H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Qf COifr* * FEDERAL RESERVE These data are scheduled for release each Thursday. The exact time of each release will be announced, when 'fSSfSSrthe information is available, on (202) 452-3206. H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of F.R. Banks Januar> r 7, 1988 Averages of daily figures (millions of dollars) RReesseerrvvee bbaallaanncceess ooff ddeeppoossiittoorryy iinnssttiittuuttiioonnss aatt FF..RR BBaannkkss,, RReesseerrvvee BBaannkk ccrreeddiitt,, aanndd rreellaatteedd iitteemmss WWeeeekk eennddeedd Change from week ended Wednesday JJaann.. 66,, 11998888 Dec. 30, 1987 Jan. 7, 1987 Jan. 6, 1988 Reserve Bank credit: 1>2 251,151 + 3,826 + 19,707 248,914 U.S. government securities- Bought outright—system account 219,272 + 568 + 20,772 218,863 Held under repurchase agreements 3,006 + 1,263 - 2,837 2,120 Federal agency obligations- Bought outright 7,553 - 2 - 276 7,553 Held under repurchase agreements 1,063 + 89 + 287 876 Acceptances- Bought outright — —*• "*"• ~~* Held under repurchase agreements — — —• ~"~ Loans to depository institutions 2,908 + 2,153 + 2,210 749 Includes: seasonal borrowing of 72 - 28 + 42 51 extended credit of 448 + 164 + 213 505 Float 1,206 - 374 + 255 2,830 Other F.R. assets 16,144 + 131 - 703 15,923 Gold stock 11,078 - 1 + 16 11,077 Special Drawing Rights certificate account 5,018 — — 5,018 Treasury currency outstanding 18,179 + 11 + 608 18,191 Total factors supplying reserve funds 285,426 + 3,836 + 20,331 283,200 Currency in circulation* 229,911 + 165 + 18,719 229,057 Treasury cash holdings* 454 — + 10 454 Deposits, other than reserve balances, with F.R. Banks: Treasury 5,031 + 1,312 -- 928 4,098 Foreign 263 + 71 + 22 237 Service-related balances and adjustments3 2,286 + 17 + 5 1,687 Other 909 + 532 + 59 284 Other F.R. liabilities and capital 7,201 - 267 + 1,038 7,376 Total factors, other than reserve balances, absorbing reserve funds 246,055 + 1,831 + 18,925 243,193 Reserve balances with F.R. Banks4 39,371 + 2,005 + 1,404 40,007 On January 6, 1988 , marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 201,499million, an increase of $ 2,676 million for the week. 1 Net of $ 4,419 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4,419 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 4,827 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 4,827 million was with foreign official and international accounts. Includes $ 1,047 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,687 million and adjustments of $ 599 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 RANKS Millions of dollars Change sines) •• WWeeddnneessddaayy Wednesday Wednesday January 6, 1988 December 30. 1987 January 7. 1987 ASSETS Gold certificate account 11,077 - 1 - 7 Special Drawing Rights certificate account 5,018 — — Coin 401 - 12 - 89 Loans 749 - 202 + 415 Acceptances- Held under repurchase agreements — — — Federal agency obligations- Bought outright 7,553 — - 276 Held under repurchase agreements 1 876 - 920 + 301 U.S. government securities: Bought outright—Bills 107,648 + 314 + 2,873 Notes 82,973 — + 14,847 Bonds 28.242 — + 2.518 Total bought outright* 218,863 + 314 + 20,238 Held under repurchase agreements1 2,120 - 1,714 - 1,739 Total U.S. government securities 220,983 - 1,400 + 18,499 Total loans and securities 230,161 - 2,522 + 18,939 Cash Items in process of collection (1,278) 10,643 + 2,670 + 1,919 Bank premises 705 + 1 + 43 Other assets 3 15,218 - 332 - 902 TOTAL ASSETS (1,278) 273,223 - 196 + 19,903 LIABILITIES Federal Reserve notes 211,721 - 1,369 + 18,105 Deposits: Depository institutions 41,694 + 124 + 33 U.S. Treasury—general account 4,098 - 675 + 28 Foreign—official accounts 237 + 30 + 53 Other 284 - 80 - 16 Total deposits 46,313 - 601 + 98 Deferred availability cash items (1,278) 7,813 + 1,851 + 599 Other liabilities and accrued dividends4 3,015 - 38 + 812 TOTAL LIABILITIES (1,278) 268,862 - 157 + "19,614 CAPITAL ACCOUNTS Capital paid in 2,044 - 1 + 169 Surplus 2,047 + 174 + 174 Other capital accounts 270 ~* 212 — 54 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 S -0- million was outstanding at the end of the lateet statement week. Net of $ 4,827 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes S 1,047 million securities loaned—fully secured by U.S. government securities. Includes assets denominated In foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $ 38 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, January 6, 1988 Acceptances and securttiee 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 jWeekly changes Holdings jWoekly changes Within 15 days 738 — 10,503 - 1,080 1,046 995 15 days to 90 days 11 — 50,752 - 149 836 + 145 91 days to 1 year — — 71,479 - 514 1,583 70 Over 1 year to 5 years — — 47,512 + 343 3,416 — Over 5 years to 10 years — — 15,313 — 1,358 — Over 10 years 1 — 25,424 — 190 — Total 749 220,983 1,400 8,429 920 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 January 6, 1988 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco ASSETS Gold certificate account 11,077 706 3,176 385 664 933 596 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 401 27 15 23 28 64 37 31 27 13 31 29 76 Loans 749 11 8 83 40 3 9 17 32 4 39 495 8 Acceptances held under repurchase agreements — — — — — — — — — — — Federal agency obligations: Bought outright 7,553 466 2,430 229 453 638 335 876 218 114 300 448 1,046 Held under repurchase agreements I 876 — 876 — — — — — — — — — — U.S. government securities: Bought outright-Bills 107,648 6 ,639 34,635 3,257 6 ,456 9,096 4,781 12,483 3,109 1,618 4,275 6,386 14,913 Notes 82,973 5 ,118 26,695 2,511 4 ,977 7,011 3,685 9,622 2,396 1,247 3,295 4,922 11,494 Bonds 28,242 1_, 742 9,086 855 I ,694 2,386 1,254 3,275 816 425 1,121 1,676 3,912 Total bought outright 2 218,863 13 ,499 70,416 6,623 13 ,127 18,493 9,720 25,380 6,321 3,290 8,691 12,984 30,319 Held under repurchase agreements 1 2,120 — 2,120 — — — — — — — — — — Total U.S. government securities 220,983 13 ,499 72,536 6,623 13 ,127 18,493 9,720 25,380 6,321 3,290 8,691 12,984 30,319 Total loans and securities 230,161 13 ,976 75,850 6,935 13 ,620 19,134 10,064 26,273 6,571 3,408 9,030 13,927 31,373 Items in process of collection 11,921 865 1,321 616 336 700 965 1,333 595 583 1,579 1,084 1,944 Bank premises 705 92 33 46 32 111 57 71 20 23 47 20 153 Other assets 3 15,218 529 3,323 545 726 838 910 4,219 366 332 513 913 2,004 interdistrict settlement account -0- - 329 -I- 2,740 - 562 - 817 - 1,718 + 1,249 + 769 + 625 - 141 771 918 127 TOTAL ASSETS 274,501 ~76~ ,180 87,947 8,150 14 ,903 20,523 14,081 34,735 8,715 4,453 11,207 16,031 37,576" 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 $ 4,827 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $1,047 million securities loaned-fuliy 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 $ 38 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 January 6, 1988 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco LIABILITIES Federal Reserve notes 211,721 12,380 70,635 5,509 12,971 16,438 8,979 29,913 6,906 2,986 8,334 12,216 24,454 Deposits: Depository institutions 41,694 3,009 9,456 1,881 1,209 3,071 3,748 3,184 1,142 777 1,181 2,624 10,412 U.S. Treasury—general account 4,098 — 4,098 — — — — — — — — — — Foreign—official accounts 237 5 123 7 9 8 14 20 5 5 6 13 22 Other 284 — 215 1 1 9 2 46 — 1 4 3 2 Total deposits 46,313 3,014 13,892 1,889 1,219 3,088 3,764 3,250 1,147 783 1,191 2,640 10,436 Deferred credit items 9,091 474 995 469 317 557 847 705 466 511 1,397 656 1,697 Othsr liabilities and accrued dividends 1 3,015 160 1,237 81 154 216 118 311 72 43 105 152 366 TOTAL LIABILITIES 270,140 16,028 86,759 7,948 14,661 20,299 13,708 34,179 8,591 4,323 11,027 15,664 36,953 CAPITAL ACCOUNTS Capital paid in 2,044 68 541 98 113 110 181 261 58 63 85 175 291 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 270 16 106 7 16 __ 11 34 88 44 1100 1177 41 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 274,501 16,180 87,947 8,150 14,903 20,523 14,081 34,735 8,715 4,453 11,207 16,031 37,576 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 252,950 15,104 75,676 9,024 15,158 20,994 13,195 31,941 8,788 4,024 10,929 15,807 32,310 Less-Held by F.R. Banks 41,229 2,724 5,041 3,515 2,187 4,556 4,216 2,028 1,882 1,038 2,595 3,591 7,856 F.R. notes, net 211,721 12,380 70,635 5,509 12,971 16,438 8,979 29,913 6,906 2,986 8,334 12,216 24,454 Collateral held against F.R. notes: Gold certificate account 11,077 Special Drawing Rights certif. ace 5,018 Other eligible assets -0- U.S. govt, and agency securities 195,626 Total collateral 211,721 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