H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Of COw FEDERAL RESERVE These data are scheduled for release each Thursday, The exact time of each release will be announced, when '•"fvrm*: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 May 5, H Averages of daily figures (millions of dollars) Reserve balances of depository institutions at F.R Banks, Reserve Bank credit, and related items Week ended Change from week ended Wednesday (May 4, 1988 toxil^lZ^ 1968 jjjaxiu. i-M May 4, 1988 Reserve Bank credit: 1-2 256,245 8,871 + 5 038 257,935 S U.S. government securities- Bought outright—system account 223,044 1,547 + 16,976 221,829 Held under repurchase agreements 5,061 4,780 - 8,918 Federal agency obligations- Bought outright 7,279 404 7,279 Held under repurchase agreements 1,800 1,738 - 2,033 Acceptances- Bought outright Held under repurchase agreements Loans to depository institutions 2,414 + 380 393 2,214 Includes: seasonal borrowing of 216 -f 50 46 229 extended credit of 1,839 105 1,577 1,864 Float 686 111 374 728 Other F.R. assets 15,961 316 1,351 15,885 Gold stock 11,063 13 11,063 Special Drawing Rights certificate account 5,018 5,018 Treasury currency outstanding 18,397 631 18,409 Total factors supplying reserve funds 290,723 + 8,885 + 5,656 282,425 Currency in circulation* 228,667 + 636 + 18,212 229,388 Treasury cash holdings* 4 79 49 482 Deposits, other than reserve balances, with F.R. Banks: Treasury 14,094 9,711 - 8,750 9,682 Foreign 222 14 181 233 Service-related balances and adjustments 3 1,872 63 575 1,660 Other 363 39 188 333 Other F.R. liabilities and capital 7,356 49 + 252 6,940 Total factors, other than reserve balances, 253,05 + 10,277 + 8,723 248, absorbing reserve funds Reserve balances with F.R. Banks * 17,669 1,392 3,067 "33,687 On Hay 4, 1988 , marketable U.S. government securities held In custody by the Federal Reserve Banks for foreign official and international accounts were $ 228,833 million, an increase of $ 2*177 million for the week, 1 Net of $ 4,950 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4,728 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Met of $ 6,165 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 4,615million was with foreign official and international accounts, includes $ 357 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ l ,680 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 WeGn esday Wednesday May 4, 1988 April 27, 1988 May 6, 1987 ASSETS ! Gold certificate account 11,063 « 13 Special Drawing Rights certificate account 5,018 — Coin 440 - 11 - 75 Loans 2,214 - 62 + 472 Acceptances- Held under repurchase agreements _. Federal agency obligations- Bought outright 7,279 __ _ 404 Held under repurchase agreements1 _. 436 mm 2,790 U.S. government securities: Bought outright—Bills 104,852 _ 1,118 _ 2,312 Notes 87,684 + 14,306 BBoonnddss 29,293 — + 2,617 TToottaall bboouugghhtt oouuttrriigghhtt^^ 221,829 _ 1,118 + 14 611 HHeelldd uunnddeerr rreeppuurrcchhaassee aaggrreeeemmeennttss11 - 1,968 8,971 TToottaall UU..SS.. ggoovveerrnnmmeenntt sseeccuurriittiieess 221,829 — 3,086 + 5,640 Total loans and securities 231,322 _ 3,584 + 2,918 Cash items in process of collection i (1,159) 7,654 + 841 + 265 Bank premises 720 + 3 + 46 Other assets 3 15,165 63 1,259 TOTAL ASSETS ! (1,159) 271,382 - 2,814 + 1,882 LIABILITIES Federal Reserve notes 211,901 + 1,110 + 17,388 Deposits: U D . e S p . o T s r i e to a r s y u r in y— sti g tu e t n io er n a s l account 3355,,336677 - 22,,229999 - 2,545 99,,668822 11,,666611 Foreign—official accounts 13,361 223333 - 33 - Other 188 Total deposits 333 - 65 - 85 Deferred avaiiability cash items 45,615 — 4,028 - 16,179 Other liabilities and accrued dividends4 ((11,,115599)) 6,926 + 352 + 543 TOTAL LIABILITIES 2,470 - 201 - 12 | (1,159) 266,912 - 2,767 + 1,740 CAPITAL ACCOUNTS Capital paid in 2,096 + 182 Surplus 1 2,047 + 174 Other capital accounts 327 47 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» 165 iinon matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 357 m 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 $ 95 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, May 4, 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 2,102 14,328 2,045 11 566 16 day8 to 90 days 112 47,511 5,165 783 124 91 days to 1 year 66,230 643 1,843 6 Over 1 year to 5 years 51,873 677 3,292 Over 5 years to 10 years 15,422 1,161 Over 10 years 26,465 189 Total 2,214 221,829 3,086 7,279 436 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 May 4, 1988 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 certificate account 11,063 680 3,313 389 655 917 584 1,394 368 168 490 676 1,429 Special Drawing Rights certif. acct. 5,018 314 1,489 162 314 461 203 656 160 66 216 307 670 Coin 440 43 18 24 31 63 39 37 26 17 33 31 78 Loans 2,214 32 4 28 3 10 — 39 99 64 56 1,847 32 Acceptances held under repurchase agreements — — — — ~~ — Federal agency obligations: Bought outright 7,279 442 2,488 206 420 565 339 884 214 104 274 408 935 Held under repurchase agreements 1 — — — — — — — — — — — — — U.S. government securities: Bought outright—Bills 104,852 6,363 35,834 2,973 6,057 8,141 4,889 12,729 3,085 1,494 3,944 5,880 13,463 Notes 87,684 5,322 29,966 2,486 5,065 6,808 4,088 10,645 2,580 1,249 3,298 4,918 11,259 Bonds 29,293 1,778 10,011 830 1,692 2,274 1,366 3,557 862 417 1,102 1,643 3,761 Total bought outright 2 221,829 13,463 75,811 6,289 12,814 17,223 10,343 26,931 6,527 3,160 8,344 12,441 28,483 Held under repurchase agreements 1 — — — -- — — — — — — — — —• Total U.S. government securities 221,829 13,463 75,811 6,289 12,814 17,223 10,343 26,931 6,527 3,160 8,344 12,441 28,483 Total loans and securities 231,322 13,937 78,303 6,523 13,237 17,798 10,682 27,854 6,840 3,328 8,674 14,696 29,450 Items in process of collection 8,813 427 1,024 615 342 570 721 771 507 379 1,187 591 1,679 Bank premises 720 93 33 46 32 116 58 80 20 23 47 20 152 Other assets 3 15,165 578 3,729 482 698 817 929 4,231 356 301 488 886 1,670 Interdistrict settlement account -0- - 382 ' +3,717 - 493 - 200 - 208 -832 - 821 + 321 + 17 + 1,078 - 2,037 - 160 TOTAL ASSETS 272,541 15,690 91,626 7,748 15,109 20,534 12,384 34,202 8,598 4,299 12,213 15,170 34,968 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 $ 6,615 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 357 million securities loaned-fully secured by U.S. government securities. 3 includes assets denominated in foreign currencies, rewalued monthly at market exchange rates, includes special investment account at Chicayo of $ 95million 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 May 4, 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 211,901 12,604 71,581 5,402 13,002 16,867 7,989 29,122 6,943 3,121 9,450 11,581 24,239 Deposits: Depository institutions 35,367 2,325 , 7,212 1,654 1,393 2,712 3,127 3,477 968 595 1,348 2,422 8,134 U.S. Treasury—general account 9,682 — 9,682 — — . — — — — — — — Foreign—official accounts 233 5 123 7 8 9 13 19 4 5 6 13 21 Other 333 174 1 1 41 4 i03 __ — 3 3 3 Total deposits 45,615 22,,333300 17,191 1,662 1,402 2,762 3,144 3,599 972 600 1,357 2,438 8,158 Deferred credit items 8,085 446 830 410 326 460 756 613 492 403 1,136 568 1,645 Other liabilities and accrued dividends 1 2,470 149 813 70 138 186 M6 304 68 40 91 186 309 TOTAL LIABILITIES 268,071 15,529 90,415 7,544 14,868" 20,275 12,005 33,638 8,475 4,164 12,034 14,773 34,351 CAPITAL ACCOUNTS Capital paid in 2,096 73 547 100 113 118 185 266 58 66 85 192 293 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 327 20 123 7 15 27 13 37 7 6 9 30 33 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 272,541 15,690 91,626 7,748 15,109 20,534 12,384 34,202 8,598 4,299 12,213 15,170 34,968 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 257,159 15,996 77,856 8,977 15,401 21,199 12,149 31,435 8,910 3,906 12,062 15,394 33,874 Less-Held by F.R. Banks 45,258 3,392 6,275 3,575 2,399 4,332 4,160 2,313 1,967 785 2,612 3,813 9,635 F.R. notes, net 211,901 12,604 71,581 5,402 13,002 16,867 7,989 29,122 6,943 3,121 9,450 11,581 24,239 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 195,820 Total collateral 211,901 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