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 19, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, May 18, ™Ma„„y i1i1 iM Moa„y 1ia9 , MMaOy„ I1Q8 , and related items 1977 1977 1976 1977 Reserve Bank credit: 1/ (In millions of dollars) TTTj U.S. Government securities-- Bought outright--System account 97,473 + 163 +10,303 97,043 Held under repurchase agreements 1,861 785 + 599 1,119 Federal Agency obligations-- Bought outright 7,077 + 470 7,077 Held under repurchase agreements 280 + 117 + 200 276 Acceptances— Bought outright 72 12 402 68 Held under repurchase agreements 448 - 114 258 290 Loans-- Total member bank borrowing 126 30 + 4 211 Includes seasonal borrowing of: 28 + 6 + 17 30 Other borrowing Float 2,671 - 476 + 294 3,288 Other F.R. assets 3,007 - 207 - 1,008 2,754 Total Reserve Bank credit 113,015 -1,344 +10,719 112,126 Gold Stock 11,633 3 + 34 11,629 Special Drawing Rights certif. acct. 1,200 + 700 1,200 Treasury currency outstanding 11,055 + 514 11,058 136,903 -1,340 +11,967 136,013 Currency in circulation * 95,143 + 214 + 7,641 95,213 Treasury cash holdings * 450 + 8 64 450 Treasury deposits with F.R. Banks 10,862 -2,411 + 4,389 10,848 Foreign deposits with F.R. Banks 365 + 6 + 65 279 Other deposits with F.R. Banks 4/ 525 7 43 536 Other F.R. liabilities and capiFal 3,281 + 116 + 47 3,296 110,626 -2,074 +12,035 110,622 Member bank reserves: With Federal Reserve Banks 26,278 + 734 68 25,392 Currency and coin 8,554 - 445 + 916 8,554 Total reserves held 5/ 34,983 + 288 + 847 34,097 Required reserves ~~ 34,750 + 104 + 859 34,750 Excess reserves 5/ 233 + 184 - 12 - 653 NOTE: A net of $35 million of surplus reserves were eligible to be carried forward from the week ended May 11, into the week ending May 18. On May 18, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $58,520 million an increase of $978 million for the week. 1/ Net of $1,359 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $1,455 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $107 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 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. 5/ Adjusted to include $151 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

STATEMENT OF fONDITICli' OF ALL FEDERAL RESERVE 7XANKS 'Tn millions o: ic liars'* Wednesday Chance since May 11 May 11, i Mav 19, A S S E SS 1977 1977 I 1976 Gold certificate account: 11,629 - 7 + 30 Special Drawing; Rights certif. acct. 1,200 ..- 4- 700 Coin . >. 329 4- 7 14 Loans 211 - 171 - 330 Acceptances--Bought outright 68 - 7 - 393 Held under repurchase agreements 290 - 307 - 130 Federal Agency obligations—Bought outright 7,077 -- 4- 470 Held under repurchase agreements 276 4- 193 4- 126 U.S. Government securities: Bought outright--Bills 40,177 - 463 4-3,827 Certificates Notes 48,732 - 900 4-3,876 Bonds 8,134 4- 900 4-2,133 Total bought outright 1/2/ 97,043 - 463 4-9,836 Held under repurchase agreements 1,119 -2 ,253 -1,961 Total U.S. Government securities 98,162 -2 ,716 4-7,875 Total loans and securities 106,084 -3 ,008 4-7,618 Cash items in process of collection (2,098) 9,234 4-1, 045 4- 254 Bank premises 368 4- 1 + 28 Other assets \j 2,386 - 525 - 816 TOTAL ASSETS (2,098) 131,230 -2 ,487 4-7,800 LIABILITIES Federal Reserve notes 84,933 - 197 4-7,033 Deposits: Member bank-reserves account 25,392 -1,521 -2,240 U.S. Treasury—general account 10,848 -1,345 4-2,987 Foreign 279 4- 45 4- 49 Other 4_/ 536 4- 112 4- 18 Total deposits 37,055 -2,709 4- 814 Deferred availability cash items (2,098) 5,946 + 342 7 Other liabilities and accrued dividends 988 - 46 - 150 TOTAL LIABILITIES (2,098) 128,922 -2,610 4-7,690 C A P I T AL A C C O U N T S. Capital paid in 998 4- 2 4- 46 Surplus 983 — 4- 54 Other capital accounts 327 4- 121 4- 10 * Figures in parentheses are the eliminations made in the consolidating process. V Excludes $1,455 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2j Includes $107 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, MAY 18. 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 203 308 5,532 -5,759 383 4-261 16 days to 90 days 8 50 17,689 4- 137 212 - 68 91 days to 1 year — — 27,525 4-1,837 1,140 4- 34 Over 1 year to 5 years — — 29,899 -1,005 3,456 - 34 Over 5 years to 10 years — — 11,165 4-1,174 1,372 -- Over 10 years -- -- * 1.352 4- 900 790 — Total 211 358 98,162 -2,716 7,353 4-193 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 18, 1977 New Fhila- Cleve- Rich- St. Minne- Kansas San Total Boston York delphia land 1 mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 11,629 541 3,403 631 934 982 560 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 329 15 19 13 45 38 33 28 24 16 43 20 35 Loans 211 7 2 8 ... 1 4 144 1 4 20 15 5 Acceptances: Bought outright 68 — 68 — -- — — — — -- -** -- -- Held under repurchase agreements 290 — 290 -- — -- — — — — — -- «... 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 276 — 276 ~ — — — -- -- — -- — U.S. Government securities: Bought outright-- s Bills 40,177 1,878 9,483 2,143 3,363 3,202 1,983 6,436 1,705 984 1,612 2,009 5,379 Certificates — -- — — — — — — -- -- — — Notes 48,732 2,277 11,502 2,600 4,079 3,884 2,406 7,807 2,068 1,193 1,955 2,436 6,525 Bonds 8,134 380 1,920 434 681 648 402 1,303 345 199 326 407 1,089 Total bought outright 1/2/ 97,043 4,535 22,905 5,177 8,123 7,734 4,791 15,546 4,118 2,376 3,893 4,852 12,993 Held under repurchase agreements 1.119 -- 1.119 -- — — -- — — — — — — Total U.S. Government securities 98,162 4,535 24,024 ~ 5,177 ~" 8,123 """ 7,734 4,791 15,546 4,118 2,376 3,893 4,852 12,993 Total loans and securities 106,084 4,873 26,330 5,563 8,715 8,299 5,144 16,824 4,419 2,553 4,197 5,221 13,946 Cash items in process of collection 11,332 384 2,044 22 588 1,828 1,278 1,410 513 462 899 596 1,308 Bank premises 368 109 9 56 24 57 14 16 13 30 19 12 9 Other assets 3^/ 2,386 63 1,186 168 100 144 91 183 62 33 50 86 220 Interdistrict settlement account -0- + 94 - 835 - 30 + 76 + 9 - 390 - 553 - 206 + 275 + 83 + 585 + 892 TOTAL 133,328 6,139 32,456 6,494 10,585 11,466 6,792 19,834 5,344 3,618 5,726 7,022 17,852 y Excludes $1,455 million of securities sold, and scheduled to be bought bacljc, under matched sale-purchase transactions. 27 Includes $107 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 May 18, 1977 New Phila Cleve Rich St. Minne Kansas San 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 I ES federal Reserve notes 34,933 4,368 21,819 4,719 7,431 7,582 3,217 14,045 3,^594 1,824 3,110 3,543 9,681 Deposits: Member bank reserves 25,392 835 5,842 649 1,568 1,148 1,738 3,456 755 648 1,134 1,729 5,890 U.S. Treasury—general account 10,848 513 2,379 751 832 861 695 931 490 621 565 1,098 1,112 Foreign 279 8 1/ 104 10 20 13 18 35 8 7 10 13 33 Other 2/ 536 1 415 9 2 16 41 12 1 1 2 14 Total deposits 37,055 1,357 8,740 1,419 2,422 2,038 2,492 4,434 1,254 1,277 1,711 2,854 7,057 Deferred availability cash items 8,044 290 1,072 203 460 1,635 863 854 373 425 773 451 645 Other liabilities and accured dividends 938 44 24 3 51 77 76 52 149 45 26 36 46 143 TOTAL LIABILITIES 131,020 6,059 31,874 6,392 10,390 11,331 6,624 19,482 5,266 3,552 5,630 6,894 17,526 CAPITAL ACCOUNTS Capital paid in 998 32 251 43 84 55 77 152 33 30 42 57 142 Surplus 983 35 251 43 84 54 75 148 33 29 41 55 135 other capital accounts 327 13 80 16 27 26 16 52 12 7 13 16 49 TOTAL LIABILITIES AND CAF'TAL ACCOUNTS 13 3,328 6,139 32,456 6,494 10,585 11,466 6,792 19,834 5,344 3,618 5,726 ' 7,022 17,852 FEDERAL RESERVE AGENT'S' ACCOUNTS I'.R. notfs outstanding 89,970 4,585 22,656 5,017 7,703 7,916 4,255 14,401 3,839 1,874 3,289 37^5 —m^m Collateral for F.R. notes: (Joid certificate account 11,625 541 3,402 632 933 982 559 1,736 468 225 393 456 1,298 Special Drawing Rights cert if. acct. 643 60 300 -- .- -- 62 -- 50 24 42 46 59 Acceptances -- ... -- -- _., -- -- -- -- -- -- -- -- I. . S . Government secur it i es 79,183 4,080 19,050 4,500 6,810 7,068 4,000 12,800 3,390 1,710 2,900 3,575 9,300 Total collateral 91,451 4,681 22,752 5,132 7,743 8,050 4,621 14,536 3,908 1,959 3,335 4,077 10,657 1/ Att-jr deducting $175 million participations of other Federal Reserve Banks. 2/ Includes S16 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