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 December 28, 1978 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Dec. 27, Dec. 20, Dec. 28, Dec. 27, and related items 1978* 1978 1977 1978* Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account -1 107,375 -2,423 + 6,385 2/ £/ 109,583 Held under repurchase agreements 460 + 356 - 1,915 | 2,056 Federal Agency obligations-- Bought outright 7,896 -- 117 7,896 Held under repurchase agreements 316 + 270 249 1,269 Acceptances-- Bought outright Held under repurchase agreements 110 + 104 479 444 Loans-- Total member bank borrowing 1,413 + 846 + 727 1 ' 3,111 Includes seasonal borrowing of: 131 -- + 78 138 Other borrowing Float 9,279 +1,896 + 3,150 7,992 Other F.R. assets 4,473 + 569 + 2,073 4,621 Total Reserve Bank credit 131,323 +1,619 + 9,575 136,972 Gold Stock 11,628 + 17 90 11,671 Special Drawing Rights certif. acct. 1,300 -- + 86 1,300 Treasury currency outstanding 11,844 + 22 + 480 11,846 156,095 +1,658 +10,051 161,789 Currency in circulation ** 114,336 +1,021 +10,623 115,118 Treasury cash holdings ** 275 -- 119 275 Treasury deposits with F.R. Banks 4,952 +1,204 - 4,394 3,540 Foreign deposits with F.R. Banks 320 + 28 + 23 285 Other deposits with F.R. Banks 620 - 46 + 39 613 Other F.R. liabilities and capital 4,548 + 181 + 217 4,704 125,051 +2,389 + 6,389 124,535 Member bank reserves: With Federal Reserve Banks 31,044 - 731 + 3,660 37,254 Currency and coin 10,276 + 251 + 916 ! 10,276 Total reserves held 2/ 41,392 - 481 + 4,585 47,602 Required reserves 41,396 - 412 + 4,834 41,396 Excess reserves 3/ 4 - 69 249 6,206 NOTE: A net of $201 million of surplus reserves were eligible to be carried forward from the week ended December 20, into the week ending December 27. On December 27, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $95,145 million, an increase of $1,172 million for the week. 1/ Net of $3,771 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,616 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. Government securities. Net of $1,540 million matched sale-purchase transactions outstanding at the end of the latest sLatement week,of which $1,540 million was with foreign official and international accounts. Includes $190 million securities loaned--fully secured by U.S. Government securities. V Adjusted to include $72 million waivers of penalties for re serve do f ioiencie s in accordance with Board policy effective November 19, 1975. Estimated (Atlanta District). 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. 27, Dec. 20, Dec. 28, A S S E TS 1978** 1978 I2ZZ Gold certificate account 11,671 + 60 - 47 Special Drawing Rights certif. acct. * 1,300 -- + 50 Coin 271 6 - 10 Loans 3,111 +2,609 + 1,202 Acceptances--Bought outright Held under repurchase agreements 444 + 444 „ 290 Federal Agency obligations--Bought outright 7,896 -- - 117 Held under repurchase agreements J7 1,269 +1,269 + 457 U.S. Government securities: Bought outright--Bills 42,263 +2,479 + 557 Certificates Notes 54,855 + 4,346 Bonds 12,465 + 3,617 Total bought outright V 109,583 +2,479 + 8,520 Held under repurchase agreements J7 2,056 +2,056 - 2,563 Total U.S. Government securities 111,639 +4,535 + 5,957 Total loans and securities 124,359 +8,857 + 7,209 Cash items in process of collection (2,127) 15,561 -2,414 + 2,006 Bank premises 398 + 1 + 21 Other assets JV 4,223 + 278 + 2,197 TOTAL ASSETS (2,127) 157,783 +6,776 +11,426 L I A I I I i l i l ES Federal Reserve notes 103,818 +1,037 +10,100 Deposits: Member bank-reserves account 37,254 +6,466 + 5,005 U.S. Treasury--general account 3,540 - 960 - 4,124 Foreign 285 + 10 42 Other 613 + 31 17 Total deposits 41,692 +5,547 + 822 Deferred availability cash items (2,127) 7,569 13 298 Other liabilities and accrued dividends 1,946 + 41 + 605 TOTAL LIABILITIES (2,127) 155,025 +6,612 +11,229 C A P I T AL A C C O U N TS Capital paid in 1,078 + 2 + 51 Surplus 1,029 -- + 46 Other capital accounts 651 + 162 + 100 Figures in parentheses are the eliminations made in the consolidating process. Estimated (Atlanta District). 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 $1,540 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $190 million securities loaned-fully secured by U.S. Government securities. 3^/ Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES, December 27, 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 3,093 444 6,915 +1 ,268 1,353 +1,270 16 days to 90 days 18 18,179 +3 ,121 482 91 days to 1 year 29,545 + 146 1,286 Over 1 year to 5 years 31,608 -- 3,723 Over 5 years to 10 years 14,717 -- 1,461 Over 10 years 10,675 -- 860 Total 3,111 444 111,639 +4 ,535 9,165 +1,269 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 27, 1978 New Phila- Cleve- Rich St. Minne- Kansas San Total ' Boston York delphia land | mond , Atlanta* Chicago Louis apolis , City Dallas lFrancisco, (In millions of dollars) A S S E TS Gold certificate account 11,671 760 3,206 598 921 974 518 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 271 17 19 16 32 23 31 13 22 11 39 16 32 Loans 3,111 136 1,571 254 25 206 140 279 101 12 69 164 154 Acceptances: Bought outright -- -- -- -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements 444 -- 444 -- -- -- -- -- — -- -- — -- Federal Agency obligations— Bought outright 7,896 367 1,921 395 657 647 357 1,259 322 190 324 410 1,047 Held under repurchase agreements J7 1,269 -- 1,269 -- — -- -- -- -- -- -- -- -- U.S. Government securities: , Bought outright— Bills 42,263 1,966 10,281 2,117 3,518 3,460 1,912 6,740 1,726 1,015 1,731 2,194 5,603 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/ 109,583 5,099 26,657 5,488 9,120 8,973 4,957 17,477 4,475 2,630 4,490 5,689 -^ 14,528 Held under repurchase agreements _1/ 2,056 -- 2,056 -- — -- -- -- -- -- -- — -- Total U.S. Government securities 111,639 5,099 28,713 5,488 9,120 8,973 4,957 17,477 4,475 2,630 4,490 5,689 14,528 Total loans and securities 124,359 5,602 33,918 6,137 9,802 9,826 5,454 19,015 4,898 2,832 4,883 6,263 15,729 Cash items in process of collection 17,688 415 2,843 728 943 2,454 1,725 2,404 823 1,061 1,533 1,007 1,752 Bank premises 398 106 10 55 23 84 21 16 13 29 19 12 10 Other assets J3/ 4,223 183 996 203 306 441 276 559 138 110 165 241 605 Interdistrict settlement account -0- - 224 - 461 - 653 - 199 - 130 - 483 +1,047 74 - 875 + 465 + 795 + 792 TOTAL 159,910 6,926 40,861 7,153 11,940 13,788 7,593 25,032 6,341 3,427 7,577 8,900 20,372 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_l Net of $1,540 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $190 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 (Atlanta District.) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON 1D ECEMBER 27, 1978 H.4.1(c) Phila St. Minne Kansas San Total Boston New York delphia Cleveland Richmond Atlanta** Chicago Louis apolis City Dallas Franc isc (In millions of dollars) L I A B I L I T I E S. Federal Reserve notes 103,818 5,294 26,439 5,238 8,577 9,397 3,753 17,247 4,558 1,860 4,340 4,987 12,128 Deposits: Member bank reserves 37,254 1,054 10,620 1,267 2,209 1,740 2,135 5,889 923 738 1,722 2,706 6,251 U.S. Treasury—general account 3,540 115 822 199 345 139 377 266 222 101 211 260 483 Foreign 285 6 1/ 135 9 17 11 15 31 6 6 9 12 28 Other 613 2 523 1 14 47 5 1 2 2 1 15 Total deposits 41,692 1,177 12,100 1,475 2,572 1,904 2,574 6,191 1,152 847 1,944 2,979 6,777 Deferred availability cash items 9,696 284 1,063 240 423 2,180 978 917 427 599 1,113 693 779 Other liabilities and accrued dividends 1,946 78 546 82 134 145 101 255 112 41 65 83 304 TTOOTTAALL LLIIAABBIILLIITTIIEESS 157,152 6,833 40,148 7,035 11,706 13,626 7,406 24,610 6,249 3,347 7,462 88,,774422 19,988 CCAAPPIITTAALL AACCCCOOUUNNTTSS CCaappiittaall ppaaiidd iinn 1,078 33 280 44 92 57 81 163 33 34 46 6633 152 SSuurrpplluuss 1,029 j 32 267 44 87 55 78 157 32 31 43 5588 145 OOtthheerr ccaappiittaall aaccccoouunnttss 651 28 166 30 55 50 28 102 27 15 26 3377 87 TTOOTTAALL LLIIAABBIILLIITTIIEESS AANNDD CCAAPPIITTAALL AACCCCOOUUNNTTSS 159,910 6,926 40,861 7,153 11,940 13,788 7,593 25,032 6,341 3,427 7,577 88,,990000 20,372 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 112,941 6,073 28,247 6,173 9,078 9,942 4,784 17,737 4,891 2,314 4,784 5,693 13,225 Collateral for F.R. notes: Gold certificate account 11,671 760 3,206 598 921 974 518 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 1,848 135 558 253 25 201 95 276 44 10 57 147 47 U.S. Government securities 98,122 2/ 5 ,111 24,153 5,253 8,020 8,651 4,120 15,483 4,326 2,045 4,254 4,980 11,726 Total collateral 112,941 6,073 28,247 6,173 9,078 9,942 4,784 17,737 4,891 2,314 4,784 5,693 13,225 V After deducting $150 million participations of other Federal Reserve Banks. 27 Includes securities borrowed from other Reserve Banks. * Less than $500,000. ** Estimated (Atlanta District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis