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 December 1, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Nov. 30, Nov. 23, j Dec. 1, November 30, and related items 1977* 1977 1976 1977* Reserve Bank credit: TT (In millions of dollars) UTT U.S. Government securities-- Bought outright--System account 95,382 32 +3,789 94,438 Held under repurchase agreements 443 292 -1,189 2,039 Special Certificates Federal Agency oblications-- Bought outright 7,329 -- + 473 7,329 Held under repurchase agreements 41 + 19 18 1 131 Acceptances- Bought outright -- _- - 195 -- Held under repurchase agreements 61 + 35 - 145 248 Loans-- Total member bank borrowing 1,073 + 192 + 986 925 Includes seasonal borrowing of: 74 - 10 + 55 73 Other borrowing -- --. — -- Float 4,943 - 357 +1,387 4,641 Other F.R. assets 2,238 + 229 -1,169 2,124 Total Reserve Bank credit 111,509 + 376 +3,919 111,875 Gold Stock 11,595 .- 3 11,595 Special Drawing Rights certif. acct. 1,200 -- — 1,200 Treasury currency outstanding 11,327 + 5 + 493 11,327 135,631 + 380 +4,409 135,997 Currency in circulation 101,492 + 499 +8,719 101,817 Treasury cash holdings 450 -- 11 450 Treasury deposits with F.R. Banks 2,112 + 355 -4,419 2,562 Foreign deposits with F.R. Banks 313 + 27 + 33 416 Other deposits with F.R. Banks 4/ 713 + 195 - 420 719 Other F.R. liabilities and capital 3,719 + 61 + 249 3,661 Member bank reserves: 108,799 +1,136 +4,149 109 625 With Federal Reserve Banks 26,833 - 755 + 260 26 ,372 Currency and coin 9,093 + 834 + 712 9 093 Total reserves held 5/ ,988 + 79 + 875 35,527 Required reserves ,495 - 363 + 766 35,495 Excess reserves 5/ 493 + 442 + 109 32 NOTE: A net of $11 million of surplus reserves were eligible to be carried forward from the week ended November 23, into the week ending November 30. On November 30, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $74,208 million, an increase of $1,389 million for the week. U Net of $3,019 million, daily average, matched sale-purchase transactions out standing during the statement week. 2/ Excludes $4,053 million of securities sold, and schedule to be bought back, under matched sale-purchase transactions. 1/ Includes $119 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 (Chicago 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 Nov. 30, Nov. 23, Dec. 1, A S S E TS 1977** 1977 1976 , Gold certificate account 11,595 -- 3 Special Drawing Rights certif. acct. * 1,200 — -_ Coin 289 7 - 68 Loans 925 -2,041 + 576 Acceptances--Bought outright — — - 197 Held under repurchase agreements 248 + 66 + 248 Federal Agency obligations—Bought outright 7,329 — + 496 Held under repurchase agreements 131 - 24 + 131 U.S. Government securities: Bought outright--Bills 36,081 -2,189 + 214 Certificates Notes 49,616 -- +2,527 Bonds 8,741 — +2,162 Total bought outright J./2/ 94,438 -2,189 +4,903 Held under repurchase agreements 2,039 + 979 +2,039 Total U.S. Government securities 96,477 -1,210 +6,942 Total loans and securities 105,110 -3,209 +8,196 Cash items in process of collection (2,168) 11,431 - 37 +1,666 Bank premises 383 + 1 + 19 Other assets 3/ 1,741 + 58 -1,533 TOTAL ASSETS (2,168) 131,749 -3,194 +8,277 L I A B I L I T I ES Federal Reserve notes 91,229 + 362 +8,161 Deposits: Member bank-reserves account 26,372 -4,489 +2,805 U.S. Treasury--general account 2,562 + 544 -3,627 Foreign 416 + 147 + 104 Other *y 719 + 120 - 457 Total deposits 30,069 -3,678 -1,175 Deferred availability cash items (2,168) 6,790 + 255 +1,118 Other liabilities and accrued dividends 1,128 - 243 + 102 TOTAL LIABILITIES (2,168) 129,216 -3,304 +8,206 C A P I T AL A C C O U N T S. Capital paid in 1,025 +1 + 51 Surplus 983 -- + 54 Other capital accounts 525 + 109 - 34 * Figures in parentheses are the eliminations made in the consolidating process. Estimated (Chicago District). Excludes $4,053 million of securities sold, and scheduled to be bought back, 1/ under matched sale-purchase transactions. U Includes $119 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. H 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. November 30 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 895 248 3,950 - 268 292 + 6 16 days to 90 days 30 18,203 - 978 291 -21 91 days to 1 year 30,255 + 158 836 +17 Over 1 year to 5 years 26,888 - 122 3,726 -26 Over 5 years to 10 years 10,222 — 1,492 _- Over 10 years 6,959 -- 823 -- Total 925 248 96,477 -1,210 7,460 -24 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 30, 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 289 17 22 14 39 29 29 21 21 10 41 13 33 Loans 925 105 130 29 14 188 71 78 44 20 66 90 90 Acceptances: Bought outright Held under repurchase agreements 248 248 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 131 131 U.S. Government securities: Bought outright— Bills 36,081 1,686 8,517 1,925 3,020 2,950 1,781 5,780 1,531 883 1,447 1,804 4,757 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 J./2/ 94,438 4,413 22,290 5,038 7,905 7,721 4,662 15,129 4,008 2,312 3,788 4,722 12,450 Held under repurchase agreements 2,039 2,039 Total U.S. Government securities 96,477 4,413 24,329 5,038 7,905 7,721 4,662 15,129 4,008 2,312 3,788 4,722 12,450 Total loans and securities 105,110 4,861 26,568 5,458 8,533 8,508 5,095 16,381 4,363 2,511 4,148 5,178 13,506 Cash items in process of collection 13,599 354 1,795 323 537 2,318 1,505 1,938 575 635 926 985 1,708 Bank premises 383 111 10 56 24 70 14 16 13 30 18 12 9 Other assets _3/ 1,741 77 364 83 115 176 132 216 62 37 67 80 332 -0- ! - 104 - 892 - 320 + 178 - 339 - 501 + 88 - 230 + 116 + 115 + 246 +1,643 TOTAL 133,917 5,917 31,536 6,316 10,463 11,853 6,896 20,586 5,323 3,588 5,750 7,016 18,673, 1/ Excludes $4,053 million of securities sold, and scheduled to be bought back, under matched sale -purchase transactions • 1^1 Includes $119 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3>/ Includes assets denominated in foreign currencies, * Estimated (Chicago 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 NOVEMBER 30, 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 IT I E S Federal Reserve notes 91,229 4,621 23,308 4,875 7,902 8,259 3,583 15,068 3,828 1,938 3,368 3,966 10,513 Deposits: Member bank reserves 26,372 725 5,011 881 1,677 1,290 1,907 3,441 880 860 1,312 1,959 6,429 U.S. Treasury—general account 2,562 135 457 177 234 226 150 292 126 146 138 151 330 Foreign 416 10 1/ 211 12 24 15 21 41 9 8 12 15 38 Other 2/ 719 1 605 4 — 13 53 5 1 2 2 19 14 Total deposits 30,069 871 6,284 1,074 1,935 1,544 2,131 3,779 1,016 1,016 1,464 2,144 6,811 Deferred availability cash items 8,958 289 1,011 199 324 1,758 944 1,193 350 536 772 714 868 Other liabilities and accured dividends 1,128 50 283 53 89 142 60 163 43 26 41 51 127 TOTAL LIABILITIES 131,384 5,831 30,886 6,201 10,250 11,703 6,718 20,203 5,237 3,516 5,645 6,875 18,319 CAPITAL ACCOUNTS Capital paid in 1,025 32 266 44 87 55 78 157 32 30 43 58 143 Surplus 983 35 251 43 84 54 75 148 33 29 41 55 135 Other capital accounts 525 19 133 28 42 41 25 78 21 13 21 28 76 TOTAL LIABILITIES AND ! CAPITAL ACCOUNTS 133,917 5,917 31,536 6,316 10,463 11,853 6,896 20,586 5,323 3,588 5,750 7,016 18,673 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 4,117 5,254 8,166 8,565 4,522 15,458 4,031 2,025 3,676 4,384 11,397 Collateral for F.R. notes: Gold certificate account 3,368 632 933 982 559 1,736 468 225 393 456 1,298 Special Drawing Rights certif. acct, 300 103 109 62 50 24 42 46 59 Acceptances U.S. Government securities 4,700 7,210 7,500 4,000 13,800 3,550 1,810 3,300 3,925 10,100 Total collateral 4,851 24,318 5,332 8,246 3,591 4,621 15,536 4,068 2,059 3,735 4,427 11,457 * Estimated (Chicago District). 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