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FEDERAL RESERVE statistical release For Release at 4.30 Eastern Time H.3<5W) Table 1 OCTOBER 4, 1984 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE 1 Adjusted for changes in reserve requirements Averages of daily figures, seasonally adjusted unless noted otherwise Millions of dollars total1 Date Reserves of depository institutions nonborrowed plus required nonborrowed | extended credit' 34,569 35,059 35,668 34,772 35,715 35,286 3 5 , 6 4 4 3 5,727 35,388 35,274 35,280 35,650 35,441 35,443 35,654 180,698 182,353 183,439 184,555 185,570 Borrowings of depository institutions from the Federal Reserve , NSA total I seasonal extended credit' 1,546 491 798 1,441 190 515 844 142 256 906 121 6 774 96 2 613 942 7 09 490 577 767 607 684 187,555 189,380 189,504 190,438 192,065 193,946 194,841 196,072 715 567 952 1,234 2,988 3,300 5,924 8,017 86 103 133 139 196 264 308 346 4 5 27 44 37 1,873 5,008 7,043 37,225 38,061 37,525 635 699 677 194,373 196,421 195,825 7,155 7,987 8,146 340 338 360 6,098 6,976 7,184 37,691 37,595 646 487 196,218 195,754 7,755 7,110 309 328 7,001 6,369 1 9 8 3 — AUG, SEPT, OCT, NOV. DEC, 36,115 36,212 36,232 36,179 3b,215 1984—JAN, FEB. MAR. APB, HAY JUNE JULY AUG, 36,432 37,090 37,163 37,176 37,516 38,352 38,303 38,452 35,717 36,523 36,212 35,942 34,527 35,052 32,379 30,435 35,721 36,528 36,239 35,986 34,564 36,925 37,387 37,478 35,819 36,148 36,455 36,686 36,939 37,586 37,697 37,768 37,861 38,760 38,202 30,706 30,773 30,056 36,804 37,749 37,240 38,337 38,081 30,582 30,972 37,583 37,340 excess NSA4 446 498 505 529 561 Monetary base* TWO WEEKS ENDING 1984-AUG. SEPT, 1 15 29 12 26 P PE . 1 P PRELIMINARY PE—PBELIHIRABY ESTIMATE 1/ RESEBVES AID HOHETAHT BASE PIG0BES INCORPORATE ADJOSTBEHTS FOB DISCONTIN0ITIES ASSOCIATED tITH TBB IflPLBREBTATIOB OF TBE HONETARI COBTBOL ACT ABD OTHEB BEGOLATOBT CHANGES TO RESERVE REQUIBEHEHTS. TO ADJUST FOB DISCOBTIB0ITIES DUE TO CHABGES IB BESERVE REQOIREHEBTS ON RESBBTABLB BONDEPOSIT LIABILITIES, THE SUB OF SUCH BEQUIBED RESERVES ABB SUBTBACTED FBOH THE ACTUAL SERIES, SIHILAfiLY, IB ADJUSTING FOB DISCONTINUITIES IN THE MONETARY BASE, BEQOIBED CLEARING BALANCES ABD ADJUSTBEBTS TO COMPENSATE FOB FLOAT ALSO ARE SUBTRACTED FBOH THE ACTUAL SERIES, 2/ TOTAL RESERVES NOT ADJUSTED FOR DISCONTINUITIES CONSISTS OF RESEBVE BALANCES WITH FEDEBAL BESERtE BANKS (IHICB EXCLUDE BEQUIBED CLEARING BALANCES AND ADJUSTMENTS TO COMPENSATE FOB FLOAT) PLUS fAOLT CASH 0SED TO SATISFY BESEBfE BEQOIREHENTS, SUCH VAOLT CASH CONSISTS OF ALL VAOLT CASH HELD DURING THE LAGGED COMPUTATION PERIOD BY INSTITUTIONS BATING REQUIRED RESERVE BALANCES AT FEDEBAL RESERVE BANKS PLUS THE AMOUNT OF VAOLT CASH BQOAL TO BEQUIBED RBSEBVES DOBING THE BAINTENANCE PEBIOD AT INSTITUTIONS HAVING NO BEQOIBED RESEBVE BALANCES, 3/ EXTENDED CREDIT CONSISTS OF BORROWING AT THE DISCOUNT HINDO* ONDER THE TEBBS AND CONDITIONS ESTABLISBBD FOR THE EXTENDED CREDIT PROGRAM TO HELP DEPOSITORY IHSTITOTIOHS DEAL WITH SOSTAINBD LIQUIDITY PRESSURES, BECA0SB TBEBE IS HOT THE SAME HEED TO BEPAT SUCH BORROWING PROMPTLY AS THERE IS WITH TRADITIONAL SHORT-TERH ADJUSTBENT CREDIT, THE HONEY MARKET IMPACT OF EITENDED CREDIT IS SIMILAR TO THAT OF NONBOBROHED RESERVES, 4/ RESERVE BALANCES WITH FEDERAL RESERVE BANKS PLUS VAOLT CASH OSED TO SATISFY RESERVE REQOIREHEBTS LESS REQUIRED RESERVES. 5/ TBE MONETARY BASE NOT ADJUSTED FOB DISCONTINUITIES CONSISTS OF TOTAL RESERVES PLOS REQUIRED CLEARING BALANCES AND ADJOSTBEHTS TO COBPENSATE 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 HONEY STOCK PLUS, FOR INSTITUTIONS NOT HAVING REQUIRED RESERVE BALANCES, THE EXCESS OP 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 EASIS. 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 HONEY 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 CF GOVEBNORS OF THE FEDERAL RESERVE 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 requirements1 Averages of daily figures, not seasonally adjusted Millions of dollars Vault cash4 Reserves of depository institutions Monetary base2 Date total nonborrowed Reserve balances with F.R. BanksJ* required total used to satisfy required reserves5 surplus8 1 9 8 3 — AUG. SEPT* OCT* NOV. DEC. 38,661 37,916 38,137 38,144 38,894 37,114 36,475 37,294 37,239 38,120 38,214 37,418 37,633 37,615 38,333 185,398 185,112 186,598 188,971 192,359 21,965 20,585 21,059 20,943 20,986 20,035 20,798 20,471 20,558 20,755 16,695 17,331 17,078 17,201 17,908 3,340 3,467 3,393 3,356 2,847 1984—JAM. FEB* MAR. APR. HAY JUNE JULY AUG. 40,120 36,365 36,278 37,154 36,519 37,518 37,464 37,259 39,405 35,798 35,326 35,920 33,531 34,218 31,540 29,242 39,507 35,423 35,569 36,664 35,942 36,752 36,858 36,575 192,301 186,672 187,813 190,344 191,080 193,962 195,525 195,697 21,325 18,414 19,484 20,351 19,560 20,210 19,885 19,264 22,578 22,269 20,396 20,152 20,446 20,770 21,134 21,688 18,795 17,951 16,794 16,802 16,960 17,308 17,579' 17,995 3,782 4,318 3,602 3,349 3,486 3,461 3,555 3,694 Net carryover of excess or deficit In reserve balances7 TBO WEEKS ENDING •1984—AUG. SEPT. P 1 1 15 29 36,868 37,613 36,887 29,713 29,626 28,742 36,233 36,914 36,211 194,361 196,504 194,860 19,079 19,690 18,722 21.597 21,533 21,981 17,789 17,923 1 8 , 166 3,808 3,610 3,815 97 109 136 12 P 2 6 PE 37,576 38,254 29,821 31,144 36,930 37,767 196,570 195,845 20,171 20,053 20,782 21,522 17,405 18,201 3,377 3,321 157 83 PBELIfllHABY ,: 1H? }»' P E — PBELIBIBABT ESTIBATE. 1/ BEFLECTS ACTUAL BESEBTE BIQUIREBEMTS, INCLUDING THOSE OB BOBOEPOSIT LIABILITIES, BITB BO ADJUSTBENTS TO ELIBIMATE THE EFFECTS OF DISCONTINUITIES ASSOCIATED WITH IMPLEMENTATION OP THE HONETABT CONTROL ACT OB OTHEB BEGULATOBY CHABGES TO RESERVE REQUIREMENTS. 2/ CONSISTS OF TOTAL BBSEBfES PLUS BEQOIBED CLEARING BALABCBS ABD ADJUSTMENTS TO COMPENSATE FOB FLOAT AT FEDEBAL BESEBfE BAWKS PLUS THE COBBENCT COHPOBEBT OF THE HOHBI STOCK LESS THE AHOUBT OF VAULT CASH HOLDINGS OF THBIFT INSTITUTIONS THAT IS INCLUDED IB THE CUBBENCT COBPOBEBT OF THE HOBET STOCK PLUS, POB IBSTITUTIONS NOT HAVING BEQUIBED BESEBfE BALABCES, THE EXCESS OF CUBBEBT fAULT CASH OfEB THE ABOUNT APPLIED TO SATISFY CUBBEHT BESEBfE BBQUIBEBBNTS. AFTBB THE IBTBODOCTION OF CBB, CUBBEBCI ABD fAULT CASB FIGUBES ABE HEASOBED OfEB THE HOBDAY-ENDING COBPUTATIOB PEBIOD. 3/ EXCLODES BEQUIBED CLEABIBG BALABCBS AND ADJUSTBEBTS TO COMPENSATE FOB FLOAT. 4/ DATES REFER TO THE BAINTENABCE PBBIODS IN WHICH THE VAULT CASH CAN BE USED TO SATISFY BBSERVE BEQUIBEHEBTS. UBDEB CONTEMPORANEOUS BESERVE REQUIREHENTS, HAINTENANCE PERIODS END 30 DAYS AFTER THE LAGGED COMPUTATION PEBIODS IN BHICH THE BALABCES ABE HELD. 5/ EQUAL TO ALL VAULT CASH HELD DURING THE LAGGED COMPUTATION PEBIOD BI INSTITUTIONS HAVING REQUIRED RESERVE BALABCES 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. 6/ TOTAL VAULT CASH AT INSTITUTIONS HAVING NO REQUIRED RESERVE BALANCES LESS TBE AMOUNT OF VAULT CASB EQUAL TO THEIR BEQUIBED RESERVES DURING THE HAINTENANCE PERIOD. 7/ CONSISTS OP CARRYOVER ONLY AT DEPOSITORY INSTITUTIONS MAINTAINING RESERVES ON THE BASIS OF TWO-WEEK MAINTENANCE PERIODS. REFLECTS EXCESS (•) OR DEFICIT (-) RESERVES ELIGIBLE TC BE CARRIED FORWARD INTO THE TWO-WEEK RESERVE MAINTENANCE 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 requirements1 Averages of daily figures, not seasonally adjusted Millions of dollars __ total Reserves of depository institutions nonborrowed Monetary base required 1983—AUG SEPT* OCT. NOV. DEC. 35,595 35,901 36,219 36,275 36,936 34,049 34,461 35,375 35,370 36,162 35,149 35,404 35,714 35,746 36,375 180,711 181,815 183,265 185,645 188,843 1984—JAN. FEB, MAR. APR. MAY JUNE JULY AUG. 38,259 36,674 36,679 37,544 36,835 37,863 37,917 37,762 37,544 36,106 35,727 36,310 33,847 34,562 31,992 29,745 37,646 35,731 35,970 37,054 36,258 37,096 37,310 37,078 188,719 186,939 188,214 190,734 191,397 194,307 195,977 196,200 1 15 29 37,279 38,140 37,366 30,125 30,153 29,220 36,644 37,441 36,689 194,772 197,031 195,339 12 P 26 PE 38,122 37,660 30,367 30,551 37,476 37,174 197,116 195,252 THO HEEKS ENDING m.~—.—*-— ——m — 1984—AUG. SEPT. —— P PRELIMINARY PE—PRELIMINARY ESTIMATE. 1/ FIGURES REFLECT ADJUSTMENTS FOR DISCONTINUITIES ASSOCIATED HITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT AND OTHER REGULATORY CHANGES TO RESERVE REQUIREMENTS.
@FedFRASER