H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release February 10, 1972 The average of daily figures for total reserves of member banks declined $498 million in the latest statement week to $31,952 million. Required and excess reserves declined while member bank borrowings at Federal Reserve Banks increased. Several factors supplied a modest amount of reserves in the latest state ment week. A seasonal rise in currency in circulation, however, more than offset these reserve gains. In addition, System Open Market operations absorbed $368 million of reserves net, on a weekly average basis. Member bank borrowings averaged $43 million, slightly above the level of recent weeks and were $37 million less than excess reserves compared to $246 million for the previous week. Averages of daily figures Member bank reserves, Week ended Chang e from wee k ended Wednesday, Reserve Bank credit, Feb. 9, Feb . 2, Feb. 10, Feb. 9, and related items 1972 1972 1971 1972 Reserve Bank credit! (Irl mill ions of dol iars) U.S. Government securities-- Bought outright--System account 69,359 357 +7 ,637 1/69,352 Held under repurchase agreements -- -- - 44 -- Federal Agency obligations-- Bought outright 643 5 + 643 643 Held under repurchase agreements 3 Acceptances-- Bought outright 70 6 + 11 i 68 Held under repurchase agreements 5 Discounts and advances-- Member bank borrowings 43 25 204 175 Other Float 2,811 + 9 . 352 I 2,577 Other F.R. assets 1,307 + 28 + 23 1,357 Total Reserve Bank credit 74,232 - 307 +7 ,704 74,172 Gold stock 10,132 ... - 600 10,132 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,771 + 59 + 594 7,788 92,536 - 248 +7 ,699 92,492 Currency in circulation 59,577 + 182 4-3, 913 59,838 Treasury cash holdings 502 - 6 + 36 513 Treasury deposits with F.R. Banks 3,072 + 19 +1 ,909 2,781 Foreign deposits with F.R. Banks 156 - 10 + 9 1 145 Other deposits with F.R. Banks 764 + 9 - 7 739 Other F.R. liabilities and capital 2,382 + 64 + 82 2,405 66,453 + 259 +5 ,942 66,421 Member bank reserves: With Federal Reserve Banks 26,083 _ 506 -hi, 757 26,070 Currency and coin 5,869 + 8 + 435 5,869 Total reserves held 31,952 - 498 +2 ,192 31,939 Required reserves 31,872 - 314 +2 ,317 31,872 Excess reserves 80 - 184 - 125 67 NOTE: A net of $142 million of surplus reserves were eligible to be carried forward from the week ended February 2, into the week ending February 9. On February 9, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,917 million, an increase of $462 million for the week. JL/ Includes $56 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) Wednesday Change since Feb. 9, Feb. 2, Feb. 10, 1972 1972 1971 A S S E TS Gold certificate account 9,875 •a. — 589 Special Drawing Rights certif. accts. * 400 -- — Cash (1,323) 319 + 10 + 61 175 + 150 - 80 Discounts and advances Acceptances--Bought outright 68 5 + 14 Held under repurchase agreements Federal Agency obligatons—Bought outright 643 + 643 Held under repurchase agreements U. S. Government securities: Bought outright—Bills 30,096 200 +5,626 Certificates Notes 35,905 — +2,669 Bonds 3.351 -- + 410 Total bought outright 1/ 69,352 - 200 +8,705 Held under repurchase agreements — -- — Total U.S. Government securities 69,352 - 200 +8,705 Total loans and securities 70,238 - 55 +9,282 Cash items in process of collection (2,804) 10,116 - 730 + 305 Bank premises 153 + 1 + 21 Other assets 2/ 1,204 + 45 + 22 I: .• •- • TOTAL ASSETS (4,127) 92,305 - 729 +9^102 Federal Reserve notes (1,323) 52,626 + 280 +3,414 Deposits: Member bank--reserves account 25,990 - 66 +4,210 U. S. Treasurer—general account 2,781 - 392 +1,039 Foreign 145 - 27 + 16 Other 3/ 739 - 40 + 18 Total deposits 29,655 - 525 +5,283 Deferred availability cash items (2,804) 7,619 - 538 + 318 Other liabilities and accrued dividends 545 - 11 + 31 TOTAL LIABILITIES (4,127) 90,445 — 794 +9,046 £ A £ I 1 £ L A C C O U N TS Capital paid in 752 + 44 Surplus 742 -- + 40 Other capital accounts 366 - 65 28 Contingent liability on acceptances purchased for foreign correspondents 253 22 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $56 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. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 9, 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 173 20 4,634 +141 16 days to 90 days 2 48 14,465 -194 28 91 days to 1 year — 15,960 -147 178 Over 1 year to 5 years — 25,286 -- 288 Over 5 years to 10 years — 7,855 — 91 Over 10 years — — .Ju.1.52 — 58 Total 175 68 69,352 •200 643 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.HM STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 9, 1972 New Phila Cleve Rich St. Minne- Kansas San Total Boston Atlanta Chicago D alia s York delphia land mond Louis apolis City Francisco (1n millions of dollars) A S S E TS Gold certificate account 9,875 490 2,007 732 778 1,019 370 2,114 329 319 408 287 1,022 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,323 172 274 127 77 91 210 83 28 26 21 70 144 Other cash 319 11 29 12 37 43 36 35 19 9 32 17 39 Discounts and advances 175 -_ 155 I -- 5 8 — 1 /. -- 1 Acceptances: Bought outright 68 -- 68 — -- — — — — -- -- -- Held under repurchase agreements — — -- — -- — — -- — -- -- — -- Federal Agency obligations-- Bought outright 643 30 167 34 49 47 34 104 24 12 27 29 86 Held under repurchase agreements -- -- -- -- -- -- — -- -- -- -- — — U.S. Government securities: Bought outright-- Eills 30,096 1,396 7,804 1,587 2,316 2,181 1,574 4,858 1,139 585 1 ,245 1 ,374 4,037 Certificates: Other Notes 35,905 1,666 9,310 1,893 2,763 2,603 1,877 5,795 1,359 698 1 ,484 1 ,640 4,817 Bonds 3,351 156 869 177 258 243 175 541 127 65 138 153 449 Total bought outright \J 69,352 3,218 17,983 3,657 1 5,337 5,027 3,626 11,194 2,625 1,348 2 ,867 T 167 9,303 Held under repurchase agreements -- -- -- — — -- -- -- -- -- -- -- -- Total U.S. Government securities 69,352 3,218 17,983 3,657 5,337 5,027 3,626 11,194 2,625 1,348 2~, 867 3 ,167 9,303 Total loans and securities 70,238 3,248 18,373 3,692 5,386 5,079 3,660 11,306 2,649 1,361 2 ,898 3 ,196 9,390 Cash items in process of collection 12,920 753 2,122 687 883 1,007 1,511 2,137 718 508 823 866 905 Bank premises 153 2 8 3 25 13 16 16 15 21 17 9 8 Other assets 2/ 1,204 71 405 64 77 75 53 158 36 23 43 48 151 TOTAL ASSETS 96,432 4,770 23,311 5,340 7,296 7,363 5,878 15,919 3,809 2,274 4 ,257 4 ,507 11,708 lVlncludes $56 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. *Less than $500,000. 2/lncludes 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 FEBRUARY 9, 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 53,949 2,874 13,257 3,162 4,389 4,784 2,693 9,344 2,090 905 2,012 2,080 6,359 Deposits: Member bank reserves 25,990 980 6,747 1,200 1,639 1,300 1,680 4,013 926 630 1,248 1,513 4,114 U. S. Treasurer—general account 2,781 144 455 272 283 264 116 332 106 286 191 109 223 Foreign 145 6 1/ 42 7 13 7 9 21 5 3 6 8 18 Other 739 1 2/ 675 2 -- 20 4 9 1 1 3 2 21 Total deposits 29,655 1,131 7,919 1,481 1,935 1,591 1,809 4,375 1,038 920 1,448 1,632 4,376 Deferred availability cash items 10,423 655 1,516 572 763 844 1,229 1,825 598 397 696 674 654 Other liabilities and accrued dividends 545 26 141 27 42 39 28 88 20 12 23 24 75 TOTAL LIABILITIES 94,572 4,686 22,833 5,242 7,129 7,258 5,759 15,632 3,746 2,234 4,179 4,410 11,464 CAPITAL ACCOUNTS Capital paid in 752 33 193 39 69 39 51 115 25 17 32 41 98 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 366 17 92 21 30 28 18 61 13 6 14 15 51 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 96,432 4,770 23,311 5,340 7,296 7,363 5,878 15.919 3.809 2.274 4.257 4.507 11.708 Contingent liability on ace. eptances purchased for forei. gn correspondents 253 11 3/ 66 13 23 13 17 38 8 6 11 14 33 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 56,792 3,071 14,007 3,300 4,620 4,939 2,983 9,714 2,168 938 2,090 2,238 6,724 Collateral for F. R. notes: Gold certificate account 2,445 150 500 300 350 285 700 155 5 U. S. Government securities 56,025 3,000 13,800 3,150 4,400 4,720 3,100 9.300 2.080 970 2.175 2.330 7.000 Total collateral 58,470 3,150 14,300 3,450 4,750 5,005 3,100 10,000 2,235 970 2,175 2,335 7,000 1/ After deducting $ 103 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