H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•*8£s§& FEDERAL RESERVE These data are scheduled for release each Thursday. The exact time of each release will be announced, when •■f^fss?; 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 24, 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 ' W—ed"n esday Dec. 23, 1987 Dec. 16, 1987 Dec. 24, 198q Dec. 23, 1987 Reserve Bank credit: ' * 244,707 - 343 ♦ 17,642 244,963 U.S. government securities- Bought outright—system account 219,179 + 173 + 22,110 219,049 Held under repurchase agreements — — - 3,571 — Federal agency obligations— Bought outright 7,556 - 2 273 7,556 Held under repurchase agreements — — 235 ♦ Acceptances- Bought outright — — — — Held under repurchase agreements — — — — Loans to depository institutions 586 - 289 ♦ 32 492 Includes: seasonal borrowing of 104 + 17 + 69 113 extended credit of 348 - 341 + 57 248 Float 1,188 - 754 225 1,951 Other F.R. assets 16,197 + 529 198 15,915 Gold stock 11,080 • 1 + 15 11,079 Special Drawing Rights certificate account 5,018 — — 5,018 Treasury currency outstanding 18,158 + 10 + 607 18,167 Total factors supplying reserve funds 278,963 - 334 + 18,264 279,227 Currency in circulation* 227,672 + 1,225 ♦ 17,911 229,224 Treasury cash holdings* 454 — + 21 454 Deposits, other than reserve balances, with F.R. Banks: Treasury 4,219 - 598 + 828 2,992 Foreign 240 + 7 ♦ 29 215 Service-related balances and adjustments» 1,960 • 168 313 1,697 Other 326 ♦ 5 64 293 Other F.R. liabilities and capital 7,270 - 36 ♦ 859 7,096 Total factors, other than reserve balances, absorbing reserve funds 242,141 + 435 + 19,271 241,971 Reserve balances with F.R. Banks4 36,822 - 769 - 1,006 37,256 On December 23,1987 , marketable U.S. government securities held In custody by the Federal Reserve Banks for foreign official and international accounts were $ 197,382 million, a decrease of S 1,126 million for the week. 1 Net of S 4,511 million, dairy average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4,511 million was with foreign official and international accounts, includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 4,641 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of S 4,641 million was with foreign official and international accounts. Includes $ 962 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,697 million and adjustments of $ 263 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 (S) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL JIIStftVE BANKS Mllltont of dollar* _ __ Changs since * wooneoosy Wednesday r Wednesday December 23, 1987 December 16, 1987 December 24, 1986 ASSETS Gold certificate account I 11,079 . 2 5 Special Drawing Rights i eitlfli eta account | 5,018 Coin 434 ♦ 39 . 71 Loana 492 - 344 + 24 Acceptances- Held under repurchase agreemente Federal agency obligations— Bought outright 7,556 273 Held under repurchase agreements* 298 U.S. government securities: Bought outfight—Bills 107,834 + 2,334 + 4,942 Notes 82,973 + 14,847 Bonds 28,242 + 2,518 Total bought outright? 219,049 + 2,334 + 22,307 Hsid under repurchaae sgreements1 — 3,749 Total U.S. government securttlee 219,049 + 2,334 + 18,558 Total loans snd securities 227,097 + T7990 + 18,011 items in process of collection (1.277) 8,839 3,422 1,579 Bank premises 698 1 + 39 Other assets 3 15,217 - 146 * 1,194 TOTAL ASSETS r -7) 268,382 1,542 + TF7ZDT LIABILITIES Federal Reserve notes 211,945 > 2,373 + 17,496 Deposits: Depository institutions 38,953 + 3,062 1, 332 U.S. Treasury—general account 2,992 6,044 S89 Foreign—official accounts 215 55 + 38 Other 293 - 66 82 Total deposits 42,453 3,103 2,065 Deferred credit items Other liabilities and accrued dividends4 (1.277) 6 2 , , 8 6 8 91 8 813 7 + 9 11 1 1 1 2 TOTAL LIABILITIES (1.277) 263,977 - 1,550 + "u7ii32 CAPITAL ACCOUNTS Capital paid In 2,045 ♦ 12 + 179 Surplus 1,873 + 92 Other cspltal accounts 487 - ~4 + 98 Figurss 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 tranaactlone to foreign official and international accounts of which S -0- million was outetandlng at the end of the latest statement week. Net of 14,641 million matched sals-purchase transactions outstanding at the end of the latest statement week. Includes S 962 million sscuritiss loaned—fully secured by U.S. government securities. tncludss ssssts denominated m foreign currencies, revalued monthly at market exchange rates. Includes specie! investment account at Chicago of S 69 million In Treasury Mile maturing within 90 days. Includes exchange-translation account reflecting the monthly revaluation at market exchange rates of foreign exchange com­ mitments. MATURITY DISTRIBUTION OF ANO SiCUnmgt, December 23, 1987 Acceptances and securttlee held repurchase egreemente are classified as maturing wtthln 15 days In accordance with maximum msturlty of ths agreements U.8. government securttlee Federal agency obiigstfcans Loana Acceptances Holdings | Weekly changes Holdings (Weekly changes Within 15 days ! 472 — 10,345 mm 2,647 208 + 205 16 days to 90 days 20 — 51,229 + 7,785 727 «. 203 91 dsys to 1 year — — 69,568 „ 2,805 1,578 — 3 Over 1 year to 5 years — — 47,170 + 1 3,495 Over 5 years to 10 years — — 15,313 1,358 Over 16 y^ars 55 25,424 — 190 4- 1 Total 492 219,049 + 2,334 7,556 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H4 1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON December 23, 1987 Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis K C an it s y a s Delias Framisco ASSETS Gold certil icate account 11.079 706 3,178 385 664 933 596 1,383 351 169 562 669 1.483 Special Orawtng Rights certil. acct. 5,018 314 1.489 162 314 461 203 656 160 66 216 307 6?@ Coin 434 29 17 25 29 65 43 35 29 14 33 31 84 Loans 492 6 38 23 8 6 17 36 37 15 69 233 4 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 * U.S. government securities: Bought outright-Bills 107,834 6,651 34,694 3.263 6.468 9.112 4.789 12,505 3,114 1,621 4,282 6,397 14.938 Notes 82,973 5.118 26,695 2.511 4.976 7.011 3.685 9,622 2,396 1,247 3,295 4,923 11,494 Bonds 28,242 1,742 9,086 855 1,694 2.386 1,254 3,275 816 425 1,122 1,675 3,912 Total bought outright 2 219,049 13.511 70.475 6.629 13,138 18.509 9,728 25,402 6,326 3,293 8.699 12,995 30.344 Held under repurchase agreements 1 — — — — — — — — — — — — — Total U.S. government securities 219,049 13,511 70.475 6.629 13,138 18.509 9,728 25,402 6,326 3.293 8.699 12.995 30,344 Total loans and securities 227,097 13.983 72.944 6.881 13,599 19.153 10.081 26,314 6,581 3,422 9.068 13,676 31,395 Hems in process of collection 10,116 514 1.336 510 394 802 1.145 861 590 429 1,194 572 1.769 Bank premises 698 92 33 46 32 109 56 68 20 23 47 20 152 Other assets 3 15,217 554 3.352 515 747 804 941 4,344 380 340 526 940 1,774 Interdistrkt settlement account -0- - 1.024 -► 4f62l - 414 - 675 - 2,001 + 1.623 + 1.314 + 476 - 167 - 609 - 315 - 2.829 TOTAL ASSETS 269,659 15.168 86.970 8,110 15,104 20.326 14,688 34.975 8,587 4,296 11,037 15.900 34,498 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 $ -o- million was outstanding at the end of the latest statement week. 2 Net of $ 4.641 million matched sale purchase transactions outstanding at the end of the latest statement week. Includes $ 962 million securities loened-fully secured by U.S. government securities. 3 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Im Jet special investment account at Chicago of $ 69 million in Treasury Bills maturing within 90 days. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON December 23, 1987 Millions of do lars [ Total 1 Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis K C an it s y a s Dallas Fra S n a ci n s co LIABILITIES Federal Reserve notes 211.945 12.394 70.078 5.633 12.891 16,505 9.218 29.933 6.903 3.089 8,379 12.318 24.604 Deposits: Depository institutions 38.953 2.019 10.514 1.791 1.448 2,820 4.115 3.435 999 620 1,233 2,545 7.414 U.S. Treasury-general account 2.992 2,992 Foreign-official accounts 215 5 101 7 9 8 14 20 5 5 6 13 22 Other 293 I 178 1 2 9 3 89 1 1 3 3 2 Total deposits 42.453 2.025 13.785 1.799 1.459 2,837 4.132 3.544 1.005 626 1.242 2.561 7.438 Deferred credit Hems 8.165 435 1.003 394 353 511 845 626 481 410 1.133 501 1.473 Other liabilities and accrued dividends ] 2.691 158 919 81 156 218 120 312 72 43 102 153 357 TOTAL LIABILITIES 265.254 15,012 85.785 7,907 14.859 20.071 14.315 34.415 8,461 4.168 10.856 15,533 33.872 CAPITAL ACCOUNTS Capital paid in 2.045 68 541 97 113 114 181 260 58 62 85 175 291 Surplus 1.873 61 466 36 HI 101 168 251 58 61 81 158 2?' Other capital accounts 487 27 178 20 21 40 24 49 10 5 15 34 64 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 269.659 15,168 86.970 8. 10 15.104 20.326 14.688 34.975 8.587 4.296 11.037 15.900 34,498 FEDERAL RESERVE AGENTS' ACCOUNTS F .R. notes outstanding 254.294 15.151 75,922 9,089 15.247 21.154 13.440 31.973 8.829 4.052 10.999 15.907 32.531 Less-Held by F.R. Banks 42.349 2,757 5,844 3,456 2.356 4.649 4.222 2,040 1.926 963 2,620 3.589 7,927 F.R. notes, net 211.945 12.394 70.078 5,633 12.891 16.505 9.218 29,933 6,903 3.089 8,379 12.318 24,604 Collateral held against P.H. notes: Gold certificate account 11.079 Special Drawing Rights certif. ace 5.108 Other eligible assets -0- U.S. govt, and agency securities j 195.848 Total collateral 211.945 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