H.4.1 Factors Affecting Reserve Balances of Depository Institutions

!o? covi 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 September 8 , 1988 Averages of daily figures (millions of dollars) * RReesseerrvvee bbaallaanncceess ooff ddeeppoossiittoorryy iinnssttiittuuttiioonnss aatt FF..RR BBaannkkss,, WWeeeekk eennddeedd ** Change from week ended Wednesday RReesseerrvvee BBaannkk ccrreeddiitt,, aanndd rreellaatteedd iitteemmss SSeepptt.. 77,, 11998888 Aus. 31. 1988 Sept. 9. 1987 Sept. 7, 1988 Reserve Bank credit: 1* 253,002 + 1,128 + 18,148 251,459 U.S. government securities- Bought outright—system account 224,034 + 1,016 + 14,125 220,445 Held under repurchase agreements Federal agency obligations- Bought outright 7,191 432 7,191 Held under repurchase agreements Acceptances- Bought outright Held under repurchase agreements Loans to depository institutions I 2,844 498 + 2,096 2,995 Includes: seasonal borrowing of 405 54 + 186 389 extended credit of 2,267 430 + 2,058 2,519 Float 1,191 + 690 + 346 2,318 Other F.R. assets 17,741 81 + 2,011 18,510 Gold stock 11,061 1 8 11,062 Special Drawing Rights certificate account 5,018 5,018 Treasury currency outstanding 18,583 + 11 + 617 18,595 Total factors supplying reserve funds 287,664 + 1,137 + 18,756 286,134 Currency in circulation** 237,046 + 1,880 + 18,751 237,815 Treasury cash holdings** 397 61 389 Deposits, other- than reserve balances, with F.R. Banks: Treasury 3,178 547 520 2,648 Foreign 245 14 31 205 Service-related balances and adjustments 3 1,795 + 14 114 1,637 Other 389 151 + 52 353 Other F.R. liabilities and capital 7,442 + 84 + 297 7,409 Total factors, other than reserve balances, absorbing reserve funds 250,491 + 1,266 + 18,373 250,456 Reserve balances with F.R. Banks4 37,173 128 + 384 35,678 On September 7, 1988 , marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $226,814 million, an increase of $ 3,296 million for the week. 1 Net of $ 4,505 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $4,211 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. Net of $ 8,168 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 6,108 mittion was with foreign official and international accounts. Includes $436 million securities loaned—fully secured U.S. government securities. Consists of required clearing balances of $ i,637 million and adjustments of $ 153 million to compensate for float. Excludes required clearing balances and adjustments to compensate for float. * Estimated (Kansas City District) ** 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 Wednes day September 7, 1988 August 31, 1988 September 9, 198: ASSETS Gold certificate account 11,062 + 1 - 6 Special Drawing Rights certificate account 5,018 — — Coin 354 - 16 - 67 Loans 2,995 - 242 + 1,546 Acceptances- Held under repurchase agreements Federal agency obligations- Bought outright 7,191 — 432 Held under repurchase agreements1 — U.S. government securities: Bought outright—Bills 103,468 2,350 _ 5,841 Notes 87,484 + 12,232 BBoonnddss 29,493 — + 2,394 TToottaall bboouugghhtt oouuttrriigghhtt?? 220.445 _ 2,350 + 8,785 Held under repurchase agreements1 — Total U.S. government securities 220,445 _ 2,350 + 8,785 Total loans and securities 230,631 _ 2,592 + 9,899 Cash items in process of collection (880) 10,410 + 4,127 + 253 Bank premises 735 + 3 4- 47 Other assets 3 17,775 + 869 + 2,618 TOTAL ASSETS (880) 275,985 + 2,392 + 12,744 LIABILITIES - Federal Reserve notes 219,963 + 1,895 + 17,993 Deposits: Depository institutions 37,315 - 553 - 6,184 U.S. Treasury—general account 2,648 - 1,742 + 230 Foreign—official accounts 205 - 26 _ 112 Other 353 - 39 + 45 Total deposits 40,521 _ 2,360 _ 6,021 Deferred availability cash items (880) 8,092 + 2,468 + 191 Other liabilities and accrued dividends4 2,896 + 283 + 364 TOTAL LIABILITIES (880) 271,472 + 2,286 + 12,527 . CAPITAL ACCOUNTS Capital paid in 2,084 + 1 + 84 Surplus 2,047 + 6 + 173 Other capital accounts 382 + 99 40 * Figures in parentheses are the eliminations made in the consolidating process. 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 $ 8,168 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 436 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 $ 35 million in Treasury bills maturing within 90 days. 4 Includes exchange-translation account reflecting the monthly revaluation at market exchange rates of foreign exchange com mitments. ** Kansas City District Estimated MATURITY DISTRIBUTION OF LOANS AND SECURITIES, September 7, 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 2,759 — 7,160 - 3,614 80 _ 207 16 days to 90 days 236 — 49,152 - 1,241 850 + 190 91 days to 1 year — — 68,801 + 2,505 1,717 + 70 Over 1 year to 5 years — — 55,124 — 3,215 _ 53 Over 5 years to 10 years — — 13,700 — 1,140 Over 10 years — --5555 2266,,550088 118899 __ __ Total 2,995 222200,,444455 2,350 77,,119911 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA 1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON September 7, 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 354 18 12 20 23 51 48 24 26 8 26 35 63 Loans 2,995 8 2 32 8 3 26 43 183 110 62 2,500 18 Acceptances held under repurchase agreements Federal agency obligations: Bought outright 7,191 436 2,458 204 415 558 335 873 212 103 271 403 923 Held under repurchase agreements 1 U.S. government securities: Bought outright-Bills 103,468 6,280 35,360 2,933 5,977 8,034 4,825 12,561 3,044 1,474 3,892 5,803 13,285 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 10,080 836 1,703 2,290 1,375 3,581 868 420 1,109 1,654 3,787 Total bought outright 2 220,445 13,379 75,338 6,250 12,734 17,116 10,279 26,763 6,486 3,140 8,292 12,363 28,305 Held under repurchase agreements 1 — — — — — — — — — — — — — Total U.S. government securities 220,445 13,379 75,338 6,250 12,734 17,116 10,279 26,763 6,486 3,140 8,292 12,363 28,305 Total loans and securities 230,631 13,823 77,798 6,486 13,157 17,677 10,640 27,679 6,881 3,353 8,625 15,266 29,246 Items in process of collection 11,290 609 1,343 539 469 724 1,266 1,186 477 526 1,085 916 2,150 Bank premises 735 92 33 47 32 120 58 91 20 23 46 21 152 Other assets 3 17,775 615 4,237 608 819 909 1,128 4,348 416 390 585 1,116 2,604 Interdistrict settlement account -0- f 1,723 + 2,356 + 550 + 860 -1- 1,562 - 1,299 + 105 - 31 + 672 + 524 - 2,952 - 4,070 TOTAL ASSETS 276,865 17,874 90,580 8,801 16,329 22,421 12,628 35,483 8,317 5,206 11,597 15,385 32,244 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 $ 8,168 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 436 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 $ 85 million in Treasury Bills maturing within 90 days. * Estimated Kansas City District 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 September 7, 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 219.963 14,133 75,480 6,007 13,864 17,994 7,381 30,336 6,704 3,884 9,107 11,434 23,639 Deposits: Depository institutions 37,315 2,854 8,954 2,072 1,555 3,274 3,943 3,310 971 646 1,199 2,695 5,842 U.S. Treasury-general account 2,648 — 2,648 — — — — — — — — — — Foreign—official accounts 205 5 95 7 8 9 13 19 4 5 6 13 21 Other 353 1 153 1 1 48 2 95 — — 2 47 3 Total deposits 40,521 2,860 11,850 2,080 1,564 3,331 3,958 3,424 975 651 1,207 2,755 5,866 Deferred credit items 8,972 537 1,065 424 415 610 762 793 428 489 995 709 1,745 Other liabilities and accrued dividends 1 2,896 177 951 82 240 217 136 350 82 45 106 156 354 TOTAL LIABILITIES 272,352 17,707 89,346 8,593 16,083 22,152 12,237 34,903 8,189 5,069 11,415 15,054 31,604 CAPITAL ACCOUNTS Capital paid in 2,084 74 556 101 114 122 188 268 59 66 85 153 298 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 382 25 137 10 19 33 22 51 11 8 12 3 51 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 276,865 17,874 90,580 8,801 16,329 22,421 12,628 35,483 8,317 5,206 11,597 15,385 32,244 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 264,135 17,361 80,916 9,428 16,132 22,236 11,582 32,995 8,598 4,755 11,574 14,801 33,757 Less-Held by F.R. Banks 44,172 3,228 5,436 3,421 2,268 4,242 4,201 2,659 1,894 871 2,467 3,367 10,118 F.R. notes, net 219,963 14,133 75,480 6,007 13,864 17,994 7,381 30,336 6,704 3,884 . 9,107 11,434 23,639 Collateral held against F.R. notes: Gold certificate account 11,062 680 3,312 389 655 917 584 1,394 368 168 490 676 1,429 Special Drawing Rights certif. ace 5,018 Other eligible assets -0- U.S. govt, and agency securities 203,883 Total collateral 219,963 1 Includes exchange translation account reflecting the monthly revaluation at market exchange rates of foreign exchange commitments. * Estimated Kansas City District. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis