H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and •.f^uSS? Condition Statement of F.R. Banks H.4.1 For immediate release April 20, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, April 19, April 12, 1 April 20, April 19, and related items 1978 1978 1 1977 1978 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 1/ 101,451 +2,240 +6,161 b/ 101,168 Held under repurchase agreements — -- - 450 1 Federal Agency obligations-- Bought outright 7,929 — +1,198 7,929 Held under repurchase agreements -- -- - 17 — Acceptances— Bought outright _- - 130 —•• Held under repurchase agreements — -- - 34 ! Loans-- Total member bank borrowing 239 + 67 + 210 ' 556 Includes seasonal borrowing of: 36 1 + 22 40 Other borrowing Float 4,159 - 278 + 938 5,686 Other F.R. assets 2,737 + 145 - 360 2,882 Total Reserve Bank credit 116,515 +2,175 +7,516 118,221 Gold Stock 11,718 -- + 82 11,718 Special Drawing Rights certif. acct. 1,250 — + 50 1,250 Treasury currency outstanding 11,497 + 3 + 483 11,497 140,980 +2,177 +8,131 142,686 Currency in circulation * 103,545 + 156 +8,888 103,638 Treasury cash holdings * 400 + 3 - 48 400 Treasury deposits with F.R. Banks 3,412 - 493 -2,819 6,625 Foreign deposits with F.R. Banks 333 + 75 + 20 249 Other deposits with F.R. Banks 1/ 701 - 40 + 79 709 Other F.R. liabilities and capital 3,724 + 181 + 429 3,760 112,115 - 117 +6,549 115,381 Member bank reserves: With Federal Reserve Banks 28,865 +2,295 +1,581 27,306 Currency and coin 8,887 - 500 +1,163 8,887 Total reserves held 4/ 37,834 +1,794 +2,672 36,275 Required reserves 37,437 +1,486 +2,309 37,437 Excess reserves 4/ 397 + 308 + 363 - 1,162 NOTE: A net of $49 million of surplus reserves were eligible to be carried forward from the week ended April 12, into the week ending April 19. On April 19, 1978, marketable U.S. Government securities held in custody by Federal Reserve Banks for foreign official and international accounts were $88,218 million, a decrease of $820 million for the week. 1/ Net of $1,793 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,729 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. Government securities. 2/ Net of $2,421 million matched sale-purchase transactions, outstanding at the end of the latest statement week of which $1,977 million was with foreign official and international accounts. Includes $124 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 $82 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. Estimated (Treasuryfs figures). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(aN CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since April 19, April 1?, April 20, A S S E TS 1978 1978 1977 ( Gold certificate account 11,718 -- + 82 Special Drawing Rights certif. acct. * 1,250 -- + 50 Coin 308 + 3 20 Loans 556 + 384 + 497 Acceptances--Bought outright — -- - 121 Held under repurchase agreements — -- - 240 Federal Agency obligations--Bought outright 7,929 -- +1,198 Held under repurchase agreements \/ -- — - 118 U.S. Government securities: Bought outright—Bills 38,965 +2,520 + 50 Certificates — -- -- Notes 52,510 + 526 +3,329 Bonds 9,693 + 145 +2,497 Total bought outright 2/ 101,168 +3,191 +5,876 Held under repurchase agreements JL/ — — -3,148 Total U.S. Government securities 101,168 +3,191 +2,728 Total loans and securities 109,653 +3,575 +3,944 Cash items in process of collection (2,505) 12,571 +1,854 +2,009 Bank premises 385 + 2 + 19 Other assets 3J 2,497 + 338 - 350 TOTAL ASSETS (2,505) 138,382 +5,772 +5,734 L I A B I L I T I ES Federal Reserve notes 92,848 - 214 +8,546 Deposits: Member bank-reserves account 27,306 +1,450 + 961 U.S. Treasury--general account 6,625 +4,030 -4,676 Foreign 249 19 - 31 Other 4/ 709 - 50 - 31 Total deposits 34,889 +5,411 -3,777 Deferred availability cash items (2,505) 6,885 + 469 + 488 Other liabilities and accrued dividends 1,308 - 23 + 339 TOTAL LIABILITIES (2,505) 135,930 +5,643 +5,596 C A P I T AL A C C O U N TS Capital paid In 1,047 „— + 55 Surplus 1,029 -- + 46 Other capital accounts 376 + 129 + 37 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 $2,421 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $124 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 19, 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 550 3,318 +1,137 26 • +20 16 days to 90 days 6 18,984 + 959 238 -20 91 days to 1 year 31,214 + 524 1,121 — Over 1 year to 5 years 29,611 + 235 4,043 -- Over 5 years to 10 years 10,132 + 191 1,644 -- Over 10 years 7,909 + 145 857 _-- Total 556 101,168 +3,191 7,929 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 19, 1978 New Phila Cleve- Rich St. Minne- Kansas San Total Boston York delphia land 1 mond Atlanta Chicago Louis apolis Citv Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 11,718 560 3,453 598 921 974 518 1,763 466 231 425 509 1,300 Special Drawing Rights certif. acct. 1,250 62 313 74 107 113 64 198 53 25 44 48 149 Coin 308 20 22 18 42 26 27 23 22 10 45 13 40 Loans 556 27 8 17 5 116 3 307 6 8 13 11 35 Acceptances: Bought outright — — .. .. -- -_ -_ -- -- -- _- -- Held under repurchase agreements -- -- .. -- -_ -_ -- -_ -- -- -- -_ -- Federal Agency obligations — Bought outright 7,929 369 1,929 397 660 649 359 1,264 324 190 325 412 1,051 Held under repurchase agreements 1/ — — -- -- -- -- -- -- — -- — -- — U.S. Government securities: Bought outright— Bills 38,965 1,813 9,478 1,952 3,243 3,190 1,763 6,214 1,591 935 1,597 2,023 5,166 Certificates — -- .. — — -- -- — — -- — -- -- Not e8 52,510 2,444 12,774 2,630 4,370 4,300 2,375 8,375 2,144 1,260 2,151 2,726 6,961 Bonds 9,693 451 2,358 485 807 794 438 1,546 396 233 397 503 1,285 4/ Total bought outright 2/ 101,168 4,708 24,610 5,067 8,420 8,284 4,576 16,135 4,131 2,428 4,145 5,252 13,412 Held under repurchase agreements 1/ — -- -- — -- -- — — — -- -- -_ Total U.S. Government securities 101,168 4,708 24,610 5,067 8,420 8,284 4,576 16,135 4,131 2,428 4,145 5,252 13,^12 Total loans and securities 109,653 5,104 26,547 5,481 9,085 9,049 4,938 17,706 4,461 2,626 4,483 5,675 " 14^98 Cash items in process of collection 15,076 417 1,479 432 803 2,645 1,682 2,239 805 655 1,222 854 ! ,343 Bank premises 385 107 10 56 23 78 14 16 13 29 19 11 9 Other assets 3/ 2,497 187 481 99 173 156 128 288 82 51 82 103 667 Interdistrict settlement account -0- - 294 +2,483 - 302 - 515 - 621 - 173 - 945 - 83 - 295 - 112 - 103 +___,%£ TOTAL 140,887 6,163 34,788 6,456 10,639 12,420 7,198 21,288 5,819 3,332 6,208 7,110 19,466 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 $2,421 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $124 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 APRIL 19, 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 O Federal Reserve notes 92,848 4 ,840 23,907 4,834 7,962 8,408 3,336 15,485 3,982 1,913 3,540 4,084 10,557 Deposits: 27,306 445 6,664 821 1,275 1,231 1,898 3,619 915 585 1,332 1,780 6,741 Member bank reserves U.S. Treasury—general account 6,625 311 1,776 326 514 348 614 707 289 167 291 476 806 Foreign 249 9 1/ 45 12 23 15 21 42 9 8 11 16 38 Other 2/ 709 * 583 17 1 22 57 4 * 2 3 10 10 TToottaall ddeeppoossiittss 34,889 765 9,068 1,176 1,813 1,616 2,590 4,372 1,213 762 1,637 2,282 7,595 DDeeffeerrrreedd aavvaaiillaabbiilliittyy ccaasshh iitteemmss 9,390 410 899 278 558 2,152 1,034 871 496 543 883 547 719 Other liabilities and accured dividends 1,308 70 277 61 95 104 63 184 48 42 46 61 257 TOTAL LIABILITIES 138,435 6 ,085 34,151 6,349 10,428 12,280 7,023 20,912 5,739 3,260 6,106 6,974 19,128 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 376 14 96 19 34 30 18 60 15 9 15 19 47 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 140,887 6 ,163 34,788 6,456 10,639 12,420 7,198 21,288 5,819 3,332 6,208 7,110 19,46-, FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 103,904 5,567 25,770 5,482 8,520 8,972 4,447 16,853 4,483 2,214 4,323 5,035 TT^3E Collateral for F.R. notes: Gold certificate account 11,718 560 3,453 598 921 974 518 1,763 466 231 425 509 1,300 Special Drawing Rights certif. acct. 1,250 62 313 74 107 113 64 198 53 25 44 48 149 Eligible Paper 595 33// 2277 8 17 5 115 3 302 57 8 11 11 ?9 U.S. Government securities 90,343 --''44,,991188 21,996 4,793 7,487 7,770 3,862 14,590 3.907 1,950 3,843 4,467 10,760 Total collateral 103,904 5,567 25,770 5,482 8,520 8,972 4,447 16,853 4,483 2,214 4,323 5,035 12,238 1/ After deducting $204 million participations of other Federal Reserve Banks. 2/ Includes $15 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposite in full with Federal Reserve Banks. 3/ Includes securities borrowed from other Reserve Banks. Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis