB. MAR. 1/ 2/ 3/ j 40,562 38,169 ! j 166.2 165.0 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 19, 1981, AN INCREASE OF $220 MILLION; JANUARY 14, 1982, A REDUCTION OF $60 MILLION; FEBRUARY 11, 3982 AN INCREASE OF $220 MILLION; AND MARCH 4, 1982, AN ESTIMATED REDUCTION OF $2.0 BILLION. 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 1962, 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 INSTITUTIONS PLUS CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS.
@FedFRASER