H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and *-.fSf5*;"* Condition Statement of F.R. Banks H.4.1 For immediate release September 22, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Sept. 21, Sept. 14, 1 Sept. 22, j Sept. 21, and related items 1977 * 1977 1976 1977 * Reserve Bank credit: 1/ (In millions of <i ollars) 2/3/ ILS. Government securities- Bought outright—System account 96,723 +2,664 +6,394 96,878 Held under repurchase agreements — - 688 -2,479 , Federal Agency obligations— Bought outright 7,329 - 14 + 572 7,329 Held under repurchase agreements — 23 - 64 — Acceptances- Bought outright 4 -_ - 228 4 Held under repurchase agreements — 70 - 318 ! Loans- Total member bank borrowing 737 + 400 + 693 2,696 Includes seasonal borrowing of:: 110 + 2 + 81 104 Other borrowing Float 4,292 + 264 +1,161 4,027 Other F.R. assets 2,901 4- 283 - 792 2,696 Total Reserve Bank credit 111,985 +2,816 +4,939 | 113,630 Gold Stock 11,595 3 11,595 Special Drawing Eights certif. acct l s 200 -- + 500 1,200 Treasury currency outstanding 11,229 + 4 + 488 11,231 136,009 +2,820 +5,924 137,656 Currency in circulation ** 98,137 - 556 +8,289 98,075 Treasury cash holdings ** 450 — 10 450 Treasury deposits with F.R. Banks 6,188 +2,346 -3,128 9,803 Foreign deposits with F.R. Banks 283 - 181 + 54 249 Other deposits with F.R. Banks 4/ 733 + 72 - 220 757 Other F.R. liabilities and capital 3,545 + 234 + 174 3,395 109,335 +1,914 +5,158 112,729 Member bank reserves: With Federal Reserve Banks 26,674 + 906 + 766 24,927 Currency and coin 8,189 -1,069 + 761 8,189 Total reserves heldS/ 34,952 - 168 +1,456 33,205 Required reserves 34,928 + 198 +1,474 34,928 Excess reserves5/ 24 - 366 18 -1,723 HOTE: A net of $153 million of surplus reserves were eligible to be carried forward from the week ended September 14, into the week ending September 21. On September 21, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $62,911 million, an increase of $624 million for the week. 17 Net of $1,938 million, daily average, matched sale-purchase transactions outstanding during the statement week. Ij Excludes $2,066 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $171 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 $89 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (San Francisco 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. 21, Sept. 14, Sept. 22, A S S E TS 1977** 1977 1976 , Gold.^certificate account 11,595 -- 3 Special Drawing Rights certif. acct. * 1,200 ..- + 500 Coin 291 + 10 - 69 Loans 2,696 +2,337 +2,644 Acceptances—Bought outright 4 -_ - 221 Held under repurchase agreements — - 146 - 201 Federal Agency obligations—Bought outright 7,329 -. + 572 Held under repurchase agreements — - 41 70 U.S. Government securities: Bought outright— Bills 39,041 +1,077 336 Certificates Notes 49,423 + 460 +2,941 Bond 8 8,414 + 41 +1,949 Total bought outright 1/2/ 96,878 +1,578 +5,226 Held under repurchase agreements — -- 881144 -2,884 Total U.S. Government securities 96,878 ++ 776644 +2,342 Total loans and securities 106,907 +2,914 +5,066 Cash items in process of collection (2,220) 10,678 - 800 +1,812 Bank premises 378 + 2 + 25 Other assets J/ 2,318 + 11 - 998 TOTAL ASSETS (2,220) 133,367 +2,137 +6,333 L I A B I L I T I ES Federal Reserve notes 87,585 - 656 +7,724 Deposits: Member bank-reserves account 24,927 -3,330 -1,410 U.S. Treasury—general account 9,803 +5,814 -1,038 Foreign 249 75 + 19 Other if 757 + 141 - 120 Total deposits 35,736 +2,550 -2,549 Deferred availability cash items (2*220) 6,651 + 180 + 1,126 Other liabilities and accrued dividends 1,031 - 54 - 50 TOTAL LIABILITIES (2,220) 131,003 +2,020 +6,251 C A P I T AL A C C O U N TS Capital paid in 1,012 1 + 47 Surplus 983 -- + 54 Other capital accounts 369 + 118 19 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (San Francisco District). JL/ Excludes $2,066 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $171 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ 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 21, 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 8 Accept securities obligations ances Holdings Weekly Holdings Weekly changes changes Within 15 days 2,669 3,069 -1,483 25 -16 16 days to 90 days 27 18,046 + 835 346 -25 91 days to 1 year 30,527 + 968 893 ._ Over 1 year to 5 years 28,097 + 347 3,679 .- Over 5 years to 10 years 10,507 + 56 1,563 -. Over 10 years 6,632 + 41 823 -- Total 2,696 96,878 + 764 7,329 -41 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 21, 1977 New Phila- Cleve- Rich- ~sT. i M• •t nne• -•'• — "- • Kansas San * Total Boston York delphia land mond Atlanta Chicago Louis apolis City 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 291 12 20 13 40 30 30 21 21 13 42 13 36 Loans 2,696 205 1,551 26 2 158 52 188 107 15 109 44 239 Acceptances: Bought outright 4 -- 4 -- -- -- -- -- — — -_ -- — Held under repurchase agreements -- -- -- -- -~ -- -- -- -- -- — -- — 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 -- -- -- -- -- -- -- — -- -- -- — -- U.S. Government securities: Bought outright-- Bills 39,041 1,824 9,215 2,083 3,268 3,112 1,927 6,254 1,657 956 1,566 1,952 5,227 Certificates — -- — -- — -- -- -- -- -- -- -- -- Notes 49,423 2,310 11,665 2,637 4,137 3,939 2,440 7,917 2,097 1,210 1,983 2,471 6,617 Bonds 8,414 393 1,986 449 704 670 415 1,348 357 206 338 421 1,127 Total bought outright 1/2/ 96,878 4,527 22,866 5,169 8,109 7,721 4,782 15,519 4,111 2,372 3,887 4,844 12,971 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- _- -- Total U«S. Government securities 96,878 4,527 22,866 5,169 8,109 7,721 4,782 15,519 4,111 2,372 3,887 4,844 12,971 Total loans and securities 106,907 5,075 26,151 5,586 8,725 8,463 5,196 16,881 4,529 2,566 4,290 5,254 14,191 Cash items in process of collection 12,898 377 1,701 408 620 2,016 1,333 1,605 604 516 964 881 1,873 Bank premises 378 111 10 56 24 65 14 16 13 30 18 12 9 Other assets 3/ 2,318 73 1,026 91 118 115 137 221 68 41 60 81 287 Interdistrict settlement account -0- - 338 - 151 - 242 + 373 - 398 - 770 + 88 - 398 - 113 + 454 + 194 . +1,301 TOTAL 135,587 5,911 32,426 6,614 10,937 11,382 6,562 20,758 5,356 3,302 6,263 6,937 19,139 jV Excludes $2,066 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $171 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Estimated (San Francisco 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 21, 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 E S Federal Reserve notes 87,585 4,389 22,665 4,646 7,642 7,819 3,208 14,656 3,639 1,841 3,179 3,797 10,104 Deposits: Member bank reserves 24,927 685 4,597 999 1,576 1,192 1,836 3,484 793 587 1,220 1,742 6,216 U.S. Treasury—general account 9,803 403 2,688 513 998 354 334 1,090 376 289 858 648 1,252 Foreign 249 10 1/ 44 12 24 15 21 41 9 8 12 15 38 Other 2/ 757 1 519 4 1 22 45 126 1 1 2 17 18 Total deposits 35,736 1,099 7,848 1,528 2,599 1,583 2,236 4,741 1,179 885 2,092 2,422 7,524 Deferred availability cash items 8,871 295 1,074 283 411 1,766 891 841 417 480 853 537 1,023 Other liabilities and accured dividends 1,031 49 242 51 83 77 57 158 41 28 39 48 158 TOTAL LIABILITIES 133,223 5,832 31,829 6,508 10,735 11,245 6,392 20,396 5,276 3,234 6,163 6,804 18,809 CAPITAL ACCOUNTS Capital paid in 1,012 32 258 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 369 12 88 19 32 28 18 60 14 9 16 20 53 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 135,587 5,911 32,426 6,614 10,937 11,382 6,562 20,758 5,356 3,302 6,263 6,937 19,139 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 93,828 4,705 23,460 5,158 7,966 8,268 4,399 15,134 3,926 1,939 3,516 4,201 11,156 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 82,785 4,170 19,950 4,600 7,010 7,270 4,000 13,600 3,500 1,810 3,200 3,775 9,900 Total collateral 95,231 4,771 23,618 5,232 8,046 8,361 4,621 15,336 4,018 2,059 3,635 4,277 11,257 I7~After deducting $20!> million partic ipations o r 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 (San Francisco District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis