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 July 13, 1978 Averages of dally figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, July 12, July 5, 1 July 13, July 12, and related items 1978* 1978 1 1977 1978* Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 1/ 106,710 - 83 + 9,275 2/107,754 Held under repurchase agreements 223 -2,373 + 223 1,562 Federal Agency obligations-- -- Bought outright 8,168 + 745 8,168 Held under repurchase agreements 80 - 554 + 80 561 Acceptances— _- _- -_ Bought outright 37 Held under repurchase agreements 22 - 950 + 22 157 Loans— Total member bank borrowing 904 - 290 + 744 1,099 Includes seasonal borrowing of: 130 10 + 79 131 Other borrowing Float 7,056 +2,445 + 2,124 6,385 Other F.R. assets 2,618 + 12 - 554 2,620 Total Reserve Bank credit 125,782 -1,793 +12,622 128,306 Gold Stock 11,704 2 + 88 11,695 Special Drawing Rights certif. acct. 1,250 — + 50 1,250 Treasury currency outstanding 11,607 + 11 + 467 11,607 150,343 -1,784 +13,227 152,858 Currency in circulation ** 107,627 +1,029 + 9,706 107,941 Treasury cash holdings ** 368 + 15 71 370 Treasury deposits with F.R. Banks 10,511 + 173 + 1,489 10,562 Foreign deposits with F.R. Banks 299 5 + 28 226 Other deposits with F.R. Banks V 727 71 + 97 710 Other F.R. liabilities and capital 3,779 - 387 + 517 3,935 123,311 + 755 +11,767 123,744 Member bank reserves: With Federal Reserve Banks 27,032 -2,538 + 1,460 29,114 Currency and coin 9,760 + 251 + 796 9,760 Total reserves held 4/ 36,859 -2,288 + 2,224 38,941 Required reserves 37,050 -1,297 + 2,679 37,050 Excess reserves 4/ 191 - 991 - 455 1,891 NOTE: A net of $334 million of surplus reserves were eligible to be carried forward from the week ended July 5, into the week ending July 12. On July 12, 1978. marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $86,994 million, an increase of $206 million for the week. 1/ Net of $2,353 million, daily average, matched sale-purchase transactions .outstanding during the latest statement week, of which $1,743 million was with foreign official and international accounts. Includes securities loanedfully secured by U.S. Government securities. 2/ Net of $1,281 million matched sale-purchase transactions, outstanding at the end of the latest statement week of which $1,281 million was with foreign official and international accounts. Includes $215 million securities loanedfully secured by U.S. Government securities. 3/ Includes $19 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 $67 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. Estimated (Richmond 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) Wednesday Change since July 12, Ju ly 5, July 13, A S S E TS 1978** 1978 1977 i Gold certificate account 11,695 - 11 + 90 Special Drawing Rights certif, acct. 1,250 — + 50 Coin 259 - 4 - 44 Loans 1,099 + 452 + 716 Acceptances—Bought outright -- .- - 32 Held under repurchase agreements 157 - 627 + 157 Federal Agency obligations—Bought outright 8,168 -- + 745 Held under repurchase agreements 1/ 561 - 33 + 561 U.S. Government securities: Bought outright—Bills 43,975 +7,744 + 4,612 Certificates Notes 52,997 + 3,909 Bonds 10,782 — + 2,534 Total bought outright 2/ 107,754 +7,744 +11,055 Held under repurchase agreements J7 1,562 - 199 + 1,562 Total U.S. Government securities 109,316 +7,545 + 12,617 Total loans and securities 119,301 +7,337 +14,764 Cash items in process of collection (1,875) 14,067 +1,140 + 4,975 Bank premises 387 2 + 15 Other assets JV 2,233 - 392 - 1,466 TOTAL ASSETS (1,875) 149,192 +8,068 +18,384 L I A B J C L i H ES Federal Reserve notes 96,963 + 466 + 9,602 Deposits: Member bank-reserves account 29,114 +4,482 +4,498 U.S. Treasury--general account 10,562 + 971 + 2,035 Foreign 226 72 25 Other 4/ 710 - 105 + 33 Total deposits 40 ,612 +5 ,276 + 6,541 Deferred availability cash items (1,875) 7 ,682 +2 ,092 + 1,594 Other liabilities and accrued dividends 1 .576 + 111 + 517 TOTAL LIABILITIES (1,875) 146,833 +7,945 +18,254 C A P I T AL A C C O U N TS Capital paid in 1,057 + 1 + 53 Surplus 1,029 + 46 Other capital accounts 273 + 122 + 31 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (Richmond 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 $1,281 million matched sale-purchase transactions outstanding at the end of the. latest statement week. Includes $215 million securities loaned-fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. 4/ Includes $19 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. July 12, 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 1,030 157 5,527 +1 ,068 589 -33 16 days to 90 days 69 20,610 +6 ,534 269 -- 91 days to 1 year 31,552 - 58 1,483 +35 Over 1 year to 5 years 30,785 + 1 3,886 -35 Over 5 years to 10 years 11,849 -- 1,631 -- Over 10 years 8,993 — 871 -- Total 1,099 157 109,316 +7,545 8,729 -33 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 12, 1978 New Phila- Cleve- Rich- St. Minne Kansas San 1 Total Boston York delphia land J * mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 11,695 660 3,330 598 921 974 518 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 259 13 20 10 39 22 21 21 20 8 44 13 28 Loans 1,099 26 63 152 24 86 161 233 34 49 63 179 29 Acceptances: Sought outright -- — -- -- -- -- -- -- -- -- -- — -- Held under repurchase agreements 157 -- 157 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations— Bought outright 8,168 380 1,987 409 680 669 369 1,303 333 196 335 424 1,083 Held under repurchase agreements 1/ 561 -- 561 -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 43,975 2,046 10,698 2,202 3,660 3,600 1,989 7,014 1,796 1,055 1,802 2,283 5,830 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/ 107,754 5,014 26,213 5,397 8,968 8,823 4,874 17,185 4,400 2,586 4,415 5,594 14,285 Held under repurchase agreements 111/// ... 1,562 -- 1,562 -- -- -- -- -- -- — -- -- -- Total U.S. Government securities 109,316 5,014 27,775 5,397 8,968 8,823 4^,874 17,185 4,400 2,586 4,415 5,594 14,285 Total loans and securities 119,301 5,420 30,543 5,958 9,672 9,578 5,404 18,721 4,767 2,831 4,813 6,197 15,397 Cash items in process of collection 15,942 402 2,135 302 735 3,405 1,643 2,194 620 705 1,227 885 1,689 Bank premises 387 106 10 55 23 81 16 16 13 29 19 10 9 Other assets JV 2,233 105 543 117 159 169 150 292 103 52 98 119 326 Ititerdistrict settlement account -0- + 256 + 457 - 14 4- 301 - 356 - 679 - 417 + 2 - 79 + 28 - 62 + 563 TOTAL 151,067 7,024 37,351 7,100 11,957 13,986 7,137 22,788 6,044 3,802 6,698 7,719 19,461 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 $1,281 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $215 million securities loaned-'-fully secured by U.S. Government securities. 3_/ Includes assets denominated in foreign currencies. * Estimated (Richmond District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.A.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 12, 1978 New Phila Cleve Rich St. Mi nne- Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco : fin millions o f dollars) ii L I A B I L I T I ES !- c d c L a 1 Rc ser ve notes 96,963 5,093 24,594 5,067 8,156 8,814 3,660 16,082 4,139 1,906 3,914 4,395 11,143 DtiDosits: Member bank reserves 29,114' 870 7,783 993 1,642 1,374 1,765 3,786 830 741 1,353 1,716 6,261 U.S. Treasury—general account 10,562 | 641 2,525 656 1,457 537 397 1,471 533 549 343 824 629 Foreign 226 1 8 1/ 22 12 23 15 21 42 8 8 12 16 'V) Other 2/ 710 -- 590 17 1 12 57 4 2 1 2 10 14 Total deposits 40,612 1,519 10,920 1,678 3,123 1,938 2,240 5,303 1,373 1,299 1,710 2,566 6,943 Deferred availability cash items 9,557 273 828 188 365 2,983 988 824 401 492 921 549 745 Other Liabilities and accured dividends 1,576 63 391 67 112 124 80 218 55 35 53 76 302 TOTAL LIABILITIES 148,708 6,948 36,733 7,000 11,756 13,859 6,968 22,427 5,968 3,732 6,598 7,586 19,133 CAPITAL ACCOUNTS Capital said in 1,057. ; 32 276 44 90 56 79 161 33 32 46 60 148 Sir.-pLus 1,029 I 32 267 44 87 55 78 157 32 31 43 58 145 0ther capital aceoiints 273 1 12 75 12 24 16 12 43 11 7 11 15 35 TOTAL LIABILITIES AND CAPTTAL ACCOUNTS 151,067 ; 7,024 37,351 7,100 11,957 13,986 7,137 22,788 6,044 3,802 6,698 7,719 19,461 FEDERAL RESERVE AGENTS' ACCOUNTS '•'.R. .totes outstanding 106,306 5,734 26,015 5,610 8,528 9,291 4,624 17,177 4,588 2,309 4,506 5,231 12,693 Collateral for F.R. notes: Gold certificate account 11,695 660 3,330 598 921 974 518 1,763 466 231 425 509 1,300 Si-tciai Drawing Rights certif. acct. 1,250 62 313 74 107 113 64 198 53 25 44 48 149 Lligible paper 1,073 26 63 152 24 86 154 230 34 46 55 174 29 U.S. Governner.t securities 92,288 986 22,309 4,786 7,476 8,118 3,888 14,986 4,035 2.007 3,982 4,500 11,215 Total collateral 106,306 5,734 26,015 5,610 8,528 9,291 4,624 17,177 4,588 2,309 4,506 5,231 12,693 1/ After deducting S204 million participations of other Federal Reserv eBanks. l_i Includes $19 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. * Estimated (Richmond District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis