Sum of the currency in the hands of the public and the currency commercial banks keep as reserves
Usually, the currency and central bank deposits that together provide the base for the money supply under fractional reserve banking. Also defined as the central bank assets the acquisition of which creates this monetary base by injecting domestic money into the economy. The latter definition usually includes international reserves and domestic credit. By either definition, the monetary base changes as a result of open market operations and exchange market intervention.
The sum of reserve accounts of financial institutions at Federal Reserve banks and currency in circulation. It is the ultimate source of the nation's money supply and is controllable, to some degree, by Federal Reserve monetary policy. The adjusted monetary base data is compiled weekly by the Federal Reserve Board and the Federal Reserve Bank of St. Louis, and is adjusted seasonally.