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 HAY 20, 1976 Averages of daily figures Member bank reserves, Week.ended Change from week ended Wednesday Reserve Bank credit, May 19, May 12, May 21, May 19, and related items 1976 1976 197* Reserve Bank credit: i/ (In millions of 2/ 2/ U.S. Government securities- Bought outright—System account 87,170 + 678 +2,838 87,207 Held under repurchase agreements 1,262 + 663 -1,382 3,080 Federal Agency obligations- Bought outright 6,607 +1,445 6,607 Held under repurchase agreements 80 + 60 - 311 150 Acceptances- Bought outright 474 - 18 - 272 461 Held under repurchase agreements 190 + 107 - 23 420 Loans- Total member bank borrowing 121 + 65 542 Includes seasonal borrowing of: 10 + 1 11 Other borrowing Float 2,373 - 30 + 153 2,912 Other F.R. assets 4.015 - 346 +1 ,986 3.542 Total Reserve Bank credit 102,291 +1 ,177 +3 ,833 104,921 Gold Stock 11,599 - 21 11,599 Special Drawing Rights certif. acct. 500 •• + 100 500 Treasury currency outstanding 10,541 + 6 +1 .079 10.548 124,931 +1 ,183 +4 ,992 127,568 Currency in circulation * 87,516 + 71 +8 ,313 87,604 Treasury cash holdings * 500 + 176 500 Treasury deposits with F.R. Banks 6,473 + 46 -1 ,474 7,861 Foreign deposits with F.R. Banks 300 • 27 + 42 230 Other deposits with F.R. Banks 4/ 568 • 64 • 129 518 Other F.R. liabilities and capital 9,2)4 + 98 - 44 9,336 98,591 + 124 +6 ,884 100,049 Member bank reserves: With Federal Reserve Banks 26,340 +1 ,060 -1 ,893 27,518 Currency and coin 7.638 - 65? ±1 *169 7.638 Total reserves held £/ 34*130 + 402 - 572 35,308 Required reserves 33,895 + 141 • 736 33,895 Excess reserves J»/ 235 + 261 + 164 1,413 A net of $10 million of surplus reserves were eligible to be carried forward from the week ended May 12, into the week ending May 19. On May 19, 1976, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $46,349 million, an increase of $626 million for the week. 1/ Net of $480 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $620 million of securitea sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $175 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks, y Includes $12 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. 1/ Adjusted to include $152 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, * 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 OP ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since May 19, May 12, May 21, A S S E TS 1976 1Q76 1Q75 Gold certificate account 11,599 —•» - 21 Special Drawing Rights certif. acct. * 500 - - + 100 Cash (1,496) 343 + 4 - 17 Loans 542 + 284 - 186 Acceptances—Bought outright 461 - 20 - 275 Held under repurchase agreements 420 + 183 + 146 Federal Agency obligations—Bought outright 6,607 -— +1,445 Held under repurchase agreements 150 + 65 - 512 U.S. Government securities: Bought outright—Bills 36,350 - 322 -1,542 Certificates —— -- Notes 44,856 - 85 +2,818 Bonds 6.001 + 85 +1.588 Total bought outright 1/2/ 87,207 . - 322 +2,864 Held under repurchase agreements 3.080 + 977 -2.218 Total U.S. Government securities 90.287 + 655 + 646 Total loans and securities 98,467 +1,167 +1,264 Cash items in process of collection (1,787) 8,865 + 533 +1,554 Bank premises 340 + 1 + 59 Operating Equipment 19 + 1 + 17 Other assets 3/ 3.183 - 84? + 794 TOTAL ASSETS*" (3,283) 123.316 + 861 +3,750 L I A B I L I T I ES Federal Reserve notes (1,496) 77,900 - 227 +7,270 Deposits: Member bank-reserves account 27,518 -1 ,483 -4,941 U.S. Treasury—general account 7,861 +2,066 + 844 Foreign 230 - 102 - 23 Other 4/ 518 - 70 - 176 Total deposits 36,127 + 411 -4,296 Deferred availability cash items (1,787) 5,953 + 548 + 782 Other liabilities and accrued dividends 1.138 + 14 - 67 TOTAL LIABILITIES (3,283) 121,118 + 746 +3,689 C A P I T AL A C C O U N TS Capital paid in 952 + 5 + 44 Surplus 929 + 32 Other capital accounts 317 + 110 - 15 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Excludes $620 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $175 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ 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. HAY 19. 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 Within 15 days "355™ " OT 7,064 * 257" 16 days to 90 days 3 193 17,392 +2,621 208 - 62 91 days to 1 year 188 25i686 + 989 962 Over 1 year to 5 years 27,496 -3,074 3,255 Over 5 years to 10 years 8,088 + 417 1,422 Digitized for FRASERO ver 10 years 4.561 + 85 653 http://fraser.stlouisfed.orTgn/f -fll 542 ftfti on 9R7 4. fiss f% 7S7 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 19, 1976 New Phila- Cleve- Rich- St. Minne- Kansas San Total Boston York delphia land 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 1,496 39 347 52 84 119 312 48 43 24 43 112 273 Other cash 343 22 24 4 49 36 44 27 28 13 44 16 36 Loans 542 25 301 8 18 45 3 1 59 11 9 62 Acceptances: Bought outright 461 -- 461 — — — —' — — — — — — * — — — — — — «* — Held under repurchase agreements 420 — 420 — — — — — — — — — — — — -- — — — — mm mm 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 150 150 — — —— — — — —— — — — — — «— — — •B — U.S. Government securities: Bought outright— Bills 36,350 1,680 8,550 2,017 2,997 2,917 1,947 5,821 1,482 831 1,439 1,727 4,942 Certificates -- —— — — — — — — — •» «• mm — W «• — «• Notes 44,856 2,073 10,551 2,489 3,698 3,600 2,403 7,183 1,829 1,026 1,775 2,130 6,099 Bonds 6,001 277 1,411 333 495 482 321 961 245 137 238 285 816 Total bought outright .1/2/ 87,207 4,030 20,512 4,839 7,190 6,999 4,671 13,965 3,556 1,994 3,452 4,142 11,857 Held under repurchase agreements 3,080 — 3.080 —— -- — — — — — — —— — — __ * — mm • Total U.S. Government securities 90.287 4,030 23.592 4.839 7.190 6,999 4,671 13,965 3,556 1,994 3,452 4,142 11.857 Total loans and securities 98,467 4,360 26,478 5,214 7,735 7,547 5,070 15,026 3,826 2,204 3,725 4,465 12,817 Cash items in process of collection 10,652 402 - 1,477 252 579 1,565 929 1,372 471 434 900 710 1,561 Bank premises 340 97 21 56 25 29 14 16 13 32 16 12 9 Operating Equipment 19 -- 2 3 3 * 1 — — 5 1 — — 2 2 Other assets 3/ 3,183 84 1,612 123 155 132 155 280 67 50 75 94 356 Interdistrict settlement account -0- + 301 -2.539 + 328 + 311 + 187 - 470 - 247 + 32 + 223 - 122 + 469 +1,527 TOTAL 126.599 5.871 30.897 6.704 9.923 10,652 6,492 18,305 4.971 3,213 5.096 6-320 17.965 * Less than $500,000. V Excludes $620 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $175 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 MAY 19, 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 79,396 3,941 20,187 4,599 6,814 7,165 3,770 12,615 3,417 1,676 2,815 3,125 9,272 Deposits: Member bank reserves 27,518 1,049 6,056 910 1,844 1,352 1,618 3,749 742 550 1,118 1,818 6,712 U.S. Treasury—general account 7,861 412 2,198 813 518 628 476 536 367 498 306 714 395 Foreign 230 8 1/ 66 10 19 13 17 34 7 6 9 13 28 Other 2/ 518 •» • 426 3 1 12 39 5 2 1 2 9 18 Total deposits 36,127 1,469 8,746 1,736 2,382 2,005 2,150 4,324 1,118 1,055 1,435 2,554 7,153 Deferred availability cash items 7,740 330 1,083 211 458 1,259 540 876 321 397 716 476 1,073 Other liabilities and accured dividends 1.138 48 315 56 80 94 61 154 40 25 39 45 181 TOTAL LIABILITIES 124,401 5,788 30,331 6,602 9,734 10,523 6,521 17,969 4,896 3,153 5,005 6,200 17,679 CAPITAL ACCOUNTS Capital paid in 952 35 245 43 82 53 73 144 32 27 40 53 125 Surplus 929 35 239 42 81 52 72 142 31 26 39 52 118 Other capital accounts 317 13 82 17 26 24 16 50 12 7 12 15 43 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 126,599 5,871 30,897 6,704 9,923 10,652 6,682 18,305 4,971 3,213 55,,009966 6,320 1177,,996655 FEDERAL RESERVE AGENTS' ACCOUNTS F C . o R l . l a n t o e t r e a s l f o o u r t s F t . a R n . d i n n o g t es: 82,788 4,063 20,971 4,825 6,993 7,393 4,407 12,786 3,591 1,735 2,917 3,292 9,815 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, 24 124 — -- -- 28 -- 20 10 18 19 59 Acceptances -- -- -- —— — — • U.S. Government securities 3.575 17.650 4.250 6.210 6.505 4.000 11.400 3.150 1.610 2.600 2.885 8.900 Total collateral 84,633 4,141 21,124 4,891 7,149 7,497 4,627 13,104 3,636 1,842 3,014 3,324 10,284 1/ After deducting $164 million participations of other Federal Reserve Banks, 2/ Includes $12 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis