The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE statistical release
H.3(502)
Table 1
For M i n i et 4:30 Eastern Time
SEPTEMBER
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
26, 1985
1
Adjusted for change* in reserve requirements
Averages of dally figures, seasonally adjusted unless noted otherwise
Millions of dollars
Dale
tota)l
Reserves of depository Institutions
required
nonborrowed
nonborrowed plus
extended credit*
excess
NSA4
Borrowings of depository Institutions
from the Federal Reserve, NSA
total
seasonal
extended credit'
Monetary base9
319
299
212
1113
7,043
6,459
5,057
3,837
2,604
200,206
202,049
202,945
203,562
205,355
207,658
208,831
211,160
1
1
1
1
1
1
1
1
,395
,289
,593
,323
,334
,205
,107
,073
62
71
88
135
165
151
167
221
1 ,050
803
1 ,059
868
534
665
507
570
738
950
210,559
211,523
990
1 ,088
224
225
509
610
684
561
212 272
213^829
1 ,392
1 ,171
196
212
669
656
38,284
38,086
37,961
38,466
39,081
30,268
30,844
31,944
33,849
35,895
37,311
37,303
37,001
37,686
38,499
37,595
37,458
37,341
37,773
38,229
689
628
620
693
853
195,568
196,206
196,397
197,672
199,032
1985—JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG. P
39,635
40,432
40,471
40,710
41,323
42,177
42,606
43,194
38,240
39,143
38,878
39,387
39,989
40,972
41,500
42,121
39,290
39,947
39,937
40,256
40,522
41,638
42,006
42,691
38,890
39,529
39,705
39,972
40,519
41,272
41,751
42,365
745
903
766
738
804
905
855
829
14
28
42,996
43,354
42,006
42,267
42,515
42,876
42,258
42,404
11 P
2 5 PE
43,367
43,518
41,976
42,348
42,644
43,004
42,683
42,957
I
_
8,017
7,242
6,017
4,617
3,186
1984—-AUG.
SEPT.
OCT.
NOV.
DEC.
TWO WEEKS
ENDING
1985-AUG.
SEPT.
i
P-—PRELIMINARY
P E — P R E L I M I N A R Y ESTIMATE
1/ RESERVES AND MONETARY BASE FIGURES INCORPORATE ADJUSTMENTS FOR D I S C O N T I N U I T I E S A S S O C I A T E D WITH THE IMPLEMENTATION OF THE
MONETARY CONTROL ACT AND OTHER REGULATORY CHANGES TO RESERVE R E Q U I R E M E N T S . TO ADJUST FOR D I S C O N T I N U I T I E S DUE TO CHANGES IN
RESERVE REQUIREMENTS ON RESERVABLE NONDEPOSIT LIABILITIES, THE SUM OF SUCH REQUIRED RESERVES ARE SUBTRACTED FROM THE ACTUAL
S E R I E S . SIMILARLY, IN ADJUSTING FOR DISCONTINUITIES IN THE MONETARY BASE, REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO
COMPENSATE FOR FLOAT ALSO ARE SUBTRACTED FROM THE ACTUAL S E R I E S .
2 / TOTAL RESERVES NOT ADJUSTED FOR DISCONTINUITIES CONSISTS OF RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE
REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO COMPENSATE FOR F L O A T ) PLUS VAULT CASH USED TO SATISFY RESERVE R E Q U I R E M E N T S .
SUCH VAULT CASH CONSISTS OF ALL VAULT CASH HELD DURING THE LAGGED COMPUTATION PERIOD BY INSTITUTIONS HAVING REQUIRED RESERVE
BALANCES AT FEDERAL RESERVE BANKS PLUS THE AMOUNT OF VAULT CASH EQUAL TO REQUIRED RESERVES DURING THE MAINTENANCE PERIOD AT
INSTITUTIONS HAVING NO REQUIRED RESERVE B A L A N C E S .
3/ EXTENDED CREDIT CONSISTS OF BORROWING AT THE DISCOUNT WINDOW UNDER THE TERMS AND C O N D I T I O N S ESTABLISHED FOR THE EXTENDED
CREDIT PROGRAM TO HELP DEPOSITORY INSTITUTIONS DEAL WITH SUSTAINED LIQUIDITY P R E S S U R E S . BECAUSE THERE IS NOT THE SAME NEED TO
REPAY SUCH BORROWING PROMPTLY AS THERE IS WITH TRADITIONAL SHORT-TERM ADJUSTMENT CREDIT, THE MONEY MARKET IMPACT OF EXTENDED
CREDIT IS SIMILAR TO THAT OF NONBORROWED R E S E R V E S .
4/ RESERVE BALANCES WITH FEDERAL RESERVE BANKS PLUS VAULT CASH USED TO SATISFY RESERVE R E Q U I R E M E N T S LESS REQUIRED R E S E R V E S .
5/ THE MONETARY BASE NOT ADJUSTED FOR DISCONTINUITIES CONSISTS OF TOTAL RESERVES PLUS R E Q U I R E D CLEARING BALANCES AND ADJUSTMENTS
TO COMPENSATE FOR FLOAT AT FEDERAL RESERVE BANKS PLUS THE CURRENCY COMPONENT OF THE MONEY STOCK LESS THE AMOUNT OF VAULT CASH
H O L D I N G S OF THRIFT INSTITUTIONS THAT IS INCLUDED IN THE CURRENCY COMPONENT OF THE MONEY STOCK PLUS, FOR INSTITUTIONS NOT HAVING
REQUIRED RESERVE BALANCES, THE EXCESS OF CURRENT VAULT CASH OVER THE AMOUNT APPLIED TO SATISFY CURRENT RESERVE R E Q U I R E M E N T S .
AFTER THE INTRODUCTION OF CRR, CURRENCY AND VAULT CASH FIGURES ARE MEASURED OVER THE MONDAY-ENDING COMPUTATION P E R I O D .
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 B A S I S . 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 MONEY STOCK PLUS THE REMAINING ITEMS SEASONALLY ADJUSTED AS A W H O L E .
NOTE- HISTORICAL DATA ARE AVAILABLE FROM THE BANKING SECJION, DIVISION OF RESEARCH AND STATISTICS, BOARD OF GOVERNORS OF THE
http://fraser.stlouisfed.org/FEDERAL RESERVE SYSTEM, WASHINGTON, D.C. 20551
Federal Reserve Bank of St. Louis
H.3 (502)
Table 2
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Not adjusted foivchangea in reserve requirements
Averages of daily figures, jiot seasonally adjusted
Millions of dollar*
"
*' '
Vault cash4
Reserves of depository institutions
Monetary
base*'
Data
total
nonborrowed
Reserve balances,
with F.R. Banks3
total
required
used to satisfy
required
reserves5'
1 ;_ i .. ;
•_ i r"
surplus*'
1984—AUG.
SEPT.
OCT.
NOV.
DEC.
37,264
38,043
38,512
39,235
40,696
29,247
30,801
32,495
34,618
37,509
36,575
37,415
37,892
38,542
39,843
195,677
196,229
196,688
198,771
202,586
19,270
20,143
20,099
20,843
21,738
21,688
21,232
21,875
21,827
22,316
17,995
17,900
18,413
18,392
18,958
3,694
3,333
3,462
3,434
3,358
1985—JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG. P
41,125
40,273
40,494
41,652
41,051
42,352
42,803
42,963
39,730
38,984
38,901
40,329
39,718
41,147
41,696
41,890
40,380
39,370
39,728
40,914
40,247
41,447
41,948
42,134
201,353
199,937
201,287
203,814
204,944
208,386
210,654
211,607
21,577
20,416
22,065
23,217
22,385
23,367
23,503
23,416
23,044
23,927
21,863
21,567
21,898
22,180
22,530
22,839
19,547
19,857
18,429
18,435
18,666
18,985
19,300
19,547
3,497
4,070
3,434
3,132
3,231
3,196
3,230
3,292
SEPT.
«
(
,
1
!
'
:{i
i
\
'
!
h "<"' ' ' l
C.^jftfi*-A.*.^
14
28
11
25
P
PE
43,018
42,791
42,028
41,704
42,280
41,841
211,933
211,058
23,468
23,102
22,829
23,052
19,550
19,689
3,280
3,363
147
88
43,510
44,749
42,119
43,578
42,827
44,188
212,644
214,589
24,639
25,002
21,887
22,705
18,872
19,747
3,016
2,958
193
15
P
PRELIMINARY
PE—PRELIMINARY ESTIMATE.
1/ REFLECTS ACTUAL RESERVE REQUIREMENTS, INCLUDING THOSE ON NONDEPOSIT LIABILITIES, WITH NO ADJUSTMENTS TO ELIMINATE
THE EFFECTS OF DISCONTINUITIES ASSOCIATED WITH IMPLEMENTATION OF THE MONETARY CONTROL ACT OR OTHER REGULATORY
CHANGES TO RESERVE REQUIREMENTS.
2/ CONSISTS OF TOTAL RESERVES PLUS REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO COMPENSATE 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 MONEY STOCK PLUS, FOR INSTITUTIONS NOT HAVING REQUIRED RESERVE BALANCES, THE
EXCESS OF 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.
3/ EXCLUDES REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO COMPENSATE FOR FLOAT.
4/ DATES REFER TO THE MAINTENANCE PERIODS IN WHICH THE VAULT CASH CAN BE USED TO SATISFY RESERVE REQUIREMENTS. UNDER
CONTEMPORANEOUS RESERVE REQUIREMENTS, MAINTENANCE PERIODS END 30 DAYS AFTER THE LAGGED COMPUTATION PERIODS
IN WHICH THE BALANCES ARE HELD.
5/ EQUAL TO ALL VAULT CASH HELD DURING THE LAGGED COMPUTATION PERIOD BY INSTITUTIONS HAVING REQUIRED RESERVE BALANCES
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 THE AMOUNT OF VAULT CASH EQUAL TO THEIR
REQUIRED RESERVES DURING THE MAINTENANCE PERIOD.
7/ CONSISTS OF CARRYOVER ONLY AT DEPOSITORY INSTITUTIONS MAINTAINING RESERVES ON THE BASIS OF TWO-WEEK MAINTENANCE
PERIODS. REFLECTS EXCESS (
» ) OR DEFICIT (- ) RESERVES ELIGIBLE TO BE CARRIED FORWARD INTO THE TWO-WEEK RESERVE
MAINTENANCE PERIOD ENDING ON THE DATE SHOWN.
t
}
TWO WEEKS
ENDING
1985—AUG.
Net carryover
o* excess or
deficit'*'1
in reserve
balances7
• • t
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
Date
total
Reserves of depository institutions
nonborrowed
Monetary base
required
1984—AUG.
SEPT.
OCT.
NOV.
DEC.
37,698
37,881
37,953
38,687
40,129
29,681
30,640
31,936
34,070
36,943
37,008
37,253
37,332
37,994
39,277
196,111
196,067
196,129
198,224
202,020
1 985—-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG. P
40,703
39,878
40,066
41,254
40,643
41,959
42,410
42,596
39,308
38,589
38,473
39,932
39,309
40,754
41,303
41,523
39,958
38,975
39,301
40,516
39,839
41,054
41,554
41,767
200,931
199,542
200,859
203,417
204,535
207,992
210,260
211,240
14
28
42,675
42,403
41,686
41,316
41,937
41,453
211,591
210,671
11 P
25 PE
43,124
43,034
41,732
41,863
42,440
42,473
212,257
212,874
TWO WEEKS
ENDING
1985—AUG.
SEPT.
P-—PRELIMINARY
PE—PRELIMINARY ESTIMATE.
1/ FIGURES REFLECT ADJUSTMENTS FOR DISCONTINUITIES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT
AND OTHER REGULATORY CHANGES TO RESERVE REQUIREMENTS.
@FedFRASER