H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and •.ff^itV*- Condition Statement of F.R. Banks H.4.1 For immediate release November 16, 1978 Averages of daily figur es Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Nov. 15, Nov. 8, 1 Nov. 16, Nov. 15, and related items 1978* 1978 1 1977 1978* Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 1/ 109,186 -2,984 +14,267 2/ 108,114 Held under repurchase agreements — - 452 — — ; Federal Agency obligations-- Bought outright 7,932 — + 603 7,932 Held under repurchase agreements -- 77 -" -- Acceptances— Bought outright Held under repurchase agreements — - 119 — — Loans-- Total member bank borrowing 632 - 66 + 98 1,257 Includes seasonal borrowing of: 189 1 + 106 179 Other borrowing Float 6,291 +1,912 + 1,206 7,678 Other F.R. assets 3,102 - 159 + 595 2,514 Total Reserve Bank credit 127,144 -1,943 +16,770 127,495 Gold Stock 11,642 10 + 47 11,642 Special Drawing Rights certif. acct. 1,300 -- + 100 1,300 Treasury currency outstanding 11,768 + 10 + 461 11,778 151,854 -1,943 +17,378 152,215 Currency in circulation ** 110,758 + 930 + 9,875 111,315 Treasury cash holdings ** 305 + 23 113 310 Treasury deposits with F.R. Banks 8,092 -2,999 + 6,302 7,557 Foreign deposits with F.R. Banks 273 21 56 313 Other deposits with F.R. Banks 521 25 54 448 Other F.R. liabilities and capital 3,995 + 94 + 478 4,051 123,944 -1,998 +16,431 123,994 Member bank reserves: With Federal Reserve Banks 27,910 + 55 + 947 28,221 Currency and coin 10,134 + 64 + 943 10,134 Total reserves held 3/ 38,126 + 127 + 1,905 38,437 Required reserves 37,763 + 161 + 1,959 37,763 Excess reserves 3/ 363 34 54 674 NOTE: A net of $132 million of surplus reserves were eligible to be carried forward from the week ended November 8, into the week ending November 15. On November 15, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $94,738 million, an increase of $1,982 million for the week. 1/ Net of $2,505 million, daily average, matched sale-purchase transactions out standing during the latest statement week, of which $1,772 million was with foreign official and international accounts. Includes securities loaned-fully secured by U.S. Government securities. 2/ Net of $3,223 million matched sale-purchase transactions outstanding at the end of the latest statement week,of which $2,251 million was with foreign official and international accounts. Includes $233 million securities loaned—fully secured by U.S. Government securities. y Adjusted to include $82 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Richmond, Minneapolis, and San Francisco 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 November 15, Nov. 8, Nov. 16, A S S E TS 1978 ** 1978 1977 Gold certificate account 11,642 7 + 47 Special Drawing Rights certif. acct. 1,300 — + 100 Coin 296 2 + 1 Loans 1,257 + 474 + 888 Acceptances—Bought outright Held under repurchase agreements Federal Agency obligations—Bought outright 7,932 603 Held under repurchase agreements J-/ U.S. Government securities: Bought outright—Bills 41,831 + 861 +10,243 Certificates Notes 54,526 + 4,910 Bonds 11,757 + 3,016 Total bought outright 2/ 108,114 + 861 +18,169 Held under repurchase agreements J7 Total U.S. Government securities 108,114 + 861 +18,169 Total loans and securities 117,303 +1,335 +19,660 Cash items in process of collection (2,293) 15,598 +3,714 718 Bank premises 396 — + 15 Other assets 3/ 2^118 -L,6q_8 + 450 TOTAL ASSETS (2,293) 148,653 +3,432 +19,555 L I A B I L I T I ES Federal Reserve notes 100,143 + 672 + 9,581 Deposits: Member bank-reserves account 28,221 +1,924 + 3,882 U.S. Treasury--general account 7,557 - 432 + 6,358 Foreign 313 + 64 + 45 Other 448 - 204 46 Total deposits 36,539 +1,352 +10,239 Deferred availability cash items (2,293) 7,920 +1,270 - 540 Other liabilities and accrued dividends 1,585 12 + 114 TOTAL LIABILITIES (2,293) 146,187 +3,282 +19,394 C A P I T AL A C C O U N TS Capital paid in 1,070 + 1 + 47 Surplus 1,029 — + 46 Other capital accounts 367 + 149 + 68 * Figures in parentheses are the eliminations made in the consolidating process ** Estimated (Richmond, Minneapolis and San Francisco Districts). \J 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 $3,223 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $233 million securities loanedfully secured by U.S. Government securities. _3/ Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. November 15, 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 i ances Holdings Weekly Holdings jWeekly changes [changes Within 15 days 1,197 3,059 -2,899 94 +94 16 days to 90 days 60 18,073 + 210 292 -94 91 days to 1 year 30,655 +2,548 1,503 -- Over 1 year to 5 years 31,205 - 433 3,663 — Over 5 years to 10 years 14,554 + 835 1,520 — Over 10 years 10,568 + 600 860 "* *" Total 1,257 108,114 + 861 7,932 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 15, 1978 New Fhila- Cleve- Rich St. Minne- Kansas San * Total 1 Boston York delnhia land 1 mond* Atlanta Chicago Louis apolis * Citv Dallas Francisco ( (In millions of dollars) A S S E TS Gold certificate account 11,642 660 3,277 598 921 974 518 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 296 18 21 14 37 23 34 18 20 11 42 18 40 Loans 1,257 65 743 13 11 75 67 95 9 20 103 44 12 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 41,831 1,947 10,176 2,095 3,482 3,425 1,893 6,671 1,708 1,004 1,714 2,171 5,545 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 V 108,114 5,031 26,300 5,415 8,998 8,853 4,891 17,242 4,415 2,594 4,430 5,612 ^14,333 Held under repurchase agreements J7 — — -- — -- -- -~ -- -- -- _c= -- -- Total U.S. Government securities 108,114 5,031 26,300 5,415 8 3 998 8,853 4,891 17,242 4,415 2,594 4,430 5,612 14,333 Total loans and securities 117,303 5,465 28,973 5,825 9,669 9,577 5,317 18,602 4,748 2,804 4,858 6,068 15,397 Cash items in process of collection 17,891 528 3,597 475 933 2,375 2,455 2,037 1,119 579 1,549 1,211 1,033 Bank premises 396 106 10 55 23 83 21 16 13 29 19 12 9 Other assets V 2,118 72 468 74 119 207 113 221 58 70 65 169 482 Interdistrict settlement account -0- 20 + 491 - 112 - 617 - 207 -1,528 - 367 7 + 27 + 157 - 136 +2,319 TOTAL 150,946 6,896 37,167 6,998 11,197 13,148 6,981 22,505 6,472 3,779 7,163 7,908 20,732 U 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 outstnading at the end of the latest statement week. II Net of $3,223 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $233 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. * Estimated (Richmond, Minneapolis and San Francisco Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER I)f, 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 100,143 5,163 25,806 5,111 8,444 8,984 3,509 16,652 4,342 1,836 4,119 4,773 11,404 Deposits: Member bank reserves 28,221 929 7,198 1,017 1,519 1,248 1,705 3,587 1,002 658 1,360 1,782 6,216 U.S. Treasury—general account 7,557 338 1,701 446 465 706 548 668 397 557 395 408 928 Foreign 313 8 1/ 109 12 23 15 21 42 8 8 12 16 39 Other 2/ 448 1 334 2 17 58 7 3 2 2 11 11 Total deposits 36,539 1,276 9,342 1,475 2,009 1,986 2,332 4,304 1,410 1,225 1,769 2,217 7,194 Deferred availability cash items 10,213 307 992 230 409 1,903 889 933 578 610 1,111 693 1,558 Other liabilities and accrued dividends 1,585 69 386 78 125 138 77 239 62 35 61 83 232 TOTAL LIABILITIES 148,480 6,815 36,526 6,894 10,987 13,011 6,807 22,128 6,392 3,706 7,060 7,766 20,388 CAPITAL ACCOUNTS Capital paid in 1,070 33 280 44 92 56 80 162 33 32 45 63 150 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Ofhpr capital accounts 367 16 94 16 31 26 16 58 15 10 15 21 49 TOTAL LIABILITIES AND 150,946 1 6,896 37,167 6,998 11,197 13,148 6,981 22,505 6,472 3,779 7,163 7,908 20,732 CAPITAL ACCOUNTS FEDERAL RESERVE AGENTS' jA CCOUNTS F.R, note8 outstanding 111,759 6,141 27,954 6,143 9,013 9,652 4,594 17,909 4,845 2,355 4,720 5,613 12,820 Collateral for F.R. notes: Gold certificate account 11,642 660 3,277 598 921 974 518 1,763 466 231 425 509 1,300 Special Drawing Rights certif. aacccctt.. 1,300 67 330 69 112 116 51 215 55 28 48 57 152 Eligible paper 682 2/ 65 240 y t 13 11 71 51 90 9 12 77 31 12 U.S. Government securities 98,135 -5,349 24,107 5,463 7,969 8,491 3,974 15.841 4,315 2,084 4,170 5,016 11,356 Total collateral 111,759 6,141 27,954 6,143 9,013 9,652 4,594 17,909 4,845 2,355 4,720 5,613 12,820 1/ After deducting $204 million participations of other Federal Reserve Banks. 2/ Includes securities borrowed from other Reserve Banks. * Less than $500,000. ** Estimated (Richmond, Minneapolis, and San Francisco Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis