H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release March 18, 1976 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, March 17, March 10, March 19, March 17, and related items 1976 1976 1975 1976 Reserve Bank credit: i/ (In millions of dollars) 2/3/ U.S. Government securities-- Bought outright--System account 86,709 +1 ,203 + 8,860 85,823 Held under repurchase agreements — - 646 — Special Certificates •o - 515 Federal Agency obligations — Bought outright 6,607 + 1,626 6,607 Held under repurchase agreements —— - 9' Acceptances- . Bought outright 612 - 20 47 585 Held under repurchase agreements -- - 101 Loans- Total member bank borrowing 41 - 6 - 126 73 Includes seasonal borrowing of: 8 —— + 2 8 Other borrowing •— —— •» •» Float 2,451 - 152 + 458 3,830 Other F.R. assets 3.347 + 115 + 130 3.370 Total Reserve Bank credit 99,768 + 385 +10,387 100,288 Gold Stock 11,599 - 21 11,599 Special Drawing Rights certif. acct. 500 + 100 500 Treasury currency outstanding 10.436 + 6 + 1.092 10.440 122,303 + 392 +11,557 122,827 Currency in circulation * 85,260 + 473 + 7,386 85,462 Treasury cash holdings * 500 + 228 500 Treasury deposits with F.R. Banks 6,036 -1 ,191 + 5,650 9,531 Foreign deposits with F.R. Banks 262 - 26 - 70 234 Other deposits with F.R. Banks 4/ 950 + 210 - 44 982 Other F.R. liabilities and capital 3.217 + 156 + 211 3.220 96,225 - 378 +13,362 99,929 Member bank reserves: With Federal Reserve Banks 26,078 + 770 1,805 22,898 Currency and coin 7.541 - 407 + 914 7.541 Total reserves held 5/ 33,760 + 364 - 750 30,580 Required reserves 33,516 + 235 - 974 33,516 Excess reserves 5/ 244 + 129 + 224 - 2,936 NOTE: A net of $9 million of surplus reserves were eligible to be carried forward from the week ended March 10, into the week ending March 17. On March 17, 1976, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $43,411 million, a decrease of $761 million for the week. 1/ Net of $259 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $1,810 million of securities sold, and scheduled to bought back, under matched sale-purchase transactions. 3/ Includes $139 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 4/ Includes $10 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. 5/ Adjusted to include $141 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 Wednesday Change since March 17, March 10, March 19, ! 1976 1976 1975 , Gold certificate account 11,, 599 — — - 21 Special Drawing Rights certif. acct. * 500 — 4- 100 Cash (1,720) 385 - 9 4- 36 Loans 73 4- 38 - 781 Acceptances--Bought outright 585 - 38 - 70 Held under repurchase agreements -- -- Federal Agency ob1igations--Bought outright 6,, 607 — +1 ,j6 26 Held under repurchase agreements -- — -- U.S. Government securities: Bought outright—Bills 35,, 261 +4,553 4- 317 Certificates -- - - — Notes 44 ; , 684 4- 286 - +4, 189 Bonds 5 ,878 + 24 +2,, 343 Total bought outright 1/2/ 85,, 823 +4 ,863 +6 ,j8 49 Held under repurchase agreements — -- — Total U.S. Government securities 85 +4 ,863 4"6 1, 849 Total loans and securities 93,, 088 +4 ,863 +7,, 624 Cash items in process of collection (2,141) 9: ,788 +1 ,932 ,944 Bank premises 331 + 1 4- 57 Operating Equipment 16 4- 14 Other assets 3/ ,023 + 105 4- 138 TOTAL ASSETS (3,861) 118 ,730 4-6, 892 +9;, 892 L I A B I L I T I ES Federal Reserve notes (1,720) 75 ,907 4- 106 +6,, 629 Deposits: Member bank-reserves account 22 ,898 +1 ,266 "5;, 498 U.S. Treasury--general account 9 ,531 +4 ,231 +7 ;, 736 Foreign 234 - 21 - 87 Other 4/ 982 4- 46 + 112 Total deposits 33 ,645 +5 ,522 +2,, 263 Deferred availability cash items (2,141) 5 ,958 4-1, 150 4* 751 Other liabilities and accrued dividends 1 ,057 - 12 4- 9 TOTAL LIABILITIES (3,861) 116 ,567 4-6, 766 +9 :, 652 C A P I T AL A C C O U N TS Capital paid in 941 4- 1 4- 39 Surplus 929 -- 4- 32 Other capital accounts 293 4- 125 4- 169 Contingent liability on acceptances purchased, for foreign correspondents 68 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $1,810 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $139 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $10 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 DISTRIBUTIONS OF LOANS AND SECURITIES. MARCH 17, 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 LLooaannss Accept- securities obligations ances Holdings Weekly Holdings Weekly changes changes Within 15 days 73 118 4,029 4-1,555 41 4- 41 16 days to 90 days —— 322 15,765 4-2,872 277 4- 69 91 days to 1 year — — 145 23,160 4- 164 917 -110 Over 1 year to 5 years —— -- 30,811 4- 185 3,309 - - Over 5 years to 10 years -- -- 7,620 4- 63 1,415 —— Digitized for FRASER Over 10 years —— —— 4,438 4- 24 648 —— http://fraser.stlouisfed.org/ T otal 73 585 85,823 4-4,863 6,607 - - Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 17, 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 1,720 69 395 46 102 131 348 57 29 25 39 125 354 Other cash 385 24 30 8 53 42 45 33 28 14 47 16 45 Loans 73 ** 8 4 1 1 42 9 1 7 Acceptances: Bought outright 585 — 585 -- -- — — — -- -— —— — Held under repurchase agreements -- -- -— — — -- —— —— — — — — — Federal Agency obligations-- Bought outright 6,607 307 1,586 388 522 534 345 995 252 144 270 338 926 Held under repurchase agreements — — — — — -- -- -- — — — — U.S. Government securities: Bought outright- Bills 35,261 1,640 8,462 2,071 2,786 2,849 1,841 5,311 1,343 770 1,442 1,802 4,944 Certificates - - -- -- — — — - —- —— — —— — — -»«— -- Notes 44,684 2,077 10,723 2,624 3,531 3,611 2,333 6,731 1,702 976 1,826 2,284 6,266 Bonds 5.878 273 1,411 345 464 475 307 886 224 128 240 301 824 Total bought outright 1/2/ 85,823 3,990 20,596 5,040 6,781 6,935 4,481 12,928 3,269 1,874 3,508 4,387 12,034 Held under repurchase agreements —— — — — — — — — w — — •» «w mm — • Total U.S. Government securities 85.823 3,990 20.596 5,040 6.781 6.935 4.481 12,928 3,269 1,874 3,508 4,387 12,034 Total loans and securities 93,088 4,297 22,767 5,436 7,303 7.469 4,830 13,924 3,522 2,060 3,787 4,726 12,967 Cash items in process of collection 11,929 462 1,836 481 640 1,836 1,180 1,518 557 490 952 740 1,237 Bank premises 331 94 21 54 25 26 * 14 16 13 32 16 12 8 Operating Equipment 16 2 3 3 —— 1 —- 2 1 —— 2 2 Other assets 3/ 3,023 66 1,759 91 113 111 141 223 58 39 58 75 289 Interdistrict settlement account -0- - 23 - 377 - 264 + 144 + 200 - 450 +1,224 + 363 + 375 - 318 - 255 - 619 TOTAL 122.591 5.543 29.887 6.554 9.314 10.841 6.748 18.842 5.041 3.252 5,P18 9,892 15,*69 1/ Excludes $1,810 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $139 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. ,3/ 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 MARCH 17, 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 Federal Reserve notes 77,627 3,857 19,6.78 4,501 6,690 7,060 3,824 12,280 3,334 1,602 2,712 2,973 9,116 Deposits: Member bank reserves 22,898 739 4,700 1,078 1,260 1,164 1,699 3,693 752 662 1,024 1,464 4,663 U.S. Treasury—general account 9,531 504 2,524 430 611 858 408 1,452 475 451 365 762 691 Foreign 234 9 1/ 59 11 20 13 18 36 8 7 10 13 30 Other 982 1 831 3 1 23 37 4 1 2 2 60 17 Total deposits 33,645 1,253 8,114 1,522 1,892 2,058 2,162 5,185 1,236 1,122 1,401 2,299 5,401 Deferred availability cash items 8,099 303 1,304 370 469 1,507 506 907 362 445 775 442 709 Other liabilities and accured dividends 1.057 48 239 58 76 88 96 143 36 24 40 48 161 TOTAL LIABILITIES 120,428 5,461 29,335 6,451 9,127 10,713 6,588 18,515 4,968 3,193 4,928 5,762 15,387 CAPITAL ACCOUNTS CCaappiittaall ppaaiidd iinn 941 35 242 43 82 53 73 143 32 27 39 53 119 SSuurrpplluuss 929 35 239 42 81 52 72 142 31 26 39 52 118 OOtthheerr ccaappiittaall aaccccoouunnttss 293 12 71 18 24 23 15 42 10 6 12 15 45 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 122,591 5,543 29,887 6,554 9,314 10,841 6,748 18,842 5,041 3,252 5,018 5,882 15,669 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 81,118 3,979 20,532 4,617 6,923 7,260 4,465 12,469 3,493 1,657 2,848 3,118 9,757 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 Acceptances U.S. Government securities 71.910 3.575 17.250 4.150 6.210 6.505 4.000 11.400 3.070 1.510 2.600 2.740 8.900 Total collateral 83,808 4,129 20,703 4,818 7,098 7,486 4,639 13,168 3,539 1,725 3,036 3,181 10,286 1J After deducting $175 million participations of other Federal Reserve Banks. 2/ Includes $10 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