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FEDERAL RESERVE r**5&&:' Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securities— Bought outright—System account Held under repurchase agreements Special Certificates Federal Agency oblications — Bought outright Held under repurchase agreements Acceptances — Bought outright Held under repurchase agreements Loans— Total member bank borrowing Includes seasonal borrowing of: Other borrowing Float Other F.R. assets Total Reserve Bank credit Gold Stock Special Drawing Rights certif. acct. 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 3/ Other F.R. liabilities and capital For immediate release March 9, 1978 Averages of daily figures Week ended Change from week ended Wednesday March 8, March 1, March 9, March 8, 1978 1977 1978* 1978* (In millions of dollars) 1/ 97,275 354 -444 + 18 +3,082 + 354 2/ 96,165 7,982 39 +1 ,215 + 39 7,982 - 29 27 - 55 _ 177 + 27 396 47 + 6 - 12 + + 376 36 783 46 4,834 1,973 112,879 11,718 1,250 11,447 137,294 +239 -174 -439 — — + 14 -425 +1 ,736 - 680 +5 ,970 + 67 + 50 + 494 +6,581 5,720 1,995 112,645 11,718 1,250 11,457 137,070 101,463 400 4,278 330 637 3,603 110,710 +302 — +210 - 20 -225 -274 - 8 +9,190 - 109 -4,418 + 74 66 + 605 +5,275 102,051 400 4,583 303 681 3,759 111,777 Member bank reserves: With Federal Reserve Banks 26,584 -419 +1,306 25,294 Currency and coin 9,103 + 36 + 922 9,103 Total reserves held 4/ 35,766 -383 +2,159 34,476 Required reserves 35,393 -604 +2,059 35,393 Excess reserves 4/ 373 +221 + 100 917 NOTE A net of $76 million of surplus reserves were eligible to be carried forward from the week ended March 1, into the week ending March 8. On March 8, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts" were $84,692 million, an increase of $1,170 million for the week. 1/ Net of $2,400 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,836 million was with foreign official and international accounts. Includes securities loaned— fully secured by U.S. Government securities. 2/ Net of $3,710 million matched sale-purchase transactions, outstanding at the end of the latest statement week of which $1,565 million was with foreign official and international accounts. Includes $202 million securities loaned—fully secured by U.S. Government securities. 3/ Includes $17 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. Adjusted to include $79 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Philadelphia District). Estimated (Treasury's figures). H.4.1(a> CON$OLIDATED STATEMENT Vt UUNDITJLUN Ut ALL i-iSDKKAL K&SERVE BANKS (In millions of dollars) ASSET'S Gold certificate account Special Drawing Rights certif. acct. Coin Loans Acceptances—Bought outright Held under repurchase agreements Federal Agency obligations—Bought outright Held under repurchase agreements 1/ U.S. Government securities^ Bought outright—Bills Certificates Notes Bonds Total bought outright 2/ Held under repurchase agreements \J Total U.S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets J/ TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes Deposits: Member bank-reserves account U.S. Treasury—general account Foreign Other V Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 2/ 3/ 4/ -— 7 ,982 6 ,251 Change since Mar. 1, Mar. 9, 1978 1977 — + 67 — + 50 6 - 42 42 + 750 -- 174 - 354 --+1 ,215 - 419 -l v 296 50,516 9,398 96,165 - 339 +1,596 4-2,239 (1,854) 96,165 104,930 11,775 383 CI,854) 132,000 -1,296 -1,630 -2,926 -3,741 + 869 + 2 ± 1 -2,875 91,325 25,294 4,583 303 681 30,861 6,055 1,519 129,760 + 603 -3,457 + 949 66 - 104 -2,678 - 544 + 123 -2,496 +8,425 + 149 -2,499 + 54 26 -2,322 + 656 + 573 +7,332 + 2 — - 381 + + + JLtil2 (1,854) (1,854) CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts 1/ Wednesday Mar. 8, 1978** 1 ,718 1 ,250 332 783 1,044 1,029 167 +3,496 +3,496 +5,287 +2,778 + 11 704 +7,447 55 46 14 Figures in parentheses are the eliminations made in the consolidating process. Estimated (Philadelphia District). 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 $3,710 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $202 million securities loaned-fully secured by U.S. Government securities. Includes assets denominated in foreign currencies. Includes $17 million of certain deposits of foreign-owaed banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES, March 8. 1978 (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 to 10 years Ovei 1G years Total 765 18 783 Acceptances U.S. Government securities Holdings Weekly jchanges 2,060 17,829 30,264 28,82/ 9,571 7,617 96,165 -2,476 »1,191 + 741 ----2,926 Federal Agency obligations Weekly Holdings changes 178 176 1,158 3,931 1,659 880 7,982 -410 + 36 - 22 - 23 — --419 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON March 8, 1978 New York Phila*delnhia CleveRichland J mond Atlanta (In millions of dollars) St. Louis Minneapolis Kansas City San Dallas Francisco Total Boston 11,718 1,250 541 62 3,492 313 631 74 934 107 982 113 560 64 1,736 198 469 53 225 25 393 44 456 48 1,299 149 Coin 332 21 22 17 45 30 32 26 21 10 46 16 46 Loans Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations— Bought outright Held under repurchase agreements U.S. Government securities: Bought outright-Bills Certificates Notes Bonds 783 51 556 17 12 11 20 27 7 13 18 46 5 --. -. -- --- — -- — -- --- -— --- -— -— 668 653 394 339 195 320 399 1,052 -- -- -- 3,035 2,964 Chicago A S S E T S Gold certificate account Special Drawing Rights certif. acct. --.1/ 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/ Interdistrict settlement account TOTAL ___. 7,982 373 -- -- 36,251 — -1,884 426 -8,556 1,934 1,279 -- -1,538 ,._ 887 1,790 5,807 '-- -- .- -- -- — -_ -- -- -- 50,516 9,398 2,360 439 11,923 2,218 2,695 501 4,228 787 4,130 768 2,494 464 8,092 1,506 2,144 399 1,237 230 1,694 2,354 _.. 1,454 -- -1,813 -- 4,779 — 2,027 377 2,526 470 3,858 4/ 12,678 4,809 6,660 L139 96,165 4,493 22,697 5,130 8,050 7,862 4,748 15,405 4,081 — -_ -- — -- -- — — 96,165 104,930 4,493 4,917 22,697 25,137 5,130 5,573 8,050 8,730 7,862 8,526 -4,748 5,162 15,405 16,711 4,081 4,427 2,354 2,562 3,858 4,196 4,809 5,254 12,678 13,735 13,629 383 1,612 -0- 363 107 78 - 215 1,623 10 362 + 998 334 56 87 - 511 588 23 116 - 525 1,795 75 122 + 152 1,628 14 120 - 650 1,863 16 214 - 733 689 13 86 - 356 669 29 51 - 204 1,148 19 70 + 101 962 12 82 - 88 1,967 9 224 +2,031 133,854 5,874 31,957 6,261 10,018 11,795 6,930 20,031 5,402 3,367 6,017 6,742 19,460 — ... -- * Estimated (Philadelphia District). JL/ 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 $3,710 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $202 million securities loaned--fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. ?/ Includes securities loaned to other reserve banks. -- — H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Philadelphia Cleveland Richmond Atlanta MARCH 8, 1978 Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (In millions o f dollars) L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U.S. Treasury—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accured dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 91,325 4,695 23,436 4,766 7,812 8,292 3,513 15,104 3,906 1,915 3,461 3,993 10,432 25,294 4,583 303 681 30,861 7,909 507 240 9 756 296 5,319 865 1/ 99 560 6,843 828 868 255 12 2 1,137 206 1,345 208 23 1 1,577 346 1,241 456 15 28 1,740 1,458 1,778 401 21 53 2,253 927 3,153 474 42 6 3,675 732 681 189 8 1 879 408 651 193 8 2 854 501 1,180 336 11 3 1,530 887 1,632 325 16 10 1,983 574 6,939 641 39 15 7,634 746 1,519 131,614 56 5,803 265 31,372 56 6,165 92 9,827 182 11,672 72 6,765 178 19,689 138 5,331 30 3,300 46 5,924 66 6,616 33 S 19,150 1,044 1,029 167 32 32 7 274 267 44 44 44 8 89 87 15 55 55 13 79 78 8 158 157 27 32 32 7 32 31 4 44 43 6 59 58 9 146 145 19 133,854 5,874 31,957 6,261 10,018 11,795 6,930 20,031 5,402 3,367 6,017 6,742 19,460 8,998 4,581 16,653 4,413 2,169 4,349 4,96* —127233 982 113 560 64 20 3,937 4,581 1,736 198 22 14,697 16,653 469 53 7 3,884 4,413 225 393 25 44 10 18 3/ 7 1,909 - 3,894 4,349 2,169 456 48 46 4,413 4,963 1,299 149 3 10,782 12,233 FEDERAL RESERVE AGENTS* ACCOUNTS F.R. notes outstanding 5,486 103,021 5,463 25,288 8,425 Collateral for F.R. notes: 934 631 Gold certificate account 11,718 541 3,492 107 74 1,250 62 Special Drawing Rights certif. acct. 313 12 17 750 534 Eligible Paper 4?764 7,372 U.S. Government securities 89,303 ^4,809 20,949 5,486 25,288 8,425 103,021 5,463 Total collateral 1/ After deducting $204 million participations of other Federal Reserve Banks If 1/ * 10 3/ -' 7,893 8,998 d e p S i t S of le5eri?\esLve1B^nks?f ^ ^ ° ^reign-owned banking institutions voluntarily held with member banks and redeposited in full with Includes securities borrowed from other reserve banks. Estimated (Philadelphia District),
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