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 June 2, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, June 1, * May 25, June 2, June 1, * 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 96,312 - 395 +9,236 95,252 Held under repurchase agreements 119 -1,665 -1,876 Federal Agency obligations-- Bought outright 7,077 + 250 7,077 Held under repurchase agreements 1 - 197 93 Acceptances-- Bought outright 59 4 - 375 58 Held under repurchase agreements 7 339 - 285 Lo an s-- Total member bank borrowing 230 81 12 220 Includes seasonal borrowing of: 44 10 + 27 39 Other borrowing Float 2,536 183 + 574 2,933 Other F.R. assets 2,862 306 933 4,017 Total Reserve Bank credit 109,203 -2,559 +6,486 109,557 Gold Stock 11,629 __ + 31 11,629 Special Drawing Rights certif. acct. 1,200 -- + 700 1,200 Treasury currency outstanding 11,073 + 4 + 493 11,073 133,105 -2,555 +7,710 133,459 Currency in circulation ** 95,382 + 506 +7,492 95,986 Treasury cash holdings ** 450 -- - 38 450 Treasury deposits with F.R. Banks 6,932 -3,573 + 155 4,946 Foreign deposits with F.R. Banks 321 + 58 + 46 325 Other deposits with F.R. Banks 4/ 822 + 274 + 106 1,996 Other F.R. liabilities and capital 3,476 + 101 + 60 3,517 107,384 -2,634 +7,822 107,220 Member bank reserves: With Federal Reserve Banks 25,721 + 78 - 113 26,239 Currency and coin 8,585 ± ja± + 752 8,585 Total reserves held 5/ 34,453 + 497 + 628 34,971 Required reserves — 34,040 + 241 + 668 34,040 Excess reserves 5/ 413 + 256 - 40 931 NOTE: A net of $92 million of surplus reserves were eligible to be carried forward from the week ended May 25, into the week ending June 1. On June 1, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $58,395 million, an increase of $94 million for the week. 1/ Net of $1,484 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $2,420 million of secruities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $154 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 4/ Includes $14 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 $147 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Cleveland 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 (S hange since June 1, May ^>, June 2, A S S E TS 1977 ** 1977 1976 Gold certificate account 11,629 -- + 31 Special Drawing Rights certif. acct. * 1,200 — + 700 Coin 315 - 9 - 27 Loans 220 - 229 + 54 Acceptances—Bought outright 58 ' - 2 - 362 Held under repurchase agreements Federal Agency obligations--Bought outright 7,077 250 Held under repurchase agreements U.S. Government securities; Bought outright—Bills 38,386 654 + 4,645 Certificates Notes 48,732 -- + 3,876 Bonds 8,134 -- + 2,133 Total bought outright 1/2/ 95,252 - 654 +10,654 Held under repurchase agreements Total U.S. Government securities 95,252 - 654 +10,654 Total loans and securities 102,607 - 885 +10,596 Cash items in process of collection (1,929) 10,380 +1,951 + 966 Bank premises 369 -- + 27 Other assets3_/ 3,648 +1,329 12 TOTAL ASSETS U929) 130,148 +2,386 +12,281 L IA B U I T I ES Federal Reserve notes 85,678 + 752 + 6,899 Deposits: Member bank-reserves account 26,239 +2,166 + 4,074 U.S. Treasury—general account 4,946 -4,098 - 1,182 Foreign 325 + 51 + 90 Other */ 1,996 +1,283 + 1,147 Total deposits 33,506 - 598 + 4,129 Deferred availability cash items (1*929) 7,447 +2,140 + 738 Other liabilities and accrued dividends 992 9 59 TOTAL LIABILITIES 127,623 +2,285 +11,707 C A P I T AL A C C O U N TS Capital paid in 999 .. + 46 Surplus 983 -- + 54 Other capital accounts 543 + 101 + 474 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $2,420 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $154 million securities loaned--fully secured by U. S. Government securities pledged with Federal Reserve Barks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $14 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Re serve Banks. ** Estimated (Cleveland District). MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. June 1, 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 201 9 1,937 -1,933 71 + 3 16 days to 90 days 19 45 18,195 + 582 277 + 65 91 days to 1 year 4 27,673 + 666 1,102 - 68 Over 1 year to 5 years 29,930 + 31 3,450 -- Over 5 years to 10 years 11,165 -- 1,387 + 15 Over 10 years 6,352 -- 790 - 15 Total 220 58 95.252 - 654 7.077 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 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) 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 315 14 16 14 44 36 31 25 23 15 42 17 38 Lens 220 23 12 20 67 15 2 18 5 9 33 15 1 Acceptances: Bought outright 58 -- 58 -- -- -- -- -- -- -** -- "*~ Held under repurchase agreements -** .. **- •*- —- •""* — - -- -""• ""*• •""* — ~ — — 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 -- -~ -- ~" -- ~~ -•" -- "" -- *~ -"" — U.S. Government securities: Bought outright— Bills 38,386 1,794 9,060 2,048 3,213 3,059 1,895 6,149 1 ,629 940 1,540 1,919 5,140 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/ If 95,252 4,451 22,482 5,082 7,973 7,591 4,703 15,259 4 ,042 2 ,332 3,821 4,762 12,754 Held under repurchase agreements -- -- -- -- — -- -- -- --. -- -- -- -- Total U.S. Government securities 95,252 4,451 22,482 5,082 7,973 7,591 4,703 15,259 T ,042 ~T,3 32 3,821 4,762 12,754 Total loans and securities 102,607 4,805 24,222 5,480 8,632 8,170 5,054 16,411 4 ,347 2 ,514 4,138 5,131 13,703 Cash items in process of collection 12,309 462 1,969 236 560 2,032 1,414 1,572 500 565 995 816 1,188 Bank premises 369 109 9 56 24 58 14 16 13 30 19 12 9 Other assets .2/ 3,648 74 2,334 106 109 122 106 208 75 40 60 68 346 Interdistrict settlement account -0- - 98 +1,933 - 91 - 149 + 6 - 780 + 410 - 337 + 115 - 217 + 360 -1,152 TOTAL 132,077 5,967 34,186 6,503 10,257 11,515 6,461 20,568 5 ,140 3 ,528 5,472 6,906 15,574 Estimated (Cleveland District). 1/ Excludes $2,420 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $154 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 June 1, 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 85,678 4,394 21,790 4,728 7,416 7,713 3,425 14,065 3,628 1,845 3,167 3,636 9,871 Deposits: Member bank reserves 26,239 821 7,470 874 1,645 1,095 1,484 4,793 769 609 1,029 1,795 3,855 U.S. Treasury—general account 4,946 261 670 497 482 543 175 257 250 464 264 719 364 Foreign 325 8 1/ 150 10 20 13 18 35 8 7 10 13 33 Other 2/ 1,996 1 1,905 1 1 13 42 5 1 2 2 8 15 Total deposits 33,506 1,091 10,195 1,382 2,148 1,664 1,719 5,090 1,028 1,082 1,305 2,535 4,267 Deferred availability cash items 9,376 349 1,327 228 400 1,913 1,090 887 356 505 859 550 912 Other liabilities and accured dividends 992 45 232 50 79 72 50 148 40 25 37 46 168 TOTAL LIABILITIES 129,552 5,879 33,544 6,388 10,043 11,362 6,284 20,190 5,052 3,457 5,368 6,767 15,218 CAPITAL ACCOUNTS Capital paid in 999 32 251 43 85 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 543 21 140 29 45 44 25 78 22 12 21 27 79 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 132,077 5,967 34,186 6,503 10,257 11,515 6,461 20,568 5,140 3,528 5,472' b,906 15,574 FEDERAL RESERVE AGENTS1 ACCOUNTS F.R. notes outstanding 90,294 4,560 22,594 5,018 7,668 8,003 4,384 14,379 3,835 1,899 3,343 4,001 10,610 Collateral for F.R. notes: Gold certificate account 11,625 541 3,402 632 933 982 559 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 79,383 4,080 19,050 4,500 6,810 7,068 4,000 12,800 3,390 1,710 3,000 3,575 9,400 Total collateral 91,651 4,681 22,752 5,132 7,743 8,050 4,621 14,536 3,908 1,959 3,435 4,077 10,757 * Estimated(Cleveland District) 17 After deducting $175 million participations of other Federal Reserve Banks. 2/ Includes $14 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