Skip to Content
Release Date: February 23, 2012
Release dates |
Historical data |
Data Download Program (DDP) |
About |
Announcements
Current release Other formats:
Screen reader |
ASCII |
PDF (17 KB)
FEDERAL RESERVE statistical release
H.3 (502)
Table 1 For release at 4:30 p.m. Eastern Time
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE February 23, 2012
Adjusted for changes in reserve requirements(1)
Seasonally adjusted unless noted otherwise
Millions of dollars
-----------------------------------------------------------------------------------------------------------------------------------------------
Reserves of depository institutions
---------------------------------------------------------------------------------
Total borrowings
Date Total Nonborrowed Required Excess, Monetary from the
(2) (3) NSA base Federal Reserve,
(4) (5) NSA
------------------------------------------------------------------------------------------------------------------------------------------------
Month(6)
2011-Jan. 1106507 1074261 70040 1036467 2044170 32246
Feb. 1262697 1240764 72686 1190012 2207724 21933
Mar. 1436146 1416264 73985 1362161 2389892 19882
Apr. 1526480 1508637 74514 1451966 2489298 17842
May 1587576 1572431 75072 1512505 2559321 15146
June 1666349 1653106 77615 1588734 2644620 13243
July 1696473 1684077 78344 1618129 2680642 12395
Aug. 1666949 1655115 83584 1583365 2657378 11834
Sep. 1642710 1631135 91718 1550992 2638581 11575
Oct. 1638605 1627394 93287 1545318 2639137 11210
Nov. 1591978 1581637 94059 1497919 2598952 10341
Dec. 1597182 1587656 94865 1502317 2610837 9526
2012-Jan. 1614017 1605403 94466 1519551 2637205 8614
Two weeks ending(7)
2011-Dec. 28 1566874 1557546 95417 1471457 2580955 9328
2012-Jan. 11 1617706 1608721 93918 1523788 2636476 8985
25 1602858 1594341 93572 1509286 2627004 8517
Feb. 8 1633293 1625130 97555 1535738 2662341 8163
22p 1679209 1671217 98353 1580856 2712367 7992
------------------------------------------------------------------------------------------------------------------------------------------------
1. Reserves and monetary base figures incorporate adjustments for discontinuities, or "breaks," associated with regulatory changes in reserve
requirements. (For more information, refer to table 3.)
2. Seasonally adjusted, break-adjusted total reserves equal seasonally adjusted, break-adjusted required reserves plus unadjusted excess
reserves. (Also, refer to footnote 2 in table 2 and footnote 2 in table 3.)
3. Seasonally adjusted, break-adjusted nonborrowed reserves equal seasonally adjusted, break-adjusted total reserves less unadjusted total
borrowings from the Federal Reserve.
4. Excess reserves NSA equals unadjusted total reserves (table 2, column 1) less unadjusted 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, refer to
footnote 3 in table 2 and footnote 4 in table 3.)
6. Prorated averages of biweekly averages.
7. Averages of daily figures.
p preliminary
1
H.3 (502)
Table 1a
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Not seasonally adjusted
Millions of dollars
-------------------------------------------------------------------------------------------------------------------------------
Borrowings from the Federal Reserve(1)
-----------------------------------------------------------------------------------------------------
Date Credit Term
extended to Asset-Backed Other
Total Primary Secondary Seasonal American Securities credit
International Loan extensions
Group, Inc., Facility(3)
net(2)
-------------------------------------------------------------------------------------------------------------------------------
Month(4)
2011-Jan. 32246 51 0 10 8368 23818 0
Feb. 21933 28 0 3 21902 0
Mar. 19882 11 0 6 19864 0
Apr. 17842 14 0 8 17820 0
May 15146 10 1 20 15115 0
June 13243 24 0 42 13178 0
July 12395 7 0 73 12315 0
Aug. 11834 5 0 92 11737 0
Sep. 11575 19 0 81 11474 0
Oct. 11210 19 0 50 11140 0
Nov. 10341 20 0 20 10301 0
Dec. 9526 103 0 23 9400 0
2012-Jan. 8614 27 0 7 8580 0
Two weeks ending(5)
2011-Dec. 28 9328 13 1 26 9289 0
2012-Jan. 11 8985 56 0 14 8916 0
25 8517 5 0 4 8508 0
Feb. 8 8163 26 0 3 8134 0
22p 7992 6 0 0 7987 0
--------------------------------------------------------------------------------------------------------------------------------
1. The Federal Reserve Bank of New York (FRBNY) has extended credit to Maiden Lane LLC, Maiden Lane II LLC, and
Maiden Lane III LLC, as discussed in the notes to the Board's H.4.1 statistical release, "Factors Affecting Reserve Balances
of Depository Institutions and Condition Statement of Federal Reserve Banks." Consistent with generally accepted accounting
principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY
because the FRBNY is the primary beneficiary of the LLCs. As a consequence of this consolidation, the extensions of credit
from the FRBNY to these LLCs are eliminated from the Federal Reserve's balance sheet, and, thus, the loans are not included
in borrowed reserves.
2. As a result of the closing of the American International Group, Inc. (AIG) recapitalization plan on January 14, 2011, the
credit extended to AIG was fully repaid and the Federal Reserve's commitment to lend any further funds was terminated.
Before the closing of the AIG recapitalization plan, this borrowing category included outstanding principal and capitalized
interest under the revolving credit facility net of unamortized deferred commitment fees and allowance for loan restructuring,
and it excluded credit extended to consolidated LLCs as described in footnote 1 above.
3. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities
Loan Facility.
4. Prorated averages of biweekly averages.
5. Averages of daily figures.
p preliminary
1
H.3 (502)
Table 2
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Not adjusted for changes in reserve requirements(1)
Not seasonally adjusted
Millions of dollars
-------------------------------------------------------------------------------------------------------------------------------------------
Reserves of depository institutions Vault cash(5)
-------------------------------------- ------------------------------------
Reserve Used to Net
Date Total Nonborrowed Required Monetary balances Total satisfy Surplus carryover
(2) base with F.R. required (7) of reserve
(3) Banks reserves balances
(4) (6) (8)
-------------------------------------------------------------------------------------------------------------------------------------------
Month(9)
2011-Jan. 1110350 1078104 73883 2047859 1066213 56098 44137 11961
Feb. 1263705 1241772 73693 2210871 1219258 56616 44446 12170
Mar. 1434887 1415006 72727 2394703 1391362 55365 43526 11839
Apr. 1527990 1510148 76025 2496493 1484148 55376 43842 11534
May 1589835 1574689 77330 2566392 1546511 54769 43324 11445
June 1665944 1652700 77209 2647989 1622463 55273 43480 11793
July 1696685 1684289 78556 2683800 1652339 56029 44346 11683
Aug. 1666693 1654859 83328 2656915 1621202 56772 45491 11281
Sep. 1643584 1632009 92592 2637039 1597072 56907 46512 10395
Oct. 1639017 1627806 93699 2637427 1592546 57550 46471 11080
Nov. 1592522 1582181 94603 2602090 1546226 57412 46296 11116
Dec. 1598831 1589305 96514 2618061 1550155 60586 48676 11910
2012-Jan. 1619312 1610698 99761 2640872 1569027 61464 50286 11178
Two weeks ending(10)
2011-Dec. 28 1572818 1563490 101360 2593373 1522187 61018 50631 10388 3311
2012-Jan. 11 1617313 1608329 93525 2641838 1568759 61624 48555 13070 3682
25 1611498 1602982 102212 2630068 1561618 59782 49881 9901 3341
Feb. 8 1641212 1633049 105474 2664310 1586806 65099 54406 10692 3685
22p 1677087 1669096 96231 2714242 1628001 61235 49086 12148 3766
--------------------------------------------------------------------------------------------------------------------------------------------
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.
9. Prorated averages of biweekly averages.
10. Averages of daily figures.
p preliminary
1
H.3 (502)
Table 3
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adjusted for changes in reserve requirements(1)
Not seasonally adjusted
Millions of dollars
----------------------------------------------------------------------------------------------------------
Reserves of depository institutions
----------------------------------------------------------------
Date Total Nonborrowed Required Monetary
(2) (3) base
(4)
----------------------------------------------------------------------------------------------------------
Month(5)
2011-Jan. 1110271 1078025 73804 2045427
Feb. 1263573 1241640 73561 2208453
Mar. 1434659 1414777 72498 2392145
Apr. 1527606 1509763 75640 2493684
May 1589302 1574156 76798 2563466
June 1665318 1652075 76584 2645014
July 1695924 1683529 77795 2680745
Aug. 1665770 1653936 82405 2653782
Sep. 1642536 1630962 91544 2633802
Oct. 1637815 1626605 92497 2634065
Nov. 1591129 1580788 93210 2598604
Dec. 1597432 1587906 95115 2614580
2012-Jan. 1619108 1610494 99557 2638526
Two weeks ending(6)
2011-Dec. 28 1571216 1561888 99759 2589757
2012-Jan. 11 1617037 1608053 93249 2639080
25 1611308 1602791 102022 2627917
Feb. 8 1641105 1632942 105368 2662263
22p 1676939 1668947 96083 2712178
----------------------------------------------------------------------------------------------------------
Note: Current and historical H.3 data are available each week on the Federal Reserve Board's website
(http://www.federalreserve.gov/). Monthly data are available back to January 1959, and weekly data
are available back to January 1975 for most series.
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 4).
3. To adjust required reserves for discontinuities due to regulatory changes 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.
5. Prorated averages of biweekly averages.
6. Averages of daily figures.
p preliminary
Release dates |
Historical data |
Data Download Program (DDP) |
About |
Announcements
Current release Other formats:
Screen reader |
ASCII |
PDF (17 KB)
Statistical releases