H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and ?f«zn&e. Condition Statement of F.R. Banks H.4.1 For immediate release March 3, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Mar. 2, Feb. 23, Mar. 3, Mar. 2, and related items 1977 1977 1976 1977 Reserve Bank credit: 1/ (In millions of dollars) 12/ 3/ U.S. Government securities-- Bought outright—System account 95,124 + 71 +7,528 95,455 Held under repurchase agreements 1,806 - 586 - 342 932 Federal Agency obligations-- Bought outright 6,770 - 20 + 205 6,767 Held under repurchase agreements 112 + 12 + 17 77 Acceptances-- Bought outright 177 . 9 - 491 177 Held under repurchase agreements 285 + 94 - 195 149 Loans-- Total member bank borrowing 30 - 7 - 55 43 Includes seasonal borrowing of: 12 + 1 + 4 12 Other borrowing Float 3,355 + 664 +1,240 3,741 Other F.R. assets 2,717 + 115 - 364 2,677 Total Reserve Bank credit 110,377 + 335 +7,545 110,018 Gold Stock 11,651 - 6 + 52 11,651 Special Drawing Rights certif. acct. 1,200 -- + 700 1,200 Treasury currency outstanding 10,938 + 4 + 582 10,939 134,166 + 333 +8,878 133,808 Currency in circulation * 91,822 „ 11 +7,745 92,124 Treasury cash holdings * 500 + 25 13 500 Treasury deposits with F.R. Banks 11,588 + 627 +1,677 11,614 Foreign deposits with F.R. Banks 283 + 14 29 277 Other deposits with F.R. Banks 4/ 833 + 295 + 20 735 Other F.R. liabilities and capital 3,390 + 87 + 101 3,030 108,417 +1 ,038 +9,502 108,280 Member bank reserves: With Federal Reserve Banks 25,749 - 705 - 622 25,527 Currency and coin 8,190 + 588 + 613 | 8,190 Total reserves held 5/ 34,084 - 118 4 ! 33,862 Required reserves 33,926 + 1 + 248 1 33,926 Excess reserves 5/ 158 - 119 - 252 64 NOTE: A net of $69 million of surplus reserves were eligible to be carried forward from the week ended February 23, into the week ending March 2. On March 2, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $54,290 million, an increase of $250 million for the week. 1/ Net of $1,094 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $727 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $2 20 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 4/ Includes $15 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 $145 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 March 2, Feb. 23, March 3, A S S E TS 1977 1977 1976 Gold certificate account 11,651 — + 52 Special Drawing Rights certif. acct. * 1,200 — + 700 Coin 377 5 - 22 Loans 43 - 34 - 274 Acceptances--Bought outright 177 2 - 468 Held under repurchase agreements 149 - 174 - 333 Federal Agency obligations—Bought outright 6,767 - 23 + 160 Held under repurchase agreements 77 - 166 - 23 U.S. Government securities: Bought outright—Bills 39,376 408 +2,055 Certificates Notes 48,920 +4,415 Bonds 7,159 +1,305 Total bought outright 1/2/ 95,455 + 408 +7,775 Held under repurchase agreements 932 -3,392 -1,397 Total U.S. Government securities 96,387 -2,984 +6,378 Total loans and securities 103,600 -3,383 +5,440 Cash items in process of collection (2,065) 9,893 - 808 +1,367 Bank premises 370 + 1 + 42 Other assets 3/ 2,307 - 38 - 518 TOTAL ASSETS (2,065) 129,398 -4,233 +7,061 L I A B I L I T I ES Federal Reserve notes 82,063 + 2 +6,984 Deposits: Member bank-reserves account 25,527 -3,109 -2,588 U.S. Treasury-general account 11,614 - 164 +1,794 Foreign 277 + 55 + 44 Other _ty 735 + 184 + 45 Total deposits 38 153 -3,034 705 Deferred availability cash items (2,065) 6 ,152 - 793 746 Other liabilities and accrued dividends _JL,0 19 - 69 40 TOTAL LIABILITIES (2,065) 127,387 -3,894 +6,985 C A P I T AL A C C O U N TS Capital paid in 989 + 50 Surplus 983 + 54 Other capital accounts 39 - 339 - 28 Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $727 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. II Includes $220 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 4/ Includes $15 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, MARCH 2, 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 37 "157" 5,132 —iw 16 days to 90 days 6 106 20,996 +l',076 + 39 171 91 days to 1 year 53 24,640 -1,155 + 85 1,139 Over 1 year to 5 years 30,401 + 99 + 4 3,358 Over 5 years to 10 years 9,841 - 48 1,217 Over 10 years 5,377 ^ + 19 760 Total 43 326 96,387 -2,984 6,844 -189 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 MARCH 2, 1977 New Phila- Cleve- Rich- St. Minne- Kansas San Total Boston York delnhia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS 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 377 19 30 11 48 44 42 34 26 15 45 23 40 Loans 43 13 2 4 2 — — 4 3 4 8 1 2 Acceptances: Bought outright 177 — 177 — -- -- ~- •"" "** .. -- -~ -•* Held under repurchase agreements 149 -- 149 -- -™ ""*• —~ "*" •*™ - *• •*•" -*" "" Federal Agency obligations — Bought outright 6,767 313 1,592 375 558 543 362 1,084 276 155 268 321 920 Held under repurchase agreements 77 "• 77 — -- -•• ""* "*™ —~ —™ ~~ ~~ "•* U.S. Government securities: Bought outright— Bills 39,376 1,819 9,262 2,185 3,246 3,161 2,109 6,306 1,605 900 1,559 1,870 5,354 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 Bond 8 7,159 331 l f 684 397 590 575 384 1,146 292 164 283 340 973 Total bought outright 1/2/ 95,455 4,411 22,452 5,296 7,870 7,662 5,113 15,286 3,892 2 ,182 3,778 4,534 12,979 HHeelldd uunnddeerr rreeppuurrcchhaassee aaggrreeeemmeennttss 932 -- 932 «.. -- — -- -- -- -- -- -- -„ TToottaall UU..SS.. GGoovveerrnnmmeenntt sseeccuurriittiieess 96,387 4,411 23,384 5,296 7.870 7,662 5.113 15.286 3,892 2 .182 3.778 4,534 12,979 Total loans and securities 103,600 4,737 25,381 5,675 8,430 8,205 5,475 16,374 4,171 2 ,341 4,054 4,856 13,901 Cash items in process of collection 11,958 345 2,056 273 640 1,881 1,042 1,422 497 522 981 821 1,478 Bank premises 370 107 18 56 24 52 14 16 13 31 18 12 9 Other assets 3/ 2,307 68 1,121 92 103 110 99 213 56 35 56 62 292 Interdistrict settlement account -0- - 123 +1.883 - 103 + 346 - 407 - 938 - 976 + 169 + 248 + 134 - 42 - 191 TOTAL 131,463 5,755 34,192 6,716 10,633 10,986 6,395 18,977 5,448 3 ,438 5,727 6,199 16,997 1/ Excludes $727 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions, 2/ Includes $220 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 MARCH 2, 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 s 063 4,112 21,082 4,601 7,215 7,429 3,200 13,559 3,489 1,726 2,944 3,318 9,388 De M p e o m s b i e t r s : b ank reserves 25,527 540 6,429 885 1,741 1,259 1,771 3,245 778 577 1,131 1,512 5,659 U.S. Treasury--general account 11,614 690 4,077 857 910 524 584 811 733 565 670 633 560 Foreign 277 9 1/ 101 10 20 13 18 35 8 7 10 13 33 Other 2/ 735 626 1 2 21 41 7 1 3 2 17 14 Total deposits 38,153 1,239 11,233 1,753 2,673 1,817 2,414 4,098 1,520 1,152 1,813 2,175 6,266 Deferred availability cash items 8,217 287 1,131 225 489 1,560 575 877 337 479 850 552 855 Other liabilities and accured dividends 1.019 45 237 49 83 68 53 138 35 22 35 41 213 TOTAL LIABILITIES 1 129,452 5,683 33,683 6,628 10,460 10,874 6,242 18,672 5,381 3,379 5,642 6,086 16,722 CAPITAL ACCOUNTS Capital paid in 989 35 250 43 85 54 76 149 33 29 42 56 137 Surplus 983 35 251 43 84 54 75 148 33 29 41 55 135 OOtthheerr ccaappiittaall aaccccoouunnttss 39 2 8 2 4 4 2 8 1 1 2 2 3 TTOOTTAALL LLIIAABBIILLIITTIIEESS AANNDD CCAAPPIITTAALL AACCCCOOUUNNTTSS 131,463 5,755 34,192 6,716 10,633 10,986 6,395 18,977 5,448 3,438 5,727 6,199 16,997 FEDERAL RESERVE AGENTS* ACCOUNTS F.R. notes outstanding 88,185 ' 4,418 22,287 4,913 7,537 7,865 4,374 13 5 957 3,699 1,787 5,164 3,804 10,380 Collateral for F.R. notes: Gold certificate account 11,645 542 3,400 641 939 992 599 1,704 466 221 396 420 • 1,325 Special Drawing Rights certif. acct. 643 60 300 -- « -- 62 -- 50 24 42 46 59 Acceptances -- -- .- -- -- -- — — — -- — — U.S. Government securities 78,030 3,830 18,850 4,500 6,810 7,025 4,000 12,600 3,280 1,610 2,800 3,425 9,300 . Total collateral 90,318 4,432 22^550^ _!»14.L _ 7,749 8,017 4,661 14,304 3,796 1,855 3,238 3,891 10,684 y After deducting $176 million participations of other Federal Reserve Banks. 2/ Includes $15 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