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`FEDERAL RESERVE statistical release
  
 H.3 (502)
 Table 1                                                                                                For release at 4:30 p.m. Eastern Time
 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE                                                   October 20, 2011
 Adjusted for changes in reserve requirements(1)                                                                                              
 Seasonally adjusted unless noted otherwise
 Millions of dollars
 -----------------------------------------------------------------------------------------------------------------------------------------------
                                             Reserves of depository institutions                             
                      ---------------------------------------------------------------------------------
                                                                                                                              Total borrowings    
      Date                      Total            Nonborrowed           Required            Excess,            Monetary            from the    
                                 (2)                 (3)                                     NSA                base          Federal Reserve,    
                                                                                             (4)                 (5)                NSA     
------------------------------------------------------------------------------------------------------------------------------------------------
 Month(6)
  2010-Sep.                   1048394              995873               67562              980831             1963269               52521
                                                                                                                                         
       Oct.                   1040286              991713               66764              973521             1962117               48573
       Nov.                   1038795              992106               66800              971995             1967315               46689
       Dec.                   1077904             1032415               70766             1007138             2008548               45488
                                                                                                                                         
  2011-Jan.                   1106601             1074355               69527             1037074             2041568               32246
       Feb.                   1262850             1240917               71555             1191296             2206432               21933
       Mar.                   1436408             1416526               73730             1362678             2390202               19882
                                                                                                                                         
       Apr.                   1526618             1508775               74497             1452121             2491143               17842
       May                    1587504             1572358               74802             1512702             2562110               15146
       June                   1666385             1653142               77577             1588808             2647223               13243
                                                                                                                                         
       July                   1696197             1683802               78010             1618187             2681463               12395
       Aug.                   1667370             1655536               83853             1583517             2658929               11834
       Sep.                   1644319             1632744               92999             1551319             2640410               11575

 Two weeks ending(7)                                                                                                                           
  2011-Aug. 24                1659449             1647616               81648             1577801             2651638               11833
                                                                                                                                         
       Sep.  7                1660451             1648766               91897             1568554             2654353               11685
            21                1641819             1630205               93054             1548765             2638129               11614
                                                                                                                                         
       Oct.  5                1635659             1624230               93771             1541887             2633115               11429
            19p               1664258             1652941               91962             1572296             2661634               11317
------------------------------------------------------------------------------------------------------------------------------------------------  
 1. 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.)
 2. 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.)
 3. Seasonally adjusted, break-adjusted nonborrowed reserves equal seasonally adjusted, break-adjusted total reserves less unadjusted total
    borrowings from the Federal Reserve.
 4. Excess reserves NSA equals unadjusted total reserves (table 2, column 1) less unadjusted required reserves (table 2, column 3).
 5. 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.)
 6. Prorated averages of biweekly averages.
 7. Averages of daily figures.
 
 p  preliminary
1
   
  
  
  
 H.3 (502)
 Table 1a                                                                                                
 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE                                                          
 Not seasonally adjusted
 Millions of dollars
 -------------------------------------------------------------------------------------------------------------------------------
                                                              Borrowings from the Federal Reserve(1)                                     
                           -----------------------------------------------------------------------------------------------------
      Date                                                                            Credit            Term                             
                                                                                    extended to     Asset-Backed       Other     
                            Total        Primary        Secondary     Seasonal       American        Securities        credit   
                                                                                   International        Loan         extensions 
                                                                                   Group, Inc.,      Facility(3)             
                                                                                      net(2)                      
 -------------------------------------------------------------------------------------------------------------------------------
 Month(4)                                                                                                                                
  2010-Sep.                   52521            32              0             77          19791          32620                 0      
                                                                                                                                     
       Oct.                   48573            37              0             46          19478          29012                 0      
       Nov.                   46689            89              0             23          19912          26665                 0      
       Dec.                   45488            41              3             26          20394          25025                 0      
                                                                                                                                     
  2011-Jan.                   32246            51              0             10           8368          23818                 0      
       Feb.                   21933            28              0              3                         21902                 0      
       Mar.                   19882            11              0              6                         19864                 0      
                                                                                                                                     
       Apr.                   17842            14              0              8                         17820                 0      
       May                    15146            10              1             20                         15115                 0      
       June                   13243            24              0             42                         13178                 0      
                                                                                                                                     
       July                   12395             7              0             73                         12315                 0      
       Aug.                   11834             5              0             92                         11737                 0      
       Sep.                   11575            19              0             81                         11474                 0      
                                                                                                                                     
 Two weeks ending(5)                                                                                                                 
  2011-Aug. 24                11833             4              0             99                         11731                 0      
                                                                                                                                     
       Sep.  7                11685             5              0             87                         11594                 0      
            21                11614            21              0             78                         11515                 0      
                                                                                                                                     
       Oct.  5                11429            28              0             83                         11318                 0      
            19p               11317            21              1             52                         11244                 0      
--------------------------------------------------------------------------------------------------------------------------------  
 1. 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.
 2. As a result of the closing of the American International Group, Inc. (AIG) recapitalization plan on January 14, 2011, the
    credit extended to AIG was fully repaid and the Federal Reserve's commitment to lend any further funds was terminated.
    Before the closing of the AIG recapitalization plan, this borrowing category included outstanding principal and capitalized
    interest under the revolving credit facility net of unamortized deferred commitment fees and allowance for loan restructuring,
    and it excluded credit extended to consolidated LLCs as described in footnote 1 above.
 3. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities
    Loan Facility.
 4. Prorated averages of biweekly averages.
 5. Averages of daily figures.

 p  preliminary
1        
   
   
   
 H.3 (502)
 Table 2
 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
 Not adjusted for changes in reserve requirements(1) 
 Not seasonally adjusted
 Millions of dollars
 -------------------------------------------------------------------------------------------------------------------------------------------
                        Reserves of depository institutions                                         Vault cash(5)
                      --------------------------------------                             ------------------------------------
                                                                             Reserve                    Used to                      Net
      Date                Total     Nonborrowed   Required     Monetary      balances       Total       satisfy      Surplus      carryover
                           (2)                                   base       with F.R.                  required        (7)        of reserve
                                                                 (3)          Banks                    reserves                    balances
                                                                               (4)                        (6)                         (8)  
 -------------------------------------------------------------------------------------------------------------------------------------------
 Month(9)                                                                                
  2010-Sep.             1047860       995339         67028      1960414      1006743        53072        41117         11955
                                                                                                                            
       Oct.             1039673       991100         66151      1961337       998509        53648        41164         12485
       Nov.             1038637       991948         66643      1970691       997744        53389        40893         12496
       Dec.             1078000      1032511         70862      2016284      1035080        56127        42920         13207
                                                                                                                            
  2011-Jan.             1110353      1078106         73279      2047854      1066218        56093        44135         11959
       Feb.             1263700      1241767         72404      2210870      1219258        56618        44442         12176
       Mar.             1434880      1414998         72202      2394705      1391362        55365        43518         11847
                                                                                                                            
       Apr.             1527982      1510140         75861      2496500      1484154        55378        43828         11550
       May              1589826      1574680         77124      2566394      1546515        54784        43311         11473
       June             1665942      1652699         77134      2647993      1622467        55293        43475         11818
                                                                                                                            
       July             1696691      1684296         78504      2683808      1652348        56051        44343         11708
       Aug.             1666710      1654875         83193      2656930      1621212        56782        45497         11285
       Sep.             1643600      1632026         92281      2637065      1597078        56919        46522         10397

 Two weeks ending(10)                                                                                                                    
  2011-Aug. 24          1658670      1646838         80869      2648816      1613530        56405        45141         11264         2586
                                                                                                                                         
       Sep.  7          1660264      1648579         91709      2652555      1613756        56730        46508         10222         2844
            21          1638846      1627232         90080      2633298      1592879        56833        45967         10866         3297
                                                                                                                                         
       Oct.  5          1638037      1626609         96150      2630877      1590640        57201        47397          9803         3208
            19p         1658330      1647013         86034      2658296      1612335        58878        45996         12882         3501
--------------------------------------------------------------------------------------------------------------------------------------------   
 1. Reflects actual required reserves, with no adjustments to eliminate the effects of discontinuities, or "breaks," associated with 
    regulatory changes in reserve requirements.
 2. Reserve balances with Federal Reserve Banks plus vault cash used to satisfy reserve requirements.
 3. 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.
 4. Excludes required clearing balances and adjustments to compensate for float and includes other off-balance-sheet "as-of" adjustments.
 5. 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.
 6. 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.
 7. 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.
 8. 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.
 9. Prorated averages of biweekly averages.
10. Averages of daily figures.

 p  preliminary
1
  
  
  
 H.3 (502)
 Table 3
 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
 Adjusted for changes in reserve requirements(1)
 Not seasonally adjusted
 Millions of dollars
 ----------------------------------------------------------------------------------------------------------
                                       Reserves of depository institutions
                         ----------------------------------------------------------------
      Date                           Total             Nonborrowed            Required            Monetary
                                      (2)                                        (3)                base
                                                                                                    (4) 
 ----------------------------------------------------------------------------------------------------------
 Month(5)
  2010-Sep.                        1047572               995052                66741              1957793
                                                                                                         
       Oct.                        1039368               990795                65846              1958731
       Nov.                        1038297               991608                66303              1968097
       Dec.                        1077646              1032158                70509              2013692
                                                                                                         
  2011-Jan.                        1110307              1078061                73233              2045447
       Feb.                        1263662              1241729                72366              2208513
       Mar.                        1434813              1414931                72135              2392253
                                                                                                         
       Apr.                        1527871              1510029                75750              2493885
       May                         1589674              1574528                76972              2563746
       June                        1665762              1652519                76954              2645335
                                                                                                         
       July                        1696473              1684077                78285              2681138
       Aug.                        1666446              1654612                82929              2654270
       Sep.                        1643299              1631724                91979              2634357

 Two weeks ending(6)                                                       
  2011-Aug. 24                     1658408              1646576                80607              2646158
                                                                                                         
       Sep.  7                     1659974              1648289                91420              2649886
            21                     1638552              1626938                89787              2630587
                                                                                                         
       Oct.  5                     1637712              1626284                95825              2628144
            19p                    1658015              1646698                85719              2655580
 ----------------------------------------------------------------------------------------------------------
 Note: Current and historical H.3 data are available each week on the Federal Reserve Board's website
       (http://www.federalreserve.gov/). Monthly data are available back to January 1959, and weekly data 
       are available back to January 1975 for most series. For information about individual copies or
       subscriptions, contact Publications Services at the Federal Reserve Board (phone 202-452-3245, 
       fax 202-728-5886).

 1. Figures reflect adjustments for discontinuities, or "breaks," associated with regulatory changes in
    reserve requirements.
 2. Break-adjusted total reserves equal break-adjusted required reserves (table 3, column 3) plus excess
    reserves NSA (table 1, column 4).
 3. 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.
 4. 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.
 5. Prorated averages of biweekly averages.
 6. Averages of daily figures.

 p  preliminary`

Statistical releases

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