H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and '••f*U.Rfc$1 Condition Statement of F.R. Banks H.4.1 For immediate release January 13, 1972 The average of daily figures for total reserves of member banks declined $36 million in the latest statement week to $32,836 million. Required reserves increased while excess reserves and member bank borrowings at the Federal Reserve Banks declined. A seasonal decline in currency in circulation and declines in both foreign deposits and other deposits with the Federal Reserve Banks were the major factors supplying reserves in the latest statement week. A decline in float and an increase in Treasury deposits with the Federal Reserve Banks more than offset these reserve gains. In addition, System Open Market operations absorbed $7 million reserves net, on a weekly average basis. Member bank borrowings averaged $17 million and were $49 million less than excess reserves compared to $352 million for the previous week. Averages of daily f igures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 12, Jan. 5, | Jan. 13, Jan. 12, * and related items 1972 1972 | 1971 1972 Reserve Bank credit: (Irl millions of dollars) 1/ J f U.S. Government securities-- Bought outright--System account 69,561 + 526 +7, 451 69,711 Held under repurchase agreements 460 - 589 + 460 119 Federal Agency obligations-- Bought outright 650 + 168 + 650 650 Held under repurchase agreements 41 - 51 + 41 38 Acceptances — Bought outright 78 _ 1 + 17 77 Held under repurchase agreements 66 - 60 + 66 57 Discounts and advances- Member bank borrowings 17 40 - 260 17 Other * Float 3,634 - 679 _ 84 3,104 Other F.R. assets 1,125 + 47 - 57 1,179 Total Reserve Bank credit 75,632 - 679 +8, 285 74,952 Gold stock 10,132 — - 600 10,132 Special Drawing Rights certif. acct. 400 — 400 Treasury currency outstanding 7,634 + 8 + 483 7,644 , 93,798 - 670 +8 ,168 1 93,128 Currency in circulation 60,689. - 337 +4, 035 60,656 Treasury cash holdings 473 + 11 + 43 479 Treasury deposits with F.R. Banks 2,760 + 212 +1, 721 2,108 Foreign deposits with F.R. Banks 171 - 127 + 13 146 Other deposits with F.R. Banks 727 - 135 + 16 707 Other F.R. liabilities and capital 2,155 + 3 + 94 2,173 66,975 - 373 +5 ,922 66,269 Member bank reserves: With Federal Reserve Banks 26,824 - 297 +2, 246 26,859 Currency and coin 6,012 + 261 + 348 6,012 Total reserves held 32,836 - 36 +2, 594 32,871 Required reserves 32,770 + 307 +2, 560 32,770 Excess reserves 66 - 343 + 34 1 101 NOTE: A net of $195 million of surplus reserves were eligible to be carried forward from the week ended January 5, into the week ending January 12. On January 12, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,057 million, an increase of $506 million for the week. 1/ Includes $46 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Digitized for FRASER 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) w ednesday Change sine: e Jan. 12, Jan. 5, Jan. 13, 1972 1972 1971 A S S E TS Gold certificate account 9,875 mm mm , 589 Special Drawing Rights certif. accts. * 400 — — Cash 1,170) 272 + 14 + 47 Discounts and advances 17 28 - 256 Acceptances--Bought outright 77 — + 14 Held under repurchase agreements 57 + 15 + 57 Federal Agency obligations--Bought outright 650 + 173 + 650 Held under repurchase agreements 38 20 + 38 U. S. Government securities: Bought outright—Bills 30,654 + 499 44,721 Certificates Notes 35,733 — +2,497 Bonds 3,324 -- + 383 Total bought outright 1/ 69,711 + 499 +7,601 Held under repurchase agreements 119 - 409 + 119 Total U.S. Government securities 69,830 + 90 +7,720 Total loans and securities 70,669 + 230 +8,223 Cash items in process of collection (3,066) 11,721 -1, 057 + 297 Bank premises 151 + 1 + 23 Other assets 2] 1,028 + 79 46 TOTAL ASSETS (4,236) 94,116 — 733 +7,955 Federal Reserve notes (1,170) 53,506 329 +3,727 Deposits: Member bank--reserves account 26,779 + 555 +2,303 U. S. Treasurer—general account 2,108 - 963 +1,521 Foreign 146 - 156 + 10 Other 3/ 707 - 22 12 Total deposits 29,740 - 586 +3,822 Deferred availability cash items (3,066) 8,697 + 117 + 331 Other liabilities and accrued dividends 576 -- + 13 TOTAL LIABILITIES (4,236) 92,519 - 798 +7,893 £ A P I T A L A C C O U N TS Capital paid in 743 „ + 38 Surplus 742 -- + 40 Other capital accounts 112 - 65 16 Contingent liability on acceptances purchased for foreign correspondents 254 Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $46 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. n Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 12. 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 16 76 3,907 -548 38 - 20 16 days to 90 days 1 58 15,483 +169 20 -- 91 days to 1 year -- -- 16,337 +469 193 + 11 Over 1 year to 5 years -- — 25,179 -- 289 +108 Over 5 years to 10 years -- — 7,776 — 88 + 27 Over 10 years 1,148 -.- 60 + 27 Total TT 134 69,830 + 90 688 +153 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 13, 1972 1 New Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Da Lias York delphia land mond Louis apolis City Francisco O! n millions of dollars) A S S E TS Gold certificate account 9,875 340 3,643 393 743 726 185 1,772 279 209 367 379 839 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,170 146 203 83 57 94 210 90 36 27 27 67 130 Other cash 272 9 24 11 31 39 32 29 17 7 27 14 32 Discounts and advances 17 2 - - n T o Acceptances: Bought outright i 77 77 -- -- -- -- Held under repurchase agreements ! 57 -- 57 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 650 31 158 36 52 48 36 106 25 12 26 30 90 Held under repurchase agreements | 38 -- 38 -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills I 30,654 1,481 7,426 1,698 2,440 2,293 1,681 5,013 1,177 556 1,242 1 ,413 4,234 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 Bonds 3,324 161 805 184 265 249 182 543 128 60 135 153 459 Total bought outright 1/ 69,711 3,369 16,887 3,862 5,550 5,215 3,823 11,399 2,677 1, 264 2,824 3 ,213 9,628 Held under repurchase agreements 119 -- 119 -- -- -- -- • .. -- -- -- -- -- Total U.S. Government securities 69,830 3,369 17,006 3,862 5,550 5,215 3,823 11,399 2,677 1, 264 2,824 3 ,213 9,628 Total loans and securities 70,669 3,400 17,338 3,899 5,602 5,263 3,859 11,512 2,704 1 ,276 2,853 3 ,243 9,720 Cash items in process of collection 14,787 829 2,351 786 1,026 1,139 1,823 2,376 846 700 957 961 993 Bank premises 151 2 8 3 25 13 16 16 14 20 17 9 8 Other assets 2/ 1,028 63 345 50 64 65 45 130 30 22 34 38 142 TOTAL ASSETS 98,352 4,812 24,005 5,248 7,581 7,375 6,192 15,995 3,941 2 ,268 4,297 4 ,725 11,913 1/ Includes $46 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2_l Includes assets denominated in foreign currencies and IMF gold deposited. * Less than $500,000. 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 12, 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 dollars0 L I A B I L I T I ES Federal Reserve notes 54,676 2,922 13,394 3,220 4,466 4,797 2,769 9,512 2,110 908 2,032 2,111 6,435 Deposits: Member bank reserves 26,779 916 7,547 1,130 1,837 1,319 1,649 3,898 960 677 1,192 1,564 4,090 U. S. Treasurer--general account 2,108 132 232 138 199 183 102 213 89 134 175 172 339 Foreign 146 6 1/ 42 7 13 7 10 21 5 3 6 8 18 Other 707 1 2/ 643 3 — 21 3 6 1 1 2 2 24 Total deposits 29,740 1,055 8,464 1,278 2,049 1,530 1,764 4,138 1,055 815 1,375 1,746 4,471 Deferred availability cash items 11,763 735 1,593 635 875 920 1,522 2,012 700 494 799 755 723 Other liabilities and accrued dividends 576 28 140 33 45 43 30 93 22 15 23 26 78 TOTAL LIABILITIES 96,755 4,740 23,591 5,166 7,435 7,290 6,085 15,755 3,887 2,232 4,229 4,638 11,707 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 112 5 28 6 10 8 6 18 4 2 4 5 16 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 98,352 4,812 24,005 5,248 7,581 7,375 6 J. 9 2^1 5,995 3,941_ 2,268 4,297 M 25 11.913 Contingent liability on ace: eptances purchased for foreign correspondents 254 11 3/ 66 13 23 13 17 38 9 6 11 14 33 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 57,278 3,099 13,994 3,339 4,667 4,947 3,033 9,855 2,195 950 2,116 2,273 6,810 Collateral for F. R. notes: Gold certificate account 2,470 175 500 300 350 285 -- 700 155 -- -- 5 -- U. S. Government securiti. es 56,075 3,000 13,800 3,150 4,400 4,720 3,100 9,300 2,130 970 2,175 2.330 7.000 Total collateral 58,545 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 $ 104 million participations of other Federal Reserve Banks. 7/ Includes IMF gold deposit. 3/ After deducting $ 188 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis