H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.••ctfj^ FEDERAL RESERVE Factors Affecting Bank Reserves and -.f^TRE^ Condition Statement of F.R. Banks H.4.1 For immediate release January 19, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Jan. 18, Jan. 11, 1 Jan. 19, Jan. 18, and related items 1978 1978 1 1977 1978 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright--System account 1/ 100,105 + 792 + 8,864 . 2/3/99,615 Held under repurchase agreements 377 + 55 - 1,307 343 Federal Agency obligations- Bought outright 8,004 __ + 1,210 8,004 Held under repurchase agreements 115 + 29 + 53 218 Acceptances-- Bought outright __ __ 200 «... Held under repurchase agreements 112 - 12 29 214 Loans-- Total member bank borrowing 418 22 + 309 554 Includes seasonal borrowing of: 25 1 + 17 30 Other borrowing Float 5,663 -1,440 + 2,200 7,127 Other F.R. assets 2,557 + 161 638 2,478 Total Reserve Bank credit 117,351 - 438 +10,462 118,553 Gold Stock 11,719 -- + 61 11,719 Special Drawing Rights certif. acct. 1,250 «.«. + 50 1,250 Treasury currency outstanding 11,392 + 7 + 496 11,395 141,712 - 430 +11,069 142,917 Currency in circulation * 102,134 -1,023 + 9,485 101,903 Treasury cash holdings * 400 + 7 48 400 Treasury deposits with F.R. Banks 5,257 -1,165 526 6,155 Foreign deposits with F.R. Banks 305 - 131 + 64 253 Other deposits with F.R. Banks 4/ 759 + 112 98 641 Other F.R. liabilities and capital 3,610 + 191 + 398 3,666 112,465 -2,008 + 9,275 113,018 Member bank reserves: With Federal Reserve Banks 29,246 +1,578 + 1,794 29,898 Currency and coin 10,677 +1,135 + 1,449 1 10,677 Total reserves held 5/ 39,993 +2,719 + 3,163 40,645 Required reserves 39,556 +2,595 + 2,615 39,556 Excess reserves 5/ 437 + 124 + 548 1,089 NOTE: A net of $96 million of surplus reserves were eligible to be carried forward from the week ended January 11, into the week ending January 18. On January 18, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $79,705 million, an increase of $1,795 million for the week. 1/ Net of $2,135 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $3,023 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $129 million securities loaned--fully secured by U.S. Governmentsecurities 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 $70 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 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 J Chamnggee Jan. 18, Jan Jan. 19, A S S ET 1978 1978 1977 Gold certificate account 1,719 -- + 61 Special Drawing Rights certif. acct. 1,250 -- + 50 Coin ^ 4$ 303 + 21 - 70 Loans A Pfc^£ 554 - 236 - 89 Acceptances--Bought outright -- -- - 197 Held under repurchase agreements 214 + 214 - 42 Federal Agency obligations—Bought outright 8,004 — + 1,214 Held under repurchase agreements 218 + 218 + 118 U.S. Government securities: Bought outright-gBilfcs 40,258 +5,153 + 4,745 4£» Certificates , •*& t Notes 50,509 -- + 2,537 , # Bond s 88,,884488 -- + 2,123 Total bought outright 1/2/ 9999,,661155 +5,153 + 9,405 Held under repurchase agreements 343 + 343 - 1,001 Total U.S. Government securities 99,958 +5,496 + 8,404 Total loans and securities 108,948 +5,692 + 9,408 Cash items in process of collection (2,392) 14,118 +2,407 + 4,084 Bank premises 378 + 1 + 13 Other assets 3J 2,100 + 80 849 TOTAL ASSETS (2,392) 138,816 +8,201 +12^697 L I A B I L I T I ES Federal Reserve notes 91,212 - 998 + 8,882 Deposits: Member bank-reserves account 29,898 +7,590 + 2,350 U.S. Treasury—general account 6,155 + 795 + 32 Foreign 253 - 36 + 25 Other *y 641 19 - 143 Total deposits 36,947 +8,330 + 2,264 Deferred availability cash items (2,392) 6,991 + 669 + 1,145 Other liabilities and accrued dividends 1,272 + 72 + 291 TOTAL LIABILITIES (2,392) 136,422 +8,073 +12,582 C A P I T AL A C C O U N T S. Capital paid in 1,032 + 48 Surplus 1,029 -- + 46 Other capital accounts 333 + 128 + 21 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $3,023 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $129 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. jJ/ 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. January 18, 1978 (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 551 214 2,612 16 335 +283 16 days to 90 days 3 19,243 +4,787 348 » 65 91 days to 1 year 33,427 + 725 827 — Over 1 year to 5 years 27,221 — 4,110 — Over 5 years to 10 years 10,388 — 1,648 — Over 10 years 7,067 -- 954 -- Total 554 214 99,958 +5,496 8,222 +218 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 January 18, 1978 New Phila- Cleve Rich St. Minne- Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas iFrancisco (In millions of dollars) A IS S. ETS Gold certificate account 11,719 541 3,492 632 934 982 560 1,736 469 225 393 456 1,299 Special Drawing Rights certif. acct. 1,250 62 313 74 107 113 64 198 53 25 48 149 44 Coin 303 18 20 15 43 29 29 26 21 10 14 32 46 Loans 554 28 15 44 30 121 25 221 29 4 7 Acceptances: 22 Bought outright Held under repurchase agreements 214 214 Federal Agency obligations — Bought outright 8,004 374 1,889 427 670 655 395 1,282 340 196 321 400 1,055 Held under repurchase agreements 218 218 U.S. Government securities: Bought outright-- Bills 40,258 1,882 9,502 2,148 3,370 3,292 1,987 6,449 1,708 985 1,615 2,013 5,307 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 4/ Total bought outright J./2/ 99,615 4,655 23,511 5,315 8,339 8,144 4,918 15,957 4,227 2,439 3,996 4,981 -13,133 Held under repurchase agreements 343 343 Total U.S. Government securities 99,958 4,655 23,854 5,315 8,339 8.144 4,918 15,957 4,227 2,439 3,996 4,981 13,133 Total loans and securities 108,948 5,057 26,190 5,786 9,039 8,920 5,338 17,460 4,596 2,639 4,339 5,388 14,196 Cash items in process of collection 16,510 533 2,919 535 808 2,383 1,644 2,323 753 599 1,189 996 1,828 Bank premises 378 106 9 56 23 73 14 16 13 29 18 12 9 Other assets 3/ 2,100 100 461 107 179 170 134 289 84 53 113 104 306 Interdistrict~~settleraent account -0- - 172 +1,850 589 - 347 - 377 - 903 -1,413 - 462 41 + 97 32 +2,389 TOTAL 141,208 t 6,245 35,254 6,616 10,78^6 12,293 6,880 20,635 5,527 3,539 6,239 : 6,986 20,208 1/ Excludes $3,023 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $129 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks V Includes assets denominated in foreign currencies. 4/ Includes securities loaned to other reserve banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 18, 1978 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 91,212 4,666 23,570 4,820 7,911 8,165 3,277 15,219 3,844 1,966 3,384 3,926 10,464 Deposits: Member bank reserves 29,898 739 7,796 945 1,763 1,326 1,771 3,284 799 776 1,346 1,778 7,575 U.S. Treasury—general account I 6,155 373 1,144 407 434 475 491 656 355 158 435 508 719 Foreign 253 10 1/ 48 12 24 15 21 41 9 8 12 15 38 Other 2/ 641 1 1 510 7 19 53 8 2 2 2 18 19 Total deposits 36,947 1,123 9,498 1,371 2,221 1,835 2,336 3,989 1,165 944 1,795 2,319 8,351 Deferred availability cash items 9,383 322 1,279 258 354 1,986 1,029 871 391 531 918 550 894 Other liabilities and accured dividends 1,272 56 290 60 98 169 67 187 49 29 42 59 166 TOTAL LIABILITIES 138,814 [ 6,167 34,637 6,509 10,584 12,155 6,709 20,266 5,449 3,470 6,139 6,854 19,875 CAPITAL ACCOUNTS Capital paid in 1,032 32 268 44 87 55 78 158 32 31 44 58 145 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 333 14 82 19 28 28 15 54 14 7 13 16 43 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 141,208 6,245 35,254 6,616 10,786 12,293 6,880 20,635 5,527 3,539 6,239 6,986 20,208 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding ! 101,862 5,351 25,185 5,385 8,420 9,087 4,495 16,329 4,319 2,191 3,988 37852 12,260 "" Collateral for F.R. notes: Gold certificate account 11,719 541 3,492 632 934 982 560 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 E U. l S i . g ib G l ov e e r P n a m p e e n r t securities 88,3 5 4 4 6 7 - 3 4 / , 72 28 0 21,36 1 4 6 4^63 43 6 7^3 2 5 9 0 7,8 1 7 2 1 1 3,8 2 4 4 7 14,1 2 7 2 5 0 3,76 28 9 1,937 4 3,53 1 2 9 4,341 •/7 10,80 8 4 Total collateral 101,862 5,351 25,185 5,385 8,420 9,087 4,495 16,329 4,319 2,191 3,988 4,852 12,260 1/ After deducting $205 million parti cipations of otKeiMFeSera1 Reserve Banks. "Tl " ' 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. 3/ Includes securities borrowed from other reserve banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis