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FEDERAL RESERV~ttttistical release For Immediate Release ~;,:~ 7able 1 AGGREGATE RESERVI':S AND ! <1!rage of darlv frQUres Pe1!¥QJ!A BANK .},. DEPOSITS I •· lilY Reserves of deposrtory' mstrtutrons 1 Period total2 )non borrowed/ required Monetary base3 total mrllrons of dollars II • 1981 Member bank deposrts subJect to resenfe requrrements time and 1 private demand deposrts u.s. I savings total other / government net interbank demand billions of dollars I J· I J seasonally adjusted 1980--IIAR. APR. IIU JUNE JULY AUG. SEI?T. OCT. NOV. ? DEC. ? 113,669 411,8116 1111,1146 113,959 42,781 110,7119 41,517 111,727 41,227 40,131 110,8116 112,391 113,1127 113,580 42,386 110,090 40,206 40,417 39,168 38,441 113,483 411,6119 44,268 43,756 42,497 1981--JU. p FEB. ? ? 40,099 .39,758 40,247 11 p 18 p 25 p p p p p liAR. 41,262 41,521 110,730 39,579 156.7 158.0 158.8 159.1 158.9 158.2 159.11 160.7 160.4 159.6 6119.1 655.11 656.8 658.0 658.5 667.8 678.2 684.7 6911.3 701.8 1157.9 11611.2 467.7 1167.9 1167.0 11711.2 1182.0 486.7 494.0 504.0 189.4 188.7 187.3 188.4 189.1 191.5 194.5 195.6 198.1 196.0 15.6 17.2 17.1 16.9 16.6 111.4 15.9 16.5 17.4 17.5 173.9 171.5 170.2 171.5 172.5 177.1 178.6 179.1 180.7 178.4 1.8 2.14 1.8 1. 7 2.5 2.1 1.8 2.4 2.2 1. 9 38,704 38,454 39,248 39,555 39,575 39,866 160.1 160.6 161.3 703.8 704.3 703.6 517.4 523.3 524.7 184.1 178.9 176.8 16.9 17.8 18.0 167.1 161.1 158.8 2.3 2.1 2.0 40,739 39,895 40,2511 40,077 39,4110 39,127 39,1180 39,189 40,042 39,665 39,911 39,917 161.5 160.11 161.2 161.3 7011.6 704.2 7011.11 701.6 5211.6 524.0 525.3 525.6 177.8 177.9 176.5 174.6 18.0 18. 1 17.9 17.8 159.8 159.8 158.6 156.9 2. 2 2. II 2.6 1. 4 40,521 39,447 40,096 110,070 39,057 38,560 38,954 39,206 39,871 39,396 39,778 110,505 162.1 160.6 161.7 162.5 703.7 708.5 711.7 712.1 525.2 527.2 530.8 532.3 177.1 177.9 177.5 177.7 18.6 17.7 18.6 11.2 158.4 160.1 158.9 160.11 1.5 3.4 3.4 2.1 110,11111 i!EK ENDIHG: -----------1981--IIAR. -i APR. 1 8 15 22 p not seasonally adJU9ted 1980--IIAR. AP.&.. !lAY JUNE JULY AUG. SE.PX. OCT. NOV. p DEC. ? 43,096 44,880 43,963 43,1172 112,859 110,373 111,1611 111,7011 41,221 40,619 110,273 42,425 42,945 43,092 42,464 39,715 39,852 40,3911 39,161 38,929 42,910 411,683 43,785 43,268 112,575 110.071 40,908 111,498 40,723 40,067 154.9 157.5 157.8 158.6 159.6 158.0 159.0 160.6 161.5 162.5 648.0 657.7 651.5 656.9 658.2 662.5 675.6 6811.2 694.6 710.3 460.6 1164.7 467.7 467.11 1166.0 471.8 479.6 485.7 1193.0 505.0 185.5 190.11 182.1 187.2 190.0 189.0 193.9 196.4 199.6 203.2 15.2 16:8 16.2 16.6 16.8 111.2 15.8 16.5 18.0 18.2 170.11 173.6 165.9 170.6 173.2 1711.8 178.1 179.8 181.6 185.0 1. 9 2..6 1.7 2.3 2.2 1. 7 2.1 2.1 1. 9 2.1 FEB. p 2 II Ali. ? 41,569 39,631 39,753 40,175 38,327 38,753 41,025 39.44 8 39,372 161.0 158 • .9 159.6 712.6 701.5 703.1 520.5 524.8 527.9 189.9 174.6 173.2 18.1 17.5 17.6 H1.8 157.0 155.6 2. 1 2.0 2. 1 "p 40,176 39,098 39,834 39,624 38,877 38,330 39,060 38,736 39,479 38,868 39,491 39,4611 159.2 159.3 159.9 159.3 702.1 702.4 705.3 699.5 525.7 526.1 528.4 528.7 174.5 174.5 173.7 169.1 18.0 17.6 17.4 17.2 156.4 156.9 156.3 151.8 2.0 1~ 9 3.1 1.7 p p ? 40,292 38,888 39,938 110,304 38,828 38,001 38,796 39,44 0 39,6112 38,837 39,620 40.739 160.1 160.7 162.0 161.9 705.6 713.4 715.9 716.0 529.9 530.9 531.9 531.8 174.3 179.7 181.0 181.1 17.9 17.8 17.8 16.5 156.11 161.9 163.2 164.6 1.4 2.8 3.1 3.1 1981--JAN. iEEK ENDING: -----------1981--IIAR. 11 p 18 p 25 p AI? B. 1 8 15 22 I? See reverse srde for explanation of footnotes. ~ H.3 Taoie 2 AGGREGATE RESERVES AND MONETARY BASE ActUSted for changes 1n reserve requlll!lllents 4_ A>~ of dl!llv f1gures Reserves of depOSitory mst1tut1ons ~tal 1. nonborrowed reQUired Penod millions of dollars seasonally adJusted Reserves of depositOry mstirutlons _1 nonborrowed _l ~ m1llions of dollars not seasonally adJusted Mo~etarv base 3 ---wtaf2 lb111ions of dollars b1lhonsotdollars 34,653 35,060 36,466 37.081 37,176 37,392 37,411t 37,583 . 31,991 38,11o20 37,290 37,319 37,307 37,257 37,286 37,748 38,1170 38,687 39,559 39,557 149.6 149.8 150.9 151.7 152.8 154.6 155.7 156.9 158.9 159.5 36,919 37,532 37,061 37,007 37,665 37,706 38,401 38,875 40,056 40,598 34,095 35,077 36,043 36,628 37,270 37,0118 37,090 37,565 37,996 38,907 36,733 37,335 36,883 36,801J 37,380 37,404 38,145 38,669 39,558 110,045 1117.8 1119.3 150.0 151.2 153.5 154.5 155..3 156.9 160.0 162.5 40,077 39,588 .. 39,981 38,683 38,284 38,982 39,533 39,405 39,600 160.1 160.4 161.4 41,548 39,461 39,487 40,153 38, 157 38,487 111,004 39,278 39,106 161.0 158.8 159.7 ;j0,473 39,629 39,988 39,811 39,174 38,861 39,214 38,923 39,776 39,399 39,645 39,651 161.6 160.5 161.3 161.4 39,910 38,832 39,568 39,358 38,611 38,064 38.7911 38,470 39.213 38,602 39,225 39,198 159.3 159... 160.0 159.11 40,255 39,181 39,830 39,804· 38,791 38,294 38,688 38,940 39,605 39,130 39,512 40,239 162.3 160.8 161.9 162.7 40,026 38,622 39,672 40,038 38.562 31,135 38,530 39,174 39,376 38,571 39,354 "0,1173 160-3 160.9 162.2 162.1 1530--!!!R. APR. !!AI JUliE JULY· AUG. SEPT. OCT. 5 NOV. p DEC. p 37,476 37,516 37,485 37,460 31,510 38,050 38,725 38,893 40,056 40,11(J B9l--J!ll. p FEB. p !!!B. ·P i;;!!K 1 Monetary base 3 EliDI!iG: ----------1 ~ 31--d!li. APR. 4 l? 11 p 18 p 25 p 1 p 8 p 15 22 p p ? - ?IIELII!IlllBY 1/ RESERVES OF DEPOSITORY INSTITUTIONS SERIES REFLECT ACTUAL RESERVE REQUIBEI!ENT PERCENXAGES WITH !10 ADJUSTl!ENT TO ELI!!IH!TE THE EFFECT OF CHANGES Ill REGULATIONS D AND K. PRIOR TO NOVE!!BBR l3r 1980, THE DATE OF :3PLE!!ENTATION OF ~BE l!ONETARY CONTROL ACT, ONLY THE RESERVES OF COMI!ERCIAL BANKS THAT WERE ME!!BERS OF THE FEDERAL RESERVE SYSTB!! WERE INCLUDED IN THE SERIES. SINCE THAT DATE THE SERIES INCLUDE THE RESERVES OF ALL ~EPOSITORY INSTITUTIONS. IN CONJUNCTION WITH THE Il!PLEMENTATION OF THE ACT, REQUIII3D RESERVES OF ~El!BER BANKS WERE REDUCED ABOUT $4.3 BILLION AND REQUIRED RESERVES OF OTHER DEPOSITORY INSIITUTIONS WERE INCREASED ABOUT $1.4 BILLION. ALSO IN CONJUNCTION WITH THE MONETARY CONTROL ACT, REQUIRED RESERVES OF CERTAIN NON!!E~BER BANKS AliD FOREIGN-RELATED INSTITUTIONS INCREASED BY APPROXI~ATELY $245 MILLION EFFECTIVE F3BBUARY 18. 1981 PURSUANT TO 1HE TRANSITIONAL PHASE-IN PROGRAM. EFFECTIVE OCTOBER 11, 1979, AN 8 PERCENTAGE POINT l!ARGINAL 4ESERVE REQUIRE!!ENT WAS IIIPOSBD ON 11 l!ANAGED LIABILITIES 11 • THIS ACTION RAISED REQUIRED RESERVES ABOUT S320 l!Il.LION. EFFECTIVE KARCH 12, 1980, THE 8 PERCENTAGE POINT l!ABGINAL RESERVE REQUIREMENT WAS RAISED TO 10 PERCENTAGE POINTS. IN ADDIXION THE BASE UPON WHICH THE l!ARGINAL RESERVE BEQUIRBKENT WAS CALCULATED WAS REDUCED. THIS ACTION I!ICREAS_ REQUIRED RESERVES ABOUT $1.7 BILLION IN THE WEEK ENDING APRIL 2, 1980. EFFECTIVE MAY 29, 1980, !HE ~ARGIYAL BESEi BEQUIRE!!ENT WAS REDUCED FROM 10 TO 5 PERCENTAGE POINTS AND THE BASE UPON WHICH THE MARGINAL RESERVE REQU!liEIIEN1 WAS CALCULAIED WAS RAISED. THIS ACTION REDUCED REQUIRED RESERVES ABOUT $980 l!ILLION IN THE WEEK ENDING JUliE 18, 1980. EFFECIIVE JULY 24, 1980. THE 5 PERCENT MARGINAL RESERVE REQUIRE!!ENT ON MANAGED LIABILITIES AND THE 2 PERCENT SUPPLE!!ENTARY RESERVE REQUIRE!!ENT AGAINST LARGE TI!!E DEPOSITS WERE RE!!OVED. XBESB ACTIONS REDUCED REQUIRED RESERVES ABOUT $3.2 BILLION. 2/ RESERVE BALANCES iiTB FEDERAL RESERVE BANKS PLUS VAULT CASH AT INSTITUTIONS WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS. 3/ INCLUDES RESERVE BALANCES AT FEDERAL RESERVE BANKS IN THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS ~AR LIER 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 DEPCSITORY INSTITUTIONS. ~/ RESERVE AGGREGATES SERIES HAVE BEEN ADJUSTED TO RE!!OVE DISCONIINUITIES ASSOCIATED iiTH THE IIIPLE!!BNTATION OF THE l!ONETARY CONTROL ACTr IIARGINAL RESERVE REQUIREMENTS. THE INCLUSION OF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES Ill REGULATIONS D AND K. PRIOR TO FEBRUARY 18, 1981, RESERVE AGGREGATES SERIES HAVE BEEN ADJUSTED HISTORICALLY TO CONFORM TO THE STRUCTURE OF RESERVE REQUIRE!!ENTS CURRENTLY IN EFFECT. BEGINNING FEBRUARY 18, THE SERIES HAVE BEEN ADJUSTED TO REMOVE THE EFFECIS OF SCHEDULED TRANSITIONAL CHANGES IN IIESERVE BEQUIBEI!EBTS UNDER THE !!CA. 5/ RESERVE l!EASURES FOR NOVEMBER REFLECT INCREASES IN REQUIRED RESERVES ASSOCIATED WITH THE REDUCTION OF WEEKEND AVOIDANCE ACTIVITIES OF A FEW LARGE BANKS. THE REDUCTION IN THESE ACTIYI~IES LEADS TO ESSENTIALLY A ONE-TI~E INCREASE IN THE AVERAGE LEVEL OF REQUIRED RESERVES THAT NEED TO BE HELD FOR A GIVEV LEVEL OF DEPOSITS ENTERIIG THE l!ONEY SUPPLY. lR NOVEMBER, THIS INCREASE IN REQUIRED RES·ERVBS IS ESTI!!ATED AT $550 TO $600 I!ILLIOM. IOTB: HISTORICAL DATA ARB AVAILABLE FRO!! THE BANKING SECTION, DIVISION OF RESEARCH AND STATISTICS, BOARD OF GOVEBIORS OF THE FEDERAL RESERVE SYSTB!!, WASHINGTON, D.C., 20551.
@FedFRASER