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FEDERAL RESERVE statistical release
For release at
4:30 PM EDT
November 19, 1987
H.3(502)
NO'I'ICJ:
Owing to the Thanksgiving Day holiday, the H.3(502) statistical
release "Aggregate Reserves of Depository Institutions and the Monetary
Base" will be published on Friday, November 27.
FEDERAL RESERVE statistical release
H.3 (502)
Table 1
IOfBBBBB
19, 1987
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adjustad for changes in ,...,. . of daily figures,
Millions of doilara
raqulrementa'
..Monat1y adjuatad unless notad otherwiM
total'
Date
......._ of depoeltory IMtltutloM
requlrad
-lbomlwad plua
notltlonoooad
1986--0CT.
NOV.
llEC.
53,225
511,489
56,166
52,384
53,737
5S,3110
CNdft"
52,881
511,155
55,6113
1987--JAif.
t'EB.
IIAL
APR.
56,884
56,873
56,852
57,9511
58,352
57,706
!>7,602
57,1176
57,825
58,486
56,3011
56,317
56,325
56,961
57,317
56,930
56,9l9
57,..!29
56,885
57,51U
56,529
S.,600
s•,589
57,231
57,6011
57,.Z03
57,12'6
57,360
!>7,294
57,992
7
21
57,869
58,0110
56,b74
57,033
4 p
18 PB
59,5113
57,bll5
58,866
57,085
axtendad
lilY
JUNE
JULY
AUG.
SEPT.
OCT. p
-
MonNiybaW
NSA'
__.
llono•IIIOI of depoeltory IMittutloM
" - lila Fedlql , . . _ , . , NSA
axtendad CNdlt"
total
7116
978
1,369
2lll,112o
236,875
239,513
8111
152
827
99
70
38
303
55,816
55,662
5.5,936
57. 127
57,273
56,516
56,841
56,844
57,032
57,372
1,068
1,211
916
827
1,079
1,190
761
1,032
793
1, 114
242,1131
243,970
21111,563
2116,5116
248,372
2118,1181
2119,1157
250,798
l51,8S2
254,343
SilO
556
5.t7
9U
1.035
776
672
6'67
940
943
34
71
91
120
196
.ZS9
283
279
2.) 1
189
225
283
2611
270
l88
273
1911
132
409
11119
57,142
57,515
.57,036
57,072
833
967
252,691
253,1675
1, 19.5
1,0U7
230
469
482
59,256
57,1119
58,026
57. 160
1,517
485
256,714
256,313
677
.5«>1
169
52,1179
53,511
511,798
497
418
TIIO III>EKS
BIDING
--------1987-0CT.
NOr.
U3
us
390
3311
P---PBELIBIHABI
P£--PBELIBIIllt BSTIBlTE
1/ IESEBVI>S AID BOIETAil BASE PIGUBES llfC08PORATE AUJUSTftEITS POi DISCOITIIUITIBS ASSOCllTBV IIITK TMB 18PL&BEITATIOI OF TKB
ftOIBTABY COITIIOL lCT AID OTKBB 8BGULlTOBI CHliGES TO 8BSBBVB RBQUIBBBBITS. TO ADJUST POB DISCOITliDlTIBS DUB TO CKliGBS II
BBSBBVE BEQOIBBBBITS 01 BESEBflBLE IGIDEPOSIT LllBlLlTIES, THE SOB OP SUCH BEUDIBED RBSBif~S ARB SOBTBACTBD PROS THE ACTUAL
SERIES. SIIIILliiLI, II ADJUSTIIG roa DISCOITIIUITIES II THB BOIETlBI BlS£, BBQUIBBD CLI18IIG BlLlBCBS lBD lDJUSTBIITS 10
COIIiBISATE POll PLOlT lLSO ABE SUBTilCTBD PROS THE ACTUlL SIRlES.
2/ TOTAL H~SIBY&!i HOT ADJUSTED POR DlSCOITIMUlfl£S COISISTS or MESBBYI BlLliCIS llrB FEDBBlL MBS&BfB Bli&S (HHICB EXCLUDE
i~UUIHED CLBlRIIG BlLAICBS Alll lDJUSTB~ITS TO COBPBISlTI FOB FLOATt PLUS VAULT ClSB USBD TO SATISPI B&SBIJB BBQUIBBBEITS.
