H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and '-"'f^ffi^'' Condition Statement of F.R. Banks H.4.1 For immediate release December 14, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Dec. 13, Dec. 6, 1 Dec. 14, Dec. 13, and related items 1978 1978 | 1977 1978 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright--System account 1/ 107,572 -3, 028 +10,156 2/ 110,558 Held under repurchase agreements 25 - 817 + 25 -- Federal Agency obligations-- Bought outright 7,898 _ 1 + 579 7,896 Held under repurchase agreements 14 - 251 + 14 -- Acceptances-- Bought outright Held under repurchase agreements 37 - 221 + 37 -- Loans- Total member bank borrowing 594 _ 104 + 85 473 Includes seasonal borrowing of: 132 - 18 + 76 129 Other borrowing Float 7,095 + 572 + 1,902 7,458 Other F.R. assets 2,554 + 141 + 417 2,501 Total Reserve Bank credit 125,789 -3, 709 +13,215 128,886 Gold Stock 11,639 - 3 79 11,635 Special Drawing Rights certif. acct. 1,300 -- + 100 1,300 Treasury currency outstanding 11,822 + 15 + 474 11,822 150,550 -3, 696 +13,710 153,643 Currency in circulation * 112,846 + 783 +10,290 113,438 Treasury cash holdings * 288 + 15 115 310 Treasury deposits with F.R. Banks 2,120 -3, 179 - 1,090 1,869 Foreign deposits with F.R. Banks 266 - 42 4 204 Other deposits with F.R. Banks 731 + 113 + 111 582 Other F.R. liabilities and capital 4,069 - 234 + 661 4,285 120,320 -2, 543 + 9,854 120,688 Member bank reserves: With Federal Reserve Banks 30,231 -1, 152 + 3,857 32,956 Currency and coin 10,833 + 806 + 996 10,833 Total reserves held 3/ 41,137 - 346 + 4,862 43,862 Required reserves 41,141 - 236 + 5,179 41,141 Excess reserves 3/ 4 - 110 317 2,721 NOTE: A net of $173 million of surplus reserves were eligible to be carried forward from the peek ended December 6, into the week ending December 13. On December 13, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $93,473 million, an increase of $863 million for the week. 1/ Net of $5,373 million, daily average, matched sale-purchase transactions out standing during the latest statement week, of which $1,492 million was with foreign official and international accounts. Includes securities loaned-fully secured by U.S. Government securities. 2/ Net of $2,137 million matched sale-purchase transactions outstanding at the end of the latest statement week,of which $812 million was with foreign official and international accounts. includes $132 miLLion securities loaned--fully secured by U.S. Government securities. 3/ Adjusted to include $73 million waivers oC penalties for reserve cref iciencies 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. 13, Dec. 6, De! C. 14, A S S E TS 1978 1978 1977 Gold certificate account 11,635 5 - 83 Special Drawing Rights certif. acct. 1,300 -- + 100 Coin 277 + 5 - 17 Loans 473 - 115 - 765 Acceptances--Bought outright Held under repurchase agreements Federal Agency obligations—Bought outright 7,896 591 Held under repurchase agreements 1/ U.S. Government securities: Bought outright--Bills 43,238 +6,197 + 7,038 Certificates Notes 54,855 + 5,239 Bonds 12,465 + 3,724 Total bought outright 2/ 110,558 +6,197 +16,001 Held under repurchase agreements 1/ Total U.S. Government securities 110,558 +6,197 +16,001 Total loans and securities 118,927 +6,079 +15,827 Cash items in process of collection (2,046) 14,042 -1,301 + 755 Bank premises 398 -- + 15 Other assets JV 2,103 + 37 + 302 TOTAL ASSETS (2,046) 148,682 +4,815 +16,899 LIABILITIES Federal Reserve notes 02,202 + 740 + 9,820 Deposits: Member bank-reserves account 32,956 +4,320 + 7,612 U.S. Treasury-general account 1,869 - 300 875 Foreign 204 - 163 87 Other 582 + 29 122 Total deposits 35 ,611 +3,886 + 6,528 Deferred availability cash items (2,046) 6 ,584 - 300 226 Other liabilities and accrued dividends 1 ,854 + 338 + 642 TOTAL LIABILITIES (2,046) 146,251 +4,664 +16,764 C A P I T AL A C C O U N TS Capital paid in 1,076 + 1 + 51 Surplus 1,029 + 46 Other capital accounts 326 + 150 + 38 * 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 $1,317 million was outstanding at the end of the latest: statement week. 2^/ Net of $2,137 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $132 million securities loaned-fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. DECEMBER 13, 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 iWeekly changes jchanges Within 15 days 387 4,450 + 702 -- -73 16 days to 90 days 86 19,654 +4,285 566 +73 91 days to 1 year 29,454 +1,210 1,286 -13 Over 1 year to 5 years 31,608 -- 3,723 +37 Over 5 years to 10 years 14,717 -- 1,461 -27 Over 10 years 10,675 -- 860 — Total 473 110,558 +6,197 7,896 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 13, 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 Gold certificate account 11,635 760 3,170 598 921 974 518 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 277 16 21 16 33 23 31 13 22 11 41 16 34 Loans 473 27 37 , 35 39 18 60 97 20 23 59 55 3 Acceptances: Bought outright Held under repurchase agreements Fedeval Agency obligations— Roughs: outright 7,896 367 1,921 395 657 647 357 1,259 322 190 324 410 1,047 :.ifcj.d under repurchase agreements \l ij.'i. Government securities: X&cught outright — Bills 43,238 2,012 10,519 2,166 3,599 3,540 1,956 6,895 1,766 1,038 1,771 2,244 5,732 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 Total bought outright 2/ 110,558 5,145 26,895 5,537 9,201 9,053 5,001 17,632 4,515 2,653 4,530 5,739 ^14,657 Held under repurchase agreements 1/ Total U.S. Government securities 110,558 5,145 26,895 5,537 9,201 9,053 5,001 17,632 4,515 2,653 4,530 5,739 14,657 Total loans and securities 118,927 5,539 28,853 5,967 9,897 9,718 5,418 18,988 4,857 2,866 4,913 6,204 15,707 Cash items in process of collection 16,088 467 2,131 468 847 2,185 2,140 1,839 761 756 1,445 998 2,051 Bank premises 398 106 10 55 24 84 21 16 13 29 19 12 9 Other assets .3/ 2,103 123 545 105 159 152 147 275 73 47 73 103 301 Interdistrict settlement account -0- - 729 +2,650 - 147 - 785 - 180 -1,262 - 463 - 148 - 628 + 41 + 267 +1,384 TOTAL 150,728 6,349 37,710 7,131 11,208 13,072 7,064 22,646 6,099 3,340 7,005 8,166 20,938 1/ Docs not include U.S. Government and Federal Agency securities resold under matched sale-purchase transactions to foreign official and international accounts, ~~ of which $1,317 million was outstanding at the end of the latest statement week. 2/ Net of $2,1.37 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $132 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 13, 1978 11.4.1(c) Phila St. Minne Kansas San Total Boston New York delphia Cleveland Richmond Atlanta Chicago Louis apolis City Dallas Franciscc (In millions of dollars) L I A B I L I T I ES Federal Reserve notes ' 102,202 5,276 26,262 5,201 8,517 9,286 3,555 17,025 4,476 1,866 4,246 4,720 11,772 Deposits: Member bank reserves 32,956 541 8,761 1,440 1,868 1,473 2,020 4,030 967 714 1,438 2,471 7 233 U.S. Treasury—general account 1,869 95 275 69 83 153 142 139 78 55 109 138 533 Foreign 204 6 1/ 54 9 17 11 15 31 6 6 9 12 28 Other 582 2 444 3 8 17 53 14 3 3 5 10 20 Total deposits 35,611 644 9,534 1,521 1,976 1,654 2,230 4,214 1,054 778 1,561 2,631 7 814 Deferred availability cash items 8,630 273 885 220 371 1,851 1,014 778 321 581 1,029 588 719 Other liabilities and accrued dividends 1,854 77 398 87 137 146 91 260 170 42 67 87 292 TOTAL LIABILITIES 148,297 6,270 37,079 7,029 11,001 12,937 6,890 22,277 6,021 3,267 6,903 8,026 20 597 CAPITAL ACCOUNTS Capital paid in 1,076 33 280 44 92 56 81 162 33 34 46 63 152 Surplus 1,029 32 267 44 87 55 78 157 32 31 43 58 145 Other capital, accounts 326 14 84 14 28 24 15 50 13 8 13 19 44 TOTAL LIABILITIES AND CAPITA], ACCOUNTS 150,728 6,349 37,710 7,131 11,208 13,072 7,064 22,646 6,099 3,340 7,005 8,166 20.938 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 112,943 6 ,121 28,329 6,215 9,046 9,949 4,677 17,854 4,872 2,340 4,775 5,572 13,193 Collateral for F.R. notes: Gold certificate account 11,635 760 3,170 598 921 974 518 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 418 27 37 34 39 13 47 90 12 21 50 45 3 U.S. Government securities 99,590 2/s 267 24,792 5,514 7,974 8,846 4,061 15,786 4,339 2,060 4,252 4,961 11,738 Total collateral 112,943 6 121 28,329 6,215 9,046 9,949 4,677 17,854 4,872 2,340 4,775 5,572 13,193 1/ After deducting. $150 million participations of other Federal Reserve Banks. 2/ Includes securi-ies borrowed from other Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis