H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•:0o»; FEDERAL RESERVE Factors Affecting Bank Reserves and ••f^?:- Condition Statement of F.R. Banks H.4.1 For immediate Telease May 25, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, May 24, May 17, (May 25, May 24, and related items 1978 1978 1 1977 1978 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 1/ 102,374 + 423 +5,667 2/103,535 Held under repurchase agreements — -1,190 -1,784 — Federal Agency obligations-- Bought outright 7,895 5 + 818 7,895 Held under repurchase agreements — - 542 - 198 -- Acceptances— Bought outright ._ .- - 63 _„ Held under repurchase agreements -- - 411 -• 346 — Loans-- Total member bank borrowing 701 - 166 + 390 764 Includes seasonal borrowing of: 104 + 13 + 69 116 Other borrowing Float 3,996 - 402 +1,288 4,996 Other F.R. assets 2,247 - 411 - 309 2,313 Total Reserve Bank credit 117,214 -2,704 +5,463 119,503 Gold Stock 11,718 — + 89 11,718 Special Drawing Rights certif. acct. 1,250 -- + 50 1,250 Treasury currency outstanding 11,540 + 3 + 471 11,543 141,722 -2,701 +6,073 144,014 Currency in circulation * 104,350 - 147 +9,462 104,653 Treasury cash holdings * 400 — 38 400 Treasury deposits with F.R. Banks 4,412 -2,177 -6,093 4,558 Foreign deposits with F.R. Banks 253 30 10 219 Other deposits with F.R. Banks 3/ 603 12 + 55 619 Other F.R. liabilities and capital 3,946 + 64 + 571 4,021 113,964 -2,302 +3,946 114,470 Member bank reserves: With Federal Reserve Banks 27,758 - 399 +2,126 29,544 Currency and coin 8,641 - 559 + 492 8,641 Total reserves held 4/ 36,469 - 960 +2,536 38,255 Required reserves 36,234 -1,174 +2,436 36,234 Excess reserves 4/ 235 + 214 + 100 2,021 NOTE: A net of $35 million of surplus reserves were eligible to be carried forward from the week ended May 17, into the week ending May 24. On May 24, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $85,112 million, a decrease of $658 million for the week. 1/ Net of $2,284 millipn, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,073 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. Government securities. TJ Net of $941 million matched sale-purchase transactions outstanding at the end of the latest statement week,of which $941 million was with foreign official and international accounts. Includes $290 million securities loaned-^fully secured by U.S. Government securities. 3/ Includes $13 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 $70 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 si nee May 24, May 17, ]4 ay 25, A S S E T S 1978 1 1978 1977 , Gold certificate account 11,718 •-- + 89 Special Drawing Rights certif. acct. 1,250 -- + 50 Coin 296 -- - 28 Loans 764 - 655 + 313 Acceptances--Bought outright -- -- - 60 Held under repurchase agreements Federal Agency obligations--Bought outright 7,895 818 Held under repurchase agreements 1/ U.S. Government securities: Bought outright—Bills 40,813 +4,216 + 1,773 Certificates Notes 52,055 + 3,323 Bonds 10,667 -- + 2,533 Total bought outright 2/ 103,535 +4,216 + 7,629 Held under repurchase agreements \_l Total U.S. Government securities 103,535 ++44,,221166 + 7,629 Total loans and securities 112,194 ++33,,556611 + 8,700 Cash items in process of collection (2,114) 10,963 -1,610 + 2,252 Bank premises 388 -- + 19 Other assets $j L925 + 177 394 TOTAL ASSETS (2,114) 138,734 +2,128 +10,688 L I A B I L I T I ES Federal Reserve notes 93,806 30 + 8,880 Deposits: Member bank-reserves account 29,544 +2,927 + 5,187 U.S. Treasury—general account 4,558 + 53 - 4,486 Foreign 219 13 55 Other */ 619 + 42 94 Total deposits 34,940 +3,009 + 552 Deferred availability cash items (2,114) 5,967 -1,067 + 660 Other liabilities and accrued dividends 1,436 + 88 + 435 TOTAL LIABILITIES (2,114) 136,149 +2,000 +10,527 C A P I T AL A C C O U N TS Capital paid in 1,053 + 2 + 54 Surplus 1,029 — + 46 Other capital accounts 503 + 126 + 61 * 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 $851 million was outstanding at the end of the latest statement week. 2/ Net of $941 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $290 million securities loaned-fully secured by U.S. Government securities. 3^/ Includes assets denominated in foreign currencies. 4/ Includes $13 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, MaY 24, 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 Holdings Weekly Holdings Weekly changes changes Within 15 days 743 4,638 +1,204 75 16 days to 90 days 21 20,338 +3,970 200 91 days to 1 year 28,203 - 957 1,158 Over 1 year to 5 years 29,718 1 3,961 Over 5 years to 10 years 11,760 -- 1,654 Over 10 years 8,878 -- 847 Total 764 103,535 +4,216 7,895 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 24, 1978 New Phila- Cleve- Rich St. Minne- Kansas San Total Boston York delphia land 1 mond Atlanta , Chicago Louis apolis City 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 296 19 23 13 42 24 25 21 21 10 46 15 37 Loans 764 81 39 148 20 75 57 78 60 37 67 67 35 Acceptances: Bought outright -- -_ -- -- -- — -- — -- -- -- -- -- Held under repurchase agreements -- -- -- — »- -- -- -- -- -- -- -- — Federal Agency obligations— Bought outright 7,895 367 1,921 396 657 647 357 1,259 322 189 323 410 1,047 Held under repurchase agreements 1/ -- -- -- -- -- -- -- -- -- — -- -- -- U.S. Government securities: Bought outright— Bills 40,813 1,899 9,928 2,044 3,397 3,342 1,846 6,509 1,666 980 1,672 2,119 5,411 Certificates -- -- -- - -- -- -- -- -- -- -- -- -- -- Notes 52,055 2,423 12,663 2,607 4,332 4,262 2,355 8,302 2,126 1 ,249 2,133 2,702 6,901 Bonds 10,667 496 2,595 534 888 873 483 1,701 436 256 437 554 1,414 4/ Total bought outright 2/ 103,535 4,818 25,186 5,185 8,617 8,477 4,684 16,512 4,228 2 ,485 4,242 5,375 13,726 Held under repurchase agreements 1/ -- -- -- -- -- — — -- — -- -- — -- Total U.S. Government securities 103,535 4,818 25,186 5,185 "" 8,617 8,477 4,684 16,512 4,228 7, 485 4,242 5,375 13,726 Total loans and securities 112,194 5,266 27,146 5,729 9,294 9,199 5,098 17,849 4,610 2 ,711 4,632 5,852 14,808 Cash items in process of collection 13,077 393 1,547 450 787 2,003 1,462 1,704 584 685 1,093 790 1,579 Bank premises 388 , 106 10 56 23 79 16 16 13 29 19 12 9 Other assets 3/ 1,925 | 78 412 81 121 126 141 213 60 43 79 87 484 Interdistrict settlement account -0- [ - 136 +1,625 - 282 - 645 - 324 - 94 - 715 - 63 -_3 61 + 272 - 146 + 869 TOTAL 140,848 6,348 34,529 6,719 10,650 12,194 7,230 21,049 5,744 3 ,373 6,610 7,167 19,235 \J Does not include U.S. Government and Federal Agency securities resold under matched sale-purchase transactions to foreign official and international accounts, of which $851 million was outstanding at the end of the latest statement week. 2/ Net of $941 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $290 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 MAY 24, 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 93,806 4,904 24,038 4,926 7,925 8,465 3,556 15,545 4,016 1,901 3,666 4,197 10,667 Deposits: Member bank reserves 29,544 772 7,456 910 1,682 1,405 2,123 3,628 960 626 l,43l 1,908 6,639 U.S. Treasury--general account 4,558 241 740 414 289 337 351 509 274 209 483 280 431 Foreign 219 9 1/ 15 12 23 15 21 42 8 8 11 16 39 Other 2/ 619 2 499 1 18 51 6 1 3 2 11 25 Total deposits 34,940 1,024 8,710 1,336 1,995 1,775 2,546 4,185 1,243 846 1,931 2,215 7,134 Deferred availability cash items 8,081 277 820 283 406 1,706 871 738 352 520 856 546 706 Other liabilities and accured dividends 1,436 56 290 61 104 100 79 186 48 31 47 65 369 TOTAL LIABILITIES 138,263 6,261 33,858 6,606 10,430 12,046 7,052 20,654 5,659 3,298 6,500 7,023 18,876 CAPITAL ACCOUNTS Capital paid in 1,053 32 276 44 90 55 79 160 33 32 46 60 146 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 503 23 128 25 43 38 21 78 20 12 21 26 68 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 140,848 6,348 34,529 6,719 10,650 12,194 7,230 21,049 5,744 3,373 6,610 7,167 19,235 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 104,849 5,683 25,775 5,475 8,497 9,097 4,657 16,964 4,495 2,236 4,374 5,196 12,400 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 725 39 147 20 71 57 71 59 37 61 61 24 33// 7788 U.S. Government securities 91,157 --''44,,998833 21,970 4,656 7,449 7,940 4,018 14,932 3.917 1,943 3.844 4,578 10,927 Total collateral 104,849 5,683 25,775 5,475 8,497 9,097 4,657 16,964 4,495 2,236 4,374 5,196 12,400 1/ After deducting $204 million participations of other Federal Reserve Banks, 27 Includes $13 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