Full text of H.3 Aggregate Reserves of Depository Institutions and the Monetary Base : May 2, 1983

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FEDERAL RESERVE statistical release
H.3 (502)

For Immediate Release

Table 1
HAT

AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE

2,

1983

Adjusted for changes in reserve requirements 1
Reserves of depository institutions
total 2
| non borrowed I
required
millions of dollars
seasonal!'/ adjusted

Period

Monetary base3
billions of dollars

Reserves of depository institutions
required
total2
I[ non borrowed |
millions of dollars
not seasonally adjusted

Monetary base3
billions of dollars

1982— BAR.
APB.
HAY
JUNE
JULY
AUG.
SE P T .
OCT.
NOV.
DEC.

38 ,3 56
38 ,4 3 3
38 ,5 04
38 ,5 7 5
3 8 ,5 2 3
3 8 ,8 0 4
39,5 66
39 ,8 7 5
40 ,4 5 8
40 ,8 91

36,801
36 ,865
37 ,387
37 ,3 70
37,8 32
38,289
3 8 ,6 32
39 ,3 98
39 ,8 37
40 ,2 57

37,994
38 ,1 60
3 8 ,1 45
38 ,2 66
38 ,2 10
38 ,4 92
3 9 ,1 82
39 ,471
40 ,0 56
40,3 91

165.3
166.4
167.7
168.6
169.1
170.2
171.8
172.9
174.0
175.2

3 7 #799
38 ,330
38 ,1 89
38,0 69
38,434
38 ,5 1 2
39,3 53
39,997
40,6 79
41,572

36 ,244
36,7 62
37 ,0 71
36 ,864
37 ,743
37,996
38 ,4 20
3 9 ,5 19
4 0 ,0 58
40 ,9 38

37 ,4 37
38 ,0 5 7
37,8 30
37 ,7 61
3 8 ,1 20
38 ,1 99
38 ,9 69
39,5 92
40 ,2 7 7
41 ,0 72

163.3
165. 6
167. 1
168.2
170.0
170.4
171.4
17 2 . 9
175. 1
178.4

1983— J A N .
FEB.
MAB.

40 ,9 54
4 0 ,4 62
40 ,7 19

40 ,4 25
3 9 ,8 80
39 ,9 28

40,4 08
40,037
40 ,3 03

177. 1
177.6
179.3

42,252
40,229
40 ,1 52

41,7 23
39 ,6 47
39 ,361

41,7 06
39 ,8 04
39,7 36

177.3
175.4
177.0

2
9
16
23
30

40 ,8 11
40 ,3 67
110,501
41 ,0 10
40 ,9 34

40,1 01
3 9 ,7 41
39,611
40 ,3 69
40,041

40 ,2 92
39 ,899
40,110
40,701
40 ,4 96

178.5
178.5
178.9
179.7
18 0. 1

40 ,2 92
39,5 48
40,005
40,497
40,519

39 ,5 82
38,922
39,115
39 ,8 56
3 9 ,6 26

39 ,7 73
39 ,0 80
39 ,6 1 4
40,188
40,0 81

175.2
176.9
177.2
177.2
177.0

6
13 P
20 P
27 P

40,9 83
40 ,4 90
41 ,4 88
4 0 ,9 70

39,2 26
39 ,9 05
40 ,8 23
39,799

40 ,377
39,9 55
41 ,2 4 9
40,607

179.8
179.4
180.9
180.8

40,1 40
39 ,9 6 9
41,8 27
41 ,4 06

38 ,383
39 ,384
41,1 62
40,2 35

39 ,5 3 4
39 ,434
41,588
41 ,0 43

17 9. 1
17 9 . 3
18 0 . 5
17 9 . 2

P

NEEK ENDING:

1983— MAB.

APB.

1/

2/

3/

BESEBVE AGGREGATES INCLUDE REQUIRED RESERVES OF MEMBER BANKS AHD EDGE ACT CORPORATIONS AND OTHER DEPOSITOR!
I N S T I T U T I O N S - D I S C O N T I N U I T I E S ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT , THE INCLUSION
OF EDGE ACT CORPORATION RESERVES, AND OTHEB CHANGES I N REGULATION D HATE BEEN BEHOVED.
BESEBVE BALANCES HITS FBDEBAL RESERVE BANKS (HHICH EXCLUDE BEQUIBED CLEABING BALANCES) PLUS VAULT CASH AT
J J S T I T U T I O I S k i t h REQUIRED BESEBVE BALANCES PLUS VAULT CASH EQUAL TO BEQUIBED RESERVES AT OTHEB I N S T I T U T I O N S .
INCLUDES BESEBVE BALANCES AND BEQUIBED CLEARING BALANCES AT FEDERAL RESERVE BANKS I N THE CURRENT WEEK PLUS
VAULT C A S * HELD T 1 0 SEEKS EABLIEB USED TO S A T I S F Y BESEBVE REQUIREMENTS AT ALL DEPOSITORY I N S T I T U T I O N S PLUS
COBBEVCY OUTSIDE TBS U . S . TREASURY, FEDEBAL BESEBVE BANKS, THE VAULTS OF DEPOSITOBY I N S T I T U T I O N S , AND
S0 BP L 8S VA8LT CASH AT DE P OS IT OR I I N S T I T U T I O N S .

NOTE: HISTORICAL DATA ABE AVAILABLE FBOB THE BANKING SECTION,
BOABD OF GOVEBBOBS OF THE FBDEBAL BESEBVE SYSTEM, VASBINGTON,




D IV IS IO N OF BESEABCH AND S T A T IS T IC S ,
D -C 20551.

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
Period

total 2

nonborrowed

required

Monetary
base3

millions of dollars
1982— BAR.
APR.
BAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.

3 9 ,2 3 5
3 9 ,5 5 7
3 9 ,5 5 0
3 9 ,5 6 5
3 9 ,9 6 7
4 0 ,1 7 8
3 9 ,9 6 2
4 0 ,5 8 7
4 1 ,1 9 9
4 1 ,8 5 3

3 7 ,6 8 0
3 7 ,9 8 9
3 8 ,4 3 3
3 8 ,3 6 0
3 9 ,2 7 5
3 9 ,6 6 2
3 9 ,0 2 8
4 0 ,1 0 9
4 0 ,5 7 8
4 1 ,2 1 9

3 8 ,8 7 3
3 9 ,2 8 4
3 9 ,1 9 1
3 9 ,2 5 7
3 9 ,6 5 3
3 9 ,8 6 6
3 9 ,5 7 8
4 0 ,1 8 2
4 0 ,7 9 7
4 1 ,3 5 3

1 6 5 .4
1 6 7 .6
1 6 9 .2
1 7 0 .4
1 7 2 .3
1 7 2 .8
1 7 2 .3
1 7 3 .8
1 7 6 .0
1 7 9 .3

1983— JAN.
FEE.
BAR.

4 1 ,8 6 2
3 9 ,7 8 7
3 8 ,0 1 7

4 1 ,3 3 3
3 9 ,2 0 5
3 7 ,2 2 6

4 1 ,3 1 6
3 9 ,3 6 2
3 7 ,6 0 2

1 7 7 .9
1 7 6 .0
1 7 5 .9

2
9
16
23
30

3 9 ,8 2 7
3 7 ,3 4 1
3 7 ,7 6 0
3 8 ,2 0 5
3 8 ,2 6 3

3 9 ,1 1 7
3 6 ,7 1 5
3 6 ,8 7 0
3 7 ,5 6 4
3 7 ,3 7 0

3 9 ,3 0 8
3 6 ,8 7 3
3 7 ,3 6 9
3 7 ,8 9 6
3 7 ,8 2 5

1 7 5 .8
1 7 5 .7
1 7 6 .0
1 7 6 .0
1 7 5 .9

6
13 P
20 P
27 P

3 7 ,9 0 2
3 7 ,7 1 5
3 9 ,4 1 2
3 8 ,9 8 2

3 6 ,1 4 5
3 7 ,1 3 0
3 8 ,7 4 7
3 7 ,8 1 1

3 7 ,2 9 6
3 7 ,1 8 0
3 9 ,1 7 3
3 8 ,6 1 9

1 7 8 .0
1 7 8 .2
1 7 9 .2
1 7 8 .0

P

SEEK ENDING:

1983— BAR.

APR.

1/

1/
/

RESERVES OF D EPO SITO R ! IN S T IT U T IO N S SEBXES REFLECT ACTUAL RESERVE REQUIREBENT PERCENTAGES WITH VO ADJUSTflEHTS TO E L IB IN A T E THE EFFECT OF CHANGES I I REGULATION D, INCLUDING C H AI6BS ASSOCIATED WITH THE IH PLBBBNT A T IO I OF THE BONETARY CONTROL A CT.
IMCLODES REQUIRED RESERVES OF BEBBSR BANKS AMD EDGE ACT CORPORATIONS
AND, BEGINNING ROVEHBEB 13, 1 9 80 , OTHER DEPOSITORY I N S T I T U T I O N UNDER THE T R A N S IT IO N A L P H A S E -IN PROGRAB
OF THE BONETARY CONTROL ACT OF 1980 AMD PR O V ISIO N S OF THE DEPOSITORY IN S T IT U T IO N S ACT OF 1 9 8 2 , THE RET
CHANGES I N REQUIRED RESERVES OF DEPOSITORY IN S T IT U T IO N S HAVE BEES AS FOLLOWS:
EFFECTIVE NOVEBBER 1 3 , 19 80 ,
A REDUCTION OF $ 2 .9 B IL L IO N ; FEBRUARY 12 , 19 81 , AN INCREASE OF $2 4 5 B IL L IO N ; BARCH 12 , 1 9 8 1 , AM INCREASE
OF $75 B IL L IO N ; BAY 14 , 19 8 1 , AH INCREASE OF $2 45 B IL L IO N ; SEPTEHSER 3 , 1981, A SEDUCTION OF $ 1 .1 B IL L IO N ;
NOVEMBER 12, 19 8 1 , AN INCREASB OF $2 1 0 B IL L IO N ; JANUARY 1 4 , 1 9 8 2 , A REDUCTION OF $60 B IL L IO N ; FEBRUARY 1 1 , 1982
AN INCREASE OF $170 B I I L I O N ; BARCH 4 , 19 8 2 , AN ESTIMATED REDUCTION OF $ 2 .0 B IL L IO N ; BAY 1 3 , 1 9 8 2 , AN ESTIMATED
INCREASE OF $150 B IL L IO N ; AUGUST 12, 19 82 , AN EST1BATED INCREASE OF $1 40 B IL L IO N ; SEPTEMBER 2 , 19 8 2 , AN ESTIBATED
REDUCTION OF $ 1 .2 B IL L IO N ; OCTOBER 2 8 , 19 82 , AN ESTIBATED REDUCTION $1 00 B IL L IO N ; DECEMBER 2 3 , 1 9 8 2 , AN ESTIMATED
REDUCTION OF $800 B IL L IO N ; AND BARCH 3 , 1 9 8 3 , AN ESTIBATED REDUCTION OF $ 2 .0 B IL L IO N .
BEGINNING WITH THE WEEK
ENDED DECEMBER 2 3 , 1 9 81 , RESERVE AGGREGATES HAVE BEEN REDUCED BY S H IF TS OF RESERVABLE L I A B I L I T I E S TO IN TERNATIO NAL
BANKING F A C I L I T I E S ( I B F S ) .
ON THE B A S IS OF REPORTS OF L I A B I L I T I E S TRANSFERRED TO IB F S BY U .S . COBBERCIAL BANKS AND
AND AGENCIES AND BRANCHES OF FOREIGN BANKS, I T I S ESTIBATED THAT REQUIRED RESERVES WERE LOWERED ON AVERAGE BY $60
TO $90 B IL L IO N IN DECEBBER 1981 AND $ 1 80 TO $2 30 M ILLIO N IN JANUARY 1 9 8 2 , MOSTLY REFLECTING A REDUCTION IN RESERVABLE
EUROCURRENCY TR AN SAC TIO N S.
ALSO, BEGINNING WITH THE WEEK ENDING A P R IL 2 0 , 1 9 8 3 , REQUIRED RESERVES WERE REDUCED AN
ESTIBATED $80 B IL L IO N AS A RESULT OF THE D IB IN U TIO N OF RESERVE REQOIREBENTS ON NONPERSONAL TIM E DEPOSITS WITH
B A T U R IT IS S OF 2 -1 / 2 YEARS OR BORE TO LESS THAN 3 -1 / 2 YEARS.
RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDED REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT
IN S T IT U T IO N S WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER IN S T IT U T IO N S .
INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS I N THE CURRENT WEEK PLUS
VAULT CASH HELD TWO WEEKS EARLIER USED TO S A T IS F Y RESERVE REQUIREBENTS AT ALL DEPOSITORY IN S T IT U T IO N S PLUS
CURRENCY OUTSIDE THE U .S . TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY IN S T IT U T IO N S , AND
SURPLUS VAULT CASH AT DEPOSITORY IN S T IT U T IO N S .