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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                                                       May 12, 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-Apr.                   1116371             1036147               66145             1050227             2009880               80225
       May                    1109378             1033753               64592             1044787             2007137               75626
       June                   1099260             1029363               64331             1034929             1999809               69897
                                                                                                                                         
       July                   1087205             1021358               65555             1021649             1991566               65847
       Aug.                   1085632             1025548               66065             1019567             1994969               60083
       Sep.                   1048372              995852               67529              980843             1963261               52521
                                                                                                                                         
       Oct.                   1040229              991656               66689              973540             1962120               48573
       Nov.                   1038711              992022               66692              972019             1967309               46689
       Dec.                   1077808             1032319               70634             1007173             2008532               45488
                                                                                                                                         
  2011-Jan.                   1106500             1074254               69401             1037099             2041572               32246
       Feb.                   1262763             1240830               71463             1191300             2206439               21933
       Mar.                   1436327             1416445               73642             1362685             2390204               19882
                                                                                                                                         
       Apr. p                 1526556             1508714               74426             1452131             2491134               17842

 Two weeks ending(7)                                                                                                                           
  2011-Mar.  9                1369248             1348825               73519             1295728             2319263               20423
            23                1439584             1419658               73144             1366440             2393732               19926
                                                                                                                                         
       Apr.  6                1506093             1486897               74652             1431441             2463839               19196
            20                1548461             1530531               74029             1474432             2512594               17930
                                                                                                                                         
       May   4p               1508167             1491260               74845             1433322             2477466               16908
------------------------------------------------------------------------------------------------------------------------------------------------  
 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                                                                    Credit            Term                             
                           borrowings     Term                                                      extended to     Asset-Backed       Other     
                            from the     auction        Primary       Secondary      Seasonal        American        Securities        credit   
                            Federal      credit                                                    International        Loan         extensions 
                            Reserve                                                                Group, Inc.,      Facility(3)             
                                                                                                      net(2)                 	  
 ------------------------------------------------------------------------------------------------------------------------------------------------
 Month(4)                                                                                                                                            
  2010-Apr.                   80225           796           6468            583             22          25739             46617               0
       May                    75626             0           4198            423             42          26397             44565               0
       June                   69897             0            288            212             59          25937             43401               0
                                                                                                                                               
       July                   65847             0             39              1             75          24185             41548               0
       Aug.                   60083             0             22              0             85          22064             37913               0
       Sep.                   52521             0             32              0             77          19791             32620               0
                                                                                                                                               
       Oct.                   48573             0             37              0             46          19478             29012               0
       Nov.                   46689             0             89              0             23          19912             26665               0
       Dec.                   45488             0             41              3             26          20394             25025               0
                                                                                                                                               
  2011-Jan.                   32246             0             51              0             10           8368             23818               0
       Feb.                   21933             0             28              0              3                            21902               0
       Mar.                   19882             0             11              0              6                            19864               0
                                                                                                                                               
       Apr. p                 17842             0             14              0              8                            17820               0
                                                                                                                                             
 Two weeks ending(5)                                                                                                                         
  2011-Mar.  9                20423             0             13              0              7                            20403               0
            23                19926             0              5              0              8                            19914               0
                                                                                                                                               
       Apr.  6                19196             0             21              0              4                            19171               0
            20                17930             0             13              0              8                            17910               0
                                                                                                                                               
       May   4p               16908             0             10              1             12                            16885               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-Apr.             1117445      1037220         67218      2014622      1076456        53813        40989         12825
       May              1111330      1035705         66543      2011260      1070761        52845        40569         12276
       June             1099202      1029304         64273      2001536      1058765        53121        40436         12685
                                                                                                                            
       July             1087737      1021890         66088      1994088      1046927        53973        40810         13164
       Aug.             1085042      1024959         65476      1993682      1044113        53973        40929         13044
       Sep.             1047838       995317         66995      1960404      1006733        53073        41105         11969
                                                                                                                            
       Oct.             1039617       991044         66077      1961342       998514        53633        41103         12530
       Nov.             1038554       991865         66535      1970686       997748        53365        40806         12559
       Dec.             1077902      1032414         70729      2016270      1035084        56102        42818         13284
                                                                                                                            
  2011-Jan.             1110247      1078001         73148      2047861      1066223        56083        44025         12058
       Feb.             1263612      1241679         72312      2210874      1219261        56609        44350         12259
       Mar.             1434801      1414919         72116      2394707      1391365        55356        43436         11920
                                                                                                                            
       Apr. p           1527920      1510078         75789      2496478      1484153        55369        43767         11603

 Two weeks ending(10)                                                                                                                    
  2011-Mar.  9          1368808      1348385         73079      2323809      1325585        54351        43223         11128         2371
            23          1436765      1416839         70325      2397785      1393664        55502        43102         12401         2418
                                                                                                                                         
       Apr.  6          1505607      1486411         74166      2469082      1461346        56232        44261         11970         2260
            20          1547353      1529423         72921      2516950      1504454        55313        42899         12414         2493
                                                                                                                                         
       May   4p         1514102      1497194         80780      2484255      1469417        54931        44685         10246         2482
--------------------------------------------------------------------------------------------------------------------------------------------   
 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-Apr.                        1117327              1037103                67101              2011840
       May                         1111181              1035556                66395              2008502
       June                        1099027              1029130                64098              1998898
                                                                                                         
       July                        1087519              1021672                65869              1991468
       Aug.                        1084789              1024706                65222              1991053
       Sep.                        1047551               995030                66708              1957783
                                                                                                         
       Oct.                        1039313               990740                65772              1958736
       Nov.                        1038215               991526                66196              1968093
       Dec.                        1077550              1032062                70377              2013679
                                                                                                         
  2011-Jan.                        1110202              1077956                73103              2045454
       Feb.                        1263573              1241640                72273              2208517
       Mar.                        1434734              1414852                72049              2392255
                                                                                                         
       Apr. p                      1527809              1509967                75679              2493864

 Two weeks ending(6)                                                       
  2011-Mar.  9                     1368753              1348330                73024              2321455
            23                     1436699              1416773                70259              2395331
                                                                                                         
       Apr.  6                     1505525              1486329                74085              2466520
            20                     1547249              1529319                72817              2514333
                                                                                                         
       May   4p                    1513964              1497057                80642              2481615
 ----------------------------------------------------------------------------------------------------------
 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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