H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.'oPtcow;. FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release January 21, 1977 Averages of daily figures Member bank reserves, WWeeeekk eennddeedd Change from week ended Wednesday Reserve Bank credit, JJaann.. 1199,, Jan. 12, Jan. 21, Jan. 19, and related items 1977 J 1977 1976 1977 Reserve Bank credit: (In millions of dollars) U.S. Government securities- 1/ 2/3/ Bought outright—System account 91,241 -1,082 + 6,311 • 90,210 Held under repurchase agreements 1,684 + 970 + 1,064 1,344 Federal Agency obligations— Bought outright 6,794 — + 654 6,790 Held under repurchase agreements 62 + 39 + 47 100 Acceptances- Bought outright 200 + 3 - 536 197 Held under repurchase agreements 141 + 68 + 127 256 Loans— Total member bank borrowing 109 + 89 - 44 642 Includes seasonal borrowing of: 10 — + 2 10 Other borrowing — — — -- Float 3,479 - 629 + 1,099 4,355 Other F.R. assets 3,195 + 117 - 178 •3,314 Total Reserve Bank credit 106,905 - 426 +~8 ,544 107,208 Gold Stock 11,658 + 43 + 59 11,658 Special Drawing Rights certif. acct. 1,200 — + 700 1,200 Treasury currency outstanding 10,896 + 3 + 739 10,896 130,659 - 379 +10,042 j 130,962 Currency in circulation * 92,622 - 725 + 8,334 92,378 Treasury cash holdings * 475 .. _ 44 475 Treasury deposits with F.R. Banks 5,783 - 702 + 1,743 6,123 Foreign deposits with F.R. Banks 241 - 77 - 63 i 228 Other deposits with F.R. Banks 4/ 857 + 167 „ 65 784 Other F.R. liabilities and capital 3,212 + 155 - 7 3,260 103,190 -1,183 + 9,897 103,248 Member bank reserves: With Federal Reserve Banks 27,468 + 802 + 144 27,714 Currency and coin 9,219 + 227 +_ 486 1 9,219 Total reserves held 5/ 36,826 +1,027 + 633 37,072 RReeqquuiirreedd rreesseerrvveess ""~~ 36,941 +1,546 + 945 36,941 EExxcceessss rreesseerrvveess 55// - 115 - 519 - 312 131 NOTE: A net of $237 million of surplus reserves were eligible to be carried forward from the week ended January 12, into the week ending January 19. On January 19, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $52,020 million, an increase of $24 million for the week. 1/ Net of $195 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $3,064 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. £/ Includes $233 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 4/ Includes $21 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 $139 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19 1<>~ * 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 January 19, Jan. 12, January 21, A S S E TS 1977 1977 1976 Gold certificate account 11,658 — + 59 Special Drawing Rights certif. acct. * 1,200 — + 700 Coin 373 + 12 - 6 Loans 642 + 613 - 201 Acceptances--Bought outright * 197 -I- 1 - 539 Held under repurchase agreements 256 - 91 + 256 Federal Agency obligations--Bought outright 6,790 4 + 478 Held under repurchase agreements 100 + 13 + 100 U.S. Government securities: Bought outright—Bills 35,513 -1,443 - 412 Certificates Notes 47,972 +3,736 Bonds 6,725 +1,130 Total bought outright 1/2/ 90,210 -1,443 +4,454 Held under repurchase agreements 1,344 -1,600 +1,344 Total U.S. Government securities 91,554 -3,043 Total loans and securities 99,539 -2,511 +5,892 Cash items in process of collection (2,008) 10,201 +1,563 +2,175 Bank premises 365 + 41 Other assets J/ 2,949 + 165 - 122 TOTAL ASSETS (2,008) 126,285 - 771 +8,739 i l A B I L I T I ES Federal Reserve notes 82,330- • 865 +7,546 Deposits: Member bank-reserves account 27,714 - 186 -. 282 U.S. Treasury-general account 6,123 - 180 +1,441 Foreign 228 - 15 - 20 Other 4/ 784 + 15 - 159 Total deposits 34,849 - 366 +• 980 Deferred availability aash items (2,008) 5,846 + 359 + 207 Other liabilities and accused dividends 981 •« 17 - 78 TOTAL LIABILITIES (2,008) 124,006 - 889 +8,655 C A P I T AL ACCOUNTS. Capital paid in 984 *«.<» + 52 Surplus 983 — + 55 Other capital accounts 312 + 118 - 23 Figures in parentheses are the eliminations made in the consolidating process. y Excludes $3,064 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $233 million securities loaned--fully secured by U.S. Government 2/ securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Includes $21 million of certain deposits of foreign-osrned banking institutions 4/ voluntarily held with member banks and redeposited in full with Federal Reserve Banks. MATURITY DISTRIBUTION: QF LOANS AND SECURITIES . JANUARY 19. 1977 (Acceptances and securities held under repurchase agreements are classified as 1 maturing within 15 days in accordance with maximum maturity of the agreements.) U.S. Government Federal Agency Loans Accept securities obligation* ances Holdings Weekl Moldings Weekly chanfrjt 1 changes Within 15 days 640 289 3,323 -2, 081 148™ + 49 16 days to 90 days 2 106 17,814 - 887 285 - 40 91 days to 1 year — 58 25,713 - 75 1,031 — Over 1 year to 5 years — — 30,710 — 3,323 + 16 Over 5 years to 10 years — — 9,045 — 1,366 - 16 Over 10 years 44,,994499 -- 773377 — Total 664422 445533 9911,,555544 -3, 043 66,,889900 + 9 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 JANUARY 1 9, 1977 New Phila- Cleve- Rich St. Minne- Kansas San Total 1 Boston York delphia land | mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificates account 11,658 542 3,410 641 939 992 599 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 Coin 373 19 28 11 47 43 42 35 27 14 44 23 40 Loans 642 82 219 3 _. 42 34 105 60 8 43 41 5 Acceptances: Bought outright 197 — 197 — — — — — — — — — — Held under repurchase agreements 256 — 256 — — — -- — — — — — — Federal Agency obligations— Bought outright 6,790 314 1,597 377 560 545 364 1,087 277 155 269 322 923 Held under repurchase agreements 100 — 100 -- -- — — -- — — — — — U.S. Government securities: Bought outright— Bills 35,513 1,641 8,353 1,971 2,928 2,850 1,902 5,687 1,448 812 1,406 1,687 4,828 Certificates — — — — — — — — — — — — — Notes 47,972 2,217 11,283 2,661 3,955 3,850 2,570 7,682 1,956 1, 097 1,899 2,279 6,523 Bonds 6,725 311 1.582 373 555 540 360 1.077 274 154 266 319 914 Total bought outright 1/2/ 90,210 4,169 21,218 5,005 7,438 7,240 4,832 14,446 3,678 2 ,063 3,571 4,285 12,265 Held under repurchase agreements 1,344 — 1.344 — — — — — — — — — — Total U.S. Government securities 91.554 4.169 22.562 5.005 7.438 7.240 4.832 14.446 3,678 ~2 ,063 3.571 4,285 12,265 Total loans and securities 99,539 4,565 24,931 5,385 7,998 7,827 5,230 15,638 4,015 2 ,226 3,883 4,648 13,193 Cash items in process of collection 12,209 481 1,932 337 672 1,795 1,056 1,509 546 550 943 865 1,523 Bank premises 365 106 17 56 25 49 14 16 13 31 17 12 9 Other assets 3/ 2,949 97 1,327 141 148 143 138 286 75 46 72 91 385 Interdistrict settlement account -0- + 366 - 895 - 267 + 312 - 21 - 585 + 21 + 7 +. 118 + 212 + 372 + 360 TOTAL 128,293 6,236 31,050 6,375 10,244 10,937 6,556 19,399 5,199 3 ,231 5,610 6,478 16,978 V Excludes $3,064 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 27 Includes $233 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 37 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 JANUARY 19, 1977 New Phila Cleve Rich i 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 E S. Federal Reserve notes 82,330 4,116 21,074 4,639 7,223 7,391 3,411 13,639 3,485 1,711 2,911 3,372 9,358 Deposits: Member bank reserves 27,714 1,188 6,995 837 1,756 1,187 1,803 3,595 870 718 1,227 2,032 5,506 U.S. Treasury—general account 6,123 455 380 483 484 656 530 811 348 242 540 376 818 Foreign 228 •9 1/ 52 10 20 13 18 35 8 7 10 13 33 Other 2/ 784 680 11 1 18 37 4 1 4 18 10 Total deposits 34,849 1,652 8,107 1,341 2,261 1,874 2,388 4,445 1,226 968 1,781 2,439 6,367 Deferred availability cash items 7,854 333 1,038 240 493 1,470 519 826 375 458 791 502 809 Other liabilities and accured dividends 981 51 251 52 72 69 73 141 35 31 34 41 131 TOTAL LIABILITIES 126,014 6,152 30,470 6,272 10,049 10,804 6,391 19,051 5,121 3,168 5,517 6,354 16,665 CAPITAL ACCOUNTS Capital paid in 984 35 250 43 85 54 75 148 33 29 41 55 136 Surplus 983 35 251 43 84 54 75 148 33 29 41 55 135 Other capital accounts 312 14 79 17 26 25 15 52 12 5 11 14 42 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 128,293 6,236 31,050 6,375 10,244 10,937 6,556 19,399 5,199 3,231 5,610 6,478 16,978 FEDERAL RESERVE AGENTS% ACCOUNTS F.R. notes outstanding 4,407 22,27$ TT^W T737S 77959 57*35- 14,139 37752 I75U5 372U7 3\Ubb lU,4/3 Collateral for F.R. notes: Gold certificate account 542 3,410 641 939 992 599 1,704 466 222 396 420 1,325 Special Drawing Rights certif. acct. 60 300 62 50 24 42 46 59 Acceptances U.S. Government securities 3»830 18,850 4.500 6,810 7,025 4,000 12,600 3.350 1.610 2.800 3,425 9,300 Total collateral Ml2 *1>56?, 5'141« , v49 8>017 4i661 *4i,m ^m i m hm i ££L m.fWi 1/ After deducting $176 million participations of other Federal Reserve Banks. "2/ Includes $21 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