[Economic Indicators December, 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]
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                                                                  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      40,481       593,094        320         67          0
2000:Dec ..............................................      38,440       38,230       38,230      37,012       583,816        210        111          0
 
2000:Nov ..............................................      39,020       38,737       38,737      37,712       581,401        283        159          0
      Dec .............................................      38,440       38,230       38,230      37,012       583,816        210        111          0
 
2001:Jan ..............................................      38,771       38,698       38,698      37,387       589,340         73         34          0
      Feb .............................................      38,827       38,775       38,775      37,319       591,048         51         21          0
      Mar .............................................      38,267       38,209       38,209      36,867       592,420         58         20          0
      Apr .............................................      38,786       38,735       38,735      37,509       595,932         51         35          0
      May .............................................      38,881       38,667       38,667      37,861       599,084        213         79          0
      June ............................................      38,756       38,526       38,526      37,396       601,867        229        120          0
      July ............................................      39,590       39,307       39,307      38,210       607,674        283        174          0
      Aug .............................................      39,876       39,693       39,693      38,670       615,478        183        164          0
      Sept ............................................      57,824       54,439       54,439      38,811       639,708      3,385         93          0
      Oct .............................................      45,005       44,878       44,878      43,991       629,508        127         67          0
      Nov .............................................      40,536       40,452       40,452      39,073       629,059         84         33          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.