H.4.1 Factors Affecting Reserve Balances of Depository Institutions

*o*Gov 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 Julv 7_ 1Q88 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 JJuullyy 66,, 11998888 June 29, 1988 July 8, 1987 July 6, 1988 Reserve Bank credit: 12 254,854 + 2,220 + 18,137 254,427 U.S. government securities- Bought outright—system account 223,256 - 1,239 + 12,943 223,748 Held under repurchase agreements ' 3,561 + 1,547 + 3,561 2,311 Federal agency obligations- Bought outright 7,268 — 415 7,268 Held under repurchase agreements 2,196 + 1,137 + 2,196 1,582 Acceptances- Bought outright — — — — Held under repurchase agreements — — — — Loans to depository institutions 3,434 + 1,153 + 2,716 3,080 Includes: seasonal borrowing of 357 — + 80 337 extended credit of 2,133 + 393 + 1,874 2,625 Float 315 - 204 - 2,077 1,666 Other F.R. assets 14,823 - 175 788 14,772 Gold stock 11,063 6 11,063 Special Drawing Rights certificate account 5,018 — 5,018 Treasury currency outstanding 18,481 - 11 + 619 18,489 Total factors supplying reserve funds 289,415 + 2,207 + 18,749 288,997 Currency in circulation* 236,183 + 2,916 + 19,322 237,279 Treasury cash holdings* 426 _ 23 67 418 Deposits, other than reserve balances, with F.R. Banks: Treasury 4,686 - 1,843 179 4,154 Foreign 316 + 81 + 73 339 Service-related balances and adjustments 3 1,941 + 130 175 1,656 Other 335 _. 28 12 313 Other F.R. liabilities and capital 7,077 - 433 -r 447 6,886 Total factors, other than reserve balances, absorbing reserve funds 250,964 + 801 + 19,409 251,045 Reserve balances with F.R. Banks« 38,452 + 1,407 657 37,951 0n July 6, 1988 marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 225,926 million, a decrease of $ 438 million for the week. 1 Net of $ 4,842 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4,842 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. Net of $ 4,467 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 4 467 million was with foreign official and international accounts. Includes $ 1,273 million securities loaned—fully secured U.S. government securities. Consists of required clearing balances of $ i,656 million and adjustments of $ 285 million to compensate for float. 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 July 6, 1988 June 29, 1988 July 8 , 1987 ASSETS Gold certificate account 11,063 — - 6 Special Drawing Rights certificate account 5,018 — — Coin 348 - 32 - 279 Loans 3,080 + 836 + 2,453 Acceptances- — — — Held under repurchase agreements Federal agency obligations- Bought outright 7,268 — - 415 Held under repurchase agreements1 1,582 - 971 + 1,582 U.S. government securities: Bought outright—Bills 106,771 + 738 - 838 Notes 87,484 — + 12,037 Bonds 29,493 — + 2,469 Total bought outright* 223,748 + 738 + 13,668 Held under repurchase agreements1 2,311 - 3,117 + 2,311 Total U.S. government securities 226,059 - J7TN + 15,979 Total loans and securities 237,989 - 2,514 + 19,599 items in process of collection (1,338) 10,495 + 4,340 + 3,191 Bank premises 727 + 2 + 44 Other assets 3 14,045 - 634 - 977 TOTAL ASSETS (1,338) 279,685 - 1,162 + 21,572 LIABILITIES Federal Reserve notes 219,557 + 2,821 + 18,779 Deposits: Depository institutions 39,607 - 375 + 1,282 U.S. Treasury—general account 4,154 - 4,062 - 1,988 Foreign—official accounts 339 + 136 + 95 Other 313 - 46 - 9 Total deposits 44,413 - 4,347 - 620 Deferred credit items (1,338) 8,829 + 3,196 + 2,988 Other liabilities and accrued dividends* 2,595 - 252 + 363 TOTAL LIABILITIES (1,338) 275,394 + 1,418 + 21,510 CAPITAL ACCOUNTS Capital paid in 2,113 + 3 + 151 Surplus 2,047 — + 174 Other capital accounts 131 - 259 - 263 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 $ -o- million was outstanding at the end of the latest statement week. Net of $ 4,467 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 1,273 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 $ 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, July 6, 1988 Acceptances and securities held under repurchase agreements are claaaified as maturing within 15 days in accordance with maximum maturity of the agreements. U.S. government securities Federal agency obi gations Loans Acceptances Holdings |Weekly changes Holdings |Weekly changes Within 15 days 2,896 — 12,454 - 3,863 1,649 - 1,134 16 days to 90 days 184 — 53,765 + 3,409 837 + 143 91 days to 1 year — — 63,925 - 2,367 1,778 - 30 Over 1 year to 5 years — — 53,972 + 442 3,254 + 50 Over 5 years to 10 years — — 15,435 — 1,143 — Over 10 years — 2266,,550088 — 118899 — --^^-- .. Total 3,080 222266,,005599 mmmm 2,379 88,,885500 971 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 July 6, 1988 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco 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 348 24 9 19 21 51 45 22 24 10 28 .31 64 Loans 3,080 26 — 54 1 5 21 40 144 94 63 2,615 17 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 1,582 — 1,582 — — — — — — — — U.S. government securities: Bought outright-Bills 106,771 6 ,480 36,489 3,027 6,168 8,290 4,979 12,962 3,142 1,521 4,016 5,988 13,709 Notes 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 Bonds 29,493 1^, 790 10,080 836 1,703 2,290 1,375 3,581 868 420 1,109 1,654 3,787 Total bought outright 2 223.748 13 .579 76,467 6,343 12,925 17,372 10,433 27,164 6,584 3,187 8,416 12,549 28,729 Held under repurchase agreements 1 2,311 — 2,311 — — — — — — — — — — Total U.S. government securities 226,059 "17 .579 78,778 6,343" 12,925 17,372 10,433 27,164 6,584 3,187 8,416 12,549 28,729 Total loans and securities 237,989 14 ,046 82,844 6,603 13,346 17,941 10,793 28,086 6,942 3,385 8,752 15,572 29,679 Items in process of collection 11,833 735 1,305 541 688 704 954 1,097 719 561 1,527 805 2,197 Bank premises 727 92 33 47 32 119 57 86 20 23 46 21 151 Other assets 3 14,045 505 3,465 445 636 729 795 4,076 328 278 446 817 1,525 Interdistrict settlement account -0- -»- 2 + 828 + 328 - 242 + 1,438 -»- 13 - 288 + 441 + 664 + 681 - 3,309 - 556 TOTAL ASSETS 281,023 ~le ,398 93,286 8,534 15,450 22,360 13,444 35,129 9,002 5,155 12,186 14,920 35,159 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 $ 4,467 million matched sale purchase transactions outstanding at the end of the latest statement week. Includes $1,273 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 July 6, 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 219,557 13,226 73,701 6,124 13,238 18,015 8,375 30,232 7,022 3,866 9,387 11,585 24,786 Deposits: Depository institutions 39,607 2,317 11,770 1,668 1,434 3,240 3,792 3,078 1,166 530 1,063 2,042 7,507 U.S. Treasury -general account 4,154 — 4,154 — ', — — — — — — — — — Foreign—official accounts 339 5 229 7 8 9 13 19 4 5 6 13 21 Other 313 — 181 1 1 25 1 96 — — 2 3 3 Total deposits 44,413 2,322 16,334 1,676 1,443 3,274 3,806 3,193 1,170 535 1,071 2,058 7,531 Deferred credit items 10.167 540 1,158 462 397 631 771 851 621 584 1,466 751 1,935 Other liabilities and accrued dividends 1 2,595 152 947 72 144 192 118 316 72 39 91 137 315 TOTAL LIABILITIES 276,732" 16,240 92,140 8,334 15,222 22,112 13,070 34,592 8,885 5,024 12,015 14,531 34,567 CAPITAL ACCOUNTS Capital paid in 2,113 74 551 101 113 120 186 268 58 66 85 198 293 Surplus 2,047 68 541 97 113 114 181 . 261 58 63 85 175 291 Other capital accounts 131 16 54 2 2 14 7 8 J 2 1 16 8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 281,023 16,398 93,286 8,534 15,450 22,360 13,444 35,129 9,002 5,155 12,186 14,920 35,159 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 260,036 16,141 78,181 9,411 15,215 21,846 11,945 32,734 8,868 4,580 11,918 15,081 34,116 Less-Held by F.R. Banks 40,479 2,915 44,,448800 33,,228877 11,,997777 33,,883311 33..557700 22,,550022 11,,884466 771144 22,,553311 33,,449966 9,330 F.R. notes, net 219.557 13,226 7733,,770011 66,,112244 1133//223388 1188,,001155 88,,337755 3300,,223322 77,,002222 33,,886666 99,,338877 1111,,558855 24,786 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 203,476 Total collateral 219,557 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