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AL RESERVE statistical release H.3 (502) For Immediate Release Table 1 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE OCT. Averages of daily figures Reserves of depository institutions total2 | non borrowed required millions of dollars seasonal l>/ adjusted Period Monetary base3 billions of dollars Reserves of depository institutions total2 required non borrowed millions of dollars not seasonally adjusted 11 , 1983 Monetary base3 billions of dollars 1982—SEPT. OCT. NOV. DEC. 35,107 35,367 35,829 36,231 34,173 34,890 35,208 35,597 34,723 34,963 35,427 35,731 167.7 168.8 169.8 171.1 34,817 J5,424 36,090 36,962 33,883 34,946 35,469 36,328 34,433 35,020 35,688 36,462 167.3 168.7 171.0 174.4 1983—JAN. FEBHAfi. APB. HAY JUNE JULY AUG. SEPT- 35,634 36,100 36,803 37,153 37,129 37,612 37,800 37,694 37,715 35,104 35,517 36,011 36,144 36,177 35,976 36,347 36,148 36,271 35,086 35,664 36,370 36,677 36,680 37,132 37,293 37,247 37,217 171.9 173.8 176.1 177.3 178-8 180.3 181.1 182.1 183.4 37,611 35,973 36,056 36,911 36,637 36,787 37,341 37,064 37,384 37,082 35,390 35,264 35,942 35,685 35,251 35,£88 35,518 35,940 37,063 35,537 35,623 36,435 36,186 36,306 36,833 36,618 36,886 173.2 171.8 173.6 176-3 177.8 179.6 181.7 161.6 182.9 7 14 21 P 28 P 37,959 37,246 38,015 37,615 36,713 36,096 35,906 36,334 37,202 36,842 37,698 37,153 183.1 183.1 183.6 183-7 37,129 36,564 37,872 37,877 35,883 35,414 35,763 36,596 36,372 36,160 37,555 37,415 184.0 162-7 182.9 181.9 5 P 37,803 36,387 37,125 184.4 37,720 36,304 37,042 163.8 P WEEK E N D I N G : 1983—SEPT. OCT- 1/ 2/ 3/ BESEBVE AGGBEGATBS INCLUDE BEQUIBED BESEBVES OF HEflBEB BANKS AND EDGE ACI CGBFGBAIIOMS AND CIHEB DEPQSIIOBY INSTITUTIONS. DISCONTINUITIES ASSOCIATED H U H THE IMPLEMENTATION OF THE JBCNEIASY CGNIBOI ACI, 2HE INCIUSICN OF EDGE ACT COBPCBATICN BESEBVES, AND CIHEB CHANGES IN BEGDLATICN D HAVE EEIN BEtfOVED. BESEBVE BALANCES SIIH FEDEBAL BESEBVE BANKS (WHICH EXCLUDE BEQUIBED CLEAfiING BALANCES) PLUS VAULT CASB AT INSTITUTIONS BITH BEQDIBED BESEBVE BALANCES PLUS VAULT CASH EQUAL TO BEQJUIBED BESEBVES AI CIHEB INS2I1UIICMS. INCLUDES BESEBVE BALANCES AND BEQUIBED CLEAfiING BALANCES AT FEDEBAL BBSEiVE BANKS IN SHE C0BBENI SIEl PLUS VAULT CASH HELD IBO 1EEKS EABLIEB USED TO SATISFY BESEBVE BEQUIBEMENIS AI ALL DEPCSIIQBY INSTITUTIONS PLUS CUBBENCY OUTSIDE THE U.S. TBEASUBY, FEDEBAL BESEBVE BANKS, THE VAULTS OF XEPCSIICBY IMSII1UIICNS, AND SUBPLUS VAULT CASH AT DEPCSITCBY INSTITUTIONS. MOTE: HISTOBICAL DATA ABE AVAILABLE FBOM THE BANKING SECTION, DIVISION OF BESEABCH AND STATISTICS, BOABD OF GOVEBNCBS 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 billions of dollars millions of dollars 1982—SEPT. CCI. NCV. DEC. 39,962 40,587 41,199 41,853 39,028 40,109 40,578 41,219 39,578 40,182 4C,797 41,353 172-4 173.8 176.0 179.3 1983—JAN. FEE. BAB. APB. HAY JUNE JULY AUG. SEPT. P 41,864 39,798 38,035 38,650 38,282 38,415 38,948 38,661 37,914 41,334 39,215 37,243 37,640 37,330 36,779 37,495 37,115 36,469 41,316 3S,36*t 37,602 34,174 37,833 37,934 38,440 3.6,214 37,416 177.9 176.0 175.9 178.4 179.8 181.6 183.7 183.8 183.5 7 14 21 P 28 P 37,671 37,118 38,413 38,370 36,425 35,968 36,304 37,089 36,914 36,714 38,096 37,908 184.5 183.3 183.5 182.4 5 P 38,207 36,791 37,529 184.3 WEEK ENDING: 1983—SEPT. OCT. 1/ 2/ 3/ Monetary base3 RESEBVES OF DEPOSITORY INSTIT0TIONS SEBIES BEFLECT ACTUAL RESERVE REQUIREMENT PE&CENTAGES WITH JO ADJ0SIflENTS TO ELIMINATE THE EFFECT OF CHANGES IN flEGULATION D, INCLUDING CHANGES ASSCCIAIED NITH THE IMPLEJEJiTATION CF THE MONETARY CONTROL ACT. INCLUDES REQUIBED RESEBVES Of MEMBER BANKS AND EDGE ACT CCBPQBAIIONS AND, BEGINNING NOVEMBER 13, 1980, OTHER DEPOSITORI INSTITUTIONS. UNDER THE TRANSITIONAL PHASE-IN PRCGBAM OF THE MONETARY CONTROL ACT OF 1980 AND PROVISIONS OF THE DEPOSITORY INSTITUTIONS ACT CF 1982, THE NET CHANGES IN REQUIRED BESIDES CF DEPCSIICBY 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, 1981, A REDUCTION OF $1.1 E I H I O N ; NOVEMBER 12, 1981, AN INCREASE OF $210 MILLION; JANUARY 14, 1982, A REDUCTION OF $6Q MILLION; FEBBUARJ 11, 1982 AN INCREASE CF $170 MIILION; HAfiCH 4, 1982, AN ESTIMATED REDUCTION OF $2.Q BILLION; MAY 13, 1982, AN ESIIHATED INCREASE OF $150 MILLION; AUGUST 12, 1982, AN ESTIMATED INCREASE OF $140 MILLION; SEPIEUBEB 2, 1982, AN ESTIMATED REDUCTION Of $1.2 BILLION; OCTOEEB 28, 1982, AN ESTIMATED REDUCTION $100 MILLION; D£C£M££fi 23, 1982, AN ESTIMATED REDUCTION OF $800 MILLION; MARCH 3, 1983, AN ESTIMATED REDUCTION CF $1.9 BILLION; AND SEPIEJEEB 1, 1983, AJ ESTIMATED REDUCTION OF $1.1 BILLION. BEGINNING 1ITH THE WEEK ENDED DECEMBER 23, 1981, BESERVE AGGREGATES HAVE BEEN REDUCED BY SHIFTS CF RESERVABLE LIABILITIES TO INTERNATIONAL BAN&ING FACILITIES (IEFS). ON THE BASIS OF BEPGRIS CF LIABILITIES TRANSFERRED TO IBFS BY U.S. CGHME5CIAL BANKS AND AGENCIES AND ERANCHES Of FOREIGN BANKS, IT IS ESTIMATED THAT REQUIRED RESEBVES IERE LOWERED ON AV£RAG£ £Y $60 TO $90 MILLION IN DECEMBER 1981 AND $180 TO $230 MILLION IN JANUARY 1982, MOSTLY REFLECTING A REDUCTION IN RESEBVABLE EURCCBRBENCY TRANSACTIONS. ALSO, BEGINNING WITH THE WEEK ENDING APRIL 20, 1983, REQUIRED RESERVES N«ERE REDUCED AN ESTIMATED $80 tlLLlOU AS A RESULT OF THE ELIMINATION OF RESERVE REQUIREMENTS ON NONPERSONAL TIME DEPOSITS JiITH MATURITIES OF 2-1/2 YEARS OR MOBE TO LESS THAN 3-1/2 YEABS. RESERVE BALANCES KITH FEDEBAL RESERVE BANKS (WHICH EXCLUDED REQUIRED CLEARING BALANCES) PLUS VAUXX CASH AT INSTITUTIONS WITH REQUIRED BESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT CltiEfl INSTITUTIONS. INCLUDES RESERVE EALANCES AND REQUIRED CLEARING BALANCES AT FEDEBAL BfiSEBVE EANKS IN THE CURRENT WEEK PLUS VAULT CASH HELD TWO SEEKS EARLIER USED TO SATISFY RESERVE REQUIREMENTS AT AIL DEPOSITORY INSTITUTIONS PLUS CURRENCY OUTSIDE THE U.S. TREASURY, FEDEBAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND SURPLUS VAULT CASH AT DEPCSIICBY INSTITUTIONS.
@FedFRASER