H.4.1 Factors Affecting Reserve Balances of Depository Institutions

ijg=§^;\ FEDERAL RESERVE These data are scheduled for release each Thursday. The exact time of each release will be announced, when •T«f^ 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 M*y 9fi, IQftft 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 25, 1988 May 18, 1988 May 27. 1937 May 25, 1988 Reserve Bank credit: 12 224,412 - 6,864 6,933 240,806 U.S. government securities- Bought outright—system account 219,342 - 3,781 12,928 215,217 Held under repurchase agreements - 2,127 4,389 Federal agency obligations- Bought outright 7,268 415 7,268 Held under repurchase agreements 508 1,763 Acceptances— Bought outright Held under repurchase agreements Loans to depository institutions 2,911 + 641 + 1,484 2,834 Includes: seasonal borrowing of 261 + 18 + 43 264 extended credit of 2,523 + 659 + 2,216 2,454 Float 759 8 + 85 709 Other F.R. assets 14,132 1,081 997 14,778 Gold stock 11,063 9 11,063 Special Drawing Rights certificate account 5,018 5,018 Treasury currency outstanding 18,439 14 638 18,451 Total factors supplying reserve funds 278,932 6,850 + 7,562 275,338 Currency in circulation* 230,479 90 + 17,599 231,090 Treasury cash holdings* 470 9 50 467 Deposits, other than reserve balances, with F.R. Banks: Treasury 3,176 2,820 - 9,508 4,382 Foreign 254 10 4 227 Service-related balances and adjustments 3 1,979 82 + 24 1,659 Other 339 17 23 565 Other F.R. liabilities and capital 7,302 141 + 454 7,206 Total factors, other than reserve balances, absorbing reserve funds 243,997 - 2,953 8,490 245,596 Reserve balances with F.R. Banks * 34,935 - 3,897 928 29,742 On May 25, 1988 marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official f and international accounts were $ 230,348 million, a decrease of $ 1,275 million for the week. 1 Net of $ 8,652 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4,863 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 12,776 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 4,811 million was with foreign official and international accounts. Includes $ 504 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ i ,659 million and adjustments of $ 320 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 SANK* Millions of dollars Change since ** wwvvuunneeeeooaayy Wednesday | Wednesday May 25, 1988 May 18 , 1988 May 27, 1987 ASSETS I Gold certificate account 11,063 — - 9 Special Drawing Rights certificate account 5,018 — — Coin 424 - 17 - 60 Loans 2,834 - 71 + 2,037 Acceptances- Held under repurchase agreements — — — Federal agency obligations- Sought outright 7,268 — - 415 Held under repurchase agreements 1 — — - 1,426 U.S. government securities: Sought outright—Bills 98,240 - 3,761 - 7,559 Notes 87,484 — + 14,181 Bonds 2299,,449933 — ++ 2,742 Total bought outright2 22TT33,,22llTT 3,761 ++ 9,364 Held under repurchase agreements 1 — — 8,901 Total U.S. government securities 215,217 ««.. 3775T ++ ' 463 Total loans and securities 225,319 - 3,832 + 659 Items in process of collection (1,058) 6,701 - 520 - 2,678 Bank premises 721 - 2 + 43 Other assets 3 14,057 + 344 - 735 TOTAL ASSETS (1,058) 263,303 - 4,027 - 2,780 LIABILITIES Federal Reserve notes 213,530 + 390 + 16,648 Deposits: Depository institutions 31,401 - 6,461 - 11,556 U.S. Treasury—general account 4,382 + 1,772 - 6,450 Foreign—official accounts 227 - 33 - 128 Other 565 + 245 + 119 Total deposits 36,575 - 4,477 - 18,015 Deferred credit items (1,058] ) 5,992 - 26 - 1,830 Other liabilities and accrued dividends4 2,669 + 79 + 81 TOTAL LIABILITIES (1,058' ) 258,766 - 4,034 - 3,116 CAPITAL ACCOUNTS Capital paid in 2,102 + 2 + 152 Surplus 2,047 — + 174 Other capital accounts 388 + 5 + 10 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 •nd of the latest statement week. Net of $ 12,776million matched sale-purchase transactions outstanding at the 9r\d of the latest statement week. Includes $ 504 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 $ 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, Wednesday, May 25, 1988 Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in acoordance with maximum maturity of the agreements. U.S. government securities Federal agency obligations Loans Acceptances Holdings [Weekly changes! Holdings [Weekly changes Within 15 days 2,788 7,304 1,499 268 16 days to 90 days 46 45,986 5,110 576 91 days to 1 year 66,250 150 1,818 36 Over 1 year to 5 years 53,734 3,282 10 Over 5 years to 10 years 15,435 1,135 26 Over 10 years 26,508 189 Total 2,834 215,217 3,761 7,268 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 25, 1988 Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San City Francisco ASSETS Gold certificate account 11,063 660 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 424 40 16 22 27 59 45 37 26 15 32 30 75 Loans 2,834 52 8 13 3 16 16 43 111 50 60 2,441 21 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 98,240 5 ,962 33,574 2,785 5 ,675 7,628 4,581 11,926 2,891 1,399 3,695 5,510 12,614 Notes 87,484 5 ,310 29,898 2,480 5 ,054 6,792 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 2 215,217 13 ,062 73,551 6,101 12 ,433 16,710 10,035 26,128 6,333 3,065 8,095 12,070 27,634 Held under repurchase agreements 1 — — — — — — — — — — — — — Total U.S. government securities 215,217 13 ,062 73,551 6,101 12 ,433 16,710 10,035 26,128 6,333 3,065 8,095 12,070 27,634 Total loans and securities 225,319 13 .555 76,043 6,320 12 ,856 17,290 10,390 27,053 6,658 3,219 8,428 14,919 28,588 Items in process of collection 7,759 387 837 373 268 584 851 621 428 364 1,017 866 1,163 Bank premises 721 92 33 47 32 116 57 83 20 23 46 20 152 Other assets 3 14,057 466 3,178 435 609 696 786 4,062 310 273 425 795 2.022 Interdistrict settlement account \ -0- -50 -477 +510 +61 +597 -121 -225 +494 +395 +1,103 -2,113 -174 TOTAL ASSETS 264,361 15 ,484 84,432 8,258 14 ,822 20,720 12,795 33,681 8,464 4,523 11,757 15.500 33.925 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 $ 12,776 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 504 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 25, 1988 Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San City Francisco LIABILITIES Federal Reserve notes 213,530 12,693 71,743 5,972 12,962 17,299 8,170 29,054 6,903 3,508 9,453 11.472 24.301 Deposits : Depository institutions 31,401 2,131 4,893 1,675 1,175 2,525 3,424 3,061 954 494 1,042 2,492 7,535 U.S. Treasury—general account 4,382 4.382 Foreign—official accounts 227 5 117 7 8 9 13 19 4 5 6 13 21 Other 565 399 1 1 21 1 136 2 2 2 Total deposits 36,575 2,136 9,791 1,683 1,184 2,555 3,438 3,216 958 499 1,050 2,507 7,558 Deferred credit items 7,050 335 831 321 285 411 680 517 404 340 980 830 1,116 Other liabilities and accrued dividends1 2,669 152 855 73 145 191 122 316 74 39 95 286 321 TOTAL LIABILITIES 259,824 15,316 83,220 8,049 14,576 20,456 12,410 33,103 8,339 4,386 11,578 15,095 33,296 CAPITAL ACCOUNTS Capital paid in 2,102 74 548 100 113 120 185 268 58 66 85 192 293 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 388 26 123 12 20 30 19 49 9 8 9 38 45 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 264,361 15,484 84,432 8,258 14,822 20,720 12,795 33,681 8,464 4,523 11.757 15,500 33,925 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 258,648 16,008 77,401 9,546 15,391 21,762 12,200 31,642 8,932 4.279 12,071 15,299 34,117 Less-Held by F.R. Banks 45,118 3,315 5,658 3,574 2,429 4,463 • 4,030 2,588 2,029 771 2,618 3,827 9,816 F.R. notes, net 213,530 1122,,669933 7711,,774433 55,,997722 1122,,996622 1177,,229999 88,,117700 2299,,005544 66,,990033 33,,550088 99..445533 1111,,447722 24,301 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 197,449 Total collateral 213,530 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