Annual Report 2015
Period | Factors supplying reserve funds | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Federal Reserve Bank credit outstanding | Gold stock 6 |
Special drawing rights certificate account |
Treasury currency outstanding 7 |
|||||||
Securities held outright 1 |
Repurchase agreements 2 |
Loans | Float 3 | All other 4 |
Other Federal Reserve assets 5 |
Total | ||||
1918 | 239 | 0 | 1,766 | 199 | 294 | 0 | 2,498 | 2,873 | n/a | 1,795 |
1919 | 300 | 0 | 2,215 | 201 | 575 | 0 | 3,292 | 2,707 | n/a | 1,707 |
1920 | 287 | 0 | 2,687 | 119 | 262 | 0 | 3,355 | 2,639 | n/a | 1,709 |
1921 | 234 | 0 | 1,144 | 40 | 146 | 0 | 1,563 | 3,373 | n/a | 1,842 |
1922 | 436 | 0 | 618 | 78 | 273 | 0 | 1,405 | 3,642 | n/a | 1,958 |
1923 | 80 | 54 | 723 | 27 | 355 | 0 | 1,238 | 3,957 | n/a | 2,009 |
1924 | 536 | 4 | 320 | 52 | 390 | 0 | 1,302 | 4,212 | n/a | 2,025 |
1925 | 367 | 8 | 643 | 63 | 378 | 0 | 1,459 | 4,112 | n/a | 1,977 |
1926 | 312 | 3 | 637 | 45 | 384 | 0 | 1,381 | 4,205 | n/a | 1,991 |
1927 | 560 | 57 | 582 | 63 | 393 | 0 | 1,655 | 4,092 | n/a | 2,006 |
1928 | 197 | 31 | 1,056 | 24 | 500 | 0 | 1,809 | 3,854 | n/a | 2,012 |
1929 | 488 | 23 | 632 | 34 | 405 | 0 | 1,583 | 3,997 | n/a | 2,022 |
1930 | 686 | 43 | 251 | 21 | 372 | 0 | 1,373 | 4,306 | n/a | 2,027 |
1931 | 775 | 42 | 638 | 20 | 378 | 0 | 1,853 | 4,173 | n/a | 2,035 |
1932 | 1,851 | 4 | 235 | 14 | 41 | 0 | 2,145 | 4,226 | n/a | 2,204 |
1933 | 2,435 | 2 | 98 | 15 | 137 | 0 | 2,688 | 4,036 | n/a | 2,303 |
1934 | 2,430 | 0 | 7 | 5 | 21 | 0 | 2,463 | 8,238 | n/a | 2,511 |
1935 | 2,430 | 1 | 5 | 12 | 38 | 0 | 2,486 | 10,125 | n/a | 2,476 |
1936 | 2,430 | 0 | 3 | 39 | 28 | 0 | 2,500 | 11,258 | n/a | 2,532 |
1937 | 2,564 | 0 | 10 | 19 | 19 | 0 | 2,612 | 12,760 | n/a | 2,637 |
1938 | 2,564 | 0 | 4 | 17 | 16 | 0 | 2,601 | 14,512 | n/a | 2,798 |
1939 | 2,484 | 0 | 7 | 91 | 11 | 0 | 2,593 | 17,644 | n/a | 2,963 |
1940 | 2,184 | 0 | 3 | 80 | 8 | 0 | 2,274 | 21,995 | n/a | 3,087 |
1941 | 2,254 | 0 | 3 | 94 | 10 | 0 | 2,361 | 22,737 | n/a | 3,247 |
1942 | 6,189 | 0 | 6 | 471 | 14 | 0 | 6,679 | 22,726 | n/a | 3,648 |
1943 | 11,543 | 0 | 5 | 681 | 10 | 0 | 12,239 | 21,938 | n/a | 4,094 |
1944 | 18,846 | 0 | 80 | 815 | 4 | 0 | 19,745 | 20,619 | n/a | 4,131 |
1945 | 24,262 | 0 | 249 | 578 | 2 | 0 | 25,091 | 20,065 | n/a | 4,339 |
1946 | 23,350 | 0 | 163 | 580 | 1 | 0 | 24,093 | 20,529 | n/a | 4,562 |
1947 | 22,559 | 0 | 85 | 535 | 1 | 0 | 23,181 | 22,754 | n/a | 4,562 |
1948 | 23,333 | 0 | 223 | 541 | 1 | 0 | 24,097 | 24,244 | n/a | 4,589 |
1949 | 18,885 | 0 | 78 | 534 | 2 | 0 | 19,499 | 24,427 | n/a | 4,598 |
1950 | 20,725 | 53 | 67 | 1,368 | 3 | 0 | 22,216 | 22,706 | n/a | 4,636 |
1951 | 23,605 | 196 | 19 | 1,184 | 5 | 0 | 25,009 | 22,695 | n/a | 4,709 |
1952 | 24,034 | 663 | 156 | 967 | 4 | 0 | 25,825 | 23,187 | n/a | 4,812 |
1953 | 25,318 | 598 | 28 | 935 | 2 | 0 | 26,880 | 22,030 | n/a | 4,894 |
1954 | 24,888 | 44 | 143 | 808 | 1 | 0 | 25,885 | 21,713 | n/a | 4,985 |
1955 | 24,391 | 394 | 108 | 1,585 | 29 | 0 | 26,507 | 21,690 | n/a | 5,008 |
1956 | 24,610 | 305 | 50 | 1,665 | 70 | 0 | 26,699 | 21,949 | n/a | 5,066 |
1957 | 23,719 | 519 | 55 | 1,424 | 66 | 0 | 25,784 | 22,781 | n/a | 5,146 |
1958 | 26,252 | 95 | 64 | 1,296 | 49 | 0 | 27,755 | 20,534 | n/a | 5,234 |
1959 | 26,607 | 41 | 458 | 1,590 | 75 | 0 | 28,771 | 19,456 | n/a | 5,311 |
1960 | 26,984 | 400 | 33 | 1,847 | 74 | 0 | 29,338 | 17,767 | n/a | 5,398 |
1961 | 28,722 | 159 | 130 | 2,300 | 51 | 0 | 31,362 | 16,889 | n/a | 5,585 |
1962 | 30,478 | 342 | 38 | 2,903 | 110 | 0 | 33,871 | 15,978 | n/a | 5,567 |
1963 | 33,582 | 11 | 63 | 2,600 | 162 | 0 | 36,418 | 15,513 | n/a | 5,578 |
1964 | 36,506 | 538 | 186 | 2,606 | 94 | 0 | 39,930 | 15,388 | n/a | 5,405 |
1965 | 40,478 | 290 | 137 | 2,248 | 187 | 0 | 43,340 | 13,733 | n/a | 5,575 |
1966 | 43,655 | 661 | 173 | 2,495 | 193 | 0 | 47,177 | 13,159 | n/a | 6,317 |
1967 | 48,980 | 170 | 141 | 2,576 | 164 | 0 | 52,031 | 11,982 | n/a | 6,784 |
1968 | 52,937 | 0 | 186 | 3,443 | 58 | 0 | 56,624 | 10,367 | n/a | 6,795 |
1969 | 57,154 | 0 | 183 | 3,440 | 64 | 2,743 | 63,584 | 10,367 | n/a | 6,852 |
1970 | 62,142 | 0 | 335 | 4,261 | 57 | 1,123 | 67,918 | 10,732 | 400 | 7,147 |
1971 | 69,481 | 1,323 | 39 | 4,343 | 261 | 1,068 | 76,515 | 10,132 | 400 | 7,710 |
1972 | 71,119 | 111 | 1,981 | 3,974 | 106 | 1,260 | 78,551 | 10,410 | 400 | 8,313 |
1973 | 80,395 | 100 | 1,258 | 3,099 | 68 | 1,152 | 86,072 | 11,567 | 400 | 8,716 |
1974 | 84,760 | 954 | 299 | 2,001 | 999 | 3,195 | 92,208 | 11,652 | 400 | 9,253 |
1975 | 92,789 | 1,335 | 211 | 3,688 | 1,126 | 3,312 | 102,461 | 11,599 | 500 | 10,218 |
1976 | 100,062 | 4,031 | 25 | 2,601 | 991 | 3,182 | 110,892 | 11,598 | 1,200 | 10,810 |
1977 | 108,922 | 2,352 | 265 | 3,810 | 954 | 2,442 | 118,745 | 11,718 | 1,250 | 11,331 |
1978 | 117,374 | 1,217 | 1,174 | 6,432 | 587 | 4,543 | 131,327 | 11,671 | 1,300 | 11,831 |
1979 | 124,507 | 1,660 | 1,454 | 6,767 | 704 | 5,613 | 140,705 | 11,172 | 1,800 | 13,083 |
1980 | 128,038 | 2,554 | 1,809 | 4,467 | 776 | 8,739 | 146,383 | 11,160 | 2,518 | 13,427 |
1981 | 136,863 | 3,485 | 1,601 | 1,762 | 195 | 9,230 | 153,136 | 11,151 | 3,318 | 13,687 |
1982 | 144,544 | 4,293 | 717 | 2,735 | 1,480 | 9,890 | 163,659 | 11,148 | 4,618 | 13,786 |
1983 | 159,203 | 1,592 | 918 | 1,605 | 418 | 8,728 | 172,464 | 11,121 | 4,618 | 15,732 |
Note: For a description of figures and discussion of their significance, see Banking and Monetary Statistics, 1941-1970 (Board of Governors of the Federal Reserve System, 1976), pp. 507-23. Components may not sum to totals because of rounding.
1. In 1969 and thereafter, includes securities loaned--fully guaranteed by U.S. government securities pledged with Federal Reserve Banks--and excludes securities sold and scheduled to be bought back under matched sale-purchase transactions. On September 29, 1971, and thereafter, includes federal agency issues bought outright. Return to table
2. On December 1, 1966, and thereafter, includes federal agency obligations held under repurchase agreements. Return to table
3. In 1960 and thereafter, figures reflect a minor change in concept; refer to Federal Reserve Bulletin, vol. 47 (February 1961), p. 164. Return to table
4. Principally acceptances and, until August 21, 1959, industrial loans, the authority for which expired on that date. Return to table
5. For the period before April 16, 1969, includes the total of Federal Reserve capital paid in, surplus, other capital accounts, and other liabilities and accrued dividends, less the sum of bank premises and other assets, and is reported as "Other Federal Reserve accounts"; thereafter, "Other Federal Reserve assets" and "Other Federal Reserve liabilities and capital" are shown separately. Return to table
6. Before January 30, 1934, includes gold held in Federal Reserve Banks and in circulation. Return to table
7. Includes currency and coin (other than gold) issued directly by the Treasury. The largest components are fractional and dollar coins. For details refer to "U.S. Currency and Coin Outstanding and in Circulation," Treasury Bulletin. Return to table
n/a Not applicable.
Period | Factors absorbing reserve funds | Member bank reserves 9 | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Currency in circulation |
Treasury cash holdings 8 |
Deposits with Federal Reserve Banks, other than reserve balances |
Other Federal Reserve accounts5 |
Required clearing balances |
Other Federal Reserve liabilities and capital5 |
|||||||
Treasury | Foreign | Other | With Federal Reserve Banks |
Currency and coin 10 |
Required 11 | Excess11, 12 | ||||||
1918 | 4,951 | 288 | 51 | 96 | 25 | 118 | 0 | 0 | 1,636 | n/a | 1,585 | 51 |
1919 | 5,091 | 385 | 31 | 73 | 28 | 208 | 0 | 0 | 1,890 | n/a | 1,822 | 68 |
1920 | 5,325 | 218 | 57 | 5 | 18 | 298 | 0 | 0 | 1,781 | n/a | n/a | n/a |
1921 | 4,403 | 214 | 96 | 12 | 15 | 285 | 0 | 0 | 1,753 | n/a | 1,654 | 99 |
1922 | 4,530 | 225 | 11 | 3 | 26 | 276 | 0 | 0 | 1,934 | n/a | n/a | n/a |
1923 | 4,757 | 213 | 38 | 4 | 19 | 275 | 0 | 0 | 1,898 | n/a | 1,884 | 14 |
1924 | 4,760 | 211 | 51 | 19 | 20 | 258 | 0 | 0 | 2,220 | n/a | 2,161 | 59 |
1925 | 4,817 | 203 | 16 | 8 | 21 | 272 | 0 | 0 | 2,212 | n/a | 2,256 | -44 |
1926 | 4,808 | 201 | 17 | 46 | 19 | 293 | 0 | 0 | 2,194 | n/a | 2,250 | -56 |
1927 | 4,716 | 208 | 18 | 5 | 21 | 301 | 0 | 0 | 2,487 | n/a | 2,424 | 63 |
1928 | 4,686 | 202 | 23 | 6 | 21 | 348 | 0 | 0 | 2,389 | n/a | 2,430 | -41 |
1929 | 4,578 | 216 | 29 | 6 | 24 | 393 | 0 | 0 | 2,355 | n/a | 2,428 | -73 |
1930 | 4,603 | 211 | 19 | 6 | 22 | 375 | 0 | 0 | 2,471 | n/a | 2,375 | 96 |
1931 | 5,360 | 222 | 54 | 79 | 31 | 354 | 0 | 0 | 1,961 | n/a | 1,994 | -33 |
1932 | 5,388 | 272 | 8 | 19 | 24 | 355 | 0 | 0 | 2,509 | n/a | 1,933 | 576 |
1933 | 5,519 | 284 | 3 | 4 | 128 | 360 | 0 | 0 | 2,729 | n/a | 1,870 | 859 |
1934 | 5,536 | 3,029 | 121 | 20 | 169 | 241 | 0 | 0 | 4,096 | n/a | 2,282 | 1,814 |
1935 | 5,882 | 2,566 | 544 | 29 | 226 | 253 | 0 | 0 | 5,587 | n/a | 2,743 | 2,844 |
1936 | 6,543 | 2,376 | 244 | 99 | 160 | 261 | 0 | 0 | 6,606 | n/a | 4,622 | 1,984 |
1937 | 6,550 | 3,619 | 142 | 172 | 235 | 263 | 0 | 0 | 7,027 | n/a | 5,815 | 1,212 |
1938 | 6,856 | 2,706 | 923 | 199 | 242 | 260 | 0 | 0 | 8,724 | n/a | 5,519 | 3,205 |
1939 | 7,598 | 2,409 | 634 | 397 | 256 | 251 | 0 | 0 | 11,653 | n/a | 6,444 | 5,209 |
1940 | 8,732 | 2,213 | 368 | 1,133 | 599 | 284 | 0 | 0 | 14,026 | n/a | 7,411 | 6,615 |
1941 | 11,160 | 2,215 | 867 | 774 | 586 | 291 | 0 | 0 | 12,450 | n/a | 9,365 | 3,085 |
1942 | 15,410 | 2,193 | 799 | 793 | 485 | 256 | 0 | 0 | 13,117 | n/a | 11,129 | 1,988 |
1943 | 20,449 | 2,303 | 579 | 1,360 | 356 | 339 | 0 | 0 | 12,886 | n/a | 11,650 | 1,236 |
1944 | 25,307 | 2,375 | 440 | 1,204 | 394 | 402 | 0 | 0 | 14,373 | n/a | 12,748 | 1,625 |
1945 | 28,515 | 2,287 | 977 | 862 | 446 | 495 | 0 | 0 | 15,915 | n/a | 14,457 | 1,458 |
1946 | 28,952 | 2,272 | 393 | 508 | 314 | 607 | 0 | 0 | 16,139 | n/a | 15,577 | 562 |
1947 | 28,868 | 1,336 | 870 | 392 | 569 | 563 | 0 | 0 | 17,899 | n/a | 16,400 | 1,499 |
1948 | 28,224 | 1,325 | 1123 | 642 | 547 | 590 | 0 | 0 | 20,479 | n/a | 19,277 | 1,202 |
1949 | 27,600 | 1,312 | 821 | 767 | 750 | 706 | 0 | 0 | 16,568 | n/a | 15,550 | 1,018 |
1950 | 27,741 | 1,293 | 668 | 895 | 565 | 714 | 0 | 0 | 17,681 | n/a | 16,509 | 1,172 |
1951 | 29,206 | 1,270 | 247 | 526 | 363 | 746 | 0 | 0 | 20,056 | n/a | 19,667 | 389 |
1952 | 30,433 | 1,270 | 389 | 550 | 455 | 777 | 0 | 0 | 19,950 | n/a | 20,520 | -570 |
1953 | 30,781 | 761 | 346 | 423 | 493 | 839 | 0 | 0 | 20,160 | n/a | 19,397 | 763 |
1954 | 30,509 | 796 | 563 | 490 | 441 | 907 | 0 | 0 | 18,876 | n/a | 18,618 | 258 |
1955 | 31,158 | 767 | 394 | 402 | 554 | 925 | 0 | 0 | 19,005 | n/a | 18,903 | 102 |
1956 | 31,790 | 775 | 441 | 322 | 426 | 901 | 0 | 0 | 19,059 | n/a | 19,089 | -30 |
1957 | 31,834 | 761 | 481 | 356 | 246 | 998 | 0 | 0 | 19,034 | n/a | 19,091 | -57 |
1958 | 32,193 | 683 | 358 | 272 | 391 | 1,122 | 0 | 0 | 18,504 | n/a | 18,574 | -70 |
1959 | 32,591 | 391 | 504 | 345 | 694 | 841 | 0 | 0 | 18,174 | 310 | 18,619 | -135 |
1960 | 32,869 | 377 | 485 | 217 | 533 | 941 | 0 | 0 | 17,081 | 2,544 | 18,988 | 637 |
1961 | 33,918 | 422 | 465 | 279 | 320 | 1,044 | 0 | 0 | 17,387 | 2,823 | 20,114 | 96 |
1962 | 35,338 | 380 | 597 | 247 | 393 | 1,007 | 0 | 0 | 17,454 | 3,262 | 20,071 | 645 |
1963 | 37,692 | 361 | 880 | 171 | 291 | 1,065 | 0 | 0 | 17,049 | 4,099 | 20,677 | 471 |
1964 | 39,619 | 612 | 820 | 229 | 321 | 1,036 | 0 | 0 | 18,086 | 4,151 | 21,663 | 574 |
1965 | 42,056 | 760 | 668 | 150 | 355 | 211 | 0 | 0 | 18,447 | 4,163 | 22,848 | -238 |
1966 | 44,663 | 1,176 | 416 | 174 | 588 | -147 | 0 | 0 | 19,779 | 4,310 | 24,321 | -232 |
1967 | 47,226 | 1,344 | 1,123 | 135 | 653 | -773 | 0 | 0 | 21,092 | 4,631 | 25,905 | -182 |
1968 | 50,961 | 695 | 703 | 216 | 747 | -1,353 | 0 | 0 | 21,818 | 4,921 | 27,439 | -700 |
1969 | 53,950 | 596 | 1,312 | 134 | 807 | 0 | 0 | 1,919 | 22,085 | 5,187 | 28,173 | -901 |
1970 | 57,093 | 431 | 1,156 | 148 | 1,233 | 0 | 0 | 1,986 | 24,150 | 5,423 | 30,033 | -460 |
1971 | 61,068 | 460 | 2,020 | 294 | 999 | 0 | 0 | 2,131 | 27,788 | 5,743 | 32,496 | 1,035 |
1972 | 66,516 | 345 | 1,855 | 325 | 840 | 0 | 0 | 2,143 | 25,647 | 6,216 | 32,044 | 98 |
1973 | 72,497 | 317 | 2,542 | 251 | 1,149 13 | 0 | 0 | 2,669 | 27,060 | 6,781 | 35,268 | -1,360 |
1974 | 79,743 | 185 | 3,113 | 418 | 1,275 13 | 0 | 0 | 2,935 | 25,843 | 7,370 | 37,011 | -3,798 |
1975 | 86,547 | 483 | 7,285 | 353 | 1,090 | 0 | 0 | 2,968 | 26,052 | 8,036 | 35,197 | -1,103 14 |
1976 | 93,717 | 460 | 10,393 | 352 | 1,357 | 0 | 0 | 3,063 | 25,158 | 8,628 | 35,461 | -1,535 |
1977 | 103,811 | 392 | 7,114 | 379 | 1,187 | 0 | 0 | 3,292 | 26,870 | 9,421 | 37,615 | -1,265 |
1978 | 114,645 | 240 | 4,196 | 368 | 1,256 | 0 | 0 | 4,275 | 31,152 | 10,538 | 42,694 | -893 |
1979 | 125,600 | 494 | 4,075 | 429 | 1,412 | 0 | 0 | 4,957 | 29,792 | 11,429 | 44,217 | -2,835 |
1980 | 136,829 | 441 | 3,062 | 411 | 617 | 0 | 0 | 4,671 | 27,456 | 13,654 | 40,558 | 675 |
1981 | 144,774 | 443 | 4,301 | 505 | 781 | 0 | 117 | 5,261 | 25,111 | 15,576 | 42,145 | -1,442 |
1982 | 154,908 | 429 | 5,033 | 328 | 1,033 | 0 | 436 | 4,990 | 26,053 | 16,666 | 41,391 | 1,328 |
1983 | 171,935 | 479 | 3,661 | 191 | 851 | 0 | 1,013 | 5,392 | 20,413 | 17,821 | 39,179 | -945 |
8. Coin and paper currency held by the Treasury, as well as any gold in excess of the gold certificates issued to the Reserve Bank. Return to table
9. In November 1979 and thereafter, includes reserves of member banks, Edge Act corporations, and U.S. agencies and branches of foreign banks. On November 13, 1980, and thereafter, includes reserves of all depository institutions. Return to table
10. Between December 1, 1959, and November 23, 1960, part was allowed as reserves; thereafter, all was allowed. Return to table
11. Estimated through 1958. Before 1929, data were available only on call dates (in 1920 and 1922 the call date was December 29). Since September 12, 1968, the amount has been based on close-of-business figures for the reserve period two weeks before the report date. Return to table
12. For the week ending November 15, 1972, and thereafter, includes $450 million of reserve deficiencies on which Federal Reserve Banks are allowed to waive penalties for a transition period in connection with bank adaptation to Regulation J as amended, effective November 9, 1972. Allowable deficiencies are as follows (beginning with first statement week of quarter, in millions): 1973--Q1, $279; Q2, $172; Q3, $112; Q4, $84; 1974--Q1, $67; Q2, $58. The transition period ended with the second quarter of 1974. Return to table
13. For the period before July 1973, includes certain deposits of domestic nonmember banks and foreign-owned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by nonmember institutions in the Federal Reserve System program of credit restraint. As of December 12, 1974, the amount of voluntary nonmember bank and foreign-agency and branch deposits at Federal Reserve Banks that are associated with marginal reserves is no longer reported. However, two amounts are reported: (1) deposits voluntarily held as reserves by agencies and branches of foreign banks operating in the United States and (2) Eurodollar liabilities. Return to table
14. Adjusted to include waivers of penalties for reserve deficiencies, in accordance with change in Board policy, effective November 19, 1975. Return to table
n/a Not applicable.