[Economic Indicators December, 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 ..............................................      41,220       41,154       41,154      39,572       634,414         67         33          0
 
2001:Nov ..............................................      40,867       40,783       40,783      39,415       629,374         84         33          0
      Dec .............................................      41,220       41,154       41,154      39,572       634,414         67         33          0
 
2002:Jan ..............................................      41,735       41,685       41,685      40,340       640,845         50         17          0
      Feb .............................................      41,450       41,420       41,420      40,080       646,153         30         17          0
      Mar .............................................      41,050       40,971       40,971      39,629       649,629         79         20          0
      Apr .............................................      40,806       40,735       40,735      39,594       653,921         71         50          0
      May .............................................      39,164       39,052       39,052      37,902       657,887        112        105          0
      June ............................................      39,313       39,171       39,171      38,075       664,105        142        136          0
      July.............................................      39,679       39,488       39,488      38,305       668,755        191        176          0
      Aug .............................................      40,054       39,721       39,721      38,417       671,143        333        185          0
      Sept ............................................      39,275       39,045       39,045      37,799       671,568        229        169          0
      Oct r............................................      38,918       38,776       38,776      37,368       673,626        143        120          0
      Nov..............................................      39,561       38,289       39,289      37,946       676,235        272         60          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.