H.4.1 Factors Affecting Reserve Balances of Depository Institutions

• ^ ^ •. 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 December 22, 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.. 2211,, 11998888 Dec . 14, 1988 Dec . 23, 1987 Dec. 21, 1988 Reserve Bank credit: 1 2 263,906 + 1,549 + 19,249 263,704 U.S. government securities- Bought outright—system account 234,480 + 1,574 + 15,301 234,839 Held under repurchase agreements 492 + 132 + 492 454 Federal agency obligations- Bought outright 7,018 - 48 - 538 7,017 Held under repurchase agreements 99 - 249 + 99 35 Acceptances- Bought outright — — — Held under repurchase agreements — Loans to depository Institutions 1,332 _ 680 + 746 961 Includes: seasonal borrowing of 127 + 5 + 23 128 extended credit of 1,012 - 587 + 664 628 Float 1,769 + 427 + 646 1,705 Other F.R. assets 18,716 + 393 + 2,504 18,693 Gold stock 11,061 - 1 -. 19 11,060 Special Drawing Rights certificate account 5,018 __ _ __ 5,018 Treasury currency outstanding 18,773 + 14 + 615 18,785 Total factors supplying reserve funds 298,757 + 1,562 + 19,844 298,567 Currency in circulation** 244,312 + 922 + 16,639 245,411 Treasury cash holdings** 398 _ 6 _ 55 398 Deposits, other than reserve balances, with F.R. Banks: Treasury 6,462 + 1,655 + 2,243 10,156 Foreign 270 + 33 + 30 201 Service-related balances and adjustments 3 1,788 285 172 1,593 Other 371 + 61 + 45 318 OOtthheerr FF..RR.. lliiaabbiilliittiieess aanndd ccaappiittaall 8,129 Jr 199 + 859 7,673 TToottaall ffaaccttoorrss,, ootthheerr tthhaann rreesseerrvvee bbaallaanncceess,, absorbing reserve funds 261,731 + 2,580 + 19,590 265,750 Reserve balances with F.R. Banks4 37,026 - 1,018 + 254 32,817 On December 21, 1988 , marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 235,598 million, an increase of $ x,085 million for the week. 1 Net of $ 3,891 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 3,891 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 3,569 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 3,569 million was with foreign official and international accounts. Includes $ 615 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,593 million and adjustments of $ 195 million to compensate for float. 4 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 Wednesday Wednesday Wednesday December 21, 1988 December 14, 1988 December 23, 1987 ASSETS Gold certificate account 11,060 19 Special Drawing Rights certificate account 5,018 Coin 424 5 10 Loans 961 1,236 469 Acceptances- Held under repurchase agreements Federal agency obligations- 7,017 - 1 - 539 Bought outright 35 - 41 + 35 Held under repurchase agreements 1 U.S. government securities: 114,060 + 3,267 + 6,226 Bought outright—Bills 90,850 + 260 + 7,877 Notes 29,929 - 1 + 1,687 Bonds 234,839 + 3,526 + 15,790 Total bought outright2 454 + 215 + 454 Held under repurchase agreements 1 235,293 + 3,741 + 16,244 Total U.S. government securities 243,306 + 2,465 + 16,209 Total loans and securities (1,137) 8,801 + 102 - 38 Cash items in process of collection 745 — + 47 Bank premises 17,948 + Ill + 2,731 Other assets 3 (1,137) 287,302 + 2,672 + 18,920 TOTAL ASSETS LIABILITIES 227,448 + 1,441 + 15,503 Federal Reserve notes Deposits: 34,410 - 4,706 - 4,543 Depository institutions 10,156 + 5,518 + 7,164 U.S. Treasury—general account 201 - 32 - 14 Foreign—official accounts 318 + 18 + 25 Other 45,085 + 798 + 2,632 Total deposits Deferred availability cash items (1,137) 7,096 + 455 + 208 Other liabilities and accrued dividends4 3,032 - 66 + 341 TOTAL LIABILITIES (1,137) 282,661 + 2,628 + 18,684 CAPITAL ACCOUNTS Capital paid in 2,111 + 1 + 66 Surplus 2,047 — + 174 Other capital accounts 483 + 43 - 4 * 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 $ 2,043 million was outstanding at the end of the latest statement week. 2 Net of $ 3,569 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 615 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 $ 106 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. ** Estimated (Kanasas City District) MATURITY DISTRIBUTION OF LOANS AND SECURITIES, December 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 LLooaannss AAcccceeppttaanncceess Holdings (Weekly changes Holdings (Weekly changes Within 15 days 945 — 13,156 + 5,178 283 + 130 16 days to 90 days 16 — 54,978 + 1,287 661 170 91 days to 1 year — — 72,356 - 2,723 1,483 —~ Over 1 year to 5 years — — 55,326 — 3,368 —— Over 5 years to 10 years — — 12,568 - 1 1,068 — Over 10 years 2266,,990099 — 118899 — Total 9966ll --^^ 223355,,229933 ++ 3,741 77,,005522 40 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 21, 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 11,060 680 3,310 389 655 917 584 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 424 23 16 31 21 64 42 50 30 12 32 31 72 Loans 961 8 7 50 2 47 17 32 73 17 . 68 626 14 Acceptances held under repurchase agreements Federal agency obligations: Bought outright 7,017 426 2,398 199 405 545 327 852 206 100 264 394 901 Held under repurchase agreements 1 35 35 U.S. government securities: Bought outright-Bills 114,060 6,922 38,981 3,234 6,589 8,856 5,318 13,847 3,356 1,625 4.290 6,397 14,645 Notes 90.850 5,514 31,048 2,576 5,248 7,054 4,236 11,030 2,673 1,294 3,417 5.095 11,665 Bonds 29,929 1,816 10,228 848 1,729 2,324 1,396 3,633 881 426 1,126 1,679 3,843^ Total bought outright 2 234.839 14,252 80,257 6,658 13,566 18,234 10,950 28,510 6,910 3,345 8,833 13,171 30,153 Held under repurchase agreements 1 454 454 Total U.S. government securities 235.293 14,252 80,711 6,658 13,566 18,234 10,950 28,510 6,910 3,345 8,833 13,171 30,153 Total loans and securities 243.306 14,686 83,151 6,907 13,973 18,826 11,294 29,394 7,189 3,462 9,165 14,191 31,068 Items in process of collection 9,938 528 1,454 577 322 648 885 934 566 487 991 722 1,824 Bank premises 745 91 32 46 32 123 59 98 20 24 47 22 151 Other assets 3 17,948 603 4.235 621 808 897 1,079 4,272 409 376 564 2,115 1,969 Interdistrict settlement account -0- - 134 + 5,999 + 247 - 537 + 1,679 - 252 - 2,405 + 632 + 524 + 584 - 3,354 - 2,983 TOTAL ASSETS 288,439 16,791 99,686 8,980 15,588 23,615 13,894 34,393 9.374 5,119 12,089 14,710 34,200 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 $ 2,043 million was outstanding at the end of the latest statement week. 2 Net of $ 3,569 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 615 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 $ 106 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 December 21, 1988 Millions of dollars ___ Kansas * San Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City 1 Dallas Francisco LIABILITIES Federal Reserve notes 227,448 14,247 77,742 6,504 13,588 20,039 8,365 29,530 7,783 4,063 9,754 11,550 24,283 Deposits: Depository institutions 34,410 1,741 8,134 1,732 1,247 2,484 4,132 3,099 911 437 1,118 2,005 7,370 U.S. Treasury—general account 10,156 — 10,156 — — — — — — — — — — Foreign—official accounts 201 5 91 7 8 9 13 19 4 5 6 13 21 Other 318 1 160 2 1 23 3 116 1 1 2 3 5 Total deposits 45,085 1,747 18,541 1,741 1,256 2,516 4,148 3,234 916 443 1,126 2,021 7,396 Deferred credit items 8,233 438 1,085 426 319 554 827 665 461 427 909 609 1,513 Other liabilities and accrued dividends 1 3,032 184 1,047 91 173 231 144 370 86 46 114 167 379 TOTAL LIABILITIES 283,798 16,616 98,415 8,762 15,336 23,340 13,484 33,799 9,246 4,979 11,903 14,347 33,571 CAPITAL ACCOUNTS Capital paid in 2,111 75 565 103 115 123 196 273 59 67 87 157 291 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 483 32 165 18 24 38 33 60 11 10 14 31 47 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 288,439 16,791 99,686 8,980 15,588 23,615 13,894 34,393 9,374 5,119 12,089 14,710 34,200 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 272,580 16,997 84,491 9,991 16,243 23,742 12,325 33,231 9,492 4,929 12,283 14,655 34,201 Less-Held by F.R. Banks 45,132 2,750 6,749 3,487 2,655 3,703 3,960 3.701 1,709 866 2,529 3,105 9,918 F.R. notes, net 227,448 14,247 77,742 6,504 13,588 20,039 8,365 29,530 7,783 4,063 9,754 11,550 24,283 Collateral held against F.R. notes: Gold certificate account 11,060 Special Drawing Rights certif. ace 5,018 Other eligible assets -0- U.S. govt, and agency securities 211,370 Total collateral 227,448 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