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 October 6, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Oct. 5, Sept. 28, 1 Oct. 6, Oct. 5, and related items 1977* 1977 »1 1976 1 1977* Reserve Bank credit: 1/ (In millions of dollars) 2/3/ U.S. Government securities-- Bought outright--System account 99,743 + 389 + 8,792 98,742 Held under repurchase agreements 2,753 - 753 - 1,446 1,262 Special Certificates 1,429 +1,429 + 1,429 -- Federal Agency oblications-- Bought outright 7,329 -- + 572 7,329 Held under repurchase agreements 271 + 46 + 5 132 Acceptances-- Bought outright 4 -_ _ 199 * Held under repurchase agreements 362 + 104 - 67 84 Loans-- Total member bank borrowing 883 + 164 + 782 ! 468 Includes seasonal borrowing of: 117 + 1 + 82 99 Other borrowing Float 3,323 + 238 + 666 4,428 Other F.R. assets 2,748 - 62 - 1,125 2,733 Total Reserve Bank credit 118,845 +1,555 + 9,409 115,182 Gold Stock 11,595 -- - 3 11,595 Special Drawing Rights certif. acct. 1,200 -. + 400 1,200 Treasury currency outstanding 11,248 + 6 + 488 11,250 142,887 +1,559 +10,293 139,227 Currency in circulation ** 98,118 + 404 + 8,380 98,706 Treasury cash holdings ** 450 + 19 - 49 450 Treasury deposits with F.R. Banks 12,622 + 533 + 989 6,521 Foreign deposits with F.R. Banks 327 19 + 54 298 Other deposits with F.R. Banks 4/ 730 + 127 - 309 561 Other F.R. liabilities and capital 3,586 - 36 + 203 3,299 115,832 +1,027 + 9,267 109,835 Member bank reserves: With Federal Reserve Banks 27,055 + 532 + 1,027 29,393 Currency and coin 8,992 - 117 + 734 8,992 Total reserves held 5/ 36,213 + 393 + 1,780 38,551 Required reserves 35,817 + 436 + 1,718 ' 35,817 Excess reserves 5/ 396 - 43 + 62 2,734 NOTE: A net of $121 million of surplus reserves were eligible to be carried forward from the week ended September 28, into the week ending October 5. On October 5, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $64,546 million, an increase of $1,739 million for the week. 1/ Net of $1,317 million, daily average, matched sale-purchase transactions "~ outstanding during the statement week. 2/ Excludes $2,210 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $223 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 $166 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 Oct. 5, Sept. 28, Oct. 6, A S S E TS 1977** 1977 1976 Gold certificate account 11,595 3 Special Drawing Rights certif. acct. * 1,200 _. + 400 Coin 297 + 3 68 Loans 468 - 824 + 412 Acceptances—Bought outright 4 -. 195 Held under repurchase agreements 84 - 348 97 Federal Agency obligations—Bought outright 7,329 -~ + 572 Held under repurchase agreements 132 - 219 + 49 U.S. Government securities: Bought outright—Bills 40,385 -1,373 + 8,283 Certificates Notes 49,856 I- 433 + 2,959 Bonds 8,501 h 87 + 1,995 Total bought outright 1/2/ 98,742 - 853 +13,237 Held under repurchase agreements 1,262 -3,418 - 545 Total U.S. Government securities 100,004 -4,271 +12,692 Total loans and securities 108,021 -5,662 +13,433 Cash items in process of collection (2,036) 10,957 +1,379 + 1,541 Bank premises 379 + 1 + 23 Other assets 3/ 2,354 - 270 - 1,164 134,803 -4,549 +14,162 TOTAL ASSETS (2,036) L I A B I L I T I ES 88,203 + 625 + 7,694 Federal Reserve notes 29,393 - 475 + 6,551 Deposits: Member bank-reserves account 6,521 -4,676 975 U.S. Treasury—general account 298 r 2 + 46 Foreign 561 - 208 337 Other 4/ 36,773 -5,361 + 5,285 Total deposits (2,036) 6,528 + 584 + 920 Deferred availability cash items 1,115 - 87 + 125 Other liabilities and accrued dividends (2,036) 132,619 -4,239 +14,024 TOTAL LIABILITIES C A P IT A L A C C O U N T S. ,016 + 3 + 50 Capital paid in Surplus 983 --. + 54 Other capital accounts 185 - 313 + 34 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (San Francisco District). 1/ Excludes $2,210 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $223 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. October 5 1977 r (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 424 84 5,670 -2,927 207 -169 16 days to 90 days 44 4 17,664 -1,363 369 + 23 91 days to 1 year -- -- 31,294 - 121 820 . - 73 Over 1 year to 5 years -. — 28,110 + 13 3,679 -- Over 5 years to 10 years -- -- 10,547 + 40 1,563 -- Over 10 years — -- 6,719 + 87 823 — Total 468 88 100,004 -4,271 7,461 -219 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 October 5, 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) 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 297 13 21 14 41 30 30 21 20 13 42 13 39 Loans 468 11 19 10 5 42 131 59 47 20 54 68 2 Acceptances: Bought outright 4 -- 4 — -- "- -- -- -- -- -- -- -- Held under repurchase agreements 84 -- 84 -- -- __ -~ -- ~~ ~- -- -- -- 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 132 -- 132 '-- -- -- -- -- -- -- -- — -- U.S. Government securities: Bought outright— Bills 40,385 1,887 9,533 2,154 3,381 3,219 1,994 6,469 1,713 988 1,620 2,019 5,408 Certificates -- -- -- -- -- — — -- — -- -- -- -- Notes 49,856 2,330 11,767 2,660 4,173 3,973 2,461 7,987 2,116 1,221 2,000 2,493 6,675 Bonds 8,501 397 2,006 454 712 677 420 1,362 361 208 341 425 1,138 Total bought outright 1/2/ 98,742 4,614 23,306 5,268 8,266 7,869 4,875 15,818 4,190 2,417 3,961 4,937 13,221 Held under repurchase agreements 1,262 -- M62 -- -- **- -- -- -- -- -- -- -- Total U.S. Government securities 100,004 4,614 24,568 5,268 8,266 7,869 4,875 15,818 4,190 2,417 3,961 4,937 13,221 Total loans and securities 108,021 4,968 26,537 5,669 8,885 8,495 5,368 17,051 4,548 2,616 4,309 5,371 14,204 Cash items in process of collection 12,993 371 2,187 348 482 2,131 1,442 1,757 488 527 1,088 690 1,482 BBaannkk pprreemmiisseess 379 111 10 56 24 66 14 16 13 30 18 12 9 OOtthheerr aasssseettss 33// 2,354 78 1,004 90 132 134 119 250 72 41 60 76 298 Interdistrict settlement account -0- - 253 +3,037 - 494 - 242 - 183 - 947 - 817 - 344 + 13 - 210 + 63 + 377 TOTAL 136,839 5,889 36,465 6,385 10,359 11,764 6,648 20,204 5,316 3,489 5,742 6,727 17,851 1/ Excludes $2,210 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $223 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 OCTOBER 5, 1977 1 * • 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 ES Federal Reserve notes j 88,203 4,407 22,651 4,660 7,638 7,955 3,394 14,707 3,685 1,854 3,235 3,871 10,146 Deposits: Member bank reserves 29,393 741 8,692 920 1,743 1,365 1,751 3,697 772 813 1,198 1,873 5,828 U.S. Treasury—general account 6,521 314 2,635 407 325 474 180 356 386 248 364 304 528 Foreign 298 10 1/ 93 12 24 15 21 41 9 8 12 15 38 Other 2/ 561 1 451 1 1 21 47 8 1 2 1 17 10 Total deposits 36,773 1,066 11,871 1,340 2,093 1,875 1,999 4,102 1,168 1,071 1,575 2,209 6,404 Deferred availability cash items 8,564 299 1,134 241 365 1,735 1,035 916 350 472 802 478 737 Other liabilities and accured dividends 1,115 49 260 51 82 82 61 157 43 30 40 49 211 TOTAL LIABILITIES 134,655 5,821 35,916 6,292 10,178 11,647 6,489 19,882 5,246 3,427 5,652 6,607 17,498 CAPITAL ACCOUNTS Capital paid in 1,016 32 262 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 185 1 36 6 11 8 7 20 4 3 6 7 76 TOTAL LIABILITIES'AND CAPITAL ACCOUNTS 136,839 5,889 36,465 6,385 10,359 11,764 6,648 20,204 5,316 3,489 5,742 6,727 17,851 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 1 93,777 r4,683 23,445 5,112 7,881 8,311 4,498 15,054 3,908 1,943 3,547 4,264 11,131 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 82,885 4,170 19,950 4,600 7,010 7,320 4,000 13,600 3,500 1,810 3,200 3,825 9,900 Total collateral 35,311 4J71 23,618 5,232 8,046 8,411 4,621 15,336 4,018 2,059 3,635 4,327 11,257 .1/ After deducting $205 million participations oi^other Federal ^Reserve Banks. 2V 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