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FEDERAL RESERVE statistical release istj H.3 (502) For Immediate Release Table 1 HOVEHBEB AGGREGATE RESERVES AND MEMBER BANK DEPOSITS*. Average of daily figures 2, 1981 ^ » Reserves of depository institutions 1 tota|2 Period required nonborrowed its subject to reserve requirements rivate demand deposits crs: other net government interbank demand billions of dollars Monetary base3 millions of dollars seasonally adjusted 1980—AUG. SEPT. OCT. NOV. DEC. 40,749 41,517 41,727 41,251 40,127 40,090 40,206 40,417 39,191 38,437 40,447 41,262 41,521 40,730 39,659 158.2 159.4 160.6 160.6 159.5 667.8 678.2 684.7 694.3 701.8 474.2 482.0 486.7 494.1 504.0 191.5 194.5 195.6 198.0 195.9 14.4 15.9 16.5 17.3 17.5 177.1 178.6 179.1 180.6 178.4 2. 1 1-8 2.4 2.2 1.9 1981—JAM. FEB. HAB. APB. HAT JUNE JOLI ADG. SEPT. 40,060 39,880 40,185 40,322 40,764 40,753 40,998 41,469 41,122 38,665 38,577 39,186 38,985 38,536 38,716 39,318 40,049 39,666 39,750 39,604 39,937 40,195 40,569 40,504 40,747 41,267 40,797 160.1 160.4 161.2 162.2 163.5 163.7 164.8 165.7 164.6 703.8 704.3 703.4 711.2 715.2 720.8 728.2 740.2 744.6 517.5 523.4 524.7 531.1 538.1 545.6 553.8 565.3 570.9 184.1 178.. 8 176.7 177.4 174.9 173.3 172.2 172.6 171.5 17.0 17.9 18.2 17.7 18.1 18.2 17.7 17.9 17.7 167.0 160.9 158.6 159.7 156.8 155.2 154.4 154.7. 153.8 2.3 2.1 2.0 2.8 2.2 1.9 2.2 2.3 2.1 41,751 40,599 40,931 41,191 41,588 40,303 39,014 39,582 39,745 40,140 41,500 40,246 40,619 41,010 41,115 165.7 164.2 164.6 164.5 165.1 743.2 746.0 746.4 742.9 742.0 568.9 571.2 570.5 571.0 570.5 172.2 172.1 173.3 170.3 169.9 19.2 17.6 17.7 17.3 18.1 153.1 154.6 155.6 153.0 151.8 [ 2.1 2.7 2.7 1.7 1.6 40,575 40,513 41,103 39,429 39,403 39,848 40,358 40,228 40,970 163.8 164.4 164.9 750.1 751.9 749.0 574.1 576.5 574.7 174.1 173.3 171.9 16.5 16.9 15.7 157.6 156.4 156.2 I 14.2 15.9 1 16.5 18.0 18.2 174.8 178.0 179.8 161.5 185.0 1.7 2.1 2.1 1.9 2.1 WEEK ENDING: 1981—SEPT. 2 9 16 23 30 OCT. 7 14 P 21 P 1.9 2.1 2.5 not seasonally adjusted 1980—AOG. SEPT. OCT. NO?. DEC. 40,373 39,715 41,164 | 39,852 41,704 40,394 41,244 I 39,184 40,614 38,924 1981—JAN. FEB. MAB. APfi. HAY JONE J0LY AOG. SEPT. ! 40,071 40,908 41,498 40,723 40,146 158.0 159.0 160.6 161.6 162.4 662.5 675.6 684.2 694.5 710.3 471.8 479.6 485.7 4 93,. 2 505.0 189.0 193.9 196.4 199.5 203.2 161.0 158.8 159.5 161.6 162.6 163.3 165.4 165.4 163.9 712.6 701.5 702.9 713.5 710.1 719.7 727.7 734.7 741.6 520.6 524.9 527.8 531.6 538.1 545.0 552.7 562.5 568.1 189.9 174.5 173.1 178.9 170.0 172.2 173.0 170.3 171.0 18.2 17.7 17.7 17.3 17.1 17.8 18.0 17.6 17.7 171.7 156.8 155.4 161.6 152.9 154.4 155.1 152.7 153.3 2.1 2.0 2.1 3.0 2.1 2.5 2.0 1.9 2.5 737.3 746.1 740.2 i 737.4 566.6 548.9 567.4 567.9 568.2 169.2 171.2 175.6 | 169.7 167.2 17.8 17.7 18.0 17.5 17.3 151.4 153.5 157.6 152.2 , 149.8 1.5 2.2 3.1 2.7 2.0 752.7 751.6 748.7 573.5 576.0 573.5 177.1 174.0 173.0 17.3 15.8 16.0 159.8 158.3 157.0 41,535 39,754 39,693 40,291 40,433 40,353 40,917 40,933 40,501 40,141 38,450 38,694 38,953 38,205 38,316 39,238 39,514 39,045 41,226 ! 39,478 39,445 40,164 40,258 40,104 40,667 40,731 40,177 41,084 39,661 40,118 40,575 41,484 39,636 38,076 38,769 39,129 40,036 40,833 39,308 39,806 i 40,394 41,011 164.5 164.7 164.0 163.4 163.5 40,322 40,027 t 41,378 39,176 38,917 40,123 40,105 39,742 41,245 164.3 164.6 165.0 I ! WEEK ENDING: 1981—SEPT. OCT. 2 9 16 23 30 7 14 P 21 P See reverse tWe for explanation of footnotes. S 742.3 | ( ; [ I 2.0 1.6 2.2 H.3 Tab* 2 AGGREGATE AM© MONETARY BASE Adjusted for changes in Averages of daily figures requirements* Reserves of depository institutions tot-2 Period i nonborrowed i millions of doller 1 Monetary bese3 required \ seasonalt r adjusted lbillions of doHali, Reserves of depository institutions totatt [ nonborroeied 1 required millions of dollars not seasonaBy adjusted I Monetary base? bMomotdoJUrl 1980—AUG. SEP*. OCT. BOY. 5 / DBC. 37,174 37,856 38,039 39,187 39,187 36,516 36,545 36,729 37,128 37,497 36,872 37,601 37,833 38,666 38,719 153.3 154.3 155.6 157.7 158.2 36,845 37,547 38,023 39,189 39,657 36,187 36,235 36,713 37,130 37,966 36,544 37,291 37,817 38,668 39,189 153.2 154.0 155.6 158.7 161.0 1981—JAB. FEB. BAB. APR. BAT JO I B J01I A06. SEPT. 39,182 38,948 39,070 39,2t>5 39,542 39,351 39,609 39,883 40,614 37,787 37,645 38,070 37,928 37,314 37,314 37,930 38,463 39,158 38,872 38,672 38,821 39,138 39,367 39,102 39,359 39,681 40,290 158.7 159.0 159.5 160.5 161.7 161.6 162.7 163.4 164.0 40,601 38,819 38,590 39,231 39,228 38,964 39,546 3 9 / J 89 39,997 39,207 37,516 37,590 37,894 37,000 36,927 37,867 37,970 38,541 40,291 38,544 38,342 39,104 39,053 38,715 39,296 39,187 39,673 159.6 157.4 157.8 159.9 160.8 161.2 163.3 163.2 163.3 2 9 16 23 30 40,012 40,167 40,485 40,769 41,210 38,564 38,582 39,136 39,323 39,762 39,761 39,814 40,173 40,588 40,737 163.2 163.7 164.1 164.0 164.6 39,397 39,229 39,671 40,153 41,106 39,146 38,876 39,359 39,972 40,633 162.1 164.2 163.5 162.9 163-0 7 14 P 21 P 40,146 40,065 40,708 39,000 38,955 39,453 39,929 39,780 40,575 163.3 163.8 164.4 39,892 39,578 40,982 39,675 39,293 40,849 163.8 164.0 164.5 WEEK ENDING: 1981—SEPT. OCT. I I ! 37,949 37,644 38,322 38,707 39,658 38,746 38,468 39,727 i | | | P - PBRLIBINABI 1/ BESEBYES OF DEPOSITORY INSTITUTIONS SEBIBS REFLECT ACTUAL RBSEBYE BBQOIREBEBT PERCEBTA6ES WITH MO ADJUSTMENTS TO ELIMINATE THE 2FFECI OF CHARGES IB REG0LATIOB D, INCLUDING CHARGES ASSOCIATED HITH THE IBPLBHENTAIICN OF THE BOBETABI CONTROL ACT. INCL00ES REQUIRED BESEBYES OF BBHBBB BANKS AND EDGE ACT CORPORATIONS AND, BBGIBBIHG NOVEflBER 13, 1980, OTHER DEPOSITORI INSTI10TIONS. ORDER IHE TRANSITIONAL PHASE-IN P&OGRAd CF THE HONETARI CONTROL ACT OF 1980, THE NET CHANGES IN REQUIRED RESEBYES OF DEPOSITOBI INSTITUTIONS HAVE 3EEN AS FOLLOHS: EFFECTIVE NOVEMBER 13, 1980, A REDOCTIOB OF $2.8 BILLIOB; FEBBOABI 12, 1981, AN INCREASE OF S245 BILLION; HARCB 12, 1981, AN INCBEASE OF $75 BILLIOB; HAT. 14, 1981, AB INCBEASB OF $245 BILLION; AUGUST 13, 1981, AB INCREASE OF $245 BILLION; AND SEPTEMBER 3, 1981, A REDUCTION OP $1.3 BILLIOB. 2/ BESEBVE BALANCES HITH FEDERAL RESBRYE BANKS (WHICH EXCLUDE BEQOIHED CLEARING BALANCES) PLUS VAULT CASB AT INSTITUTIONS HITH REQUIRED RESERVE BALANCES PLUS VAULT CASB EQUAL TO BBQOIBBD BESEBYES AT OTBEB INSTITUTIONS. 3/ INCLUDES RESERVE BALANCES AND BBQUIBBD CLEABING BALANCBS AT FEDERAL RESEBYB BANKS IN THE CUHRENT RBBK PLUS VAULT CASH HELD THO KEEKS EARLIER USED* TO SATISFY RESERVE BEQUIBBBBBXS AT ALL DEPOSITOBI INSTITUTIONS PLUS CURRENCY OUTSIDE THE U.S. TREASURY, PRDBBAL RESERVE BABKS, TBB VAULTS OF DEPOSITOBI INSTITUTIONS, AND SUBPLUS VAULT CASH AT DEPOSITOBI INSTITUTIONS. 4/ BESEBVE AGGBEGATES SEBIBS HAVE BEEN ADJUSTED TO BEBOYE DISCONTINUITIES ASSOCIATED BITB THE IBPLBBEBIAIIOB OF THE HOBETARY CONTROL ACT, TBE INCLUSION OF EDGE ACT CORPORATION BBSSRYBS, ABD OTBEB CBABGBS IN REGULATION D. RESERVE AGGREGATES SEBIBS BAYB BEEN ADJUSTED HISTORICALLY TO COBFOBB TO THE STRUCTURE QT RESERVE RBQUIREBENTS CURRENTLY IN EFFECT. 5/ RBSEBYE HEASURES FOR NOVEflBER REFLECT INCREASES IB REQUIRED RESERVES ASSOCIATED BITB TBB REDOCTIOB OF NEEKEND AVOIDANCE ACTIVITIES OF A FEB LARGE BABKS. TBE BBDUCTIOB IB TBBSJs ACTIVITIES LEADS TO ESSEBTIALLI A ONB-TIHB INCREASE IB TBE AVERAGE LEVEL OF BBQUIBBD BBSEfiVBS THAT BEBD TO BE HELD FOB A GIVBB LEVEL OF DEPOSITS EBTERING TBE BOBEY SUPPLY. IN NOVBHBBR, TBIS INCREASE IN BBQOIBBD BESEBYES IS BSTIBATBD AT $550 90 $600 UTt^Tpy, BOTB: HISTORICAL DATA ARE AYAILABLB FBOB THE BARKING SECTION, DIVISION OF RESEARCH ABD STATISTICS, BOARD OF GOVERNORS 0* THE FEDtRkl RESEAT SYSTBfl, BASHING TON, B.C. 20551.
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