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FEDERAL RESERVE statistical release For Aeleuelll 4:30 e-t.m Time H.3 (S)2) Table 1 !Ill AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE 7, 1987 Nqulrementl1 Adjusted lOr chengea In ,...,.. Averages of dally flgWM, -IIOIIIIIIy edjueted uniHI noted otllerwiM Millions of dollare Reserve• of depository lnetltutlone Dlta total nonborrowed nonborrowed plus extended credit• Nqulred exceaa NSA' Monetary baM1 Borrowlnga of depository lnetltutlona from the Federal Raaerve, NSA aeaaonal extended credit" total 89J 876 803 741 6311 5811 531 318 1165 570 1197 418 303 1986--lPR. IIAI JUliE JULI AUG. SEPT. OC:.:T. HOY. DEC. 47,282 48,!>17 49,11115 50,489 51,318 51,8119 52,401 53,823 !>5,1>38 46,390 47,701 48,642 49,748 50,446 50,801 51,559 S3,071 54,811 47,024 48,285 4'J,172 50,12b 50.911 !>1,371 5..!,056 53,489 55,1111 116,1181 ll7,1l9 118,5111 49,579 50,579 51,083 51,655 52,845 511,269 801 838 931 910 7110 726 746 978 1,369 222,341> 224,880 226,637 228,363 230,59'l 231,691 233,461 236,0&7 238,844 1,008 841 752 827 1987--JAI. PES.. II AB. APR. PB 56,640 56,1188 51>,260 S7,049 5&,060 55,932 55,733 56,057 56,285 56,215 !>5,997· 56,327 55,572 55,277 S5,J44 5&,235 1,068 1,211 916 815 242,017 2113,1153 243,918 245,594 580 55& 527 99J 311 71 91 120 .225 283 5&,499 Sb,867 55,858 55,911 5&,10& 56, 118 55,819 56,070 679 798 244,119 245,519 6111 951> 98 110 248 267 57,919 56,S09 s&,80a 5&,940 979 21l7,201 1,410 159 299 812 73 94 108 116 144 1l7 99 70 38 264 270 TIIO lEEKS BHDUG --------1987-APB. !lAY 8 22 p 6 PE P---PRELIIIIBlRI PE--PULI IIIIJABI BSUIIU'E 1/ BESBRYES AHD IIOIETlRI BASE FIGURES IICORPOillTE ADJOSTKBITS POl DISCOITIIUITIIS ASSOCIATED liTH THE IIIPLBIIEITlTIOI OP TBB BOIBTlBt COITROL ACT liD OTHER RB~OLATORI CBliGBS TO RBSBBYB BBQUIBBIIBITS. TO ADJUST POll DISCOITIIUITI&s DUB TO CBAMGBS II RBSBRYE BBQOIREIIBITS 01 BBSBBYABLB IOIDEPOSIT LIABILITIES, THE SOli OP SUCH REQUIRED RESBilJBS ARB SUBTRACTED PllOft TBB ACTUAL SIBIBS. SIIIILAaLI, II lDJUSTIIG FOB DISCOITIIUITIBS II TBB BOIBTABI BASE, iBQUlBBD CLEA&IIQ BALAICBS AID A~USTBBITS TO COIIPBISATB POB PLOlT ALSO ABB SUBTRACTED PBOII THE ACTUAL SERIES. 2/ TOTAL BBSBBJBS lOT ADJUSTED POB DISCOITINUITIBS COISISTS OF BESBIYB BALAICBS IITB PBDBBAL RBSEBfB BAlKS (BBICB BICLODB BBQOIRED CLEARING BALAICKS AID ADJOSTIIEITS TO COIIPEHSATB FOR PLOAT) PLUS fAULT CASH USED TO SATISPI RBSBBJE REQUIBBftBirS. SUCH YlULT CASH COISISTS OP ALL JlOLT ClSB HELD DUBIIG TUB L&GGBD COBPUTATIOI PERIOD Bl lNSTITOTIOIS. BAYIIG REQUIRED BBSBBfB BALAICBS AT ?BDEBAL BESEBYE BAlKS PLUS THE AIOUI% OF fAULT CASH EQUAL TO BBQOIBED BBSEBYBS DURIIG TBB KAIITBIAICB PEaiOD lT IISTITU!IOIS HAYIIG 10 BEQOIBBD BESBRYB BALAIC:.:BS. l/ BITBIDED CREDIT COISISTS OP BOBROIIIG lT TBB DISCOUIT VIIDOI UIDEil THE TIBBS AID COIDITIOIS BSTABLISBBD POR rBB BXTBIDBD CBBOIT PROGRAB TO HELP DBPOSITORI IISTITUTIOIS DEAL liTH SUSTAINED LIQUIDITY PBBSSUBBS. BBClUSE THERE IS lOT THB SlBB IBBD TO RBPAI SUCH BOBBOIIIIG PROIIPTLI AS THBRB IS liTH TRlDITIOIAL SHORT-TBBII ADJDSTftBIT CREDIT, THE 801&1 BARKBT IIIPAC! OP BITEIDBD CREDIT lS SIIIILAR TO THAT or NOIBOBROVBD RESBBfES. . 4/ BISBBYB BALAICBS liTH PBDBRAL RBSEBJB BANKS PLUS JAULT ClSB USED TO SATISPI IESBBJB IEQUIIBKBITS LBSS RBQUIIlBD RESBRfBS. 5/ THE IIOIBTlBI BASI NOT ADJUSTED FOB DISCOITIIDlTIBS COISISTS OP TOTAL RBSBIYBS PLUS RBQUI8ED CLBlRIIG BALAICBS liD ADJDST&BIT$ TO COBPBISATE POl PLOAT AT PBDERAL RBSEilYB BAliS PLUS THB CDRBBICI COIIPOIEIT OP THB 80181 STOCK LBSS TBE &BOUlT OP fAULT CASK HOLDIIGS OP TBBIPT INSTITOTIOIS THAT IS IICLUDED IN THB COBBBICY COBPOIBRT OP THB !lOlBI STOCK PLUS, 108 IISTITUTIOIS lOT HAYIIG REQUIRED BBSBBJB BlLliCBS, TUB BXCBSS OP CUBREIT YlULT CASH OYBil TB£ AIIOOIT APPLIED TO SATISPI CURBBIT RESERVE RBQUIRBBBITS •. ArTER THE IITRODDCTIOI OP CBB, CUBBEICY AID YAULT CASB PIGDRBS ARB IIBASUBBD OYER THE BOIDli-BIDIIG COIPUTATIOI PERIOD. PRIOR TO CRB, ALL COBPOIENTS OP THB BOIETABY BlSB OTHER THlR EXCESS RBSEBYES lRE SBASOIALLI ADJUSTED AS A WHOLE, BATBBR THll BY COIIPOIBNT, liD EXCESS BESBBYES IS ADDED 01 A lOT SBASOIALLY ADJUSTED BASIS. APTER CBB, THE SBASOIALLI ADJUSTED SBiliBS CONSISTS or SBASOIALLJ ADJUSTED TOTAL RESERVES (WHICH INCLUDES EXCESS &ESEBfES 01 A WOT SBlSOIALLI ADJUSTED BASIS) PLUS rHB SBASOIALLI ADJUSTED CURiEN~Y COftPONEIT or THB IOIEY STOC:.:K PLUS THE RBIIAINIIG ITIBS SllSONlLLI ADJUSTED AS l WHOLE. NOTE: HISTORICAL DATA ARB lYliLABLB FROII rHE BANKING SECTION, DlYISIOR OP RESBliCH AND STATISTICS, aoARD OP GOYBRHORS oP THB FEDERAL BBSBRVB SYSTEII, WASHINGTOB, D.C. l0551 H.3 (502) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Not adjusted for. changes in re!!:rve requirem_~.!!lJ} Averages of daily figures, not seasonally adjusted Millions of dollars '· · Monetary base~ Date surplus• 1 total total non borrowed required 1986--APBIllY JUIB JULY AUG. SEPT. OCT. IIOY. DEC. 48,882 48,419 49,938 51,029 51,277 53,189 54,623 56,399 59,560 47,989 47,543 49,135 50,288 50,405 52,180 53,782 55,647 sa. 733 48,081 47,581 49,007 so. 118 50,538 5l,46J 53,817 55,421 58,191 224,866 226,115 229,675 232,546 233,315 235,067 237,257 241,:.!67 247,707 28,892 28,279 29,499 30,313 30,165 31,922 32,947 34,803 37,360 22,231 22,474 22,804 23,098 23,451 23,384 23,753 23,543 24,071 19,990 20, 1110 20,439 20,7111 21,11l 21,267 21,676 21,595 22,199 2,241 2,334 2,365 2,381 2,3J9 2,117 1987--Jll. FEB. Ill B. APR. PB 59,&68 57,060 57,061 59,383 59,088 56,503 56.534 58,391 58,600 55,849 56, U6 58,569 24&,752 2114,220 2411,978 249,233 36,584 33,625 JS,318 37,794 25,049 25,889 23,759 23,35) 23,084 2J,US 4!1,743 . 21,589 1,965 2,454 2,016 1,764 57,708 60,498 57,067 59,542 57,029 59,701 .246, 186 250,965 36,358 38,738 23,198 23,479 21.350 21,761 1,848 1, 719 146 59,108 57,699 58,129 2119,249 37,580 23,289 21,528 1, 761 52 2,018 1,947 1,872 TIIO IIEEKS Ell DUG -------1987--lPL 8 22 p IllY. & PE P---PBBLilliJilBI PE--P&ELllllNlRJ BSTillATE. 1/ REFLECTS ACTUAL RESERVE B~QUIBBll~KTS, INCLUDIIG THOSE ON NONDEPOSIT LilBILITIBS, •ITH KO lDJUSTllEIITS ro ILilliKATB THB EFFECTS OF DlSCOIITIIIUITIES ASSOCIATED KITH lllPLBllENTlTIOII OP THE llOIIBTlRI COIITBOL ACT 08 OTH~R REGULlTORI CHliiGES TO RESERVE RBQUlBEllEIITS. 2/ COISISTS OF TOTAL BESEBYBS PLU$ REQUIRED CLEARIIIG BALANCES AIID lDJUSTllENTS TO COllPBISATB FOB F~OAT AT PBDEBlL B&SEBYE BANKS PLUS THE CURRENCY COllPONENT OP THE ~O~EX STOCK LESS THE lllODIT Of VAULT CASH ROLDIIIGS OF THRIFT IIISTITUTIOIS THAT IS IIICLUD~D Ill THE CURRENCY COllPOIEKT OF THE SOlEY STOCK PLUS, FOR IISTITOTIONS lOT BA,IIIG REQUIRED BBSEBYB BALANCES, THE EXCESS OF CUBRBIIT VAULT CASH OVER THE lSOONT APPLIED TO SlTlSFI CURREMT BESBBYB BBQUIBEllEITS. lPTEB THE INTRODUCTION OP CBB, CURRENCY liiD VAULT CASH FLGURBS ARB llEASUBED OYER THB llONDlY-BIDIIIG COSPUTATIOI PERIOD. 3/ EXCLUDES REQUIRED CLEARING BlLliiCES AND ADJUSTllENTS TO COSPEIISATE POR fLOAT. ~/ DATES REFER TO THB llAIIITEIIAIICE PERIODS IN WHICH THE VAULT CASH CAN BE USED TO SATISFY RESERVE BBQUIB&llEITS. UNDER CONTEKPORlNEOUS RESERVE REQUIREllEITS, ~liNTEilMCE PEBlODS EBD JG DAIS APTER THE LAGGED COSPDTlTION PERIODS II WHICH THB BALANCES ABE HELD. 5/ EQUAL TO ALL VAULT ClSB HELD DURIKG THE LAGGED COSPUTlTION PERIOD BY IIISTITUTIOKS HAYIIIG BBQUlBED 8BSERYI BALANCES AT FEDERAL RKSERYB BANKS PLUS THE A~OUNT OF YAOLT CASH EQUAL TO REQUIRED BESERYES DURING THE SAINTENAHCE PERIOD AT INSTITUTIONS HAYING 110 REQUIRED RESERVE BALANCES. 6/ TOTAL VAULT CASH AT INSTITUTIONS HAVING NO REQUIRED RESERVE BALAIICES LESS THE AllOONT OP VAULT CASH EQUAL TO THBI& REQUIRED RESERVES DDR15G THE ~llNTENAICE PERIOD. 1/ CONSISTS OF CARRYOV~R ONL! AT D~POSITORX lNSTITUTIOIS llAINTliNlNG RESERVES OR THE BASIS OF fWO-WEEK KAIIITEIIA.CE PERIODS. REFLECTS llXC.t;S$ (•I Olil I>.I!YIClT (-) l:lESlHiVES ELIGIBLE ·ro BE CARRIED FORWARD lN'fO l'HE TIIO-UEK R.I!SEkVE ~A1N~8NAN~E PERI30 E~OlNG UN TH~ DATF ~~OWN. 9 H.3 (502) Table 3 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjusted for changes In reserve requirements' Averages of daily figures, not seasonally adjusted Millions of dollars Reserves of depository Institutions nonborrowed Date total 1986--lPB. lilY JUU JU.LY AUG. SEPT. ocr. NOV. DEC. 1987--Jlli. lEB. !lAB. lPB. PE Monetary base required 117,943 167,712 49,198 50,319 50,o22 51,5116 52,341 511,107 57,165 117,051 16o,83o 48,395 49,518 469,749 50,538 51,500 53,355 so,lJ8 47,142 116,874 48,267 49,409 IJ9, 882 50,821 51,595 53,129 55,796 222,128 223,605 221,031 230,019 230,155 231,512 233,040 236,914 2463,041 58,249 55,595 55,565 57,862 57,669 55,038 55,038 56,869 57,182 54,383 514,650 51,0161 2462,806 240,258 2111,319 245,1412 56,253 58,921 55,612 57,965 55,573 58,123 242,566 2161,013 57,611 So,208 56,638 245,351 Till 0 if E.EKS l:IIID.UIG ------------1987--lPB. 8 J.J. p ti.U 6 Pt: P---PltELIIIUIARY PE--PBE.LIIliiilBY KSTIIllTE. 1/ FIGURES RhFLHCT ADJUSTMENTS FOR AID OlHEB REGULATORY CHAHG.ES TO A£SOCIATED VITB THE IftPLKftEITlTIOI OF THE REUUidEtiKNTS. DISCONTIMUITI~~ BES~~V.E llOH~TlMI CO.T&O.L ACT
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