[Economic Indicators January, 2003]
[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 ------------------------------------------------------ Monetary --------------------------------
Excess base Adjust-
Total \2\ Nonborrowed \3\ Required (NSA) Total Seasonal ment
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1993:Dec ........................................... 60,460 60,378 59,390 1,070 r 386,462 82 31 51
1994:Dec ........................................... 59,369 59,160 58,209 1,159 r 418,194 209 100 109
1995:Dec ........................................... 56,430 56,173 55,140 1,290 r 434,400 257 40 217
1996:Dec ........................................... 50,149 49,994 48,733 1,416 r 451,921 155 68 87
1997:Dec ........................................... 46,848 46,523 45,163 1,685 r 479,838 324 79 245
1998:Dec ........................................... 45,136 45,019 43,622 1,514 r 513,891 117 15 101
1999:Dec ........................................... 41,824 41,504 40,527 1,297 r 593,726 320 67 179
2000:Dec ........................................... 38,535 38,326 37,108 1,427 r 584,961 210 111 99
2001:Dec ........................................... 41,220 41,154 39,572 1,649 r 635,781 67 33 34
2002:Dec ........................................... 40,072 39,992 38,084 1,988 681,947 80 45 35
2002:Jan ........................................... 41,735 41,685 40,340 1,395 r 641,839 50 17 33
Feb .......................................... 41,450 41,420 40,080 1,371 r 646,592 30 17 12
Mar .......................................... 41,050 40,971 39,629 1,421 r 650,155 79 20 59
Apr .......................................... 40,806 40,735 39,594 1,211 r 654,332 71 50 21
May .......................................... 39,164 39,052 37,902 1,261 r 657,636 112 105 7
June ......................................... 39,313 39,171 38,075 1,238 r 662,015 142 136 6
July.......................................... 39,679 39,488 38,305 1,374 r 666,912 191 176 16
Aug .......................................... 40,054 39,721 38,417 1,637 r 669,661 333 185 148
Sept ......................................... 39,275 39,045 37,799 1,476 r 671,350 229 169 60
Oct .......................................... 38,918 38,776 37,368 1,550 r 674,279 143 120 23
Nov r......................................... 39,561 39,290 37,945 1,616 677,622 272 60 211
Dec .......................................... 40,072 39,992 38,084 1,988 681,947 80 45 35
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\1\ Data are prorated averages
of biweekly (maintenance period)
averages of daily figures.
Reserves and monetary base
incorporate adjustments for
discontinuities, or ``breaks,''
associated with changes in reserve
requirements.
\2\ Seasonally adjusted break-
adjusted required reserves plus
unadjusted excess reserves.
\3\ Seasonally adjusted break-
adjusted total reserves less
unadjusted total borrowings of
depository institutions from the
Federal Reserve.
Source: Board of Governors of
the Federal Reserve System.