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) 452-32uo. H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of F.R. Banks January 28, 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.. 2277,, 11998888 Jan, 20, 1988 Jan. 28, 1987 Jan. 27, 1988 Reserve Bank credit: 1< 2 244,822 + 264 + 10,621 245,867 U.S. government securities- Bought outright—system account 218,988 + 254 + 18,738 218,892 Held under repurchase agreements 501 + 501 - 2,625 1,390 Federal agency obligations- Bought outright 7,423 - 111 - 296 7,423 Held under repurchase agreements 204 + 204 - 475 611 Acceptances- Bought outright — — — — Held under repurchase agreements — — — — Loans to depository institutions 422 - 171 - 557 363 Includes: seasonal borrowing of 58 + 8 + 21 56 extended credit of 223 _ 218 _ 12 180 Float 1,508 - 391 - 2,816 943 Other F.R. assets 15,776 - 22 - 1,347 16,245 Gold stock 11,071 - 3 + 12 11,071 Special Drawing Rights certificate account 5,018 — — 5,018 Treasury currency outstanding 18,221 + 14 + 619 18,233 Total factors supplying reserve funds 279,132 + 275 + 11,252 280,189 Currency in circulation* 224,244 - 1,734 + 18,325 223,651 Treasury cash holdings* 436 - 13 - 25 436 Deposits, other than reserve balances, with F.R. Banks: Treasury 8,941 + 6,420 - 7,912 9,481 Foreign 226 - 121 - 4 220 Service-related balances and adjustments a 2,697 + 596 + 514 1,677 Other 383 + 54 - 77 383 Other F.R. liabilities and capital 7,618 + 70 + 1,167 7,459 Total factors, other than reserve balances, absorbing reserve funds 1 244,546 + 5,272 + 11,989 243,307 Reserve balances with F.R. Banks * 34,587 - 4,998 - 736 36,882 On January 27, 1988 • marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international'accounts were $ 210,231 million, an increase of $ 4,998 million for the week. 1 Net of $ 4,102 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4,102 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 4,199 miliion matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 4,199 million was with foreign official and international accounts. Includes $ 684 miliion securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,677 million and adjustments of $ ! »020 miliion 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 Wednesday January 27, 1988 January 20. 1988 January 2.. 1987 ASSETS Gold certificate account 11,071 13 Special Drawing Rights certificate account 5,018 Coin 465 + 23 65 Loans 363 + 87 19 Acceptances- Held under repurchase agreements Federal agency obligations— 7,423 - 296 Bought outright 611 + 611 + 408 Held under repurchase agreements1 U.S. government securities: 107,677 + 450 505 Bought outright—Bills 82,973 + 14,847 Notes 28,242 — + 2,518 Bonds 218,892 + 450 + IS.860 Total bought outright2 1,390 + 1,390 1,016 Held under repurchase agreements1 220,282 + 1,840 + 15,844 Total U.S. government securities 228,679 + 2,364 + 15,937 Total loans and securities (1,051) 7,086 - 11,082 4,890 Cash items in process of collection 704 - 3 + 41 Bank premises 15,541 + 582 - 714 Other assets 3 (1,051) 268,564 8,117 + 10,296 TOTAL ASSETS LIABILITIES Federal Reserve notes 206,319 1,979 + 16,293 Deposits: Depository institutions 38,559 7,289 + 2,939 U.S. Treasury—general account 9,481 + 5,622 6,261 Foreign—official accounts 220 - 11 - 20 Other 383 + 25 + 53 Total deposits 48,643 Deferred availability cash items (1,051) 6,143 4,644 - 4,010 Other liabilities and accrued dividends4 3,020 •f 163 + 915 TOTAL LIABILITIES (1.051) 264,125 8,113 + 9,909 CAPITAL ACCOUNTS Capital paid in 2,060 + 184 Surplus 2,047 + 174 Other capital accounts 332 + 29 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 $ 4,199 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes ill 684 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 $ 80 million in Treasury bills maturing within 90 days. Includes exchange-translation account reflecting the monthly revaluation at market exchange rates of foreign exchange co nmitments. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, January 27, 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 LLooaannss AAcccceeppttaanncceess Holdings |Weekly changes Holdings | Wee My changes Within 15 days 362 «._ 9,123 + 569 781 + 616 16 days to 90 days 1 — 52,598 - 1,000 886 + 105 91 days to 1 year _„ _ 70,519 + 2,271 1,538 + 65 Over 1 year to 5 years — _ _„. 47,410 _ _ 3,323 - 158 Over 5 years to 10 years —. _ 15,208 -.— 1,317 « 16 Over 10 years ^^55 2255,,442244 — 118899 1 Total 336633 222200,,228822 + 1,840 88,,003344 ++ 611 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 27, 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 11,071 706 3,170 385 664 933 596 1,383 351 169 562 669 1,483 Special Drawing Rights cert if. acct. 5,018 314 1,489 162 314 461 203 656 160 66 216 307 670 Coin 465 37 18 26 32 73 49 39 40 14 33 33 81 Loans 363 11 10 25 1 33 17 23 21 6 54 154 8 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 I 611 —*~ 611 —— """• —— __ — — —~* — U.S. government securities: Bought outright-Bills 107,677 6,641 34,643 3,258 6,458 9,099 4.782 12,487 3,110 1,619 4,276 6,388 14,916 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 9,087 855 1,694 2,386 1,254 3,275 816 424 1,122 1,675 3,912 Total bought outright 2 218,892 13,501 70,425 6,624 13,129 18,496 9,721 25,384 6,322 3,290 8,693 12,985 30,322 Held under repurchase agreements 1 1,390 — 1,390 — — — — — — — — — — Total U.S. government securities 220,282 13,501 71,815 6,624 13,129 18,496 9,721 25,384 6,322 3,290 8,693 12,985 30,322 Total loans and securities 228,679 13,970 74,824 6,874 13,575 19,156 10,068 26,268 6,557 3,408 9,042 13,579 31,358 Items in process of collection 8,137 579 1,038 582 293 511 709 628 362 430 1,077 598 1,330 Bank premises 704 93 33 46 32 111 56 71 20 23 47 20 152 Other assets 3 15,541 555 3,612 523 714 829 892 4,218 361 317 511 942 2,067 tnterdistrict settlement account -0- -1,288 + 11,152 -1,401 - 1,487 - 2,814 + 448 + 565 + 379 - 278 829 396 - 4,051 TOTAL ASSETS 269,615 14,966 95,336 7,197 14,137 19,260 13,021 33,828 8,220 4,149 10,659 15,752 33,090 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 $ 4,199 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 684 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 $ 80 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 27, 1988 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco LIABILITIES Federal Reserve notes 206,319 1 12,179 69,825 5,055 12,357 16,045 8,164 29,092 6,650 2,963 8,108 11,946 23,935 Deposits: Depository institutions 38,559 2,069 12,264 1,506 1,112 2,308 3,651 3,196 1.021 617 1,206 2,735 6,874 U.S. Treasury-general account 9,481 — 9,481 — — — — — — — — — — Foreign—official accounts 220 ! 5 110 7 8 9 13 19 4 5 6 13 21 Other 383 1 249 1 1 26 5 91 — 1 3 3 2 Total deposits 48,643 2,075 22,104 1,514 1,121 2,343 3,669 3,306 1,025 623 1,215 2,751 6,897 Deferred credit items 7,194 j 392 978 344 259 398 693 556 343 379 1,050 531 1,271 Other liabilities and accrued dividends 1 3,020 1 160 1,247 79 156 217 120 308 77 42 105 152 357 TOTAL LIABILITIES 265,176 uTsos 94,154 6,992 13,893 19,003 12,646 33,262 8,095 4,007 10,478 15,380 32,460 CAPITAL ACCOUNTS Capital paid in 2,060 69 541 98 112 115 181 264 58 69 85 176 292 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 332 23 100 10__ 19 28 13 41 9 10 11 21 47 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 269,615 14,966 95,336 7,197 14,137 19,260 13,021 33,828 8,220 4,149 10,659 15,752 33,090 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 253,163 15,489 75,785 8,847 14,995 21,143 12,991 31,832 8,839 3,987 10,809 15,816 32,630 Less-Heid by F.R. Banks 46,844 3,310 5,960 3,792 2,638 5,098 4,827 2,740 2,189 1,024 2,701 3,870 8,695 F.R. notes, net "* 206,319 ~ 12,179 69,825 ~ 5.055 12,357 16,045 8,164 29,092 6,650 2,963 8,108 11,946 23,935 Collateral held against F.R. notes: Gold certificate account 11,071 Special Drawing Rights certsf. ace 5,018 Other eligible assets -0- U.S. govt, and agency securities 190,230 Total collateral • 206,319 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