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

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Release Date: March 12, 2020

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
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
Nov. 2019 140,705 154,787 126,625 1,529,341 154,256 1,375,085
Dec. 2019 138,984 152,893 125,076 1,630,090 152,562 1,477,528
Jan. 2020 144,816 159,309 130,326 1,645,384 158,765 1,486,619
Feb. 2020 138,370 152,218 124,524 1,656,989 151,612 1,505,377
 
Two weeks ending 8
Jan. 15, 2020 135,017 148,531 121,506 1,670,444 148,025 1,522,419
Jan. 29, 2020 156,503 172,164 140,844 1,619,016 171,564 1,447,452
Feb. 12, 2020 131,006 144,118 117,897 1,660,291 143,526 1,516,765
Feb. 26, 2020 143,140 157,465 128,817 1,640,294 156,831 1,483,463
Mar. 11, 2020 145,565 160,132 130,999 1,721,690 159,601 1,562,089

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
Feb. 2019 1,713,683 193,579 81,298 68,450 12,848 3,353,467 1,645,233 1,708,234
Mar. 2019 1,725,938 193,064 76,814 64,640 12,174 3,381,455 1,661,297 1,720,158
Apr. 2019 1,623,904 194,575 76,135 64,455 11,681 3,286,650 1,559,450 1,727,201
May 2019 1,576,309 199,742 75,826 65,024 10,802 3,244,460 1,511,285 1,733,175
June 2019 1,601,309 200,360 76,106 65,452 10,654 3,274,825 1,535,857 1,738,968
July 2019 1,578,615 200,169 76,485 65,065 11,420 3,260,316 1,513,550 1,746,765
Aug. 2019 1,586,844 200,608 78,451 65,969 12,483 3,271,378 1,520,876 1,750,502
Sept. 2019 1,504,805 199,741 76,550 65,035 11,516 3,202,668 1,439,771 1,762,898
Oct. 2019 1,547,136 200,621 76,660 65,623 11,036 3,252,807 1,481,513 1,771,294
Nov. 2019 1,595,222 206,586 76,920 65,881 11,039 3,315,551 1,529,341 1,786,209
Dec. 2019 1,698,344 207,239 80,167 68,255 11,913 3,426,483 1,630,090 1,796,393
Jan. 2020 1,715,219 214,652 81,206 69,835 11,371 3,442,603 1,645,384 1,797,219
Feb. 2020 1,726,943 208,324 80,717 69,954 10,763 3,454,507 1,656,989 1,797,518
 
Two weeks ending 8
Jan. 15, 2020 1,738,005 202,578 81,249 67,561 13,688 3,471,580 1,670,444 1,801,136
Jan. 29, 2020 1,690,759 228,246 80,727 71,743 8,984 3,412,470 1,619,016 1,793,454
Feb. 12, 2020 1,732,355 203,070 84,536 72,064 12,472 3,453,798 1,660,291 1,793,507
Feb. 26, 2020 1,709,136 211,982 78,429 68,842 9,587 3,438,834 1,640,294 1,798,541
Mar. 11, 2020 1,788,394 212,269 76,121 66,704 9,417 3,530,486 1,721,690 1,808,796

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
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
Nov. 2019 26 4 0 22 0 1,595,196
Dec. 2019 21 10 0 11 0 1,698,323
Jan. 2020 6 5 0 1 0 1,715,213
Feb. 2020 3 3 0 0 0 1,726,939
 
Two weeks ending 3
Jan. 15, 2020 5 4 0 2 0 1,738,000
Jan. 29, 2020 6 6 0 0 0 1,690,753
Feb. 12, 2020 3 3 0 0 0 1,732,352
Feb. 26, 2020 2 2 0 0 0 1,709,134
Mar. 11, 2020 10 10 0 0 0 1,788,384

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: March 12, 2020