---

`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                                                  September 2, 2010
 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)
  2009-July                    794993              428032               62521              732472             1666506              366961
       Aug.                    828420              496970               62644              765776             1703410              331450
       Sep.                    922442              615616               62446              859996             1801039              306827
                                                                                                                                         
       Oct.                   1056301              791243               61703              994598             1936560              265058
       Nov.                   1140570              923263               63427             1077143             2018931              217307
       Dec.                   1138588              968661               63253             1075335             2017668              169927
                                                                                                                                         
  2010-Jan.                   1108875              966733               62941             1045935             1986802              142142
       Feb.                   1224521             1113294               62523             1161998             2109312              111227
       Mar.                   1186315             1094670               65797             1120517             2075411               91644
                                                                                                                                         
       Apr.                   1116840             1036615               66501             1050339             2010526               80225
       May                    1109490             1033864               64582             1044908             2007398               75626
       June                   1099215             1029318               64185             1035031             1999074               69897
                                                                                                                                         
       July                   1087100             1021253               65385             1021715             1990198               65847

 Two weeks ending(7)                                                                                                                           
  2010-June 30                1091570             1022934               64507             1027062             1991649               68636
                                                                                                                                         
       July 14                1094376             1027472               63893             1030482             1996973               66904
            28                1079022             1013650               66954             1012068             1981923               65372
                                                                                                                                         
       Aug. 11                1090840             1027709               65022             1025818             1997199               63131
            25p               1085833             1025939               65694             1020139             1995423               59894
------------------------------------------------------------------------------------------------------------------------------------------------  
 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
 -----------------------------------------------------------------------------------------------------------------------------------------------------
                                                                              Other borrowings from the Federal Reserve(1)                                       
                                                 -----------------------------------------------------------------------------------------------------
      Date                  Total                                                          Asset-Backed       Credit          Term                           
                          borrowings    Term                                             Commercial Paper   extended to   Asset-Backed     Other     
                           from the    auction      Primary     Secondary    Seasonal      Money Market      American      Securities      credit   
                           Federal     credit                                               Mutual Fund    International      Loan       extensions 
                           Reserve                                                          Liquidity      Group, Inc.,    Facility(3)           
                                                                                             Facility         net(2)               
 -----------------------------------------------------------------------------------------------------------------------------------------------------
 Month(4)                                                                                                                                                 
  2009-July                 366961       255119        34366           66           80          6230            43108           27993             0
       Aug.                 331450       224490        32147          600          110           184            40021           33898             0
       Sep.                 306827       196731        29243          554          111            79            39074           41036             0
                                                                                                                                                   
       Oct.                 265058       155396        25163          402           82            28            41222           42765             0
       Nov.                 217307       110049        20434           38           67             0            43222           43497             0
       Dec.                 169927        82014        19025          518           37             0            22023           46310             0
                                                                                                                                                   
  2010-Jan.                 142142        54209        16407          965            5             0            23213           47342             0
       Feb.                 111227        23677        14258          873            1             0            25544           46874             0
       Mar.                  91644         7286        11136          658            7             0            25252           47306             0
                                                                                                                                                   
       Apr.                  80225          796         6468          583           22             0            25739           46617             0
       May                   75626            0         4198          423           42             0            26397           44565             0
       June                  69897            0          288          212           59             0            25937           43401             0
                                                                                                                                                   
       July                  65847            0           39            1           75             0            24185           41548             0
                                                                                                                                                  
 Two weeks ending(5)                                                                                                                              
  2010-June 30               68636            0          157          115           71             0            25307           42989             0
                                                                                                                                                   
       July 14               66904            0           64            1           71             0            24541           42229             0
            28               65372            0           18            1           78             0            23965           41311             0
                                                                                                                                                   
       Aug. 11               63131            0           25            1           81             0            23549           39476             0
            25p              59894            0           20            1           88             0            21801           37986             0
---------------------------------------------------------------------------------------------------------------------------------------------------------------  
 1. The Federal Reserve Bank of New York (FRBNY) has extended credit to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and Commercial Paper Funding
    Facility 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 either the sole or 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. Includes outstanding principal and capitalized interest net of unamortized deferred commitment fees and allowance for loan restructuring. Excludes 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)                                                                                
  2009-July              796541       429580         64069      1673119       758905        51682        37636         14046
       Aug.              828760       497310         62984      1706224       790778        51951        37982         13969
       Sep.              922607       615781         62611      1800234       884220        52037        38388         13649
                                                                                                                            
       Oct.             1056728       791670         62130      1935901      1017784        52974        38944         14030
       Nov.             1141608       924301         64466      2022323      1102468        52750        39141         13610
       Dec.             1140463       970536         65129      2026233      1099855        55198        40609         14589
                                                                                                                            
  2010-Jan.             1112379       970236         66444      1994859      1070726        55828        41653         14174
       Feb.             1225472      1114245         63474      2114536      1183771        56656        41701         14955
       Mar.             1184489      1092845         63972      2079784      1143656        55644        40833         14811
                                                                                                                            
       Apr.             1117439      1037215         67101      2014653      1076482        53782        40957         12825
       May              1111363      1035738         66456      2011298      1070841        52726        40522         12204
       June             1099200      1029302         64169      2001543      1058787        53044        40412         12632
                                                                                                                            
       July             1087698      1021851         65983      1994089      1046940        53946        40757         13188

 Two weeks ending(10)                                                                                                                    
  2010-June 30          1094208      1025572         67145      1994386      1051869        53935        42339         11597         2025
                                                                                                                                         
       July 14          1092137      1025234         61655      2001296      1052772        54466        39366         15101         2264
            28          1082859      1017487         70790      1986117      1040714        53107        42145         10962         2066
                                                                                                                                         
       Aug. 11          1089565      1026434         63746      1997659      1048788        55430        40777         14653         2373
            25p         1086250      1026356         66111      1994570      1045261        53441        40989         12452         2102
--------------------------------------------------------------------------------------------------------------------------------------------   
 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)
  2009-July                         795657               428695                63185              1667810
       Aug.                         827679               496229                61903              1700725
       Sep.                         921373               614547                61377              1795538
                                                                                                         
       Oct.                        1055319               790261                60721              1931546
       Nov.                        1139997               922690                62855              2018071
       Dec.                        1138720               968793                63386              2021897
                                                                                                         
  2010-Jan.                        1112268               970125                66333              1991882
       Feb.                        1225450              1114223                63452              2111773
       Mar.                        1184449              1092805                63932              2077047
                                                                                                         
       Apr.                        1117376              1037151                67037              2011909
       May                         1111283              1035658                66376              2008586
       June                        1099106              1029209                64075              1998959
                                                                                                         
       July                        1087580              1021734                65865              1991538

 Two weeks ending(6)                                                       
  2010-June 30                     1094106              1025470                67043              1991842
                                                                                                         
       July 14                     1092035              1025132                61553              1998755
            28                     1082728              1017356                70660              1983555
                                                                                                         
       Aug. 11                     1089436              1026305                63618              1995110
            25p                    1086112              1026218                65973              1992015
 ----------------------------------------------------------------------------------------------------------
 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). For paid electronic access to current and historical data, call STAT-USA at
       1-800-782-8872 or 202-482-1986. 

 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

---

Home Economic research and data  Accessibility Contact Us  Last update: September 2, 2010