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FEDERAL RESERVE '***u5&y 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 Federal Agency obligations-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 May 4, 1978 Averages of daily figures Week ended Change from week ended Wednesday May 3, April 26, May 4, May 3, 1978 1978 1977 1978 (In millions of dollars) 1/ 102,844 + + 616 732 + 193 + + 852 20 250 + 219 - 101 527 1,665 + + 856 11 +1,450 + 41 2,836 73 +1,018 + 171 +2,715 92 5,540 3,152 126,141 11,718 1,250 11,520 150,629 956 -- 7,929 231 — 60 4,223 3,168 121,266 11,718 1,250 11,517 145,751 103,398 400 8,118 471 730 4,008 117,126 +5,453 -2,197 + 5 +2,720 +5,876 + 82 + 50 + 504 +6,512 + 147 + 12 +1,797 + 132 42 + 214 +2,261 +9,165 42 -5,344 + 175 + 138 + 581 +4,674 --- 2/102,514 2,842 7,929 864 „_ 464 65 103,954 400 10,247 468 712 3,632 119,413 Member bank reserves: With Federal Reserve Banks 28,626 + 459 +1,840 31,216 Currency and coin 9,245 + 448 + 353 9,245 Total reserves held 4/ 37,952 + 906 +2,121 40,542 Required reserves ~~ 37,607 + 596 +2,078 37,607 Excess reserves 4/ 345 + 310 + 43 2,935 NOTE: A net of $12 million of deficit reserves were eligible to be carried forward from the week ended April 26, into the week ending May 3. On May 3, 1978, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign official and international accounts were $85,185 million, a decrease of $1,405 million for the week. 17 Net of $1,308 million, daily average, matched sale-purchase transactions outstanding during the latest statement week, of which $1,308 million was with foreign official and international accounts. Includes securities loaned—fully secured by U.S. Government securities. 2/ Net of $1,637 million matched sale-purchase transactions outstanding at the end of the latest statement week,of which $1,637 million was with foreign official and international accounts. Includes $363 million secu:ities loanedfully secured by U.S. Government securities. 3/ Includes $14 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. 4/ Adjusted to include $81 million waivers of penalties for reserve deficiencies in accordance with Board policy effective November 19, 1975. * Estimated (Treasury's figures). CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Chang' s i n c e Change Wednesday April 26, T" May 4 , May 3, 1978 1978 1977 A S S E T S Gold certificate account 11,718 82 — + Special Drawing Rights certif. acct. 50 1,250 -+ Coin 311 13 3 + Loans 2,836 +1 ,072 +2 ,714 Acceptances—Bought outright 93 -— Held under repurchase agreements 464 + 248 - 460 Federal Agency obligations--Bought outright 7,929 -+ 852 Held under repurchase agreements 1/ 864 + 601 + 437 U.S. Government securities: Bought outright--Bills 40,311 + 157 + 414 Certificates Notes 52,510 +2,878 Bonds 9,693 +2,459 H.4.1(a> 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/ TOTAL ASSETS L I A B.I L I T I E S Federal Reserve n o t e s D e p o s i t s : Member b a n k - r e s e r v e s account U.S. T r e a s u r y - g e n e r a l account Foreign Other 4/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (2,203) (2,203) (2,203) (2,203) C A P I T A L ACCOUNTS C a p i t a l paid i n Surplus Other c a p i t a l accounts * 1/ 2/ 4/ 102,514 2t842 105,356 117,449 12,482 387 2,765 146,362 + 157 + 1,276 +1,433 +3,354 +1,371 + 1 + 168 +4,897 +5,751 -3,248 +2,503 +5,953 +2,153 + 20 70 +8,175 93,145 31,216 10,247 468 712 42,643 6,942 1,463 144,193 + 448 +3,147 +1,518 + 8 84 +4,589 + 107 + 176 +5,320 +8,650 +1,381 -3,452 + 209 + 168 -1,694 + 708 + 401 +8,065 1,049 1,029 91 .. -- 423 + + + 55 46 9 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 $1,637 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $363 million securities loaned-fully secured by U.S. Government securities. Includes assets denominated in foreign currencies. Includes $14 million of certain deposits of foreign-owned banking institutions voluntarily held with member banks and redeposited in full with Federal Reserve Banks. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES, May 3, 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 Over 10 years Total Acceptances 2,805 31 464 2,836 464 U.S. Government securities Holdings Weekly changes +2,327 8,054 -2,324 17,895 +1,137 31,462 + 293 29,904 10,132 -7,909 -+1,433 105,356 Federal Agency obligations Holdings Weekly changes 898 + 615 271 + 6 1,162 + 10 3,961 - 30 1,644 -857 — + 601 8,793 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON May 3, 1978 New York Philadelphia CleveRichmond land Atlanta (In millions of dollars) St. Louis Minneapolis 1,763 198 466 53 231 25 425 44 509 48 1,300 149 27 23 21 10 46 14 41 219 205 599 95 24 119 219 157 Total Boston 11,718 1,250 560 62 3,453 313 598 74 921 107 974 113 518 64 311 21 21 17 44 26 2,836 167 806 163 63 Chicago Kansas City San Dallas Francisco. ASSETS 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 U.S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright 2/ Held under repurchase agreements Total U.S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 3/ Interdistrict settlement account 464 464 1/ 1/ 7,929 864 369 1,929 864 397 660 649 359 1,264 324 190 325 412 1,051 40,311 1,876 9,806 2,019 3,355 3,300 1,824 6,429 1,646 967 1,652 2,093 5,344 52,510 9,693 2,444 451 12,774 2,358 2,630 485 4,370 807 4,300 794 2,375 438 8,375 1,546 2,144 396 1 ,260 233 2,151 397 102,514 2,842 105,356 117,449 4,771 5,134 8,532 8,394 4,637 16,350 4,186 2 ,460 4,200 -- -- -- -- — 4,771 5,307 24,938 2,842 27,780 31,843 6,961 1,285 4/ 13,590 5,322 5,134 5,694 8,532 9,255 8,394 9,262 4,637 5,201 16,350 18,213 4,186 4,605 2 ,460 2 ,674 4,200 4,644 5,322 5,953 13,590 14,798 14,685 387 2,765 -0- 461 106 108 - 117 1,642 10 525 -1,090 495 56 109 - 411 789 23 169 - 36 2,182 78 168 + 59 1,642 16 121 - 73 1,805 16 306 - 730 789 13 84 + 361 666 29 78 207 1,276 19 90 + 457 1,112 12 112 + 316 1,826 9 895 +1,471 -- — — -- 2,726 503 -- -- 20,489 8,076 6,392 7,516 7,001 11,272 21,594 3 ,506 12,862 6,632 6,508 36,717 148,565 TOTAL 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 $1,637 million matched sale-purchase transactions outstanding at the end of the latest statement week. Includes $363 million securities loaned-fully secured by U.S. Government securities. 3/ Includes assets denominated in foreign currencies. 4/ Includes securities loaned to other Reserve Banks. 1/ H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 3, 1978 Total Boston New York Philadelphia Cleveland 'Richmond Atlanta 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 93,145 4,871 23,895 4,810 7,905 8,471 3,510 15,441 4,014 1,895 3,605 4,162 10,566 31,216 10,247 468 712 42,643 9,145 778 410 9 947 397 12 1 1,357 313 1,734 818 23 2 2,577 501 1,635 638 15 20 2,308 1,869 2,102 568 21 56 2,747 1,031 4,231 544 42 5 4,822 811 1,025 765 9 1,197 312 7,780 2,349 1/ 263 606 10,998 876 1,799 461 764 183 8 1 956 558 1,375 912 11 3 2,301 956 1,839 1,282 16 8 3,145 580 7,006 1,381 39 10 8,436 877 1,463 146,396 58 6,438 386 36,155 59 6,539 103 11,086 100 12,748 67 7,355 191 21,265 50 6,324 31 3,440 48 6,910 66 7,953 304 20,183 1,049 1,029 91 32 32 6 274 267 21 44 44 5 90 87 9 55 55 4 79 78 4 160 157 12 33 32 3 32 31 3 43 43 5 60 58 5 147 145 14 148,565 6,508 36,717 6,632 11,272 12,862 7,516 21,594 6,392 3,506 7,001 8,076 20,489 4,558 16,863 4,489 2,218 4,354 5,141 12,345 518 64 181 3,795 4,558 1,762 198 369 14,534 16,863 466 53 95 3,875 4,489 231 25 24 1,938 2,218 425 44 107 3,778 4,354 509 48 215 4,369 5,141 1,300 149 95 10,801 12,345 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 9,078 8,502 5,429 25,698 104,242 5,567 Collateral for F.R. notes: 974 921 598 Gold certificate account 560 3,453 11,717 113 107 62 74 Special Drawing Rights certif. acct. 313 1,250 218 63 162 673 2,354 Eligible Paper 3/ 1 5 2 7,773 7,411 U.S. Government securities 88,921 -4,793 4,595 21,259 9,078 8,502 5,567 25,698 5,429 104,242 Total collateral 1/ After deducting $205 million participations of other Federal Reserve Banks 2/ Includes $14 million of certain deposits of foreign-owned banking institutions voluntarily Federal Reserve Banks. 3/ Includes securities borrowed from other Reserve Banks. held with member banks and redeposited in full with
@FedFRASER