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FEDERAL RESERVE statistical release For Aeleeoe at 4:30 Eutem Time H.3 (1102) Teble1 OCTOBER AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE. 29, 1987 Adfuatecl tor chengea In Nqul.--ta' A-eon of dally flgUIH, - l l y adfuatad unleee notad otherwiM Mllllona of doll. . lleMfVM of clapoeltory lnatltutlona o.te totet nonborrowad nonborrowad plua extended cradlt' requlrad exce• NSA• Monet•ry baM1 Borrowings of depository Institutions from the Feder•l ReMove, NSA extended cradlt totel aauon•l 821 137 99 70 38 570 497 418 303 242,4.31 243,9711 2411,51>3 246,5116 248,3H 248,481 249,457 250,798 251,854 580 55& 5..!7 993 1,035 716 &72 &117 9"0 .lll 71 91 120 191> 259 28.3 279 231 225 283 2611 270 288 273 194 132 409 1,194 515 251,261 251,812 6117 1,001 241 226 173 531 81l0 1,015 252,702 253,1l23 1,195 1,007 230 18.3 469 1182 52,.30..! !1.3,225 51l,ll89 5&,166 !> 1,294 52,.384 5.3,737 55,340 !>1,8&1l !>..!,8111 51l,155 55,643 51,576 52,479 53,511 51l, 798 726 746 978 1,369 232,281 2.lll,ll.26 236,875 239,513 1,0118 81l1 752 56,884 56,873 5&,852 57,954 58,352 57,706 57,&02 57 •.876 57,828 56,.304 56,317 5&,.325 56,961 57,317 56,930 5&,929 57,229 5&,888 5&,529 56,6110 5&,589 57,2.31 57,&04 57,2113 S7,121l 57,360 57,297 55,816 55,662 55,936 57,127 57,27.3 51>,516 56,841 56, 81lll 57, Ol.l 1,068 1,211 916 827 1,079 1,190 761 1,032 795 23 58,069 57,&47 57,422 56,646 57,595 57,177 56,875 57,132 7 p 21 P& 57,881 58,054 56,&86 57,048 57,151l 57,5.30 57,0ilQ 57,040 198&--SEPT. ocr. NOY. DEC. 1987--Jll. PEL !IlL APL Ill I JUIB JULI lUG. SEPT. p TliO IIEEKS EliDING --------19117-SEPT. ocr. 9 P---PB&LIKIHlBY PE--PBELiftiiABI &STiftlTE 1/ BBSEBYES AID ftOIETABY BASE FIGURES INCORPORATE lDJUSTftENTS FOB DISCONTIHUITIBS ASSOCIATED WITH THE IftPLEftEHTlTIOI OF THE ftOIIETABI CONTROL lCT liD OTHER REGULATOR! CHAIGES TO RESERVE BBQUIBEftEITS. TO ADJUST FOB DISCOHTIIUITIBS DUE TO CHARGES II RESERVE BEQUIBEftEITS ON RESERVlBLE IOIDEPOSIT LIABILITIES, THE SOft OF SUCH REQUIRED B&SERYBS ABE SUBTRACTED PROft THE ACTUAL SERIES. SiftiLlRLI, II ADJUSTING FOB DISCONTIIUITIBS II THE ftOIETABY BASE, IEQULRED CLElBIIIG BALliiCBS AND lDJUSTftENTS TO COftPEIISATE FOB FLOAT ALSO IRE SUBTRACTED FROft THE ACTUAL SERIES. 2/ TOTAL RESERVES BOT ADJUSTED FOB DISCONTINUITI~S CONSISTS OF BESEBYE BALANCES WITH PBDBBAL RESERVE BilKS (WHICH EXCLUDE REUUIMED CLEARING BALANCES liD lDJUSTBENTS TO COBPEHSlTE FOB FLOAT) PLUS VAULT CASH USED TO SATISFI RESERVE BEQUIBEBEITS. SUCH YlULT CASH COHSISTS OF ILL VAULT CASH HELD DURING THE LAGGED COftPUTlTION PERIOD BY IHSTITUT~O•s HIVING REQUIRED RESERVE BlLAICBS AT FEDERAL RESERVE BilKS PLUS THE AftUUHT OF VAULT CASH EQUAL TO REQUIRED RESERVES DUMIIG THE ftliNTEBliCE PERIOD IT INSTITUTIOIS HAYING 10 REQUIRED RESERVE BALliCES. 3/ ElTENDBD CREDIT CONSISTS OF BORROWING AT THE DISCOUNT KilDOW ORDER THE TKBftS AID COIDITIONS ESTABLISHED FOB THE EXTENDED CREDIT PROGBAft TO HELP DEPOSITOR! INSTITUTIOIS DElL WITH SUSTAIHED LIQUIDITI PRESSURES. BECAUSE THEBE IS NOT THE SlftE NEED TO REPAY SUCH BORROWIHG PROftPTLI IS THEBE IS WITH TiADITIOIAL SHOBT-TERft ADJUSTftENT CREDIT, THE ftOHEI BARKET IftPACT OP EXTENDED CR~DIT IS SI~ILAB TO THAT OF 80NBOBBOWBD RESERVES. Ill RESERVE BAL~N~~S WITH FEDERAL RESERVE BANKS PLUS VAULT CASU USED TO SATISFY RESEliE. REQUIBEftENTS LESS REQUIRED BESEBYES. !>I tiiA ftUIIJ::TABI BASE NOT ADJUSTED FOR DISCONTINUlTlBS CONSISTS UP TOTAL IIESEBVES PLUS RBQUIIIED CLIAIIIICi"BALAICBS,iliD.•~DoJU.S.TftE.'l'S TO COftPENSlTt: FOB FLOAT AT FEDERAL RESERVE tiAIKS PLUS THE CURRENCY COIIPOIEIT OF THE ftOIBI •STOI!I LESS' THB lftUUIT OP ··f'.lULT CASH UOLDIIGS OF THRIFT INSTITUTIONS THAT IS INCLUDED IN THE CURBEBCI COftPOIEIT OF THE ftOIEI STOCK PLUS, FOR INSTITUTIONS HOT HAYIIG BEQUIBED RESERVE BALAHCES, THE ElCKSS OP CURRENT VAULT CASH OVER THE AftOUHT APPL~ED TO SlTISFI CURRENT RESERVE REQUIREftENTS. APTER THE IITRODUCTlUN OF CRR, CURRENCY AID VAULT CASH PIGUBAS ABE ftEASUBED OVER THE ftONDli-ENDING CONPUTATION PER~OD. PRIOR TO CBR, ALL COftPOIENTS OF THE ftONETARI dASE OTHER THAN EXCESS RESERVES ARE SEASONALLJ ADJUSTED AS l WHOLE, RATHER T~AI BY COftPORENT, AhD t;J(I.:ESS RESERVES lS AO!Jf.D ON A NOT SEASONALLY ADJUSTED BASIS. APTER Cl<ll, THE SEASONALLJ ADJUSTED SERIES CONSISTS OF SEASONALU AiJJUSTED "fOTAL IIESEilVHS (WHlt:H INCLUDES EXCESS RESERVES ON A NOT SEASONALLl &DJUSrED BASIS! PLUS THE SEASONALLl AIJJUSTt:o CUiikENCY COfti!ONENT OF THE ftON.IiY STOCK PLUS THE liEI'IAINlNG lTEftS SRASOiiAL.&.l AOJUS"fEO AS A WHOLE. NOTE: HISTOIUCAL IJATA Allt:; AVAILABLE FROft TilE BANKING SECTION, DIVISION OP RESEARCH AND STATlSl'lCS, llOARO OF I>OYERNORS OF THE FEDEilAL BESEBVE SlSTEI'I, WASHINGTON, D.C. L0~51 H.3 (502) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE . I 1 Not adjusted for. changes In rel!!rve reqwre'!.'.e_n_§, , Averages of daily figures, _not seasonal!~ adjusted, Millions of dollars Monetary base' Date total nonborrowed required surplus•: reserves 5 ~ 31,360 23,38 .. 23,753 23,51l.l 211,071 21,2o 7 21,o76 21, 5~5 2..!, 19~ 2,111 2,078 1, 9117 1,872 2116,752 2114,220 244,978 249,21l1 21l9,91l0 252,539 2511,671 25ll,3&0 255,693 .l6, 581l 33,625 35,318 37,807 36,ll6& 36,309 36,110 3 5, &16 36,687 25,049 25,889 23,759 23,353 23,693 2ll,380 24,631 24,649 21l,860 23,0ttll 2J,4J5 21,743 21,5117 21,87J 22,1175 u .• 728 22,7115 2J,129 1,965 2,454 2,016 1,767 1, 820 1,905 1,903 1,904 1, 731 57,51l6 59,825 2511,b71 256,349 36,294 36,866 24,288 25,146 22,41lC» 23,475 1, 8ll2 1,672 207 59,310 60,0711 255,696 251:1,381 36,833 36,681 25,026 26,183 23,317 211,411 1, 709 1, 772 111 49 5l,lloJ 235,067 237,257 2111,2&7 311,803 21l1,101 58,600 5.!),849 56,146 58,5oo 57,260 .57,5911 58,0711 57,329 59,0..11 58,093 59,339 58,955 60,086 53,189 511,623 56,399 59,5()0 52,180 53,782 55,6117 58,133 55,11..!1 5tt,191 1987--JAI. 59,668 57,060 57,061 59,393 58,339 58,784 58,838 58,361 59,816 59,088 56,503 56,534 58,1100 57,303 58,008 58,1&6 57,711l 58,876 58,1110 t>0,3ll0 60,150 61,092 BAL APL lUI JUIE JULY AUG. SEPT. p total required 1986--SEPT. OCT. NOV. DEC. FBB. Reserve balances with F.A. Banks' ~3,877 31,922 32,9111 TIIO IIEEKS ENDIIIG --------1987--SBPT. ocr. 9 23 1 p 21 PB P---PULI!IIIARY PB--PRELIBIIARY ESTI!IATE. 1/ BEFLBCTS ACTUAL RESERVE REQUIREftEITS, INCLUDING THOSE 01 IOBDEPOSIT LIABILITIES, IIITH BO ADJOST!IEBTS TO ELIBINATE THE EFFECTS OF DISCOIITINUITIES ASSOCIATED liiTd IBPLE!IEITATION OF THE ftOIETARI COIITROL ACT OR OTHER REGULATOR! CHAIGES TO RESERVE RBQOIBBftEIITS. 2/ CONSISTS OF TOTAL RESERVES PLUS REQUIRED CLEARING BALANCES AND ADJUSTftEITS TO COftPENSATE FOR FLOAT AT FEDERAL RESERVE BANKS PLUS THE CURREIICI COftPONEIT OF THE liONEl STOCK LESS THE AliOUNT OF VAULT CASH HOLDIIGS 9P T~~~T INSTITUTIONS THAT IS IICLUDED II THE CURRBIICY CO!IPONENT OF THE liONEl STOCK PLUS, FOR INSTITUT.IONJi }IJP~ ,!flJ(liiG: R.BQUUI!D 1 RBS!!IIYB BALUCBS, THE EXCESS OF CURREIIT fAULT CASH OYER THE AIIODNT APPLIED TO SATISFI CURRENT RESER1Jit RBQ~~R811f11~.S. AjF~· I'HB IIITRODUCTIOI OF CRR, CURREIICI AIID JAULT CASH FIGURES ABE ftEASURKD OYER THE !IONDAY-ENDIIIG COIIP~TATION PBs OD. l/ BICLODBS REQUIRED CLEARING BALAIICBS AND ADJUSTftEIITS TO CO!IPENSATE FOR FLOAT: 4/ DATES REFER TO THE !IAINTEIIANCE PERIODS IN WHI~H THE VAULT CASH CAN BE USED TO SATISFI RESERVE RBQOIRBftBNTS. UIIDER COHTBftPORANEOUS RESERVE REQUIHEftBNTS, ftAINTKNAN~E PERIODS END JO DAYS AFTER THE LAGGED CO!IPUTATION PERIODS Ill WHICH THE BALANCES ARB HELD. §I EQUAL TO ALL VAULT CASH HELD DURING THE LAGGED ~O!IPUTATION PERIOD BY INSTITUTIONS HAYING II. EUUIBE~R-SKRYB BALANCES AT FEDERAL BBSBB1JB BANKS PLUS THE A!IOUNT OF 1JAULT CASH E~UAL TO REQUIRED U:SER~ij!S f~~~fl~ ,TK·E IIA} TqANCE PERIOD AT IIISTITUTIOIIS HAYING NO REQUIRED RESERVE BAJ.AIICES. ~ ~- • . . · _; ,• · •· 6/ TOTAL YAULT CASH AT INSTITUTIONS HAVING NO RE~UIBED RESERVE BALANCES LESS THE AftOUNT OF VAULT CASH EQUAL TO THEIR REQUIRED RESERVES DURING THE ftAINTENANCE PERIOD. 11 CO.SISTS OF CARRYOVER ONLY AT DEPOSITORY INSTITUTIONS ftAINTAINING RESERVES ON THE BASIS OF TWO-WEEK ftAIIITENANCE PERIODS. REFLECTS EXCESS (•) OR DEFICIT (-) R~SERVES ELIGIBLE TO BE CARRIED FORWARD INTO THE TWo-WEEK MESERVE !IAINTI!Nl!li.:E PERIOD KHDING ON Tl": DA'l E SHO~N. 111l H.3 (502) Table 3 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjusted for changes in reserve requirements 1 Averages of daily figures, not seasonally adjusted Millions of dollars Date Reserves of depository institutions non borrowed total Monetary base required 1986--SEPT. OCT. NOV. DEC. 52,019 52,826 54,591 57,o36 51,011 51,98ij 53,840 5o,809 51,293 52,080 53,6141 5o,2o7 :.!3:.!,068 .!JJ,605 231,491 1987--JAN. FEB. IUR. APR. KAY JUNE JUU AUG. SEPT. 5tl,731 56,088 5o,068 58,372 57,299 57,625 57,743 57,390 57,499 58,151 55,532 55,541 57,379 56,2o4 56, t1ij9 57,071 56,7413 5b,559 51,bb3 54,877 55,152 57,544 5b,221 56,435 56,983 56,J5tl 56,7046 24&J,422 2ij0,817 Jq1,92S :.!4o,066 .<1416,831 l419,28b .!51,"2" 251,420 .!51,ooo 57,o51 57,529 57,004 56,5:.!8 56,457 57,014 .!51,o"1 251,87!:1 57,242 51:l,059 5b,047 5 7,05.! So, 401 57,044 :.!51,013 25J, b 7:.! p .!~&J,oJO TIIO IIEEKS &:NDING ------------1987--SEPT. 9 23 OCT. 7 p 21 PE ------ - - - - ------------- -- P--- Pd J:;J.lltl NA BY ESTIKATE. FlGUJH!S REFLECT ADJUSTittNTS FOil DISCON'l'INUI'l'I.t.S A::>SOCI.A'l'tD WITH THE IKPLEKJ::NTATION OF TdE ltONJ:.:T.UII CONTROL ACT AND OTHER REGULATORY CHANGES TO RESERVE REUUlhEitENTS. PE--PRELI~l~ABY 1/
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