H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and f*AL RE^V Condition Statement of F.R. Banks H.4.1 For immediate release July 7, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, July 6, * June 29, July 7, July 6, * and related items 1977 1977 1976 1977 Reserve Bank credit: 1/ (In millions of dollars) [ 11 2/ U.S. Government securities-- Bought outright—System account 97,857 - 502 + 7,131 96,695 Held under repurchase agreements 4,270 + 637 + 2,004 -- Federal Agency obligations— Bought outright 7,423 . 13 + 618 7,423 Held under repurchase agreements 511 + 69 + 373 -- Acceptances— Bought outright 42 - 3 - 317 41 Held under repurchase agreements 486 - 34 + 50 -- Loans— Total member bank borrowing 265 - 69 + 139 184 Includes seasonal borrowing of: 58 - 10 + 32 51 Other borrowing Float 3,626 + 180 + 1,165 4,007 Other F.R. assets 3,068 + 48 - 1,498 3,156 Total Reserve Bank credit 117,549 + 314 + 9,666 111,506 Gold Stock 11,620 - 6 + 22 11,620 Special Drawing Rights certif. acct. 1,200 — + 500 1,200 Treasury currency outstanding 11,123 + 10 + 482 11,139 141,492 + 317 +10,670 135,465 Currency in circulation ** 97,062 +1 ,111 + 7,831 97,977 Treasury cash holdings ** 450 + 9 - 60 450 Treasury deposits with F.R. Banks 12,560 -1, 498 + 2,145 9,647 Foreign deposits with F.R. Banks 368 + 109 + 111 ! 372 Other deposits with F.R. Banks 4/ 724 + 96 - 301 607 Other F.R. liabilities and capital 3,460 - 65 + 228 3,159 114,624 - 237 + 9,955 112,212 Member bank reserves: With Federal Reserve Banks 26,869 + 554 + 716 23,254 Currency and coin 8,681 + 57 + 461 8,681 Total reserves held 5/ 35,670 + 584 + 1,149 32,055 Required reserves "" 35,092 + 176 + 1,133 35,092 Excess reserves 5/ 578 + 408 + 16 - 3,037 NOTE A net of $51 million of surplus reserves were eligible to be carried forward from the week ended June 29, into the week ending July 6. On July 6, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $58,157 million, an increase of $125 million for the week. 1/ Net of $1,319 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $2,358 million of securities sold, and scheduled to be bought back under matched sale-purchase transactions. 3/ Includes $97 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 $120 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19 1975 * Estimated (San Francisco 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 July 6, June 29, July 7, ••*•. A S S E TS 1977 ** 1977 1976 Gold certificate account 1,620 — + 22 Special Drawing Rights certif. acct. * 1,200 — + 500 Coin 303 - 10 - 33 Loans 184 - 421 + 113 Acceptances—Bought outright 41 2 - 310 Held under repurchase agreements — - 413 - 209 Federal Agency obligations—Bought outright 7,423 - 13 + 618 Held under repurchase agreements — - 342 — U.S. Government securities: Bought outright--Bills 39,359 -1,615 +1,025 Certificates Notes 49,088 — +3,339 Bonds 8,248 — +2,151 Total bought outright J./2/ 96,695 -1,615 +6,515 Held under repurchase agreements — --33..555544 -1.401 Total U.S. Government securities 96,695 --55,,116699 +5,114 Total loans and securities 104,343 -6,360 +5,326 Cash items in process of collection (1,740) 11,080 +1,579 +1,471 Bank premises 372 + 2 + 27 Other assets 3/ 2.784 + 172 -1,401 TOTAL ASSETS (1,740) 131,702 -4,617 +5.904 L I A B I L I T I ES Federal Reserve notes 87,590 +1,275 +7,389 Deposits: Member bank-reserves account 23,254 - 393 -4,100 U.S. Treasury-general account 9,647 -6,468 +2,169 Foreign 372 + 85 + 112 Other 4y 607 + 15 - 193 Total deposits 33,880 -6,761 -2,012 Deferred availability cash items (1,740) 7,073 +1,236 + 502 Other liabilities and accrued dividends 1,051 - 39 - 49 TOTAL LIABILITIES (1,740) 129,594 -4,289 +5,830 C A P I T AL A C C O U N T S! Capital paid in 1,002 + 2 + 43 Surplus 983 — + 54 Other capital accounts 123 - 330 23 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $2,358 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $97 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. ** Estimated (San Francisco District). MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. JULY 6, 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 165 16 2,482 -5,296 52 -350 16 days to 90 days 19 21 17,487 - 225 366 - 27 91 days to 1 year — 4 29,375 + 829 1,047 + 22 Over 1 year to 5 years -- -- 29,652 - 477 3,636 — Over 5 years to 10 years -- — 11,233 — 1,499 — Over 10 years -- -. 6,466 — 823 — Total 184 41 96,695 -5,169 7,423 -355 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 July 6, 1977 New Phila- Cleve- Rich- St. Minne- Kansas San * Total Boston York delnhia land J mond Atlan_t__a_ _ 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 303 12 16 14 42 32 30 24 21 16 40 16 40 Loans 184 24 4 3 8 10 59 22 3 5 33 13 — Acceptances: Bought outright 41 — 41 -- — -- -- — — — — -- — Held under repurchase agreements -- — — — -- -- -- -~ -- -- — — — Federal Agency obligations— Bought outright 7,423 347 1,752 396 621 592 366 1,189 315 182 298 371 994 Held under repurchase agreements — -- — — — -- — — -- -- -- -- — U.S. Government securities: Bought outright— Bills 39,359 1,839 9,290 2,100 3,294 3,137 1,944 6,305 1,670 963 1,579 1,968 5,270 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 J./2/ 96,695 4,518 22,823 5,159 8,094 7,706 4,774 15,490 4,103 2,367 3,879 4,835 12,947 Held under repurchase agreements .. -- -- — -- -- -- -- — — — — — Total U.S. Government securities 96,695 4,518 22,823 5,159 8,094 7,706 4,774 15,490 4,103 2,367 3,879 4,835 12,947 Total loans and securities 104,343 4,889 24,620 5,558 8,723 8,308 5,199 16,701 4,421 2,554 4,210 5,219 13,941 Cash items in process of collection 12,820 435 2,332 346 661 2,122 1,559 1,388 473 522 1,037 677 1,268 Bank premises 372 110 9 56 24 61 14 16 13 30 18 12 9 Other assets 3/ 2,784 129 1,152 105 146 138 180 298 77 49 72 88 350 Interdistrict settlement account -0- - 181 +2,106 - 340 + 46 - 43 - 444 - 961 - 280 • 31 -• 71 + 364 - 165 TOTAL 133,442 5,995 33,929 6,441 10,679 11,709 7,160 19,392 5,244 3,389 5,741 6,878 16,885 * Estimated (San Francisco District). 1/ Excludes $2,358 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $97 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 July 6, 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 87,590 4,513 22,207 4,801 7,554 7,937 3,571 14,333 3,703 1,857 3,260 3,764 10,090 Deposits: Member bank reserves 23,254 352 6,740 712 1,539 1,132 1,672 2,911 654 486 971 1,524 4,561 U.S. Treasury—general account 9,647 661 2,414 566 808 571 662 835 432 482 507 894 815 Foreign 372 9 .L / 196 10 20 13 18 35 8 7 10 13 33 Other2/ 607 515 2 1 11 39 5 2 2 1 7 22 Total deposits 33,880 1,022 9,865 1,290 2,368 1,727 2,391 3,786 1,096 977 1,489 2,438 5,431 Deferred availability cash items 8,813 345 1,095 205 500 1,854 964 802 336 467 868 511 866 Other liabilities and accured dividends 1..051 46 230 53 77 73 75 149 39 27 36 46 200 TOTAL LIABILITIES 131,334 5,926 33,397 6,349 10,499 11,591 7,001 19,070 5,174 3,328 5,653 6,759 16,587 CAPITAL ACCOUNTS Capital paid in 1,002 | 32 251 43 86 55 77 153 33 30 42 57 143 Surplus 983 j 35 251 43 84 54 75 148 33 29 41 55 135 Other capital accounts 123 2 30 6 10 9 7 21 4 2 5 7 20 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 133,442 5,995 33,929 6,441 10,679 11,709 7,160 19,392 5,244 3,389 5,741 6,878 16,885 FEDERAL RESERVE AGENTS* ACCOUNTS F.R. notes outstanding 4,642 22,835 5,115 7,761 Xl79 47414 I57o05 37557 T?m T^JT 4,084 10,766 Collateral for F.R. notes: Gold certificate account 541 3,393 632 933 981 559 1,736 468 225 393 456 1,298 Special Drawing Rights certif. acct, 60 300 109 62 50 24 42 46 59 Acceptances U.S. Government securities 4,070 19,250 4,600 6,910 7,160 4,000 13,000 3.390 1,710 3.100 3,625 9,500 Total collateral 4,671 22,943 5,232 7,843 8,250 4,621 14,736 3,908 1,959 3,535 4,127 10,857 1/ After deducting. $176 million participations of other Federal Reserve Banks. Ij Includes $10 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redepoaited in full with Federal Reserve Banks. * Estimated (San Francisco District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis