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FEDERAL RESERVE statistical release
H.3~

Table1

IOfi!!BBi

AGGREGATE RESERVES OF DEPOSITORY INSMUTIONS AND THE MONETARY BASE
AG)U81edfarcllangMin -~·
A-8gea ol dally,....... _ . l y edlu.ted unleM lloled oiMrWIM
MIIIIOna ol dollars

-

Date

" - - - of dapoeltocy IMtltutlonl
IIOIIbonowed plu.
NQUINd

llOIIIIonowed

198!>--0CT.
llOV.
Di.C.

'611,:.!114
411,8117
4!>,o1.<

113 1 US6
11::1,106
1111,.<911

198o--J.Ui.
l'.EB.

115,!181
46,3711
116,81>5
t7,275
1111,577
169,11115
50, ..89
!>1,318
51,609
S.!,J97

115,111
45,1186
111>,104
117,701
'68,11112
.. 9,7118
50,11116
50,1101
51,556

!11,96.2
!i.l,JII1

51,Ub0
51,571

~:.!,671

51,9 72

a.u..

iPil.
BAY
JUSt
JU.I.l
AUG.
s..;P'&.
(X;

:r. Pli

lf6,J83

........ CNCIII'
U,bdS
43,631

-

13, 1986

llorlowlnle ol dlpoeltory Nlllullona
Monetely . . . .

10181

NSA'

.......,_..

.._ ..................... HilA
IN80MI

153
928
1,058

213,51>1>
:.!15,253
216,721

1,1117
1, 7111
1,318

172
107
56

62!1
530
119!1

44,771
45,272
115.968
46,4711
lt7. 7.39
48,514
49,579
50,579
51,083
51,656

1,111
1,097
896
801
838
931
910
7160
726
741

218,4011
219,788
:.!21,262
222,359
224,904
226,631
228,300
230,587
231,6J4
233,730

770
884
761
876
803
741
872
1,008
841

l6
56
68
7.3
911
108
116
11i4
137
99

497
492
518
Ult
584
531
l78
465
570
lt97

:>:ii,OSB

51,::102
51,592

1>60
7119

232,1l48
233,35"

902
771

125
88

538
1188

!12, .. 118

52,01>9

801

235,4511

899

93

..76

11•,7~::1

115,1>08
115,978
116,1>:.!"
47,017
118,"115
.. 9,112
~0,1;.16

50,911
51,371
5;.:,u5J

43,1191
113,919
411,5511

893
'

7110 IIBEKS
UliUIO

--------1981>-tx;I.
IWV.

8
22 p
5 PI!

!11,5911

PB--9i~!IIiil &S!I!ATB
iBSBBVES AID !OI.ETiiY BASE PIGUIII!S IICOiPOiiTA ADJUST!I!ITS roa DlSCOITIIUl!l&S iSSOCii!&D 111!8 !HI l!P~IBI!i!IOI OP !81
!OI.ETaal COITBOL ACT AID OTHI!i i6GULATOil CHAIG&S TO i&SBifl IBQUZIB!BI!S. TO ADJUST roa DISCOI!IIUI!IBS DUB TO CHAIG&S II
iBStiV~ BBQUIKB!BITS 01 IBSEBVABLE IOIJIEPOSI! Lli8l~!IBS, !liB SO! or SUCH iBQUliED aBSMifBS Ail! SUB!iJC!BD PRO! !8& ACTUAL
s•lll~. ~I!ILiiLI, II ADJUSTIIG roa DI~COITIIDITiiS II THB IOIB!iil BAS&, iBQUiiED CLBA&IIG diLAICBS AID i~USr!BI!S TO
CO!l'JUjSU'B POi PLOAT ALSO UE SUBTUCT.t.D 1808 Till! ACTUAL SI!UES.
21 TOTAL ~SiiVBS lOT ADJUSTEU POB DISCOITIIUlTIM~ COIS~STS OP IBS&if~ BlLAICiS WITB PEDBii.l. IBSIIJB BAI«S (VBICB BXCLUDB
iEUUititD CLiiiliG bi.l.il~~ AID iDJUSTI~I!S TO COIP&ISATB POi l1Di!) PLUS VAULT CiSII DS&D TO Si!l~PI IBSKIVB iBQUliBBBI!S.
SU~II VAULT C£58 COISISTS UP AL.I. VAULT CASH d&•U DUIIIG !Iii LAGGED CO!PUTitlOI PB&IOD Bl IISTI!U!IOIS HifiiG iBQOliiD &ISBifB
biLil~iS iT FiDB&lL iBSI!IYE Bii&S PLUS THE i!OUIT or fAULT CASH &QUAL TO &BQUIBBD iiSBif..:S DUiliG !liB &lll!iliiCB PBilOD AT
liSTI~UTIOIS HAJIIG 10 iBUUliED IESB&YB Bi~il~iS.
3/ AXT&I~ED CIBDl! COISIS!S UP 808101llw AT THB Dl~COUIT ~IIDOI UIDI!i !HB !B&IS AID COIDiriOIS iSTiaLISH&D roa !BB BX!BIDBD
CIBD~ PaOGii! TO H&LP DBPOSl!OII XISTITUTIOI~ DEAL liTH SUSTAIIBD LIQUID~!I PBBSSUIBS.
BBCiUSB !HB&B ~S lOT !BB SAIB I&ID TO
ii!PiY SU~H BOiiOIIIG PBOIPTL! AS TIIBBi IS IIfd TkiDI!IOIAL SBOIT-T&i! ADJUST!BI! CIBDI!, fBi 801&1 BliiB! l!PAC! or &I!IID&D
Ci&lll~ ~S SIBl~i TO TlliT or IOIBOMMOI~D iBS&afiS.
Ill iBS~fiVE BiLiiCBS IITII P~DiiiL IBSB&VB dAIIS PLUS VAULT CAS8 USBU TO SiTISrJ IBSBif& BBQUIII!BI!S LISS iiQUI&BD iBS&IfBS.
51 TBB NUK..:tAI! BASE lOT iDJUSTBD roa DlSCOITIIUI%I&s COISlSfS or TOTAL iiSBiVBS PLUS IBQUIIBD CL&iiii; Bi~ICBS AID ADJUST!BI!S
TO ~OdP&ISi!l roa PLOAT AT PBDBBAL iBSAi¥1 dillS PLUS THE CUiiiiC! COIPOI£1! OP fbi! 10181 STOCK 4&SS TK& iaOUI! OP fAULT CASH
BOLDIIGS or TIIIIrr liSTlTU!lOIS !Bit IS IIC~UDBD IM TIIB CU&IBIC! COIPOI!IT OP THB 80181 S!OCl r~us. POl liSri!U!IDIS 10!.8AJIIG
iiUUIA6D iBSBIIVE BALAICE~, !BE ElCBSS OP CUkl.lf fAULT CASH OJ&& Till! l!OUIT APPLIED TO SATlSPI CUiiiiT IBSBifB iBQUIIBIBirS.
Arrta Till liTIODUC!lOI or Cii, ~UB&BICI i!D VAU~T CASH PIGUIBS AlB !BASUa&D Of&l THB IOIDAI-BIDIIG CO!PU!i!IOI PBilOD.
PilUa TO Cii, ALL CO!ROIEITS or Til& !OIE!Ait BASi 0%11&8 THAI ilCBSS BBSEIVBS AlB SBASOIAL.I.I A~U~!BD AS i IHOLB, IA!a&l !BAI
B! ~OaPUIBI!, AID BlCBSS i!iSEBfiS IS ADDED 01 i lOT SEASOIALL! A~USfED BASIS. AP!BI Cii, ~~ SBASOIALLI ADJUS!BD S&llBS
COI~~TS OP SIASOIALLI ADJUSTED TOTAL aES!ifBS (.IIICH IICLUDBS ilCBSS iESEiVBS 01 i lOT SEASOI~I ADJUSTED BiSIS) PLUS !BB
SBASU~4LL! AUJUSTED CUIIBICJ CO!POiilt or !Hi 8011! STOCK PLUS THE IE!iliiiG l!B!S SBASOIA.I.LI i~Usr&u AS i IBO~B.
HOT&: lllSTOIIlCAL DATA Ail AVilLABLB 1808 TdE BAIIIIG SI!CTlOI, DlflSlOI UP iBSEAICH AID STATISTI~S, BOARD UP GOVB&IOIS or !Hi
PBDI!iAL dtSI!BfB SISTI!!, IASHIIGTOI, D.C. ~u551
p---~II~Liftiiii!

11




H.3 (502)

Table 2

AQ9REGATE RESEf'VE$ OF DEfOSITORY INSTITUTIONS AND THE MONETARY BASE
No.t'adjusted for~<:hanges in reserve ~~~remenEOJ
Averages of dally ligures, norSeisonaiJy adjust
1
Millions of dollars

·

Monetary
baselt

Date

1985--l)(.;t.
IIOY.
DB C..

198t>--Jlll.
F~B.

IIlli.

A.l?li..
IIAI
JUliE
JOLl
lUG.
Si:PT.

OCT. PE

total

non borrowed

required

.. 5. 469
46,382
48,1112

4'1,:.!82
44,o41
46,824

114,71o
45,454

'l8,060
46,6!12
'l7,274
48,882
48,419
49,934:1
51,0;.!9
51,277
53,18!1
54,619

47,:.t89
45,768
46,513
47,989
47,543
49,135
50,:.!88
SO,Il05
5:.!,180
::.3,778

53,911&
54,918
54l,75.:i

25,431

22,724
22,457
22,956

20,0.;UI
19,997
20,5:.t2

2,686
2,4oO
2,434

26,373
24,700
27,114
28,892
28,279
29,499
30,313
30,165
31,922
32,944

24,245
24,96:.!
22,688
22,231
22,474
22,8()5

2,559
3,010
2,528
2,241
2,334
2,366
2,381

23,153

:.t1,687
21,95:.!
211,11>0
19,990
20,140
20,439
20,716
:.!1, 11.t
21,.2o7
21,675

235,506
238,.'243

3.'2,156
33,006

24,015
23,955

l1,7!10
:.!1,91:.!

2,225
2,043

90
-lo

238,284

33,548

.23,201:1

:.! '· 205

2,003

49

:.! 1o, 192
218,902
223,534

~6,385

.. 5,555
'lo,.HI:I
4d,Utl1
47,581
49,007
311,114:1
50,5JIJ
5.l,'lo3
5.:1,1:178

:.!21,588
219,568
221,703
:.!.t4,d79
2:.!6,118
229,676
l32,54o
233,315
235,067
2-"1· 549

::.:•,045
54, 148

5.:i,287
54l,1&9

::..:1.~54

3J,9j2

47,0~5
o~o,949

surplus• .'

total

27,620

23,098

23,451
23,384

2,339

2,117
2,078

TVO IlEUS
BIDliiG

--------1986--0<.:T.
IIOY.

8

a

p

5 PE

P---o'h.t. .. .US:LJiliH
PE--P&.t.~lBlllBY

1/
2/

3/

4/
5/
6/
1/

~STIBlTE.

BESE&Y£ K~QUlBESKIIT;, IIICLDDLII~ ftiUSE 011 IOIIDE.I?OSIT LIABILITIES, VlTH 110 lDJUSTftBITS TO KLlBIIIl~B
1HZ: EI'PECTS OF DISCOII~UIIDITIBS ASSOCIATED llll'd IIIPL6li.EIIUriOII 01' TH.I! IIORBTlBY COIIr&OL lCT O.B OfiBII B.dGU.L.l'lO.BI
~HA-~ES TO &ESE~YE BBQUIIIEIIBIITS.
LvPSISl'S OF TOTAL li.ESEhVKS PLDS MEQUIBED CLKlMIII~ tllLliiCBS liiD lDJUSTIIEIITS TO CONPBIISlT~ FOB l'LOlT lT l'&DBIIlL .BBSEBlB
aAII~S PLUS THE CUKBEIIC! COII~OIEII~ OE TBE MOllEt sroc& LBSS THB ASODBT 01' VAULT CASB BOLD~IIGS Ol ~BaXPT XIS~XTDTXOIIS THAT
lS liiC~UDED lll TB.I! CUBRBICY COII.I?OIHIIT Ol TH& 110111 STOCI PLOS 0 1'08 IIISTlTUTlOIS lOT HlYXIIG .BBQOI.BBD 86SBRlB BlLliiCBS, THB
tACBSS or CUMB&JT YADLX CASH OVBB THE AIIOUIIT AeP~ED TO SlTXSPI CO~BBIIT BBSBBVE BBQDXB&IIBIITS. ll~BH THB IITBODDCTXOI Ol
LfiB, CUBBEN~t AIID VAULT C£SH FIGDa~S l~E MEASDKID OJBB THE 8011011-BIIDXIIG COSPDTATXOI PBIXOD.
~X~~DDES ht~UlBEU CL~lBIIG BlLliiCBS liD lOJUSXII&ITS TO COSPBIISlTE POi ELOl~.
D~1&S ~Pth TO THE llliiTEIIliCE
PERIODS IH WHICH TdB VAULT CASH CAll 8B OSED TO SlTXSPl BBSIBVB BIQDIMBBBI~S. DIDE.B
CUtilESPOBAIIEOUS BESEMVE .BE~DlBEIIEIITS, lllliT~MAICI PBBIODS BIID 30 DAIS lFTta THE LlGGID COIIPUTlTlOI PB.BIODS
Ill ~BXCH TH~ BlLliCBS liE H~D.
E~UlL TO lLL YlOLT ClSH H~LD DUBliiG THE LAGG~D COII.I?UTlTIOII PBBIOD ~~ IIISTITDTIOHS HlfiiG .BBQUX~iD BESIBYB B~ICBS
AT F&UBHlL BESEBYB B£11KS PLUS TtiE lMOUIT OF VlULr CASH BQDAL TO BBQUiiBD .BBS&HYES DD.BXIG THB SAliiTEIIlMCB PB.BLOD lT
IIISTXTUTIONS HlfiiiG 110 BBQUlBED BISIBJE BALAIIC&S.
TOTAL YlULi ClSB lT liiSTlTUflOIS HlYIIIG 10 BE~UIBBD .BISIBYB BlLliiCBS .L.BSS TBB lSOOIT Ol VlO~T ClSB &~UlL TO ~a&lB
kBUD~BD R~SBBYIS DUBIIIG THB BlXIT~IIliCB PEBIOD.
COISlSTS Of ClBBIOYBM OILI lT DBPOSITOIII liST~TUXlOIIS lllLITlli~G BBSBBYBS 01 TB& BASIS 01' TIO-IBBI SliiT&Il.CB
~EMIOOS.
bEl'LBCTS EXCESS (•) OB DBlXCXT (-) BBSIBYIS B.I.IGIBLB TO BB CAB.BIBD l'O.BiliiD 11!0 THB TIG-IBBI .B&SIIll
II£11TBIIli~E PEIILOD BIDIIG OJ THB DATI SHOll.
li.Bi~ECiS




l~IUl~

H.3 (502)
Table 3

AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adjusted for changes in reserve requlrements 1
Averages of dally figures, not seasonally adjusted
Millions of dollars
Reserves of depository Institutions
nonborrowed

Date
total

1985--0CT.
lOY.
DBC.

1986--JAlil.
l.&B.

IIAB.
APR.
liAI
JOlliE
JULY
AUG.
::tBPT.
OCT. PB

43,0~0

Monetary base
required

44,207
45,082
46,839

43,341
45,520

43,454
44,154
45,781

47,113
45,684
46,338
47,93t.
47,712
49,198
50,319
50,622
51,546
52,338

46,34.2
44,800
45,578
47,044
46,836
48,395
49,578
49,749
50,538
51,4Y6

_46,002
44,587,
45,442
47,135
46,874
48,267
49,409
49,882
50,821
51,596

230,019
2J0,755
231,51;t
2.lJ,.J31

51,709
5~,605

50,807
51,835

51,0119
51,856

~31,J70
~33,997

54!,480

51,5~~

51,679

234,0:J1

~13,357
~16,038
2~0,Jt»~
~1~,741

21t.,784
~18,985
2~J., U4

223,608
221,031

TWO WBBKS
BNOiliG

-----------a
1986--0CT.
2;t

!IOV.

p

5 PE

P--- PRi:l.II!II HA RI
PB--PB~LI!IIlBY

1/

BS~IIIATB.

PIGUKBS REFLECT ADJUSTIIEITS lOB
liD OTHER REGULATORY CHAHGBS TO




ASSOClAT.D
REQUliB!BITS.

DlSCOHTINOITI~S
~HSEBYE

VlT~

TH&

~IIPLBIIEITAT~OI

0' THE IIOIBrARI COMTBOL ACT