H.4.1 Factors Affecting Reserve Balances of Depository Institutions

• ojcow.-. FEDERAL RESERVE Factors Affecting Bank Reserves and '•f*4LK&: Condition Statement of F.R. Banks For immediate release September 8, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Sept. 7,* Aug. 31, Sept. 8 Sept. 7,* 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 94,226 -2,246 +3,727 91,486 Held under repurchase agreements - 154 - 107 Federal Agency obligations-- Bought outright 7,354 18 + 576 7,354 Held under repurchase agreements 22 4 Acceptances-- Bought outright 4 -1 253 Held under repurchase agreements 18 9 Loans-- Total member bank borrowing 637 - 755 592 571 Includes seasonal borrowing of: 114 - 17 85 97 Other borrowing Float 3,604 4- 727 +1,163 3,539 Other F.R. assets 2,494 + 25 -1,011 2,543 Total Reserve Bank credit 108,317 -2,464 +4,672 105,497 Gold Stock 11,595 3 11,595 Special Drawing Rights certif. acct. 1,200 + 500 1,200 Treasury currency outstanding 11,211 + 4 + 491 11,213 132,323 -2,460 +5,660 129,505 Currency in circulation 98,209 + 739 +8,292 98,905 ** Treasury cash holdings 450 + 31 450 Treasury deposits with F.R. Banks 3,687 -2,166 -3,048 4,841 Foreign deposits with F.R. Banks 390 + 23 + 123 475 Other deposits with F.R. Banks 4/ 643 + 39 - 419 721 Other F.R. liabilities and capital 3,172 - 369 + 77. 3,108 106,550 -1,734 +5,055 108,500 Member bank reserves: With Federal Reserve Banks 25,773 - 726 605 21,005 Currency and coin 8,941 177 699 8,941 Total reserves held 5/ 34,808 - 548 +1,244 30 040 Required reserves 34,567 - 402 +1,276 34 567 Excess reserves 5/ 241 - 146 32 -4 527 NOTE: A net of $177 million of surplus reserves were eligible to be carried forward from the week ended August 31, into the week ending September 7. On September 7, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $62,176 million, an increase of $1,459 million for the week. 1/ Net of $3,869 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $6,609 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 37 Includes $93 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 $94 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19 1975. * Estimated (Cleveland 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 Sept. 7,** Aug. 31, Sept. £ 197} 1977 1976 AS S E TS Gold certiMc^je account 11,595 _- 3 Special f&rawWg Rights cert if. acct. 1,200 -- + 500 Coin 274 10 76 Loans 571 - 696 + 531 Acceptances--Bought outright 4 -- - 254 Held under repurchase agreements -- - 127 - 63 Federal Agency obligations—Bought outright 7,354 -- + 576 Held under repurchase agreements -- - 151 25 U.S. Government securities: Bought outright—Bills 34,150 -5,871 -3,066 Certificates Notes 48,963 +3,048 Bonds 8,373 +1,962 Total bought outright 1/2/ 91,486 -5,871 +1,944 Held under repurchase agreements -1,079 - 753 Total U.S. Government securities 91,486 -6,950 +1,191 Total loans and securities 99,415 -7,924 +1,956 Cash items in process of collection (1,729) 10,484 + 962 +1,769 Bank premises 376 1 + 24 Other assets 3/ 2,167 + 82 -M03 TOTAL ASSETS (1,729) 125,511 -6,891 +3,067 L I A B I L I T I ES Federal Reserve notes 88,416 + 910 +7,794 Deposits: Member bank-reserves account 21,005 -7,066 -7,143 U.S. Treasury-general account 4,841 -1,274 +1,420 Foreign 475 60 + 183 Other _4/ 721 + 42 - 246 Total deposits 27, 042 -8,358 -5, 786 Deferred availability cash items (1,729) 6 ,945 +1,072 + 1 ,074 Other liabilities and accrued dividends 974 - 115 - 91 TOTAL LIABILITIES (1,729) 123,377 -6,491 +2,991 C A P I T AL A C C O U N TS Capital paid in 1,013 + 2 + 48 Surplus 983 -.. + 54 Other capital accounts 138 - 402 - 26 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $6,609 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $93 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. ** Estimated (Cleveland District). MATURITY DISTRIBUTION: OF LOANS AND SECURITIES, SEPTEMBER 7, 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 IWeekly | Holdings Weekly [changes j ! changes Within 15 days 501 3,807 - 182 125 -180 16 days to 90 days 70 12,416 -6,465 272 + 6 3 91 days to 1 year 30,471 - 303 881 - 34 Over 1 year to 5 years 27,750 .- 3,711 -- Over 5 years to 10 years 10,451 ._ 1,542 __ Over 10 years 63391 — 823 — Total 571 91,486 -6,950 \354 •151 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 SEPTEMBER 7, 1977 New Phila- *Cleve- Rich ~s£ Minne- Kansas San Total Boston York delphia land 1 mond Atlanta Chicago Louis apolis Citv Dallas Francisco (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 274 11 16 13 40 30 27 20 20 13 40 13 31 Loans 571 .13 237 30 1 14 71 58 21 17 61 28 20 Acceptances: Bought outright 4 -- 4 -- -- -- - -- — — — — — Held under repurchase agreements -- -- -- -- -- -- -- — -- — -- -- -- 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 -- -- -- -- — -- — — — — — — — U.S. Government securities: Bought outright— Bills 34,150 1,596 8,060 1,822 2,859 2,722 1,686 5,471 1,449 836 1,370 1,707 4,572 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 1/2/ 91,486 4,275 21,593 4,881 7,658 7,292 4,516 14,656 3,882 2,240 3,670 4,574 12,249 Held under repurchase agreements -- -- -- -- -- -- — -- -- -- -- — •'-- Total U.S. Government securities 91,486 4,275 21,593 4,881 7,658 7,292 4,516 14,656 3,882 2,240 3,670 4,574 12,249 Total loans and securities 99,415 4,632 23,570 5,303 8,274 7,892 4,950 15,892 4,215 2,437 4,026 4,970 13,254 Cash items in process of collection 12,213 397 1,972 300 596 2,105 1,416 1,366 443 492 955 795 1,376 Bank premises 376 111 10 56 24 64 14 16 12 30 18 12 9 Other assets 2/ 2,167 70 994 80 110 129 100 204 60 44 57 70 249 Interdistrict settlement account -0- - 179 +1,143 + 130 88 + 252 - 794 • 154 - 287 - 160 - 141 - 137 + 415 TOTAL 127,240 5,643 31,374 6,584 9,993 11,563 6,335 19,270 4,982 3,105 5,390 , ,6,225 16,776 \J Excludes $6,609 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $93 million securities loaned--fully secured by U.S, Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Estimated (Cleveland District). 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 SEPTEMBER 7, 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 E S. Federal Reserve notes 88,416 4,414 22,736 4,725 7,638 7,945 3,385 14,620 3,694 1,853 3,220 3,853 10,333 Deposits: Member bank reserves 21,005 647 4,578 769 1,346 1,111 1,387 2,888 687 552 1,029 1,543 4,468 U.S. Treasury—general account 4,841 120 1,319 711 370 459 290 444 146 151 202 130 499 Foreign 475 9 1/ 299 10 20 13 18 35 8 7 10 13 33 Other 2/ 721 1 601 2 1 19 47 6 3 2 1 26 12 Total deposits 27,042 777 6,797 11,,449922 11,,773377 11,,660022 11,,774422 33,,337733 884444 771122 11,,224422 11,,771122 5,012 Deferred availability cash items 8,674 343 1,073 222244 335577 11,,882255 999977 880022 333355 445544 880011 448833 980 Other liabilities and accured dividends 974 39 227 4499 8800 7733 5511 115500 3388 2244 3377 5566 150 TOTAL LIABILITIES 125,106 5,573 30,833 66,,449900 99,,881122 1111,,444455 66,,117755 1188,,994455 44,,991111 33,,004433 55,,330000 66,,110044 16,475 CAPITAL ACCOUNTS Capital paid in 1,013 32 258 4444 8866 5555 7777 115544 3333 3300 4433 5588 143 Surplus 983 35 251 4433 8844 5544 7755 114488 3333 2299 4411 5555 135 Other capital accounts 138 3 32 77 1111 99 88 2233 55 33 66 88 23 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 127,240 5,643 31,374 6,584 9,993 11,563 6,335 19,270 4,982 3,105 5,390 6,225 16,776 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 93,571 4,681 23,324 5,164 7,902 8,284 4,472 15,082 3,906 1,948 3,488 4,193 11,127 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. 855 60 300 -- 103 109 62 -- 50 24 42 46 59 Acceptances -- -- -- -- — -- -- -- -- -- -- -- -- U.S. Government securities 82,185 4,120 19,750 4,600 7,010 7,270 4,000 13,400 3,500 1,810 3,100 3,725 9,900 Total collateral 94,631 4,721 23,418 5,232 8,046 8,361 4,621 15,136 4,018 2,059 3,535 4,227 11,257 --""•• mm,,rr ii**''ii 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. * Estimated (Cleveland District), Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis