H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and •.f«s^v Condition Statement of F.R. Banks H.4.1 For immediate release October 5, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, October 4, Sept. 27, October 5, October 4, and related items 1978 1978 1977 1978 x Reserve Bank credit: (In millions of dollars) U.S. Government securities- Bought outright—System account 1/ 112,987 + 657 +13 ,244 \2/ 112,278 Held under repurchase agreements 2,056 + 636 - 697 182 Special Certificates — -- - 1 ,429 — Federal Agency oblications-- Bought outright 7,946 - 4 + 617 7,941 Held under repurchase agreements 743 - 227 + 472 79 Acceptances- Bought outright --. -- . 4 —- . Held under repurchase agreements 603 + 33 + 241 216 Loans— Total member bank borrowing 1,285 - 274 + 402 l 1,506 Includes seasonal borrowing of: 213 + 8 + 96 | 199 Other borrowing Float 4,825 - 512 + 1 ,559 6,622 Other F.R. assets 2,440 + 141 - 306 2,566 Total Reserve Bank credit 132,885 + 450 +14, 099 131,390 Gold Stock 11,668 + 73 11,668 Special Drawing Rights certif. acct. 1,300 + 100 1,300 Treasury currency outstanding 11,696 + 4 + 465 11,700 157,549 + 454 +14,737 156,058 Currency in circulation * 107,940 + 277 + 9,818 108,550 Treasury cash holdings * 320 + 20 - 113 320 Treasury deposits with F.R. Banks 15,138 - 291 + 2,516 12,162 Foreign deposits with F.R. Banks 294 + 23 33 272 Other deposits with F.R. Banks 3/ 640 + 61 90 545 Other F.R. liabilities and capital 4,224 - 61 + 648 3,904 128,556 + 29 +12,746 125,753 Member bank reserves: With Federal Reserve Banks 28,992 + 424 + 1,990 30,305 Currency and coin 9,913 + 95 + 923 9,913 Total reserves held 4/ 38,975 + 521 + 2,757 40,288 Required reserves 38,751 + 532 + 2,934 38,751 Excess reserves 4/ 224 11 177 1,537 NOTE: A net of $127 million of surplus reserves were eligible to be carried forward from the week ended September 27, into the week ending October 4. On October 4, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $85,479 million, an increase of $67 million for the week. 1/ Net of $1,673 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,522 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2/ Net of $2,794 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which $1,737 million was with foreign official and international accounts. Includes $152 million securities 1/ loaned—fully secured by U.S. Government securities. Includes $17 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal y Reserve Banks. Adjusted to include $70 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 ChaWnge , since Oct. 4, Sept Oct. 5, A S S E TS 1978 1978 1977 Gold certificate account 1,668 -- + 73 Special Drawing Rights certif. acct. 1,300 — j. mo Coin 282 + 3 - 15 Loans 1,506 + 349 + 11,,003399 Acceptances--Bought outright 44 Held under repurchase agreements 216 - 537 + 113322 Federal Agency obligations—Bought outright 7,941 9 + 612 Held under repurchase agreements 1/ 79 -1,109 - 53 U.S. Government securities: Bought outright--Bills 46,802 981 + 6,417 Certificates Notes 53,859 + 4,003 Bonds 11,617 + 3,116 Total bought outright 2/ 112,278 - 981 +13,536 Held under repurchase agreements 1/ 182 -2,922 - 1,080 Total U.S. Government securities 112,460 -3,903 +12,456 Total loans and securities 122,202 -5,209 +14,182 Cash items in process of collection (2,322) 13,470 +1,473 + 3,031 Bank premises 393 3 + 14 Other assets 3/ 2,173 + 239 166 TOTAL ASSETS (2,322) 151,488 -3^497 +17,219 L I A B I L I T I ES Federal Reserve notes 97,452 + 585 + 9,218 Deposits: Member bank-reserves account 30,305 -2,484 + 1,552 U.S. Treasury—general account 12,162 -1,381 + 5,641 Foreign 272 + 19 26 Other V 545 - 14 16 Total deposits 43,284 -3,860 + 7,151 Deferred availability cash items (2,322) 6,848 + 186 + 174 Other liabilities and accrued dividends 1,670 - 19 + 570 TOTAL LIABILITIES (2,322) 149,254 -3,108 +17,113 C A P I T AL A C C O U N TS Capital paid in 1,061 1 + 45 Surplus 1,029 -- + 46 Other capital accounts 144 - 388 + 15 * Figures in parentheses are the eliminations made in the consolidating process. \/ 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 $2,794 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $152 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, October 4, 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 I changes Within 15 days 1,207 216 3,914 -4,094 152 -1,090 16 days to 90 days 269 23,877 + 433 350 + 10 91 days to 1 year 30 29,952 - 190 1,429 - 38 Over 1 year to 5 years — 31,257 - 52 3,619 -- Over 5 years to 10 years -- 13,632 — 1,609 -- Over 10 years — 9,828 — 861 -- Total 1,506 216 112,460 -3,903 8,020 -1,118 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 October 4, 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 3,302 598 921 974 519 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 282 16 20 13 39 22 32 22 21 9 43 16 29 Loans 1,506 40 501 9 5 180 217 76 36 37 112 205 88 Acceptances: Bought outright — -- -- -- -- -- -- -- -" -- -- -- -- Held under repurchase agreements 216 -- 216 -- -- -- -- -- -- ~~ -- -~ -- Federal Agency obligations— Bought outright 7,941 370 1,932 398 661 650 359 1,266 324 191 325 412 1,053 Held under repurchase agreements V 79 -- 79 -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright— Bills 46,802 2,178 11,385 2,343 3,895 3,833 2,117 7,464 1,911 1,123 1,918 2,430 6,205 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 2/ 112,278 5,225 27,313 5,623 9,344 9,194 5,078 17,907 4,584 2,695 4,601 5,829 14,885 Held under repurchase agreements J7 182 -- 182 _- — -- -- -- -- -- -- • -- -- Total U.S. Government securities 112,460 5,225 27,495 5,623 9,344 9,194 5,078 17,907 4,584 2,695 4,601 " 5,829 14,885 Total loans and securities 122,202 5,635 30,223 6,030 10,010 10,024 5,654 19,249 4,944 2,923 5,038 6,446 16,026 Cash items in process of collection 15,792 591 1,832 509 934 2,390 1,839 1,966 682 811 1,307 867 2,064 Bank premises 393 106 10 55 22 82 20 16 13 29 19 12 9 Other assets 3/ 2,173 90 444 90 157 142 115 398 74 49 72 248 294 Interdistrict settlement account -0- - 24 +2,657 - 355 + 80 - 390 - 698 - 909 + 231 - 446 + 161 -{- 159 - 466 TOTAL 153,810 7,141 38,818 7,009 12,275 13,360 7,532 22,720 6,486 3,634 7,113 8,314 19,408 1/ Does not include U.S. Government and Federal Agency securities resold underm atched sale-purchase transactions to foreign official and international accounts, of which $ -0- million was outstanding at the end of the latest statementw eek. 2/ Net of $2,794 million matched sale-purchase transactions outstanding at thee nd of the latest statement week. Includes $152 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 OCTOBER 4, 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 97,452 5,047 25,090 4,900 8,185 8,715 3,422 16,211 4,240 1,799 4,077 4,657 11,109 Deposits: Member bank reserves 30,305 718 8,268 1,068 2,301 1,561 1,935 4,106 894 574 1,269 1,813 5,798 U.S. Treasury—general account 12,162 951 3,162 601 1,066 763 717 798 736 509 626 1,092 1,141 Foreign 272 9 1/ 67 12 23 15 21 42 8 8 12 16 39 Other 2/ 545 441 1 24 53 4 2 2 6 12 Total deposits 43,284 1,678 11,938 1,681 3,391 2,363 2,726 4,950 1,638 1,093 1,909 2,927 6,990 Deferred availability cash items 9,170 271 850 262 390 2,034 1,146 832 477 639 975 527 767 Other liabilities and accrued dividends 1,670 73 361 72 119 128 73 387 61 36 59 76 225 TOTAL LIABILITIES 151,576 7,069 38,239 6,915 12,085 13,240 7,367 22,380 6,416 3,567 7,020 8,187 19,091 CAPITAL ACCOUNTS Capital paid in 1,061 33 275 44 91 56 80 161 33 32 45 61 150 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 144 7 37 6 12 9 7 22 5 4 5 8 22 TOTAL LIABILITIES AND 153,810 7,141 38,818 7,009 12,275 13,360 7,532 22,720 6,486 3,634 7,113 8,314 19,408 CAPITAL ACCOUNTS FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 109,919 5,772 27,391 5,949 8,695 9,473 4,708 17,666 4,715 2,343 4,714 5,606 12,887 Collateral for F.R. notes: Gold certificate account 11,668 660 3,302 598 921 974 519 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 1,403 40 501 8 5 177 167 64 35 29 100 189 88 U.S. Government securities 95,548 5,005 23,258 5,274 7,657 8,206 3,971 15,624 4,159 2,055 4,141 4,851 11,347 Total collateral 109,919 5,772 27,391 5,949 8,695 9,473 4,708 17,666 4,715 2,343 4,714 5,606 12,887 Xj 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