H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•ofGowA- FEDERAL RESERVE Factors Affecting Reserves of Depository Institutions and Condition Statement of F.R. Banks H.4.1. For immediate release February 5, 1982 Averages of daily figures (millions of dollars) RReesseerrvveess ooff ddeeppoossiittoorryy iinnssttiittuuttiioonnss,, WWeeeekk eennddeedd Change from week ended WWeeddnneessddaayy RReesseerrvvee BBaannkk ccrreeddiitt,, aanndd rreellaatteedd iitteemmss FFeebbrruuaarryy 33,, January 27, : February 4, FFeebbrruuaarryy 33,, 11998822** 1Q&7 1981 11QQ8822** Reserve Bank credit: 1 2 U.S. government securities- Bought outright-system account 125,340 + 549 + 8,603 125,588 Held under repurchase agreements 3,676 + 2,324 + 3,676 7,354 Federal agency obligations- Bought outright 9,056 2 + 317 9,054 Held under repurchase agreements 150 + 105 + 150 406 Acceptances- Bought outright Held under repurchase agreements 466 + 280 + 466 596 Loans to depository institutions 1,847 624 + 646 1,800 Includes: seasonal borrowing of 110 + 14 15 113 extended credit of 212 + 13 + 212 218 Float 2,729 815 318 3,899 Other F.R. assets 9,598 17 309 9,718 Total Reserve Bank credit 152,863 + 1,800 + 13,231 158,415 Gold stock 11,151 8 11,151 Special Drawing Rights certificate account 3,389 + 71 + 871 3,568 Treasury currency outstanding 13,705 + 67 13,705 181,108 + 1,871 + 14,161 186,839 Currency in circulation** 139,956 490 + 8,817 140,417 Treasury cash holdings** 450 + 1 1+ 5 450 Treasury deposits with F.R. Banks 7,863 !+ 1,716 !+ 4,575 5,576 Foreign deposits with F.R. Banks 314 1+ 22 88 274 Other deposits with F.R. Banks 475 + 27 26 516 Required clearing balances 135 + 4 + 135 135 Other F.R. liabilities and capital 5,473 |+ 204 '+ 873 ! 5,428 154,666 |+ 1,485 + 14,291 152,796 Reserve balances with F.R. Banks3 itm 1+ 388 j; 1.48 34,043 Total vault cash 557 20,450 (a) Vault cash at institutions with required reserve balances 14,040 443 |+ 973 14,040 (b) Vault cash equal to required reserves at other institutions 2,239 26 + 1,539 2,239 (c) Surplus vault cash at other institutions4 4,171 88 1,047 4,171 Reserve balances + total vault cash3*5 46,909 169 + 1,242 54,509 Reserve balances + total vault cash used to satisfy reserve r ft 42,738 81 + 2,289 50,338 requirements ' 42,332 371 + 2,111 42,332 Required reserves 7 406 [+ 290 + 178 8,006 Excess reserve balances at F.R. Banks5, ® On February 3, 1982 t marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and inter national accounts were $ 92,265 million, a decrease of $3,268 million for the week. 1 Net of $ 2,014 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $2,014 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2 Net of $ 1,765 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 1,765 million was with foreign official and international accounts. Includes $ 373 million securities loaned—fully secured by U.S. Government securities. 3 Exclude required clearing balances. 4 Total vault cash at institutions without required reserve balances less vault cash equal to their required reserves. 5 Adjusted to include $ 16 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19,1975. 6 Reserve balances with Federal Reserve Banks (which exclude required clearing balances) plus vault cash at institutions with required reserve balances plus vault cash equal to required reserves at other institutions. 7 Beginning with the week ended December 23, 1981, reserves aggregates have been reduced by shifts of reservable liabilities to International Banking Facilities (IBFs). On the basis of reports of liabilities transferred to IBFs by U.S. commercial banks and U.S. agencies and branches of foreign banks, it is estimated that the cumulative effect through the week of February 3 was to lower required reserves by $180 to $230 million. 8 Reserve balances with Federal Reserve Banks (which exclude required clearing balances) plus vault cash used to satisfy reserve requirements less required reserves. (This measure of excess reserves is comparable to the old excess reserve concept published historically.) Estimated (Dallas 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 Millions of dollars Change since * Febru W a e ry d ne 3 s , d ay 1 98 * 2 * Wednesday Wednesdc iy January 27. 1982 Februarv 4 1981 ASSETS Gold certificate account 11,151 8 Special Drawing Rights certif. acct. 3,568 + 250 + 1 050 Coin 416 + 6 - 49 Loans 1,800 - 3,309 + 1 ,048 Acceptances- 596 228 596 Held under repurchase aggreements Federal agency abligations— 9,054 - 3 + 315 Bought outright 406 + 304 + 406 U.S H . e g ld o v u e n r d n e m r e r n e t p s u e rc c h u a r s it e ie s a : g reements 1 47,209 _ 953 + 5,641 Bought outright—Bills 59,978 — + 1,260 Notes 1188,,440011 — ++ 1,508 Bonds 112255,,558888 - 953 ++ 8,409 Total bought outright 2 7,354 + 4 ,848 + 7,354 Held under repurchase agreements 1 132,942 + 3 .895 + 15.763 Total U.S. government securities 144,798 + 1 ,115 + 18,128 Total loans and securities (2,290 ) 10,337 + 3 ,354 + 767 Cash items in process of collection 502 — + 44 Bank premises 9,216 + 73 - 526 Other assets 3 (2,290 ) 179,988 +_ 4 ,798 + 19,406 TOTAL ASSETS LIABILITIES Federal Reserve notes 127,578 69 ,705 Deposits: Depository institutions 34,178 + 4,744 + 7,702 5,576 - 1,593 + 1,507 U.S. Treasury—general account Foreign—official accounts 274 - 72 - 4 Other ( 6 ) 516 + 79 + 84 Total deposits ( 6 ) 40,544 + 3,158 + 9,289 Deferred availability cash items (2,284 ) 6,438 + 1,187 + 415 Other liabilities and accrued dividends 4 2,636 + 440 + 758 TOTAL LIABILITIES (2,290 ) 177,196 + 4,854 + 19,167 CAPITAL ACCOUNTS Capital paid in 1,287 + 1 + 78 Surplus 1,278 — + 75 Other capital accounts 227 - 57 + 86 * 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 $ i,765million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 373 million securities loaned—fully secured by U.S. government securities. 3 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $ 46 million in Treasury Bills maturing within 9 0days. 4 Includes exchange-translation account reflecting the monthly revaluation at market exchange rates of foreign exchange commitments. Estimated (Dallas District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES , February 3, 1982 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 securities Federal agency obligalt ions LLooaannss AAcccceeppttaanncceess Holdings | Weekly changes Holdings | Weekly changes Within 15 days 1,728 596 11,031 + 3,230 484 + 241 16 days to 90 days 72 — 23,314 114 708 + 86 91 days to 1 year — 34,237 + 830 1,331 - 26 Over 1 year to 5 years — — 35,974 51 5,404 — Over 5 years to 10 years — — 11,752 -- 960 — Over 10 years — — 1166,,663344 — 5577 33 — Total 1,800 596 113322,,994422 + 3,895 99,,446600 + 301 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 3, 1982 Millions of do lars . Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis K C an it s y a s Dallas * Fra S n a c n is co ASSETS Gold certificate account 11,151 1,017 3,160 531 805 1,147 436 1,171 450 189 534 628 1,083 Special Drawing Rights certif. acct. 3,568 189 1,072 143 243 326 85 528 123 40 180 234 405 Coin 416 24 22 23 40 51 50 24 28 17 33 32 72 Loans 1,800 172 257 172 241 210 90 110 104 44 92 217 91 Acceptances held under repurchase agreements 596 "• 596 •~ ~~ ~" ~" ~~ ~" ~" "• •- __ Federal agency obligations: Bought outright 9,054 385 2,636 324 657 723 288 1,382 336 136 414 566 1,207 Held under repurchase agreements 1 406 -- 406 -- "• "- -- -- -- •*• -- -- -- U.S. government securities: Bought outright—Bills 47,209 2,010 13,744 1,689 3,428 3,768 1,500 7,207 1,750 707 2,159 2,953 6,294 Notes 59,978 2,553 17,461 2,146 4,354 4,789 1,906 9,156 2,223 897 2,743 3,753 7,997 Bonds 18,401 783 5,357 659 1,336 1,469 585 2,809 682 275 842 1,151 2,453 Total bought outright 2 125,588 5,346 36,562 4,494 9,118 10,026 3,991 19,172 4,655 1,879 5,744 7,857 16,744 Held under repurchase agreements 1 7,354 -- 7,354 -- -- -- -- -- -- -- -- -- -- Total U.S. government securities 132,942 5,346 43,916 4,494 9,118 10,026 3,991 19,172 4,655 1,879 5,744 7,857 16,744 Total loans and securities 144,798 5,903 47,811 4,990 10,016 10,959 4,369 20,664 5,095 2,059 6,250 8,640 18,042 Cash items in process of collection 12,627 545 1,286 471 612 2,250 1,477 1,451 644 502 1,358 1,332 699 Bank premises 502 98 23 52 27 100 34 18 14 28 22 14 72 Other assets 3 9,216 276 2,798 348 614 524 534 1,324 307 257 391 555 1,288 Interdistrict settlement account -0- - 91 +3,397 -111 -1,431 + 531 -1,325 -2,128 -1.019 -330 + 489 -1- 998 ++11,,002200 TOTAL ASSETS H 182,278 7.961 59.569 6.447 1Q.926 15.888 5r660 23 f 0.52 5.642 2.762 9,257 T2T4"3T~ 2222,,668811 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 $ l, 765 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 373 million securities loaned-fully secured by U.S. government securities. 3 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $46 million in Treasury Bills maturing within 90 days. *Estimated (Dallas District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1 (c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON February 3, 1982 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas* Francisco LIABILITIES Federal Reserve notes 127,578 6,719 39,227 5,020 8,688 11,948 2,342 18,926 4,259 1,400 6,521 8,499 14,029 Deposits: Depository Institutions 34,178 766 11,701 957 1,533 1,498 1,956 2,722 718 785 1,402 2,665 7,475 U.S. Treasury —general account 5,576 5,576 Foreign—official accounts 274 8 49 12 22 16 23 42 9 11 13 20 49 Other 522 1 431 3 25 4 51 2 2 2 1 Total deposits 40,550 775 17,757 969 1,558 1,539 1,983 2,815 729 796 1,417 2,687 7,525 Deferred availability cash items 8,722 296 842 261 309 2,076 1,022 582 488 435 1,093 925 393 Other liabilities and accrued dividends 1 2.636 94 1,027 83 161 173 112 334 79 35 102 149 287 TOTAL L ABILITIES 179,486 7,884 58,853 6,333 10,716 15,736 5,459 22,657 5,555 2,666 9,133 12,260 22,234 CAPITAL ACCOUNTS Capital paid in 1,287 33 322 53 97 66 99 180 38 47 57 85 210 Surplus 1,278 33 319 53 96 66 97 180 37 47 57 84 209 Other capital accounts 227 11 75 8 17 20 5 35 12 2 10 4 28 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 182,278 7,961 59,569 6,447 10,926 15,888 5,660 23,052 5,642 2,762 9,257 12,433 22,681 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 150,650 7,787 43,817 7,331 9,711 13,514 5,116 20,968 5,505 1,924 7,966 10,392 16,619 Less - Held by F.R. Banks 23,072 1.068 4,590 2,311 1,023 1,566 2,774 2,042 1,246 524 1,445 1,893 2,590 F.R. Notes, Net 127,578 6,719 39,227 5,020 8,688 11,948 2,342 18,926 4,259 1,400 6,521 8,499 14,029 Collateral held against F.R. notes: Gold certificate account 11,151 1,017 3,160 531 805 1,147 436 1,171 450 189 534 628 1,083 Special Drawing Rights certif. acct. 3,568 189 1,072 143 243 326 85 528 123 40 180 234 405 Other eligible assets U.S. govt, and agency securities 112,859 5,513 34,995 4,346 7,640 10,475 1,821 17,227 3,686 1,171 5,807 7,637 12,541 Total collateral 127,578 6,719 39,227 5,020 8,688 11,948 2,342 18,926 4,259 1,400 6,521 8L4_9_9 14.029 1 Includes exchange translation account reflecting the monthly revaluation at market exchange rates of foreign exchange commitments. * Estimated (Dallas District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis