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 February 22, 1979 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Feb. 21, Feb. 14, Feb. 22, Feb. 21, and related items 1979* 1979 1978 1979* Reserve Bank credit: (In millions of dollars) U.S. Government securities-- 1/ 2/ Bought outright—System account 102,384 •1,605 + 3,867 - 95,833 Held under repurchase agreements • 319 - 1,028 Federal Agency obligations-- Bought outright 7,487 - 495 7,487 Held under repurchase agreements 73 137 Acceptances— Bought outright Held under repurchase agreements - 181 135 Loans— Total member bank borrowing 937 - 117 + 491 1>018 Includes seasonal borrowing of: 121 + 10 + 68 123 Other borrowing Float 12,151 +5,631 + 7,273 12,137 Other F.R. assets 4,376 -1,129 + 2,253 4,618 Total Reserve Bank credit 127,335 +2,207 +12,088 121,093 Gold Stock 11,544 -- - 174 11,544 Special Drawing Rights certif. acct. 1,300 — + 50 1,300 Treasury currency outstanding 11,969 + 38 + 540 11,969 152,148 +2,245 +12,503 145,906 Currency in circulation ** 111,168 + 102 + 9,766 111,422 Treasury cash holdings ** 290 + 40 100 290 Treasury deposits with F.R. Banks 3,527 + 382 - 1,143 3,135 Foreign deposits with F.R. Banks 286 + 25 + 20 315 Other deposits with F.R. Banks 879 - 59 + 211 752 Other F.R. liabilities and capital 4,394 + 230 + 181 4,385 120,544 + 720 + 8,935 120,299 Member bank reserves: With Federal Reserve Banks 31,604 +1,524 + 3,569 25,607 Currency and coin 9,345 -1,213 + 791 9,345 Total reserves held 3/ 41,085 + 311 + 4,413 35,088 Required reserves 40,536 - 64 + 4,156 40,536 Excess reserves 3/ 549 + 375 + 257 - 5,448 NOTE: A net of $61 million of surplus reserves were eligible to be carried forward from the week ended February 14, into the week ending February 21. On February 21, 1979, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $94,339 million, a decrease of $549 million for the week. 1/ Net of $4,680 million, daily average, matched sale-purchase transactions out standing during the latest statement week, of which $1,904 million was with foreign official and international accounts. Includes securities loaned— fully secured by U.S. Government securities. 2/ Net of $11,231 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which $1,496 million was with foreign official and international accounts. Includes $105 million securities loaned—fully secured by U.S. Government securities. 3/ Adjusted to include $136 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Richmond, Atlanta and San Francisco 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. 21, Feb. 14, Feb. 22, A S S E TS 1979** 1979 1978 Gold certificate account 11,544 -_ - 174 Special Drawing Rights certif. acct. * 1,300 --. + 50 Coin 340 + 4 + 1 Loans 1,018 - 111 •f 700 Acceptances—Bought outright Held under repurchase agreements -. _ 708 - 453 Federal Agency obligations--Bought outright 7,487 — - 495 Held under repurchase agreements 1/ — - 364 - 464 U.S. Government securities: Bought outright—Bill8 27,814 - 9,809 -10,316 Certificates Notes 54,662 730 +4,146 Bonds 13,357 832 + 3,959 Total bought outright 2/ 95,833 - 9,707 - 2,211 Held under repurchase agreements JL/ - 1,244 - 3,238 Total U.S. Government securities 95,833 -10,951 - 5,449 Total loans and securities 104,338 -12,134 - 6,161 Cash items in process of collection (2,117) 20,343 + 4,128 + 4,965 Bank premises 394 1 + 13 Other assets jfy 4,224 - 769 + 2,632 TOTAL ASSETS (2,117) 142,483 - 8,772 + 1>326 L I A B I L I T I ES Federal Reserve notes 100,083 + 12 + 9,192 Deposits: Member bank-reserves account 25,607 -10,069 - 6,975 U.S. Treasury-general account 3,135 - 141 - 696 Foreign 315 + 3 + 4 Other (6) 752 - 150 + 85 Total deposits (6) 29 ,809 -10,357 - 7,582 Deferred availability cash items . (2,111) 8 ,206 + 1,272 - 762 Other liabilities and accrued dividends 4/ 1;LZ .15 4- 156 + 298 TOTAL LIABILITIES (2,117) 139,813 - 8,917 + 1,146 C A P I T AL A C C O U N TS Capital paid in 1,088 + 1 + 47 Surplus 1,078 -.. + 49 Other capital accounts 504 + 144 + 84 Estimated (Richmond, Atlanta and San Francisco Districts). 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 $11,231 million matches sale-purchase transactions outstanding at the end of the latest statement week. Includes $105 million securities loaned-fully secured by U.S. Government securities. V 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. FEBRITAKV 21, 1Q7Q (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 981 1,957 - 3,778 355 -341 16 days to 90 days 37 9,474 - 8,650 182 - 23 91 days to 1 year 26,778 + 1,373 1,154 — Over 1 year to 5 years 34,181 + 2,178 3,475 — Over 5 years to 10 years 11,875 - 2,906 1,511 — Over 10 years 11,568 + 832 810 -- Total 1,018 95,833 -10,951 7,487 -364 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 21, 1979 New Phila- Cleve- Rich- St. Minne Kansas San * Total Boston York delphia land 1 mond * Atlanta * Chicago Louis apolis City Dallas Franciso (In millions of d ollars) A S S E TS Gold certificate account 11,544 960 2,729 698 921 974 518 1,763 516 231 425 509 1,300 Special Drawing Rights certif. acct. 1,300 67 330 69 112 116 51 215 55 28 48 57 152 Coin 340 23 23 19 41 31 41 20 24 15 42 17 44 Loans 1,018 155 88 114 30 34 26 115 66 32 61 134 163 Acceptances: Bought outright -•" •""* -•" ~~ ~*~ ~"" — ** ~- "" "" ~ — —— Held under repurchase agreements ~~ ~~ ~ — "*"* ""•* —— ~ — -- ~" -— 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/ -- -- -" -- -- 4 -- — - ~"~ -- -- U.S. Government securities: Bought outright— Bills 27,814 1,294 6,766 1,393 2,315 2,277 1,259 4,436 1,136 667 1,140 1,444 3,687 Certificates -- -- -- -- -- -- -- — -- — -- -- -- Notes 54,662 2,544 13,297 2,738 4,549 4,476 2,472 8,718 2,232 1 ,312 2,239 2,838 7,247 BBoonnddss 13,357 622 3,249 669 1,112 1,094 604 2,130 545 321 547 693 1,771 4>I 4/ TToottaall bboouugghhtt oouuttrriigghhtt 22// 95,833 4,460 23,312 4,800 7,976 7,847 4,335 15,284 3,913 ,300 3,926 4,975 -12,705 HHHeeelllddd uuunnndddeeerrr rrreeepppuuurrrccchhhaaassseee aaagggrrreeeeeemmmeeennntttsss 111/// -- -- -- -- -- -- -- .. -- -- -- -- -- TTToootttaaalll UUU...SSS... GGGooovvveeerrrnnnmmmeeennnttt ssseeecccuuurrriiitttiiieeesss 95,833 4,460 23,312 4,800 7,976 7,847 4,335 15,284 3,913 2 ,300 3,926 4,975 12,705 TTToootttaaalll llloooaaannnsss aaannnddd ssseeecccuuurrriiitttiiieeesss 104,338 4,963 25,221 5,289 8,629 8,494 4,700 16,593 4,285 2 ,512 4,294 5,498 13,860 Cash items in process of collection 22,460 704 4,597 860 1,670 2,293 2,643 2,959 1,109 824 1,785 1,328 1,688 BBaannkk pprreemmiisseess 394 106 10 55 23 80 22 16 13 28 19 12 10 OOtthheerr aasssseettss IIff 4,224 153 937 206 307 430 299 601 140 115 153 220 663 IInntteerrddiissttrriicctt sseettttlleemmeenntt aaccccoouunntt -0- - 410 + 989 - 647 - 608 + 68 -1,520 + 527 11 - 345 + 301 + 927 4- 729 TTOOTTAALL 144,600 6,566 34,836 6,549 11,095 12,486 6,754 22,694 6,131 3 ,408 7,067 8,568 18,446 * Estimated (Richmond, Atlanta and San Francisco Districts). JY 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 $11,231 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $105 million securities loaned—fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Tic I 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 FEBRUARY 21, 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 100,083 5,107 25,903 5,036 8,459 8,889 3,111 16,914 4,483 1,812 4,245 4,804 11,320 Deposits: Member bank reserves 25,607 820 5,154 610 1,475 1,227 1,867 3,872 746 661 1,295 2,648 5,232 U.S. Treasury—general account 3,135 129 570 230 163 321 369 204 197 209 163 197 383 Foreign 315 6 165 8 17 11 15 31 6 6 9 12 29 Other 758 663 * 1 18 45 2 7 2 3 8 9 Total deposits 29,815 955 6,552 848 1,656 1,577 2,296 4,109 956 878 1,470 2,865 5,653 Deferred availability cash items 10,317 350 1,220 480 643 1,745 1,080 1,039 504 602 1,176 674 804 Other liabilities and accrued dividends 1/ 1,715 62 482 70 112 128 79 228 99 34 62 73 286 TOTAL LIABILITIES 141,930 6,474 34,157 6,434 10,870 12,339 6,566 22,290 6,042 3,326 6,953 8,416 18,063 CAPITAL ACCOUNTS Capital paid in 1,088 33 280 45 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 504 26 119 26 41 32 25 77 22 13 22 25 76 TOTAL LIABILITIES AND CAPITAL ACCOUNTS | 144,600 j 6,566 34,836 6,549 11,095 12,486 6,754 22,694 6,131 3,408 7,067 8,568 18,446 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 106,883 5,108 27,665 5,036 8,919 9,259 4,267 18,018 4,764 1,875 4,754 5,493 11,725 Collateral for F.R. notes: Gold certificate account 11,544 960 2,729 698 921 974 518 1,763 516 231 425 509 1,300 Special Drawing Rights certif. acct. 1,300 67 330 69 112 116 51 215 55 28 48 57 152 E U l . i S g . i b G l ov e e r p n a m p e e n r t securities 93,1 8 6 7 7 2 3,9 1 6 17 4 -- 22// 22 44,,55 88 11 88 88 4,1 1 5 1 6 3 7,85 3 6 0 -- 22 77 // 88 ,,11 22 44 77 22 3,6 2 7 6 2 -- 22 '' // 11 55,, UU 99 00 33 00 -- 22 '' // 44 ,,11 22 66 44 99 1,58 3 4 2 -- 22// 44 ,,2233 55II 00 4,8 1 1 1 1 6 10,1 1 3 3 5 8 Total collateral 106,883 5,108 27,665 5,036 8,919 9,259 4,267 18,018 4,764 1,875 4,754 5,493 11,725 1/ Includes exchange translation account reflecting the monthly revaluation at market exchange rates of foreign exchange commitments. 2/ Includes securities borrowed from other Reserve Banks. * Less than $500,000. ** Estimated (Richmond, Atlanta and San Francisco Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis