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FEDERAL RESERVE statistical release ' •f* 4 l For release at 4:30 PM EST November 15, 1984 H.3(502) NOTICE Because of the Thanksgiving holiday on Thursday, November 22, the H.3 statistical release "Aggregate Reserves of Depository Institutions and the Monetary Base” will not be published that day. instead on Friday, November 23 at 4:30 p.m. EST. It will be published FEDERAL RESERVE statistical release H.3 (SOS) For W i m i at 4:30 Eastern Tims Tabto 1 NOVEMBER AQQREQATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE 15, 1984 Adjusted for chsnoss in m irvi requiremsnts' Avstsqm of daily figures. sotsonslly adjusted untoss nolod othsrwiss Millions of dollars B m w M of dspositofy institutions nonbonowsd required 1983— OCT. NOV. DEC. 3 6 ,2 3 2 36 ,1 79 36 ,215 35,388 3 5 ,2 7 4 35 ,4 4 1 3 5 ,6 4 4 35,280 3 5 ,4 4 3 35 ,727 35,650 35,654 505 529 561 183,439 184,555 185,570 Borrowings of dsoosMory Institutions from tho Fsdsral Rsssrvi>. NSA total SOMOflSl sxtsndsd credit9 844 142 25b 906 121 6 774 96 2 1984— JAN. FEB. MAR. APR. HAY JUNE JULY AUG. SEPT. OCT. PE 36 ,4 3 2 37,090 37,163 3 7 ,1 7 6 37,516 38,352 38,303 38 ,4 5 1 38,164 37,750 35,717 36,523 3 6 ,2 1 2 35 ,9 42 34,527 35,052 3 2 ,3 7 9 3 0 ,4 3 4 30 ,9 2 2 31,733 35,721 36 ,5 2 8 36 ,2 3 9 35 ,9 8 6 34 ,5 6 4 3 6 ,9 2 5 3 7 ,3 8 7 37 ,4 7 7 37 ,3 81 3 6 ,7 9 0 3 5 ,8 1 9 36,1 48 36 ,4 55 36 ,6 86 36,939 37,586 37,697 37 ,7 68 37,54a 37 ,1 38 613 942 709 490 577 767 607 683 020 612 187,555 189,379 189,504 19 0, 4 3 8 192,065 193,946 19 4 , 8 4 1 196,073 196,025 196,465 715 567 952 1, 2 3 4 2,988 3,300 5,924 8,017 7,242 6,017 308 346 319 299 4 5 27 44 37 1,873 5,008 7,043 0,459 5,057 37,9 10 37 ,7 3 3 31,745 31,499 36 ,8 9 2 36 ,9 30 37 ,0 06 37 ,2 90 904 443 196,530 19 6 , 4 1 3 6 , 165 6,234 315 305 5, 147 5,431 37,554 3 2 ,1 8 2 3 6 ,3 6 5 3 7 ,0 2 4 531 196,476 5,373 265 4 , 184 Dats total* I MOMS NSA4 Monstary bass1 86 103 133 139 196 2b*t THO WEEKS ENDING 1984-OCT. 10 24 P NOV. P1/ 7 PE PBELIMINABY p E— P B E L I M I N A B Y E S T I M A T E RESERVES AND MONETARY BASE FIGURES INCORPORATE ADJUSTHENTS POB D I S C O N T I N U I T I E S ASSOCIATED WITH THE IMPLEMENTATION OF THE ANi>,0 T H E B 8 E G O L A T O B I C H A N G E S T O R E S E R V E R E Q U I R E M E N T S . T O A W U S T F O R D I S C O N T I N U I T I E S D U E T O C H A N G E S IN cwfrol ? 0N R E S B 8 V A B L E N O N D E P O S I T L I A B I L I T I E S , TH E SO M O F S U C H R E Q U I R E D R E S E R V E S A B E S U B T R A C T E D F R O M T HE A C T U A L S E B I E S . S I M I L A R L Y , IN A D J U S T I N G F O R D I S C O N T I N O I T I E S IN T H E M O N E T A R Y B A S E , B E ^ O I B E D C L E A R I N G B A L A N C E S AN D A D J U S T H E N T S T O C O M P E N S A T E FOR FLOAT ALSO ARE S O B T B A C T E D FROM THE ACT O A L SEBIES. AN D A D J U S T M E N T S T O 2/ ? ? TAi: 8ESE8VES N° T ADJUSTED FOB DI SC ON TI NU ITI ES CONSISTS OF RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WalCH EXCLUDE REQUIRED CL EASING BALANCES AND ADJUSTMENTS TO COMPENSATE FOB FLOAT) PLUS VAULT CASH USED TO S A TI SF Y RE SE RV E BEuUIBJiMENTS SUCH VAULT CASH CONSISTS OF ALL VAULT CASH HELD DURING THE LAGGED COMPUTATION PERIOD BIT I N S T I T U T I O N S HAVING REQU1REC BE S E h V L 3/ E” 5IN!S«T IT ! SU-T IO r“ D E B i L BNO E S EBEQUIBED H T E Bl*«S P l D S I BALANCES. H E “ O'"11 0 F » * U l 1 C 4 S a ««*>■ *° M t f U M O NS F E HAVING BESEBVE E? DEI> CBEOIT I S B^EBVES D UuPr-i.u ING u Ti nH sE m M AjI.Nj u T E£ NhAaNiiiC.Ee trfiiUUD fEBIGD A AtI C8EDIT CONSISTS OF BOBBOWING AT THE DISCOUNT WINDOW ON DEB THE IEBMS AND CONDITIONS ESTABLISHED FOB THE LX1 ENDED T° HELP DEP0SITOfi* IN S TITU TIO N S DEAL WITH SUSTAINED L IU U ID IT Y PBESSUBES. BECAUSE THEBE I S NOT THE SAME N£Ei> 10 SIM ILAH ^TO THAT^OF^NONBOBfiOWED^BESEHVES*^^*0 * * ^ S " 0* 1’ ™ " ‘ W 1 S ,U “ C8EW T' ■ «««* CF EXIENCEC TO COMPENSATE FOB FLOAT AT FEDEBAL BESEBVE BANKS PLUS THE CUBBENCI COHPONENT OF THE HONE! STOCK LESS THE AMOUNT OF VAULT CASH = 2 ^ ,' <5S ° F T H 8 I M I » S T ” 0 I I ° " S THAT I S INCLUDED IN THE CUBBENCY COHPONENT OF THE HONEY STOCK PLUS* FOB IN S T IT U T IO N S NOT t t l^ N G BEOUIHED BESEBVE BALANCES, THE EXCESS OF CUBBENT VAULT CASH OVEB THE AMOUNT APPLIE D TO S A T IS F Y CUBBEN1 BESBBVE DDTno 3 n E^ i S TB0? <,CT10'1 01 CRB# CUBBENCY ***•> VAULT CASH FIGUBES ABE BEASUBED OVEB THE HOMOAT—ENDING COBPUIA1ION PEfciCB. PRIOB TO CRB, ALL COMPONENTS OF THE MONETARY BASE OTHER THAN EXCESS RESERVES ARE SEASONALLY ADJUSTED AS A WHOLE RAlHEJi T H A N r L c T « T c ili i l T c e i,ID EXCESS RESERVES I S ADDED ON A NOT SEASONALLY ADJUSTED BA S IS . AFTER CRR, THE SEASONALLY ADJUSTED SERIES CONSISTS OF SEASONALLY ADJUSTED TOTAL BESEHVES (WHICH INCLUDES EXCESS BESEiVES ON A NOT SEASONALLY ADJUSTED B A S IS ) PLUS T H f » „ « SBS ? « n p ^ . , “ n ° ! TED C0B8E,,Ct COMPONENT OF THE MONEY STOCK PLUS THE EEMAINING ITEMS SEASONALLY ADJUST EC AS A S S o l f ! K i l l ™ 2 « 5 1 ANKI,IG SE C I1 0" * D I » I S I ° " ° E BESEABCU AND S T A T IS T IC S . B0ABD CF G0VEBN0BS OF THE H.3 (502) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Not'adjusted for changes in reserve requirements^ Averages ^T tJaTTy figures, not seasonally adjusted Millions of dollars Reserves of depository institutions Vault cash 4 Monetary base2! Date total nonborrowed Reserve balances with F.R. BanksJ^ required total used to satisfy required reserves* surplus' i Net carryover of excess or deficit in reserve balances 7 r r ~ iiiiiiijiililliB li 1983— OCT. NOV. DEC. 3 8 ,1 3 7 3 8 ,1 4 4 3 8 ,8 9 4 3 7 ,2 9 4 3 7 ,2 3 9 3 8 ,1 2 0 3 7 ,6 3 3 3 7 ,6 1 5 3 8 ,3 3 3 1 8 6 ,5 9 8 1 8 8 ,9 7 1 1 9 2 ,3 5 9 2 1 ,0 5 9 2 0 ,9 4 3 2 0 ,9 8 6 2 0 ,4 7 1 2 0 ,5 5 8 2 0 ,7 5 5 1 7 ,0 7 8 1 7 ,2 0 1 1 7 ,9 0 8 3 ,3 9 3 3 ,3 5 6 2 ,8 4 7 1984— JAN. FEB. MAB. APR. HAY JUNE JU LI AUG. SE PT. OCT. PE 4 0 ,1 2 0 3 6 ,3 6 5 3 6 ,2 7 8 3 7 ,1 5 4 3 6 .5 1 9 3 7 ,5 1 8 3 7 ,4 6 4 3 7 ,2 5 8 3 8 ,0 3 5 3 8 ,5 0 4 3 9 ,4 0 5 3 5 ,7 9 8 3 5 ,3 2 6 3 5 ,9 2 0 3 3 ,5 3 1 3 4 ,2 1 8 3 1 ,5 4 0 2 9 ,2 4 1 3 0 ,7 9 3 3 2 ,4 8 7 3 9 ,5 0 7 3 5 ,4 2 3 3 5 ,5 6 9 3 6 ,6 6 4 3 5 ,9 4 2 3 6 ,7 5 2 3 6 ,8 5 8 3 6 ,5 7 5 3 7 ,4 1 5 3 7 ,8 9 3 1 9 2 ,3 0 1 1 8 6 ,6 7 2 1 8 7 ,8 1 3 1 9 0 ,3 4 4 1 9 1 ,0 8 0 1 9 3 ,9 6 2 1 9 5 ,5 2 5 1 9 5 ,6 9 7 1 9 6 ,2 3 2 1 9 6 ,7 6 9 2 1 ,3 2 5 1 8 ,4 1 4 1 9 ,4 8 4 2 0 ,3 5 1 1 9 ,5 6 0 2 0 ,2 1 0 1 9 ,8 8 5 1 9 ,2 6 3 2 0 ,1 3 5 2 0 ,0 9 0 2 2 ,5 7 8 2 2 .2 6 9 2 0 ,3 9 6 2 0 ,1 5 2 2 0 ,4 4 6 2 0 ,7 7 0 2 1 ,1 3 4 2 1 ,6 8 8 2 1 ,2 3 2 2 1 ,8 7 5 1 8 ,7 9 5 1 7 ,9 5 1 1 6 ,7 9 4 1 6 ,8 0 2 1 6 ,9 6 0 1 7 ,3 0 8 1 7 ,5 7 9 1 7 ,9 9 5 1 7 ,9 0 0 1 8 ,4 1 4 3 ,7 8 2 4 ,3 1 8 3 ,6 0 2 3 ,3 4 9 3 ,4 8 6 3 ,4 6 1 3 ,5 5 5 3 ,6 9 4 3 ,3 3 3 3 ,4 6 1 NO?. 10 24 P 7 PE P----- PR ELIM IN A RY PE— P R E L IH IN A R Y 1/ BErLECTS iiiiiiiilliiiiiiiiiiiiiiiiijjjiiiiiiiijiji S llliiiS IS iil llllllliffllll! TWO WEEKS ENDING 1984— OCT. liiiiiyiiiiiHil-illlllil 3 8 ,6 2 7 3 8 ,4 3 2 3 2 ,4 6 2 3 2 ,1 9 9 3 7 ,7 2 3 3 7 ,9 8 9 1 9 6 ,7 1 2 1 9 6 ,7 8 2 2 0 ,4 0 6 1 9 ,6 4 9 2 1 ,5 7 1 2 2 ,3 2 9 1 8 ,2 2 1 1 8 ,7 8 4 3 ,3 5 0 3 ,5 4 5 192 268 3 8 ,4 7 3 3 3 ,1 0 1 3 7 ,9 4 3 1 9 6 ,8 2 4 2 0 ,5 2 3 2 1 ,4 0 4 1 7 ,9 5 1 3 ,4 5 4 74 E S TIH ATE . ACTOAl BESEBTE FEQOIBEHENTS, HCLUD1HG THOSE OH NONDEPOSIT LIABILITIES. BITH 10 ADJUSTMENTS t o PI i n n . . ™ 2/ 3/ 4/ ED T H E C a B B E , C r C O M P O N E N T O F T H E H O N E T S T O C K PLUS, FOB I N S T I T U T I O N S MOT H A T I N G B E Q U I B E D B E S E R T E P»? » M r t h p r J . ® o „ 2 r „ ^ 5 R E !T T A °LT C A S “ 0,,EB T H E * HOO,,T A P P “ E0 T O S A T I s r r C U B B E N T B E S E B T E B E Q U I B E H E N T S . AFTEB IHE I N T B O D Q C T I O N OF f! f T 4 0 1 T C A S H r i G O B E S A B E H E A S O B E D OTEfi T H E H O N D A Y —E N D I N G C O H P O I A T I O N P E B I O D . EXCLUDE.* REQUIRED C LEARING BALANCES T° s " 5 5 5 5/ 6/ 7/ THE l,A IN TE ,,A ,,C E « r s L “ AND ADJUSTMENTS TO COHPENSATE FOR FLC AX. PERIODS IN ; r f M EH S S f Mi , T s# NHICH THE VAULT CASH CAN BE USED 10 S A T IS F Y , u i h t e n a n c e pe*io d s en° 30 RESERVE REQUIREMENTS imnFR coe^ J a t i o 2 0p e b ;oeSs • omde* f 2 0 i ^ I 2 . ALL VA0LT CASH HELD DURING THE LAGGED COMPUTATION PERIOD BY I N S I I T U I I O N S HAVING REQUIRED RES ER?F B l i m r F c iLTr iETD^ o l N f s „AB?iNEGBj ; KL Q pSi°BsE;HB EE ^ ^ ? TB ^ A ^ ^ cash mb“ 10 “ * » “ »“ ” s ™ RESEBTE BALANCES ^ 0F CAHK,0VEB ° " t r * T D E P O SITO R I IN S T IT U T IO N S M A IN T A IN IN G « ! J ? 5 2 ; - « BJl E C T S “ CESS ( > ) 08 DE F I C 1 T ( - ) HESEBVES e l i g i b l e t o MAINTENANCE PERIOD ENDING ON THE DATE SHOWN. ^ Js . s s f s i s s s ^ s ; AMOl",I °F VA°LI CAS“ EUUAL 10 1UEiB BESERTES ON IH E B ASIS OF 1 N 0 -«E E K n a b e c a b s i e d f c « 5 » hd I » M th ! ™ “ 5b m RE^EhVE i n t f m a p H.3 (502) Table 3 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjusted for changes in reserve requirements1 Averages of daily figures, not seasonally adjusted Millions of dollars Oat* total 1 9 8 3 — OCT. Monetary base required 36,219 36,275 36,936 35,375 35*370 36*162 35,714 35*746 36,375 183*265 185* 64 5 188*843 38,259 36 * 6 7 4 36,679 37,544 36,835 37*863 37,917 37,761 37,902 37*945 37*544 36*106 35*727 36,310 33,847 34*562 31*992 29*744 30*660 31*928 37*646 35*731 35*970 37*054 36*258 37*096 37*310 37*078 37*281 37*333 188*719 186*939 188*214 190*734 191*397 194*307 195*977 196*200 196*099 196*209 P 38,061 37,863 31,896 31,629 37*158 37*420 196*146 196*212 PE 37,941 32,568 37*410 196*292 NOV. DEC. 19 8H— J A N . F EB . MAR. APR. HAY JUNE J UL Y AUG. SEPT. O CT. Reserves of depository institutions nonborrowed PE TWO MEEKS ENDING 1 9 8 4 — OCT. NOV. P— t u t u i 7 nv P E - -P R E LIM IN A R Y 1/ 10 24 ESTIMATE. F IG URES REFLE CT ADJUSTMENTS FOB D I S C O N T I N U I T I E S AS SOCIA TED AND OTHER R E G ULAT OR ! CHANGES TO RESERVE REQUIREMENTS. H ITH THE I M P L E M E N T A I IO N OF THE MONETARY CONTROL A C T r L i ( , L . i 1 U uii o r i H t HUNfcTARX CONTROL ACT
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