H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and '•.f^S^: Condition Statement of F.R. Banks H.4.1 For immediate release September 29, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Sept. 28, Sept. 21, Sept. 29, Sept. 28, and related items 1977* 1977 1976 1977* Reserve Bank credit: TJ (In millions of dollars) 2/ 3/ U.S. Government securities— Bought outright--System account 99,354 +2,631 +7,859 99,595 Held under repurchase agreements 3,506 +3,506 -1,165 4,680 Federal Agency obligations— Bought outright 7,329 572 7,329 Held under repurchase agreements 225 + 225 79 351 Acceptances-- Bought outright 4 211 4 Held under repurchase agreements 258 + 258 130 432 Loans-- Total member bank borrowing 719 19 632 1,292 Includes seasonal borrowing of: 116 + 6 82 116 Other borrowing Float 2,875 -1,422 461 3,711 Other F.R. assets 2,793 - 108 882 2,880 Total Reserve Bank credit 117,063 +5,071 +7,215 120,274 Gold Stock 11,595 3 11,595 Special Drawing Rights certif. acct. 1,200 + 500 1,200 Treasury currency outstanding 11,242 + 13 + 489 11,246 141,100 +5,084 +8,201 144,315 Currency in circulation 97,690 - 447 +8,288 98,049 Treasury cash holdings 450 24 450 Treasury deposits with F.R. Banks 12,089 +5,901 - 214 11,197 Foreign deposits with F.R. Banks 346 + 63 + 126 300 Other deposits with F.R. Banks 4/ 603 - 130 - 311 769 Other F.R. liabilities and capital 3,620 + 75 + 91 3,682 114,799 +5,464 +7,957 114,447 Member bank reserves: With Federal Reserve Banks 26,302 379 245 29,868 Currency and coin 9,109 920 749 9,109 Total reserves held 5/ 35,599 + 640 +1,022 39,165 Required reserves 35,381 + 453 +1,003 35,381 Excess reserves 5/ 218 + 187 + 19 3,784 NOTE: A net of $1 million of deficit reserves were eligible to be carried forward from the week ended September 21, into the week ending September 28. On September 28, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $62,807 million, a decrease of $104 million for the week. 1/ Net of $868 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $713 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $240 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 $188 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19 1975. Estimated (San Francisco District). Estimated (Treasury's figures). Partially estimated for all Federal Reserve Districts. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

K.4.!(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Sept. 28, Sept. 21, Sept. 29, A S S E TS 1977** 1977 1976 Gold certificate account 1,595 -- - 3 Special Drawing Rights certif. acct. * 1,200 -- + 500 Coin 294 + 3 - 71 Loans 1,292 -1,414 + 966 Acceptances—Bought outright 4 — - 208 Held under repurchase agreements 432 + 432 - 75 Federal Agency obligations—Bought outright 7,329 -- + 572 Held under repurchase agreements 351 + 351 + 56 U.S. Government securities: Bought outright—Bills 1,758 +2,717 +3 ,386 Certificates Notes 49,423 +2,941 Bonds 8,414 +1,949 Total bought outright 1/2/ 99,595 +2,717 +8,276 Held under repurchase agreements 4,,680 +4,680 -3,225 Total U.S. Government securities 104,275 +7,397 +5,051 Total loans and securities 113,683 +6,766 +6,362 Cash items in process of collection (2,065) 9,554 -1,114 +1,473 Bank premises 378 — + 24 Other assets jty 2,502 + 184 - 893 TOTAL ASSETS (2,065) 139,206 +5,839 +7,392 L I A B I L I T I ES Federal Reserve notes 87,547 - 38 +7,745 Deposits: Member bank-reserves account 29,868 +4,941 + 152 U.S. Treasury—general account 11,197 +1,394 -1,015 Foreign 300 + 51 + 55 Other 4/ 769 + 12 - 151 Total deposits 42,134 +6,398 - 959 Deferred availability cash items (2,065) 5,843 - 808 + 573 Other liabilities and accrued dividends 1,188 + 157 - 60 TOTAL LIABILITIES (2,065) 136,712 +5,709 +7,299 C A P I T AL A C C O U N TS Capital paid in 1,013 + 1 + 48 Surplus 983 -- + 54 Other capital accounts 498 + 129 - 9 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (San Francisco District). \_l Excludes $713 million of securities sold, and scheduled tc be bought back, under matched sale-purchase transactions. 2/ Includes $240 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 28, 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 securitiIes obligat ions ances Holdings Weekly Holdings Weekly changes changes Within 15 days 1,265 432 8,597 +5,528 376 + 351 16 days to 90 days 27 4 19,027 + 981 346 91 days to 1 year 31,415 + 888 893 Over 1 year to 5 years 28,097 .- 3,679 Over 5 years to 10 years 10,507 — 1,563 Over 10 years 6,632 -- 823 Total 1,292 436 104,275 +7,397 7,680 + 351 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 28, 1977 New Phila- Cleve Rich St. Minne- Kansas San * Total Boston York delphia land J mond Atlanta Chicago Louis apolis City Dallas Franc is co. (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 294 12 21 13 41 30 29 21 21 13 42 13 33 1,292 179 45 127 60 175 81 119 168 22 122 55 139 Loans Acceptances: Bought outright 4 4 "" — "" "" "" ~~ Held under repurchase agreements 432 432 "" "" "" "" 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 351 351 "" " , U.S. Government securities: Bought outright— Bills 41,758 1,951 9,856 2,228 3,496 3,328 2,062 6,689 1,772 1,022 1,675 2,088 5,591 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 BBoonnddss 8,414 393 1,986 449 704 670 415 1,348 357 206 338 421 1,127 TToottaall bboouugghhtt oouuttrriigghhtt llAAff**// 99,595 4,654 23,507 5,314 8,337 7,937 4,917 15,954 4,226 2,438 3,996 4,980 13,335 HHHeeelllddd uuunnndddeeerrr rrreeepppuuurrrccchhhaaassseee aaagggrrreeeeeemmmeeennntttsss 4,680 -- 4,680 __ -- •"*" ~~ -•- — ~~ __ ~- TTToootttaaalll UUU...SSS... GGGooovvveeerrrnnnmmmeeennnttt ssseeecccuuurrriiitttiiieeesss 104,275 4,654 28,187 5,314 8,337 7,937 4,917 15,954 4,226 2,438 3,996 44,,998800 13,335 TTToootttaaalll llloooaaannnsss aaannnddd ssseeecccuuurrriiitttiiieeesss 113,683 5,176 30,749 5,832 9,011 8,696 5,360 17,247 4,705 2,639 4,412 55,,440011 14,455 Cash items in process of collection 11,619 352 1,616 357 502 1,903 1,138 1,400 573 513 898 752 1,615 Bank premises 378 111 10 56 24 65 14 16 13 30 18 12 9 OOOttthhheeerrr aaasssssseeetttsss ^^^...''' 2,502 79 1,064 86 139 143 145 242 69 41 63 81 350 IIInnnttteeerrrdddiiissstttrrriiicccttt ssseeettttttllleeemmmeeennnttt aaaccccccooouuunnnttt -0- • 166 -1,103 - 506 - 198 - 222 - 714 - 588 - 219 - 13 + 739 + 1,168 +1,822 141,271 6,165 36,026 6,540 10,556 11,706 6,594 20,264 5,681 3,472 6,607 7,929 19,731 TTTOOOTTTAAALLL \J Excludes $713 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $240 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

K.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON September 28, 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 87,547 4,384 22,511 4,609 7,576 7,889 3,365 14,583 3,645 1,853 3,206 3,841 10,085 Federal Reserve notes Deposits: Member bank reserves 29,868 894 7,468 1,014 1,829 1,526 1,616 3,687 798 743 1,167 2,152 6,974 U.S. Treasury--general account 11,197 462 3,387 483 463 407 507 634 719 293 1,301 1,211 1,330 Foreign 300 13 1/ 95 12 24 15 21 41 9 8 12 15 38 Other 2/ 769 -- 593 30 — 20 46 48 4 2 2 9 15 TotaF deposits 42,134 1,366 11,543 1,539 2,316 1,963 2,190 4,410 1,530 1,046 2,482 3,387 8,357 Deferred availability cash items 7,908 280 996 224 366 1,623 805 728 378 477 775 512 .744 Other liabilities and accured dividends 1,188 51 343 55 85 80 58 160 43 26 40 50 197 TOTAL LIABILITIES 138,777 6,081 35,393 6,427 10,343 11,560 6,418 19,881 5,596 3,402 6,503 7,790 19,383 CAPITAL ACCOUNTS Capital paid in 1,013 32 262 44 86 55 77 154 33 30 40 58 142 Surplus 983 35 251 43 34 54 75 148 33 29 41 55 135 Other capital accounts 449988 1177 120 26 43 37 24 81 19 11 23 26 71 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 141,271 6,165 36,026 6,540 10,556 11,706 6,594 20,264 5,681 3,472 6,607 7,929 19,731 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 93,780 4,690 23,395 5,124 7,892 8,324 4,531 15,011 33,,991177 1,948 3,529 4,272 11,147 Collateral for F.R. notes: Gold certificate account 11,591 541 3,368 632 933 982 559 1,736 446688 225 393 456 1,298 855 60 300 103 109 62 5500 24 42 46 59 Special Drawing Rights certif. aacccctt.. Acceptances U.S. Government securities 82,885 4,170 19,950 4,600 7,010 7,320 4,000 13,600 33,,550000 1,810 3,200 3,825 9,900 Total collateral _._95J331_ 4,771 23,618 5,232 8,046 8,411 4,621 15,336 44,,001188 2,059 3,635 4,327 11,257 1/ After deducting $205 million participations of other Federal Reserve Banks. 2/ Includes $13 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks ^Estimated (San Francisco District). and redeposited in full with Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis