H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and ••.f*4LRE*?: Condition Statement of F.R. Banks H.4.1 For immediate release June 8, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, June 7 May 31, June 8, June 7, and related items 1978 1978 1977 1978 Reserve Bank credit: T7 (In millions of dollars) 2/ U.S. Government securities— Bought outright—System account 100,338 -1,285 + 9,439 99,404 Held under repurchase agreements - 62 Federal Agency obligations— Bought outright 7,895 818 7,895 Held under repurchase agreements Acceptances— Bought outright 56 Held under repurchase agreements 39 Loans— Total member bank borrowing 646 - 753 + 420 553 Includes seasonal borrowing of: 111 - 4 + 59 101 Other borrowing Float 6,011 +2 ,656 + 2,509 6,145 Other F.R. assets 2,533 + 91 142 2,513 Total Reserve Bank credit 117,423 + 604 +12,989 116,510 Gold Stock 11,718 -- + 89 11,718 Special Drawing Rights certif. acct. 1,250 -- + 50 1,250 Treasury currency outstanding 11,561 + 8 + 478 11,571 141,952 * 612 +13,606 141,049 Currency in circulation* 105,391 + 573 + 9,458 105,910 Treasury cash holdings * 400 + 14 33 400 Treasury deposits with F.R. Banks 4,525 +1 ,234 + 1,225 4,989 Foreign deposits with F.R. Banks 305 - 43 + 26 281 Other deposits with F.R. Banks 3/ 675 + 37 + 116 594 Other F.R. liabilities and capital 3,773 - 337 + 761 3,728 115,069 +1 ,479 +11,554 115,902 Member bank reserves: With Federal Reserve Banks 26,882 - 869 + 2,051 25,147 Currency and coin 9,396 + 182 + 645 9,396 Total reserves held 4/ 36,353 - 685 + 2,619 34,618 Required reserves "~ 36,282 - 269 + 2,581 36,282 Excess reserves 4/ 71 - 416 + 38 -1,664 NOTE: A net of $198 million of surplus reserves were eligible to be carried forward from the week ended May 31, into the week ending June 7. On June 7, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $85,854 million, an increase of $1,000 million for the week. 17 Net of $3,766 million, daily average, matched sale-purchase trans actions outstanding during the latest statement week, of which $2,156 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2/ Net of $4,899 million matched sale-purchase transactions out standing at the end of the latest statement week,of which $2,154 million was with foreign official and international accounts. Includes $186 million securities loaned--fully secured by U. S. Government securities. V 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 $75 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 fin millions of dollars) Wednesday j Change since June 7, May 31, June 8, A S S E TS 1978 1 1978 1977 Gold certificate account 11,718 — + 89 Special Drawing Rights certif. acct. 1,250 ~ + 50 Coin 281 10 28 Loans 553 - 614 214 Acceptances—Bought outright — — 54 Held under repurchaae agreements -- - 274 — Federal Agency obligations--Bought outright 7,895 -- + 818 Held under repurchase agreements 1/ -- • 26 -- U.S. Government securities: Bought outrigtit--B^ll9 36,682 -2,991 + 6,239 Certificates Notes 52,055 -_ + 3,323 Bonds 10,667 -- + 2,533 Total bought outright 2/ 99,404 -2,991 +12,095 Held under repurchase agreements 1/ -- -- 443311 — Total U.S. Government securities 99,404 --33,,442222 +12,095 Total loans and securities 107,852 -4,336 +12,645 Cash items in process of collection (1,961) 12,870 +1,565 + 3,546 Bank premises 388 -- + 17 Other assets 3/ 2,125 73 180 TOTAL ASSETS (1,961) 136,484 -2,854 +16,139 L I A B I L I T I ES Federal Reserve notes 95,020 + 450 + 9,019 Deposits: Member bank-reserves account 25,147 -4,439 + 2,807 U.S. Treasury—general account 4,989 +2,591 + 2,266 Foreign 281 - 173 12 Other 4y 594 - 66 + 40 Total deposits 31,011 -2,087 + 5,101 Deferred availability cash items (1,961) 6,725 - 710 + 1,302 Other liabilities and accrued dividends 1,484 - 30 + 586 TOTAL LIABILITIES (1,961) 134,240 -2,377 +16,008 C A P I T AL A C C O U N TS Capital paid in 1,052 + 52 Surplus 1,029 + 46 Other capital accounts 163 - 476 + 33 * 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 $4,899 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $186 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. June 7, 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 I changes changes Within 15 days 493 2,235 - 721 98 - 70 16 days to 90 days 60 17,447 -2,682 152 + 47 91 days to 1 year 29,398 18 1,344 - 3 Over 1 year to 5 years 29,686 1 3,817 — Over 5 years to 10 years 11,760 -- 1,637 .- Over 10 years 8,878 -- 847 -- Total 553 99,404 -3,422 7,895 - 26 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 June 7, 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 11,718 660 3,353 598 921 974 518 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 281 16 24 12 39 23 24 21 20 10 44 13 35 Loans 553 85 20 64 28 125 33 39 60 25 20 39 15 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 36,682 1,707 8,923 1,837 3,053 3,004 1,659 5,850 1,498 881 1,503 1,904 4,863 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/ 99,404 4,626 24,181 4,978 8,273 8,139 4,497 15,853 4,060 2,386 4,073 5,160 13,178 Held under repurchase agreements 2/ -- -- -- -- -- -- -- — -- -- — -- Total U.S. Government securities 99,404 4,626 24,181 4,978 8,273 8,139 4,497 15,853 4,060 2,386 4,073 5,160 13,178 Total loans and securities 107,852 5,078 26,122 5,438 8,958 8,911 4,887 17,151 4,442 2,600 4,416 5,609 14,240 Cash items in process of collection 14,831 406 2,873 344 694 2,093 1,672 1,867 493 671 1,121 810 1,787 Bank premises 388 106 10 55 23 80 16 16 13 29 19 12 9 Other assets 37 2,125 90 461 95 233 143 116 243 71 45 71 97 460 Interdistrict settlement account -0- - 146 + 639 - 115 - 190 - 77 - 281 - 44 - 143 - 181 + 113 - 34 + 459 TOTAL 138,445 6,272 33,795 6,501 10,785 12,260 7,016 21,215 5,415 3,430 6,253 7,064 18,439 17 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 $4,899 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $186 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 JUNE 7, 1978 New Phila Cleve Rich St. Minne- Kansas San 1 Total Boston York delphia land mond Atlanta Chicago Louis ap o 1 i s City Dallas Franci sco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 95,020 4,969 24,22C 4,991 8,033 8,581 3,581 15,757 4,069 1,918 3,771 4,244 10,886 Deposits: Member bank reserves 25,147 588 6,122 863 1,525 1,227 1,670 3,546 689 693 1,201 1,812 5,211 U.S. Treasury--general account 4,989 291 76S 287 416 567 444 549 211 165 280 269 741 Foreign 281 8 1/ 77 12 23 15 21 42 8 8 12 16 39 Other 2/ 594 2 486 * 2 17 58 4 1 3 1 12 8 TotaF deposits 31,011 889 7,454y 1,162 1,966 1,826 2,193 4,141 909 869 1,494 2,109 5,999 Deferred availability cash items 8,686 281 1,245 193 497 1,618 969 785 317 545 844 519 873 Other liabilities and accrued dividends 1,484 62 291 61 98 112 109 190 48 31 50 65 367 TOTAL LIABILITIES 136,201 6,201 33,21C 6,407 10,594 12,137 6,852 20,873 5,343 3,363 6,159 6,937 18,125 CAPITAL ACCOUNTS Capital paid in 1,052 32 276 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 163 7 42 6 14 13 7 25 7 4 6 9 23 TOTAL LIABILITIES AND j CAPITAL ACCOUNTS 138,445 6,272 33,795 6,501 10,785 12,260 7,016 21,215 5,415 3,430 6,253 7,064 18,439 . . FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 105,154 5,648 25,802 5,490 8,536 9,154 4,570 17,182 4,484 2,273 4,450 5,205 12,360 Collateral for F.R. notes: Gold certificate account 11,718 660 3,353 598 921 974 518 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 537 o/ 85 20 62 28 125 25 38 60 25 19 36 14 U.S. Government securities 91,649 ^'4,841 22,116 4,756 7,480 f,9 42 ,963 15,183 3,905 ,992 3,962 10,897 Total collateral 105,154 5,648 25,802 5,490 8,536 9,154 4,570 17,182 4,484 2,273 4,450 T7205"" 12,360 1/ After deducting $204 million participations of other Federal Reserve Banks. 2/ Includes $13 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. 37 Includes securities borrowed from other Reserve Banks. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis