H.4.1 Factors Affecting Reserve Balances of Depository Institutions

&S3& FEDERAL RESERVE Factors Affecting Bank Reserves and • f^Ttt^-- Condition Statement of F.R. Banks For immediate release K.4.1 December 29, 1977 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Dec. 28, Dec. 21, Dec. 29, Dec. 28, and related items 1977 1977 1976 1977 Reserve Bank credit: 1/ (In millions of dollar8)"" 2/3/ ~"~ U.Si Government securities-- Bought outright—System account 100,990 +1,486 +9,199 101,063 Held under repurchase agreements 2,375 +1,347 -3,112 4,619 Federal Agency obligations-- Bought outright 8,013 + 708 +1,219 8,013 Held under repurchase agreements 565 + 419 + 283 812 Acceptances-- Bought outright - 195 Held under repurchase agreements 589 319 - 26 734 Loans— Total member bank borrowing 686 158 604 1,909 Includes seasonal borrowing of: 53 42 54 Other borrowing Float 6,196 + 589 +1 ,972 5,355 Other F.R. assets 2,400 + 154 - 791 2,403 Total Reserve Bank credit 121,815 +5 ,182 +9 153 124,908 v Gold Stock 11,718 + 120 11,718 Special Drawing Rights cert if. sect* 1,214 + 14 -f 14 1,250 Treasury currency outstanding 11,364 + 5 + 483 11,364 146,111 +5,201 +9,770 149,240 Currency in circulation 103,657 + 716 +9,362 104,352 Treasury cash holdings 45G 14 450 Treasury deposits with F.R* Banile 9,346 +4,042 - 435 7,664 Foreign deposits with F.R. Danks 297 + 17 - 88 •327 Other deposits with F.R. Banks 4/ 581 39 - 301 630 Other F.R. liabilities and capital 4,331 + 659 + 839 3,902 118~662 +5 ,397 +9 ,"365 117,325 Member bank reserves: With Federal Reserve Banks 27,451 195 408 31,916 Currency and coin 9,357 + 432 725 9,357 Total reserves held 5/ 36,866 236 +1,032 41,331 Required reserves 36,558 129 +1,072 36,558 Excess reserves 5/ 308 107 - 40 4,773 NOTE: A net of $114 million of surplus reserves were eligible to be can ice' forward from the week ended December 21, into the week ending December 28. On December 28, 1977, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $76,347 million, an increase of $8 million for the week. 1/ Net of $1,136 million, daily average, matched sale-purchase transact ions out standing during the statement week. If Excludes $1,227 million of securities sold, and scheduled to be boug lit back, under matched sale-purchase transactions. 3/ Includes $117 million securities loaned—fully secured by U.S. Gover mncnt sec url, ties pledged with Federal Reserve Banks. 4/ Includes $20 million of certain deposits of loreigc-ounce liking i nc:.itu* ic: voluntarily held with member banks and redepositcc in. lull with Ic dcrol IV:;\ c\ vc Banks. 5/ Adjusted to include $58 million waivers of pc.\iltic£ fo*. restive c H' if. ;•:: accordance with F>oard policy effective Nov.^lci 11, 1975. " 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 Dec, 28, Dec . 21, Dec. 29, ASSETS 1977 1977 1976 Gold certificate account 11,718 -- + 120 Special Drawing Rights certif. acct. * 1.250 + 50 + 50 Coin 281 - 9 76 Loans 1,909 + 871 + 1,534 Acceptances--Bought outright „- ... 196 Held under repurchase agreements 734 + 265 87 Federal Agency obligations—Bought outright 8,013 .!. 708 + 1,219 Held under repurchase agreements 812 + 566 + 403 U.S. Government securities: Bought outright—Bills 41,706 41,475 4,361 Certificates Notes 50,509 -- + 3,039 Bonds 8,848 ... + 2,158 Total bought outright U2L' 101,063 +1,475 + 9,558 Held under repurchase agreements -A£H +2,230 - 4,835 Total U.S. Government securities 105.682 +3,705 +4,723 Total loans and securities 117,150 +6,115 + 7,596 Cash items in process of collection (Z 147) 13,222 -1,278 + 4,252 s Bank premises 377 7 + 14 Other assets \l 2*026 + 80 -• 853 TOTAL ASSETS (2,147) 146,024 +4.957 +11,103 LIABILITIES Federal Reserve notes 93,718 + 751 + 9,224 Deposits: • Member bank-reserves account 31,916 ;3,93C + 1,559 IKS. Treasury—general account 7,664 - 537 - 2,020 Foreign 327 + 42 + 70 Other 4/ 630 + 99 - 302 Total deposits 40,537 +3,542 - 693 Deferred availability cash items (2,147) 7,867 + 422 + 2,237 Other liabilities and accrued dividends 1.341 + 1.09 -I 189 TOTAL LIABILITIES (2,147) 143 s 463 +4,024 +10,957 C A P I T AL A C C O U N T S? Capital paid, in 1 .027 43 Surplus 983 54 Other capital recounts 551 49 * Figures ir parentheses are the climinaticnr mace in the consolidating process, 1/ Excludes J 1,227 million of securities sold, and scheduled to be bc^g'il beck, under matched sale-purchase transactions. _2/ Includes $117 n.:* II ion securities loaned— fully secured by U.£* Gov: vw sccuritier pledged with Federal Reserve Banks. ^3/ Includes assetx denominated in foreign currencies. kj Includes $20 nil lion of certain depositr of foreign'-owned banking ir itL tutions voluntarily held with member banks and redeposited in full rcith Federal Reserve Banks. MATURITY DISTRIBUTION' OF LOANS AND SECURITIES, DECEMBER 28, 1977 (Acceptances and securities held under repurchase agreements are classified as maturing xd. thin 15 days in accordance with naximuvj maturity of the agreements.) U. 1. Government Federal Agency Loans Accept- \ securities obligations anccs Holdings Weekly Holdings Weekly changeAI changes Within 15 days 1,904 734 9,496 910 + 566 16 days to 9C days 5 — 18,885 -1,077 423 91 days to 1 year -- -- 32.330 +1,649 740 Over 1 year to 5 years -- «- 27,516 4,149 + 386 Over 5 years to 10 years -- — 10,386 1,646 + 177 Over 10 years -- -- 7,067 957 + 145 Total 1,90 9 734 105,682 +3,705 8,825 +1,274 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 28, 1977 j New Phila- Cleve- Rich __ Minne- Kansas San Total Boston 1 York delphia land 1 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. 1,250 62 313 74 107 113 64 198 53 25 44 48 149 Coin 281 18 17 13 39 27 26 24 20 9 43 13 32 Loans 1,909 185 333 195 108 144 61 547 49 13 65 147 62 Acceptances: Bought outright -- -- — -- -- -- -- -- -- -- -~ -- -- Held under repurchase agreements 734 -- 734 -- -- -- -- -- -- -- -- — -- Federal Agency obligations- Bought outright 8,013 374 1,891 428 671 655 396 1,284 340 196 321 401 1,056 Held under repurchase agreements 812 -- 812 '-- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 41,706 1,949 9,844 2,225 3,491 3,410 2,058 6,682 1,770 1,021 1,673 2,085 5,498 Certificates -- -- „_ -- -- _„ -- -- -- -- __ -- -- Notes 50,509 2,360 11,921 2,695 4,228 4,129 2,494 8,091 2,143 1,237 2,026 2.526 6,659 Bonds 8,848 413 2,088 472 ___ 741 723 437 1,417 376 217 355 442 1,167 Total bought outright 1/2/ 101,063 4,722 23,853 5,392 8,460 8,262 4,989 16,190 4,289 2,475 4,054 5,053 13,324 Held under repurchase agreements 4,619 -- 4,619 -- -- -- -- -- -- _- _> -- -- Total U.S. Government securities 105,682 "4,722 28,472 5,392 8,460 8,262 4,989 16,190 4,289 2,475 4,054 5,053 13,324 Total loans and securities 117,150 5,281 32,242 6,015 9,239 9,061 5,446 18,021 4,678 2,684 4,440 5,601 14,442 Cash items in process of collection 15,369 467 1,978 361 641 2,085 1,944 2,141 607 879 1,290 1,032 1,944 Bank premises 377 106 .10 56 24 71 14 16 13" 29 18 11 9 Other assets _3/ 2,026 92 502 103 139 165 148 262 74 57 74 88 322 Interdistriit settlement account -0" 4- 334 -1,425 - 654 - 457 - 18 - 581 + 183 - 103 - 334 + 392 + 377 +2,286 TOTAL 148,171 6,901 37,129 6,599 10,666 12,486 7,621 22,581 5,811 3,574 6,694 7,626 20,483 1/ Excludes $1,227 million of securities sold, and sch eduled to be bought back, under matched sale-purchase transactions, 2/ Includes $117 million securities loaned — fully sec ured 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 28, 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 93,718 4,738 23,822 4,961 8,015 8,458 3,812 15,470 3,933 1,999 3,485 4,111 10,914 Deposits; Member bank reserves 31,916 1,317 7,352 891 1,454 1,512 2,171 4,924 963 736 1,438 2,117 7,041 U.S. Treasury--general account 7,664 339 3,077 277 399 301 234 594 343 212 554 526 808 Foreign 327 10 1/ 122 12 24 15 21 41 9 8 12 15 38 Other 2/ 630 1 524 14 1 10 45 7 1 1 1 6 19 Total deposits 40,537 1,667 11,075 1,194 1,878 1,838 2,471 5,566 1,316 957 2,005 2,664 7,906 Deferred availability cash items 10,014 356 1,163 269 461 1,931 1,080 969 429 516 1,053 654 1,133 Other liabilities and accured dividends 1,341 53 411 60 95 107 79 181 47 30 45 56 177 TOTAL LIABILITIES 145,610 6,814 36 471 6,484 10,449 12,334 7,442 22,186 5,725 3,502 6,588 7,485 20,130 3 CAPITAL ACCOUNTS Capital paid in 1,027 32 266 44 87 55 78 157 32 31 43 58 144 Surplus 983 35 251 43 84 54 75 148 33 29 41 55 135 Other capital accounts 551 20 141 28 46 43 26 90 21 12 22 28 74 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 148,171 6,901 37,129 6,599 10,666 12,486 7,621 22,581 5,811 3,574 6,694 7,626 20,483 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 99,479 4,930 24,613 5,390 8,361 8,805 4,562 16,118 4,335 2,052 3,983 4,527 11,803 Collateral for F.R. notes: Gold certificate account 11,713 541 3,491 632 933 981 559 1,736 468 225 393 456 1,298 Special Drawing Rights certif. acct. 873 62 313 — 103 109 62 — 50 25 42 48 59 Acceptances — — — — — — — — — — — — — U.S. Government securities 88,685 4,350 21,050 4,800 7,500 7,850 4,000 14,500 3,850 2,010 3,700 4,075 11,000 Total collateral 101,271_ 4 953_ 24,854 5,432 8,536 8,940 4,621 16,236 4,368 2,260 4,135 4,579 12,357 i 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