H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and '.f^ifa*: Condition Statement of F.R. Banks H.4.1 foe immediate release August 3, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, August 2, July 26, August 3, August 2, and related items 1978* I 1978 1977 1978* Reserve Bank credit: (In millions of dollars) U.S* Government securities-- Bought outright—System account 1/ 108,016 + 599 4-11,470 - 2/ 1 08,135 Held under repurchase agreements 591 -1,038 - 1,163 1,786 Federal Agency obligations-- Bought outright 8,162 2 + 742 8,158 Held under repurchase agreements 160 - 421 29 532 Acceptances-- Bought outright 18 Held under repurchase agreements 154 - 290 134 478 Loans-- Total member bank borrowing 1,439 21 + 841 2,288 Includes seasonal borrowing of: 166 + 14 + 97 169 Other borrowing Float 4,972 + 163 + 1,359 6,178 Other F.R. assets 2,874 + 17 - 486 3,011 Total Reserve Bank credit 126 ,368 993 +12,582 130,566 Gold Stock 11 693 + 98 11,692 Special Drawing Rights certif. acct. 1 250 + 50 1,250 Treasury currency outstanding 11 628 + 479 11,630 150,939 - 989 +13,209 155,138 Currency in circulation ** 106,679 44 + 9,334 107,000 Treasury cash holdings ** 370 53 370 Treasury deposits with F.R. Banks 10,606 613 + 2,107 11,573 Foreign deposits with F.R. Banks 258 21 135 243 Other deposits with F.R. Banks 3/ 701 2 + 14 726 Other F.R. liabilities and capital 4,177 7 + 681 3,805 122,791 - 670 +11,948 123,717 Member bank reserves: With Federal Reserve Banks 28,148 - 320 + 1,261 31,421 Currency and coin 9,863 + 302 + 931 9,863 Total reserves held kj 38,076 19 + 2,157 41,349 Required reserves 37,719 - 373 + 2,224 37,719 Excess reserves 4/ 357 + 354 67 3,630 NOTE: A net of $21 million of surplus reserves were eligible to be carried forward from the week ended July 26, into the week ending August 2. On August 2, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $86,682 million, a decrease of $276 million for the week. 1/ Net of $1,720 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,720 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. Government securities. 2/ Net of $1,600 million matched sale-purchase transactions outstanding at the end of the latest statement week of which $1,600 million was with foreign f official and international accounts. Includes $154 million securities loaned—fully secured by U.S. Government securities. 3/ Includes $17 million of ceiLain deposits oi loreigii-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. Adjusted to include $65 million waivers of penalties for reserve deficiencies * in accordance with Board policy effective November 19, 1975. ** Estimated (Richmond and Chicago Districts). 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 (lr. millions of dollars) Wednesday Change since August 2, Ju ly 26, August 3, A S S E TS 1978** 1978 1977 Gold certificate account 11,692 - 1 + 97 Special Drawing Rights certif. acct. 1,250 ... + 50 Coin 270 + 7 30 IJO ?.ns 2,288 + 963 + 1,683 Acceptances--Bought outright -- -- 17 Held under repurchase agreements 478 + 359 + 478 Federal Agency obligations--Bought outright 8,158 - 6 + 747 Held under repurchase agreements 1/ 532 + 300 + 532 U.S. Government securities: Bought outright--Bills 44,356 +4,854 + 4,850 Certificates Notes 52,997 -- + 3,909 Bonds 10,782 + 2,534 Total bought outright 2/ 108,135 +4,854 +11,293 Held under repurchase agreements \J 1,786 +1,247 + 1,786 Total U.S. Government securities 109,921 +6,101 +13,079 Total loans and securities 121,377 +7,717 +16,502 Cash items in process of collection (1,867) 12,173 +1,226 + 1,309 Bank premises 388 1 + 13 Other assets \J 2,623 + 86 735 TOTAL ASSETS (1,867) 149,773 +9,034 +17,206 L I A B I L I T I ES Federal Reserve notes 96,010 + 126 + 8,629 Deposits: Member bank-reserves account 31,421 +7,686 + 3,762 U.S. Treasury—general account 11,573 +1,609 + 4,378 Foreign 243 10 58 Other V 726 + 79 + 1 Total deposits 43,963 +9,364 + 8,083 Deferred availability cash items (1,867) 5,995 50 148 Other liabilities and accrued dividends 1,498 - 41 + 407 TOTAL LIABILITIES (1,867) 147,466 +9,399 +16,971 C A P I T AL A C C O U N TS Capital paid in 1,057 + 51 Surplus 1,029 + 46 Other capital accounts 221 365 + 138 * Figures in parentheses are the eliminations made in the consolidating process. Estimated (Richmond and Chicago Districts). •k-k Does not include U.S. Government and Federal Agency securities resold under 1/ 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 $L,600 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $154 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. August. 2, 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 2,053 478 7,814 +3,852 536 +264 16 days to 90 days 235 18,964 +2,247 299 - 4 91 days to 1 year 31,276 - 238 1,528 + 34 Over 1 year to 5 years 31,025 + 240 3,825 -- Over 5 years to 10 years 11,849 -- 1,631 -- Over 10 years 8,993 -- 871 -- Total 2,288 478 109,921 +6,101 8,690 +294 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 AUGUST 2, 1978 New Phila- Cleve- Rich- St. Minne- Kansas San Total Boston York delphia land 1 * mond Atlanta *Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 11,692 660 3,327 598 921 974 518 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 270 14 19 10 39 24 24 23 19 9 45 13 31 Loans 2,288 68 941 22 57 143 197 144 52 79 73 84 428 Acceptances: Bought outright — -- -- — -- -- -- — -- -- — — -- Held under repurchase agreements 478 -- 478 -- -- -- -- -- -- -- -- -- -- • Federal Agency obligations— Bought outright 8,158 380 1,985 408 679 668 369 1,301 333 196 334 423 1,082 Held under repurchase agreements J7 532 -- 532 -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 44,356 2,064 10,790 2,221 3,692 3,632 2,006 7,074 1,811 1,064 1,818 2,303 5,881 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/ 108,135 5,032 26,305 5,416 9,000 8,855 4,891 17,245 4,415 2,595 4,431 5,614 14,336 Held under repurchase agreements \_l 1,786 -- 1,786 -- ... -- -._ -- -- -- — -- -- Total U.S. Government securities 109,921 5,032 28,091 5,416 9,000 8,855 4,891 17,245 4,415 2,595 4,431 5,614 14,336 Total loans and securities 121,377 5,480 32,027 5,846 9,736 9,666 5,457 18,690 4,800 2,870 4,838 6,121 15,846 Cash items in process of collection 14,040 393 1,872 374 686 2,073 1,646 1,545 538 781 1,245 942 1,945 Bank premises 388 106 10 55 23 81 17 16 13 29 19 10 9 Other assets 3_/ 2,623 113 590 115 185 193 253 442 95 70 102 136 329 Interdistrict settlement account -0- + 9 + 438 - 320 - 482 - 383 - 384 - 697 + 78 - 226 + 420 - 217 + 1,764 TOTAL 151,640 6,837 38,596 6,752 11,215 12,741 7,595 21,980 6,062 3,789 7,138 7,562 21,373 \_/ 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 $1,600 million matched sale-purchase transactions outstanding at the end of the Latest statement: week. Includes $154 million securities loaned--fully secured by U.S. Government securities. 3_/ Includes assets denominated in foreign currencies. * Estimated (Richmond and Chicago Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 2, 1978 H.4.1(c) Phila * St. Minne Kansas ! San Total Boston New York delphia Cleveland Richmond * Atlanta Chicago Louis apolis City Dallas [Francisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 96,010 5,000 24,578 4,949 8,053 8,652 3,508 15,946 4,126 1,849 3,957 4,432 10,060 Deposits: Member bank reserves 31,421 899 7,660 955 1,655 1,420 1,893 4,071 881 743 1,205 1,857 B,18? U.S. Treasury—general account 11,573 509 3,969 471 765 791 902 795 538 587 b96 482 868 Foreign 243 8 1/ 39 12 23 15 21 42 8 8 12 16 39 Other 2/ 726 1 598 2 2 18 58 7 9 3 2 13 13 Total deposits 43,963 1,417 12,266 1,440 2,445 2,244 2,874 4,915 1,436 1,341 2,115 2,368 -,L02 Deferred availability cash items 7,862 288 796 205 419 1,551 974 472 377 499 920 566 795 Other liabilities and accrued dividends 1,498 65 393 68 114 130 78 215 55 35 56 74 215 TOTAL LIABILITIES 149,333 6,770 38,033 6,662 11,031 12,577 7,434 21,548 5,994 3,724 7,048 7,440 21 ,072 CAPITAL ACCOUNTS Capital paid in 1,057 33 276 44 90 56 79 161 33 32 45 60 148 Surplus 1,029 ] 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 221 2 20 2 7 53 4 114 3 2 2 4 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 151,640 6,837 38,596 6,752 11,215 12,741 7,595 21,980 6,062 3,789 7,138 7,562 21,37 " FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 107,689 5,762 26,063 5,745 8,603 9,419 4,800 17,214 4,646 2,330 4,705 5,352 13,050 Collateral for F.R. notes: Gold certificate account 11,692 660 3,327 598 921 974 518 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 1,998 68 865 22 57 138 170 131 52 69 61 76 289 U.S. Government securities 92,749 4,972 21,558 5,051 7,518 8,194 4,048 15,122 4,075 2,005 4,175 4,719 11,312 Total collateral 107,689 5,762 26,063 5,745 8,603 9,419 4,800 17,214 4,646 2,330 4,705 5,352 13,050 1/ After deducting $204 million participations of other Federal Reserve Banks. 2/ 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 (Richmond and Chicago Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis