H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and ••.fSnss? Condition Statement of F.R. Banks H.4.1 For immediate release March 23, 1978 Averages of <i aily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Mar. 22, Mar. 15, Mari9??' March 22, and related items 1§78 1§78 1978 Reserve Bank credit: If (In millions of dollars) 1/ U.S. Government securities-- Bought outright--System account 99,585 +2 ,037 +4,720 99,984 Held under repurchase agreements 1,370 +1 ,370 - 523 763 Federal Agency oblications-- Bought outright 7,935 9 +1,191 ' 7,929 Held under repurchase agreements 399 + 399 + 365 260 Acceptances-- Bought outright - 168 Held under repurchase agreements 378 + 378 + 205 181 Loans-- Total member bank borrowing 281 + 33 57 356 Includes seasonal borrowing of: 47 + 7 + 34 50 Other borrowing Float 4,079 - 416 +1,073 4,810 Other F.R. assets 380 2,318 Total Reserve Bank credit 116, 439 +4,172 +6 ,420 116,601 Gold Stock 11, 718 + 71 11,718 Special Drawing Rights certif. acct. 1 250 + 50 1,250 Treasury currency outstanding 11 461 + 492 11,464 140,868 +4,174 +7,034 141,033 Currency in circulation * 102,164 + 116 +9,078 102,462 Treasury cash holdings * 399 + 6 93 400 Treasury deposits with F.R. Banks 5,394 +2,839 -4,406 6,689 Foreign deposits with F.R. Banks 263 - 48 + 12 248 Other deposits with F.R. Banks 3/ 797 33 + 148 631 Other F.R. liabilities and capital 4,148 - 59 + 875 3,901 113,164 +2,820 +5,613 114,331 Member bank reserves: With Federal Reserve Banks 27,704 +1,353 +1,422 26,703 Currency and coin 8,464 -1,084 + 972 8,464 Total reserves held 4/ 36,251 + 273 +2,330 35,250 Required reserves 36,128 + 278 +2,284 ' 36,128 Excess reserves 4/ 123 5 + 46 - 878 NOTE: A net of $40 million of surplus reserves were eligible to be carried forward from the week ended March 15, into the week ending March 22. On March 22, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $87,982 million, an increase of $1,789 million for the week. XI Net of $1,315 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,315 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2/ Net of $916 million matched sale-purchase transactions outstanding at the end of the latest statement week,of which $916 million was with foreign official and international accounts. Includes $188 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 $83 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 Change since Mar. 22, Mar,. 15, Mar. 23, A S S E TS 1978 1978 1977 Gold certificate account 11,718 -_ + 82 Special Drawing Rights certif. acct. 1,250 -- + 50 Coin 329 - 1 - 41 Loans ,g$. >^ 4?: 356 - 57 -1,839 t Acceptances—Bought outright -- -_ - 161 Held under repurchase agreements 181 + 181 - 118 Federal Agency obligations--Bought outright 7,929 - 9 +1,185 Held under repurchase agreements 17 260 + 260 + 101 U.S. Government securities: Bought outright--Bills 39,046 +2 ,183 + 568 Certificates — — -- Notes 51,486 + 970 +2,305 Bonds JM52 +__ 54 +JU256 Total bought outright 2/ 99,984 +3,207 +5,129 Held under repurchase agreements J7 763 + 763 -4,246 Total U.S. Government securities 100,747 +3,970 + 883 Total loans and securities 109,473 +4,345 + 51 Cash items in process of collection (2,010) 10,843 -1,168 +2,540 Bank premises 384 + 1 + 10 Other assets \J 1,934 + 246 - 613 TOTAL ASSETS (2,010) 135,931 +3,423 +2,079 L I A B I L I T I ES 91,726 + 55 +8,625 Federal Reserve notes Deposits: Member bank-reserves account 26,703 77 -3,767 6,689 +5,107 -4,075 U.S. Treasury—general account 248 - 52 13 Foreign 631 - 310 + 106 Other N 34,271 +4,668 -7,749 Total deposits (2,010) 6,033 - 623 + 648 Deferred availability cash items 1,393 - 816 + 397 Other liabilities and accrued dividends (2,010) 133,423 +3,284 +1,921 TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in 1,046 + 55 Surplus 1,029 + 46 Other capital accounts 433 + 139 + 57 Figures in parentheses are the eliminations made in the consolidating process. 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 $960 million was outstanding at the end of the latest statement week. 2/ Net of $916 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $188 million securities loaned— fully secured by U.S. Government securities. 3/ Includes assets denominated in foriegn currencies. 