H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE LIBRARY fB§~ These data are scheduled for release each Thursday. The exact time of each release will be announced, when '^u£W^'' 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 March 3, 1988 Averages of dally 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 MMaarrcchh 22,, 11998888 Feb. 24, 1988 March 4, 1987 March 2, 1988 Reserve Bank credit: 1-2 239,363 + 966 + 19,016 239,031 U.S. government securities- Bought outright—system account 216,354 + 456 + 21,592 215,546 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 384 + 44 - 128 525 Includes: seasonal borrowing of 115 + 31 + 22 105 extended credit of 197 - 11 - 82 303 Float 622 + 5 - 7 1,220 Other F.R. assets 14,601 + 460 - 2,124 14,338 Gold stock 11,063 - 1 - 22 11,063 Special Drawing Rights certificate account 5,018 — — 5,018 Treasury currency outstanding 18,290 + ' 13 + 632 18,299 Total factors supplying reserve funds 273,734 + 978 + 19,626 273,411 Currency in circulation* 223,743 „« 763 + 17,503 224,178 Treasury cash holdings* 456 + 4 - 55 456 Deposits, other than reserve balances, with F.R. Banks: Treasury 2,921 - 1,190 - 406 3,034 Foreign 265 + 25 + 21 i 252 Service-related balances and adjustments3 2,493 + 300 + 395 1,658 Other 446 + 150 - 76 392 Other F.R. liabilities and capital 7,112 - 54 + 948 6,880 Total factors, other than reserve balances, absorbing reserve funds 237,436 - 1,528 + 18,330 236,850 Reserve balances with F.R. Banks « 36,299 + 2,506 ; + 1,297 36,561 On March 2, 1988 , marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 222,477 million, an increase of $ 1,876 million for the week. 1 Net of $ 3,843 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 3,843 million was with foreign official and international accounts, includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 4,728 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 4,728 million was with foreign official and international accounts, includes $ 221 million securities loaned—fully secured US. government securities. 3 Consists of required clearing balances of $ 1,658 million and adjustments of $ 835 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 BANKS Millions of dollars Change since ** WWeeddnneessddaayy Wednesday Wednesday March 2, 1988 February 24. 1988 March 4. 1987 ASSETS Gold certificate account 11,063 — + 4 Special Drawing Rights certificate account 5,018 — — Coin 511 - 2 - 66 Loans 525 + 272 «• 13 Acceptances- • __ ... — Held under repurchase agreements Federal agency obligations— Bought outright 7.402 — - 317 Held under repurchase agreements i — — — U.S. government securities: Bought outright—Bills 105,306 + 645 + 4,446 Notes 81,923 — + 14.250 Bonds 28.317 — + JL3&1 Total bought outright2 215,546 + 645 + 21 ,089 Held under repurchase agreements 1 — — Total U.S. government securities 215,546 ++ 664455"" ++ 21,089 Total loans and securities 223,473 + 917 + 20,759 Cash Items in process of collection (938) 7,507 + 1,540 + 587 Bank premises 711 + 1 + 42 Other assets 3 13,627 + 76 - 2,567 TOTAL ASSETS (938) 261,910 + 2.532 + 18,759 LIABILITIES Federal Reserve notes 206,846 + 140 + 16,691 Deposits: Depository institutions 38,219 + 1.063 + 2,587 U.S. Treasury—general account 3,034 + 529 - 905 Foreign—official accounts 252 + 46 + 3 Other 392 + 118 - 25 Total deposits 41,897 + 1,756 + 1,660 Deferred availability cash Items (938) 6,287 + 753 _ 373 Other liabilities and accrued dividends4 2,511 mm 29 + 272 TOTAL LIABILITIES (938) 257,541 + 2,620 + 113,250 CAPITAL ACCOUNTS Capital paid in 2,075 - 1 + 161 Surplus 2,047 — + 188 Other capital accounts 247 - 87 + 160 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 latest statement week. Net of $ 4,728 million matched sale-purchase transactions outstanding at the end of the latest statement week. Include! $ 221 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 $ 89 million in Treasury bills maturing within SO days. Includes exchange-translation account reflecting the monthly revaluation at market exchange rates of foreign exchange com mitments. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, March 2, 1988 Acceptances and securities held under repurchase agreements are claasifled 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 |Wf »ekly changes Within 15 days ! 494 - — 11,261 + 2,313 75 289 16 days to 90 days 31 — 50,748 - 1,668 710 + 48 91 days to 1 year 1 — — 66,280 + 21 1,855 + 293 Over 1 year to 5 years — — 47,562 - 21 3,246 52 Over 5 years to 10 years — —. * 14,196 — 1,327 — Over 10 years ««—— 2255,,449999 — 118899 — Total ""552255 221155,,554466 ++ 645 77..440022 — 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 March 2, 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 cert if. acct. 5,018 314 1,489 162 314 461 203 656 160 66 216 307 670 Coin 511 44 20 29 36 77 51 42 33 16 33 38 92 Loans 525 11 1 36 — 17 59 5 42 19 44 283 8 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 105,306 6,495 33,880 3,187 6,316 8,898 4,677 12,212 3,041 1,583 4.182 6,247 14,588 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 yl,746 9,110 857 1,698 2,393 .., ,, UU225588 33..22SS44.. 881188 442266 11,,112255 11,,668800 3,922 Total bought outright 2 215,546 13,294 69,348 6,523 12,928 18,213 99,,557733 2244,,999966 66,,222255 33,,224400 88,,556600 1122,,778877 29,859 Held under repurchase agreements 1 — ~ — — — — — — — — — — Total U.S. government securities 215,546 13,294 69,348 6,523 12,928 18,213 9,573 24,996 6,225 3,240 8,560 12,787 29,859 Total loans and securities Items in process of collection 223,473 13,762 71,730 6,783 13,372 18,856 9,961 25,659 6,481 3,370 8,898 13,509 30*"^ Bank premises ' 8*445 488 1,090 404 302 524 952 730 454 427 792 687 I,:,.? Other assets 3 711 92 33 47 32 113 56 76 20 23 47 20 152 Interdistrict settlement account u_ "°" - 449 + 6,362 - 758 - 971 - 1.254 + 423 + 382 4 641 - 242 - 257 - 971 - 2,906 TOTAL ASSETS [162,848 15,429 87,055 7,501 14,367 20,420 13,032 33,177 8,446 4, 111 10,734 15,085 33,492 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 $ ~°~ million was outstanding at the end of the latest statement week. 2 Net of $ 4,728 million matched saie-purchase transactions outstanding at the end of the latest statement week. Includes $ 221 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 $ 89 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 March 2, 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 206,846 12,478 70,462 4,934 12,147 16.529 7,716 28,668 6,769 2,998 8,513 11,668 23,964 Deposits: Depository institutions 38,219 2,208 10,468 1,894 1,512 2,923 4,144 2,920 1,050 501 1,147 2,329 7,123 U.S. Treasury—general account 3,034 — 3,034 — — — — — — — — — — Foreign-official accounts 252 5 142 7 8 9 13 19 4 5 6 13 21 Other 392 1 225 1 2 52 2 95 — 1 9 3 1 Total deposits 41,897 2,214 13,869 1,902 1,522 2,984 4,159 3,034 1,054 507 1,162 2,345 7,145 Deferred credit items 7,225 428 761 385 309 449 672 618 431 426 782 546 1,418 Other liabilities and accrued dividends 1 2,511 153 799 78 150 209 115 299 70 41 100 146 351 TOTAL LIABILITIES 258.479 15,273 85,891 7,299 14,128 20,171 12,662 32,619 8,324 3,972 10,557 14,705 32,878 CAPITAL ACCOUNTS Capital paid in 2,075 70 544 99 113 114 182 265 58 69 85 184 292 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 247 18 79 6 13 21 7 32 6 7 7 21 30 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 262,848 15,429 87,055 7,501 14,367 20,420 13,022 33,177 8,446 4,111 10,734 15.085 33,491 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 254,346 15,889 76,793 8,701 14,714 21,435 12,550 31,786 8,920 3,984 11,172 15,581 32,821 Less-Held by F.R. Banks 47,500 3,411 6,331 3,767 2,567 4,906 4,834 3,118 2,151 986 2,659 3,913 8,857 F.R. notes, net 206,846 12,478 70,462 4,934 12,147 16,529 7,716 28,668 6,769 2,998 8,513 11,668 23,964 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 190,765 Total collateral 206,846 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