SUCH VlULT CASH CONSISTS OF lLL VlULT ClSH H&LD 008IIG THI LlGGED COBPUTlTIOI PBRIOD Bt liSTITUT~OBS HAJIIG IBQUIBBD RBSIBVE
BlLlHCts AT FEDEBlL II~SERVE BlNKS PLUS THE lBOOIT or VlOLT ClSH EQOlL TO 8BQUIRBD K~SEMVI!S DUMII~ !HB BlliTEBAICE PEIIOD AT
INSTU'IITlONS HlUJIG NO REQUIBED RESERVE BlLAIICBS.
l/ EXTENDED CREDIT COMSISTS OF BOBBOIIING lT THE DISCOUMT IINDOII UND&B THE TEBBS lBD COifDITIOIS KSTABLISH&D YOB THE EXTENDED
CH~DIT PROGBAII TO HELP DE~OSITOBY liSTITUTIONS DElL 11TH SUStAIIEO LIUUIDITJ PBESSUBES.
88ClUSE THEBB IS lOT THE SlBE lEBO TO
BAPAJ SUCH BOHBOIIIG PROBPTLI lS THEBE IS lllTH TRlDITlOIAL SHOBT-TEift lDJUSTIIBIT CREDIT, THE 801&1 BAMKET IBPlCT OP &XTEIDED
CREDLT IS Sl8ILlB TO THlT OF IOIBORBOVED RESE•VES.
U.f
Bt:SEBVE BlLUl:ES ~l'IH Ft:DEkAL RESERVE lllNII:S PLUS fAULT ClSH USED TO SlTlSPJ 8ESEBVB REUUI.Ili!BBITS L&sS IIIUUIIED BISUJBS.
${ THt: BOMI>Tllf blSE NOT ADJUSTED kOR DISCOifTlNUlTIES COIISISTS or TOTAL RESERVES PLUS BEQUIMID CLElMIBG ~ALliCES lND lDJUS!BIITS
TO COBPENSlTE POB rLOlT lT rEDEilL RESERVE dlMKS PLUS THE CURkEICJ COBPOIEIT OF THE BONEI STOCK LESS THB lBOUIT OP flULT ClSH
HOLDINGS or .tHRIFT INSTITUTIONS THAT IS IICLUoEil II THB COBRBNCJ C08POIEIT OP THE BONEY STOCK PLUS, POB IISTIIUTIOIS lfOT BlfliG
BEwUIBEO RESBHVE BlLAICES, THE EXCESS OF COBR~IT VlULT CASH Of~ THE lftOUIT lPPLIED TO SlTISrJ CUBBBIT BESIBfB 8EQUI8EBBITS.
lrTEB THE IITkODUCTION OP CRR, CURRENCY lNO VAULT CASU FIGURES ABE NElSUBED OfBB THE BOIDlY-EIDIIG COBPOTATIOI ~&IIOD.
PRIOR 10 CBB~ lLL COBPOJIITS or THE ftONETABY dAS~ UTHBR THAN ElCESS RISEBYES A8B SllSOilLLI lDJUSTBD AS l BHOLE, BlTHER THll
ay COBPOHENT, AND EXCESS B~SERYES lS ADDED ON l JOT SEASOIALL¥ ADJUSTI>D BlSIS. lrTER Cllk, TUK S8lSOilLLJ lUJOSTED SERIES
COISlSTS OP SEASONALLY ADJUSTED TOTlL kESEkV&S (WHICH INCLUDES ElCESS MESBBVES 01 A HOT SBlSOilLLf ADJUSTED BlSIS) PLUS THE
SElSOilLLY lDJUSTED CUBHEJCY COftPONENT OF TdE !OJ~J STOCK PLUS THE 8EIIliiiiG ITBftS SElSOJALLt ADJUSTED lS l JHOLE.
BOTE: UISTOkiClL DlTl ARE AVAILABLE tROll THE BAH~ll~ SE~TION, DIVISION or iGSEABtH liD STlTI.STICS, ~Ol8D or GOfBBIOKS OY THE
rEDERlL RESERVE SYSTEII, JASHIN~TON, D.C • ..!0551
H.3 (502)
Table 2
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Not adjusted for changes In reserve requlrements,1
Averages of daiiy figures, not seasonally adjusted
Millions of dollars
Reserves of depository ins-titutions
Monetary
base'
Date
total
nonbOrrowed
!>~,623
53,182
53,871
231,251
HOY.
DB C.
56,J99
59,560
55,6ll7
58,733
... 21
58,191
2~1,267
2 .. 1,101
J2,9ll7
3ll,80J
37,360
1987--JAL
rEB.
UL
APB.
59,t.b8
57,060
57,061
59,393
58,339
58,78ll
58,838
58,361
59,088
56,503
56,53 ..
58,ll00
5~,600
2.. 6,752
2..... 220
2llll,978
36, sa"
33,625
35,318
2"9, .lU
31,801
1986--oc~.
ll.ll
JUIB
JUl.I
AUG.
SBPT.
OCT. p
51,303
61,096
58,008
58,166
57.714
58,873
60,153
60,139
b 1,082
60,075
61,785
61,145
o1,108
60,585
5~,813
~~
55,8 .. 9
56,1llb
5d,56b
57,2&0
57,59 ..
58,071:1
57,J29
39,020
59,981
23,153
23,5"J
2.. ,071
21,676
21,595
2J.,19!J
2,018
J.J,08"
1,9 .. 7
1,872
2~,631
22,728
24,6ll9
2.2,7145
2~,860
25,59o
23,128
23,853
1,9o5
2,ll516
2,016
1,767
1,82Q
1,905
1,90J
1,90ll
1,732
1, 7ll3
25,0ll9
25,889
23,759
23,353
23,693
2ll,380
..!J,~35
21,743
21,510
..!1,873
22,475
258,061
36,466
36,309
J6, 110
35,616
36,685
37,2ll3
59,306
60 ,11~
255,685
258,440
36,826
J6,o72
25,026
26,183
J.J,J13
2ll,410
1, 71J
1, 773
111
60,268
60,6oo
259,21J
262,559
J8,33ll
37,511
25,11ll
25,1aa
23,ll51
2J,6Jq
1, 7..!J
1, 55JI
17
331
2 .. 9,9ll0
25"'· 539
25 .. ,671
2!> .. ,360
255,o91
lEEKS
BIDIIG
~110
----1987--ocr.
JOY.
7
21
~
p
18 PI
58,9~~
P--- PB IJ.~aiU 81
PB--PBBLLaliABI BS~ZIATB.
1/ BBPLBC!S ACTUAL BBSBBVB BKQUIBB!BITS, liCLODIIG THOSE 01 IOIDBPOSIT LIABILITIBS, fiiTd 10 ADJUSTIKITS ~0 BLIIIIIATB
THB BPPBCTS or DZSCOI~IIUITIBS ASSOCIATED WlTB liPLBIBITAtiOS or tHE !OIIflif COITBOL ACT OB OTHBB i~ULAIOBI
CHAIGBS tO BJSIBfB BBQUIBB!BITS.
21 COISlS!S 0~ toT&~ aBSBBfBS PLUS BBUU18BD CLB~iliG BALAICBS AID ADJUSTIBITS TO COIPBISATI lOB ILOAt At rBDBI~L BBSB&VB
BAI&S PLUS TBB CDBBIICT CO!POIBIT Ol THB 1011&1 STOCK LBSS THE liOUIT or fAULT CASH ROLDIIGS or TRIIIT IISTIIUTIOIS THAT
IS IICLDDBD II rHB CUIIBICI COftPOIJI~ or TRB lOlBI STOCK PLUS, lOR IISIITUIIOIS lOT RAYIIG IIQUIIID BBSI&fB BALAICBS, IHB
BXCBSS 01 CUIIIIt YAUL% CASH Ofli TBI AIOUIT APPLIID 10 SlflSPI CUIIIIT BBSIIYI BBQDIIBIBitS. AITii taB ZI~IODU~IOI or
CBB, CUIBBICl &ID VAULT C&SB riGDIBS 111 IBASUIID Of&l TRI IOID&I-IIDIIG COIPUTA~IOI PBBIOD.
31 BXCLVDBS IBQUZIBD CLIABIIG BALAICBS AID ADJUS~I&ITS TO COIPBIS~IB 101 rLOAT.
4/ DATBS BBIBI tO TBB I&IJTBIAICI PBIIODS II WMlCH THB VAULT CASH CAl 81 USED TO SlfiSrt BBSBifl BBQUIB&IBITS. UIDBI
COITBBPOI&IBOUS I&SI&fB BIQUIBBIBIITS. I~IITIIAICB PBBIODS BID J0 D~IS &rTBI IBB L&GG&D COIPOZA~IOI P&klOOS
II BBICB 'l'BB B.lLUCBS Ail BlU.D.
5/ IQD&L tO ILL f&DLT CASH a&LD DUBIIG THE LAGG&O COIPUtlTIOI P~IOD Bl IISTITUTIOIS B&IZIG IBQUI&BD BBSBIYB B&L&ICIS
AT IBDIBIL BISI8fB BilKS PLUS TBI AIOUIT or fAULT CASH IQUAL TO IBQUIBID IISBBfBS DUBIIG fBI l&lltllliCI PIBIOD At
ZISTZfUfiOIS l&fiiG 10 BIQOIBID IBSBBfB BALA~S.
6/ !OT&L f&ULr C&SB IT IISIITGrlOIS R&YZIG 10 IIQOIBBD IBSBBfl alL&ICBS LBSS TBI &IOUIT or fAULt C&SB IQUAL ~0 TBBIB
IIQDZIBD BIS&IJ&s DU&IJG ~81 a&IJTII&ICB PI&IDD.
11 COISISTS 01 Cl&BIOJBI OIL! I~ DIIOSI!O&I IISTL!U~IOIS a&lltlllll& IISI&YBS 01 fBI BASZS 01 '1'10-111& A&lltllliCI
PIUODS. &IILICTS UCBSS (•) 0& DUICU (-) &BSI&IIS BLlfUBLB TO U Cl&&IID ro&I.UD liTO TU riG-IIBI &&siiU
S~ZitsaA•ca PBalOD &IDI.G 01 T&l DATI SBOIJ.
56
H.3 (502)
Table 3
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adjusted for changes in reserve requiraments 1
Averages of daily figures, not seasonally adjusted
·
Millions of dollars
-·---··-oaie
total
----·
Reserves of depository institutions
non borrowed
Monetary base
required
1986-0CT.
HOJ.
DEC.
52,826
54,591
57,636
51,984
53,840
56,809
52,080
53,6111
56,267
1987-JU.
l'EB.
58,731
56,088
56,068
58,312
57,299
57,625
57,743
57,390
57,496
58,027
58,151
55.,53.2
55,541
57,379
56,2646
56,849
57,071
56,743
56,556
57,084
57,663
54,877
55,152
57,544
56,221
56,435
56,983
56,358
56,103
56,913
24J,4622
240,811
.2461,925
246,066
.246,831
7
21
57,230
58,044
56,0J5
57,037
56,397
57,076
251,003
253,123
4 p
18 PE
58,561
58,098
57,884
57,.538
57,044
57,613
254,245
257,174
BAll.
~Pa.
IllY
JUliE
JULY
lUG.
SEPT.
OCT. p
'
~JJ,o05
231,497
:l43,630
~49,28b
251,4.21t
.251,420
251,603
~53,271
TliO lEEKS
EIIDJ:IG
---------1987-oa.
I OJ.
P--- PBBLJ:JIUlBY
PE--PBELl:Jil:HlBI BSTIJilTB.
1/ PIGUBES iBPLBCT lDJUSTJIEIITS l'OB DISCOITIIOITIES lSSOCilTBD WITH TBE lJIPLBJIBJTlTIOI OP THB JIOIIBTlBI COHTBOL lCT
liD orRBB iEGDLlT08f CHliGIS TO 8BSBRIB 8BQU~JIBITS.
@FedFRASER