[Economic Indicators May, 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]
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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
--------------------------------------------------------------------------------------------------------------------------------------------------------
1992:Dec ..............................................      54,332       54,208       54,209      53,178       350,751        124         18          1
1993:Dec ..............................................      60,460       60,378       60,378      59,390       386,477         82         31          0
1994:Dec ..............................................      59,369       59,160       59,160      58,209       418,205        209        100          0
1995:Dec ..............................................      56,430       56,173       56,173      55,140       434,396        257         40          0
1996:Dec ..............................................      50,149       49,994       49,994      48,733       451,839        155         68          0
1997:Dec ..............................................      46,848       46,523       46,523      45,163       479,703        324         79          0
1998:Dec ..............................................      45,136       45,019       45,019      43,622       513,550        117         15          0
1999:Dec ..............................................      41,824       41,504       41,504      40,527       593,121        320         67          0
2000:Dec ..............................................      38,535       38,326       38,326      37,108       584,042        210        111          0
2001:Dec r.............................................      41,221       41,154       41,154      39,576       634,413         67         33          0
 
2001:Apr ..............................................      38,568       38,517       38,517      37,291       595,638         51         35          0
      May .............................................      38,316       38,103       38,103      37,297     r 598,896        213         79          0
      June ............................................      39,066       38,836       38,836      37,704     r 602,835        229        120          0
      July ............................................      39,785       39,502       39,502      38,377     r 608,105        283        174          0
      Aug r............................................      40,079       39,896       39,896      38,871       616,024        183        164          0
      Sept r...........................................      58,217       54,832       54,832      39,200       639,690      3,385         93          0
      Oct r............................................      45,224       45,097       45,097      43,899       629,954        127         67          0
      Nov r............................................      40,867       40,783       40,783      39,415       629,373         84         33          0
      Dec r............................................      41,221       41,154       41,154      39,576       634,413         67         33          0
 
2002:Jan r.............................................      41,747       41,698       41,698      40,360       640,857         50         17          0
      Feb r............................................      41,451       41,421       41,421      40,083       646,175         30         17          0
      Mar r............................................      41,013       40,935       40,935      39,599       649,640         79         20          0
      Apr r............................................      40,761       40,690       40,690      39,553       653,899         71         50          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.