Full text of H.3 Aggregate Reserves of Depository Institutions and the Monetary Base : November 22, 1982

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LIBRARY
FEDERAL RESgRVE^tatistical release
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H.3 (502)

For Immediate Release

Table 1

NOVEMBER 22,

AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE
Adjusted for changes in reserve requirements 1
Averages of daily figures
Reserves of depository institutions
Period
tota|2
! non borrowed
required
millions of dollars
seasonally adjusted

Monetary base3
billions of dollars

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

1981—SEPT.
OCT.
NOV.
DEC,

37,721
37,603
37,615
37,988

36,265
36,422
36,552
37,351

37,307
37,325
37,270
37,668

160.6
160.8
161.2
162.7

37,519
37,696
37,782
38,662

36,063
36,515
3 7 , 119
38,025

37,105
37,418
37,438
38,342

1 9 8 2 — JAN.
FEB.
MAR.
APRMAY
JUNE
JOII
AUG,
SEPT.
OCI.

38,713
38,262
38,356
38,433
38,504
38,575
38,523
38,804
39,566
39,880

37,195
36,472
36,801
36,865
37,387
37,370
37,832
38,289
38,632
39,403

38,295
37,958
37,994
38,160
38,145
38,266
38,210
38,492
39,182
39,471

164,3
164.7
165.2
166,5
167.7
168.8
169.2
170. 1
171.9
172.8

40,036
38,052
37,799
38,330
38,189
38,069
38,434
38,512
39,353
40,002

38,519
36,262
36,244
36,762
37,071
36,864
37,743
37,996
38,420
39,524

39,618
37,748
37,437
38,057
37,830
37,761
38,120
38,199
38,969
39,592

6
13
20
27

39,846
3 9 , 196
40,159
4 0 , 110

39,240
38,83 1
39,643
39,658

39,335
38,734
39,898
39,791

172.3
172.2
173.1
173. 1

39,655
38,710
40,656
40,510

39,049
38,345
40,140
40,058

39,144
38,248
40,395
4 0 , 191

3 P
10 P
17 P

40,238
39,660
40,771

39,779
38,940
40,029

39,657
39,240
40,371

173.5
172.7
174.5

40,747
39,838
41,018

40,288
39,118
40,276

P

1982

IVfonetary base3
billions of dollars
160.2
160. 8
162.6
165.8
165.3
162.9
163.3
165.6
167.1
168.2
170.0
17 0>. 4
171. 4
172. 9

REEK ENDING:
1982-OC1.

NOV.

\ 7
V

)

40,166
39,418
40,618

172.6
172.6
173.5
172.3
173.5
174. 7
176.0

B^RSpHirrBl>rAlFS INCLUDE BEQUIEED BESEEVES OF SEHBEB BANKS AND EDGE ACT C0EP0BATI0NS AND CIHEB DEPOSITORY
*»e~?In.rTn^ nTSCONMNOITIES ASSOCIATED HITH THE IMPLEMENTATION OF THE MONETABI CONTBOL ACT, THE INCLUSION

s^sL^-.'E , a^^w."^!ra^ , KS." , s^-Ks^i I . , s.BJ-ai.
c
B
» i l l s 1 1^S?£SS!*SS,BS Kic,?.5?S?/S!^
S;SS.
£S«& S^S 5. !„ r .
- i r s Fav:? ss tiaras s^Sn ^s.ii , saA-5"«ra«LKj^.s ss
LcS^ED ON fvEBAGrBI $10 TO $20 BILLION IN DECEMBEB 1981 AND $40 TO $70 MILLION IN JANUABI 1982.

CMBEN"

O O I S D E T H E " : " TBEASUBI. FEDEBAL BESEBVE BANKS, THE VAULTS OF DEPOSITOBI INSTITUTIONS. AND

SUBfLUS VAULT CASH AT DEPOSITOBI INSTITUTIONS.
NOTE- HISTOBICAL DATA ABE AVAILABLE FBOfl THE BANKING SECTION, DIVISION OF BESEABCH AND STATISTICS.
BOABD OF GOVEBNOBS OF THE FEDEBAL BESEBVE SYSTEM. WASHINGTON, D.C 20551.




H.3
Table 2

AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS
Not adjusted for changes in reserve requirements
Average of daily figures, not seasonally adjusted
Reserves of depository institutions1
total2

Period

nonborrowed

required

Monetary
base3

millions of dollars

1981—SEPT.
OCT.
NOV.
DEC.

40,591
40,711
40,948
41,924

39,134
39,531
40,285
41,287

40,177
40,433
40,604
41,604

163.9
164.3
166.3
169.7

1982—JAN.
FEB.
MAR.
APR.

43,203
41,286
39,235
39,557
39,550
39,565
39,967
40,178
39,962
40,592

41,685
39,496
37,680
37,989
38,433
38,360
39,275
39,662
39,028
40,114

42,784
40,982
38,873
39,284
39,191
39,257
39,653
39,866
39,578
40,183

169.1
166.8
165.4
167.6
169.2
170.4
172.3
172.8
172.3
173.8

13
20
27

40,248
39,349
41,238
41,088

39,642
38,984
40,722
40,636

39,737
38,887
40,977
40,769

173.5
173.6
174.4
173.3

3 P
10 P
17 P

41,284
40,385
41,530

40,825
39,665
40,788

40,703
39,965
41,130

174.4
175.7
176.9

MAY
JUNE
JULY
AUG.
SEPT.
OCT.
WEEK

1982-

OCT.

NOV.

1/

P

ENDING:

6

RESERVES OF DEPOSITORY INSTITUTIONS SERIES REELECT ACTUAL RESERVE REQUIREMENT PERCENTAGES WITH NO ADJUSTMENTS TO ELIMINATE THE EFFECT OJF CHANGES IN REGULATION D, INCLUDING CHANGES ASSOCIATED H U H THE IMPLEMENTATION Of THE MONETARY CONTROL ACT. INCLUDES REQUIRED RESERVES CF MEMBER BANKS AND EDGE ACT CORPORATIONS
AND, BEGINNING NOVEMBER 13, 1980, OTHER DEPOSITORY INSTITUTIONS. UNDER THE TRANSITIONAL PHASE-IN PROGRAM
OF THE MONETARY CONTROL ACT OF 1980 AND PROVISIONS OF THE DEPOSITORY INSTITUTIONS ACT OF 1982, THE NET
CHANGES IN, REQUIRED RESERVES OF DEPOSITORY INSTITUTIONS HAVE BEEN AS FOLLOWS: EFFECTIVE NOVEMBER 13, 1980,
A DEDUCTION OF $2.9 BILLION; FEBRUARY 12, 1981, AN INCREASE OF $245 MILLION; AUGUST 13, 1981, AN INCREASE
OF $245 MILLION; MARCH 12, 1981, AN INCREASE OF $75 MILLION; MAY 14, 1981, AN INCREASE Of $245 MILLION;
AN INCREASE CF $230 MILLION; SEPTEMBER 3, 1981, A REDUCTION OF $1.1 BILLION; NOVEMBER 12, 1981, AN INCREASE
OF $210 MILLION; JANUARY 14, 1982, A REDUCTION OF $60 MILLION; FEBRUARY 11, 1982 AN INCREASE OF $170
MILLION; MARCH 4, 1982, AN ESTIMATED REDUCTION OF $2.0 BILLICN; MAY 13, 1982, AN ESTIMATED INCREASE OF
$150 MILLION; AUGUST 12, 1982, AN ESTIMATED INCREASE OF $140 MILLION; SEPTEMBER 2, 1982, AN ESTIMATED REDUCTION
OF $1.2 BILLION, AND OCTOBER 28, 1982, AN ESTIMATED REDUCTION OF $100 MILLION. BEGINNING WITH THE HEEK ENDED
DECEMBER 23, 1981, RESERVE AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF BESERVABLE LIABILITIES TO INTERNATIONAL
BANKING FACILITIES (IB*S). ON THE BASIS OF REPORTS OF LIABILITIES TRANSFERRED TO IBFS BY U.S. COMMERCIAL
BANKS U.S. AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIMATED THAT REQUIRED RESERVES HERE LOHERED ON AVERAGED
BY $60 TO $90 MILLION IN DECEMBER 1981 AND $180 TO $230 IN JANUARY 1982, MOSTLY REFLECTING A SEDUCTION IN
RESERVABLE EUROCURRENCY TRANSACTIONS.
2/ RESERVE BALANCES HITH FEDERAL RESERVE BANKS (HHICH EXCLUDED REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT
INSTITUTIONS HITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS,.
3/ INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS IN THE CURRENT IEEK PLUS
VAULT CASH HELD THO HEEKS EARLIER USED TO SATISFY RESERVE REQUIREMENTS AT ALL DEPOSITORY INSTITUTIONS PLUS
CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND
SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS.