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RESERVE statistical release
H.3 0O2)
Table 1
For nslssss at 4:30 Eastern Time
OCTOBER
16,
1986
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
1
Adjusted for changes In reserve requirements
Averages of dally flgurM, seasonally adjusted unless notad otharwlat
Millions of dollars
Reserves of depository Institutions
total1
I
212,289
213,566
215,253
216,721
Borrowings of depository Institutions
from the Federal Reserve , NSA
total
seasonal
extended credit*
1,289
656
203
1,187
629
172
1,741
107
530
1,318
56
499
1,111
1,097
896
801
838
931
910
740
727
218,404
219,788
221,262
222,359
224,904
226,631
228,300
230,587
231,628
770
884
761
893
876
803
741
872
1,008
36
56
68
73
94
108
116
144
137
497
492
518
634
584
531
378
465
570
50,980
51,064
793
708
231,563
231,347
1,111
981
149
135
592
569
51,272
659
232,394
902
126
538
1985—SEPT.
OCT.
HOV.
DEC.
43,882
44,244
44,847
45,612
42,593
43,056
43,106
44,294
43,249
43,685
43,637
44,793
43,216
43,491
43,919
44,554
!excess
NSA4
666
753
928
1,058
1986—JAR.
FEB.
HAS.
APR.
RAX
JURB
JUL!
AUG.
SEPT. P
45,881
46,370
46,865
47,275
48,577
49,445
50,489
51,318
51,804
45,111
45,486
46,104
46,383
47,701
48,642
49,748
50,446
50,796
45,608
45,978
46,622
47,017
48,285
49,172
50,126
50,911
51,366
44,771
45,272
45,968
46,474
47,739
48,514
49,579
50,579
51,078
51,773
51,772
50,662
50,791
51,254
51,360
51,931
51,029
51,567
Data
f
nonborrowad
nonborrowad plus
extended credit*
required
Monetary base'
!
TRO REEKS
ENDIRG
1986-SEPT.
OCT.
P
1/
10
24 P
8 PB
PRBLIBIRABI
PB—PRELIHIflABY ESTIMATE
RESERVES ARD BORBTARI BASE FIGURES IRCORPOBATB ADJUSTflBBTS FOB DISCORTIRUITXBS ASSOCIATED RXTtf THE IflPLBflERTATIOR OF THE
HORBTABI COBTBOL ACT ARD OTBBB REGULATORY CHARGBS TO RESERVE BEQOIBBBBRTS. TO ADJUST FOB DISCORTIRUXTIBS DUB TO CBABGBS IB
RESERVE BBQUIBBHBBTS OR RESBBVABJ.B BOBDEPOSIT LIABILITIES, TOE SOB OF SUCH REQUIRED RESERVES ABB SUBTRACTED FROB THE ACTUAL
SERIES. SIBILABLT, IB ADJUSTING FOR DISCORTIRUXTIBS IB THE BOBETARr BASE, REQUIRED CLBARIRG BALARCBS ARD ADJUSTflBBTS TO
COBPBRSATB FOB FLOAT ALSO ARE SUBTRACTED FROB TBB ACT0AL SERIES.
2/ TOTAL RESERVES ROT ADJUSTED FOB DISCORTIRUITIBS CORSISTS OF RESERVE BALARCBS RITB FBDBBAL RESERVE BARKS (RBICB BXCLDDB
REQUIRED CLEABIBG BALARCBS ARD ADJUSTflBBTS TO COBPBRSATB FOB FLOAT) PLUS VAULT CASH USBD TO SATISFY RESERVE REQUIRBRBRTS.
SUCH VAULT CASB COBSISTS OF ALL VAULT CASH HELD DUBIBG TBB LAGGED COAPOTATIOfl PBBIOD BY IflSTITOTIOBS HAVIRG BBQUIBBD BBSBBVB
BALABCES AT FBDBBAL BBSBBVB BABKS PLUS THE AflOURT OF VAULT CASB EQUAL TO BBQUIBBD RESERVES DURIBG THE OAIBTBRARCB PBBIOD AT
IflSTITOTIORS HAVIRG RO BBQUIBBD BBSBBVB BALABCES.
3/ BXTERDBD CBBDIT CORSISTS OF BORRORIRG AT THE DISCOUBT HIHDOfl ORDBB THE TBflflS ABD CORDITIORS ESTABLISHED FOB TBB EE1EBDED
CREDIT PROGRAA TO HELP DEPOSITORI IflSTITOTIOBS DEAL RITH SOSIAIRBD LIQUIDITY PRESSURES. BECAUSE THERE IS ROT TBB SAHB BBBD TO
REPAI SUCB BOBBOHIRG PROflPTLY AS THERE IS RITH TBADITIOBAL SHORT-TERR ADJUSTHERT CREDIT, THE BOBBY flARRET IflPACT OF EITEBDED
CREDIT IS SIMILAR TO THAT OFflOHBORfiOHBDRESERVES.
4/ BBSBBVB BALARCBS RITH FBDBBAL BBSBBVB BABKS PLUS VAULT CASB USBD TO SATISFI RESERVE REQOIRBflflflTS LESS BBQUIBBD RESERVES.
5/ THE BOIBTAflY BASB BOT ADJUSTED FOR DISCORTIRUITIBS CORSISTS OF TOTAL RESERVES PLUS BBQUIBBD CLBARIRG BALANCES ARD ADJUSTREETS
TO COBPBRSATB FOB FLOAT AT FBDBBAL BBSBBVB BABKS PLUS THE CUBBBBCY COHPOREBT OF THE HOREY STOCK LESS THE AflOOflT OF VAULT CASB
HOLDIRGS OF THRIFT IRSTITUTIORS THAT IS IRCLUDBD IR THE CUBBBBCY COHPOREBT OF THE HOIBY STOCK PLUS, FOB ZRSTITUTIORS ROT HAVIRG
REQUIRED RESERVB BALARCBS, THE EXCESS OF CORRERT VAULT CASH OVEB TBB AflOURT APPLIED TO SATISFY CORRERT RESERVE BBQUIRBBBRTS.
AFTER THE IRTRODOCTIOR OF CRR, CURRENCY ARD VAULT CASH FIGURES ARE HEASURED OVEB THB MONDAY-ENDING COflPUTATIOR PERIOD.
PRIOR TO CRR, ALL COHPOREBTS OF THB HOMETARY BASB OTHER THAB EXCESS RBSEBVBS ABE SEASORALLY ADJUSTED AS A WHOLE, RATHBB THAR
BI COflPOHERT, ARD EXCESS RESERVES IS ADDED OR A ROT SEASORALLY ADJUSTED BASIS. AFTER CRR, THE SEASORALLY ADJUSTED SEBIBS
CORSISTS OF SEASORALLY ADJUSTED TOTAL RESERVES (RHICH IRCLUDES EXCESS RESERVES OR A ROT SEASONALLY ADJUSTED BASIS) PLUS THE
SEASONALLY ADJUSTED CURRENCY COflPONERT OF THE MONEY STOCK PLUS THB REMAINING ITEMS SEASORALLY ADJUSTED AS A WHOLE.
ROTE: HISTORICAL DATA ARE AVAILABLE *BOH THE BANKING SECTION, DIVISION OF KESEA&CH AND STATISTICS, BOARD OF GOVERNORS OF THE
FEDERAL &LSEKVE SYSTEM. WASHINGTON. D.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 deity figures, not seasonally adjusted
Millions of dollars
Vault cash4
Reserves of depository institutions
Monetary
base*
Date
total
nonborrowed
Reserve balances
3
with F.R. Banks ./?
total
required
used to satisfy
required
surplus8'
Net carryover
of excess or
deficit
in reserve
balances T J
.:H|jj!!':H»!::::H;::::;!|il!nfnft
:HiN*:i{Hii*i:iMTiilijl:ii|hl:*li
Ills
5islltilllilllllilll||g||f«$|l|siflsi
reserves* i
2,990
2,686
2,460
2,434
2*559
3,010
2,528
BMili^^M
HPH^B
lijjMjliW
IfflflW
Willffli
Bliijippi
•
2,241
2,334
2,366
2,381
2*339
2,123
HI
M
H
H
Wilf^^
^ M | | | | m
1985—SEPT.
OCT,
NOT.
DEC
44,447
45,469
46,382
48,142
43,158
44,282
44,641
46,824
43,782
44,716
45,454
47,085
214,501
216,192
218,962
223,534
24,972
25,431
26,385
27,620
22,465
22,724
22,457
22,956
19,475
20,038
19,997
20,522
1986—JAN.
FEB.
HAB.
APB.
MAI
JUNE
JUL!
AUG.
SEPT. P
48,060
46,652
47,274
48,882
48,419
49,938
51,029
51,277
53,184
47,289
45,768
46,513
47,989
47,543
49,135
50,288
50,405
52,175
46,949
45,555
46,378
48,081
47,581
49,007
50,118
50,538
52,457
221,588
219,568
221,703
224,879
226,118
229,676
232,546
233,315
235,061
26,373
24,700
27,114
28,892
28,279
29,499
30,313
30,165
31,923
24,245
24,962
22,688
22,231
22,474
22,805
23,098
23,451
23,384
21,687
21,952
20,160
19,990
20,140
20,439
20,716
21,112.
21,261
52,061
53,673
50,950
52,692
51,268
52,965
234,482
235,308
31,527
32,107
22,671
23,623
20,534
21,566
2,137
2,057
150
30
53,914
53,013
53,256
235,451
32,153
24,015
21,761
2,254
92
TNO SEEKS
ENDING
1986—SEPT.
OCT.
10
24 P
8 PE
P
PBBLIMIMABI
PE—PBBLIHIBAHI ESTIMATE.
1/ BEFLECTS ACTUAL RESERVE HBQUIBEHENTS, INCLUDING THOSE ON NON0BPOSIT LIABILITIES, NITB NO ADJUSTMENTS TO ELIMINATE
THE EFFECTS OF DISCONTINUITIES ASSOCIATED WITH IMPLEMENTATION OF THE MONETARY CONTROL ACT OB OTHEB BB6ULAT0BT
CHANGES TO BESEBfE BEQUIBEHBHTS.
2/ CONSISTS OF TOTAL BESEBVES PLUS BEQUIBED CLEARING BALANCES AND ADJUSTHBNTS TO COflPENSATE FOB FLOAT AT FBOEBAL BESEBfE
BANKS PLOS THE CURRENCY COMPONENT OF THE HONEI STOCK LESS THE AHOUNT OF fAULT CASH HOLDINGS OF THBIFT INSTITUTIONS THAT
IS INCLUDED IN THE CUBBENCI COHPONSNT OF THE HONEY STOCK PLUS, FOB INSTITUTIONS NOT HAYING REQUIRED BESEBfE BALANCES, THE
EXCESS OF CURRENT fAULT CASH OYER THE AHOUNT APPLIED TO SATISFY CUBBBNT BESEBfE BEQUIBEHBHTS. AFTEB THE INTRODUCTION OF
CBB, CUBBENCI AND fAULT CASH FIGUBES ABE HEASUBED OYER THE MONDAY-ENDING COMPUTATION PERIOD.
3/ EXCLUDES REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO COMPENSATE FOB FLOAT.
4/ DATES REFER TO THE MAINTENANCE PERIODS IN NHICH THE YAULT CASH CAN BE USED TO SATISFY BESEBfE BBQOIBBHBNTS. UNDER
CONTEMPORANEOUS RESERVE REQUIREMENTS, MAINTENANCE PERIODS END SO DAYS AFTJBR THE LAGGED COMPUTATION PEBIODS
IN NHICH THE BALANCES ABE HELD.
5/ EQUAL TO ALL VAULT CASH HELD DURING THE LAGGED COMPUTATION PEBIOD BY INSTITUTIONS HAYING REQUIRED RESERVE BALANCES
AT FEDERAL BESEBfE BANKS PLUS THE AMOUNT OF VAULT CASH EQUAL TO BEQUIBED RESERVES DURING THE MAINTENANCE PEBIOD AT
INSTITUTIONS HAYING NO REQUIRED RESERVE BALANCES.
6/ TOTAL VAULT CASH AT INSTITUTIONS HAVING NO BEQUIBED RESERVE BALANCES LESS THE AMOUNT OF VAULT CASH EQUAL TO THBIB
BEQUIBED RESERVES DURING THE MAINTENANCE PERIOD.
7/ CONSISTS OF CARRYOVER ONLY AT DEPOSITORY INSTITUTIONS MAINTAINING RESERVES ON THE BASIS OF TWO-WEEK MAINTENANCE
PERIODS, BEFLECTS ElCfiSS (•) OR DEFICIT (-) RESERVES ELIGIBLE TO BE CARRIED FORWARD INTO THE TWO-WEEK RESERVE
MAINTENANCE PEBIOD ENDING ON THE DATE SHONN.
H.3 (502)
Table 3
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adjusted for changes in reserve requirements1
Averages of daily figures, not seasonally adjusted
Millions of dollars
Date
total
Reserves of depository institutions
nonborrowed
Monetary base
required
1985--SBPT.
OCT.
10? •
DEC.
43,676
44,207
45,082
46,839
42,388
43,020
43,341
45,520
43,011
43,454
44,154
45,781
212,157
213,357
216,038
220,362
1 9 8 6 — J AM.
FEB.
BAB.
APE.
BAT
JURE
JOLI
AUG.
SEPT. P
47,113
45,684
46,338
47,936
47,712
49,198
50,319
50,622
51,542
46,342
44,800
45,578
47,044
46,836
48,395
49,578
49,749
50,533
46,002
44,587
45,442
47,135
46,874
48,267
49,409
49,882
50,815
218,741
216,784
218,985
51,450
51,549
50,339
50,568
50,658
50,840
231,973
231,254
51,678
50,776
51,019
231,317
2220134
223,608
227,037
230,019
230,755
231,507
TRO REEKS
BRDIB6
1986—SEPT.
OCT.
10
24 P
8 P£
P
PBELXfiXBABY
PB--PHELXBXEABY ESTIHATE.
1/ FIGURES BBFLECT ADJOSTBEETS FOB DXSCORTIROXTIES ASSOCIATED HXTB THE XBPLEflEETATXOR OF THE flORETABY COMTBOL ACT
ARD OTHEB BEGULATOBY CHARGES TO BESEfifB BEQOXBEHEETS.
@FedFRASER