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Release Date: June 14, 2001
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FEDERAL RESERVE STATISTICAL RELEASE
H.3 (502)
Table 1 For Release at 4:30 p.m. Eastern Time
June 14, 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
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Reserves of depository institutions Borrowings of depository institutions from
the Federal Reserve, NSA
--------------------------------------------------- --------------------------------------------------
Date total2 nonborrowed3 required excess NSA4 Monetary total adjustment seasonal extended
base5
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2000-May 41003 40641 40031 972 574145 362 86 276 0
June 39882 39403 38766 1117 575307 479 90 389 0
July 40124 39555 38981 1144 576957 570 60 510 0
Aug. 39643 39064 38639 1004 577531 579 25 554 0
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 592419 58 38 20 0
Apr. 38788 38737 37511 1277 595870 51 15 35 0
May p 38890 38677 37869 1021 598769 213 134 79 0
Two weeks ending
2001-Apr. 18 38199 38158 37003 1196 594964 42 4 38 0
May 2 39320 39261 38105 1214 597043 59 20 39 0
16 38029 37683 37139 890 597072 346 267 79 0
30 39759 39662 38651 1108 600962 97 13 85 0
June 13p 37922 37627 36654 1268 595260 295 195 101 0
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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
1
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
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Reserves of depository institutions Vault cash5
-------------------------------------- --------------------------------------
Reserve used to Net carryover
Date total2 nonborrowed required Monetary base3 balances total satisfy surplus7 of reserve
with F.R. required balances8
Banks4 reserves6
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2000-May 41585 41224 40614 580222 7692 44643 33894 10749
June 39363 38884 38247 581687 6610 44562 32753 11809
July 39884 39315 38741 584283 6802 45476 33082 12394
Aug. 39464 38885 38460 583401 6933 45330 32531 12799
Sep. 39168 38691 38050 583519 6852 44830 32316 12514
Oct. 38776 38358 37629 585014 6778 45234 31998 13236
Nov. 38786 38502 37584 589120 7156 44636 31629 13007
Dec. 38540 38331 37216 597120 7159 45229 31381 13848
2001-Jan. 39791 39718 38538 598377 7190 47683 32601 15083
Feb. 39349 39298 37917 595586 6615 48517 32734 15783
Mar. 37715 37657 36329 598195 6737 44104 30978 13127
Apr. 38591 38540 37314 601790 6863 43656 31728 11928
May p 39384 39171 38362 605183 7611 43262 31773 11489
Two weeks ending
2001-Apr. 18 37525 37483 36329 601741 6326 43409 31199 12210 113
May 2 39763 39705 38549 602458 7350 43689 32413 11276 110
16 38192 37847 37302 603717 7160 42644 31033 11611 147
30 40689 40592 39581 607249 8159 43899 32530 11369 -2
June 13p 37036 36741 35768 602237 6773 42154 30263 11891 1
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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
1
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 base4
----------------------------------------------------------------------------------
2000-May 41618 41256 40646 573395
June 39404 38925 38287 574811
July 39930 39360 38786 577493
Aug. 39509 38930 38505 576664
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 594871
May p 39464 39251 38443 598273
Two weeks ending
2001-Apr. 18 37590 37548 36394 594929
May 2 39828 39770 38614 595342
16 38267 37921 37377 596884
30 40777 40680 39669 600298
June 13p 37125 36830 35857 595231
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: June 14, 2001