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 29, 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.. 2288,, 11998888 Dec . 21, 1988 Dec. 30, 1987 Dec. 28, 1988 Reserve Bank credit: 1 2 264,516 + 610 + 17,191 269,055 U.S. government securities- Bought outright—system account 232,881 - 1,599 + 14,177 233,562 Held under repurchase agreements 1,671 + 1,179 72 3,706 Federal agency obligations- Bought outright 7,010 - 8 545 6,967 Held under repurchase agreements 908 + 809 66 1,435 Acceptances- Bought outright — — — — Held under repurchase agreements — — — — Loans to depository institutions 1,362 + 30 + 607 1,603 Includes: seasonal borrowing of 146 + 19 + 46 153 extended credit of 924 - 88 + 640 863 Float 1,779 + 12 + 199 2,691 Other F.R. assets 18,905 + 187 + 2,892 19,091 Gold stock 11,060 - 1 19 11,060 Special Drawing Rights certificate account 5,018 — ~ 5,018 Treasury currency outstanding 18,787 4- 14 + 639 18,799 Total factors supplying reserve funds 299,381 + 624 + 17,811 303,932 Currency in circulation* 246,598 + 2,286 + 16,871 247,745 Treasury cash holdings* 397 - 1 55 390 Deposits, other than reserve balances, with F.R. Banks: Treasury 4,500 - 1,962 + 781 5,822 Foreign 183 - 87 9 216 Service-related balances and adjustments 3 1,849 + 60 420 1,594 Other 412 + 41 + 35 556 Other F.R. liabilities and capital 8,120 - 10 + 652 8,070 Total factors, other than reserve balances, absorbing reserve funds 262,060 + 328 + 17,856 264,393 Reserve balances with F.R. Banks4 37,321 + 296 45 39,539 On December 28, 1988 , marketable U.S. government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 232,926 million, a decrease of $ 2,672 million for the week. 1 Net of $ 5,127 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ 5,127 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. government securities. 2 Net of $ 5,291 million matched sale-purchase transactions outstanding at the end cf the latest statement week, of which a net of $ 5,291 million was with foreign official and international accounts. Includes $ 1,315 million securities loaned—fully secured U.S. government securities. 3 Consists of required clearing balances of $ 1,594 million and adjustments of $ 255 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 BANKS Millions of dollars Change since Wednesday Wednesday Wednesday December 28, 1988 December 21, 1988 December 30, 1987 ASSETS Gold certificate account 11,060 Special Drawing Rights certificate account 5,018 Coin 408 16 5 Loans 1,603 642 652 Acceptances- Held under repurchase agreements Federal agency obligations- 6,967 50 5J6 Bought outright 1,435 1,400 3M Held under repurchase agreements'! U.S. government securities: 112,782 1,278 + 5,448 Bought outright—Bills 90,850 + 7,877 Notes 29,930 + 1,683 Bonds 233,562 - 1,277 + 15,on Total bought outright? 3,706 + 3,252 - 12a Held under repurchase agreements1 237,268 + 1,975 + 14,88!) Total U.S. government securities 247,273 + 3,967 + 14,590 Total loans and securities (1,618) 11,136 + 2,126 + 3,162 Cash items in process of collection 746 + 1 + 42 Bank premises 18,345 + 386 + 2,795 Other assets 3 (1,618) 293,986 6,464 20,567 TOTAL ASSETS LIABILITIES Federal Reserve notes 229,744 2,296 16,654 Deposits: Depository institutions 41,133 + 6,723 - 437 U.S. Treasury—general account 5,822 - 4,334 + 1,049 Foreign—official accounts 216 + 15 + ' 9 Other 556 + 238 + 192 Total deposits 47,727 + 2,642 + 813 Deferred availability cash items Other liabilities and accrued dividends4 (1,618) 8,445 + 1,130 + 2,483 3,487 + 455 + 434 TOTAL LIABILITIES (1,618) 289,403 + 6,523 + 20,384 CAPITAL ACCOUNTS Capital paid in 2,113 + 2 + 68 Surplus 2,047 — + 174 Other capital accounts 423 - 61 - 59 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 $ -0- million was outstanding at the end of the latest statement week. Net of $ 5,291 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 1,315 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 $ 65 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 28, 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 1,592 — 12,562 - 594 1,605 + 1,322 16 days to 90 days 10 — 54,917 - 61 697 + 36 91 days to 1 year i — 74,986 + 2,630 1,492 + 9 Over 1 year to 5 years !. — 55,326 — 3,419 + 51 Over 5 years to 10 years — — 12,568 — 1,000 - 68 Over 10 years — 2266,,990099 — 118899 — Total . 1 1,602 ..««—— 223377,,226688 ++ 1,975 88,,440022 ++ 1,350 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 28, 1988 Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San City 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 408 21 14 30 27 61 38 46 29 12 31 30 69 Loans 1,603 12 54 98 2 48 169 47 92 15 110 862 94 Acceptances held under repurchase agreements Federal agency obligations: Bought outright 6,967 423 2,381 198 402 541 325 846 205 99 262 391 894 Held under repurchase agreements 1 1,435 1,435 U.S. government securities: Bought outright-Bills 112,782 6,845 38,544 3,197 6,515 8,757 5,259 13,692 3,318 1,607 4,242 6,325 14,481 Notes 90,850 5,514 31,049 2,576 5,248 7,053 4,236 11,030 2,673 1,294 3,417 5,095 11,665 Bonds 29,930 1,816 10,228 849 1,729 2,324 1,396 3,633 881 426 1,126 1,679 3,843 233,562 14,175 79,821 6,622 13,492 18,134 10,891 28,355 6,872 3,327 8,785 13,099 29,989 Total bought outright 2 Held under repurchase agreements * 3,706 3,706 Total U.S. government securities 237,268 14,175 83,527 6,622 13,492 18,134 10,891 28,355 6,872 3,327 8,785 13,099 29,989 Total loans and securities 247,273 14,610 87,397 6,918 13,896 18,723 11,385 29,248 7,169 3,441 9,157 14,352 30,977 Items in process of collection 12,754 615 1,765 596 547 828 788 1,372 1,202 590 1,525 1,015 1,911 Bank premises 746 91 32 46 32 123 59 98 20 24 47 23 151 Other assets 3 18,345 624 4,441 611 829 917 1,102 4,292 422 378 581 2,133 2,015 Interdistrict settlement account -0- + 1,358 + 2,104 + 806 - 301 + 1,820 + 408 - 1,779 + 419 + 750 + 308 - 2,964 - 2,929 TOTAL ASSETS 295,604 18,313 100,552 9,558 15,999 23,850 14,567 35,327 9,789 5,429 12,355 15,572 34,293 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 $ 5,291 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 1,315million 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 $ 65 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 28, 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 229,744 14,361 78,023 6,642 13,672 20,168 8,973 29,579 7,813 4,116 9,755 11,676 24,966 Deposits: Depository institutions 41.133 3,050 12.260 2,004 1,426 2,556 4,164 3,743 1,090 647 958 2,678 6,557 U.S. Treasury—general account 5,822 5,822 Foreign—official accounts 216 5 105 7 8 9 13 19 4 5 6 13 22 Other 556 2 424 2 8 22 5 81 1 1 3 3 4 Total deposits 47.727 3,057 18,611 2,013 1,442 2,587 4,182 3,843 1,095 653 967 2,694 6,583 Deferred credit items 10,063 532 1,279 594 452 575 847 919 661 472 1,331 686 1,715 Other liabilities and accrued dividends 1 3.487 192 1,391 91 182 243 156 394 93 49 117 177 402 TOTAL LIABILITIES 291.021 18,142 99,304 9,340 15,748 23,573 14,158 34,735 9,662 5,290 12,170 15,233 33,666 CAPITAL ACCOUNTS Capital paid in 2,113 75 566 103 115 123 196 273 58 67 87 159 291 Surplus 2,047 68 541 97 113 114 181 261 58 63 85 175 291 Other capital accounts 423 28 141 18 23 40 32 58 11 9 13 5 45 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 295,604 18,313 100,552 9,558 15,999 23,850 14,567 35,327 9,789 5,429 12,355 15,572 34,293 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 271,942 16,883 84,125 10,030 16,105 23,723 12,604 32,951 9,444 4,933 12,223 14,667 34,254 Less-Held by F.R. Banks 42,198 2,522 6,102 3,388 2,433 3,555 3,631 3,372 1,631 817 2,468 2,991 9,288 F.R. notes, net 229.744 1144,,336611 7788,,002233 66,,664422 1133,,667722 2200,,116688 88,,997733 2299,,557799 77,,881133 44,,111166 99,,775555 iiii,,667766 24,966 Collateral held against F.R. notes: Gold certificate account 11,060 Special Drawing Rights cert if. ace 5,018 Other eligible assets -0- U.S. govt, and agency securities 213,666 Total collateral 229,744 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