H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and .f**^- Condition Statement of F.R. Banks H.4.1 Fot immediate release June 29, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, June 28 June 21, June 29, June 28, and related items 1978* 1978 1977 1978* Reserve Bank credit: (In millions of dollars) U.S. Government securities-- 2/ Bought outright--System account 1/ 106,241 + 284 +7,882 106,918 Held under repurchase agreements 1,752 + 512 -1,881 3,590 Federal Agency obligations-- Bought outright 7,867 + 431 7,867 Held under repurchase agreements 703 575 + 261 1,076 Acceptances-- Bought outright 45 Held under repurchase agreements 460 285 60 720 Loans-- Total member bank borrowing 1,716 522 +1,382 2,648 Includes seasonal borrowing of: 135 12 + 65 140 Other borrowing Float 4,751 882 +1,330 5,385 Other F.R. assets 2,590 197 - 430 2,552 Total Reserve Bank credit 126,080 +1,099 +8,870 130,756 Gold Stock 11,706 + 80 11,706 Special Drawing Rights certif. acct, 1,250 + 50 1,250 Treasury currency outstanding 11,593 17 + 480 11,594 150,629 +1,116 +9,479 155,306 Currency in circulation ** 105,532 - 136 +9,581 106,196 Treasury cash holdings ** 370 + 13 71 370 Treasury deposits with F.R. Banks 11,663 +2,432 -2,395 12,173 Foreign deposits with F.R. Banks 238 20 21 209 Other deposits with F.R. Banks 2/ 648 - 264 + 20 663 Other F.R. liabilities and capital 4,071 - 300 + 546 4,164 122,522" +1,726 +7,661 123,775 Member bank reserves: With Federal Reserve Banks 28,107 - 609 +1,817 31,531 Currency and coin 9,388 + 353 + 765 9,388 Total reserves held 4/ 37,565 - 259 +2,501 40,989 Required reserves 37,350 - 177 +2,436 37,350 Excess reserves 4/ 215 - 82 + 65 3,639 NOTE: A net of $103 million of surplus reserves were eligible to be carried forward from the week ended June 21, into the week ending June 28. On June 28, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $84,416 million, an increase of $436 million for the week. 1/ Net of $1,906 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,299 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. Government securities. 2/ Net of $1,350 million matched sale-purchase transactions outstanding at the end of the latest statement week>of which $1,350 million was with foreign official and international accounts. Includes $224 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. Adjusted to include $70 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Cleveland 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 (In millions of dollars) WWeeddnneessddaayy Change since JJuunnee 2288,, June 21, June 29, A S S E TS 1978** 1978 1977 Gold certificate account 11,706 -- + 86 Special Drawing Rights certif. acct. * 1,250 — + 50 Coin 284 -- - 29 Loans 2,648 + 73 + 2,042 Acceptances--Bought outright -- — - 43 Held under repurchase agreements 720 + 284 + 307 Federal Agency obligations--Bought outright 7,867 -- + 431 Held under repurchase agreements JL/ 1,076 + 417 + 734 U.S. Government securities: Bought outright—Bills 43,139 -1,151 + 2,165 Certificates Notes 52,997 -_ + 3,909 Bond s 1100,,778822 .- 2,534 Total bought outright 2/ 110066,,991188 -1,151 ++ 8,608 Held under repurchase agreements J7 3,590 + 808 + 36 Total U.S. Government securities 110,508 - 343 + 8,644 Total loans and securities 122,819 + 431 +12,115 Cash items in process of collection (2 3 147) 11,896 -1,098 + 1,995 Bank premises 390 -- + 20 Other assets _3/ 2,162 - 79 - 450 TOTAL ASSETS (2 147) 150,507 - 746 +13,787 Federal Reserve notes 95,256 + 402 + 8,941 Deposits: Member bank-reserves account 31,531 +1 ,041 + 7,483 U.S. Treasury—general account 12,173 -1, 959 - 3,942 Foreign 209 - 65 78 Other V 663 + 11 + 71 Total deposits 44,576 - 972 + 3,534 Deferred availability cash items (2 147) 6,511 - 353 + 674 Other liabilities and accrued dividends 1,566 + 102 + 476 TOTAL LIABILITIES (2 147) 147,909 " 821 +13,625 CAPITAL ACCOUNTS _ _ Capital paid in 1,056 + 56 Surplus 1,029 -- + 46 Other capital accounts 513 + 75 + 60 Figures in parentheses are the eliminations made in the consolidating process. Estimated (Cleveland District). 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 $1,350 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $224 million securities loaned-fully secured by U.S. Government securities. 2/ 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 28. 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 2,610 720 8,243 -1,559 1,107 + 417 16 days to 90 days 38 20,010 + 30 232 -- 91 days to 1 year 31,009 +1,186 1,437 — Over 1 year to 5 years 30,404 — 3,794 — Over 5 years to 10 years 11,849 -- 1,526 — Over 10 years 8,993 -- 847 — Total 2,648 720 110,508 343 8,943 + 417 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 28, 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 1 284 15 22 11 40 24 23 23 21 9 46 14 36 Loans 2,648 201 598 216 133 229 328 127 71 39 69 316 321 Acceptances: Bought outright __ -_ -- -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements 720 _.. 720 -- -- -- -- -- -- -- -- -- -- 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 JL/ 1,076 -- 1,076 -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright — Bills 43,139 2,008 10,494 2,160 3,590 3,532 1,951 6,881 1,762 1,035 1,768 2,239 5,719 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/ 106,918 4,976 26,009 5,355 8,898 8,755 4,836 17,052 4,366 2,566 4,381 5,550 14,174 Held under repurchase agreements 17 3,590 -- 3,590 -- -- -_ -- -- -- -- -- -- -- Total U.S. Government securities 110,508 4,976 ~ 29,599 5,355 8,898 8,755 4,836 17,052 4,366 2,566 4,381 5,550 14,174 Total loans and securities 122,819 5,543 33,907 5,965 9,686 9,628 5,520 18,434 4,758 2,794 4,772 6,274 15,538 Cash items in process of collection 14,043 407 1,650 483 832 2,252 1,356 1,970 622 696 1,026 1,022 1,727 Bank premises 390 106 10 56 23 81 16 16 13 29 19 12 9 Other assets 3) 2,162 149 478 99 157 156 129 277 77 48 85 115 392 Interdistrict settlement account -0- + 22 -3,554 - 10 + 155 - 553 + 204 - 202 + 96 + 18 +1,006 + 550 +2,268 TOTAL 152,654 6,964 36,167 7,276 11,921 12,675 7,830 22,479 6,106 3,850 7,423 8,544 21,419 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 $1,350 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $224 million securities loaned--fuily secured by U.S. Government securities. •3/ Includes assets denominated in foreign currencies. * Estimated (Cleveland 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 28, 1978 New Phila Cleve Rich St. Mi nne - 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 95,256 4,985 24,220 4,998 7,999 8,676 3,635 15,743 4,066 1,892 3,799 4,280 10,963 Deposits: Member bank reserves 31,531 788 7,185 881 1,674 1,475 2,093 4,460 879 755 1,486 2,127 7,728 U.S. Treasury--general account 12,173 769 2,161 937 1,336 405 900 852 573 479 1,152 1,274 1,335 Foreign 209 9 1/ 4 12 23 15 21 42 8 8 12 16 39 Other 2/ 663 565 1 1 12 51 7 2 1 2 7 14 Total deposits 44,576 1,566 9,915 1,831 3,034 1,907 3,065 5,361 1,462 1,243 2,652 3,424 9,116 Deferred availability cash items 8,658 263 883 268 554 1,828 884 764 430 602 811 622 749 Other liabilities and accured dividends 1,566 63 473 66 113 110 70 212 62 40 53 73 231 TOTAL LIABILITIES 150,056 6,877 35,491 7,163 11,700 12,521 7,654 22,080 6,020 3,777 7,315 8,399 21,059 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 513 23 133 25 44 43 19 82 21 10 19 27 67 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 152,554 6,964 36,167 7,276 11,921 12,675 7,830 22,479 6,106 3,850 7,423 8,544 21,419 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 105,623 5,657 25,855 5,589 8,488 9,240 4,648 17,107 4,500 2,292 4,477 5,270 12,500 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 2,476 170 524 215 133 229 308 111 71 39 62 302 312 U.S. Government securities 90,191 4,765 21,677 4,702 7,327 7,924 3,758 15,035 3,910 1,997 3,946 4,411 10,739 Total collateral 105,623 5,657 25,855 5,589 8,488 9,240 4,648 17,107 4,500 2,292 4,477 5,270 12,500 1/ After deducting $205 million participations of other Federal Reserve Banks. 27 Includes $17 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. * Estimated (Cleveland District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis