H.4.1 Factors Affecting Reserve Balances of Depository Institutions

s^k FEDERAL RESERVE These data are scheduled for release each Thursday. The exact time of each release will be announced when f^TiES^V 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 February 25, 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 1 Change from week ended Wednesday FFeebb.. 2244,, 11998888 Feb. 17, 1988 [Feb. 25, 1987 Feb. 24, 1988 Reserve Bank credit: 12 238,420 _ 1,319 +~~ 19,353 237,250 U.S. government securities- Bought outright—system account 215,898 + 3,290 + 22,524 214,901 Held under repurchase agreements — — — — Federal agency obligations- Bought outright 7,402 — - 317 7,402 Held under repurchase agreements — — — — Acceptances- Bought outright — — — — Held under repurchase agreements — — — — Loans to depository institutions 340 - 169 - 274 253 Includes: seasonal borrowing of 84 + 15 - 4 92 extended credit of 208 - 47 - 96 121 Float 642 - 3,282 + 98 433 Other F.R. assets 14,139 - 1,157 - 2,678 14,261 Gold stock 11,064 - 1 - 18 11,063 Special Drawing Rights certificate account 5,018 — — 5,018 Treasury currency outstanding 18,277 + 14 + 630 18,289 Total factors supplying reserve funds 272,779 - 1,306 + " 19,965 271,620 Currency in circulation* 224,506 - 536 + 18,049 224,027 Treasury cash holdings* 452 + 4 - 42 456 Deposits, other than reserve balances, with F.R. Banks: Treasury 4,111 + 686 - 97 2,505 Foreign 240 + 10 + 21 206 Service-related balances and adjustments 3 2,193 + 191 + 92 1,681 Other 296 - 25 - 103 274 Other F.R. liabilities and capital 7,166 - 1,027 +_ 745 6,997 Total factors, other than reserve balances, absorbing reserve funds 238,964 - 697 + 18,665 236,146 Reserve balances with F.R. Banks« 33,816 - 609 + 1,302 35,475 On February 24, 1988 , marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 220,601 million, an increase of $ 4,548 million for the week. 1 Net of $ 4,032 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $4,032 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 5,037 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 5,037 million was with foreign official and international accounts. Includes $ 317 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,681 million and adjustments of $ 512 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 AIL FEDERAL RESERVE BANKS Millions of dollars Change since •• WWeeddnneessddaayy Wednesday Wednesday February 24, 1988 February 17, 1988 February 25, L987 ASSETS Gold certificate account 11,063 - 2 + 4 Special Drawing Rights certificate account 5,018 — — Coin 513 + 10 - 66 Loans 253 - 209 - 936 Acceptances- — — — Held under repurchase agreements Federal agency obligations- Bought outright 7,402 — 317 Held under repurchase agreements 1 — — — U.S. government securities: Bought outright—Bills 104,661 2,633 + 8,215 Notes 81,923 — + 14,250 Bonds 2288,,331177 — ++ 2,393 Total bought outright^ 221144,,990011 2,633 ++ 24, £58 Held under repurchase agreements1 — — — Total U.S. government securities 214,901 2,633 ++ 24,£58 Total loans and securities 222,556 _ 2,842 + 23,! 55 Cash items in process of collection (1,024) 5,967 - 5,658 - ;i5 Bank premises 710 + 3 + 44 Other assets 3 13,551 + 70 - 2,f>33 TOTAL ASSETS (1,024) 259,378 - 8,419 + 20, .89 LIABILITIES Federal Reserve notes 206,706 - 1,264 + 17, 101 Deposits: Depository institutions 37,156 - 1,433 + 4, +96 U.S. Treasury—general account 2,505 - 2,481 - 1,546 Foreign—official accounts 206 - 37 + 34 Other 274 - 40 - 366 Total deposits 40,141 - 3,991 + 2,518 Deferred availability cash items (1,024) 5,534 - 3,287 - 213 Other liabilities and accrued dividends4 2,540 + 106 + 414 TOTAL LIABILITIES (1,024) 254,921 - '8,436 + 19,320 CAPITAL ACCOUNTS Capital paid in 2,076 + 10 + 166 Surplus 2,047 — + 174 Other capital accounts 334 + 7 + 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 $ 5,037 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 317 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 $ 85 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, February 24, 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 236 8,948 5,739 364 75 16 days to 90 days 17 52,416 14 662 75 91 days to 1 year 66,259 3,120 1,562 Over 1 year to 5 years 47,583 3,298 Over 5 years to 10 years 14,196 1,327 Over 10 years 25,499 189 Total 253 214,901 2,633 7,402 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 February 24, 1988 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco ASSETS Gold certificate account 11,063 706 3,162 385 664 933 596 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 513 43 21 29 35 76 54 41 34 16 33 38 93 Loans 253 12 3 26 — 8 1 9 36 15 39 98 6 Acceptances held under repurchase agreements — — — — — — — — — — — — — Federal agency obligations: Bought outright 7,402 457 2,381 224 444 626 329 858 214 Ill 294 439 1,025 Held under repurchase agreements 1 — -- — — — -- — — — — — — U.S. government securities: Bought outright-Bills 104.661 6,455 33,673 3,167 6,277 8,844 4,648 12.137 3,023 1,573 4,156 6.209 14,499 Notes 81,923 5,053 26,358 2,479 4,914 6.922 3,638 9.500 2,366 1.231 3,253 4,860 11,349 Bonds 28,317 1,747 9,110 857 1,698 2,393 1.258 3,284 817 426 1,125 1,680 3,922 Total bought outright 2 214,901 13,255 69,141 6,503 12,889 18,159 9.544 24,921 6,206 3,230 8,534 12,749 29,770 Held under repurchase agreements * — ~ — — — — — — — — — — — Total U.S. government securities 214,901 13,255 69,141 6,503 12,889 18,159 9.544 24,921 6,206 3,230 8,534 12,749 29,770 Total loans and securities 222,556 13,724 71,525 6,753 13,334 18,792 9.874 25.788 6,456 3,356 8,867 13,286 30,801 Items in process of collection 6,991 429 756 343 289 408 616 582 393 316 1,000 507 1,352 Bank premises 710 93 33 46 32 112 56 76 20 23 47 20 152 Other assets 3 13,551 470 3,077 453 639 708 790 4.042 307 289 446 824 1,506 Interdistrict settlement account -0- 619 + 6,118 - 674 - 1,253 - 1,749 f 467 + 513 + 599 + 19 443366 882266 - 2,159 TOTAL ASSETS 260,402 15,160 86,181 7,497 14,053 19,742 12.656 33.081 8,320 4,254 1100..773355 1144,,882255 33,898 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 $ 5,037 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 317 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 $ 85 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 February 24 , 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 206,706 12,530 70,335 4,957 12,123 16,453 7,899 28,541 6,728 2,979 8,345 11,666 24,150 Deposits: Depository institutions 37,156 1,956 10,432 1,926 1,255 2,409 3,592 3,047 1,033 761 1,104 2,162 7,479 U.S. Treasury—general account 2,505 — 2,505 — — — — — — — — — — Foreign—official accounts 206 5 95 7 8 9 13 19 4 5 6 13 22 Other 274 1 144 2 11 19 3 92 — — 6 3 3 Total deposits 40,141 1,962 13,176 1,935 11,,226644 2,437 3,608 3,158 1,037 766 1,116 2,178 7,504 Deferred credit items 6,558 352 679 321 269 382 654 510 358 324 991 450 1,268 Other liabilities and accrued dividends 1 2,540 156 805 79 152 212 117 304 72 42 102 149 350 TOTAL LIABILITIES 255,945 15,000 84,995 7,292 13,808 19,484 12,278 32,513 8,195 4,111 10,554 14,443 33,272 CAPITAL ACCOUNTS Capital paid in 2,076 70 543 98 113 115 182 265 58 69 85 186 292 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 334 22 102 10 19 29 15 42 9 11 11 21 43 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 260,402 15,160 86,181 7,497 14,053 19,742 12,656 33,081 8,320 4,254 10,735 14,825 33,898 FEDERAL RESERVE AGENTS' ACCOUNTS . F.R. notes outstanding 254,410 15,908 76,505 8,758 14,757 21,530 12,764 31,759 8,921 3,939 11,030 15,634 32,905 Less-Held by F.R. Banks 47,704 3,378 6,170 3,801 2,634 5,077 4,865 3,218 2,193 960 2,685 . 3,968 8,755 F.R. notes, net 206,706 12,530 70,335 4,957 12,123 16,453 7,899 28,541 6,728 2,979 8,345 \1,666 24,150 Collateral held against F.R. notes: Gold certificate account 11,063 Special Drawing Rights certif. ace 5,018 Other eligible assets -0- U.S. govt, and agency securities 190,625 Total collateral 206,706 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