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 May 11, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, May 10, May 3, May 11, May 10, and related items 1978 1978 1977 i 1978 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright--System account 1/ 103,509 + 665 +6,199 [2/102,467 Held under repurchase agreements 1,382 + 426 -1,264 [ 2,414 Federal Agency obligations-- Bought outright 7,929 __ + 852 7,929 Held under repurchase agreements 471 + 240 + 308 989 Acceptances-- Bought outright .. __ - 84 —— Held under repurchase agreements 376 + 126 - 186 638 Loans- Total member bank borrowing 1,688 + 23 +1,532 1,186 Includes seasonal borrowing of: 72 + 12 + 51 85 Other borrowing Float 4,395 + 152 +1,265 4,458 Other F.R. assets 3,307 + 139 + 93 2,913 Total Reserve Bank credit 123,057 +1 ,771 +8,715 122,994 Gold Stock 11,718 -- + 82 11,718 Special Drawing Rights certif. acct. 1,250 -- + 50 1,250 Treasury currency outstanding 11,532 + 15 + 484 11,532 147,557 +1 ,786 +9,331 147,494 Currency in circulation * 104,130 + 721 +9,201 104,691 Treasury cash holdings * 398 + 9 - 44 400 Treasury deposits with F.R. Banks 10,358 +2 ,240 -2,915 7,931 Foreign deposits with F.R. Banks 436 - 35 + 77 584 Other deposits with F.R. Banks 3/ 641 - 89 + 109 685 Other F.R. liabilities and capital 3,883 - 125 + 718 3,821 119,846 +2 ,720 +7,146 118,112 Member bank reserves: With Federal Reserve Banks 27,71.3 - 933 +2,186 29,383 Currency and coin 9^508 + 263 + 510 9,508 Total reserves held 4/ 37,299 - 673 +2,621 38,969 Required reserves 37,009 - 598 +2,377 J 37,009 Excess reserves 4/ 290 - 75 + 244 1,960 NOTE: A net of $153 million of surplus reserves were eligible to be carried forward from the week ended May 3, into the week ending May 10. On May 10, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $85,264 million, an increase of $79 million for the week. 1/ Net of $758 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $758 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. Government securities. 2/ Net oi $?,92.2 million matched sale-purchase transactions, outstanding at the end of the latest statement week of which $1,922 million was with foreign official and international accounts. Includes $248 million securities loaned—fully secured by U.S. Government securities. 3/ Includcc $14 million of certain deposits of foreign-owned banl.ing institutions vcJr-{r:?7y held with member banks and redeposited in full with ledcral V Reserve Banks. Adjusted to include $78 million waivers of penalties for rcscivc deficiencies in a(ff-Lwr.icc with Board policy effective November 19, 197!:. Estimated (Treasury's figures). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

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 May 10, 1978 New Phila- Cleve- Rich- St. Minne- Kansas San Total j Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In mill ions of d ollars) A S S E TS Gold certificate account 1 11,718 560 3,453 598 921 974 518 1,763 466 231 425 509 1,300 Special Drawing Rights certif. acct. 1 1,250 62 313 74 107 113 64 198 53 25 44 48 149 Coin 303 21 21 16 43 25 27 22 20 9 46 14 39 Loans 1,186 119 63 175 26 72 161 128 120 41 103 152 26 Acceptances: Bought outright -_ ~" -- ~~ ~~ ~" "~ •-~ •• -" —" ~— — — Held under repurchase agreements ' 638 -- 638 — -- -- -~ ~~ ~~ -~ — - -- -~ Federal Agency obligations— Bought outright 1 7,929 369 1,929 397 660 649 359 1,264 324 190 325 412 1,051 Held under repurchase agreements —' 989 -- 989 -- -- "- -- -- -" -~ ~~ -- -- U.S. Government securities: Bought outright-- Bills 40,264 1,873 9,795 2,017 3,351 3,297 1,822 6,421 1,644 966 1,650 2,090 3 338 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/ 102,467 4,768 24,927 5,132 8,528 8,391 4,635 16,342 4,184 2 ,459 4,198 5,319 13,584 Held under repurchase agreements J7 2,414 -- 2,414 -- -- -- — -- -- -- -- -- -- Total U.S. Government securities 104,881 4,768 27,341 5,132 8,528 8,391 4,635 16,342 4,184 2 ,459 4,198 5,319 13,584 Total loans and securities 115,623 5,256 30,960 5,704 9,214 9,112 5,155 17,734 4,628 2 ,690 4,626 5,883 14,661 Cash items in process of collection 12,080 373 1,843 360 697 1,921 993 1,550 527 561 1,069 679 1,507 Bank premises 387 106 10 56 23 78 16 16 13 29 19 12 9 Other assets 3_/ 2,526 107 567 115 174 171 132 315 93 58 95 121 578 Interdistrict settlement account -0- + 119 -1,133 - 97 - 263 - 115 - 73 + 553 + 199 - 72 + 370 + 248 + 264 TOTAL 143,887 6,604 36,034 6,826 10,916 12,279 6,832 22,151 5,999 3 ,531 6,694 7,514 18,507 V 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 $1,922 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $248 million securities loaned—fully secured by U.S. Government securities. J3/ 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 MAY 10, 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 93,861 4,909 24,049 4,867 7,986 8,519 3,508 15,565 4,034 1,911 3,635 4,180 10,698 Deposits: Member bank reserves 29,383 950 6,857 1,063 1,701 1,343 1,937 4,814 956 810 1,443 2,055 5,454 U.S. Treasury—general account 7,931 345 2,061 489 546 565 550 467 507 224 656 635 886 Foreign 584 9 1/ 379 12 23 15 21 42 9 8 11 16 39 Other 2/ 685 1 576 5 1 19 52 2 1 2 2 13 11 Total deposits 38,583 1,305 9,873 1,569 2,271 1,942 2,560 5,325 1,473 1,044 2,112 2,719 6,390 Deferred availability cash items 7,622 257 1,131 226 358 1,596 531 721 368 477 801 422 734 Other liabilities and accured dividends 1,507 58 382 61 104 97 66 189 50 30 47 63 360 TOTAL LIABILITIES 141,573 6,529 35,435 6,723 10,719 12,154 6,665 21,800 5,925 3,462 6,595 7,384 18,182 CAPITAL ACCOUNTS Capital paid in 1,050 32 274 44 90 55 79 160 33 32 45 60 146 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 235 11 58 15 20 15 10 34 9 6 11 12 34 TOTAL LIABILITIES AND CAPITAL ACCOUNTS i 143,887 6,604 36,034 6,826 10,916 12,279 6,832 22,151 5,999 3,531 6,694 7,514 18,507 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 104,390 5,582 25,777 5,409 8,539 9,067 4,494 16,896 4,504 2,214 4,355 5,177 12,376 Collateral for F.R. notes: Gold certificate account 11,717 560 3,453 598 921 974 518 1,763 466 231 424 509 1,300 Special Drawing Rights certif. acct. 1,250 62 313 74 107 113 64 198 53 25 44 48 149 Eligible Paper 1,136 61 175 26 72 152 115 120 41 93 138 24 33// UU99 U.S. Government securities 90,287 --44,,884411 21,950 4,562 7,485 7,908 3,760 14,820 3,865 1,917 3,794 4,482 10,903 Total collateral 104,390 5,582 25,777 5,409 8,539 9,067 4,494 16,896 4,504 2,214 4,355 5,177 12,376 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. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis