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 November 17, 1977 Averages of daily figures Member bank reserves, Week ended Change fr<3 m week ended Wednesday Reserve Bank credit, Nov. 16, Nov . 9, 1 Nov. 17, Nov. 16, and related items 1977* 1977 J 1976 1977* Reserve Bank credit: 1/ (In millions of dollars) 2/3/ U.S. Government securities-- _ Bought outright--System account 94,919 277 +3,414 89,945 Held under repurchase agreements -- -- - 724 -- Special Certificates Federal Agency oblications-- __ Bought outright 7,329 + 572 7,329 Held under repurchase agreements -- -- 21 — Acceptances- __ -- 1 Bought outright - 199 Held under repurchase agreements -- -- 81 — Loans-- _ Total member bank borrowing 534 353 + 480 371 Includes seasonal borrowing of: 81 - 6 - 61 78 Other borrowing Float 5,216 +1 ,573 +1,904 7,111 Other F.R. assets 2,510 + 44 - 994 2,073 Total Reserve Bank credit 110,508 + 985 +4,351 106,829 Gold Stock 11,595 -- 3 11,595 Special Drawing Rights certif. acct. 1,200 -- -- 1,200 Treasury currency outstanding 11,307 + 6 + 483 11,319 134,610 + 991 +4,831 130,943 Currency in circulation ** 100,849 + 963 +8,782 101,119 Treasury cash holdings ** 450 + 32 21 450 Treasury deposits with F.R. Banks 1,790 -1, 139 -4,215 1,199 Foreign deposits with F.R. Banks 329 + 40 + 42 268 Other deposits with F.R. Banks 4/ 575 + 4 - 335 494 Other F.R. liabilities and capital 3,476 + 275 + 214 | 3,487 107,470 + 177 +4,468 | 107,017 Member bank reserves: With Federal Reserve Banks 27,141 + 814 + 364 23,926 Currency and coin 9,196 + 18 + 961 1 9,196 Total reserves held 5_/ 36,399 + 832 +1,228 33,184 Required reserves 35,816 + 407 + 998 35,816 Excess reserves 5/ 583 + 425 + 230 - 2,632 NOTE: A net of $80 million of surplus reserves were eligible to be carried forward from the week ended November 9, into the week ending November 16. On November 16, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $71,382 million, an increase of $1,939 million for the week. 1/ Net of $3,932 million, daily average, matched sale-purchase transactions out standing during the statement week. 2/ Excludes $8,907 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $323 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 4/ Includes $14 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 $62 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Richmond, Chicago and San Francisco Districts). ** 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 Nov. 16, Nov. 9, Nov. 17, A S S E TS 1977** 1977 1976 Gold certificate account 11,595 Special Drawing Rights certif. acct. 1 ,200 Coin 295 1 72 Loans 371 215 + 315 - 196 Acceptances--Bought outright Held under repurchase agreements Federal Agency obligations—Bought outright 7,329 + 572 Held under repurchase agreements U.S. Government securities: Bought outright—Bills 31,588 -1,726 -7,569 Certificates 49,616 - 240 +2,719 Notes Bonds 8,741 + 240 +2,235 Total bought outright 1/2/ 89,945 -1,726 -2,615 Held under repurchase agreements Total U.S. Government securities "89,945 -1,726 -2,615 Total loans and securities 97,645 -1,941 -1,924 Cash items in process of collection (2,212) 15,090 +4,357 +5,034 381 + 20 Bank premises 1,692 - 441 -1,057 Other assets 3/ (2,212) 127,898 +1,976 +1,998 TOTAL ASSETS L I A B I L I T I ES 90,545 + 341 +8,210 Federal Reserve notes 23,926 + 454 -2,343 Deposits: Member bank-reserves account 1,199 - 933 -5,559 U.S. Treasury—general account 268 - 46 - 39 Foreign 494 - 220 - 354 Other jfy 25 ,887 - 745 -8, 295 Total deposits (2,212) 7 ,979 +2,315 +1 ,845 Deferred availability cash items 1 183 - 43 + 166 Other liabilities and accrued dividends r (2,212) 125,594 +1,868 +1,926 TOTAL LIABILITIES C A P I T AL A C C O U N TS Capital paid in 1,022 + 49 Surplus 983 + 54 Other capital accounts 299 + 109 31 Figures in parentheses are the eliminations made in the consolidating process. Estimated (Richmond, Chicago and San Francisco Districts). 1/ Excludes $8,907 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $323 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. II Includes assets denominated in foreign currencies. 4/ Includes $14 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. NovP.mhpr 16, 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 346 2,040 -1,953 131 +131 16 days to 90 days 25 10,880 -1,848 312 -131 91 days to 1 year 32,834 +3,305 819 — Over 1 year to 5 years 27,010 -1,145 3,752 — Over 5 years to 10 years 10,222 - 325 1,492 -- Over 10 years 6,959 + 240 823 -- Total 371 89,945 -1,726 7,329 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 November 16, 1977 New Phila- Cleve- Rich- St. Minne- Kansas San * Total Boston York delphia land 1 * mond Atlanta Chicago Louis apoiis 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 295 15 19 14 40 31 31 24 21 11 42 13 34 Loans 371 14 18 12 11 11 63 91 4 6 81 57 3 Acceptances: Bought outright -- -- -- -- -- -- -- — -- -- -- -- • -- Held under repurchase agreements -- -- -- -- -- -- -- -- — -- -- -- -" Federal Agency obligations— Bought outright 7,329 343 1,730 391 614 599 362 1,174 311 179 294 366 966 Held under repurchase agreements -- -- -- -- "- -- -- — -- "- -- -~ U.S. Government securities: Bought outright— 1 Bills 31,588 1,476 7,456 1,685 2,644 2,583 1,560 5,060 1,340 773 1,267 1,579 4,165 Certificates -- -- _- -- -- -- -- -- -- -- — -- -- Notes 49,616 2,319 11,710 2,647 4,153 4,056 2,449 7,949 2,106 1,215 1,990 2,481 6,541 Bonds 8,741 408 2,063 466 732 715 432 1,400 371 214 351 437 1,152 Total bought outright l/V 89,945 4,203 21,229 4,798 7,529 7,354 4,441 14,409 3,817 2,202 3,608 4,497 11,858 Held under repurchase agreements .-- -- -- -- -- — -- -- -- -- — -- *•- Total U.S. Government securities 89,945 4,203 21,229 4,798 7,529 7,354 4,441 14,409 3,817 2,202 3,608 4,497 11,858 Total loans and securities 97,645 4,560 22,977 5,201 8,154 7,964 4,866 15,674 4,132 2,387 3,983 4,920 12,827 Cash items in process of collection 17,302 579 2,507 608 848 1,990 2,102 2,249 768 767 1,508 1,211 2,165 Bank premises 381 111 10 56 24 68 14 16 13 30 18 12 9 Other assets 3/ 1,692 66 335 71 100 228 99 302 66 44 70 86 225 Interdistrict settlement account -0- - 266 +4,250 - 400 + 71 - 43 -1,201 - 927 - 371 + 72 - 234 - 169 - 782 TOTAL 130,110 5,666 33,767 6,252 10,274 11,329 6,533 19,264 5,148 3,560 5,822 6,575 15,920 1/ Excludes $8,907 million of securities sold, and scheduled to be bought back,under matched sale-purchase transactions. 2/ Includes $323 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3^/ Includes assets denominated in foreign currencies. * Estimated (Richmond, Chicago and San Francisco Districts). 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 NOVEMBER 16, 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 90,545 4,562 23,297 4,872 7,883 8,194 3,440 14,976 3,779 1,913 3,326 3,922 10,381 Deposits: Member bank reserves 23,926 485 7,470 774 1,558 1,137 1,632 2,688 723 869 1,200 1,648 3,742 U.S. Treasury—general account 1,199 54 260 60 70 139 79 130 64 35 78 85 145 Foreign 268 10 1/ 63 12 24 15 21 41 9 8 12 15 38 Other 494 1 370 4 1 18 51 4 3 2 2 23 15 Total deposits 25,887 550 8,163 850 1,653 1,309 1,783 2,863 799 914 1,292 1,771 3,940 Deferred availability cash items 10,191 429 1,462 376 461 1,519 1,085 900 451 641 1,067 685 1,115 Other liabilities and accured dividends 1,183 48 252 52 84 180 58 168 43 26 40 68 164 TOTAL LIABILITIES 127,806 5,589 33,174 6,150 10,081 11,202 6,366 18,907 5,072 3,494 5,725 6,446 15,600 CAPITAL ACCOUNTS Capital paid in 1,022 32 265 44 87 55 77 156 32 30 43 58 143 Surplus 983 35 251 43 84 54 75 148 33 29 41 55 135 Other capital accounts 299 10 77 15 22 18 15 53 11 7 13 16 42 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 130,110 5,666 33,767 6,252 10,274 11,329 6,533 19,264 5,148 3,560 5,822 6,575 15,920 FEDERAL RESERVE AGENTS1 ACCOUNTS F.R. notes outstanding 95,502 4,776 23,968 5,216 8,095 8,438 4,442 15,343 3,976 1,952 3,657 4,352 11,287 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 8^,193 4,200 20,350 4,700 7,210 7,348 4,000 13,800 3.500 1,810 3,300 3,875 10,100 Total collateral 96,639 4,801 24,018 5,332 8,246 8,439 4,621 15,535 4,018 2,059 3,735 4,377 ll[457 * Estimated (Richmond, Chicago and San Francisco Districts). 1/ After deducting $205 million participations of other Federal Reserve Banks. 2/ Includes $14 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