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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 6Jan. 2012 
 1,614,301 
 1,605,687 
 94,850 
 1,519,451 
 2,638,085 
 8,614Feb. 2012 
 1,657,931 
 1,649,998 
 97,811 
 1,560,121 
 2,690,186 
 7,933Mar. 2012 
 1,607,819 
 1,600,490 
 98,226 
 1,509,593 
 2,648,073 
 7,330Apr. 2012 
 1,584,770 
 1,577,905 
 98,593 
 1,486,176 
 2,631,505 
 6,865May 2012 
 1,556,689 
 1,550,503 
 99,230 
 1,457,460 
 2,609,160 
 6,187June 2012 
 1,557,175 
 1,551,961 
 99,699 
 1,457,475 
 2,615,667 
 5,214July 2012 
 1,584,049 
 1,579,791 
 101,000 
 1,483,049 
 2,649,394 
 4,258Aug. 2012 
 1,582,288 
 1,579,017 
 104,538 
 1,477,750 
 2,654,466 
 3,271Sep. 2012 
 1,515,888 
 1,513,923 
 106,447 
 1,409,441 
 2,597,253 
 1,965Oct. 2012 
 1,525,144 
 1,523,678 
 106,870 
 1,418,274 
 2,615,620 
 1,466Nov. 2012 
 1,546,809 
 1,545,757 
 111,505 
 1,435,303 
 2,643,300 
 1,051Dec. 2012 
 1,569,019 
 1,568,223 
 110,269 
 1,458,749 
 2,672,585 
 795Jan. 2013 
 1,630,875 
 1,630,310 
 111,416 
 1,519,459 
 2,740,901 
 565Two weeks ending 7Dec 26, 2012 
 1,561,071 
 1,560,331 
 108,392 
 1,452,679 
 2,666,220 
 740Jan 9, 2013 
 1,575,784 
 1,575,194 
 112,305 
 1,463,479 
 2,682,692 
 590Jan 23, 2013 
 1,633,291 
 1,632,727 
 111,402 
 1,521,890 
 2,744,156 
 565Feb 6, 2013 
 1,688,624 
 1,688,085 
 110,440 
 1,578,184 
 2,800,688 
 539Feb 20, 2013 p 
 1,731,104 
 1,730,637 
 115,670 
 1,615,434 
 2,841,716 
 468 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 3Jan. 2012 
 8,614 
 27 
 0 
 7 
 8,580 
 0Feb. 2012 
 7,933 
 13 
 0 
 1 
 7,920 
 0Mar. 2012 
 7,330 
 12 
 0 
 4 
 7,314 
 0Apr. 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 
 0Two weeks ending 4Dec 26, 2012 
 740 
 15 
 0 
 27 
 698 
 0Jan 9, 2013 
 590 
 18 
 0 
 17 
 556 
 0Jan 23, 2013 
 565 
 7 
 0 
 3 
 555 
 0Feb 6, 2013 
 539 
 12 
 0 
 2 
 526 
 0Feb 20, 2013 p 
 468 
 8 
 0 
 1 
 460 
 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 9Jan. 2012 
 1,619,192 
 1,610,578 
 99,741 
 2,640,756 
 1,568,915 
 61,180 
 50,277 
 10,903Feb. 2012 
 1,659,924 
 1,651,991 
 99,803 
 2,694,530 
 1,609,775 
 61,077 
 50,149 
 10,928Mar. 2012 
 1,606,345 
 1,599,016 
 96,752 
 2,654,466 
 1,557,859 
 59,126 
 48,486 
 10,640Apr. 2012 
 1,586,705 
 1,579,840 
 100,528 
 2,640,107 
 1,537,808 
 59,007 
 48,896 
 10,110May 2012 
 1,558,506 
 1,552,319 
 101,046 
 2,616,307 
 1,510,119 
 58,402 
 48,387 
 10,015June 2012 
 1,555,380 
 1,550,166 
 97,905 
 2,618,073 
 1,507,596 
 58,076 
 47,784 
 10,292July 2012 
 1,583,770 
 1,579,512 
 100,721 
 2,648,865 
 1,535,052 
 58,744 
 48,718 
 10,026Aug. 2012 
 1,582,193 
 1,578,923 
 104,443 
 2,650,395 
 1,532,976 
 58,853 
 49,217 
 9,636Sep. 2012 
 1,517,507 
 1,515,542 
 108,066 
 2,593,767 
 1,468,681 
 58,472 
 48,826 
 9,646Oct. 2012 
 1,525,582 
 1,524,117 
 107,308 
 2,611,517 
 1,476,730 
 59,311 
 48,853 
 10,458Nov. 2012 
 1,546,110 
 1,545,059 
 110,807 
 2,641,911 
 1,497,506 
 59,200 
 48,604 
 10,596Dec. 2012 
 1,570,385 
 1,569,589 
 111,635 
 2,675,024 
 1,517,425 
 63,895 
 52,960 
 10,935Jan. 2013 
 1,636,937 
 1,636,372 
 117,478 
 2,742,320 
 1,582,524 
 64,183 
 54,413 
 9,770Two weeks ending 10Dec 26, 2012 
 1,564,766 
 1,564,026 
 112,087 
 2,670,946 
 1,510,351 
 65,049 
 54,415 
 10,635 
 4,184Jan 9, 2013 
 1,577,346 
 1,576,756 
 113,867 
 2,687,609 
 1,523,445 
 64,212 
 53,901 
 10,311 
 4,283Jan 23, 2013 
 1,638,132 
 1,637,568 
 116,242 
 2,741,780 
 1,585,642 
 62,014 
 52,490 
 9,524 
 4,314Feb 6, 2013 
 1,701,887 
 1,701,348 
 123,703 
 2,804,814 
 1,643,531 
 67,947 
 58,356 
 9,591 
 4,356Feb 20, 2013 p 
 1,727,030 
 1,726,563 
 111,596 
 2,841,037 
 1,675,343 
 63,578 
 51,687 
 11,891 
 4,643 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 5Jan. 2012 
 1,618,994 
 1,610,380 
 99,543 
 2,638,410Feb. 2012 
 1,659,832 
 1,651,898 
 99,711 
 2,692,502Mar. 2012 
 1,606,183 
 1,598,853 
 96,589 
 2,652,410Apr. 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 
 1,524,699 
 1,523,233 
 106,424 
 2,610,851Nov. 2012 
 1,545,094 
 1,544,043 
 109,790 
 2,641,158Dec. 2012 
 1,569,433 
 1,568,638 
 110,684 
 2,674,311Jan. 2013 
 1,636,788 
 1,636,223 
 117,329 
 2,742,182Two weeks ending 6Dec 26, 2012 
 1,563,648 
 1,562,909 
 110,970 
 2,670,119Jan 9, 2013 
 1,577,128 
 1,576,539 
 113,649 
 2,687,392Jan 23, 2013 
 1,637,986 
 1,637,421 
 116,096 
 2,741,646Feb 6, 2013 
 1,701,809 
 1,701,270 
 123,625 
 2,804,759Feb 20, 2013 p 
 1,726,920 
 1,726,453 
 111,486 
 2,840,960 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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