H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and •.f^LttS^V Condition Statement of F.R. Banks H.4.1 For immediate release December 7, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Dec. 6 Nov. 29, Dec. 7, Dec. 6, and related items 1978 1978 1977 1978 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 1/ 110,600 736 +13,526 2/ 104,361 Held under repurchase agreements 842 336 60 Federal Agency obligations-- Bought outright 7,899 19 + 570 7,899 Held under repurchase agreements 265 123 + 230 Acceptances— Bought outright Held under repurchase agreements 258 117 87 Loans— Total member bank borrowing 698 - 93 + 115 588 Includes seasonal borrowing of: 150 - 30 + 85 137 Other borrowing Float 6,532 -1, 070 + 1,662 8,459 Other F.R. assets 2,413 + 148 + 310 2,464 Total Reserve Bank credit 129,507 -1, 194 +16,440 123,771 Gold Stock 11,642 — + 20 11,640 Special Drawing Rights certif. acct. 1,300 -- + 100 1,300 Treasury currency outstanding 11,807 + 4 + 463 11,810 154,255 -1, 191 +17,021 148,521 Currency in circulation * 112,025 + 143 +10,288 112,690 Treasury cash holdings * 310 + 5 132 310 Treasury deposits with F.R. Banks 5,299 -1, 169 + 1,143 2,169 Foreign deposits with F.R. Banks 308 + 10 8 367 Other deposits with F.R. Banks 618 + 62 43 553 Other F.R. liabilities and capital 4,303 - 172 + 751 3,796 122,863 -1, 121 +11,998 119,885 Member bank reserves: With Federal Reserve Banks 31,392 - 71 + 5,024 28,636 Currency and coin 10,027 + 172 + 773 10,027 Total reserves held 3_/ 41,492 + 100 + 5,805 | 38,736 Required reserves 41,377 + 25 +5,705 | 41,377 Excess reserves 3/ 115 + 75 + 100 - 2,641 NOTE: A net of $58 million of surplus reserves were eligible to be carried forward from the week ended November 29, into the week ending December 6. On December 6, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $92,610 million, an increase of $755 million for the week. 1/ Net of $3,158 million, daily average, matched sale-purchase transaction sout standing during the latest statement week, of which $1,695 million was with foreign official and international accounts. Includes securities loaned-fully secured by U.S. Government securities. 2/ Net of $8,988 million matched sale-purchase transactions, outstanding at the end of the latest statement week of which $1,688 million was with foreign official and international accounts. Includes $156 million securities loaned--fully secured by U.S. Government securities. 3/ Adjusted to include $73 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 Dec. 6, Nov. 29, Dec. 7, A S S E TS 1978 1978 1977 Gold certificate account 11,640 2 - 18 Special Drawing Rights certif. acct. * 1,300 — + 100 Coin 272 2 - 19 Loans 588 - 672 — Acceptances—Bought outright Held under repurchase agreements .- - 370 - 294 Federal Agency obligations—Bought outright 7,899 — + 570 Held under repurchase agreements }J — - 625 - 50 U.S. Government securities: Bought outright—Bills 37,041 -7,749 2,387 Certificates Notes 54,855 — + 5,239 Bonds 12,465 — + 3,724 Total bought outright U 104,361 -7,749 + 6,576 Held under repurchase agreements 1/ — --22,,000000 - 629 Total U.S. Government securities 104,361 --99,,774499 + 5,947 Total loans and securities 112,848 -11,416 +61,731 Cash items in process of collection (2,139) 15,343 +2,634 + 3,898 398 + 2 + 18 Bank premises Other assets JV 2,066 + 57 + 232 TOTAL ASSETS (2,139) 143,867 -8,727 +10,384 L I A B I L I T I ES Federal Reserve notes 101,462 + 392 + 9,650 Deposits: Member bank-reserves account 28,636 -3,727 + 1,765 U.S. Treasury—general account 2,169 -5,067 - 2,107 Foreign 367 + 92 + 123 Other 553 + 74 - 137 Total deposits 31,725 -8,628 - 356 Deferred availability cash items (2,139) 6,884 + 297 + 618 Other liabilities and accrued dividends 1,516 - 268 + 366 TOTAL LIABILITIES (2,139) 141,587 -8,207 +10,278 C A P I T AL A C C O U N TS Capital paid in 1,075 + 2 + 50 Surplus 1,029 — + 46 Other capital accounts 176 - 522 + 10 * Figures in parentheses are the eliminations made in the consolidating process. XI 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 $8,988 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $156 million securities loaned— fully secured by U.S. Government securities. 3^/ Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. DECEMBER 6, 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 Loan 8 Accept securities obligations ances Holdings Weekly Holdings Weekly changes changes Within 15 days 526 3,748 -3,604 + 73 -688 16 days to 90 days 62 15,369 -4,406 493 + 56 91 days to 1 year 28,244 -1,514 1,299 + 7 Over 1 year to 5 years 31,608 - 225 3,686 — Over 5 years to 10 years 14,717 -- 1,488 -- Over 10 years 10,675 -- 860 -- Total 588 104,361 -9,749 7,899 -625 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 DECEMBER 6, 1978 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis Citv Dallas Francisco (In millions of dollars) A S S E TS h Gold certificate account 11,640 760 3,175 598 921 974 518 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 272 16 20 15 33 21 31 13 22 10 41 16 34 Loans 588 140 30 35 37 21 53 80 28 25 53 78 8 Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations— Bought outright 7,899 368 1,921 396 657 647 357 1,260 322 190 324 410 1,047 Held under repurchase agreements V "" U.S. Government securities: Bought outrigjit — Bills 37,041 1,724 9,011 1,855 3,083 3,033 1,676 5,907 1,512 889 1,517 1,923 4,911 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 7,272 Bonds 12,465 580 3,032 624 1,037 1,021 564 1,988 509 299 511 647 1,653 4/ Total bought outright 2/ 104,361 4,857 25,387 5,226 8,685 8,546 4,721 16,644 4,261 2,504 4,276 5,418 -13,836 Held under repurchase agreements 1/ J -- -- -- -- -- — -- -- -- — — -- — Total U.S. Government securities 104,361 4,857 25,387 5,226 8,685 8,546 4,721 16,644 4,261 2,504 4,276 5,418 13,836 Total loans and securities 112,848 5,365 27,338 5,657 9,379 9,214 5,131 17,984 4,611 2,719 4,653 5,906 14,891 Cash items in process of collection 17,482 511 2,405 470 999 2,339 2,741 2,559 728 749 1,486 1,004 1,491 Bank premises 398 106 10 55 24 84 21 16 13 29 19 12 9 Other assets J3/ 2,066 94 494 143 143 146 135 259 73 57 73 97 352 Interdistrict settlement account -0- - 722 +2,227 - 386 - 696 + 258 -1,272 - 508 + 89 - 487 77 + 51 +1,523 TOTAL 146,006 6,197 35,999 6,621 10,915 13,152 7,356 22,301 6,057 3,336 6,668 7,652 19,752 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 $8,988 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $156 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 DECEMBER 6, 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 101,462 5,235 26,003 5,182 8,422 9,235 3,612 16,915 .4,433 1,843 4,229 4,755 11,598 Deposits: Member bank reserves 28,636 390 7,214 917 1,718 1,396 2,059 3,583 906 675 1,148 1,978 6,652 U.S. Treasury—general account 2,169 113 312 121 56 238 202 393 128 65 139 121 281 Foreign 367 8 1/ 163 12 23 15 21 42 8 8 12 16 39 Other 553 1 479 1 14 37 4 1 1 3 7 5 Total deposits 31,725 512 8,168 1,050 1,798 1,663 2,319 4,022 1,043 749 1,302 2,122 6,977 Deferred availability cash items 9,023 310 878 223 379 2,010 1,177 789 450 637 980 565 625 Other liabilities and accrued dividends 1,516 68 356 72 121 120 82 231 59 38 61 77 231 TOTAL LIABILITIES 1 143,726 6,125 35,405 6,527 10,720 13,028 7,190 21,957 5,985 3,267 6,572 7,519 19,431 CAPITAL ACCOUNTS Capital paid in 1,075 33 280 44 92 56 80 162 33 34 46 63 152 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital accounts 176 7 47 6 16 13 8 25 7 4 7 12 24 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 146,006 6,197 35,999 6,621 10,915 13,152 7,356 22,301 6,057 3,336 6,668 7,652 19,752 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 112,661 6,137 28,284 6,225 8,970 9,862 4,757 17,873 4,826 2,341 4,792 5,585 13,009 Collateral for F.R. notes: Gold certificate account 11,640 760 3,175 598 921 974 518 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 534 2/ U0 30 2/ 34 36 2/ 17 40 76 2/ 28 22 46 57 8 U.S. Government securities 99,187 £/5,170 24,749 -/5,524 7,901 £/8,755 4,148 15,819 -'4,277 2,060 4,273 4,962 11,549 Total collateral 112,661 6,137 28,284 6,225 8,970 9,862 4,757 17,873 4,826 2,341 4,792 5,585 13,009 1/ After deducting $204 million participations of other Federal Reserve Banks. 2/ Includes securities borrowed from other Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis