H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and ?***«&?:•. Condition Statement of F.R. Banks H.4.1 For immediate release September 28, 1978 Averages of daily figures Member bank reserves, Week ended Change fr<D m week ended Wednesday Reserve Bank credit, Sept. 27, Sept. 20, I Sept. 28, Sept. 27, and related items 1978* 1978 1 1977 1978* Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 1/ 112,330 +2,498 +12,976 |2/ 113,259 Held under repurchase agreements 1,420 +1,420 - 2,086 3,104 Federal Agency obligations-- -- Bought outright 7,950 + 621 7,950 Held under repurchase agreements 970 + 970 + 745 1,188 Acceptances-- — -- _._ Bought outright 4 Held under repurchase agreements 570 + 570 + 312 753 Loans-- Total member bank borrowing 1,559 + 636 + 841 1,157 Includes seasonal borrowing of: 205 + 16 + 90 208 Other borrowing Float 5,320 - 483 + 2,408 5,264 Other F.R. assets 2,299 86 - 511 2,330 Total Reserve Bank credit 132,419 +5,525 +15,303 135,005 Gold Stock 11,668 -- + 73 11,668 Special Drawing Rights certif. acct. 1,300 — + 100 1,300 Treasury currency outstanding 11,692 + 9 + 450 11,695 157,079 +5,534 +15,925 159,668 Currency in circulation ** 107,642 - 485 + 9,928 107,883 Treasury cash holdings ** 309 6 122 320 Treasury deposits with F.R. Banks 15,429 +5,932 + 3,340 13,543 Foreign deposits with F.R. Banks 271 28 75 253 Other deposits with F.R. Banks V 579 - 145 24 559 Other F.R, liabilities and capital 4,286 + 240 + 664 4,320 128,517 +5,509 +13,712 126,878 Member bank reserves: With Federal Reserve Banks 28,562 + 25 + 2,213 32,789 Currency and coin 9,818 + 923 + 698 9,818 Total reserves held 4/ 38,448 + 947 + 2,834 ! 42,675 Required reserves 38,219 + 941 + 2,837 38,219 Excess reserves 4/ 229 + 6 3 4,456 NOTE: reserves were eligible to be carriec forward from the week ended September 20, into the week ending September 27. On September 27, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $85,412 million, a decrease of $56 million for the week. 1/ Net of $1,344 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,167 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. Government securities. 2/ Net of $1,092 million matched sale-purchase transactions outstanding at the end of the latest statement week»of which $1,092 million was with foreign official and international accounts. Includes $219 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. Adjusted to include $68 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Cleveland and Richmond Districts). 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. 27, Sept. 20, Sept. 28, A S S E TS ** 1978 1978 1977 Gold certificate account 11,668 -- + 73 Special Drawing Rights certif. acct. 1,300 -- + 100 Coin 279 + 3 - 15 Loans 1,157 - 875 - 113355 Acceptances--Bought outright 44 Held under repurchase agreements 753 + 753 + 332211 Federal Agency obligations—Bought outright 7,950 -- + 621 Held under repurchase agreements J7 1,188 +1 ,188 + 837 U.S. Government securities: Bought outright—Bills 47,783 +2 ,684 + 6 ,025 Certificates Notes 53,859 + 630 + 4,436 Bonds 11,617 + 121 + 3,203 Total bought outright 113,259 +3,435 +13,664 Held under repurchase agreements 1/ 3,104 +3,104 - 1,576 Total U.S. Government securities 116,363 +6,539 +12,088 Total loans and securities 127,411 +7,605 +13,728 Cash items in process of collection (2,282) 11,824 -2,081 + 335 Bank premises 396 + 2 + 18 Other assets 3/ 1^934 33 690 TOTAL ASSETS (2,282) 154,812 +5,496 +13,549 L I A B I L I T I ES Federal Reserve notes 96,788 - 252 + 9,210 Deposits: Member bank-reserves account 32,789 +6,302 + 1,010 U.S. Treasury-general account 13,543 + 546 + 2,346 Foreign 253 - 84 47 Other 4/ 559 - 101 210 Total deposits 47,144 +6,663 + 3,099 Deferred availability cash items (2,282) 6,560 - 564 + 616 Other liabilities and accrued dividends 1,697 - 429 + 495 TOTAL LIABILITIES (2,282) 152,189 +5,418 +13,420 C A P I T AL ACCOUNTS Capital paid in 1,062 + 3 + 49 Surplus 1,029 -- + 46 Other capital accounts 532 + 75 + 34 Figures in parentheses are the eliminations made in the consolidating process. Estimated (Cleveland and Richmond 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 $1,092 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $219 million securities loaned-fully secured by U.S. Government securities. 1/ 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 27, 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 1,115 753 8,008 +4,278 1,242 +1,188 16 days to 90 days 42 23,444 + 611 340 91 days to 1 year 30,142 +1,068 1,467 Over 1 year to 5 years 31,309 + 350 3,619 Over 5 years to 10 years 13,632 + 111 1,609 Over 10 years 9,828 + 121 861 Total 1,157 753 116,363 +6,539 9,138 +1,188 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 27, 1978 New Phila Cleve Rich St. Minne Kansas San Total I Boston York delphia land * mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 11,668 660 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 ! 279 16 21 13 39 23 30 21 21 8 43 15 29 Loans 1,157 21 140 27 26 180 207 136 91 55 76 179 19 Acceptances: _- -- — -- -- -- -- -- -- -- _. -- -- Bought outright Held under repurchase agreements 753 -- 753 -" -- -- -- -- -- -- -- -- -- 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/ 1,188 -- 1,188 -- -- -- . -_ -- -- -- -- -- -- U.S. Government securities: Bought outright— Bills 47,783 2,224 11,624 2,393 3,977 3,913 2,162 7,620 1,951 1,146 1,958 2,480 6,335 Certificates Notes 53,859 2,506 13,102 2,698 4,482 4,410 2,436 8,590 2,199 1,293 2,207 2,796 7,140 Bonds 11,617 541 2,826 582 967 951 525 1,853 474 279 476 603 1,540 Total bought outright J7 113,259 5,271 27,552 5,673 9,426 9,274 5,123 18,063 4,624 2,718 4,641 5,879 15,015 Held under repurchase agreements •*•' 3,104 -- 3,104 -- -- -- -- -- -- -- -- -- -- Total U S. Government securities 116,363 5,271 30,656 5,673 9,426 9,274 5,123 18,063 4,624 2,718 4,641 5,879 15,015 Total loans and securities 127,411 5,662 34,671 6,098 10,114 10,105 5,689 19,467 5,039 2,964 5,043 6,471 16,088 CCaasshh iitteemmss iinn pprroocceessss ooff ccoolllleeccttiioonn 14,106 381 1,680 388 602 2,193 1,609 1,886 696 765 1,188 913 1,805 BBaannkk pprreemmiisseess 396 106 10 55 23 83 21 16 13 29 19 12 9 OOtthheerr aasssseettss 22// 1,934 90 454 97 157 146 129 253 75 47 73 105 308 IInntteerrddiissttrriicctt sseettttlleemmeenntt aaccccoouunntt -0- + 203 -2,246 - 328 - 381 - 746 - 836 + 154 + 237 84 + 605 + 982 +2,440 TOTAL 157,094 7,185 38,223 6,990 11,587 12,894 7,211 23,775 6,602 3,988 7,444 9,064 22,131 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 $1,092 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $219 million securities loaned--fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. * Estimated (Cleveland and Richmond Districts). 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 27, 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 ! 11,668 660 3,303 598 921 974 518 1,763 466 231 425 509 1,300 Special Drawing Rights certif. acct. I 1,300 67 330 69 112 116 51 215 55 28 48 57 152 Coin 279 16 21 13 39 23 30 21 21 8 43 15 29 Loans 1,157 21 140 27 26 180 207 136 91 55 76 179 19 Acceptances: Bought outright Held under repurchase agreements 753 753 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 U 1,188 1,188 U.S. Government securities: Bought outright— Bills 47,783 2,224 11,624 2,393 3,977 3,913 2,162 7,620 1,951 1,146 1,958 2,480 6,335 Certificates Notes 53,859 2,506 13,102 2,698 4,482 4,410 2,436 8,590 2,199 1,293 2,207 2,796 7,140 Bonds 11,617 541 2,826 582 967 951 525 1,853 474 279 476 603 1,540 Total bought outright V 113,259 5,271 27,552 5,673 9,426 9,274 5,123 18,063 4,624 2,718 4,641 5,879 15,015 Held under repurchase agreements *-' 3,104 3,104 Total U S Government spcurf t"f<*s 116,363 5,271 30,656 5,673 9,426 9,274 5,123 18,063 4,624 2,718 4,641 5,879 15,015 Total loans and securities 127,411 5,662 34,671 6,098 10,114 10,105 5,689 19,467 5,039 2,964 5,043 6,471 16,088 Cash items in process of collection 14,106 381 1,680 388 602 2,193 1,609 1,886 696 765 1,188 913 1,805 Bank premises 396 106 10 55 23 83 21 16 13 29 19 12 9 Other assets 3/ 1,934 90 454 97 157 146 129 253 75 47 73 105 308 -0-1 + 203 -2,246 - 328 - 381 - 746 - 836 + 154 + 237 84 + 605 + 982 +2,440 TOTAL 157,094 7,185 38,223 6,990 11,587 12,894 7,211 23,775 6,602 3,988 7,444 9,064 22,131 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 $1,092 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $219 million securities loaned--fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. Estimated (Cleveland and Richmond Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis