H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.-•oofi-o^ FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release April 27, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, April 26, April 19, 1 April 27, April 26, and related items 1978 1978 J 1977 1978 Reserve Bank credit: (In millions of do llars) U.S. Government securities — Bought outright--System account 1/ 102,228 + 777 +6,105 2/ 102,357 Held under repurchase agreements 224 + 224 -1,503 1,566 Federal Agency obligations- Bought outright 7,929 __ +1,198 7,929 Held under repurchase agreements 38 + 38 77 263 Acceptances — Bought outright -» -- - 115 _«. Held under repurchase agreements 31 + 31 - 273 216 Loans- Total member bank borrowing 809 + 570 + 710 1,764 Includes seasonal borrowing of: 49 + 13 + 34 53 Other borrowing Float 4,367 + 256 +1,463 4,276 Other F.R. assets 2,997 + 260 - 177 2,983 Total Reserve Bank credit 118,622 +2,155 +7,330 121,354 Gold Stock 11,718 -- + 82 11,718 Special Drawing Rights certif. acct. 1,250 -- + 50 1,250 Treasury currency outstanding 11,512 + 15 + 483 11,516 143,102 +2,170 +7,945 145,838 Currency in circulation * 103,239 - 316 +9,131 103,506 Treasury cash holdings * 400 + 10 - 47 400 Treasury deposits with F.R. Banks 6,321 +2,909 -3,285 8,729 Foreign deposits with F.R. Banks 339 + 6. + 67 460 Other deposits with F.R. Banks 37 772 + 71 + 138 796 Other F.R. liabilities and capital 3,794 + 70 + 451 3,879 114,865 +2,750 +6,454 117,770 Member bank reserves: With Federal Reserve Banks 28,238 - 579 +1,492 28,069 Currency and coin 8,797 90 + 456 8,797 Total reserves held 4/ 37,117 - 669 +1,877 36,948 Required reserves 37,011 - 426 +1,935 37,011 Excess reserves 4/ 106 - 243 - 58 63 NOTE A net of $148 million of surplus reserves were eligible to be carried forward from the week ended April 19, into the week ending April 26. On April 26, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $86,590 million, a decrease of $1,628 million for the week. 1/ Net of $1,583 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,482 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2/ Net of $1,795 million matched sale-purchase transactions outstanding at the end of the latest statement week,of which $1,795 million was with foreign official and international accounts. Includes $169 million securities loaned—fully secured by U.S. Government securities. 3/ Includes $14 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 (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 26, April 19, April 27, ASSETS; 1978 :.978 1977 Gold certificate account 11,718 — + 82 Special Drawing Rights certif. acct. 1,250 -- + 50 Coin 308 -- 19 Loans 1,764 + 1,208 +1,277 Acceptances—Bought outright -- -- - 107 Held under repurchase agreements 216 + 216 - 268 Federal Agency obligations--Bought outright 7,929 -- +1,198 Held under repurchase agreements \j 263 + 263 + 94 U.S. Government securities: ~~ Bought outright--Bills 40,154 + 1,189 25 Certificates Notes 52,510 __ +2,878 Bonds __9_69_3 -- +2,459 1 Total bought outright 2/ 102,357 +1,189 +5,312 Held under repurchase agreements \J 1,566 -1,566 -1,629 Total U.S. Government securities 103 923 +2 ,755 +3,683 Total loans and securities 114 095 +4 ,442 +5,877 Cash items in process of collection (2,211) 11 111 -1, 460 +1,441 Bank premises 386 + 1 + 20 Other assets _3/ 2 L597 +__ 100 - 258 TOTAL ASSETS (2,211) 141,465 +3,083 +7,193 LIABILITIES; 92,697 - 151 +8,609 Federal Reserve notes 28,069 + 763 - 270 Deposits: Member bank-reserves account 8,729 +2 ,104 -2,594 U.S. Treasury—general account 460 + 211 + 194 Foreign 796 + 87 + 134 Other 4/ 38,054 +3 ,165 -2,536 Total deposits (2,211) 6,835 - 50 + 651 Deferred availability cash items 1,287 - 21 + 308 Other liabilities and accrued dividends (2,211) 138,873 +2 ,943 +7,032 TOTAL LIABILITIES C A P I T AL ACCOUNTS Capital paid in 1,049 + 2 + 58 Surplus 1,029 -- + 46 Other capital accounts 514 + 138 + 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 $-0- million was outstanding at the and of the latest statement week. 2/ Net of $1,795 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $169 million securities loaned-fully secured by U.S. Government securities. 2/ Includes assets denominated in foreign currencies. 4/ Includes $14 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 26, 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 1,736 216 5,727 +2,409 283 + 257 16 days to 90 days 28 20,219 +1,235 265 + 27 91 days to 1 year 30,325 - 889 1,152 + 31 Over 1 year to 5 years 29,611 -- 3,991 - 52 Over 5 years to 10 years 10,132 -- 1,644 -- Over 10 years 7,909 — 857 — Total 1,764 216 103,923 +2,755 8,192 + 263 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 26, 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 17 43 26 26 23 22 10 46 14 39 Loans 1,764 75 494 151 68 143 80 94 83 28 69 240 239 Acceptances: Bought outright -- — -- -- — — -- -- -- — -- -- •-- Held under repurchase agreements 216 -- 216 -- -- — -- — -- _- -- -- -- 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 V 263 -- 263 -- -- — -- — — -- -- -- -- U.S. Government securities: Bought outright-- Bills 40,154 1 ,868 9,768 2,011 3,342 3,287 1,817 6,403 1,640 963 1,646 2,085 5,324 Certificates -- -- -- -- -- -- -- -- — -- -- -- -- Notes 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/ 102,357 4,763 24,900 5,126 8,519 8,381 4,630 16,324 4,180 2,456 4,194 5,314 13,570 Held under repurchase agreements 1/ 1,566 -- 1,566 -- -- -- -- — -- — — -- — Total U.S. Government securities 103,923 4,763 26,466 5,126 8,519 8,381 4,630 16,324 4,180 2,456 4,194 5,314 13,570 Total loans and securities 111144,,009955 55,,220077 2299,,336688 55,,667744 99,,224477 99,,117733 55,,006699 1177,,668822 44,,558877 22,,667744 44,,558888 55,,996666 14,860 Cash items in process of collection 1133,,332222 330033 11,,440033 443311 778855 22,,004433 11,,558888 11,,558833 776688 666688 11,,112200 995511 1,679 Bank premises 386 107 10 56 23 78 14 16 13 29 19 12 9 Other assets 1/ 2,597 98 490 103 170 162 134 298 81 51 85 104 821 Interdistrict settlement account -0- + 95 -1,223 - 280 - 260 - 204 + 252 + 19 + 327 - 109 + 648 - 159 + 894 TOTAL 143,676 6,452 33,836 6,673 11,036 12,365 7,665 21,582 6,317 3,579 6,975 7,445 19,751 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 $1,795 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $169 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 26, 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 92,697 4,862 23,761 4,779 7,875 8,432 3,494 15,367 3,981 1 ,914 3,572 4,141 10,519 Deposits: Member bank reserves 28,069 629 5,497 940 1,706 1,508 2,066 4,209 986 771 1,421 1,879 6,457 U.S. Treasury--general account 8,729 518 1,594 482 645 456 667 647 705 183 916 593 1,323 Foreign 460 8 1/ 255 12 23 15 21 42 9 8 12 16 39 Other 796 3 690 1 1 19 53 5 * 2 2 9 11 Total deposits 38,054 1,158 8,036 1,435 2,375 1,998 2,807 4,903 1,700 964 2,351 2,497 7,830 Deferred availability cash items 9,046 291 1,053 288 466 1,685 1,117 733 503 594 898 603 815 Other liabilities and accured dividends 1,287 55 315 57 98 98 67 181 48 32 47 60 229 TOTAL LIABILITIES 141,084 6,366 33,165 6,559 10,814 12,213 7,485 21,184 6,232 3 ,504 6,868 7,301 19,393 CAPITAL ACCOUNTS Capital paid in 1,049 32 274 44 90 55 79 160 33 32 44 60 146 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 514 22 130 26 45 42 23 81 20 12 20 26 67 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 143,676 6,452 33,836 6,673 11,036 12,365 7,665 21,582 6,317 3 ,579 6,975 7,445 19,751 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 104,165 5,575 25,665 5,437 8,477 9,040 4,609 16,825 4,505. 2,220 4,355 5,122 12,335 Collateral for F.R. notes: Gold certificate account 11,717 560 3,453 598 921 973 518 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 1,645 33// 7755 473 150 68 143 73 78 83 28 63 238 173 U.S. Government securities 89,553 --''44,,887788 21,426 4,615 7,381 7,811 3,954 14,786 3,903 1,936 3,823 4,327 10,713 Total collateral 104,165 5,575 25,665 5,437 8,477 9,040 4,609 16,825 4,505 2,220 4,355 5,122 12,335 1/ After deducting $205 million participations of other Federal Reserve Banks. 2/ Includes $14 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. Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis