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FEDERAL RESERVE statistical release H.3 (502) : Table1 For - lURCH AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE at 4:30 Eastern Time 31, 1988 Adjuated for changes In reaene requlremema' Awragea.9f dally f~gu,.., -eonally edjualed unleu noted otllefwlu Millions oi dollars Date total• ReM,.... of depository lnstltutlona required nonborrowed nonborrowed plus extended credit" Monetary base• Borrowlnga of depository Institutions from the Federal ReHrve, NSA elltended credit seasonal total 711 71 91 120 196 259 283 279 231 189 126 93 283 264 270 288 273 1911 132 1109 11119 3911 1183 57,273 56,516 56,8111 56,8lfll 57,032 57,368 57,0611 56,1107 1, 211 916 827 1,079 1,190 761 1,032 793 1,129 923 1,029 243,755 2u,n9 246,526 248,234 21f8,481 249,511 250,997 252,252 254,564 256,025 256,684 556 527 993 1,035 776 672 6117 91f0 9113 625 57,311 56,930 56,929 57,229 56,885 57,553 57,362 56,658 56,600 56,589 57,231 57,6011 57,203 57,1211 57,360 57,294 58,003 57,756 57,1112 58,316 58,.110 57,234 58,043 57,606 58,248 57,021 57,305 1,295 1,135 260,245 261,259 1,082 396 59 75 372 205 10 24 58,501 58,502 58,215 58,017 58,358 58,309 57,220 57,1115 1,282 1,087 261,642 261,248 287 425 55 11 1114 232 9 58,142 58,722 57,605 56,798 57,860 58,483 57,166 57,819 976 903 260,529 262,640 537 1,924 111 123 255 1,685 1987--~Jta. 56,873 56,85~ I(&~ 57,951l'. 58,352 57,706 57,602 57,876 57,825 58,496 57,987 57,1136 iPL lilt JUIB JULI lUG. SBP'l. OCT. lOY. DBC. 1988--JU. PBB. 56,317 56,325 excess NSA4 56~961 ~ 55,6'2 55,93,6 57~127 TIJO IJBBIS BIDIIG -------1988-PBB. !IlL 23 p P---PBBLXIIXIlBT PB--PIBLXIIIIllt BSTXIIlTB 1/ BBSEBYBS liD ROIB!llt BlSB PIGUIBS IICOIPOBlfB lDJUSTIIBITS POl DISCOITIIUITIBS lSSOCilTID liTH TBB IIIPLiftllflTIOI Or TRI IIONBTlBI COITBOL lCT liD OTBBB IBGULlTOBI CBliGBS TO BBSBIYB BBQUIBBBEITS. TO ADJUST roa DISCOITIIOITIBS DUB TO CBliGBS II IBSERYB BBQUIBBIIBITS 01 RBSEIYlBLB IOIDBPOSXT LilBILITIBS, TBB SUB or SUCH BBQUIBBD BBSBIYBS liB SUBTBlCTBD raoll TRB ACTUAL SBIIBS •. SIIIILlRLI, II ADJOSTIIG roB DISCOITIIUITlBS II TBB IIOIBTlBI BlSB, BBQUIBBD CLBliiiG RlLliCBS liD lDJUSTIIBITS TO COIIPBISlTB roR rLOlT lLSO lBB SUBTBlCTBD rBOII THB lCTUlL SBBIBS. 21 TOTAL RBSBBYBS lOT lDJUSTBD FOB DISCOITIIUITIBS COISISTS OP BBSBBYB BlLliCBS IITB rBDBRlL RBSBBYB BliiS (IBICB BICLUDB RBQUIBBD CLBllliG BlLliCBS liD lDJUSTRBITS TO COBPBISlTB POl rLOlT) PLUS fAULT ClSB USBD TO SlTISPI BBSBBYB BBQUIBBIIBITS. SUCH YlUL! CASH COIS~STS OP ALL fAULT ClSH BBLD DUIIIG TBB LlGGBD CORPUTlTIOJ PBBIOD Bl IIS!ITUTIOIS BlYIIG BBQUIRBD BBSBRYB BlLAICES AT rBDIRlL BESBIYB BARKS PLUS THE lROUHT OP YAOL! CASH BQQA~ TO BEQOIRBD IESEIYBS DUBIIG TBB Blli!BiliCB PBBIOD AT INSTITUTIOIS HAYING 10 BBQOIBED BISBBYB BALliCES. 3/ EXTBIDBD CREDIT COISISTS or BORBOIIMG AT THB DISCOUIT IJIIDOI UNDER THB TBIRS AND COIDITIOIS BSTlBLISBBD rOB TRE EITBJDBD CREDIT PIOGBAR TO HELP DBPOSITOII IISTITDTIOIS DilL liTH SOSTliiED LIQUIDITI PBBSSUBBS. BBClOSB TRBBB IS lOT THB 51111 IBID TO BEPll SUCH BORBOIIIG PIOBPTLI AS THBBB IS IJITH TllDITIOilL SHOBT-TEBft lDJUSTREIT CIBDIT, THB 80111 RlRIBT IRPlCT or BITBMDBD CIBDIT IS SIBILlB TO THAT or NOIBOBBOWBD BBSBRYBS. Ill IBSBIYB BlLlNCBS IJITH PEDBBlL RESBBYE BARKS PLUS YlULT ClSB OSBD TO SlTISPt IBSBBYB BBQUIBBBBITS LBSS RBQUIBBD RBSBBYBS. Sl THE IIOIETlBI BASI lOT lDJUSTBD POR DISCOMTIIUITIES COISISTS OP TOTAL BBSBBYBS PLOS IBQUIBED CLBli~IG BlLliCBS liD lDJUSTBBNTS TO CORPIISlTB roB FLOAT AT PEDBBlL BISBRYB BliiS PLUS THB CURRBNCJ CORPOIEIT OP THB ROlli STOCK PLUS, POB IISTITUTIONS NOT HlYIIG REQUIRE) RBSBIYB BlLliCES, TBB BICBSS OP CURRBIT fAULT CASH OYER TRB &BOUlT APPLIED TO SlTISrl CURRBIT RESERVE RBQUIBBBEITS. lPTBR THB IITRODUCTIOI OF CCI, CUBREICI AID fAULT CASH FIGURES ARB REASURBD OfBB THE RONDli-EIDlNG CORPUTATIOI PERIOD. THB SElSOMlLLI lDJUSTBD RONBTAII BASI COISISTS OF SElSORALLI ADJUSTED TOTAL RBSBBYB (WHICH IICLUDBS EXCESS BBSBRYBS 01 l MOT SBlSOilLLJ ADJUSTED BASIS) PLUS THE SBASOilLLJ ADJUSTED CURREICI CORPOIBIT or THE liONEl STOCK PLUS THB REBliiiiG IT!RS SEASONALLY ADJUSTED AS A WHOLE. lOTI: HISTORICAL DATA ARB AVAILABLE FROR THE ftOIII AND BBSBRYBS PROJECTIONS SBCTIOI, DIVISION or BORBTABI APPAIRS, BOARD OP GOYBRNORS OF THE FBDBBAL RESERYB SISTER, IASHINGTON, D.C. 20551 H.3 (!102) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE · No,r ~djustlld. for~,<:hanges. i!l._~e~.~e_q_u_ir_ements Amages.ol daily figures,: not seasonally adjustea Millions of dollars Mone111t'y base~ Date total non borrowed aurplul" total required IOV. DB C. 57,060 57,061 59,393 58,339 58,784 58,838 58,361 59,813 61,106 61,205 62,123 56,503 56,5311 58,1100 57,303 58,008 58,166 57,714 58,873 60,163 60,580 61,31l6 55,8119 56, 1116 58,566 57,2&0 57,594 58,078 57,329 59,020 59,917 60,282 61,0911 244,220 244,978 249,2111 2119,9110 252,539 2516,671 254,360 255,i91 258,076 261,674 266,161 33,625 35,318 31,801 36,1166 36,309 36,110 35,616 36,685 37,2119 37,1l53 37,673 25,901 23,7&5 23,3118 23,681 24,369 24,613 216,644 24,8516 25,587 25,1131 26,155 23,435 21,7113 21,587 21,873 22,475 22,728 22,7115 23,128 23,857 23,752 211,449 2,466 2,022 1,762 1,808 1,89J 1,885 1,899 1,126 1,730 1,679 1,706 1988--JAI. PBB. 62,640 60,047 61,558 59,651 61,31l5 58,912 265,789 262,599 37,'l85 34,211 26,919 28,119 25,155 25,836 1,7611 2,283 10 24 60,648 59,787 60,361 59,362 59,366 58,700 262,755 262,540 33,681 311,102 29,1111 27,9511 26,967 25,685 2,1150 2,270 9 59,576 60,091 59,039 58,167 58,600 59,188 262,455 264,135 35,577 35,761 25,987 26,221l 23,999 24,330 1987--ll!:B. !IlL lPB. !Ill JUIB JULY AUG. SEP'l. OCT. riO IBIKS BIDJ:IG 1988--lllB. IlL 23 p P---PIELIIIIJUY PB--PBELIIIJABY ESTIIIATB. 1/ BBl'LBc:TS ACTUAL BISBRU BIQUUBIBJTS, IICLUDIJG TBOSI 01 IOHDIPOSIT LIABILITUS, liTH 10 lDJUS'riiBifS TO BLiftlllTB THE EPPBCTS OP DISCOITIIUITIBS ASSOCIATED liTH IIIPLBIIBITlTIOI OP THB IIOIBTARY COITROL ACT 08 OTHER RBGULATORI CHAIGBS TO R&SBBVB BBQUIRBIIBITS. 2/ COISISTS OP TOTAL BBSBBVBS PLUS RBQUIIBD CLBliiiG BALliCBS AID ADJUSTIIBITS TO COIPEISlTB roa FLOAT AT rBDBRlL RISBRfl BilKS PLUS TBB CUIBBICI COIPOIBIT OF THB IIONBI STOCI LESS THB ABOUif or fAULT CASH HOLDIIGS or THIIPT IISTITUTIOIS THAT IS IICLUDED II TBB CURBBICY COBPOIBIT or THE lOlBI STOCK PLUS, POB IISTitDTIOIS lOT HAYING IBQUIBBD IESBBfl BILAICBS. THE EXCESS or COBIJNT fAULT CASH OfBI THE l!ODIT APPLIED TO SATISFY CURBBIT BBSIIfB IEQUIIBBBITS. AFTBR THB IITRODDCTIOI OF CRB, CUBBBICI liD VAULT ClSH liGURES liE IIBlSUIBD OfEB THE IOIDAY-BIDIIG COBPUTATIOI PERIOD. 3/ EICLUDBS REQUIRED CLBAB~IG BILIJCBS AND ADJUSTIIBNTS TO COIPBISATI POB FLOAT. 4/ DlTBS BBrER TO THE IAIITBNAICE PERIODS IN WHICH THE fAULT CASK CAl BB USED TO SlfiSPY BBSBBfB RIQUIIIIBITS. UNDER COMTBBPOBlBBOOS RESERfE RBQUIRBIIBMTS, BliKTEIAICB PERIODS BID 30 DAIS APTER THE LAGGED COIPUTATIOI PERIODS II IBICH TRB BALINCBS All HBLD. 5/ BQOAL TO ALL fAULT CASH HELD DUBIIG THB LAGGED COIIPUTATIOI PBIIOD BY IISTITUTIOJS BAYING REQUIRED RBSEBfl BALANCES AT FEDERAL IBSIRfB BAlKS PLUS THB ANOUNT OF VAULT CASH &QUAL TO BBQOIRBD RESBBfiS DORING THE IAINT&IlNCB PERIOD lf IISTITUTIOBS BlfiiG 10 REQUIRED RESERfB BALlJCES. 6/ TOTAL fAULT CASH AT IISTITOTIONS RlfiNG 10 IBQUIRBD BBSBRfE BlLIICE~ LESS TBB AftOUIT OF fAULT ClSB EQUAL TO TRill REQUIRED RESERVES DURIIG THE ftAIITEIANCE PERIOD. 11 COISISTS OF CARRYOYEI ONLY AT DEPOSITORY INSTITUTIOIS IIAIITAIIIIG BESERfBS 01 THI BASIS OP TIO-IIEK BAIITINANCE PERIODS •. RBPLBCTS EXCESS (+) OR DEFICIT (-) RESEBVBS ELIGIBLE TO BE CARRIED POBRAID INTO THE TWD-WBBK RISBRYE ftliHTEiliC! PERIOD ERDIIG OH TBB DATE SHOWN. 262 209 152 35 H.3 (502) TU!e3 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Ad)uated fOI change~ In .....,. .....,.,._.,, Averagea of dally fiOuret, not ....._.,Y ..,...., Mllllonl of dollarl Date total .....,.,_ of dlpolltOIY lnatltutlona Wid Monetary ball required IOf. DK. 56,088 56,068 58,372 57,299 57,625 57,71t3 57,390 57,'96 58,037 58,093 58,965 55,532 55,541 57,379 56,264 56,8169 57,071 56,7163 56,556 57,094 57,1t68 58,188 54,877 55,152 57,5411 56,221 56,U5 56,983 56,358 56,703 56,909 57,170 57,936 240,817 241,925 2116,066 246,8J2 249,286 251,424 251,1120 251,60J 253,287 256,821 261,214 1988-.J&I. l'BB. 60,170 57,641 59,089 57,250 58,875 56,512 261,202 258,194 24 58,188 57,407 57,901 56,98J 56,906 56,321 258,150 258,265 9 23 57,235 57,819 56,698 55,895 56,259 56,916 258,084 260,194 1987--l'BB. l.lR. API. IU JUU JULI AUG. SBPr. OC'f. t'IO I.BIKS BIDIIG -------1988-l'BB. 10 au. • P---ftBLIUI&II PI-•PIBLI8IIllf &SriilrB. 11 l'IGIIU IUL.JCr lD.JUSriii~S 1'01 DISCOII'l'IIUIUBS lSSOCIUBD IIIII raa IIPLIIIB11'UIOI 01' Ill aonuar COiriOL &Cr ll~ otlll IIGOLliOII Clll8~ 10 I&SBIIB IBQUIIBIIItl.