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 February 16, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Feb. 15, Feb. 8, Feb. 16, Feb. 15, and related items 1978* 1978 1977 1978* Reserve Bank credit: (In mill ions of dollars) U.S. Government securities-- Bought outright--System account 1/ 96,451 -3,169 +1,812 2/ 97,107 Held under repurchase agreements 395 - 129 - 35 2,401 Federal Agency obligations-- Bought outright 7,982 __ +1,192 7,982 Held under repurchase agreements 20 - 67 + 4 134 Acceptances— Bought outright — __ - 190 .„ Held under repurchase agreements 63 72 + 16 349 Loans-- Total member bank borrowing 282 - 213 + 153 600 Includes seasonal borrowing of: 48 — + 35 47 Other borrowing Float 6,839 +1,263 +4,407 6,195 Other F.R. assets 3,000 + 138 - 155 2,479 Total Reserve Bank credit 115,031 -2,250 +7,202 117,247 Gold Stock 11,718 -- + 60 11,718 Special Drawing Rights certif. acct. 1,250 -- + 50 1,250 Treasury currency outstanding 11,421 + 8 + 490 11,429 139,420 -2,242 +7,802 141,644 Currency in circulation ** 101,410 + 564 +9,470 101,696 Treasury cash holdings ** 393 + 3 - 109 400 Treasury deposits with F.R. Banks 5,018 -3,195 -4,284 3,710 Foreign deposits with F.R. Banks 295 + 4 19 427 Other deposits with F.R. Banks 3/ 754 - 48 + 208 831 Other F.R. liabilities and capital 3,953 + 324 + 778 4,095 111,823 -2,347 +6,042 111,159 Member bank reserves: With Federal Reserve Banks 27,597 + 105 +1,760 30,485 Currency and coin 9,728 74 +1,160 9,728 Total reserves held 4/ 37,394 + 32 +2,841 40,282 Required reserves 36,920 21 +2,531 36,920 Excess reserves 4/ 474 + 53 + 310 3,362 NOTE: A net of $188 million of surplus reserves were eligible to be carried forward from the week ended February 8, into the week ending February 15. On February 15, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $80,275 million, an increase of $819 million for the week. 1/ Net of $4,674 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,617 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2/ Net of $3,479 million matched sale-purchase transactions, outstanding at the end of the latest statement week of which $1,879 million was with foreign official and international accounts. Includes $257 million securities loaned--fully secured by U.S. Government securities. 3/ Includes $13 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. 4/ Adjusted to include $69 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Chicago District). •k-k Estimated (Treasury 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 Feb. 15, Feb. 8, Feb. 16, A S S E TS 1978** 1978 1977 Gold certificate account 1,718 — + 60 Special Drawing Rights certif. acct. * 1,250 -- + 50 Coin 343 + 3 - 45 Loans 600 + 271 - 138 Acceptances--Bought outright - 186 Held under repurchase agreements 349 + 349 + 22 Federal Agency obligations—Bought outright 7,982 -- +1, 192 Held under repurchase agreements .1/ 134 + 134 + 23 U.S. Government securities: Bought outright—Bills 7,193 + 387 -1,039 Certificates Notes 50,516 - 449 +2,197 Bonds 9,398 + 449 +2,325 Total bought outright 2/ 97,107 + 387 +3,483 Held under repurchase agreements 1/ 2,401 +2,401 - 608 Total U.S. Government securities 99,508 +2,788 +2,875 Total loans and securities 108,573 +3,542 +3,788 Cash items in process of collection (1,970) 14,140 + 363 +4,660 Bank premises 380 — + 11 2,099 ^853 - 53 Other assets 3/ TOTAL ASSETS (1,970) 138,503 +3,055 +8,471 L I A B I L I T I ES 91,010 + 315 +9,018 Federal Reserve notes 30,485 +2,761 +3,327 Deposits: Member bank-reserves account 3,710 -3,077 -7,144 U.S. Treasury—general account 427 + 156 + 132 Foreign 831 11 + 313 Other }/ 35,453 - 171 -3,372 Total deposits (1,970) 7,945 +2,457 +1,963 Deferred availability cash items 1,736 + 318 + 737 Other liabilities and accrued dividends (1,970) 136,144 +2,919 +8,346 TOTAL LIABILITIES C A P I T AL A C C O U N T S. 1,041 + 2 + 55 Capital paid in 1,029 -- + 46 Surplus 289 + 134 + 24 Other capital accounts * Figures in parentheses are the eliminations made in the consolidating process, ** Estimated (Chicago District). 1/ Does not include U.S. Government and Federal Agency securities resold under matched sale-purchase transactions to foreign official and international accounts, of which $1,879 million was outstanding at the end of the latest statement week. 2/ Net of $3,479 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $257 million securities loaned-fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. 4/ Includes $13 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. February 15, 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 586 349 4,799 - 328 264 +264 16 days to 90 days 14 17,595 +3,615 279 - 96 91 days to 1 year 30,829 -1,425 874 - 34 Over 1 year to 5 years 29,097 +1,382 4,175 -- Over 5 years to 10 years 9,571 - 906 1,644 -- Over 10 years 7,617 + 450 880 -- Total 600 349 99,508 +2,788 8,116 +134 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 February 15, 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) 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 343 21 21 20 45 32 35 29 20 10 47 18 45 Loans 600 15 257 100 14 104 10 39 12 8 29 -- 12 Acceptances: Bought outright Held under repurchase agreements 349 349 Federal Agency obligations— Bought outright 7,982 373 1,884 426 668 653 394 1,279 339 195 320 399 1,052 Held under repurchase agreements V 134 134 U.S. Government securities: Bought outright— Bills 37,193 1,738 8,779 1,985 3,113 3,041 1,836 5,958 1,578 910 1,492 1,860 4,903 Certificates Notes 50,516 2,360 11,923 2,695 4,228 4,130 2,494 8,092 2,144 1,237 2,027 2,526 6,660 Bonds 9,398 439 2,218 501 787 768 464 1,506 399 230 377 470 1,239 4/ TTToootttaaalll bbbooouuuggghhhttt ooouuutttrrriiiggghhhttt 222JJJ 97,107 4,537 22,920 5,181 8,128 7,939 4,794 15,556 4,121 2,377 3,896 4,856 12,802 HHHeeelllddd uuunnndddeeerrr rrreeepppuuurrrccchhhaaassseee aaagggrrreeeeeemmmeeennntttsss 111''' 2,401 2,401 TTToootttaaalll UUU...SSS... GGGooovvveeerrrnnnmmmeeennnttt ssseeecccuuurrriiitttiiieeesss 99,508 4,537 25,321 5,181 8,128 7,939 4,794 15,556 4,121 2,377 3,896 4,856 12,802 TTToootttaaalll llloooaaannnsss aaannnddd ssseeecccuuurrriiitttiiieeesss 108,573 4,925 27,945 5,707 8,810 8,696 5,198 16,874 4,472 2,580 4,245 5,255 13,866 CCaasshh iitteemmss iinn pprroocceessss ooff ccoolllleeccttiioonn 16,110 979 2,892 576 640 2,172 1,748 2,179 537 587 1,161 902 1,737 BBaannkk pprreemmiisseess 380 107 9 56 23 74 14 16 13 29 18 12 9 OOtthheerr aasssseettss !!'' 2,099 141 451 76 93 105 138 339 96 36 51 66 507 IInntteerrddiissttrriicctt sseettttlleemmeenntt aaccccoouunntt -0- - 804 +1,634 - 844 - 339 + 210 - 895 + 157 - 224 - 58 - 131 + 69 +1,225 140,473 5,972 36,757 6,296 10,313 12,384 6,862 21,528 5,436 3,434 5,828 6,826 18,837 TTOOTTAALL "* Estimated (Chicago District). \J Does not include U.S. Government and Federal Agency securities resold under matched sale-purchase transactions to foreign official and international accounts, of which $1,879 million was outstanding at the end of the latest statement week. 2/ Net of $3,479 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $257 million securities loaned-fully secured by U.S. Government securities. ^3/ 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

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 15, 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 91,010 4,695 23,570 4,829 7,858 8,176 3,338 15,128 3,861 1,913 3,391 3,905 10,346 Deposits: Member bank reserves 30,485 548 8,613 754 1,700 1,306 1,943 4,030 898 785 1,310 2,010 6,588 U.S. Treasury—general account 3,710 273 1,265 139 54 619 237 473 118 102 49 159 222 Foreign 427 9 1/ 222 12 23 15 21 42 9 8 11 16 39 Other 2/ 831 715 ** 1 18 42 6 17 3 13 16 Total deposits 35,453 830 10,815 905 1,778 1,958 2,243 4,551 1,025 912 1,373 2,198 6,865 Deferred availability cash items 9,915 293 1,417 396 387 1,843 1,043 1,310 428 510 922 539 827 Other liabilities and accured dividends 1,736 77 339 63 91 274 69 180 46 30 44 53 470 TOTAL LIABILITIES 138,114 5,895 36,141 6,193 10,114 12,251 6,693 21,169 5,360 3,365 5,730 6,695 18,508 CAPITAL ACCOUNTS Capital paid in 1,041 32 274 44 88 55 78 158 32 31 44 59 146 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 289 13 75 15 24 23 13 44 12 7 11 14 38 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 140,473 5,972 36,757 6,296 10,313 12,384 6,862 21,528 5,436 3,434 5,828 6,826 18,837 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 102,595 5,391 25,305 5,405 8,416 9,031 4,490 16,700 4 ,432 2,187 4,072 4,912 12,254 Collateral for F.R. notes: * 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 Eligible Paper 545 VV 1155 211 101 13 103 10 36 12 6 28 — 10 U.S. Government securities 89,082 **44,,777733 21,289 4,599 7,362 7,833 3,856 14,730 3 ,898 1,931 3,607 4,408 10,796 Total collateral 102,595 5,391 25,305 5,405 8,416 9,031 4,490 16,700 4 ,432 2,187 4,072 4,912 12,254 1/ After deducting $205 million participations of other Federal Reserve Banks. 7/ Includes $13 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. * Estimated (Chicago District). **Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis