H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.;^£g&; 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) 452-3206. H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of F.R. Banks March 10, 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 J Wednesday [[MMaarrcchh 99,, 11998888 March 2, 1988 [March 11, 198 | March 9, 1988 Reserve Bank credit: L* I" 238,176 I = 1,187 + 16,239 238,243 U.S. government securities- Bought outright—system account 215,219 - 1,135 + 19,685 213,583 Held under repurchase agreements — — - 1,006 —" Federal agency obligations- Bought outright 7,402 — - 317 7,402 Held under repurchase agreements — — - 137 — Acceptances- Bought outright — — — — Held under repurchase agreements — — — — Loans to depository institutions 690 + 306 + 271 2,148 Includes: seasonal borrowing of 106 - 9 ' + 34 110 extended credit of 1 312 + 115 + 41 393 Float 572 - 50 + 137 629 Other F.R. assets 14,293 - 308 - 2,394 14,481 Gold stock 11,063 — - 20 11,063 Special Drawing Rights certificate account 5,018 — — 5,018 Treasury currency outstanding 18,300 + 10 + 627 18,309 Total factors supplying reserve funds 272,557 - 1,177 + 16,846 272,633 Currency in circulation* 224,799 + 1,056 + 17,566 225,419 Treasury cash holdings* 460 + 4 ~" 38 466 Deposits, other than reserve balances, with F.R. Banks: Treasury 2,951 + 30 ! - 440 3,300 Foreign 214 - 51 - 23 j 267 Service-related balances and adjustments3 1 964 - 529 — 79 | 1,657 Other 335 - 111 - 64 1 329 Other F.R. liabilities and capital 7,046 - 66 + 866 6,952 Total factors, other than reserve balances, absorbing reserve funds 237,768 + 332 I + 17,787 | 238,390 Reserve balances with F.R. Banks4 34,789 - 1,510 - 940 j 34,244 On March 9, 1988 , marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 224,689 million, an increase of $ 2,212 million for the week. 1 Net of $ 5,055 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4,304 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 6,691 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 4,063 million was with foreign official and international accounts, includes $ 360 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,657 million and adjustments of $ 307 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 since ** WWeeddnneessddaayy Wednesday Wednesday March 9, 1988 March 2. 1988 , March 11. 1987 ASSETS Gold certificate account 11,063 — - 22 Special Drawing Rights certificate account 5,01B — — Coin 510 - 1 - 68 Loans 2,148 + 1,623 + 1,693 Acceptances- — — Held under repurchase agreements Federal agency obligations-" Bought outright 7,402 —— —. 317 Held under repurchase agreements1 —-* —~ — 472 U.S. government securities: Bought outright—Bills 103,343 - 1,963 + 881 Notes 81,923 — + 14,250 Bonds 2288,,331177 — ++ 2,393 Total bought outright? 221133,,558833 ««.. 1,963 ++ 17,524 Held under repurchase agreements 1 — — 3,281 Total U.S. government securities 213,583 __ 1,963 ++ 14,243 Total loans and securities 223,133 - 340 + 15,147 Cash Items in process of collection (973) 6,641 - 866 •f 696 Bank premises 715 + 4 + 42 Other assets 3 13,766 + 139 - 2,680 TOTAL ASSETS | (973) 260,846 - 1,064 + 13,115 LIABILITIES Federal Reserve notes 208,085 + 1,239 + 16,941 Deposits: Depository institutions 35,901 - 2,318 - 5,534 U.S. Treasury—general account 3,300 + 266 + 585 Foreign—official accounts 267 + 15 + 71 Other 329 - 63 - 83 Total deposits 39,797 - 2,100 - 4,961 Deferred availability cash items (973) 6,012 - 275 + 435 Other liabilities and accrued dividends4 2,473 - 38 + 327 TOTAL LIABILITIES (973) 256,367 - 1,174 + 12,742 CAPITAL ACCOUNTS Capita! paid in 2,083 + 8 + 170 Surplus 2,047 ~— + 174 Other capital accounts 349 + 102 + 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 $ 6,691 million matched sale-purchase transactions outstanding at the %r\6 of the latest statement week. Includes $ 360 million securities loaned—fully secured by U.S. government securities. Includes assets denominated in foreign currencies, revalued monthly at market exchange ratea. Includes special investment account at Chicago of $ 86 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, March 9, 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 (Weekly changes Within 15 days 2,115 — 8,324 - 2,937 78 + 3 18 days to 90 days 33 — 51,705 + 957 928 + 218 91 days to 1 year — — 66,297 + 17 1,634 221 Over 1 year to 5 years — — 47,562 — 3,246 _— Over 5 years to 10 years — — 14,196 —— 1,327 Over 10 years 5555 2255,,449999 __ — 118899 ""**" Total 2,148 221133,,558833 1,963 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 9, 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 510 45 20 28 35 77 52 42 33 17 33 37 91 Loans 2,148 9 1,140 30 450 22 1 7 33 24 45 371 16 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 103,343 6,374 33,249 3,127 6,199 8,732 4,590 11,984 2,984 1,553 4,104 6,131 14,316 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 1,746 9,110 857 1,698 2,393 1,258 3,284 818 426 1,125 1,680 3,922 Total bought outright 2 213,583 13,173 68,717 6,463 12,811 18,047 9,486 24,768 6,168 3,210 8,482 12,671 29,587 Held under repurchase agreements 1 — — — ~ — ~ __ — — — — — — Total U.S. government securities 213,583 13,173 68,717 6,463 12,811 18,047 9,486 24,768 6,168 3,210 8,482 12,671 29,587 Total loans and securities 223,133 13,639 72,238 6,717 13,705 18,695 9,816 25,633 6,415 3,345 8,821 13,481 30,628 Items in process of collection 7,614 449 1,180 316 269 448 884 521 392 328 1,040 491 1,296 Bank premises 715 93 33 47 32 113 57 78 20 23 47 20 152 Other assets 3 13,766 483 3,145 463 631 729 797 4,078 318 285 453 832 1,552 Interdistrict settlement account -0- - 119 + 3,433 - 514 - 1,297 - 869 + 708 +1,288 + 850 + 15 + 712 - 487 - 3,720 TOTAL ASSETS 261,819 15,610 84,700 7,604 14,353 20,587 13,113 33,679 8,539 4,248 11,884 15,350 32,152 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 $ 6,691 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 360 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 $ 86 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 9, 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 208,085 12,572 70,415 4,981 12,205 16,709 7,731 28,751 6,843 3,026 9,241 11,707 23,904 Deposits: Depository institutions 35,901 2,360 7,569 1,993 1,489 2,950 4,210 3,434 1,122 685 1,326 2,649 6,114 U.S. Treasury-general account 3,300 3,300 Foreign—official accounts 267 5 157 7 8 9 13 19 6 13 21 Other 329 1 176 1 1 51 2 91 3 2 1 Total deposits 39,797 2,366 11,202 2,001 1,498 3,010 4,225 3,544 1,126 690 1,335 2,664 6,136 Deferred credit Items 6,985 361 1,099 338 258 409 662 519 373 348 1,031 443 1,144 Other liabilities and accrued dividends1 2,473 150 792 77 147 206 114 296 71 41 95 145 339 TOTAL LIABILITIES 257,340 15,449 83,508 7,397 14,108 20,334 12,732 33,110 8,413 4,105 11,702 14,959 31,523 CAPITAL ACCOUNTS Capital paid in 2,083 71 544 99 113 116 184 265 58 69 85 187 292 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 349 22 107 11 19 23 16 43 10 11 12 29 46 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 261,819 15,610 84,700 7,604 14,353 20,587 13,113 33,679 8,539 4,248 11,884 15,350 32,152 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 254,740 15,956 76,895 8,634 14,673 21,501 12,371 31,675 8,921 3,970 11,808 15,524 32,812 Less-Held by F.R. Banks 46,655 3,384 6,480 3,653 2,468 4,792 4,640 2,924 2,078 944 2,567 3,817 8,908 F.R. notes, net 208,085 12,572 70,415 4,981 12,205 16,709 7,731 28,751 6,843 3,026 9,241 11,707 23,904 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 192,004 Total collateral 208,085 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