H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE _^ Factors Affecting Reserves of Depository Institutions and Condition Statement of F.R. Banks H.4.1, For immediate release February 19, 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 1177,, February IG", February 18, FFeebbrruuaarryy 1177,, 11998822 IQft? 1Q81 11998822 Reserve Bank credit: 1 |2 U.S. government securities- Bought outright—system account 125,197 + 122 + 7,849 126,025 Held under repurchase agreements 2,345 + 2,345 + 2,345 4,328 Federal agency obligations- Bought outright 9,046 ! - 7 + 307 9,046 Held under repurchase agreements 95 + 95 + 95 172 Acceptances- Bought outright 396 + 396 + 396 453 Held under repurchase agreements Loans to depository institutions 1,908 + 244 + 763 1,505 Includes: seasonal borrowing of 134 + 20 20 128 extended credit of 227 -1- 2 + 227 180 Float 2,539 679 1,206 4,789 Other F.R. assets 9.622 46 683 8,825 Total Reserve Bank credit 151,146 + 2,468 + 9,865 155,143 Gold stock 11,151 8 11,151 Special Drawing Rights certificate account 3,568 + 1,050 3,568 Treasury currency outstanding 13,709 + 4 + 244 13,709 179,574 + 2,472 + 11,151 183,571 CCuurrrreennccyy iinn cciirrccuullaattiioonn** 141,190 + 670 + 8,759 141,491 TTrreeaassuurryy ccaasshh hhoollddiinnggss** 464 + 2 + 14 465 TTrreeaassuurryy ddeeppoossiittss wwiitthh FF..RR.. BBaannkkss 4,568 751 + 1,736 5,541 FFoorreeiiggnn ddeeppoossiittss wwiitthh FF..RR,, BBaannkkss 321 + 42 25 271 OOtthheerr ddeeppoossiittss wwiitthh FF..RR.. BBaannkkss 489 1 + 123 509 RReeqquuiirreedd cclleeaarriinngg bbaallaanncceess + 2 + 139 139 + 370 + 832 5.488 OOtthheerr FF..RR.. lliiaabbiilliittiieess aanndd ccaappiittaall 152,639 + 335 + 11,579 153,904 RReesseerrvvee bbaallaanncceess wwiitthh FF..RR.. BBaannkkss33 26,937 + 2,139 427 29,668 TToottaall vvaauulltt ccaasshh ((eessttiimmaatteedd)) 19,218 853 + 1,797 19,218 ((aa)) VVaauulltt ccaasshh aatt iinnssttiittuuttiioonnss wwiitthh rreeqquuiirreedd rreesseerrvvee bbaallaanncceess 12,974 649 + 1,088 12,974 ((bb)) VVaauulltt ccaasshh eeqquuaall ttoo rreeqquuiirreedd rreesseerrvveess aatt ootthheerr iinnssttiittuuttiioonnss 2,215 56 + 1,515 j 2,215 ((cc)) SSuurrpplluuss vvaauulltt ccaasshh aatt ootthheerr iinnssttiittuuttiioonnss44 4,029 148 806 4,029 RReesseerrvvee bbaallaanncceess ++ ttoottaall vvaauulltt ccaasshh33**55 46,163 + 1,278 + 1,270 48,894 RReesseerrvvee bbaallaanncceess ++ ttoottaall vvaauulltt ccaasshh uusseedd ttoo ssaattiissffyy rreesseerrvvee rreeqquuiirreemmeennttss55,, 66 42,134 + 1,426 + 2,076 44,865 RReeqquuiirreedd rreesseerrvveess 77 41,457 + 926 + 1.697 41,457 EExxcceessss rreesseerrvvee bbaallaanncceess aatt FF..RR.. BBaannkkss55''88 677 + 500 + 379 I 3,408 On February 17, 1982 ( marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and inter national accounts were $ 93,641 million, a decrease of S2»383 million for the week. 1 Net of $ 1,719 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ l,719million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2 Net of $ 1,330 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 1,330 million was with foreign official and international accounts, includes $ 299 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 $ 8 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 (IB&). 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 17, 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 (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 ** WWeeddnneessddaayy Wednesday Wednesday February 17, 1982 February 10, 1982 February 18, 1981 ASSETS Gold certificate account 11,151 — 8 Special Drawing Rights certif. acct. 3,568 — + 1,050 Coin 431 + 3 48 Loans 1,505 - 778 + 630 Acceptances- Held under repurchase aggreements 453 + 453 + 453 Federal agency abligations- Bought outright 9,046 __ + 307 Held under repurchase agreements 1 172 + 172 + 172 U.S. government securities: Bought outright-Bills 47,646 + 842 + 5,321 Notes 60,289 + 311 + 1,919 Bonds 18,090 311 + 872 Total bought outright 2 126,025 + 842 + 8,112 Held under repurchase agreements 1 4,328 + 4,328 + 4,328 Total U.S. government securities 130,353 + 5,170 +12,440 Total loans and securities 141,529 + 5,017 +14,002 Cash items in process of collection ( 3,254) 13,669 + 4,277 - 335 Bank premises 505 + 2 + 46 Other assets 3 8,320 - 1,001 - 1,090 TOTAL ASSETS ( 3,254) 179,173 + 8,298 +13,617 LIABILITIES Federal Reserve notes 128,677 + 259 + 8,373 Depository Institutions 29,807 + 3,043 + 1,907 U.S. Treasury—general account 5,541 + 1,124 + 1,812 Foreign—official accounts 271 69 + 30 Other (9) 509 20 + 145 Total deposits (9) 36,128 + 4,078 + 3,894 Deferred availability cash items (3,245) 8,880 + 3,440 + 348 Other liabilities and accrued dividends 4 2,610 + 514 + 799 TOTAL LIABILITIES (3,254) 176,295 + 8,291 +13,414 CAPITAL ACCOUNTS Capital paid in 1,291 + 2 + 79 Surplus 1,278 — + 75 Other capital accounts 309 + 5 + 49 * 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 trans actions to foreign official and international accounts, of which $-0- million was outstanding at the end of the latest statement week. 2 Net of $1,330 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $299 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 $41 million in Treasury Bills maturing within 90 days. 4 Includes exchange-translation account reflecting the monthly revaluation at market exchange rates of foreign exchange commitments. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 17, 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 obligations LLooaannss AAcccceeppttaanncceess Holdings | Weekly changes Holdings 1 Weekly changes Within 15 days 1,479 453 10,609 +5,360 367 +232 16 days to 90 days 26 — 23,596 +2,009 512 - 60 91 days to 1 year — — 33,482 - 505 1,378 — Over 1 year to 5 years — — 35,764 - 210 5,428 — Over 5 years to 10 years — — 10,193 -1,559 960 — Over 10 years — 1166,,770099 ++ 7755 557733 — Total 1,505 445533 113300,,335533 ++55,,117700 99,,221188 +172 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 17, 1982 Millions of dollars 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 certif cate 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 431 25 25 24 41 52 50 26 29 17 35 34 73 Loans 1,505 44 145 102 449 110 29 168 54 67 181 82 74 Acceptances held under repurchase agreements 453 -- 453 -- — — — -- -- — -- — — Federal agency obligations: Bought outright 9,046 385 2,634 324 657 722 287 1,381 335 135 414 566 1,206 Held under repurchase agreements 1 172 — 172 -- -- -- -- -- — -- -- -- -- U.S. government securities: Bought outright-Bills 47,646 2,028 13,871 1,705 3,459 3,804 1,514 7,273 1,766 712 2,180 2,981 6,353 Notes 60,289 2,566 17,552 2,158 4,377 4,813 1,916 9,204 2,234 902 2,757 3,772 8,038 Bonds 18,090 770 5,266 647 1,313 1,444 575 2,762 671 271 827 1,132 2,412 Total bought outright 2 126,025 5,364 36,689 4,510 9,149 10,061 4,005 19,239 4,671 1,885 5,764 7,885 16,803 Held under repurchase agreements 1 4,328 -- 4,328 — _- -- _- -- -- -- — -- -- Total U.S. government securities 130,353 57364 41,017 4,510 9,"14 9 10,061 4,005 19,239 4,671 1,885 5,764 7,885 16,803 Total loans and securities 141,529 5,793 44,421 4,936 10,255 10,893 4,321 20,788 5,060 2,087 6,359 8,533 18,083 Cash items in process of collection 16,923 647 2,238 509 806 3,412 2,172 1,711 798 719 1,886 1,488 537 Bank premises 505 98 23 52 27 101 34 18 14 28 22 15 73 Other assets 3 8,320 236 2,544 327 548 464 517 1,178 246 256 348 493 1,163 Interdistrict settlement account -0- + 222 +6,658 + 151 -1,931 + 190 -1,294 -1,560 -1,093 - 746 + 216 + 331 -1,144 TOTAL ASSETS 182,427 8,227 60,141 6,673 10,794 16,585 6,321 23,860 5,627 2,590 9,580 11,756 20,273 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 $ "°" million was outstanding at the end of the latest statement week. 2 Net of $ 1', 330 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 2" 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 $41 million in Treasury Bills maturing within 90 days. 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 17, 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 128,677 6,773 39,473 5,024 8,632 12,038 2,77.8 18,922 4,154 1,419 6,547 8,576 14,341 Deposits: Depository Institutions 29,807 777 11,436 1,099 1,331 1,271 1,711 3,377 719 521 1,159 1,701 4,705 U.S. Treasury -general account 5,541 5,541 Foreign—official accounts 271 6 107 9 16 11 17 31 6 8 10 14 36 Other 518 436 2 23 6 43 2 1 2 2 1 Total deposits 36,137 783 17,520 1,108 1,349 1,305 1,734 3,451 727 530 1,171 1,717 4,7^2 Deferred availability cash items 12,125 501 1,493 339 441 2,822 1,507 703 583 508 1,637 1,138 453 Other liabilities and accrued dividends 1 2.610 91 918 84 154 264 97 379 77 35 97 135 279 TOTAL LIABILITIES 179,549 8,148 59,404 6,555 10,576 16,429 6,116 23,455 5,541 2,492 9,452 11,566 19,815 CAPITAL ACCOUNTS Capital paid in 1,291 34 322 54 97 66 98 180 38 47 58 86 211 Surplus 1,278 33 319 53 96 66 97 180 37 47 57 84 209 Other capital accounts 309 12 96 11 25 24 10 45 11 4 13 20 38 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 182,427 8,227 60,141 6,673 10,794 16,585 6,321 23,860 5,627 2,590 9,580 11,756 20,273 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 150,655 7,978 43,711 7,289 9,568 13,468 5,353 20,912 5,471 1,888 7,987 10,406 16,624 Less - Held by F.R. Banks 21.978 1.205 4,238 2,265 936 1.430 2,575 1,990 1.317 469 1,440 1,830 2,283 F.R. Notes, Net 128,677 6,773 39,473 5,024 8,632 12,038 2,778 18,922 4,154 1,419 6,547 8,576 14,341 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 113.958 5,567 35,241 4.350 7,584 10.565 2,257 17,223 3,581 1,190 5,833 7.714 12.853 Total collateral 128,677 6,773 39.473 5,024 8.632 12.038 2.778 18.922 4.154 1,419 6,547. _ ._8*£ZJ& 14.341 1 Includes exchange translation account reflecting the monthly revaluation at market exchange rates of foreign exchange commitments. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis