H.4.1 Factors Affecting Reserve Balances of Depository Institutions

,-.&&?a& FEDERAL RESERVE Factors Affecting Bank Reserves and '••f'SuK^ Condition Statement of F.R. Banks H.4.1 For immediate release November 9, 1978 Averages of daily figur es Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Nov. 8, Nov. 1, 1 Nov. 9, Nov. 8, and related items 1978* 1978 | 1977 1978 Reserve Bank credit: (In millions of do llars) U.S. Government securities— Bought outright--System account 1/ 112,170 -1,942 +16,974 2/ 107,253 Held under repurchase agreements 452 -1,130 + 452 , Federal Agency obligations-- Bought outright 7,932 5 + 603 1 7,932 Held under repurchase agreements 77 - 377 + 77 -- Acceptances— Bought outright Held under repurchase agreements 119 - 138 + 119 " Loans-- Total member bank borrowing 698 - 611 189 783 Includes seasonal borrowing of: 190 - 44 + 103 174 Other borrowing Float 4,653 - 302 + 1,036 6,170 Other F.R. assets 3,128 + 190 + 662 3,185 Total Reserve Bank credit 129,227 -4,318 +19,730 125,323 Gold Stock 11,652 3 + 57 11,649 Special Drawing Rights certif. acct. 1,300 -- + 100 1,300 Treasury currency outstanding 11,758 + 7 + 457 11,761 153,937 -4,313 +20,344 150,033 Currency in circulation ** 109,813 + 884 + 9,927 110,617 Treasury cash holdings ** 296 + 5 122 310 Treasury deposits with F.R. Banks 11,091 -4,017 + 8,162 7,989 Foreign deposits with F.R. Banks 294 + 9 + 5 249 Other deposits with F.R. Banks 546 4 25 652 Other F.R. liabilities and capital 3,902 - 670 + 701 3,918 125,941 -3,793 +18,648 123,735 Member bank reserves: With Federal Reserve Banks 27,995 - 521 + 1,694 26,297 Currency and coin 10,070 + 221 + 888 1 10,070 Total reserves held 3/ 38,139 - 297 + 2,588 36,441 Required reserves 37,602 - 696 +2,206 37,602 Excess reserves 3/ 537 + 399 + 382 - 1,161 NOTE: A net of $75 million of surplus reserves were eligible to be carried forward from the week ended November 1, into the week ending November 8. On November 8, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $92,756 million, an increase of $953 million for the week. 1/ Net of $883 million, daily average, matched sale-purchase transactions out standing during the latest statement week, of which $442 million was with foreign official and international accounts. Includes securities loaned-fully secured by U.S. Government securities. 2/ Net of $5,007 million matched sale-purchase transactions, outstanding at the end of the latest statement week of which $1,917 million was with foreign official and international accounts, Includes $212 million securities loaned—fully secured by U.S. Government securities. 3/ Adjusted to include $74 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Chicago and Kansas City 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 FEDERAL RESERVE BANKS ''In millions of dollars) Wednesday . Change Nov. 8, Nov. 1, Nov. ~~T, A S S E TS 1978** 1978 1977 Gold certificate1, account 11,649 6 + 54 Special Drawing Rights certif. acct. 1,300 -- + 100 Coin 298 -- + 4 Loans 783 -1,005 + 198 Acceptances--Bought outright -« -- -- Held under repurchase agreements -- - 405 — Federal Agency obligations—Bought outright 7,932 -- + 603 Held under repurchase agreements \J -- -1,019 -- U.S. Government securities: Bought outright--Bills 40,970 -4,615 + 7,656 Certificates Notes 54,526 + 4,670 Bonds 11,757 + 3,256 Total bought outright 2/ 107,253 -4,615 +15,582 Held under repurchase agreements 1/ -2,676 Total U.S. Government securities 107,253 -7,291 +15,582 Total loans and securities 115,968 -9,720 +16,383 Cash items in process of collection (2,265) 12,842 - 167 + 1,800 Bank premises 396 + 1 + 15 Other assets 3/ 2,789 - 32^ + 656 TOTAL ASSETS (2,265) 145,242 -9,924 +19,012 L I A B I L I T I ES Federal Reserve notes 99,465 +1,129 + 9,261 Deposits: Member bank-reserves account 26,297 -3,871 + 2,517 U.S. Treasury--general account 7,989 -6,333 + 5,857 Foreign 249 + 5 65 Other 652 + 79 62 Total deposits 35,187 -10,120 + 8,247 Deferred availability cash items (n 265) 6,672 - 276 + 1,008 Other liabilities and accrued dividends 1,602 - 81 + 376 TOTAL LIABILITIES (2,265) 142,926 -9,348 +18,892 C A P I T AL A C C O U N TS Capital paid in 1,069 + 1 + 46 Surplus 1,029 — + 46 Other capital accounts 218 - 577 + 28 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (Chicago and Kansas City 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 $5,007 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $212 million securities loaned-fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES, November 8, 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 704 5,958 -2,708 -- -1,019 16 days to 90 days 79 17,863 -2,486 386 + 17 91 days to 1 year 28,107 -2,097 1,503 17 Over 1 year to 5 years 31,638 -- 3,663 Over 5 years to 10 years 13,719 -- 1,520 Over 10 years 9,968 -- 860 Total 783 107,253 -7,291 7,932 -1,019 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 NOVEMBER 8, 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 11,649 660 3,283 598 921 974 519 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 298 19 19 14 36 23 36 19 20 11 43 18 40 Loans 783 56 35 8 3 39 96 101 33 36 94 82 200 Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations— Bought outright 7,932 369 1,930 397 660 649 359 1,265 324 190 325 412 1,052 Held under repurchase agreements — -- -- -- — -- -- -- — -- -- -- U.S. Government securities: Bought outright— Bills 40,970 1,907 9,967 2,052 3,410 3,354 1,853 6,534 1,673 983 1,679 2,127 5,431 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/ 107,253 4,991 26,091 5,372 8,926 8,782 4,851 17,105 4,380 2,573 4,395 5,568 4/14,219 Held under repurchase agreements -- -- -- -- — -- -- -- -- -- -• -- -- Total U.S. Government securities 107,253 4,991 26,091 5,372 8,926 8,782 4,851 17,105 4,380 2,573 4,395 5,568 14,219 Total loans and securities 115,968 j 5,416 28,056 5,777 9,589 9,470 5,306 18,471 4,737 2,799 4,814 6,062 15,471 Cash items in process of collection 15,107 633 2,302 599 764 2,277 1,936 1,718 677 795 1,452 950 1,004 Bank premises 396 106 10 55 24 83 20 16 13 29 19 12 9 Other assets .3/ 2,789 j 116 580 110 186 185 406 325 105 63 95 138 480 Interdistrict settlement account -0- - 502 +3,727 - 145 - 619 + 680 -1,318 - 460 + 216 - 273 + 173 - 255 -1,224 TOTAL | 147,507 6,515 38,307 7,077 11,013 13,808 6,956 22,067 6,289 3,683 7,069 7,491 17,232 * Estimated (Chicago and Kansas City 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 $5,007 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $212 million securities loaned--fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. 4/ Includes securities loaned to other Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 8, 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 E S. Federal Reserve notes 99,465 5,109 25,687 5,069 8,362 8,916 3,499 16,510 4,318 1,812 4,115 4,775 11,293 Deposits: Member bank reserves 26,297 428 9,569 1,081 1,357 1,041 1,469 3,729 535 629 1,083 1,460 3,916 U.S. Treasury—general account 7,989 537 935 359 580 1,739 518 374 774 499 450 484 740 Foreign 249 8 1/ 45 12 23 15 21 42 8 8 12 16 39 Other 652 1 533 * 2 20 53 4 1 1 2 5 30 Total deposits 35,187 974 11,082 1,452 1,962 2,815 2,061 4,149 1,318 1,137 1,547 1,965 4,725 Deferred availability cash items 8,937 294 593 390 377 1,823 1,156 835 430 630 1,250 543 616 Other liabilities and accrued dividends 1,602 64 341 70 114 127 72 221 149 35 61 74 274 TOTAL LIABILITIES 145,191 6,441 37,703 6,981 10,815 13,681 6,788 21,715 6,215 3,614 6,973 7,357 16,908 CAPITAL ACCOUNTS Capital paid in 1,069 33 280 44 92 56 80 162 33 32 45 62 150 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 218 9 57 8 19 16 10 33 9 6 8 14 29 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 147,507 6,515 38,307 7,077 11,013 13,808 6,956 22,067 6,289 3,683 7,069 7,491 17,232 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 111,296 6,087 27,744 6,132 8,902 9,601 4,658 17,930 4,739 2,355 4,681 5,628 12,839 Collateral for F.R. notes: Gold certificate account 11,649 660 3,283 598 921 974 519 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 587 2/ 56 35 2/ 8 3 34 79 99 24 28 66 66 89 U.S. Government securities 97,760 £/5,304 24,096 ^5,457 7,866 8,477 4,009 15.853 4.194 2,068 4,142 4,996 11,298 Total collateral 111,296 6,087 27,744 6,132 8,902 9,601 4,658 17,930 4,739 2,355 4,681 5,628 12,839 1_/ After deducting $204 million participations of other Federal Reserve Banks. l_l Includes securities borrowed from other Reserve Banks. * Less than $500,000. ** Estimated (Chicago and Kansas City Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis