H.4.1 Factors Affecting Reserve Balances of Depository Institutions

^bicofcj FEDERAL RESERVE These data are scheduled for release each Thursday. The exact time of each release will be announced, when 3?BB5F 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 December 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 DDeecc-- 77,, 11998888 Nov. 30. 1988 Dec • 9. 1987 Dec. 7. 1988 Reserve Bank credit: *.* 261,945 + 2,517 + 17,158 262,932 U.S. government securities— Bought outright—system account 234,192 + 4,933 + 14,880 233,451 Held under repurchase agreements — - 1,746 - 422 — Federal agency obligations- Bought outright 7,102 — - 465 7,102 Held under repurchase agreements — - 628 - 56 — Acceptances- Bought outright — — — — Held under repurchase agreements — — — — Loans to depository institutions 2,016 - 351 + 1,262 1,819 Includes: seasonal borrowing of 139 - 30 + 61 119 extended credit of 1,458 + 195 + 841 1,604 Float 144 - 351 - 769 2,314 Other F.R. assets 18,491 + 660 + 2,727 18,246 Gold stock 11,062 + 2 - 20 11,062 Special Drawing Rights certificate account 5,018 — — 5,018 Treasury currency outstanding 18,745 + 11 + 607 18,757 Total factors supplying reserve funds 296,769 + 2,529 + 17,743 297,769 Currency in circulation* 242,448 + 269 + 16,729 243,044 Treasury cash holdings* 402 + 3 _ 53 402 Deposits, other than reserve balances, with F.R. Banks: Treasury 4,306 - 831 + 541 4,185 Foreign 284 + 22 + 61 251 Service-related balances and adjustments3 2,147 + 215 + 233 1,612 Other 317 » 235 _. 11 345 Other F.R. liabilities and capital 8,074 + 32 ± 447 7,681 Total factors, other than reserve balances, absorbing reserve funds 257,978 - 524 + 17,920 257,520 Reserve balances with F.R. Banks * 38,791 + 3,053 - 178 40,249 On December 7, 1988 , marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 235,013 million, a decrease of $ 118 million for the week. 1 Net of $3,045 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 3,045 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 3,829 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which & net of $ 3,829 million was with foreign official and international accounts. Includes $ 955 million securities loaned-fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,612 million and adjustments of $ 535 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 RANKS Millions of dollars Change since ** WWeeddnneessddaayy WednesJay Wednesday December 7, 1988 November 30, 1988 December 9, : 987 ASSETS Gold certificate account 11,062 + 3 - 20 Special Drawing Rights certificate account I 5,018 — Coin ] 408 + 4 2!> Loans 1,819 509 + 1,00;! Acceptances— Held under repurchase agreements Federal agency obligations- Bought outright 7,102 46 > Held under repurchase agreements 1 1,282 U.S. government securities: Bought outright—Bills 113,006 + 1,282 + 5,06* Notes 90,515 + 3,031 + 7,54> Bonds 29,930 + 437 + 1,688 Total bought outright2 233,451 + 4,750 + 14,29J Held under repurchase agreements 1 - 4,001 Total U.S. government securities 35?,73T + 74$ + 14,291 Total loans and securities 242,372 - 1,042 + 14,830 Cash items in process of collection (1.217) 8,979 + 2,858 + 2,103 Sank premises 745 + 2 + 4> Other assets 3 17,501 - 160 + 2,277 TOTAL ASSETS (1,217) 286,085 + 1,665 + 19,213 LIABILITIES Federal Reserve notes 225,097 + 562 + 16,04L Deposits: Depository institutions 41,861 + 1,849 + 1,90) U.S. Treasury—general account 4,185 - 1.Q13 - 39 5 Foreign—official accounts 251 + 4L Other _ 345 53 + 1 Total deposits 46,642 + 783 + 1,546 Deferred availability cash items Other liabilities and accrued dividends4 (1,217) 6,665 + 645 + 1,073 3,082 - 139 + 365 TOTAL LIABILITIES (1,217) 281,486 1,851 + 19,022 CAPITAL ACCOUNTS 2,107 + 75 Capital paid in 2,047 + 174 Surplus Other capital accounts 445 187 - 55 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 $ 1,281 million was outstanding at the end of the latest statement week. Net of S 3,829 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 955 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 $ no 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, December 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 1,753 — 11,362 - 1,221 84 - 1,473 16 days to 90 days 66 — 52,234 - 1,425 885 + 210 91 days to 1 year — — 75,051 + 576 1,438 — 19 Over 1 year to 5 years — — 55,325 + 1,824 3,413 — Over 5 years to 10 years -— — 12,569 + 562 1,093 — Over 10 years — :|i 2b,909 + 432 189 — Total 1,819 233,451 + 759 7,102 — :|i 2b,909 + 432 189 233,451 + 759 7,102 — 1,282 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 December 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 ci n s co ASSETS Gold certificate account i1,062 680 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 408 21 14 29 26 61 42 43 29 11 29 31 72 Loans 1,819 12 52 1 5 18 9 87 13 24 1,597 1 Acceptances held under repurchase agreements Federal agency obligations: Bought outright 7,102 431 2,427 202 410 552 331 862 209 101 267 398 912 Held under repurchase agreements 1 U.S. government securities: Bought outright-Bills 113,006 6,859 38,620 3,204 6,528 8,774 5,269 13,719 3,325 1,610 4,250 6,338 14,510 Notes 90,515 5,493 30,934 2,566 5,229 7,028 4,221 10,989 2,663 1,289 3,405 5,076 11,622 Bonds 29,930 1,816 10,228 849 1,729 2,324 1,395 3,634 881 426 1,126 1,679 3,843 Total bought outright 2 233,451 14,168 79,782 6,619 13,486 18,126 10,885 28,342 6,869 3,325 8,781 13,093 29,975 Held under repurchase agreements 1 Total U.S. government securities 233,451 14,168 79,782 6,619 13,486 18,126 10,885 28,342 6,869 3,325 8,781 13,0-93 29,975 Total loans and securities 242,372 14,611 82,209 6,873 13,897 18,683 11,234 29,213 7,165 3,439 9,072 15,088 30,888 Items in process of collection 10,196 420 1,116 348 281 561 756 691 466 387 1,174 682 3,314 Bank premises 745 91 32 46 32 123 59 98 20 24 47 22 151 Other assets 3 17,501 581 4,071 581 784 869 1,062 4,223 398 370 562 2,076 1,924 Interdistrict settlement account -0- + 574 + 1,929 + 281 + 135 + 2,537 + 375 - 1,800 + 739 + 811 + 880 - 4,011 - 2,450 TOTAL ASSETS 287,302 17,292 94,172 8,709 16,124 24,212 14,315 34,518 9,345 5,276 12,470 14,871 35,998 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 $ 1,28 lmillion was outstanding at the end of the latest statement week. 2 Net of $ 3,829 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 955 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 $ 110 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 December 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 225,097 13,945 76,680 6,298 13,625 20,042 8,434 29,400 7,736 3,929 9,881 11,553 23,574 Deposits: Depository institutions 41,861 2,592 9,742 1,716 1,761 3,147 4,497 3,350 988 761 1,149 2,205 9,953 U.S. Treasury-general account 4,185 4,185 Foreign-official accounts 251 ! 5 141 7 8 9 13 19 4 5 6 13 21 Other 345 2 179 2 1 27 1 122 1 1 2 3 4 Total deposits 46,642 2,599 14.247 1,725 1,770 3,183 4,511 3,491 993 767 1,157 2,221 9,978 Deferred credit items 7,882 381 920 382 306 480 816 658 401 394 1,122 589 1,433 Other liabilities and accrued dividends 1 3,082 195 1,065 90 173 233 146 377 87 47 115 170 384 TOTAL LIABILITIES 282,703 17»120 92,912 8,495 15,874 23,938 13,907 33,926 9,217 5,137 12,275 14,533 35,369 CAPITAL ACCOUNTS Capital paid in 2,107 75 564 103 114 123 196 272 59 67 86 157 291 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 445 29 155 14 23 37 31 59 11 9 24 6 47 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 287,302 17,292 94,172 8,709 16,124 24,212 14,315 34,518 9,345 5,276 12,470 14,871 35,998 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 272,202 16,897 83,660 10,031 16,381 23,878 12,613 33,391 9,485 4,829 12,333 14,822 33,882 Less-Held by F.R. Banks 47,105 | 2,952 6,980 3,733 2,756 3,836 4,179 3,991 1,749 900 2,452 3,269 10,308 F.R. notes, net 225,097 1133,,994455 7766,,668800 66,,229988 1133,,662255 2200,,004422 88,,443344 2299,,440000 77,,773366 33..992299 99,,888811 1111,,555533 23,574 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 209,017 Total collateral 225,097 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