[Economic Report of the President (2004)]
[Administration of George W. Bush]
[Online through the Government Printing Office, www.gpo.gov]


 
Table B-71.--Aggregate reserves of depository institutions and the monetary base, 1959-2003
[Averages of daily figures\1\; millions of dollars; seasonally adjusted, except as noted]
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Adjusted for changes in reserve requirements\2\         Borrowings of depository institutions from the
--------------------------------------------------------                  Federal Reserve (NSA)
Reserves of depository institutions                -------------------------------------------------------
Year and month              ---------------------------------------------   Mone-
Nonbor-                Execess   tary base    Total     Primary   Secondary   Seasonal  Adjustment
Total      rowed     Required     (NSA)
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December:
1959..................................     11,109     10,168     10,603        506      40,880        941  .........  .........  .........         941

1960..................................     11,247     11,172     10,503        743      40,977         74  .........  .........  .........          74
1961..................................     11,499     11,366     10,915        584      41,853        133  .........  .........  .........         133
1962..................................     11,604     11,344     11,033        572      42,957        260  .........  .........  .........         260
1963..................................     11,730     11,397     11,239        490      45,003        332  .........  .........  .........         332
1964..................................     12,011     11,747     11,605        406      47,161        264  .........  .........  .........         264
1965..................................     12,316     11,872     11,892        423      49,620        444  .........  .........  .........         444
1966..................................     12,223     11,690     11,884        339      51,565        532  .........  .........  .........         532
1967..................................     13,180     12,952     12,805        375      54,579        228  .........  .........  .........         228
1968..................................     13,767     13,021     13,341        426      58,357        746  .........  .........  .........         746
1969..................................     14,168     13,049     13,882        286      61,569      1,119  .........  .........  .........       1,119

1970..................................     14,558     14,225     14,309        249      65,013        332  .........  .........  .........         332
1971..................................     15,230     15,104     15,049        182      69,108        126  .........  .........  .........         126
1972..................................     16,645     15,595     16,361        284      75,167      1,050  .........  .........  .........       1,050
1973..................................     17,021     15,723     16,717        304      81,073      1,298  .........  .........         41       1,257
1974..................................     17,550     16,823     17,292        258      87,535        727  .........  .........         32         548
1975..................................     17,822     17,692     17,556        266      93,887        130  .........  .........         14         104
1976..................................     18,388     18,335     18,115        274     101,515         53  .........  .........         13          40
1977..................................     18,990     18,420     18,800        190     110,324        569  .........  .........         55         514
1978..................................     19,753     18,885     19,521        232     120,445        868  .........  .........        135         734
1979..................................     20,720     19,248     20,279        442     131,143      1,473  .........  .........         82       1,390

1980..................................     22,015     20,325     21,501        514     142,004      1,690  .........  .........        116       1,571
1981..................................     22,443     21,807     22,124        319     149,021        636  .........  .........         54         433
1982..................................     23,600     22,966     23,100        500     160,127        634  .........  .........         33         415
1983..................................     25,367     24,593     24,806        561     175,467        774  .........  .........         96         676
1984..................................     26,896     23,710     26,061        835     187,241      3,186  .........  .........        113         469
1985..................................     31,541     30,223     30,478      1,063     203,540      1,318  .........  .........         56         763
1986..................................     38,841     38,015     37,668      1,173     223,430        827  .........  .........         38         486
1987..................................     38,918     38,141     37,899      1,019     239,846        777  .........  .........         93         201
1988..................................     40,428     38,712     39,366      1,061     256,866      1,716  .........  .........        130         342
1989..................................     40,430     40,164     39,489        941     267,669        265  .........  .........         84         162

1990..................................     41,699     41,374     40,035      1,664     293,267        326  .........  .........         76         227
1991..................................     45,451     45,258     44,461        989     317,507        192  .........  .........         38         153
1992..................................     54,332     54,208     53,178      1,154     350,754        124  .........  .........         18         105
1993..................................     60,460     60,378     59,390      1,070     386,462         82  .........  .........         31          51
1994..................................     59,369     59,160     58,209      1,159     418,194        209  .........  .........        100         109
1995..................................     56,430     56,173     55,140      1,290     434,400        257  .........  .........         40         217
1996..................................     50,149     49,994     48,733      1,416     451,921        155  .........  .........         68          87
1997..................................     46,848     46,523     45,163      1,685     479,838        324  .........  .........         79         245
1998..................................     45,141     45,024     43,627      1,514     513,708        117  .........  .........         15         101
1999..................................     41,809     41,488     40,512      1,297     593,155    \3\ 320  .........  .........         67         179

2000..................................     38,537     38,327     37,110      1,427     584,765        210  .........  .........        111          99
2001..................................     41,243     41,177     39,595      1,649     635,617         67  .........  .........         33          34
2002..................................     40,217     40,138     38,208      2,009     681,899         80  .........  .........         45          35
2003 .................................     43,020     42,974     41,359      1,661     721,040         46         17          0         29  ..........

2002: Jan...............................     41,576     41,526     40,181      1,395     641,597         50  .........  .........         17          33
Feb...............................     41,335     41,305     39,964      1,371     646,583         30  .........  .........         17          12
Mar...............................     40,768     40,689     39,347      1,421     649,991         79  .........  .........         20          59
Apr...............................     40,635     40,565     39,424      1,211     654,077         71  .........  .........         50          21
May...............................     39,406     39,294     38,145      1,261     657,784        112  .........  .........        105           7
June..............................     39,469     39,327     38,231      1,238     662,317        142  .........  .........        136           6

July..............................     39,679     39,487     38,301      1,377     666,838        191  .........  .........        176          16
Aug...............................     39,961     39,628     38,353      1,608     669,833        333  .........  .........        185         148
Sept..............................     39,209     38,980     37,722      1,486     671,399        229  .........  .........        169          60
Oct...............................     39,171     39,028     37,636      1,535     674,250        143  .........  .........        120          23
Nov...............................     39,760     39,489     38,122      1,638     677,611        272  .........  .........         60         211
Dec...............................     40,217     40,138     38,208      2,009     681,899         80  .........  .........         45          35

2003: Jan...............................     40,731     40,704     39,024      1,707     685,725         27         12          0         13           2
Feb...............................     40,820     40,795     38,855      1,965     691,300         25         21          0          5  ..........
Mar...............................     40,973     40,951     39,337      1,636     695,141         22         14          0          8  ..........
Apr...............................     40,806     40,777     39,274      1,532     698,221         29          8          0         21  ..........
May...............................     40,986     40,931     39,367      1,619     701,177         55          3          0         53  ..........
June..............................     42,795     42,634     40,942      1,854     703,172        161         87          0         74  ..........

July..............................     43,927     43,796     42,003      1,924     703,534        130         21          0        110  ..........
Aug...............................     46,282     45,954     42,519      3,763     709,233        329        168         15        146  ..........
Sept..............................     44,963     44,783     43,458      1,505     711,231        181         23          0        158  ..........
Oct...............................     43,992     43,884     42,525      1,467     715,778        107         13          0         94  ..........
Nov...............................     43,430     43,362     41,882      1,548     719,012         68         25          0         43  ..........
Dec...............................     43,020     42,974     41,359      1,661     721,040         46         17          0         29  ..........
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\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.
\3\Total includes borrowing under the terms and conditions established for the Century Date Change Special Liquidity Facility in effect from October 1,
1999 through April 7, 2000.

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

Source: Board of Governors of the Federal Reserve System.