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RESERVE statistical release
H.S(S02)
Ttbtal
For Release st 4:30 Eastern Time
SEPTEMBER
6,
1964
AQQREQATE 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
Date
tots?
1
Reserves of depository Institutions
nonborrowed
nonborrowed plus
required
extended credit*
excess
USA4
35,194
35,218
35,307
35,317
35,245
35,279
33,741
33,672
33,866
34,473
34,340
34,505
34,319
34,163
34,380
34,729
34,346
34,507
34,687
34,772
34,809
34,812
34,716
34,718
35,502
36,065
36,103
36,104
36,427
37,232
37,177
34,787
35,498
35,152
34,870
33,439
33,932
31,253
34,791
35,503
35,179
34,914
33,476
35,804
36,261
34,889
35,123
35,395
35,614
35,850
36,465
36,571
37,373
37,525
33,464
32,168
36,310
36,782
36,316
37,074
1,058
18
1
15 P
2 9 PE
36,743
37,622
37,049
29,588
29,635
28,904
35,686
36,610
36,088
36,107
36,922
36,364
1983—JULY
AUG.
SEPT.
OCT.
NOT.
DEC
1984—JAB.
FEB.
MAR.
APB.
HAY
JUNE
JULY
I
Borrowings of depository institutions
Monetary base*
total
from the Federal Reserve, NSA
1 extended credit*
I
seasonal
446
498
505
529
561
179,308
180,127
181,775
182,845
183,949
184,969
1,453
1,546
1,441
613
942
709
490
577
767
607
166,940
188,582
188,715
189,662
191,262
193,121
194,026
715
567
952
451
635
700
665
507
844
906
774
I
171
198
190
142
121
96
1
iTe
491
515
256
6
2
2,986
3,300
5,924
66
103
133
139
196
264
308
31
1,873
5,006
193,315
194,669
3,909
5,358
289
284
2,846
4,614
193,552
195,570
194,674
7,155
7,987
8,146
340
338
360
6,098
6,976
7,184
1,234
4
5
27
W
TBO WEEKS
BMDIMG
1984-JOLY
AUG,
P
1/
4
PR ELI BIB A BY
pg—PRELIMINARY ESTIBATE
BBSEBYES AMD BONETABI BASE FIGOBES IMCOBPOEATE ADJUSTMENTS FOB DISCONTINUITIES ASSOCIATED WITH THE IHPLEHENTATION OF THE
MONETARY COMTROL ACT AMD OTHEB REGULATORY CHANGES TO RESERVE REQUIREMENTS. TO ADJUST FOR DISCONTINUITIES DOE TC CHANGES IN
RESEBYE REQUIREMENTS OM RESEBYABLE MONDEPOSIT LIABILITIES, THE SUM OF SUCH REQUIRED RESERVES ABE SUBTRACTED FROM THE ACTUAL
SERIES. SIMILARLY, IM ADJUSTING FOB DISCONTINUITIES IN TBE NONETABY BASE, REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO
COMPENSATE FOB FLOAT ALSO ABE SUBTRACTED FROM THE ACT0AL SERIES.
2/ TOTAL RESERVES MOT ADJUSTED FOB DISCONTINUITIES CONSISTS OF RESERVE BALANCES BITH FEDEBhL RESERVE BANKS {WHICH EXCLUDE
REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO COMPENSATE FOB FLOAT) PLUS VAULT CASH USED TO SATISFY BESBRVE REQUIREMENTS.
SUCH VAULT CASH CONSISTS OF ALL VAULT CASH HELD DURING THE LAGGED COMPUTATION PERIOD BY INSTITUTIONS HAYING BEQ0IBED RESERVE
BALANCES AT FEDERAL RESEBYE BANKS PLUS THE AMOUNT OF VAULT CASH EQUAL TO REQUIRED RESERVES DURING THE MAINTENANCE PEBIOD AT
INSTITUTIONS HAVING NO REQUIRED RESERVE BALANCES.
3/ EXTENDED CREDIT CONSISTS OF BOBROWING AT THE DISCOUNT WINDOW UNDER THE TERMS AND CONDITIONS ESTABLISHED FOR THE EXTENDED
CREDIT PROGRAB TO HELP DEPOSITORY INSTITUTIONS DEAL HITH SUSTAINED LIQUIDITY PRESSURES. BECAUSE THERE IS NOT THE SAME NEED 10
REPAY SUCH BORROBING PROMPTLY AS THERE IS BITH TRADITIONAL SHORT-TERM ADJUSTMENT CREDIT, THE HONEY MARKET IMPACT OF EXTENDED
CREDIT IS SIMILAR TO THAT OF NONBOBBOWEE RESERVES.
4/ BESBRVE BALANCES BITH FEDERAL RESERVE BANKS PLUS VAULT CASH USED TO SATISFY RESERVE REQUIREMENTS LESS REQUIRED RESERVES.
5/ THE MONETARY BASE MOT ADJUSTED FOR DISCONTINUITIES CONSISTS OF TOTAL RESERVES PLUS REQUIRED CLEARING BALANCES AND ADJUSTMENTS
TO COMPENSATE FOB FLOAT AT FEDEBAL BESEBVB BANKS PLUS TBE CURRENCY COMPONENT OF THE HONEY 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.
PRIOR TO CRB, ALL COMPONENTS OF THE MONETARY BASE OTHER THAN EXCESS RESERVES ARE SEASONALLY ADJUSTED AS A iHOLE, RATHER TBAN
BY COMPONENT, AND EXCESS RESEBVES IS ADDED ON A NOT SEASONALLY ADJUSTED EAS1S. AFTER CRR, THE SEASONALLY ADJUSTED SERIES
CONSISTS OF SEASONALLY ADJUSTED TOTAL RESERVES (WHICH INCLUDES EXCESS RESERVES ON A NOT SEASONALLY ADJDSIBD BASIS) PLUS THE
SEASONALLY ADJUSTBD CURRENCY COMPONENT OF THE MONEY 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 GOVERNORS OF THE
FEDERAL RESERVE SYSTEM, WASHINGTON, D.C. 20551
H.3 (502)
Table 2
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Nof adjusted for changes in reserve requirements;1
Averages of daily figures, not seasonally adjusted
Millions of dollars
Vault cash4
Reserves of depository institutions
Monetary
base2
Date
nonborrowed
Reserve balances
with F.R. Banks^
required
total
used to satisfy
required
reserves5
surplus6
1 9 8 3 - -JULY
AUGSEPT.
OCT*
HOY.
DEC
38,948
38,661
37,916
38,137
38,144
38,894
37,495
37,114
36,475
37,294
37,239
38,120
38,440
38,214
37,418
37,633
37,615
38,333
185,303
185,398
185,112
186,598
188,971
192,359
22,139
21,965
20,585
21,059
20,943
20,986
20,413
20,035
20,798
20,471
20,558
20,755
16,808
16,695
17,331
17,078
17,201
17,908
3,604
3,340
3,467
3,393
3,356
2,847
1984—JAN.
FEB,
NAB*
APB.
HAY
JOKE
JOLT
40,120
36,365
36,278
37,154
36,519
37,518
37,464
39,405
35,798
35,326
35,920
33,531
34,218
31,540
39,507
35,423
35,569
36,664
35,942
36,752
36,858
192,301
186,672
187,813
190,344
191,080
193,962
195,525
21,325
16,414
19,484
20,351
19,560
20,210
19,885
22,578
22,269
20,396
20,152
20,446
20,770
21,134
18,795
17,951
16,794
16,802
16,960
17,308'
17,579
3,782
4,318
3,602
3,349
3,486
3,461
3,555
4
18
37,702
37,950
33,793
32,593
36,645
37,499
194,268
196,965
20,189
20,546
21,121
20,708
17,513
17,404
3,608
3,304
1
15 P
29 PE
36,868
37,613
36,867
29,713
29,626
28,721
36,233
36,914
36,181
194,361
196,504
194,557
19,079
19,691
18,730
21,597
21,533
21,981
17,789
17,923
18,137
3,808
3,610
3,844
Net carryover
of excess or
deficit
TSO WEEKS
ENDING
1984—JULY
AUG,
P — PBELIHINABY
PE—PBELIBINAFY ESTIMATE.
1/ 1BFLBCTS ACT0AL BESEBYE HEQUIBEHENTS, INCLUDING THOSE ON NONDEPOSIT LIABILITIES, WITH NO ADJUSTMENTS TO ELIMINATE
THE EFFECTS OF DISCONTINUITIES ASSOCIATED WITH IMPLEMENTATION OP THE MONETAE* CONTBOL ACT OB OTHEB BEGULATOBY
CHARGES TO BESEBYE BEQUIBEHENTS.
2/ CONSISTS OF TOTAL BESEBYES PLUS BEQUIBED CLEABING BALANCES AND ADJUSTMENTS TC COMPENSATE FOB FLOAT AT PEDEBAL BESEBYE
BANKS PLUS THE CUBBENCY COMPONENT OF THE MONEY STOCK LESS THE AMOUNT OF YAUL1 CASH HOLDINGS OF THBIFI INSTITUTIONS TBAT
IS INCLUDED IN THE CUBBENCY COMPONENT OF THE MONEY STOCK PLUS, FOB INSTITUTIONS NOT HAYING BEQUIBED BESEBYE BALANCES, THE
EXCESS OF CUBBENT YAULT CASH OYEB THE AMOUNT APPLIED TO SATISFY CUBBENT BESEBYE BEQUIBEHENTS. AFTEB THE INTBODUCTICN OF
CtB, CUBBENCY AND YAULT CASH FIGUBES ABE MEASOBED OYEB THE MONDAY-ENDING COMPUTATION PEBIO0.
3/ EXCLUDES BEQUIBED CLEABING BALANCES AND ADJUSTMENTS TO COMPENSATE FOB FLCAT.
4/ DATES RZTMR TO THE HAIHTENAHCE PEBIODS IN HHICH THE YAULT CASH CAN BE USED TO SATISFY BESEBYE BEQUIBEHENTS. UNDIB
CONTEMPOBANEOUS BESEBYE BEQUIBEMENTS, MAINTENANCE PEBIODS END 30 DAYS AFTEB THE LAGGED COMPUTATION PEBIODS
IN VHICH THE BALANCES ABE HELD.
5/ EQUAL TO ALL YAULT CASH HELD DUBING THE LAGGED COMPUTATION PEBIOD BY INSTITUTIONS HAVING REQUIBED BESEBYE BALANCES
AT FEDERAL BESEBYE BANKS PLUS THE AMOUNT OF YAULT CASH EQUAL TO BEQUIBED BESEBVES DUBING THE MAINTENANCE PEBIOD AT
INSTITUTIONS HAYING NO BEQUIBED BESEB7E BALANCES.
6/ TOTAL YAULT CASH AT INSTITUTIONS HAVIHG NO BEQUIBED BESEBYE BALANCES LESS THE AMOUNT OF VAULT CASH EQUAL TO THEIB
BEQUIBED BESEBYES DUBING THE MAINTENANCE PEBIOD.
V CONSISTS OF CAHHYOYEB ONLY AT DEPOSIT1BY INSTITUTIONS MAINTAINING BESEBYES ON THE BASIS OF 1NO-BEEK MAINTENANCE
PE1I0D5. BEFLECTS EXCESS (•) OB DEFI :iT (-) RESERVES ELIGIBLE TC BE CABBIED FOBNARD INTO THE TWO-KEEK BESEBYE
MAINTENANCE PEBIOD ENDING ON THE DATE SHOBN
108
252
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
no n borrowed
Monetary base
required
1983—JULY
AUG
SEPT.
OCT.
HOY.
DEC.
34,978
34,713
35,008
35,313
35,350
35,997
33,525
33,167
33,567
34,469
34,445
35,223
34,470
34,266
34,510
34,808
34,821
35,436
180,182
180,140
181,238
182,672
185,035
188,231
1984—JAB.
FEB.
NAB.
APB.
HAY
JOSE
JULY
37,303
35,654
35,630
36,464
35,763
36,757
36,803
36,588
35,087
34,678
35,231
32,775
33,457
30,879
36,690
34,712
34,921
35,974
35,186
35,990
36,197
188,100
185,931
187,165
189,655
190,325
193,201
194,864
4
18
36,947
37,342
33,038
31,984
35,889
36,891
193,513
196,357
1
15 P
29 PE
36,179
37,019
36,237
29,025
29,032
28,092
35,544
36,319
35,552
193,672
195,910
193,927
TBO SEEKS
BMDIHG
1984—JOLT
AUG.
P
PRELIMINARY
PE—PBELIHIIARY ESTIflATE.
1/ FIGURES REFLECT ADJUSTMENTS FOB DISCOMTIBUITIES ASSOCIATED WITH THE IBPLEBEMTATION OF THE BOHETARY CONTBOL ACT
AHD OTHER BEGOLATOBY CHAMGES TO BESEBYE REQUIREMENTS*
@FedFRASER