H.4.1 Factors Affecting Reserve Balances of Depository Institutions

„ of coy, FEDERAL RESERVE These data are scheduled for release each Thursday. The exact time of each release will be announced, when ••f^mf^-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 January 21, 1988 Averages of daily figures (millions of dollars) Reserve balances of depository institutions at F.R Banks, Reserve Bank credit, and related items WWeeeekk eennddeedd** Change from week ended Wednesday ^ JJaann.. 2200,, 11998888 Jan 13, 1988 Jan. 21,1987 Jan. 20, 1988 Reserve Bank credit:1-2 244,561 - 2,571 + 17,072 249,377 U.S. government securities- Bought outright—system account 218,734 - 844 + 18,145 218,442 Held under repurchase agreements — - 496 - 788 — Federal agency obligations- Bought outright 7,534 - 19 - 264 7,423 Held under repurchase agreements — - 262 - 64 — Acceptances— Bought outright — — — — Held under repurchase agreements — — — — Loans to depository institutions 593 - 388 + 195 450 Includes: seasonal borrowing of 50 - 9 + 16 54 extended credit of 441 - 81 -f 223 277 Float 1,902 - 835 + 851 7,399 Other F.R. assets 15,797 + 273 - 1,004 15,663 Gold stock 11,074 - 2 + 15 11,072 Special Drawing Rights certificate account 5,018 — — 5,018 Treasury currency outstanding 18,207 + 14 + 615 18,219 Total factors supplying reserve funds 278,859 - 2,560 + 17,701 283,686 Currency in circulation** 225,978 - 1,847 + 19,030 225,640 Treasury cash holdings** 449 - 5 •- 9 436 Deposits, other than reserve balances, with F.R. Banks: Treasury 2,521 - 1,350 - 6,781 3,859 Foreign 347 + 112 + 130 231 Service-related balances and adjustments 3 2,101 - 177 - 167 1,681 Other 329 + 75 - 65 358 Other F.R. liabilities and capital 7,550 + 28 + 1,190 7,315 Total factors, other than reserve balances, absorbing reserve funds 239,276 - 3,163 + 13,329 239,520 Reserve balances with F.R. Banks4 39,585 + 604 + 4,375 44,167 On January 20, 1988 , marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 205,233 million, an increase of $ 847 million for the week. 1 Net of $ 4,356 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4,356 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 4,649 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 4,649 million was with foreign official and international accounts. Includes $ 330 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,681 million and adjustments of $ 420 million to compensate for float. 4 Excludes required clearing balances and adjustments to compensate for float. * Estimated (St. Louis District). ••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 since ** WWeeddnneessddaayy Wednesday Wednesday January 20, 1988 January 13, 1988 January 21, 1987 ( ASSETS Gold certificate account 11,072 - 3 *• 12 Special Drawing Rights certificate account 5,018 — — Coin 442 + 33 - 88 Loans 450 - 2,267 + 68 Acceptances- — — — Held under repurchase agreements Federal agency obligations- Bought outright 7,423 130 - 296 Held under repurchase agreements1 — — - 203 U.S. government securities: Bought outright—Bills 107,227 890' - 955 Notes 82,973 — + 14,847 Bonds 28,242 — + 2,518 Total bought outright* 218,442 - 890 + 16,410 Held under repurchase agreements1 — — - 2,406 Total U.S. government securities 218,442 _ 890 + 14,004 Total loans and securities 226,315 _ 3,287 + 13,573 Cash items in process of collection (2,017) 18,186 + 10,494 + 6,210 Rank premises 707 + 2 + 44 Other assets 3 14,956 62 1,299 TOTAL ASSETS (2,017) 276,696 + 7,177 + 18,428 LIABILITIES Federal Reserve notes 208,298 - 1,384 + 18,272 Deposits: Depository institutions 45,848 + 3,859 + 10,228 U.S. Treasury—general account 3,859 + 438 _ 11,883 Foreign—official accounts 231 + 19 _ 9 Other 358 + 69 + 28 Total deposits 50,296 -f 4,385 _ 1,636 Deferred availability cash items (2,017) 10,787 + 4,299 + 634 Other liabilities and accrued dividends4 2,857 128 + 752 TOTAL LIABILITIES (2,017) 272,238 + 7,172 + 18,022 CAPITAL ACCOUNTS Capital paid in ! 2,058 + 9 + 182 Surplus 2,047 — + 174 Other capital accounts 353 - 4 + 50 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 $ 4,649 million matched sale-purchase transactions outstanding at the %r%6 of the latest statement week. Includes $ 330 million securities loaned—fully secured by U.S. government securities. includes assets denominated in foreign currencies, revalued monthly at market exchange rates. Inciudes special investment account at Chicago of $ 76 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 20, 1988 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 445 8,554 887 165 14 16 days to 90 days 5 53,598 1,474 781 145 91 days to 1 year 68,248 3,044 1,473 Over 1 year to 5 years 47,410 102 3,481 40 Over 5 years to 10 years 15,208 105 1,333 40 Over 10 years 25,424 190 1. Total 450 218,442 890 7,423 130 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 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco ASSETS Gold certificate account 11,072 706 3,171 385 664 933 596 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 442 32 17 25 30 69 45 38 29 14 32 32 79 Loans 450 15 30 35 1 6 12 5 23 6 43 260 14 Acceptances held under repurchase agreements Federal agency obligations: Bought outright 7,423 458 2,388 225 445 627 330 861 214 112 295 440 "1,028 Held under repurchase agreements 1 U.S. government securities: Bought outright-Bills 107,227 6,613 34,499 3,244 6,431 9,061 4,762 12,435 3,097 1,612 4,258 6,361 14,854 Notes 82,983 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,QS6 855 1.694 2,386 1.254 3.275 816 424 1.122 1.676 3,912 Total bought outright 2 218,442 13,473 70,280 6,610 13,102 18,458 9,701 25,332 6,309 3,283 8,675 12,959 30,260 Held under repurchase agreements 1 Total U.S. government securities 218,442 13,473 70,280 6,610 13,102 18,458 9,701 25,332 6,309 3,283 8,675 12,959 30,260 Total loans and securities 226,315 13,946 72,698 6,870 13,548 19,091 10,043 26,198 6,546 3,401 9,013 13,659 31,302 Items in process of collection 20.203 1,082 2,050 1,530 906 1,389 2,172 2,440 1,186 851 2,007 1,667 .'2.963 Bank premises 707 93 34 46 32 111 57 71 20 23 47 20 153 Other assets 3 14,956 541 3,323 499 737 800 910 4,258 373 331 520 914 1,750 Interdistrict settlement account -0- - 902 + 8,334 751 - 1,362 - 2,132 + 153 + 410 f 289 443 - 987 1,090 1,519 TOTAL ASSETS 278,713 15,812 91,116 8,766 14,869 20,722 14,179 35,454 8,954 4,372 11,410 16,178 36,881 *Estimated (St. Louis District) 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 $ 4,649 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 330 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 $ 76 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 20, 1988 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco LIABILITIES F<«»deral Reserve notes 208,298 12,309 70,391 5,191 12,640 16,136 8,316 29,556 6,717 2,945 8,176 12,044 23,877 Deposits: Depository institutions 45,848 2,587 12,909 1,947 1,343 3,437 4,290 3,994 1,237 625 1,222 2,591 9,666 U.S. Treasury-general account 3,859 ! 3,859 — — — — — — — — — — Foreign—official accounts 231 5 117 7 9 8 14 20 5 5 6 13 22 Other 358 1 200 1 1 29 6 102 1 — 2 11 4 Total deposits 50,296 2,593 17,085 1,955 1,353 3,474 4,310 4,116 1,243 630 1,230 2,615 9,692 " Deferred credit Items 12,804 598 1,296 1,336 480 648 1,062 917 781 619 1,721 1,002 2,344 Other liabilities and accrued dividends1 2,857 155 1,154 76 150 207 114 301 72 41 101 145 341 TOTAL LIABILITIES 1 274,255 ! 15,655 89,926 8,558 14,623 20,465 13,802 34,890 8,813 4,235 11,228 15,806 36,254 CAPITAL ACCOUNTS Capital paid in 2,058 69 541 98 113 115 181 261 58 69 85 176 292 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 353 20 108 13 20 28 15 42 25 5 12 21 44 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 278,713 15,812 91,116 8,766 14,869 20,722 '14,179 35,454 8,954 4,372 11,410 16,178 36,881 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 252,883 15,399 75,945 8,903 15,148 21,012 12,881 32,002 8,847 3,995 10,841 15,806 32,104 Less-Held by F.R. Banks 44,585 3,090 5,554 3,712 2,508 4,876 4,565 2,446 2,130 1,050 2,665 3,762 8,227 F. R. notes, net 208,298 12,309 70,391 5,191 12,640 16,136 8,316 29,556 6,717 2,945 8,176 12,044 23,877 Collateral held against F.R. notes: Gold certificate account 11,072 Special Drawing Rights certif. ace 5,018 j Other eligible assets -0- U.S. govt, and agency securities 192,208 Total collateral 208,298 * Estimated (St. Louis District) 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