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 April 6, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, April 5, March 29, 1 April 6, April 5, and related items 1978 1978 1 1977 1978 Reserve Bank credit: (In mill ions of dollars) U.S. Government securities-- Bought outright--System account 1/ 99,195 + 137 + 5,929 2/ 96,539 Held under repurchase agreements 2,091 - 349 + 2,028 402 Federal Agency obligations-- Bought outright 7,929 _« + 1,198 7,929 Held under repurchase agreements 349 - 237 + 341 99 Acceptances-- Bought outright -- 149 __ Held under repurchase agreements 589 + 16 + 571 193 Loans-- Total member bank borrowing 304 - 82 + 239 159 Includes seasonal borrowing of: 45 - 6 + 31 41 Other borrowing Float 3,761 _ 250 + 1,114 5,951 Other F.R. assets 2,362 + 114 - 654 2,300 Total Reserve Bank credit 116,580 - 650 +10,618 113,572 Gold Stock 11,718 -- + 82 11,718 Special Drawing Rights certif. acct. 1,250 -- + 50 1,250 Treasury currency outstanding 11,481 + 11 + 497 11,483 141,029 - 639 +11,247 138,023 Currency in circulation * 102,667 + 347 + 9,022 103,210 Treasury cash holdings * 399 + 2 67 400 Treasury deposits with F.R. Banks 5,441 -1, 087 - 417 4,938 Foreign deposits with F.R. Banks 371 + 89 + 87 585 Other deposits with F.R. Banks 3^/ 773 + 97 + 136 751 Other F.R. liabilities and capital 3,766 - 141 + 528 3,457 113,416 - 695 + 9,288 113,341 Member bank reserves: With Federal Reserve Banks 27,612 + 54 + 1,958 24,682 Currency and coin 8,946 + 94 + 469 8,946 Total reserves held 4/ 36,650 + 159 + 2,386 33,720 Required reserves 36,323 + 67 + 2,315 36,323 Excess reserves 4/ 327 + 92 + 71 - 2,603 NOTE: A net of $144 million of surplus reserves were eligible to be carried forward from the week ended March 29, into the week ending April 5. On April 5, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $88,898 million, an increase of $562 million for the week. 1/ Net of $2,593 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,814 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2/ Net of $5,444 million matched sale-purchase transactions outstanding at the end of latest statement week,of which $1,693 million was with foreign official and international accounts. Includes $199 million securities loaned—fully secured by U.S. Government securities. 3/ Includes $15 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 $92 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) WWeeddnneessddaayy Change since AApprriill 55,, Mar. 29, April 6, A S S E TS 1978 1978 1977 , Gold certificate account 11,718 -- + 82 Special Drawing Rights certif. acct. 1,250 -- + 50 Coin 309 11 31 Loans 159 - 204 + 123 Acceptances—Bought outright — — - 142 Held under repurchase agreements 193 - 414 + 193 Federal Agency obligations--Bought outright 7,929 -- + 1,198 Held under repurchase agreements \J 99 - 733 + 99 U.S. Government securities: Bought outright—Bills 35,007 -3,215 + 4,565 Certificates Notes 51,984 + 498 + 2,803 Bonds 9,548 + 96 + 2,352 Total bought outright 2/ 96,539 -2,621 + 9,720 Held under repurchase agreements JL/ 402 -2,881 + 402 Total U.S. Government securities 96,941 -5,502 +10,122 Total loans and securities 105,321 -6,853 +11,593 Cash items in process of collection (2,037) 13,198 +3,621 + 2,654 Bank premises 384 1 + 10 Other assets _3/ 1,916 18 725 TOTAL ASSETS (2,037) 134,096 -3,262 +13,633 LIABILITIES Federal Reserve notes 92,436 + 472 + 8,107 Deposits: Member bank-reserves account 24,682 -5,617 + 5,746 U.S. Treasury-general account 4,938 + 549 - 2,261 Foreign 585 + 309 + 348 Other */ 751 14 + 85 Total deposits 30,956 -4,773 + 3,918 Deferred availabiLity cash items (2,037) 7,247 + 1,471 + 1,143 Other liabilities and accrued dividends 1,265 - 37 + 365 TOTAL LIABILITIES (2,037) 131,904 -2,867 +13,533 C A P I T AL A C C O U N TS Capital paid in ".,048 „ + 57 Surplus L,029 -- + 46 Other capital accounts 11.5 - :;95 3 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 $5,444 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $199 million securities loaned — fully secured by U.S. Government securities. 2/ Includes assets denominated in foreign currencies. 4/ Includes $15 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. April 5, 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 139 193 3,101 -3,866 105 -768 16 days to 90 days 20 16,136 -2,713 257 + 24 91 days to 1 year 30,623 + 785 1,121 + 11 Over 1 year to 5 years 29,376 + 104 4,044 — Over 5 years to 10 years 9,941 + 95 1,624 -- Over 10 years 7,764 + 93 877 — Total 159 193 96,941 -5,502 8,028 -733 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 April. 5, 1.978 New Phila "cTeve- Rich 1 1 St. Minne Kansas San Total Boston York delphia land mond Atlanta 1 Chicago Louis apolis City Dallas Francisco (In millions of d ollars) A S S E TS Gold certificate account 1.1,718 641 3,392 631 934 982 560 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 309 21 21 17 44 26 27 21 20 9 46 15 42 Loans 1.59 32 7 16 8 12 4 27 17 11 12 2 11 Acceptances: Bought outright -- -- -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements 193 -- 193 -- -- -- -- -- -- -- -- -- — Federal Agency obligations-- Bought outright 7,929 37 i. 1,871 423 664 648 391 1,270 337 194 318 397 1,045 Held under repurchase agreements U 99 -- 99 -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 35,007 1,636 8,262 1,867 2,931 2,862 L,729 5,607 1 ,486 856 1,405 1,751 4,615 Certificates -- __ -- -- -- -- -- -- -- -- -- -- -- Notes 51,984 2,429 1.2.2 70 2,774 4,351 4,250 2,566 8,328 2,206 1,273 2,085 2,599 6,853 Bonds 9,548 446 2,254 509 799 781 471 1,530 405 234 383 477 1,259 4/ Total bought outright 2/ 96,539 4,511 22,786 5,1.50 8,081 7,893 4,766 15,465 4,097 2,363 3,873 4,827 12,727 Held under repurchase agreements 1/ 402 -- 402 ... -- -- -- -- -- -- -- -- Total U.S. Government securities 96,941 4,51 1 23,188 55~~,,775500 88JJ))8811 77,,889933 44,,776666 1155,,446655 44,,009977 22,,336633 33,,887733 44,,882277 12,727 Total loans and securities 105,321 'f, 914 25,358 5.589 "" rr>>,, 77 55 33 88,,555533 55,, 116611 1166,,776622 44,,445511 22,,556688 44,,220033 55,,222266 13,783 Cash items in process of collection 15,235 397 2,807 366 855 2,108 1,832 1 ,693 6 37 616 1,231 893 1,800 Bank premises 384 106 10 56 23 77 14 16 13 29 19 12 9 Other assets 3/ 1,916 86 410 98 137 141 140 248 73 45 72 91 375 Interdistrict settlement account -0- - 34 3 +1,705 - 546 - 491 - 35 - 799 87 - 157 - 265 - 218 + 188 +1,048 TOTAL 136,1.33 5,884 34 ,0 ! 6 6,285 10,362 11,965 6,999 20,587 5,559 3,252 5,790 6,929 18,505 ]_/ Does not include L'.S. Government and Federal Agency scciiritios resold under matched sale-purchase transactions to foreign official and international accounts, ol" which $-0- million was outstanding at the end of the latest statement week. 2/ Net of $5,444 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $199 million securities loaned-fully secured by U.S. Government scciiritios. _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 APRIL 5, 1978 New Phila Cleve Rich St. Mi nne- Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (1 n mi. 11 ions fo dollars) •'' L I A B I L I. T 1 E S Federal Reserve notes 92,436 ! 4,762 23,777 4,791 7,874 8,411 3,496 15,335 3,961 1,893 3,531 4,080 10,535 Deposits: Member bank reserves 24,682 453 5,068 823 1,433 1,246 1,818 3,583 805 587 1,063 1,756 6,047 U.S. Treasury—general account 4,938 240 1,740 285 330 306 288 341 278 170 219 245 496 Foreign 585 8 1/ 381 12 23 15 21 42 9 8 11 16 39 Other 751 1 608 6 1 26 68 6 10 1 3 10 11 Total deposits 30,956 702 7,797 1,126 1,787 1,593 2,195 3,972 1,102 766 1,296 2,027 6,593 Deferred availability cash items 9,284 296 1,591 214 415 1,750 1,071 767 378 497 833 563 909 Other liabilities and accured dividends 1,265 55 278 61 98 93 74 180 49 30 48 136 163 TOTAL LIABILITIES 133,941 5,815 33,443 6,192 10,174 11,847 6,836 20,254 5,490 3,186 5,698 6,806 18,200 CAPITAL ACCOUNTS Capital paid in 1,048 32 274 44 90 56 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 115 5 32 5 11 7 6 17 4 3 5 6 14 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 136,133 5,884 34,016 6,285 10,362 11,965 6,999 20,587 5,559 3,252 5,790 6,929 18,505 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 103,570 5,554 25,621 5,494 8,473 8,988 4,564 16,684 4,434 2,184 4,350 5,029 12,195 Collateral for F.R. notes: Gold certificate account 11,718 641 3,392 631 934 982 560 1,736 469 225 393 456 1,299 Special Dr-nwing Rights cercif. fccL. 1,250 62 313 74 107 113 64 198 53 25 44 48 149 Eligible P^oer 144 33// 33II 6 16 8 12 L 21 17 10 33// ii22 2 t; U.S. Government securities 90,458 --44,,882200 21,910 4,773 7,424 7,881 3,936 14,729 3,895 1,924 --33,,990011 4,523 10,742 Total collateral 103,570 5,554 25,621 5,494 8,473 8,988 4,564 16,684 4,434 2,184 4,350 5,029 12,195 1/ After deducting $204 million participations of other Federal Reserve Banks. Includes $15 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