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 28, 1977 Averages of dally figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, July 27,* July 20, July 28, July 27, and related items 1977 1977 1976 1977 Reserve Bank credit: TJ (In millions of dollars) 2/ 3/ U.S. Government securities-- Bought outright—System account 96,339 - 169 +7,350 96,834 Held under repurchase agreements 999 + 638 + 472 1,563 Federal Agency obligations-- Bought outright 7,423 618 7,423 Held under repurchase agreements 167 + 99 136 205 Acceptances— # Bought outright 23 6 - 314 19 Held under repurchase agreements 184 + 157 + 166 249 Loans- Total member bank borrowing 295 - Ill + 136 514 Includes seasonal borrowing of: 69 + 13 + 42 63 Other borrowing Float 3,604 -1,385 +1,133 3,711 Other F.R. assets 3,202 - 210 - 885 3,237 Total Reserve Bank credit 112,236 - 987 +8,812 113,755 Gold Stock 11,605 + 7 11,605 Special Drawing Rights certif. acct. 1,200 + 500 1,200 Treasury currency outstanding 11.153 + 489 11.166 136,194 - 985 +9,809 137,726 Currency in circulation 97,135 - 446 +8,058 97,363 Treasury cash holdings 450 6 450 Treasury deposits with F.R. Banks 8,000 +1,217 +1,782 8,616 Foreign deposits with F.R. Banks 256 74 + 6 289 Other deposits with F.R. Banks 4/ 638 - 387 - 405 693 Other F.R. liabilities and capital 3,432 + 104 + 5 3,507 109,911 + 415 +9,440 110,918 Member bank reserves: With Federal Reserve Banks 26,284 -1,399 + 369 26,809 Currency and coin 8,803 + 952 + 648 8,803 Total reserves held £/ ,181 - 447 + 962 35,706 Required reserves ,096 - 219 + 909 1 35,096 Excess reserves5/ 85 - 228 + 53 610 NOTE A net of $119 million of surplus reserves were eligible to be carried forward from the week ended July 20, 1977, into the week ending July 27, 1977 On July 27, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $58,836 million, a decrease, of $732 million for the week. 1/ Net of $1,622 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $1,227 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 1/ Includes $70 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 4/ Includes $9 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 (Atlanta, Chicago and Dallas Districts). ** 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 27, July 20, July 28, 1977** 1977 1976 «f ,Jt £ 1 EL 1 £ Gold certificate account 11,605 — + 7 Special Drawing Rights certif. acct. * 1,200 — + 500 Coin 309 - 43 38 Loans 514 + 292 - -• 162 Acceptances--Bought outright 19 - 6 - 314 Held under repurchase agreements 249 + 63 + 132 Federal Agency obligations--Bought outright 7,423 — + 618 Held uitder repurchase agreements 205 - 268 + 65 U.S. Government securities: Bought outright—Bills 39,498 + 943 +2,902 Certificates Notes 49,088 +3,339 Bond 8 8,248 ^,151 Total bought outright JL/J2/ 96,834 + 943 +8,392 Held under repurchase agreements 1,563 - 964 '1,175 Total U.S. Government securities 98,397 - 21 ±Zx217 Total loans and securities 106,807 + 60 +7,556 Cash-items^in^prpcess of collection (1,977) 9,472 -1,424 +1,472 Bank premises 373 + 1 + 25 Other assets 3/ 2,864 -1,004 - 729 TOTAL ASSETS (1,977) 132,630 -2,410 +8,793 L I A B I L I T I ES Federal Reserve notes 86,955 - 236 +7,546 Deposits: Member bank-reserves account 26,809 -2,024 -1,380 U.S. Treasury--general account 8,616 +1,396 +2,2% Foreign 289 + 42 + 62 Other */ 693 -1,174 - 441 Total deposits 36,407 -1,760 + 537 Deferred availability cash items (1,977) 5,761 - 538 + 726 Other liabilities and accrued dividends 1,047 + 12 - 102 TOTAL LIABILITIES (1,977) 130,170 -2,522 +8,707 C A P I T AL A C C O U N TS Capital paid in 1,006 + 2 + 46 Surplus 983 + 54 Other capital accounts 471 + 110 - 14 Figures in parentheses are the eliminations made in the consolidating process* Estimated (Atlanta, Chicago and Dallas Districts). 1/ Excludes $1,227 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $70 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $9 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. July 27, 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 Loan s Accept securities obligations ances Holdings Weekly Holdings Weekly changes changes Within 15 days 508 258 4,887 - 883 235 - 268 16 days to 90 days 6 9 17,231 + 66 410 + 74 91 days to 1 year 1 28,928 + 796 1,000 - 74 Over 1 year to 5 years 29,652 ... 3,648 — Over 5 years to 10 years 11,233 -- 1,512 — Over 10 years 6,466 — _823 — Total 514 268 98,397 21 7,628 - 268 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 27, 1977 New Phila- Cleve- Rich St. Minne- Kansas San Total Boston York delnhia land 1 mond Atlanta* Chicago* Louis. apolis City *Dallaa Francisc (In millions of dollars) A S S E TS 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. 1,200 60 300 71 103 109 62 190 50 24 42 46 143 Coin 309 12 17 14 44 32 29 25 22 16 41 17 40 Loans 514 87 77 35 2 36 15 64 22 19 36 64 57 Acceptances: Bought outright 19 — 19 — -- -- — -- .- — — -- -- Held under repurchase agreements 249 -- 249 -- — — — — — — — -- -- 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 205 — 205 -- — — -- — -- — — -- — U.S. Government securities: Bought outright— Bills 39,498 1,846 9,323 2,107 3,306 3,148 1,950 6,327 1,676 967 1,585 1,975 5,288 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/ 96,834 4,525 22,856 5,166 8,106 7,717 4,780 15,512 4,109 2,371 3,885 4,842 12,965 Held under repurchase agreements 1,563 -- 1,563 — — — — — — — •-- — — Total U.S. Government securities 98,397 4,525 24,419 5,166 8,106 7,717 4,780 15,512 4,109 2,371 3,885 4,842 12,965 Total loans and securities 110066,,880077 44,,995599 2266,,772211 55,,559977 88,,772299 88,,334455 55,,116611 1166,,776655 44,,444466 22,,557722 44,,221199 55,,227777 14,016 Cash items in process of collection 1111,,444499 331166 11,,995566 331100 556699 11,,775500 11,,005522 11,,446699 442211 550077 11,,001177 665500 1,432 Bank premises 373 110 9 56 24 62 14 16 13 30 18 12 9 Other assets 3,/ 2,864 96 1,157 113 158 158 135 305 84 72 80 94 412 Interdistrict settlement account -0- - 20 - 535 - 438 + 424 - 157 + 354 - 11 - 231 + 82 + 4 + 423 + 105 TOTAL 134,607 6,074 33,004 6,354 10,985 11,281 7,367 20,495 5,274 3,528 5,814 6,975 17,456 * Estimated (Atlanta, Chicago and Dallas Districts). 1/ Excludes $1,227 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $70 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 27, 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 86,955 4,415 22,255 4,701 7,525 7,805 3,410 14,284 3,653 1,834 3,251 3,791 10,031 Deposits: Member bank reserves i 26,809 948 6,416 790 1,774 1,174 1,784 3,489 886 695 1,351 1,891 5,611 U.S. Treasury—general account j 8,616 305 1,802 479 966 470 1,203 1,161 303 447 305 650 525 Foreign 289 8 114 10 20 13 18 35 8 7 10 13 33 Other 2/ 693 1 585 3 1 21 41 6 1 2 11 21 Total deposits 36,407 1,262 8,917 1,282 2,761 1,678 3,046 4,691 1,197 1,150 1,668 2,565 6,190 Deferred availability cash items 7,738 265 960 207 410 1,577 672 991 299 449 755 437 716 Other liabilities and accured dividends 1.047 48 252 52 79 75 65 153 40 25 38 47 173 TOTAL LIABILITIES 113322,,114477 55,,999900 3322,,338844 66,,224422 1100,,777755 1111,,113355 77,,119933 2200,,111199 55,,118899 33,,445588 55,,771122 66,,884400 1177,,111100 CAPITAL ACCOUNTS Capital paid in 11,,000066 3322 225544 4444 8866 5555 7777 115533 3333 3300 4433 5577 114422 Surplus 998833 3355 225511 4433 8844 5544 7755 114488 3333 2299 4411 5555 113355 Other capital accounts 447711 ii 1177 111155 2255 4400 3377 2222 7755 1199 1111 1188 2233 6699 TOTAL LIABILITIES AND 1 CAPITAL ACCOUNTS 134,607 i 6,074 33,004 6,354 10,985 11,281 7,367 20,495 5,274 3,528 5,814 6,975 17,456 FEDERAL RESERVE AGENTS1 ACCOUNTS F.R fc notes outstanding 4,702 23,008 5,135 7,804 8,242 4,531 14,737 3,920 1,943 3,463 4,174 10,921 Collateral for F.R. notes: Gold certificate account 3,378 632 933 982 559 1,736 468 225 393 456 1,298 Special Drawing Rights certif. acct. 300 109 62 50 24 42 46 59 Acceptances U.S. Government securities 19.650 4.600 7.010 7.220 4.000 13.200 3.450 1.810 3.100 3.725 9.700 Total collateral 23,328 5,232 7,943 8,311 4,621 14,936 3,968 2,059 3,535 4,227 11,057 Xf After deducting $175 million participations of othar Faderal Reserve Banks - ^ ^^ voluntarily held * Estimated (Atlanta, Chicago and Dallas Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis