H.4.1 Factors Affecting Reserve Balances of Depository Institutions

;*te& 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 June 2, 1988 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 June 1, 1988 May 25, 1988 June 3, 1987 June 1, 1988 Reserve Bank credit: 12 247,803 + 3,391 + 16,776 249,010 U.S. government securities- Bought outright—system account 222,515 + 3,173 + 15,886 222,831 Held under repurchase agreements Federal agency obligations- Bought outright 7,268 415 7,268 Held under repurchase agreements Acceptances- Bought outright Held under repurchase agreements Loans to depository institutions 3,329 + 418 2,569 ,021 Includes: seasonal borrowing of 276 + 15 43" 291 extended credit of 2,553 + 30 2,266 2 ,616 Float 518 241 410 1 ,705 Other F.R. assets 14,172 40 854 14 ,185 Gold stock 11,063 7 11,063 Special Drawing Rights certificate account 5,018 5,018 Treasury currency outstanding 18,452 13 641 18,461 Total factors supplying reserve funds 282,336 + 3,404 17,410 283,552 Currency in circulation* 232,125 + 1,646 18,366 233,259 Treasury cash holdings* 465 5 48 458 Deposits, other than reserve balances, with F.R. Banks: Treasury 3,210 + 34 1,857 3,402 Foreign Service-related balances and adjustments 3 287 + 33 5 302 1,963 17 243 1,660 Other 483 144 98 427 Other F.R. liabilities and capital 7,195 107 688 6,910 Total factors, other than reserve balances, absorbing reserve funds 245,728 + 1,730 + 17,009 246,418 Reserve balances with F.R. Banks 4 36,608 + 1,674 401 37,134 0n June 1, 1988 » marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 231,066 million, an increase of $ 718 million for the week. 1 Net of $ 5,478 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 5,137 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 5,163 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 5,163 million was with foreign official and international accounts. Includes $ 1,600 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,660 million and adjustments of $ 303 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 June 1, 1988 May 25, 1988 June 3, 1987 ASSETS Gold certificate account 11,063 — - 7 Special Drawing Rights certificate account 5,018 — — Coin ! 393 - 31 - 73 Loans 3,021 + 187 + 2,368 Acceptances- — — — Held under repurchase agreements Federal agency obligations- Bought outright 7,268 — 415 Held under repurchase agreements1 — — — U.S. government securities: Bought outright—Bills 105,854 + 7,614 + 1,678 Notes 87,484 — + 14,181 Bonds 2299,,449933 — ++ 22,,774422 Total bought outright^ 222222,,883311 ++ 7,614 ++ 1188,,660011 Held under repurchase agreements1 — — — Total U.S. government securities 222,831 ++ 7,614 ++ 18,601 Total loans and securities 233,120 + 7,801 + 20,554 Items in process of collection (1,481) 10,654 + 3,953 + 2,412 Bank premises 724 + 3 + 45 Other assets 3 13,461 - 596 " - 1,181 TOTAL ASSETS (1,481) 274,433 + 11,130 + 21,750 LIABILITIES Federal Reserve notes 215,649 + 2,119 + 18,301 Deposits: Depository institutions 38,794 + 7,393 + 1,392 U.S. Treasury—general account 3,402 - 980 - 957 Foreign—official accounts 302 + 75 + 6 Other 427 - 138 + 52 Total deposits 42,925 + 6,350 + 493 Deferred credit items (1,481) 8,949 + 2,957 + 2,331 Other liabilities and accrued dividends4 2,509 _ 160 + 281 TOTAL LIABILITIES (1,481) 270,032 + 11,266 + 21,406 CAPITAL ACCOUNTS Capital paid in 2,102 — + 150 Surplus 2,047 — + 174 Other capital accounts 252 - 136 + 20 Figures in parentheses are the eliminations made in the consolidating process. Does not include U.S. government and federal agency securities resold under matched sals-purchase transactions to foreign official and international accounts of which $ -o- million was outstanding at the end of the latest statement week. Net of $5,163 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ l ,600 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 $ 86million 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, June 1, 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 LLooaannss AAcccceeppttaanncceess Holdings |Weekly changes Holdings [Weekly changes Within 15 days 2,855 — 11,301 + 3,997 25 243 16 days to 90 days 166 — 48,942 + 2,956 661 + 85 91 days to 1 year — — 67,115 + 865 2,028 + 210 Over 1 year to 5 years — — 53,530 - 204 3,230 52 Over 5 years to 10 years — — 15,435 — 1,135 — Over 10 years — 5555 2266,,550088 — 118899 — Total 3,021 222222,,883311 ++ 7,614 77,,226688 — 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 June 1, 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 393 37 13 21 25 53 41 33 24 13 31 30 72 Loans 3,021 42 20 16 4 14 8 55 112 61 66 2,603 20 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 105,854 6,424 36,176 3,001 6,114 8,218 4,936 12,851 3,115 1,508 3,982 5,937 13,592 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 2 222,831 13,524 76,153 6,317 12,872 17,300 10,390 27,053 6,557 3,174 8,382 12,497 28,612 Held under repurchase agreements 1 Total U.S. government securities 222,831 13,524 76,153 6,317 12,872 17,300 10,390 27,053 6,557 3,174 8,382 12,497 28,612 Total loans and securities 233,120 14,007 78,657 6,539 13,296 17,878 10,737 27,990 6,883 3,339 8,721 15,508 29,565 Items in process of collection 12,135 654 1,322 595 497 895 1,159 1,230 696 548 1,541 949 2,049 Bank premises 724 92 33 47 32 118 58 83 20 23 46 20 152 Other assets 3 13,461 468 3,162 446 606 681 777 4,041 310 285 430 798 1,457 Interdistrict settlement account -0- + 271 + 121 + 195 - 232 + 988 + 968 - 560 + 371 + 344 + 980 - 3,212 - 234 TOTAL ASSETS 275,914 16,523 88,110 8,394 15,193 21,991 14,527 34,867 8,832 4,786 12,455 15,076 35,160 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 $ 5,163 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 1»600mj||jOn 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 $ 86 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 June 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 215,649 12,926 72,141 6,082 13,120 17,597 8,283 29,305 6,981 3,549 9,528 11,534 24,603 Deposits: Depository institutions 38,794 2,742 8,945 1,582 1,228 3,272 4,777 3,650 1,028 508 1,140 2,237 7,685 U.S. Treasury-general account 3,402 — 3,402 — — — — — — — — — — Foreign—official accounts 302 5 192 7 8 9 13 19 4 5 6 13 21 Other 427 1 253 1 1 33 2 126 __ „ 3 3 4 Total deposits 42,925 2,748 12,792 1,590 1,237 3,314 4,792 3,795 1,032 513 1,149 2,253 7,710 Deferred credit items 10,430 536 1,161 447 449 632 959 894 624 551 1,505 755 1,917 Other liabilities and accrued dividends 1 2,509 151 843 73 150 191 119 313 73 40 96 140 320 TOTAL LIABILITIES 271,513 16,361 86,937 8,192 14,956 21,734 14,153 34,307 8,710 4,653 12,278 14,682 34,550 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 252 20 84 5 11 23 8 31 6 4 7 27 26 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 275,914 16,523 88,110 8,394 15,193 21,991 14,527 34,867 8,832 4,786 12,455 15,076 35,160 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 258,657 16,082 77,420 9,522 15,376 21,809 12,091 31,820 8,917 4,276 12,052 15,252 34,040 Less-Held by F.R. Banks 43,008 3,156 5,279 3,440 2,256 4,212 3,808 2,515 1,936 727 2,524 3,718 9,437 F.R. notes, net 215,649 12,926 72,141 6,082 13,120 17,597 8,283 29,305 6,981 3,549 9,528 11,534 24,603 Collateral held against F.R. notes: Gold certificate account 11,063 Special Drawing Rights certif. ace 5,018 Other eligible assets — U.S. govt, and agency securities 199,568 Total collateral 215,649 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