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 June 22, 19 78 Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, June 21, June 14, j June 22, June 21, and related items 1978* 1978 . A 1977 1978* Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 1/ 105,957 +4,596 + 9,713 \ll 108,069 Held under repurchase agreements 1,240 +1,240 + 290 2,782 Special Certificates Federal Agency oblications-- Bought outright 7,867 16 + 757 7,867 Held under repurchase agreements 128 + 128 + 73 659 Acceptances-- «_ -.- .. Bought outright 48 Held under repurchase agreements 175 + 175 + 20 436 Loans-- Total member bank borrowing 1,194 + 400 + 923 2,575 Includes seasonal borrowing of: 123 + 17 + 71 126 Other borrowing Float 5,666 + 141 + 1,889 6,117 Other F.R. assets 2,787 + 347 119 2,631 Total Reserve Bank credit 125,014 +7,010 +13,496 131,136 Gold Stock 11,706 -- + 77 11,706 Special Drawing Rights certif. acct. 1,250 -- + 50 i 1,250 Treasury currency outstanding 11,576 + 5 + 466 11,578 149,546 +7,015 +14,089 155,670 Currency in circulation ** 105,654 - 176 + 9,661 105,765 Treasury cash holdings ** 368 + 6 72 370 Treasury deposits with F.R. Banks 9,231 +5,541 + 541 1 14,132 Foreign deposits with F.R. Banks 258 —. 3 274 Other deposits with F.R. Banks y 912 + 42 + 312 652 Other F.R. liabilities and capital 4,371 + 452 +1,082 j 3,987 120,795 +5,865 +11,522 1 125,180 Member bank reserves: With Federal Reserve Banks 28,751 +1,151 + 2,567 30,490 Currency and coin 9,035 - 489 + 675 9,035 Total reserves held 4/ 37,859 + 662 + 3,163 39,598 Required reserves 37,527 + 461 + 2,904 ! 37,527 Excess reserves 4/ 332 + 201 + 259 2,071 NOTE: A net of $26 million of surplus reserves were eligible to be carried forward from the week ended June 14, into the week ending June 21. On June 21, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $83,980 million, a decrease of $966 million for the week. 1/ Net of $1,741 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $977 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. Government securities. 2/ Includes $118 million securities loaned — fully secured by U.S. Government securities. 3/ Includes $17 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 $73 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (San Francisco District). ** 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 (Tn millions of dollars) Wedne sday ] Change since J une 21j June 14 } June 22, A S S E TS 1978** 1978 j 1977 Gold certificate account 11,706 -_ 4- 77 Special Drawing Rights certif. acct. 1,250 ... + 50 Coin 284 -- - 29 Loans 2,575 4- 1,022 4-1,361 Acceptances--Rought outright .. -. - 47 Held under repurchase agreements 436 4- 436 + 84 Federal Agency obligations—Bought outright 7,867 -_ + 431 Held under repurchase agreements JL/ 659 4- 659 + 415 U.S. Government securities: Bought outright—Bills 44,290 4-10,307 + 4,917 Certificates Notes 52,997 4- 942 + 3,909 Bonds 10,782 4- 115 +_2 ,534 Total bought outright 2/ 108,069 4-11,364 4-11,360 Held under repurchase agreements 1/ 2,782 4- 2,782 + 40 Total U.S. Government securities 110,851 4-14,146 4-11,400 Total loans and securities 122,388 4-16,263 4-13,644 Cash items in process of collection (2,308) 12,981 419 4- 3,116 Bank premises 390 4- 2 4- 19 Other assets 3_/ 2,241 4- 191 371 TOTAL ASSETS (2,308) 151,240 4-16,037 4-16,506 L I A B I L I T I ES Federal Reserve notes 94,841 292 4- 9,084 Deposits: Member bank-reserves account 30,490 4- 6,111 4- 4,509 U.S. Treasury—general account 14,132 4-10,501 4- 1,174 Foreign 274 4- 26 4- 24 Other ^J 652 23 4- 21 Total deposits 45,548 4-16,615 4- 5,728 Deferred availability cash items (2,308) 6,864 4- 21 4- 1,055 Other liabilities and accrued dividends 1,464 446 4- 457 TOTAL LIABILITIES (2,308) 148,717 4-15,898 4-16,324 C A P I T AL A C C O U N T S. Capital paid in 1,056 4- 2 4- 56 Surplus 1,029 -- 4- 46 Other capital accounts 438 4- 137 4- 80 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (San Francisco District). \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 $1,345 million was outstanding at the end of the latest statement week. 2/ Includes $118 million securities loaned--fully secured by U.S. Government securities. _3/ Includes assets denominated in foreign currencies. 4/ Includes $17 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 21> 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 Loan 9 Accept securities obligations ances Holdings Weekly Holdings Weekly changes changes Within 15 days 2,547 436 9,802 4-7, 607 690 +690 16 days to 90 days 28 19,980 4-5, 117 232 - 30 91 days to 1 year 29,823 + 500 1,437 Over 1 year to 5 years 30,404 + 718 3,794 Over 5 years to 10 years 11,849 + 89 1,526 Over 10 years 8,993 4- 115 847 Total T7F75 T5Z 110,851 +14 ,146 "8,526 +659 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 21, 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) A S S E TS Gold certificate account 11,706 660 3,341 598 921 974 518 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 284 16 24 12 39 24 25 21 21 9 45 14 34 Loans 2,575 117 467 61 41 235 109 503 35 34 88 320 565 Acceptances: Bought outright -- -_ -- -- _. ._ .- — -- -- -- -- -- Held under repurchase agreements 436 -- 436 -- -- -- -« -- -- -- >_ -- -- Federal Agency obligations— Bought outright 7,867 366 1,914 394 655 644 356 1,255 321 189 322 408 1,043 Held under repurchase agreements 1/ 659 -- 659 -- -- -- -- — -- -- -- .- -- U.S. Government securities: Bought outright— Bills 44,290 2,061 10,774 2,218 3 ,686 3,626 2,003 7,064 1,809 1,063 1,815 2,299 5,872 Certificates -- -- -- -- -- — — _- — -- -- — Notes 52,997 2,466 12,892 2,655 4 ,411 4,340 2,397 8,452 2,164 1,272 2,171 2,751 7,026 Bonds 10,782 502 2,623 540 897 883 488 1,719 440 259 442 560 1,429 Total bought outright 2/ 108,069 5,029 26,289 5,413 8 ,994 8,849 4,888 17,235 4,413 2,594 4,428 5,610 14,327 Held under repurchase agreements _1/ 2,782 -- 2>782 -- -- -- -- -- -_ -- -- -- -- Total U.S. Government securities 110,851 5,029 29,071 5,413 8",9 94 8,849 4,888 17,235 4,413 2,594 4,428 5,610 14,327 Total loans and securities 122,388 5,512 32,547 5,868 9 ,690 9,728 5,353 18,993 4,769 2,817 4,838 6,338 15,935 Cash items in process of collection 15,289 453 1,853 436 932 2,245 1,532 2,381 644 794 1,209 890 1,920 Bank premises 390 106 10 56 23 81 16 16 13 29 19 12 9 Other assets 2,241 147 549 93 153 151 114 260 76 53 81 114 450 Interdistrict settlement account -0- - 151 -3,220 - 124 -248 - 154 + 426 + 6 + 52 + 23 + 509 - 29 +2,910 TOTAL 153,548 6,805 35,417 7,013 11 ,617 13,162 8,048 23,638 6,094 3,981 7,170 7,896 22,70/ 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 $1,345 million was outstanding at the end of the latest statement week. 2/ Includes $118 million securities loaned--fully secured by U.S. Government securities. _3/ Includes assets denominated in foreign currencies. * Estimated (San Francisco District). 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 21, 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 94,841 4,939 24,150 4,977 7,978 8,577 3,645 15,691 4,050 1,895 3,789 4,289 10,861 Deposits: Member bank reserves 30,490 551 6,747 783 1,614 1,378 2,070 4,172 926 716 1,316 1,780 8,437 14,132 857 1,992 822 1,149 1,051 1,044 2,268 488 624 994 987 1,856 U.S. Treasury—general account 274 8 1/ 70 12 23 15 21 42 8 8 12 16 39 Foreign 652 * 546 * 1 14 56 10 1 2 3 8 11 Other 2/ TToottaall ddeeppoossiittss 45,548 1,416 9,355 1,617 2,787 2,458 3,191 6,492 1,423 1,350 2,325 2,791 10,343 DDeeffeerrrreedd aavvaaiillaabbiilliittyy ccaasshh iitteemmss 9,172 307 859 245 531 1,873 965 867 485 630 901 605 904 Other liabilities and accured dividends 1,464 60 398 66 106 108 71 202 53 33 49 70 248 TOTAL LIABILITIES 151,025 6,722 34,762 6,905 11,402 13,016 7,872 23,252 6,011 3,908 7,064 7,755 22,356 CAPITAL ACCOUNTS Capital paid in 1,056 32 276 44 90 56 79 160 33 32 46 60 148 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 438 19 112 20 38 35 19 69 18 10 17 23 58 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 153,548 6,805 35,417 7,013 11,617 13,162 8,048 23,638 6,094 3,981 7,170 7,896 22,707 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 105,455 5,636 25,795 5,577 8,474 9,232 4,700 17,090 4,478 2,268 4,472 5,260 12,473 Collateral for F.R. notes: Gold certificate account 11,706 660 3,341 598 921 974 518 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 2,238 116 336 60 41 235 109 430 35 31 83 305 457 U.S. Government securities 90.261 4,798 21,805 4,845 7,405 7,910 4,009 14,699 3,924 1,981 3,920 4,398 10,567 Total collateral 105,455 5,636 25,795 5,577 8,474 9,232 4,700 17,090 4,478 2,268 4,472 5,260 12,473 1/ After deducting $204 million participations of other Federal Reserve Banks. 2/ Includes $17 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. * Less than $500,000. ** Estimated (San Francisco District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis