H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE These data are scheduled for release each Thursday. The exact time of each release will be announced, when IRES 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 9, 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 8, 1988 June 1, 1938 June 10. 1987! June 8, 1988 Reserve Bank credit: '•2 251,036 + 3,282 + 19,364 251,056 U.S. government securities- Bought outright—system account 224,968 + 2,453 + 17,079 225,293 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 3,278 51 + 2,659 3,318 Includes: seasonal borrowing of 289 + 13 + 71 273 extended credit of 2,883 + 330 + 2,628 2,951 Float 863 + 380 + 370 768 Other F.R. assets 14,659 + 501 329 14,409 Gold stock 11,063 7 11,063 Special Drawing Rights certificate account 5,018 5,018 Treasury currency outstanding 18,462 10 641 18,471 Total factors supplying reserve funds 285,579 + 3,292 + 19,998 285,608 Currency in circulation* 233,567 + 1,442 + 19,092 233,827 Treasury cash holdings* 458 7 56 459 Deposits, other than reserve balances, with F.R. Banks: Treasury 2,682 528 1,030 3,170 Foreign 215 72 8 198 Service-related balances and adjustments3 2,016 + 53 87 1,653 Other 312 171 52 302 Other F.R. liabilities and capital 7,101 94 + 488 7,042 Total factors, other than reserve balances, absorbing reserve funds 246,352 624 + 18,348 246,651 Reserve balances with F.R. Banks * 39,227 2,668 1,650 38,958 On June 8, 1988 , marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 228,359 million, a decrease of $ 2,707 million for the week. 1 Net of $ 3,026 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 3,026 million was with foreign official and international accounts. Includes securities loaned—fuliy secured by U.S. government securities. 2 Net of $ 2,700 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 2,700 million was with foreign official and international accounts. Includes $ 147 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,653 million and adjustments of $ 363 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 SANKS Millions of dollars Change since ** WWeeddnneessddaayy Wednesday Wednesday June 8, 1988 June 1, 1988 June 10 , 1987 ASSETS | .^_. Gold certificate account ! 11,063 — - 6 Special Drawing Rights certificate account 5,018 — — Coin 379 - 14 - 84 Loans 3,318 + 297 + 2,736 Acceptances- Held under repurchase agreements — — - — Federal agency obligations— Bought outright 7,268 — - 415 Held under repurchase agreements1 U.S. government securities: Bought outright—Bills 108,316 + 2,462 + 1,559 Notes 87,484 — + 14,181 Bonds 11 2299,,449933 — ++ 2,742 Total bought outright 2 222255,,229933 ++ 2,462 ++ 18,482 Held under repurchase agreements1 — — — Total U.S. government securities 225,293 ++ 2,462 ++ 18,482 Total loans and securities 235,879 + 2,759 + 20,803 Items in process of collection (1,010) 6,910 - 3,744 + 701 BanK premises ! 727 + 3 + 48 Other assets 3 13,682 + 221 .. 702 TOTAL ASSETS (1,010) 7^3,658 - 775 + 20,760 LIABILITIES 216,193 + 544 + 18,138 Federal Reserve notes Deposits: 40,611 + 1,817 + 1„462 Depository institutions 3,170 232 + 359 U.S. Treasury—general account 198 104 36 Foreign—official accounts 302 125 76 Other 44,281 + 1,356 + 1,709 Totai deposits + Deferred credit items j (1.010) 6,142 2,807 385 Other liabilities and accrued dividends4 2,499 "• 10 + 197 TOTAL LIABILITIES (1,010) 269,115 - 917 + 20,429 CAPITAL ACCOUNTS Capital paid in i 2,104 + 2 + 151 Surplus 2,047 **"" + 174 Other capital accounts j 392 + 140 + 6 Figures in parentheses are the eliminations made In the consolidating process. Does not include U.S. government and federal agency securities reaold under matched sale-purchase transactions to foreign official and international accounts of which $ -0- million was outstanding at the end of the latest atatement week. Net of $ 2,700 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 147 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 S 86 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, June 8, 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 aecurities Federal agency obligations Loans Acceptances Holdings [Weekly changes! Holdings [Weekly changes Within 15 days 3,164 12,798 + 1,497 25 16 days to 90 days 154 53,830 + 4,888 867 206 91 days to 1 year 63,192 3,923 1,822 206 Over 1 year to 5 years 53,530 '3,230 Over 5 years to 10 years 15,435 1,135 Over 10 years 26,508 189 Total 3,318 225,293 2,462 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 June 8, 1988 Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San City Francisco ASSETS 11,063 680 3,313 389 655 917 584 1,394 368 168 490 676 1,429 Gold certificate account Special Drawing Rights certif. acct. «5,018 314 1,489 162 314 461 203 656 160 66 216 307 670 379 35 12 20 23 52 43 29 23 13 30 29 70 Loans 3,318 33 — — 5 60 5 33 112 67 50 2,938 15 Acceptances held under repurchase agreements Federal agency obligations: 7,268 441 2,484 206 420 564 339 882 214 104 273 408 933 Bought outright Held under repurchase agreements 1 — — — — — — — — — — — — — U.S. government securities: Bought outright-Bills 108,316 6,574 37,017 3,071 6,257 8,410 5,051 13,150 3,187 1,543 4,074 6,074 13,908 87,484 5,309 29,898 2,480 5,054 6,792 4,079 10,621 2,574 1,246 3,291 4,907 11,233 29,493 1,790 10,080 836 1,704 2,290 1,375 3,580 868 420 1,109 1,654 3,787 Total bought outright 2 225,293 13,673 76,995 6,387 13,015 17,492 10,505 27,351 6,629 3,209 8,474 12,635 28,928 — — — — — — — -- — — — — — 225,293 13,673 76,995 6,387 13,015 17,492 10,505 27,351 6,629 3,209 8,474 12,635 28,928 Total loans and securities 235,879' 14,147 79,479 6,593 13,440 18,116 10,849 28,266 6,955 3,380 8,797 15,981 29,876 IItteemmss iinn pprroocceessss ooff ccoolllleeccttiioonn 7,920 443 943 391 304 569 700 995 432 395 1,038 562 1,148 BBaannkk pprreemmiisseess 727 92 33 47 32 118 57 85 20 23 47 21 152 OOtthheerr aasssseettss 33 13,682 482 3,237 439 616 698 787 4,080 314 275 436 832 1,486 -0- - 165 + 836 + 485 - 204 + 772 '+ 552 - 1,666 + 298 + 702 + 954 - 3,644 + 1,080 TOTAL ASSETS 274,668 16,028 89,342 8,526 15,180 21,703 13,775 33,839 8,570 5,022 12,008 14,764 35,911 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 $ 2,700 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 147 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 $ 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 8, 1988 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco LIABILITIES i Federal Reserve notes 216,193 12,958 72,411 6,064 13,190 17,606 8,217 29,463 6,977 3,833 9,488 11,530 24,456 Deposits: Depository institutions 40,611 2,365 10,618 1,879 1,308 3,113 4,382 2,845 987 620 1,212 2,110 9,172 U.S. Treasury—general account 3,170 — 3,170 — — — — — — — — — — Foreign—official accounts 198 5 88 7 8 9 13 19 4 5 6 13 21 Other 302 1 169 — 1 30 1 92 — — 2 2 4 Total deposits 44,281 2,371 14,045 1,886 1,317 3,152 4,396 2,956 991 625 1,220 2,125 9,197 " Deferred credit items 7,152 380 834 294 284 488 655 528 403 389 1,023 562 1,312 Other liabilities and accrued dividends 1 2,499 152 841 73 143 191 121 314 74 40 95 139 316 TOTAL LIABILITIES 270,125 15,861 88,131 8,317 14,934 21,437 13,389 33,261 8,445 4,887 11,826 14,356 35,281 CAPITAL ACCOUNTS Capital paid in 2,104 74 548 100 113 120 186 268 58 66 85 193 293 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 392 25 122 12 20 32 19 49 9 6 12 40 46 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 274,668 16,028 89,342 8,526 15,180 21,703 13,775 33,839 8,570 5,022 12,008 14,764 35,911 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 258,811 16,112 77,412 9,506 15,324 21,855 11,950 31,936 8,925 4,529 12,057 15,209 33,996 Less-Held by F.R. Banks 42,618 3,154 5,001 3,442 2,134 4,249 3,733 2,473 1,948 696 2,569 3,679 9,540 F.R. notes, net 216,193 12,958 72,411 6,064 13,190 17,606 8,217 29,463 6,977 3,833 9,488 11,530 24,456 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 200,112 Total collateral 216,193 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