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LIBRARY ^-4Bi ,EDERAL F R&B^^ DEC; RESERVE statistical release OF PHILADELPHIA H.3 (502) •S?5BSP-' For Immediate Release Table 1 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve requirements 1 Averages of daily figures Reserves of depository institutions tota|2 Period nonborrowed required millions of dollars seasonal h/ adjusted Monetary base3 billions of dollars NOV. Reserves of depository institutions total2 nonborrowed required millions of dollars not seasonally adjusted 28, 1983 Monetary base3 billions of dollars 1982—OCT. NOV, DEC. 35,367 35,829 36,231 34,890 35,208 35,597 34,963 35,427 35,731 168.8 169.8 171.1 35,424 36,090 36,962 34,946 35,469 36,328 35,020 35,688 36,462 168.7 171.0 174.4 1983—JAN. FEE. MAR. APR. 35,634 36,100 36,803 37,153 37,129 37,612 37,800 37,694 37,717 37,503 35,104 35,517 36,011 36,144 36,177 35,976 36,347 36,148 36,276 36,659 35,086 35,664 36,370 36,677 36,680 37,132 37,293 37,247 37,220 36,998 171.9 173.8 176.1 177.3 178.8 180.3 181.1 182.1 183.4 184.4 37,611 35,973 36,056 36,911 36,637 36,787 37,341 37,064 37,386 37,558 37,082 35,390 35,264 35,902 35,685 35,151 35,888 35,518 35,946 36,714 37,063 35,537 35,623 36,435 36,188 36,306 36,833 36,618 36,889 37,053 173.2 171.8 173.6 176.3 177.8 179.6 181.7 181.8 182.9 . 184.2 12 19 26 37,757 37,399 37,603 37,855 36,344 36,128 37,026 37,290 37,135 36,670 37,262 37,401 184.1 184.0 184.4 184.9 37,674 36,768 37,945 38,250 36,261 35,497 37,368 37,685 37,052 36,039 37,604 37,796 183.4 184.4 184.8 184.2 2 9 P 16 P 23 P 36,762 36,446 37,287 37,534 36,322 35,403 36,263 36,719 36,388 35,845 36,634 37,126 184.3 184.3 185.8 186.0 37,035 36,300 37,632 37,923 36,595 35,257 36,608 37,108 36,661 35,699 36,979 37,515 183.5 185.6 187.4 187.4 MAY JUNE JULY AUG. SEPT. OCT. WEEK ENDING: 1983—OCT. NOV. 1/ 2/ 3/ 5 RESERVE AGGREGAIES INCLUDE REQUIRED RESERVES OP HEHBER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITORY INSTITUTIONS. DISCONTINUITIES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT, THE INCLUSION OF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES IN REGULATION D HAVE BEEN REMOVED. RESERVE BALANCES BITH FEDERAL RESERVE BANKS (IHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT INSTITUTIONS WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS. INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS IN THE CURRENT WFEK PLUS VAULT CASH HELD TWO WEEKS 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. NOTE: HISTORICAL DATA ARE AVAILABLE FROM THE BANKING SECTION, DIVISION OF RESEARCH AND STATISTICS, BOARD OF GOVERNORS OF THE FEDERAL RESERVE 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 millions of dollars required Monetary base3 billions of dollar* i 1982—OCT. NOV. DEC. 40,587 41,199 41,853 40,109 40,578 41,219 40,182 40,797 41,353 173.8 176.0 179.3 1983—JAN. FEBMAfi. APR- 41,864 39,798 38,035 38,650 38,282 38,415 38,948 38,661 37,916 38,138 41,334 39,215 37,243 37,640 37,330 36,779 37,495 37,115 36,475 37,294 41,316 39,362 37,602 38,174 37,833 37,934 38,440 38,214 37,418 37,633 177.9 176.0 175.9 178.4 179.8 181.6 183.7 183.8 183.5 184.7 12 19 26 38,156 37,275 38,447 38,632 36,743 36,004 37,870 38,067 37,534 36,546 38,106 38,178 183.9 184.9 185.3 184.6 2 9 P 16 P 23 P 38,201 37,451 38,050 38,391 37,761 36,408 37,026 37,576 37,827 36,850 37,397 37,983 184.7 186.8 187.8 187.9 HAY JUNE JULY AUG. SEPT. OCTWEEK ENDING: 1983—CCT. NOV. 1/ 2/ 3/ 5 RESERVES OF DEPOSITORY INSTITUTIONS SERIES REFLECT ACTUAL RESERVB REQUIREMENT PERCENTAGES WITH NO ADJUSTMENTS TO ELIMINATE THE EFFECT OF CHANGES IN REGULATION D, INCLUDING CHANGES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT. INCLUDES REQUIRED RESERVES OF 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 REDUCTION OF $2.9 BILLION; FEBRUARY 12, 1981, AN INCREASE OF $245 MILLION; MARCH 12, 1981, AN INCREASE OF $75 MILLION; MAY 14, 1981, AN INCREASE OF $245 MILLION; SEPTEMBER 3, 19-81, 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 INCHEASE OF $170 MIILION; MARCH 4, 1982, AN ESTIMATED REDUCTION OF $2.0 BILLION; 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; OCTOBER 28, 1982, AN ESTIMATED REDUCTION $100 MILLION; DECEMBER 23, 1982, AN ESTIMATED DEDUCTION OF $800 MILLION; MARCH 3, 1983, AN ESTIMATED REDUCTION OF $1.9 BILLION; AND SEPTEMBER 1, 1983, AN ESTIMATED REDUCTION OF $1.1 BILLION. BEGINNING WITH THE WEEK ENDED DECEMBER 23, 1981, RESERVE AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF BESERVABLE LIABILITIES TO INTERNATIONAL BANKING FACILITIES (IBFS). ON THE BASIS OF REPORTS OF LIABILITIES TRANSFERRED TO IBFS BY U.S. COMMERCIAL BANKS AND AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIMATED THAT REQUIRED RESERVES WERE LOWERED ON AVERAGE BY $60 TO $90 MILLIOH IN DECEMBER 1981 AND $180 TO $230 MILLION IN JANUARY 1982, MOSTLY REFLECTING A REDUCTION IN RESERVABLE EUROCURRENCY TRANSACTIONS. BEGINNING WITH THE WEEK ENDING APRIL 20, 1983, REQUIRED RESERVES WERE REDUCED AN ESTIMATED $80 MILLION AS A RESULT OF THE ELIMINATION OF RESERVE REQUIPEMENTS ON NONPERSONAL TIME DEPOSITS WITH MATURITIES OF 2-1/2 YFARS TO 3-1/2 YEARS. ALSO, BEGINNING WITH WEEK ENDING OCTOBER 26, 1983, REQUIRED RESERVES WERE REDUCED AN ESTIMATED $90 MILLION AS A RESULT OF THE ELIMINATION OF RESERVES REQUIREMENTS ON NONPERSONAL TIME DEPOSITS WITH MATURITIES OF 1-1/2 YEARS TO 2-1/2 YEARS. RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDED REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT INSTITUTIONS WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS. INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDEBAL RESERVE BANKS IN THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS 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.
@FedFRASER