H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of RR. Banks H.4.1 For immediate release July 27, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, July 26, July 19, 1 ^ly 27, July 26, and related items 1978* 1978 1 1977 1978* Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright--System account 1/ 107,417 - 745 +11,078 - 2/ 1 03,281 Held under repurchase agreements 1,629 - 304 + 630 539 Federal Agency obligations-- Bought outright 8,164 4 + 741 8,164 Held under repurchase agreements 581 - 164 + 414 ! 232 Acceptances-- Bought outright — 23 __ Held under repurchase agreements 444 + 153 + 260 119 Loans-- Total member bank borrowing 1,460 - 129 + 1,165 1,325 Includes seasonal borrowing of: 152 + 18 + 84 154 Other borrowing Float 4,803 - 539 + 1,214 4,885 Other F.R. assets 2,857 + 185 344 2,926 Total Reserve Bank credit 127,355 -1,546 +15,135 121,471 Gold Stock 11,693 — + 88 11,693 Special Drawing Rights certif. acct. 1,250 -- + 50 1,250 Treasury currency outstanding 11,624 + 11 + 471 11,626 151,922 -1,536 +15,744 146,040 Currency in circulation ** 106,722 - 599 + 9,556 106,868 Treasury cash holdings 370 + 4 53 370 Treasury deposits with F.R. Banks 11,219 + 755 + 3,219 9,964 Foreign deposits with F.R. Banks 279 + 23 + 23 253 Other deposits with F.R. Banks 3/ 699 + 37 + 61 647 Other F.R. liabilities and capital 4,169 + 167 + 738 4,203 123,458 + 386 +13,544 122,305 Member bank reserves: With Federal Reserve Banks 28,465 -1,921 + 2,200 23,735 Currency and coin 9,561 + 477 + 732 9,561 Total reserves held 4/ 38,092 -1,444 + 2,897 33,362 Required reserves 38,092 -1,053 + 2,971 38,092 Excess reserves 4/ -- - 391 74 - 4,730 NOTE: A net of S79 million of surplus reserves were eligible to be carried forward from the week ended July 19, into the week ending July 26 On July 26, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $86,958 million, an increase of $154 million for the week. 1/ Net of $2,297 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,371 million was with foreign official and international accounts. Includes securities loaned--fully secured-by U.S. Government securities. 2/ Net of $6,455 million matched sale-purchase transactions, outstanding at the end of the latest statement week of which $1,330 million was with foreign official and international accounts. Includes $146 million securities loaned--fully 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. ft/ Adjusted to include $66 million waivers of penalties for reserve deficiencies * in accordance with Board policy effective November 19, 1975. Estimated (Richmond District). Estimated (Treasuryfs figures). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(^ CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since July 26, July 19, July 27, A S S E TS 1978** 1978 1977 Gold certificate account 11,693 -- + 88 Special Drawing Rights certrt. acct. 1,250 -- + 50 Coin 263 -- - 46 Loans 1,325 - 3,949 + 811 Acceptances--Bought outright -- -- - 19 Held under repurchase agreements 119 - 549 - 130 Federal Agency obligations--Bought outright 8,164 4 + 741 Held under repurchase agreements \J 232 - 1,074 + 27 U.S. Government securities: Bought outright--Bills 39,502 - 4,736 Certificates Notes 52,997 -- +3,909 Bonds 1100,,778822 +2,534 Total bought outright 2/ 110033,,228811 - 4,736 +6,447 Held under repurchase agreements J7 539 - 3,059 -1,024 Total U.S. Government securities 103,820 - 7,795 +5,423 Total loans and securities 113,660 -13,371 +6,853 Cash items in process of collection (2,220) 11,128 - 1,226 +1,611 Bank premises 389 1 + 16 Other assets 3/ 2,537 + 128 - 322 TOTAL ASSETS (2,220) 140,920 -14,470 +8,250 L I A B I L I T I ES Federal Reserve notes 95,875 - 408 +8,890 Deposits: Member bank-reserves account 23,735 -13,463 -3,166 U.S. Treasury--general account 9,964 237 +1,348 Foreign 253 10 - 36 Other jty 647 + 2 52 Total deposits 34,599 -13,708 -1,906 Deferred availability cash items (2,220) 6,243 - 407 + 558 Other liabilities and accrued dividends 1,531 - 103 + 500 TOTAL LIABILITIES (2,220) 138,248 -14,626 +8,042 C A P I T AL A C C O U N TS Capital paid in 1,057 1 + 51 Surplus 1,029 -- + 46 Other capital accounts 586 + 157 + 111 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (Richmond 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 $-0- million was outstanding at the end of the latest statement week. 2/ Net of $6,455 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $146 million securities loaned-fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. 4/ Tncludos $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 26, 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 1 changes changes Within 15 days 1,262 119 3,962 -3,787 272 -1,101 16 days to 90 days 63 16,717 -4,985 303 + 73 91 days to 1 year 31,514 + 977 1,494 + 11 Over 1 year to 5 years 30,785 -- 3,825 61 Over 5 years to 10 years 11,849 — 1,631 — Over 10 years 8,993 -- 871 — Total 1,325 119 103,820 -7,795 8,396 -1,078 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 26, 1978 New Phila- Cleve T Rich- St. Minne Kansas San Total Boston York delDhia land * mond Atlanta Chicago Louis apolis Citv Dallas Francisco (In millions of dollars) A S S E SS 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 23 22 21 20 8 45 13 31 Loans 1,325 1J 107 31 13 216 338 181 46 62 85 214 16 Acceptances: Bought outright Held under repurchase agreements 119 119 Federal Agency obligations-- Bought outright 8,164 380 1,986 409 679 669 369 1,302 333 196 335 4 24 1,032 Held under repurchase agreements 1/ 232 232 U.S. Government securities: Bought outri glit — Bills 39,502 1,838 9,609 1,978 3 ,288 3,234 1,787 6,300 1,613 948 1,619 2,051 5,237 Certificates Notes 52,997 2,466 12,892 2,655 4 .411 4,340 2,397 8,452 2,lb4 1 >272 2,171 2,751 7,026 Bonds 1C.782 502 2,623 540 897 883 488 1,719 440 259 442 560 1,429 4/ Total bought outright 2/ 103,281 4,806 25,124 5,173 8 ,596 8,457 4,672 16,471 4,217 2 ,479 4,232 5,362 13,692 Held under repurchase agreements 1111//// 539 539 TToottaall UU..SS.. GGoovveerrnnmmeenntt sseeccuurriittiieess 103,820 4,806 25,663 5,173 8 ,596 8,457 4,672 16,471 4,217 2 ,479 4,232 5,362 13,692 TToottaall lleeaannss aanndd sseeccuurriittiieess 113,660 5,202 28,107 5,613 9 ,288 9,342 5,379 17,954 4,596 2 ,737 4,652 6,000 14,790 Cash items in process of collection 13,348 320 1,666 363 598 2,264 1,381 1,740 551 779 1,119 1,014 1,553 Bank premises 389 106 10 56 23 81 17 16 13 29 19 10 Q Other assets .3/ 2,537 115 578 182 179 197 137 337 99 100 138 111 364 Interdistrict settlement account -0- + 274 +2,123 + 69 361 - 219 - 345 - 564 + 258 145 + 367 - 20 -1,437 TOTAL 143,140 6,753 36,143 6,964 10, 794 12,775 7,173 21,465 6,056 3 ,764 6,809 7,685 16,759 l_/ 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 -\t the end of the latest statement week. 2/ Nei of $6,4^5 million matched sale-purchase transactions outstanding at the end o£ the latest statement week. Includes $146 million securities loaned--iully secured by U.S. Government securities. _3/ Includes assets denominated in foreign currencies. 4/ Includes securities loaned to other Reserve Banks. * Estimated (Richmond District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STA'i' EMCNT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 26, 1978 H.4.1(c) ' Phila St. Minne Kansas San Total Boston New York delphia Cleveland Richmond^ Atlanta Chicago Louis apolis City Dallas Francif co (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 95,875 5,004 24,464 4,943 8,026 8,641 3,542 15,935 4,123 1,846 3,949 4 f 41h 10,986 Deposits: 23,735 748 5,415 999 1,461 1,325 1,814 3,525 835 737 1,306 1,716 3,854 Member bank reserves U.S. Treasury--general account 9,964 575 3,833 550 531 473 584 590 584 483 515 677 569 Foreij»£! 253 9 1/ 48 12 23 15 21 42 8 8 17 16 39 Other 2/ 1 64 7 539 1 12 61 2 1 9 9 11 Total deposits 34,599 1,332 9.835 l,i>61 2,016 1,825 2,480 4.166 1,429 1,229 1 ,835 2,418 4.473 Deferred avaiJability cash items 8,463 263 801 275 359 2,023 899 739 361 576 86!. fi?9 677 Other liabilities and accrued dividends 1,531 65 334433 70 166 133 /0 215 54 36 54 72 253 TOTAL LIABILITIES 1.40,468 6,664 ""3355,,444433 6,849 10,567 12,622 6,991 21,055 5,967 3,687 6 T 69° 7,535 16,38^ CAPITAL ACCOUNTS Capital paid in 1,057 33 276 44 9'J 56 79 161 33 32 45 60 ;48 Surplus 1,029 32 267 44 87 55 78 157 32 31 4.3 58 145 Other capital accounts 586 j 24 157 27 50 42 25 92 24 14 2222 ____JJ22__ __ 77 TOTAL LIABILITIES AND CAPITAL ACCOUNTS K3,U0 6,753 36,143 6,964 10,794 12,775 7,173 21,465 6,C36 3,76'; 66,,880099 ??,,ttii8855 16,75- FEDERAL RESERVT AGENTS' ACCOUNTS F.R. notes outstanding 107,462 5 5 723 26,006 5,695 8,596 9,366 4,841 17,166 4,654 2,314 4,674 5,370 1.3,057 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. aacccctt.. 1,250 62 313 74 107 113 64 198 53 2S 44 48 149 Eligible paper 1,249 3/ 16 106 31 13 211 319 169 46 54 76 198 10 U.S. Government securities 93,270 -'4,985 22,259 4,992 7,555 8.068 3,940 15,036 4,089 2,004 4,129 4,615 11,598 Total collateral 107,462 5,723 26,006 5,695 8,59b 9,366 4,841 17,166 4,654 2,314 4.674 5,370 13,057 \J After deducting $205 million part Lcipfltions of other Federal Reserve Banks. 2/ Includes $19 million ot certain deposit1* nf foreign-owned banking institutions voluntarilv held with member banks and redeposited in f !u.\ with rederal Reserve Banks. 3/ Includes securities borrowed from other Reserve Banks. * Less than $500,000. ** Estimated (Richmond District), Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis