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6A. Reserves of Depository Institutions, Federal Reserve Bank Credit, and Related Items, Year-End 1984-2007 and Month-End 2007
Millions of dollars
Period Factors supplying reserve funds Factors absorbing reserve funds Reserve balances with Federal Reserve Banks6
Federal Reserve Bank credit outstanding Gold stock Special drawing rights certificate account   Treasury currency outstanding3    Currency in circulation Reverse repurchase agreements4 Treasury cash holdings5 Deposits with Federal Reserve Banks, other than reserve balances Required clearing balances Other Federal Reserve liabilities and capital
Securities held outright1 Repurchase agreements2 Loans Float Other Federal Reserve assets Total Treasury Foreign Other
1984 167,612 2,015 3,577 833 12,347 186,384 11,096 4,618 16,418 183,796 0 513 5,316 253 867 1,126 5,952 20,693
 
1985 186,025 5,223 3,060 988 15,302 210,598 11,090 4,718 17,075 197,488 0 550 9,351 480 1,041 1,490 5,940 27,141
1986 205,454 16,005 1,565 1,261 17,475 241,760 11,084 5,018 17,567 211,995 0 447 7,588 287 917 1,812 6,088 46,295
1987 226,459 4,961 3,815 811 15,837 251,883 11,078 5,018 18,177 230,205 0 454 5,313 244 1,027 1,687 7,129 40,097
1988 240,628 6,861 2,170 1,286 18,803 269,748 11,060 5,018 18,799 247,649 0 395 8,656 347 548 1,605 7,683 37,742
1989 233,300 2,117 481 1,093 39,631 276,622 11,059 8,518 19,628 260,456 0 450 6,217 589 1,298 1,618 8,486 36,713
 
1990 241,431 18,354 190 2,566 39,880 302,421 11,058 10,018 20,402 286,963 0 561 8,960 369 242 1,960 8,147 36,698
1991 272,531 15,898 218 1,026 34,524 324,197 11,059 10,018 21,014 307,756 0 636 17,697 968 1,706 3,946 8,113 25,467
1992 300,423 8,094 675 3,350 30,278 342,820 11,056 8,018 21,447 334,701 0 508 7,492 206 372 5,897 7,984 26,182
1993 336,654 13,212 94 963 33,394 384,317 11,053 8,018 22,095 365,271 0 377 14,809 386 397 6,332 9,292 28,619
1994 368,156 10,590 223 740 33,441 413,150 11,051 8,018 22,994 403,843 0 335 7,161 250 876 4,196 11,959 26,593
 
1995 380,831 13,862 135 231 33,483 428,543 11,050 10,168 24,003 424,244 0 270 5,979 386 932 5,167 12,342 24,444
1996 393,132 21,583 85 5,297 32,222 452,319 11,048 9,718 24,966 450,648 0 249 7,742 167 892 6,601 13,829 17,923
1997 431,420 23,840 2,035 561 32,044 489,901 11,047 9,200 25,543 482,327 0 225 5,444 457 900 6,679 15,500 24,159
1998 452,478 30,376 17 1,009 37,692 521,573 11,046 9,200 26,270 517,484 0 85 6,086 167 1,605 6,781 16,354 19,525
1999 478,144 140,640 233 407 34,799 654,223 11,048 6,200 28,013 628,359 0 109 28,402 71 1,261 7,482 17,256 16,545
 
2000 511,833 43,375 110 795 36,896 593,009 11,046 2,200 31,643 593,694 0 450 5,149 216 1,382 6,332 17,962 12,713
2001 551,685 50,250 34 698 36,885 639,552 11,045 2,200 33,017 643,301 0 425 6,645 61 820 8,525 17,083 8,953
2002 629,416 39,500 40 832 38,574 708,363 11,043 2,200 34,597 687,518 21,091 367 4,420 136 1,152 10,534 18,977 12,007
2003 666,665 43,750 62 211 40,214 750,901 11,043 2,200 35,468r 724,187r 25,652 321 5,723 162 717 11,829 19,793 11,229
2004 717,819 33,000 43 927 42,161 793,950 11,045 2,200 36,434 754,877 30,783 270 5,912 80 1,285 9,963 26,378 14,080
 
2005 744,215 46,750 72 891 39,319 831,247 11,043 2,200 36,540 794,014 30,505 202 4,573 83 2,144 8,650r 30,466 10,393
2006 778,915 40,750 67 -326 39,885 859,290 11,041 2,200 38,206r 820,176r 29,615 252 4,708 98 958 6,842 36,231 11,857
2007 740,611 46,500 48,636 -8 66,308 902,048 11,041 2,200 38,681 828,938 43,985 259 16,120 96 1,830 6,615 41,975 14,152
 
2007
Jan 778,863 32,000 1,326 -1,482 40,335 851,042 11,041 2,200 38,254 802,599 32,379 175 6,053 90 285 6,836 36,727 17,392
Feb 780,793 45,250 22 -1,012 37,940 862,993 11,041 2,200 38,305 808,078 39,645 204 5,194 91 274 6,738 38,147 16,168
Mar 780,901 33,250 27 -869 40,048 853,357 11,041 2,200 38,371 805,586 37,283 301 4,245 91 224 6,990 38,912 11,338
Apr 787,188 51,500 70 102 40,986 879,846 11,041 2,200 38,414 806,998 37,389 299 29,504 95 316 6,508 39,069 11,322
May 790,272 35,750 115 -622 38,759 864,274 11,041 2,200 38,462 814,007 34,817 286 5,340 93 256 6,580 39,275 15,322
Jun 790,522 25,250 204 -1,273 40,610 855,313 11,041 2,200 38,521 812,794 32,349 306 4,649 197 210 6,395 39,277 10,898
Jul 790,800 30,250 247 -1,164 41,471 861,604 11,041 2,200 38,541 813,387 32,970 300 5,126 94 305 6,466 39,667 15,071
Aug 779,642 38,500 1,342 -714 38,905 857,674 11,041 2,200 38,595 815,020 35,774 329 4,579 94 330 6,613 40,612 6,158
Sep 779,632 44,750 202 -729 41,355 865,210 11,041 2,200 38,639 810,607 35,689 336 5,539 112 245 6,469 41,548 16,545
Oct 779,586 48,500 92 -745 42,054 869,487 11,041 2,200 38,695 815,303 38,055 301 4,307 601 287 6,586 41,849 14,134
Nov 779,701 47,500 33 -814 40,545 866,965 11,041 2,200 38,765 817,259 35,916 266 4,669 97 285 6,486 42,571 11,421
Dec 740,611 46,500 48,636 -8 66,308 902,048 11,041 2,200 38,681 828,938 43,985 259 16,120 96 1,830 6,615 41,975 14,152

Note: Components may not sum to totals because of rounding.  Return to table

1. Includes U.S. Treasury and federal agency securities. U.S. Treasury securities include securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. Federal agency securities are included at face value.  Return to table
2. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.  Return to table
3. Includes currency and coin (other than gold) issued directly by the Treasury. The largest components are fractional and dollar coins. For details see "U.S. Currency and Coin Outstanding in Circulation," Treasury Bulletin.  Return to table
4. Cash value of agreements, which are collateralized by U.S. Treasury securities.  Return to table
5. 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
6. Excludes required clearing balances and adjustments to compensate for float.   Return to table
r Revised.  Return to table

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6B. Reserves of Depository Institutions, Federal Reserve Bank Credit, and Related Items, Year-End 1918-1983
Millions of dollars
Period Factors supplying reserve funds Factors absorbing reserve funds Member bank reserves9
Federal Reserve Bank credit outstanding  Gold stock6   Special drawing rights certificate account Treasury currency outstanding7 Currency in circulation Treasury cash holdings8 Deposits with Federal Reserve Banks, other than reserve balances Other Federal Reserve accounts5 Required clearing balances Other Federal Reserve liabilities and capital5
Securities held outright1 Repurchase agreements2 Loans Float3 All other4 Other Federal Reserve assets5 Total Treasury Foreign    Other    With Federal Reserve Banks Currency and coin10 Required11 Excess11,12 
1918 239 0 1,766 199 294 0 2,498 2,873 ... 1,795 4,951 288 51 96 25 118 0 0 1,636 0 1,585 51
1919 300 0 2,215 201 575 0 3,292 2,707 ... 1,707 5,091 385 51 73 28 208 0 0 1,890 0 1,822 68
 
1920 287 0 2,687 119 262 0 3,355 2,639 ... 1,709 5,325 218 57 5 18 298 0 0 1,781 0 0 0
1921 234 0 1,144 40 146 0 1,563 3,373 ... 1,842 4,403 214 96 12 15 285 0 0 1,753 0 1,654 99
1922 436 0 618 78 273 0 1,405 3,642 ... 1,958 4,530 225 11 3 26 276 0 0 1,934 0 0 0
1923 80 54 723 27 355 0 1,238 3,957 ... 2,009 4,757 213 38 4 19 275 0 0 1,898 0 1,884 14
1924 536 4 320 52 390 0 1,302 4,212 ... 2,025 4,760 211 51 19 20 258 0 0 2,220 0 2,161 59
 
1925 367 8 643 63 378 0 1,459 4,112 ... 1,977 4,817 203 16 8 21 272 0 0 2,212 0 2,256 -44
1926 312 3 637 45 384 0 1,381 4,205 ... 1,991 4,808 201 17 46 19 293 0 0 2,194 0 2.250 -56
1927 560 57 582 63 393 0 1,655 4,092 ... 2,006 4,716 208 18 5 21 301 0 0 2,487 0 2,424 63
1928 197 31 1,056 24 500 0 1,809 3,854 ... 2,012 4,686 202 23 6 21 348 0 0 2,389 0 2,430 -41
1929 488 23 632 34 405 0 1,583 3,997 ... 2,022 4,578 216 29 6 24 393 0 0 2,355 0 2,428 -73
 
1930 686 43 251 21 372 0 1,373 4,306 ... 2,027 4,603 211 19 6 22 375 0 0 2,471 0 2,375 96
1931 775 42 638 20 378 0 1,853 4,173 ... 2,035 5,360 222 54 79 31 354 0 0 1,961 0 1,994 -33
1932 1,851 4 235 14 41 0 2,145 4,226 ... 2,204 5,388 272 8 19 24 355 0 0 2,509 0 1,933 576
1933 2,435 2 98 15 137 0 2,688 4,036 ... 2,303 5,519 284 3 4 128 360 0 0 2,729 0 1,870 859
1934 2,430 0 7 5 21 0 2,463 8,238 ... 2,511 5,536 3,029 121 20 169 241 0 0 4,096 0 2,282 1,814
 
1935 2,430 1 5 12 38 0 2,486 10,125 ... 2,476 5,882 2,566 544 29 226 253 0 0 5,587 0 2,743 2,844
1936 2,430 0 3 39 28 0 2,500 11,258 ... 2,532 6,543 2,376 244 99 160 261 0 0 6,606 0 4,622 1,984
1937 2,564 0 10 19 19 0 2,612 12,760 ... 2,637 6,550 3,619 142 172 235 263 0 0 7,027 0 5,815 1,212
1938 2,564 0 4 17 16 0 2,601 14,512 ... 2,798 6,856 2,706 923 199 242 260 0 0 8,724 0 5,519 3,205
1939 2,484 0 7 91 11 0 2,593 17,644 ... 2,963 7,598 2,409 634 397 256 251 0 0 11,653 0 6,444 5,209
 
1940 2,184 0 3 80 8 0 2,274 21,995 ... 3,087 8,732 2,213 368 1,133 599 284 0 0 4,026 0 7,411 6,615
1941 2,254 0 3 94 10 0 2,361 22,737 ... 3,247 11,160 2,215 867 774 586 291 0 0 12,450 0 9,365 3,085
1942 6,189 0 6 471 14 0 6,679 22,726 ... 3,648 15,410 2,193 799 793 485 256 0 0 13,117 0 11,129 1,988
1943 11,543 0 5 681 10 0 12,239 21,938 ... 4,094 20,499 2,303 579 1,360 356 339 0 0 12,886 0 11,650 1,236
1944 18,846 0 80 815 4 0 19,745 20,619 ... 4,131 25,307 2,375 440 1,204 394 402 0 0 14,373 0 12,748 1,625
 
1945 24,252 0 249 578 2 0 15,091 20,065 ... 4,339 28,515 2,287 977 862 446 495 0 0 15,915 0 14,457 1,458
1946 23,350 0 163 580 1 0 24,093 20,529 ... 4,562 28,952 2,272 393 508 314 607 0 0 16,139 0 15,577 562
1947 22,559 0 85 535 1 0 23,181 22,754 ... 4,562 28,868 1,336 870 392 569 563 0 0 17,899 0 16,400 1,499
1948 23,333 0 223 541 1 0 24,097 24,244 ... 4,589 28,224 1,325 1,123 642 547 590 0 0 20,479 0 19,277 1,202
1949 18,885 0 78 534 2 0 19,499 24,427 ... 4,598 27,600 1,312 821 767 750 106 0 0 16,568 0 15,550 1,018
 
1950 20,725 53 67 1,368 3 0 22,216 22,706 ... 4,636 27,741 1,293 668 895 565 714 0 0 17,681 0 16,509 1,172
1951 23,605 196 19 1,184 5 0 25,009 22,695 ... 4,709 29,206 1,270 247 526 363 746 0 0 20,056 0 19,667 389
1952 24,034 663 156 967 4 0 25,825 23,187 ... 4,812 30,433 1,270 389 550 455 777 0 0 19,950 0 20,520 -570
1953 25,318 598 28 935 2 0 26,880 22,030 ... 4,894 30,781 761 346 423 493 839 0 0 20,160 0 19,397 763
1954 24,888 44 143 808 1 0 25,885 21,713 ... 4,985 30,509 796 563 490 441 907 0 0 18,876 0 18,618 258
 
1955 24,391 394 108 1,585 29 0 26,507 21,690 ... 5,008 31,158 767 394 402 554 925 0 0 19,005 0 18,903 102
1956 24,610 305 50 1,665 70 0 26,699 21,949 ... 5,066 31,790 775 441 322 426 901 0 0 19,059 0 19,089 -30
1957 23,719 519 55 1,424 66 0 25,784 22,781 ... 5,146 31,834 761 481 356 246 998 0 0 19,034 0 19,091 -57
1958 26,252 95 64 1,296 49 0 27,755 20,534 ... 5,234 32,193 683 358 272 391 1,122 0 0 18,504 0 18,574 -70
1959 26,607 41 458 1,590 75 0 28,771 19,456 ... 5,311 32,591 391 504 345 694 841 0 0 18,174 310 18,619 -135
 
1960 26,984 400 33 1,847 74 0 29,338 17,767 ... 5,398 32,869 377 485 217 533 941 0 0 17,081 2,544 18,988 637
1961 30,478 159 130 2,300 51 0 31,362 16,889 ... 5,585 33,918 422 465 279 320 1,044 0 0 17,387 2,544 18,988 96
1962 28,722 342 38 2,903 110 0 33,871 15,978 ... 5,567 35,338 380 597 247 393 1,007 0 0 17,454 3,262 20,071 645
1963 33,582 11 63 2,600 162 0 36,418 15,513 ... 5,578 37,692 361 880 171 291 1,065 0 0 17,049 4,099 20,677 471
1964 36,506 538 186 2,606 94 0 39,930 15,388 ... 5,405 39,619 612 820 229 321 1,036 0 0 18,086 4,151 21,663 574
 
1965 40,478 290 137 2,248 187 0 43,340 13,733 ... 5,575 42,056 760 668 150 355 211 0 0 18,447 4,163 22,848 -238
1966 43,655 661 173 2,495 193 0 47,177 13,159 ... 6,317 44,663 1,176 416 174 588 -147 0 0 19,779 4,310 24,321 -232
1967 48,980 170 141 2,576 164 0 52,031 11,982 ... 6,784 47,226 1,344 1,123 135 563 -773 0 0 21,092 4,631 25,905 -182
1968 52,937 0 186 3,443 58 0 56,624 10,367 ... 6,795 50,961 695 703 216 747 -1,353 0 0 21,818 4,921 27,439 -700
1969 57,154 0 183 3,440 64 2,743 64,584 10,367 ... 6,852 53,950 596 1,312 134 807 0 0 1,919 22,085 5,187 28,173 -901
 
1970 62,142 0 335 4,261 57 1,123 67,918 10,732 400 7,147 57,903 431 1,156 148 1,233 0 0 1,986 24,150 5,423 30,033 -460
1971 69,481 1,323 39 4,343 261 1,068 76,515 10,132 400 7,710 61,068 460 2,020 294 999 0 0 2,131 27,788 5,743 32,496 1,035
1972 71,119 111 1,981 3,974 106 1,260 78,551 10,410 400 8,313 66,516 345 1,855 325 840 0 0 2,143 25,647 6,216 32,044 9812
1973 80,395 100 1,258 3,099 68 1,152 86,072 11,567 400 8,716 72,497 317 2,542 251 1,41913 0 0 2,669 27,060 6,781 35,268 -1,360
1974 84,760 954 299 2,001 999 3,195 92,208 11,652 400 9,253 79,743 185 2,113 418 1,27513 0 0 2,935 25,843 7,370 37,011 -3,798
 
1975 92,789 1,335 211 3,688 1,126 3,312 102,461 11,599 500 10,218 86,547 483 7,285 353 1,090 0 0 2,968 26,052 8,036 35,197 -1,10314
1976 100,062 4,031 25 2,601 991 3,182 110,892 11,598 1,200 10,810 93,717 460 10,393 352 1,357 0 0 3,063 25,158 8,628 35,461 -1,535
1977 108,922 2,352 265 3,810 954 2,442 118,745 11,718 1,250 11,331 103,811 392 7,114 379 1,187 0 0 3,292 26,870 9,421 37,615 -1,265
1978 117,374 1,217 1,174 6,432 587 4,543 131,327 11,671 1,300 11,831 114,645 240 4,196 368 1,256 0 0 4,275 31,152 10,538 42,694 -893
1979 124,507 1,660 1,454 6,767 704 5,613 140,705 11,172 1,800 13,083 125,600 494 4,075 429 1,412 0 0 4,957 29,792 11,429 44,217 -2,835
 
1980 128,038 2,554 1,809 4,467 776 8,739 146,383 11,160 2,518 13,427 136,829 441 3,062 411 617 0 0 4,671 27,456 13,654 40,558 675
1981 136,863 3,485 1,601 1,762 195 9,230 153,136 11,151 3,318 13,687 144,774 443 4,301 505 781 0 117 5,261 25,111 15,576 42,145 -1,442
1982 144,544 4,293 717 2,735 1,480 9,890 63,659 11,148 4,618 13,786 154,908 429 5,033 328 1,033 0 436 4,990 26,053 16,666 41,391 1,328
1983 159,203 1,592 918 1,605 418 8,728 172,464 11,121 4,618 15,732 171,935 479 3,661 191 851 0 1,013 5,392 20,413 17,821 39,179 -945

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; see 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 see "U.S. Currency and Coin Outstanding and in Circulation," Treasury Bulletin.  Return to table

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

. . . Not applicable.  Return to table

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