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 July 21, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, July 20, * July 13, 1 July 21, July 20, * and related items 1977 1977 | 1976 1977 Reserve Bank credit: 1,/ (In millions of dollars) 12/ 3/ U.S. Government securities— Bought outright—System account 96,508 - 927 4-7,325 ! 95,891 Held under repurchase agreements 361 + 361 4- 2 2,527 Federal Agency obligations- Bought outright 7,423 4- 618 7,423 Held under repurchase agreements 68 4- 68 4- 56 473 Acceptances— Bought outright 29 8 - 312 25 Held under repurchase agreements 27 4- 27 2 186 Loans-- Total member bank borrowing 406 4- 247 4- 347 222 Includes seasonal borrowing of: 56 4- 4 4- 32 61 Other borrowing Float 5,039 - 66 4- 2,359 4,597 Other F.R. assets 3,412 4- 240 - 1,167 4,240 Total Reserve Bank credit 113,273 - 59 4- 9,227 115,584 Gold Stock 11,605 - 11 4- 7 11,605 Special Drawing Rights certif. acct. 1,200 — 4- 500 1,200 Treasury currency outstanding 11,151 4- 11 4- 495 11,151 137,229 - 59 4-10,229 139,540 Currency in circulation 97,581 - 340 4- 7,999 97,541 Treasury cash holdings 450 4- 11 + 7 450 Treasury deposits with F.R. Banks 6,783 -2 ,239 4- 1,161 7,220 Foreign deposits with F.R. Banks 330 4- 59 4- 48 247 Other deposits with F.R. Banks4/ 1,025 4- 395 4- 80 1,867 Other F.R. liabilities and capital 3,328 4- 66 4- 42 3,383 109,496 -2 ,048 4- 9,336 110,708 Member bank reserves; With Federal Reserve Banks 27,733 4-1, 989 4- 891 ! 28,833 Currency and coin 7,851 -1 120 4- 422 7,851 Total reserves held 5/ 35,678 4- 841 + 1,258 36,778 Required reserves 35,315 4- 936 4-1,123 1 35,315 Excess reservesS/ 363 - 95 4- 135 1,463 NOTE: A net of $97 million of surplus reserves were eligible to be carried forward from the week ended July 13, into the week ending July 20. On July 20, 1977, marketable U.S, government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $59,568 million, an increase of $1,787 million for the week. _ 1/ Net of $1,717 million, daily average, matched sale-purchase transactions outstanding during the statement week* 2/ Excludes $2,253 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $116 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 $94 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (New York District). ** Estimated (Treasury's figures). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

K.^.lc CONSOLIDATED STATEMENT OF CONDITION OF iXL FEDERAL RESERVE aw. fin millions cf dollar.* WWttddnneessssccaavv Cl.."'^- iinc f; JJuullvv 22CCLL [July iJ, Ju fyin; " A S S E TS **1977 J 1977 1976 Gold certificate account 11,605 -- + 7 Special Drawing Rights certif„ acct. •k 1,200 — + 500 Coj^i "?*•'- 352 + 49 + 5 Loans 222 - 161 + 97 Acceptances--Bought outright 25 - 7 - 315 Held under repurchase agreements 186 + 186 + 186 Federal Agency obligations—Bought outrighhtt 7,423 -- + 618 Held under repurchase agreements 473 + 473 + 473 U.S. Government securities: Bought outright--Bills 38,555 - 808 + 920 Certificates Notes 49,088 __ + 3,339 Bonds 88,,224488 — ±±--2,151 _ Total bought outright 1/2/ 9955,,889911 808 ++ 6,410 Held under repurchase agreements 2,527 +2 ,527 + 2,527 Total U.S. Government securities 98,418 +1 ,719 + 8,937 Total loans and securities 106,747 +2 ,210 + 9,996 Cash items in process of collection (2,181) 10,896 + 663 + 1,681 Bank premises 372 -- + 25 Other assets \j 3,868 + 169 - 196 TOTAL ASSETS (2,181) 135,040 ±1, 091 +12,018 LIABILITIES; Federal Reserve notes 87,191 - 170 + 7,545 Deposits: Member bank-reserves account 28,833 +3,076 + 896 U.S. Treasury—general account 7,220 -1,307 + 2,178 Foreign 247 4 30 Other £/ 1,867 +1,190 + 725 Total deposits 38,167 +2,955 + 3,769 Deferred availability cash items (2,181) 6,299 + 211 + 630 Other liabilities and accrued dividends 1,035 - 24 9 TOTAL LIABILITIES (2,181) 132,692 +2,972 +11,935 C A P I T AL A C C O U N TS Capital paid in 1,004 + 44 Surplus 983 -- + 54 Other capital accounts 361 + 119 15 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $2,253 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $116 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 (New York District). MATURITY DISTRIBUTION: OF LOANS AND SECURITIES» July 20, 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 196 195 5,770 + 1,967 503 +451 16 days to 90 *ys 26 12 17,165 + 755 336 - 30 91 days to 1 year 4 28,132 1,004 1,074 + 27 Over 1 year to 5 years 29,652 + 1 3,648 + 12 Over 5 years to 10 years 11,233 -- 1,512 + 13 Over 10 years 6,466 — 823 Total 222 211 98,418 +1,719 7,896 +473 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 20, 1977 * New Phila Cleve- Rich St. Minne- Kansas San Total Bo8ton York delphia mond Atlanta Chicago Louis apoli s Citv Dallas Francisco (In millions of dollars) A £ S, ETS Gold certificate account 11,605 541 3,379 631 934 982 560 1,736 469 225 393 456 1,299 Special Drawing Rights certif. acct. 1 1,200 60 300 71 103 109 62 190 50 24 42 46 143 Coin 352 12 18 14 43 33 29 25 63 16 41 17 41 Loans 222 17 29 -- 2 12 9 20 1 5 28 59 40 Acceptances: Bought outright 25 25 Held under repurchase agreements 186 186 Federal Agency obligations— Bought outri^it 7,423 347 1,752 396 621 592 366 1,189 315 182 298 371 994 Held under repurchase agreements 473 473 U.S. Government securities: Bought outright— Bills 38,555 1,802 9,100 2,057 3,227 3,073 1,904 6,176 1,636 943 1,547 1,928 5,162 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 TToottaall bboouugghhtt oouuttrriigghhtt JJ77 22// 95,891 4,481 22,633 5,116 8,027 7,642 4,734 15,361 4,069 2,347 3,847 4,795 12,839 HHeelldd uunnddeerr rreeppuurrcchhaassee aaggrreeeemmeennttss 2,527 2,527 TToottaall UU..SS.. GGoovveerrnnmmeenntt sseeccuurriittiieess 98,418 4,481 25,160 5,116 8,027 7 S 642 4,734 15,361 4,069 2,347 3,847 4,795 12,839 Total loans and securities 106,747 4,845 27,625 5,512 8,650 8,246 5,109 16,570 4,385 2,534 4,173 5,225 13,873 Cash items in process of collection 1 13,077 423 2,347 325 586 2,036 1,303 1,614 540 562 964 622 1,755 Bank premises 372 110 9 56 24 61 14 16 13 30 18 12 9 Other assets 3/ 3,868 j 91 2,281 108 151 152 151 282 94 51 79 90 338 Interdistrict settlement account -0- + 29 -2,065 - 305 + 280 + 292 - 599 + 824 - 49 - 50 + 174 + 964 + 505 TOTAL 137,221 6,111 33,894 6,412 10,771 11,911 6,629 21,257 5,565 3,392 5,884 7,432 17,963 * Estimated (New York District). 1/ Excludes $2,253 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $116 million securities loaned--tully 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 20, 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 87,191 4,463 22,336 4,756 7,581 7,792 3,352 14,408 3,701 1,842 3,233 3,733 9,994 DDeeppoossiittss:: MMeemmbbeerr bbaannkk rreesseerrvveess 28,833 743 6,530 870 1,647 1,513 1,825 4,424 964 556 1,356 2,302 6,103 UU..SS.. TTrreeaassuurryy——ggeenneerraall aaccccoouunntt 7,220 443 1,212 414 837 594 301 1,003 424 456 314 717 505 FFoorreeiiggnn 247 8 72 1/ 10 20 13 18 35 8 7 10 13 33 OOtthheerr 22// 1,867 1 1,767 1 1 22 40 5 1 1 3 14 11 TToottaall~~""""ddeeppoossiittss 38,167 1,195 9,581 1,295 2,505 2,142 2,184 5,467 1,397 1,020 1,683 3,046 6,652 DDeeffeerrrreedd aavvaaiillaabbiilliittyy ccaasshh iitteemmss 8,480 329 1,124 207 409 1,770 849 878 349 439 802 477 847 Other liabilities and accured dividends 1,035 45 262 50 75 70 74 143 38 24 69 45 140 TOTAL LIABILITIES 134,873 6,032 33,303 6,308 10,570 11,774 6,459 20,896 5,485 3,325 5,787 7,301 17,633 CAPITAL ACCOUNTS Capital paid in 1,004 32 254 43 86 55 77 153 33 30 42 57 142 Surplus 983 35 251 43 84 54 75 148 33 29 41 55 135 Other capital accounts 361 12 86 18 31 28 18 60 14 8 14 19 53 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 137,221 6,111 33,894 6,412 10,771 11,911 6,629 21,257 5,565 3,392 5,884 7,432 17,963 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 92,505 4,707 23,072 5,165 7,881 8,207 4,424 14,777 3,919 1 ,944 3 ,448 4,110 10;851 Collateral for F.R. notes: Gold certificate account 11,601 541 3,378 632 933 982 559 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 81,335 4,120 19,450 4,600 7,010 7,220 4,000 13,200 3,450 1 ,810 3 ,100 3,675 9,700 Total collateral 93688 4.721 23.128 5.232 7.943 8.311 4,621 14,936 3,968 2 ,059 3 535 4,177 11,057 r f Yj After deducting $175 million partic Lpations o\ other Federal Reserve Banks. 27 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(New York District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis