Full text of H.3 Aggregate Reserves of Depository Institutions and the Monetary Base : November 15, 1982

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FEDERAL RESERVE statistical release
H.3 (502)

For Immediate Release

Table 1

1f l( n

AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE
Adjusted for changes in reserve requirements ^
Averages of daily figures
Reserves of depository institutions
required
non borrowed I
total2
Period
millions of dollars
seasonally/ adjusted

Monetary base3
$

billions of dollars

No v e m b e r

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

15,

1902

Monetary base^
billions of dollars

1981 — SE PT.
OCT.
NOV.
DEC.

3 7 ,7 21
37,6 03
37 ,6 1 5
37 ,9 8 8

3 6 ,2 65
36,4 22
36 ,9 5 2
37*351

37 ,3 07
3 7 ,3 25
37 ,2 70
37 ,6 68

160.6
160.8
16 1. 2
162.7

37*519
37 ,6 96
37 ,7 82
38*662

36,0 63
36*515
37 ,1 1 9
3 8 ,0 2 5

37 ,1 0 5
37 ,4 18
37 ,4 38
3 8 ,3 42

160.2
160.8
162.6
165.8

1982— JA N.
FEB.
MAR.
APR.
HAY
JUNE
JULY
AUG.
S EP T.
OCT.

P

3 8 ,7 1 3
38 ,2 6 2
38*356
38 ,4 3 3
38 ,5 0 4
38 ,5 7 5
3 8 ,5 2 3
38*804
39 ,5 66
39*884

3 7,1 9 5
3 6 ,4 7 2
3 6 ,8 01
36 ,8 65
37 ,3 87
3 7 ,3 70
37 ,8 32
38 ,2 89
38 ,6 3 2
3 9 ,4 0 7

3 8 ,2 9 5
3 7 ,9 58
3 7 ,9 9 4
38,1 60
38,1 4 5
3 8 ,2 66
3 8 ,2 10
3 8 ,4 92
39 ,1 82
39*473

164.3
164.7
165.2
16 6.5
167.7
168.8
169.2
170. 1
171.9
172.8

40 ,0 36
38 ,0 52
37 ,7 99
38*330
38 ,1 89
3 8 ,0 69
38 ,4 34
38*512
39*353
40*006

38 ,5 1 9
3 6 ,2 62
3 6 ,2 44
36 ,7 6 2
3 7 ,0 71
36*864
37*743
37*996
38*420
39*528

39*618
3 7 ,7 48
3 7 ,4 37
38*057
37*830
37 ,761
3 8 ,1 20
3 8 , 1S9
38,9 6 9
39 ,5 94

165.3
162.9
163.3
165.6
167.1
168.2
170.0
170.4
171.4
172.9

19 82 -00,

6
13
20
27 P

3 9 ,8 46
3 9 ,1 9 6
4 0 ,1 59
4 0 ,1 3 0

3 9 ,2 4 0
3 8,831
3 9 ,6 43
39*678

39 ,3 3 5
38 ,7 34
39 ,8 98
39 ,8 00

172.3
172.2
173.1
173.2

39*655
38*710
40*656
40 ,530

39*049
38*345
40,1 40
4 0 ,0 78

3 9 ,1 44
38 ,2 4 8
40,3 95
4 0 ,2 00

172.6
172.6
173.5
172.3

NOV.

3 P
10 P

40 ,2 37

39 ,7 78

39*590

38*870

39*656
39*240

173.5
172*7

4 0 ,7 46
3 9 ,7 68

40*287
39*048

40,1 65
39*418

173.5
174.7

.

WEEK ENDIN G:

P 1/

2/
3/

PR ELI MI NA RY
RESERVE AGGREGATES IN CL 0D E .REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITORY
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 WISH THE IMPLEMENTATION OF THE MONETARY CONTROL A C T , THE INCLUSION
OF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES I N REGULATION D HAVE BEEN REMOVED* BEGINNING WITH THE
WEEK ENDED DECEMBER 2 3 , 19 8 1 , RESERVES AGGREGATES HAVE BEEN REDUCED BY S H I F T S OF RESERVABLE L I A B I L I T I E S TO
I N T E R N A T IO N A L BANKING F A C I L I T I E S ( I B F S ) . ON THE BAS IS OF REPORTS OF L I A B I L I T I E S TRANSFERRED TO I B F S BY U . S .
COMMERCIAL BANKS AND U . S . AGENCIES AND BRANCHES OF FOREIGN BANKS, I T I S ESTIMATED THAT REQUIRED RESERVES HERE
LOWERED ON AVERAGE EY $10 TO $20 M I L L I O N I N DECEMBER 1981 ANC $40 TO $70 M I L L I O N I N JANUARY 1 9 8 2 ,
RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT
I N S T I T U T I O N S WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO EEQUIRED RESERVES AT OTHER I N S T I T U T I O N S .
INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS I N THE CURRENT WEEK PLUS
VAULT GASH HELD TWO WEEKS EARL IER USED TO S A T I S F Y RESERVE REQUIREMENTS AT ALL DEPOSITORY I N S T I T U T I O N S PLUS
CURRENCY OUTSIDE THE U . S . TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY I N S T I T U T I O N S , AND
SURPLUS VAULT CASH AT DEPOSITORY I N S T I T U T I O N S .

NOTE: H I S T O R I C A L D A T A ARE A V A I L A B L E F R O M THE B A N KING SECTION,
BOARD OF G O V E R N O R S O F THE F E D E R A L RES E R V E SYSTEM* WASHINGTON,




DIVISION OF
D.C 20551.

RESEARCH AND STATISTICS*

Table 2

AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS
Not adjusted for changes in reserve requirements
Reserves of depository institutions1
total2

Period

nonborrowed

required

Monetary
base3

millions of dollars

1981— SE PT.
OC T.
NOV.
DEC.

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

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

4 0 ,1 7 7
4 0 ,4 3 3
4 0 ,6 0 4
4 1 ,6 0 4

1 6 3 .9
1 6 4 .3
1 6 6 .3
1 6 9 ,7

1982— J A N .
FEB.
MAR.
A PR .
HAY
JUNE
JU LI
AUG.
S E PT.
O CT.

P

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

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

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

1 6 9 .1
1 6 6 .8
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 9 8 2 - O C T.

6
13
20
27 P

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

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

3 9 ,7 3 7
3 8 ,8 8 7
4 0 ,9 7 7
4 0 ,7 7 8

1 7 3 .5
1 7 3 .6
1 7 4 .4
1 7 3 .3

NOV.

3 P
10 P

41 *2 8 4
4 0 ,3 1 5

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

4 0 *7 0 3
3 9 ,9 6 5

1 7 4 .4
1 7 5 .6

BEEK ENDING:

1/

2/
3/

RESERVES OF DEPOSITORY IN S T IT U T IO N S S E M E S .REFLECT ACTUAL RESERVE REQUIREMENT PERCENTAGES H ITH NO ADJUST­
MENTS TO E L IM IN A T E THE EFFECT OF CHANGES I N REGULATION D, IN C LU D IN G CHANGES ASSOCIATED WITH THE IMPLEMEN­
TATIO N OF THE MONETARY CONTROL ACT.
INCLUDES .REQUIRED JBESEBVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS
AND, BEGINNING NOVEMBER 1 3 , 1 9 8 0 , OTHER DEPOSITORY IN S T IT U T IO N S *
UNDER THE T R A N S IT IO N A L P H A S E -IN PROGRAM
OF THE MONETARY CONTROL ACT OF 1980 AND PR O V IS IO N S OF THE DEPOSITORY IN S T IT U T IO N S ACT OF 1 9 8 2 , THE NET
CHANGES I N REQUIRED RESERVES OF DEPOSITORY IN S T IT U T IO N S HAVE BEEN AS FOLLOWS:
EFFEC TIV E NOVEMBER 1 3 , 1 9 8 0 ,
A REDUCTION OF $ 2 .9 B IL L IO N ; FEBRUARY 1 2 , 1 9 8 1 , AN INCREASE OF $2 45 M IL L IO N ; AUGUST 1 3 , 1 9 8 1 , AN INCREASE
OF $ 2 45 M IL L IO N ; MARCH 1 2 , 1 9 8 1 , AN INCREASE OF $75 M IL L IO N ; MAY 1 4 , 1 9 8 1 * AN IN CR EASE OF $ 2 45 M IL L IO N ;
AN IN CR EA SE OF $ 2 30 M IL L IO N ; SEPTEMBER 3 , 1 9 8 1 , A REDUCTION OF $ 1 .1 B I L L IO N ; NOVEMBER 1 2 , 1 9 8 1 , AN INCREASE
OF $2 10 M IL L IO N ; JANUARY 1 4 , 1 9 8 2 , A REDUCTION OF $60 M IL L IO N ; FEBRUARY 1 1 , 1982
AN INCREASE
OF $170
M IL L IO N ; MARCH 4# 1 9 8 2 , AN ESTIMATED REDUCTION OF $ 2 .0 B IL L IO N ; MAY 1 3 , 1 9 8 2 , AN ESTIMATED INCREASE OF
$150 M IL L IO N ; AUGUST 1 2 , 1 9 8 2 ,A N ESTIMATED IN CR EASE OF $140 M IL L IO N ; SEPTEMBER 2 , 1 9 8 2 , AN ESTIMATED REDUCTION
OF $ 1 . 2 B IL L IO N AND OCTOBER 2 b , 1 9 8 2 , AND ESTIMATED REDUCTION OF $100 M IL L IO N .
BEGINNING B IT H THE WEEK ENDED
DECEMBER 2 3 , 1 9 8 1 , RESERVE AGGREGATES HAVE BEEN REDUCED BY S H IF T S OF HESERVABLB L I A B I L I T I E S TO IN TE R N A T IO N A L
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 . COMMERCIAL BANKS
U .S . AGENCIES AND BRANCHES OF FOREIGN BANKS, I T I S ESTIMATED 3THAT REQUIBED RESERVES HERE LOBEBEn OH AVERAGED
BY $60 TO 90 M IL L IO N IN DECEMBEfi 1981 AND $ 1 8 0 TO $230 IN JANUARY 1 9 8 2 , MOSTLY REFLECTING A REDUCTION IN
RESERVABLE EUROCURRENCY TR AN SAC TIO N S.
RESERVE BALANCES B ITH FEDERAL RESERVE BANKS (WHICH EXCLUDED REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT
IN S T IT U T IO N S B ITH REQUIBED 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 IN THE CURRENT WEEK PLUS
VAULT CASH HELD TWO BEEKS E A R LIE R USED TO S A T IS F Y RESERVE REQUIREMENTS AT ALL DEPOSITORY IN S T IT U T IO N S PLOS
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 .