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FEDERAL RESERVE _^ Factors Affecting Reserves of Depository Institutions and Condition Statement of F.R. Banks H.4.1, For immediate release February 19, 1982 Reserves of depository institutions. Reserve Bank credit, and related items Reserve Bank credit: U.S. government securitiesBought outright—system account Held under repurchase agreements Federal agency obligationsBought outright Held under repurchase agreements AcceptancesBought outright Held under repurchase agreements Loans to depository institutions Includes: seasonal borrowing of extended credit of Float Other F.R. assets Total Reserve Bank credit Gold stock Special Drawing Rights certificate account Treasury currency outstanding Currency in circulation* Treasury cash holdings* Treasury deposits with F.R. Banks Foreign deposits with F.R, Banks Other deposits with F.R. Banks Required clearing balances Other F.R. liabilities and capital Averages of daily figures (millions of dollars) Change from week ended Wednesday Week ended, February 1 7 , February 1 7 , February 1 8 , February IG", 1982 IQft? 1Q81 1982 1 |2 125,197 2,345 9,046 95 396 1,908 134 227 2,539 9.622 151,146 11,151 3,568 13,709 179,574 141,190 464 4,568 321 489 152,639 ! + + 122 2,345 + + 7,849 2,345 126,025 4,328 + 7 95 + + 307 95 9,046 172 + + + -1- 396 244 20 2 679 46 2,468 + + 396 763 20 227 1,206 683 9,865 8 1,050 244 11,151 8,759 14 1,736 25 123 139 832 11,579 453 1,505 128 180 4,789 8,825 155,143 11,151 3,568 13,709 183,571 141,491 465 5,541 271 509 139 5.488 153,904 + + + + + + + + + 4 2,472 670 2 751 42 1 2 370 335 + + + + + + + + + + + + 427 29,668 + 2,139 26,937 Reserve balances with F.R. Banks 3 + 1,797 19,218 853 19,218 Total vault cash (estimated) 12,974 12,974 + 1,088 649 (a) Vault cash at institutions with required reserve balances 2,215 2,215 + 1,515 j 56 (b) Vault cash equal to required reserves at other institutions 4,029 806 4,029 148 (c) Surplus vault cash at other institutions4 + 1,270 46,163 + 1,278 48,894 Reserve balances + total vault cash 3 * 5 Reserve balances + total vault cash used to satisfy reserve 44,865 + 2,076 + 1,426 42,134 requirements 5, 6 + 1.697 + 926 41,457 41,457 Required reserves 7 + 379 I + 500 677 3,408 Excess reserve balances at F.R. Banks 5 ' 8 On February 1 7 , 1982 ( marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $ 9 3 , 6 4 1 million, a decrease of S 2 »383 million for the week. 1 Net of $ 1,719 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which a net of $ l,719million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2 Net of $ 1,330 million matched sale-purchase transactions outstanding at the end of the latest statement week, of which a net of $ 1,330 million was with foreign official and international accounts, includes $ 299 million securities loaned—fully secured by U.S. Government securities. 3 Exclude required clearing balances. 4 Total vault cash at institutions without required reserve balances less vault cash equal to their required reserves. 5 Adjusted to include $ 8 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19,1975. 6 Reserve balances with Federal Reserve Banks (which exclude required clearing balances) plus vault cash at institutions with required reserve balances plus vault cash equal to required reserves at other institutions. 7 8 * Beginning with the week ended December 23, 1981, reserves aggregates have been reduced by shifts of reservable liabilities to International Banking Facilities (IB&). On the basis of reports of liabilities transferred to IBFs by U.S. commercial banks and U.S. agencies and branches of foreign banks, it is estimated that the cumulative effect through the week of February 17, was to lower required reserves by $180 to $230 million. Reserve balances with Federal Reserve Banks (which exclude required clearing balances) plus vault cash used to satisfy reserve requirements less required reserves. (This measure of excess reserves is comparable to the old excess reserve concept published historically.) Estimated (Treasury's Figures). H.4.1 (a) CONSOLIDATED STATEMENT OF CONDITION OF A L L FEDERAL RESERVE BANKS Millions of dollars * Wednesday February ASSETS Gold certificate account Special Drawing Rights certif. acct. Coin Loans Acceptances- 1 7 , 1982 11,151 3,568 431 1,505 Held under repurchase aggreements Federal agency abligationsBought outright Held under repurchase agreements 1 U.S. government securities: Bought outright-Bills Notes Bonds Total bought outright 2 Held under repurchase agreements 1 Total U.S. government securities Total loans and securities Cash items in process of collection Bank premises Other assets 3 T O T A L ASSETS Change since Wednesday Wednesday F e b r u a r y 1 0 , 1982 F e b r u a r y 1 8 , 1981 — — - 778 + 8 1,050 48 630 453 + 453 + 453 9,046 172 + 172 __ + + 307 172 + + 842 311 311 842 4,328 5,170 5,017 4,277 + 3 47,646 60,289 18,090 126,025 4,328 130,353 141,529 13,669 505 8,320 179,173 + 2 + 1,001 8,298 LIABILITIES F e d e r a l Reserve n o t e s 128,677 + 259 Depository I n s t i t u t i o n s U.S. Treasury—general account Foreign—official accounts Other Total deposits Deferred availability cash items Other liabilities and accrued dividends 4 TOTAL LIABILITIES 29,807 5,541 271 509 36,128 8,880 2,610 176,295 + + 3,043 1,124 69 20 4,078 3,440 514 8,291 ( 3,254) ( 3,254) (9) (9) (3,245) (3,254) C A P I T A L ACCOUNTS Capital paid in Surplus Other capital accounts 1,291 1,278 309 + + + + + + + + + + + + 2 — 5 + 5,321 + 1,919 + 872 + 8,112 + 4,328 +12,440 +14,002 335 + 46 - 1,090 +13,617 + 8,373 + 1,907 + 1,812 + 30 + 145 + 3,894 + 348 + 799 +13,414 + + + 79 75 49 * 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 $1,330 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $299 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 $41 million in Treasury Bills maturing within 90 days. 4 Includes exchange-translation account reflecting the monthly revaluation at market exchange rates of foreign exchange commitments. MATURITY DISTRIBUTION OF LOANS A N D SECURITIES, FEBRUARY 17, 1982 Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements. Loans Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years t o 10 years Over 10 years Total 1,479 26 — — — — 1,505 Acceptances 453 — — — — 453 U.S. government securities Holdings | Weekly changes +5,360 10,609 23,596 +2,009 33,482 505 35,764 210 10,193 -1,559 16,709 + 75 130,353 +5,170 Federal agency obligations 1 Weekly changes Holdings +232 367 512 - 60 1,378 — 5,428 — 960 — 573 — +172 9,218 H.4.1 (b) S T A T E M E N T OF C O N D I T I O N OF EACH FEDERAL RESERVE BANK O N Millions of dollars FEBRUARY 1 7 , 1982 San Francisco Kansas City Dallas 189 40 534 180 628 234 1,083 405 17 67 35 181 34 82 73 74 Total Boston New York 11,151 3,568 1,017 189 3,160 1,072 531 143 805 243 1,147 326 436 85 1,171 528 450 123 431 1,505 25 44 25 145 24 102 41 449 52 110 50 29 26 168 29 54 453 -- 453 -- 9,046 172 385 2,634 172 324 -- -- -- -- -- -- -- -- -- 47,646 2,028 13,871 1,705 3,459 3,804 1,514 7,273 1,766 712 2,180 2,981 6,353 60,289 18,090 2,566 770 17,552 5,266 2,158 647 4,377 1,313 4,813 1,444 1,916 575 9,204 2,762 2,234 671 902 271 2,757 827 3,772 1,132 8,038 2,412 Total bought outright 2 Held under repurchase agreements 1 Total U.S. government securities 126,025 4,328 130,353 5,364 36,689 4,328 41,017 4,510 9,149 10,061 4,005 19,239 4,671 1,885 5,764 7,885 16,803 -57364 — 4,510 _9,"14 9 -10,061 _4,005 -19,239 -4,671 -1,885 — 5,764 -7,885 16,803 Total loans and securities Cash items in process of collection Bank premises Other assets 3 Interdistrict settlement account T O T A L ASSETS 141,529 16,923 505 8,320 -0182,427 5,793 647 98 236 + 222 8,227 44,421 2,238 23 2,544 +6,658 60,141 10,255 806 27 548 -1,931 10,794 10,893 3,412 101 464 + 190 16,585 4,321 2,172 34 517 -1,294 6,321 20,788 1,711 18 1,178 -1,560 23,860 5,060 798 14 246 -1,093 5,627 2,087 719 28 256 746 2,590 8,533 1,488 15 493 + 331 11,756 18,083 537 73 1,163 -1,144 20,273 ASSETS Gold certif cate account Special Drawing Rights certif. acct. Coin Loans Acceptances held under repurchase agreements Federal agency obligations: Bought outright Held under repurchase agreements 1 U.S. government securities: Bought o u t r i g h t - B i l l s Notes Bonds — Philadelphia 4,936 509 52 327 + 151 6,673 Cleveland — 657 Richmond — 722 Atlanta — 287 Chicago St. Louis -- -- 1,381 335 — Minneapolis — 135 -- — 6,359 1,886 22 348 + 216 9,580 1 Does not include U.S. government and federal agency securities resold under matched sale-purchase transactions t o foreign official and international accounts, of which $ " ° " million was outstanding at the end of the latest statement week. 2 Net of $ 1', 330 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $ 2 " million securities l o a n e d - f u l l y secured by U.S. government securities. 3 Includes assets denominated in foreign currencies, revalued monthly at market exchange rates. I n c l u d e s s p e c i a l i n v e s t m e n t a c c o u n t a t C h i c a g o o f $ 4 1 m i l l i o n i n T r e a s u r y B i l l s w i t h i n 90 d a y s . — 566 414 1,206 -- maturing H.4.1 (c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Millions of dollars Total LIABILITIES Federal Reserve notes Deposits: Depository I n s t i t u t i o n s U.S. Treasury -general account Foreign—official accounts Other Total deposits Deferred availability cash items Other liabilities and accrued dividends 1 T O T A L LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts T O T A L LIABILITIES A N D CAPITAL ACCOUNTS FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding Less - Held by F . R . Banks F.R. N o t e s , Net Collateral held against F.R. notes : Gold certificate account Special Drawing Rights certif. acct. Other e l i g i b l e a s s e t s U.S. govt, and agency securities Total collateral Boston February 17, 1982 New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Kansas City Dallas San Francisco 128,677 6,773 39,473 5,024 8,632 12,038 2,77.8 18,922 4,154 1,419 6,547 8,576 14,341 29,807 5,541 271 518 36,137 12,125 777 1,099 1,331 1,271 1,711 3,377 719 521 1,159 1,701 4,705 9 783 501 11,436 5,541 107 436 17,520 1,493 1,108 339 16 2 1,349 441 11 23 1,305 2,822 17 6 1,734 1,507 31 43 3,451 703 6 2 727 583 8 1 530 508 10 2 1,171 1,637 14 2 1,717 1,138 36 1 4,7^2 453 2.610 179,549 91 8,148 918 59,404 84 6,555 154 10,576 264 16,429 97 6,116 379 23,455 77 5,541 35 2,492 97 9,452 135 11,566 279 19,815 1,291 1,278 309 34 33 12 322 319 96 54 53 11 97 96 25 66 66 24 98 97 10 180 180 45 38 37 11 47 47 4 58 57 13 86 84 20 211 209 38 182,427 8,227 60,141 6,673 10,794 16,585 6,321 23,860 5,627 2,590 9,580 11,756 20,273 150,655 21.978 128,677 7,978 1.205 6,773 43,711 4,238 39,473 7,289 2,265 5,024 9,568 936 8,632 13,468 1.430 12,038 5,353 2,575 2,778 20,912 1,990 18,922 5,471 1.317 4,154 1,888 469 1,419 7,987 1,440 6,547 10,406 1,830 8,576 16,624 2,283 14,341 11,151 3,568 1,017 189 3,160 1,072 531 143 805 243 1,147 326 436 85 1,171 528 450 123 189 40 534 180 628 234 1,083 405 113.958 128,677 5,567 6,773 35,241 39.473 4.350 5,024 7,584 8.632 10.565 12.038 2,257 2.778 17,223 18.922 3,581 4.154 1,190 1,419 7.714 5,833 6 , 5 4 7 . _ ._8*£ZJ& 12.853 6 1 Includes exchange translation account reflecting the monthly revaluation at market Minneapolis exchange rates of f o r e i g n exchange commitments. 14.341
@FedFRASER