H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE sM::J$i. Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 10, 1979 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, May 9, May 2, May 10, May 9, and related items 1979* 1979 1978 1979* Reserve Bank credit: (In millions of dollars) U.S. Government securities — 1/ Bought outright--System account 105,663 810 4- 2,154 103,991 Held under repurchase agreements 380 - 1,382 Federal Agency obligations-- Bought outright 7,434 30 495 7,434 Held under repurchase agreements 164 - 471 Acceptances — Bought outright Held under repurchase agreements 122 376 Loans — Total member bank borrowing 1,489 272 199 1 2,371 Includes seasonal borrowing of: 163 1 + 89 152 Other borrowing Float 6,997 + 38 4- 2,726 6,782 Other F.R. assets 6,785 4- 65 4- 3,478 6,811 Total Reserve Bank credit 128,368 - 1,131 4- 5,435 127,389 Gold Stock 11,408 - 9 310 11,382 Special Drawing Rights certif. acct. 1,300 -- 4- 50 1,300 Treasury currency outstanding 12,209 + 7 + 677 12,218 153,285 - 1,133 4- 5,852 152,289 Currency in circulation ** 113,862 4- 625 4- 9,718 114,455 Treasury cash holdings ** 398 4- 6 4- 15 400 Treasury deposits with F.R. Banks 4,134 4- 736 - 6,224 2,944 Foreign deposits with F.R. Banks 302 4- 6 134 282 Other deposits with F.R. Banks 654 - 105 4- 13 727 Other F.R. liabilities and capital 4,031 - 567 4- 148 4,108 123,381 4- 702 4- 3,535 122,916 Member bank reserves: With Federal Reserve Banks 29,904 _ 1,835 4- 2,315 29,374 Currency and coin 10,535 + __ __571 4- 1,020 10,535 Total reserves held 3/ 40,564 1,264 4- 3,381 i 40,034 Required reserves ~~ 40,539 1,115 4- 3,539 40,539 Excess reserves 3/ 25 149 NOTE: A net of $89 million of surplus reserves were eligible to be carried forward from the week ended May 2, into the week ending May 9. On May 9, 1979, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $81,774 million a decrease of $2,128 million for the week. 1/ Net of $3,299 million, daily average, matched sale-purchase trans actions outstanding during the latest statement week, of which $1,701 million was with foreign official and internafional accounts. Includes securities loaned —fully secured by U.S. Government securities. 2/ Net of $4,971 million matched sale-purchase transactions out standing at the end of the Latest statement week,of which $1,995 million was with foreign official and international accounts.. Includes $57 million securities loaned—fully secured by U.S. Government securities. 3/ Adjusted to include $125 million waivers,'of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Cleveland 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 May 9, May 2, May 10, A S S E TS 1979** 1979 1978 Gold certificate account 11,382 - 34 - 336 Special Drawing Rights certif. acct. 1,300 — + 50 Coin 400 + 8 + 97 Loans 2,371 + 699 +1,184 Acceptances--Bought outright -- -- — Held under repurchase agreements -- .- - 638 Federal Agency obligations—Bought outright 7,434 - 30 - 495 Held under repurchase agreements J7 -- -- - 989 U.S. Government securities: Bought outright--Bills 35,972 -1,240 -4,292 Certificates Notes 54 662 +2,152 Bonds 13 ,357 +3,664 Total bought outright 27 103 991 -1,240 + 1,524 Held under repurchase agreements 1/ -2,414 Total U.S. Government securities 103,991 -1,240 - 890 Total loans and securities 113,796 - 571 -1,828 Cash items in process of collection (2,245) 13,141 -3,780 +2,838 Bank premises 397 -- + 10 Other assets jty 6,414 + 204 +3,888 TOTAL ASSETS 146,830 -4,173 +4,719 L I A B I t l l l lS Federal Reserve notes 03,036 + 690 +9,175 Deposits: Member bank-reserves account 29,374 -1,894 + 118 U.S. Treasury--general account 2,944 -1,625 -4,987 Foreign 282 22 - 302 Other 727 + 40 + 42 Total deposits 33,327 -3,501 -5,129 Deferred availability cash items (2,245) 6,359 -1,503 + 386 Other liabilities and accrued dividends 4/ 1,653 - 29 + 146 TOTAL LIABILITIES (2,245) 144,375 -4,343 +4,578 C A P I T AL ACCOUNTS Capital paid in 1,117 + 1 + 67 Surplus 1,078 — + 49 Other capital accounts 260 + 169 + 25 Figures in parentheses are the eliminations made in the consolidating process. Estimated (Cleveland and Chicago Districts). 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 $4,971 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $57 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, MAY 9, 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 1 changes changes Within 15 days 2,278 3,322 - 389 — -30 16 days to 90 days 93 15,149 -1,081 644 +40 91 days to 1 year 28,234 + 230 937 -40 Over 1 year to 5 years 33,843 „- 3,507 -- Over 5 years to 10 years 11,875 — 1,571 -- Over 10 years 11,568 .- 777755 ... m Total 2,371 103,991 -1,240 77,,443344 -30 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 MAY 9, 1979 New Phila Cleve- Rich- St. Minne Kansas San Total Bo9ton York delphia 1 and * mond Atlanta Chicago ,* Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 11,382 837 2,862 924 801 958 475 1,756 474 231 473 501 1,090 Special Drawing Rights certif. acct• 1,300 67 330 69 112 116 51 215 55 28 48 57 152 Coin 400 26 21 25 49 41 36 26 27 24 55 22 48 Loans 2,371 167 124 208 72 149 90 667 195 111 82 254 252 Acceptances: Bought outright -- -- -- -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations— Bought outright 7,434 360 1,832 356 597 609 308 1,180 316 165 328 405 978 Held under repurchase agreements 1/ -- -- -- -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright— Bills 35,972 1,740 8,867 1,719 2,890 2,946 1,491 5,708 1,531 800 1,587 1,960 4,733 Certificates -- -- -- -- -- -- -- -- -- -- -- ~ -- Notes 54,662 2,644 13,473 2,614 4,391 4,477 2,265 8,675 2,326 1,215 2,413 2,978 7,191 Bonds 13,357 646 3,292 639 1,073 1,094 553 2,120 568 297 590 728 1,757 Total bought outright ZJ 103,991 5,030 25,632 4,972 8,354 8,517 4,309 16,503 4,425 2,312 4,590 5,666 13,681 Held under repurchase agreements 1/ -- -- -- -- -- -- -- -- -- -- -- -- -- Total U.S. Government securities 103,991 5,030 25,632 4,972 8,354 8,517 4,309 16,503 4,425 2,312 4,590 5,666 13,681 Total loans and securities 113,796 5,557 27,588 5,536 9,023 9,275 4,707 18,350 4,936 2,588 5,000 6,325 14,911 Cash items in process of collection 15,386 260 1,636 510 953 2,137 1,996 1,867 622 665 1,393 950 2,397 Bank premises 397 106 10 55 23 80 25 16 13 28 19 12 10 Other assets 3/ 6,414 237 1,517 388 501 443 453 945 226 184 259 363 898 Interdistrict settlement account -0- - 392 +2,332 - 865 - 203 + 236 - 563 - 369 - 295 - 406 + 11 + 133 + 381 TOTAL 149,075 6,698 36,296 6,642 11,259 13,286 7,180 22,806 6,058 3,342 7,258 8,363 19,887 \_l Does not include U.S. Government and Federal Agency securities resold under matched sale-purchase transi*c tions to foreign official and international accounts, of which $-0- million was outstanding at the end of the latest statement week. 2/ Net of $4,971 million matched sale-purchase transactions outstanding at the end of the latest statementw eek. Includes $57 million securities loaned--fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies; revalued monthly at market exchange rates. * Estimated (Cleveland and Chicago Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON May 9, 1979 H.4.1(c) Phila * St. Minne Kansas San •k 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 103,036 5,335 26,442 5,146 8,566 9,471 3,284 17,179 4,583 1,878 4,484 5,132 11,536 Deposits: Member bank reserves 29,374 717 6,781 930 1,565 1,404 2,277 3,704 784 721 1,451 2,272 6,768 U.S. Treasury—general account 2,944 215 601 175 236 228 275 323 123 140 160 181 287 Foreign 282 9 74 12 24 15 21 42 8 9 12 16 40 Other 727 625 16 47 6 1 2 1 9 20 Total deposits 33,327 941 8,081 1,117 1,825 1,663 2,620 4,075 916 872 1,624 2,478 7,115 Deferred availability cash items 8,604 269 833 204 537 1,849 1,004 920 415 478 979 524 592 Other liabilities and accrued dividends 1/ 1,653 76 324 75 127 168 95 265 66 39 68 86 264 TOTAL LIABILITIES 146,620 6,621 35,680 6,542 11,055 13,151 7,003 22,439 5,980 3,267 7,155 8,220 19,507 CAPITAL ACCOUNTS Capital paid in 1,117 33 280 45 94 58 84 167 34 35 47 65 175 Surplus 1,078 33 280 44 92 57 81 163 33 34 46 63 152 Other capital accounts 260 11 56 11 18 20 12 37 11 6 10 15 53 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 149,075 6,698 36,296 6,642 11,259 13,286 7,180 22,806 6,058 3,342 7,258 8,363 19,887 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 115,759 6,357 29,177 5,977 9,171 10,333 4,842 18,421 5,020 2,348 4,994 5,842 13,277 Collateral for F.R. notes: Gold certificate account 11,382 837 2,862 924 801 958 475 1,756 474 231 473 501 1,090 Special Drawing Rights certif. acct. 1,300 67 330 69 112 116 51 215 55 28 48 57 152 Eligible paper 1,969 160 124 159 72 138 77 573 122 96 76 234 138 US Government and agency securities 101,108 5,293 25,861 4,825 8,186 9,121 4,239 15,877 4,369 1,993 4,397 5,050 11,897 4 S Total collateral 115,759 6,357 29,177 5,977 9,171 10,333 4,842 18,421 5,020 2,348 4,994 5,842 13,277 1/ Includes exchange translation account reflecting the monthly revaluation at market exchange rates of foreign exchange commitments. * Estimated (Cleveland and Chicago Districts). • t Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis