Full text of H.3 Aggregate Reserves of Depository Institutions and the Monetary Base : October 25, 1984

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RESERVE statistical release
For W i H e n at 4:30 Eastern Teas

H.3<S02)
Tablet

AQQREQATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE

OCTOBER

25, 1984

Adjusted for changes In rossrvs requirements'
Averages of dally figures, asssonatty sdjusted unlOM noted otherwise
Million* of dottars

Reserves of depository Institutions
Date

total*

nonborrowod

nonborrowed plus
extended credit'

required

I
Monetsry base* I

•XCOM
4

NSA

Sorrowings of depository Institutions
>. NSA
from ths Fsdsrsl ftsoorvi
extended credit*
total
I
seasonal

1983—SEPT.
OCT.
NOV.
DEC.

36,212
36,232
36,179
36,215

34,772
35,388
35,274
35,441

35,286
35,644
35,280
35,443

35,715
35,727
35,650
35,654

498
505
529
561

182,353
183,439
184,555
185,570

1.441
844
906
774

190
142
'121
96

1984—JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEPT.

36,432
37,090
37,163
37,176
37,516
38,352
38,303
38,451
38,167

35,717
36,523
36,212
35,942
34,527
35,052
32,379
30,434
30,925

35,721
36,528
36,239
35,986
34,564
36,925
37,387
37,477
37,384

35,819
36,148
36,455
36,686
36,939
37,586
37,697
37,768
37,543

613
942
709
490
577
767
607
683
624

187,555
189,380
189,504
190,438
192,065
193,946
194,841
196,072
196,022

715
567
952
1,234
2,988
3,300
5,924
8,017
7,242

86
103
133
139
196
264
308
346
319

12
26

38,324
38,099

30,569
30,989

37,570
37,358

37,690
37,572

634
527

196,205
195,712

7,755
7,110

309
328

10 P
24 PE

37,933
37,650

31,768
31,416

36,915
36,847

36,998
37,200

196,562
196,395

6,165
6,234

315
305

515
256
6
2
1

4
5

27
44
37

1 ,873
5,008
7,043
6,459

TWO WEEKS
ENDING
1984-SEPT.
OCT.

;

934
450

|

i

7,001
6,369
5,147
5,431

P~-PRELIMINARY
PE—PRELIMINARY ESTIMATE
1/ RESERVES AND MONETARY BASE FIGURES INCORPORATE ADJUSTMENTS FOR DISCONTINUITIES ASSOCIATED WITH THE IMPLEMENTATION OF THE
MONETARY CONTROL ACT AND OTHER REGULATORY CHANGES TO RESERVE REQUIREMENTS. TO ADJUST FOR DISCONTINUITIES DUE TO CHANGES IN
RESERVE REQUIREMENTS ON RESERVABLE NONDEPOSIT LIABILITIES, THE SUM OF SUCH REQUIRED RESERVES ARE SUBTRACTED FROM THE ACTUAL
SERIES. SIMILARLY, IN ADJUSTING FOR DISCONTINUITIES IN THE MONETARY BASE, REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO
COMPENSATE FOR FLOAT ALSO ARE SUBTRACTED FROM THE ACTUAL SERIES.
2/ TOTAL RESERVES NOT ADJUSTED FOR DISCONTINUITIES CONSISTS OF RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE
REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO COMPENSATE FOR FLOAT) PLUS VAULT CASH USED TO SATISFY RESERVE REQUIREMENTS.
SUCH VAULT CASH CONSISTS OF ALL VAULT CASH HELD DURING THE LAGGED COMPUTATION PERIOD BY INSTITUTIONS HAVING REQUIRED RESERVE
BALANCES AT FEDERAL RESERVE BANKS PLUS THE AMOUNT OF VAULT CASH EQUAL TO REQUIRED RESERVES DURING THE MAINTENANCE PERIOD AT
INSTITUTIONS HAVING NO REQUIRED RESERVE BALANCES.
3/ EXTENDED CREDIT CONSISTS OF BORROWING AT THE DISCOUNT WINDOW UNDER THE TERMS AND CONDITIONS ESTABLISHED FOR THE EXTENDED
CREDIT PROGRAM TO HELP DEPOSITORY INSTITUTIONS DEAL WITH SUSTAINED LIQUIDITY PRESSURES. BECAUSE THERE IS NOT THE SAME NEED TO
REPAY SUCH BORROWING PROMPTLY AS THERE IS WITH TRADITIONAL SHORT-TERM ADJUSTMENT CREDIT, THE MONEY MARKET IMPACT OF EXTENDED
CREDIT IS SIMILAR TO THAT OF NONBORROWED RESERVES.
4/ RESERVE BALANCES WITH FEDERAL RESERVE BANKS PLUS VAULT CASH USED TO SATISFY RESERVE REQUIREMENTS LESS REQUIRED RESERVES.
5/ THE MONETARY BASE NOT ADJUSTED FOR DISCONTINUITIES CONSISTS OF TOTAL RESERVES PLUS REQUIRED CLEARING BALANCES AND ADJUSTMENTS
TO COMPENSATE FOR FLOAT AT FEDERAL RESERVE BANKS PLUS THE CURRENCY COMPONENT OF THE MONEY STOCK LESS THE AMOUNT OF VAULT CASH
HOLDINGS OF THRIFT INSTITUTIONS THAT IS INCLUDED IN THE CURRENCY COMPONENT OF THE MONEY STOCK PLUS, FOR INSTITUTIONS NOT HAVING
REQUIRED RESERVE BALANCES, THE EXCESS OF CURRENT VAULT CASH OVER THE AMOUNT APPLIED TO SATISFY CURRENT RESERVE REQUIREMENTS.
AFTER THE INTRODUCTION OF CRR, CURRENCY AND VAULT CASH FIGURES ARE MEASURED OVER THE MONDAY-ENDING COMPUTATION PERIOD.
PRIOR TO CRR, ALL COMPONENTS OF THE MONETARY BASE OTHER THAN EXCESS RESERVES ARE SEASONALLY ADJUSTED AS A WHOLE, RATHER THAN
BY COMPONENT, AND EXCESS RESERVES IS ADDED ON A NOT SEASONALLY ADJUSTED BASIS. AFTER CRR, THE SEASONALLY ADJUSTED SERIES
CONSISTS OF SEASONALLY ADJUSTED TOTAL RESERVES (WHICH INCLUDES EXCESS RESERVES ON A NOT SEASONALLY ADJUSTED BASIS) PLUS THE
SEASONALLY ADJUSTED CURRENCY COMPONENT OF THE MONEY STOCK PLUS THE REMAINING ITEMS SEASONALLY ADJUSTED AS A WHOLE.
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. 20^51




H.3(502)
Table 2

AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Not'adjustedtorchanges in reserve requirement's?
Averages oTdatly figures, not seasonally adjusted
Millions of dollars
Vault cash4

Reserves of depository Institutions
Monetary
base2'

Date
total

nonborrowed

Reserve balances
with F.R. Banks*

required

total

used to satisfy
required
reserves9

Net carryover
of excess or
deficit
in reserve
balances7

surplus6

1983—SEPT.
OCT.
NOV.
DEC.

37,916
38,137
38,144
38,894

36,475
37,294
37,239
38,120

37,418
37,633
37,615
38,333

185,112
186,598
188,971
192,359

2©,585
21,059
20,943
20,986

2©,798
20,471
20,558
20,755

17,331
17.078
17,201
17,908

3,467
3,393
3,356
2,847

1984--JAN.
FEB.
HAR.
APR.
MAY
JUNE
JULY
AUG.
SEPT.

40,120
36,365
36,278
37,134
36,519
37,518
37,464
37,258
38,038

39,405
35,798
35,326
35,920
33,531
34,218
31,54©
29,241
30,796

39,507
35,423
35,569
36,664
35,942
36,752
36,858
36,575
37,414

192,301
186,672
187,813
190,344
191,08©
193,962
195,525
195,696
196,23©

21,325
18,414
19,484
20,351
19,56©
2©,210
19,885
19,263
20,141

22,578
22,269
20,396
20,152
20,446
20,77©
21,134
21,688
21,232

18,795
17,951
16,794
16,802
16,960
17,308
17,579
17,995*
17,897

3,782
4,318
3,602
3,349
3,486
3,461
3,555
3,694
3,336

12
26

37,563
38,27©

29,808
31,161

36,929
37,744

196,557
195,8©3

20,158
20,©38

2©,782
21,522

17,4©5
18,232

3,377
3,29©

157
67

10 P
24 PE

38,649
38,351

32,484
32,117

37,715
37,901

196,743
196,766

2©,451
19,614

21,571
22,329

18,198
18,737

3,373
3,591

192
27©

|

TUO UEEKS
ENDING
1984—SEPT.

OCT.

P
PRELIMINARY
PE—PRELIMINARY ESTIMATE.
1/ REFLECTS ACTUAL RESERVE REQUIREMENTS, INCLUDING THOSE ON NONDEPOSIT LIABILITIES, UITH NO ADJUSTMENTS TO ELIMINATE
THE EFFECTS OF DISCONTINUITIES ASSOCIATED UITH IMPLEMENTATION OF THE MONETARY CONTROL ACT OR OTHER REGULATORY
«incr% H C U U U H I U K T
2/ CHANGES TO RESERVE REQUIREMENTS.
CONSISTS OF TOTAL RESERVES PLUS REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO COMPENSATE FOR FLOAT AT FEDERAL RESERVE
BANKS PLUS THE CURRENCY COMPONENT OF THE MONEY STOCK LESS THE AMOUNT OF VAULT CASH HOLDINGS OF THRIFT INSTITUTIONS THAT
IS INCLUDED IN THE CURRENCY COMPONENT OF THE MONEY STOCK PLUS, FOR INSTITUTIONS NOT HAVING REQUIRED RESERVE BALANCES
THE
EXCESS OF CURRENT VAULT CASH OVER THE AMOUNT APPLIED TO SATISFY CURRENT RESERVE REQUIREMENTS.
AFTER THE INTRODUCTION OF
* * I K U » U U I I U * ur»
3/ CRR, CURRENCY AND VAULT CASH FIGURES ARE MEASURED OVER THE MONDAY-ENDING COMPUTATION PERIOD.
EXCLUDES REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO COMPENSATE FOR FLOAT.
4/
DATES REFER TO THE MAINTENANCE
PERIODS IN UHICH THE VAULT CASH CAN BE USED TO SATISFY RESERVE REQUIREMENTS.
UNDER
CONTEMPORANEOUS RESERVE REQUIREMENTS, MAINTENANCE PERIODS END 3© DAYS AFTER THE LAGGED COMPUTATION PERIODS
5/ IN UHICH THE BALANCES ARE HELD.
EQUAL TO ALL VAULT CASH HELD DURING THE LAGGED COMPUTATION PERIOD BY INSTITUTIONS HAVING REQUIRED RESERVE BALANCES
6/

SWKKiNFiB^^

7/

KfeTSi^*^^

™ «*»L T0 RE ° UIRE ° RE*ERVE* »UR1N< ™ H A I N T E N ^ E P I ^ S C I ?
RE5ERVE BALANC LE THE AM0UNT 0F V ULT CMH E

" "

*

™ L T0 THE1R

CONSISTS OF CARRYOVER ONLY AT DEPOSITORY INSTITUTIONS MAINTAINING RESERVES ON THE BASIS OF TUO-UEEK MAINTENANCE

PERIODS. REFLECTS EXCESS <•> OR DEFICIT <-) RESERVES ELIGIBLE TO BE CARRIED FORUARD INTO THE TUO-UEEK RESERVE
http://fraser.stlouisfed.org/
MAINTENANCE. PERIOD. ENDING ON. THE DATE. SHQUN.
Federal Reserve Bank of St. Louis

H.3 (602)
Table 3

AGGREGATE RESERVES OF 1DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adjusted for changes in reserve requirements
Averages of daily figures, not seasonally adjusted
Millions of dollars
Date
total

Reserves of depository institutions
nonborrowed

Monetary base
required

1983—SEPT.
OCT.
NOV.
DEC.

35,901
36,219
36,275
36,936

34,461
35,375
35,370
36,162

35,404
35,714
35,746
36,375

181,815
183,265
185,645
188,843

1984 — J A N .
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEPT.

38,259
36,674
36,679
37,544
36,835
37,863
37,917
37,761
37,905

37,544
36,106
35,727
36,310
33,847
34,562
31,992
29,744
30,663

37,646
35,731
35,970
37,054
36,258
37,096
37,310
37,078
37,280

188,719
186,939
188,214
190,734
191,397
194,307
195,977
196,199
196,097

12
26

38,109
37,678

30,354
30,568

37,475
37,151

197,103
195,210

10 P
24 PE

38,084
37,779

31,919
31,546

37,150
37,329

196,178
196,194

TWO UEEKS
ENDING
1984—SEPT.
OCT.

P
PRELIMINARY
P E — PRELIMINARY ESTIMATE.