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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                                                   January 13, 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)
  2009-Dec.                   1139002              969075               63668             1075335             2018027              169927
                                                                                                                                         
  2010-Jan.                   1108995              966852               63060             1045935             1986885              142142
       Feb.                   1224790             1113563               62792             1161998             2109173              111227
       Mar.                   1185964             1094320               65447             1120517             2074878               91644
                                                                                                                                         
       Apr.                   1116368             1036143               66029             1050339             2009933               80225
       May                    1109412             1033787               64505             1044908             2007201               75626
       June                   1099258             1029361               64227             1035031             1998986               69897
                                                                                                                                         
       July                   1087162             1021315               65449             1021714             1989991               65847
       Aug.                   1085607             1025524               66023             1019584             1994243               60083
       Sep.                   1048360              995839               67504              980855             1963317               52521
                                                                                                                                         
       Oct.                   1040217              991644               66668              973549             1963388               48573
       Nov.                   1038710              992021               66693              972017             1969468               46689
       Dec. p                 1077806             1032317               70636             1007170             2009434               45488

 Two weeks ending(7)                                                                                                                           
  2010-Nov. 17                1033010              986376               66763              966247             1963546               46634
                                                                                                                                         
       Dec.  1                1045323              998761               66494              978828             1977356               46562
            15                1097065             1051376               72221             1024844             2030201               45689
            29                1060974             1015632               69778              991195             1991109               45342
                                                                                                                                         
  2011-Jan. 12p               1077056             1032481               67615             1009441             2008372               44575
------------------------------------------------------------------------------------------------------------------------------------------------  
 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)                                                                                                                                            
  2009-Dec.                  169927         82014          19025            518             37          22023             46310               0
                                                                                                                                               
  2010-Jan.                  142142         54209          16407            965              5          23213             47342               0
       Feb.                  111227         23677          14258            873              1          25544             46874               0
       Mar.                   91644          7286          11136            658              7          25252             47306               0
                                                                                                                                               
       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. p                 45488             0             41              3             26          20394             25025               0
                                                                                                                                             
 Two weeks ending(5)                                                                                                                         
  2010-Nov. 17                46634             0             19              1             20          19553             27043               0
                                                                                                                                               
       Dec.  1                46562             0            175              0             25          20456             25906               0
            15                45689             0             30              0             28          20399             25234               0
            29                45342             0             40              8             26          20452             24817               0
                                                                                                                                               
  2011-Jan. 12p               44575             0             62              0             13          19922             24580               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. 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-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      1037214         67100      2014653      1076482        53782        40957         12825
       May              1111363      1035737         66455      2011298      1070841        52726        40522         12204
       June             1099199      1029302         64169      2001543      1058787        53044        40412         12632
                                                                                                                            
       July             1087696      1021849         65982      1994095      1046940        53943        40756         13187
       Aug.             1085018      1024935         65434      1993692      1044124        53969        40894         13075
       Sep.             1047826       995305         66970      1960412      1006741        53071        41084         11987
                                                                                                                            
       Oct.             1039606       991033         66057      1961343       998516        53641        41090         12551
       Nov.             1038553       991864         66536      1970685       997747        53386        40806         12580
       Dec. p           1077900      1032412         70730      2016205      1035081        56122        42819         13304

 Two weeks ending(10)                                                                                                                    
  2010-Nov. 17          1028462       981828         62215      1961661       988714        54123        39749         14374         2309
                                                                                                                                         
       Dec.  1          1049303      1002742         70475      1982389      1007481        52851        41822         11029         2059
            15          1093059      1047370         68214      2030852      1052226        55704        40833         14870         2309
            29          1065037      1019696         73842      2003985      1020075        56685        44963         11722         2288
                                                                                                                                         
  2011-Jan. 12p         1076132      1031557         66691      2016135      1033921        56754        42211         14543         2515
--------------------------------------------------------------------------------------------------------------------------------------------   
 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-Dec.                        1139068               969141                63733              2022150
                                                                                                         
  2010-Jan.                        1112257               970114                66322              1991872
       Feb.                        1225432              1114205                63434              2111762
       Mar.                        1184415              1092771                63898              2077025
                                                                                                         
       Apr.                        1117322              1037097                66983              2011871
       May                         1111214              1035589                66307              2008539
       June                        1099025              1029127                63994              1998905
                                                                                                         
       July                        1087478              1021631                65764              1991476
       Aug.                        1084765              1024682                65181              1991063
       Sep.                        1047539               995018                66683              1957791
                                                                                                         
       Oct.                        1039301               990728                65752              1958738
       Nov.                        1038214               991525                66197              1968092
       Dec. p                      1077548              1032060                70378              2013612

 Two weeks ending(6)                                                       
  2010-Nov. 17                     1028144               981510                61896              1959085
                                                                                                         
       Dec.  1                     1048940              1002379                70112              1979785
            15                     1092711              1047022                67866              2028264
            29                     1064639              1019298                73444              2001363
                                                                                                         
  2011-Jan. 12p                    1076076              1031501                66635              2013701
 ----------------------------------------------------------------------------------------------------------
 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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