[Economic Indicators May, 2009]
[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 from the Federal Reserve (NSA)
                                                       -----------------------------------------------------------------------------------------------------------------------------------------
                                                               Reserves of depository institutions                                                Other borrowings from the Federal Reserve
                                                       ---------------------------------------------------                                 -----------------------------------------------------
                                                                                                                                                                    Asset-
                                                                                                                                                                    backed     Credit
                                                                                                                                                        Primary   commerical  extended
                        Period                                                                              Monetary                Term                dealer       paper        to
                                                                                                 Excess       base     Total \4\   auction             and other     money    American   Adjust-
                                                        Total \2\  Nonborrowed \3\   Required     (NSA)                            credit    Primary    broker-     market      Inter-  ment \6\
                                                                                                                                                        dealer      mutual    national
                                                                                                                                                      credit \5\     fund       Group,
                                                                                                                                                                   liquidity    Inc.
                                                                                                                                                                   facility
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1999:Dec .............................................     42,183         41,862       40,889      1,294      593,842        320  ........  ........  ..........  ..........  ........       179
2000:Dec .............................................     38,717         38,507       37,391      1,325      584,928        210  ........  ........  ..........  ..........  ........        99
2001:Dec .............................................     41,442         41,376       39,799      1,643      635,557         67  ........  ........  ..........  ..........  ........        34
2002:Dec .............................................     40,400         40,320       38,392      2,008      681,629         80  ........  ........  ..........  ..........  ........        35
2003:Dec .............................................     42,757         42,711       41,710      1,047      720,402         46  ........        17  ..........  ..........  ........  ........
2004:Dec .............................................     46,552         46,489       44,643      1,909      759,072         63  ........        11  ..........  ..........  ........  ........
2005:Dec .............................................     45,139         44,970       43,238      1,901      786,976        169  ........        97  ..........  ..........  ........  ........
2006:Dec .............................................     43,338         43,147       41,475      1,863      811,126        191  ........       111  ..........  ..........  ........  ........
2007:Dec .............................................     42,674         27,243       40,905      1,769      822,356     15,431    11,613     3,787  ..........  ..........  ........  ........
2008:Dec .............................................    821,055        167,489       53,655    767,400    1,651,278    653,565   438,327    88,245     47,631      32,102     47,206  ........
 
2008:May .............................................     44,130       -111,650       42,119      2,011      827,171    155,780   127,419    14,076     14,238   ..........  ........  ........
      June ...........................................     43,363       -127,915       41,092      2,271      832,489    171,278   150,000    14,225      6,908   ..........  ........  ........
      July ...........................................     43,333       -122,331       41,360      1,973      838,059    165,664   150,000    15,204        255   ..........  ........  ........
      Aug ............................................     44,565       -123,514       42,571      1,993      842,813    168,078   150,000    17,980          0   ..........  ........  ........
      Sept ...........................................    102,784       -187,322       42,726     60,057      905,168    290,105   149,814    32,632     53,473      31,877     22,187  ........
      Oct ............................................    315,512       -332,807       47,606    267,907    1,130,296    648,319   244,778    94,017    114,953     117,457     77,047  ........
      Nov ............................................    609,962        -88,824       50,920    559,042    1,433,503    698,786   393,088    95,839     60,655      71,009     78,070  ........
      Dec ............................................    821,055        167,489       53,655    767,400    1,651,278    653,565   438,327    88,245     47,631      32,102     47,206  ........
 
2009:Jan .............................................    858,418        294,922       60,173    798,245    1,703,117    563,496   403,523    70,436     33,061      17,745     38,690  ........
      Feb r...........................................    700,967        118,470       57,459    643,508    1,557,493    582,497   438,822    65,463     26,250      13,533     38,414  ........
      Mar r...........................................    779,955        167,843       55,321    724,633    1,643,137    612,111   477,049    62,513     20,292       7,857     43,328  ........
      Apr r...........................................    881,556        323,362       57,175    824,381    1,749,791    558,194   444,933    47,324     10,918       4,267     45,057
      May p...........................................    901,291        375,843       57,188    844,103    1,769,957    525,448   403,970    40,124        701      23,347     44,915  ........
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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\ Includes secondary and 
seasonal, and other credit 
extensions, not shown separately.
    \5\ Includes credit extended 
through the Primary Dealer Credit 
Facility and credit extended to 
other broker-dealers.
    \6\ Discontinued after January 
8, 2003.
    Source: Board of Governors of 
the Federal Reserve System.