H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and ••.f^r^^ Condition Statement of F.R. Banks H.4.1 For immediate release December 15, 1977 Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Dec. 14, Dec. 7, Dec. 15, Dec. 14, 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 97,416 +342 +6,655 94,557 Held under repurchase agreements — -902 - 783 "" Federal Agency obligations-- Bought outright 7,319 - 10 + 519 7,305 Held under repurchase agreements — - 35 - 25 — Acceptances— Bought outright -« -- - 190' .... Held under repurchase agreements — -171 - 68 1 Loans-- Total member bank borrowing 509 - 74 + 440 1,236 Includes seasonal borrowing of: 56 - 14 + 43 57 Other borrowing Float 5,225 +324 +2,399 6,293 Other F.R, assets _? J37 + 34 -1,066 2,184 Total Reserve Bank credit 112,606 -492 +7,881 111,575 Gold Stock 11,718 + 96 + 120 11,718 Special Drawing Rights certif. acct. 1,200 -. «.. 1,200 Treasury currency outstanding 11,348 + 4 + 486 11,351 136,872 -393 +8,487 135,844 Currency in circulation 102,509 +779 +8,849 102,989 Treasury cash holdings 450 — - 15 450 Treasury deposits with F.R. Banks 3,210 -946 - 232 2,744 Foreign deposits with F.R, Banks 270 - 46 1 291 Other deposits with F.R, BankvS 4/ 620 - 41 - 426 704 Other F.R, liabilities and capital 3,408 -144 + 274 3,508 110,466 -399 +8,447 110,686 Member bank reserves: With Federal Reserve Banks 26,406 + 7 + 41 25,158 Currency and coin 9,822 +566 + 891 9,822 Total reserves held 5/ 36,286 +570 + 830 35,038 Required reserves 35,982 +301 + 993 1 35,982 Excess reserves 5/ 304 +269 - 163 944 NOTE: A net of $32 million of surplus reserves were eligible to be carried forward from the week ended December 7, into the week ending December 14. On December 14, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $75 852 million, an increase of $846 million for the week. 1/ Ne^°f $1:!?61 million> daily average, matched sale-purchase transactions outstanding during the statement week. , 2/ EX™i^%$4,?7° mlliion °f sec^ties sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Inni1^eSM $64^iI1i°n securities loaned-fully secured by U.S. Government securities pledged with Federal Reserve Banks. 4/ I n^! $2? "i1^011.0! Certain deP°*its of foreign-owned banking institutions Banks ^ memb6r bankS ^ redeP°sited in ^11 with Federal Reserve 5/ Adjusted to include $58 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. 14, Dec. 7, Dec. 15, •'>•• *:: A S S E TS 1977 1977 1976 Gold certificate account 1,718 + 60 + 120 Special Drawing Rights certify acct. 1,200 — -- Coin 294 + 3 - 64 Loans 1,236 4. 648 + 907 Acceptances--Bought outright — — - 195 Held under repurchase agreements — - 294 - 349 Federal Agency obligations--Bought outright 7,305 - 24 + 511 Held under repurchase agreements -- - 50 - 100 U.S. Government securities: Bought outright—Bills 36,200 -3,228 -1,511 Certificates Notes 49,616 -_ +2,527 Bonds 88,,774411 — +2,162 Total bought outright 1/2/ 9944,,555577 -3,228 +3,178 Held under repurchase agreements -- -2,934 Total U.S. Government securities 94,557 --33,,885577 + 244 Total loans and securities 103,098 -3,577 +1,018 Cash items in process of collection (2,267) 13,103 +1,703 +2,632 Bank premises 383 + 3 + 17 Other assets V 1,801 - 33 - 993 TOTAL ASSETS (2,267) 131,597 -1,841 +2,730 L I A B I L i T I . ES Federal Reserve notes 92,382 + 570 +8,348 Deposits: Member bank-reserves account 25,158 -1,668 -5,612 U.S. Treasury-general account 2,744 -1,532 - 584 Foreign 291 + 47 - 44 Other V 704 + 14 - 181 Total deposits 28,897 -3,139 -6,421 Deferred availability cash items (2,267) 6,810 + 544 + 514 Other liabilities and accrued dividends 1,212 + 62 + 189 TOTAL LIABILITIES (2,267) 129,301 -1,963 +2,630 C A P I T AL A C C O U N TS _. _ Capital paid in 1,025 + 50 Surplus 983 -- + 54 Other capital accounts 288 + 122 4 -k Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $4,870 million of securities sold, and scheduled to be bought: back, under matched sale-purchase transactions. 2/ Includes $64 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. II 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 14, 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 Loan 8 Accept- securities obligations ances Holdings Weekly Holdings Weekly changes changes Within 15 days 1,206 2,203 -2,688 9 -140 16 days to 90 days 30 17,842 -2,222 503 + 160 91 days to 1 year 30,443 +1,053 749 - 97 Over 1 year to 5 years 26,888 -- 3,763 + 37 Over 5 years to 10 years 10,222 -- 1,469 - 23 Over 10 years 6,959 -- 812 - 11 Total 1,236 94,557 -3,857 7,305 - 74 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 14, 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 11,718 541 3,492 631 934 982 560 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 46 143 294 16 20 14 40 27 29 22 29 10 42 12 33 Coin Loans 1,236 21 661 35 — 63 48 90 15 13 59 88 143 Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations-- Bought outright 7,305 341 1,724 390 612 597 361 1,170 310 179 293 365 963 Held under repurchase agreements __. ~" "" - — .- "" ~ " U.S. Government securities: Bought outright— 36,200 1,692 8,544 1,932 3,030 2,959 1,787 5,799 1,536 886 1,452 1,810 4,773 Bills CCCeeerrrtttiiifffiiicccaaattteeesss 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 NNNooottteeesss 8,741 408 2,063 466 7*2 715 432 1,400 371 214 351 437 1,152 BBBooonnndddsss TTToootttaaalll bbbooouuuggghhhttt ooouuutttrrriiiggghhhttt ...111///222/// 94,557 4,419 22,317 5,045 7,915 7,730 4,668 15,148 4,013 2,315 3,793 4,728 12,466 Held under repurchase agreements -- -- -- -- -- -- -- — -- _- -- -- -- Total U.S. Government securities 94,557 4,419 22,317 5,045 7,915 7,730 4,668 15,148 4,013 2,315 3,793 4,728 12,466 Total loans and securities 103,098 4,781 24,702 5,470 8,527 8,390 5,077 16,408 4,338 2,507 4,145 5,181 13,572 Cash items in process of collection 15,370 473 2,342 388 750 2,001 1,630 2,388 681 750 1,176 892 1,879 Bank premises 383 111 10 56 24 70 14 16 13 30 18 12 9 Other assets 3/ 1,801 80 399 86 127 134 113 244 69 47 66 160 276 Interdistrict settlement account -0- + 61 +1,257 - 175 + 15 + 108 - 599 - 647 - 286 - 235 + 128 - 198 + 571 TOTAL 133,864 6,123 32,522 6,541 10,520 11,821 6,906 20,357 5,363 3,358 6,010 6,561 17,782 1/ Excludes $4,870 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. ~2/ Includes $64 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 37 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 14, 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 92,382 4 ,682 23,599 4,945 8,010 8,348 3,593 15,286 3,*83 1,9*5 3,^24 3,997 10,650 Deposits: Member bank reserves 25,158 816 5,790 1,009 1,566 1,276 1,783 3,210 814 601 1,232 1,646 5,415 U.S. Trea^ury--general account 2,744 164 514 185 271 241 2^0 201 139 128 215 168 278 Foreign 291 10 1/ 86 12 24 15 21 41 9 o 12 15 38 Other 2/ 704 1 599 2 12 60 5 1 2 2 6 14 Total deposits 28,897 991 6,989 1,208 1,861 1,544 2,104 3,457 963 739 1,461 1,835 5,745 Deferred availability cash items 9,077 323 1,075 230 365 1,701 976 1,091 388 560 987 538 843 Other liabilities and accured dividends 1,212 52 266 57 89 98 66 170 55 28 42 63 226 TOTAL LIABILITIES 131,568 6 ,048 31,929 6,440 10,325 11,691 6,739 20,004 5,289 3,292 5,914 6,433 17,464 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 288 8 76 14 24 21 14 48 9 7 12 15 40 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 133,864 6 ,123 32,522 6,541 10,520 11,821 6,906 20,357 5,363 3,358 6,010 6,561 17,782 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 97,528 4,855 " 24,444 5,340 8,286 8,665 4,495 15,641 4,111 2,030 3,702 4,451 11,508 Collateral for F.R. notes: Gold certificate account 11,714 541 3,491 632 933 982 559 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 86,335 4,300 20,850 4,800 7,500 7,650 4,000 14,000 3,650 2,010 3,300 3,975 10.300 Total collateral 98,904 4,901 24,641 5,432 8,536 8,741 4,621 15,736 4,16R 2,259 3,735 4,477 11,657 JJi _ After deducting $205 million participations of other Federal Reserve Banks. 27 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