4/ Includes $17 million of certain deposits of foreign-owned banking institu tions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. March 22, 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 Loan 8 Accept securities obligations ances Holdings Weekly Holdings Weekly [changes changes Within 15 days 344 181 5,341 +2 ,434 301 +292 16 days to 90 days 12 17,914 + 446 233 - 41 91 days to 1 year 30,703 + 313 1,110 - 1 Over 1 year to 5 years 29,272 + 448 4,044 + 1 Over 5 years to 10 years 9,846 + 275 1,624 + 3 Over 10 years 7,671 + 54 877 - 3 Total 356 181 100,747 +3,970 8,189 +251 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 22, 1978 New Phila- Cleve- Rich St. Minne- Kansas San Total Boston York delphia land 1 mond Atlanta Chicago Louis apo lis 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 43 149 Coin 329 22 22 18 46 29 31 25 21 10 46 1'+ 4j Loans 356 78 28 24 13 24 37 37 14 9 23 53 16 Acceptances: Bought outright -- -- -- -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements 181 -- 181 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 7,929 371 1,871 423 664 648 391 1,270 337 194 318 397 1,045 Held under repurchase agreements J7 260 -. 260 -- -- -- -- -- -- -- -- -- -•- U.S. Government securities: Bought outright — Bills 39,046 1,825 9,216 2,083 3,268 3,192 1,927 6,255 1,657 956 1,567 1,952 5,148 Certificates -- -- -- -- -- -- -- — -- _» -- -- __ Notes 51,486 2,406 12,152 2,747 4,310 4,209 2,542 8,248 2,185 1 ,260 2,065 2,574 6,788 Bonds 9,452 442 2,231 504 791 773 467 1,514 401 231 379 473 1,246 4/ Total bought outright 2/ 99,984 4,673 23,599 5,334 8,369 8,174 4,936 16,017 4,243 2 ,447 4,011 4,999 13,182 Held under repurchase agreements yyy ... 763 .- 763 -- .- -- -- -- -- -- -- -- -- Total U.S. Government securities 100,747 4,673 24,362 5,334 8,369 8t174 4,936 16,017 4,243 2 ,447 4,011 4,999 13,182 Total loans and securities 109,473 5,122 26,702 5,781 9,046 8,846 5,364 17,324 4,594 2 ,650 4,352 5,449 14,243 Cash items in process of collection 12,853 369 1,394 . 401 579 1,937 1,369 1,568 568 569 1,074 851 2,174 Hank premises 384 107 10 56 23 76 14 16 13 29 19 12 9 Other assets 3/ 1,934 83 444 92 140 130 141 242 69 43 67 92 391 In*:p*-di.strict "settlement account -0- - 231 + 462 - 818 - 317 - 205 - 572 + 295 - 199 - 123 •f 19 + 193 + 1,496 TOTAL 137,941 6,075 32,839 6,235 10,558 11,908 6,971 21,404 5,588 3 ,428 6,014 7,115 19,806 _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 $960 million was outstanding at the end of the latest statement week. 2^/ Net of $916 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $188 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

tf.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 22, 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 E S. Federal Reserve notes 91,726 4,734 23,686 4,796 7,875 8,290 3,325 15,245 3,920 1,929 3,468 4,000 10,458 Deposits: Member bank reserves 26,703 633 5.020 822 1,518 1,311 1,978 3,805 835 697 1,323 1,884 6,877 1,155 U.S. Treasury—general account 6,689 267 1,839 205 318 279 456 1,000 311 184 215 460 39 Foreign 248 8 1/ 43 12 23 15 21 42 9 8 12 16 11 Other 2/ 631 1 " 516 1 1 26 54 8 1 2 2 8_ Total deposits 34,271 909 7,418 1,040 1,860 1,631 2,509 4,855 1,156 891 1,552 2,368 8,082 Deferred availability cash items 8,043 292 807 228 397 1,684 874 744 375 505 845 547 745 Other liabilities and accured dividends 1.393 58 278 60 212 159 86 176 55 30 45 61 173 TOTAL LIABILITIES 135,433 5,993 32,189 6,124 10,344 11,764 6,794 21,020 5,506 3,355 5,910 6,976 19,458 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 433 18 109 23 37 34 20 68 18 10 17 22 57 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 137,941 6,075 32,839 6,235 10,558 11,908 6,971 21,404 5,588 3,428 6,014 7,115 19,80* FEDERAL RESERVE AGEOTS' ACCOUNTS F.R. notes outstanding 1 103,262 11 5,554 25,436 5,511. — 8, Sol M51 4,476 16,733 4,413 2,173 4,372 4,yb5— TZTTB5 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 certlf. acct. 1,250 62 313 74 1C7 113 64 198 53 25 44 48 149 Eligible Paper 338 76 27 25 13 24 36 28 14 6 23 51 15 U.S. Government securities 89.956 3/4,875 21,604 4j781 7j449 7.832 3.816 14.771 3.877 1.917 3.912 4,400 10.722 Total collateral 103,262 5,554 25,436 5,511 8,503 8,951 4,476 16,733 4,413 2,173 4,372 4,955 12,185 U After deducting $205 million participations of other Federal Reserve Banks. 2/ Includes $17 million of certain deposits of foreign-owned banking institutions voluntarily held with member bank8 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