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 November 24, 1978 Averages of daily figures Member, bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Nov. 22, Nov. 15, Nov. 23, Nov. 22, and related items 1978* 1978 1977 1978* Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright--Syste.m account 1/ 109,689 503 +14,275 12/ 110,878 Held under repurchase agreements 867 867 + 716 325 Federal Agency obligations-- Bought outright 7,932 + 603 7,932 Held under repurchase agreements 411 411 + 389 160 Acceptances-- Bought outright Held under repurchase agreements 455 455 429 383 Loans- Total member bank borrowing 605 27 - 274 939 Includes seasonal borrowing of: 183 6 + 98 180 Other borrowing Float 8,305 +2,073 + 3,050 7,283 Other F.R. assets 2,184 - 884 + 175 2,157 Total Reserve Bank credit 130,449 +3,398 +19,363 130,057 Gold Stock 11,642 — + 47 11,642 Special Drawing Rights certif. acct. 1,300 -- + 100 1,300 Treasury currency outstanding 11,787 + 19 + 465 11,799 155,178 +3,417 +19,976 154,798 Currency in circulation ** 111,213 + 438 +10,179 111,806 Treasury cash holdings ** 310 + 32 100 310 Treasury deposits with F.R. Banks 6,443 -1,649 + 4,686 6,153 Foreign deposits with F.R. Banks 286 + 13 — 285 Other deposits with F.R. Banks 529 + 8 + 11 565 Other F.R. liabilities and capital 4,285 + 277 + 627 4,284 123,065 - 882 +15,402 123,403 Member bank reserves: With Federal Reserve Banks 32,113 +4,299 + 4,572 31,395 Currency and coin 9,178 - 956 + 929 9,178 Total reserves held 3/ 41,368 +3,338 + 5,512 40,650 Required reserves 41,307 +3,544 + 5,440 41,307 Excess reserves 3/ 61 - 206 + 72 - 657 NOTE: A net of $110 million of surplus reserves were eligible to be carried forward from the week ended November 15, into the week ending November 22. On November 22, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $92,934 million, a decrease of $1,804 million for the week. 1/ Net of $3,015 million, daily average, matched sale-purchase transactions out standing during the latest statement week, of which $1,607 million was with foreign official and international accounts.. Includes securities loaned— fully secured by U.S. Government securities. 2/ Net of $1,999 million matched sale-purchase transactions outstanding at the end of the latest statement week,of which $1,242 million was with foreign official and international accounts. Includes $246 million securities loaned--fully secured by U.S. Government securities. 3/ Adjusted to include $77 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 Nov. 22, t Nov . 15, Nov. 23, A S S E TS 1978** ! 1978 1977 Gold certificate account 11,642 -- + 47 Special Drawing Rights certif. acct. 1,300 -- + 100 Coin 289 - 7 7 Loans 939 - 318 - 2,012 Acceptances—Bought outright Held under repurchase agreements 383 + 383 + 201 Federal Agency obligations—Bough*' outright 7,932 -- + 603 Held under repurchase agreements 1/ 160 + 160 + 5 U.S. Government securities: Bought outright--Bills 43,558 + 1 ,727 + 5,288 Certificates Notes 54,855 + 929 + 5,239 Bonds 12,465 + 108 + 3,724 Total bought outright */ 110,878 +2,764 +14,251 Held under repurchase agreements JV 325 + 325 735 Total U.S. Government securities 111,203 +3,089 +13,516 Total loans and securities 120,617 +3,314 +12,313 Cash items in process of collection (2,323) 14,831 -3,483 + 2,673 Bank premises 397 + 1 + 15 Other assets -3/ U760 z_ 120 + 77 TOTAL ASSETS (2,323) 150,836 295 +15,218 LIABILI1IIS Federal Reserve notes 100,606 + 535 + 9,739 Deposits: Member bank-reserves account 31,395 +3 ,174 141 U.S. Treasury—general account 6,153 -1 ,404 + 4,135 Foreign 285 - 28 + 16 Other 565 -1 ,760 34 Total deposits 38,398 - 18 + 3,976 Deferred availability cash items (2,323) 7,548 - 952 + 1,013 Other liabilities and accrued dividends 1,652 - 26 + 281 TOTAL LIABILITIES (2,323) 148,204 - 461 +15,009 C A P I T AL A C C O U N TS Capital paid In 1,073 + 3 + 49 Surplus 1,029 -- + 46 Other capital accounts 530 + 163 + 114 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (Cleveland and Richmond 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. J2/ Net of $1,999 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $246 million securities loaned-fully secured by U.S. Government securities. 3>/ Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION' OF LOANS AND SECURITIES. NOVEMBER 22, 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 878 383 5,386 +2 ,327 316 +222 16 days to 90 days 61 18,860 + 787 230 - 62 91 days to 1 year 29,732 - 923 1,503 -- Over 1 year to 5 years 31,833 + 628 3,663 _- Over 5 years to 10 years 14,717 + 163 1,520 -- Over 10 years 10,675 + 107 860 -- 939 383 111.203 +3.089 8.092 + 160 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 22, 1978 New Phila- Cleve Rich- St. Minne- Kansas San Total Boston York delphia land* 1 mond* Atlanta Chicago Louis apolis City Dallas Francisco (Tn millions of d ollars) A S S E TS Cold certificate account 11,642 760 3,177 598 ')21 974 518 1,763 466 231 425 509 1,300 pecial Drawing Rights certif. acct. 1,300 67 330 69 112 116 51 215 55 28 48 57 L52 Coin 239 J9 20 14 36 23 33 16 21 10 42 17 38 Loans 939 62 92 28 11 150 53 94 37 16 123 82 191 Acceptances: Bought outripht _- -- -- -- -- -- -- -- -- -- -- -- • .ltej.d under repurchase agreements 383 -- 3«3 -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 7,932 369 1,930 397 660 649 359 1,265 324 190 325 412 1,052 Hela under repurchase agreements 1/ 160 -- 160 -- -- -- -- -- -- -- -- -- _> U.S. Government securities: Bought outright-- Bills 43,558 2,027 10,596 2,182 3,626 3,566 1,970 6,946 1,779 1,046 1 ,784 2,261 ^,775 Certificates -- -- -- -- -- -- -- -- -- — -- -- ... Notes 54,855 2,553 13,344 2,747 4,565 4,492 2,481 8,749 2,240 1,316 2 ,248 2,848 7,2 72 Bonds 12,465 580 3,032 624 1,037 1.021 564 1,988 509 299 511 647 _i_6_53.. Total bought outright 2/ 110,878 5,160 26,972 5,553 9,228 9,079 5,015 17,683 4,528 2,661 4 ,543 5,736 -•'' .•4,700 Held under repurchase agreements 1/ 325 -- 325 -- -- -- -- -- -- -- -- __ -- Total U.S. Government securities 111,203 5,160 27,297 5,553 9,228 9,079 5,015 17,683 4,528 2,661 T ,543 5j_756 ~~U~f~)ij Total loans and securities 120,617 5,591 29,862 5,978 9,899 9,878 5,427 19,042 4,889 2,867 4 ,991 6,250 i5,P'J Cash items in process of collection 17,154 452 2,564 399 973 2,440 2,094 2,375 727 807 1, 414 860 2,04'.' Bank premises 397 106 10 55 24 83 21 16 13 29 19 12 Other assets _3«'' 1,760 81 429 89 140 136 163 239 64 51 79 117 Interdistrict settlement account -0- - 400 + 71 • 234 - 584 + 151 - 601 - 53 + 94 - 282 +_ 73 + 134 _T.L!:' • ' / : '". : TOTAL 153,159 6,676 36,463 6,968 11,521 13,801 7,706 23,613 6,329 3,741 7 ,091 7,956 1/ Does not include U.S. Government and Federal Agency securities resold under matched sale-purchase transactions to foreign official and international accoui;...., of which $-0- million was outstanding at the end of the latest statement week. 2/ Net of $1,999 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $246 million securities loaned--fuily secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. 4/ Includes securities loaned to other Reserve Banks. Estimated (Cleveland and Richmond Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 22, 1978 H.4.1(c) Phila St. Minne Kansas San Total Boston New York delphia Cleveland •k 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 100,606 5,200 25,757 5,108 8,351 9,102 3,677 16,736 4,341 1,812 4,175 4,785 11,562 Deposits: Member bank reserves 31,395 830 6,576 1,052 1,861 1,648 2,196 4,566 870 762 1,416 2,103 7.Si.:? U.S. Treasury—general account 6,153 213 1,016 387 406 691 361 756 480 333 358 266 •: • ;•>.". Foreign 285 8 1/ 81 12 23 15 21 42 8 8 12 16 Other 565 1 467 1 16 52 4 2 2 2 1.3 Total deposits 38,398 1,052 8,140 1,451 2,291 2,370 2,630 5,368 1,360 1,105 1,788 2,385 ;>,458 Deferred availability cash items 9,871 261 1,480 220 520 2,043 1,125 857 478 706 955 553 673 Other liabilities and accrued dividends 1,652 73 403 77 136 135 93 250 64 42 63 82 234 TOTAL LIABILITIES 150,527 6,586 35,780 6,856 11,298 13,650 7,525 23,211 6,243 3,665 6,981 7,805 20,927 CAPITAL ACCOUNTS Capital paid in 1,073 33 280 44 92 56 80 162 33 32 46 63 152 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 530 25 136 24 44 40 23 83 21 13 21 30 70 TOTAL LIABILITIES AND | CAPITAL ACCOUNTS 153,159 6,676 36,463 6,968 11,521 13,801 7,706 23,613 6,329 3,741 7,091 7,956 21,294 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 112,272 6,163 28,016 6,231 8,931 9,826 4,824 17,796 4,809 2,332 4,777 5,644 12,923 Collateral for F.R. notes: Gold certificate account 11,642 760 3,177 598 921 974 518 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 756 2/ 53 92 28 4 145 38 85 27 8 98 62 116 U.S. Government securities 98,574 -5,283 24,417 5,536 7,894 8,591 4,217 15,733 4,261 2,065 4,206 5,016 11,335 Total collateral 112,272 6,163 28,016 6,231 8,931 9,826 4,824 17,796 4,809 2,332 4,777 5,644 12,923 After deducting $204 million parricipat ions of ocher Federal Reserve Banks. y Includes securities borrowed from other Reserve Banks. Estimated (Cleveland and Richmond Districts). •k Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis