H.4.1 Factors Affecting Reserve Balances of Depository Institutions

of <--ow> FEDERAL RESERVE ftmm* Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release January 27, 1972 The average of daily figures for total reserves of member banks declined $1,091 million in the latest statement week to $32,643 million. Required reserves and excess reserves declined while member bank borrowings from Federal Reserve Banks were unchanged from the previous week. A seasonal decline in currency in circulation was the major factor supplying reserves in the latest week. This increase in reserves was more than offset by a seasonal decline in float and an increase in Treasury deposits held at Federal Reserve Banks. In addition, System Open Market operations drained a substantial amount of reserves through maturing repurchase agreements early in the week. Excess reserves averaged $239 million and exceeded member bank borrowings by $226 million compared to $266 million for the previous week. Averages of daily figur es Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 26, Jan. 19, Jan. 27, Jan. 26, and related items 1972 1972 1971 1972 Reserve Bank credit: (Irl millions oi: dollars) 1/ U.S. Government securities — Bought outright--System account 69,911 + 1 +8., 102 69,911 Held under repurchase agreements -- - 547 - 67 -- Federal Agency obligations- Bought outright 650 _- + 650 650 Held under repurchase agreements — 23 - 13 — Acceptances — Bought outright 76 1 +. 14 77 Held under repurchase agreements -- 78 - 3 — Discounts and advances- Member bank borrowings 13 — 341 19 Other Float 3,076 - 329 + 54 2,882 Other F.R. assets 1,228 + 47 - 28 1,261 Total Reserve Bank credit 74,954 - 930 +8., 368 74,800 Gold stock 10,132 — - 600 10,132 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,658 + 9 + 494 7,673 93,144 - 921 +8 ,261 93,005 Currency in circulation 59,663 - 562 +4 ,078 59,602 Treasury cash holdings 508 + 22 + 43 512 Treasury deposits with F.R. Banks 3,084 + 569 +1 ,900 2,862 Foreign deposits with F.R. Banks 160 + 12 + 1 146 Other deposits with F.R. Banks 724 13 - 13 716 Other F.R. liabilities and capital 2,259 + 49 + 90 2,279 66,398 + 77 +6 ,098 66,117 Member bank reserves: With Federal Reserve Banks 26,747 - 998 +2 ,164 26,888 Currency and coin 5,896 93 + 307 5,896 Total reserves held 32,643 -1,091 +2 ,471 32,784 Required reserves 32,404 -1,051 +2., 514 32,404 Excess reserves 239 - 40 - 43 380 NOTE: A net of $126 million of surplus reserves were eligible to be carried forward from the week ended January 19, into the week ending January 26. On January 26, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28, 390 million, an increase of $171 million for the week. 2/ Includes $38 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.Hb) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 26, 1972 H New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Franci SCO (1'. n millions of dollars) A S S E TS Gold certificate account 9,875 519 2,730 438 597 738 361 2,047 315 189 500 526 915 Special Drawing Rights certif. acct. 400 23 93 ' 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,486 176 267 128 83 110 253 103 46 31 24 82 183 Other cash 306 10 27 11 33 42 36 36 19 8 28 17 39 Discounts and advances 19 -- 3 * -- * -- 3 4 2 4 1 2 Acceptances: Bought outright 77 -- 77 — ~ — — — — — — — — Held under repurchase agreements — — — — — — — — — — — — — Federal Agency obligations- Bought outright 650 31 158 36 52 48 36 106 25 12 26 30 90 Held under repurchase agreements — — — — ~ — — — — — — — — U.S. Government securities: Bought outright-- Bills 30,655 1,481 7,426 1,698 2,440 2,293 1,682 5,013 1,177 556 1,242 1,413 4,234 Certificates: 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 1/ 69,911 3,378 16,936 3,873 5,565 5,231 3,835 11,432 2,684 1,268 2,832 3,222 9,655 —'-H Held under repurchase agreements — -- — -- — — — — -- — — — — i Total U.S. Government securities 69,911 3,378 16,936 3,873 5,565 5,231 3,835 11,432 2,684 1,268 ~T,832 ""17222 ~9,655 —— —n Total loans and securities 70,657 3,409 17,174 3,909 5,617 5,279 3,871 11,541 2,713 1,282 2,862 3,253 9,747 -j Cash items in process of collection 14,206 824 2,445 754 977 1,054 1,750 2,220 736 586 1,046 895 919 Bank premises 151 2 8 3 25 13 16 16 14 20 17 9 8 Other assets 2/ 1,110 68 367 57 72 68 49 145 34 19 40 . 41 150 TOTAL ASSETS 98,191 5,031 23,111 5,323 7,437 7,340 6,358 16,178 3,892 2,142 4,532 4,837 12,010 If Includes $38 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. *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 26, 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 i Federal Reserve notes I 53,976 2,877 13,261 3,173 4,405 4,779 • 2,683 9,386 2,088 901 2,004 2,079 6,340 Deposits: Member bank reserves 26,808 1,137 6,392 1,184 1,808 1,361 1,777 4,247 923 653 1,254 1,708 4,364 U. S. Treasurer—general account 2,862 182 408 234 191 184 209 276 187 133 303 227 328 Foreign 146 7 1/ 39 7 13 7 10 22 5 3 6 8 19 Other 716 * 2/ 656 1 1 18 4 3 — 1 2 8 22 Total deposits 30,532 1,326 7,495 1,426 2,013 1,570 2,000 4,548 1,115 790 1,565 1,951 4,733 Deferred availability cash items 11,404 723 1,777 603 819 856 1,532 1,890 609 402 868 689 636 Other liabilities and accrued dividends 546 27 133 30 45 40 30 88 21 11 22 25 74 TOTAL LIABILITIES 96,458 4,953 22,666 5,232 7,282 7,245 6,245 15,912 3,833 2,104 4,459 4,744 11,783 CAPITAL ACCOUNTS Capital paid in 751 33 193 39 69 39 51 114 25 17 32 41 98 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 240 11 59 14 18 18 12 41 9 4 9 11 34 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 98,191 5,031 23,111 5,323 7,437 7,340 _6i358_ ^6^178^ 3i892_ __2j142 4,532 4,837 12,010 = Contingent liability on ace. eptances purchased for forei. gn correspondents 252 11 3/ 66 13 23 13 17 38 8 6 11 14 32 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 14,002 3,317 4,638 4,958 3,006 9,784 2,177 945 2,107 2,255 6,776 Collateral for F. R. notes: Gold certificate account 500 300 350 285 700 155 5 U. S. Government securities 13,800 3,150 4,400 4,720 3,100 9.300 2,130 970 2.175 2,330 7.000 Total collateral 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 $ 107 million participations of other Federal Reserve Banks. 7/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 186 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis