H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and rf€^#: Condition Statement of F.R. Banks H.4.1 For immediate release June 30, 1977 Averages <3 f daily figures Member bank reserves, Week ended Change fr<j m week ended Wednesday Reserve Bank credit, June 29, * June 22, | June 30, June 29, * and related items 1977 1 1977 1 1976 ! 1977 Reserve Bank credit: 1/ (In millions of dollars) 2/ 3/ U.S. Government securities-- Bought outright--System account 98,359 +2,115 +7,668 98,310 Held under repurchase agreements 3,633 +2,683 + 22 3,554 Federal Agency obligations-- Bought outright 7,436 + 326 + 631 7,436 Held under repurchase agreements 442 + 387 + 255 342 Acceptances— Bought outright 45 3 - 325 1 43 Held under repurchase agreements 520 + 365 - 100 413 Loans-- Total member bank borrowing 334 + 63 + 169 ! 605 Includes seasonal borrowing of: 68 + 17 + 40 67 Other borrowing Float 3,432 - 370 +1,105 3,655 Other F.R. assets 3,022 + 116 -1,128 2,998 Total Reserve Bank credit 117,223 +5,680 +8,298 117,356 Gold Stock 11,626 3 + 28 11,620 Special Drawing Rights certif. acct. 1,200 -- + 586 1,200 Treasury currency outstanding 11,113 + 3 + 483 11,116 141,163 +5,681 +9,396 141,292 Currency in circulation ** 95,944 - 49 +7,586 96,679 Treasury cash holdings ** 449 + 9 - 62 450 Treasury deposits with F.R. Banks 14,058 +5,368 +2,270 16,115 Foreign deposits with F.R. Banks 259 2 + 8 287 Other deposits with F.R. Banks 4/ 628 + 28 71 592 Other F.R. liabilities and capital 3,525 + 236 10 3,523 114,862 +5,589 +9,720 117,646 Member bank reserves: With Federal Reserve Banks 26,302 + 93 - 327 23,647 Currency and coin 8,624 + 260 + 547 8,624 Total reserves held 5/ 35,073 + 353 + 207 32,418 Required reserves 34,916 + 300 + 575 34,916 Excess reserves 5/ 157 + 53 - 368 - 2,498 NOTE A net of $28 million of surplus reserves were eligible to be carried forward from the week ended June 22, into the week ending June 29. On June 29, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $58,032 million, an increase of $223 million for the week. \J Net of $715 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $887 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $133 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 4/ Includes $10 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 (Kansas City 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 Change since June 29, June 22, June 30, A S S E TS 1977** 1977 1976 , Gold certificate account 11,620 - 9 + 22 Special Drawing Rights certif. acct. * 1,200 -. + 500 Coin 313 — - 26 Loans 605 - 607 + 291 Acceptances—Bought outright 43 - 4 - 318 Held under repurchase agreements 413 + 61 - 253 Federal Agency obligations—Bought outright 7,436 — + 631 Held under repurchase agreements 342 + 98 + 65 U.S. Government securities: Bought outright—Bills 40,974 + 1,601 + 2,245 Certificates Notes 49,088 +' 3,339 Bonds 8,248 ZZ + 2,151 Total bought outright 1/2/ 98,310 1,601 + 7,735 Held under repurchase agreements 3,554 812 -•• 317 Total U.S. Government securities 101,864 + 2,413 + 7,418 Total loans and securities 110,703 1,961 + 7,834 Cash items in process of collection (1,966) 9,598 - 117 + 554 Bank premises 370 1 + 24 Other assets V 2,628 + 16 - 1,259 TOTAL ASSETS (1,966) 136,432 + 1,850 + 7,649 L I A B I L I T I ES Federal Reserve notes 86,325 + 568 + 7,201 Deposits: Member bank-reserves account 23,647 - 2,182 - 3,813 U.S. Treasury—general account 16,115 + 3,157 + 4,143 Foreign 287 + 37 62 Other 4y 592 - 39 - 255 Total deposits 40,641 + 973 + 13 Deferred availability cash items (1,966) 5,943 + 134 + 476 Other liabilities and accrued dividends 1,087 + 80 72 TOTAL LIABILITIES (1,966) 133,996 + 1,755 + 7,618 C A P I T AL A C C O U N TS Capital paid in 1,000 _ _ + 41 Surplus 983 -- + 54 Other capital accounts 453 + 95 64 Figures in parentheses are the eliminations made in the consolidating process. Estimated (Kansas City District). 1/ Excludes $887 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $133 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $10 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, June 29, 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 "595" "ZTZ5- 7,778 + 294 402 + 98 16 days to 90 days 26 17,712 + 369 393 91 days to 1 year 4 28,546 +1,750 1,025 Over 1 year to 5 years 30,129 -- 3,636 Over 5 years to 10 years 11,233 _- 1,499 Over 10 years 6,466 -- 823 Total 605 456 101,864 +2,413 7,778 + 98 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 June 29, 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) A S. S. E TS Gold certificate account 11,620 541 3,394 631 934 982 560 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 313 12 16 14 44 34 31 25 21 16 42 17 41 Loans 605 107 44 106 34 88 16 30 17 8 53 74 28 Acceptances: Bought outright 43 43 Held under repurchase agreements 413 413 Federal Agency obligations— Bought outright 7,436 347 1,755 397 622 593 367 1,191 316 182 298 372 996 Held under repurchase agreements 342 342 U.S. Government securities: Bought outrigjit — Bills 40,974 1,915 9,671 2,186 3,429 3,266 2,023 6,563 1,739 1,003 1,644 2,049 5,486 Certificates Notes 49,088 2,294 11,586 2,619 4,109 3,912 2,423 7,864 2,083 1,202 1,969 2,454 6,573 Bonds 8,248 385 1,947 440 691 657 407 1,321 350 202 331 413 1.104 Total bought outright 1/2/ 98,310 4,594 23,204 5,245 8,229 7,835 4,853 15,748 4,172 2,407 3,944 4,916 13,163 Held under repurchase agreements 3,554 3,554 Total U.S. Government securities 101,864 4,594 26,758 5,245 8,229 7,835 4,853 15,748 4,172 2.407 3.944 4,916 13.163 Total loans and securities 110,703 5,048 29,355 5,748 8,885 8,516 5,236 16,969 4,505 2,597 4,295 5,362 14,187 Cash items in process of collection 11,564 307 1,925 361 653 1,785 1,182 1,196 537 476 1,043 701 1,398 Bank premises 370 110 9 56 24 60 14 16 12 30 18 12 9 Other assets 3/ 2,628 83 1,170 102 137 145 147 255 74 45 82 85 303 Interdistrict settlement account -0- + 335 -1,124 - 89 + 211 - 361 - 335 + 59 + 50 25 + 773 + 913 - 407 TOTAL 138,398 6,496 35,045 6,894 10,991 11,270 6,897 20,446 5,718 3,388 6,688 7,592 16,973 1/ Excludes $887 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $133 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3_/ Includes assets denominated in foreign currencies. * Estimated (Kansas City 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 June 29, 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 86,325 4,447 21,929 4,738 7,462 7,806 3,487 14,121 3,640 1,843 3,223 3,694 9,935 Deposits: Member bank reserves. 23,647 873 5,170 991 1,567 1,128 1,807 3,429 868 751 1,192 1,956 3,915 U.S. Treasury—general account 16,115 749 5,409 747 1,236 581 534 1,574 723 262 1,242 1,256 1,802 Foreign 287 8 1/ 112 10 20 13 18 35 8 7 10 13 33 Other 2/ 592 1 497 1 10 42 7 5 1 1 12 15 Total deposits 40,641 1,631 11,188 1,749 2,823 1,732 2,401 5,045 1,604 1,021 2,445 3,237 5,765 Deferred availability cash items 7,909 288 1,048 242 416 1,514 758 749 349 430 882 478 755 Other liabilities and accured dividends 1,087 45 268 55 82 76 78 156 41 25 37 48 176 TOTAL LIABILITIES 135,962 6,411 34,433 6,784 10,783 11,128 6,724 20,071 5,634 3,319 6,587 7,457 16,631 CAPITAL ACCOUNTS Capital paid in 1,000 32 251 43 86 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 453 18 110 24 38 33 21 75 18 10 18 23 65 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 138,398 6,496 35,045 6,894 10,991 11,270 6,897 20,446 5,718 3,388 6,688 7,592 16,973 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 91,171 4,608 22,749 5,054 7,690 8,144 4,446 14,504 3,833 1,918 3,405 4,085 10,735 Collateral for F.R. notes: Gold certificate account 11,616 541 3,393 632 933 982 559 1,736 468 225 393 456 1,298 Special Drawing Rights certif. acct. 752 60 300 — -- 109 62 — 50 24 42 46 59 Acceptances -- — — — — — -- _- — — -- — — U.S. Government securities 79,965 4,070 19,150 4,500 6,910 7,110 4,000 13,000 3,390 1,710 3,000 3,625 9,500 Total collateral 92,333 4,671 22,843 5,132 7,843 8,201 4,621 14,736 3,908 1,959 3,435 4,127 10,857 1/ After deducting $175 million participations of other Federal Reserve Banks. 2/ Includes $10 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. * Estimated (Kansas City District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis