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FEDERAL RESERVE statistical release H.3<50fl) Tabfcl For W i l m i at 4:30 EsiHrw Tims AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE SEPTBBABB 4, 1986 Afl|U8t9Q fOf OflOJIOSS if) fOSSfVS fSOJUMSMISfltS AVSTSQSS d* dstty ndjuvMi sssoonony l l l l l l n n i mS A t l i a i a nmnonv v f V D M r e wiitow of dsposHory Institutions Date tots? ^ nonborrowsd nonborrowsd plus sxisooso crsowr VSSJtMfSd 43,083 43,654 43,882 44,244 44,847 45,612 41,976 42,581 42,593 43,056 43,106 44,294 42,483 43,151 43,249 43,685 43,637 44,793 | 42,227 42,826 43,216 43,491 43,919 44,554 45,881 46,370 46,865 47,275 48,577 49,445 50,489 45,111 45,486 46,104 46,383 47,701 48,642 49,748 45,608 45,978 46,622 47,017 48,285 49,172 50,126 16 30 50,246 50,809 49,488 50,107 13 P 27 PB 50,832 51,656 50,073 50,746 1985—JO L I AUG. SEPT. OCT. •Of. DEC. 1986—JAB. FEB. BAB. AFB. BAI JUBB JDLI P I Monstsry boss* sxosss NSA4 BoffowtnQS off dsposltofy Institutions from ths Fsdsrsl Rsssrvs. MSA 1 ,nla.J.i ssssonsJ tots! is? 827 666 753 928 1,058 209,105 211,208 212,289 213,566 215,253 216,721 1*107 1,073 1,289 1,187 1,741 1,318 44,771 45,272 45,968 46,474 47,739 48,514 49,579 1,111 1,097 896 801 838 931 910 218,404 219,788 221,262 222,359 224,904 226,631 228,300 770 884 761 893 876 49,930 50,401 49,567 49,692 679 1,117 _ 50,446 51,261 50,245 50,773 587 883 »M^^ldT j mmmWMO WmHC 167 221 203 172 107 I 507 56 570 656 629 530 499 741 36 56 68 73 94 108 116 497 492 518 634 584 531 376 227,786 228,889 758 702 104 127 442 294 229,726 231,142 759 910 134 152 373 515 eo3 ! TBO BBBKS EBDXB6 1986-JUL! AUG. -PBBLIBIBABX BE—PBBLIBIBABY ESTXBATE BESEB7BS ABO BOBBTABX BASE FIGURES IBCOBPOBAIE ADJUSTMENTS FOB DISCOBTIBOITIES ASSOCIATED BITH TBE IBPLEBBNTATIOfl OF TBE BOBBTABI COBTBOL ACT ABD OTBBB REG0LATORI CBABGES TO BBSBEfB BBQUIBEBEETS. TO ADJUST FOB DISCOBTIB8ITIBS DDE TO CBABGES IB BBSBBfB BEQOIBBBBBTS OB BESEBfABLB BOBDEPOSIT LIABILITIES, TBE SOB OF SUCH BBQ0IBED BBSBBfBS ABE SBBTBACTED FBOfl TBE ACTUAL SEBIBS. SIBILABLT, IB ADJOSTIBG FOB DISCOBTIBOITIES IB TBE BOBBTABI BASE, BEQUIBBD CLBABIBG BALAICES ABD ADJUSTMENTS TO COBPBBSATE FOB FLOAT ALSO ABB SOBTBACTED FBOfl THB ACTUAL SEBIBS* 2/ TOTAL BBSBBVES BOT ADJUSTED FOB DISCOBTIBOITIES COBSISTS OF BESEBFE BALABCES BITB FBDBBAL BBSBBfB BABES (BHIC8 EXCLUDE BEQUIBBD CLBABIBG BALABCES ABD ADJUSTMENTS TO COBPBBSATE FOB FLOAT) PLUS FAULT CASH USED TO SATISFY BBSBBFB BBQOIBXflBBTS. SUCB VAULT CASB COBSISTS OF ALL fAULT CASH HELD DUBIBG THB LAGGED COBPUTATIOB PEBIOD BT IBSTITOTIOBS BAflBG BEQUIBBD BBSBBfB BALABCES AT FEDERAL BBSEBTE BABKS PLUS THE AflOUflT OF YAULT CASH EQUAL TO BEQUIBBD BBSBBfBS DOBIHG THE BAIBTBBABCB PEBIOD AT IBSTITUTIOBS HAYIBG BO BBQUIBED BBSBBfB BALABCES. 3/ BXTEVDBD CBBDIT COBSISTS OF BOBBOBIBG AT THE DISCOUBT BIBDOB UBDEB THB TBBBS ABD CONDITIOIS ESTABLISHED FOB THB B1TBMDBD CREDIT PBOGBAB TO BBLP DBPOSITOBY IBSTITUTIOBS DEAL BITH SOSTAIHED LIQUIDITY PRESSURES. BECAUSE THERE IS BOT TBB SABE BBBB TO BBPAI SUCH BOBBOBIBG PBOHPTLY AS THEBB IS BITB TBADITIOBAL SHORT-TERM ADJOSTBEBT CBBDIT, THB BOBBY BARBET IBPACT OF EXTBBDXD CBBDIT IS SIBXLAB TO TBAT OF BONBORROBED BBSBBVES. 4/ BESEBYB BALABCES BITH FBDBBAL BBSBBfB BABKS PLUS VAULT CASH USBD TO SATISFY BBSBBfB BBQOIBEHBirYS LESS BBQUIfcBD BBSEBBSS^ .fct|5/ TIE HOBBTABY BASE BOT ADJUSTED FOB DISCONTINUITIES COBSISTS OF TOTAL BBSBBVES PLUS BBQBB<Efl»CI flBilBO dNNll IBTES ABD aDJOSMBBTS TO COBPBBSATB FOB FLOAT AT FEDERAL BESBBVB BABKS PLUS THB CUBBEBCY COBPOBEBT OF TAB BOBBY STOCK OTSS THB AflOONT OP VAULT CASB BOLDIBGS OF THBIFT IBSTITOTIOBS TBAT IS INCLUDED IN THB COBBEBCY COBPOBEBT OF THE HOBBY STOCK PLUS, FOB IBSTITOTIOBS BOT HAVIHG BEQUIBBD BESBBVB BALABCES, TAB EICBSS OF CURRENT VAULT CASH OVEB THE AflOUBT APPLIED TO SATISFY CUBBBBT BBSBBfB BEQUIBBBBBTS. AFTER THE IHTBODOCTIOB OF CBB, CUBBBBCY ABD VAULT CASH FIGURES ABB BBASUBBD OVEB TBB HONDAI-ENDING COBPUTATIOB PEBIOD. FBIOB TO CBB, ALL COMPONENTS OF THE HONETABI BASE OTHER THAN BXCESS BBSBBfBS ARE SEASOBALLY ADJUSTED AS A BBOLB, BATBEE TBAB BY COBPOBEBT, ABD BXCESS BBSBBVES IS ADDED OB A BOT SEASOBALLY ADJUSTED BASIS. AFTEB CHB, THE SEASOBALLY ADJUSTED SEBIBS COBSISTS OF SEASOBALLY ADJUSTED TOTAL BBSBBfBS (BHICH INCLUDES BXCBSS RESERVES OB A BOT SEASOBALLY ADJUSTED BASIS) PLUS TBB SEASOBALLY ADJUSTED CUBBEBCY COBPOBEBT OF THB BONEI STOCK PLUS TBE REMAINING ITEMS SEASOBALLY ADJUSTED AS A BBOLB. BOTE: HISTORICAL DATA ABE AVAILABLE FBOfl TBE BANKING SECTION, DIVISION OF BESEABCH AND STATISTICS, BOABD OF GOVERNORS OF THB FEDEBAL RESERVE SYSTBB, WASHINGTON, D.C. 20551 V H.3(502) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Not adjusted for/.changes in reserve requirements^ Averages of daily figures, not seasonally adjusted Millions of dollars Vault cash4 Reserves of depository institutions Monetary base** Date total nonborrowed Reserve balances^ with F.R. Banks'^ total required used to satisfy required Net carryover of excess or deficit In reserve i surplus* 5 reserves ) •mm • balances7 • »*8ljflijU t 1985—JULY AUG. SEPT. OCT. NOV. DEC 42,803 42,963 44,447 45,469 46,382 48,142 41,696 41,890 43,158 44,282 44,641 46,824 41,948 42,135 43,782 44,716 45,454 47,085 212,269 213,156 214,501 216,192 218,962 223,534 23,503 23,415 24,972 25,431 26,385 27,620 22,530 22,839 22,465 22,724 22,457 22,956 19,300 19,548 19,475 20,038 19,997 20,522 3,230 3,291 2,990 2,686 2,46Q 2,434 19 8 6 — J AN. FEB. BAB. APR* BAT JUBB JUL! P 48,060 46,652 47,274 48,882 48,419 49,938 51,029 47,289 45,768 46,513 47,989 47,543 49,135 50,288 46,949 45,555 46,378 48,081 47,581 49,007 50,118 221,588 219,568 221,703 224,879 226,118 229,676 232,546 26,373 24,700 27,114 28,892 28,279 29,499 30,313 24,245 24,962 22,688 22,231 22,474 22,805 23,098 21,687 21,952 20,160 19,990 20,140 20,439 20,716 2,559 3,010 2,528 2,241 2,334 2,366 2,381 16 30 51,550 50,644 50,792 49,942 50,871 49,528 233,929 231,529 31,267 29,549 22,466 23,644 20,283 21,095 2,183 2,549 -11 13 P 27 PB 51,179 51,162 50,421 50,252 50,593 50,279 233,384 232,952 30,189 29,786 23,323 23,792 20,990 21,376 2,333 2,416 250 -7 1 1 i it It t 5 !. j 1 , .