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FEDERAL RESERVE statistical release For ......... 4:30 H.3(al T8ble1 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE a~~~a ~ Tlnle 21, 1988 Adjuated tor chengea In ,.qul-.rta' A-aoea of delly flO-. - l l y edjuated un.... noted otllerwiM Millions of dollDate tot•t• ....._ of dlpoaltory lnatltutlona requl..cl nonbonowed nonbonowed plua extended c..clll 1 of~ ln.tHutlona fn1m 1M Feder.. ....._, NSA 101.. extended c..clll' lllonvwlnga •xNSA' Monetary ~~~~-· 987--SBPt'. ocr. lOY. DEC. !;8,815 59,ll66 59,053 58,722 57,874 58,!;23 58,1128 57,91l4 58,283 58,973 58,822 58,428 58,021 58,3J8 58,129 57,693 193 1,129 923 1,029 253,0211 255,296 256,938 257,928 9ll0 9U 625 777 988--Jll. FEB. II lB. APR. 59,1J58 59,573 59,760 60,374 60,365 60,637 61,238 61,090 61,002 !;8,376 59,177 58,009 57,380 57,787 57,555 57,798 57,849 58,162 58, 71J8 59,382 59,1l87 60,001l 59,891l 60,108 60,336 60,502 60,221 58,163 58,1lll0 58,832 59,51§ 59,325 59,750 60,231 60,137 60,020 1,295 1,133 929 859 1,01l0 888 1,007 953 982 260,721 262,019 263,315 265,809 266,924 268,309 270,626 271,200 272,1J56 7 21 61,0811 61,012 57,991 58,0il2 60,Il13 60,117 59,961 60,229 1,123 183 5 19 p 60,922 61,048 !;8,11811 58,844 60,188 60,525 59,7.1l1 60,048 1,181 1,001 ur JUIB JULf AUG. SEPt'. -· ...., 231 189 126 93 1109 1,082 39ft 1,7S2 2,993 2,578 3,083 J,IJilO J,21J1 2,8J9 59 75 119 146 2116 311 37ft 423 IJ21 372 205 1,1J78 2,621l 2,107 . 2,!;51J 2,538 2,653 2,059 271,71J9 272,320 J,093 2,971 1132 1108 2,1182 2,075 273,218 273,501l 2,1U8 2,2011 1133 337 1, 704 1,681 3911 483 10 IBBitS BID.liiG -------1988-SBPT. ocr. ---P---PBBLlBIIlBt PB--PBBLIBIIABt BS!IIIA!I 1/ BBSBBYBS liD BOIBTlBt BASI FIGUBBS IICOIPOIATB lDJUSTBBifS FOB DISCOITIIUITIBS ASSOCIA!ID 111'8 1'81 IBPLBBBITlt'IOI or !81 BOIBTABY COITBOL ACt' liD Ot'HBB BBGULlTOBt CHliGBS TO IBSBIYI IBQUIBBBBirS. TO ADJUST fOB DlSCOITIIUit'IBS DUB 2'0 C8AIGIS 11 BBSBBYB BBQUIBBBBITS 01 BBSBBYABLB IOIDBPOSIT LilBILifiBS, 1'88 SUB or SUCH IBQUIBBD IBSBBYIS l&B SUBTI&Ct'BD FROB TRB ACt'UlL SBBIES. SIBILlBLt, II lDJUSt'IIG FOB DlSCOITIIUit'IBS II t'BB IOIIT&Rt BASI, IBQUIRBD CLBliiiG BlLliCBS liD lDJUSTBBit'S 1'0 COBPEISATB FOB FLOAT ALSO liB SUBTRACTED FROB THB ACTUAL SBBIBS. 2/ TOTAL BBSBBYBS lOT lDJUSt'BD FOB DISCOITIIOITIIS COISISTS or BBSIIYB BlLliCBS II!B FBDBilL BISBBYB BAIBS (IBICH BICLUDI RE~U!B~D CLEABIIG BlLAI~BS AID lDJUSTIIERTS TO ~OIIPEISATB lOB fLDlT) PLUS V!~LT ClSR US!D t'O SlT!SP! ~!!¥! I!QOIR!RB~TS. SUCH fAULT CASH CORSISTS OF ALL VAULT CASH HELD DURING THB LAGGED COIIPUTlTIDN PERIOD Bt IISTITUTIOIS HlYIIG IBQUlBBD BBSBIYB BlLARCHS AT FEDERAL BESERV~ BANKS PLUS THE lBOUIT OP YlULT CASH EQUAL TD BBUUIBBD RISIBYBS DURIIG 2'HB RliiTBiliCB PERIOD lt' INSTITUTIONS HAYIRG 10 REQUIRED BBSBBY~ BALAIC~~. l/ EXTENDED CRtDIT CONSISTS OF BORBOIII~ AT TH~ DISCOUIT iiNDOI UNDBI TRB TIBBS AID CDIDITIOIS ESTlBLISHBD FOB TBB BITBIDBD CHEUIT PBOGRlll TO HELP DEPOSITOBI INSTITUTIONS DEAL WITH SUSTAIIED LIQUIDITY PBISSURBS. BBC&USB t'HBIB IS NOT t'HI Slll IBID ro REPll SUCH BOBBDWIRG PBOIIPTLI AS THEBE IS WITH TBADITIOIAL SHOIT-TBBR ADJUSTIIERt' CREDit', t'HE BOREl lllBKBT liiPlCt' or BITBIDBD CREDIT IS SIIIILlB TO THAT OF ROIBOBBOWED REStBYBS. 4/ RESERVE BALANCES WITH PEDBRAL BESBBVB BARKS PLUS fAULT CASH USED TO SlTlSPt BBSBIYB RBQUIBIRBITS LESS BBQUIBBD BBSBIYBS. 5/ THE BOIETlRt BASE MDT AUJUSTED FOB DISCOMTlRU!TlBS CDJSISTS DP TOTAL RBSBIYES PLUS BBQUIBBD CLBABIN~ BALliCBS lRD lDJUSt'IIIITS TO COBP~NSATE PDB FLOAT AT FEDERAL BESEBYE BARKS PLUS THE CURRBICt COIIPOIBNT OF t'HB ROlli STOCK PLUS• PDB IISTZTUTIOIS lOT HAYIIG RB~Ulk~D R~SERVE BALAIC~S, THB EXCESS OF CUBR~IT VAULT CASH OYER THE AIIOURT APPLIED TO SATlSPI CUIBBit' BBSBBVB .REUUlBBIIENTS. APTER THE INTQOUU~TION OF CCH• CUBBEMCI AND fAULT CASH FIGURES &BE llllSUHBD OV~B t'RB ROND&I-EIDING CORPUTATIOI PBBIOD. THE SEASONlLLt ADJUSTED IIOIBTABt BASE CONSISt'S DF SBASOMALLt ADJUSrBD TOTAL B&SEBYB (WHICH liCLUDBS EICESS RESERVES ON A NOT SEASONALLY ADJUSTED bASIS) PLUS THE SEASONALLY ADJUSTED CURRENCt COIIPOIENr OP t'HB BOREl STOCK PLUS THE BERAIRIIG ITEIIS SEASONALLt ADJUSTED AS A WHOLE. MOTE: HISTOHlCAL DATA ABE AVAILABLE FROB THE RON~l liD BESEBYES PROJECTIONS SECTIOR, DIYISION OP IIONBTABI lPPliBS, BOARD Of GOVERNORS OF THE ~~D~RAL B~SERVE SYSTEII, WASHIRGTON, D.C. ~0551 .. H.3 (502) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Not adjusted for changes in reserve requirements Averages of daoiy figures, not seasonally ad)usied Millions of dollars Monetaory base~ Date total nonborrowed required 1987--SEP'.I:. O.C'.t. NOV. DEC. 59,613 b1,106 61,:.!05 &2,123 56,873 60,163 59,04!0 b0,~80 61,346 1988--JAH. b2,&40 b0,047 60,076 b2,064 60,661 b 1, 991 b2,756 61,9b5 62,159 7 21 5 19 p FEB. IIAL APR. II AI JUNE JULY AUG. SBP'.t. total required reserves•l surplus 36,685 37,249 37,1&53 37,673 24,854 25,51t7 25,431 26,155 l3,1.ltt 60,:.!112 b 1, 094 :.!55, b91 256,076 /.&1,&74 26&,1&1 24,449 1, 726 1,730 1,b79 1,706 &1,558 59,&50 58,324 59,071 58,103 58,908 59,316 58,724 59,320 b1,345 56,914 59,147 b1,J.05 59,&41 o1,103 b1,749 b1,01:l b 1, 178 2b!),789 J.bJ.,598 263,979 2b6,121 J.b8,899 27.!,b51l .!75,591 275,033 274,885 37,485 34,:.!11 36,027 38,429 36,509 37,907 31,992 36,911 37,215 26,919 28,119 25,926 25,200 25,873 25,717 26,479 26,895 26,7J.b 25,155 :.!5,831> l4,049 :.!3,b3b 24,172 :.!4,084 24,7bJ 25,051l .!4,945 1,7b4 2,:.!83 1,877 1,564 1,700 1,632 1,715 1,841 1,781 o1,8.!7 b2,679 58,734 59,708 i>0,705 61,89b .!7 4, 4o5 275,850 37.273 37,625 26,351 26,787 24,555 25,0311 1, 797 1,733 162 145 b1,611 «>2,1183 59,173 60,279 b0 1 1UO b1,483 213,710 J.17,J.21 36,532 36,710 26,924 27,612 25,079 :.!5, 173 1,845 1,8J9 47 135 5~,917 l3,8~1 :.!3,75~ TWO WEEKS END~IIIG --------1988--SEPT. OCT. P---PIBLIIIIllf PE--PIBLIKIIABI BSTI!lTI. 1/ BBPLBCTS ACTUAL BBSBBYB IIQUIBBBIITS, IICLOOIIG THOSE OJ IOIDEPOSIT LllBILITIIS, liTH 10 lDJOSTBBITS TO ILIAlllTI rBE .BPPICTS or DISCOITIIOU'IBS ASSOCIATED lllrB IIIPLBBIITUIOII or TBB IIOIEUit COITROL ACT 01 OTHU BBGUUTOII CHliGBS TO BBSEBJB RBQUIIBIIBITS. 2/ COISISTS or TOTlL BBSBBJBS PLUS IEQOIIID CLBliiJG BlLliCIS liD lDJUSTBIITS TO COIPIISlTI POl rLOlT lT PIDIIlL BISIIJI BAliS PLUS THE CUIBBICI COIPOIEIT or TBI IIONBI STOCI LBSS THB liOUIT or YlULT CASH BOLDliGS 01 THIIPT IISriTOTIOIS THlr IS IICLUDBD ~~ THB CUBI&ICI COBPOIBIT or fBI 80111 STOCI PLUS, lOB liSTITOTIOIS JOT RAJIIG IIQUIBEO BISBIJI BlLliCIS, raJ BICBSS or COIBBIT YlULT ~ASH OVER THB ABOOIT APPLIED TO SATISrl CUBIJJr IESIBJJ IBQOIBBIIBNTS. lPTBB THB IITIODOCTIOI OP CIB, CUBBBICI AID VlULT CASH riGOBES liB IIEASDIID OVER TBB BOIDAI-EIDIIIG COIPOTlTIOI PBilOD. 3/ BICLODBS IBQUIBBD CLBABIIG BlLAJCIS AID lOJUSTIEITS TO CO!PIISlTI POl FLOAT. . Q/ DATES BBIBI TO THB BAIITBIAICB PERIODS II IRICB THB YlULT CASH CAl BB USED TO SlTISrt IBSBRJI BBQUliiiiiTS. OIDIB COITBIPOiliBOOS B2SBBVB BEQOIBEIIITS, lliiTIIAIIICB PBBIODS BID 30 DAIS ArTBB THE LAGGED COIPOTATIOI PBBIODS II iHICH TBB BALliCES lBI HELD. 5/ EQUAL TO lLL YAOLT CASH HBLD DOBIIIIG THE LAGGID COIPUTATIOI PBIIOD Bl IISTITOT~OIS HAJIIG IBQUlRED BISBIJB BlLAICIS lT PEDBBAL BBSEBYB BAllS PLUS THK AIOUIT OF VAULT CASH EQUAL TO BEQUlBID RESIBYBS DURIIG THE BAliTBiliCB PERIOD lT IIIISI~TOXIOIS HAYIIIG 10 BIQUIBED RISBBVB BALliCES. i/ TOTAL VAULT ClSH AT llfSTlTUTIONS RAVING 10 BBUUlBBD RBSBIVB BALAJCBS LISS THI lllOOIT OP VAULT CASH BQUlL TO THEIR REQUliKD IBSBBVBS DUBliG THE IAIBTBIIIllfCE PBBIOO. 11 CONStSTS OF CABRIOVBB OlfLI lT DEPOSITORY IlfSTlTUTIOIIIS IAIIITAllllfG RESBBYBS 011 THB BASIS OP TIIO-IEII IIAIITBiliCI PERIODS. REFLECT~ EXCESS (•) OR DEFICIT (-) iBS~kV!S ELIGIBLE TO BE CARRIED FORWARD IIITO THE TIIO-IIEEK RESERVE ftAIBTENANCE PERIOD ENDING ON ThE DATE SHOWN. H.3 (502) Table 3 ·AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjusted for changes In reserve requlrements 1 Averages of dally figures, not seasonally adjusted Millions of dollars Date total Reserves of depository Institutions nonborrowed Monetary baH required 1987--SEPT. OCT. NOV. DEC. 58,512 59,073 59,136 60,023 57,571 58,130 58,511 59,245 57,718 57,9164 58,213 58,994 252,16115 .254,119 257,651 262,053 1988--Ju. 61,199 58,663 58,851 60,9117 59,454 60,679 61,467 60,591 60,661 60,117 58,267 57,099 57,954 56,876 57,596 57,350 57,821 59,904 57,530 57,9.22 60,088 58,414 59,791 60,460 59,638 59,679 .262,00o 259,010 .260, 71.2 265,001 .265,732 269,44.2 2n,411 271,734 271,578 21 60,410 61,171 57,J17 58,201 59,287 60,388 271,259 272,543 5 19 p 60,062 61,199 57,624 58,995 58,881 60,198 d3,979 · PBB. !lAB. lP&. !llJ' JUKE JULl lUG. SEPT. 5t~,o:a TiiO iiEEKS EHDIIG -----------1988--SEPT. 1 OCT. 210,324 P---PRELI!IlliARl PE--PRELI!IIIARY ESTI!IATE. 1/ FIGURES REFLECT ADJUS~!IEITS FOR DlSCOITINOITIES ASSOCIATED WITH THE I!IPLB!IEITATIOH OF !dE !IOHETAil COH!&OL lC! lHD OTHER iEGULlTOil CHA~GBS TO RESERVE iEQUliE!IBITS.
@FedFRASER