H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and -.f54L«si? Condition Statement of F.R. Banks H.4.1 For immediate release February 15, 1979 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Feb. 14,* Feb. 7, Feb. 15, Feb. 14;* and related items 197 1979 . L. 1978 1979 Reserve Bank credit: "IT (In millions of dollars) TT U.S. Government securities— Bought outright—System account 103,989 888 4- 7,538 105,540 Held under repurchase agreements 319 352 76 1,244 Federal Agency obligations-- Bought outright 7,487 - 495 7,487 Held under repurchase agreements 73 18 + 53 364 Acceptances— Bought outright Held under repurchase agreements 181 11 118 708 Loans-- Total member bank borrowing 1,054 + 236 + 773 1,129 Includes seasonal borrowing of: 111 + 10 -1- 62 117 Other borrowing Float 6,584 + 538 + 18 9,025 Other F.R. assets. 5,540 - 39 +: 2,566 5,636 Total Reserve Bank credit 125,227 - 513 +10,495 131,133 Gold Stock 11,544 - 34 - 174 11,544 Special Drawing Rights certif. acct* 1,300 — + 50 1,300 Treasury currency outstanding 11,931 + 20 + 510 11,969 150,002 - 527 +10,881 155,946 Currency in circulation ** 111,066 + 502 + 9,652 111,459 Treasury cash holdings ** 250 - 39 139 ! 250 Treasury deposits with F.R. Banks 3,145 - 522 - 1,873 1 3,276 Foreign deposits with F.R. Banks 261 - 26 34 ! 312 Other deposits with F.R. Banks 938 + 127 + 184 j 902 Other F.R. liabilities and capital 4,162 + 9 + 209 4,071 119,823 + 54 + 8,000 120,270 Member bank reserves: With Federal Reserve Banks 30,180 . 580 + 2,882 | 35,676 Currency and coin 10,558 - 133 + 835 1 10,558 Total reserves held 3/ 40,874 - 708 + 3,776 46,370 Required reserves 40,600 - 618 + 3,687 40,600 Excess reserves 3/ 274 - 90 + 89 5,770 NOTE: A net of $105 million of surplus reserves were eligible to be carried forward from the week ended February 7, into the week ending February 14. On February 14, 1979, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $94,888 million, a decrease of $277 million for the week. 1/ Net of $2,461 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,408 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2/ Net of $1,422 million matches sale-purchase transactions, outstanding at the end of the latest statement week of which $1,422 million was with foreign official and international accounts. Includes $232 million securities loaned—fully secured by U.S. Government securities. 2/ Adjusted to include $136 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Philadelphia, Richmond and Chicago Districts). ** 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 Feb. 14, Feb. 7, I Feb. "15, ASSET-S 1979 ** I 1979 1 1978 Gold certificate account 11,544 - 174 Special Drawing Rights certif. acct # * 1,300 + 50 Coin 336 + 12 7 Loans 1,129 + 617 + 530 Acceptances—Bought outright Held under repurchase agreements 708 + 274 + 359 Federal Agency obligations—Bought outright 7,487 - 495 Held under repurchase agreements \J 364 + 218 + 230 U.S. Government securitiesr Bought outright—Bills 37,623 + 621 + 430 Certificates Notes 55,392 + 557 + 4,876 Bonds 12,525 + 60 + 3,127 Total bought outright 2/ 105,540 +1 ,218 + 8,433 Held under repurchase agreements 1/ 1,244 + 543 - 1,157 Total U.S. Government securities 106,784 +1 ,761 + 7,276 Total loans and securities 116,472 +2,870 + 7,900 Cash items in process of collection (2,080) 15,846 +1,916 +1,728 Bank premises 395 + 1 + 15 Other assets V 5,241 - 104 + 3,320 TOTAL ASSETS (2,080) 151,134 +4,689 +12,832 Federal Reserve notes 00,076 + 311 +9,066 Deposits: Member bank-reserves account 35,676 +2,381 + 4,972 U.S. Treasury—general account 3,276 +1,057 - 434 Foreign 312 + 79 115 Other 902 + 215 + 71 Total deposits 40,166 +3,732 + 4,494 Deferred availability cash items (2,080) 6,821 + 668 706 Other liabilities and accrued dividends^/ 1,546 - 184 186 TOTAL LIABILITIES (2,080) 148,609 +4,527 +12,668 S i H I A L ' A C C O U J TS Capital paid in 1,087 + 2 + 46 Surplus 1,078 — + 49 Other capital accounts 360 + 160 + 69 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (Philadelphia, Richmond and Chicago Districts). \J Does not include U.S. Government and Federal Agency securities resold under matches 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 $1,422 million matches sale-purchase transactions outstanding at the end of the latest statement week. Includes $232 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 monthly at market exchange rates. 4/ Includes exchange-translation account reflecting, beginning December 29, 1978, the monthly revaluation at market exchange rates of foreign-exchange commitments. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. FEBRUARY 14, 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 1,080 708 5,735 +1,589 696 +550 16 days to 90 days 49 18,124 + 325 205 -332 91 days to 1 year 25,405 - 704 1,154 — Over 1 year to 5 years 32,003 + 426 3,475 — Over 5 years to 10 years 14,781 + 64 1,511 -- Over 10 years 10,736 + 61 810 ___— Total 1,129 708 106,784 +1,761 7,851 +218 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 14, 1979 H.4.1(c) Phila-*-* St. Minne Kansas San Total Boston New York delphia Cleveland Richmond *A Atlanta *Ohicago Louis apolis City Dallas Francisco (In million.3 of dollars) L I A B I L I T I ES Federal Reserve notes 100,076 5,089 25,873 5,043 8,448 8,975 3,181 16,862 4,480 1,804 4,244 4,813 11,264 Deposits: Member bank reserves 35,676 1,253 9,176 860 2,044 1,573 2,056 5,538 904 895 1,374 2,562 7,441 U.S. Treasury—general account 3,276 199 449 172 310 245 325 436 123 132 230 167 488 Foreign 312 6 162 8 17 11 15 31 6 6 9 12 29 Other 902 1 809 1 2 15 47 5 * 2 2 9 9 Total deposits 40,166 1,459 10,596 1,041 2,373 1,844 2,443 6,010 1,033 1,035 1,615 2,750 7,967 Deferred availability cash items 8,901 281 1,286 286 471 1,697 1,056 800 428 490 969 544 593 Other liabilities and accrued dividends 1,546 66 568 69 119 125 86 230 62 37 59 78 47 TOTAL LIABILITIES 150,689 6,895 38,323 6,439 11,411 12,641 6,766 23,902 6,003 3,366 6,887 8,185 19,871 CAPITAL ACCOUNTS Capital paid in 1,087 33 280 44 92 58 82 164 34 35 46 64 155 Surplus 1,078 33 280 44 92 57 81 163 33 34 46 63 152 Other capital accounts 360 19 83 19 28 23 20 53 15 10 16 18 56 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 153,214 6,980 38,966 6,546 11,623 12,779 6,949 24,282 6,085 3,445 6,995 8,330 20,234 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 113,239 5,973 28,625 6,166 9,115 9,754 4,637 18,007 4,977 2,313 4,887 5,678 13,107 Collateral for F.R. notes: Gold certificate account 11,544 960 2,879 598 921 974 518 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 1,050 77 68 188 46 134 59 213 61 36 49 102 17 U.S. Government securities 99,345 4,869 25,348 2/ 5,311 8,036 8,530 4,009 15,816 2/ 4,395 2,018 2/ 4,365 5,010 11,638 Total collateral 113,239 5,973 28,625 6,166 9,115 9,754 4,637 18,007 4,977 2,313 4,887 5,678 13,107 1/ Includes exchange translation account reflecting the monthly revaluation at market exchange rates of foreign-exchange commitments 2/ Includes securities borrowed from other Reserve Baaks. * Less than $500,000. ** Estimated (Philadelphia, Richmond and Chicago Districts). 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 FEBRUARY 14, 1979 New Fhila- Cleve Rich- St. Minne- Kansas San Total Boston York delohia* land mond Atlanta Chicago * Louis aoolis City Dallas Francisco. (In millions of dollars) A S S E TS Gold certificate account 11,544 960 2,879 598 921 974 518 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 336 24 25 18 40 31 41 19 24 13 42 17 42 Loans 1,129 87 78 190 46 141 59 225 83 38 59 104 19 Acceptances: Bought outright — *•- — -- -- -- -- — -- — — -- Held under repurchase agreements 70— 8• -- 708 -- -- .-- — -- -- «r — — -- Federal Agency obligations— Bought outright 7,487 348 1,821 375 623 613 339 1,194 306 180 307 389 992 Held under repurchase agreements 1/ 364 -- 364 -- -- -- — -- -- -- -- — -- U.S. Government securities: Bought outright— ' Bills 37,623 1,750 9,152 1,885 3,131 3,080 1,702 6,000 1,537 903 1,542 1,953 4,988 Certificates —. — — — — -- — — -- — — -- ~ Notes 55,392 2,578 13,475 2,774 4,610 4,536 2,506 8,834 2,262 1,329 2,269 2,876 7,343 Bonds 12,525 583 3,047 627 1,042 1,026 566 1,998 511 301 513 650 1,661 Total bought outright 2/ 105,540 4,911 25,6 74 5,286 8,783 8,642 4,774 16,832 4,310 2,533 4,324 5,479 -/13,992 Held under repurchase agreements \J 1,244 — 1.244 — -- -- -- — -- -- • -- — — Total U.S. Government securities 106,784 4,911 26,918 5,286 8,783 8,642 4,774 16,832 4,310 2,533 4,324 5,479 13,992 Total loans and securities 116,472 5,346 29,889 5,851 9,452 9,396 5,172 18,251 4,699 2,751 4,690 5,972 15,003 Cash items in process of collection 17,926 506 4,121 947 984 2,132 1,891 1,864 715 595 1,404 872 1,895 Bank premises 395 107 10 55 23 80 22 16 13 28 19 12 10 Other assets V 5,241 194 1,225 237 387 349 329 850 168 141 195 395 771 Interdistrict settlement account -0- - 224 + 487 -1,229 - 296 299 -1,075 +1,304 - 55 • 342 + 172 + 496 4-1,061 TOTAL 153,214 6,980 38,966 6,546 11,623 12,779 6,949 24,282 6,085 3,445 6,995 8,330 20,234 \J Does not include U.S. Government and Federal Agency securities resold under matches sale-purchase transactions to foreign official and international accounts, of which $-0- million was outstanding at the end of the latest statement week. 2J Net of $1,422 million matches sale-purchase transactions outstanding at the end of the latest statement week. Includes $232 million securities loaned—fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. 4/ Includes securities loaned to other Reserve Banks. * Estimated (Philadelphia, Richmond and Chicago Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis