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 f^rffsf:.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 July 21, 1988 I 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 2200,, 11998888 July 13, 1988~ ' July 22, 1987 July 20, 1988 Reserve Bank credit: 12 252,658 3,428 + 19,722 250,990 U.S. government securities- Bought outright—system account 224,440 - 1,442 + 15,937 223,988 Held under repurchase agreements 814 - 1,290 + 814 — Federal agency obligations- Bought outright 7,258 - 10 - 399 7,201 Held under repurchase agreements , 922 - 139 + 922 — Acceptances- Bought outright ~~ — — — Held under repurchase agreements — — — — Loans to depository institutions 3,138 - 740 + 2,631 3,123 Includes: seasonal borrowing of 376 + 30 + 84 393 extended credit of 2,638 + 92 + 2,498 | 2,671 Float 823 - 116 + 204 1 1,102 Other F.R. assets 15,263 + 310 - 386 15,576 Gold stock 11,063 — - 6 1 11,063 Special Drawing Rights certificate account 5,018 — — ! 5,018 Treasury currency outstanding 18,505 -1- 14 _+ 624 18,517 Total factors supplying reserve funds 287,244 - 3,414 + 20,339 285,588 Currency in circulation* 236,023 _ 1,209 + 19,860 ] 235,599 Treasury cash holdings* 419 ~ 2 - 67 419 Deposits, other than reserve balances, with F.R. Banks: Treasury 3,209 - 939 - 2,107 3,606 Foreign 244 + IB - 5 1 266 Service-related balances and adjustments 3 1,798 - 26 - 620 ! 1,638 Other 350 i + 57 + 16 323 Other F.R. liabilities and capital 7,446 + 116 + 722 7,226 Total factors, other than reserve balances, absorbing reserve funds 249,489 - 1,985 + 17,799 249,077 Reserve balances with F.R. Banks 4 37,755 1 - 1,428 j -t- z,541 j 36,511 On July 20, 1988 , marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 224,445 million, a decrease of $ 1*500 million for the week. 1 Net of $ 4,023 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4,023 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 4,521 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 4,521 million was with foreign official and international accounts. Includes $ 1,205 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ l . ^38 million and adjustments of $ 160 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 BANKS Millions of dollars mmmmmm' Change since •• WWeeddnneessddaayy Wednesday Wednesday July 20, 1988 July 13, 1988 July 22, 1987 ASSETS Gold certificate account 11,063 — - 6 Special Drawing Rights certificate account 5,018 — — Coin 361 + 11 - 284 Loans 3,123 - 6,311 + 2,626 Acceptances- Held under repurchase agreements — — — Federal agency obligations- Bought outright 7,201 - 67 422 Held under repurchase agreements1 — - 625 — U.S. government securities: Bought outright—Bills 107,011 - 2,226 + 127 Notes 87,484 — + 12,162 Bonds 29,493 — + 2,469 Total bought outright* 223,988 _ 2,226 + 14,758 Held under repurchase agreements ^ — - 1,044 Total U.S. government securities 223,988 _ 3,270 + 14,758 Total loans and securities 234,312 _ 10,273 + 16,962 Cash items in process of collection (1 ,141) 7,239 + 262 + 990 Bank premises 728 __ 1 + 41 Other assets3 14,848 + 355 334 TOTAL ASSETS (1 .141) 273,569 9,646 + 17,369 LIABILITIES Federal Reserve notes 217,862 _ 1,386 + 18,779 Deposits: Depository institutions 38,149 — 7,912 _ 219 U.S. Treasury—general account 3,606 _ 500 _ 2,43? Foreign—official accounts 266 + 61 _ 17 Other 323 + 38 -1- 37 Total deposits 42,344 _ 8,313 _ 2,631 Deferred availability cash items (1 .141) 6,137 + 136 + 534 Other liabilities and accrued dividends4 2,650 97 + 362 TOTAL LIABILITIES (1 .141) 268,993 - 9,660 •f 17,044 CAPITAL ACCOUNTS Capital paid in 2,117 + 148 Surplus 2,047 + 174 Other capital accounts 412 + 14 + 3 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 end of the latest statement week. Net of $ 4,521 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 1,205 million securities loaned—fully secured by U.S. government securities. Inciuaes assets denominated in foreign currencies, revalued monthly at market exchange rates. Includes special investment account at Chicago of $ 63 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 20, 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 3,050 10,247 + 697 165 568 16 days to 90 days 73 — 51,240 _ 3,778 678 _ 124 91 days to 1 year — — 66,785 __ 1,847 + 45 Over 1 year to 5 years — 53,722 _ 250 3,179 45 Over 5 years to 10 years — — 15,486 + 51 1,143 Over 10 years — --ff55 2266,,550088 118899 __ Total 3,123 222233,,998888 3,280 77,,220011 692" 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 20, 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 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 361 20 12 19 23 54 46 24 26 9 29 34 65 Loans 3,123 11 2 6 8 16 30 169 111 85 2,664 21 Acceptances held under repurchase agreements Federal agency obligations: Bought outright 7,201 437 2,461 204 416 559 336 874 212 102 271 404 925 Held under repurchase agreements 1 U.S. government securities: Bought outright-Bills 107,011 6,495 36,572 3,034 6,181 8,308 4,990 12,991 3,149 1,524 4,025 6,002 13,740 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 2 223,988 13,594 76,549 6,350 12,939 17,391 10,444 27,193 6,591 3,190 8,425 12,562 28,760 HHeelldd uunnddeerr rreeppuurrcchhaassee aaggrreeeemmeennttss 11 ,, — — — — — — — — — — — — — TToottaall UU..SS.. ggoovveerrnnmmeenntt sseeccuurriittiieess 223,988 13,594 76,549 6,350 12,939 17,391 10,444 27,193 6,591 3,190 8,425 12,562 28,760 Total loans and securities 234,312 14,042 79,010 6,556 13,361 17,958 10,796 28,097 6,972 3,403 8,781 15,630 29,706 Items in process of collection 8,380 438 1,094 495 295 508 696 726 376 376 1,138 609 1,629 Bank premises 728 92 32 47 32 119 57 88 20 23 46 21 151 Other assets 3 14,848 545 3,683 490 697 808 879 4,017 348 310 488 900 1,683 -0- + 34 -t- 2,207 + 51 - 213 + 900 - 330 + 452 + 182 + 559 + 537 - 3,338 - 1,041 TOTAL ASSETS 274,710 16,165 90,840 8,209 15,164 21,725 12,931 35,454 8,452 4,914 11,725 14,839 34,292 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 $ _rj_ million was outstanding at the end of the latest statement week. 2 Net of $ 4,521 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ l,205million 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 $ 63 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 20, 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 217,862 13,460 73,964 5,916 12,977 17,669 7,671 30,585 6,861 3,807 9,264 11,426 24,262 Deposits: Depository institutions 38,149 2,009 9,930 1,645 1,403 3,108 4,072 3,293 1,024 518 1,128 2,323 7,696 U.S. Treasury—general account 3,606 — 3,606 — — — — — — — — — — Foreign-official accounts 266 5 156 7 8 9 13 19 4 5 6 13 21 Other 323 1 119955 11 2 40 1 72 3 — 3 2 3 Total deposits 42,344 2,015 1133,,888877 11,,665533 1,413 3,157 4,086 3,384 1,031 523 1,137 2,338 7,720 Deferred credit items 7,278 359 875 352 375 429 660 575 359 392 1,045 511 1,346 Other liabilities and accrued dividends 1 2,650 163 891 76 115533 220022 112266 333311 7755 5555 99 146 333 TOTAL LIABILITIES " 270,134 15,997 89,617 7,99V 1144,,991188 2211,,445577 1122,,554433 3344,,887755 88,,332266 44,,777777 11,545 14,421 33,661 CAPITAL ACCOUNTS Capital paid in 2,117 75 552 101 113 121 186 268 58 66 85 198 294 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 412 25 130 14 20 33 21 50 10 8 10 45 46 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 274,710 16,165 90,840 8,209 15,164 21,725 12,931 35,454 8,452 4,914 11,725 14,839 34,292 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 261,263 16,562 78,514 9,411 15,265 22,040 11,806 33,279 8,793 4,671 11,866 14,924 34,132 Less-Held by F.R. Banks 43,401 3,102 4,550 3,495 2,288 4,371 4,135 2,694 1,932 864 2,602 3,498 9,870 F.R. notes, net 217,862 13,460 73,964 5,916 12,977 17,669 7,671 30,585 6,861 3,807 9,264 11,426 24,262 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 201,781 Total collateral 217,862 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