[Economic Indicators January, 2002]
[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
--------------------------------------------------------------------------------------------------------------------------------------------------------
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
2001:Dec ..............................................      41,030       40,963       40,963      39,390       634,380         67         33          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 r...........................................      38,758       38,528       38,528      37,396       601,869        229        120          0
      July r...........................................      39,642       39,359       39,359      38,234       607,700        283        174          0
      Aug r............................................      39,940       39,757       39,757      38,731       615,519        183        164          0
      Sept r...........................................      57,887       54,502       54,502      38,868       639,777      3,385         93          0
      Oct r............................................      45,463       45,336       45,336      44,142       629,998        127         67          0
      Nov r............................................      40,534       40,450       40,450      39,048       629,058         84         33          0
      Dec .............................................      41,030       40,963       40,963      39,390       634,380         67         33          0
--------------------------------------------------------------------------------------------------------------------------------------------------------

    \1\ Data are prorated averages 
of biweekly (maintenance period) 
averages of daily figures.

    Source: Board of Governors of 
the Federal Reserve System.