Aggregate Reserves of Depository Institutions and the Monetary Base - H.3
The Board's H.3 statistical release, "Aggregate Reserves of Depository Institutions and the Monetary Base," will be modified on July 11, 2013, to include data for the first time depicting (1) the penalty-free band around reserve balance requirements provided for in the final phase of the simplification of reserves administration, (2) interest rates paid on balances maintained to satisfy reserve balance requirements and balances maintained that exceed the top of the penalty-free band, and (3) a monetary base series calculated based on a simplified formula. At the same time, several series currently published in the H.3 statistical release will be discontinued, including the break-adjusted, seasonally adjusted monetary base. Historical data for all discontinued series will remain available through the Data Download Program. A template for the modified H.3 statistical release, along with supplemental information, can be found here: http://www.federalreserve.gov/releases/h3/upcoming-changes.htm.
**Annual seasonal factor review