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 March 22, 1979 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, March 21, March 14, March 22, March 21, and related items 1979 1979 1978 1979 Reserve Bank credit: (In millions of dollars) U.S. Government securities- Bought outright—System account 1/ 104,905 + 1,763 + 5,320 2/ 97,142 Held under repurchase agreements 1,136 + 167 - 234 "" Federal Agency obligations-- Bought outright 7,464 -- _ 471 7,464 Held under repurchase agreements 392 + 173 - 7 -- Acceptances-- Bought outright Held under repurchase agreements 260 - 1 - 118 -- Loans- Total member bank borrowing 1,023 + 141 + 743 1,838 Includes seasonal borrowing of: 123 + 15 + 76 130 Other borrowing Float 5,529 - 319 + 1,428 6,619 Other F.R. assets 6,407 + 274 + 3,995 6,509 Total Reserve Bank credit 127,116 + 2,198 +10,656 119,572 Gold Stock 11,506 - 34 - 212 11,481 Special Drawing Rights certif. acct. 1,300 -- + 50 1,300 Treasury currency outstanding 12,062 + 37 + 601 12,070 151,984 + 2,201 +11,095 144,423 Currency in circulation * 111,893 _ 77 + 9,725 112,038 Treasury cash holdings * 357 -- - 38 350 Treasury deposits with F.R. Banks 2,873 + 156 - 2,521 2,106 Foreign deposits with F.R. Banks 279 - 13 + 16 225 Other deposits with F.R. Banks 852 + 135 + 55 677 Other F.R. liabilities and capital 4,440 + 131 + 292 4,304 120,694 + 333 + 7,530 119,700 Member bank reserves: With Federal Reserve Banks 31,290 + 1,868 + 3,565 24,723 Currency and coin 9,133 - 1,266 + 675 9,133 Total reserves held 3/ 40,556 + 601 + 4,289 33,989 Required reserves "" 40,349 + 474 + 4,230 40,349 Excess reserves 3/ 6,360 NOTE: A net of $27 million of surplus reserves were eligible to be carried forward from the week ended March 14 into the week ending March 21. On March 21, 1979, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $92,591 million, a decrease of $331 million for the week. J7 Net of $3,691 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,591 million was with foreign official and international accounts. Includes securities loaned--fully secured by U.S. Government securities. 2/ Net of $11,481 million matched sale-purchase transactions, outstanding at the end of the latest statement week of which $1,581 million was with foreign official and international accounts. Includes $105 million securities loaned--fully secured by U.S. Government securities. _3/ Adjusted to include $133 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 March 21, Mar. 14, Mar. 22, A S j5 E T S 1979 1979 1978 Gold certificate account 11,481 - 51 - 237 Special Drawing Rights certif. acct. 1,300 -- + 50 Coin 369 + 1 + 40 Loans 1,838 + 402 + 1,482 Acceptances—Bought outright Held under repurchase agreements _- . 757 _ 181 Federal Agency obligations—Bought outright 7,464 -- - 465 Held under repurchase agreements 1/ -- - 890 - 260 U.S. Government securities: Bought outright—Bills 29,123 6,661 9,923 Certificates Notes 54,662 -- + 3,176 Bonds 1133,,335577 — ++__ 3,905 Total bought outright 2/ 9977,,114422 - 6,661 2,842 Held under repurchase agreements \J — -- 22,,668899 --__ 763 Total U.S. Government securities 97,142 -- 99,,335500 3,605 Total loans and securities 106,444 -10,595 - 3,029 Cash items in process of collection (3,317) 13,335 - 2,262 + 2,776 Bank premises 397 + 2 + 13 Other assets JV 6,112 + 302 + 4,178 TOTAL ASSETS (3,317) 139,438 -12,603 +_ 3,791 L I A B I L I T I ES Federal Reserve notes 100,687 271 + 3,961 Deposits: Member bank-reserves account 24,723 -10,880 - 1,696 U.S. Treasury—general account 2,106 - 1,212 - 4,583 Foreign 225 37 - 23 Other (776) 677 69 + 46 Total deposits (776) 27,731 -12,198 - 6,256 Deferred availability cash items (2,541) 6,716 + 44 + 683 Other liabilities and accrued dividends 4/ 1,601 346 + 208 TOTAL LIABILITIES (3,317) 136,735 -12,771 + 3,596 C A P I T AL A C C O U N TS Capital paid in 1,109 „ + 63 Surplus 1,078 — + 49 Other capital accounts 516 + 168 + 83 * 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 $11,481 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. 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 21, 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 1,763 4,550 -1,118 25 -865 16 days to 90 days 75 8,503 -8,157 553 - 25 91 days to 1 year 26,437 76 994 -- Over 1 year to 5 years 34,209 + 1 3,509 -- Over 5 years to 10 years 11,875 -- 1,573 -- Over 10 years 11,568 -- 881100 -- Total 1,838 97,142 -9,350 77,,446644 -890 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 21, 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 11,481 990 2,666 798 711 1,174 518 1,763 636 231 595 509 890 Special Drawing Rights certif. acct. 1,300 67 330 69 112 116 51 215 55 28 48 57 152 Coin 369 25 20 23 46 34 40 23 24 19 52 19 44 Loans 1,838 154 358 115 15 73 39 663 29 60 88 86 158 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 1' -- -- -- -- -- -- -- -•" -~ -- -- -- -- U.S. Government securities: Bought outright-- Bills 29,123 1,355 7,085 1,458 2,424 2,384 1,318 4,645 1,189 698 1,194 1,512 3,861 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/ 97,142 4,521 23,631 4,865 8,085 7,954 4,394 15,493 3,966 2,331 3,980 5,043 12,879 Held under repurchase agreements J7 -- -- -- -- -- -- -- -- -- -- — -- -- Total U.S. Government securities 97,142 4,521 23,631 4,865 8,085 7,954 4,394 15,493 3,966 2,331 3,980 5,043 12,879 Total loans and securities 106,444 5,022 25,805 5,354 8,721 8,638 4,771 17,346 4,300 2,570 4,374 .5,516 14,027 Cash items in process of collection 16,652 385 2,588 589 767 2,445 2,119 1,872 761 661 1,346 1,279 1,840 Bank premises 397 106 10 55 24 80 24 16 13 28 19 12 10 Other assets .3/ 6,112 209 1,499 325 461 350 483 850 299 196 231 332 877 Interdistrict settlement account -0- - 570 + 711 - 993 + 121 + 390 - 857 - 305 5 - 437 +1,179 + 500 + 266 TOTAL 142,755 6,234 33,629 6,220 10,963 13,277 7,149 21,780 6,083 3,296 7,844 8,224 18,106 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 $11,481 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. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 21, L979 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 100,687 5,139 25,758 5,045 8,388 9,137 3,417 16,890 4,508 1,825 4,345 4,995 11,240 Deposits: Member bank reserves 24,723 571 4,789 683 1,550 1,513 2,068 3,247 842 681 1,372 2,143 5,264 U.S. Treasury—general account 2,106 83 316 47 190 175 240 179 115 123 181 187 270 Foreign 225 6 75 8 17 11 15 31 6 6 9 12 29 Other 1,453 * 574 23 44 5 1 4 779 12 11 Total deposits 28,507 660 5,754 738 1,757 1,722 2,367 3,462 964 814 2,341 2,354 5,574 Deferred availability cash items 9,257 284 915 252 478 2,100 1,099 802 469 542 992 647 677 Other liabilities and accrued dividends 1/ 1,601 63 514 70 110 110 80 217 54 34 54 74 221 TOTAL LIABILITIES 140,052 6,146 32,941 6,105 10,733 13,069 6,963 21,371 5,995 3,215 7,732 8,070 17,712 CAPITAL ACCOUNTS Capital paid in 1,109 33 280 45 93 58 83 164 34 35 46 64 174 Surplus 1,078 33 280 44 92 57 81 163 33 34 46 63 152 Other capital accounts 516 22 128 26 45 43 22 82 21 12 20 27 68 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 142,755 6,234 33,629 6,220 10,963 13,227 7,149 21,780 6,083 3,296 7,844 8,224 18,106 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 113,627 6,057 28,546 6,214 9,031 9,918 4,912 17,754 4,974 2,324 5,007 5,748 13,142 Collateral for F.R. notes: Gold certificate account 11,481 990 2,666 798 711 1,174 518 1,763 636 231 595 509 890 Special Drawing Rights certif. acct. 300 67 330 69 112 116 51 215 55 28 48 57 152 Eligible paper 549 137 223 112 14 66 39 578 21 49 80 73 157 U.S. Govt, and Agency Securities 99,297 4,863 25,327 5,235 8,194 '8,562 4,304- 15,198 4,262 2,016 4,284 5,109 11,943 Total collateral 113,627 6,057 28,546 6,214 9,031 9,918 4,912 17,754 4,974 2,324 5,007 5,748 13,142 1/ Includes exchange translation account reflecting the monthly revaluation at market exchange rates of foreign exchange commitments. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis