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FEDERAL RESERVE statistical release H.3 (502) For Immediate Release Table 1 ~~PTEMBER 15, 1980 AGGREGATE RESERVES AND MEMBER BANK DEPOSITS Aw~ of dailv fi1111res Member bank reservesT Period total }onborrowef required Monetary base2 total millions of dollars I eoosits sub'ect to reserve reau1rements private demand deposits time and I other savings total net [ interbank billions of dollars I I lT u.s. government demand seasona II y adusted J 1979--AUG. SEPT. OCT. NOV. ~J1,110 41,429 42,199 43,057 43,567 40,025 40,089 40, 177 41,151 42,095 40,888 41,238 41,927 42,812 43,126 148.6 150.0 151.5 152.9 153.8 625.4 631.5 638.2 641.9 61111.4 436.3 441.7 446.6 450. 1 451.1 187.0 188.1 189.8 190.0 191.5 12.2 13.3 15.1 14.7 15.4 114.8 174.7 174.7 176.1 2. 1 1.7 1.7 1.9 1.8 43,441 43,350 113,687 44,854 44,458 43,982 42,795 40,764 42,200 IJ1,695 40,864 42,398 43,439 43,·i03 42,400 40,106 43,191 43,139 43,483 44,649 44,268 43,759 42,514 40,452 154.7 155.6 156.7 157.9 1'i8. 5 159.0 158.8 158. 1 643.7 647.2 649.1 655.4 656.8 658.0 658.5 668.4 451.9 454.4 457. 9 464.2 IJ6 7. 7 467. 9 467.0 474.2 189.5 190.9 189.4 188.7 187.3 188.4 189.1 192.1 13.6 14.5 15.6 11.2 17.1 16. 9 16.6 14.8 176.0 176.4 173.9 171.5 170.2 171.5 172.5 177.4 2.3 1.9 1.8 2.4 1.8 1. 7 2.5 2.1 13 p 20 p 27 p 40,728 39,905 41,103 40,880 39,900 39,515 40,759 40,180 40,040 39,816 40,766 40,791 157.8 156.9 158.2 158.5 662.7 666.0 672.0 671.7 467.5 471.2 476.7 477.7 193.0 192.9 192.8 192.3 15.9 15.2 14.2 14.8 177.1 117.7 178.6 177.5 2.2 2.0 2.5 1.7 SEPT. 3 p 41,528 40,180 41,039 159.5 673.3 478. 9 192.6 16.3 176.3 1.9 40,715 41,054 42,280 42,997 1111,020 39,630 39,713 110,258 41,092 42,547 40,494 110,862 42,007 42,753 43,578 148.4 149.4 151.3 153.5 156.3 620.4 629.1 637.8 642.2 652.6 434.2 439.5 445.7 449.2 452.0 184.5 187.5 190.5 191.3 198.6 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 1\5,179 43,177 43,114 44,888 . 43,975 43,495 42,873 40,389 43,938 41,522 40,291 112,433 42,957 43,115 112,478 39,731 1\4,928 42,966 42,910 44,683 43,785 43,272 42,592 40,076 155.9 154.0 154.9 157.5 157 .a 158.6 159.6 158.0 652.1 643.9 6118.0 657.7 651.5 656.9 65B.2 663.2 454.6 455.8 IJ60. 6 464.7 467.7 46 7.11 466.0 471.8 195.4 186.2 185.5 190.4 182.1 187.2 190.0 189.6 1 II. 5 14.3 15.2 16.8 16.2 16.6 16.8 14.5 180.9 172.0 170.11 173.6 165.9 170.6 173.2 175.0 2. 1 1.8 1.9 2.6 1.7 2.3 2.2 1.8 13 p 20 p 27 p 40,1142 39,400 40,932 40,382 39,614 39,010 40,588 39,682 39,751J 39,311 40,597 40,293 158.3 157.11 158.4 157.2 660.5 661.0 667.0 663.8 465.8 468.9 474.0 475.1 192.6 190.6 190.8 187.2 16.4 14.9 14~ 0 14.5. 176.3 175.7 176.8 172.7 2.1 1. 4 2.3 1.5 SEPT. 3 p 41,099 39,751 110,610 159.0 667.1 476.11 189.3 1 II. 6 174.7 1. II DEC. 198 o--J n. FEB. MAR. APR. !U'! JUNE p JULY p AUG. p 175.3 WEEK ENDING: -------198D--AOG. 6 ? not seasonaII v a dJusted 1979--AUG. SEPT. OC7. NOV. DEC. 1980--J All. FEB. MAR. APE. IU'! JUNE 1' JULY p AUG. p WEEK ENDING: ------1980--AOG. 6 p See reverse side for explanation of footnotes. H.3 Table 2 AGGREGATE RESERVES AND MONETARY BASE Adjusted for changes in reserve requirements 3 Averaaes of dailv figures Member bank reserves reauired total I nonborrowed I Period millions of dollars seasonally adjusted I Monetary base total billions of dollars Member bank reserves reQI.Ired I nonborrowed millions of dollars not seasonally adjusted J Monetary base l billions of dollars 1979--II.UG. SEPT• OC'I. NOV. DEC. 3e,414 38,696 39,289 39,439 40,047 37,329 -.-31-,3-56 37,267 37,534 38,575 38,192 38,505 39,017 39,195 39,606 145.9 147.3 148.6 149.2 150.2 38,037 38,337 39,376 39,388 40,490 36,951 36,996 37,354 37,483 39.017 38, 145 39,104 39,144 40,0!18 145.7 146.7 148.4 149.9 152.8 1980--JA!I. FEB. 40,015 39,956 !10,084 40,132 40,128 110,101 40,191'10,736 38,174 38,301 37,260 37,676 39,1_:1Q,. 39, 12,1. 39, 'l9i 40,078 39,764 39,745 3 9, 880 39,927 39,938 3 9, 878 39,910 40,1124 151.3 152.2 153.1 153.2 154.2 155.1 156.2 158.1 111,715 3 9, 761 39,500 110,155 39,667 39,618 4 0. 281 110,361 40,474 38. 106 36.6 77 3 7. 700 38,6119 39,239 39.8136 39,703 111,464 39,550 39.29 6 39,951 39.4 78 39,395 110,000 40, 049 152.5 150.5 151.3 152.8 153.5 154.7 157.0 158.0 1980--AUG •. - 6 p 13 p 20 p 27 p 40,701 39,87!3 41,0 75 40,852 39-. 4.8_; 40, 73l . 39 1 8J,*" 40,'1~. 40,013 39,789 40,740 40,763 157.8 156.9 ' 158.2 158.5 40,416 39,373 4 o, 904 40,3')5 39.5 '!8 38,983 40,560 39.655 39,72 8 39,2134 40.569 40.266 158.2 157.4 158.4 157.2 SEPT. 3 p 41,496 40,148 41,007 159.4 41,067 39,719 40. 578 158.9 !UF. APR. 'lAY JUNE p JULY p AUG. p 37,~15 WEEK ENDING: p - 1/ 2/ 3/ PRELl !'II NARY I'IEMEER BANK BES~RVES SEF.IES REFLECT ACTUAL RESERVE BBQITIREI'I~NT ?EllCENTAg~s WITH NC ADJUSTI'IENT TO ELIMINATE THE EFFECT OF CHANGES IN REGULATIONS D AND 1'1. EFFECTIVE OCTOBER 11, 1979, AN 8 PERCENTAGE POINT MARGINAL RESE'l'!VE REQUIRI'IENT WAS :ti'IPOSED ON 11 1'1AifAGED LIABILITIES". ON OCTOBER 25, 1979, RESERVES OF EDGE ACT CORPORATIONS WERE INCLUDED IN !!EMBER BANKrjRESERVES. THIS ACTION RAISED REQUIRED RESERVES $318 MILLION. El'FECTIVE !lARCH 12, 1980, THE 8 PERCENTAGE PbiNT I'IARGINAL RESERVE REQUIREI!ENT WAS RAISED TO 10 PERCENTAGE POINTS. IN AtDITION THE BASE UPON WHICH THE MARGINAL RESERVE REQUIREMENT IS CALCULATED WAS REDUCED. THIS ACTION INCREASED REQUIRED RESERVES ABOUT ~1,693 I!ILLION IN THR WEE~ ENDING APRIL 2, 1980. EFFECTIVE I'IAY 29, 1980, THE MARGINAL RESERVE REQUIREI'IENT WAS REDUCED FROM 10 TO 5 PERCENTAGE POINTS AND THE EASE UPON WHICH THE I'IARGINAL 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 THE 5 PERCENT MARGINAL RESERVE REQUIREMENT ON MANAGED LIABILITIES AND THE 2 PERCENT SUPPLEMENTARY RESERVE REQUIREMENT AGAINST LARGE TIME DEPOSITS WEUE REI!OVED. THESE ACTIONS REDUCED REQUIRED RESERVES ABOUT $3.2 BILLION. INCLUDES TOTAL RESERVE~ ~~~I'IBER_B~~~ RESERVE BALANCES IN THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS EARLIER); CURRENCY OUTS:tpE TaE o:S~- TREASURY, FEDERAL RESERVE BANKS AND THE VAULTS OF COI'II!ERCIAL BANKS; AND VAULT CASH OF NONMEMBER BANKS.RESERVE AGGREGATES SERIES HAVE BEEB ADJUSTED TO REMOVE DISCONTINUITIES ASSOCIATED WitH I!ARGINAL RESERVE REQUIREMENTS, TijE INCLUSIONS OF ED~E ACT CORPORATION RESERVES, AND OTHER CHANGES IN REGULATIONS D, K, AND 1!. HISTCRICAL DATA AND A DESCRIPTION'Q~ THE ADJUSTMENT PROCEDURE ARE AVAILABLE FRO!! THE BANKING SECTION, DIVISION OF RESEARCH AND.STATISTICg~ BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEI'I, WASHINGTON, D.C. 20551.
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