-J J 1 TWO HBBKS ENDING 1986—JOLT AUG. i P PBELIHINABT PB—PBELIBINABT ESTIMATE. 1/ REFLECTS ACTUAL RESERVE REQUIREMENTS, INCLUDING THOSE ON HONDEPOSIT L I A B I L I T I E S , BITH NO ADJ0STBENTS TO ELIMINATE TUB EFFECTS OF DISCONTINUITIES ASSOCIATED VITB IBPLEBENTATION OF TAB MONETARY CONTBOL ACT OB OTHEB BEGULATOBI CBABGES TO RESER1E BBQUIBEflBNTS. 2/ CONSISTS OF TOTAL RESERVES PLUS BBQUIBED CLEANING BALANCES AND ADJOSTflEBTS TO COBPENSATE FOB FLOAT AT FEDERAL BBSEBfB BANKS PLUS TBE CUBBENCT COflPONENT OF THE HONEI STOCK LESS THE AflOONT OF VAULT CASH HOLDINGS OF THBIFT INSTITUTIONS THAT I S INCLUDED IN THE CDBBEBCI COflPONENT OF THE BOMBY STOCK PLUS, FOB INSTITUTIONS NOT HAVING REQUIRED RESERVE BALANCES, THE EXCESS OF CUflfiENT VAULT CASH OVEB THE AflOONT APPLIED TO S A T I S F I CUBBEBT BESJSBVE BBQUIBEBENTS. AFTEB THE INTRODUCTION OF CBB, CUBBENCT AND VAULT CASH FIGUBES ARE HEASUBED OVEB THE MONDAY-ENDING COAPUTATIOfl PERIOD. 3/ EXCLUDES BBQUIBED CLEARIBG BALABCBS ABD ADJUSTflENTS TO COflPENSATE FOB FLOAT. 4/ DATES REFER TO THE MAINTENANCE PBBIODS IN BHICH THE VAULT CASH CAN BB USED TO SATISFY RESERVE BEQOIBEHENTS. UNDEB CONTEBPOBANBOUS RESERVE BEQUIREBEBTS, HAIHTENANCE PERIODS END 30 DAIS AFTEB THE LAGGED COMPUTATION PBBIODS IN BBICH TBE BALANCES ABE HELD. 5/ EQUAL TO ALL VAULT CASH BELD DURING THE LAGGED COHPUTATION PERIOD BY INSTITUTIONS HAVING BBUUIRED BESBBVE BALABCBS AT FEDERAL RESERVE BANKS PLUS TBE AMOUNT OF VAULT CASH EQUAL TO BBQUIBED RESERVES DUBING THE MAINTENANCE PERIOD AT INSTITUTIONS BAVING NO REQUIRED RESERVE BALANCES. 1 6/ TOTAL VAULT CASH AT INSTITUTIONS HAVING NO REQUIRED RESERVE BALANCES LESS THE AflOONT OF VAULT CASH EQUAL TO THEIB REQUIRED RESERVES DURING THE MAINTENANCE PERIOD. 7/ CONSISTS OF CARRYOVER ONLY AT DEPOSITORY INSTITUTIONS MAINTAINING RESERVES ON THE BASIS OF TNO-HEBK MAINTENANCE PBBIODS. REFLECTS EXCESS ( • ) OR DEFICIT ( - ) RESERVES ELIGIBLE TO BE CARRIED FORWARD INTO THE TUO-UBBK RESERVE BAINTENAaCE PERIOD ENDING ON THE DATE SHOWN, 239 "'J 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 1985—JOLI AUG, SEPT. OCT. NOV. DEC. 42,896 43,069 43,676 44,207 45,082 46,839 41,789 41,996 42,388 43,020 43,341 45,520 42,040 42,241 43,011 43,454 44,154 45,781 210,555 211,514 212,157 213,357 216,038 220,362 1986—JAB. FEB. MAR. APR. HAY JOKE JULY P 47,113 45,684 46,338 47,936 47,712 49,198 50,319 46,342 44,800 45,578 47,044 46,836 48,395 49,579 46,002 44,587 45,442 47,135 46,374 48,267 49,409 218,741 216,784 218,985 222,134 223,608 227,037 230,020 16 30 50,845 49,938 50,087 49,236 50,166 48,821 231,469 13 P 21 PE 50,505 50,510 49,746 49,600 49,918 49,628 230,883 23Q.322 TWO REEKS ENDING 1986—JOLI AUG. 22Q,9bJ P PRELIMINARY PE—PRELIMINARY ESTIMATE. 1/ FIGURES REFLECT ADJUSTMENTS FOR DISCONTINUITIES ASSOCIATED WITH THE IMPLEMENTATION OF THE HONETART CONTROL ACT AND OTHER REGULATORY CHANGES TO RBSSRfS REQUIREMENTS.
@FedFRASER