H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and •rWuSs?:- Condition Statement of F.R. Banks H.4.1 For immediate release March 10, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Mar. 9,* Mar. 2, I Mar. 10, | Mar. 9,* and related items 1977 1977 1 1976 1 1977 Reserve Bank credit: 1/ (In millions of dollars) 2/3/ U.S. Government securities-- Bought outright—System account 94,193 - 931 +8,687 92,669 Held under repurchase agreements — -1,806 - 646 — Federal Agency obligations-- Bought outright 6,767 3 + 160 6,767 Held under repurchase agreements — - 112 9 -- Acceptances-- Bought outright 177 __ - 455 174 Held under repurchase agreements — - 285 - 101 — Loans-- Total member bank borrowing 20 - 10 - 28 34 Includes seasonal borrowing of: 12 -- + 4 12 Other borrowing Float 3,120 - 239 + 543 3,536 Other F.R. assets 2,652 - 65 - 580 2,681 Total Reserve Bank credit 106,929 -3,452 +7,571 105,861 Gold Stock 11,651 -- + 52 11,651 Special Drawing Rights certif. acct. 1,200 — + 700 1,200 Treasury currency outstanding 10,953 + 15 + ;523 10,957 130,733 -3,437 +8,847 129,669 Currency in circulation 92,281 + 459 +7,505 92,973 Treasury cash holdings 500 — - 10 500 Treasury deposits with F.R. Banks 8,696 -2,892 +1,469 7,082 Foreign deposits with F.R. Banks 256 - 27 - 32 249 Other deposits with F.R. Banks 4/ 703 - 130 - 37 707 Other F.R. liabilities and capital 2,998 - 392 - 63 3,071 105,434 -2,983 +8,831 104,582 Member bank reserves: With Federal Reserve Banks 25,300 - 453 + 17 25,087 Currency and coin 8,182 8 + 227 1 8,182 Total reserves held 1/ 33,626 - 462 + 247 33,413 Required reserves 33,332 - 594 + 56 j 33,332 Excess reserves 5/ 294 + 132 + 191 81 NOTE: A net of $65 million of surplus reserves were eligible to be carried forward from the week ended March 2, into the week ending March 9. On March 9, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $54,987 million, an increase of $697 million for the week. 1/ Net of $1,620 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $3,145 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $109 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 $144 million waivers of penalities for reserve deficiencies m accordance with Board policy effective November 19, 1975. * Estimated (Atlanta District). ** 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 9, March 2, March 10, A S S E TS 1977 ** 1977 1976 Gold certificate account 11,651 — + 52 Special Drawing Rights certif. acct. * 1,200 — + 700 Coin 374 3 - 20 Loans 34 9 - 2 Acceptances—Bought outright 174 3 - 449 Held under repurchase agreements — - 149 — Federal Agency obligations—Bought outright 6,767 160 Held under repurchase agreements 77 U.S. Government securities: Bought outright—Bills 36,590 -2,786 + 5,882 Certificates Notes 48,920 — + 4,522 Bonds 7,159 — + 1.305 Total bought outright 172/ 92,669 -2,786 +11,709 Held under repurchase agreements — -- 993322 -- Total U.S. Government securities 92.669 --33,,771188 +11.709 Total loans and securities 99,644 -3,956 +11,418 Cash items in process of collection (1,816) 8,934 - 959 + 843 Bank premises 372 + 2 + 42 Other assets JV 2,309 + 2 - 625 TOTAL ASSETS (1,816) 124,484 -4,914 +12,410 L I A B I L I T I ES Federal Reserve notes 82,890 + 827 + 7,089 Deposits: Member bank-reserves account 25,087 - 440 + 3,219 U.S. Treasury—general account 7,082 -4,532 + 1,782 Foreign 249 - 28 6 Other 4/ 707 - 28 - 229 Total deposits 33,125 -5,028 + 4,766 Deferred availability cash items (1,816) 5,398 - 754 + 590 Other liabilities and accrued dividends 946 - 73 - 123 TOTAL LIABILITIES (1,816) 122,359 -5,028 +12,322 CAPITAL ACCOUNTS Capital paid in 989 + 49 Surplus 983 — + 54. Other capital accounts 153 + 114 15 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (Atlanta District). 1/ Excludes $3,145 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. II Includes $109 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ 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 AMD SECURITIES, MARCH 9. 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 ' I changes Within 15 days 27 22 1,913 -3,219 122 - 77 16 days to 90 days 7 98 19,703 -1,293 239 + 68 91 days to 1 year — 54 25,434 + 794 1,071 - 68 Over 1 year to 5 years — -- 30,401 — 3,358 -- Over 5 years to 10 years — — 9,841 — 1,217 -- Over 10 years — — 5,377 — 760 — Total 34 174 92,669 -3,718 6,767 77 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 9, 1977 New Fhila- Cleve- Rich- * St. Minne- Kansas San Total [ Boston York delphla land j mond Atlanta Chicago Louis apolis Citv 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 1 374 20 30 11 47 43 41 34 26 15 45 22 40 Loans 34 3 4 4 — -_ — 4 — 2 11 1 5 Acceptances: Bought outright 174 -„ 174 — -- -- — — — -- -- -- -- Held under repurchase agreements — — — — — — — — — — — — 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 -_ _- -- -- — — -- — -- -- — — — U.S. Government securities: Bought outright-- Bills 36,590 1,690 8,606 2,030 3,017 2,937 1,960 5,860 1,491 837 1,449 1,738 4,975 Certificate3 - -- .. ._ .. — — — — — — — — -- 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/ 92,669 4,282 21,796 5,141 7,641 7,438 4,964 14,840 3,778 2 ,119 3,668 4,402 12,600 Held under repurchase agreements -- .. — — — — — — — -- — — — Total U.S. Government securities 92,669 4,282 21,796 5,141 7.641 7,438 4,964 14,840 3,778 j ,119 3,668 4,402 12,600 Total loans and securities 99,644 j 4,598 23,566 5,520 8,199 7,981 5,326 15,928 4,054 2 ,276 3,947 4,724 13,525 Cash items in process of collection j 10,750 324 1,847 235 520 1,622 900 1,210 441 445 979 778 1,449 Bank premises 372 108 18 56 25 52 14 16 13 31 18 12 9 Other assets 3/ 1 2,309 71 1,124 87 109 106 91 222 63 36 51 63 286 Interdistrict settlement account -0- 4- 219 + 977 - 334 + 76 4- 74 - 911 - 768 + 155 +_ 287 + 209 + 262 - 246 TOTAL 1 126,300 1 5,942 31,265 6,287 10,018 10,979 6,122 18,536 5,268 3 ,336 5,688 6,328 16,531 1/ Excludes $3,145 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $109 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Estimated (Atlanta District). 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 9, 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 82,890 4,144 21,255 4,662 7,291 7,503 3,233 13,692 3,536 1,744 2,976 3,341 9,513 Deposits: Member bank reserves 25,087 836 7,122 756 1,413 1,159 1,584 2,976 767 624 1,085 1,743 5,022 U.S. Treasury—general account 7,082 561 524 521 653 662 526 630 532 468 701 565 739 Foreign 249 8 1/ 74 10 20 13 18 35 8 7 10 13 33 Other 2/ 707 1 599 1 -- 26 43 5 1 1 1 15 14 Total deposits 33,125 1,406 8,319 r,288 2,086 1,860 2,171 3,646 1,308 1,100 1,797 2,336 5,808 Deferred availability cash items 7,214 270 928 190 385 1,425 503 731 315 407 790 490 780 Other liabilities and accured dividends 946 *4 227 53 74 71 56 144 37 23 36 42 139 TOTAL LIABILITIES 124,175 5,864 30,729 6,193 9,836 10,859 5,963 18,213 5,196 3,274 5,599 6,209 16,240 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 Other capital accounts 153 8 35 8 13 12 8 26 6 4 6 8 -19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 126,300 5,942 31,265 6,287 10,018 10,979 6,122 18,536 5,268 3,336 5,688 6,328 16,531 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 88,223 4,417 22,308 4,920 7,570 7,859 4,321 13,995 3,706 1,791 3,168 57799 IuT3ol Collateral for F.R. notes: Gold certificate account 11,646 542 3,400 641 939 992 599 1,704 466 222 396 420 1,325 Special Drawing Rights certif. aacccctt.. 643 60 300 62 50 24 42 46 59 Acceptances 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 90,319 4,432 22,550 5,141 7,749 8,017 4,661 14,304 3,796 1,856 3,238 3,891 .10,684 1/ After deducting $175 million participations of other Federal Reserve Banks, 2/ Includes $15 million of certain depostis of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks, * Estimated (Atlanta District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis