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 September 1, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, August 31, Aug. 24 1 Sept. 1, August 31, and related items 1977 1977 1 1976 1977 Reserve Bank credit: 1/ (In millions of dollars) 2/ 3/ U.S. Government securities-- Bought outright—System account 96,472 +310 +6,047 ! 97,357 Held under repurchase agreements 154 +154 -3,179 1,079 Federal Agency obligations-- Bought outright 7,372 - 39 + 594 7,354 Held under repurchase agreements 22 + 22 97 151 Acceptances-- Bought outright 5 - 1 - 260 4 Held under repurchase agreements 18 + 18 - 487 127 Loans-- Total member bank borrowing 1,392 -273 +1,299 1,267 Includes seasonal borrowing of: 131 + 15 + 99 114 Other borrowing Float 2,869 -738 + 296 3,649 Other F.R. assets 2,469 + 83 -1,188 2,462 Total Reserve Bank credit 110,773 -464 +3,025 113,450 Gold Stock 11,595 — 3 11,595 Special Drawing Rights certif. acct. 1,200 .- + 500 1,200 Treasury currency outstanding 11,207 + 11 + 505 11,210 134,775 -453 +4,029 137,455 Currency in circulation * 97,470 -249 +8,197 97,982 Treasury cash holdings * 450 + 16 + 27 450 Treasury deposits with F.R. Banks 5,853 -418 -4,273 6,115 Foreign deposits with F.R. Banks 367 + 42 + 108 535 Other deposits with F.R. Banks 4/ 604 + 5 - 641 679 Other F.R. liabilities and capital 3,541 +172 + 3 3,623 108,284 -433 +3,420 109,384 Member bank reserves: With Federal Reserve Banks 26,491 - 20 + 607 28,071 Currency and coin 8,764 +542 + 747 8,764 Total reserves held 5/ 35,348 +522 +1,296 36,928 Required reserves 34,969 +180 +1,207 j 34,969 Excess reserves 5/ 379 +342 + 89 1,959 NOTE: A net of $20 million of surplus reserves were eligible to be carried forward from the week ended August 24, into the week ending August 31. On August 31, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $60,717 million, an increase of $361 million for the week. 1/ Net of $1,915 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $1,341 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $100 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 4/ Includes $11 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 $93 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * 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 August 31, August 24, September 1, A S S E TS 1977 1977 1976 , Gold certificate account 11,595 -- - 3 Special Drawing Rights certif. acct. * 1,200 — + 500 Coin 284 9 - 78 Loans 1,267 -1,056 + 996 Acceptances--Bought outright 4 2 - 254 Held under repurchase agreements 127 + 127 - 483 Federal Agency obligations--Bought outright 7,354 - 57 + 576 Held under repurchase agreements 151 4- 151 - 69 U.S. Government securities: Bought outright—Bills 40,021 +2,526 +2,717 Certificates Notes 48,963 +3,048 Bonds 8,373 +1,962 Total bought outright 1/2/ 97,357 +2,526 +7,727 Held under repurchase agreements 1,079 +1,079 -4,575 Total U.S. Government securities 98,436 +3,605 +3,152 Total loans and securities 107,339 +2,768 +3,918 Cash items in process of collection (1,832) 9,522 + 785 + 981 Bank premises 377 + 2 + 27 Other assets 3/ 2,085 + 72 -2,093 TOTAL ASSETS (1,832) 132,402 +3,618 +3,252 L I A B I L I T I ES Federal Reserve notes 87,506 + 207 +7,764 Deposits: Member bank-reserves account 28,071 +3,107 - 170 6,115 - 447 -3,844 U.S. Treasury--general account 535 + 184 + 319 Foreign Other kj 679 + 147 -1,548 35,400 +2,991 -5,243 Total deposits (1,832) 5,873 + 232 + 518 Deferred availability cash items 1,089 + 70 + 52 Other liabilities and accrued dividends (1,832) 129,868 +3,500 +3,091 TOTAL LIABILITIES C A P I T AL A C C O U N T S. 1,011 •>_ + 46 Capital paid in 983 -- + 54 Surplus 540 + 118 + 61 Other capital accounts * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $1,341 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $100 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $11 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 31, 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 1,224 TTT 3,989 +2,257 305 +119 16 days to 90 days 43 4 18,881 +1,152 209 - 58 91 days to 1 year 30,774 + 246 915 - 64 Over 1 year to 5 years 27,750 - 50 3,711 + 67 Over 5 years to 10 years 10,451 — 1,542 + 30 Over 10 years 6,591 823 ^ zz Total 1,267 131 98,436 +3,605 7,505 + 94 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 31, 1977 New Phila- Cleve- Rich St. Minne- Kansas San Total Boston York delphia land | mond _A_t_l_a nta Chicago Louis apolis City Dallas Francisco. (In millions of dollars) A S S E TS •* Gold certificate account i 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 284 11 18 13 41 31 28 20 20 14 42 13 33 Loans 1,267 i 171 128 170 9 247 143 66 57 19 77 131 49 Acceptances: Bought outright 4 1 4 -- -- -- -- -- -- -- -» -- — Held under repurchase agreements 127 1 127 -- -- -_ __ -- -- -_ _- -- Federal Agency obligations— Bought outright 7,354 344 1,736 392 615 586 363 1,178 312 180 295 368 985 Held under repurchase agreements 151 -- 151 — -- -- — -- — -- -- -- -- U.S. Government securities: Bought outright— Bills 40,021 1,870 9,446 2,135 3,350 3,189 1,976 6,411 1,699 980 1,606 2,001 5,358 Certificates -- -- — -- -- — -- __ — — — -- •-- Notes 48,963 2,288 11,557 2,612 4,098 3,902 2,417 7,844 2,078 1,199 1,964 2,448 6,556 Bonds 8,373 391 1,976 447 701 668 413 1,341 355 205 336 419 1,121 Total bought outright J./2/ 97,357 4,549 22,979 5,194 8,149 7,759 4,806 15,596 4,132 2,384 3,906 4,868 13,035 Held under repurchase agreements j 1,079 — 1,079 -- -. -- -- -- -. ._ -- -- -- Total U.S. Government securities j 98,436 4,549 24,058 5,194 8,149 7,759 4,806 15,596 4,132 2,384 3,906 4,868 13,035 Total loans and securities 107,339 5,064 26,204 5,756 8,773 8,592 5,312 16,840 4,501 2,583 4,278 5,367 14,069 Cash items in process of collection 11,354 292 2,000 319 519 1,767 1,173 1,363 438 514 989 680 1,300 Bank premises 377 111 10 56 25 64 14 16 12 30 18 12 9 Other assets 3/ 2,085 61 963 80 99 105 96 188 56 41 51 60 285 Interdistrict settlement account -o- + 82 + 556 - 352 - 245 - 201 - 476 + 477 - 348 - 93 + 146 •f 112 •f 342 1 TOTAL 1 134,234 6,222 33,420 6,574 10,249 11,449 6,769 20,830 5,198 3,338 5,959 6,746 17,480 \J Excludes $1,341 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $100 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. J3/ 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 31, 1977 New Phila Cleve Rich St. 1Minne 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 87,506 4,387 22,502 4,689 7,584 7,859 3,333 14,471 3,647 1,846 3,192 3,829 10,167 Deposits: Member bank reserves 28,071 1,048 6,976 990 1,509 1,338 1,826 4,465 800 730 1,319 1,860 5,210 U.S. Treasury—general account 6,115 407 1,105 528 469 497 506 486 313 252 461 356 735 Foreign 535 8 H 360 10 20 13 18 35 8 7 10 13 33 Other 2/ 679 1 523 3 2 11 40 69 1 1 2 12 14 Total deposits 35,400 1,464 8,964 1,531 2,000 1,859 2,390 5,055 1,122 990 1,792 2,241 5,992 Deferred availability cash items 7,705 235 1,067 185 369 1,506 795 763 302 406 830 489 758 Other liabilities and accured dividends 1,089 48 253 52 80 75 74 153 40 24 39 47 204 TOTAL LIABILITIES 131,700 6,134 32,786 6,457 10,033 11,299 6,592 20,442 5,111 3,266 5,853 6,606 17,121 CAPITAL ACCOUNTS Capital paid in 1,011 32 257 44 86 55 77 154 33 30 43 58 142 Surplus 983 35 251 43 84 54 75 148 33 29 41 55 135 Other capital accounts 540 21 126 30 46 41 25 86 21 13 22 27 82 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 134,234 6,222 33,420 6,574 10,249 11,449 6,769 20,830 5,198 3,338 5,959 6,746 17,480 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 93,289 4,677 23,210 5,172 7,883 8,262 4,491 15,013 3,924 1,955 3,471 4,189 11,042 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 82,135 4,120 19,750 4,600 7,010 7,220 4,000 13,400 3,500 1,810 3,100 3,725 9,900 Total collateral 94,478 4,721 23,418 5,232 7,943 8,311 4,621 15,136 4,018 2,059 3,535 4,227 11,257 2/ Includes $11 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis