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 20, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, July 19, July 12, July 20, July 19, and related items 1978* 1.978 1977 1978* Reserve Bank credit: (In millions of dollars) U.S. Government securities-- 2/ Bought outright--System account -''l08,162 +1,452 +11,654 108,017 Held under repurchase agreements 1,933 +1,710 + 1,572 3,598 Federal Agency obligations-- Bought outright 8,168 + 745 8,168 Held under repurchase agreements 745 + 665 + 677 1,306 Acceptances— Bought outright 29 Held under repurchase agreements 291 + 269 264 66» Loans-- Total member bank borrowing 1,589 + 685 + 1,183 5,274 Includes seasonal borrowing of: 134 + 4 + 73 144 Other borrowing Float 5,307 - J, 770 432 5,756 Other F.R. assets 2,672 + 53 740 2,799 Total Reserve Bank credit 128,867 +3 ,063 +15,758 135,58-5 Gold Stock 11,693 - 11 + B'6 11,693 Special Drawing Rights cert if. «icct. 1,250 ... + 50 1,250 Treasury currency outstanding 11^613 6 + 462 11,622 153,423 +T, 058 +16,356 160,151 _ Currency in circulation «*••• 107,320 2°8 .722 10 7,308 Treasury cash holdings •'••- 366 f 2 61 370 Treasury deposits with F.R. Banks 10,464 - 47 + 3 ,681 10,201 Foreign deposits with F.R, Banks 256 - 43 74 263 Other deposits with F.R. Eanks 3/ 662 - 6.5 363 645 Other F.R. liabilities and capital 4,004 + 226 676 4,167 123,079 - 22.4 +13,583 122,954 Member bank reserves: With Federal Reserve Banks 30,344 +3 282 + 2,775 37,198 Currency and coin 9,084 676 ±JJL?35 Total reserves held 4/ "39,494 +2~~ 605 + 3,975 467348 Required reserves 39,145 +2 •i95 + :,83P 39,145 Excess reserves 4/ 34 9 + 510 + 137 7,203 NOTE: A net of $51 million of deficit reserves were eligible to be carried forward from the week ended July 12, into the week ending July 19. On July 19, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official, and international accounts were $86,804 million, a decrease of $190 million tor the wtiek. _1/ Net of $1,269 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, ol which $1,269 million was with foreign official and international accounts. Includes securities loaned--fully secured by r.S. Government, securities. 2/ Net of $1,551 million matched sale-purchase transact ions. outstanding at. the ead of tho latest statement week or which $ • .551 mi II: jr. was WLth foreign, official and international accounts. Includes ?89 million securities loanedfully secured by U.S. Government securities. 3/ Includes $19 million of certain deposits of foreign-owned banking institutions voiuiit-iri ly held with member banks and redeposi tvd in : federal Restir-.'e Banks. Adjusted LO include ,s>66 million waivers jf penalties forr csci" 2ficiencieJ in accordance with Bo-ird policy effective November 19, L975. Estimated (Philadelphia and Richmond Di str ic-rs^ „ r;sti::=ated (Treasure's figurey). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Or CONL'3 Vi"CN Of ALL H-Di'.-'.,; .i mi 11 ion& of dio\ iar s') Wecne. Chanp.c slnjc^ Juiv 19, I .! uly 12, T ~" uly 20, A S :i K T S 1978** 1 I 1978 1 1977 • Joi.d certificate account 11,693 - 2 + •38 Special. Drawing Ri^his cert if. acct. 1,230 -- + 30 Coin 263 + 4 - 89 L'rins S , Z/-T +4,175 + 5,054 Ac ce p tance s - -Bough L ou t r i gh t -" -- - 25 Held under repurchase agreements 663 + 511 + 482 Federal Agency obligations--Bought outright 8, 168 -- + 745 Held under repurchase agreements 1/ L, 306 + 745 + 833 U.S. Government securities: Bought outright—Bills 44,238 + 263 + .5,683 Certificates -- __ -- Notes 52,997 -- + 3,909 Bond s 10,782 -- + 2,534 Total bought outright 2/ 108,017 + 263 +12,126 Held under repurchase agreements \j 3,598 +2,036 + 1,071 Total U.S. Government securities 111 ,615 ++22 ,,229999 ++ 11ii ,197 Total loans and securities 127 ,031 ++77 ,,773300 ++22((TT ,2 86 Cash items in process of collection (2,118) 12 ,008 - 773 + 972 Bank premises 390 + 3 + 18 Other assets 3_/ _L ^409 + 168 - J_, L 459 TOTAL ASSETS (2,118) 155,044 +7,130 +19,866 L I A B T . L I T I . ES Federal Reserve notes 96,318 - 596 + 9,127 Deposits: Member bank-reserves account 37,198 +8,084 + 8,227 U.S. Treasury—general account 10,201. - 361 4 2,981 Foreign 263 + 37 + 16 Other y 645 - 65 - 1,222 Total deposits 48 ,307 +7,695 +10,002 Deferred availability cash items (2,113) 6 ,2.52 - 206 47 Other liabilities and accrued dividends I ,6^1 + 83 +_ 616 TOTAL LI ABILITIES (2,118) 152,528 +6,976 +19,698 C AM T A L A C C O U N T S, Capital paid in 1,058 + 54 Surplus 1,029 46 Other car.it al accounts 4 29 + 153 68 Figures in parentheses are the eliminations made in the consolidating process. •L S t 1 Ilia C v.: d (Philadelphia and Richmond Districts). 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 $1,551 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $89 million securities loaned-fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. 4/ Includes $ L9 '.nillion of certain deposits of foreign-owned 'ranking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. MATURITY DISTRIBUTION' OF LOANS AND SEClttl'fIES . July 19, 1.978 (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 5,242 668 7,7^9 +2 ,222 1,37 3 + 784 16 days to 90 days 32 2! ,702 + 1 ,092 230 - 39 91 days to 1. year .30.5 37 -1 ,015 1,483 -- Over 1 year to 5 yeais 30,785 -.. 3,886 .... Over 5 years to 10 years 11,849 -- 1 ,63.i -- Over 10 yearn 8,993 -- 887711 -- Total 5,274 668 111,615 +2 ,299 99>>7744 +745 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 19, 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 11,693 660 3,328 598 921 974 518 1,763 466 231 425 509 1,300 Special Drawing Rights certlf. acct. 1,250 62 313 74 107 113 64 198 53 25 44 48 149 Coin 263 14 18 9 39 22 22 21 20 8 45 13 32 Loans 5,274 202 2,651 193 21 220 207 766 202 61 190 246 315 Acceptances: Bought outright -- -- -- -- -- -- -- — -- -- -- -- -- Held under repurchase agreements 668 -- 668 — -- -- — -- -- -- -- -- -- 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/ 1,306 -- 1,306 -- — -_ -- -- -- -- -- -- -- U.S. Government securities: Bought outright— Bills 44,238 2,059 10,762 2,215 3,682 3,622 2,001 7,056 1,807 1,061 1,812 2,296 5,865 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/ 108,017 5,027 26,277 5,410 8,990 8,845 4,886 17,227 4,411 2,592 4,425 5,607 14,320 Held under repurchase agreements 1/ 3,598 -- 3,598 — -- -- -- — — -- -- — — Total U.S. Government securities 111,615 5,027" 29,875 5,410 8,990 8,845 4,886 17,227 4,411 2,592 4,425 5,607 14,320 Total loans and securities 127,031 5,609 36,487 6,012 9,691 9,734 5,462 19,296 4,946 2,849 4,950 6,277 15,718 Cash items in process of collection 14,126 421 1,850 389 748 1,841 1,568 1,866 668 812 1,152 833 1,978 Bank premises 390 106 10 56 23 81 18 16 13 29 19 10 9 Other assets 3/ 2,409 1 107 610 110 223 175 134 308 87 68 90 124 373 Interdistrict settlement account -0- + 173 -3,179 - 204 + 415 - 108 - 263 •f 746 + 86 - 119 + 62 + 628 + 1,763 TOTAL 157,162 7,152 39,437 7,044 12,167 12,832 7,523 24,214 6,339 3,903 6,787 8,442 21,322 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 $1,551 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $89 million securities loaned--fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. 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 19, 1978 New Phila tCleve- Rich i St. Minne Kansas San Total Boston York delphia ' land mond Atlanta Chicago ' Louis apolis City Dallas Francisco ** ** (In milLions of dollars) L I A B I L I T I ES Federal Reserve notes 96,318 5,071 24,552 4,999 8,114 8,695 3,476 16,082 4,130 1,878 3,892 4,375 11,054 Deposits: Member bank reserves 1 37,198 1,055 9,954 964 2,231 1,602 2,204 5,179 1,037 764 1,466 2,485 8,257 U.S. Treasury--general account 10,201 560 2,309 632 1,061 791 507 1,485 586 534 377 792 567 Foreign 263 8 1/ 58 12 23 15 21 42 9 8 12 16 39 Other 2/ 645 1 527 24 1 12 52 6 * 2 1 8 11 Total deposits 48,307 1,624 12,848 1,632 3,316 2,420 2,784 6,712 1,632 1,308 1,856 3,301 8,874 Deferred availability cash items 8,369 311 897 236 410 1,421 978 826 440 608 881 552 809 Other liabilities and accrued dividends 1,652 63 482 69 113 155 109 209 55 35 53 73 236 TOTAL LIABILITIES 154,646 7,069 38,779 6,936 11,953 12,691 7,347 23,829 6,257 3,829 6,682 8,301 20,973 CAPITAL ACCOUNTS Capital paid in 1,058 33 276 44 90 56 79 161 33 32 46 60 148 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 429,, 18 115 20 37 30 19 67 17 11 16 23 56 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 157,162 7,152 39,437 7,044 12,167 12,832 7,523 24,214 6,339 3,903 6,787 8,442 . 21,322 FEDERAL RESERVE AGENTS1 ACCOUNTS F.R. notes outstanding 106,845 5,742 26,015 5,671 8,600 9,345 4,619 17,202 4,606 2,328 4,586 5,232 12,899 Collateral for F.R. notes: Gold certificate account 11,693 660 3,328 598 921 974 518 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 3,249 198 995 193 21 219 177 556 149 56 175 231 279 U.S. Government securities 90,653 4,822 21,379 4,805 7,551 8,039 3,860 14,685 3,938 2,016 3,942 4.444 11,172 Total collateral 106,845 5,742 26,015 5,670 8,600 9,345 4,619 17,202 4,606 2,328 4,586 5,232 12,900 1/ After deducting $205 million participations of other Federal Reserve Banks 2/ Includes $19 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 (Philadelphia and Richmond Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis