H.4.1 Factors Affecting Reserve Balances of Depository Institutions

. V OF C,OVJ~ /. FEDERAL RESERVE m\ Factors Affecting Bank Reserves and '^f*AL RES^f r*' Condition Statement of F.R. Banks H.4.1 For immediate release January 22, 1976 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Jan. 21, Jan. 14, Jan. 22, Jan. 21, and related items 1976 1976 1975 1976 Reserve Bank credit: 1/ (In millions of dollars) 2/ U.S. Government securities-- Bought outright—System account 84,930 + 62 +4,427 85,756 Held under repurchase agreements 620 +620 - 154 Federal Agency obligations-- Bought outright 6,140 + 68 +1,452 6,312 Held under repurchase agreements 15 + 15 - 125 Acceptances-- Bought outright 736 6 + 106 736 Held under repurchase agreements 14 + 14 69 Loans- Total member bank borrowing 152 +108 - 442 841 Includes seasonal borrowing of: 9 -- 3 8 Other borrowing Float 2,405 -449 + 304 2,887 Other F.R. assets 3.373 - 41 - 70 3.395 Total Reserve Bank credit 98,385 +391 +5,428 99,927 Gold Stock 11,599 -- 53 11,599 Special Drawing Rights certif. acct. 500 -— + 100 500 Treasury currency outstanding 10.157 + 18 + 918 10.243 120,641 +409 +6,393 122,269 Currency in circulation * 84,357 -854 +6,926 84,198 Treasury cash holdings * .450 + 25 + ; 206 450 Treasury deposits with F.R. Banks 4,040 +626 +2,422 4,682 Foreign deposits with F.R. Banks 304 - 34 + 25 248 Other deposits with F.R. Banks 3/ 922 + 19 + 94 943 Other F.R. liabilities and capital 3 r 219 + 52 - 147 3.254 93,293 -166 +9,527 93,775 Member bank reserves: With Federal Reserve Banks 27,348 +575 -3,134 28,494 Currency and coin 8.735 -175 + 952 8.735 Total reserves held 4/ 36,214 +401 -2,051 37,360 Required reserves 35,986 +359 -2,093 35,986 Excess reserves 4/ 228 + 42 + 42 1,374 NOTE: A net of $66 million of surplus reserves were eligible to be carried forward from the week ended January 14, into the week ending January 21. On January 21, 1976, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $44,659 million, an increase of $1,807 million for the week. 1/ Net of $550 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Includes $71 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes $13 million of certain deposits of foreign-owned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by non-member institutions in the Federal Reserve System's program of credit restraint. 4/ Adjusted to include $131 million waivers of penalties for reserve deficiencies in accordance with Regulation D change effective November 19, 1975. * Estimated (Treasury's Figures). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since January 21, January 14, January 22, A S S E TS 1976 1976 1975 Gold certificate account 11,599 __ - 53 Special Drawing Rights certif. acct. * 500 tmmm + 100 Cash (2,473) 379 - 1 + 88 Loans 841 + 794 -1,603 Acceptances--Bought outright 736 + 1 + 90 Held under repurchase agreements «* w - 337 Federal Agency obligations--Bought outright 6,312 + 240 +1,624 Held under repurchase agreements mm * mm — - 664 U.S. Government securities: Bought outright—Bills 35,925 — — - 998 Certificates • ** — mm * mm Notes 44,236 + 247 +3,833 Bonds 5,595 + 74 +2,284 Total bought outright VV 85,756 + 321 +5,119 Held under repurchase agreements —— ** «• -3,317 Total U.S. Government securities 85.756 + 321 +1 802 T Total loans and securities 93,645 +1 ,356 + 912 Cash items in process of collection (1,881) 8,526 - 601 + 725 Bank premises 324 + 2 + 58 Operating Equipment 14 + 1 + 14 Other assets 2/ 3.057 + 30 - 605 TOTAL ASSETS (4,354) 118.044 + 781 +1.239 L I A B I L I T I ES Federal Reserve notes (2, 173) 74,784 - 913 +6,338 Deposits: Member bank-reserves account 28,494 +1 ,240 -7,990 U.S. Treasury--general account 4,682 + 465 +2,825 Foreign 248 + 13 + 18 Other 3/ 943 - 26 + 37 Total deposits 34,367 +1 ,692 -5,110 Deferred availability cash items (1,881) 5,639 - 86 + 375 Other liabilities and accrued dividends 1,059 - 16 - 416 TOTAL LIABILITIES (4,354) 115,849 + 677 +1,187 C A P I T AL A C C O U N TS Capital paid in 932 —— + 32 Surplus 928 —— + 31 Other capital accounts 335 + 104 11 Contingent liability on acceptances purchased, for foreign correspondents — -- - 487 * Figures in parentheses are the eliminations made in the consolidating process. y Includes $71 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. % Includes $13 million of certain deposits of foreign-owned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by nonmember institutions in the Federal Reserve System's program of credit restraint. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. JANUARY 21. 1976 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U.S. Government Federal Agency Loans Accept- securities obligations ances Holdings Weekly Holdings Weekly Ichanges changes Within 15 days 841 64 3,841 -130 19 - io 16 days to 90 days 447 19,659 +269 183 91 days to 1 year 225 21,192 -101 870 + 19 Over 1 year to 5 years 30,383 +110 3,302 +153 Over 5 years to 10 years 6,526 +100 1,300 + 46 Over 10 years -- 4.155 + 73 638 + 42 Digitized for FRASER Total 841 736 85,756 +321 6,312 +240 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 21, 1976 New Phila- Cleve- Rich- St. Minne- Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis Citv Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 11,599 530 3,330 668 888 981 611 1,768 449 206 419 422 1,327 Special Drawing Rights certif. acct. 500 24 124 31 43 45 28 79 20 10 18 19 59 F.R. notes of other banks 2,473 136 425 163 171 245 312 165 73 47 66 176 494 Other cash 379 22 29 8 48 45 46 33 28 15 44 18 43 Loans 841 15 200 24 * «• • •* 6 546 1 16 7 10 16 Acceptances: Bought outright 736 — 716 -- — — — -- -- -- — — — Held under repurchase agreements — — — — -- -- -- -- -- -- — Federal Agency obligations-- Bought outright 6,312 293 1,515 371 499 510 329 951 240 138 258 323 885 Held under repurchase agreements -- — -- — -- — -- — -- -- -- — — U.S. Government securities: Bought outright— Bills 35,925 1,670 8,621 2,110 2,838 2,903 1,876 5,411 1,369 785 1,468 1,837 5,037 Certificates —— —— —— — -- -- — — -- - - -- — — Notes 44,236 2,056 10,616 2,598 3,495 3,575 2,310 6,663 1,685 966 1,808 2,261 6,203 Bonds 5,595 260 1,343 328 442 452 292 843 213 122 229 286 785 Total bought outright 1/ 85,756 3,986 20,580 5,036 6,775 6,930 4,478 12,917 3,267 1,873 3,505 4,384 12,025 Held under repurchase agreements — — • — — m —— — — — — —— — • — — — — — — Total U.S. Government securities 85,756 3,986 20,580 5,036 6,775 6,930 4,478 12,917 3,267 1,873 3,505 4,384 12,025 Total loans and securities 93,645 4,294 23,031 5,431 7,274 7,440 4,813 14,414 3>508 2,027 3,770 4,717 12,926 Cash items in process of collection 10,407 397 1,257 337 567 1,484 942 1,207 583 464 971 704 1,494 Bank premises 324 90 21 52 25 23 14 17 13 32 17 12 8 Operating Equipment 14 -- 2 3 1 -- —— —— 3 1 -- 2 2 Other assets 2/ 3,057 75 1,794 98 125 130 104 232 62 39 63 79 256 Interdistrict settlement account -0- - 31 + 574 - 523 + 705 - 334 - 211 - 287 + 359 + 85 - 390 - 78 + 131 TOTAL 122.398 5,^37 30,587 6,268 9.847 10r0*>q 6,659 17.628 5.098 2.926 4.978 6.071 16.740 Xj Includes $71 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 4 2/ Includes assets denominated in foreign currencies. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 21, 1976 New Phila- Cleve- Rich- St. Minne- Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) L I A B I L I T I ES 77,257 3,854 19,451 4,542 6,674 7,050 3,832 12,245 3,279 1, 568 2,698 2,944 9,120 Federal Reserve notes DDDeee MMM ppp FFF UUU OOO ooo eee ooo ... ttt sss mmm rrr SSS TTT hhh iii ... bbb eee eee ooo ttt eee rrr iii ttt TTT sss rrr ggg aaa ::: rrr nnn lll bbb eee aaa ddd aaa nnn eee sss kkk ppp uuu ooo rrr rrr sss yyy eee iii ——— sss ttt ggg eee sss eee rrr nnn vvveee eee sss rrr aaalll aaaccccccooouuunnnttt 2 3 8 4 4 , , ,3 6 4 2 9 6 8 9 4 4 7 2 4 3 8 1, 9 2 2 0 8 0 0 7 0 9 L 7 9 7 I , 6 6 f 7 4 Q 4 9 8 9 4 , 269 1, 4 2 8 2 4 8 1 6 5 3 0 2 2 2 , , 0 3 4 3 9 5 1 9 8 7 9 1 1 1 , , 3 5 1 7 7 7 1 1 0 9 6 2 5 1 2 , , 7 1 2 7 1 8 3 1 8 6 2 9 7 3 4 , , 6 4 0 0 4 3 8 5 5 4 8 4 lr3 8 5 7 2 4 6 1 7 7 1 6 1 8 8 7 6 1 6 5 6 2 1 1 , , 1 3 1 6 3 5 9 1 1 9 2 1 2 , , 9 4 4 1 3 4 1 8 9 5 9 3 2 5 6, ,8 4 3 5 4 5 2 2 9 8 7 8 2 DDDeeefffeeerrrrrreeeddd aaavvvaaaiiilllaaabbbiiillliiitttyyy cccaaassshhh iiittteeemmmsss 7,520 349 1,049 277 448 1,223 482 812 332 409 817 507 815 OOOttthhheeerrr llliiiaaabbbiiillliiitttiiieeesss aaannnddd aaaccccccuuurrreeeddd dddiii TTT vvv OOO iii TTT ddd AAA eee LLL nnn ddd LLL sss IIIAAABBBIIILLLIIITTTIIIEEESSS 120 1. , 0 2 5 0 9 3 ! 4 5 9 , 45 ± 2 2 — 30,0 2 2 5 3 4 6,16 6 4 2 9,65 8 9 0 9,92 79 8 6,499 69 17,2 14 9 9 4 5,0 V 24 2,,8 2 6 5 7 4,88 4 7 1 5,95 5 0 0 16,4 1 5 6 6 4 T CAPITAL ACCOUNTS t Capital paid tn 932 I 35 240 43 81 52 72 142 31 26 40 52 118 Surplus 928 i 35 239 42 81 52 72 142 31 26 3& 52 118 Other capital accounts 335 15 85 19 26 27 16 50 12 7 13 17 48 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 122,398 5,537 30,587 6,268 9,847 10,059 6,659 17,628 5,098 2 ,926 4,978 6,071 16,740 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 81,557 4,036 20,279 4,714 6,980 7,367 4,530 12,650 3,467 1,634 2,884 3,120 9,896 Collateral for F.R. notes: Gold certificate account 11 ,,596 530 3,329 668 888 981 611 1,768 449 205 418 422 1,327 Special Drawing Rights certif. acct. 302 24 124 28 20 10 18 19 59 AA UU cc .. cc SS.. ee pp GG tt oo aa vv nn ee cc rr ee nn ss mm eenntt sseeccuurriittiieess 71.710 3.575 17.050 4.150 6.210 6.505 4.000 11.400 3.070 1.510 2.600 2.740 8.900 TToottaall ccoollllaatteerraall 83,608 4,129 20,503 4*818 7,098 7,486 4,639 13,168 3,539 1,725 3,036 3,181 10,286 * 1/ After deducting $164 million participations of other Federal Reserve Banks. 2/ Includes $13 million of certain deposits of foreign-owned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by nonmember institutions in the Federal Reserve System's program of credit restraint. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis