Federal Reserve Statistical Release, H.3, Aggregate Reserves of Depository Institutions and the Monetary Base; title with eagle logo links to Statistical Release home page

Release Date: June 01, 2000

Release dates | Historical data | About
Current release  Other formats: Screen reader | ASCII | PDF (23 KB)

 H.3 (502)
Table 1      For Release at 4:30 p.m. Eastern Time
June 1, 2000
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
  Reserves of depository institutions   Borrowings of depository institutions from
the Federal Reserve, NSA
Date total2 nonborrowed3 required excess NSA4 Monetary
base5
total6 adjustment seasonal Special
Liquidity
Facility7
 1999-May                 44360         44233            43105          1256        534029           127            39            89               
      June                42867         42722            41606          1261        537147           145            18           127               
                                                                                                                                                   
      July                41978         41669            40902          1076        541250           309            83           226               
      Aug.                42067         41723            40938          1129        544629           344            72           271               
      Sep.                42113         41774            40916          1197        550218           338            56           282               
                                                                                                                                                   
      Oct.                40943         40661            39790          1153        557753           281            52           221             8 
      Nov.                41198         40962            39864          1334        569657           236           157            71             7 
      Dec.                41520         41200            40209          1311        590652           320           179            67            74 
                                                                                                                                                   
 2000-Jan.                43147         42773            41121          2025        591303           374           296            31            46 
      Feb.                41483         41376            40367          1117        572627           108            45            44            19 
      Mar.                40343         40164            39117          1226        570249           179           101            71             7 
                                                                                                                                                   
      Apr.                40928         40624            39772          1155        573553           304           184           120             0 
      May  p              40987         40625            40035           952        573301           362            86           276               
          
Two weeks ending           
 2000-Apr.  5             41262         41073            39608          1654        571812           189           104            85             0 
           19             39982         39614            38898          1083        573788           368           264           104             0 
                                                                                                                                                   
      May   3             41979         41703            40959          1019        574046           276           120           156               
           17             39944         39641            39030           914        572584           303            65           238               
           31p            41817         41377            40842           975        573859           440           100           340               
 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.)
6. Total borrowing includes borrowing under the extended credit program.
7. Borrowing at the discount window under the terms and conditions established for Century Date Change Special Liquidity Facility in effect
from October 1, 1999 through April 7, 2000.
 

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
  Reserves of depository institutions    Vault cash5  
Date total2 nonborrowed required Monetary base3 Reserve
balances
with F.R
Banks4
total used to
satisfy
required
reserves6
surplus7 Net carryover
of reserve
balances8
 1999-May                  44875         44747         43619        539984        10070         42590         34805          7786   
      June                 42394         42249         41133        542818         8539         42623         33856          8768   
                                                                                                                                    
      July                 41802         41493         40726        548065         7797         44080         34005         10075   
      Aug.                 41871         41527         40742        550860         7802         44603         34069         10533   
      Sep.                 41787         41449         40590        555185         7698         44447         34089         10359   
                                                                                                                                    
      Oct.                 40702         40420         39549        562639         6768         47030         33933         13096   
      Nov.                 40944         40709         39610        579016         6285         50754         34660         16094   
      Dec.                 41643         41323         40332        607926         5260         60499         36384         24116   
                                                                                                                                    
 2000-Jan.                 44304         43931         42279        604769         5207         73899         39097         34802   
      Feb.                 42088         41980         40971        579138         5073         63746         37015         26732   
      Mar.                 39756         39577         38531        576923         6526         48929         33230         15699   
                                                                                                                                    
      Apr.                 40583         40279         39428        577909         7078         46444         33505         12939   
      May  p               41544         41182         40592        579481         7650         44633         33894         10740   
          
Two weeks ending           
 2000-Apr.  5              40511         40322         38856        577085         7188         48594         33323         15271            64 
           19              39600         39232         38516        578091         6715         47133         32885         14248            90 
                                                                                                                                                
      May   3              41869         41593         40849        578052         7491         44591         34378         10213            71 
           17              40844         40542         39930        579052         7617         44116         33227         10889            91 
           31p             42175         41735         41200        580217         7718         45160         34457         10703           115 
                                                                                                                                                
 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
 
 
 
 
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 base
 1999-May                 44908         44781         43652          533116 
      June                42434         42290         41173          535881 
                                                                            
      July                41848         41539         40772          540979 
      Aug.                41923         41579         40794          543869 
      Sep.                41848         41510         40651          548126 
                                                                            
      Oct.                40768         40487         39616          555512 
      Nov.                41016         40780         39682          571891 
      Dec.                41719         41398         40407          600457 
                                                                            
 2000-Jan.                44294         43921         42269          597034 
      Feb.                42099         41991         40982          571798 
      Mar.                39776         39597         38550          570046 
                                                                            
      Apr.                40609         40305         39454          571104 
      May  p              41575         41213         40624          572665 
         
Two weeks ending          
 2000-Apr.  5             40534         40345         38880          570115 
           19             39627         39260         38544          571330 
                                                                            
      May   3             41894         41618         40874          571265 
           17             40874         40571         39960          572157 
           31p            42209         41769         41234          573473 
 

p--preliminary          pe--preliminary estimate
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.
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,

Release dates | Historical data | About
Current release  Other formats: Screen reader | ASCII | PDF (23 KB)
Home | Statistical releases
Accessibility
To comment on this site, please fill out our feedback form.
Last update: June 01, 2000