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   Aggregate Reserves of Depository Institutions and the Monetary Base - H.3 Current Release

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  Current Release (42 KB PDF)   Table 1
 Table 1a
 Table 2
 Table 3
   Table 1 Adjusted for changes in reserve requirements 1 
Seasonally adjusted unless noted otherwise. Millions of dollars.Date
 Reserves of depository institutions
 Monetary 
base 5
 Total 
borrowings 
 from the 
 Federal 
Reserve, 
 NSATotal 2
 Nonborrowed 3
 Required
 Excess, 
NSA 4Month 6Mar. 2012
 1,607,819
 1,600,490
 98,226
 1,509,593
 2,648,073
 7,330Apr. 2012
 1,584,770
 1,577,905
 98,593
 1,486,176
 2,631,505
 6,865May 2012
 1,556,689
 1,550,503
 99,230
 1,457,460
 2,609,160
 6,187June 2012
 1,557,175
 1,551,961
 99,699
 1,457,475
 2,615,667
 5,214July 2012
 1,584,049
 1,579,791
 101,000
 1,483,049
 2,649,394
 4,258Aug. 2012
 1,582,288
 1,579,017
 104,538
 1,477,750
 2,654,466
 3,271Sep. 2012
 1,515,888
 1,513,923
 106,447
 1,409,441
 2,597,253
 1,965Oct. 2012
 1,525,144
 1,523,678
 106,870
 1,418,274
 2,615,620
 1,466Nov. 2012
 1,546,809
 1,545,757
 111,505
 1,435,303
 2,643,301
 1,051Dec. 2012
 1,569,019
 1,568,223
 110,269
 1,458,749
 2,672,585
 795Jan. 2013
 1,630,874
 1,630,309
 111,415
 1,519,459
 2,740,901
 565Feb. 2013
 1,731,410
 1,730,945
 114,621
 1,616,788
 2,843,623
 465Mar. 2013 p
 1,813,069
 1,812,675
 114,914
 1,698,156
 2,929,020
 394Two weeks ending 7Feb 6, 2013
 1,688,622
 1,688,083
 110,439
 1,578,184
 2,800,687
 539Feb 20, 2013
 1,731,108
 1,730,640
 115,669
 1,615,439
 2,841,721
 468Mar 6, 2013
 1,764,028
 1,763,624
 115,924
 1,648,104
 2,879,154
 405Mar 20, 2013
 1,813,455
 1,813,063
 116,162
 1,697,294
 2,929,703
 392Apr 3, 2013 p
 1,839,328
 1,838,937
 112,774
 1,726,554
 2,955,350
 391 Footnotes Reserves and monetary base figures incorporate adjustments for discontinuities, or "breaks," associated with regulatory changes in reserve requirements. (For more information, refer to table 3.)
 Seasonally adjusted, break-adjusted total reserves equal seasonally adjusted, break-adjusted required reserves plus unadjusted excess reserves. (Also, refer to footnote 2 in table 2 and footnote 2 in table 3.)
 Seasonally adjusted, break-adjusted nonborrowed reserves equal seasonally adjusted, break-adjusted total reserves less unadjusted total borrowings from the Federal Reserve.
 Excess reserves NSA equals unadjusted total reserves (table 2, column 1) less unadjusted required reserves (table 2, column 3).
 The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally adjusted, break-adjusted total reserves plus (2) the seasonally adjusted currency component of the money stock plus (3), for all quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters whose vault cash exceeds their required reserves, the seasonally adjusted, break-adjusted difference between current vault cash and the amount applied to satisfy current reserve requirements. (Also, refer to footnote 3 in table 2 and footnote 4 in table 3.)
 Prorated averages of biweekly averages.
 Averages of daily figures. p=preliminary
 Back to top  Table 1a Not seasonally adjusted. Millions of dollars.Date
 Borrowings from the Federal Reserve 1Total
 Primary
 Secondary
 Seasonal
 Term 
 Asset-Backed 
 Securities 
 Loan Facility 2
 Other 
 credit 
 extensionsMonth 3Mar. 2012
 7,330
 12
 0
 4
 7,314
 0Apr. 2012
 6,865
 21
 0
 9
 6,834
 0May 2012
 6,187
 16
 0
 27
 6,143
 0June 2012
 5,214
 19
 0
 56
 5,139
 0July 2012
 4,258
 26
 0
 97
 4,135
 0Aug. 2012
 3,271
 39
 0
 138
 3,094
 0Sep. 2012
 1,965
 62
 0
 123
 1,781
 0Oct. 2012
 1,466
 17
 0
 66
 1,383
 0Nov. 2012
 1,051
 9
 0
 37
 1,006
 0Dec. 2012
 795
 12
 0
 23
 760
 0Jan. 2013
 565
 11
 0
 7
 548
 0Feb. 2013
 465
 10
 0
 1
 454
 0Mar. 2013 p
 394
 8
 0
 0
 386
 0Two weeks ending 4Feb 6, 2013
 539
 12
 0
 2
 526
 0Feb 20, 2013
 468
 8
 0
 1
 460
 0Mar 6, 2013
 405
 12
 0
 1
 392
 0Mar 20, 2013
 392
 6
 0
 0
 386
 0Apr 3, 2013 p
 391
 8
 0
 1
 382
 0 Footnotes The Federal Reserve Bank of New York (FRBNY) has extended credit to Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC, as discussed in the notes to the Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks." Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY because the FRBNY is the primary beneficiary of the LLCs. As a consequence of this consolidation, the extensions of credit from the FRBNY to these LLCs are eliminated from the Federal Reserve's balance sheet, and, thus, the loans are not included in borrowed reserves.
 Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
 Prorated averages of biweekly averages.
 Averages of daily figures. p=preliminary
 Back to top  Table 2 Not adjusted for changes in reserve requirements 1 
 Not seasonally adjusted. Millions of dollars.Date
 Reserves of depository institutions
 Monetary 
base 3
 Reserve 
 balances with 
F.R. Banks 4
 Vault cash 5
 Net 
 carryover 
 of reserve 
 balances 8Total 2
 Nonborrowed
 Required
 Total
 Used to satisfy 
 required 
 reserves 6
 Surplus 7Month 9Mar. 2012
 1,606,345
 1,599,016
 96,752
 2,654,466
 1,557,859
 59,126
 48,486
 10,640Apr. 2012
 1,586,705
 1,579,840
 100,528
 2,640,107
 1,537,808
 59,007
 48,896
 10,110May 2012
 1,558,506
 1,552,319
 101,046
 2,616,307
 1,510,119
 58,402
 48,387
 10,015June 2012
 1,555,380
 1,550,166
 97,905
 2,618,073
 1,507,596
 58,076
 47,784
 10,292July 2012
 1,583,770
 1,579,512
 100,721
 2,648,865
 1,535,052
 58,744
 48,718
 10,026Aug. 2012
 1,582,193
 1,578,923
 104,443
 2,650,395
 1,532,976
 58,853
 49,217
 9,636Sep. 2012
 1,517,507
 1,515,542
 108,066
 2,593,767
 1,468,681
 58,472
 48,826
 9,646Oct. 2012
 1,525,582
 1,524,117
 107,308
 2,611,517
 1,476,730
 59,311
 48,853
 10,458Nov. 2012
 1,546,110
 1,545,059
 110,807
 2,641,911
 1,497,506
 59,200
 48,604
 10,596Dec. 2012
 1,570,385
 1,569,589
 111,635
 2,675,024
 1,517,425
 63,895
 52,960
 10,935Jan. 2013
 1,636,936
 1,636,371
 117,477
 2,742,319
 1,582,524
 64,179
 54,412
 9,767Feb. 2013
 1,733,394
 1,732,929
 116,606
 2,846,095
 1,680,085
 63,901
 53,308
 10,592Mar. 2013 p
 1,811,301
 1,810,907
 113,145
 2,933,867
 1,760,359
 61,214
 50,942
 10,272Two weeks ending 10Feb 6, 2013
 1,701,885
 1,701,346
 123,702
 2,804,813
 1,643,531
 67,939
 58,354
 9,586
 4,356Feb 20, 2013
 1,727,034
 1,726,567
 111,596
 2,841,042
 1,675,343
 63,570
 51,691
 11,880
 4,643Mar 6, 2013
 1,768,156
 1,767,751
 120,052
 2,885,900
 1,715,799
 61,452
 52,356
 9,095
 4,168Mar 20, 2013
 1,806,533
 1,806,141
 109,239
 2,931,269
 1,757,160
 60,781
 49,373
 11,408
 4,492Apr 3, 2013 p
 1,840,903
 1,840,512
 114,350
 2,963,337
 1,788,735
 61,637
 52,168
 9,469
 4,115 Footnotes Reflects actual required reserves, with no adjustments to eliminate the effects of discontinuities, or "breaks," associated with regulatory changes in reserve requirements.
 Reserve balances with Federal Reserve Banks plus vault cash used to satisfy reserve requirements.
 The monetary base, not break-adjusted and not seasonally adjusted, consists of (1) total reserves plus (2) required clearing balances and adjustments to compensate for float at Federal Reserve Banks plus (3) the currency component of the money stock plus (4), for all quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters whose vault cash exceeds their required reserves, the difference between current vault cash and the amount applied to satisfy current reserve requirements. Currency and vault cash figures are measured over computation periods ending on Mondays. See note on simplification of reserve requirements.
 Excludes required clearing balances and adjustments to compensate for float and includes other off-balance-sheet "as-of" adjustments. See note on simplification of reserve requirements.
 Vault cash eligible to satisfy reserve requirements. It includes only vault cash held by those banks and thrifts that are not exempt from reserve requirements. Dates refer to the maintenance periods in which the vault cash can be used to satisfy reserve requirements.
 All vault cash held during the lagged computation period by "bound" institutions (i.e., those whose required reserves exceed their vault cash) plus the amount of vault cash applied during the maintenance period by "nonbound" institutions (i.e., those whose vault cash exceeds their required reserves) to satisfy current reserve requirements.
 Total vault cash eligible to satisfy reserve requirements, held by depository institutions not exempt from reserve requirements, minus the amount used to satisfy reserve requirements.
 Consists of carryover only at depository institutions maintaining reserves on the basis of two-week maintenance periods. Reflects excess (+) or deficit (-) reserves eligible to be carried forward into the two-week reserve maintenance period ending on the date shown.
 Prorated averages of biweekly averages.
 Averages of daily figures. p=preliminary
 Note on Simplification of Reserve Requirements
 Back to top  Table 3 Adjusted for changes in reserve requirements 1 
 Not seasonally adjusted. Millions of dollars.Date
 Reserves of depository institutions
 Monetary 
 base 4Total 2
 Nonborrowed
 Required 3Month 5Mar. 2012
 1,606,183
 1,598,853
 96,589
 2,652,410Apr. 2012
 1,586,434
 1,579,569
 100,257
 2,637,985May 2012
 1,558,118
 1,551,931
 100,658
 2,614,113June 2012
 1,554,929
 1,549,715
 97,454
 2,615,850July 2012
 1,583,212
 1,578,954
 100,163
 2,647,786Aug. 2012
 1,581,510
 1,578,239
 103,760
 2,649,885Sep. 2012
 1,516,731
 1,514,766
 107,290
 2,593,190Oct. 2012
 1,524,699
 1,523,233
 106,424
 2,610,851Nov. 2012
 1,545,094
 1,544,043
 109,790
 2,641,158Dec. 2012
 1,569,433
 1,568,638
 110,684
 2,674,311Jan. 2013
 1,636,787
 1,636,221
 117,328
 2,742,181Feb. 2013
 1,733,278
 1,732,813
 116,490
 2,846,014Mar. 2013 p
 1,811,106
 1,810,711
 112,950
 2,933,731Two weeks ending 6Feb 6, 2013
 1,701,807
 1,701,268
 123,623
 2,804,758Feb 20, 2013
 1,726,924
 1,726,456
 111,485
 2,840,965Mar 6, 2013
 1,768,001
 1,767,597
 119,898
 2,885,792Mar 20, 2013
 1,806,349
 1,805,957
 109,056
 2,931,141Apr 3, 2013 p
 1,840,670
 1,840,279
 114,117
 2,963,175 Footnotes  Figures reflect adjustments for discontinuities, or "breaks," associated with regulatory changes in reserve requirements.
 Break-adjusted total reserves equal break-adjusted required reserves (table 3, column 3) plus excess reserves NSA (table 1, column 4).
 To adjust required reserves for discontinuities due to regulatory changes in reserve requirements, a multiplicative procedure is used to estimate what required reserves would have been in past periods had current reserve requirements been in effect. Break-adjusted required reserves are equal to break-adjusted required reserves against transactions deposits.
 The break-adjusted monetary base equals (1) break-adjusted total reserves plus (2) the (unadjusted) currency component of the money stock plus (3), for all quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters whose vault cash exceeds their required reserves, the break-adjusted difference between current vault cash and the amount applied to satisfy current reserve requirements.
 Prorated averages of biweekly averages.
 Averages of daily figures. p=preliminary
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