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FEDERAL RESERVE statistical release For Releaee at 4:30 Eastern Time H.3 (90S) t a b le t OCTOBBB AGGREGATE RESERVES OF DEPOSITORY INSTITUnONS AND THE MONETARY BASE 1, 1987 Adhiatad for changaa in m an* requirements1 Avsragea of dally flgurea, aaaaonally adfuatad unlaaa noted otherwise Millions of dollars Data total1 Weeervos of dapoaltory Institutions required nonborrowed plus nonborrowed extended credit* excees NSA4 Monetary baee* Borrowlnga of dapoaltory inatltutlons from thv Ftd tfil R m c vi NSA extended credit1 seasonal total 1986— AUG. SE P T . OCT. BOV. DEC. 51 *501 5 2 ,3 0 2 5 3 ,2 2 5 5 4 ,4 8 9 5 6 ,1 6 6 5 0 ,6 2 8 5 1 *2 9 4 5 2 ,3 8 4 5 3 ,7 3 7 5 5 ,3 4 0 5 1 *0 9 4 5 1 ,8 6 4 5 2 ,8 8 1 5 4 ,1 5 5 5 5 ,6 4 3 5 0 ,7 6 1 5 1 ,5 7 6 5 2 ,4 7 9 53 *5 1 1 54 *798 740 72 6 746 97 8 1 ,3 6 9 2 3 0 ,8 2 6 2 3 2 ,2 8 1 2 3 4 ,4 2 6 2 3 6 ,8 7 5 2 3 9 ,5 1 3 872 1 *0 0 8 841 75 2 827 144 137 99 70 38 465 570 497 41 8 303 1987— JA B . FEB. BAB. APB. BAT JUBB JOLT AUG. P 5 6 ,6 4 4 5 6 ,8 7 3 5 6 ,8 5 2 5 7 ,9 5 4 5 8 ,3 5 2 5 7 ,7 0 6 5 7 ,6 0 2 5 7 ,8 7 7 5 6 ,3 0 4 5 6 ,3 1 7 5 6 ,3 2 5 5 6 ,9 6 1 5 7 ,3 1 7 5 6 ,9 3 0 5 6 ,9 2 9 5 7 ,2 2 9 5 6 ,5 2 9 5 6 ,6 0 0 5 6 ,5 8 9 5 7 *2 3 1 5 7 ,6 0 4 5 7 ,2 0 3 5 7 ,1 2 4 57 *361 55 *816 55 *6 6 2 55 *936 5 7 , 127 5 7 ,2 7 3 5 6 *5 1 6 5 6 ,8 4 1 5 6 ,8 4 3 1 ,0 6 8 1 ,2 1 1 916 827 1 ,0 7 9 1 ,1 9 0 761 1 ,0 3 3 2 4 2 ,4 3 1 2 4 3 ,9 7 0 2 4 4 ,5 6 3 2 4 6 ,5 8 6 2 4 8 ,3 7 2 2 4 8 ,4 8 1 2 4 9 ,4 5 7 2 5 0 ,7 9 9 580 556 527 993 1 ,0 3 5 77 6 672 . 647 34 71 91 120 196 259 28 3 279 225 283 264 270 288 273 194 132 12 26 5 7 ,6 2 3 5 8 ,0 2 4 5 7 ,0 5 9 5 7 ,3 0 5 5 7 ,1 7 8 5 7 ,4 3 3 5 6 ,8 2 2 5 6 ,8 5 1 801 1 ,1 7 3 2 4 9 ,9 9 2 2 5 1 ,3 2 3 564 719 289 28 6 120 128 9 P 2 3 PE 5 8 ,0 7 3 5 7 *6 5 9 5 7 ,4 2 6 5 6 ,6 5 8 5 7 ,5 9 9 5 7 ,1 8 8 5 6 ,8 7 1 5 7 , 135 1 ,2 0 2 524 2 5 1 ,2 6 6 2 5 1 ,7 9 5 64 7 1 ,0 0 1 241 226 173 531 TBO NEEKS BBDIBG 1987-AU G . SEPT. PB— P B E L IA IN A B T E S T IA A T E P----- PB B LIAIM AB T 1/ BESBBVES ABB B O IB T A B I BASE FI6U BB S IBCOBPOBATE ADJUSTMENTS FOB D IS C O B T IB O IT IB S ASSO CIATED B IT B THE IBPLBBEBTATXOB OF THE BONBTABX COBTBOL ACT ABO OTfiBB BEGULATOBT CHANGES TO BBSBBVB BBQOIBBBEBTS. TO ADJUST FOB DXSCOBTXBOXTXBS 00B TO CBABGBS I B BBSBBVB BBQOXBBBBBTS OB BBSEBVABLB BOBOEPOSIT L I A B I L I T I E S * THE SOB OF SUCH BEQUIBEO BESBBVES ABE SOBSBACTED FBOA TBE ACTOAL S E B IE S . S I B I L A B L X , I B ADJUSTIBG FOB D IS C O B T1B O ITIB S I B TBE BONETABX B ASE, BEQUIBED CLBABIMG BALABCES ABO ADJUSXBBBTS TO COBPBBSATE FOB FLOAT ALSO ABE SOBTBACTEO FBOB TBE ACTUAL S E B IE S . 2/ TO TAL BESBBVES BOT AOJOSTBO FOB O ISC O BTIBO X TIES C O B SISTS OF BBSBBVB BALABCES B IT B FEDEBAL BESEBVE BABBS (B B IC B BXCLUDB BBQUIBBO CLBABIBG BALABCES AMD ADJUSTBBBTS TO COBPBBSATE FOB F LO AT) PLUS VAULT CASfl USED TO S A T I S F I BBSBBVB BEQUIBBBBMTS. SUCB VAULT CASB C O B SISTS OF A LL VAOLT CASE HELD DUBIBG TBE LAGGEB COBPUTATIOB PEBIOD BT IN S T IT U T IO N S MAVIBG BBQUIBBO BBSBBVB BALABCES AT FEDEBAL BBSBBVB BABBS PLUS THE ABOUBT OF VAULT CASH EQUAL TO BBQUIBBO BESEBVES OOBIBG TBE BAIBTEBABCB PE R IO D AT IN S T IT U T IO N S HAVING BO BEQUIBED BBSBBVB BALANCES. 3/ EXTENDED C B ED IT C O N SISTS OF BOBBOHING AT THB OISCOOBT BIBDOB UNDEB THE TEBBS ABD C O N D ITIO N S BSTABLXSBBD FOB TBE EXTBBBEB CBEDIT PBOGBAB TO BELP D EPO SITO B I IB S T IT O T IO B S DEAL B ITH SUSTAIBBD L I Q U I O I T I PBESSUBBS. BECAUSE TfiEBE I S BOT TBE SAAB BEBD TO BEPAT SOCB BOBBOHING PB O B PT LI AS TBBBB I S B IT B T B A D IT IO B A L SHOBT-TEBH ADJUSTBENT C B E D IT , THE BONEX BABKET I I I PACT OF EXTEBDED CBEDIT I S S IB IL A B TO TBAT OF BOBBOBBOBED BESBBVES. 4/ BESEBVE BALABCES B IT B FEDEBAL BBSBBVB BABKS PLUS VAOLT CASfl OSED TO SATXSFX BESEBVE BBQUXBEBBBTS LESS BEQUIBED BBSEBVES. 5/ THE BOBBTABT BASB BOT ADJUSTED FOB O IS C O B T IB U IT IB S C O B SISTS OF TOTAL BESEBVES PLUS BEQUIBED CLEABING BALANCES AND AOJOSTBBBTS TO COHFEBSAIE FOB FLOAT AT FEDEBAL BESEBVE BABKS PLUS THE CUBBBBCT COHPONENT OF THB AONEI STOCK LESS THE ABOUBT OF VAULT CASfl HOLDIBGS OF T B B IP T IB S T IT U T IO B S THAT I S IBCLUDED IN TBE CUBBEBCX COBPOBBBT OF TAB HOBBX STOCK P L U S , FOB IM S T IT O T IO N S NOT HAVING BBQUIBBO BBSBBVB BALABCES, THE EXCESS OF CUBBEMT VAULT CASH OVBB TAB ABOOMT A P P L IE D TO S A T I S F I CUBBBBT BBSBBVB BBQUXBEBBBTS. AFTEB TBE XBTBODUCTION OF CBB, CUBBENCX AND VAULT CASB FIGUBBS ABB BBASUBEO OVBB THB AOBDAX-BflDING CONFUTATION PB B IO D . PBIOB TO C BB, ALL COBPONBNTS OF THE HOMETABX BASE OTHEB THAB EXCESS BESEBVES ABE SEASOBALLX ADJUSTED AS A EflO LB , BATBBB THAN BT COAPOBEBT, AND EXCESS BESBBVES I S ADDED ON A MOT SEASONALLT ADJUSTED B A S IS . AFTEB CBB, THB SEASOMALLT ADJUSTED SE B IE S COBSISTS OF S E ASO N A LLI ADJUSTED TOTAL BESBBVES (BHICH INCLUDES EXCESS BBSEBVES ON A BOT SEASOBALLX ADJUSTED B A S IS ) PLUS THE SE ASO B ALLI ADJUSTED CUBBEBCX COIIPONEMT OF THE NONET STOCK PLUS THB BEBAIBIMG IT B A S SEASONALLT ADJUSTED AS A BHOLE. MOTE: H IS T O B IC A L DATA ABB A V A ILA B LE FBOA THE BANKING S E C T IO N , D IV IS IO N OF BESEABCH AMD S T A T IS T I C S , BOABD OF GOVEBMOBS OF THB FEDEBAL BESEBVE S IS T E B , WASHINGTON, O .C . 20551 H.3 (502) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Not adjusted for changes in reserve requirements^ Averages of daily figures, not seasonally adjusted _ Millions of dollars Reserves of depository institutions Vault cash4 # Monetary base2 Date used to satisfy required reserves5! total required nonborrowed total Reserve balances with F.R. Banks’ surplus® Net carryover of excess or deficit in reserve balances 7J -----------. uifjrr. 1 9 8 6 — AUG. SEPT. O C T. NOV. DEC. 5 1 ,2 7 7 5 3 ,1 8 9 5 4 ,6 2 3 5 6 ,3 9 9 5 9 ,5 6 0 5 0 ,4 0 5 5 2 ,1 8 0 5 3 ,7 8 2 5 5 ,6 4 7 5 8 ,7 3 3 5 0 ,5 3 8 5 2 ,4 6 3 5 3 ,8 7 7 5 5 ,4 2 1 5 8 ,1 9 1 2 3 3 ,3 1 5 2 3 5 ,0 6 7 2 3 7 ,2 5 7 2 4 1 ,2 6 7 2 4 7 ,7 0 7 3 0 ,1 6 5 3 1 ,9 2 2 3 2 ,9 4 7 3 4 ,8 0 3 3 7 ,3 6 0 2 3 ,4 5 1 2 3 ,3 8 4 2 3 ,7 5 3 2 3 ,5 4 3 2 4 ,0 7 1 2 1 , 112 2 1 ,2 6 7 2 1 ,6 7 6 2 1 ,5 9 5 2 2 ,1 9 9 2 ,3 3 9 2 , 117 2 ,0 7 8 1 ,9 4 7 1 ,8 7 2 19 87— J A B . FEB. HAB. APB. HAY JUNE JU LY AUG* P 5 9 ,6 6 8 5 7 ,0 6 0 5 7 ,0 6 1 5 9 ,3 9 3 5 8 ,3 3 9 5 8 ,7 8 4 5 8 ,8 3 8 5 8 ,3 6 2 5 9 ,0 8 8 5 6 ,5 0 3 5 6 ,5 3 4 5 8 ,4 0 0 5 7 ,3 0 3 5 8 ,0 0 8 5 8 ,1 6 6 5 7 ,7 1 5 5 8 ,6 0 0 5 5 ,8 4 9 5t>, 146 5 8 ,5 6 6 5 7 ,2 6 0 5 7 ,5 9 4 5 8 ,0 7 8 5 7 ,3 2 8 2 4 6 ,7 5 2 2 4 4 ,2 2 0 2 4 4 ,9 7 8 2 4 9 ,2 4 1 2 4 9 ,9 4 0 2 5 2 ,5 3 9 2 5 4 ,6 7 1 2 5 4 , 36 1 3 6 ,5 8 4 3 3 ,6 2 5 3 5 ,3 1 8 3 7 ,8 0 7 3 6 , 466 3 6 ,3 0 9 3 6 ,1 1 0 3 5 ,6 1 7 2 5 ,0 4 9 2 5 ,8 8 9 2 3 ,7 5 9 2 3 ,3 5 3 2 3 ,6 9 3 2 4 ,3 8 0 2 4 ,6 3 1 2 4 ,6 4 9 2 3 ,0 8 4 2 3 ,4 3 5 2 1 ,7 4 3 2 1 ,5 8 7 2 1 ,8 7 3 2 2 ,4 7 5 2 2 ,7 2 8 2 2 ,7 4 5 1 ,9 6 5 2 ,4 5 4 2 ,0 1 b 1 ,7 6 7 1 ,8 2 0 . 1 ,9 0 5 1 ,9 0 3 1 ,9 0 5 5 8 ,2 8 9 5 8 ,2 8 8 5 7 ,7 2 5 5 7 ,5 7 0 5 7 ,4 8 8 5 7 ,1 1 6 2 5 4 ,4 1 7 2 5 4 ,2 0 0 3 5 ,8 5 0 3 5 ,1 7 3 2 4 ,3 0 6 2 5 ,0 7 4 2 2 ,4 3 9 2 3 ,1 1 5 1* 8 6 7 1 ,9 5 9 146 22 5 8 ,7 4 4 6 0 ,3 5 2 5 8 ,0 9 7 5 9 ,3 5 1 5 7 ,5 4 2 5 9 ,8 2 8 2 5 4 ,6 7 6 2 5 6 ,3 3 2 3 6 ,3 0 0 3 6 ,8 7 3 2 4 ,2 8 8 2 5 ,1 4 b 2 2 ,4 4 4 2 3 ,4 7 9 1 ,8 4 4 1 ,6 6 8 174 210 TNO WEEKS ENDING 1 9 8 7 — AUG. SEPT. 12 26 9 23 P PE P----- P B E L IH IN A B Y PE— P B E L IH IN A B Y E S T IM A T E . 1/ HEFLE CTS AC TU A L RESERVE RE QUIREM EN TS 0 IN C L U D IN G THOSE OH N O N D E PO SIT L I A B I L I T I E S , i l T H MO AD JUSTH EN TS TO E L IM IN A T E THE EFFECTS OF D IS C O N T I N U I T I E S A S S O C IA T E D H IT fl IH P L E H E N T A T IO N OF THE HONETARY CONTROL A C T OB OTHEB REGULATORY CHANGES TO RESERVE R E Q U IR E M E N TS. 2/ C O N S IS T S OF T O T A L BESEBYES PLU S REQ UIRED C L E A R IN G BALANCES AND ADJUSTMENTS TO COMPENSATE FOB F L O A T A T FEDEBAL RESERVE BANKS PL O S THE CO B BE NC I COMPONENT OF THE MONEY STO CK L E S S THE AHOUNT OF VAULT CASH H O LD ING S OF T H B IF T I N S T I T U T I O N S TH A T I S IN C LU D ED I N THE C U R B E N C I COMPONENT OF THE MONEY STOCK P L U S , FOB I N S T I T U T I O N S NOT H A Y IN G REQ U IR ED BESEBYE B A L A N C E S , THE EXCESS OF CUBBENT Y A 0 L T CASH OVEB TH E AMOUNT APPJULED TO S A T I S F Y CUBBENT BESEBVE R E Q U IR B H E N TS . AFTER THE IN T B O D U C T IO N OF C R R , CURRENCY AND VAU LT CASH F IG U R E S ABE MEASUBED OVEB THE H O N D AY-END IN G C O M PUTATIO N P E R IO D . 3/ EXCLUDES BEQUIBED C L E A B IN G B ALA N C ES AND ADJUSTM ENTS TO COM PENSATE FOB F L O A T . 4/ D ATES REFER TO THE M AIN TEN AN CE P E R IO D S I N UHICH THE VAULT CASH CAN BE USED TO S A T I S F Y RESERVE B E Q U IB E H E N TS . UNDER CONTEMPORANEOUS RESERVE R E Q U IR E M E N TS, M A IN TEN AN CE P E R IO D S END 30 DAYS AFTER THE LAGGED C O M PU TATIO N P E R I O D S I N BHICH THE B ALA N C E S ABE H fiLD . 5/ EQUAL TO A L L VA U LT CASH HELD DUBING THE LAGGED C O H PU TA TIO N PE B IO D BY IN S T I T U T I O N S H AVIN G B EQ U IBE D BESEBVE B ALANCES AT FEDEBAL BESEBVE BANKS PLU S THE AMOUNT OF V A U LT CASH EQUAL TO BEQUIBED BESEBVES DUBING THE H A IN TEN AN C E PE B IO D AT I N S T I T U T I O N S H A V IN G NO B EQU IBED BESEBVE B A L A N C E S . 6/ T O T A L VAU LT CASH AT I N S T I T U T I O N S H A V IN G NO B EQ U IBED BESEBVE BALANCES LESS THE AHOUNT OF V A U LT CASH EQUAL TO THE1B BEQUIBED BESEBVES DUBING THE H A IN TE N AN C E P E R IO D . 7/ C O N S IS T S OF CARRYOVER ONLY AT D E P O S ITO R Y I N S T I T U T I O N S H A IN T A IN IN G R E S E R V E S ON THE B A S IS OF TM O -NEEK H AIN TEN AN C E P E R IO D S . B E FLE C TS EXCESS < ♦ ) OB D E F I C I T ( - ) R E S E R V E S E L I G I B L E TO BE C A R R I E D F O R WA R D IN T O THE TMO-MBBK R E S E R V E H A IN T E N A N C E P E B IO D EN D IN G ON THE DATE SHOWN* http://fraser.stlouisfed.org/ • • Federal Reserve Bank of St. Louis t • • • • • • t f H.3 (502) Table 3 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjusted for ch anges in reserve requirements1 A verages o f daily figures, not seasonally adjusted Millions o f dollars Date total Reserves of depository institutions nonborrowed Monetary base required 1986— AOG. SE P T . OCT. MOV. DSC. 5 1 , 082 5 2 ,0 1 9 5 2 ,8 26 5 4 ,5 9 1 57 ,6 36 5 0 ,2 10 51 ,0 11 51 ,9 8 4 5 3 ,8 40 5 6 ,8 0 9 5 0 ,3 4 3 5 1 ,2 9 3 5 2 ,0 8 0 53 ,6 1 4 56 ,2 6 7 23 1,27 8 23 2,06 8 233,605 23 7,49 7 2 4 3,63 0 1987— JAM. FSB. HAfi. A PS. HAY JUNE JULY AOG. P 5 8 ,7 3 1 5 6 ,0 8 8 5 6 ,0 68 58 ,3 72 57 ,2 99 57 ,6 2 5 5 7 ,7 43 5 7 ,3 9 1 58 ,1 51 5 5 ,5 3 2 55 ,5 41 57 ,3 7 9 5 6 ,2 6 4 56 ,8 4 9 5 7 ,0 71 5 6 ,7 4 4 5 7 ,6 6 3 5 4 ,8 7 7 5 5 # 152 5 7 ,5 4 4 56 ,2 21 56 ,4 3 5 5 6 ,9 8 3 56 ,3 58 243,1122 2 4 0,81 7 241,925 2 4 6 ,06 6 24 6,83 1 24 9,28 6 25 1,42 4 25 1,42 1 12 26 57 ,3 68 57 ,3 17 5 6 ,8 0 4 5 6 ,5 9 8 5 6 ,5 6 2 56 ,1 4 4 251,4182 251,287 9 P 23 Pi. 57 ,6 55 5 7 ,5 4 1 5 7 ,0 08 5 6 ,5 4 0 5 6 ,4 5 3 5 7 ,0 1 7 2 5 1,64 6 251,862 TWO HSSKS ENDING 1987— AUG. SBPT. N T U A DV -P S S L I H I lfA fiY ESTIMATE.
@FedFRASER