H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reseryes and Condition Statement of F.R. Banks H.4.1 For immediate release March 30, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, March 29, March 22, 1 March 30, March 29, and related items 1978* 1978 1 1977 1978* Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 1/ 99,058 - 527 +4,082 E/ 99,160 Held under repurchase agreements 2,440 +1,070 + 420 [ 3,283 Federal Agency obligations-- Bought outright 7,929 6 +1,185 7,929 Held under repurchase agreements 586 + 187 + 515 832 Acceptances— Bought outright _- __ - 159 ... Held under repurchase agreements 573 + 195 + 288 607 Loans-- Total member bank borrowing 386 + 105 + 328 363 Includes seasonal borrowing of: 51 + 4 + 37 53 Other borrowing Float 4,042 - 81 +1,871 3,819 Other F.R. assets 2,248 - 164 - 635 2,319 Total Reserve Bank credit 117,262 + 779 +7,896 118,312 Gold Stock 11,718 — + 82 ! 11,718 Special Drawing Rights certif. acct. 1,250 — + 50 1,250 Treasury currency outstanding 11,470 + 9 + 484 11,480 141,700 + 788 +8,512 142,760 Currency in circulation ** 102,322 + 154 +9,309 102,738 Treasury cash holdings ** 397 + 2 - 73 400 Treasury deposits with F.R. Banks 6,528 +1,134 -2,654 4,389 Foreign deposits with F.R. Banks 282 + 19 + 23 276 Other deposits with F.R. Banks 3/ 676 - 121 + 84 765 Other F.R. liabilities and capital 3,908 - 240 + 533 3,893 114,113 + 949 +7,220 112,461 Member bank reserves: With Federal Reserve Banks 27,587 - 161 +1,291 30,299 Currency and coin 8,852 + 388 + 562 i 8,852 Total reserves held 4/ 36,520 + 225 +1,783 39,232 Required reserves 36,256 + 128 +1,852 36,256 Excess reserves 4/ 264 + 97 - 69 2,976 NOTE A net of $88 million of surplus reserves were eligible to be carried forward from the week ended March 22, into the week ending March 29. On March 29, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $88,336 million, an increase of $354 million for the week. 1/ Net of $1,865 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,865 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2/ Net of $1,819 million matched sale-purchase transactions, outstanding at the end of the latest statement week of which $1,819 million was with foreign official and international accounts. Includes $174 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. Adjusted to include $81 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. Estimated (Chicago District). •k-k 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, 29, ** Mar. 22, Mar. 30, A S. S E T & 1978 1978 1977 Gold certificate account 11,718 „- + 82 Special Drawing Rights certif. acct. 1,250 -- + 50 Coin 320 - 9 39 Loans 363 + 7 + 214 Acceptances--Bought outright .- -- - 155 Held under repurchase agreements 607 + 426 + 607 Federal Agency obligations--Bought outright 7,929 -- +1,185 Held under repurchase agreements 1/ 832 + 572 + 832 U.S. Government securities: Bought outright--Bills 38,222 824 •1,513 Certificates Notes 51,486 -- +2,305 Bonds 99,,445522 — +2,256 Total bought outright 2/ 9999,,116600 - 824 +3,048 Held under repurchase agreements 1/ 3,283 +2,520 +3,283 Total U.S. Government securities 102,443 +1,696 +6,331 Total loans and securities 112,174 +2,701 +9,014 Cash items in process of collection (1,981) 9,774 -1,069 +1,255 Bank premises 385 + 1 + 12 Other assets 3/ IIss 993344 — - 664 TOTAL ASSETS (1,981) 113377,,555555 +1,624 +9,710 LI.ABiLITI.ES Federal Reserve notes 91,978 + 252 +8,668 Deposits: Member bank-reserves account 30,299 +3,596 +3,416 U.S. Treasury—general account 4,389 -2,300 -3,380 Foreign 276 + 28 12 Other 4/ 765 + 134 + 202 Total deposits 35,729 +1,458 + 226 Deferred availability cash items (1,981) 5,955 78 + 349 Other liabilities and accrued dividends 1,306 87 + 308 TOTAL LIABILITIES (1,981) 134,968 +1,545 +9,551 CAPITAL ACCOUNTS, Capital paid in 1,048 + 2 + 58 Surplus 1,029 -. + 46 Other capital accounts 510 + 77 + 55 * 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 $ -0- million was outstanding at the end of the latest statement week. 2/ Net of $1,819 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $174 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. ** Estimated (Chicago District). MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. MARCH 29, 197S (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 Fedeial Agency Loans Accept securities obligations ances Holdings Weekly Holdings Weekly changeg changes Within 15 days 356 607 6,967 +l,62t 17 ^ +57? 16 days to 90 days 7 18,849 + 935 233 91 days to 1 year 29,838 - 865 1,110 Over 1 year to 5 yefire 29,272 4 5 044 Over 5 years to 10 years 9,846 1,624 Over 10 years 7,671 877 Total 363 607 102,443 +1,696 8,761 +572 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 29, 1978 New Phila- Cleve Rich St. Minne- Kansas San Total Boston 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 320 21 20 17 45 28 29 24 21 10 47 14 44 Loans 363 44 33 40 6 40 8 38 32 10 39 64 9 Acceptances: Bought outright ! -- -- -- — -- -- -- -- -- -- -- -- Held under repurchase agreements 607 -- 607 -- -- -- -- -- -- -- -- — -- 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 1/ 832 ._ 832 -- — -- -- -- — -- -- -- -- U.S. Government securities: Bought outright-- Bills 38,222 1,786 9,021 2,039 3,199 3,125 1,887 6,123 1,622 936 1,534 1,911 5,039 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 Total bought outright 2/ 99,160 4,634 23,404 5,290 8,300 8,107 4,896 15,885 4,208 2 ,427 3,978 4,958 4/13,073 Held under repurchase agreements 17 3,283 -- 3,283 .. -- -- _- -- -- -- -- -- -- Total U.S. Government securities 102,443 4,634 26,687 5,290 8,300 8,107 4,896 15,885 4,208 2 ,427 3,978 4,958 13,073 Total loans and securities 111122,,117744 55,,004499 3300,,003300 55,,775533 88,,997700 88,,779955 55,,229955 1177,,119933 44,,557777 22 ,,663311 44,,333355 55,,441199 14,127 Cash items in process of collection 1111,,775555 331111 11,,005577 335522 779922 22,,111177 11,,227799 11,,448811 446699 554400 991177 882266 1,614 Bank premises 385 107 10 56 23 77 14 16 13 29 19 12 9 Other assets 3/ 1,934 83 396 98 137 137 133 245 80 68 70 91 396 Interdistrict settlement account -0- + 69 -1,224 - 690 - 412 4- 226 - 456 + 635 - 143 +_ 12 + 228 4- 53 +1,702 _ TOTAL 139,536 6,243 34,094 6,291 10,596 12,475 6,918 21,528 5,539 3 ,540 6,053 6,919 19,340 * 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 $ -0- million was outstanding at the end of the latest statement week. ^2/ Net of $1,819 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $174 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 MARCH 29, 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 91,978 4,744 23,641 4,776 7,842 8,367 3,496 15,224 3,932 1,901 3,489 4,056 10,510 Deposits: Member bank reserves 30,299 886 6,828 779 1,717 1,650 1,978 4,525 884 881 1,378 1,662 7,131 U.S. Treasury—general account 4,389 223 1,190 298 284 346 225 287 252 144 246 410 484 Foreign 276 9 1/ 71 12 23 15 21 42 8 8 12 16 39 Other 2/ 765 1 638 5 1 24 57 6 2 2 1 15 13 Total deposits 35,729 1,119 8,727 1,094 2,025 2,035 2,281 4,860 1,146 1,035 1,637 2,103 7,667 Deferred availability cash items 7,936 238 721 246 417 1,763 885 871 328 500 777 556 634 Other liabilities and accured dividends 1,306 56 334i . 60 91 157 77 178 47 30 44 61 171 TOTAL LIABILITIES 136,949 6,157 33,423 6,176 10,375 12,322 6,739 21,133 5,453 3,466 5,947 6,776 18,982 CAPITAL ACCOUNTS Capital paid in 1,048 32 275 44 90 55 79 159 33 32 44 59 146 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 510 I 22 129 27 44 43 22 79 21 11 19 26 67 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 139,536 6,243 34,094> 6,291 10,596 12,475 6,918 21,528 5,539 3,540 6,053 6,919 19,340 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 103,431 5,538 25,484 5,499 8,464 8,942 4,628 16,673 4,420 2,184 4,360 5,045 12,194 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 333 33// 3388 31 40 6 32 8 29 32 8 39 62 8 U.S. Government securities 90,130 --''44,,889977 _2L.648_. _ _ 4^754 7,417 7.815 3,996 14,710 3,866 1.926 3^884 4,479 10,738 Total collateral 103,431 5,538 25,484 5,499 8,464 8,942 4,628 16,673 4,420 2,184 4,360 5,045 12,194 " FJeSde^ra'l JRieslerrvSe 1 ^Ba.n 0 k's. Certai" deP°8lt8 °' £orelgn-°Wned bankln« i»"it«tlon. voluntarily held with member banks and redeposited In full with 3/ Includes securities borrowed from other reserve banks * Estimated (Chicago District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis