H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and '•^rtf^--" Condition Statement of F.R. Banks H.4.1 For immediate release January 6, 1972 The average of daily figures for total reserves of member banks increased $921 million in the latest statement week to $32,872 million. Required reserves and excess reserves both increased, while member bank borrowings at the Federal Reserve Banks declined. Float and Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest week. Partially offsetting these reserve drains was a decline in currency in circulation. In addition, System Open Market operations provided over $1.1 billion of reserves, on a weekly average basis, through outright purchase of Treasury bills and coupon issues and through repurchase agreement transactions. Member bank borrowings averaged $57 million and were $352 million less than excess reserves compared to the revised figure of $142 million for the previous week. Averages o f daily figures Member bank reserves, Week ended Change from wee; k ended Wednesday, Reserve Bank credit, Jan. 5, * Dec . 29, Jan. 6, Jan. 5,^ and related items 1972 1971 1971 1972 Reserve Bank credit: (Irl mi llions of dollars) U.S. Government securities- Bought outright—System account 69,035 + 582 +6 ,944 1/ 69,212 Held under repurchase agreements 1,049 + 516 + 722 528 Federal Agency obligations- Bought outright 482 . 3 + 482 477 Held under repurchase agreements 92 + 49 + 33 58 Acceptances- Bought outright 79 + 1 + 21 77 Held under repurchase agreements 126 + 46 + 86 42 Discounts and .advances- Member bank borrowings 57 159 350 45 Other Float 4,320 _ 364 _ 73 4,330 Other F.R. assets 1,078 - 18 - 86 1,100 Total Reserve Bank credit 76,318 + 651 +7 ,780 75,869 Gold stock 10,132 -- - 600 10,132 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,626 - 8 + 478 7,627 94,476 + 644 +7 ,658 94,028 Currency in circulation 61,026 - 422 +4 ,005 60,993 Treasury cash holdings 462 + 14 + 32 469 Treasury deposits with F.R. Banks 2,548 + 212 +1 ,575 3,071 Foreign deposits with F.R. Banks 298 - 173 + 144 302 Other deposits with F.R. Banks 870 + 162 - 183 784 Other F.R. liabilities and capital 2,151 - 150 + 145 2,102 67,355 - 357 +5 ,718 67,721 Member bank reserves: With Federal Reserve Banks 27,121 +1 ,000 +1 ,940 26,307 Currency and coin 5,751 - 79 + 321 5,751 Total reserves held 32,872 + 921 +2 ,261 32,058 Required reserves 32,463 + 870 +2 ,428 32,463 Excess reserves 409 + 51 ^_ 167 - 405 NOTE: A net of $135 million of surplus reserves were eligible to be carried forward from the week ended December 29, 1971, into the week ending January 5, 1972. On January 5, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,551 million, an increase of $2 million for the week. \J Includes $47 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Digitize*d foEr sFtRiASmEaRt ed. (Atlanta District). http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Jan. 5, ** Dec. 29, Jan. 6, 1972 1971 1971 A S S E TS Gold certificate account 9,875 MflB - 589 * 400 — — Special Drawing Rights certif. accts. Cash (i ,094) 258 + 5 + 40 45 -1,293 - 243 Discounts and advances Acceptances--Bought outright 77 3 + 18 Held under repurchase agreements 42 - 141 51 Federal Agency obligatons—Bought outright 477 8 + 477 58 53 36 Held under repurchase agreements U. S. Government securities: Bought outright—Bills 30,155 + 421 +4,547 Certificates Notes 35,733 + 179 +2,497 Bonds 3,324 + 38 + 383 Total bought outright 1/ 69,212 + 638 +7,427 Held under repurchase agreements 528 -2,061 + 267 Total U.S. Government securities 69.740 -1,423 +7,694 Total loans and securities 70,439 -2,921 +7,859 Cash items in process of collection (3,429) 12,393 + 155 - 761 Bank premises 150 1 + 22 Other assets 2/ 950 13 81 TOTAL ASSETS (4,523) 94,465 •2,775 +6,490 L I A B IL I T I ES Federal Reserve notes (1,094) 53,836 - 492 +3,718 Deposits: Member bank--reserves account 26,227 -3,097 + 664 U. S. Treasurer--general account 3,071 +1,116 +1,966 Foreign 302 + 21 + 148 Other 3/ 784 + 30 + 61 Total deposits (5) 30,384 -1,930 +2,839 Deferred availability cash items (3,424) 8,143 - 93 - 137 Other liabilities and accrued dividends 61 TOTAL LIABILITIES (4,523) 92,933 •2,576 +6,421 £ ALI 1Lk i££2HNTS 743 + 3 + 41 Capital paid in 742 + 40 + 40 Surplus Other capital accounts 47 mm 242 - 12 Contingent liability on acceptances purchased for foreign correspondents 254 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $47 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2} Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. ** Estimated. (Atlanta District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 5, 1972 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts Accept U. S. Government Federal Agency and -ances securities obligations Advances Holdings Weekly Holdings Weekly changes Changes Within 15 days 43 To" 4,455 2T5BT -"5T -6T 16 days to 90 days 2 59 15,314 + 718 20 91 days to 1 year 15,868 + 233 182 Over 1 year to 5 years 25,179 + 79 181 Over 5 years to 10 years 7,776 + 112 61 Over 10 years zz. 1.148 + 19 33 Total 45 119 69,740 -1,423 535 •61 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 JANUARY 5, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 9,875 464 3,575 673 624 533 349 1,691 330 230 134 251 1,021 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,094 142 178 74 57 89 198 81 37 32 33 55 118 Other cash 258 8 22 10 27 38 31 27 17 8 26 14 30 Discounts and advances 45 32 1 i — -- i_ -- 2 6 -- 2 Acceptances: Bought outright 77 -- 77 -- -- -- -- -- — -- -- — — Held under repurchase agreements — 42 -- — -- — -- — — -- — — 42 Federal Agency obligations-- Bought outright 477 23 116 26 38 36 26 78 18 9 19 22 66 Held under repurchase agreements 58 -- 58 -- -- — — -- -- — — — -- U.S. Government securities: Bought outright-- Bills 30,155 1,457 7,306 1,671 2,400 2,256 1,654 4,931 1,157 547 1,221 1>3 90 4,165 Certificates: Other -- — -- -- -- -- -- -- -- -- -- -- -- Notes 35,733 1,727 8,656 1,980 2,845 2,673 1,960 5,843 1,372 648 1,447 1,647 4,935 3 Bonds 3,324 161 805 184 265 249 182 543 128 60 135 153 459 Total bought outright 1/ 69,212 3,345 16,767 3,835 5,510 5,178 3,796 11,317 2,657 1,255 2,803 3", 190 9,559 Held under repurchase agreements 528 -- 528 — -- -- -- -. -- .- -- -- -- Total U.S. Government securities 69,740 3,345 17,295 3,835 5,510 5,178 3,796 11.317 2,657 1,255 2,803 3"» 190 9,559 Total loans and securities 70,439 3,368 17,620 3,862 5,549 5,214 3,822 11,396 2,675 1,266 2,828 3 ,212 9,627 Cash items in process of collection 15,822 815 2,897 876 1,055 1,158 1,634 2,358 920 918 1,026 1,,1 47 1,018 Bank premises 150 2 8 3 24 13 16 16 15 19 17 9 8 Other assets 950 61 329 48 60 57 43 119 28 17 31_ 37 120 TOTAL ASSETS 2/ 98,988 4,883 24,722 5,569 7,429 7,138 6,115 15,758 4,037 2,497 4,110 4., 739 11,991 \J Includes $47 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks, 2/ Includes assets denominated in foreign currencies and IMF gold deposited. 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 JANUARY 5, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 54,930 2,928 13,462 3,236 4,477 4,808 2,792 9,558 2,117 914 2,036 2,124 6,478 Deposits: Member bank reserves 26,227 1,003 7,591 1,139 1,504 1,101 1,737 3,600 923 760 1,094 1,511 4,264 U. S. Treasurer—general account 3,071 174 732 253 295 200 119 320 197 220 84 206 271 Foreign 302 13 1/ 95 14 25 14 19 42 10 7 12 16 35 Other 789 — 2/673 2 — 11 66 6 1 1 2 7 20 Total deposits 30,389 1,190 9,091 1,408 1,824 1,326 1,941 3,968 1,131 988 1,192 1,740 4,590 Deferred availability cash items 11,567 667 1,627 815 943 883 1,248 1,911 716 548 795 765 649 Other liabilities and accrued dividends 570 29 144 31 45 41 31 92 21 12 21 26 77 TOTAL LIABILITIES 97,456 4,814 24,324 5,490 7,289 7,058 6,012 15,529 3,985 2,462 4,044 4,655 11,794 CAPITAL ACCOUNTS Capital paid in 743 33 193 38 68 39 51 111 25 17 32 41 95 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 47 2 12 3 4 3 2 7 2 1 2 2 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 98,988 4,883 24,722 5,569 7,429 7,138 6,115 15,758 4,037 2,497 4,110 4,739 11,991 7 Contingent liability on ace: eptances purchased for forei- gn correspondents -.254 12 3/ 67 13 23 13 17 38 8 6 11 14 32 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,099 14,036 3,351 4,681 4,956 3,038 9,888 2,206 945 2,124 2,270 6,831 Collateral for F. R. notes: Gold certificate account 175 500 300 350 485 700 155 5 U. S. Government securities 3,000 13,800 3,150 4,400 4,520 3,100 9,300 2,130 970 2,175 2,330 7,000 Total collateral 3,175 14,300 3,450 4,750 5,005 3,100 10,000 2,285 970 2,175 2,335 7,000 1/ After deducting $207 million participations of other Federal Reserve Banks. 7/ Includes IMF gold deposit. 3/ After deducting $ 187 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis