Federal Reserve Statistical Release, H.3, Aggregate Reserves of Depository Institutions and the Monetary Base; title with eagle logo links to Statistical Release home page

Release Date: October 4, 2001

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 H.3 (502)
Table 1      For Release at 4:30 p.m. Eastern Time
October 4, 2001
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adjusted for changes in reserve requirements1
Averages of daily figures, seasonally adjusted unless noted otherwise
Millions of dollars
  Reserves of depository institutions   Borrowings of depository institutions from
the Federal Reserve, NSA
Date total2 nonborrowed3 required excess NSA4 Monetary
base5
total adjustment seasonal
extended
credit
 2000-Sep.                39386         38908            38267          1119        578335           477            50           427             0 
                                                                                                                                                   
      Oct.                39021         38602            37874          1147        579696           418           119           299             0 
      Nov.                39023         38739            37821          1201        581395           283           124           159             0 
      Dec.                38507         38297            37182          1325        583958           210            99           111             0 
                                                                                                                                                   
 2001-Jan.                38827         38754            37574          1253        589387            73            39            34             0 
      Feb.                38867         38815            37434          1432        591117            51            30            21             0 
      Mar.                38258         38200            36873          1385        592420            58            38            20             0 
                                                                                                                                                   
      Apr.                38788         38737            37511          1277        595925            51            15            35             0 
      May                 38888         38675            37869          1019        599089           213           134            79             0 
      June                38774         38545            37414          1360        601882           229           110           120             0 
                                                                                                                                                   
      July                39600         39317            38194          1407        607683           283           109           174             0 
      Aug.                39895         39712            38660          1235        615392           183            19           164             0 
      Sep. p              57952         54567            38803         19149        640228          3385          3292            93             0 
          
Two weeks ending           
 2001-Aug.  8             39788         39574            38621          1167        612410           214            27           188             0 
           22             39741         39557            38655          1086        614925           184             9           175             0 
                                                                                                                                                   
      Sep.  5             40232         40076            38703          1528        618768           156            29           127             0 
           19             76029         69313            37741         38288        657739          6717          6622            95             0 
                                                                                                                                                   
      Oct.  3p            43000         42387            40201          2798        627695           613           538            75             0 
 1. Reserves and monetary base figures incorporate adjustments for discontinuities, or "breaks", associated with regulatory changes in reserve 
requirements. (For more information, see Table 3).
2. Seasonally adjusted, break-adjusted total reserves equal seasonally adjusted, break-adjusted required reserves plus unadjusted excess
reserves. (Also, see footnote 2 on Table 2 and footnote 2 on Table 3.)
3. Seasonally adjusted, break-adjusted nonborrowed reserves equal seasonally adjusted, break-adjusted total reserves less unadjusted total
borrowings of depository institutions from the Federal Reserve.
4. Excess reserves NSA equals unadjusted total reserves (Table 2, column 1) less adjusted required reserves (Table 2, column 3).
5. The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally adjusted, break-adjusted total reserves plus (2)
the seasonally adjusted currency component of the money stock plus (3), for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all those weekly reporters whose vault cash exceeds their required reserves, the
seasonally adjusted, break-adjusted difference between current vault cash and the amount applied to satisfy current reserve requirements.
(Also see footnote 3 on Table 2 and footnote 4 on table 3.)
p preliminary
 
 
 
 
H.3 (502)
Table 2
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Not adjusted for changes in reserve requirements1
Averages of daily figures, not seasonally adjusted
Millions of dollars
  Reserves of depository institutions    Vault cash5  
Date total2 nonborrowed required Monetary base3 Reserve
balances
with F.R
Banks4
total used to
satisfy
required
reserves6
surplus7 Net carryover
of reserve
balances8
 2000-Sep.                 39168         38691         38050        583519         6852         44829         32316         12513   
                                                                                                                                    
      Oct.                 38776         38358         37629        585014         6778         45233         31998         13235   
      Nov.                 38786         38502         37584        589120         7156         44635         31629         13006   
      Dec.                 38540         38331         37216        597120         7159         45228         31381         13847   
                                                                                                                                    
 2001-Jan.                 39791         39718         38538        598377         7190         47683         32601         15083   
      Feb.                 39349         39298         37917        595586         6615         48518         32734         15784   
      Mar.                 37715         37657         36329        598195         6737         44105         30978         13128   
                                                                                                                                    
      Apr.                 38591         38540         37314        601835         6863         43657         31728         11929   
      May                  39382         39169         38363        605481         7610         43263         31772         11491   
      June                 38233         38004         36873        608825         7058         43133         31175         11958   
                                                                                                                                    
      July                 39296         39013         37889        615556         7674         43908         31622         12286   
      Aug.                 39623         39440         38388        621908         7566         44007         32057         11950   
      Sep. p               57633         54247         38484        646197        25675         43469         31958         11511   
          
Two weeks ending           
 2001-Aug.  8              39948         39734         38781        618943         7648         44716         32300         12416            25 
           22              39170         38986         38084        621642         7051         44325         32119         12207            17 
                                                                                                                                                
      Sep.  5              40039         39884         38511        624959         8294         42882         31746         11136           -16 
           19              75573         68857         37285        664802        44559         43029         31015         12014           210 
                                                                                                                                                
      Oct.  3p             42796         42183         39998        632171         9541         44295         33255         11040           603 
 1. Reflects actual required reserves, with no adjustments to eliminate the effects of discontinuities, or "breaks", associated with 
regulatory changes in reserve requirements.
2. Reserve balances with Federal Reserve Banks plus vault cash used to satisfy reserve requirements.
3. The monetary base, not break-adjusted and not seasonally adjusted, consists of (1) total reserves plus (2) required clearing balances
and adjustments to compensate for float at Federal Reserve Banks plus (3) the currency component of the money stock plus (4), for all
quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters whose
vault cash exceeds their required reserves, the difference between current vault cash and the amount applied to satisfy current reserve
requirements. Currency and vault cash figures are measured over computation periods ending on Mondays.
4. Excludes required clearing balances and adjustments to compensate for float and includes other off-balance sheet "as-of" adjustments.
5. Vault cash eligible to satisfy reserve requirements. It includes only vault cash held by those banks and thrifts that are not exempt
from reserve requirements. Dates refer to the maintenance periods in which the vault cash can be used to satisfy reserve requirements.
6. All vault cash held during the lagged computation period by "bound" institutions (i.e., those whose required reserves exceed their vault
cash) plus the amount of vault cash applied during the maintenance period by "nonbound" institutions (i.e., those whose vault cash
exceeds their required reserves) to satisfy current reserve requirements.
7. Total vault cash eligible to satisfy reserve requirements, held by depository institutions not exempt from reserve requirements, minus the
amount used to satisfy reserve requirements.
8. 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.
p preliminary
 
 
 
 
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
  Reserves of depository institutions  
Date total2 nonborrowed required3 Monetary base
 2000-Sep.                39224         38746         38105          576836 
                                                                            
      Oct.                38837         38419         37690          578291 
      Nov.                38846         38563         37645          582356 
      Dec.                38596         38386         37271          590200 
                                                                            
 2001-Jan.                39775         39702         38522          591498 
      Feb.                39378         39327         37946          589036 
      Mar.                37762         37705         36377          591364 
                                                                            
      Apr.                38655         38605         37379          594915 
      May                 39462         39249         38443          598571 
      June                38331         38102         36971          601688 
                                                                            
      July                39413         39130         38006          608223 
      Aug.                39753         39570         38518          614427 
      Sep. p              57790         54405         38642          638451 
         
Two weeks ending          
 2001-Aug.  8             40071         39857         38904          611502 
           22             39297         39113         38211          614213 
                                                                            
      Sep.  5             40182         40026         38654          617361 
           19             75722         69006         37434          657208 
                                                                            
      Oct.  3p            42972         42359         40173          624165 
 
1. Figures reflect adjustments for discontinuities, or "breaks", associated with
regulatory changes in reserve requirements.
2. Break-adjusted total reserves equal break-adjusted required reserves (Table 3,
column 3) plus excess reserves NSA (Table 1, column 5).
3. To adjust required reserves for discontinuities due to regulatory changes in
in reserve requirements, a multiplicative procedure is used to estimate what
required reserves would have been in past periods had current reserve
requirements been in effect. Break-adjusted required reserves are equal to
break-adjusted required reserves against transactions deposits.
4. The break-adjusted monetary base equals (1) break-adjusted total reserves plus
(2) the (unadjusted) currency component of the money stock plus (3), for all
quarterly reporters on the "Report of Transaction Accounts, Other Deposits and
Vault Cash" and for all those weekly reporters whose vault cash exceeds their
required reserves, the break-adjusted difference between current vault cash and
the amount applied to satisfy current reserve requirements.
p preliminary          
 

Note: Current and historical H.3 data are available each week on the Federal Reserve
Board's web site (http://www.federalreserve.gov/). Monthly data are available
back to January 1959, and weekly data are available back to January 1975 for most
series. For information about individual copies or subscriptions, contact
Publications Services at the Federal Reserve Board (phone 202-452-3245,
fax 202-728-5886). For paid electronic access to current and historical data,
call STAT-USA at 1-800-782-8872 or 202-482-1986.

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Last update: October 4, 2001