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   Aggregate Reserves of Depository Institutions and the Monetary Base - H.3 Current Release

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  Current Release (42 KB PDF)   Table 1 
 Table 1a 
 Table 2 
 Table 3
   Table 1 Adjusted for changes in reserve requirements 1  
Seasonally adjusted unless noted otherwise. Millions of dollars.Date 
 Reserves of depository institutions 
 Monetary  
base 5 
 Total  
borrowings  
 from the  
 Federal  
Reserve,  
 NSATotal 2 
 Nonborrowed 3 
 Required 
 Excess,  
NSA 4Month 6Apr. 2012 
 1,584,770 
 1,577,905 
 98,593 
 1,486,176 
 2,631,478 
 6,865May 2012 
 1,556,689 
 1,550,503 
 99,230 
 1,457,460 
 2,609,131 
 6,187June 2012 
 1,557,175 
 1,551,961 
 99,699 
 1,457,475 
 2,615,664 
 5,214July 2012 
 1,584,049 
 1,579,791 
 101,000 
 1,483,049 
 2,649,396 
 4,258Aug. 2012 
 1,582,288 
 1,579,017 
 104,538 
 1,477,750 
 2,654,458 
 3,271Sep. 2012 
 1,515,888 
 1,513,923 
 106,447 
 1,409,441 
 2,597,251 
 1,965Oct. 2012 
 1,525,145 
 1,523,679 
 106,870 
 1,418,275 
 2,615,620 
 1,466Nov. 2012 
 1,546,809 
 1,545,758 
 111,505 
 1,435,304 
 2,643,297 
 1,051Dec. 2012 
 1,569,017 
 1,568,221 
 110,266 
 1,458,751 
 2,672,578 
 795Jan. 2013 
 1,630,872 
 1,630,307 
 111,413 
 1,519,460 
 2,740,902 
 565Feb. 2013 
 1,731,409 
 1,730,944 
 114,621 
 1,616,788 
 2,843,658 
 465Mar. 2013 
 1,813,069 
 1,812,675 
 114,915 
 1,698,154 
 2,929,461 
 394Apr. 2013 
 1,882,384 
 1,881,984 
 113,551 
 1,768,834 
 3,004,481 
 401Two weeks ending 7Mar 20, 2013 
 1,813,453 
 1,813,061 
 116,161 
 1,697,292 
 2,929,730 
 392Apr 3, 2013 
 1,839,331 
 1,838,940 
 112,778 
 1,726,553 
 2,956,537 
 391Apr 17, 2013 
 1,905,184 
 1,904,787 
 111,642 
 1,793,542 
 3,025,343 
 397May 1, 2013 
 1,867,767 
 1,867,360 
 115,784 
 1,751,983 
 2,993,080 
 407May 15, 2013 p 
 1,938,940 
 1,938,518 
 115,623 
 1,823,317 
 3,067,060 
 422 Footnotes Reserves and monetary base figures incorporate adjustments for discontinuities, or "breaks," associated with regulatory changes in reserve requirements. (For more information, refer to table 3.) 
 Seasonally adjusted, break-adjusted total reserves equal seasonally adjusted, break-adjusted required reserves plus unadjusted excess reserves. (Also, refer to footnote 2 in table 2 and footnote 2 in table 3.) 
 Seasonally adjusted, break-adjusted nonborrowed reserves equal seasonally adjusted, break-adjusted total reserves less unadjusted total borrowings from the Federal Reserve. 
 Excess reserves NSA equals unadjusted total reserves (table 2, column 1) less unadjusted required reserves (table 2, column 3). 
 The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally adjusted, break-adjusted total reserves plus (2) the seasonally adjusted currency component of the money stock plus (3), for all quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters whose vault cash exceeds their required reserves, the seasonally adjusted, break-adjusted difference between current vault cash and the amount applied to satisfy current reserve requirements. (Also, refer to footnote 3 in table 2 and footnote 4 in table 3.) 
 Prorated averages of biweekly averages. 
 Averages of daily figures. p=preliminary
 Back to top  Table 1a Not seasonally adjusted. Millions of dollars.Date 
 Borrowings from the Federal Reserve 1Total 
 Primary 
 Secondary 
 Seasonal 
 Term  
 Asset-Backed  
 Securities  
 Loan Facility 2 
 Other  
 credit  
 extensionsMonth 3Apr. 2012 
 6,865 
 21 
 0 
 9 
 6,834 
 0May 2012 
 6,187 
 16 
 0 
 27 
 6,143 
 0June 2012 
 5,214 
 19 
 0 
 56 
 5,139 
 0July 2012 
 4,258 
 26 
 0 
 97 
 4,135 
 0Aug. 2012 
 3,271 
 39 
 0 
 138 
 3,094 
 0Sep. 2012 
 1,965 
 62 
 0 
 123 
 1,781 
 0Oct. 2012 
 1,466 
 17 
 0 
 66 
 1,383 
 0Nov. 2012 
 1,051 
 9 
 0 
 37 
 1,006 
 0Dec. 2012 
 795 
 12 
 0 
 23 
 760 
 0Jan. 2013 
 565 
 11 
 0 
 7 
 548 
 0Feb. 2013 
 465 
 10 
 0 
 1 
 454 
 0Mar. 2013 
 394 
 8 
 0 
 0 
 386 
 0Apr. 2013 
 401 
 9 
 0 
 11 
 380 
 0Two weeks ending 4Mar 20, 2013 
 392 
 6 
 0 
 0 
 386 
 0Apr 3, 2013 
 391 
 8 
 0 
 1 
 382 
 0Apr 17, 2013 
 397 
 6 
 0 
 9 
 382 
 0May 1, 2013 
 407 
 14 
 0 
 15 
 378 
 0May 15, 2013 p 
 422 
 8 
 0 
 37 
 377 
 0 Footnotes The Federal Reserve Bank of New York (FRBNY) has extended credit to Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC, as discussed in the notes to the Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks." Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY because the FRBNY is the primary beneficiary of the LLCs. As a consequence of this consolidation, the extensions of credit from the FRBNY to these LLCs are eliminated from the Federal Reserve's balance sheet, and, thus, the loans are not included in borrowed reserves. 
 Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 
 Prorated averages of biweekly averages. 
 Averages of daily figures. p=preliminary
 Back to top  Table 2 Not adjusted for changes in reserve requirements 1  
 Not seasonally adjusted. Millions of dollars.Date 
 Reserves of depository institutions 
 Monetary  
base 3 
 Reserve  
 balances with  
F.R. Banks 4 
 Vault cash 5 
 Net  
 carryover  
 of reserve  
 balances 8Total 2 
 Nonborrowed 
 Required 
 Total 
 Used to satisfy  
 required  
 reserves 6 
 Surplus 7Month 9Apr. 2012 
 1,586,705 
 1,579,840 
 100,528 
 2,640,107 
 1,537,808 
 58,596 
 48,896 
 9,699May 2012 
 1,558,506 
 1,552,319 
 101,046 
 2,616,307 
 1,510,119 
 57,991 
 48,387 
 9,604June 2012 
 1,555,380 
 1,550,166 
 97,905 
 2,618,073 
 1,507,596 
 57,639 
 47,784 
 9,855July 2012 
 1,583,770 
 1,579,512 
 100,721 
 2,648,865 
 1,535,052 
 58,292 
 48,718 
 9,574Aug. 2012 
 1,582,193 
 1,578,923 
 104,443 
 2,650,395 
 1,532,976 
 58,396 
 49,217 
 9,179Sep. 2012 
 1,517,507 
 1,515,542 
 108,066 
 2,593,767 
 1,468,681 
 58,102 
 48,826 
 9,276Oct. 2012 
 1,525,583 
 1,524,118 
 107,309 
 2,611,517 
 1,476,730 
 59,280 
 48,854 
 10,426Nov. 2012 
 1,546,110 
 1,545,059 
 110,806 
 2,641,911 
 1,497,506 
 59,187 
 48,604 
 10,583Dec. 2012 
 1,570,383 
 1,569,587 
 111,632 
 2,675,025 
 1,517,425 
 63,893 
 52,958 
 10,936Jan. 2013 
 1,636,934 
 1,636,369 
 117,475 
 2,742,337 
 1,582,524 
 64,219 
 54,410 
 9,809Feb. 2013 
 1,733,393 
 1,732,928 
 116,605 
 2,846,128 
 1,680,086 
 63,994 
 53,308 
 10,686Mar. 2013 
 1,811,300 
 1,810,906 
 113,146 
 2,934,278 
 1,760,359 
 61,222 
 50,941 
 10,281Apr. 2013 
 1,884,688 
 1,884,288 
 115,855 
 3,011,809 
 1,832,952 
 61,812 
 51,736 
 10,075Two weeks ending 10Mar 20, 2013 
 1,806,530 
 1,806,138 
 109,238 
 2,931,302 
 1,757,160 
 60,788 
 49,370 
 11,418 
 4,492Apr 3, 2013 
 1,840,906 
 1,840,515 
 114,353 
 2,964,435 
 1,788,735 
 61,644 
 52,171 
 9,474 
 4,115Apr 17, 2013 
 1,900,050 
 1,899,654 
 106,509 
 3,028,711 
 1,849,829 
 61,791 
 50,222 
 11,569 
 4,331May 1, 2013 
 1,878,249 
 1,877,842 
 126,266 
 3,004,539 
 1,824,982 
 61,874 
 53,268 
 8,606 
 3,892May 15, 2013 p 
 1,935,151 
 1,934,729 
 111,834 
 3,069,099 
 1,885,112 
 61,544 
 50,039 
 11,504 
 4,582 Footnotes Reflects actual required reserves, with no adjustments to eliminate the effects of discontinuities, or "breaks," associated with regulatory changes in reserve requirements. 
 Reserve balances with Federal Reserve Banks plus vault cash used to satisfy reserve requirements. 
 The monetary base, not break-adjusted and not seasonally adjusted, consists of (1) total reserves plus (2) required clearing balances and adjustments to compensate for float at Federal Reserve Banks plus (3) the currency component of the money stock plus (4), for all quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters whose vault cash exceeds their required reserves, the difference between current vault cash and the amount applied to satisfy current reserve requirements. Currency and vault cash figures are measured over computation periods ending on Mondays. See note on simplification of reserve requirements. 
 Excludes required clearing balances and adjustments to compensate for float and includes other off-balance-sheet "as-of" adjustments. See note on simplification of reserve requirements. 
 Vault cash eligible to satisfy reserve requirements. It includes only vault cash held by those banks and thrifts that are not exempt from reserve requirements. Dates refer to the maintenance periods in which the vault cash can be used to satisfy reserve requirements. 
 All vault cash held during the lagged computation period by "bound" institutions (i.e., those whose required reserves exceed their vault cash) plus the amount of vault cash applied during the maintenance period by "nonbound" institutions (i.e., those whose vault cash exceeds their required reserves) to satisfy current reserve requirements. 
 Total vault cash eligible to satisfy reserve requirements, held by depository institutions not exempt from reserve requirements, minus the amount used to satisfy reserve requirements. 
 Consists of carryover only at depository institutions maintaining reserves on the basis of two-week maintenance periods. Reflects excess (+) or deficit (-) reserves eligible to be carried forward into the two-week reserve maintenance period ending on the date shown. 
 Prorated averages of biweekly averages. 
 Averages of daily figures. p=preliminary
 Note on Simplification of Reserve Requirements
 Back to top  Table 3 Adjusted for changes in reserve requirements 1  
 Not seasonally adjusted. Millions of dollars.Date 
 Reserves of depository institutions 
 Monetary  
 base 4Total 2 
 Nonborrowed 
 Required 3Month 5Apr. 2012 
 1,586,434 
 1,579,569 
 100,257 
 2,637,985May 2012 
 1,558,118 
 1,551,931 
 100,658 
 2,614,113June 2012 
 1,554,929 
 1,549,715 
 97,454 
 2,615,850July 2012 
 1,583,212 
 1,578,954 
 100,163 
 2,647,786Aug. 2012 
 1,581,510 
 1,578,239 
 103,760 
 2,649,885Sep. 2012 
 1,516,731 
 1,514,766 
 107,290 
 2,593,190Oct. 2012 
 1,524,700 
 1,523,234 
 106,425 
 2,610,851Nov. 2012 
 1,545,094 
 1,544,043 
 109,790 
 2,641,159Dec. 2012 
 1,569,431 
 1,568,636 
 110,680 
 2,674,312Jan. 2013 
 1,636,785 
 1,636,220 
 117,325 
 2,742,199Feb. 2013 
 1,733,277 
 1,732,813 
 116,490 
 2,846,047Mar. 2013 
 1,811,105 
 1,810,711 
 112,951 
 2,934,142Apr. 2013 
 1,884,364 
 1,883,963 
 115,530 
 3,011,568Two weeks ending 6Mar 20, 2013 
 1,806,347 
 1,805,955 
 109,055 
 2,931,174Apr 3, 2013 
 1,840,673 
 1,840,282 
 114,121 
 2,964,272Apr 17, 2013 
 1,899,786 
 1,899,389 
 106,244 
 3,028,524May 1, 2013 
 1,877,838 
 1,877,431 
 125,855 
 3,004,221May 15, 2013 p 
 1,934,725 
 1,934,303 
 111,408 
 3,068,772 Footnotes  Figures reflect adjustments for discontinuities, or "breaks," associated with regulatory changes in reserve requirements. 
 Break-adjusted total reserves equal break-adjusted required reserves (table 3, column 3) plus excess reserves NSA (table 1, column 4). 
 To adjust required reserves for discontinuities due to regulatory changes in reserve requirements, a multiplicative procedure is used to estimate what required reserves would have been in past periods had current reserve requirements been in effect. Break-adjusted required reserves are equal to break-adjusted required reserves against transactions deposits. 
 The break-adjusted monetary base equals (1) break-adjusted total reserves plus (2) the (unadjusted) currency component of the money stock plus (3), for all quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters whose vault cash exceeds their required reserves, the break-adjusted difference between current vault cash and the amount applied to satisfy current reserve requirements. 
 Prorated averages of biweekly averages. 
 Averages of daily figures. p=preliminary
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