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FEDERAL RESERVE statistical releast l', ~-. ,,··, ·- H.3 (502) ·,··· .. '• ..'' Table 1 /~' AGGREGATE RESERVES AND MEMBER BANK DEPOSITS Avera required total Monetary base2 .· i •"(~" "'v' of dail fi u res Period For lqm;edia~ Release CCTOB:f!'i 21.;, 1980 total seasonally adjusted 451.1 187.0 188.1 189.8 190.0 191.5 12.2 13.3 15. 1 14.7 15.4 174.8 174.7 1711.7 175.3 176.1 2. 1 1.7 1.7 1. 9 1. 8 643.7 647.2 649.1 655.4 656.8 658.0 658.5 667.8 678.2 451.S 1154.11 457.9 464.2 1167.7 116 7. s 1167.0 474.2 1182.0 189.5 190.9 189.4 188.7 187.3 188.4 189.1 191.5 194.5 13.6 111.5 15.6 17.2 17.1 16.9 16. 6 111.4 15.9 176.0 176.11 173.9 111.5 170.2 . 171.5 172.5 177.1 178.6 2.3 1.9 1.8 2.4 1.8 1. 7 2.5 2.1 1. 8 159.5 158.6 159.4 159.9 673.2 680.0 679.1 676.9 1178.8 481.3 481.6 482.8 192.5 196.3 195.7 192.5 16.0 16. 1 15.3 15.0 176.5 180.3 180.4 177.5 1. 9 2.4 1.8 1.6 160.7 160.1 160.4 671.6 682.7 684.5 483.7 485.0 1186.8 192.11 195.1 194.7 15.6 15.9 15.5 116.9 179.2 179.2 1.5 2.7 3.0 1979--AUG. SEPT. OCT. NOV. DEC. 411110 ~01025 ~0,888 1~8.6 ~1~~29 42,199 43,057 43,567 40 I C89 40, 177 41,151 42,095 41,238 41,927 42,812 43,126 150.0 151.5 152.8 153.8 625.4 631.5 638.2 641.9 644.4 436.3 441.7 1146.6 1980--JAN. FEB. MAR. APR. 4314111 113,350 43,687 44,854 41111158 431982 42,795 40,757 411536 42,200 111,695 40,864 42,398 43,439 43,603 42,400 40,099 40,225 43,191 43,139 43,483 4111649 44,268 43,759 421514 40,450 41,272 154.7 155.6 156.7 157.9 158.5 159.0 158.8 158.2 159.5 p p p 41,528 41,136 41,354 111,801 401180 40,542 40,141 110,171 41,039 40,897 41,050 41,H7 1 p 8 p 41,912 411531 110,039 40,283 40,213 111,534 41,137 41,107 MAY p JUNE JULY AUG. SEFT. p p p ~50.1 UEK ENDING: --------- p 198Q--SEPT. 3 10 17 24 OC'l. 15 ~1.320 l> not seasonally ad usted 1979--AUG. SEPT. OC'l. NOV. DEC. 40,715 41,0511 421280 421997 44,020 39,630 391713 1101258 41,092 11215117 110,4911 1101862 112,007 42,753 113,578 148.4 149.11 151.3 153.5 156.3 620.11 629.1 637.8 642.2 652.6 1134.2 439.5 445. 7 449.2 1152.0 184.5 187.5 190.5 191.3 198.6 12.0 13.3 15.1 15.2 16.0 172.6 1711.2 175.4 176.2 182.6 1. 7 2.1 1. 6 1.7 2.0 1980--JAN. FEB. MAR. APR. 451119 !131 177 43,114 44,888 431975 43,1195 !12,873 40,382 41,182 113193 8 1111522 !10,291 1121433 !121957 43,115 112,478 39,7211 39,871 44,928 112,966 421910 1111,683 113,785 113,272 42,592 40,074 40,919 155.9 1511.0 1511.9 157.5 157.8 158.6 159.6 158.0 159.0 652.1 643.9 648.0 657.7 651.5 656.9 658.2 662.5 675.6 115!1.6 !155.8 !160.6 464.7 46 7. 7 467.4 466.0 471.8 479.6 195.!1 186.2 185.5 190.4 182.1 187.2 190.0 189.0 193.9 1 ll. 5 14.3 15. 2 16.8 16.2 16.6 16.8 111. 2 15.8 180.9 172.0 170.4 173.6 165.9 170.6 173.2 174.8 178.1 2. 1 1.8 1.9 2.6 1.7 2.3 2.2 1.7 2.1 39,751 391697 39,506 40,022 40,610 40,052 40,415 41,598 159.0 158.9 158.8 159.0 667.0 677.4 679.5 672.3 1176.3 JHB. 7 478.9 480.2 189.3 196.6 198.2 189.9 14.4 16.5 15.4 15.0 174.9 180.1 182.7 174.8 1.4 2. 1 2. 5 2.3 401384 391929 401065 1111879 401783 110,959 159.4 160.3 160.6 674.7 684.5 684.4 482.2 1184.5 485.8 190.7 197.3 196.2 15.4 16.5 14.9 175.3 180.8 181.3 1. 7 2.7 2.4 MAY JUNE p JULY p AUG. F SEFT. p WEEK ENDING: ----------1980--SEPT. 3 24 p 1111099 40,291 40,719 411652 1 p p p 112,257 111,177 1111172 10 p p 17 p OCT. a 15 See reverw sidt for .