[Economic Indicators August, 2004]
[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 \4\
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1994:Dec ..................... 59,369 59,160 58,209 1,159 418,196 209 ......... ......... 100 109
1995:Dec ..................... 56,430 56,173 55,140 1,290 434,388 257 ......... ......... 40 217
1996:Dec ..................... 50,149 49,994 48,733 1,416 451,904 155 ......... ......... 68 87
1997:Dec ..................... 46,848 46,523 45,163 1,685 479,826 324 ......... ......... 79 245
1998:Dec ..................... 45,254 45,138 43,741 1,514 513,894 117 ......... ......... 15 101
1999:Dec ..................... 41,928 41,607 40,631 1,297 593,709 320 ......... ......... 67 179
2000:Dec ..................... 38,677 38,467 37,249 1,427 585,104 210 ......... ......... 111 99
2001:Dec ..................... 41,411 41,344 39,760 1,651 635,936 67 ......... ......... 33 34
2002:Dec ..................... 40,442 40,362 38,433 2,009 682,151 80 ......... ......... 45 35
2003:Dec r.................... 42,843 42,797 41,804 1,039 720,978 46 17 0 29 .........
2003:Aug ..................... 45,581 45,252 41,814 3,767 710,239 329 168 15 146 .........
Sept ................... 44,289 44,109 42,779 1,510 712,123 181 23 0 158 .........
Oct .................... 43,394 43,287 41,921 1,473 715,834 107 13 0 94 .........
Nov r................... 43,034 42,966 41,545 1,489 718,968 68 25 0 43 .........
Dec r................... 42,843 42,797 41,804 1,039 720,978 46 17 0 29 .........
2004:Jan r.................... 43,204 43,098 42,314 891 722,605 106 93 0 13 .........
Feb r................... 42,994 42,952 41,805 1,189 724,169 42 28 0 14 .........
Mar r................... 44,713 44,662 42,951 1,762 725,761 51 23 0 28 .........
Apr r................... 45,677 45,591 43,935 1,742 728,824 86 29 0 57 .........
May r................... 45,387 45,275 43,798 1,588 732,302 112 9 0 103 .........
June r.................. 45,933 45,753 44,098 1,836 737,803 180 40 0 140 .........
July r.................. 45,740 45,496 44,057 1,684 745,609 245 42 0 203 .........
Aug p................... 44,759 44,508 43,208 1,551 752,664 251 19 0 233 .........
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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.
\4\ Discontinued after January
8, 2003.
Source: Board of Governors of
the Federal Reserve System.