H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and f*z*&r- Condition Statement of F.R. Banks H.4.1 For immediate release Harch 24, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Mar. 23, Mar. 16, Mar. 24, Mar. 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 94,865 +2,254 +7,063 94,855 Held under repurchase agreements 1,893 +1,893 - 197 5,009 Federal Agency obligations- Bought outright 6,744 + 137 6,744 Held under repurchase agreements 34 34 - 191 159 Acceptances- Bought outright 168 6 - 388 161 Held under repurchase agreements 173 + 173 - 18 299 Loans- Total member bank borrowing 339 + 314 + 261 2,196 Includes seasonal borrowing of: 13 + 1 + 5 14 Other borrowing Float 3,010 + 197 + 969 2,762 Other F.R. assets 2,798 + 100 - 703 2,921 Total Reserve Bank credit 110,024 +4,959 +6,933 115,106 Gold Stock 11,647 4 + 48 11,636 Special Drawing Rights certif. acct. 1*200 — + 700 1,200 Treasury currency outstanding 10,96* + 7 + 527 10,979 133,839 +4,961 +8,207 138,921 Currency in circulation * 93,onv 6 +7,910 93,210 Treasury cash holdings * 500 4 - 14 500 Treasury deposits with F.R. Banks 9,800 +3,997 + 828 10,764 Foreign deposits with F.R. Banks 251 - 50 - 16 261 Other deposits with F.R. Banks 4/ 649 - 27 - 173 525 Other F.R. liabilities and capital 3.273 + 142 - 70 3,346 107,551 +4,053 +8,465 108,606 Member bank reserves: With Federal Reserve Banks 26,287 908 - 260 30,315 Currency and coin 7,498 993 + 629 7,498 Total reserves held 5/ 33,930 - 85 + 368 37,958 Required reserves 33,843 + 1 + 392 33,843 Excess reserves 5/ 87 - 86 - 24 NOTE: A net of $127 million of surplus reserves were eligible to be carried forward from the week ended March 16, into the week ending March 23. On March 23, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $56,190 million, an increase of $268 million for the week. 1/ Net of $1,077 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $1,257 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 securities pledged with Federal Reserve Banks. 4/ Includes $15 million of certain deposits of foreign-owned banking insti tutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. 5/ Adjusted to include $145 million waivers of penalties for reserve de ficiencies 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,Ha". CONSOLIDATED STATEMENT OF CONDITION' OF ALL FEDERAL RESERVE BANKS ( U\ [nil 1 ions ofd ollars) Wednesday Change -since Mar. 23, Mar. .16, Mar. 24, A S S E TS 1977 1977 1976 Cold ertificate account 11,636 15 + •37 Special Drawing Right's' certif. acct. * 1,200 — + 700 Coin 370 2. - 7 Loans 2,196 + 2,166 + 1 ,872 Acceptances—Bought outright 161 10 - 369 Held under repurchase agreements 299 + 299 + 214 Federal Agency obligations—Bought outright 6,744 -- + 137 Held(under repurchase agreements 159 + 159 - 72 U.S. Government securities: Bought outright—Bills 38,478 + 4,198 + 976 Certificates Notes 49,181 + 261 + 4,497 Bonds 7,196 + 37 + 1,318 XdJial,JiQttghr outright 1/2/ 94,855 -*- 4,496 + 6,791 Held under repurchase agreements 5,009 + 5,009 + 3,991 total U.S. Goverament securities 99,864 + 9,505 +10,782 Total loans and securities 109,423 +12,119 +12,564 Cash items in process of collection (1,746) 8,147 - 2,301 + 619 Bank premises 374 + 1 + 42 Other assets 3_7 2,547 + 117 734 (1,746) 133,697 -I- 9,919 +13,221 TOTAL ASSETS L I A B I L I 1 I. E S> Federal Reserve notes 83,101 184 + 7,339 Deposits: Member bank-reserves account 30,315 + 4,854 + 3,655 U.S. Treasury—genera! account 10,764 + 6.490 + .1,926 261 + 18 10 Foreign Other 4/ ( 1) 525 256 2 30 Total deposits ( 1) 41,865 +11,106 + 5,341 0 ,745) 5,385 - 1,158 + 525 Deferred availability cash items 996 - 55 Other liabilities and accrued dividends CI,746) 131,347 + 9,807 +13 7150 TOTAL LIABILITIES C A P I TA I A C C 0 U N T S Capital paid in 991 + 1 + 49 surplus 983 -- + 54 Other capital accounts 376 + 111 - 32 * Figures-in parentheses are the eliminations made in the consolidating process. 1/ Efxclud^'s SI.,257 million of securities sold, and scheduled to be bought back, unde^v matched sale-purchase transactions, 2/ Includes $123 Trillion 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 ReseJrv^e "ffanks. MATURITY DISTRIBUTION. OF LOANS AND SECURITIES, MARCH 23, 1977 .^Acceptances and securities held under repurchase agreements are classified as Ft '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 .WitHiri;,,15 .'days'..' 2,192 320 9,177 +6,612 200 +187 16* days to 9i3"days 4 93 19,562 +2,730 268 - 28 91 days_ r to 1 year -- 47 25,248 95 1,178 + 9 Oye..r VVear, to J years -- -- 30,575 + 174 3,291 - 9 Over 5 years' to 10 years — -- 9,888 + 47 1,206 — Over 10 years -- •• 55,,441144 .. 776600 — Total 2.196 446600~~ 9999,,886644AA ++99,,550055 66,,990033 +159 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 23, 1977 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis Citv Dallas Francisc< (In millions of dollars) A S S E TS Gold certificate account 11,636 542 3,389 641 939 992 599 1,704 466 222 397 420 1,325 Special Drawing Rights certif. acct. 1,200 60 300 71 103 109 62 190 50 24 42 46 143 Coin 370 20 28 11 47 42 39 33 27 14 46 22 Al Loans 2,196 161 1,263 133 20 53 9 42 40 83 31 20 341 Acceptances: Bought outright 161 161 Held under repurchase agreements 299 299 Federal Agency obligations — Bought outright 6,744 312 1,586 374 556 541 361 1,080 275 154 267 321 •91? Held under repurchase agreements 159 159 U.S. Government securities: Bought outright-- Bills 38,478 1,778 9,051 2,135 3,173 3,088 2*061 6^161 1,569 880 1,523 1,827 5,232 Certificates Notes 49,181 2,273 11,568 2,729 4,055 3,947 2,634 7,876 2,005 1 ,124 1,947 2,336 6,687 Bonds 7,196 333 1,692 399 593 578 386 1,152 293 165 285 342 978 TToottaall bboouugghhtt oouuttrrii^^iitt \\IIUU 94,855 4,384 22,311 5,263 7,821 7,613 5,081 15,189 3,867 2 ,169 3,755 4,505 12,897 HHeelldd uunnddeerr rreeppuurrcchhaassee aaggrreeeemmeennttss 5,009 5,009 TToottaall UU..SS.. GGoovveerrnnmmeenntt sseeccuurriittiieess 99,864 4,384 27,320 5,263 7,821 7,613 5,081 15,189 3,867 2 ,169 3,755 4,505 12,897 Total loans and securities 109,423 4,857 30,788 5,770 8,397 8,207 5,451 16,311 4,182 2 ,406 4,053 4,846 14,155 Cash items in process of collection 9,893 245 1,303 298 519 1,621 909 1,322 427 445 875 615 v 1,314 Bank premises 374 108 18 56 25 54 14 16 13 31 18 12 9 Other assets 3/ 2,547 74 1,197 90 117 131 126 253 64 65 60 71 299 Interdistrict settlement account -0- + 495 -3,968 - 342 + 213 + 47 - 730 + 789 + 421 + 360 + 490 + 742 +1,483 TOTAL I 135,443 6,401 33,055 6,595 10,360 11,203 6,470 20,618 5,650 3 ,567 5,981 6,774 18,769 1/ Excludes $1,257 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 MARCH 23, 1977 New Phila Cleve Rich [" St. [Minne- Kansas San Total Boston York delphia land mond Atlanta Chicago | Louis lapolis City Dallas Francisco (In millions c f dollars) L I A B I L I T I ES Federal Reserve notes 83,101 4,196 21,498 4,647 7,267 7,456 3,233 13,676 3,515 1,763 2,987 3,399 9,464 Deposits: 30,315 1,098 7,217 910 1,634 1,429 1,838 4,007 972 711 1,263 1,994 7,242 Member bank reserves 10,764 730 2,027 644 789 655 611 1,699 730 595 837 741 706 U.S. Treasury—general account 261 8 1/ 86 10 20 13 18 35 8 7 10 13 33 Foreign 2/ 526 418 2 1 22 40 6 1 1 2 16 17 Other TToottaall ddeeppoossiittss 41,866 1,836 9,748 1,566 2,444 2,119 2,507 5,747 1,711 1,314 2,112 2,764 7,998 DDeeffeerrrreedd aavvaaiillaabbiilliittyy ccaasshh iitteemmss 7,130 238 931 224 375 1,422 495 693 307 401 749 441 854 Other liabilities and accured dividends 996 44 287 51 73 71 64 142 36 23 35 41 129 TOTAL LIABILITIES 133,093 6,314 32,464 6,488 10,15* 11,068 6,299 20,258 5,569 3,501 5,883 6,645 18,445 CAPITAL ACCOUNTS Capital paid in 991 35 250 43 85 55 76 150 33 29 42 56 137 Surplus 983 35 251 43 84 54 75 148 33 29 41 55 135 Other capital accounts 376 1 17 90 21 32 26 20 . 62 15 8 15 18 52 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 135,443 6,401 33,055 6,595 10,360 11,2P3 6,47(9- 20,618 5,650 3,567 5,981 6,774 18,769 1 rt • iV • i FEDERAL RESERVE AGENTS' ACCOUNTS F.R, notes outstanding 88,589 4,453 22,318 4,941 7,562 7,884 4,387 14,011 3,747 1,819 3,208 3,876 10,383 Collateral for F.R. notes: Gold certificate account 11,634 542 3,388 641 939 992 599 !>704 466 222 3*6 420 1,325 Special Drawing Rights certif. acct. 643 60 300 62 50 24 42 46 59 Acceptances U.S. Government securities 78.130 3,930 18.850 4,500 6.810 7.025 4.000 12.600 3,280 1.610 _ 2.800 3.425 9,300 Total collateral 90,407 4,532 22,538 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 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