-pl81'111lion of footnotes. H.3 Table 2 AGGREGATE RESERVES AND MONETARY BASE Adjusted for changes in reserve requirements 3 Averaaes of dailv fiaures Member bank reserves Period non borrowed reauired total millions of dollars seasonally adjusted T Monetary base total !billions of dollars 1979--AUG. SEPT. OC'I. NOV. DEC. 38,414 38,696 39,289 39, Li39 LiO,Oll7 37,329 37,356 37,267 37, 53Li 38,575 38,192 38,505 39,017 39,195 39,606 145.9 147.3 148.6 149.2 150.2 1980--JAN. FEB. MAR. APR. MAY JUNE p JUlY p AUG. p SEPT. p 40,015 39,956 LIO, 084 40,132 40,128 Li0,101 40,191 40,730 41,507 3 8, 774 38,301 37,260 37,676 39,110 39.721 39,797 40,071 40,196 39,764 39,745 35,880 39,927 39,938 39,878 39,910 40,422 41,244 151.3 152.2 153.1 153.2 154.2 155.1 156.2 158.1 159.5 p 41,496 !11,105 !11,324 41,77!1 40,148 !10,511 LiO, 111 Li0,144 Li1,007 40,866 Li1,020 41,720 159.4 158.6 159.3 159.9 1 p 8 p 15 p 41,887 Li1,505 41,295 40,014 Li0,257 40,188 41,509 41,111 41,082 160.7 160.1 160.Li Member bank reserves non borrowed reau1red millions of dollars not seasonally adjusted 1 Monetary base billions of dollars 145.7 1Li6.7 148.Li 38,037 38,337 39,376 39,388 Li 0, 490 36,9 51 36,996 37,354 37,Li83 39.017 37,815 38,1Li5 39,10 Li 39,1 Lill LIO, 0Li8 '~~~:~ 41,715 40,4 7Li 38,106 36,6 77 37,700 38,649 39,239 39.8 86 39.696 39,842 41,464 39,550 39,296 39. 9 51 39,Li78 39,395 40,000 110,0116 Li0,890 152.5 150.5 151.3 152.8 153.5 154.7 157.0 158.0 158.9 41,067 40,260 Li0,689 !11,625 39,719 39,666 40,578 39,995 !10,385 41,571 159.0 158.8 158.8 158.9 42,233 41,151 41,1Li7 40,360 39,903 40,0Li0 41,855 110,757 40,934 159.3 160.2 160.6 3 9, 761 39,500 40,15'5 39,667 39,618 40,281 40,35Li Li1,154 WEEK ENDING: -----------198D--SEP'I. 3 p 10 p 11 p 24 OC'I. 39,LI16 Li0~021 P - PRELIMINARY 1/ MEMBER EANK RESERVES SERIES REFLECT ACTUAL RESERVE REQUIREMENT PERCENTAGES WITH NO AtJUSTMENT TO ELIMINATE !HE EFFECT OF CHANGES IN REGULATIONS D AND M. EFFECTIVE OCTOBER 11, 1979, AN 8 PERCENTAGE POINl MARGINAL FESEEVE REQUIR~EN'I WAS IMPOSED CN "MANAGED LIABILI'IIES". ON OCTOBER 25, 1979, RESERVES OF EDGE ACT CCRPORATIONS WERE INCL~DED IN MEMBER BANK RESERVES. THIS ACTIOK RAISED REQUIRED RESERVES $318 MILLION. EFFECTIVE MARCH 12, 1980, THE 8 PERCENTAGE POINT MARGINAL RESERVE REQUIREMENT WAS RAISED TO 10 PERCENTAGE 20IN'IS. IN ADDI'IION THE BASE UPON WHICH THE MARGINAL RESERVE REQUIREMENT IS CALCULATED WAS REDUCED. THIS ACTION INCREASED REQUIRED RESERVES ABOUT $1,693 MILLION IN THE WEEK ENDING APRIL 2, 1980. EFFECTIVE MAY 29, 1980, ~HE MARGINAL RESERVE REQUIREMENT WAS REDUCED FROM 10 'IO 5 PERCENTAGE POINTS AND THE EASE UPCN WHICH THE MARGINAl RESERVE REQUIREMENT IS CALCULATED WAS RAISED. THIS ACTION REDUCED REQUIRED RESERVES ABOUT $980 MILLION IN THE WEEK ENDING JUNE 18, 1980. EFFECTIVE JULY 24, 1980 'IHE 5 PERCENT MARGINAL RESERVE REQUIREMENT CN MANAGED LIABILI'IIES AND THE 2 PERCENT SUPPLEMENTARY RESERVE REQUIREMENT AGAINS1 LARGE TIME DEPOSITS WERE REMOVED. THESE ACTIONS REDUCED REQU~RED RESERVES ABOUT $3.2 BILLION. 2/ INCLUDES TOTAL RESERVES (MEMBER BANK RESERVE EALANCES IN THE CURRENT WEEK PLUS VAULT CASH HELD !WC WEEKS EARLIER); CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS AND THE VAULTS OF COMMERCIAL BANKS; AND VAUlT CASH OF NCNMEMBER BANKS. 3/ RESERVE AGGREGATES SERIES HAVE BEEN ADJUS'IED TO REMOVE DISCONTINUITIES ASSOCIATED WI'IH MARGINAL RESERVE REQU!REMEN'IS, THE INCLUSIONS CF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES Ill REGULATIONS D, K, AND M. HISTORICAL DATA AND A DESCRIPTION OF THE ADJUSTMENT PROCEDURE ARE AVAILABLE FROM THE BANKING SECTION, DIVISION OF RESEARCH AND STATISTICS, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, WASHINGTON, D.C. 20551.