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 October 19, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Oct. 18, Oct . 11, 1 Oct. 19, Oct. 18, and related items 1978 1978 1 1977 1978 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 1/ 113,848 + 337 +17,446 2/ 112,522 Held under repurchase agreements 359 - 430 + 359 — Federal Agency obligations-- Bought outright 7,941 + 612 1 7,941 Held under repurchase agreements 413 + 135 + 413 — Acceptances— Bought outright -- -- 4 _._ Held under repurchase agreements 170 + 9 + 17a — Loans-- Total memher bank borrowing 1,249 + 10 - 612 1,660 Includes seasonal borrowing of: 220 + 11 + 106 220 Other borrowing Float 7,654 +2 ,316 + 3,257 7,637 Other F.R. assets 2,671 + 159 + 344 2,636 Total Reserve Bank credit 134,304 +2 ,536 +21,985 132,396 Gold Stock 11,656 - 12 + 61 11,655 Special Drawing Rights certif. acct. 1,300 — + 100 1,300 Treasury currency outstanding 11,729 + 26 + 458 11,735 158,990 +2 ,551 +22,605 157,086 Currency in circulation * 109,266 + 365 +10,072 109,359 Treasury cash holdings * 310 + 3 122 310 Treasury deposits with F.R. Banks 15,131 + 624 +10,427 15,348 Foreign deposits with F.R. Banks 283 - 64 44 252 Other deposits with F.R. Banks 585 + 26 32 554 Other F.R. liabilities and capital 4,208 + 310 + 782 4,253 129,783 +1 ,264 +21,083 130,076 Member bank reserves: With Federal Reserve Banks 29,207 +1 ,288 + 1,521 27,010 Currency and coin 9,509 - 553 + 894 9,509 Total reserves held 3/ 38,788 + 735 + 2,419 36,591 Required reserves 38,906 +1 ,237 + 2,621 38,906 Excess reserves 3/ 118 - 502 202 - 2,315 NOTE: A net of $205 million of surplus reserves were eligible to be carried forward from the week ended October 11, into the week ending October 18. On October 18, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $87,479 million, an increase of $782 million for the week. 1/ Net of $2,131 million, daily average, matched sale-purchase transactions out standing during the latest statement week, of which $1,367 million was with foreign official ajid international accounts. Includes securities loaned-fully secured by U.S. Government securities. 2/ Net of $3,457 million matched sale-purchase transactions outstanding at the end of the latest statement week>of which $1,726 million was with foreign official and international accounts. Includes $317 million securities loaned--fully secured by U.S. Government securities. 3/ Adjusted to include $72 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 October 18, Oct. n; Oct. 19, A S S E TS 1978 1978 1977 Gold certificate account 11,655 12 + 60 Special Drawing Rights certif. acct. * 1,300 -- + 100 Coin 291 + 4 - 12 Loans 1,660 4- 985 - 1,890 Acceptances—Bought outright - 4 Held under repurchase agreements _- - 611 Federal Agency obligations—Bought outright 7,941 -- 612 Held under repurchase agreements J7 -- -1,228 U.S. Government securities: Bought outright--Bills 46,239 -1,945 +10,318 Certificates Notes 54 ,526 + 667 + 4,670 Bonds 11 757 + 140 + 3,256 r Total bought outright 2/ 112, 522 -1,138 +18,244 Held under repurchase agreements 1/ -3,178 Total U.S. Government securities 112,522 -4,316 +18,244 Total loans and securities 122,123 -5,170 +16,962 Cash items in process of collection (2,444) 15,075 + 273 + 3,994 Bank premises 395 5 + 15 Other assets \j 2,241 + 81 + 316 TOTAL ASSETS (2,444) 153,080 -4,829 +21,435 Federal Reserve notes 98,225 - 230 + 9 ,506 Deposits: Member bank-reserves account 27,010 -4, 633 + 112 U.S. Treasury-general account 15,348 + 264 + 10 ,133 Foreign 252 - 48 + 9 Other 554 + 21 - 8 Total deposits 43,164 -4, 396 + 10 ,246 Deferred availability cash items (2,444) 7,438 - 347 + 896 Other liabilities and accrued dividends 1,685 - 22 + 588 TOTAL LIABILITIES (2,444) 150,512 -4, 995 +21 ,236 C A P I T AL ACCOUNTS Capital paid in 1,064 + 2 + 45 Surplus 1,029 -- + 46 Other capital accounts 475 + 164 + 108 * 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 $3,457 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $317 million securities loaned-fully secured by U.S. Government securities. _3/ Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. October 18, 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 obli%ati ons ances Holdings Weekly Holdings Weekly changes changes Within 15 days 1,579 -- 3,452 -4,609 111 -1,190 16 days to 90 days 81 -- 22,823 -1,629 312 - 38 91 days to 1 year -- -- 30,796 +1,187 1,472 -_ Over 1 year to 5 years -- -- 31,764 + 508 3,577 -- Over 5 years to 10 years -- -- 13,719 + 87 1,609 -- Over 10 years -- -- 9,968 + 140 860 __ Total 1,660 112,522 -4,316 7,941 -1,228 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 18, 1978 New Phila- Cleve- Rich St. Minne- Kansas San Total [ Boston York delphia land 1 mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 11,655 660 3,290 598 921 974 518 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 291 17 21 14 37 24 32 20 22 8 44 18 34 Loans 1,660 175 458 15 3 76 205 312 98 45 89 158 26 Acceptances: Bought outright -- — -- -- -- -- -- — -- -- -- -- -- Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- 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 1/ — — — -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright— Bills 46,239 2,152 11,248 2,316 3,848 3,786 2,092 7,374 1,888 1,110 1,894 2,401 6,130 Certificates -- -- -- -- -- -- _- -- -- -- -- -- -- Notes 54,526 2,537 13,264 2,731 4,538 4,465 2,466 8,696 2,227 1,308 2,234 2,831 7,229 Bonds 11,757 547 2,860 589 978 963 532 1,875 480 282 482 610 1,559 Total bought outright 2/ 112,522 5,236 27,372 5,636 9,364 9,214 5,090 17,945 4,595 2,700 4,610 5,842 14,918 Held under repurchase agreements 111/// -- -- — -- — _- -- -- -- -- -- -- -- Total U.S. Government securities 112,522 5,236 27,372 5,636 9 3 364 9,214 5,090 17,945 4,595 2,700 4,610 5,842 14,918 Total loans and securities 122,123 5,781 29,762 6,049 10,028 9,940 5,654 19,523 5,017 2,936 5,024 6,412 15,997 Cash items in process of collection 17,519 463 2,666 413 862 2,544 2,480 2,387 712 808 1,315 914 1,955 Bank premises 395 106 10 55 23 83 20 16 13 29 19 12 9 Other assets V 2,241 105 492 99 198 170 125 291 81 54 81 122 423 Interdistrict settlement account -0- + 247 +1,215 - 426 - 386 - 464 -1.310 -1,061 + 414 93 + 181 + 660 +1,023 155,524 7,446 37,786 6,871 11,795 13,387 7,570 23,154 6,780 4,001 7,137 8,704 20,893 TOTAL 2/ 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 $3,457 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $317 million securities loaned--fully secured by U.S. Government securities. V 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 18, 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 98,225 | 5,092 25,306 4,938 8,320 8,768 3,361 16,416 4,273 1,816 4,095 4,670 11,170 Deposits: Member bank reserves 27,010 981 5,155 915 1,483 1,214 2,008 3,597 926 717 1,385 2,079 6,550 U.S. Treasury—general account 15,348 895 4,620 579 1,235 954 775 1,533 966 675 456 1,135 1,525 Foreign 252 8 1/ 48 12 23 15 21 42 8 8 12 16 39 Other 554 * 449 * 1 21 55 4 1 3 2 8 10 Total deposits 43,164 1,884 10,272 1,506 2,742 2,204 2,859 5,176 1,901 1,403 1,855 3,238 8,124 Deferred availability cash items 9,882 310 1,167 . - 232 382 2,123 1,086 914 459 668 1,018 568 955 Other liabilities and accrued dividends 1,685 72 377 85 133 146 85 257 64 40 63 83 280 TOTAL LIABILITIES 152,956 7,358 37,122 6,761 11,577 13,241 7,391 22,763 6,697 3,927 7,031 8,559 20,529 CAPITAL ACCOUNTS Capital paid in 1,064 33 275 44 92 56 80 161 33 32 45 62 151 Surplus 1,029 : 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 475 23 122 22 39 35 21 73 18 11 18 25 68 TOTAL LIABILITIES AND 155,524 7,446 37,786 6,871 11,795 13,387 7,570 23,154 6,780 4,001 7,137 8,704 20,893 CAPITAL ACCOUNTS FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 110,387 5,813 27,543 6,039 8,845 9,489 4,606 17,793 4,734 2,367 4,695 5,560 12,90? Collateral for F.R. notes: Gold certificate account 11,655 660 3,290 598 921 974 518 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 1,576 175 457 15 2 72 183 308 92 39 68 139 26 U.S. Government securities 95,856 4.911 23.466 5,357 7,810 8,327 3.854 15,507 4,121 2,069 4,154 4,855 11,425 Total collateral 110,387 5,813 27,543 6,039 8,845 9,489 4,606 17,793 4,734 2,367 4,695 5,560 12,903 1/ After deducting $204 million participations of other Federal Reserve Banks. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis