H.4.1 Factors Affecting Reserve Balances of Depository Institutions

'^ii: FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release July 6, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, July 5, June 28, July 6, July 5.. and related items 1978 1978 1977 1978 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- 2/ Bought outright--System account 1/ 106,793 + 552 + 8,936 -100,010 Hold under rrpurcha.se agreements 2,596 + 844 - 1,674 1,761 Special Certificates Federal Agency oblications-- Bought outright 8,168 + 301 + 745 8,168 Held under repurchase agreements 634 69 + 123 594 Acceptances-- Bought outright 42 Held under repurchase agreements 972 512 486 784 Loans-- Total member bank borrowing 1,194 522 + 929 647 Includes seasonal borrowing of: 140" 5 + 79 136 Other borrowing Float 4,943 159 + 1,373 7,337 Other F.R. assets 2,606 17 - 464 3,014 Total Reserve Bank credit 127,907 +1,795 +10,412 122,315 Gold Stock 11,706 + 86 11,706 Special Drawing Righrs certif. acct. 1,250 + 50 1,250 Treasury currency outstanding 11,396 f 3 + 478 11,607 152,459 +11,026 146,878 +1,798 Currency in circulation * 106,581 + 9,516 107,470 Treasury cash holdings * 370 +1,047 71 370 Treasury deposits with F.R. Banks 10,338 - 2,222 9,591 Foreign deposits with F.R. Banks 304 -1,32656 64 298 Other deposits with F.R. Banks 3/ 798 150 + 74 815 Other F.R. liabilities and capital 4,166 95 + 706 3,701 122,556 + 31 + 7,938 122,245 Member bank reserves: With Federal Reserve Banks 29,902 +1,766 + 3,087 24,632 Currency and coin 9,509 + 121 + 833 9,509 Total reserves held 4/ 39,479 +1,885 + 3,860 34,209 Required reserves 38,347 + 997 + 3,222 38,347 Excess reserves 4/ 1,132 + 888 + 638 » 4,138 NOTE: A net of $127 million of surplus reserves were eligible to be carried forward from the week ended June 28, into the week ending July 5. On July 5, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $86,788 million, an increase of $2,372 million for the week. 1/ Net of $2,616 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,630 million was with foreign official and international accounts. Includes securities loanedfully secured by U.S. Government securities. 2/ Net of $9,220 million matched sale-purchase transactions, outstanding at the end of the latest statement week of which $2,316 million was with foreign official and international accounts. Includes $257 million securities loanedfully 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 $68 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 FEDERAL RESERVE BANKS (In millions of dollars) Wf;rfnefl''ay ___[[[ !!!iiihhh333FFF,,,222eee since Ju^y 5, July 0, A S S E TS 1978 ___jjj JJJ... """rrr ***rrriii 1977 Gold certificate account 11,706 4- 66 Special Drawing Rights certif. acct c 1,250 -.. 4- 5U Coin 263 21 - 40 Loans 647 - 2,001 4* 462 Ac ce p t auc e s - -Bough t ou t. r i gh t: -- -- - 41 Held under repurchase agreements 784 4- 64 4- 784 Federal Agency obligations--Bought outright 8,168 + 301 4- 745 Held under repurchase agreements 1/ 594 482 + 594 U.S. Government securities: ~" Bought outright—Bills 36,231 6,908 - 3,128 Certificates Notes 52,997 ... + 3,909 Bonds 1100,,778822 -- 2,534 Total bought outright 2/ 110000,,001100 — C,908 ++ 3,315 Held under repurchase agreements JL/ 1,761 - 1,829 4 1,761 Total U.S. Government securities 101,771 - 8,737 H-5,076 Total loans and securities 111,964 10,855 + 7,620 Cash items in process of collection (1 ,980) 12,927 4- 1,133 4 2,008 Bank premises 389 - 1 + 17 Other assets 3J 2,625 + 468 - 170 TOTAL ASSETS (1 980) 141,124 ^ 9,276 ±_9, 571 Federal Reserve notes 96,497 + 1,223 + 8,907 Deposits: Member bank-reserves account 24,632 - 6,899 + 1,527 U.S. Treasury--general account 9,591 - 2,582 - 56 Foreign 298 4- 89 - 74 Other jV 815 + 152 4- 208 Total deposits 35,336 - 9,240 4- 1,605 Deferred availability cash items (1 980) 5,590 - 793 - 1.483 Other liabilities and accrued dividends 1,465 - 104 + 414 TOTAL LIABILITIES (1 980) 138,888 - 8,914 + 9,443 C A P I T AL A C C O U N TS Capital paid in 1,056 - + 54 Surplus 1,029 -- 4- 46 Other capital accounts 151 - 362 + 28 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 $9,220 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $257 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. J**ly 5> 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 569 784 4,459 -3,784 622 -485 16 days to 90 days 78 14,076 -5,934 269 + 37 91 days to 1 year 31,610 + 6C1 1,448 4 11 Over 1 year to 5 years 30,784 + 380 3,921 4127 Over 5 years to 10 years U.,849 .- 1,631 4 105 Over 10 years 8,993 ;; 871 4 24 Total 647 784 ,7/1 8,762 --181 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 July 5, 1978 New Fhila- 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 263 14 19 9 39 22 22 21 19 8 45 12 33 Loans 647 35 30 37 15 26 109 69 19 68 44 171 2* Acceptances: Bought outright -- -- •~ ~~ ~~ ~~ ~~ -- "- -- -- -- -" Held under repurchase agreements 784 -- 784 — -- -- -- -- -- -- -" -- Federal Agency obligations-- Bought outright 8,168 380 1,987 ^09 680 669 369 1,303 333 196 335 424 1,083 Held under repurchase agreements 1/ 594 -" 594 ~- "~ -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 36,231 1,686 8,814 1,814 3,Oi5 2,966 1,639 5,779 1,480 869 1,484 1,881 4,804 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 BBoonnddss 10,782 302_ 2,623 540 897 883 488 1,719 440 259 442 560 1,429 4/ TToottaall bboouugghhtt oouuttrriigghhtt 2277 100,010 4,654 24,329 5,009 8,323 8,189 4,524 15,950 4,084 2,400 4,097 5,192 13,259 HHHeeelllddd uuunnndddeeerrr rrreeepppuuurrrccchhhaaassseee aaagggrrreeeeeemmmeeennntttsss 222.../// 1,761 -- 1,761 -- -- -- -- -- -- -- -- -- -- TTToootttaaalll UUU...SSS... GGGooovvveeerrrnnnmmmeeennnttt ssseeecccuuurrriiitttiiieeesss 101,771 4,654 26,090 5,009 8,323 8,189 4,524 15,950 4,084 2,400 4,097 5,192 13,259 TTToootttaaalll llloooaaannnsss aaannnddd ssseeecccuuurrriiitttiiieeesss "~'i 11,964 5,069 29,485 5,455 9,018 8,884 5,002 17,322 4,436 2,664 4,476 5,787 14,366 Cash items in process of collection 14,907 409 2,229 308 800 2,232 1,299 2,242 659 789 1,222 1,277 1,441 BBaannkk pprreemmiisseess 389 106 10 55 23 81. 16 16 13 29 19 12 9 OOtthheerr aasssseettss 22// 2,625 120 503 96 153 196 497 308 89 79 79 116 389 nntteerrddiissttrriicctt sseettttlleemmeenntt aaccccoouunntt -0- + 105 -1,046 + 424 + 170 + 397 - no + 257 + 235 + 10 - 8 - 180 - 254 TTOOTTAALL 143,104 6,545 34,854 7,019 11,231 12,899 7,308 22,127 5,970 3,835 6,302 7,581 17,433 ]_f 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 $9,220 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $257 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 JULY 5, 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 96,497 5,062 24,529 5,056 8,093 8,792 3,713 15,930 4,122 1,899 3,850 4,358 11,093 Deposits: Member bank reserves 24,632 435 6,090 888 1,318 1,191 1,545 4,156 806 641 1,099 1,909 4,554 U.S. Treasury—general account 9,591 706 2,128 669 1,205 660 756 809 434 454 349 640 781 Foreign 298 9 1/ 93 12 23 15 21 42 8 8 12 16 39 Other 2/ 815 637 1 9 56 6 72 4 1 9 20 Total deposits 35,336 1,150 8,948 1,569 2,547 1,875 2,378 5,013 1,320 1,107 1,461 2,574 5,394 Deferred availability cash items 7,570 195 411 237 294 l f 991 976 648 405 718 848 453 394 Other liabilities and accured dividends 1,465 69 383 64 107 120 78 198 52 34 48 70 242 TOTAL LIABILITIES 140,868 6,476 34,271 6,926 11,041 12,778 7,145 21,789 5,899 3,758 6,207 7,455 17,123 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 1 151 5 40 5 13 10 6 21 6 14 6 8 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 143,104 6,545 34,854 7,019 11,231 12,899 7,308 22,127 5,970 3,835 6,302 ' 7,581 17,433 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding rTo5,789 5,709 25,919 5,596 8,515 9,262 4,613 17,110 4,498 2,291 4,493 5,259 12,524 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 613 23 36 15 26 103 64 19 68 36 164 24 U.S. Government securities 92,220 -- 3377// 44 ,,99 33 55 55 22 22,242 4,888 7,472 8,149 3,928 15,085 3,960 1,967 3,988 4,538 11,051 Total collateral 105,789 5,709 25,919 5,596 8,515 9,262 4,613 17,110 4,498 2,291 4,493 5,259 12,524 • —ions of other Federal Reserve Banks. T/ 7 r " FederlrResL^ Bank's? " '^ deP°SitS °f f o r e i6 ~< banking institutions voluntarily held with me ra ber banks and redeposited in full with 3/ Includes securities borrowed from other Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis