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\<&S£& £ FEDERAL RESERVE statistical release MM Wit Sswr-- H.3 (502) For Immediate Release £ 0 lJfP^*'<V1" Table 1 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve requirements1 Averages of daily figures Reserves of depository institutions non borrowed required Period total* millions of dollars seasonal I/ adjusted v Monetary base3 billions of dollars HAY 1 0 , 1 9 8 2 Reserves of depository institutions total2 non borrowed required millions of dollars not seasonally adjusted Monetary base3 billions of dollars 1981—APR. HAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. 39,410 39,627 39,619 39,727 39,810 40,312 40,118 40,150 40,527 38,073 37,399 37,582 38,048 38,390 38,855 38,937 39,487 39,891 39,241 39,370 39,281 39,387 39,518 33,898 39,840 39,805 40,208 160.8 161.4 161.J 162.5 162.9 163.7 163.8 164.3 165.8 39,273 39,310 39,053 39,636 33,479 40,087 40,219 40,332 41,263 37,935 37,083 37,0fl6 37,957 38,060 38,630 39,038 39,669 40,626 39,104 39,053 38,7(15 39,296 39,187 39,673 39,941 39,987 40,943 153.9 160.8 161-2 103.3 163-2 (163.3 163-8 (165.6 168.9 1982—JAN. FEB. HAB. APR. P 41,277 40,927 41,089 41,184 39,759 39,137 39,5*3 39,615 40,859 40,623 40,728 40,908 167.4 167.9 168.5 169.8 42,696 40,735 40,533 41,089 -41,178 38,946 38,977 39,520 42,278 40,432 40,172 40,8(13 168*5 166.1 16#.5 (168.9 7 14 P 21 P 28 P 40,763 40,708 41,606 41,514 39,283 39,373 39,947 39,692 40,491 40,390 41,454 41,205 169.1 168.8 170.1 170.5 39,925 40,184 41,969 41,981 38,445 38,849 40,310 40,159 39,653 33,666 41,617 41,672 (168-0 168.9 (I6S.6 168.8 5 P 41,693 40,193 41,237 170.9 42,126 40,626 41,670 170-7 SEEK ENDING: 1982—APB. HAY p - PfiELIHINARY V 2/ 3/ RESEfiVE AGGfiEGATES INCLODE BEQUIBED BESEfiVES OF HEHBEfi BANKS AND EDGE ACT COfiPOBATIONS AND CTHEfi DEPOSITORY INSTITUTIONS. DISCONTINUITIES ASSOCIATED NITH THE IHPLEMENIATICN OF TEE HONE1ABY CONTBOL ACT, IRE INCLUSION OF EDGE ACT CORPORATION BESEfiVES, AND OTHEB CHANGES IN REGULATION D HAVE BEEN BEHOVED. BEGINNING UI1B THE WEEK ENDED DECENBEB 23, 1981, BESEBVES AGGBEGATES HAVE BEEN BEDUCED BY SHXFIS OF BESEBVABLE LIABILITIES 10 INTERNATIONAL BANKING FACILITIES (IBFS) - ON THE BASIS OF BEPOBTS OP LIABILITIES TBANSFEBBED TO IBJS BY U.S. COMMERCIAL BANKS AND U.S. AGENCIES AND BBANCHES OF FOBEIGN BANKS, TT IS ESTIMATED THAI BEQUIBED BESEfiVES HEBE LOWERED ON AVEBAGE BY $10 TO $20 BILLION IN DECEHBEB 1981 AND $40 TO $70 HIXIION IN JANUABY 1982. RESEfiVE BALANCES NITH FEDERAL RESEfiVE BANKS (WHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT INSTITUTIONS WITH REQUIRED RESEfiVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED fiESEBVES AT CIHUB INSTITUTIONS. INCLUDES fiESERVE BALANCES AND REQUIRED CLEANING BALANCES AT FE IEBAL BESEBVE BANKS IN THE COfifiENT JJEEK PLUS VAULT CASH HELD TWO SEEKS EABLIEB USED TO SATISFY BESERVE BEQUIBEHENTS AT ALL DEPOSIIOBY INSTITUTIONS 2LUS CURRENCY OUTSIDE THE U.S. TREASUBY, FEDEBAL BESEfiVE BANKS, THE VAULTS OF DBPOSJIOBY INSTITUTIONS, AND SUBPLUS VAULT CASH AT DEPOSITOBY INSTITUTIONS. NOTE: HISTORICAL DATA ARE AVAILABLE FBOH THE BANKING SECTION, DIVISION OF BESEAECfi AND STATISTICS, BOARD OF GOVERNORS OF THE FEDEBAL BESEBVE SYSTEH, NASHINGTON, 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 1981—APR. HAT JUNE JULY AUG. SEPT. OCT. NOV. DEC. 40,333 40,516 40,442 41,007 41,023 40,591 40,711 40,948 41,924 38,995 38,288 38,405 39,328 39,604 39,134 39,531 40,285 41,287 40,164 40,258 40,104 40,667 40,731 40,177 40,433 40,604 41,604 161.6 162.6 163.3 165.4 165.4 163.9 164.3 166.3 169.7 1982—JAN. FEB. BAR. APR. P 43,203 41,286 39,234 39,560 4(1,685 39,496 37,678 37,991 42,784 40,982 38,873 39,285 169.1 166.8 165.4 167.6 7 14 P 21 P 28 P 38,435 38,697 40,402 40,420 36,955 37,362 38,743 38,598 38,163 38,379 40,250 40,111 5 P 40,567 39,067 40,111 WEEK ENDING: 1982—APR. HAY 1/ 2/ 3/ > 166.7 167.6 168.3 167.5 169.4 RESERVES OF DEPOSITORY INSTITUTIONS SERIES REFLECT ACTUAL RESERVE REQUIREHENI PERCENTAGES WITH NO ADJUSTHENTS TO ELIMINATE THE EFFECT OF CHANGES IN REGULATION D, INCLUDING CHANGES ASSOCIATED WITH THE IB^LEMENTATION OF THE HONE1ARY CONTROL ACT. INCLUDES REQUIRED RESERVES CF HEMBER BANKS AND EDGE ACT CORPORATIONS AND, BEGINNING NOVEMBER 13, 1980, OTHER DEPOSITORY INSTITUTIONS. UNDER THE TRANSITIONAL PHASE-IN PROGRAM OF THE HONETARY CONTROL ACT OF 1980, THE NET CHANGES IN REQUIRED RESERVES OF DEPOSITORY INSTITUTIONS RAVE BEEN AS FOLLOWS: EFFECTIVE NOVEMBER 13, 1980, A REDUCTION OF $2.8 BILLION; FEB3UARY 12, 1981, AN INCREASE OF $245 MILLION; HARCH 12, 1981, AN INCREASE OF $75 BILLION; HAY 14, 1981, AN INCREASE OF $245 MILLION; AUGUST 13, 1981, AN INCREASE OF $245 BILLION; SEPTEMBER 3, 1S81, A REDUCTION OF $1.3 BILLION; NOVEMBER 19, 1981, AN INCREASE OF $220 BILLION; JANUARY 14, 1982, A REDUCTION O* $60 BILLICh; FEBRUARY J1, 1982 AN INCREASE OF $220 BILLION; AND BARCH 4, 1982, AN ESTIBAIED REDUCTION OF $2.0 BILLION. BEGINNING WITH THE WEEK ENDED DECEHBER 23, 1981, RESERVE AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF BESERVABLE LIABILITIES TO INTERNATIONAL BANKING FACILITIES (IBFS) . ON THE BkSIS OF REPORTS OF LIABILITIES TRANSFERRED TO IEFS BY U.S. COMMERCIAL BANKS AND U.S. AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIBAIED THAT REQUIRED RESERVES WERE LOWERED ON AVERAGE BY $60 TO $90 BILLION IN DECEBBEB 1J981 AND $180 TQ $230 IN JANOARY 1982, BOSTLY 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 IHE CURRENT KEEK PLUS VAULT CASH HELD TWO WEEKS EARLIER USED TO SATISFY RESERVE REQUIREBENTS AT ALL DEPOSITORY INSTITUTIONS PLUS CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS QF DEPOSITORY INSTITUTIONS, AND SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS.
@FedFRASER