H.4.1 Factors Affecting Reserve Balances of Depository Institutions

vblijOteV/. FEDERAL RESERVE Factors Affecting Bank Reserves ancf -.f^rRfc^ Condition Statement of F.R. Banks H.4.1 For immediate release September 7, 1978 Averages of daily figure Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Sept. 6, Aug. 30, 1 Sept. 7, Sept. 6, . and related items 1978* 1978 1 1977 1978* Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright--System account 1/ 109,299 - 613 +15,073 2/ 106,175 Held under repurchase agreements 932 - 751 + 932 — Federal Agency obligations-- 3ought outright 7,976 - 5 + 622 7,972 Held under repurchase agreements 242 - 262 + 242 "' Acceptances— Bought outright -- -- 4 ! -- Held under repurchase agreements 258 - 71 + 258 — Loans-- Total member bank borrowing 1,164 + 144 + 528 785 Includes seasonal borrowing of: 186 - 22 + 72 172 Other borrowing Float 4,151 - 347 + 563 4,118 Other F.R. assets 2,189 + 218 305 3,742 Total Reserve Bank credit 126,210 -1, 688 +17,910 122,792 Gold Stock 11,679 - 1 + 84 11,679 Special Drawing Rights certif. acct. 1,300 — + 100 1,300 Treasury currency outstanding 11,670 + 12 + 459 11,672 150,859 -1, 676 +18,553 147,443 Currency in circulation ** 107,811 + 809 + 9,591 108,470 Treasury cash holdings ** 320 - 50 120 320 Treasury deposits with F.R. Banks 9,468 -2, 207 + 5,781 7,414 Foreign deposits with F.R. Banks 267 + 3 123 301 Other deposits with F.R. Banks 3/ 828 + 227 + 185 1,555 Other F.R. liabilities and capital 4,115 - 204 + 943 3,685 122,810 -1, 421 + 16,259 121,745 Member bank reserves: With Federal Reserve Banks 28,049 - 256 + 2,294 25,699 Currency and coin 9,588 + 118 + 647 9,588 Total reserves held 4/ 37,705 - 138 + 2,908 35,355 Required reserves 37,319 - 220 + 2,753 37,319 Excess reserves 4/ 386 + . 82 + 155 - 1,964 NOTE: A net of $173 million of surplus reserves were eligible to be carried forward from the week ended August 30, into the week ending September 6. On September 6, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $85,463 million, a decrease of $254 million for the week. 1/ Net of $1,666 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,133 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. Government securities. 2/ Net of $4,790 million matched sale-purchase transactions outstanding at the end of the latest statement week,of which $1,056 million was with foreign official and international accounts. Includes $92 million securities loaned--fully secured by U.S. Government securities. 3/ Includes $16 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 $68 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. ** Estimated (Treasury's figures). Estimated (Richmond and Atlanta Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OB ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Sept. 6, Aug. 30, Sept. 7, A S S E TS 1978** 1978 1977 Gold certificate account 11,679 - 1 + 84 Special Drawing Rights certif. acct. * 1,300 — + 100 Coin 267 - 10 - 7 Loans 785 - 525 + 221155 Acceptances--Bought outright 44 Held under repurchase agreements — . 449 Federal Agency obligations--Bought outright 7,972 - 6 + 618 Held under repurchase agreements 1/ — - 896 — U.S. Government securities: Bought outright—Bills 41,450 -3,625 + 7,300 Certificates Notes 53,229 + 4,266 Bonds 11,496 + 3,123 Total bought outright 27 106,175 -3,625 +14,689 Held under repurchase agreements \j -2,503 Total U.S. Government securities 106,175 -6,128 +14,689 Total loans and securities 114,932 -8,004 +15,518 Cash items in process of collection (1,815) 11,473 - 213 + 507 Bank premises 394 + 2 + 18 Other assets 3_/ 3^348. +1,726 + 1,181 TOTAL ASSETS (1,815) 143,393 -6,500 +17,401 t l A B I LI T I IS Federal Reserve notes 97,384 + 831 + 8,961 Deposits: Member bank-reserves account 25,699 -3,954 + 4,296 U.S. Treasury—general account 7,414 -4,748 + 2,573 Foreign 301 + 66 - 174 Other 4,/ __ 1,555 + 924 + 834 Total deposits 34,969 -7,712 + 7,529 Deferred availability cash items (1,815) 7,355 +1,117 + 334 Other liabilities and accrued dividends 1,396 - 243 + 422 TOTAL LIABILITIES (1,815) 141,104 -6,007 +17,246 C A P I T AL A C C O U N TS Capital paid in 1,059 »«. + 46 Surplus 1,029 — + 46 Other capital accounts 201 - 493 + 63 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (Richmond and Atlanta 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 $4,790 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 92 million securities loanedfully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. 4/ Includes $16 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. September 6, 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 660 4,728 -1,676 97 -944 16 days to 90 days 125 17,722 -4,337 320 + 62 91 days to 1 year 29,538 + 80 1,459 - 20 Over 1 year to 5 years 30,959 - 195 3,594 -- Over 5 years to 10 years 13,521 — 1,641 — Over 10 years 9,707 *- 8vl .. Total 785 106,175 -6,128 7,972 -902 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 SEPTEMBER 6, 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 11,679 660 3,314 598 921 974 518 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 267 15 22 11 39 22 25 21 19 9 42 13 29 Loans 785 78 47 21 15 33 139 73 31 54 60 73 161 Acceptances: Bought outright -- — — — — -- -_ -- -- __ — -- -- Held under repurchase agreements -- -- -- -- — -- -- — -- • -- -- Federal Agency obligations— Bought outright 7,972 371 1,939 399 663 653 361 1,271 326 191 327 414 1,057 Held under repurchase agreements JL/ -- -- ~- -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright— Bills 41,450 1,929 10,083 2,076 3,450 3,394 1,875 6,611 1,692 995 1,698 2,152 5,495 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 outright 2/ 106,175 4,941 25,828 5,318 8,837 8,693 4,803 16,933 4,336 2,548 4,350 5,512 -/14,076 Held under repurchase agreements 1/ -- -- _- _- -- -- -- -- -- -- _.. -- -- Total U.S. Government securities 106,175 4,941 25,828 5,318 8,837 8,693 4,803 "~ 16,933 4,336 2,548 4,350 5,512 14,076 Total loans and securities 111144,,993322 55,,339900 2277,,881144 55,,773388 99,,551155 99,,337799 55,,330033 1188,,227777 44,,669933 22,,779933 44,,773377 55,,999999 15,294 Cash items in process of collection 1133,,228888 448844 11,,884466 555511 882222 11,,999999 11,,223311 11,,779955 446633 443399 11,,332211 889966 1,441 Bank premises 394 106 10 55 23 83 21 16 13 29 19 10 9 Other assets 3/ 3,348 79 424 86 133 118 103 1,468 129 214 115 160 319 Interdistrict settlement account J -0- + 403 +3,800 - 379 - 548 - 105 - 652 - 786 - 202 - 151 - 67 - 473 - 840 TOTAL 145,208 7,204 37,560 6,729 11,017 12,586 6,600 22,769 5,636 3,592 6,640 7,171 17,704 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 $4,790 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $92 million securities loaned--fully secured by U.S. Government securities. 3_/ Includes assets denominated in foreign currencies. 4/ Includes securities loaned to other Reserve Banks. * Estimated (Richmond and Atlanta Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 6, 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 97,384 5,055 25,120 4,971 8,187 8,745 3,355 16,224 4,143 1,831 4,028 4,573 11,152 Deposits: Member bank reserves 25,699 869 8,041 858 1,501 1,298 1,411 4,258 589 512 964 1,323 4,075 U.S. Treasury—general account 7,414 834 1,086 471 467 457 579 892 329 528 449 464 858 Foreign 301 8 1/ 97 12 23 15 21 42 8 8 12 16 39 Other 2/ 1,555 1,443 * 1 17 56 6 3 2 2 14 11 Total deposits 34,969 1,711 10,667 1,341 1,992 1,787 2,067 5,198 929 1,050 1,427 1,817 4,983 Deferred availability cash items 9,170 303 868 258 526 1,763 947 797 440 609 1,038 576 1,045 Other liabilities and accrued dividends 1,396 63 320 65 120 128 65 208 53 35 53 77 209 TOTAL LIABILITIES 142,919 7,132 36,975 6,635 10,825 12,423 6,434 22,427 5,565 3,525 6,546 7,043 17,389 CAPITAL ACCOUNTS Capital paid in 1,059 33 275 44 91 56 80 160 33 32 45 61 149 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 1 201 ! 7 43 6 14 52 8 25 6 4 6 9 21 TOTAL LIABILITIES AND " CAPITAL ACCOUNTS 145,208 7,204 37,560 6,729 11,017 12,586 6,600 22,769 5,636 3,592 6,640 7,171 17,704 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 108,782 5,754 26,735 5,945 8,636 9,418 4,723 17,558 4,608 2,350 4,728 5,393 12,934 Collateral for F.R. notes: Gold certificate account 11,679 660 3,314 598 921 974 518 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 732 33// 7788 47 21 15 29 131 62 31 48 53 58 159 U.S. Government securities 95,071 --''44,,994499 23,043 5,258 7,588 8,299 4,023 15,518 4,056 2,043 4,202 4,769 11,323 Total collateral 108,782 5,754 26,734 5,946 8,636 9,418 4,723 17,558 4,608 2,350 4,728 5,393 12,934 1_/ After deducting $204 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. 3/ Includes securities borrowed from other Reserve Banks. * Less than $500,000. ** Estimated (Richmond and Atlanta Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis