H.4.1 Factors Affecting Reserve Balances of Depository Institutions

. C of gq^a' FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release November 18, 1976 Averages of daily figures MMMeeemmmbbbeeerrr bbbaaannnkkk rrreeessseeerrrvvveeesss,,, WWeeeekk eennddeedd Change from week ended WWeeddnneessddaayy RRReeessseeerrrvvveee BBBaaannnkkk cccrrreeedddiiittt,,, NNoovv.. 1177,, Nov. 10, Nov. 19, NNoovv.. 1177,, aaannnddd rrreeelllaaattteeeddd iiittteeemmmsss 11997766 1976 1975 11997766 Reserve Bank credit: v (In millions of cL o liars) 1/ 3/ U.S. Government securities-- Bought outright—System account 91,505 +1,088 +8,112 92,560 Held under repurchase agreements 724 + 338 + 108 Federal Agency obligations-- Bought outright 6,757 -- + 685 6,757 Held under repurchase agreements 21 + 16 14 -- Acceptances— Bought outright 199 -- 530 119966 Held under repurchase agreements 81 + 46 + 14 Loans-- Total member bank borrowing 54 + 3 4 59 Includes seasonal borrowing of 21 3 5 21 Other borrowing -- -- -- — Float 3,431 + 410 + 564 4,508 Other F.R. assets 3,504 - 347 + 30 3,110 Total Reserve Bank credit 106,276 +1,552 + 8,965 107,190 Gold Stock 11,598 — - 1 11,598 Special Drawing Rights certif. acct. 1,200 -- + 700 1,200 Treasury currency outstanding 10,824 + 10 + 775 10,824 129,898 +1,562 +10,439 130,812 Currency in circulation * 92,014 + 659 + 7,993 92,267 Treasury cash holdings * 525 -- + 115 525 Treasury deposits with F.R. Banks 6,005 - 763 + 2,684 6,758 Foreign deposits with F.R. Banks 287 + 50 28 307 Other deposits with F.R. Banks 4/ 910 + 33 + 344 848 Other F»R. liabilities and capital 3,262 + 172 + 60 3,249 103,002 + 151 +11,167 103,954 Member bank reserves: With Federal Reserve Banks 26,896 +1,411 - 728 26,858 Currency and coin 8,241 - 225 + 1.124 8.241 Total reserves held 5/ 35,295 +1,186 + 554 35,257 Required reserves 34,829 + 795 + 262 34,829 Excess reserves 5/ 466 + 391 + 292 428 NOTE: A net of $38 million of surplus reserves were eligible to be carried forward from the week ended November 10, into the week ending November 17. ^ On November 17, 1976, marketable U.S. Government securities held in i custody by the Federal Reserve Banks for foreign and international accounts were $48,322 million, an increase of $889 million for the week. 1/ Net of $1,259 million, daily average, matched sale-purchase transactions * outstanding during the statement week. 2/ Excludes $275 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. ^ 3/ Includes $100 million securities loaned--fully secured by U.S. Government ( securities pledged with Federal Reserve Banks. 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. 5/ Adjusted to include $158 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Treasury's figures). w 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 November 17, Nov. 10, Nov. 19, A S S E TS 1976 1976 1975 Gold certificate account 11,598 mmmm - 1 Special Drawing Rights certif. acct. * 1,200 — — + 700 Cash (1,247) 367 + 6 8 Loans 59 78 - 32 Acceptances--Bought outright 196 2 - 528 Held under repurchase agreements - - - 248 - 213 Federal Agency obligations--Bought outright 6,757 •» — + 685 Held under repurchase agreements -- - 34 - 108 U.S. Government securities: Bought outright--Bills 39,157 +2,489 +3,716 Certificates • — mm Notes 46,897 «• — +3,355 Bonds 6,506 +1,189 Total bought outright 1/2/ 92,560 +2,489 +8,260 Held under repurchase agreements — -2,702 -1,487 Total U.S. Government securities 92,560 - 213 +6,773 Total loans and securities 99,572 - 575 +6,577 Cash items in process of collection (2,144) 10,642 +2,908 +1,852 Bank premises 361 + 1 + 45 Operating Equipment 26 * + 15 Other assets 3/ 2,723 - 734 - 32 TOTAL ASSETS (3,391) 126,489 +1,606 +9,148 L I A B I L I T I ES Federal Reserve notes (1,247) 82,335 + 186 +7 ,364 Deposits: Member bank-reserves account 26,858 - 177 -1 ,498 U.S. Treasury--general account 6,758 + 286 +2 ,583 Foreign 307 + 108 + 63 Other 4/ 848 - 85 + 282 Total deposits 34,771 + 132 +1 ,430 Deferred availability cash items (2,144) 6,134 +1 ,196 + 430 Other liabilities and accrued dividends 1,017 - 21 - 168 TOTAL LIABILITIES (3,391) 124,257 +1 ,493 +9 ,056 C A P I T AL AC C O U N TS Capital paid in 973 mm mm + 53 Surplus 929 mmmm + 32 Other capital accounts 330 + 113 + 7 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $275 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $100 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. NOVEMBER 17. 1976 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) . S. Government Federal Agency Loans Accept- securities obligations ances Holdings Weekly Holdings Weekly changes changes Within 15 days 52 34 4,289 -2,502 182 +147 16 days to 90 days 7 102 18,971 +3,904 232 -182 91 days to 1 year 60 25,868 - 507 1,002 + 1 Over 1 year to 5 years 29,862 + 369 3,234 mm mm Over 5 years to 10 years 8,814 -1,167 1,406 —— Over 10 years 4,756 - 310 701 «» * Digitized for FRASE T R o tal 59 196 92,560 - 213 6,757 - 34 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 17, 1976 New Phila- Cleve- Rich- St. Minne- Kansas 1 San Total Boston York delphia land mond Atlanta Chicago Louis apolis Citv Dallas!F rancisco (In millions of dollars) A S S E TS Gold certificate account 11,598 542 3,350 641 939 992 599 1,704 466 222 397 421 1,325 Special Drawing Rights certif. acct. 1,200 60 300 71 103 109 62 190 50 24 42 46 143 F.R. notes of other banks 1,247 33 324 54 41 110 223 44 34 15 47 114 208 Other cash 367 17 28 8 48 42 43 31 27 13 44 23 43 Loans 59 3 3 1 — 2 5 2 12 13 14 4 — Acceptances: Bought outright 196 — 196 — — — -- — — — Held under repurchase agreements Federal Agency obligations-- Bought outright 6,757 312 1,589 375 557 542 362 1,082 276 155 267 321 919 Held under repurchase agreements — — — — U.S. Government securities: " Bought outright- Bills 39,157 1,809 9,211 2,173 3,229 3,143 2,097 6,270 1,597 895 1,550 1,859 5,324 Certificates «• — - - — — —— — - —- -- -- Notes 46,897 2,167 11,030 2,602 3,867 3,764 2,512 7,510 1,912 1,072 1,856 2,228 6,377 Bonds 6.506 301 1,530 361 536 522 349 1,042 265 149 258 309 884 Total bought outright 1/2/ 92,560 4,277 21,771 5,136 7,632 7,429 4,958 14,822 3,774 2,116 3,664 4,396 12,585 Held under repurchase agreements • — — • * ~ •» *• —— —— —— — — — Total U.S. Government securities 92,560 4,277 21,771 5,136 7,632 7,429 4.958 14,822 3,774 2,116 3,664 4,396 12,585 Total loans and securities 99,572 4,592 23,559 5,512 8,189 7,973 5,325 15,906 4,062 2,284 3,945 4,721 13,504 Cash items in process of collection 12,786 477 2,015 384 653 1,882 1,042 1,881 559 541 1,132 807 1,413 Bank premises 361 105 21 56 24 43 14 16 13 31 17 12 9 Operating Equipment 26 * 6 3 3 — — 1 -- 4 1 — 4 4 Other assets 3/ 2,723 78 1,354 144 133 117 116 229 56 40 59 112 285 Interdistrict settlement account —0— — 80 +1,599 - 389 14 - 198 - 946 - 535 + 248 + 193 - 51 + 287 - 114 TOTAL 129.880 5.824 32.556 6.484 10.119 11.070 6.479 19,466 5,519 3,364 5,632 6,547 16,820 * Less than $500,000. 1/ Excludes $275 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $100 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 NOVEMBER 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 83,582 4,094 21,323 4,821 7,260 7,505 3,667 13,730 3,529 1,683 2,990 3,455 9,525 Deposits: Member bank reserves 26,858 718 7,584 650 1,516 1,328 1,553 3,563 860 562 1,123 1,911 5,490 U.S. Treasury—general account 6,758 472 597 614 530 499 443 720 649 555 579 446 654 Foreign 307 9 1/ 132 11 20 13 18 36 8 7 10 13 30 Other 2/ 848 1 751 4 1 13 44 5 1 1 1 12 14 Total deposits 34,771 1,200 9,064 1,279 2,067 1,853 2,058 4,324 1,518 1,125 1,713 2,382 6,188 Deferred availability cash items 8,278 399 1,366 230 519 1,505 529 921 358 469 799 542 641 Other liabilities and accured dividends 1,017 49 239 54 80 77 59 155 39 24 38 45 158 TOTAL LIABILITIES 127,648 5,742 31,992 6,384 9,926 10,940 6,313 19,130 5,444 3,301 5,540 6,424 16,512 CAPITAL ACCOUNTS Ii Capital paid in 973 35 248 43 84 54 75 146 31 28 40 56 133 Surplus 929 35 239 42 81 52 72 142 32 26 39 51 118 Other capital accounts 330 12 77 15 28 24 19 48 12 9 13 16 57 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 129,880 5,824 32,556 6,484 10,119 11,070 6,479 19,466 5,519 3,364 5,632 6,547 16,820 FEDERAL RESERVE AGENTS1 ACCOUNTS F.R. notes outstanding 86,852 4,218 21,925 5,032 7,447 7,733 4,247 13,925 3,677 1,730 3,115 3,650 10,153 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. 643 60 300 62 50 24 42 46 59 Acceptances U.S. Government securities 76,495 3,680 18,550 4,500 6,560 6,825 4,000 12,400 3,250 1,610 2,800 3,220 9,100 Total collateral 88,734 4,282 22,200 5,141 7,499 7,817 4,661 14,104 3,766 1,856 3,238 3,686 10,484 V After deducting $175 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