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 13, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, April 12, April 5, 1April 13, April 12, and related items 1978 1978 il 1977 1978 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- 1/ 99,211 + 16 +6,900 2/ 97,977 Bought outright—System account — -2,091 - 362 —— Held under repurchase agreements Special Certificates Federal Agency oblications-- 7,929 —— +1,198 7,929 Bought outright Held under repurchase agreements ~ - 349 - 21 — Acceptances- «.„ «... - 138 "~ Bought outright Held under repurchase agreements -- - 589 - 27 — Loans-- Total member bank borrowing 172 - 132 + 134 172 Includes seasonal borrowing of: 37 8 + 25 39 Other borrowing — — -- -- Float 4,439 + 698 +1,178 4,301 Other F.R. assets 2,592 + 230 - 341 2,542 Total Reserve Bank credit 114,342 -2,218 +8,520 112,921 Gold Stock 11,718 — + 82 11,718 Special Drawing Rights certif. acct. 1,250 — + 50 1,250 Treasury currency outstanding 11,494 + 13 + 486 11,497 138,805 -2,204 +9,140 137,386 Currency in circulation * 103,386 + 717 +8,633 103,855 Treasury cash holdings * 400 + 3 - 50 400 Treasury deposits with F.R. Banks 3,905 -1,536 -1,374 2,595 Foreign deposits with F.R. Banks 258 - 113 - 51 268 Other deposits with F.R. Banks 3/ 741 - 32 + 91 759 Other F.R. liabilities and capital 3,543 - 223 + 430 3,654 112,232 -1,184 +7,678 | 111,531 Member bank reserves: With Federal Reserve Banks 26,572 -1,020 +1,460 25,856 Currency and coin 9,387 + 441 + 666 9,387 Total reserves held {±1 36,042 - 588 +2,054 35,326 Required reserves 35,951 - 372 +2,237 • 35,951 Excess reserves 4/ 91 - 216 - 183 - 625 NOTE: A net of $176 million of surplus reserves were eligible to be carried forward from the week ended April 5, into the week ending April 12. On April 12, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $89,038 million, an increase of $140 million for the week. 1/ Net of $2,802 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $2,175 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2/ Net of $4,114 million matched sale-purchase transactions, outstanding at the end of the latest statement week of which $1,919 million was with foreign official and international accounts. Includes $191 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 $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 April 12, April 5, April 13, A S S E TS 1978 1978 1977 Gold certificate account 11,718 -- + 82 Special Drawing Rights certif. acct. 1,250 -- + 50 Coin 305 - 4 17 Loans 172 + 13 + 130 Acceptances--Bought outright -- -- - 134 Held under repurchase agreements -- - 193 - 186 Federal Agency obligations--Bought outright 7,929 — +1,198 Held under repurchase agreements \J — - 99 - 149 U.S. Government securities: Bought outright—Bills 36,445 +1 ,438 +1,028 Certificates Notes 51,984 +2,803 Bonds 9,548 +2,352 Total bought outright 2/ 97,977 +1,438 +6,183 Held under repurchase agreements 1/ - 402 -2,535 Total U.S. Government securities ~~ 97,977 +1,036 +3,648 Total loans and securities 106,078 + 757 +4,507 Cash items in process of collection (2,050) 10,717 -2,481 +1,303 Bank premises 383 1 + 18 Other assets 3/ 2,159 + 243 - 616 TOTAL ASSETS (2,050) 132,610 -1,486 +5,327 L I A B I L I T I ES Federal Reserve notes 93,062 + 626 +8,182 Deposits: Member bank-reserves account 25,856 +1,174 -1,511 U.S. Treasury-general account 2,595 -2,343 -2,195 Foreign 268 - 317 + 16 Other V 759 + 8 + 128 Total deposits 29,478 -1,478 -3,562 Deferred availability cash items (2,050) 6,416 - 831 + 206 Other liabilities and accrued dividends 1,331 + 66 + 379 TOTAL LIABILITIES (2,050) 130,287 -1,617 +5,205 C A P I T AL A C C O U N T S. Capital paid in 1,047 + 57 Surplus 1,029 + 46 Other capital accounts 247 + 132 + 19 * 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 $4,114 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $191 million securities loaned— fully secured by U.S. Government securities. 3/ 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 12, 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 157 2,181 - 920 6 -99 16 days to 90 days 15 18,025 +1,889 258 + 1 91 days to 1 year 30,690 + 67 1,121 Over 1 year to 5 years 29,376 — 4,043 - 1 Over 5 years to 10 years 9,941 — 1,644 +20 Over 10 years 7,764 — 857 -20 Total 172 97,977 +1,036 7,929 -99 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 12, 1978 New Fhila- Cleve- Rich- St. Minne- Kansas San Total Boston York delohia land 1 mond Atlanta Chicago Louis apolis City Dallas 1Francisco (In millions of dollars) A S S E TS Gold certificate account . 11,718 641 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 305 20 21 17 43 27 26 23 19 10 45 13 41 Loans 172 19 4 22 5 7 ._ 17 14 9 16 _. 59 Acceptances: Bought outright -- -- -- -- — -- -- -- -- -- -- -- -- Held under repurchase agreements -.. — -- -- -- -- -- -- -- -- — -- -- 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/ -_ -- -- -- -- -- -- — -- -- -- — -- U.S. Government securities: ~~ Bought outright— Bills 36,445 1,703 8,601 1,944 3,051 2,979 1,800 5,838 1,547 892 1,462 1,823 4,805 Certificates -- -. — — -- -- — -- — -- -- -- — Notes 51,984 2,429 12,270 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/ 97,977 4,578 23,125 5,227 8,201 8,010 4,837 15,696 4,158 2,399 3,930 4,899 12,917 Held under repurchase agreements 1/ — -- -- -- -- -- -- -- — -- -- -- -- Total U.S. Government securities 97,977"" 4,578 23,125 5,227 8,201 8,010 4,837 15,696 4,158 2,399 3,930 4,899 12,917 Total loans and securities 106,078 4,968 25,000 5,672 8,870 8,665 5,228 16,983 4,509 2,602 4,264 5,296 14,021 Cash items in process of collection 12,767 352 1,518 377 636 2,079 1,564 1,488 626 574 1,139 851 1,563 Bank premises 383 106 10 55 23 77 14 16 13 29 19 12 9 Other assets 3/ 2,159 92 430 100 145 145 128 268 77 50 80 98 546 Interdistrict settlement account -0- 1 - 189 +2,237 - 699 - 262 - 135 - 875 - 244 - 284 - 151 + 86 + 122 + 394 TOTAL 134,660 6,052 32,921 6,227 10,496 11,953 6,709 20,468 5,482 3,364 6,070 6,896 18,022 1/ Does not include U.S. Government and Federal Agency securities resold underm atched 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 $4,114 million matched sale-purchase transactions outstanding at thee nd of the latest statement week. Includes $191 million securities loaned—fully secured by U.S. Government securities. 2_/ 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 12, 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 93,062 4 ,807 23,871 4,852 7,957 8,458 3,469 15,455 3,993 1,914 3,551 4,096 10,639 Deposits: Member bank reserves 25,856 693 6,268 832 1,565 1,220 1,682 3,423 786 684 1,271 1,793 5,639 U.S. Treasury-'-general account 2,595 138 337 135 215 198 215 274 141 158 193 212 379 Foreign 268 8 1/ 64 12 23 15 21 42 8 8 12 16 39 Other 759 1 643 1 24 54 5 1 3 1 15 11 Total deposits 29,478 840 7,312 979 1,804 1,457 1,972 3,744 936 853 1,477 2,036 6,068 Deferred availability cash items 8,466 274 806 235 440 1,803 1,025 733 427 499 899 568 757 Other liabilities and accured dividends 1,331 56 327 61 96 106 74 182 51 30 46 67 235 TOTAL LIABILITIES 132,337 5 ,977 32,316 6,127 10,297 11,824 6,540 20,114 5,407 3,296 5,973 6,767 17,699 CAPITAL ACCOUNTS Capital paid in 1,047 32 274 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 247 11 64 12 22 19 12 38 10 5 10 12 32 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 134,660 6 ,052 32,921 6,227 10,496 11,953 6,709 20,468 5,482 3,364 6,070 6,896 18,022 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 103,744 5,553 25,767 5,483 8,509 8,960 4,509 16,788 4,440 2,184 4,327 5,027 12,197 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 Drawing Rights certif. aacccctt.. 1,250 62 313 74 107 113 64 198 53 25 44 48 149 E U l . i S g . i b G l o e v e P r a n p m e e r n t securities 90,6 1 3 4 2 4 - 3 4 / .83 18 2 22,05 4 8 4,75 2 6 2 7,46 5 3 7,85 6 9 3,885 14,84 1 3 1 3,90 14 4 1,925 9 3,87 16 4 4,523 10,71 3 0 9 Total collateral 103,744 5,553 25,767 5,483 8,509 8,960 4,509 16,788 4,440 2,184 4,327 5,027 12,197 V After deducting $204 million participations of other Federal Reserve Banks. •**• n 2/ 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