H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.••b^ovA/ FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release August 10, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Aug. 9, Aug. 2, 1 Aug. 10, August 9,* and related items 1978* 1978 1977 1978 Reserve Bank credit: 1/ (In millions of dollars) y U.S. Government securities— Bought outright—System account 106,664 -1,352 +11,487 104,793 Held under repurchase agreements 103 - 488 + 103 721 Federal Agency obligations— Bought outright 8,084 - 78 + 673 7,985 Held under repurchase agreements 11 - 149 + 11 78 Acceptances- Bought outright „«. -. 13 _- Held under repurchase agreements 1 - 153 4- 1 10 Loans— Total member bank borrowing 879 - 560 + 294 851 Includes seasonal borrowing of: 175 + 9 + 103 170 Other borrowing Float 4,893 - 34 + 1,078 5,281 Other F.R. assets 2,867 + 7 - 364 2,905 Total Reserve Bank credit 123,503 -2,806 +13,271 122,624 Gold Stock 11,690 3 + 95 11,683 Special Drawing Rights certif. acct. 1,250 — + 50 1,250 Treasury currency outstanding 11,631 + 3 + 455 11,633 148,074 -2,805 +13,871 147,190 Currency in circulation ** 107,080 + 365 + 9,174 107,642 Treasury cash holdings ** 370 + 35 58 370 Treasury deposits with F.R. Banks 8,725 -1,881 + 2,667 7,701 Foreign deposits with F.R. Banks 331 + 73 + 61 301 Other deposits with F.R. Banks 3/ 619 - 82 + 68 ! 670 Other F.R. liabilities and capital 3,651 - 504 + 455 3,693 120,776 -1,994 +12,368 ! 120,377 Member bank reserves: With Federal Reserve Banks 27,298 - 811 + 1,502 26,814 Currency and coin 9,903 + 40 + 910 9,903 Total reserves held kj 37,265 - 772 + 2,375 36,781 Required reserves 37,175 - 544 + 2,388 i 37,175 Excess reserves 4/ 90 - 288 13 - 394 NOTE: A net of $176 million of surplus reserves were eligible to be carried forward from the week ended August 2, into the week ending August 9. On August 9, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $86,657 million, a decrease of $25 million for the week. 1/ Net of $2,543 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,415 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2/ Net of $4,254 million matched sale-purchase transactions outstanding at the end of the latest statement week,of which $1,160 million was with foreign official and international accounts. Includes $110 million securities loaned—fully 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 $64 million waivers of penalties for reserve ~" deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Cleveland and Richmond 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 (In millions of dollars) Wednesday Change since August 9, August 2, August 10, A S S E TS 1978** 1978 1977 Gold certificate account 11,683 9 + 88 Special Drawing Rights certif. acct. * 1,250 — + 50 Coin 274 + 4 - 25 Loans 851 -1,437 - 6666 Acceptances--Bought outright 99 Held under repurchase agreements 10 - 468 + 1100 Federal Agency obligations--Bought outright 7,985 - 173 + 574 Held under repurchase agreements J7 78 - 454 + 78 U.S. Government securities: ~" Bought outright--Bills 41,014 -3,342 + 6,287 Certificates Notes 52,997 + 3,909 Bonds 10,782 + 2,534 Total bought outright 2/ 104,793 -3,342 +12,730 Held under repurchase agreements \_/ 721 -1,065 + 721 Total U.S. Government securities 105,514 -4,407 +13,451 Total loans and securities 114,438 -6,939 +14,038 Cash items in process of collection (1,845) 11,221 -1,459 + 2,015 Bank premises 389 + 1 + 14 Other assets 2/ 2,516 - 3 - 413 TOTAL ASSETS (1,845) 141,771 -8,405 +15,767 L I A B I L I T I ES Federal Reserve notes 96,652 + 632 + 8,755 Deposits: Member bank-reserves account 26,814 -4,607 + 2,650 U.S. Treasury-general account 7,701 -3,872 + 3,178 Foreign 301 + 58 + 51 Other 4/ 670 - 56 + 110 Total deposits 35,486 -8,477 + 5,989 Defetfred availability cash items (1,845) 5,940 - 603 + 504 Other liabilities and accrued dividends 1,390 - 106 + 398 TOTAL LIABILITIES (1,845) 139,468 -8,554 +15,646 CAPITAL ACCOUNTS Capital paid in 1,056 1 + 48 Surplus 1,029 — + 46 Other capital accounts 218 + 150 + 27 Figures in parentheses are the eliminations made in the consolidating process. Estimated (Cleveland 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 $4,254 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $110 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 9, 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 721 10 6,729 -1,085 82 -454 16 days to 90 days 130 16,175 -2,789 313 + 14 91 days to 1 year 30,743 - 533 1,422 -106 Over 1 year to 5 years 31,025 -.. 3,744 - 81 Over 5 years to 10 years 11,849 -_ 1,631 .._ Over 10 years 8,993 _- 871 ... Total 851 10 105,514 -4,407 8,063 -627 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 Oil AUGUST 9, 1978 New Fhila- 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 11,683 660 3,318 598 921 974 518 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 ! 274 14 21 11 40 23 26 21 19 9 44 12 34 Loans 851 29 26 21 11 124 93 108 115 72 90 157 5 Acceptances: Bought outright — — — -- -- -- -- -- — -- "" -- -- Held under repurchase agreements 10 -- 10 -" "- -- -- -- -- .. -- -- -- Federal Agency obligations— Bought outright 7,985 372 1,942 400 664 654 361 1,273 326 192 327 415 1,059 Held under repurchase agreements 1/ 78 -- 78 -- -- -- .. •- ~" -- -- -~ — U.S. Government securities: Bought outright-- Bills 41,014 1,909 9,977 2,054 3,413 3,358 1,855 6,541 1,675 984 1,681 2,129 5,438 Certificates -- -- -- -- — — — — — — -- — Notes 52,997 2,46•— 6 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 4/ Total bought outright 1/ 104,793 4,877 25,492 5,249 8,721 8,581 4,740 16,712 4,279 2,515 4,294 5,440 13,893 HHeelldd uunnddeerr rreeppuurrcchhaassee aaggrreeeemmeennttss AA// 721 _.- 721 -- -- -- -- -- -- -- -- -- -- TToottaall UU..SS.. GGoovveerrnnmmeenntt sseeccuurriittiieess 105,514 4,877 26,213 5,249 8,721 8,581 4,740 16,712 4,279 2,515 4,294 5,440 13,893 Total loans and securities 111144,,443388 55,,227788 2288,,226699 55,,667700 99,,339966 99,,335599 55,,119944 1188,,009933 44,,772200 22,,777799 44,,771111 66,,001122 14,957 Cash items in process of collection 1133,,006666 441177 11,,227711 337755 882233 22,,002277 11,,884488 11,,553388 662222 558877 996666 884488 1,744 Bank premises 389 106 10 55 23 82 17 16 13 29 19 10 9 Other assets .3/ 2,516 120 610 119 186 192 159 347 104 66 106 134 373 Interdistrict settlement account -0- - 289 +2,653 - 168 - 449 - 464 - 979 + 545 + 49 - 125 + 246 - 189 - 830 143,616 6,368 36,465 6,734 11,047 12,306 6,847 22,521 6,046 3,601 6,561 7,384 17,736 _______ TOTAL 1 HfrT * Estimated (Cleveland 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 $4,254 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $110 million securities loaned--fully secured by U.S. Government securities. V 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

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 9, 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 96,652 5,027 24,708 4,972 8,125 8,694 3,511 16,098 4,157 1,862 3,990 4,467 11,041 Deposits: Member bank reserves 26,814 580 7,116 931 1,549 1,340 1,735 4,402 827 630 1,204 1,688 4,812 U.S. Treasury—general account 7,701 345 2,309 414 451 471 386 743 422 536 528 456 640 Foreign 301 8 1/ 97 12 23 15 21 42 8 8 12 16 39 Other 2/ 670 560 1 1 20 57 4 2 2 2 5 16 Total deposits 35,486 933 10,082 1,358 2,024 1,846 2,199 5,191 1,259 1,176 1,746 2,165 5,507 Deferred availability cash items 7,785 270 736 242 590 1,510 896 677 503 461 675 551 674 Other liabilities and accrued dividends 1,390 64 339 65 113 129 74 203 54 34 53 70 192 TOTAL LIABILITIES 141,313 6,294 35,865 6,637 10,852 12,179 6,680 22,169 5,973 3,533 6,464 7,253 17,414 CAPITAL ACCOUNTS Capital paid in 1,056 32 276 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 218 10 57 9 18 16 10 34 8 5 9 13 29 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 143,616 6,368 36,465 6,734 11,047 12,306 6,847 22,521 6,046 3,601 6,561 7,384 17,736 FEDERAL RESERVE AGENTS1 ACCOUNTS F.R. notes outstanding 107,784 5,768 26,186 5,789 8,592 9,413 4,751 17,261 4,638 2,336 4,693 5,344 13,013 Collateral for F.R. notes: Gold certificate account 11,683 660 3,318 598 921 974 518 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 814 29 26 21 11 119 92 108 115 61 84 143 5 U.S. Government securities 94,037 2/5,017 22,529 5,096 7,553 8,207 4,077 15,192 4,004 2,019 4,140 4,644 11,559 Total collateral 107,784 5,768 26,186 5,789 8,592 9,413 4,751 17,261 4,638 2,336 4,693 5,344 13,013 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. 3_/ Includes securities borrowed form other Reserve Banks. * Estimated (Cleveland and Richmond District's). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis