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Home > Releases > H.3 Aggregate Reserves of Depository Institutions and the Monetary Base > Non-Borrowed Reserves of Depository Institutions (DISCONTINUED SERIES) (BOGNONBR)

Non-Borrowed Reserves of Depository Institutions (DISCONTINUED SERIES) (BOGNONBR)

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Units:  Levels | Chg. | Chg. from Yr. Ago | % Chg. | % Chg. from Yr. Ago | Comp. Annual Rate of Chg. | Cont. Comp. Rate of Chg. | Cont. Comp. Annual Rate of Chg.
Notes: Growth Rate Calculations | US recession dates
  Real-Time Period
Title Start     End     

Non-Borrowed Reserves of Depository Institutions 1996-12-12 2013-07-10
Non-Borrowed Reserves of Depository Institutions (DISCONTINUED SERIES) 2013-07-11 Current
 
Source    

Board of Governors of the Federal Reserve System (US) 1996-12-12 Current
 
Release    

H.3 Aggregate Reserves of Depository Institutions and the Monetary Base 1996-12-12 Current
 
Units    

Billions of Dollars 1996-12-12 Current
 
Frequency    

Monthly 1996-12-12 Current
 
Seasonal Adjustment    

Seasonally Adjusted 1996-12-12 Current
 
Notes    

By definition, nonborrowed reserves are equal to total reserves minus borrowed reserves. Borrowed reserves are equal to the sum of credit extended through the Federal Reserve's regular discount window programs and credit extended through certain Federal Reserve liquidity facilities. Total borrowings from the Federal Reserve are presented in table 1a of the release. Over much of 2008, in order to maintain a level of total reserves consistent with the Federal Open Market Committee's objective for the federal funds rate, increases in borrowed reserves were offset through a nearly commensurate decrease in nonborrowed reserves, which was accomplished through a reduction in the Federal Reserve's holdings of securities and other assets. The negative level of nonborrowed reserves was an arithmetic result of the fact that borrowings from the Federal Reserve liquidity facilities were larger than total reserves.

1996-12-12 2013-07-10
By definition, nonborrowed reserves are equal to total reserves minus borrowed reserves. Borrowed reserves are equal to the sum of credit extended through the Federal Reserve's regular discount window programs and credit extended through certain Federal Reserve liquidity facilities. Total borrowings from the Federal Reserve are presented in table 1a of the release. Over much of 2008, in order to maintain a level of total reserves consistent with the Federal Open Market Committee's objective for the federal funds rate, increases in borrowed reserves were offset through a nearly commensurate decrease in nonborrowed reserves, which was accomplished through a reduction in the Federal Reserve's holdings of securities and other assets. The negative level of nonborrowed reserves was an arithmetic result of the fact that borrowings from the Federal Reserve liquidity facilities were larger than total reserves.

This series has been discontinued. As of July 11, 2013 data in the new H.3 statistical release are no longer adjusted for regulatory changes in reserve requirements and are no longer seasonally adjusted. You can access the not seasonally adjusted series at http://research.stlouisfed.org/fred2/series/NONBORRES.

2013-07-11 Current
 

Related Categories

Money, Banking, & Finance > Monetary Data > Reserves


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