H.4.1 Factors Affecting Reserve Balances of Depository Institutions

O?GOVA' • FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release March 25, 1976 Member bank reserves, Week ended Change fror n week ended Wednesday Reserve Bank credit, Mar. 24, Mar. 17, Mar. 26, Mar. 24, and related items 1976 * 1976 1975 1976 * Reserve Bank credit: 1/ (In millions of dollars) 1/ U.S. Government securities-- Bought outright—System account 87,802 +1,093 + 6,929 88,064 Held under repurchase agreements 2,090 +2,090 + 1,252 1,018 Federal Agency obligations-- Bought outright 6,607 + 1,626 6,607 Held under repurchase agreements 225 + 225 + 50 231 Acceptances— Bought outright 556 56 100 530 Held under repurchase agreements 191 + 191 + 32 85 Loans-- Total member bank borrowing 77 + 36 78 323 Includes seasonal borrowing of: 8 -- + 1 8 Other borrowing Float 2,069 - 390 + 384 2,507 Other F.R. assets 3.501 + 154 + 304 3.613 Total Reserve Bank credit 103,118 +3,342 +10,399 102,978 Gold Stock 11,599 — 21 11,599 Special Drawing Rights certif. acct. 500 -- + 100 500 Treasury currency outstanding 10.442 + 6 + 1.056 10.446 125,659 +3,348 +11,535 125,523 Currency in circulation 85,181 79 + 7,414 85,331 Treasury cash holdings 500 —— + 206 500 Treasury deposits with F.R. Banks 8,972 +2,936 + 5,548 8,838 Foreign deposits with F.R. Banks 267 + 5 109 271 Other deposits with F.R. Banks 3/ 822 - 128 21 755 Other F.R. liabilities and capital 3.343 + 126 + 255 3.330 99,086 +2,861 +13,294 99,025 Member bank reserves: With Federal Reserve Banks 26,574 + 488 - 1,759 26,498 Currency and coin 6.877 664 + 391 6.877 Total reserves held 4/ 33,591 - 177 - 1,228 33,515 Required reserves 33,436 80 - 1,239 33,436 Excess reserves 4/ 155 97 11 79 NOTE: A net of $6 million of surplus reserves were eligible to be carried forward from the week ended March 17, into the week ending March 24. On March 24, 1976, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $43,291 million a decrease of $120 million for the week. 1/ Net of $44 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Includes $147 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes $10 million of certain deposits of foreign-owned banking institutions . . voluntarily held with member banks and redeposited in full with Federal Reserve Banks. 4/ Adjusted to include $140 million waivers of penalties for reserves deficiencies in accordance with Regulation D change effective November 19 1975. * Estimated (Dallas District). Digitized for FRASER ** Estimated (Treasury's figures). 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 March 24, March 17, March 26, A S S E TS 1976 ** 1976 1975 Gold certificate account 11,599 mm mm - 21 Special Drawing Rights certif. acct. * 500 — — + 100 Cash (1,726) 377 8 + 26 Loans 323 + 250 - 491 Acceptances--Bought outright 530 - 55 - 135 Held under repurchase agreements 85 + 85 - 278 Federal Agency obligations—Bought outright 6,607 —— +1,626 Held under repurchase agreements 231 + 231 - 232 U.S. Government securities: Bought outright—Bills 37,502 +2,241 +1,450 Certificates - - —— mmmm Notes 44,684 - - +3,400 Bonds 5,878 +2,204 Total bought outright i/ 88,064 +2,241 +7,054 Held under repurchase agreements 1,018 +1,018 606 Total U.S. Government securities 89,082 +3,259 - 838 Total loans and securities 96,858 +3,770 +6,938 Cash items in process of collection (1,686) 7,367 -2,421 + 666 Bank premises 332 + 1 + 56 Operating Equipment 16 — + 14 Other assets 27 3,265 + 242 + 404 TOTAL ASSETS (3,412) 120,314 +1,584 +8,183 L I A B I L I T I ES Federal Reserve notes (1,726) 75 ,762 - 145 +6 ,461 Deposits: Member bank-reserves account 26 ,498 +3 ,600 -3 ,939 U.S. Treasury--general account 8 ,838 - 693 +5 ,284 Foreign 271 + 37 - 157 Other 3/ 755 - zil - 37 Total deposits 36 ,362 +2 ,717 +1 ,151 Deferred availability cash items (1,686) 4 ,860 -L ,098 + 321 Other liabilities and accrued dividends 1 ,051 - 6 - 5 TOTAL LIABILITIES (3,412) 118 ,035 +1;, 468 +7 ,928 C A P I T AL A C C O U N TS Capital paid in 942 + 1 + 40 Surplus 929 —— + 32 Other capital accounts 408 + 115 + 183 Contingent liability on acceptances purchased, for foreign correspondents — -- - 46 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (Dallas District). 1/ Includes $147 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 3/ Includes $10 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. MARCH 24. 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 changes changes Within 15 days 321 168 6,927 +2,898 272 +231 16 days to 90 days 2 301 15,944 + 179 277 91 days to 1 year 146 23,342 + 182 917 Over 1 year to 5 years 30,811 — 3,309 Over 5 years to 10 years 7,620 -- 1,415 Over 10 years 4 *438 - - 648 Digitized for FRASER Total 323 615 89,082 +3,259 6,838 +231 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 24, 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) 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 1,726 68 399 54 102 137 308 65 33 26 42 132 360 Other cash 377 24 31 8 53 40 42 33 29 14 46 14 43 Loans 323 30 251 6 —— —— 3 2 1 1 13 1 15 Acceptances: Bought outright 530 — 530 — -- -- Held under repurchase agreements 85 — 85 — -- Federal Agency obligations-- Bought outright 6,607 307 1,586 388 522 534 345 995 252 114444 227700 333388 992266 Held under repurchase agreements 231 231 — — -- U.S. Government securities: Bought outright— Bills 37,502 1,744 8,999 2,203 2,963 3,030 1,958 5,648 1,429 820 11,,553333 11,,991177 55,,225588 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 V 88,064 4,094 21,133 5,172 6,958 7,116 4,598 13,265 3,355 1,924 3,599 4,502 12,348 Held under repurchase agreements 1,018 1,018 Total U.S. Government securities 89,082 4,094 22,151 5,172 6,958 7,116 4,598 13,265 3,355 1,924 3,599 4,502 12,348 Total loans and securities 96,858 4,431 24,834 5,566 7,480 7,650 4,946 14,262 3,608 2,069 3,882 4,841 13,289 Cash items in process of collection 9,053 340 1,110 229 513 1,446 901 1,177 393 432 797 642 1,073 Bank premises 332 94 21 54 25 26 14 16 13 32 17 12 8 Operating Equipment 16 — 2 3 3 -- 1 — 2 1 -- 2 2 Other assets 2/ 3,265 79 1,799 104 144 141 168 260 64 44 72 92 298 Interdistrict settlement account -0- + 47 - 87 - 448 + 140 + 2 - 509 +1,040 + 409 + 404 - 351 - 145 - 502 TOTAL 123,726 5,637 31,563 6,269 9,391 10,468 6,510 18,700 5,020 3,238 4,942 6,031 15,957 * Estimated (Dallas District). V Includes $147 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 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 MARCH 24, 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 77,488 3,854 19,716 4,494 6,681 7,034 3,747 12,270 3,326 1,607 2,707 2,976 9,076 Deposits: Member bank reserves 26,498 1,009 5,988 987 1,491 1,281 1,799 3,925 858 722 1,183 1,718 5,537 U.S. Treasury--general account 8,838 334 3,406 420 524 728 230 1,231 447 400 222 699 197 Foreign 271 9 1/ 96 11 20 13 18 36 8 7 10 13 30 Other 2/ 755 1 595 2 1 19 37 3 1 1 2 65 28 Total deposits 36,362 1,353 10,085 1,420 2,036 2,041 2,Q84: "5,195 1,314 1,130 1,417 2,495 5,792 Deferred availability cash items 6,546 295 930> 187 402 1,181 423 749 267 416 633 387 626 Other liabilities and accured dividends 1.051 48 250 58 75 75 91 142 36 23 40 48 165 TOTAL LIABILITIES 121,447 5,550 30,981 6,159 9,194 10,331 6,345 18,356 4,943 3,176 4,847 5,906 15,659 CAPITAL ACCOUNTS 1 Capital paid in 942 35 242 43 82 53 73 143 32 27 40 53 119 Surplus 929 35 239 42 81 52 72 142 31 26 39 52 118 Other capital accounts 408 17 101 25 34 32 20 59 14 9 16 20 61 TOTAL LIABILITIES AND 123,726 5,637 31,563 6,269 9,391 10,468 6,510 18,700 5,020 3,238 4,942 6,031 15,957 CAPITAL ACCOUNTS FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 81,271 4,001 20,565 4,625 6,931 7,249 4,484 12,499 3,513 1,649 2,848 3,158 9,749 Collateral for F.R. notes: Gold certificate account 11,597 530 3,329 668 888 981 611 1,768 449 206 418 422 1,327 Special Drawing Rights certif. acct. 302 24 124 -- -- — 28 -- 20 10 18 19 59 Acceptances -- -- -- —— —— —— —- — — — «• mm mm * w U.S. Government securities 71.975 3.575 17.250 4.150 6.210 6.505 4.000 11.400 3.120 1.510 2.600 2.755 8.900 Total collateral 83.874 -3,129 20,703 4,818 7,098 7,486 4,639 13,168 3,589 1,726 3,036 3,196 10,286 1/ After deducting $175 million participations of other Federal Reserve Banks. 2/ Includes $10 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. * Estimated (Dallas District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis