H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and •.f^RES^ Condition Statement of F.R. Banks H.4.1 For immediate release September 15, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Sept. 14,* Sept. 7, Sept. 15, Sept. 14,* and related items 1977 1977 1976 1977 Reserve Bank credit: 7/ (In millions of dollars) 2/ 3/ U.S. Government securities-- Bought outright—System account 94,059 - 167 +6,884 95,300 Held under repurchase agreements 688 + 688 + 688 814 Federal Agency obligations-- Bought outright 7,343 11 + 583 7,329 Held under repurchase agreements 23 + 23 + 23 41 Acceptances— Bought outright 4 - 249 4 Held under repurchase agreements 70 + 70 + 70 146 Loans-- Total member bank borrowing 337 - 300 + 276 359 Includes seasonal borrowing of: 108 6 + 80 97 Other borrowing Float 4,009 + 387 + 542 5 ,036 Other F.R. assets 2,618 + 124 -1, 091 2 ,683 Total Reserve Bank credit 109,150 + 815 +7, 724 111, 712 Gold Stock 11,595 - 3 11 595 Special Drawing Rights certif. acct. 1,200 + 500 1 200 Treasury currency outstanding 11,225 + 14 + 490 11 227 133,170 + 829 +8,711 135,734 Currency in circulation ** 98,696 + 487 +8,341 98,760 Treasury cash holdings ** 450 40 450 Treasury deposits with F.R. Banks 3,842 + 155 74 3,989 Foreign deposits with F.R. Banks 464 + 74 202 324 Other deposits with F.R. Banks 4/ 661 + 18 536 616 Other F.R. liabilities and capiFal 3,312 + 140 106 3,338 107,425 + 874 +8,227 107,477 Member bank reserves: With Federal Reserve Banks 25,745 . 45 484 28,257 Currency and coin 9,258 + 317 844 9,258 Total reserves held5/ 35,097 + 272 +1,262 37,609 Required reserves ~~ 34,730 + 163 +1,154 34,730 Excess reserves5/ 367 + 109 + 108 2,879 NOTE A net of $82 million of surplus reserves were eligible to be carried forward from the week ended September 7, into the week ending September 14. On September 14, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $62,287 million, an increase of $111 million for the week. 1/ Net of $4,101 million, daily average, matched sale-purchase transactions out standing during the statement week. 27 Excludes $3,091 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $106 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 4/ Includes $13 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 (Treasury1s 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 RESI ERVE BANKS (In millions of dollars) Wednesday Change since Sept. 14, Sept. 7, Sept . 15, 1977** 1977 1976 A S S E TS Gold certificate account 11,595 -- - 3 Special Drawing Rights certif. acct. 1,200 -- + 500 Coin 281 + 7 - 79 Loans 359 - 212 + 192 Acceptances—Bought outright 4 -- - 241 Held under repurchase agreements 146 + 146 + 146 Federal Agency obligations—Bought outright 7,329 - 25 + 572 Held under repurchase agreements 41 + 41 + 41 U.S. Government securities: Bought outright—Bills 37,964 +3,814 + 3,041 Certificates Notes 48,963 + 3,048 Bonds 8 ,373 + 1,962 Total bought outright J./2/ 95, 300 +3,814 + 8,051 Held under repurchase agreements 814 + 814 + 814 Total U.S. Government securities 96 J. 14 +4,628 + 8,865 Total loans and securities 103,993 +4,578 + 9,575 Cash items in process of collection (2,498) 11,563 + 996 + 1,066 Bank premises 376 + 23 Other assets \J 2,307 140 927 TOTAL ASSETS (2,498) 131,315 +5,721 +10,155 L I A B I L I T I ES Federal Reserve notes 88,264 - 159 + 7,879 Deposits: Member bank-reserves account 28,257 +7,252 + 4,102 U.S. Treasury—general account 3,989 - 852 - 1,695 Foreign 324 - 151 3 Other */ 616 - 105 - 496 Total deposits 33,186 +6,144 + 1,908 Deferred availability cash items (2,498) 6,527 - 494 + 313 Other liabilities and accrued dividends 1,091 + 117 26 TOTAL LIABILITIES (2,498) 129,068 +5,608 +10,074 C A P I T AL A C C O U N T S. Capital paid in 1,013 + 48 Surplus 983 + 54 Other capital accounts 251 + 113 21 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (Cleveland District). 1/ Excludes $3,091 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $106 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. J3/ Includes assets denominated in foreign currencies. 4/ Includes $13 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, September 14, 1977 (Acceptances and securities held under repurchase agreements are classified an 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 294 146 4,552 + 745 41 8h 16 days to 90 days 65 4 17,211 +4,795 371 99 91 days to 1 year 29,559 - 912 893 12 Over 1 year to 5 years 27,750 - 3,679 32 Over 5 years to 10 years 10,451 -- 1,563 21 Over 10 years 6,591 — 823 Total 359 150 96,114 +4,628 7,370 + 1(. 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 14, 1977 New Phila .Cleve- Rich St. Minne Kansas San Total Boston York delphia * land mond Atlanta Ghicaeo 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 281 12 18 12 41 30 27 20 21 13 42 13 32 Loans 359 30 28 16 1 30 76 49 26 16 57 30 — Acceptances: Bought outright 4 4 Held under repurchase agreements 146 146 Federal Agency obligations— Bought outright 7,329 343 1,730 391 614 584 362 1,174 311 179 294 366 981 Held under repurchase agreements 41 41 U.S. Government securities: Bought outright-- Bills 37,964 1,774 8,960 2,025 3,178 3,026 1,875 6,082 1,611 929 1,523 1,898 5,083 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 TToottaall bboouugghhtt oouuttrriiggjjhhtt JJ7722// 95,300 4,453 22,493 5,084 7,977 7,596 4,705 15,267 4,044 2,333 3,823 4,765 12,760 HHeelldd uunnddeerr rreeppuurrcchhaassee aaggrreeeemmeennttss 814 814 TToottaall UU..SS.. GGoovveerrnnmmeenntt sseeccuurriittiieess 96,114 4,453 23,307 5,084 7,977 7,596 4,705 15,267 4,044 2,333 3,823 4,765 12,760 Total loans and securities 103,993 4,826 25,256 5,491 8,592 8,210 5,143 16,490 4,381 2,528 4,174 5,161 13,741 Cash items in process of collection 14,061 318 2,230 348 612 2,207 1,281 1,663 582 547 1,105 745 2,423 Bank premises 376 111 10 56 23 64 14 16 13 30 18 12 9 Other assets 2/ 2,307 71 995 82 no 189 106 211 62 44 58 67 312 Interdistrict settlement account -0- - 150 + 981 - 136 - 39 - 113 - 870 + 150 - 437 - 223 - 178 + 345 + 670 TOTAL 133,813 5,789 33,159 6,555 10,376 11,678 6,323 20,476 5,141 3,188 5,654 6,845 18,629 * Estimated (Cleveland District). 1/ Excludes $3,091 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $106 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 SEPTEMBER 14, 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 88,264 4,426 22,686 4,705 7,691 7,892 3,324 14,661 3,676 1,853 3,210 3,838 10,302 Deposits: Member bank reserves 28,257 754 7,141 1,084 1,541 1,321 1,607 3,910 814 639 ljU5 2,063 6,238 U.S. Treasury—general account 3,989 182 623 373 432 277 234 514 156 153 262 276 507 Foreign 324 9 1/ 148 10 20 13 18 35 8 7 10 13 33 Other 2/ 616 1 520 1 1 20 45 5 1 1 1 9 11 Total deposits 33,186 946 8,432 1,468 1,994 1,631 1,904 4,464 979 800 1,418 2,361 6,789 Deferred availability cash items 9,025 297 1,233 232 415 1,875 873 857 371 445 890 474 1,063 Other liabilities and accured dividends 1,091 46 239 50 85 153 57 150 39 25 41 45 161 TOTAL LIABILITIES 131,566 5,715 32,590 6,455 10,185 11,551 6,158 20,132 5,065 3,123 5,559 6,718 18,315 ' CAPITAL ACCOUNTS i Capital paid in j 1,013 32 258 44 86 55 77 154 33 30 43 58 143 Surplus 983 35 251 43 84 54 75 148 33 29 41 55 135 Other capital accounts J 251 7 60 13 21 18 13 42 10 6 11 14 36 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 133,813 5,789 33,159 6,555 10,376 LI,678 6,323 20,476 5,141 3,188 5,654 6,845 18,629 FEDERAL RESERVE AGENTS* ACCOUNTS F.R. notes outstanding 93,753 4,697 23,406 5,158 7,946 8,302 4,437 15,112 3,909 1,950 3,505 4,192 11,139 Collateral for F.R. notes: Gold certificate account 11,590 541 3,368 631 933 982 559 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 82,536 4,120 19,850 4,601 7,010 >,270 4,000 13,600 3,500 1,810 3,100 3,775 9,900 Total collateral 94,981 4,721 23,518 5,232 8,046 8,361 4,621 15,336 4,018 2,059 3,535 4,277 11,257 1/ After deducting $176 million partic ipations o £ other federal Reserve Banks 2/ Includes $13 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