[Economic Indicators February, 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 Reserve (NSA)
Reserves of depository institutions ------------------------------------------------------
Period ------------------------------------------------------ Monetary
Excess base Total Primary Secondary Seasonal Adjust-
Total \2\ Nonborrowed \3\ Required (NSA) ment
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1993:Dec ..................... 60,460 60,378 59,390 1,070 386,462 82 ......... ......... 31 51
1994:Dec ..................... 59,369 59,160 58,209 1,159 418,194 209 ......... ......... 100 109
1995:Dec ..................... 56,430 56,173 55,140 1,290 434,400 257 ......... ......... 40 217
1996:Dec ..................... 50,149 49,994 48,733 1,416 451,921 155 ......... ......... 68 87
1997:Dec ..................... 46,848 46,523 45,163 1,685 479,838 324 ......... ......... 79 245
1998:Dec r.................... 45,141 45,024 43,627 1,514 513,685 117 ......... ......... 15 101
1999:Dec r.................... 41,809 41,488 40,512 1,297 593,138 320 ......... ......... 67 179
2000:Dec r.................... 38,537 38,327 37,110 1,427 584,718 210 ......... ......... 111 99
2001:Dec r.................... 41,243 41,177 39,595 1,649 635,559 67 ......... ......... 33 34
2002:Dec r.................... 40,117 40,037 38,120 1,997 681,768 80 ......... ......... 45 35
2002:Feb r.................... 41,335 41,305 39,964 1,371 646,607 30 ......... ......... 17 12
Mar r................... 40,768 40,689 39,347 1,421 649,996 79 ......... ......... 20 59
Apr r................... 40,635 40,565 39,424 1,211 654,098 71 ......... ......... 50 21
May r................... 39,406 39,294 38,145 1,261 657,819 112 ......... ......... 105 7
June r.................. 39,469 39,327 38,231 1,238 662,370 142 ......... ......... 136 6
July r.................. 39,674 39,482 38,300 1,374 666,912 191 ......... ......... 176 16
Aug r................... 39,977 39,644 38,340 1,637 669,929 333 ......... ......... 185 148
Sept r.................. 39,252 39,023 37,776 1,476 671,453 229 ......... ......... 169 60
Oct r................... 39,184 39,041 37,634 1,550 674,300 143 ......... ......... 120 23
Nov r................... 39,686 39,414 38,070 1,616 677,516 272 ......... ......... 60 211
Dec r................... 40,117 40,037 38,120 1,997 681,768 80 ......... ......... 45 35
2003:Jan...................... 40,591 40,564 38,929 1,662 685,624 27 12 0 13 2
Feb p................... 40,745 40,720 38,805 1,940 693,510 25 21 0 5 .........
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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.
Note.--Reserves and monetary
base data reflect annual reviews of
break and seasonal factors. See
Federal Reserve release H.3 (502)
released on February 27, 2003 for
details.
Source: Board of Governors of
the Federal Reserve System.