H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.•iiS^^V... FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release August 24, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Aug. 23, Aug. 16, Aug. 24, August 23, and related items 1978* 1978 1977 1978* Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 1/ 109,093 +1,373 +12,931 2/ 109,687 Held under repurchase agreements 1,280 +1,280 + 1,280 3,057 Federal Agency oblications-- Bought outright 7,981 2 + 570 7,981 Held under repurchase agreements 223 + 223 + 223 664 Acceptances-- Bought outright 6 Held under repurchase agreements 152 + 152 + 152 401 Loans- Total member bank borrowing 1,604 + 640 61 1,797 Includes seasonal borrowing of: 196 + 12 + 80 195 Other borrowing Float 4,909 _ 180 + 1,315 4,318 Other F.R. assets 1,945 - 645 - 441 1,954 Total Reserve Bank credit 127,186 +2 ,839 +15,962 129,859 Gold Stock 11,680 -- + 85 11,680 Special Drawing Rights certif. acct. 1,300 + 29 + 100 1,300 Treasury currency outstanding 11,651 + 11 + 455 11,654 151,818 +2 ,879 +16,603 154,493 Currency in circulation ** 107,203 - 261 + 9,484 107,294 Treasury cash holdings ** 370 -- 64 370 Treasury deposits with F.R. Banks 10,810 +2, 391 + 4,539 11,460 Foreign deposits with F.R. Banks 270 + 8 55 243 Other deposits with F.R. Banks 3/ 563 - 25 36 627 Other F.R. liabilities and capital 4,060 + 255 + 691 4,193 123,276 +2 ,368 +14,559 124,187 Member bank reserves: With Federal Reserve Banks 28,542 + 511 + 2,044 30,307 Currency and coin 8,806 - 994 + 605 8,806 Total reserves held 4/ 37,417 - 483 + 2,617 39,182 Required reserves 37,333 - 278 + 2,561 37,333 Excess reserves 4/ 84 - 205 + 56 1,849 NOTE: A net of $150 million of surplus reserves were eligible to be carried forward from the week ended August 16, into the week ending August 23. On August 23, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $86,675 million, a decrease of $1,011 million for the week. \J Net of $1,479 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,113 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2/ Net of $1,065 million matched sale-purchase transactions outstanding at the end of the latest statement week,of which $1,065 million was with foreign official and international accounts. include- ^164 rriliion secu^iuies 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. kj Adjusted to include $69 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Cleveland District). ** 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 (Tn millions of dollars) Wednesday Change since Aug. 23, Aug. 16, I Aug. 24, A S S E TS 1978** 1978 1 1977 Gold certificate account 11,680 + 85 Special Drawing Rights certif. acr.t. 1,300 + 100 Coin 283 + 10 10 Loans 1,797 + 708 526 Acceptances--Bought outright 6 Held under repurchase agreements 401 401 + 401 Federal Agency obligations--Bought outright 7,981 + 570 Held under repurchase agreements \J 664 664 + 664 U.S. Government securities: Bought outright--Bills 44,962 771 + 7,467 Certificates Notes 53,229 832 + 4,266 Bonds 11,496 114 + 3,123 Total bought outright 2/ 109,687 + 175 + 14,856 Held under repurchase agreements 1/ 3,057 +3,057 + 3,057 Total U.S. Government securities 112,744 ++33,,223322 +17,913 Total loans and securities 123,587 ++55,,000055 +19,016 Cash items in process of collection (2,017) 10,569 -3,948 + 1,453 Bank premises 392 + 2 + 17 Other assets 3y 1,562 + 45 - 451 TOTAL ASSETS (2,017) 149,373 +1,114 +20,210 tlABItlllll Federal Reserve notes 96,292 - 346 + 8,993 Deposits: Member bank-reserves account 30,307 +1,464 + 4,964 U.S. Treasury—general account 11,460 +1,025 + 4,898 Foreign 243 29 108 Other _4/ 627 + 5 + 95 Total deposits 42,637 +2,465 + 9,849 Deferred availability cash items (2,017) 6,251 -1,343 + 610 Other liabilities and accrued dividends 1,579 + 187 + 560 TOTAL LIABILITIES (2,017) 146,759 + 963 +20,012 C A P I T AL A C C O U N TS Capital paid in 1,058 + 1 + 47 Surplus 1,029 -- + 46 Other capital accounts 527 + 150 + 105 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (Cleveland 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 $-0- million was outstanding at the end of the latest statement: week. 2/ Net of $1,065 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $164 million securities loaned— fully secured by U.S. Government securities. 2/ 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 23, 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 1,759 401 6,819 +1,305 714 +711 16 days to 90 days 38 22,001 +2,589 262 - 48 91 days to 1 year 29,542 -1,438 1,423 -- Over 1 year to 5 years 31,154 + 424 3,744 -- Over 5 years to 10 years 13,521 + 238 1,641 -- Over 10 years 9,707 + 114 861 +___! Total 1,797 401 112,744 +3,232 8,645 +664 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 23, 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 11,680 660 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 283 17 23 12 40 22 27 22 20 9 44 14 33 Loans 1,797 43 264 104 21 257 288 160 102 62 152 315 29 Acceptances: Bought outright -- -- -- -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements 401 -- 401 -- -- -- -- -- -- -- -- -- „_ Federal Agency obligations— Bought outright 7,981 371 1,941 400 664 654 361 1,273 326 192 327 414 1,0'-3 Held under repurchase agreements 1/ 664 -- 664 -- -- — -- -- -- -- -- -- .._ U.S. Government securities: Bought outright— Bills 44,962 2,092 10,938 2,252 3,742 3,682 2,034 7,171 1,835 1,079 1,842 2,334 5,961 Certificates -- -- -- -- -- -- -- -- -- -- -- -- -- Notes 53,229 2,477 12,949 2,666 4,430 4,358 2,408 8,489 2,174 1,277 2,181 2,763 7,057 Bonds 11,496 535 2,796 576 957 941 520 1,833 470 276 471 597 1,524 Total bought outrigjht 2/ 109,687 5,104 26,683 5,494 9,129 8,981 4,962 17,493 4,479 2,632 4,494 5,694 14,542 Held under repurchase agreements \j 3,057 -- 3,057 — -- -- -- -- -- -- -- -- -- Total U.S. Government securities 112,744 5,104 29,740 5,494 9,129 8,981 4,962 17,493 4,479 2,632 4,494"" 5,694 14,542 Total loans and securities 123,587 5,518 33,010 5,998 9,814 9,892 5,611 18,926 4,907 2,886 4,973 '" 6,423 15,629 Cash items in process of collection 12,586 381 1,316 316 657 1,950 1,491 1,533 571 672 1,128 869 1,702 Bank premises 392 106 10 55 23 83 19 16 13 29 19 10 9 Other assets 3/ 1,562 70 390 75 113 128 99 193 57 49 64 96 228 Interdistrict settlement account -0- + 320 -1,270 + 66 - 422 - 487 - 625 + 669 + 186 - 25 + 295 - 304 +1,597 TOTAL 151,390 7,139 37,124 7,189 11,258 12,678 7,191 23,337 6,275 3,879 6,996 7,674 20,650 * Estimated (Cleveland District). U 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 $1,065 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $164 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 23, 1978 H.4.1(c) Phila St. Minne Kansas San Total Boston New York delphia Cleveland* Richmond Atlanta Chicago Louis apolis City Dallas iFrancisco (In millions of dollars) U A B I L I T I ES Federal Reserve notes 96,292 5,011 24,717 4,928 8,083 8,638 3,450 16,033 4,108 1,828 3,991 4,533 10,972 Deposits: Member bank reserves 30,307 840 6,260 1,015 1,890 1,407 2,067 4,809 979 803 1,444 1,858 6,935 U.S. Treasury—general account 11,460 834 3,758 828 456 610 412 1,132 633 573 510 474 1,240 Foreign 243 8 1/ 39 12 23 15 21 42 8 12 16 39 Other 2/ 627 502 21 1 16 57 5 2 2 7 13 Total deposits 42,637 1,682 10,559 1,876 2,370 2,048 2,557 5,988 1,621 1,386 1,968 2,355 8,227 Deferred availability cash items 8,268 293 735 202 450 1,723 923 695 405 554 871 567 850 Other liabilities and accrued dividends 1,579 65 437 71 134 117 80 221 55 36 56 72 235 TOTAL LIABILITIES 148,776 7,051 36,448 7,077 11,037 12,526 7,010 22,937 6,189 3,804 6,886 7,527 20,284 CAPITAL ACCOUNTS Capital paid in 1,058 33 276 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 527 23 133 24 44 41 23 83 21 12 22 29 72 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 151,390 7,139 37,124 7,189 11,258 12,678 7,191 23,337 6,275 3,879 6,996 7,674 20,650 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding ' 108,078 ' 5,752 26,287 5,914 8,525 9,431 4,816 17,342 4,613 2,323 4,682 5,403 12,990 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 1,718 38 263 104 21 252 277 143 101 54 141 298 26 U.S. Government securities 93,380 4,987 22,379 5,143 7,471 8,089 3,970 15,221 3,991 2,010 4,068 4,539 11,512 Total collateral 108,078 5,752 26,287 5,914 8,525 9,431 4,816 17,342 4,613 2,323 4,682 5,403 12,990 i/ After deducting $204 million participations of other Federal Reserve Banks. 2/ Includes $17 nillion of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. * Estimated (Cleveland District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis