H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and -f*ZUtt& Condition Statement of F.R. Banks H.4.1 For immediate release January 11, 1979 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Jan. 10, Jan. 3, Jan. 11, Jan. 10, and related items 1979 1979 1978 1979 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- 1/ 2/ Bought outright--System account 104,737 -4,295 + 5,424 - 102,833 Held under repurchase agreements -1,274 322 Federal Agency obligations-- Bought outright 7,892 3 112 7,892 Held under repurchase agreements - 330 86 Acceptances— Bought outright Held under repurchase agreements - 574 124 Loans-- Total member bank borrowing 685 - 497 + 243 759 Includes seasonal borrowing of: 93 29 + 67 90 Other borrowing Float 11,160 +3,130 + 4,098 9,477 Other F.R. assets 4,512 + 40 + 2,116 4,264 Total Reserve Bank credit 128,985 -3,805 +11,235 125,225 Gold Stock 11,660 11 59 11,624 Special Drawing Rights certif. acct. 1,300 -- + 50 1,300 Treasury currency outstanding 11,850 + 4 + 465 11,854 153,795 -3,812 +11,692 150,003 Currency in circulation * 113,737 - 982 +10,580 113,451 Treasury cash holdings * 271 + 23 122 275 Treasury deposits with F.R. Banks 3,116 - 766 - 3,306 2,286 Foreign deposits with F.R. Banks 341 + 7 95 234 Other deposits with F.R. Banks 710 - 494 + 63 653 Other F.R. liabilities and capital 4,417 + 74 + 998 4,345 122,591 -2,140 + 8,118 121,244 Member bank reserves: With Federal Reserve Banks 31,204 -1,673 + 3,575 28,759 Currency and coin 10,450 79 + 914 10,450 Total reserves held 3/ 41,771 -1,704 + 4,531 39,326 Required reserves 41,797 - 820 + 4,862 41,797 Excess reserves 3/ 26 - 884 331 - 2,471 NOTF.: A net of $335 million of surplus reserves were eligible to be carried forward from the week ended January 3, into the week ending January 10. On January 10, 1979, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $96,799 million, an increase of $394 million for the week. 1/ Net of $5,517 million, daily average, matched sale-purchase transactions out standing during the latest statement week, of which $2,068 million was with foreign official and international accounts. Includes securities loaned-fully secured by U.S. Government securities. 2/ Net of $7,028 million matched sale-purchase transactions outstanding at the end of the latest statement week,of which $1,634 million was with foreign official and international accounts. Includes $156 million securities loaned--fully secured by U.S. Government securities. 3/ Adjusted to include $117 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 Jan. 10, Jan . 3, Jan. 11, A S S E TS 1979 1979 1978 Gold certificate account 11,624 - 47 95 Special Drawing Rights certif. acct. 1,300 -- + 50 Coin 265 — 17 Loans 759 + 142 33 Acceptances--Bought outright Held under repurchase agreements 303 Federal Agency obligations—Bought outright 7,892 112 Held under repurchase agreements 1/ U.S. Government securities: Bought outright—Bills 35,513 -3,922 408 Certificates Notes 54,855 -- + 4,346 Bonds 1122,,446655 — + 3,617 Total bought outright 2/ 110022,,883333 -3,922 + 8,371 Held under repurchase agreements 1/ -- -- 114411 -- Total U.S. Government securities 102,833 --44,,006633 + 8,371 Total loans and securities 111,484 -4,233 + 8,226 Cash items in process of collection (2 131) 16,269 -4,478 + 3,750 Bank premises 396 4- 2 + 19 Other assets 3/ 3,868 - 153 + 1,848 TOTAL ASSETS (2,1 31) 145,206 ;jL.?09 +13,781 LIABILITIES Federal Reserve notes 102,137 -1,312 + 9,927 Deposits: Member bank-reserves account 28,759 -4,350 + 5,641 U.S. Treasury-general account 2,286 -1,292 - 3,074 Foreign 234 36 55 Other 653 - 101 7 Total deposits 31,932 -5,779 + 2,505 Deferred availability cash items (2, 131) 6,792 -1,994 + 470 Other liabilities and accrued dividends 4/ 1,956 + 24 + 756 TOTAL LIABILITIES (2 131) 142,817 -9,061 +13,658 C A P I T AL A C C O U N T S. Capital paid in 1,079 „ + 47 Surplus 1,078 -- + 49 Other capital accounts 232 + 152 + 27 * 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 $-0- million was outstanding at the end of the latest statement week. 2/ Net of $7,028 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. Beginning December 29, 1978, such assets are revalued as of each month end. 4/ Includes exchange-translation account reflecting, beginning December 29, 1978, the month-end revaluation of foreign-exchange commitments. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES, JANUARY 10, 1979 (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 712 4,129 + 806 56 +47 16 days to 90 days 47 12,605 -5,428 451 -56 91 days to 1 year 28,916 + 558 1,388 -- Over 1 year to 5 years 31,791 + 1 3,676 -- Over 5 years to 10 years 14,717 -- 1,511 -- Over 10 years 10,675 -- 881100 -- Total 759 102,833 -4,063 77,,889922 - 9 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 JANUARY 10, 1979 New Phila- Cleve- Rich- St. Minne- Kansas San Total Boston York delphia land J mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 11,624 960 2,959 598 921 974 518 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 265 18 19 15 33 23 30 13 21 11 39 15 28 Loans 759 110 35 41 65 116 147 63 69 8 42 40 23 Acceptances: Bought outright -- -- -- -- -- -- -- -- — -- -- -- — Held under repurchase agreements -- -- -- -- -- -- -- -- -- — -- -- -- Federal Agency obligations— Bought outright 7,892 367 1,920 395 657 646 357 1,259 322 190 323 410 1,046 Held under repurchase agreements 1/ -- -- -- -- — -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright— Bills 35,513 1,652 8,639 1,779 2,956 2,907 1,607 5,664 1,450 853 1,455 1,843 4,708 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/ 102,833 4,785 25,015 5,150 8,558 8,420 4,652 16,401 4,199 2 ,468 4,214 5,338 -'13.633 Held under repurchase agreements 1/ -- -- -- -- -- -- -- -- — -- -- __ -- Total U.S. Government securities 102,833 4,785 25,015 5,150 8,558 8,420 4,652 16,401 4,199 ~ ,468 4,214 5,338 13,633 Total loans and securities 111,484 5,262 26,970 5,586 9,280 9,182 5,156 17,723 4,590 2, 666 4,579 5,788 14,702 Cash items in process of collection 18,400 469 2,619 907 1,011 2,462 2,325 2,338 787 826 1,434 1,096 2,126 Bank premises 396 106 10 55 24 80 22 16 13 29 19 12 10 Other assets 3/ 3,868 157 959 176 290 250 290 576 129 96 146 208 591 Interdistrict settlement account -0- - 486 +1,555 - 758 - 411 - 225 -1,299 + 248 + 239 - 353 + 154 + 217 +1,119 TOTAL 147,337 6,553 35,421 6,648 11,260 12,862 7,093 22,892 6,300 3 ,534 6,844 7,902 20,028 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 $7,028 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, revalued as of each month end. 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 JANUARY 10,1 979 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 102,137 5,233 26,300 5,118 8,536 9,095 3,516 17,072 4,538 1,843 4,275 4,850 11,761 Deposits: Member bank reserves 28,759 752 6,030 925 1,787 1,417 1,936 4,180 1,010 882 1,201 1,999 6,640 U.S. Treasury--general account 2,286 155 271 145 219 213 185 195 164 85 183 191 280 Foreign 234 6 84 9 17 11 15 31 6 6 9 12 28 Other 653 * 572 1 7 46 4 * 2 2 9 10 Total deposits 31,932 913 6,957 1,079 2,024 1,648 2,182 4,410 1,180 975 1,395 2,211 6,958 Deferred availability cash items 8,923 258 872 272 366 1,855 1,142 804 439 604 1,012 621 678 Other liabilities and accrued dividends 1/ 1,956 72 677 78 132 131 82 245 67 39 61 82 290 TOTAL LIABILITIES 144,948 6,476 34,806 6,547 11,058 12,729 6,922 22,531 6,224 3,461 6,743 7,764 19,687 CAPITAL ACCOUNTS Capital paid in 1,079 33 280 44 92 58 80 163 34 34 46 63 152 Surplus 1,078 33 280 44 92 57 81 163 33 34 46 63 152 Other capital accounts 232 11 55 13 18 18 10 35 9 5 9 12 37 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 147,337 6,553 35,421 6,648 11,260 12,862 7,093 22,892 6,300 3,534 6,844 7,902 20,028 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 113,078 6,083 28,315 6,146 9,054 9,882 4,768 17,874 4,982 2,332 4,754 5,646 13,242 Collateral for F.R. notes: Gold certificate account 11,624 960 2,959 598 921 974 518 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 U E . li S g . i b G l ov e e r p n a m p e e n r t securities 99,4 6 8 7 2 2 -- 22 44 // ,,99 11 44 1100 66 24,99 3 2 4 2/ 5 ,4 4 3 1 8 7,9 6 5 5 6 ££ 22 // // 88 ,,66 11UU 88 11 4,0 11 8 9 0 15,8 5 4 3 3 ££22//// 44 ,,44 44 11 22 99 2,06 8 5 ££ 22 // // 44 ,,22 33 44 44 77 5,04 33 7 11,7 2 6 2 8 Total collateral 113,078 6,083 28,315 6,146 9,054 9,882 4,768 17,874 4,982 2,332 4 754 5,646 13 242 5 1/ Includes exchange translation account reflecting the month-end revaluation of foreign exchange commitments. 2/ Includes securities borrowed from other Reserve Banks. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis