[Economic Report of the President (1998)]
[Administration of William J. Clinton]
[Online through the Government Printing Office, www.gpo.gov]



Table B-71.--Aggregate reserves of depository institutions and monetary base, 1959-97
[Averages of daily figures\1\; millions of dollars; seasonally adjusted, except as noted]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Adjusted for changes in reserve requirements\2\         Borrowings of depository
--------------------------------------------------------  institutions from the  Federal
Reserves of depository institutions                           Reserve, NSA
---------------------------------------------           --------------------------------
Year and month                                                 Nonbor-
rowed                  Mone-
Total     Nonbor-      plus     Required   tary base    Total     Seasonal   Extended
rowed     extended                                                 credit
credit
--------------------------------------------------------------------------------------------------------------------------------------------------------
December:
1959.........................................................     11,109     10,168     10,168     10,603      40,880        941  .........  .........

1960.........................................................     11,247     11,172     11,172     10,503      40,977         74  .........  .........
1961.........................................................     11,499     11,366     11,366     10,915      41,853        133  .........  .........
1962.........................................................     11,604     11,344     11,344     11,033      42,957        260  .........  .........
1963.........................................................     11,730     11,397     11,397     11,239      45,003        332  .........  .........
1964.........................................................     12,011     11,747     11,747     11,605      47,161        264  .........  .........

1965.........................................................     12,316     11,872     11,872     11,892      49,620        444  .........  .........
1966.........................................................     12,223     11,690     11,690     11,884      51,565        532  .........  .........
1967.........................................................     13,180     12,952     12,952     12,805      54,579        228  .........  .........
1968.........................................................     13,767     13,021     13,021     13,341      58,357        746  .........  .........
1969.........................................................     14,168     13,049     13,049     13,882      61,569      1,119  .........  .........

1970.........................................................     14,558     14,225     14,225     14,309      65,013        332  .........  .........
1971.........................................................     15,230     15,104     15,104     15,049      69,108        126  .........  .........
1972.........................................................     16,645     15,595     15,595     16,361      75,167      1,050  .........  .........
1973.........................................................     17,021     15,723     15,723     16,717      81,073      1,298         41  .........
1974.........................................................     17,550     16,823     16,970     17,292      87,535        727         32        147

1975.........................................................     17,822     17,692     17,704     17,556      93,887        130         14         12
1976.........................................................     18,388     18,335     18,335     18,115     101,515         53         13  .........
1977.........................................................     18,990     18,420     18,420     18,800     110,324        569         55  .........
1978.........................................................     19,753     18,885     18,885     19,521     120,445        868        135  .........
1979.........................................................     20,720     19,248     19,248     20,279     131,143      1,473         82  .........

1980.........................................................     22,015     20,325     20,328     21,501     142,004      1,690        116          3
1981.........................................................     22,443     21,807     21,956     22,124     149,021        636         54        148
1982.........................................................     23,600     22,966     23,152     23,100     160,127        634         33        186
1983.........................................................     25,367     24,593     24,595     24,806     175,467        774         96          2
1984.........................................................     26,854     23,668     26,272     26,000     187,333      3,186        113      2,604

1985.........................................................     31,463     30,144     30,643     30,426     203,609      1,318         56        499
1986.........................................................     38,972     38,146     38,449     37,603     223,651        827         38        303
1987.........................................................     38,895     38,118     38,601     37,849     239,799        777         93        483
1988.........................................................     40,428     38,712     39,957     39,381     256,905      1,716        130      1,244
1989.........................................................     40,522     40,257     40,277     39,600     267,625        265         84         20

1990.........................................................     41,797     41,471     41,494     40,132     293,190        326         76         23
1991.........................................................     45,563     45,371     45,371     44,584     317,403        192         38          1
1992.........................................................     54,383     54,260     54,260     53,228     351,347        124         18          1
1993.........................................................     60,545     60,463     60,463     59,482     386,880         82         31          0
1994.........................................................     59,404     59,195     59,195     58,236     418,484        209        100          0

1995.........................................................     56,386     56,129     56,129     55,108     434,523        257         40          0
1996.........................................................     50,063     49,908     49,908     48,639     452,669        155         68          0
1997 ........................................................     47,196     46,872     46,872     45,513     481,230        324         79          0

1996: Jan......................................................     55,691     55,653     55,653     54,206     434,518         38          7          0
Feb.......................................................     54,810     54,775     54,775     53,959     433,584         35          8          0
Mar.......................................................     55,613     55,592     55,592     54,476     436,733         21         10          0
Apr.......................................................     55,155     55,064     55,064     54,035     437,075         91         34          0
May.......................................................     54,168     54,040     54,040     53,308     437,881        127        105          0
June......................................................     54,038     53,652     53,652     52,888     439,686        386        192          0

July......................................................     53,221     52,854     52,854     52,156     442,262        368        284          0
Aug.......................................................     52,181     51,847     51,847     51,221     443,999        334        309          0
Sept......................................................     51,280     50,912     50,912     50,242     445,812        368        306          0
Oct.......................................................     50,076     49,789     49,789     49,082     447,077        287        212          0
Nov.......................................................     49,811     49,597     49,597     48,776     449,365        214        109          0
Dec.......................................................     50,063     49,908     49,908     48,639     452,669        155         68          0

1997: Jan......................................................     49,517     49,472     49,472     48,293     454,137         45         19          0
Feb.......................................................     49,008     48,966     48,966     47,977     456,284         42         21          0
Mar.......................................................     48,312     48,155     48,155     47,151     457,623        156         37          0
Apr.......................................................     47,430     47,170     47,170     46,420     458,235        261         88          0
May.......................................................     47,048     46,805     46,805     45,808     459,602        243        173          0
June......................................................     47,108     46,741     46,741     45,828     461,401        367        243          0

July......................................................     46,885     46,476     46,476     45,683     464,212        409        330          0
Aug.......................................................     47,414     46,816     46,816     46,161     466,456        598        385          0
Sept......................................................     46,666     46,229     46,229     45,371     469,353        438        368          0
Oct.......................................................     46,454     46,184     46,184     45,058     472,022        270        227          0
Nov.......................................................     46,865     46,712     46,712     45,248     476,484        153        115          0
Dec ......................................................     47,196     46,872     46,872     45,513     481,230        324         79          0

--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\Data are prorated averages of biweekly (maintenance period) averages of daily figures.
\2\Aggregate reserves incorporate adjustments for discontinuities associated with regulatory changes to reserve requirements. For details on aggregate
reserves series see Federal Reserve Bulletin.

Note.--NSA indicates data are not seasonally adjusted.

Source: Board of Governors of the Federal Reserve System.