H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 5, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, May 4,* April 27, May 5, May 4, * and related items 1977 1977 1976 1977 Reserve Bank credit: (In millions of dollars) 1/ 2/3/ U.S. Government securities-- Bought outright—System account 97,391 +1,268 + 9,709 96,763 Held under repurchase agreements 3,153 +1,426 + 63 6,090 Federal Agency obligations- Bought outright 7,'077 + 346 + 470 7,077 Held under repurchase agreements 211 + 96 + 100 427 Acceptances— Bought outright 101 - 14 388 93 Held under repurchase agreements 777 + 473 374 924 Loans— Total member bank borrowing 214 + 115 184 123 Includes seasonal borrowing of: 18 + 3 7 19 Other borrowing Float 3,210 + 284 -!- 746 3,920 Other F.R. assets 3,260 + 86 - 1,142 3,202 Total Reserve Bank credit 115,394 -+ZT7 0HU +10,116 118,619 Gold Stock 11,636 -- + 37 11,636 Special Drawing Rights certif. acct. 1,200 -- + 700 1,200 Treasury currency outstanding 11,035 + 6 + 536 11,037 139,264 +4, 085 +11,388 142,492 Currency in circulation ** 94,195 + 87 + 7,450 94,690 Treasury cash holdings ** 500 + 53 26 500 Treasury deposits with F.R. Banks 13,462 +3, 856 + 4,552 13,699 Foreign deposits with F.R. Banks 296 + 24 + 12 259 Other deposits with F.R. Banks 4/ 592 - 42 223 544 Other F.R. liabilities and capital 3,431 + 88 + 42 3,144 112,475 +4, 064 +11,806 112,836 Member bank reserves: With Federal Reserve Banks 26,789 + 21 - 419 29,657 Currency and coin 8,881 + 535 + 944 8,881 Total reserves held 5/ 35,821 + 355 + tt 38,689 Required reserves ~" 35,534 + 434 + 679 35,534 Excess reserves 5/ 287 + 122 154 3,155 NOTE: A net of $59 million of surplus reserves were eligible to be carried forward from the week ended April 27, into the week ending May 4. On May 4, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $57,929 million, a decrease of $47 million for the week. 1/ Net of $696 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $1,479 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. J3/ Includes $303 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 47 Includes $16 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 $151 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated ( Richmond District. ). ** Estimated ( Treasury's Figures ). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.Ua> CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In nr»i 11 ion.f inf dollars) Wednesday Change since May 4,** April 27, May'5, A S S E TS 1977 1977 1976 Gold certificate account 11,636 + 37 Special Drawing Rights certif. acct. 1,200 + 700 Coin 324 3 I Loans 123 363 82 Acceptances—Bought outright 93 14 395 Held under repurchase agreements 924 440 + 698 Federal Agency obligations--Bought outright 7,077 346 + 470 Held under repurchase agreements 427 258 + 355 U.S. Government securities: Bought outright—Bills 39,897 282 + 3,121 Certificates Notes 49,632 + 4,691 Bonds 7,234 + 1,318 . Total bought outright 1/2/ 96,763 282 + 9,130 Held under repurchase agreements 6,090 +2 ,895 + 3,962 Total U.S. Government securities 102,853 +2 t 613 +13.092 Total loans and securities 111,497 +3 ,280 +14,302 Cash items in process of collection (1,930) 9,983 + 322 + 862 Bank premises 367 + 1 + 9 Other assets ^J 2,835 - 20 - 1,344 (1,930) 137,842 +3 ,580 +14,565 TOTAL ASSETS L I A B I L I T I ES Federal Reserve notes 84,476 + 388 + 6,882 Deposits: Member bank-reserves account 29,657 +1,328 45 U.S. Treasury—general account 13,699 +2,376 + 7,653 Foreign 259 7 39 Other ^y ( 1 ) 544 - 118 - 251 Total deposits ( 1 ) 44,159 +3,579 + 7,318 Deferred availability cash items (1,929) 6,063 - 121 + 282 Other liabilities and accrued dividends 1,062 + 83 34 TOTAL LIABILITIES (1,930) 135,760 +3,929 +14,448 C A P I T AL A C C O U N TS Capital paid in 994 + 3 + 48 Surplus 983 — + 54 Other capital accounts 105 - 352 + 15 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $1,479 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $303 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $16 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. ** Estimated (Richmond District). MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. MAY 4, 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 obi1gations ances Holdings Weekly Holdings Weekly {changes changes Within 15 days 114 953 13,240 +4,757 TTf +5H 16 days to 90 days 9 47 17,736 -3,360 319 + 30 Ql HAVQ tn 1 xroar 17 25,530 +1,480 1,106 + 14 Over 1 year to 5 years 30,904 - 264 3,490 +173 Over 5 years to 10 years 9,991 — 1,372 +139 Over 10 years 5,452 « 790 + 35 Total 123 1,017 102,853 +2,613 7,504 +604 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 May 4, 1977 New Phila- Cleve Rich- St. Minne- Kansas San Total Boston —.York delphia land 1* * mond Atlanta Chicago Louis ffPQllS City Dallas r™n9tffqft (In millions of dollars) A S S E TS Gold certificate account 11,636 541 3,410 631 934 982 560 1,736 469 225 393 456 1,299 Special Drawing Rights certif. acct. 1,200 60 300 71 103 109 62 190 50 24 42 46 143 Coin 324 15 21 10 46 38 32 28 24 16 43 19 32 Loans 123 19 40 8 5 1 20 9 2 6 11 2 • Acceptances: Bought outright 9933 """ 93 — -- -- -- -- -- -- -- •- •*™ Held under repurchase agreements 992244 924 -- -•* "" — — .- —— —— —— "" Federal Agency obligations-- Bought outright 77,,007777 331 1,670 378 592 564 349 1,134 300 173 284 354 948 Held under repurchase agreements 442277 427 -- ~~ —— ~- -" -- -- -- —— U.S. Government securities: Bought outright— Bills 39,897 1,864 9,417 2,129 3,340 3,179 1,970 6,391 1,693 977 1,601 1,994 5,342 Certificates -- -- -- -- -- -- — — — — — — — Notes 49,632 2,319 11,714 2,648 4,155 3,956 2,450 7,951 2,106 1 ,215 1,991 2,482 6,645 Bond 8 7,234 338 1,707 386 605 577 357 1,159 307 177 290 362 969 Total bought outright UV 96,763 4,521 22,838 5,163 8,100 7,712 4,777 15,501 4,106 2 ,369 3,882 4,838 12,956 Held under repurchase agreements 6,090 -- 6,090 — — -- -- -- -- — •• — -- Total U.S. Government securities 102,853 4,521 28,928 5,163 8,100 7,712 4,777 15,501 4,106 T ,369 3.882 4,838 12,956 Total loans and securities 111111,,449977 44,,887711 3322,,008822 55,,554499 88,,669977 88,,227777 55,,114466 1166,,664444 44,,440088 22 ,,554488 44,,117777 55,,119944 13,904 Cash items in process of collection 1111,,991133 331111 11,,888800 229988 666666 11,,552244 11,,554444 11,,555555 551100 550088 992266 668822 1,509 Bank premises 367 109 9 57 24 56 14 16 13 30 18 12 9 Other assets 37 2,835 97 1,278 112 154 156 114 296 89 52 79 98 310 Interdistrict settlement account -0- + 514 -4,232 - 186 + 331 - 65 - 795 - 147 2 + 81 + 534 +1.265 +2,702 TOTAL 139,772 6,518 34,748 6,542 10,955 11,077 6,677 20,318 5,561 3 ,484 6,212 7,772 19,908 IV Excludes.$1,,479 million of securities sold,, and scheduled to be bought back, under matched sale-purchase transactions. II Includes $303 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. * Less than $500,000. ** Estimated (Richmond 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 May 4, 1977 New Phila Cleve Rich St. Minne Kansas San 1 Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco ** (In millions o f dollars) L I A B I L I T IE S Federal Reserve notes 84 ,476 4 ,313 21,791 4,684 7,364 7,572 3,221 13 ,915 3,592 1,811 3,092 3,517 9,604 Deposits: Member bank reserves 29 ,657 704 7,306 896 1,688 1,270 1,680 4 ,360 916 680 1,213 2,075 6,869 U.S. Trea8ury--general account 13 ,699 1 ,107 3,196 553 1,151 679 572 742 618 439 997 1,563 2,082 Foreign 259 9 1/ 83 10 1^ 13 18 35 8 .7 10 13 33 Other 2/ 545 -- 446 1 1 18 44 5 * 1 1 12 16 Tot a r d e po s its ~44" ,160 1 ,426 11,031 1,460 2,860 l,9do i f 3U "5, U2 1,542 1,127 2,221 3,663 9,000 Deferred availability cash items 7 ,992 276 1,081 257 478 1,314 935 801 314 461 776 431 868 Other liabilities and secured dividends 1 ,062 42 325 50 77 73 50 146 45 25 36 45 148 TOTAL LIABILITIES T57, 690 6 ,451 34,228 6,451 10,779 10,939 6,520 2tf,0 04 5,493 3,424 6,125 7,656 19,620 CAPITAL ACCOUNTS Capital paid in 994 32 251 43 85 55 77 152 33 29 42 56 139 Surplus 983 35 251 43 84 54 75 148 33 29 41 55 135 Other capital accounts 105 • 18 5 7 29 5 14 2 2 4 5 14 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 139 ,772 6 ,518 34,748 6,542 10,955 11,077 6,677 20 318 5,561 3,484 6,212 7,772 19,908 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 1 89,599" 1 4,573 22,552 5,004 7,652 7,939 4,347 14,230 3,772 1,874 3,266 3,974 10,416 Collateral for F.R. notes: Gold certificate account 11,631 541 3,409 631 933 982 559 1,736 468 225 393 456 1,298 Special Drawing Rights certif. acct. 643 60 300 -- -- -- 62 -- 50 24 42 46 59 Acceptances -» • • -- — — -- -- -- — .- -- — -- U.S. Government securities 78,933 4,080 19,050 4,500 6,810 7,068 4,000 12,600 3,340 1,710 2,900 3,575 9,300 Total collateral 91,207 4,681 22,759 5,131 7,743 8,050 4,621 14,336 3,858 1,959 3,335 4,077 10,657 1/ After deducting $ 176 million participations of other Federal Reserve Banks **Estimated (Richmond District), 7/ Includes $16 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks * Less than $500,000. and redeposited in full with Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis