H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE These data are scheduled for release each Thursday. The exact time of each release will be announced, when the information is available, on (202) 452-3206. H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of F.R. Banks December 17, 1987 Averages of daily figures (millions of dollars) Reserve balances of depository institutions at F.R Banks, Reserve Bank credit, and related items Week ended Change from week ended J Wednesday Dec. 16, 1987 Dec 9, 1987 I Dec. 17, 1986 Dec. 16, 1987 Reserve Bank credit: 1 2 245,108 + 263 \~T~ 20,632 ' 2 4 5 , 7 29 U.S. government securities- Bought outright—system account 219,006 - 306 + 21,494 216,715 Held under repurchase agreements — 422 i - 1,156 ~~ Federal agency obligations- Bought outright 7,558 9 - 271 7,556 Held under repurchase agreements — 56 - 127 ~ Acceptances- Bought outright — — — — Held under repurchase agreements — — — — Loans to depository institutions 875 + 121 + 231 836 Includes: seasonal borrowing of 87 + 9 + 53 83 extended credit of 689 + 72 + 375 617 Float 1,992 + 1,030 + 898 4,560 Other F.R. assets 15,676 97 - 437 16,062 Gold stock 11,081 1 + 14 11,081 Special Drawing Rights certificate account 5,018 — — 5,018 Treasury currency outstanding 18,148 + 10 + 607 18,157 Total factors supplying reserve funds 279,355 + 271 + 21,253 279,985 Currency in circulation* 226,447 + 729 + 18,095 226,880 Treasury cash holdings* 454 1 + 18 454 Deposits, other than reserve balances, with F.R. Banks: Treasury 4,817 + 1,025 + 1,293 9,036 Foreign 233 + 10 - 33 270 Service-related balances and adjustments 3 2,128 + 214 _ 293 1,699 Other 321 7 _ 218 359 Other F.R. liabilities and capital 7,306 321 + 900 7,095 Total factors, other than reserve balances, absorbing reserve funds 241,706 + 1,648 + 19,762 245,793 Reserve balances with F.R. Banks * 37,649 - 1,378 + 1,491 34,192 On December 16, 1987, marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $198,508 million, an increase of $ 3,471 million for the week. 1 Net of $ 4,684 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4,355 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 6,976 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 4,671 million was with foreign official and international accounts. Includes $ 1,152 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,699 million and adjustments of $ 429 million to compensate for float. 4 Excludes required clearing balances and adjustments to compensate for float. * Estimated (Treasury's figures). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Worksheet for H.4.1 (a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS Millions of dollars ^ Change since * Wednesday Wednesday Wednes dav December 16, 1987 December 9, 1987 December 17', 1986 ASSETS Gold certificate account 11,081 - 1 - 3 Special Drawing Rights certificate account 5,018 — — Coin 395 - 38 - 115 Loans 836 + 19 - 1,129 Acceptances- Held under repurchase agreements — — Federal agency obligations- Bought outright 7,556 11 - 273 Held under repurchase agreements'! — — - 405 U.S. government securities: Bought outright—Bills 105,500 2,443 + 1,932 Notes 82,973 — + 14,847 Bonds 28,242 — + 2,518 Total bought outright2 216,715 - 2,443 + 19,297 Held under repurchase agreements1 — — 3,213 Total U.S. government securities 216,715 2,443 + 16,084 Total loans and securities 225,107 _ 2,435 + 14,277 Cash items in process of collection (1,695) 12,261 + 5,390 + 1,634 Bank premises 699 + 43 Other assets 3 15,363 + 139 513 TOTAL ASSETS (1,695) JW?m + T&55 + 15,323 LIABILITIES Federal Reserve notes 209,572 + 516 + 17,402 Deposits: Depository institutions 35,891 _ 4,070 » 7,278 U.S. Treasury—general account 9,036 + 4,455 + 4,500 Foreign—official accounts 270 + 60 - 75 Other 359 + 15 _ 112 Total deposits 45.556 + 460 _ 2,965 Deferred availability cash items (1,695^ 7]701 + 2,106 + 48 Other liabilities and accrued dividends4 2.698 19 + 467 TOTAL LIABILITIES (1,695) 2657317 + 3,063 + 14,952 CAPITAL ACCOUNTS Capital paid in 2,033 + 1 + 170 Surplus 1,873 — + 92 Other cap'tal accounts 491 - 9 + 109 Figures in parentheses are the eliminations made in the consolidating process. 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. Net of $ 6,976 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 1,152 million securities loaned—fully secured by U.S. government securities. Includes assets denominated in foreign currencies, revalued monthly at market exchange ratea. Includes special investment account at Chicago of $ 89 million in Treasury bills maturing within 90 days. Includes exchange-translation account reflecting the monthly revaluation at market exchange rates of foreign exchange com mitments. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, December 16, 1987 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 Loans Acceptances Holdings |Weekly changes Holdings [Weekly changes Within 15 days 809 12,992 3,034 3 8 16 days to 90 days 27 43,444 5,398 930 73 91 days to 1 year 72,373 79 1,581 9 Over 1 year to 5 years 47,169 3,495 29 Over 5 years to 10 years 15,313 1,358 29 Over 10 years 25,424 189 11 Total 836 216,715 - 2,443 7,556 11 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 December 16, 1987 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 certificate account 11,081 706 3,180 385 664 933 596 1,383 351 169 562 669 1,483 Special Drawing Rights certif. acct. 5,018 314 1,489 162 314 461 203 656 160 66 216 307 670 Coin 395 27 15 27 29 64 4 36 27 14 34 32 86 Loans 836 6 33 5 1 5 32 22 33 18 . 60 596 25 Acceptances held under repurchase agreements — Federal agency obligations: Bought outright 7,556 466 2,431 229 453 638 336 876 218 114 300 448 1,047 Held under repurchase agreements 1 — — — — — — — — — — — — — U.S. government securities: Bought outright-Bills 105,500 6,507 33,943 3,192 6 ,328 8,915 4,685 12,234 3,047 1,586 4,189 6,259 14,615 Notes 82,973 5,118 26,695 2,511 4 ,977 7,011 3,685 9,622 2,396 1,247 3,295 4,°22 -, i,494 Bonds 28,242 1,742 9,086 855 1 ,694 2,386 1,254 3,275 816 424 1,122 1,676 3,912 Total bought outright 2 216,715 13,367 69,724 6,558 12 ,999 18,312 9,624 25,131 6,259 3,257 8,606 12,857 30,021 Held under repurchase agreements 1 — — — — — — — — — — — — — Total U.S. government securities 216,715 13,367 69,724 6,558 jy 79W 18,312 9,624 25,131 6,259 3,257 8,606 12,857 30,021 Total loans and securities 225,107 13,839 72,188 6,792 13 ,453 18,955 9,992 26,029 6,510 3,389 8,966 13,901 31,093 Items in process of collection 13,956 819 1,864 793 744 818 1,123 1,479 1,152 582 1,664 777 2,141 Bank premises 699 92 33 46 32 110 57 67 20 23 47 20 152 Other assets 3 15,363 528 3,338 530 734 791 930 4,503 402 339 518 922 1,828 Interdistrict settlement account -0- - 1,096 + 8,142 - 340 - 434 - 2,232 + 392 + 1,054 + 541 + 119 895 766 - 4,485 TOTAL ASSETS 271,619 15,229 90,249 8,395 IT, 536 19,900 13,297 35,207 9,163 4,701 11,112 15,862 32,968 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 $ 6,976 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $1,152 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 $ 89 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 December 16, 1987 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco LIABILITIES Federal Reserve notes 209,572 12,253 69.764 5,496 12,958 16,378 8,497 29,756 6,871 3,109 8,353 12,169 23,968 Deposits: Depository institutions 35,891 2,154 7.862 2.182 1,674 2,458 3,578 3,740 1,399 902 1,046 2,608 6,288 U.S. Treasury-general account 9,036 9.036 Foreign—official accounts 270 5 156 7 9 8 14 20 5 5 6 13 22 Other 359 232 1 13 2 101 1 1 2 2 2 Total deposits 45,556 2.160 17,286 2,190 1,684 2,479 3,594 3,861 1,405 908 1,054 2,623 6,312 Deferred credit items 9,396 500 1,110 425 491 574 712 718 688 512 1,416 552 1,698 Other liabilities and accrued dividends 1 2,698 159 910 80 157 216 121 312 73 43 106 155 366 TOTAL LIABILITIES 267,222 15,072 89,070 8.191 15,290 19,647 12,924 34,647 9,037 4,572 10,929 15,4 99 32,344 CAPITAL ACCOUNTS Capital paid in 2,033 68 537 97 113 113 179 260 58 62 85 171 290 Surplus 1,873 61 466 86 111 101 168 251 58 61 81 158 271 Other capital accounts 491 28 176 21 22 39 26 49 10 6 17 34 63 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 271,619 15,229 90,249 8.395 15,536 19.900 13,297 35.207 9,163 4,701 11,112 15,862 32,968 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 255,395 15,286 76,430 9.077 15,411 21.296 13,259 32.271 8,875 4,043 11,060 15,928 32,459 Less-Held by F.R. Banks 45,823 3,033 6,666 3,581 2,453 4,918 4,762 2.515 2.004 934 2,707 3,759 8,491 F.R. notes, net 209,572 12,253 69,764 5,496 12,958 16,378 8,497 29,756 6,871 3,109 8,353 12,169 23,968 Collateral held against F.R. notes: Gold certificate account 11,081 Special Drawing Rights certif. ace 5,018 Other eligible assets -0- U.S. govt, and agency securities 193,473 Total collateral 209,572 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