H.4.1 Factors Affecting Reserve Balances of Depository Institutions

isS^fc. 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 31, 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 3300.. 11998888 March 23, 1988 \priL 1, 1987 March 30, 1988 Reserve Bank credit:*. * 240,568 + 852 + 17,836 240,110 U.S. government securities- Bought outright—system account 215,325 + 704 + 18,776 215,160 Held under repurchase agreements — — — — Federal agency obligations- Bought outright 7,399 - 2 - 320 7,399 Held under repurchase agreements — — — — Acceptances- Bought outright — — — — Held under repurchase agreements — — — — Loans to depository institutions 2,465 - 72 + 1,775 2,134 Includes: seasonal borrowing of 131 + 3 + 32 129 extended credit of 2,245 + 33 + 1,980 1,943 Float 501 + 40 - 606 430 Other F.R. assets 14,877 + 181 - 1,790 14,987 Gold stock 11,062 - 1 .- 19 11,063 Special Drawing Rights certificate account 5,018 — — 5,018 Treasury currency outstanding 18,330 + 10 + 612 18,339 Total factors supplying reserve funds 274,978 + 861 + 18,429 274,530 Currency in circulation* 225,708 + 13 + 18,332 226,492 Treasury cash holdings* 477 + 5 - 39 475 Deposits, other than reserve balances, with F.R. Banks: Treasury 2,568 - 108 - 457 3,190 Foreign 226 + 13 -. 33 207 Service-related balances and adjustments3 1,863 - 51 - 173 1,671 Other 483 + 55 + 24 479 Other F.R. liabilities and capital 7,214 - 48 + 645 7,047 Total factors, other than reserve balances, absorbing reserve funds 238,540 - 120 + 18,300 239,561 Reserve balances with F.R. Banks4 36,438 + 980 + 129 34,96? On March 30,1988 , marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 225,449 million, an increase of $ 290 million for the week. 1 Net of $ 4,998 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4,998 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 5,172 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 5,172 million was with foreign official and international accounts. Includes $ 755 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,671 million and adjustments of $ 192 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 30, 1988 March 23, 1988 April 1, 1987 ASSETS Gold certificate account 11,063 + 1 ~ 18 Special Drawing Rights certificate account 5,018 —~ _ •"•" Coin 489 - 24 — 74 Loans 2,134 - 1,060 + 1,538 Acceptances- Held under repurchase agreements — — — Federal agency obligations- Bought outright 7,399 320 Held under repurchase agreements4! _r_ U.S. government securities. 1 ft / ft O ft Bought outright—Bills 104,920 419 + 3,699 Notes 81,923 — + 12,286 Bonds 28,317 — + 2,162 Total bought outright2 215,160 - 419 + 18,147 Held under repurchase agreements1 — — — Total U.S. government securities 215,160 - 419 + 18,147 Total loans and securities 224,693 - 1,479 + 19,365 Cash items in process of collection (883) 5,994 + 211 - 1,250 Bank premises 716 + 1 + 45 Other assets 3 14.771 + L2H - ?,on TOTAL ASSETS (883) 262,244 - 1,170 + 16,055 LIABILITIES Federal Reserve notes 209,117 + 772 + 17,726 Deposits: Depository institutions 36,640 - 3,172 + 497 U.S. Treasury—general account 3,190 + 1,045 1,373 Foreign—official accounts 207 - 18 - 192 Other 479 + 118 - 6 Total deposits 40,516 - 2,027 - 1,074 Deferred availability cash items (883) 5,564 + 130 — 1,103 Other liabilities and accrued dividends4 22..554477 -- 46 ++ 221144 TOTAL LIABILITIES ((888833)) 225577,,774444 1,171 ++ 115577775577 CAPITAL ACCOUNTS Capital paid in 2,093 + 7 + 176 Surplus 2,047 — + 173 Other capital accounts 360 - 6 - 57 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 offici and international accounts of which $ -0- million was outstanding at the end of the latest statement week. Net of $ 5, i72million matched sale-purchase transactions outstanding at the end of the latest statement week, includes $ 755 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 accot at Chicago of $ 8Zf 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 30, 1988 Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximt maturity of the agreements. U.S. government securities Federal agency obligation Loans Acceptances Holdings [Weekly changes | Holdings [Weekly cha Within 15 days 2,113 10,595 + 2,300 385 16 days to 90 days 21 51,377 + 2,754 592 91 days to 1 year 65,931 + 35 1,634 Over 1 year to 5 years 47,562 3,381 Over 5 years to 10 years 14,196 1,217 Over 10 years 25,499 190 Total 2,134 215,160 5,089 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 30,1 Millions of dollars ___ Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis K C an it s y a s Dallas Fra S n a c n is co ASSETS Gold certif cate 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 489 48 19 28 35 72 45 40 31 17 32 35 87 Loans 2,134 14 1 29 — 8 1 24 31 41 46 1,926 13 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 __ __ — — — -_ — — ~ — — — U.S. government securities: Bought outright-Bills 104,920 6,471 33,756 3,175 6 ,293 8,866 4,660 12,167 3,030 1,577 4,167 6.224 14,534 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 1,257 3,284 818 426 1,124 1,680 3,923 Total bought outright 2 215,160 13,271 69,224 6,511 12 ,905 18,181 9,555 24.951 6,214 3,234 8,544 12,764 29,806 Held under repurchase agreements 1 — — — — — — — — — — — — — Total U.S. government securities 215,160 ~13,271 69,224 6,511 U ,905 18,181 9,555 24,951 6,214 3,234 8,544 12,764 29,806 Total loans and securities 224,693 13,741 71,605 6,764 13 ,349 18,814 9,885 25,833 6,459 3,386 8,884 15,129 30,844 Items in process of collection 6,877 353 863 328 241 432 819 564 398 329 702 448 1,400 Bank premises 716 92 33 47 32 115 57 78 20 23 47 20 152 Other assets 3 14,271 516 - 3,317 470 665 772 820 4,148 331 293 469 862 1,608 Interdistrict settlement account -0- - 427 + 4,291 -1,023 -_ 57 - 786 + 283 + 182 + 692 - Ill + 458 - 2,602 900 TOTAL ASSETS 263,127 15,343 84,779 7,161 ,243 20,813 12,708 32,884 8,442 4,172 11,370 14,868 35,344 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 $ 5,172 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 755 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 $ 84 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 3C 1. 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 209,117 12,504 70,096 4,977 12,965 16,791 7,867 28,479 6,878 3,027 9,313 11,774 24,446 Deposits: Depository institutions 36,640 2,191 8,289 1,599 1,608 3,112 3,575 2,889 1,008 618 1,082 2,110 8,559 U.S. Treasury-general account 3.190 3.190 Foreign—official accounts 207 5 97 7 8 9 13 19 4 5 6 13 21 Other 479 340 1 1 33 2 93 1 4 3 1 Total deposits 40.516 2,196 11,916 1,607 1,617 3,154 3,590 3,001 1,012 624 1,092 2.126 8,581 Deferred credit items 6.447 325 757 290 264 395 751 532 353 337 684 421 1,338 Other liabilities and accrued dividends 1 2.547 155 820 78 152 212 116 304 73 42 101 148 346 TOTAL LIABILITIES 258,627 15,180 83,589 6.952 14,998 20,552 12,324 32,316 8,316 4,030 11,190 14,469 34,711 CAPITAL ACCOUNTS Capital paid in 2,093 72 544 100 113 117 185 265 59 69 85 191 293 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 360 23 105 12 19 30 18 42 9 10 10 33 49 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 263,127 15,343 84,779 7,161 15,243 20,813 12,708 32,884 8,442 4,172 11,370 14,868 35,344 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 255,333 15,910 .76,648 8,615 15,312 • 21,409* 12,285 31,234 8,956 3,936 11,876 15,505 33,647 Less-Held by F R, Banks 46,216 3,406 6,552 3.638 2,347 4,618 4,418 2,755 2,078 909 2,563 3,731 9,201 F. R. notes, net 209,117 1122,,550044 .. 7700,,009966 44,,997777 1122,,996655 1166,,779911 77,,886677 2288,,447799 66,,887788 33..002277 99,,331133 1111,,777744 24,446 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 193,036 Total collateral 209,117 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