Federal Reserve reserve balances

USD billions

01,474.052,948.092,930.19Sep 23 average2,948.09Sep 30 average2,881.69Sep 30 Wednesday
Weekly averages versus a separately labeled Wednesday observation. Sep 23 calculated as Sep 30 average less the reported weekly increase. Not a bank-by-bank liquidity measure.

Sources: [3] Federal Reserve H.4.1 · 2026-10-01

This analysis examines the implications of the week’s verified reporting, the assumptions behind the financial measures and the developments to monitor next.

ORIGINAL ANALYSIS · MEMBER ACCESS

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