H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and *.f*U.Rt^. Condition Statement of F.R. Banks H.4.1 For immediate release August 31, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, August 30, Aug. 23, Aug. 31, Aug. 30, and related items 1978 1978 1977 1978 Reserve Bank credit: (In millions of dollars) U.S. Government securitles-- Bought outright—System account 1/ 109,912 +819 +13,440 2/ 109,800 Held under repurchase agreements 1,683 +403 + 1,529 2,503 Federal Agency obligations— Bought outright 7,981 + 609 7,978 Held under repurchase agreements 504 +281 + 482 896 Acceptances— Bought outright 5 Held under repurchase agreements 329 +177 + 311 449 Loans— Total member bank borrowing 1,020 -584 - 373 1,310 Includes seasonal borrowing of: 208 + 12 + 78 199 Other borrowing Float 4,498 -380 + 1,651 5,448 Other F.R. assets 1,971 + 26 - 498 2,014 Total Reserve Bank credit 127,898 +742 +17,146 130,398 Gold Stock 11,680 — + 85 11,680 Special Drawing Rights certif. acct. 1,300 — + 100 1,300 Treasury currency outstanding 11,658 + 7 + 458 11,669 152,535 +748 +17,788 155,047 Currency in circulation * 107,002 -258 + 9,518 107,574 Treasury cash holdings * 370 + 56 58 370 Treasury deposits with F.R. Banks 11,675 +865 + 5,822 12,162 Foreign deposits with F.R. Banks 264 - 6 103 235 Other deposits with F.R. Banks 3/ 601 + 38 3 631 Other F.R. liabilities and capital 4,319 +258 + 778 4,421 124,231 +954 +15,954 125,393 Member bank reserves: With Federal Reserve Banks 28,305 -205 + 1,835 29,653 Currency and coin 9,470 +664 + 697 9,470 Total reserves held 4/ 37,843 +458 + 2,498 39,191 Required reserves 37,539 +206 + 2,565 37,539 Excess reserves 4/ 304 +252 - 67 1,652 NOTE: A net of $23 million of surplus reserves were eligible to be carried forward from the week ended August 23, into the week ending August 30. On August 30, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $85,717 million, a decrease of $958 million for the week. 1/ Net of $974 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $974 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2/ Net of $1,165 million matched sale-purchase transactions outstanding at the end of the latest statement week,of which $1,165 million was with foreign official and international accounts. Includes $70 million securities loaned—fully secured by U.S. Government securities. 3/ Includes $16 million of certain deposits of foreign-owned banking institu tions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. 4/ Adjusted to include $68 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * 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 Aug. 30, Aug. 23, Aug. 31, A S S E TS 1978 1978 1977 Gold certificate account 11,680 + 85 Special Drawing Rights certif. acct. 1,300 + 100 Coin 277 6 7 Loans 1,310 487 45 Acceptances--Bought outright 4 Held under repurchase agreements 449 48 + 322 Federal Agency obligations--Bought outright 7,978 3 + 624 Held under repurchase agreements J7 896 232 + 745 U.S. Government securities: Bought outright—Bills 45,075 113 + 5,054 Certificates Notes 53,229 + 4,266 Bonds 11,496 + 3,123 Total bought outright 2/ 109,800 + 113 +12,443 Held under repurchase agreements 17 2,503 554 + 1,424 Total U.S. Government securities 112,303 - 441 +13,867 Total loans and securities 122,936 651 +15,599 Cash items in process of collection (1,908) 11,686 +1 ,219 + 1,971 Bank premises 392 + 15 Other assets 3J 1,622 + 60 - 463 TOTAL ASSETS (1,908) 149,893 + 622 +17,300 L I A B I L I T I ES Federal Reserve notes 96,553 + 257 + 9,047 Deposits: Member bank-reserves account 29,653 - 654 + 1,391 U.S. Treasury—general account 12,162 + 702 + 6,047 Foreign 235 - 8 300 Other _V 631 + 4 48 Total deposits 42,681 + 44 + 7,090 Deferred availability cash items (1,908) 6,238 + 101 + 365 Other liabilities and accrued dividends 1,639 + 52 + 550 TOTAL LIABILITIES (1,908) 147,111 + 454 +17,052 C A P I T AL A C C O U N T S. Capital paid in 1,059 + 1 + 48 Surplus 1,029 -- + 46 Other capital accounts 694 + 167 + 154 * Figures in parentheses are the eliminations made in the consolidating process. 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 $1,165 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $70 million securities loaned-fully secured by U.S. Goverrranwit securities. 3>/ Includes assets denominated in foreign currencies. 4/ Includes $16 million of certain deposits of foreign-owned banking institu tions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. August 30, 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 1,272 449 6,404 -415 1,041 +327 16 days to 90 days 38 22,059 + 58 258 - 4 91 days to 1 year 29,458 - 84 1,479 + 56 Over 1 year to 5 years 31,154 — 3,594 -150 Over 5 years to 10 years 13,521 — 1,641 — Over 10 years — — 9,707 — 861 — Total 1,310 449 112,303 -441 8,874 +229 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 30, 1978 | New [ 1 Fhila- 1 Cleve- Rich St. Minne- Kansas San Total 1 Bo8ton York ,_d_al_phla_ land 1 mond Atlan.t a 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 277 16 24 12 39 22 25 23 19 10 42 14 31 Loans 1,310 36 513 65 41 93 89 140 69 61 88 87 28 Acceptances: Bought outright -- -- -- -- -- -- -- -- -- -- ~~ — Held under repurchase agreements 449 — 449 -- -- -- -- -- -- -" ~~ -- — Federal Agency obligations— Bought outright 7,978 371 1,941 400 664 653 361 1,272 326 191 327 414 1,058 Held under repurchase agreements y 896 ' -- 896 -- -- -- — -- -- -- -- -- ~~ U.S. Government securities: Bought outright-- Bills 45,075 2,098 10,965 2,257 3,751 3,691 2,039 7,189 1,840 1,082 1,847 2,340 5,976 Certificates -- -- -- -- -- -- -- -- -- -- -- -- -- Note 8 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 outright 1/ 109,800 5,110 26,710 5,499 9,138 8,990 4,967 17,511 4,484 2,635 4,499 5,700 14,557 HHeelldd uunnddeerr rreeppuurrcchhaassee aaggrreeeemmeennttss iii/// 2,503 -- 2,503 -- -- -- -- -- -- -- -- -- -- TToottaall UU..SS.. GGoovveerrnnmmeenntt sseeccuurriittiieess 112,303 1 5,110 29,213 5,499 9,138 8,990 4,967 17,511 4,484 2,635 4,499 5,700 14,557 Total loans and securities 122,936 5,517 33,012 5,964 9,843 9,736 5,417 18,923 4,879 2,887 4,914 6,201 15,643 Cash items in process of collection 13,594 315 1,796 344 583 2,046 1,464 1,811 535 899 1,080 897 1,824 Bank premises 392 ' 106 10 55 23 83 19 16 13 29 19 10 9 Other assets 2.' 1,622 75 398 86 118 131 110 200 58 51 64 85 246 Interdistrict settlement account -0- + 537 -1,008 - 189 - 363 - 471 - 626 + 74 + 52 - 176 + 378 + 288 +1,504 TOTAL 151,801 7,293 37,877 6,939 11,276 12,637 6,978 23,025 6,077 3,959 6,970 8,061 20,709 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 $1,165 million matches sale-purchase transactions outstanding at the end of the latest statement week. Includes $70 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 30, 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 96,553 5,019 24,835 4,937 8,121 8,688 3,390 16,064 4,106 1,820 3,989 4,534 11,050 Deposits: Member bank reserves 29,653 852 6,061 846 1,823 1,566 1,999 4,496 759 799 1,367 2,102 6,983 U.S. Treasury—general account 12,162 995 4,526 763 582 275 380 1,035 669 640 548 619 1,130 Foreign 235 9 1/ 30 12 23 15 21 42 9 8 11 16 39 Other 2/ 631 525 * 1 15 58 4 1 2 1 14 10 Total cleposlts 42,681 1,856 11,142 1,621 2,429 1,871 2,458 5,577 1,438 1,449 1,927 2,751 8,162 Deferred availability cash items 8,146 260 761 194 349 1,756 867 744 386 575 881 542 831 Other liabilities and accrued dividends 1,639 61 422 67 136 157 75 215 55 36 57 79 279 TOTAL LIABILITIES 149,019 7,196 37,160 6,819 11,035 12,472 6,790 22,600 5,985 3,880 6,854 7,906 20,322 CAPITAL ACCOUNTS Capital paid in 1,059 33 276 44 91 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 694 32 174 32 63 54 30 108 27 16 28 37 93 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 151,801 7,293 37,877 6,939 11,276 12,637 6,978 23,025 6,077 3,959 6,970 8,061 20,709 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. note8 outstanding 108,520 5,767 26,531 5,959 8,618 9,411 4,750 17,478 4,615 2,340 4,715 5,381 12,955 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 1,117 35 382 65 41 89 87 127 60 54 80 71 26 U.S. Government securities 94,423 5,005 22,504 5,227 7,544 8,232 4,094 15,373 4,034 2,027 4,162 4,744 11,477 Total collateral 108,520 5,767 26,531 5,959 8,618 9,411 4,750 17,478 4,615 2,340 4,715 5,381 12,955 U After deducting $205 million participations of other Federal Reserve Banks. 2/ Includes $16 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis