Aggregate Reserves of Depository Institutions and the Monetary Base - H.3

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Release Date: November 14, 2019

Table 1

Not seasonally adjusted. Millions of dollars unless otherwise noted.
Date Reserve balances required Reserve balances maintained 4
Reserve balance
requirements 1		 Top of penalty-
free band 2		 Bottom of penalty-
free band 3		 Total Balances
maintained to
satisfy reserve
balance
requirements 5		 Balances
maintained that
exceed the top of
the penalty-
free band 6
Month 7
Oct. 2018 123,821 136,215 111,428 1,830,017 135,731 1,694,286
Nov. 2018 126,537 139,202 113,872 1,775,291 138,700 1,636,591
Dec. 2018 123,703 136,085 111,322 1,691,394 135,698 1,555,696
Jan. 2019 131,130 144,255 118,006 1,639,030 143,615 1,495,414
Feb. 2019 125,129 137,655 112,606 1,645,233 137,128 1,508,105
Mar. 2019 128,423 141,279 115,569 1,661,297 140,926 1,520,371
Apr. 2019 130,120 143,144 117,098 1,559,450 142,641 1,416,809
May 2019 134,717 148,200 121,237 1,511,285 147,792 1,363,493
June 2019 134,908 148,409 121,408 1,535,857 148,025 1,387,832
July 2019 135,103 148,624 121,584 1,513,550 148,191 1,365,359
Aug. 2019 134,639 148,114 121,167 1,520,876 147,555 1,373,321
Sept. 2019 134,707 148,188 121,227 1,439,771 147,498 1,292,273
Oct. 2019 134,998 148,509 121,489 1,481,513 148,050 1,333,462
 
Two weeks ending 8
Sept. 11, 2019 133,706 147,088 120,327 1,472,176 146,083 1,326,093
Sept. 25, 2019 135,204 148,735 121,675 1,397,147 148,212 1,248,935
Oct. 9, 2019 135,516 149,079 121,955 1,487,828 148,609 1,339,219
Oct. 23, 2019 130,460 143,517 117,404 1,464,706 143,079 1,321,627
Nov. 6, 2019 142,357 156,604 128,113 1,503,821 156,121 1,347,700

Footnotes

  1. Equals required reserves (table 2, column 2) less vault cash used to satisfy required reserves (table 2, column 4).
  2. Equals the sum of each institution's top of the penalty-free band. For each institution, the top of the penalty-free band is equal to the institution's reserve balance requirement plus an amount that is the greater of 10 percent of the institution's reserve balance requirement or $50,000.
  3. Equals the sum of each institution's bottom of the penalty-free band. For each institution, the bottom of the penalty-free band is equal to the institution's reserve balance requirement less an amount that is the greater of 10 percent of the institution's reserve balance requirement or $50,000.
  4. Effective February 18, 2014, omits balances held by designated financial market utilities. These balances are reported in the H.4.1 statistical release.
  5. Equals the sum of balances maintained up to the top of each institution's penalty-free band.
  6. Equals the sum of balances maintained that exceed the top of each institution's penalty-free band.
  7. Prorated averages of biweekly averages.
  8. Averages of daily figures.

Table 2

Not seasonally adjusted. Millions of dollars.
Date Reserves Vault cash 2 Monetary base
Total 1 Required Total Used to satisfy
required
reserves 3		 Surplus 4 Total 5 Total balances
maintained 6		 Currency in
circulation
Month 7
Oct. 2018 1,895,798 189,602 75,871 65,781 10,090 3,520,863 1,830,017 1,690,846
Nov. 2018 1,840,828 192,074 76,555 65,537 11,018 3,476,330 1,775,291 1,701,039
Dec. 2018 1,759,856 192,165 80,800 68,462 12,338 3,400,747 1,691,394 1,709,353
Jan. 2019 1,707,256 199,356 80,373 68,226 12,147 3,346,879 1,639,030 1,707,849
Feb. 2019 1,713,683 193,579 81,281 68,450 12,831 3,353,467 1,645,233 1,708,234
Mar. 2019 1,725,938 193,064 76,799 64,640 12,159 3,381,455 1,661,297 1,720,158
Apr. 2019 1,623,904 194,575 76,130 64,455 11,675 3,286,650 1,559,450 1,727,201
May 2019 1,576,309 199,742 75,816 65,024 10,792 3,244,460 1,511,285 1,733,175
June 2019 1,601,309 200,360 76,098 65,452 10,647 3,274,825 1,535,857 1,738,968
July 2019 1,578,615 200,169 76,484 65,065 11,419 3,260,316 1,513,550 1,746,765
Aug. 2019 1,586,844 200,608 78,520 65,969 12,552 3,271,378 1,520,876 1,750,502
Sept. 2019 1,504,805 199,741 76,527 65,035 11,493 3,202,682 1,439,771 1,762,911
Oct. 2019 1,547,136 200,621 76,645 65,623 11,022 3,252,830 1,481,513 1,771,317
 
Two weeks ending 8
Sept. 11, 2019 1,535,578 197,108 76,248 63,402 12,846 3,235,624 1,472,176 1,763,449
Sept. 25, 2019 1,462,392 200,449 76,012 65,245 10,767 3,159,045 1,397,147 1,761,898
Oct. 9, 2019 1,555,865 203,553 78,585 68,037 10,548 3,252,392 1,487,828 1,764,565
Oct. 23, 2019 1,529,486 195,240 76,459 64,780 11,679 3,235,872 1,464,706 1,771,167
Nov. 6, 2019 1,568,205 206,741 74,791 64,384 10,407 3,282,999 1,503,821 1,779,178

Footnotes

  1. Equals total reserve balances maintained (table 1, column 4) plus vault cash used to satisfy required reserves.
  2. Vault cash eligible to satisfy reserve requirements. It includes only vault cash held by institutions not exempt from reserve requirements. Dates refer to the maintenance periods for which the vault cash can be used to satisfy reserve requirements.
  3. All vault cash held during the lagged computation period by "bound" institutions (that is, those whose required reserves exceed their vault cash) plus the amount of vault cash applied during the maintenance period by "nonbound" institutions (that is, those whose vault cash exceeds their required reserves) to satisfy current reserve requirements.
  4. Total vault cash eligible to satisfy reserve requirements, held by institutions not exempt from reserve requirements, minus the amount used to satisfy reserve requirements.
  5. Equals total balances maintained plus currency in circulation.
  6. Effective February 18, 2014, omits balances held by designated financial market utilities. These balances are reported in the H.4.1 statistical release.
  7. Prorated averages of biweekly averages.
  8. Averages of daily figures.

Table 3

Not seasonally adjusted. Millions of dollars.
Date Borrowings from the Federal Reserve Nonborrowed
reserves 1
Total Primary Secondary Seasonal Other credit
extensions
Month 2
Oct. 2018 209 21 0 189 0 1,895,589
Nov. 2018 97 11 0 86 0 1,840,731
Dec. 2018 76 18 0 58 0 1,759,780
Jan. 2019 26 20 0 6 0 1,707,230
Feb. 2019 19 7 0 12 0 1,713,664
Mar. 2019 15 7 0 8 0 1,725,923
Apr. 2019 30 14 0 15 0 1,623,875
May 2019 56 18 0 38 0 1,576,254
June 2019 80 20 0 60 0 1,601,229
July 2019 120 9 0 111 0 1,578,495
Aug. 2019 117 16 0 101 0 1,586,727
Sept. 2019 101 15 0 86 0 1,504,704
Oct. 2019 63 4 0 59 0 1,547,073
 
Two weeks ending 3
Sept. 11, 2019 93 1 0 92 0 1,535,485
Sept. 25, 2019 114 30 0 84 0 1,462,278
Oct. 9, 2019 88 6 0 82 0 1,555,777
Oct. 23, 2019 60 2 0 58 0 1,529,426
Nov. 6, 2019 40 7 0 34 0 1,568,165

Footnotes

  1. Equals total reserves (table 2, column 1) less total borrowings from the Federal Reserve.
  2. Prorated averages of biweekly averages.
  3. Averages of daily figures.
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Last Update: November 14, 2019