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 May 13, 1976 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, May 12, May 5, 1 May 14, May 12, and related items 1976 1976 1 1975 1976 Reserve Bank credit: 1/ (In millions of dollars) 22// U.S. Government securities-- Bought outright—System account 86,492 -1,190 +2,205 87,529 Held under repurchase agreements 599 -2,491 -1,030 2,103 Federal Agency obligations-- Bought outright 6,607 —— +1,445 6,607 Held under repurchase agreements 20 - 91 - 260 85 Acceptances-- Bought outright 492 + 3 - 227 481 Held under repurchase agreements 83 - 320 - 173 237 Loans-- Total member bank borrowing 56 + 26 + 39 258 Includes seasonal borrowing of: 9 2 + 1 11 Other borrowing —— —— —— Float 2,369 - 101 + 619 2,927 Other F.R. assets 4.361 41 +1.014 4.385 Total Reserve Bank credit 101,080 -4,204 +3,634 104,612 Gold Stock 11,599 — 21 11,599 Special Drawing Rights certif. acct. 500 —— + 100 500 Treasury currency outstanding 10.535 + 7 +1.079 10.540 123,714 -4,197 +4,792 127,251 Currency in circulation * 87,445 + 646 +8,350 87,828 Treasury cash holdings * 500 —— + 177 500 Treasury deposits with F.R. Banks 6,427 -2,483 -1,992 5,795 Foreign deposits with F.R. Banks 327 + 43 + 50 332 Other deposits with F.R. Banks 3/ 632 - 183 + 160 588 Other F.R. liabilities and capital 3.136 - 253 + 11 3.207 98,467 -2,230 +6,757 98,250 Member bank reserves: With Federal Reserve Banks 25,246 -1,968 -1,966 29,001 Currency and coin 8.297 + 359 + 992 8.297 Total reserves held 4/ 33,694 -1,609 - 823 37,449 Required reserves 33,754 -1,063 764 33,754 Excess reserves 4/ 60 546 59 3,695 NOTE: A net of $212 million of surplus reserves were eligible to be carried forward from the week ended May 5, into the week ending May 12. On May 12, 1976, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $45,723 million, an increase of $99 million for the week. 1/ Net of $973 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Includes $72 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3./ Includes $12 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 $151 million waivers of penalties for reserve deficiencies in accordance with Board policy 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 May 12, May 5, May 14, A S S E TS 1976 1976 1975 . Gold certificate account 11,599 mmmm - 21 ' Special Drawing Rights certif. acct, * 500 — — + 100 Cash (1,365) 339 + 14 - 21 Loans ' 258 + 217 + 238 Acceptances--Bought outright 481 - 7 - 247 Held under repurchase agreements 237 + 11 + 21 Federal Agency obligations—Bought outright 6,607 —— +1,445 Held under repurchase agreements 85 + 13 - 195 U.S. Government securities: Bought outright--Bills 36,672 - 104 -1,370 Certificates Notes 44,941 ** mm +2,403 Bonds 5,916 • • +2.003 Total bought outright 1J 87,529 104 +3,036 Held under repurchase agreements 2.103 - 25 + 682 Total U.S. Government securities 89.632 - 129 +3,718 Total loans and securities 97,300 + 105 +4,980 Cash items in process of collection (1,702) 8,332 - 777 + 401 Bank premises 339 - 1 + 58 Operating Equipment 18 -- + 16 Other assets 2/ 4.028 - 151 + 894 TOTAL ASSETS (3,067) 122,455 - 810 +6,407 L I A B I L I T I ES Federal Reserve notes (1,365) 78,127 + 533 +7,516 Deposits: Member bank-reserves account 29,001 - 689 - 54 U.S. Treasury—general account 5,795 - 251 -1,076 Foreign 332 + 34 + 79 Other jty 588 - 207 + 106 Total deposits 35,716 -1 ,113 - 945 Deferred availability cash items (1,702) 5,405 - 376 - 184 Other liabilities and accrued dividends 1,124 + 28 - 32 TOTAL LIABILITIES (3,067) 120,372 928 +6>355 C A P I T AL A C C O U N TS Capital paid in 947 + 1 + 38 Surplus 929 —— + 32 Other capital accounts 207 + 117 18 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $72 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 3J Includes $12 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, MAY 12. 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 254 316 7,447 +562 129 + 57 16 days to 90 days 4 199 14,771 -503 270 45 91 days to 1 year 203 24,697 -188 962 Over 1 year to 5 years 30,570 3,255 Over 5 years to 10 years 7,671 1,422 Over 10 years 4.476 654 + _A Total 258 718 89,632 -129 6,692 + 13 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 12, 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 11,599 542 3,351 641 939 992 599 1,704 466 222 397 421 1,325 Special Drawing Rights certif. acct. 500 24 124 31 43 45 28 79 20 10 18 19 59 F.R. notes of other banks 1,365 35 343 42 72 98 298 39 32 22 36 106 242 Other cash 339 22 24 4 48 38 42 26 27 13 44 16 35 Loans 258 mm mm 240 8 • mm •— 2 2 1 3 2 * Acceptances: Bought outright 481 481 -- -- - - -- -- -- -- -- — Held under repurchase agreements 237 237 -- - - -- - --. -- — .. -- — Federal Agency obligations-- Bought outright 6,607 305 1,554 367 545 530 354 1,058 269 151 262 314 898 Held under repurchase agreements 85 -- 85 -- -- -- -- -- -- -- — -- -- U.S. Government securities: Bought outright— Bills 36,672 1,695 8,626 2,035 3,024 2,943 1,964 5,873 1,495 838 1,452 1,741 4,986 Certificates -- -- - - -- - - —— — -- —— —— -- —— Notes 44,941 2,077 10,570 2,494 3,705 3,607 2,407 7,197 1,832 1,028 1,779 2,135 6,110 Bonds 5.916 273 1,392 328 488 475 317 947 241 135 234 281 805 Total bought outright 1/ 87,529 4,045 20,588 4,857 7,217 7,025 4,688 14,017 3,568 2,001 3,465 4,157 11,901 Held under repurchase agreements 2,103 -- 2,103 — — — — —— mm — Total U.S. Government securities 89.632 4,045 22,691 4,857 7,217 7,025 4,688 14,017 3,568 2,001 3,465 4,157 11,901 Total loans and securities 97,300 4,350 25,288 5,232 7,762 7,555 5,042 15,077 3,839 2,153 3,730 4,473 12,799 Cash items in process of collection 10,034 262 1,503 306 499 1,513 988 1,298 435 464 946 722 1,098 Bank premises 339 97 21 56 25 28 14 16 13 32 16 12 9 Operating Equipment 18 2 3 3 -- 1 4 ' 1 • -- 2 2 Other assets 2/ 4,028 120 1,839 170 219 201 184 413 100 70 108 131 473 Interdistrict settlement account -0- + 302 -1,452 - 18 + 2 - 168 - 636 + 743 - 22 + 200 - 318 + 134 +1,233 TOTAL 125,522 5,754 31,043 6,467 9,612 10,302 6,560 19,395 4.914 3,187 4,977 6,036 17,275 * Less than $500,000. 1/ Includes $72 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 MAY 12, 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 79,492 3,945 20,168 4,605 6,814 7,189 3,803 12,614 3,427 1,675 2,812 3,127 9,313 Deposits: Member bank reserves 29,001 916 7,934 819 1,554 1,210 1,709 4,829 756 652 1,063 11,,668844 55,,887755 U.S. Treasury—general account 5,795 471 482 660 594 354 299 697 307 359 209 559 804 Foreign 332 8 1/ 168 10 19 13 17 34 7 6 9 13 28 Other 2/ 588 505 2 1 11 37 5 * 2 1 11 13 Total deposits 35,716 1,395 9,089 1,491 2,168 1,588 2,062 5,565 1,070 1,019 1,282 2,267 6,720 Deferred availability cash items 7,107 282 959 218 370 1,327 475 744 307 410 757 482 776 Other liabilities and accured dividends 1.124 54 287 58 80 77 65 154 39 25 39 4455 220011 TOTAL LIABILITIES 123,439 5,676 30,503 6,372 9,432 10,181 6,405 19,077 4,843 3,129 4,890 5,921 17,010 CAPITAL ACCOUNTS Capital paid in 947 35 245 43 82 53 73 144 32 27 40 53 112200 Surplus 929 ! I 35 239 42 81 52 72 142 31 • 26 39 • 52 118 Other capital accounts 207 8 56 10 17 16 10 32 8 5 8 10 27 TOTAL LIABILITIES AND CCAAPPIITTAALL AACCCCOOUUNNTTSS 125.522 5.754 31.043 6.467 9.612 10.302 6,560 19.395 4.914 3.187 ' 4.977 66..003366 1177..227755 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 82,614 4,079 20,943 4,790 6,999 7,375 4,423 12,766 3,595 1,715 2,919 3,249 9,761 Collateral for F.R. notes: Gold certificate account 11,596 542 3,350 641 939 992 599 1,704 466 222 396 420 1,325 Special Drawing Rights certif. acct. 302 24 124 —— —- — — 28 -- 20 10 18 19 59 Acceptances -- —— -- —— --- -- -- -- -- -- -- U.S. Government securities 73.595 3.575 xO lU o 4.250 6.210 6.505 4.000 11.400 3.150 1.610 2.600 2.845 9.800 Total collateral 85,493 4,141 21,124 4,891 7,149 7,497 4,627 13,104 3,636 1,842 3,014 3,284 11,184 1/ After deducting $164 million participations of other Federal Reserve Banks. 2J Includes $12 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis