H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and ***&*y Condition Statement of F.R. Banks H.4.1 For immadicte release Septembct 14, 1978 Aver a per of dailj JJ^££_ Member bank reserves, Week er^cJ Change f^e\ jttt} j_r'cc;'^edneeday Reserve Bank credit, Sept. 13 Sept. 6, £epl . 14 Sept. 13, and related Item.?... ^ 197f »•• 197P _ lr 1976* Reserve Bank credit: (ii. nil lions ci* d^l'iLii j U.S. Government secuiitiee-- Bought outright--System account 1/ 106,614 -2,685 !12 55S -/ 108,067 Held under repuichase agreements 130 - 802 - J558 Federal Agency obligations-- Bought outright ,963 13 620 7,950 Held under repurchase agreements 6 236 17 46 Acceptances-- Bought outright 4 Held under repurchase agreements - 255 67 23 Loans-- Total member bank borrowing 510 - 654 4- 173 565 Includes seasonal borrowing of: 174 12 4- 66 168 Other borrowing Float 6,507 4-2,406 4 2,564 6,436 Other F.R. assets 2,294 + 76 324 2,416 Total Reserve Bank credit 124,027 -2,162 4-14,943 126,411 Gold Stock 11,668 11 4- 73 11,668 Special Drawing Rights certif. acct. 1,300 4- 100 1,300 Treasury currency outstanding 11,674 4- 449 11,683 148,669 -2,169 4-15,565 151,062 Currency in circulation ** 108,510 4- 665 9,806 108,740 Treasury cash holdings ** 318 4- 17 122 320 Treasury deposits with F.R. Banks 7,803 -1,665 3,961 7,880 Foreign deposits with F.R. Banks 278 + 11 186 285 Other deposits with F.R. Banks 3/ 673 - 157 12 592 Other F.R. liabilities and capital 3,783 - 326 472 3,819 121,365 -1 ,456 4-13,944 121,636 Member bank reserves: - With Federal Reserve Banks 27,304 714 4- 1,621 29,426 Currency and coin 9,982 4- 394 4- 701 9,982 Total reserves held 4/ 37,355 - 319 4- 2,295 "39,477 Required reserves 37,143 - 176 4- 2,404 37,143 Excess reserves 4/ 212 - 143 109 2,334 NOTE: A net of $178 million of surplus reserves were eligible to be carried forward from the week ended September 6, into the week ending September 13. On September 13, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $85,265 million, a decrease of $198 million for the week. 1/ Net of $4,350 million, daily average, matched sale-purchase transactions out standing during the latest statement week, of which $982 million was with foreign official and international accounts. Includes securities loaned-fully secured by U.S. Government securities. 2/ Net of $2,898 million matched sale-purchase transactions outstanding at the end of the latest statement week>of which $1,243 million was with foreign official and international accounts. Includes $185 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. Adjusted to include $69 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. •k Estimated (Richmond District). Estimated (Treasury's figures). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4,1(a) CONtV >A* :o ST CEMENT OF CONDITIO!!O F ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Sept. 13, Sept. 6, Sept. 14, A S S ET S 1978** 1978 1977 Gold certificate account 11,668 •11 + 73 Special Drawing Rights certif. acct. * 1,300 + 100 Coin 267 14 Loans 565 220 207 Acceptances—Bought outright 4 Held under repurchase agreements 23 + 23 123 Federal Agency obligations—Bought outright 7,950 - 22 + 621 Held under repurchase agreements 1/ 46 + 46 + 5 U.S. Government securities: Bought outright—Bills 43,342 +1,892 + 5,378 Certificates Notes 53,229 + 4,266 Bond 3 11,496 + 3,123 Total bought outright 2/ 108,067 +1,892 +12,767 Held under repurchase agreements \J 908 + 908 + 94 Total U.S. Government securities 108,975 +2,800 +12,861 Total loans and securities 117,559 +2,627 +13,567 Cash items in process of collection (2,088) 13,472 +1,479 + 1,731 Bank premises 393 1 + 17 Other assets 3./ 2,023 -1,530 - 284 TOTAL ASSETS (2,088) 146.682 +2,564 +15,190 LIABI.LI.TIES Federal Reserve notes 97,644 + 154 + 9,403 Deposits: Member bank-reserves account 29,426 +3,732 + 907 U.S. Treasury-general account 7,880 + 466 + 3,891 Foreign 285 - 16 39 Other _4/ 592 - 974 24 Total deposits 38,183 +3,208 + 4,735 Deferred availability cash items (2,088) 7,036 - 973 + 565 Other liabilities and accrued dividends 1,430 + 34 + 345 TOTAL LIABILITIES (2,088) 144,293 +2,423 +15,048 C A P I T AL A C C O U N TS Capital paid in 1,060 + 1 + 47 Surplus 1,029 — + 46 Other capital accounts 300 + 140 + 49 * 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 $2,898 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $185 million securities loaned— fully secured by U.S. Government 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. ** Estimated (Richmond District). MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. September 13, 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 Loan 8 Accept , securities obligations ances Holdings Weekly Holdings Weekly changes 1changes Within 15 days 413 23 5,484 + 756 46 -51 16 days to 90 days 113 21,079 +3,357 394 +74 91 days to 1 year 39 28,225 -1,313 1,467 + 8 Over 1 year to 5 years 30,959 — 3,619 +25 Over 5 years to 10 years 13,521 — 1,609 -32 Over 10 years 9 707 — 861 — Total 565 23 108, t 975 +2,800 7,996 +24 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 13, 1978 New Phila Cleve- Rich- St. Minne Kansas San Total Boston York delphia land 1 mond Atlanta Chicago Louis apolis Citv Dallas Francisco (In millions of dollars) A S S E T S Gold certificate account 11,668 660 3,303 598 921 974 518 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 16 22 12 38 22 25 20 20 9 41 14 28 Loans 565 60 14 13 13 80 64 78 71 36 51 47 38 Acceptances: Bought outright — -- — -- — -- -- -- -- -- -- -- -- Held under repurchase agreements 23 — 23 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations— Bought outright 7,950 370 1,934 398 662 651 359 1,268 324 191 326 413 1,054 Held under repurchase agreements 1/ 46 — 46 — — -- — — — — — -- — U.S. Government securities: Bought outright-- Bills 43,342 2,017 10,543 2,170 3,607 3,549 1,961 6,913 1,770 1,040 1,776 2,250 5,746 Certificates — -- — — -- — -- -- -- -- — -- --. Note 8 5J,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 Bond 8 11.496 535 2.797 576 957 941 520 1.833 469 276 471 597 1,524 Total bought outright 2/ 108,067 5,029 26,289 5,412 8,994 8,848 4,889 17,235 4,413 2,593 4,428 5,610 14,327 Held under repurchase agreements 1/ 908 « 908 — -- -- -- -- -- -- .. -- -- Total U.S. Government securities IPS,975 5.029 27,197 5.412 8.994 8,848 4,889 17,235 4.413 2,593 4.428 5,610 14,327 Total loans and securities 117,559 5,459 29,214 5,823 9,669 9,579 5,312 18,581 4,808 2,820 4,805 6,070 15,419 Cash items in process of collection 15,560 423 2,255 326 732 2,397 1,670 1,814 808 749 1,472 954 1,960 Bank premises 393 106 10 55 23 83 20 16 13 29 19 10 9 Other assets V 2,023 84 443 93 204 131 146 236 67 51 70 94 404 Interdistrict settlement account -0- - 13 +1,283 - 317 - 679 - 284 - 719 + 178 - 202 - 164 - 274 + 225 + 966 TOTAL 148,770 6,802 36,860 6,659 11,020 13,018 7,023 22,823 6,035 3,753 6,606 7,933 20,238 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 and of the latest statement week. 2/ Net of $2,898 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $185 million securities loaned—fully secured by U.S. Government securities. 2/ Includes assets denominated in foreign currencies. * Estimated (Richmond District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 13, 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 97,644 ! 5,082 25,190 4,973 8,226 8,785 3,349 16,320 4,155 1,834 4,032 4,564 11,134 Deposits: Member bank reserves 29,426 578 8,101 862 1,363 1,280 1,879 3,946 946 738 1,124 2,088 6,521 U.S. Treasury—general account 7,880 693 1,225 425 715 512 ' 435 1,196 342 484 270 510 1,073 Foreign 285 8 1/ 81 12 23 15 21 42 8 8 12 16 39 Other 2/ 592 1 467 * 2 28 59 2 5 5 2 13 8 Total deposits 38,183 1,280 9,874 1,299 2,103 1,835 2,394 5,186 1,301 1,235 1,408 2,627 7,641 Deferred availability cash items 9,124 300 826 218 369 2,148 1,037 745 447 581 1,013 539 901 Other liabilities and accrued dividends 1,430 62 351 68 118 116 71 208 55 33 54 68 226 TOTAL LIABILITIES 146,381 6,724 36,241 6,558 10,816 12,884 6,851 22,459 5,958 3,683 6,507 7,798 19,902 CAPITAL ACCOUNTS Capital paid in 1,060 j 33 276 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 300 13 76 13 26 23 14 47 12 7 11 16 42 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ' 1 148,770 6,802 36,860 6,659 11,020 13,018 7,023 22,823 6,035 3,753 6,606 7,933 20,238 FEDERAL RESERVE AGENTS1 ACCOUNTS F.R. notes outstanding 108,995 5,738 26,975 5,948 8,667 9,407 4,653 17,600 4,627 2,345 4,716 5,392 12,927 Collateral for F.R. notes: Gold certificate account 11,668 660 3,303 598 921 974 518 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 525 60 14 13 13 76 63 67 71 32 44 38 34 U.S. Government securities 95,502 4,951 23,328 5,268 7,621 8,241 4,021 15,555 4,035 2,054 4,199 4,788 11,441 Total collateral 108,995 5,738 26,975 5,948 8,667 9,407 4,653 17,600 4,627 2,345 4,716 5,392 12,927 V 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. * Less than $500,000. ** Estimated (Richmond District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis