[Economic Indicators March, 2001]
[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
--------------------------------------------------------------------------------------------------------------------------------------------------------
1991:Dec...............................................      45,493       45,301       45,302      44,504       317,549        192         38          1
1992:Dec...............................................      54,391       54,267       54,268      53,237       350,840        124         18          1
1993:Dec...............................................      60,532       60,450       60,450      59,463       386,510         82         31          0
1994:Dec...............................................      59,420       59,211       59,211      58,261       418,166        209        100          0
1995:Dec...............................................      56,452       56,195       56,195      55,162       434,307        257         40          0
1996:Dec...............................................      50,154       49,999       49,999      48,738       451,712        155         68          0
1997:Dec...............................................      46,848       46,524       46,524      45,164       479,466        324         79          0
1998:Dec...............................................      45,183       45,066       45,066      43,669       513,489        117         15          0
1999:Dec...............................................      41,778       41,457       41,457      40,480       593,094        320         67          0
2000:Dec...............................................      38,507       38,297       38,297      37,182     r 583,968        210        111          0
 
2000:Mar...............................................      40,306       40,127       40,127      39,097       571,470        179         71          0
      Apr..............................................      40,783       40,479       40,479      39,626       572,495        304        120          0
      May..............................................      41,003       40,641       40,641      40,031       574,144        362        276          0
      June.............................................      39,882       39,403       39,403      38,766       575,307        479        389          0
      July.............................................      40,124       39,555       39,555      38,981       576,957        570        510          0
      Aug..............................................      39,643       39,064       39,064      38,639       577,531        579        554          0
      Sept.............................................      39,386       38,908       38,908      38,267       578,336        477        427          0
      Oct..............................................      39,021       38,602       38,602      37,874       579,698        418        299          0
      Nov..............................................      39,023       38,739       38,739      37,821       581,398        283        159          0
      Dec..............................................      38,507       38,297       38,297      37,182     r 583,968        210        111          0
 
2001:Jan...............................................      38,827       38,754       38,754      37,574     r 589,397         73         34          0
      Feb r............................................      38,867       38,816       38,816      37,434       591,034         51         21          0
      Mar p............................................      38,273       38,215       38,215      36,873       591,692         58         20          0
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    \1\ Data are prorated averages 
of biweekly (maintenance period) 
averages of daily figures.

    Source: Board of Governors of 
the Federal Reserve System.