H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•:o°!J^v. FEDERAL RESERVE Factors Affecting Bank Reserves and •.f$4LRl^ Condition Statement of F.R. Banks H.4.1 For immediate release August 17, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, August 16, August 9, 1 August 17, August 16, and related items 1978* 1978 1 1977 1978* Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 1/ 107,720 +1 ,056 +12,519 2/ 109,512 Held under repurchase agreements — - 103 — — Federal Agency obligations— Bought outright 7,983 . 101 + 572 7,981 Held under repurchase agreements — - 11 — — Acceptances- Bought outright — — 8 -_ Held under repurchase agreements — - 1 — -- Loans- Total member bank borrowing 964 + 85 + 63 1,089 Includes seasonal borrowing of: 184 + 9 + 85 172 Other borrowing Float 5,225 + 375 + 1,480 7,265 Other F.R. assets 2,577 - 290 319 1,817 Total Reserve Bank credit 124,470 +1 ,010 +14,309 127,664 Gold Stock 11,680 - 10 + 85 11,680 Special Drawing Rights certif. acct. 1,271 + 21 + 71 1,300 Treasury currency outstanding 11,640 + 9 + 449 11,651 149,061 +1 ,030 +14,914 152,295 Currency in circulation ** 107,505 + 425 + 9,425 107,923 Treasury cash holdings ** 370 — 58 370 Treasury deposits with F.R. Banks 8,419 - 306 + 3,452 10,435 Foreign deposits with F.R. Banks 262 - 69 22 272 Other deposits with F.R. Banks 3/ 588 - 31 19 622 Other F.R. liabilities and capital 3,805 + 155 + 534 3,855 120,948 + 172 +13,310 123,477 Member bank reserves: With Federal Reserve Banks 28,113 + 858 + 1,603 28,818 Currency and coin 9,800 - 103 + 1,011 9,800 Total reserves held 4/ 37,982 + 760 + 2,581 1 38,687 Required reserves 37,611 + 436 + 2,412 l 37,611 Excess reserves 4/ 371 + 324 + 169 1,076 NOTE: A net of $34 million of surplus reserves were eligible to be carried forward from the week ended August 9, into the week ending August 16. On August 16, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $87,724 million, an increase of $1,067 million for the week. 1/ Net of $1,459 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $771 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2/ Includes $153 million securities loaned—fully secured by U.S. Government securities. 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. Adjusted to include $69 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Atlanta District). Estimated (Treasuryfs 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 Aug. 16, Aug . 9, Aug. 17, - A S S E TS 1978** 1978 1977 Gold certificate account 11,680 - 3 + 85 Special Drawing Rights certif. acct. * 1,300 + 50 + 100 Coin 273 - 1 23 Loans 1,089 + 238 + 79 Acceptances—Bought outright — — 7 H^ld under repurchase agreements -- - 10 Federal Agency obligations—Bought outright 7,981 - 4 + 570 Held under repurchase agreements 1/ — - 78 -- U.S. Government securities: Bought outright—Bills 45,733 +4,719 + 7,210 Certificates Notes 52,397 - 600 + 3,434 Bonds 11,382 + 600 + 3,009 Total bought outright 2/ 109,512 +4,719 +13,653 Held under repurchase agreements \J — -- 772211 — Total U.S. Government securities 109,512 ++33,,999988 +13,653 Total loans and securities 118,582 +4,144 +14,295 Cash items in process of collection <i \yi\ 14,068 +2,949 + 3,446 Bank premises 390 + 1 + 15 Other assets 3./ 1,427 -1,095 - 516 TOTAL ASSETS (2,132) 147,720 +6,045 +17,402 Federal Reserve notes 96,915 + 257 + 9,205 Deposits: Member bank-reserves account 28,818 +2,004 + 3,291 U.S. Treasury—general account 10,435 +2,734 + 3,919 Foreign 272 29 9 Other J\l 622 - 48 + 79 Total deposits 40,147 +4,661 + 7,280 Deferred availability cash items (2,132) 6,803 + 962 + 352 Other liabilities and accrued dividends 1,392 + 5 + 398 TOTAL LIABILITIES (2,132) 145,257 +5,885 +17,235 C A P I T AL A C C O U N TS Capital paid in 1,057 + 1 + 45 Surplus 1,029 — + 46 Other capital accounts 377 + 159 + 76 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (Atlanta 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 $1,418 million was outstanding at the end of the latest statement week. 1/ Includes $153 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 16, 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 change s Within 15 days 984 5,514 -1,215 3 -79 16 days to 90 days 105 19,412 +3,237 310 - 3 91 days to 1 year 30,980 + 237 1,423 + 1 Over 1 year to 5 years 30,730 - 295 3,744 Over 5 years to 10 years 13,283 +1,434 1,641 +10 Over 10 years 9,593 + 600 860 -11 Total 1,089 109,512 +3,998 7,981 -82 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 16, 1978 New Phila- Cleve- Rich- St. Mlnne- Kansas San Total Boston York delnhia land mond * Atlanta Chicago Louis aoolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 11,680 660 3,315 598 921 974 518 1,763 466 231 425 509 1,300 Special Drawing Rights certif. acct. 1,300 67 330 69 112 116 51 215 55 28 48 57 152 Coin 273 15 22 11 39 23 21 22 20 10 44 13 33 Loans 1,089 77 352 22 15 109 94 111 36 70 86 82 35 Acceptances: Bought outright -- -- — -- -- -- -• -- -•* ~~ '"*** "" _„ Held under repurchase agreements -- -- -- -- -- -- "- -" **•* - - ~" Federal Agency obligations— Bought outright 7,981 371 1,941 400 664 654 361 1,273 326 192 327 4.14 1,0 5 8 Held under repurchase agreements 1/ -- -- -- -- "- -- "- "- "~ -~ " ~ - - ~" U.S. Government securities: Bought outright— Bills 45,733 2,128 11,125 2,291 3,806 3,745 2,069 7,293 1,867 1,097 1,874 2 ,374 6,064 Certificates -- — -- -- -- -- -- -- — -- -- -- -- Notes 52,397 2,438 12,746 2,624 4,361 4,290 2,370 8,357 2,140 1,258 2,147 2 ,720 6,946 Bonds 11,382 530 2,769 570 947 932 515 1,815 465 273 466 591 1,509 Total bought outright 2/ 109,512 5,096 26,640 5,485 9,114 8,967 4,954 17,465 4,472 2,628 4,487 5 ,685 14,519 Held under repurchase agreements 1/ -- -- -- -- -- -- -- -• — -- — -- -- Total U.S. Government securities 109,512 5,096 26,640 5,485 9,114 8,967 4,954 17,465 4,472 2,628 4,487 "~T,6 85 14,519 Total loans and securities 118,582 5,544 28,933 5,907 9,793 9,730 5,409 18,849 4,834 2,890 4,900 6 ,181 15,612 Cash items in process of collection 16,200 482 2,022 397 750 2,370 1,910 2,328 732 793 1,217 904 . 2,295 Bank premises 390 106 10 55 23 82 18 16 13 29 19 10 9 Other assets V 1,427 69 352 67 98 121 53 180 51 43 58 83 252 Interdlstrict settlement account -0- + 386 +1,366 + 22 - 774 + 4 -1.141. - 633 - 74 - 135 + 194 - 170 + 955 TOTAL 149,852 7,329 36,350 7,126 10,962 13,420 6,839 22,740 6,097 3,889 6,905 7 ,587 20,608 * Estimated (Atlanta District). 1/ Does not include U.S. Government and Federal Agency securities resold under matched sale-purchase transactions to foreign official and internationaalc counts, of which $1,418 million was outstanding at the end of the latest statement week. 2/ Includes $153 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

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 16, 1978 H.4.1(c) Phila St. Minne Kansas 1 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 96,915 5,032 24,793 4,955 8,154 8,657 3,696 16,162 4,137 1,855 3,980 4,463 11,031 Deposits: Member bank reserves i 28,818 880 7,035 948 1,566 1,457 1,901 3,953 754 787 1,188 1,680 6,669 U.S. Treasury—general account 10,435 969 1,958 789 493 944 711 1,091 584 532 601 635 1,128 Foreign 272 8 1/ 68 12 23 15 21 42 8 8 12 16 39 Other 2/ 622 1 506 13 1 16 56 5 1 2 1 7 13 Total deposits 40,147 . 1,858 9,567 1,762 2,083 2,432 2,689 5,091 1,347 1,329 1,802 2,338 7,849 Deferred availability cash items 8,935 296 1,030 238 404 2,074 183 905 480 600 965 576 1,184 Other liabilities and accrued dividends 1,392 62 323 66 111 116 95 206 53 33 54 72 201 TOTAL LIABILITIES 147,389 7,248 35,713 7,021 10,752 13,279 6,663 22,364 6,017 3,817 6,801 7,449 20,265 CAPITAL ACCOUNTS Capital paid in 1,057 32 276 44 90 56 80 160 33 32 45 60 149 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 377 17 94 17 33 30 18 59 15 9 16 20 49 * TOTAL LIABILITIES AND CAPITAL ACCOUNTS 149,852 7,329 36,350 7,126 10,962 13,420 6,839 22,740 6,097 3,889 6,905 7,587 20,608 FEDERAL RESERVE AGENTS1 ACCOUNTS F.R. notes outstanding 107,957 5,763 26,296 5,857 8,603 9,414 4,705 17,388 4,621 2,335 4,669 5,323 12,983 Collateral for F.R. notes: Gold certificate account 11,680 660 3,315 598 921 974 518 1,763 466 231 425 509 1,300 Special Drawing Rights certif. acct. 1,300 67 330 69 112 116 51 215 55 28 48 57 152 Eligible paper 1,041 77 351 22 14 105 93 98 36 59 78 73 35 U.S. Government securities 93,936 4,959 22,300 5,168 7,556 8,219 4,043 15,312 4,064 2,017 4,118 4,684 11,496 Total collateral 107,957 5,763 26,296 5,857 8,603 9,414 4,705 17,388 4,621 2,335 4,669 5,323 12,983 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 (Atlanta District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis