H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and .f^ttfS?: Condition Statement of F.R. Banks H.4.1 For learnediate release February 24,1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Feb. 23, Feb. 16, Feb. 25, Feb. 23, * and related items 1977 1977 1976 1977 Reserve Bank credit: 1/ (In millions of dollars) 2/ 3/ U.S. Government securities-- Bought outright—System account 95,053 + 414 +7,791 95,047 Held under repurchase agreements 2,392 +1,962 - 523 4,324 Federal Agency obligations— Bought outright 6,790 + 479 6,790 Held under repurchase agreements 100 + 84 - 22 243 Acceptances— Bought outright 186 4 - 507 179 Held under repurchase agreements 191 + 144 - 151 323 Loans— Total member bank borrowing 37 - 92 - Ill 77 Includes seasonal borrowing of: 11 2 + 1 12 Other borrowing Float 2,718 + 277 - 216 4,032 Other F.R. assets 2,601 - 554 - 358 2,703 Total Reserve Bank credit 110,067 +2,229 +6 ,381 113,718 Gold Stock 11,657 1 + 58 11,651 Special Drawing Rights certif. acct. 1,200 + 700 1,200 Treasury currency outstanding 10,934 + 665 10,935 133,859 +2,232 +7,805 137,504 Currency in circulation ** 91,873 95 +7,812 92,421 Treasury cash holdings ** 475 - 46 475 Treasury deposits with F.R. Banks 10,961 +1,659 + 178 11,778 Foreign deposits with F.R. Banks 269 - 45 9 222 Other deposits with F.R. Banks 4/ 538 8 - 154 551 Other F.R. liabilities and capital 3,303 + 128 - 44 3,438 107,419 +1,638 +7,737 108,885 Member bank reserves: With Federal Reserve Banks 26,440 594 68 28,619 Currency and coin 7,602 970 457 7,602 Total reserves held j>/ 34,188 - 379 + 532 36,367 Required reserves 33,925 - 468 + 152 33,925 Excess reserves 5/ 263 + 89 + 380 2,442 NOTE: A net of $53 million of surplus reserves were eligible to be carried forward from the week ended February 16, into the week ending February 23. On February 23, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $54,040 million, a decrease of $707 million for the week. 1/ Net of $1,370 million, daily average, matched sale-purchase transactions out standing during the statement week. 2/ Excludes $1,388 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $128 million securities loaned—fully secured by U.S. Government securi ties pledged with Federal Reserve Banks. 4/ Includes $18 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 $146 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Boston, Richmond and Atlanta Districts). ** Estimated (Treasuryfs 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 February 23, [Feb. 16, Feb. 25, A S S E TS 1977 ** 1977 1976 Gold certificate account 11,651 7 + 52 Special Drawing Rights certif. acct. * 1,200 — + 700 Coin 376 12 - 29 Loans 77 660 - 611 Acceptances—Bought outright 179 7 - 506 Held under repurchase agreements 323 4 - 188 Federal Agency obligations—Bought outright 6,790 — + 480 Held under repurchase agreements 243 132 + 9 U.S. Government securities: Bought outright--Bills 38,968 + 736 +2,088 Certificates Notes 48,920 + 601 +4,415 Bonds 7,159 + 86 +1,305 Total bought outright \JV 95,047 +1 423 +7,808 Held under repurchase agreements 4,324 +1 315 -1,447 Total U.S. Government securities 99,371 +2 ,738 +6,361 Total loans and securities 106,983 +2 ,199 Cash items in process of collection (1,858) 10,583 +1 ,193 Bank premises 369 Other assets V 2,334 + 182 TOTAL ASSETS (1,858) 133,496 +3 ,555 LIABILITIES Federal Reserve notes 82,337 + 345 +7,545 Deposits: Member bank-reserves account 28,619 +1,552 -1,197 U.S. Treasury--general account 11,778 + 924 + 942 Foreign 222 - 73 - 39 Other 4/ ( 2 ) 551 + 33 - 424 Total deposits ( 2 ) 41,170 +2,436 - 718 Deferred availability cash items (1,856) 6,551 + 569 +1,547 Other liabilities and accrued dividends 1,088 + 89 77 TOTAL LIABILITIES (1,858) 131,146 +3,439 +8,297 C A P I T AL A C C O U N T S, Capital paid In 989 + 3 + 50 Surplus 983 — + 54 Other capital accounts 378 + 113 - 24 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (Boston Richmond and Atlanta Districts). 1/ Excludes $1,388 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $128 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $18 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. FEBRUARY 23, 1977 (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 72 343 8,136 +2 ,915 487 + 255 16 days to 90 days 5 110 19,920 - 864 132 - 122 91 days to 1 year 49 25,795 + 106 1,054 -- Over 1 year to 5 years 30,302 + 349 3,354 + 15 Over 5 years to 10 years 9,841 + 151 1,265 - 16 Over 10 years 5,377 + 81 741 -- Digitized for FRASER http://fraser.stlouisfed.org/ Total 77 502 99,371 +2,738 7,033 + 132 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 23, 1977 New Phila Cleve- * Rich- St. Minne- Kansas San Total Boston Yorfc delphia JLand_ mond Atlanta Chicago Louis apolis Citv Dallas Francisco (In millions of dollars) A S S. ETS Gold certificate account 11,651 542 3,403 641 939 992 599 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 376 20 30 11 48 45 37 33 26 15 46 23 42 Loans 77 1 52 4 1 5 3 1 7 1 2 Acceptances: Bought outright 179 179 Held under repurchase agreements 323 323 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 243 243 U.S. Government securities: Bought outright— Bills 38,968 1,800 9,166 2,163 3,213 3,128 2,087 6,240 1,588 891 1,543 1,851 5,298 Certificates Notes 48,920 2,261 11,506 2,714 4,034 3,926 2,620 7,834 1,995 1,118 1,936 2,324 6,652 Bonds 7,159 331 1,684 397 590 575 384 1,146 292 164 283 340 973 Total bought outright 1/2/ 95,047 4,392 22,356 5,274 7,837 7,629 5,091 15,220 3,875 2,173 3,762 4,515 12,923 Held under repurchase agreements 4,324 4,324 Total U.S. Government securities 99,371 4,392 26,680 5,274 7,837 7,629 5,091 15,220 3.875 2,173 3,762 4,515 12,923 Total loans and securities 106,983 4,707 29,074 5,655 8,397 8,175 5,455 16,312 4,155 2,329 4,038 4,838 13,848 Cash items in process of collection 12,441 393 2,302 293 625 1,446 1,054 1,479 511 563 1,259 874 1,642 Bank premises 369 107 17 56 25 51 14 16 13 31 18 12 9 Other assets 3/ 2,334 63 1,138 73 102 102 85 182 51 32 47 102 357 Interdistrict settlement account -0- + 217 -1,871 + 93 778 4- 66 - 954 - 938 4-34 + 358 + 89 + 270 +1,858 TOTAL 6,109 34,393 6,893 11,017 10,986 6,352 18,978 5,306 3,574 5,936 6,586 19,224 * Estimated (Boston, Richmond, and Atlanta Districts). 1/ Excludes $1,388 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $128 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 FEBRUARY 23, 1977 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 82,337 4,108 21,094 4,607 7,203 7,395 3,267 13,544 3,473 1,719 2,926 3,324 9,677 Deposits: Member bank reserves 28,619 907 7,348 950 2,136 1,438 1,776 2,989 704 742 1,206 1,756 6,667 U.S. Treasury—general account 11,778 623 3,222 914 851 695 500 1,033 637 577 685 703 1,338 Foreign 222 8 47 10 20 13 18 35 8 7 10 N 13 33 Other 553 1 461 1 1 13 41 5 1 15 14 Total deposits 41,172 1,539 11,078 1,875 3,008 2,159 2,335 4,062 1,349 1,326 1,902 2,487 8,052 Deferred availability cash items 8,407 331 1,333 254 531 1,225 523 872 367 440 974 604 953 Other liabilities and accured dividends 1,088 44 295 51 74 71 58 142 36 22 36 42 217 TOTAL LIABILITIES 133,004 6,022 33,800 6,787 10,816 10,850 6,183 18,620 5,225 3,507 5,838 6,457 18,899 CAPITAL ACCOUNTS Capital paid in 989 35 250 43 85 54 75 149 33 30 42 56 137 Surplus 983 35 251 43 84 54 75 148 33 29 41 55 135 Other capital accounts 378 17 92 20 32 28 19 61 15 8 15 18 53 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 135,354 6,109 34,393 6,893 11,017 10,986 6,352 18,978 5,306 3,574 5,936 6,586 19,224 FEDERAL RESERVE AGENTS1 ACCOUNTS F.R. notes outstanding 4,399 22,244 4,908 7,534 7,884 4,417 13,960 3,702 1*782 3,169 3,815 10,407 Collateral for F.R. notes: Gold certificate account 542 3,400 641 939 992 599 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 7,025 4,000 12,600 3,280 1,610 2,800 3,425 9,300 Total collateral 4,432 22,550 5,141 7,749 8,017 4,661 14,304 3,796 1,856 3,238 3,891 10,684 Estimated (Boston, Richmond and Atlanta Districts), 1/ After deducting $175 million participations of other Federal Reserve Banks. 2/ Includes $18 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. 9 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis