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 January 25, 1979 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Jan. 24, Jan. 17, Jan. 25, Jan. 24, and related items 1979 1979 1978 1979 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- 1/ Bought outright—System account 104,725 -2,406 + 5,079 -1 105,724 Held under repurchase agreements 64 Federal Agency obligations-- Bought outright 7,889 115 7,886 Held under repurchase agreements 6 Acceptances— Bought outright Held under repurchase agreements 31 Loans-- Total member bank borrowing 924 + 27 + 332 1,081 Includes seasonal borrowing of: 105 — + 69 105 Other borrowing Float 9,860 + 440 + 2,719 9,392 Other F.R. assets 4,349 37 + 1,522 4,394 Total Reserve Bank credit 127,747 -1,979 + 9,436 128,477 Gold Stock 11,608 1 111 11,608 Special Drawing Rights certif. acct. 1,300 — + 50 1,300 Treasury currency outstanding 11,875 + 11 + 479 11,882 152,530 -1,969 + 9,854 153,267 Currency in circulation * 111,437 -1,162 +10,264 111,157 Treasury cash holdings * 250 + 3 - 147 250 Treasury deposits with F.R. Banks 3,420 + 118 - 4,790 3,432 Foreign deposits with F.R. Banks 269 8 14 291 Other deposits with F.R. Banks 858 + 72 108 853 Other F.R. liabilities and capital 4,593 + 103 + 840 4,596 120,827 - 874 + 6,044 120,579 Member bank reserves: With Federal Reserve Banks 31,704 -1,094 + 3,811 32,688 Currency and coin 11,169 - 833 + 1,050 11,169 Total reserves held 3/ 42,997 -1,920 + 4,906 43,981 Required reserves 42,991 -1,464 + 5,215 42,991 Excess reserves 3/ 6 - 456 309 990 NOTE: A net of $160 million of surplus reserves were eligible to be carried forward from the week ended January 17, into the week ending January 24. On January 24, 1979, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $95,794 million, a decrease of $938 million for the week. J7 Net of $3,334 million, daily average, matched sale-purchase transaction sout standing during the latest statement week, of which $1,542 million was with foreign official and international accounts. Includes securities loaned-fully secured by U.S. Government securities. 2/ Net of $1,652 million matched sale-purchase transactions outstanding at the end of the latest statement week,of which $1,652 million was with foreign official and international accounts. Includes $95 million securities loaned--fully secured by U.S. Government securities. 3/ Adjusted to include $124 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. 24, Jan. 17, Jan. 25, A S S E TS 1979 1979 1978 Gold certificate account 11,608 -- 111 Special Drawing Rights certif, acct. 1,300 -- + 50 Coin 305 + 21 17 Loans 1,081 - 966 - 1,251 Acceptances—Bought outright Held under repurchase agreements -- _. - 214 Federal Agency obligations--Bought outright 7,886 - 6 118 Held under repurchase agreements \J -- -- 40 U.S. Government securities: Bought outright—Bills 38,404 +3,351 + 430 Certificates Notes 54,855 + 3,890 Bonds 12,465 + 3,516 Total bought outright 2/ 105,724 +3,351 + 7,836 Held under repurchase agreements J7 - 449 Total U.S. Government securities 105,724 +3,351 + 7,387 Total loans and securities 114,691 +2,379 + 5,764 Cash items in process of collection (2,338) 15,918 -6,393 + 2,641 Bank premises 395 1 + 16 Other assets V 3,999 - 283 + 1,682 TOTAL ASSETS (2,338) 148,216 -4,277 +10,025 LIABILITIES Federal Reserve notes 99,830 -1,122 + 9,434 Deposits: Member bank-reserves account 32,688 -2,037 + 5,671 U.S. Treasury—general account 3,432 + 371 - 6,409 Foreign 291 - 25 + 29 Other 853 + 141 + 213 Total deposits 37,264 -1,550 - 496 Deferred availability cash items (2,338) 6,526 -1,659 + 365 Other liabilities and accrued dividends 4/ 1,875 - Ill + 527 TOTAL LIABILITIES (2,338) 145,495 -4,442 + 9,830 C A P I T AL A C C O U N TS Capital paid in 1,085 + 3 + 50 Surplus 1,078 -- + 49 Other capital accounts 558 + 162 + 96 * Figures in parentheses are the eliminations made in the consolidating process. JL/ 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 $1,652 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $95 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 24, 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 1,061 2,914 + 603 17 -56 16 days to 90 days 20 18,325 +3,608 494 +60 91 days to 1 year 27,302 - 860 1,369 -19 Over 1 year to 5 years 31,791 -- 3,685 + 9 Over 5 years to 10 years 14,717 -- 1,511 -- Over 10 years 10,675 -- 810 -- Total 1,081 105,724 +3,351 7,886 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 24, 1979 New Phila- Cleve- Rich- St. Minne- Kansas San Total Boston York delphia land 1 mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 11,608 960 2,943 598 921 974 518 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 305 20 22 17 38 27 37 15 23 12 42 17 35 Loans 1,081 69 194 121 59 137 125 90 101 13 46 62 64 Acceptances: Bought outright -- -- — — — -- — — -- -- -- -- "" Held under repurchase agreements -- — — — -- -- -- -- -- -- "" ._ -- Federal Agency obligations— Bought outright 7,886 367 1,918 395 656 646 357 1,258 322 189 323 409 1,046 Held under repurchase agreements 1/ -- -- -- — -- -- — -- -- -- -- — — U.S. Government securities: Bought outright-- Bills 38,404 1,787 9,343 1,924 3,197 3,144 1,738 6,124 1,568 922 1,573 1,993 5,091 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/ 105,724 4,920 25,719 5,295 8,799 8,657 4,783 16,861 4,317 2,537 4,332 5,488 ^14,016 Held under repurchase agreements 1/ -- -- -- -- -- -- -- — -- -- -- -- Total U.S. Government securities 105,724 4,920 25,719 5,295 8,799 8,657 4,783 16,861 4,317 2,537 4?332 5,488 14,016 Total loans and securities 114,691 5,356 27,831 5,811 9,514 9,440 5,265 18,209 4,740 2,739 4,701 5,959 15,126 Cash items in process of collection 18,256 488 2,288 767 1,107 2,098 2,137 2,535 1,088 757 2,009 1,188 1,794 Bank premises 395 106 10 55 23 80 22 16 13 29 19 12 10 Other assets 31/ 3,999 177 935 186 316 280 344 580 131 105 148 216 581 Interdistrict settlement account -0- - 545 +3,412 - 542 - 215 - 321 -1,173 -1,071 - 325 - 414 39 + 503 + 730 TOTAL 150,554 6,629 37,771 6,961 11,816 12,694 7,201 22,262 6,191 3,487 7,353 8,461 19,728 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 $1,652 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $95 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 24, 1979 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 • 99,830 5,081 25,814 4,988 8,361 8,878 3,368 16,826 4 ,'448 1,790 4,215 4,823 11,238 Deposits: Member bank reserves 32,688 898 8,426 1,016 2,412 1,561 2,196 3,817 970 885 1,517 2,425 6,565 U.S. Treasury—general account 3,432 234 468 271 234 222 263 231 123 113 350 361 562 Foreign 291 6 141 8 17 11 15 31 6 6 9 12 29 Other 853 1 756 .* 19 49 7 1 2 2 7 9 Total deposits < 37,264 1,139 9,791 1,295 2,663 1,813 2,523 4,086 1,100 1,006 1,878 2,805 7,165 Deferred availability cash items 8,864 248 821 484 437 1,719 1,015 698 493 573 1,086 594 696 Other liabilities and accrued dividends 1/ 1,875 68 650 75 125 124 109 238 61 37 61 84 243 TOTAL LIABILITIES 147,833 6,536 37,076 6,842 11,586 12,534 7,015 21,848 6,102 3,406 7,240 8,306 19,342 CAPITAL ACCOUNTS Capital paid in 1,085 33 280 45 92 58 81 164 34 35 46 63 154 Surplus 1,078 33 280 44 92 57 81 163 33 34 46 63 152 Other capital accounts 558 27 135 30 46 45 24 87 22 12 21 29 80 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 150,554 6,629 37,771 6,961 11,816 12,694 7,201 22,262 6,191 3,487 7,353 8,461 19,728 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 113,806 6,031 28,658 6,163 9,078 9,870 4,881 18,041 4,963 2,317 4,789 5,756 13,259 Collateral for F.R. notes: Gold certificate account 11,608 960 2,943 598 921 974 518 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 924 126 59 132 97 82 13 38 56 60 22// 6666 2/ 121 22// 7744 U.S. Government securities 99,974 ££//44,,993388 25,259 ZJ 5,375 7,986 8,648 4?215 15,981 ££//44,,336688 2,045 4,278 5,134 11,747 Total collateral 113,806 6,031 28,658 6,163 9,078 9,870 4,881 18,041 4,963 2,317 4,789 5,756 13,259 1_/ Includes exchange translation account reflecting the month-end revaluation of foreign exchange commitments. 2/ Includes securities borrowed from other Reserve Banks. * T.ess t-b.an SSQD OOQ- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis