H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and .f^Ute^-* Condition Statement of F.R. Banks H.4.1 For immediate release March 8, 1979 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, March 7, "FeF. 28 |March 8, March 7, and related items 1979* 1979 1978 1979* Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 1/ 103,594 +2,496 + 6,319 2/ 96,558 Held under repurchase agreements 302 + 302 52 Federal Agency obligations-- Bought outright 7,484 3 - 498 7,464 Held under repurchase agreements 14 + 14 25 Acceptances— Bought outright Held under repurchase agreements 93 93 6 6 Loans— Total member bank borrowing 1,026 - 58 + 631 2,041 Includes seasonal borrowing of: 107 - 16 + 60 101 Other borrowing Float 7,846 -3, 800 + 3,127 8,046 Other F.R. assets 6,121 +1 ,458 + 4,148 6,120 Total Reserve Bank credit 126,480 + 502 +13,717 120,229 Gold Stock 11,544 -- - 174 11,544 Special Drawing Rights certif. acct. 1,300 -- + 50 1,300 Treasury currency outstanding 12,013 + 30 + 566 12,025 151,337 + 532 +14,159 145,098 Currency in circulation 111,381 + 327 + 9,909 112,016 Treasury cash holdings 297 - 29 94 J 290 Treasury deposits with F.R. Banks 3,807 + 147 - 471 2,512 Foreign deposits with F.R. Banks 270 + 1 60 276 Other deposits with F.R. Banks 923 + 83 + 286 j 883 Other F.R. liabilities and capital 4,224 - 497 + 621 4,122 120,902 + 32 +10,192 120,099 Member bank reserves: With Federal Reserve Banks 30,435 + 500 + 3,967 24,999 Currency and coin 9,823 + 80 + 712 9,823 Total reserves held 3/ 40,392 + 580 + 4,728 34,956 Required reserves 40,227 + 580 + 4,827 40,227 Excess reserves 3/ 165 -- 99 - 5,271 NOTE: A net of $37 million of surplus reserves were eligible to be carried forward from the week ended February 28, into the week ending March 7. On March 7, 1979, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $94,531 million, a decrease of $80 million for the week. 1/ Net of $3,202 million, daily average, matched sale-purchase transactions out standing during the latest statement week, of which $1,509 million was with foreign official and international accounts. Includes securities loaned— fully secured by U.S. Government securities. 2/ Net of $10,123 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which $1,351 million was with foreign official and international accounts. Includes $84 million securities loaned-fully secured by U.S. Government securities. 3/ Adjusted to include $134 million waivers of penalties for reserve deficiencies 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 March 7, Feb. 28, March 8, A S S E TS 1979** 1979 1978 Gold certificate account 11,544 - 174 Special Drawing Rights certif. acct. * 1,300 — + 50 Coin 343 1 + 11 Loans 2,041 + 437 +1,258 Acceptances—Bought outright Held under repurchase agreements Federal Agency obligations«>-Bought outright 7,464 23 - 518 Held under repurchase agreements .1/ U.S. Government securities: Bought outright— Bills 28,539 -6,928 -7,712 Certificates Notes 54,662 — +4,146 Bonds 13,357 — +3,959 Total bought outright £/ 96,558 -6,928 + 393 Held under repurchase agreements l/ -- -- — Total U.S. Government securities 96,558 -6,928 + 393 Total loans and securities 106,063 -6,514 +1,133 Cash items in process of collection (1,635) 14,303 - 482 +2,379 Bank premises 395 + 12 Other assets V 5,725 +1,549 +4,113 TOTAL ASSETS (1,635) 139,673 -5,448 +7,524 L I A B I L I T I ES Federal Reserve notes 100,624 + 625 +9,299 Deposits: Member bank-reserves account 24,999 -4,281 - 444 U.S. Treasury—general account 2,512 - 931 -2,071 Foreign 276 - 67 - 27 Other 883 + 104 + 202 Total deposits 28,670 -5,175 -2,340 Deferred availability cash items (1,635) 6,257 - 341 + 202 Other liabilities and accrued dividends 1,774 - 85 + 255 TOTAL LIABILITIES (1,635) 137,325 -4,976 +7,416 C A P I T AL A C C O U N TS Capital paid in 1,089 + 1 + 45 Surplus 1,073 — + 49 Other capital accounts 181 - 473 + 14 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 $10,123 million matched sale-purchase transactions outstanding at: the end of the latest statement week. Includes $84 million securities loaned— fully secured by U.S. Government securities. 2/ 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. MARCH 7. 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 2,004 2,681 - .403 40 r74 16 days to 90 days 37 9,563 -6,983 395 +51 91 days to 1 year 26,663 + 799 1,098 — Over 1 year to 5 years 34,208 - 341 3,553 — Over 5 years to 10 years 11,875 — 1,568 — Over 10 years 11,568 — 881100 — Total 2,041 96,558 -6,928 77,,446644 -23 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 MARCH 7, 1979 New Phila Cleve Rich * St. Minne Kansas 7 San Total Boston York delphia land mond Atlanta Chicago Louis apolis Citv Dallas iFranelsco (In millions of dollars) A S S E TS Gold certificate account 11,544 960 2,729 698 921 1,134 518 1,763 616 231 575 509 890 Special Drawing Rights certif. acct. 1,300 67 330 69 112 116 51 215 55 28 48 57 152 Coin 343 24 22 22 44 33 30 21 23 17 46 17 44 Loans 2,041 138 532 154 33 96 18 369 75 54 56 158 358 Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations— Bought outright 7,464 347 1,816 374 621 611 338 1,190 305 179 306 387 990 Held under repurchase agreements J7 U.S. Government securities: Bought outright— Bills 28,539 1,328 6,943 1,429 2,375 2,337 1,291 4,552 1,166 684 1,170 1,481 3,783 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 Bonds 13,357 622 3,249 669 1,112 1,094 604 2,130 545 321 547 693 1,771 Total bought outright 2/ 96,558 4,494 23,489 4,836 8,036 7,907 4/4.367 15,400 3,943 -/2,317 3,956 5,012 -il,801 Held under repurchase agreements 1/ Total U.S. Government securities 96,558 4,494 23,489 4,836 8,036 7,907 4,367 15,400 3,943 2,317 3,956 5,012 12,801 Total loans and securities 106,063 4,979 25,837 5,364 8,690 8,614 4,723 16,959 4,323 2,550 4,318 5,557 14,149 Cash items in process of collection 15,938 437 2,644 386 878 1,475 1,990 2,267 690 750 1,387 1,054 1,980 Bank premises 395 106 10 55 23 80 23 16 13 28 19 12 10 Other assets 3/ 5,725 194 1,340 310 440 337 500 812 175 160 224 305 928 Interdistrict settlement account -0- - 522 +1,425 - 507 + 6 + 259 -1,132 - 280 + 191 - 471 + 339 + 530 + 162 TOTAL 141,308 6,245 34,337 6,397 11,114 12,048 6,703 21,773 6,086 3,293 6,956 8,041 18,315 * 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 $10,123 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $84 million securities loaned—fully secured by U.S. Government securities. £/ Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. 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 RANK ON MARCH 7, 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 100,624 5,125 25,768 5,063 8,453 9,113 3,357 16,915 4,520 1,811 4,315 4,925 11,259 Deposits: Member bank reserves 24,999 555 5,657 776 1,701 1,339 1,862 3,253 805 682 1,189 2,020 5,160 U.S. Treasury—general account 2,512 136 27 149 195 221 266 248 164 127 284 202 493 Foreign 276 6 126 8 17 11 15 31 6 6 9 12 29 Other 883 1 780 * 1 24 44 7 1 2 2 9 12 Total deposits 28,670 698 6,590 933 1,914 1,595 2,187 3,539 976 817 1,484 2,243 5,694 Deferred availability cash items 7,892 282 855 234 429 1,091 908 737 406 557 1,001 659 733 Other liabilities and accrued dividends 1/ 1,774 65 522 68 117 119 80 226 109 35 57 77 299 TOTAL LIABILITIES 138,960 6,170 33,735 6,298 10,913 11,918 6,532 21,417 6,011 3,220 6,857 7,904 17,985 CAPITAL ACCOUNTS Capital paid in 1,089 33 280 45 93 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 181 9 42 10 16 15 8 29 8 4 7 10 23 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 141,308 6,245 34,337 6,397 11,114 12,048 6,703 21,773 6,086 3,293 6,956 8,041 18,315 FEDERAL RESERVE AGENTS1 ACCOUNTS F.R. notes outstanding 108,866 5,125 26,178 5,063 9,071 9,841 4,757 17,879 4,941 2,293 4,927 5,700 13,091 Collateral for F.R. notes: Gold certificate account 11,544 960 2,729 698 921 1,134 518 1,763 616 231 575 509 890 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 o e ve r p n a m p e e n r t securities 94 1 , ,8 1 3 8 8 4 3,9 1 7 26 2 22, 4 65 6 9 0 4,1 1 4 5 4 2 8,00 33 5 ££22//// 88 ,,55 88 11 11 00 4,17 1 0 8 -- 22 77 // 11 55,, 33 55 66 44 11 00 -- 22 '' // 44 ,,22 33 33 33 77 1,98 4 7 7 -- 22 '' // 44 ,,22 55 55 11 33 4,9 1 9 3 6 8 11. 3 7 3 1 8 1 Total collateral 108,866 5,125 26,178 5,063 9,071 9,841 4,757 17,879 4,941 2,293 4,927 5,700 13,091 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 (Atlanta District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis