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FEDERAL RESERVE statistical release
fSuRt^v"
H.3(502)
Table 1
For nelsese at 4:30 Eastern Time
BABCH
AGGREGATE RESERVES OF 1DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
20,
1986
Adjusted for changes In reserve requirements
Averages of dally figures, seasonally adjusted unless noted otherwise
Millions of dollars
total1
Reserves of depository Institutions
non borrowed
nonborrowed plus
required
extended credit*
39,143
39,947
39,529
i
Monetary base*
Borrowings of depository institutions
from the Federal Reserve , NSA
total
seasonal
extended credit'
71
803
1,289
1,593
88
1,059
1,323
868
135
1,334
165
534
1,24)5
151
665
1,107
167
507
570
1,073
221
1,289
203
656
1,187
629
172
1,741
107
530
1,318
499
56
38,878
39,387
39,989
40,972
41,500
42,121
42,218
42,464
42,636
43,867
39,937
40,256
40,522
41,638
42,006
42,690
42,874
43,093
43,167
44,367
39,705
39,972
40,519
41,272
41,751
42,366
42,841
42,898
43,449
44,128
excess
NSA4
903
766
738
804
905
855
827
666
753
928
1,058
45,365
45,801
44,594
44,918
45,091
45,410
44,254
44,720
1,111
1,082
218,038
219,399
770
884
36
56
497
492
12
26 P
45,703
45,867
45,041
44,768
45,521
45,273
44,516
44,860
1,187
1,008
218,980
219,670
662
1,100
44
66
480
506
12 PE
45,931
45,227
45,701
44,964
967
220,014
704
65
475
Date
1 9 8 5 — FEB.
BAB.
APE,
MAY
JUBE
JULY
AUG.
SEPT*
OCT.
NOV.
DEC.
40,432
40,471
40,710
41,323
42,177
42,606
43,193
43,507
43,651
44,377
45,186
1986—JAB.
FEB. PE
202,113
202,958
203,672
205,459
207,567
208,730
210,846
212,076
213,117
214,934
216,437
TWO WEEKS
ENDING
1986-FEB.
NAB.
P—PRELIHIBABI
PB—PBELIHIHABI ESTIBATB
1/ BBSEB7BS ABO BOBETABT BASE FIGURES IBCOBPOBATE ADJOSTBEBTS FOB DISCONTINUITIES ASSOCIATED BITfl THE IBPLEBBBTATIOB OF TBB
HONETABT COBTBOL ACT ABD OTHBB REGULATORI CHANGES TO RESERVE REQUIREMENTS. TO ADJUST FOB DISCOBTIBUITIBS DUB TO CBAHGES IB
BBSBBfB REQUIREMENTS ON BESEBYABLB BOBDBPOSIT LIABILITIES, TBB SUB OF SUCH RBQUIBED RESERVES ABB SUBTBACTED FBOB TflE ACTUAL
SEBIBS. SIMILARLY, IB ADJUSTING FOB DISCONTINUITIES IB THE BOBETABT BASE, REQUIRED CLEABIBG BALANCES ABD ADJOSTBEBTS TO
COHPEBSATE FOB FLOAT ALSO ABB SUBTBACTED FBOB THE ACTUAL SEBIES.
2/ TOTAL BESEBVES BOT ADJUSTED FOB DISCONTINUITIES CONSISTS OF BESEBYE BALANCES BITH FEDERAL RESERVE BABKS (8HICB BZCLUDB
RBQUIBED CLEABIBG BALABCBS ABD ADJUSTBENTS TO COBPEBSATB FOB FLOAT) PLUS YAULT CASH USED TO SATISFI RESERVE BBQUIBEflBNTS.
SUCH YAULT CASH COBSISTS OF ALL YAULT CASH BBLD DUBIBG THE LAGGED COBPUTATIOB PEBIOD BI INSTITUTIONS BAVIBG BBQUIBED BESEBYE
BALANCES AT FEDEBAL BESEBYE BABKS PLUS TBE ABOUNT OF VAULT CASB EQUAL TO REQUIBBD BSSBBYBS DUBIBG TBB BAIBTBBANCB PEBIOD AT
INSTITUTIONS BAYIBG BO BBQUIBED BESEBYE BALANCES.
3/ EITEBDBD CREDIT COBSISTS OF BORROWING AT THE DISCOUBT NIBDOB UBDEB TAB TERES ABD COBDITIONS ESTABLISHED FOB TBB EXXEEDED
CREDIT PBOGBAB TO HELP DEPOSITOR! INSTITUTIONS DEAL BITH SUSTAINED LIQUIDITY PRESSURES. BECAUSE TEERE IS BOT TflE SAflE MEED TO
REPAY SUCH BORROWING PBOBPTLI AS TBEBE IS VITfl TRADITIONAL SHORT-TERM ADJUSTBEBT CREDIT, THE BONKI BARKET IBPACI OF EXTSBDEJ)
CREDIT IS SIBILAB TO THAT OF NONBORROWED RESERVES.
4/ RBSERYB BALANCES BITfl FBDEBAL BESEBYE BABKS PLUS YAULT CASB USED TO SATISFI BBSBBYB BBQUIREHEBTS LESS BBQUIBED RESERVES.
5/ THE MONETARY BASE BOT ADJUSTBD FOB DISCONTINUITIES CONSISTS OF TOTAL RESERVES PLUS BBQUIBED CLEABIBG BALANCES ABD ADJOSTBEBTS
TO COBPEBSATB FOB FLOAT AT FEDERAL RESERVE BABKS PLUS THE CUBBEBCI COflPOBENT OF TBB BOflfll STOCK LESS THE AHOOBT OF VAULT CASB
HOLDIBGS OF TBRIFT INSTITUTIONS THAT IS INCLUDED IN THE CUBBEBCI COflPOBENT OF TflE MONET STOCK PLUS, FOB INSTITUTIONS BOT BAVIBG
BBQUIBED BESEBVB BALABCBS, TBB EXCESS OF CURRENT VAULT CASB OVEB THE AHOUNT APPLIED TO SATISFI CURRENT RESERVE REQUIREMENTS.
AFTER TBE INTRODUCTION OF CRR, CURRENCY AND VAULT CASB FIGUBES ABB MEASURED OVEB TBE MONDAY-ENDING COBPUTATIOB PEBIOD.
PBIOB TO CRR, ALL COMPONENTS OF THE MONETARY BASE OTHEB THAN EXCESS RESERVES ARE SEASONALLY ADJUSTED AS A BHOLE, RATHER THAN
BY COMPONENT, AND EXCESS RESERVES IS ADDED OR A NOT SEASONALLY ADJUSTED BASIS. AFTEB CBB, THE SEASONALLY ADJUSTED SERIES
CONSISTS OF SEASONALLY ADJUSTED TOTAL RESERVES {WHICH INCLUDES EXCESS RESERVES OR A BOT SEASONALLY ADJUSTED BASIS) PLUS TBE
SEASONALLY ADJUSTED CUBRENCY COMPONENT OF THE HONEY STOCK PLUS THE REMAINING ITEMS SEASONALLY ADJUSTED AS A BHOLE.
NOTE: HISTORICAL DATA ARE AVAILABLE FROM THE BANKING SECTION, DIVISION OF RESEARCH AND STATISTICS, BOARD OF GOVERNORS OF THE
http://fraser.stlouisfed.org/
FEDERAL RESERVE SYSTEM, WASHINGTON, D.C. 20551
Federal Reserve Bank of St. Louis
Table 2
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Not adjusted for changes in reserve requirements
Averages of daily figures, not seasonally adjusted
Millions of dollars
Vault castt4
of depository institutions
Monetary
Date
total
Reserve balances,
with F.R. BanKs^l
required
total
used to satisfy
required
reserves9'
surplus*
;::::::•::!::::!
:::::::::::!:t:
1985—PEB.
BAB.
APR.
BAI
JUIE
JOLI
AUG,
SEPT,
OCT* .
IOV.
DEC.
40,273
40,494
41,652
41,051
42,352
42,803
42,963
44,447
45,469
46,382
48,142
38,984
38,901
40,329
39,718
41,147
41,696
41,890
43,158
44,282
44,641
46,824
39,370
39,728
40,914
40,247
41,447
41,948
42,135
43,782
44,716
45,454
47,085
199,868
201,219
203,746
204,874
208,317
210,580
211,525
212,876
214,472
217,177
221,485
20,416
22,065
23,217
22,385
23,367
23,503
23,415
24,972
25,431
26,385
27,620
23,927
21,863
21,567
21,898
22,180
22,530
22,839
22,465
22,724
22,457
22,956
19,857
18,429
18,435
18,666
18,985
19,300
19,548
19,475
20,038
19,997
20,522
4,070
3,434
3,132
3,231
3,196
3,230
3,291
2,990
2,686
2,460
2,434
1986—JAB.
FEB. PB
48,060
46,636
47,289
45,752
46,949
45,554
219,588
217,658
26,373
24,684
24,245
24,962
21,687
21,951
2,559
3,011
12
26 P
46,815
46,413
46,154
45,314
45,629
45,406
217,510
217,587
23,924
24,989
26,078
24,348
22,891
21,424
3,187
2,924
12 PB
47,113
46,409
46,146
219,047
27,110
22,577
20,003
2,574
iiliiiijp
::::::::::::::!:
;:::::::::: ::::::::::'{
.::::5ai
:::::!:::::
:::::::::::
I:s::
•:::::::::
::::::::::::::::
::::::::::::::::
::::::::::::::::
::::::::::::::::.
jjjjjjjjjjjjjjjjj
TBO BBBKS
BBDIB6
1986—PEB.
PBB.
P
PBELIBIBABT
PB—PRELIBIflABY BSTIRATB.
1/ BEPLECTS ACTUAL BBSBBfB RBQ0IBBBEBTS, IBCLDOIBG TBOSB OB BOBOBPOSIT LIABILITIES, BITS BO ADJUSTHEflTS TO BLIBIBATB
TBB BPPECTS OP DISCOBTIBOITIES ASSOCIATED BITS IBPLBBBBTATIOB OP THE BOBETABI COBTBOL ACT OB OTBEB REGULATORY
CHABGBS TO BBSBBfB BEQUXBBflBBTS.
2/ COBSISTS OP TOTAL BBSBBfBS PLOS BEQUIBBD CLEABIBG BALABCBS ABD ADJUSTHEflTS TO COflPBBSATB FOR FLOAT AT PBOBBAL BBSBBfB
BABKS PLOS TBB COBBBBCX COBPOBEBI OP TBB BOBBI STOCK LESS TBB ABOOBT OP fAOLT CASfl H0LDII6S OP THRIFT IBSTITOTXOBS TflAT
IS IBCLODBD IB TAB CUBBBBCI COflPOBBBT OP THB BOBBI STOCK PLOS, POB IISTITUTIOBS BOT AAflflG REQUIRED BBSBBfB BALABCBS, THB
EXCESS OP COBBBBT fAULT CASH OfEB TBE ABODBT APPLIED TO SATISPI CUBBEBT BBSBBfB REQUIRBBBITS. APTBB TAB IflTBODOCTIOfl OP
CBB, COBBEBCI ABD fAULT CASH PIGOBES ABE BEASUBBD OfEB THE flOBDAI-EBDIBG COAPUTATIOfl PBBIOD.
3/ EXCLUDES REQUIRED CLEABIBG BALABCES ABD ADJUSTBEBTS TO COflPBBSATB POB FLOAT,
DATES BBPBB TO THE HAIBTBBABCE PERIODS IB HfllCH TAB fAULT CASfl CAB BE USED TO SATISFY BBSBRfB REQUIRflflBIIS. UBDBB
COBTEflPOBAVBOUS RESERVE REQUIRBBBITS, HAIflTEBABCB PERIODS EBD 30 DAIS AFTER TAB LAGGED COAPUTATIOfl PERIODS
IN WHICH THE BALABCES ABE HELD.
5/ EQUAL TO ALL fAULT CASH HELD DUBIBG THB LAGGED COAPUTATIOfl PBBIOD BI IISTITUTIOBS BAflBG REQUIRED BBSBBfB BALABCBS
AT FEDERAL BBSEBfE BABKS PLUS THE ABODBT OP fAULT CASfl EQUAL TO REQUIRED BBSBBfBS DUBIBG THEflAINTEBAflCBPBBIOD AT
IBSTIIUTIOIS HAflflG 10 REQUIRED RESERVE BALABCES.
6/ TOTAL fAULT CASH AT IBSTITUTIOIS HAVIIG BO REQUIRED BBSEBfE BALABCES LBSS TBB AHOUBT OF fAULT CASfl EQUAL TO THBIB
REQUIRED RESERVES DURIBG THB BAIKTEIAICB PERIOD.
7/ COISISTS OP CARRYOVER OBLT AT DEPOSITORY IflSTlIUTIOBS BAIBTAIBIBG BBSBBfBS OB TAB BASIS OF THO-flBEK flAIHTEMABCE
PERIODS. REPLECTS EXCESS (+) OR DEFICIT (-) RBSBfifES ELIGIBLE TO BE CARRIED FORWARD IITO THE TflO-HEBK BBSBRfB
HAIBTERAICE PERIOD ENDING OB THE DATE SHOflK.
90
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
Monetary base
required
39,878
40,066
41,254
40,643
41,959
42,410
42,596
43,221
43,747
44,625
46,404
38,589
38,473
39,932
39,309
40,754
41,303
41,523
41,932
42,559
42,884
45,086
38,975
39,301
40,516
39,839
41,054
41,554
41,768
42,555
42,994
43,697
45,347
199,473
200,792
203,349
204,465
207,923
210,18?
211,158
211,649
212,750
215,420
219,747
46,633
45,159
45,862
44,276
45,522
44,078
218,161
21e>,182
12
26 P
45,335
44,932
44,673
43g833
44,148
43,924
216,030
216,105
12 PE
45,696
44,992
44,729
217,630
1985—FEE.
HAB.
APB.
MAI
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.
1986—JAN.
FEB.
Reserves of depository institutions
nonborrowed
"^
PE
TWO BEEKS
ENDING
1986—FEB.
HAB.
P
PBELIMIMABY
PE—PBELIMINABY ESTIMATE.
1/ FIGUfiES BBPLECT ADJUSTMENTS FOB DISCONTINUITIES ASSOCIATED BITB TH£ IMPLEMENTATION OF TEE MONETAE* CONTEOX. ACT
AND OTHEfi BEGULATOBI CHANGES TO BESEBYE BEQUIBBMEMTS.
@FedFRASER