H.4.1 Factors Affecting Reserve Balances of Depository Institutions

SsSJS&v FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release September 21, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Sept. 20, Sept. 13, Sept. 21, Sept. 20, and related items 1978 1978 1977 1978 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 1/ 109,832 +3,218 +13,109 2/ 109,824 Held under repurchase agreements -- - 130 -- — Federal Agency obligations-- Bought outright 7,950 13 + 621 7,950 Held under repurchase agreements 6 Acceptances-- -.. Bought outright 4 1 — — Held under repurchase agreements J — — -•- Loans-- Total member bank borrowing 923 + 413 + 185 ! 2,032 Includes seasonal borrowing '? 13b. + 15 + 80 179 Uther borrowing F^oat 5, £08 - 64'^ + 1,539 6,781 0:he F.R. assets 2^385 + *1 516 2,361 '.i'o-ttl 'cseyve Bcink c::u\lt +^','9-8 +14,935 128,943 1-J:A Stock 11,668 - + 73 11,668 Special Drawing Rights certir. '.cue. 1,300 -- + 100 i 1,300 Treasury currency outstanding 11,683 + 9 + 454 11,683 151,550 +2,937 +15,562 153,599 Currency in circulation * 108,124 - 388 + 9,970 108,127 Treasury cash holdings * 318 + 12 115 320 Treasury deposits with F.R. Banks 9,497 +1,694 + 3,309 12,997 Foreign deposits with F.R. Banks 299 + 21 + 16 337 Other deposits with F.R. Banks 2/ 724 + 51 9 660 Other F.R. liabilities and capital 4,046 + 263 + 501 4,671 123,008 +1,653 +13,673 127,112 Member bank reserves: With Federal Reserve Banks 28,542 +1,284 + 1,889 26,487 Currency and coin 8,895 -1,087 + 718 8,895 Total reserves held 4/ 37,506 + 197 + 2,582 35,451 Required reserves 37,278 + 135 + 2,351 37,278 Excess reserves 4/ 228 + 62 + 231 - 1,827 NOTE: A net of $92 million of surplus reserves were eligible to be carried forward from the week ended September 13, into the week ending September 20. On September 20, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $85,468 million, an increase of $203 million for the week. 1/ Net of $1,416 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,332 million was with foreign official and international accounts. Includes securities loaned~-fully secured by U.S. Government securities. 2/ Net of $1,776 million matched sale-purchase transactions outstanding at the end of the latest statement week^of which $1,189 million was with foreign official and international accounts. Includes $136 million securities 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. 4/ Adjusted to include $69 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 Sept. 20, Sept. 13, Sept. 21, A S S E TS 1978 1978 1977 Gold certificate account 1,668 -- + 73 Special Drawing Rights certif. acct 1,300 -- + 100 # Coin 276 + 9 15 Loans 2,032 +1,467 -- 667755 Acceptances—Bought outright 44 Held under repurchase agreements - 23 Federal Agency obligations—Bought outright 7,950 -- + 621 Held under repurchase agreements 1/ — - 46 -- U.S. Government securities: Bought outright—Bills 5,099 +1,757 + 6,058 Certificates Notes 53,229 + 3,806 Bonds + 3,082 Total bought outright 2/ 109,824 +1,757 +12,946 Held under repurchase agreements 1/ - 908 Total U.S. Government securities 109,824 + 849 +12,946 Total loans and securities 119,806 +2,247 +12,888 Cash items in process of collection (2,326) 13,905 + 803 + 3,144 Bank premises 394 + 1 + 16 Other assets 3/ 1,967 - 56 - 351 TOTAL ASSETS (2,326) 149,316 +3,004 +15,855 L I A B I L I T I ES Federal Reserve notes 97,040 - 534 + 9,455 Deposits: Member bank-reserves account 26,487 -2,939 + 1,466 U.S. Treasury—general account 12,997 +5,117 + 3,194 Foreign 337 + 52 + 88 Other 4/ 660 + 68 97 Total deposits 40,481 +2,298 + 4,651 Deferred availability cash items (2,326) 7,124 + 388 + 473 Other liabilities and accrued dividends 2,126 + 696 + 1,095 TOTAL LIABILITIES (2,326) 146,771 +2,848 +15,674 C A P I T AL A C C O U N TS Capital paid in 1,059 1 + 47 Surplus 1,029 _. + 46 Other capital accounts 457 + 157 + 88 * Figures in parentheses are the eliminations made in the consolidating process. JL/ 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 $1,776 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $136 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 institu tions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES, September 20, 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 1,994 -- 3,826 -1,658 54 + 8 16 days to 90 days 38 — 22,738 +1,659 340 - 54 91 days to 1 year — 29,0.73 + 848 1,467 — Over 1 year to 5 years — 30,959 -- 3,619 — Over 5 years to 10 years — 13,521 — 1,609 — Over 10 years — 9^707 — 861 -- Total 2,032 109,824 + 849 7,950 46" 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 20, 1978 New Phila- Cleve- Rich St. Minne- Kansas f* San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas I Francisco (In millions of dollars) A S S E TS 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 276 16 22 13 39 23 28 19 20 9 42 15 30 Loans Acceptances: 2,032 39 74 29 24 51 115 1,068 84 49 106 170 223 Bought outright — — -- -- -- -- -- -- -~ -- "- -- -- Held under repurchase agreements -- -- -- -- -- -- -~ -~ -" -" -- -- •*" 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/ -- — — — -- — -- -- -- -- -- -- U.S. Government securities: Bought outright— Bills 45,099 2,099 10,970 2,258 3,753 3,693 2,040 7,193 1,842 1,083 1,848 2,341 5,979 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 2,797 576 957 941 520 1,833 469 276 471 597 1,524 Total bought outright 2/ 109,824 5,111 26,716 5,500 9,140 8,992 4,968 17,515 4,485 2,636 4,500 5,701 14,560 Held under repurchase agreements 111/// ... -- — _-. — -- — -- — -- .— — — -- Total U.S. Government securities 109,824 5,111 26,716 5,500 9,140 8,992 4,968 17,515 4,485 2,636 4,500 5,701 14,560 Total loans and securities 119,806 5,520 28,724 5,927 9,826 9,694 5,442 19,851 4,893 2,876 4,932 6,284" 15,837 Cash items in process of collection 16,231 445 1,997 491 812 2,650 1,723 1,931 737 779 1,469 1,018 2,179 Bank premises 394 106 10 55 23 82 20 16 13 29 19 12 9 Other assets V 1,967 124 484 87 135 146 118 259 70 85 68 98 293 Interdistrict settlement account -0- - 20 + 590 - 297 • - 954 - 392 - 240 •+ 252 - 90 + 301 + 424 + 426 TOTAL 151,642 6,918 35,460 6,943 11,868 12,731 7,508 23,814 6,506 3,947 7,304 8,417 20,226 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. 27 Net of $1,776 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $136 million securities loaned--fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 20, 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 97,040 5,038 25,204 4,917 8,200 8,593 3,225 16,308 4,168 1,826 4,007 4,525 11,029. Deposits: Member bank reserves 26,487 540 5,062 1,005 1,530 1,208 1,991 4,150 947 806 1,443 1,976 5,829 U.S. Treasury--general account 12,997 877 2,651 552 1,374 535 667 1,897 678 635 645 1,071 1,415 Foreign 337 8 1/ 132 12 23 15 21 42 9 8 12 16 39 Other 2/ 660 1 529 * 1 24 59 10 13 2 2 9 10 Total deposits 40,481 1,426 8,374 1,569 2,928 1,782 2,738 6,099 1,647 1,451 2,102 3,072 7,293 Deferred availability cash items 9,450 304 883 278 402 2,027 983 795 546 561 1,026 602 1,043 Other liabilities and accrued dividends 2,126 64 343 70 121 179 384 223 62 35 64 75 506 TOTAL LIABILITIES 149,097 6,832 34,804 6,834 11,651 12,581 7,330 23,425 6,423 3,873 7,199 8,274 19,871 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 457 21 114 21 39 39 20 72 18 11 17 24 61 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 151,642 6,918 35,460 6,943 11,868 12,731 7,508 23,814 6,506 3,947 7,304 8,417 20,226 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 109,223 5,760 27,185 5,929 8,734 9,427 4,586 17,649 4,650 2,342 4,695 5,357 12,909 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 1,627 37 74 29 24 47 111 701 84 45 96 159 220 US, Government securities 94,628 4,996 23,478 5,233 7,677 8,290 3,906 14,970 4,045 2,038 4,126 4,632 11,237 a Total collateral 109,223 5,760 27,185 5,929 8,734 9,427 4,586 17,649 4,650 2,342 4,695 5,357 12,909 1/ After deducting $205 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. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis