[Economic Indicators January, 2000]
[Page Number 27]
[From the U.S. Government Publishing Office, www.gpo.gov]


AGGREGATE RESERVES AND MONETARY BASE

                            [Averages of daily figures \1\; millions of dollars; seasonally adjusted, except as noted by NSA]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                  Adjusted for changes in reserve requirements               Borrowings of depository
                                                        ----------------------------------------------------------------  institutions from the Federal
                                                                Reserves of depository institutions                               Reserve (NSA)
                                                        ---------------------------------------------------             --------------------------------
                         Period                                                   Nonborrowed                 Monetary
                                                                                      plus                      base                            Extended
                                                            Total    Nonborrowed    extended     Required                  Total     Seasonal    credit
                                                                                     credit
--------------------------------------------------------------------------------------------------------------------------------------------------------
1989:Dec ..............................................      40,469       40,204       40,224      39,528     r 267,710        265         84         20
1990:Dec ..............................................      41,747       41,422       41,445      40,083     r 293,249        326         76         23
1991:Dec ..............................................      45,493       45,301       45,301      44,504     r 317,548        192         38          1
1992:Dec ..............................................      54,388       54,265       54,265      53,235     r 350,928        124         18          1
1993:Dec ..............................................      60,530       60,448       60,448      59,460     r 386,549         82         31          0
1994:Dec ..............................................      59,419       59,210       59,210      58,260     r 418,200        209        100          0
1995:Dec ..............................................      56,454       56,197       56,197      55,164     r 434,309        257         40          0
1996:Dec  .............................................      50,162       50,008       50,008      48,746     r 451,606        155         68          0
1997:Dec ..............................................      46,861       46,537       46,537      45,176     r 479,164        324         79          0
1998:Dec ..............................................      44,902       44,785       44,785      43,319     r 512,594        117         15          0
1999:Dec ..............................................      41,537       41,217       41,217      40,225       590,772        320         67          0
 
1999:Jan ..............................................      45,125       44,920       44,920      43,591     r 517,171        206          7          0
      Feb .............................................      44,551       44,435       44,435      43,336     r 520,745        116          9          0
      Mar .............................................      43,717       43,652       43,652      42,412     r 523,829         65         18          0
      Apr..............................................      43,979       43,812       43,812      42,820     r 528,233        166         39          0
      May..............................................      44,360       44,233       44,233      43,105     r 534,029        127         89          0
      June ............................................      42,867       42,722       42,722      41,606     r 537,147        145        127          0
      July ............................................      41,978       41,669       41,669      40,902     r 541,251        309        226          0
      Aug..............................................      42,067       41,723       41,723      40,938     r 544,628        344        271          0
      Sept.............................................      42,113       41,774       41,774      40,916     r 550,215        338        282          0
      Oct..............................................      40,943       40,661       40,661      39,790     r 557,742        281        221          0
      Nov r............................................      41,198       40,962       40,962      39,864       569,729        236         71          0
      Dec .............................................      41,537       41,217       41,217      40,225       590,772        320         67          0
--------------------------------------------------------------------------------------------------------------------------------------------------------

    \1\ Data are prorated averages 
of biweekly (maintenance period) 
averages of daily figures.
    Source: Board of Governors of 
the Federal Reserve System.