H.4.1 Factors Affecting Reserve Balances of Depository Institutions

oOL^o^ FEDERAL RESERVE These data are scheduled for release each Thursday. The exact time of each release will be announced, when •^rl^:-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 15, 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 Wednesday SSeepptt.. 1144,, 11998888 Sept. 7, 1988 Sept. 16, 1981 Sept. 14, 1988 Reserve Bank credit: ^ 254,912 + 1,901 + 18,453 256,053 U.S. government securities- Bought outright—system account 224,040 + 6 + 13,014 223,556 Held under repurchase agreements 984 + 984 + 984 2,037 Federal agency obligations- Bought outright 7,191 432 7,191 Held under repurchase agreements 304 + 304 + 304 651 Acceptances- Bought outright Held under repurchase agreements Loans tc depository institutions 3,031 + 187 + 2,005 2,907 Includes: seasonal borrowing of 394 11 + 180 407 extended credit of 2,479 + 212 + 1,816 2,434 Float 1,183 7 + 413 1,335 Other F.R assets 18,180 + 429 + 2,166 18,376 Gold stock 11,062 + 1 6 11,062 Special Drawing Rights certificate account 5,018 5,018 Treasury currency outstanding 18,597 + 14 + 618 18,609 Total factors supplying reserve funds 289,589 + 1,916 + 19,064 290,742 Currency in circulation* 237,454 + 408 + 18,711 237,106 Treasury cash holdings* 389 8 69 389 Deposits, other than reserve balances, with F.R. Banks: Treasury 3,986 + 808 221 4,846 Foreign 221 24 34 198 Service-related balances and adjustments 3 1,784 11 124 1,638 Other 332 57 39 339 Other F.R. liabilities and capital 7,589 + 147 + 536 7,447 Total factors, other than reserve balances, absorbing reserve funds 251,754 + 1,263 + 18,759 251,963 Reserve balances with F.R. Banks 4 37,834 + 652 • + 307 38,779 On September 14, 1988 , marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 277,332 million, an increase of $ 518 million for the week. 1 Net of $ 4,861 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4,861 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 5,585 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 5,585 million was with foreign official and international accounts. Includes $ 235 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,638 million and adjustments of $ 146 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 K4.1 (a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS Millions of dollars Change since •• WWeeddnneeaaddaayy Wednesday Wednesday September 14, 1988 Septembe r 7, 1988 September 16, 1987 ASSETS Gold certificate account 11,062 ~~ » • 6<• • Special Drawing Rights certificate account 5,018 —"• "•"" Coin 360 + 6 67 Loans 2,907 - 88 + 2,235 Acceptances- Held under repurchase agreements — — — Federal agency obligations- Bought outright 7,191 — 432 Held under repurchase agreements1 651 + 651 + 651 U.S. government securities: Bought outright—Bills 106,579 + 3,111 2,186 Notes 87,484 — + 8,640 Bonds 2299,,449933 — + 1,882 Total bought outright^ 222233,,555566 ++ 3,111 + 8,336 Held under repurchase agreements1 2,037 + 2,037 + 2,037 Total U.S. government securities 225,593 + 5,148 + 10,373 Total loans and securities 236,342 + 5,711 + 12,827 Cash items in process of collection (1,123) 7,600 - 3,031 862 Bank premises 734 - 1 + 47 Other assets 3 17,642 - 136 + 1,757 TOTAL ASSETS (1,123) 278,758 + 2,549 + 13,696 LIABILITIES Federal Reserve notes 219,246 - 717 + 17,980 Deposits: Depository institutions 40,417 + 3,102 + 1,522 U.S. Treasury—general account 4,846 + 2,198 4,633 Foreign—official accounts 198 - 7 84 Other 339 - 14 164 Total deposits 45,800 + 5,279 3,359 Deferred availability cash items (1,123) 6,265 _ 2,050 1,201 Other liabilities and accrued dividends4 2,915 + 19 + 56 TOTAL LIABILITIES (1,123) 274,226 + 2,531 + 13,476 CAPITAL ACCOUNTS Capital paid in 2,085 + 1 + 86 Surplus 2,047 + 173 Other capital accounts 400 •+ 17 39 Figures in parentheses are the eliminations made in the consolidating process. Does not include U.S. government and federal agency securities resold under matched aate-purchaae transactions to foreign official and international accounts of which $ -o- million was outstanding at the end of the latest statement week. Net of $ 5,585 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 235 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 $ 83 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, September 14, 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 obi gation6 LLooaannss AAcccceeppttaanncceess Holdings | Weekly changes Holdings [Weekly changes Within 15 days 2,665 9,622 + 2,462 656 + 576 16 days to 90 days 242 — 51,659 + 2,507 929 + 79 91 days to 1 year — — 68,980 + 179 1,633 _ 84 Over 1 year to 5 years — — 55,124 __ 3,295 + 80 Over 5 years to 10 years — — 13,700 —. 1,140 Over 10 years — --^^55 2266,,550088 — 118899 Total 2,907 222255,,559933 ++ 5,148 77,,884422 ++ 65T 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 September 14, 1988 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland R ichmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco 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 360 18 11 21 23 53 49 28 25 9 26 35 62 Loans 2,907 7 1 23 8 4 27 46 193 98 71 2,413 16 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 ! 651 — 651 — — — — — — "" U.S. government securities: Bought outright-Bills 106,579 6,468 36,424 3.022 6,156 8,275 4,970 12,939 3,136 1,518 4,009 5,97 7 13,68 5 N B o o t n e d s s 8 2 7 9 , , 4 4 8 9 4 3 j 5 _,_ ,3 7_ 0 9 9 0 _ _1 2 0 9 , , 0 8 8 9 0 8 2.4 8 8 3 0 6 _ 5 1 , ,7 0 0 5 3 4 6 2 , , 7 2 92 9 0_ __1 4 » , _ 0 _ 7 _ 9 _ 1 3 0 , , 5 6 8 2 1 1 2,5 8 7 6 4 8 1,2 4 4 2 6 0 ___. 3 L , 1 29 9 1 .L -_ 4 1 , , 9 65 0 4 7 1 3 1 , , / 2 :8 3 7 3 Total bought outright 2 223,556 13,568 76,401 6,338 12,914 17,357 10,424 27,140 6,578 3,184 8,409 12,538 28,/05 Held under repurchase agreements 1 22,,003377 22,,003377 — — — Total U.S. government securities 222255 ,,""559933 1133,,556688"" 7788,,443388"""""" ~~~~""~~66773333~~88~~~~~~"" ''""[[""2277991144"""""" ""1177,,335577 10,424 27,140 ""66,,557788"""""""" ''"" 33~~,,TT8844 8877440099"""""" """"""""112277553388"" ?8,/05 Total loans and securities 236,342 14,011 81,548 6,565 13,337 17,919 10,786 28,059 6,983 3,385 8,751 15,354 29,644 Items in process of collection 8,723 431 827 538 393 586 745 726 490 386 1,269 690 1,64 2 Bank premises 734 92 33 47 32 120 58 91 20 23 46 21 151 Other assets 3 17,642 620 4,418 632 831 926 1,131 4,381 424 389 598 1,128 2, 164 Interdistrict settlement account --00-- ++ 776644 ++ 33..888811 -- 3377 ++ 330044 + 1,183 - 1,358 - 339 - 46 + 551 ++ 7700 -- 33,,771111 - 1,262 TOTAL ASSETS 227799,,888811 116677993300 """" 9955"".. 551199"" "" 88,,331177 1155,,888899 22,165 12,198 34,996 8,424 4,977 ""TT11..446666 ~~ 1144,,550000 34,500 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 $ 5,585 million matched sale purchase transactions outstanding at the end of the latest statement week. Includes $ 235 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 $ 83 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 September 14. 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 219,246 1144,,005522 77775555,,,,777733336666 5555,,,,999911114444 13,931 18,037 7777,,,,000088880000 333000,,,333555555 666,,,666777888 3333,,,,888844446666 9999,,,,000011112222 11,362 23,243 Deposits: Depository institutions 40.417 22,,113300 11111111,,,,777700008888 1111,,,,777722220000 1,252 3,127 3333,,,,999944448888 333,,,000000333 111,,,000777999 555577770000 999999993333 2,004 8,883 U.S. Treasury—general account 4.846 4444,,,,888844446666 Foreign—official accounts 198 55 88887777 7777 8 9 11113333 111999 444 5555 6666 13 22 Other 339 11 111144444444 47 1111 999444 2222 47 3 Total deposits 45.800 22,,113366 11116666,,,,777788885555 1111,,,,777722227777 111,,,222666000 333,,,111888333 """" 3333,,,,999966662222 333,,,111111666 """ TTT777000888333 ----555577775555™™™™"""" """"""""""""""""VVVV....bbbbooooTTTT 222,,,000666444 8,908 Deferred credit items 7.388 339977 777722222222 333388880000 222888888 444555777 666622228888 555999000 444555000 333377774444 1111,,,,111166664444 555888666 1,352 Other liabilities and accrued dividends1 2,915 117766 1111,,,,000044441111 88882222 111666222 222111777 111133336666 333555333 888555 44445555 111100007777 111555777 354 TOTAL LIABILITIES 227755,,334499 1166,,776611 99994444,,,,222288884444 """""""" 8888,,,,111100003333 """"~~~~ TTT555,,,666444"""lll """ TTTlll,,,888999444 11111111,,,,888800006666 333444,,,444111444 ''' 888777222999666""" """" 4444,,,,888844440000 """" llllllll"""",,,,2222~~~~88884444 111444777111666999 33,857 CAPITAL ACCOUNTS Capital paid in 22,,008855 7744 555555556666 111100002222 111111444 111222222 111188888888 222666888 555999 66666666 88885555 111555333 298 Surplus 22,,004477 6688 555544441111 99997777 111111333 111111444 111188881111 222666111 555888 66663333 88885555 111777555 291 Other capital accounts 440000 __ 22__77____ __ 111133338888 ____ 11115555 ________ 222111 333555 ____22223333 555333 111111 8888 11112222________________ 333___ 54 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 227799,,888811 1166,,993300 99995555,,,,555511119999 8888,,,,333311117777 111555,,,888888999 222222,,,111666555 11112222,,,,111199998888 34,996 8,424 4444,,,,999977777777 11111111,,,,444466666666 111444,,,555000000 34,500 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 264,866 17,297 81,581 99,,444400 1166,,224477 2222,,446655 1111,,443322 3333,,116699 88,,661199 44,,774444 1111,,554499 1144,,774400 33,583 Less-Held by F.R. Banks 45,620 3,245 5,845 33,,552266 22,,331166 44,,442288 44,,335522 22,,881144 11,,994411 889988 22,,553377 33,,337788 ....10,340 F.R. notes, net 219.246 14,0.52 75,736 5577991144"" "" 1133,,993311 ""11887766 33"" 77 77,,008800 3300,,335555 66~~,,6677~~88 33,,884466 """"111177336622 23,243 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 203,166 Total collateral - 2197246""" 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