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 August 4, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, August 3, * July 27, August 4, August 3,* 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 96,546 + 207 +7,964 96,842 Held under repurchase agreements 1,754 + 755 - 880 Federal Agency obligations- Bought outright 7,420 - 3 615 7,411 Held under repurchase agreements 189 + 22 114 Acceptances— Bought outright 1 8 -5 309 17 Held under repurchase agreements 288 + 104 57 Loans— Total member bank borrowing 598 + 303 + 441 605 Includes seasonal borrowing of: 69 + 47 76 Other borrowing Float 3,897 + 277 +1 ,447 5,492 Other F.R. assets 3,288 + 87 - 732 3,233 Total Reserve Bank credit 113,999 +1 ,748 +8 ,604 113,600 Gold Stock 11,595 - 10 - 3 11,595 Special Drawing Rights certif. acct. 1,200 + 500 1,200 Treasury currency outstanding 11,169 + 16 + 511 11,175 137,963 +1,754 +9,612 137,570 Currency in circulation ** 97,341 175 +8,115 97,797 Treasury cash holdings ** 446 23 + 3 450 Treasury deposits with F.R. Banks 8,499 499 + 876 7,195 Foreign deposits with F.R. Banks 393 137 + 105 301 Other deposits with F.R. Banks 4/ 687 49 - 336 725 Other F.R. liabilities and capital 3,499 68 + 101 3,184 110,865 951 +8,864 109,652 Member bank reserves: With Federal Reserve Banks 27,098 802 747 27,918 Currency and coin 8,938 135 748 8,938 Total reserves held 5/ 36,128 + 935 +1,437 36,948 Required reserves 35,498 + 402 +1,243 35,498 Excess reserves 5/ 630 + 533 + 194 1,450 NOTE: A net of $45 million of surplus reserves were eligible to be carried forward from the week ended July 27, into the week ending August 3 On August 3, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $60,058 million, an increase of $1,286 million for the week. 1/ Net of $1,516 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $1,220 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions 3/ Includes $253 million securities loaned-fully secured by U.S. Government securities pledged with Federal Reserve Banks ernment 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. F ll 5/ Adjusted to include $92 million waivers of penalties for reserve * r«' t TC,teS ln accordance with Board policy effective November 19 1975 * Estimated (St. Louis and San Francisco 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 Aug. 3, July 27, Aug. 4 A S S E TS 1977 ** 1977 1Q76 Gold certificate account 11,595 - 10 3 Special Drawing Rights certif. acct. * 1,200 -- + 500 Coin 300 - 9 - 51 Loans 605 + 91 - 165 Acceptances--Bought outright 17 - 2 - 303 Held under repurchase agreements -- - 249 - 479 Federal Agency obligations—Bought outright 7,411 - 12 + 606 Held under repurchase agreements -. - 205 - 166 U.S. Government securities: Bought outright—Bills 39,506 +2,816 Certificates Notes 49,088 +3,339 Bonds 8,248 +2,151 Total bought outright JL/V2/ 96,842 + 8 +8,306 Held under repurchase agreements -1 563 -4,755 Total U.S. Government securities 96,842 -1, 555 +3,551 Total loans and securities 104,875 -1 ,932 +3,044 Cash items in process of collection (2,154) 11,460 +2 ,035 +2,321 Bank premises 375 + 2 + 28 Other assets 3_/ 2,858 - 1 - 883 TOTAL ASSETS (2,154) 132,663 + 85 +4,956 L I A B I L I T I ES Federal Reserve notes 87,372 + 387 +7,599 Deposits: Member bank-reserves account 27,918 +1,109 -4,144 U.S. Treasury-general account 7,195 -1,421 +1,339 Foreign 301 + 12 + 37 Other kj 725 + 26 - 338 Total deposits 36 ,139 - 274 -3, 106 Deferred availability cash items (2,154) 5 ,968 + 283 + 425 Other liabilities and accrued dividends 1 ,051 + 20 - 112 TOTAL LIABILITIES (2,154) 130,530 416 +4,806 C A P I T AL A C C O U N T S. Capital paid in 1,006 + 47 Surplus 983 + 54 Other capital accounts 144 331 + 49 Figures in parentheses are the eliminations made in the consolidating process. Estimated (St. Louis and San Francisco Districts). 1/ Excludes $1,220 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $253 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. August 3, 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 chang€:s Within 15 days 3oT~ "IT 4,016 871 - 235 16 days to 90 days 38 6 16,700 - 531 452 + 42 91 days to 1 year 28,948 + 20 976 - 24 Over 1 year to 5 years 29,479 - 173 3,648 Over 5 years to 10 years 11,233 1,512 Over 10 years 6,466 -,- 823 Total 605 17 96,842 -1,555 7,411 - 217 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 August 3, 1977 New Phila Cleve Rich St.* Minne Kansas San * Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisc (In millions of dollars) A S S E TS Gold certificate account 11,595 541 3,369 631 934 982 560 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 300 11 17 13 43 32 28 23 22 15 40 16 40 Loans 605 51 64 30 4 74 9 217 30 23 40 23 40 Acceptances: Bought outright 17 -- 17 -- -- — -- -- -- -- -- -- -- Held under repurchase agreements -- -- -- -- "- -- -- ~~ -- -- ~~ -- -- Federal Agency obligations— Bought outright 7,411 346 1,749 395 620 591 366 1,187 315 182 297 371 992 Held under repurchase agreements -- -- -- -" **•- -" -- ""• -- "- -- -- ._ U.S. Government securities: Bought outright— Bills 39,506 1,846 9,324 2,108 3,306 3,149 1,951 6,329 1,677 967 1,585 1,975 5,289 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 UV 96,842 4,525 22,857 5,167 8,106 7,718 4,781 15,514 4,110 2,371 3,885 4,842 12,966 HHeelldd uunnddeerr rreeppuurrcchhaassee aaggrreeeemmeennttss -- i - - _- -- -- -- -- -- -- -- -- -- ~- TToottaall UU SS GGoovveerrnnmmeenntt sseeccuurriittiieess 96,842 4,525 22,857 5,167 8,106 7,718 4,781 15,514 4,110 2,371 3,885 4,842 12,966 Total loans and securities 104,875 4,922 24,687 5,592 8,730 8,383 5,156 16,918 4,455 2,576 4,222 5,236 13,998 CCCaaassshhh iiittteeemmmsss iiinnn ppprrroooccceeessssss ooofff cccooolllllleeeccctttiiiooonnn 13,614 366 2,420 301 583 1,920 1,378 1,441 450 501 1,035 823 2,396 BBBaaannnkkk ppprrreeemmmiiissseeesss 375 111 9 56 24 62 14 16 13 30 19 12 9 OOOttthhheeerrr aaasssssseeetttsss ^^^JJJ 2,858 101 1,168 112 161 168 144 312 87 52 79 99 375 IIInnnttteeerrrdddiiissstttrrriiicccttt ssseeettttttllleeemmmeeennnttt aaaccccccooouuunnnttt -0- + 18 +1,450 - 449 + 737 + 193 - 435 - 984 - 83 7 + 106 + 54 - 600 TTTOOOTTTAAALLL 134,817 6,130 33,420 6,327 11,315 11,849 6,907 19,652 5,463 3,416 5,936 6,742 17,660 * Estimated (St. Louis and San Francisco Districts). .1/ Excludes $1,220 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. j2/ Includes $253 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 AUGUST 3, 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 87,372 4,426 22,372 4,719 7,570 7,836 3,433 14,362 3,674 1,833 3,267 3,808 10,072 Deposits: Member bank reserves 27,918 859 7,041 760 2,140 1,492 1,784 3,557 855 663 1,260 1,923 5,584 U.S. Treasury--general account 7,195 420 1,465 458 925 671 506 462 491 409 367 371 650 Foreign 301 8 1/ 126 10 20 13 18 35 8 7 10 13 33 Other 2/ 725 1 605 20 2 19 41 4 1 1 1 10 20 Total deposits 36,139 1,288 9,237 1,248 3,087 2,195 2,349 4,058 1,355 1,080 1,638 2,317 6,287 Deferred availability cash items 8,122 301 1,059 217 405 1,631 916 771 305 417 906 454 740 Other liabilities and accured dividends 1,051 47 232 50 77 73 52 148 42 24 36 46 224 TOTAL LIABILITIES 132,684 6,062 32,900 6,234 11,139 11,735 6,750 19,339 5,376 3,354 5,847 6,625 17,323 CAPITAL ACCOUNTS Capital paid in 1,006 32 254 44 86 55 77 153 33 30 43 57 142 Surplus 983 35 251 43 84 54 75 148 33 29 41 55 135 Other capital accounts 144 1 15 6 6 5 5 12 21 3 5 5 60 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 134,817 6,130 33,420 6,327 11,315 11,849 6,907 19,652 5,463 3,416 5,936 6,742 17,660 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 92,652 4,707 23,073 5,140 7,814 8,217 4,496 14,812 3,911 1,934 3,468 4,161 10,919 Collateral for F.R. notes: Gold certificate account 11,591 541 3,368 632 933 982 559 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 81.585 4,120 19,650 4,600 7,010 7,220 4,000 13,200 3,450 1,810 3,100 3,725 9,700 Total collateral 93,928 4,721 23,318 5,232 7,94.3 8,311 4,621 14,936 3,968 2,059 3,535 4,227 11,057 1/ After deducting $175 million participations of other Federal Reserve Banks. 2/ Include $9 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. * Estimated (St. Louis and San Francisco Districts) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis