H.4.1 Factors Affecting Reserve Balances of Depository Institutions

VoSSH^.. FEDERAL RESERVE Factors Affecting Bank Reserves and ^LRfc^V Condition Statement of F.R. Banks H.4.1 For immediate release March 16, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, March 15, March 8, I March 16, March 15, and related items 1978* 1978 1977 1978* Reserve Bank credit: (In millions of dollars) U.S. Government securities-- 2/ Bought outright—System account -1 97,548 273 +4,937 ~ 96,777 Held under repurchase agreements 354 Special Certificates Federal Agency oblications-- Bought outright 7,944 38 +1,200 7,938 Held under repurchase agreements 39 Acceptances-- Bought outright 174 Held under repurchase agreements 27 Loans-- Total member bank borrowing 248 - 148 + 224 413 Includes seasonal borrowing of: 40 - 7 + 29 37 Other borrowing Float 4,527 - 248 +1,711 5,437 Other F.R. assets 2,032 + 59 - 666 2,071 Total Reserve Bank credit 112,299 - 521 +7,232 112,636 Gold Stock 11,718 — + 67 11,718 Special Drawing Rights certif. acct. 1,250 — + 50 1,250 Treasury currency outstanding 11,459 + 12 + 497 j 11,461 136,726 - 509 +7,846 137,065 Currency in circulation ** 102,048 + 576 +8,964 102,416 Treasury cash holdings ** 394 + 3 - 110 400 Treasury deposits with F.R. Banks 2,555 -1, 723 -3,248 1,582 Foreign deposits with F.R. Banks 311 - 19 + 10 300 Other deposits with F.R. Banks 3/ 830 + 193 + 154 941 Other F.R. liabilities and capital 4,217 + 614 +1,086 4,646 110,355 - 355 +6,857 110,285 Member bank reserves: With Federal Reserve Banks 26,371 - 154 + 990 26,780 Currency and coin 9,548 + 445 +1,048 9,548 Total reserves held 4/ 35,998 + 291 +1,969 36,407 Required reserves 35,850 + 457 +1,989 35,850 Excess reserves 4/ 148 - 166 - 20 557 NOTE: A net of $133 million of surplus reserves were eligible to be carried forward from the week ended March 8, into the week ending March 15. On March 15, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $86,193 million, an increase of $1,501 million for the week. 1/ Net of $2,327 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,522 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2/ Net of $3,098 million matched sale-purchase transactions, outstanding at the end of the latest statement week of which $1,333 million was with foreign official and international accounts. Includes $161 million securities loaned—fully secured by U.S. Government securities. 3/ Includes $17 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 $79 million waivers of penalties for reserve deficiencies * in accordance with Board policy effective November 19, 1975. ** Estimated (Richmond District). 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 Mar. T5, Mar. 8, Mar. 16, A S S E TS 1978** 1978 1977 Gold certificate account 1,718 -- + 67 Special Drawing Rights certif. acct. * 1,250 -- + 50 Coin 330 2 - 42 Loans *• 413 - 370 + 384 Acceptances—Bought outright -- -- - 171 Held under repurchase agreements Federal Agency obligations—Bought outright 7,938 - 44 +1,194 Held under repurchase agreements \J U.S. Government securities: Bought outright--Bills 36,863 + 612 +2,583 Certificates Notes 50,516 +1,596 Bonds 9,398 _ — +2,239 Total bought outright 2/ 96,777 + 612 +6,418 Held under repurchase agreements 1/ Total U.S. Government securities 96,777 + 612 +6,418 Total loans and securities 105,128 + 198 +7,825 Cash items in process of collection (2,133) 11,895 + 120 +1,494 Bank premises 383 -- + 10 Other assets J/ 1,688 +_ 76 - 742 TOTAL ASSETS (2,133) 132,392 392 +8,662 L I A B I L I T I ES Federal Reserve notes 91,685 + 360 +8,400 Deposits: Member bank-reserves account 26,780 +1,486 +1,367 U.S. Treasury—general account 1,582 -3,001 -2,692 Foreign 300 3 + 57 Other 4/ 941 + 260 + 160 Total deposits 29,603 -1,258 -1,108 Deferred availability cash items (2,133) 6,458 + 403 85 Other liabilities and accrued dividends 2,277 + 758 +1,324 TOTAL LIABILITIES (2,133) 130,023 + 263 +8,531 C A P I T AL ACCOUNTS Capital paid in 1,046 + 2 + 56 Surplus 1,029 — + 46 Other capital accounts 294 + 127 + 29 * Figures in parentheses are the eliminations made in the consolidating process. Estimated (Richmond 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 $-0- million was outstanding at the end of the latest statement week. 2/ Net of $3,098 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $161 million securities loaned-fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. 4/ Includes $17 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. March 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 353 2,907 + 847 9 -169 16 days to 90 days 60 17,468 - 361 274 + 98 91 days to 1 year 30,390 + 126 1,111 - 47 Over 1 year to 5 years 28,824 -- 4,043 +112 Over 5 years to 10 years 9,571 -- 1,621 - 38 Over 10 years 7,617 -- 880 — Total 413 96,777 + 612 7,938 44 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 March 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 d ollars) 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 330 22 22 18 44 30 31 25 21 10 46 15 46 Loans 413 23 59 21 12 25 24 28 42 11 13 91 64 Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations— Bought outright 7,938 371 1,874 424 664 649 392 1,272 337 194 318 397 1,046 Held under repurchase agreements 1/ U.S. Government securities: Bought outright— Bills 36,863 1,723 8,701 1,967 3,086 3,014 1,820 5,905 1,564 902 1,478 1,843 4,860 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/ Total bought outright 2/ 96,777 4,522 22,842 5,163 8,101 7,912 4,778 15,503 4,107 2 ,369 3,882 4,839 12,759 Held under repurchase agreements 1/ Total U.S. Government securities 96,777 4,522 22^842 5,163 8,101 7,912 4,778 15,503 4,107 2 ,369 3,882 4,839 _12 x 759 Total loans and securities 105,128 4,916 24,775 5,608 8,777 8,586 5,194 16,803 4,486 2 ,574 4,213 5,327 13,869 Cash items in process of collection 14,028 447 1,860 466 612 1,917 1,711 1,863 636 612 1,275 838 1,791 Bank premises 383 107 10 56 23 75 14 16 13 29 19 12 9 Other assets 2/ 1,688 78 393 97 136 121 123 221 68 45 66 84 256 Interdistrict settlement account -0- - 321 +2,651 - 667 - 567 - 357 - 751 + 733 218 - 170 - 165 + 897 TOTAL 134,525 5,852 33,516 6,283 10,066 11,467 6,632 20,111 6,479 3, 302 5,886 6,615 18,316 * Estimated (Richmond 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 $-0- million was outstanding at the end of the latest statementw eek. 2/ Net of $3,098 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $161 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

11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 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 o f dollars) L I A B I L I T I ES Federal Reserve notes 91,685 4 ,736 23,551 4,797 7,857 8,321 3,448 15,178 3,922 1,928 3,467 3,994 10,486 Deposits: 26,780 589 6,928 969 1,392 1,230 1,733 3,348 808 702 1,197 1,692 6,192 Member bank reserves 1,582 64 185 114 80 123 70 88 456 55 83 109 155 U.S. Treasury—general account 300 9 1/ 96 12 23 15 21 42 8 8 11 16 39 Foreign Other 2/ 941 1 833 1 27 51 6 1 1 1 11 8 Total deposits 29,603 663 8,042 1,095 1,496 1,395 1,875 3,484 1,273 766 1,292 1,828 6,394 Deferred availability cash items 8,591 322 1,044 228 400 1,456 1,065 910 402 509 915 581 759 Other liabilities and accured dividends 2,277 55 263 60 110 163 73 176 805 29 113 80 350 TOTAL LIABILITIES 132,156 "T,7 76 32,900 6,180 9,863 11,335 6,461 19,748 6,402 3,232 5,787 6,483 17,989 CAPITAL ACCOUNTS Capital paid in 1,046 32 274 44 90 55 79 159 32 32 44 59 146 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 294 12 75 15 26 22 14 47 13 7 12 15 36 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 134,525 5 ,852 33,516 6,283 10,066 11,467 6,632 20,111 6,479 3,302 5,886 6,615 18,316 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 103,142 5,514 25,337 5,504 8,459 8,966 4,534 16,689 4,405 2,168 4,386 4,^0 12,230 —"~ 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 396 2222 57 22 12 25 24 19 42 8 33// 1133 90 62 U.S. Government securities 89,778 ^^44,,888899 21,475 4,777 7,406 7,846 3,886 14,736 3,841 1,910 --33,,993366 4,356 10,720 Total collateral 103,142 5,514 25,337 5,504 8,459 8,966 4,534 16,689 4,405 2,168 4,386 4,950 12,230 1/ After deducting $204 million participations of other Federal Reserve Banks. ~' ^Federal^Lerv^Banks.0"^111 depOSitS of ^"ign-owned banking institutions voluntarily held with member banks and redeposited in full with 3/ Includes securities borrowed from other reserve banks. * Less than $500,000. **Estimated (Richmond District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis