H.4.1 Factors Affecting Reserve Balances of Depository Institutions

. O* °Ol/i FEDERAL RESERVE These data are scheduled for release each Thursday. The exact time of each release will be announced, when ••.f«?B^ the information is avaiteWe, on (202) 452-3206. H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of F.R. Banks May 19, 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 MMaayy 1188,, 11998888 May 11, 1988 [May 20, 1987 Mav 18. 1988 Reserve Bank credit: 12 251,300 - 2,388 + TT7642 244,790 U.S. government securities- Bought outright—system account 223,123 _ 343 + 17,449 218,978 Held under repurchase agreements 2,127 - 661 4,449 — Federal agency obligations- Bought outright 7,268 - 11 415 7,268 Held under repurchase agreements 508 - 526 1,820 — Acceptances- Bought outright — — — — Held under repurchase agreements — — — — Loans to depository institutions 2,270 + 190 + 1,379 2,905 Includes: seasonal borrowing of 243 + 4 + 46 239 extended credit of 1,864 + 133 + 1,583 2,457 Float 779 _ 56 237 1,203 Other F.R. assets 15,225 _ 981 266 14,436 Gold stock 11,063 9 11,063 Special Drawing Rights certificate account 5,018 — — 5,018 Treasury currency outstanding 18,425 -f 14 + 636 18,437 Total factors supplying reserve funds 285,806 - "2,374 + 12,269 279,308 Currency in circulation* 230,569 + 497 + 18,573 230,666 Treasury cash holdings* 479 — 2 46 470 Deposits, other than reserve balances, with F.R. Banks: \ Treasury 5,996 - 7,156 8,944 2,610 Foreign 244 _ 35 42 .260 Service-related balances and adjustments 3 1,897 _ 49 144 1,674 Other . 322 + 14 52 320 Other F.R. liabilities and capital 7,443 ±_ 210 4- 511 7,120 Total factors, other than reserve balances, 246,950 _ 6,521 + 9,856 243,120 absorbing reserve funds Reserve balances with F.R. Banks 4 38,856 + 4,146 4- 2,413 36,188 On May 18, 1988 . marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 231,623 million, an increase of $ 1,726 million for the week. 1 Net of $ 4,871 rnillion, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4,306 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 9,016 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 5,062 million was with foreign official and international accounts. Includes $ 714 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,674 million and adjustments of $ 223 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 May 18, 1988 May 11, 1988 May 20, 1987 ASSETS Gold certificate account 11,063 9 Special Drawing Rights certificate account I 5,018 — Coin 441 + 2 70 Loans 2,905 + 963 + 1,314 Acceptances- Held under repurchase agreements Federal agency obligations- 7,268 - 11 - 415 Bought outright — - 1,423 - 1,433 Held under repurchase agreements 1 U.S. government securities: 102,001 — 4,093 + 2,001 Bought outright—Bills 87,484 - 200 + 14,181 Notes 29,493 + 200 + 2,742 Bonds 218,978 - 4,093 + 18,924 Total bought outright 2 — —— 44,,886644 3,051 Held under repurchase agreements1 218,978 88,,995577 ++ 15,873 Total U.S. government securities 229,151 - 9,428 + 15,339 Total loans and securities (1,161) 7,221 + 563 - 782 Items in process of collection 723 + 4 + 46 Bank premises 13,713 - 1,805 - 764 Other assets3 (1,161) 267,330 — 10,664 + 13,760 TOTAL ASSETS LIABILITIES Federal Reserve notes 213,140 + 76 + 17,562 Deposits: Depository institutions 37,862 - 2,814 + 5,809 U.S. Treasury—general account 2,610 - 8,029 - 9,998 Foreign—official accounts 260 - 2 - 37 Other 320 + 16 + 22 Total deposits 41,052 - 10,829 - 4,204 Deferred credit items (1,161) 6,018 + 142 - 139 Other liabilities and accrued dividends* 2,590 - 43 + 204 TOTAL LIABILITIES (1,161) 262,800 - 10,654 + 13,423 CAPITAL ACCOUNTS Capital paid in 2,100 + 2 + 152 Surplus 2,047 — + 174 Other capital accounts 383 •- 12 + 11 * Figures in parentheses are the eliminations made in the consolidating process. 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 atatement week. 2 Net of $ 9,016 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 714 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 $ 95 million in Treasury bills maturing within 90 days. 4 Includes exchange-translation account reflecting the monthly revaluation at market exchange rates of foreign exchange com mitments. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, Wednesday, May 18, 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 obligatione LLooaannss AAcccceeppttaanncceess Holdings |Weekly changes Holdings [Weekly changes Within 15 days 2,884 — 5,SOS- - 13,761 268 - 1,214 16 days to 90 days 21 — SI,096 + 147 576 - 160 91 days to 1 year — — 66,400 + 2,741 1,782 - 61 Over 1 year to 5 years — — 53,734 + 1,861 3,292 + 1 Over 5 years to 10 years — — 15,435 + 13 1,161 — Over 10 years — -55 26,508 218,978 + 1 -55 26,508 42 189 — Total 2,905 218,978 8,957 7,268 + 1 42 189 8,957 7,268 1,434 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 18» 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 ci n s 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 441 41 17 23 30 62 45 38 26 16 34 32 77 Loans 2,905 37 6 20 3 16 4 50 106 61 127 2,433 42 Acceptances held under repurchase agreements Federal agency obligations: Bought outright 7,268 441 2,484 206 420 564 339 882 214 104 273 408 933 Held under repurchase agreements 1 U.S. government securities: Bought outright-Bills 102,001 6,191 34,859 2,892 5,892 7,919 4,756 12,383 3,001 1,453 3,837 5,721 13,097 Notes 87,484 5,309 29,898 2,480 5,054 6,793 4,079 10,621 2,574 1,246 3,291 4,906 11,233 Bonds 29,493 1,790 10,079 836 1,704 2,290 1,375 3,581 868 420 1.109 1,654 3,787 Total bought outright 2 218,978 13,290 74,836 6,208 12,650 17,002 10,210 26,585 6,443 3,119 8,237 12,281 28,117 Held under repurchase agreements 1 Total U.S. government securities 218,978 13,290 74,836 6,208 12,650 17,002 10,210 26,585 6,443 3,119 8,237 12,281 28,117 Total loans and securities 229,151 13,768 77,326 6,434 13,073 17,582 10,553 27,517 6,763 3,284 8,637 15,122 29,092 Items in process of collection 8,382 534 1,078 428 324 692 816 734 504 393 1,070 563 1,246 Bank premises 723 92 33 47 32 117 57 83 20 23 47 20 152 Other assets 3 13,713 455 3,105 431 684 676 776 4,013 305 269 422 795 1,782 Interdistrict settlement account -0- - 132 + 203 + 576 + 74 + 219 + 62 + 58 + 458 + 395 + 1,063 - 2,830 - 146 TOTAL ASSETS 268,491 15,752 86,564 8,490 15,186 20,726 13,096 34,493 8,604 4,614 11,979 14,685 34,302 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 $ 9,016 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 714 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 $ 95 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 May 18. 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 LIABILITIES Federal Reserve notes 213,140 12,791 72,012 5,899 13,059 16,876 7,828 29,417 6,930 3,315 9,480 11,529 24,004 Deposits: Depository institutions 37,862 2,239 8,658 1,934 1,419 2,880 4,100 3,412 1,039 721 1,188 2,057 8,215 U.S. Treasury—general account 2,610 2,610 Foreign—official accounts 260 5 150 7 8 9 13 19 4 5 6 13 21 Other 320 162 1 1 36 2 104 1 3 8 2 Total deposits 41,052 2,244 11,580 1,942 1,428 2,925 4,115 3,535 1,044 726 1,197 2,078 8,238 Deferred credit items 7,179 396 911 367 306 467 646 643 431 395 1,024 482 1,111 Other liabilities and accrued dividends 1 2,590 156 850 74 147 195 122 320 73 41 97 191 324 TOTAL LIABILITIES 263,961 15,587 85,353 8,282 14,940 20,463 12,711 33,915 8,478 4,477 11,798 14,280 33,677 CAPITAL ACCOUNTS Capital paid in 2,100 74 547 100 113 119 185 268 58 66 85 192 293 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 383 23 123 11 20 30 19 49 10 8 11 38 41 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 268,491 15,752 86,564 8,490 15,186 20,726 13,096 34,493 8,604 4,614 11,979 14,685 34,302 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 258,122 16,025 77,951 9,381 15,536 21,309 11,802 31,901 8,873 4,102 12,135 15,280 33,827 Less-Held by F.R. Banks 44,982 3,234 5,939 3,482 2,477 4,433 3,974 2,484 1,943 787 2,655 3,751 9,823 F.R. notes, net 213.140 1122,,779911 7722,,001122 55,,889999 1133,,005599 1166,,887766 77,,882288 2299,,441177 66,,993300 33,,331155 99,,448800 1111,,552299 24,004 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 197,059 Total collateral 213,140 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