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K % ^.. * • ¥T?C * FEDERAL RESERVE statistical release -rp^u H.3 (502) For Immediate Release NOVEMBER Table 1 1, 1982 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve requirements! Averages of daily figures Reserves of depository Institutions" tota!2 | nonborrowed required Period millions of dollars seasonal l>/ adjusted Monetary base3 billions of dollars Reserves of depository institutions required total2 nonborrowed millions of dollars not seasonally adjusted Monetary base3 billions of dollars 1981—SEPT. OCT, NOV. DEC. 37,721 37,603 37,615 37,988 36,265 36,422 36,952 37,351 37,307 37,325 37,270 37,668 160.6 160.8 161.2 162.7 37,519 37,696 37,782 38,662 36,063 36,515 37,119 38,025 37,105 37,418 37,438 38,342 160.2 160.8 162.6 165.8 1982—JAN. FEB, MAR. APJ*. HAY JUNE JULY AUG. SEPT. 38,713 38,262 38,356 38,433 38,504 38,575 38,523 38,804 39,566 37,195 36,472 36,801 36,865 37,387 37,370 37,832 38,289 38,632 38,295 37,958 37,994 38,160 38,145 38,266 38,210 38,492 39,182 164.3 164.7 16S.2 166.5 167.7 168.8 169.2 170.1 171-9 40,036 38,052 37,799 38,330 38,189 38,069 38,434 38,512 39,353 38,519 36,262 36,244 36,762 37,071 36,864 37,743 37,996 38,420 39,618 37,748 37,437 38,057 37,830 37,761 38,120 38,199 38,969 165.3 162.9 163.3 165.6 167.1 168.2 170.0 170.4 171.4 1 8 15 22 29 38,889 33,421 39,462 39,813 39,623 38,382 38,473 38,132 39,003 38,870 38,527 38,756 39,142 39,563 39,338 17Q.8 171.3 171.8 172.1 172.2 38,670 38,804 38,947 39,708 40,008 38,163 37,856 37,617 38,898 39,255 38,308 38,139 38,627 39,458 39,723 169.4 172.3 171.6 171.4 170.7 6 13 P 20 P 27 P 39,844 39,261 40,192 40,069 39,^40 38,901 39,677 39,617 39,335 38,730 39,893 39,799 172.3 172.3 173.1 173.1 39,655 38,775 40,689 40,469 39,049 38,415 40,174 40,017 39,144 38,244 40,390 40,199 172.6 172.7 173.5 172.3 WEEK ENDING: 1982—SEPT. OCT. I p _, PR]?T,TMTNARY 1/ RESERVE AGGREGATES INCLODE JSEQUIRED RESERVES OP MEMBER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITORY INSTITUTIONS. DISCONTINUITIES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT, TJ1E INCLUSION OP EDGE ACT CORPORATION RESERVES, AND OTHEH CHANGES IN REGULATION D HAVE BEEN REMOVED. BEGINNING WITH THE WEEK ENDED DECEMBER 23, 1981, RESERVES AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF RESERVABLE LIABILITIES TO INTERNATIONAL BANKING FACILITIES (IBFS). ON THE BASIS OP REPORTS OP LIABILITIES TRANSFERRED TO IBFS BY U.S. COMMERCIAL BANKS AND U.S. AGENCIES AND BRANCHES OF FOREIGN BANKS, II IS ESTIMATED THAT REQUIRED RESERVES HERE LOWERED ON AVERAGE BY $10 TO $20 MILLION IN DECEMBER 1981 AKE $40 TO $70 MILLION IN JANUARY 1982. 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 THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS EARLIER USED TO SATISFY RESERVE REQUIREMENTS AT ALL DEPOSITORY INSTITUTIONS PLUS CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSIITU1IONS, AND SURPLUS VAULT CASH AT DEPOSITOBY INSTITUTIONS. 2/ 3/ NOTE: HISTORICAL DATA ARE AVAILABLE FROM THE BANKING SECTION, DIVISION OF RESEARCH AND STATISTICS, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, WASHINGTON, 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 tota|2 Period nonborrowed Monetary base3 required millions of dollars 1381—SEPT. 40,591 40,711 40,948 41,924 35,134 39,531 40,285 41,287 40,177 40,433 40,604 41,604 43,203 41,286 39,235 39,557 39,550 39,565 39,967 40,178 39,962 41,685 39,496 37,680 37,983 38,433 38,360 39,275 39,662 39,028 42,784 40,982 38,873 39,284 39,191 39,257 39,653 39,866 39,578 169.1 166.8 165.4 167.6 169.2 170.4 172.3 172.8 172.3 1 8 15 22 29 40,428 39,379 39,555 40,254 40,551 39,921 38,431 38,225 39,444 39,798 40,066 38,714 39,235 40,004 40,266 172.0 173.1 172.4 172.2 171.5 6 13 P 20 P 21 P 40,248 39,414 41,271 41,048 39,642 39,054 40,756 40,596 39,737 38,883 40,972 40,778 173.5 173.6 174.4 173.2 oca. NOV. DEC. 1982—JAN. fEB. MAR. APR. HAT JUNE JULY AUG. SEPT. • 163.9 164.3 166.3 169-7 WEEK ENDING: 1982—SEPT. OCT. 1/ 2/ 3/ BESERVES OF DEPOSITOBY INSTITUTIONS SERIES REELECT ACTUAL BESEBVE BEQUIBEHENT PEBCENTAGES WITH NO ADJUSTMENTS TO ELIMINATE THE EFFECT OP CHANGES IN BEGULATION D, INCLUDING CHANGES ASSOCIATED WITH THE IMPLEDBNTATION OF THE MONETARY CONTBOL ACT. INCLUDES BEQUIBED RESERVES CF MEMBER BANKS AND EDGE ACT CORPORATIONS AND, BEGINNING NOVEMBER 13, 1980, OTHEfi DEPOSITOBY INSTITUTIONS- UNDEB THE IRANSIIIONAI PHASE-IN PBOGBAH OP THE MONETARY CONTROL ACT 01 1980, THE NET CHANGES IN BEQUIBED RESERVES OP DEPOSITORY INSTITUTIONS HAVE BEEN AS FOLLOWS! EFFECTIVE NOVEMBEB 13, 1980, A DEDUCTION OF $2-9 BILLION; FEBBUABI 12, 1981, AN INCREASE OF $245 MILLION; MARCH 12, 1981, AN INCREASE OF $75 MILLION; fAY 14, 1981, AN INCREASE OF $245 MILLION; AUGUST 13, 1981, AN INCBEASE OF $230 MILLION; SEPTEi!BEB 3, 1981, A BEDUCTION OF $1.1 BILLION; NOVEMBEB 12, 1981, AN INCBEASE OF $210 MILLION; JANUABY 14, 1982, A BEDUCTION OF $60 MILLION; FERBUABY 11, 1982 AN INCREASE OF $170 MILLION; MABCH 4, 1982, AN ESTIMATED BEDUCTION OF $2.0 BILLION; MAY 13, 1982, AN ESTIMATED INCBEASE OF $150 MILLION; AUGUST 12, 1982 AN ESTIMATED INCBEASE OF $140 MILLION; AND SEPTEMBER 2, 1982, AN ESTIMATED REDUCTION OF $1.2 BILLION. BEGINNING WITH THE WEEK ENDED DECEMBER 23, 1981, BESEBVE AGGBEGATES HAVE BEEN BEDUCED BY SHIFTS OF BESEBVABLE LIABILITIES TO INTERNATIONAL BANKING FACIIITIES (IBFS). ON THE BASIS OF REPORTS OF LIABILITIES TRANSFERRED TO IBFS BY U.S. COMMERCIAL BANKS AND U.S. AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIMATED THAT BEQUIBED BESEBVES HEBE LOWEBED ON AVERAGE BY $60 TO $90 MILLION IN DECEMBEB 1981 AND $180 TO $230 IN JANUABY 1982, MOSTLY BEFLECTING A BEDUCTION IN BESEBVABLE EUBOCUBBENCY TRANSACTIONS, .RESERVE BALANCES WITH FEDERAL RESEBVE BANKS (WHICH EXCLUDE BEQUIBED CLEARING BALANCES) PLUS VAULT CASH AT INSTITUTIONS BITH BEQUIBED RESERVE BALANCES PLUS VAULT CASH EQOAL TO BEQUIBED BESEBVES AT OTHEfi INSTITUTIONS. INCLUDES BESEBVE BALANCES AND BEQUIBED C1EABING BALANCES AT FEDERAL BESEBVE BANKS IN THE CUBBENT 1EEK PLUS VAULT CASH HELD TWO WEEKS EABLIEB USED TO SATISFY BESEBVE REQUIREMENTS AT ALL DEPOSITOBY INSTITUTIONS PLUS CURRENCY OUTSIDE THE U.S- TREASURY, FEDEBAL BESEBVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, ANJ) SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS.
@FedFRASER