H.4.1 Factors Affecting Reserve Balances of Depository Institutions

;^g&?; FEDERAL RESERVE These data are scheduled for release each Thursday. The exact time of each release will be announced, when ?f^f!P*: 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 15, 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.. 1144,, 11998888 Dec. 7, 1988 Dec. 16b 1987 Dec. 14, 1988 Reserve Bank credit: 1- 2 262,424 + 479 + 17,374 261,481 U.S. government securities- Bought outright—system account 232,906 1,286 + 13,900 231,313 Held under repurchase agreements 360 + 360 + 360 239 Federal agency obligations- Bought outright 7,066 36 492 7,018 Held under repurchase agreements 348 + 348 + 348 74 Acceptances- Bought outright Held under repurchase agreements Loans to depository institutions 2,012 4 + 1,137 2,197 Includes: seasonal borrowing of 122 17 + 35 124 extended credit of 1,599 + 141 + 910 1,721 Float 1,407 + 1,263 535 2,300 Other F.R. assets 18,324 167 + 2,656 18,340 Gold stock 11,062 19 11,061 Special Drawing Rights certificate account 5,018 5,018 Treasury currency outstanding 18,759 + 14 + 611 18,771 Total factors supplying reserve funds 297,262 + 493 + 17,965 296,331 Currency in circulation* 243,389 + 938 + 16,942 243,944 Treasury cash holdings* 405 + 7 50 405 Deposits, other than reserve balances, with F.R. Banks: Treasury 4,807 + 501 10 4,638 Foreign 237 47 + 4 233 Service-related balances and adjustments3 2,073 74 55 1,612 Other 310 7 11 300 Other F.R. liabilities and capital 7,930 144 + 624 7,695 Total factors, other than reserve balances, absorbing reserve funds 259,151 + 1,173 + 17,445 258,827 Reserve balances with F.R. Banks4 38,111 680 + 520 37,504 On December 14, 1988 , marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 234,513 million, a decrease of $ 500 million for the week. 1 Net of $ 4,947 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 4,711 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 6,744 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 5,091 million was with foreign official and international accounts. Includes $ 1,179 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ l 612 million and adjustments of $ 461 million to compensate for float. v 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 December 14, 1988 December 7, 1988 December K, 1987 ASSETS I Gold certificate account 11,061 1 - 20 Special Drawing Rights certificate account 5,018 — Coin I 429 + 2 1 + 34 Loans 2,197 + 378 + 1,361 Acceptances— Held under repurchase agreements Federal agency obligations-* Bought outright 7,018 84 - 538 Meld under repurchase agreements 1 74 74 + 74 U.S. government securities: Bought outright—Bills 110,793 2,213 + 5,293 Notes 90,590 75 + 7,517 Bonds 29,930 — ++ 1,588 Total bought outright? 231,313 2,138 ++ 14,598 Held under repurchase agreements 1 239 239 + 239 Total U.S. government securities 231,552 1,899 + 14,337 Total loans and securities 240,841 1,531 + 15,734 Cash items in process of collection (1,450) 8,941 38 - 3, J20 Bank premises 745 — + 46 Other asset83 17,595 94 + 2, >32 TOTAL ASSETS (1,450) 284,630 1,455 + 14, '06 LIABILITIES Federal Reserve notes 226,007 910 + 16,^35 Deposits: Depository institutions 39,116 2,745 + 3,125 U.S. Treasury—general account 4,638 453 - 4,-98 Foreign—official accounts 233 18 - 37 Other 300 45 - 59 Total deposits 44,287 2,355 - 1,269 Deferred availability cash items (1,450) 6,641 24 - 1.C60 Other liabilities and accrued dividends4 3,099 17 + 401 TOTAL LIABILITIES (1,450) 280,034 1,452 + 14,f07 CAPITAL ACCOUNTS Capital paid in 2,110 3 + 77 Surplus 2,047 — + 174 Other capital accounts 439 6 - 52 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 off iciai and international accounts of which $ -o- million was outstanding at the end of the latest statement week. Net of $ 6,744 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $1,179 million securities loaned—fully secured by U.S. government securities. Includes assets denominated in foreign currencies, revalued monthly at market exchange rotes, 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 ratec of foreign exchange com mitments. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, December 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 obligations Loans AAcccceeppttaanncceess Holdings (Weekly changes Holdings [Weekly changes Within 15 days 2,132 — 7,978 - 3,384 153 + 69 16 days to 90 days 65 — 53,691 + 1,457 831 54 91 days to 1 year — — 75,079 + 28 1,483 + 45 Over 1 year to 5 years — — 55,326 — 3,368 45 Over 5 years to 10 years — ~ 12,569 — 1,068 25 Over 10 years — 2266,,990099 — 118899 — __ __,, Total 2,197 mmmm 223311,,555522 1,899 77,,009922 10 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 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 226,007 14,081 77,289 6,411 13,547 20,037 8,331 29,289 7,752 4,029 9,740 . 11,540 23,961 Deposits: Depository institutions 39,116 2,508 9,008 1,560 1,581 3,253 3,810 3,709 1,116 873 1,236 2,230 8,232 U.S. Treasury—general account 4,638 — 4,638 — — — — — — — — — — Foreign-official accounts 233 5 123 7 8 9 13 19 4 5 6 13 21 Other 300 2 132 2 1 26 3 124 — 1 1 3 5 Total deposits 44,287 2,515 13,901 1,569 1,590 3,288 3,826 3,852 1,120 879 1,243 2,246 8,258 Deferred credit items 8,091 386 923 529 308 470 804 647 500 393 1,155 505 1,471 Other liabilities and accrued dividends 1 3,099 192 1,085 89 175 232 148 372 89 48 116 170 383 TOTAL LIABILITIES 281,484 17,174 93,198 8,598 15,620 24,027 13,109 34,160 9,461 5,349 12,254 14,461 34,073 CAPITAL ACCOUNTS Capital paid in 2,110 75 564 103 114 123 196 273 59 67 87 158 291 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 439 28 151 16 23 37 32 63 11 9 14 7 48 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 286,080 17,345 94,454 8,814 15,870 24,301 13,518 34,757 9,589 5,488 12,440 14,801 34,703 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 273,231 17,058 84,542 10,015 16,313 23,760 12,462 33,343 9,532 4,916 12,309 14,751 34,230 Less-Held by F.R. Banks 47,224 2,977 7,253 3,604 2,766 3,723 4,131 4,054 1,780 887 2,569 3,211 10,269 F.R. notes, net 226,007 14,081 77,289 6,411 13,547 20,037 8,331 29,289 7,752 4,029 9,740 11,540 23,961 Collateral held against F.R. notes: Gold certificate account 11,061 Special Drawing Rights certif. ace 5,018 Other eligible assets -0- U.S. govt, and agency securities 209,928 Total collateral 226,007 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

H.4.1 (b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON December 14, 1988 Millions of dollars Kansas San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco ASSETS Gold certificate account 11,061 680 3.311 389 655 917 584 1,394 368 168 490 676 1,429 Special Drawing Rights cert if. acct. 5,018 314 1.489 162 314 461 203 656 160 66 216 307 670. Coin 429 21 16 31 28 63 44 47 30 12 32 32 73 Loans 2,197 13 6 58 5 6 17 27 83 13 76 1,718 175 Acceptances held under repurchase agreements Federal agency obligations: Bought outright 7,018 426 2,398 199 405 545 327 852 207 100 264 394 901 Held under repurchase agreements 1 74 — 74 — — — — — — — — — — U.S. government securities: Bought outright-Bills 110,793 6,724 37,864 3,141 6,400 8,602 5,166 13,451 3,260 1,578 4,167 6,214 14,226 Notes 90,590 5,498 30,960 2,568 5,233 7,034 4,224 10,998 2,665 1,290 3,407 5,081 11,632 Bonds 29,930 1,816 10,228 849 1,729 2,324 1,396 3,633 881 427 1,126 1,678 3,843 Total bought outright 2 231,313 14,038 79,052 6,558 13,362 17,960 10,786 28,082 6,806 3,295 8,700 12,973 29,701 Held under repurchase agreements 1 239 — 239 — — — — — — — — — — Total U.S. government securities 231,552 14,038 79,291 6,558 13,362 17,960 10,786 28,082 6,806 3,295 8,700 12,973 29,701 Total loans and securities 240,841 14,477 81,769 6,815 13,772 18,511 11,130 28,961 7,096 3,408 9,040 15,085 30,777 items in process of collection 10,391 508 1,156 502 347 916 793 1,100 581 450 1,230 539 2,269 Bank premises 745 91 32 46 32 123 59 98 20 24 47 22 151 Other assets 3 17,595 596 4,159 590 797 972 1,081 4,255 406 373 328 2,091 1,947 Interdistrict settlement account -0- + 658 + 2,522 + 279 - 75 + 2,338 - 376 - 1,754 + 928 + 987 + 1,057 - 3,951 - 2,613 TOTAL ASSETS 286.080 17,345 94,454 8,814 15,870 24,301 13,518 34,757 9,589 5,488 12,440 14*801 34,703 1 uoes 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 $ 6,744 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $1,179 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 day?. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis