H.4.1 Factors Affecting Reserve Balances of Depository Institutions

lofcowL-. FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release January 20, 1972 The average of daily figures for total reserves of member banks increased $898 million in the latest statement week to $33,734 million. Required and excess reserves increased while member bank borrowings at Federal Reserve Banks were negligible, and about unchanged from the previous week. A seasonal decline in currency in circulation and a reduction in Treasury deposits with Federal Reserve Banks were the major factors providing reserves in the latest week. System Open Market operations provided $429 million of reserves, on a weekly average basis, primarily through the outright purchase of U.S. Government securities. Excess reserves averaged $279 million, and exceeded member bank borrowings by $266 million compared to $49 million for the previous week. Averages of daily figures Member bank reserves, Week ended Chang; e from week ended Wednesday Reserve Bank credit, Jan. 19, Jan. 12, Jan. 20, Jan. 19, and related items 1972 * 1972 1971 1972 * Reserve Bank credit: (Irl mil]. ions of dollars) U.S. Government securities- Bought outright—System account 69,910 + 349 +8 ,036 1/69,911 Held under repurchase agreements 547 + 87 + 464 859 Federal Agency obligations- Bought outright 650 -- + 650 650 Held under repurchase agreements 23 18 + 10 1 31 Acceptances- Bought outright 77 «. 1 + 14 77 Held under repurchase agreements 78 + 12 + 71 64 Discounts and .advances- Member bank borrowings 13 4 - 459 24 Other Float 3,414 - 220 _ 496 3,254 Other F.R. assets 1,179 + 54 - 43 1,207 Total Reserve Bank credit 75,891 + 259 +8 ,248 76,077 Gold stock 10,132 — - 600 10,132 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 7,649 + 15 + 494 7,653 94,071 + 273 +8 ,141 94,262 Currency in circulation 60,232 - 457 +4 ,133 60,100 Treasury cash holdings 486 + 13 + 46 506 Treasury deposits with F.R. Banks 2,515 - 245 +1 ,590 i 2,491 Foreign deposits with F.R. Banks 148 - 23 - 10 ! 127 Other deposits with F.R. Banks 737 + 10 + 19 778 Other F.R. liabilities and capital 2,210 + 55 + 90 2,230 66,327 - 648 +5 ,868 66,232 Member bank reserves: With Federal Reserve Banks 27,745 + 921 +2 ,275 28,031 Currency and coin 5,989 - 23 + 430 5,989 Total reserves held 33,734 + 898 +2., 705 34,020 Required reserves 33,455 + 685 +2 ,518 33,455 Excess reserves 279 + 213 + 187 565 NOTE: A net of $69 million of surplus reserves were eligible to be carried forward from the week ended January 12, into the week ending January 19. On January 19, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,219 million, an increase of $162 million for the week. 1/ Includes $46 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. * Estimated (San Francisco District). 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) Wednesday Change since Jan. 19, Jan. 12, Jan. 20, 1972 ** 1972 1971 A S S E TS Gold certificate account 9,875 - 589 Special Drawing Rights certif. accts. 400 — — Cash (1,340) 281 + 9 + 42 Discounts and advances 24 + 7 -1,498 Acceptances--Bought outright 77 — + 14 Held under repurchase agreements 64 7 + 15 Federal Agency obligatons—Bought outright 650 — + 650 Held under repurchase agreements 31 7 57 U. S. Government securities: Bought outright—Bills 30,655 +4,799 Certificates Notes 35,905 + 172 +2 ,669 Bonds 3,351 + 27 + 410 Total bought outright 1/ 69,911 + 200 +7, 878 Held under repurchase agreements 859 + 740 + 279 Total U.S. Government securities ,70,770 + 940 +8, 157 Total loans and securities 71,616 + 947 +7, 281 Cash items in process of collection (3,376) 11,809 + 83 + 455 Bank premises 152 + 1 + 23 Other assets 2/ 1,055 + 27 - 64 TOTAL ASSETS (4,716) 95,188 +1, 067 +7, 148 Federal Reserve notes (1,340) 52,976 - 530 +3,797 Deposits: Member bank—reserves account 27,951 +1, 167 +1,072 U. S. Treasurer—general account 2,491 + 383 +1,883 127 - 19 58 Foreign 778 + 71 + 65 Other 3/ 31,347 +1, 602 +2,962 Total deposits (3,376) 8,635 - 62 + 310 Deferred availability cash items 565 - 11 + 14 Other liabilities and accrued dividends TOTAL LIABILITIES (4,716) 93,523 + 999 +7,083 C A P I T AL A C C O U N TS Capital paid in 747 4 + 41 Surplus 742 -- + 40 Other capital accounts 176 L. 64 - 16 Contingent liability on acceptances purchased for foreign correspondents 253 * 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. 2/ Includes assets denominated in foreign currencies and IMF gold deposited. V Includes IMF gold deposit. ** Estimated (San Francisco District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 19. 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 Chlaannggee s Within 15 days 22 67 5,298 +1,391 16 days to 90 days 2 74 14,773 - 710 13 91 days to 1 year 16,406 + 69 193 Over 1 year to 5 years 25,286 + 107 289 Over 5 years to 10 years 7,855 + 79 91 + 3 Over 10 years zz. 1,152 + 4 58 - 2 Total 24 141 70,770 940 681 - 7 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 19, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Da lias York delphia land mond Louis apolis City Francisco* (In millions of dollars) A S S E TS Gold certificate account 9,875 218 3,293 315 599 741 250 1,854 439 339 393 386 1,048 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,340 164 241 105 71 107 238 94 41 30 25 76 148 Other cash 281 9 24 11 32 41 33 30 19 7 27 17 31 Discounts and advances 24 -- 5 i 3 6 5 i i Acceptances: Bought outright 77 -- 77 -- -- -- — -- -- -- -- — -- Held under repurchase agreements | 64 -- 64 -- -- -- -- — — -_ -- -- -- Federal Agency obligations-- Bought outright 650 31 158 36 52 48 36 106 25 12 26 30 90 Held under repurchase agreements 31 ! -- 31 — -- — — — — -- -- -- — U.S. Government securities: Bought outright-- Bills 30,655 1,481 7,426 1,699 2,440 2,293 1,682 5,012 1,177 556 1,242 1 ,413 4,234 Certificates: Special -- 1 -- -- — -- — -- — -- — -- -- -- Other Notes 35,905 1,735 8,698 1,989 2,858 2,687 1,969 5,871 1,379 651 1,454 1 ,655 4,959 Bonds 3,351 162 812 186 267 251 184 548 128 61 136 154 462 Total bought outright U 69,911 3,378 16,936 3,874 5,565 5,231 3,835 11,431 2,684 1,268 2,832 J, 222 9,655 Held under repurchase agreements 859 — 859 -- -- -- — -- -- — -- -- Total U.S. Government securities 70,770 3,378 17,795 3,874 5,565 5,231 3,835 11,431 2,684 1,268 2,832 3",2 22 9,655 Total loans and securities 71,616 j 3,409 18,130 3,911 5,617 5,279 3,871 11,540 2,715 1,281 2,863 3 ,253 9,747 Cash items in process of collection 15,185 ! 925 2,532 838 1,115 1,188 1,791 2,620 831 633 971 944 797 Bank premises 152 2 8 3 25 13 16 16 15 20 17 9 8 Other assets 2/ 1,055 66 362 51 69 68 48 140 32 18 37 40 124 TOTAL ASSETS 99,904 4,816 24,683 5,257 7,561 7,473 6,269 16,364 4,107 2,335 4,348 4 ,739 11,952 JL/ Includes $46 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. * Estimated. 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 19, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) Federal Reserve notes 54,316 2,897 13,324 3,197 4,435 4,790 2,721 9,447 2,096 905 2,016 2,096 6,392 Deposits: Member bank reserves 27,951 859 7,819 1,110 1,776 1,390 1,694 4,073 1,073 746 1,250 1,607 4,554 U. S. Treasurer--general account 2,491 140 416 129 200 144 165 305 182 165 175 186 284 Foreign 127 6 1/ 31 7 12 7 9 19 4 3 5 7 17 Other 778 1 2/ 716 3 17 4 6 3 1 2 4 21 Total deposits 31,347 1,006 8,982 1,249 1,988 1,558 1,872 4,403 1,262 915 1,432 1,804 4,876 Deferred availability cash items 12,011 810 1,805 695 942 993 1,536 2,169 671 466 807 723 394 Other liabilities and accrued dividends 565 28 143 29 45 41 J0_ 3£L _2X .12. _22_ 2JL. _L8_ TOTAL LIABILITIES 98,239 4,741 24,254 5,170 7,410 7,382 6,159 16,109 4,050 2,298 4,277 4,649 11,740 CAPITAL ACCOUNTS Capital paid in 747 33 193 39 68 39 51 114 25 17 32 41 95 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 176 8 43 10 15 14 9 30 7 _Z 8_ _22. TOTAL LIABILITIES AND CAPITAL ACCOUNTS 99,904 4,816 24,683 5,257 7,561 7,473 6,269 16,364 4,107 2,335 4.348 4.739 11 952 r Contingent liability on accept ances purchased for foreign correspondents 253 11 3/ 66 13 23 13 17 38 11 JJk. JU. FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 57,144 3,086 13,991 3,328 4,653 4,961 3,021 9,817 2,185 947 2,108 2,264 6,783 Collateral for F. R. notes: Gold certificate account 2,445 150 500 300 350 285 700 155 U. S. Government securities 56,075 3,000 13,800 3,150 4,400 4,720 3,100 9.300 2.130 _2Z0 2,175 2.330 7.000 Total collateral 58,520 3,150 14,300 3,450 4,750 5,005 3,100 10,000 2,285 970 2,175 2,335 7,000 1/ After deducting $ 96 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. II Aftpr deductine $187 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis