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 27, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Oct. 26, Oct. 19, 1 Oct. 27, Oct. 26, and related items 1977 1977 1 1976 1977 Reserve Bank credit: 1/ (In millions of dollars) 12/3/ U.S. Government securities-- Bought outright--System account 97,862 +1,460 +4,696 98,068 Held under repurchase agreements 185 + 185 - 309 I 1,294 Federal Agency obligations-- Bought outright 7,329 __ + 572 7,329 Held under repurchase agreements 29 + 29 + 13 200 Acceptances— Bought outright 3 1 - 198 1 Held under repurchase agreements 31 + 31 + 22 221 Loans-- Total member bank borrowing 1,443 - 418 +1,324 1,182 Includes seasonal borrowing of: 116 + 4 + 83 112 Other borrowing Float 3,498 - 932 + 945 3,907 Other F.R. assets 2,416 + 89 -1,334 2,549 Total Reserve Bank credit 112,796 + 444 +5,730 114,751 Gold Stock 11,595 -- 3 11,595 Special Drawing Rights certif. acct. 1,200 -- .- 1,200 Treasury currency outstanding 11,284 + 13 + 486 11,288 136,875 + 457 +6,213 138,834 Currency in circulation * 98,832 - 362 +8,614 99,108 Treasury cash holdings * 450 + 18 7 450 Treasury deposits with F.R. Banks 5,985 +1,281 -3,108 6,375 Foreign deposits with F.R. Banks 287 - 40 + 44 344 Other deposits with F.R. Banks 4/ 656 + 39 - 362 708 Other F.R. liabilities and capital 3,623 + 197 + 173 3,637 109,833 +1,133 +5,355 110,622 Member bank reserves: With Federal Reserve Banks 27,043 - 676 + 859 28,212 Currency and coin 8,407 - 213 + 563 i 8,407 Total reserves held 5/ 35,509 - 904 +1,325 36,678 Required reserves ~~ 35,297 - 981 +1,224 35,297 Excess reserves 5/ 212 + 77 + 101 1,381 NOTE: A net of $16 million of surplus reserves were eligible to be carried forward from the week ended October 19, into the week ending October 26. On October 26, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $67,772 million, an increase of $722 million for the week. 1/ Net of $1,944 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $1,728 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $140 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 47 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 $59 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.4.1fa> CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Oct. 26, Oct. 19, Oct. 27, 1977 A 1 S. E T S 1977 1976 Gold certificate account 11,595 — - 3 Special Drawing Rights certif. acct. 1,200 .._ -- Coin 305 + 2 - 69 Loans 1,182 -2,369 + 614 Acceptances—Bought outright 1 3 - 195 Held under repurchase agreements 221 + 221 + 191 Federal .Agency obligations—Bought outright 7,329 -_ + 572 Held under repurchase agreements 200 + 200 + 149 U.S. Government securities: Bought outright—Bills 39,711 +3,790 + 445 Certificates Notes 49,856 +2,959 Bonds 8,501 +1,995 Total bought outright 1/2/ 98,068 +3,790 +5,399 Held under repurchase agreements 1,294 +1,294 - 255 Total U.S. Government securities 99,362 +5,084 +5,144 Total loans and securities 108,295 +3,133 +6,475 Cash items in process of collection (1,888) 9,756 -1,152 +2,097 Bank premises 381 + 1 . + 23 Other assets J/ 2,168 + 243 -1,193 TOTAL ASSETS (1,888) 133,700 +2,227 +7,330 LIABILITIES 88,575 - 144 +8,047 Federal Reserve notes 28,212 +1,486 +1,640 Deposits: Member bank-reserves account 6,375 +1,160 -3,073 U.S. Treasury—general account 344 + 101 + 93 Foreign 708 + 146 - 246 Other ^1 Total deposits 35, 639 +2,893 -1,586 Deferred availability cash items (1,888) 5 ,849 - 693 + 714 Other liabilities and accrued dividends 1, 150 + 53 + 5£ TOTAL LIABILITIES (1,888) 131,213 +2,109 +7,231 C A P I T AL A C C O U N TS Capital paid in 1,021 + 2 + 48 Surplus 983 + 54 Other capital accounts 483 + 1L6 3 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $1,728 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. y Includes $140 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. ii 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 26, 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 1,157 222 4,339 + 384 242 + 125 16 days to 90 days 25 18,683 +4 ,614 379 + 53 91 days to 1 year 30,964 + 86 841 7 Over 1 year to 5 years 28,110 -- 3,752 + 48 Over 5 years to 10 years 10,547 -- 1,492 - 19 Over 10 years 6,719 -- 882233 — Total 1,182 222 99,362 +5 ,084 77,,552299 + 200 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 26, 1977 New Phila- Cleve- Rich St. Minne- Kansas San Total Boston York delphia land 1 mond Atlanta Chicago Louis apolis City Dallas Franc iscoi (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 305 15 21 15 43 30 30 22 21 12 43 14 39 Loans 1,182 155 58 119 28 168 237 135 29 8 107 120 18 Acceptances: Bought outright 1 -- 1 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements 221 -- 221 -- — — -- -- -- -- _- -._ -"" 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 200 -- 200 -- -- -- -- -- -- -- -- "- -" U.S. Government securities: Bought outright— Bills 39,711 1,856 9,373 2,118 3,324 3,165 1,961 6,361 1,685 972 1,593 1,986 5,317 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 J,/2/ 98,068 4,583 23,146 5,232 8,209 7,815 4,842 15,710 4,162 2,401 3,934 4,904 13,130 Held under repurchase agreements 1,294 -- 1,294 -- -- -- -- -- -- -- -- -- -- Total U.S. Government securities 99,362 4,583 24,440 5,232 8,209 7,815 4,842 15,710 4,162 2,401 3,934 4,904 13,130 Total loans and securities 108,295 5,081 26,650 5,742 8,851 8,567 5,441 17,019 4,502 2,588 4,335 5,390 14,129 Cash items in process of collection 11,644 315 1,442 300 491 1,813 1,209 1,391 522 471 916 878 1,896 Bank premises 381 111 10 56 24 68 14 16 13 30 18 12 9 Other assets 3/ 2,168 89 451 100 143 173 140 271 83 52 81 94 491 Interdistrict settlement account -0- + 11 + 258 - 499 + 111 - 130 - 562 22 - 21 + 94 + 45 + 152 + 563 TOTAL 135,588 6,223 32,501 6,416 10,700 11,612 6,894 20,623 5,639 3,496 5,873 7,042 18,569 1/ Excludes $1,728 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $140 million of 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 26, 1977 New Phila Cleve Rich St. Minne Kansas San 1 Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) LIABILITIES! Federal Reserve notes 88,575 4,437 22,725 4,690 7,659 7,997 3,420 14,708 3,695 1,881 3,264 3,899 10,200 Deposits: Member bank reserves 1 28,212 946 6,274 1,010 1,611 1,250 1,850 3,706 1,031 728 1,388 1,967 6,451 U.S. Treasury—general account 6,375 408 923 342 809 494 542 940 367 333 324 441 452 Foreign 344 10 1/ 139 12 24 15 21 41 9 8 12 15 38 Other 2/ 708 * 601 3 1 19 46 4 1 2 2 9 21. Total deposits 35,639 1,364 7,937 1,367 2,445 1,778 2,459 4,691 1,408 1,071 1,726 2,432 6,961 Deferred availability cash items 7,737 288 920 192 298 1,596 782 678 408 448 740 522 865 Other liabilities and accured dividends 1.150 50 282 55 88 95 58 164 43 26 40 51 198 TOTAL LIABILITIES 133,101 6,139 31,864 6,304 10,490 11,466 6,719 20,241 5,554 3,426 5,770 6,904 18,224 CAPITAL ACCOUNTS Capital paid in 1,021 32 264 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 483 17 122 25 39 37 23 78 19 11 19 25 68 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 135,588 6,223 32,501 6,416 10,700 11,612 6,894 20,623 5,639 3,496 5,873 7,042 18,569 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 94,175 4,686 23,563 5,128 7,943 8,390 4,539 15,048 3,901 1,953 3,580 4,333 11,111 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 83,185 4,170 20,150 4,600 7,010 7,370 4,000 13,600 3,500 1,810 3,200 3,875 9,900 Total collateral 95,631 4,771 23,818 5,232 8,046 8,461 4,621 15,336 4,018 2,059 3,635 4,377 11,257 * Less than S500,000. "• !ij—w"" 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