H.4.1 Factors Affecting Reserve Balances of Depository Institutions

£jy§s& 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. <«AL Rfctf H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of F.R. Banks Senrpmh >pr ??. 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 2211,, 11998888 Sep c 14, 1988 Sept. 23, 198; Sept. 21, 1988 Reserve Bank credit: 1-2 258,496 + 3,584 + 6,584 274,668 U.S. government securities- Bought outright—system account 223,886 _ 154 + 9,461 224,051 Held under repurchase agreements 4,140 + 3,156 _ 4,842 13,538 Federal agency obligations- Bought outright 7,191 — _ 432 7,191 Held under repurchase agreements 1,696 + 1,392 _ 694 3,539 Acceptances- Bought outright • Held under repurchase agreements Loans to depository institutions 2,911 _ 120 + 1,935 7,373 Includes: seasonal borrowing of 422 + 28 + 185 428 extended credit of 1,671 - 808 + 1,273 2,100 Float 971 _ 212 + 149 786 Other F.R. assets 17,701 _ 479 + 1,007 18,190 Gold stock 11,062 . _ 6 11,063 Special Drawing Rights certificate account 5,018 5,018 Treasury currency outstanding 18,611 + 14 4- 620 18,623 Total factors supplying reserve funds 293,188 + 3,599 + 7,199 309,372 Currency in circulation** 236,170 _ 1,284 + 18,708 235,756 Treasury cash holdings** 389 — - 71 389 Deposits, other than reserve balances, with F.R. Banks: Treasury 8,971 + 4,985 - 12,676 19,014 Foreign 231 + 10 + 33 212 Service-related balances and adjustments 3 1,813 + 27 - 152 1,640 Other 467 + 135 + 91 344 Other F.R. liabilities and capital 7,715 + 126 + 47 7,886 Total factors, other than reserve balances, absorbing reserve funds 255,756 + 4,000 + 5,980 265,241 Reserve balances with F.R. Banks 4 27,432 - 400 + . 1,218 44,131 On September 21, 1988, marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 223,989 million, a decrease of $ 3,343 million for the week. 1 Net of $ 5,680 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 5,680 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 5,738 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 5,738 million was with foreign official and international accounts. Includes $ 133 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,640 million and adjustments of $ 173 million to compensate for float. 4 Excludes required clearing balances and adjustments to compensate for float. * Estimated (Kansas City Districts) ** 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 Wed"n esday Wed nesday September 21, 1988 September 14, 1988 Septemb er 23. 1987 ASSETS Gold certificate account 11,063 + 1 - 5 Special Drawing Rights certificate account 5,018 — — Coin 378 + 18 - 63 Loans 7,373 + 4,466 + 6,438 Acceptances- Held under repurchase agreements Federal agency obligations— Bought outright 7,191 — _ 433 Hekj under repurchase agreements1 3,539 + 2,888 + 90 U.S. government securities: Bought outright—Bills 107,074 + 495 _ 840 Notes 87,484 + 8,639 BBoonnddss 29,493 — + 1,882 TToottaall bboouugghhtt oouuttrriigghhtt22 224,051 -f ~495 + 9,681 Held under repurchase agreements1 13,538 + 11,501 3,691 Total U.S. government securities 237,589 + 11,996 + 5,990 Total loans and securities 255,692 + 19,350 + 12,085 Cash items in process of collection (989) 7,367 233 + 1,056 Bank premises 735 + 1 + 48 Other assets3 17,455 187 + 993 TOTAL ASSETS (989) 297,708 + 18,950 + 14,114" LIABILITIES Federal Reserve notes 217,900 - 1,346 + 17,985 Deposits: Depository institutions 45,771 + 5,354 + 2,076 U.S. Treasury—genera! account 19,014 + 14,168 _ 6,643 Foreign—official accounts 212 -f 14 _ 6 Other 344 + 5 + 20 Total deposits 65,341 + 19,541 _ 4,553 Deferred availability cash items (989) 6,581 + 316 + 792 Other liabilities and accrued dividends4 3,365 + 450 296 TOTAL LIABILITIES (989) 293,187 + 18,961 + 13,928 CAPITAL ACCOUNTS Capital paid in 2,090 + 5 + 85 Surplus 2,047 — + 174 Other capital accounts 384 - 16 - 73 * 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 $ -0- million was outstanding at the end of the latest statement week. 2 Net of $ 5,738 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 133 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 $ 93 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 21, 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 Loans Acceptances Holdings [Weekly changes Holdings [Weekly changes Within 15 days 7,242 23,063 + 13,441 3,754 3,098 16 days to 90 days 131 50,087 1,572 719 210 91 days to 1 year 69,107 + 127 1,633 Over 1 year to 5 years 55,124 3,295 Over 5 years to 10 years 13,700 1,140 Over 10 years 26,508 189 Total 7,373 237,589 11,996 + 10,730 2A Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

I- .4.1 (b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON September 21, 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 ci n s co ASSETS Cold certificate account 11,063 680 3,313 389 655 017 584 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 378 19 12 23 23 57 51 32 26 9 27 35 64 Loans 7,373 354 3,108 164 355 28 44 243 271 106 193 2,076 431 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 3,539 — 3,539 — ~ — — — — — — __ — U.S. government securities: Bought outright—Bills 107,074 6,499 36,593 3,036 6,185 8,313 4,993 12,999 3,151 1,525 4,027 6,005 13,748 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 10,079 836 1,704 2,290 1,375 3,581 868 420 1,109 1,654 3,787 Total bought outright 2 224,051 13,598 76,570 6,352 12,943 17,395 10,447 27,201 6,593 3,191 8,427 12,566 28,768 Held under repurchase agreements 1 13,538 — 13,538 — — — — — — — — — — Total U.S. government securities 237,589 "J~ T37"598" 90,108 6,352 12,943 17,395 10,447 27,901 6,593 3,191 8,427 12,566 28,768 Tata! loans and securities 255,692 14,388 99,213 6,720 13,713 17,981 10,826 28,317 7,076 3,400 8,891 15,045 30,122 Items in proceSsS of collection 8,356 437 1,026 460 320 495 753 731 592 396 654 682 1,810 Bank premises 735 92 33 47 32 120 58 91 20 23 46 21 152 Other assets 3 17,455 613 4,659 608 808 902 1,063 4,331 435 372 632 1,078 1,954 interdistrict settlement account -0- + 739 + 2,043 - 36 + 34 + 1,647 - 1,375 + 452 - 323 + 669 + 187 - 2,751 - 1,286 TOTAL ASSETS 298,697 17,282 111,788 8,373 15,899 22,580 12,163 36,004 8,354 5,103 11,143 15,093 34,915 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 $ _Q_ million was outstanding at the end of the latest statement week. 2 Net of $ 5,738 million matched saie-purchase transactions outstanding at the end of the latest statement week. Includes $ 133 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 $ 93 million in Treasury Bills maturing within 90 days. 4 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 21, 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 217,900 14,001 75,600 5,803 13,890 18,195 6,802 30,297 6,606 3,834 8,976 11,295 22,601 Deposits: Depository institutions 45,771 2,552 13,352 1,805 1,302 3,426 4,202 4,048 876 700 1,199 2,587 9,722 U.S. Treasury—general account 19,014 ~ 19,014 — — — -- ~ ~ ~ -- — — Foreign-official accounts 212 5 101 7 8 9 13 19 4 5 6 13 22 Other 34 £ 1 156 — 1 32 1 102 1 ~ 1 47 2 Total deposits 65,34 1 2,558 32,623 1,812 1,311 3,467 4,216 4,169 881 705 1,206 2,647 9,746 Deferred credit items 7,570 380 823 463 292 434 621 606 654 382 675 663 1,577 Other liabilities and accrued dividends 1 3,365 175 1,510 80 160 215 133 348 87 44 105 155 353 TOTAL LIABILITIES 294,176 17,114 110,556 8,158 15,653 22,311 11,772 35,420 8,228 4,965 10,962 14,760 34,277 CAPITAL ACCOUNTS Capital paid in 2,090 74 556 102 113 122 188 273 58 67 86 153 298 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 384 26 135 16 20 33 22 50 10 8 10 5 49 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 298,697 17,282 111,788 8,373 15,899 22,580 12,163 36,004 8,354 5,103 11,143 15,093 34,915 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 265,669 17,404 81,819 9,410 16,477 22,813 11,274 33,454 8,584 4,734 11,514 14,703 33,483 Less-Held by F.R. Banks 47,769 3,403 6,219 3,607 2,587 4,618 4,472 3,157 1,978 900 2,538 3,408 10,882 F.R. notes, net 217,900 14,001 75,600 5,803 13,890 18,195 6,802 30,297 6,606 3,834 8,976 11,295 22,601 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 201,819 Total collateral 217,900 1 Includes exchange translation account reflecting the monthly revaluation at market exchange rates of foreign exchange commitments. ^Estimated (Kansias City Districts) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis