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 12, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, May 11, * May 4, 1 May 12, May 11, * and related items 1977 1977 1 1976 1977 Reserve Bank credit: 1/ (In millions of dollars) y ii U.S. Government securities-- Bought outright--System account 97,310 81 +10,818 97,506 Held under repurchase agreements 2,646 - 507 + 2,047 3,372 Federal Agency obligations-- Bought outright 7,077 .- + 470 7,077 Held under repurchase agreements 163 - 48 + 143 83 Acceptances— Bought outright 84 17 408 75 Held under repurchase agreements 562 - 215 + 479 597 Loans-- Total member bank borrowing 155 - 59 + 100 374 Includes seasonal borrowing of: 22 + 4 + 13 24 Other borrowing Float 3,086 - 131 + 691 2,683 Other F.R. assets 3,210 50 - 1,151 3,248 Total Reserve Bank credit 114,292 -1,109 +13,187 115,015 Gold Stock 11,636 — + 37 11,636 Special Drawing Rights certif. acct. 1,200 -- + 700 1,200 Treasury currency outstanding 11,048 + 13 + 513 11,050 138,177 -1,095 +14,438 138,901 Currency in circulation 94,878 + 625 + 7,456 95,413 Treasury cash holdings 500 + 56 22 500 Treasury deposits with F.R. Banks 13,273 - 189 + 6,846 12,193 Foreign deposits with F.R. Banks 359 + 63 + 32 234 Other deposits with F.R. Banks 4/ 532 - 60 100 424 Other F.R. liabilities and capital 3,166 - 261 + 30 3,224 112,708 + 233 +14,242 111,988 Member bank reserves: With Federal Reserve Banks 25,469 -1,328 + 198 26,913 Currency and coin 8,999 + 118 + 702 8,999 Total reserves held 5/ 34,620 -1,209 + 900 36,064 Required reserves 34,646 - 888 + 893 34,646 Excess reserves 5/ 26 - 321 + 7 1,418 NOTE: A net of $135 million of surplus reserves were eligible to be carried forward ftom the week ended May 4, into the week ending May 11. On May 11, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $57,542 million, a a decrease of $387 million for the week. 1/ Net of $1,082 million, daily average, matched sale-purchase transactions outstanding during the statement week. 27 Excludes $982 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $150 million securities loaned—fully secured by U. S. v^overnment securities pledged with Federal Reserve Banks. 4/ Includes $16 million of certain deposits of foreign-owned banking institutions volun tarily held with member banks and redeposited in full with Federal Reserve Banks. 5/ Adjusted to include $152 million waivers jt penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Philadelphia, Dallas, and San Francisco Districts). ** 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 MMaayy 1111,, May 4, May 12, A S S E TS 11997777 **** 1977 1976 Gold certificate account 11,636 — + 37 Special Drawing Rights certif. acct. 1,200 — + 700 Coin 322 2 - 17 Loans 374 •4 - 251 + 116 Acceptances—Bought outright 75 18 - 406 Held under repurchase agreements 597 - 327 + 360 Federal Agency obligations—Bought outright 7,077 -. + 470 Held under repurchase agreements 83 - 344 - 2 U.S. Government securities: Bought outright—Bills 40,640 743 + 3,968 Certificates Notes 49,632 — + 4,691 Bonds 7,234 -- + 1,318 Total bought outright 1/2/ 97,506 + 743 + 9,977 Held under repurchase agreements 3,372 -2,718 + 1,269 Total U.S. Government securities 100,878 -1,975 •fir;^ Total loans and securities 109,084 -2,413 +11,784 Cash it:±ms in process of collection (1836) 8,748 -1,402 + 162 Bank premises 367 — + 28 Other assets 3./ 2,881 + 46 - 1,165 TOTAL ASSETS (1836) 134,238 -3,771 +11,529 tlAfiltHIIS Federal Reserve notes 85,185 + 690 + 7,058 Deposits: Member bank-reserves account 26,913 -2,744 - 2,342 U.S. Treasury—general account 12,193 -1,506 + 6,398 Foreign 234 25 98 Other 4./ 424 - 120 164 Total deposits 39,764 -4,395 + 3,794 Deferred availability cash items (1836) 6,065 - 169 + 660 Other liabilities and accrued dividends 1,039 23 85 TOTAL LIABILITIES (1836) 132,053 -3,897 +11,427 C A P I T AL A C C O U N TS Capital paid in 996 + 2 + 49 Surplus 983 — + 54 Other capital accounts 206 + 124 1 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (Philadelphia, Dallas and San Francisco District). jL/ Excludes $982 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $150 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. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES, Mav ll 1977 r (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 361 613 11,291 -1,949 122 -305 16 days to 90 days 13 50 17,552 - 184 280 - 39 91 days to 1 year 25,688 + 158 1,106 Over 1 year to 5 years 30,904 .- 3,490 Over 5 years to 10 years 9,991 — 1,372 Over 10 years 5.A32 -- 790 Total 374 672 100,878 •1,975 7,160 -344 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 11, 1977 New * Phila Cleve- Rich- St. Minne- Kansas * * San ** Total Boston York delphia land 1 mond Atlanta Chicago Louis apolis City Dallas Franc!sea (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 322 15 20 11 45 37 32 28 25 16 43 19 31 Loans 374 3 204 45 6 2 — 23 * 6 17 14 54 Acceptances: Bought outright 75 — 75 "~ -" ~™ **"• ~~ "" — *•"• Held under repurchase agreements 597 — 597 **~ ~~ -•" **" "•"* **~ "" Federal Agency obligations— Bought outright 7,077 331 1,670 378 592 564 349 1,134 300 173 284 354 948 Held under repurchase agreements 83 -- 83 •"•" "** •*" U.S. Government securities: Bought outright— Bills 40,640 1,899 9,593 2,168 3,402 3,238 2,007 6,510 1,725 995 1,630 2,032 5,441 Certificates — -- -- -- — — -- -- "- .- -- ~" -~ Notes 49,632 2,319 n;7i4 2,648 4,155 3,956 2,450 7,951 2,106 1,215 1,991 2,482 6,645 Bonds 7,234 338 1,707 386 605 577 357 1,159 307 177 290 362 969 Total bought outright ]7 2/ 97,506 4,556 23,014 5,202 8,162 7,771 4,814 15,620 4,138 2,387 3,911 4,876 13,055 Held under repurchase agreements 3,372 -- 3,372 «- «.- -- -- -- "~ **~ ~~ "*"" ™~ Total U.S. Government securities 100,878 4,556 26,386 5,202 87T52 7,771 ZTToTS 15,620 4,138 Z, 3o / 3,911 4,876 15,055 Total loans and securities 109,084 4,890 29,015 5,625 8,760 8,337 5,163 16,777 4,438 2~566 4,212 5,244 14,057 Cash items in process of collection 10,584 296 1,143 321 503 1,714 1,276 1,228 401 417 835 643 1,807 Bank premises 367 109 9 56 24 56 14 16 13 30 19 12 9 OOtthheerr aasssseettss 33// 2,881 104 1,268 113 167 158 122 309 93 57 79 98 313 -0- + 370 -1,408 - 50 + 167 + 298 - 911 - 589 - 222 - 38 + 371 + 828 +1,184 IInntteerrddiissttrriicctt sseettttlleemmeenntt aaccccoouunntt 136,074 6,385 33,757 6,778 10,703 11,691 6,318 19,695 5,267 3,297 5,994 7,346 18,843 TOTAL 1/ Excludes $982 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $150 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 (Philadelphia, Dallas and San Francisco Districts). 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 11, 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 85,185 4,352 21,916 4,715 7,425 7,630 3,245 14,010 3,610 1,825 3,116 3,556 9,785 T)pnnfii f"« • Member bank reserves 26,913 812 6,330 930 1,611 1,582 1,624 3,652 814 632 1,188 1,847 5,891 U.S. Treasury—general account 12,193 830 3,326 726 1,005 719 398 787 413 345 821 1,314 1,509 Foreign 234 8 1/ 59 10 20 13 18 35 8 7 10 13 33 Other 2/ 424 1 322 2 2 15 40 5 2 1 11 23 Total deposits 39,764 1,651 10,037 1,668 2,638 2,329 2,080 4,479 1,235 986 2,020 3,185 7,45* Deferred availability cash items 7,901 257 956 250 378 1,535 779 728 304 398 729 438 1,149 Other liabilities and accured dividends 1,039 50 297 50 75 72 52 144 45 24 > 37 45 148 TOTAL LIABILITIES 133,889 6,310 33,206 6,683 10,516 11,566 6,156 19,361 5,194 3,233 5,902 7,224 18,538 CAPITAL ACCOUNTS Capital paid in 996 32 251 43 85 55 77 152 33 30 42 57 139 Surplus 983 35 251 43 84 54 75 148 33 29 41 55 135 Other capital accounts 206 8 49 9 18 16 10 34 7 5 9 10 31 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 136,074 6,385 33,757 6,778 10,703 11,691 6,318 19,695 5,267 3,297 5,994 7,346 18,843 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 89,655 4,570 22,590 5,012 7,657 7,917 4,292 14,293 3,790 1,869 3,289 3,970 10,406 Collateral for F.R. notes: Gold certificate account 11,632 541 3,409 632 933 982 559 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 J 79,133 4,080 19,050 4,500 6,810 7,068 4,000 12,800 3,340 1,710 2,900 3,575 9,300 Total collateral 1 91,408 4,681 22,759 5,132 7,743 8,050 4,621 14,536 3,858 1,959 3,335 4,077 10,657 * Less than $500,000. ** Estimated (Philadelphia, Dallas and San Francisco District). V After deducting $175 million participations of other Federal Reserve Banks. 2/ Includes $16 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