| Date | Total Reserves |
|---|---|
| 2006-03-01 | 10.38 | 2006-06-01 | 10.68 | 2006-09-01 | 9.68 | 2006-12-01 | 8.54 | 2007-03-01 | 8.77 | 2007-06-01 | 8.99 | 2007-09-01 | 9.39 | 2007-12-01 | 8.35 | 2008-03-01 | 10.08 | 2008-06-01 | 10.37 | 2008-09-01 | 32.34 | 2008-12-01 | 542.74 | 2009-03-01 | 736.78 | 2009-06-01 | 828.78 | 2009-09-01 | 808.79 | 2009-12-01 | 1071.29 | 2010-03-01 | 1131.44 | 2010-06-01 | 1066.43 | 2010-09-01 | 1029.59 | 2010-12-01 | 1008.81 | 2011-03-01 | 1226.92 | 2011-06-01 | 1549.80 | 2011-09-01 | 1623.44 | 2011-12-01 | 1563.42 | 2012-03-01 | 1579.38 | 2012-06-01 | 1517.57 | 2012-09-01 | 1513.88 | 2012-12-01 | 1496.29 | 2013-03-01 | 1673.41 | 2013-06-01 | 1921.82 | 2013-09-01 | 2189.46 | 2013-12-01 | 2438.50 | 2014-03-01 | 2569.77 | 2014-06-01 | 2648.90 | 2014-09-01 | 2747.33 | 2014-12-01 | 2608.33 |
| Status | QE1 | QE2/MEP | QE3 |
|---|---|---|---|
| Assessed institutions | 0.66 | 0.22 | 0.04 | Uninsured and reserves−exempt institutions | 0.34 | 0.78 | 0.96 |
| Status | QE1 | QE2/MEP | QE3 |
|---|---|---|---|
| Assessed institutions | 0.75 | 1.93 | 0.76 | Uninsured and reserves−exempt institutions | 0.26 | 3.83 | 9.96 |
This figure is in ledger table format.
(a) QE1 Program
Federal Reserve System
Assets
Agency Debt: +172
Agency MBS: +1,250
Treasuries: +300
Liabilities
Reserves: +1,722
Banking System
Assets
Reserves: +1,722
Agency Debt: -172
Agency MBS: -1,250
Treasuries: -300
(b) QE2 Program
Federal Reserve System
Assets
Treasuries: +$600
Liabilities
Reserves: +$600
Banking System
Assets
Reserves: +$600
Treasuries: -$600
(c) Maturity Extension Program
Federal Reserve System
Assets
ST Treasuries: -667
LT Treasuries: +667
Net Premiums: +76
Liabilities
Reserves: +76
Banking System
Assets
Reserves: +76
ST Treasuries: -667
LT Treasuries: +667
Memo: $$\Delta$$ MTM: -76
(d) QE3 Program
Federal Reserve System
Assets
Agency MBS: +823
Treasuries: +790
Liabilities
Reserves: +1,613
Banking System
Assets
Reserves: +1,613
Agency MBS: -823
Treasuries: -790
| Date | Uninsured and reserves−exempt institutions | Assessed institutions |
|---|---|---|
| 2008q4 | 100 | 100 | 2009q1 | 100.76 | 99.05 | 2009q2 | 102.35 | 98.63 | 2009q3 | 103.23 | 96.70 | 2009q4 | 103.82 | 97.17 | 2010q1 | 103.60 | 103.16 | 2010q2 | 104.73 | 103.54 | 2010q3 | 105.24 | 107.57 | 2010q4 | 105.40 | 118.76 | 2011q1 | 104.29 | 126.57 | 2011q2 | 105.73 | 131.53 | 2011q3 | 106.95 | 140.14 | 2011q4 | 108.28 | 145.11 | 2012q1 | 108.46 | 149.93 | 2012q2 | 110.97 | 152.67 | 2012q3 | 112.81 | 159.06 | 2012q4 | 115.45 | 162.17 | 2013q1 | 115.30 | 167.34 | 2013q2 | 118.15 | 170.10 | 2013q3 | 120.49 | 173.33 | 2013q4 | 124.40 | 169.09 | 2014q1 | 126.49 | 173.76 | 2014q2 | 131.35 | 178.87 | 2014q3 | 134.90 | 179.19 |
This figure depicts a graph of loan supply and demand schedules. The interest rate is on the vertical axis, and the amount of lending is on the horizontal axis. A pre-QE3 loan demand schedule is drawn as a downward sloping line. Two upward-sloping loan supply curves are also shown. The supply curve (indicated with the number 0) for FDIC-assessed institutions is drawn above the loan supply curve for FDIC-exempt institutions (indicated with the number 1). The point of intersection of these two curves with the pre-QE3 loan demand curve is labeled on the x-axis, showing that the equilibrium volume of lending for FDIC-assessed institutions is below that of FDIC-exempt institutions. A dashed, downward-sloping red line to the right of the pre-QE3 loan demand curve is labeled post-QE3, showing the growth in loan demand relative to the pre-QE3 level.