[Economic Indicators February, 2005]
[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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1995:Dec ..................... 56,430 56,173 55,140 1,290 434,471 257 ......... ......... 40 217
1996:Dec ..................... 50,149 49,994 48,733 1,416 451,933 155 ......... ......... 68 87
1997:Dec ..................... 46,848 46,523 45,163 1,685 479,786 324 ......... ......... 79 245
1998:Dec ..................... 45,254 45,138 43,741 1,514 513,814 117 ......... ......... 15 101
1999:Dec ..................... 41,928 41,607 40,631 1,297 593,468 320 ......... ......... 67 179
2000:Dec ..................... 38,677 38,467 37,249 1,427 584,733 210 ......... ......... 111 99
2001:Dec ..................... 41,411 41,344 39,760 1,651 635,319 67 ......... ......... 33 34
2002:Dec ..................... 40,442 40,362 38,433 2,009 681,195 80 ......... ......... 45 35
2003:Dec ..................... 42,843 42,797 41,804 1,039 719,828 46 17 0 29 .........
2004:Dec ..................... 46,596 46,533 44,681 1,915 r 758,273 63 11 0 52 .........
2004:Feb ..................... 42,999 42,957 41,805 1,194 724,921 42 28 0 14 .........
Mar .................... 44,739 44,688 42,933 1,806 727,274 51 23 0 28 .........
Apr .................... 45,688 45,602 43,881 1,807 730,894 86 29 0 57 .........
May .................... 45,390 45,279 43,747 1,643 734,655 112 9 0 103 .........
June ................... 45,935 45,755 44,047 1,888 739,415 180 40 0 140 .........
July ................... 45,733 45,488 44,022 1,711 745,562 245 42 0 203 .........
Aug .................... 44,754 44,502 43,203 1,551 747,145 251 18 0 233 .........
Sept ................... 46,252 45,917 44,686 1,566 751,644 335 97 0 238 .........
Oct .................... 46,035 45,856 44,318 1,717 754,141 179 15 0 164 .........
Nov .................... 45,946 45,763 44,174 1,772 r 758,179 183 105 0 78 .........
Dec .................... 46,596 46,533 44,681 1,915 r 758,273 63 11 0 52 .........
2005:Jan r.................... 47,664 47,602 45,922 1,742 760,941 62 39 0 23 .........
Feb p................... 45,730 45,688 44,199 1,530 768,417 42 26 0 16 .........
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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.