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 20 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Oct. 19, Oct. 12 > 1 Oct. 20, Oct. 19, and related items 1977 1977 1 1976 1977 Reserve Bank credit: 1/ (In millions of dollars) 2/3/ U.S. Government securities— Bought outright—System account 96,402 + 519 +4,099 94,278 Held under repurchase agreements - 434 -1,079 Federal Agency obligations-- Bought outright 7,329 + 572 7,329 Held under repurchase agreements - 45 - 34 Acceptances-- Bought outright 4 - 196 4 Held under repurchase agreements - 55 - 48 Loans— Total member bank borrowing 1,861 + 810 +1,813 3,551 Includes seasonal borrowing of: 112 + 83 103 Other borrowing Float 4,399 + 592 + 929 4,366 Other F.R. assets 2,327 + 17 -1, 316 2,305 Total Reserve Bank credit 112,321 +1, 403 +4, 740 111,833 Gold Stock 11,595 - 3 11,595 Special Drawing Rights certif. acct. 1,200 1,200 Treasury currency outstanding 11,271 + 4 + 485 11,273 136,387 +1,406 +5,222 135,901 Currency in circulation * 99,176 + 129 +8 632 99,240 Treasury cash holdings * 450 + 18 - 41 450 Treasury deposits with F.R. Banks 4,704 - 816 -3, 695 5,215 Foreign deposits with F.R. Banks 327 + 60 + 36 243 Other deposits with F.R. Banks 4/ 617 - 254 393 562 Other F.R. liabilities and capital 3,426 +_ 117 108 3,466 108,700 - 746 +4,648 109, 176 Member bank reserves: With Federal Reserve Banks 27,688 +2,154 + 575 26,7 26 Currency and coin 8,620 - 583 +1,201 8, Total reserves held 5/ L62Q 36,382 +1,498 +1,696 35,420 Required reserves "" 36,278 +1,628 +1,691 36,278 Excess reserves 5/ 104 - 130 + 5 - 858 NOTE: A net of $67 million of surplus reserves were eligible to be carried forward from the week ended October 12, into the week ending October 19. On October 19, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $67,050 million, an increase of $1,313 million for the week. 1/ Net of $3,961 million, daily average, matched sale-purchase transactions out standing during the statement week. 2/ Excludes $5,911 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $183 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 $74 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * 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. 19, Oct. 12, Oct. 20, A S S E TS 1977 1977 1976 Gold certificate account 11,595 -- 3 Special Drawing Rights certif. acct. * 1,200 — -- Coin 303 + 4 - 67 Loans 3,551 +2,864 +3,469 Acceptances--Bought outright 4 — - 195 Held under repurchase agreements .- - 149 - 112 Federal Agency obligations—Bought outright 7,329 — + 572 Held under repurchase agreements — - 60 - 110 U.S. Government securities: Bought outright—Bills 35,921 -3,459 -4,154 Certificates Notes 49 ,856 +2,959 Bonds 8 ,501 +1,995 Total bought outright \jy 94, 278 -3,459 + 800 Held under repurchase agreements - 483 -2,396 Total U.S. Government securities 94, 278 .-3,942 -1,596 Total loans and securities 105,162 -1,287 +2,028 Cash items in process of collection (2,005) 10,908 - 896 +1,104 Bank premises 380 + 1 + 21 Other assets 3_/ 1,925 + 80 -1,718 TOTAL ASSETS (2,005) 131,473 -2,098 +1,365 LI.ABILITI.ES Federal Reserve notes 88,719 - 329 +8,121 Deposits: Member bank-reserves account 26,726 -1,476 -3,818 U.S. Treasury—general account 5,215 + 585 -2,861 Foreign 243 4 13 Other _V 562 - 148 - 984 Total deposits 32,746 -1,043 -7,676 Deferred availability cash items (2,005) 6,542 - 888 + 851 Other liabilities and accrued dividends 1,097 + 37 29 TOTAL LIABILITIES (2,005) 129,104 -2,223 +1,267 C A P I T AL A C C O U N T S. Capital paid in 1,019 + 3 + 45 Surplus 983 — + 54 Other capital accounts 367 + 122 1 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $5,911 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. y Includes $183 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 19, 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 Weekly Holdings Weekly changes changes Within 15 days 3,525 3,955 - 696 117 - 17 16 days to 90 days 26 14,069 -3,989 326 - 43 91 days to 1 year 30,878 + 743 848 + 28 Over 1 year to 5 years 28,110 -- 3,704 - 28 Over 5 years to 10 years 10,547 -- 1,511 _- Over 10 years 6,719 -- 823 — Total 3,551 94,278 -3,942 7,329 - 60 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 19, 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 303 13 21 15 41 30 32 22 22 12 42 14 39 Loans 3,551 153 1,152 67 93 247 219 402 148 29 173 298 570 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 5 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright— Bills 35,921 1,679 8,479 1,916 3,007 2,863 1,773 5,754 1,524 879 1,441 1,796 4,810 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/ 94,278 4,406 22,252 5,030 7,892 7,513 4,654 15,103 4,001 2 ,308 3,782 4,714 12,623 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Total U.S. Government securities 94,278 4,406 22,252 5,030 7,892 7,513 4,654 15,103 4,001 2,, 308 3,782 4,714 12,623 Total loans and securities 105,162 4,902 25,138 5,488 8,599 8,344 5,235 16,679 4,460 2 ,516 4,249 5,378 14,174 Cash items in process of collection 12,913 457 1,660 371 601 1,960 1,378 1,796 589 578 982 779 1,762 Bank premises 380 111 10 56 24 67 14 16 13 30 18 12 9 Other assets 3/ 1,925 86 435 100 140 149 131 262 76 45 68 86 347 Interdistrict settlement account -0- - 6 +2,307 - 400 + 22 + 115 - 763 - 745 - 376 -150 + 38 + 2 - 44 TOTAL 133,478 6,164 33,240 6,332 10,464 11,756 6,649 19,956 5,303 3 ,280 5,832 6,773 17,729 17 Excludes $5,911 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $183 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 OCTOBER 19, 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 ES Federal Reserve notes 88,719 4,464 22,811 4,716 7,720 7,965 3,318 14,827 3,696 1,872 3,253 3,871 10,206 Deposits: Member bank reserves 26,726 913 6,924 904 1,440 1,455 1,795 3,066 808 622 1,346 1,818 5,635 U.S. Treasury--general account 5,215 350 1,009 331 614 386 350 634 301 178 263 362 437 Foreign 243 10 1/ 38 12 24 15 21 41 9 8 12 15 38 Other 2/ 562 2 459 1 16 47 7 * 2 1 14 13 Total deposits 32,746 1,275 8,430 1,248 2,078 1,872 2,213 3,748 1,118 810 1,622 2,209 6,123 Deferred availability cash items 8,547 297 1,145 208 381 1,697 890 857 367 505 818 511 871 Other liabilities and accured dividends 1,097 49 248 53 85 86 58 161 42 25 40 50 200 TOTAL LIABILITIES 131,109 6,085 32,634 6,225 10,264 11,620 6,479 19,593 5,223 3,212 5,733 6,641 17,400 CAPITAL ACCOUNTS Capital paid in 1,019 32 262 44 87 55 77 156 33 30 43 58 142 Surplus 983 35 251 43 84 54 75 148 33 29 41 55 135 Other capital accounts 367 12 93 20 29 27 18 59 14 9 15 19 52 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 133,478 6,164 33,240 6,332 10,464 11,756 6,649 19,956 5,303 3,280 5,832 6,773 17,729 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 94,139 4,691 23,618 5,105 8,006 8,347 4,440 15,154 3,902 1,942 3,558 4,268 11,108 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 4,170 20,150 4,600 7,010 7,320 4,000 13,600 3,500 1,810 3,200 3,825 9,900 Total collateral 4,771 23,818 5,232 8,046 8,411 4,621 15,336 4,018 2,059 3,635 4,327 11,257 * Less than $500,000. ~"~ ~ """" ~ 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 and redeposited in full with Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis