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 ••!WLR£S£V 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 28, 1988 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 1 Wednesday JJuullyy 2277.. 11998888 jjuly 20, 1988 1 July 29, 1987 July 27, 1988 Reserve Bank credit: L 2 251,467 1,191 1 "*"21 ,136 248,719 U.S. government securities- Bought outright—system account 223,390 - 1,050 + 17,938 220,727 Held under repurchase agreements 818 + 4 + 818 — Federal agency obligations- Bought outright 7,201 - 57 - 422 7,201 Held under repurchase agreements 118 - 804 + 118 — Acceptances- Bought outright — — — — Held under repurchase agreements — — — — Loans to depository institutions 3,398 + 260 + 2,602 3,415 Includes: seasonal borrowing of 403 + 27 + 108 406 extended credit of 2,688 + 50 + 2,563 2,826 Float 864 + 41 + 337 1,616 Other F.R. assets 15,678 + 415 - 255 15,760 Gold stock 11,063 — _ 6 11,062 Special Drawing Rights certificate account 5,018 — — 5,018 Treasury currency outstanding I 18,519 + 14 + 628 18,531 Total factors supplying reserve funds j 286,067 - 1,177 + 21,758 283,330 Currency in circulation* 234,880 _ 1,145 + 19,457 234,979 Treasury cash holdings* 406 _ 11 _ 73 397 Deposits, other than reserve balances, with F.R. Banks: Tr ,asury 3,594 + 385 i _ 278 3,490 Foreign 315 + 71 + 61 343 Service-related balances and adjustments 3 1,935 + 138 _ 125 1,641 Other 357 + 7 + 32 322 Other F.R. liabilities and capital 7,392 - 54 + 793 7,157 Total factors, other than reserve balances, f absorbing reserve funds 248,878 - 610 + 19,866 248,329 Reserve balances with F.R. Banks A 37,188 - 568 + 1,891 35,001 On jiy 27, 1988 , marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official u and international accounts were $ 224,329 million, decrease of $ 116 million for the week. 1 Net of $ 5,120 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4,740 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 7,782 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 5,127 million was with foreign official and international accounts. Includes $ 522 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,641 million and adjustments of $ 294 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 Change since •• WWeeddnneessddaayy Wednesday Wednesday July 27, 1988 July 20, 1988 July 29 , 1987 ASSETS Gold certificate account 11,062 - 1 - 7 Special Drawing Rights certificate account 5,018 — — Coin 374 4 13 - 272 Loans 3,415 + 292 + 1,802 Acceptances- Held under repurchase agreements __ __ Federal agency obligations— Bought outright 7,201 «. 422 Held under repurchase agreements1 U.S. government securities: Bought outright—Bills 103,750 3,261 - 200 Notes 87,484 — + 12,162 Bonds 2299,,449933 — ++ 2,469 __ Total bought outright* 222200,,772277 3,261 ++ 14,431 Held under repurchase agreements 1 — — — Total U.S. government securities 220,727 __ 3,261 ++ 14,431 Total loans and securities 231,343 - 2,969 + 15,811 Cash items in process of collection (1,192) 7,239 — + 1,697 Bank premises 729 + 1 + 44 Other assets 3 15,031 + 183 - 421 TOTAL ASSETS (1,192) 270,796 - 2,773 + 16,852 LIABILITIES Federal Reserve notes 217,219 _ 643 + 18,321 Deposits: Depository institutions 36,642 _ 1,507 _ 1,308 U.S. Treasury—general account 3,490 _ 116 _ 1,221 Foreign—official accounts 343 + 77 + 99 Other 322 1 20 Total deposits 40,797 _ 1,547 _ 2,450 Deferred availability cash items ((11,,119922)) 5,623 514 + 224444 Other liabilities and accrued dividends4 2,588 - 62 + 440022 TOTAL LIABILITIES ((11,,119922)) 266,227 2 3 766 + 1166,,551177 CAPITAL ACCOUNTS Capital paid in 2,118 + 1 + 148 Surplus 2,047 — + 174 Other capital accounts 404 - 8 + 13 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 $ 7,782 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 522 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 $ 43 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 27, 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 [ 3,246 — 7,273 2,974 174 + 9 16 days to 90 days 169 — 50,742 498 776 + 98 91 days to 1 year — — 66,996 + 211 1,759 88 Over 1 year to 5 years — — 53,722 — 3,173 6 Over 5 years to 10 years — — 15,486 — 1,130 13 Over 10 years — _rr. 26,508 — 189 — Total 3,415 220,727 3,261 7,201 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 27, 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 11,062 680 3,312 389 655 917 584 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 374 21 11 20 25 55 49 27 26 10 29 34 67 Loans 3,415 6 15 27 11 9 14 34 198 107 85 2,819 90 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 103,750 6,297 35,457 2,941 5,993 8,055 4,838 12,595 3,053 1,478 3,902 5,819 13,322 Notes 87,484 5,309 29,898 2,481 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 2 220,727 13,396 75,434 6,258 1*2,751 17,137 10,292 26,797 6,495 3,144 8,302 12,379 28,342 HHeelldd uunnddeerr rreeppuurrcchhaassee aaggrreeeemmeennttss 11 — — — — — — — — — — — — — TToottaall UU..SS.. ggoovveerrnnmmeenntt sseeccuurriittiieess 220,727 13,396 75,434 6,258 12,751 17,137 10,292 26,797 6,495 3,144 8,302 12,379 28,342 Total loans and securities 231,343 13,839 77,910 6,489 13,178 17,705 10,642 27,705 6,905 3,353 8,658 15,602 29,357 Items in process of collection 8,431 543 1,388 730 333 516 685 729 430 376 754 496 1,451 Bank premises 729 92 33 47 32 119 57 88 20 23 46 21 151 Other assets 3 15,031 558 3,750 500 710 809 899 4,021 357 313 497 918 1,699 Interdistrict settlement account -0- + 789 + 844 + 261 - 268 + 939 + 42 + 779 - 69 + 828 + 579 - 3,196 - 1,528 TOTAL ASSETS 271,988 16,836 88,737 8,598 14,979 21,521 13,161 35,399 8,197 5,137 11,269 14,858 33,296 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 $ 7,782 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 522 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 $ 43 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 27, 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 LIABILITIES Federal Reserve notes 217,219 13,481 73,514 5,876 12,850 17,873 7,905 30,268 6,735 3,804 9,213 11,451 24,249 Deposits: > Depository institutions 36,642 2,653 8,202 1,894 1,443 2,771 4,173 2,618 900 781 1,096 2,302 6,809 U.S. Treasury—general account 3,490 — 3,490 — — — — — — — — — — Foreign—official accounts 343 5 233 7 8 9 13 19 4 5 6 13 21 Other 322 1 234 2 1 25 2 49 1 1 2 2 2 Total deposits 40,797 2,659 12,159 1,903 1,452 2,805 4,188 3,686 905 787 1,104 2,317 6,832 Deferred credit items 6,815 366 986 535 281 376 556 535 355 368 675 528 1,254 Other liabilities and accrued dividends 1 2,588 160 865 73 150 199 123 331 76 41 97 143 330 TOTAL LIABILITIES 267,419 16,666 87,524 8,387 14,733 21,253 12,772 34,820 8,071 5,000 11,089 14,439 32,665 CAPITAL ACCOUNTS Capital paid in 2,118 75 552 101 113 121 187 268 58 66 85 198 294 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 404 27 120 13 20 33 21 50 10 8 10 46 46 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 271,988 16,836 88,737 8,598 14,979 21,521 13,161 35,399 8,197 5,137 11,269 14,858 33,296 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 261,825 16,793 78,123 9,487 15,159 22,344 12,130 33,114 8,740 4,681 11,803 14,994 34,457 Less-Held by F.R. Banks 44,606 3,312 4,609 3,611 2,309 4,471 4,225 2,846 2,005 877 2,590 3,543 10,208 F.R. notes, net 217,219 13,481 73,514 5,876 12,850 17,873 7,905 30,268 6,735 3,804 9,213 11,451 24,249 Collateral held against F.R. notes: Gold certificate account 11,062 Special Drawing Rights certif. ace 5,018 Other eligible assets -0- U.S. govt, and agency securities 201,139 Total collateral 217,219 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