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) 452-3206. H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of F.R. Banks March 24, 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 MMaarrcchh 2233.. 11998888torch 16. 1988 March 25,1987 March 23, 1988 ii Reserve Bank credit: 1 * 239,723 - 982 + 18,627 241,387 U.S. government securities- Bought outright—system account 214,621 - 2,009 + 19,232 215,579 Held under repurchase agreements — — — — Federal agency obligations- Bought outright 7,401 1 318 7,399 Held under repurchase agreements — — — — Acceptances- Bought outright — — — — Held under repurchase agreements — — — — Loans to depository institutions 2,537 + 1,226 + 1,984 3,194 Includes: seasonal borrowing of 128 + 10 + 23 128 extended credit of 2,212 + 1,054 + 1,961 2,089 Float 455 — + 82 349 Other F.R. assets 14,709 197 2,354 14,866 Gold stock 11,063 — 19 11,062 Special Drawing Rights certificate account 5,018 — — 5,018 Treasury currency outstanding 18,320 + 10 + 616 18,329 Total factors supplying reserve funds 274,124 972 + 19,224 275,796 Currency in circulation* 225,695 + 10 + 18,396 225,684 Treasury cash holdings* 472 + 5 35 477 Deposits, other than reserve balances, with F.R. Banks: Treasury 2,676 633 189 2,145 Foreign 213 36 41 225 Service-related balances and adjustments3 1,914 + 91 61 1,654 Other 428 + 48 + 5 361 Other F.R. liabilities and capital 7,262 4- 148 + 833 7,092 Total factors, other than reserve balances, absorbing reserve funds 238,660 366 + 18,908 237,638 Reserve balances with F.R. Banks4 35,465 606 + 317 38,158 On March 23 1988 » marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 225,159 million, a decreaseof $ 1,841 million for the week. 1 Net of $ 5,694 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4^615 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 4,736 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 4,736 million was with foreign official and international accounts. Includes $ 366 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,654 million and adjustments of $ 260 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 K.4.1 (a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS Millions of dollars Change since ** WWeeddnneeeeddaayy I7e3n esday Wednesday March 23, 1988 March 16, 1988 March 25, 1987 ASSETS Gold certificate account 11,062 - 1 •- 21 Special Drawing Rights certificate account 5,018 — — Coin 513 + 1 - 59 Loans 3,194 + 227 f 2,621 Acceptances- Held under repurchase agreements — — — Federal agency obligations- Bought outright 7,399 3 320 Held under repurchase agreements1 — — — U.S. government securities: Bought outright—Bills 105,339 101 + 4,392 Notes 81,923 — + 14,250 Bonds 28,317 — + 2,393 Total bought outright2 215,579 - 101 + 21,035 Held under repurchase agreements1 — — Total U.S. government securities 215,579 TToo!! ++ 21,035 Totel loans and securities 226,172 + 123 + 23,336 Cash items in process of collection (983) 5,783 - 1,368 + 241 Bank premises 715 + 2 + 43 Other assets 3 14,151 + 174 - 2,436 TOTAL ASSETS (983) 263,414 - 1,069 + 21,104 LIABILITIES Federal Reserve notes 208,345 - 252 + 17,661 Deposits: Depository institutions 39,812 + 1,531 + 3,535 U.S. Treasury—general account 2,145 - 1,076 - 808 Foreign—official accounts 225 - 40 - 1 Other 361 - 163 - 249 Total deposits 42,543 + 252 + 2,477 Deferred availability cash items (983) 5,434 - 1,229 + 141 Other liabilities and accrued dividends4 2,593 + 158 + 440 TOTAL LIABILITIES (983) 258,915 - 1,071 + 20,719 CAPITAL ACCOUNTS Capital paid in 2,086 + 1 + 172 Surplus 2,047 + 174 Other capital accounts 366 + 1 + 39 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-purchaae transactions to foreign officia and international accounts of which $ -0- million was outstanding at the end of the lateet stetement week. Net of $ 4,736 million matched sale-purchase transactions outstanding at the end of the lateet statement week. Includes $ 366 million securities loaned—fully secured by U.S. government securities. Includes assets denominated in foreign currencies, revalued monthly at market exchange ratea. Includee special investment accour at Chicago of $ 90 million in Treasury bills maturing within 90 days. Includes exchange-translation account reflecting the monthly revaluation at market exchange ratee of foreign exchange com mitments. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, March 23, 1988 Acceptances and securities held under repurchase agreements are claaaified ae maturing within 15 days in accordance with maximui maturity of the agreements. U.S. government securities Federal agency obligation! Loans Acceptancee Holdings [Weekly changes Holdings [Weekly chan Within 15 days 3,177 8,295 3,005 w"9 2; 16 days to 90 days 17 54,131 16 674 91 days to 1 year 65,896 2,920 1,634 Over 1 year to 5 years 47,562 3,406 Over 5 years to 10 years 14,196 1,217 Over 10 years 25,499 189 Total 3,194 215,579 101 7,399 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 23, 1988 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco ASSETS 11,062 706 3,161 385 664 933 596 1,383 351 169 562 669 1,483 Gold certificate account Special Drawing Rights certif. acct. 5,018 314 1,489 162 314 461 203 656 160 66 216 307 670 CCooiinn 513 49 19 30 37 77 48 41 32 18 34 37 91 LLooaannss 3,194 16 700 34 — 98 — 95 33 43 76 2,068 31 Acceptances held under repurchase ' — — -- — — — — — — — — — agreements Federal agency obligations: Bought outright 7,399 456 2,380 224 444 625 329 858 214 Ill 294 439 1,025 Held under repurchase agreements 1 — — — — — — — — — — — — — '.',S. government securities: Bought outright-Bills 105,339 6,497 33,891 3^188 6,318 8,901 4,678 12,216 3,042 1,583 4,183 6,249 14,593 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 3,283 818 426 1,125 1,680 3,922 Total bought outright 2 215,579 13,297 69,359 6,524 12,930 18,216 9,574 24,999 6,226 3,240 8,561 12,789 29,864 HHeelldd uunnddeerr rreeppuurrcchhaassee aaggrreeeemmeennttss 11 — — — — — — — — — — — — — TToottaall UU..SS.. ggoovveerrnnmmeenntt sseeccuurriittiieess 215,579 13,297 69,359 6,524 12,930 18,216 9,574 24,999 6,226 3,240 8,561 12,789 29,864 Total loans and securities 226,172 13,769 72,439 6,782 13,374 18,939 9,903 25,952 6,473 3,394 8,931 15,296 30,920 ^tems in process of collection 6,766 431 799 292 271 417 596 489 395 311 969 469 1,327 ^ank premises 715 92 33 47 32 114 57 78 20 23 47 20 152 Other assets 3 14,151 507 3,300 467 653 757 811 4,125 324 290 468 853 1,596 nterdistrict settlement account -0- - 430 + 3,973 - 968 - 527 -1,403 + 541 + 1,352 + 662 - 70 + 454 -2,357 - 1,227 TOTAL ASSETS 264,397 15,438 85,213 7,197 14,818 20,295 12,755 34,076 8,417 4,201 11,681 15,294 35,012 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 $ 4,736 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 366 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 $ 90 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 23, 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 208,345 12,516 70,291 4,882 12,705 16,664 7,482 28,732 6,871 3,054 9,236 11,767 • 24,145 Deposits: Depository institutions 39,812 2,243 9,731 1,746 1,440 2,735 4,114 3,861 971 617 1,189 2,516 8,649 U.S. Treasury-general account 2,145 — 2,145 — — — — — — — — — — Foreign-official accounts 225 ! 5 115 7 8 9 13 19 4 5 6 13 21 Other 361 1 215 1 1 34 1 101 — 1 2 3 1 Total deposits 42,543 2,249 12,206 1,754 1,449 2,778 4,128 3,981 975 623 1,197 2,532 8,671 Deferred credit terns 6,417 352 693 272 266 375 635 486 372 338 966 448 1,214 Other liabilities and accrued dividends1 2,593 159 830 81 152 216 126 307 74 43 101 151 353 TOTAL LIABILITIES 259,898 15,276 84,020 6,989 14,572 20,033 12,371 33.506 8,292 4,058 11,500 14,898 34,383 CAPITAL ACCOUNTS Capital paid in 2,086 72 544 99 113 117 185 265 58 69 85 187 292 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 366 22 108 12 20 31 18 44 9 11 11 34 46 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 264,397 15,438 85,213 7,197 14,818 20,295 12,755 34,076 8,417 4,201 11,681 15,294 35,012 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 255,360 16,006 76,854 8,581 15,180 21,508 12,059 31,598 9,035 3,938 11,857 15,429 33,315 Less-Held by F.R. Banks 47,015 3,490 6,563 3,699 2,475 4,844 4,577 2,866 2,164 884 2,621 3,662 9,1/0 F.R. notes, net 208,345 12,516 70,291 4,882 12,705 16,664 7,482 28,732 6,871 3,054 9,236 11,767 24,145 Collateral held against F.R. notes: Gold certificate account 11,062 Special Drawing Rights certif. ace 5,018 Other eligible assets -0- U.S. govt, and agency securities 192,265 Total collateral 208,345 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