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 8, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Dec. 7, Nov. 30, Dec. 8, ! Dec. 7, and related items 1977 1977 1976 1977 Reserve Bank credit: 1/ (In millions of dollars) | 2/3/ U.S. Government securities-- Bought outright—System account 97,074 +1,692 + 7,531 97,785 Held under repurchase agreements 902 + 459 + 902 629 Federal Agency obligations— Bought outright 7,329 - + 496 7,329 Held under repurchase agreements 35 6 + 35 50 Acceptances-- Bought outright — __ 195 -- Held under repurchase agreements 171 + 110 + 171 ' 294 Loans— Total member bank borrowing 583 - 490 + 557 1 588 Includes seasonal borrowing of: 70 4 + 56 58 Other borrowing — — __ ... Float 4,897 - 12 + 1,367 5,134 Other F.R. assets 2,103 - 134 1,297 2,213 Total Reserve Bank credit 113,094 +1,619 + 9,567 114,023 Gold Stock 11,622 + 27 + 24 11,658 Special Drawing Rights certif. acct. 1,200 — — 1,200 Treasury currency outstanding 11,344 + 17 + 496 11,346 137,261 +1,664 4-10,088 138,227 Currency in circulation * 101,730 + 238 + 8,711 102,416 Treasury cash holdings * 450 — 27 450 Treasury deposits with F.R. Banks 4,156 +2,044 f 448 4,276 Foreign deposits with F.R. Banks 316 + 3 f 58 ! 244 Other deposits with F.R. Banks 4/ 661 - 52 321 690 Other F.R. liabilities and capital 3,552 -- 116699 ++ 448833 3,324 110,865 ++22,,006644 ++ 99,,335522 !! 111,400 Member bank reserves: With Federal Reserve Banks 26,395 - 402 + 735 26,826 Currency and coin 9,256 ++ 116633 ++ 776622 9,256 Total reserves held 5/ 35,712 -- 224400 ++ 11,,339999 36,143 Required reserves 35,681 + 186 + 1,493 1 35,681 Excess reserves 5/ 31 - 426 94 462 NOTE: A net of $257 million of surplus reserves were eligible to be carried forward from the week ended November 30, into the week ending December 7. On December 7, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $75,006 million, an increase of $798 million for the week. 1/ Net of $1,635 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $1,291 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $69 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 4/ Includes $20 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 $61 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Treasury1s 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 Dec. 7, Nov. 30, Dec. 8, jjj£ S E T S 1977 1977 1976 Gold certificate'account 1,658 + 63 + 60 Speciar Drawing Rights certif. acct. 1,200 — — Coin 291 + 2 - 65 Loans 588 - 337 + 564 Acceptances,--Bought outright — — - 189 Held under repurchase agreements 294 + 46 + 294 Federal Agency obligat|pns— Bought outright 7,329 — + 496 Held under repurchase agreements 50 - 81 + 50 U.S. Government; securities: Bought outright^-Bills 9,428 +3 ,347 +1,484 Certificates Notes 49,616 +2,527 Bonds 8,741 +2,162 Total bought outright 1/2/ 97,785 +3,347 +6,173 Held under repurchase agreements 629 -1,410 + 629 Total U.S. Government securities 98,414 +1,937 +6,802 Total loans and securities 106,675 +1,565 +8,017 Cash items in process of collection (1,990) 11,400 + 249 +2,683 Bank premises 380 3 + 14 Other assets _3/ 1,834 + 98 -1,123 TOTAL ASSETS (1,990) 133,438 +1,974 +9,586 L I A B I L I T I ES Federal Reserve notes 91,812 + 583 +8,199 Deposits: Member bank-reserves account 26,826 + 454 -1,008 U.S. Treasury—general account 4,276 +1,714 +1,265 Foreign 244 - 172 - 48 Other 4/ 690 29 - 280 Total deposits 32,036 +1,967 71 Deferred availability cash items (1,990) 6,266 - 225 +1,159 Other liabilities and accrued dividends 1,150 + 20 + 208 TOTAL LIABILITIES (1,990) 131,264 +2,345 +9,495 C A P I T AL A C C O U N T S. Capital paid in 1,025 .. + 51 Surplus 983 — + 54 Other capital accounts 166 - 371 14 Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $1,291 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $69 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 1/ Includes assets denominated in foreign currencies. 4/ Includes $20 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. December 7. 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 548 294 4,891 + 941 149 -143 16 days to 90 days 40 20,064 +1,861 343 + 52 91 days to 1 year 29,390 - 865 846 + 10 Over 1 year to 5 years 26,888 — 3,726 — Over 5 years to 10 years 10,222 -- 1,492 — Over 10 years 6,959 — 882233 — Total 588 294 98,414 +1,937 77,,337799 - 81 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 December 7, 1977 New Phila- Cleve- Rich St. Minne- Kansas San Total Boston York delphia land I mond Atlanta Chicago Louis apolis City Dallas Francisco. (In millions of dollars) A S S E TS Gold certificate account 11,658 541 3,432 631 934 982 560 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 291 16 20 13 39 28 29 20 28 9 42 13 34 Loans 588 25 267 22 3 16 24 47 31 25 56 71 1 Acceptances: Bought outright — -- -- — — -- -- -- -- -- -- — -- Held under repurchase agreements 294 — 294 — -- -- — -- -- — — -- -- 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 50 -- 50 -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright— Bills 39,428 1,842 9,306 2,104 3,300 3,224 1,946 6,316 1,673 965 1,582 1,971 5,199 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 outri^it J./2/ 97,785 4,569 23,079 5,217 8,185 7,995 4,827 15,665 4,150 2 ,394 3,923 4,889 12,892 Held und-sr repurchase agreements 629 — 629 __ -- — -- — — -- — — -- Total U.S. Government securities 98,414 4,569 23,708 5,217 8,185 7,995 4,827 15,665 4,150 2 ,394 3,923 4,889 12,892 Total loans and securities 106,675 4,937 26,049 5,630 8.802 8,610 5,213 16,886 4,492 2 ,598 4,273 5,326 13,859 Cash items in process of collection 13,390 450 1,687 378 670 1,959 1,468 1,820 710 619 1,091 1,044 1,494 Bank premises 380 111 10 56 21 70 14 16 13 30 18 12 9 Other assets 3^/ 1,834 80 434 85 120 153 205 215 70 41 68 83 280 Interdistrict settlement account j -0- i - 130 + 848 - 400 - 350 + 70 - 827 - 157 - 483 -_1 62 - 19 - 472 +2,082 TOTAL 135,428 6,065 32,780 6,4*4 10,339 11,981 6,724 20,726 5,349 3 ,384 5,908 6,508 19,200 \J Excludes $1,291 million of «^.curities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2_l Includes $69 million pocvrities 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 DECEMBER 7, 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 I T I ES Federal Reserve notes 91,812 4,634 23,447 4,915 7,955 8,321 3,583 15,187 3,867 1,947 3,405 3,983 10,568 Deposits: Member bank reserves 26,826 779 6,176 900 1,561 1,258 1,528 3,601 . 818 616 1,142 1,606 6,841 U.S. Treasury--general account 4,276 192 685 248 217 490 344 663 165 196 363 191 522 Foreign 244 10 1/ 39 12 24 15 21 41 9 8 12 15 38 Other 2/ 690 1 582 4 15 47 4 7 1 2 10 17 Total deposits 32,036 982 7,482 1,164 1,802 1,778 1,940 4,309 999 821 1,519 1,822 Deferred availability cash items 8,256 325 1,016 237 313 1,647 981 733 362 527 853 504 758 Other liabilities and accured dividends 1,150 54 272 53 84 115 59 164 52 26 40 77 154 TOTAL LIABILITIES 133,254 5,995 32,217 6,369 10,154 11,861 6,563 20,393 5,280 3,321 5,817 6,386 18,898 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 166 3 46 8 14 11 8 28 4 4 7 9 24 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 135,428 6,065 32,780 6,464 10,339 11,981 6,724 20,726 5,349 3,384 5,908 6,508 19,200 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 4,857 24,260 5,294 8,284 8,630 4,527 15,539 4,058 2,015 3,681 4,388 11,398 Collateral for F.R. notes: Gold certificate account 541 3,431 632 933 982 559 1,736 468 225 393 456 1,298 Special Drawing Rights certif. acct, 60 300 103 109 62 50 24 42 46 59 Acceptances U.S. Government securities 4,300 20,650 4,700 7,500 7,600 4,000 14,000 3,600 1,810 3,300 3,975 10,100 Total collateral 4,901 24,381 5,332 8,536 8,691 4,621 15,736 4,118 2,059 3,735 4,477 11,457 1/ After deducting $205 million participations of other Federal Reserve Banks 2/ Includes $20 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