H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.-•'oVGow-*;. FEDERAL RESERVE •^WlWflff Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release February 17, 1972 The average of daily figures for total reserves of member banks increased $338 million in the latest statement week to $32,290 million. Required and excess reserves increased while member bank borrowings declined. The major factors absorbing reserves in the latest statement week were a seasonal rise in currency in circulation and declines in both gold stock and other Federal Reserve assets. Partially offsetting these reserve drains were declines in Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilies and capital. In addition, System Open Market operations provided $735 million of reserves, net, on a weekly average basis, through outright purchase of Treasury bills and coupon issues and through repurchase agreement transactions. Excess reserves averaged $325 million and exceeded member bank borrowings by $308 million compared to $37 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 16, Feb. 9, Feb 17, Feb. 16, and related items 1972 1972 1971 1972 Reserve Bank credit: (Irl millions of dollars) U.S. Government securities — Bought outright—System account 69,489 + 130 +7. 328 1/69,831 Held under repurchase agreements 406 + 406 - 281 1,229 Federal Agency obligations- Bought outright 772 + 129 + 772 792 Held under repurchase agreements 25 + 25 - 63 76 Acceptances- Bought outright 69 . 1 + 15 68 Held under repurchase agreements 46 + 46 - 6 75 Discounts and advances- Member bank borrowings 17 26 - 544 29 Other Float 2,720 - 91 + 88 2,944 Other F.R. assets 1,150 - 157 - 16 611 Total Reserve Bank credit 74,693 + 461 +7 ,292 75,655 Gold stock 9,977 - 155 - 755 9,588 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 7,793 + 22 + 604 7,802 92,863 + 327 +7 ,141 93,445 Currency in circulation 59,774 + 197 +3 ,828 59,848 Treasury cash holdings 472 - 30 + 7 374 Treasury deposits with F.R. Banks 2,915 - 157 +1 ,689 2,531 Foreign deposits with F.R. Banks 142 - 14 - 15 145 Other deposits with F.R. Banks 733 - 31 - 26 612 Other F.R. liabilities and capital. 2,209 - 173 + 112 2,198 66,244 - 209 +5 ,595 65,708 Member bank reserves: With Federal Reserve Banks 26,619 + 536 +1 ,546 27,737 Currency and coin 5,671 - 198 + 542 1 5,671 Total reserves held 32,290 + 338 +2 ,088 33,408 Required reserves 31,965 + 93 +2 .060 31,965 Excess reserves 325 + 245 + 28 1,443 NOTE: A net of $47 million of surplus reserves were eligible to be carried forward from the week ended February 9, into the week ending February 16. On February 16, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,698 million, a decrease of $219 million for the week. 1/ Includes $52 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 AL,LL FFEEDDEERRAALL RESERVE BANKS (In millions of dollairrss)) Wednesday Change since Feb. 16, Feb. 9, Feb. 17, 1972 1972 1971 h. £ £ E T s. 9.475 „ 400 - 989 Gold certificate account 400 — _- Special Drawing Rights certif. accts. (1,288) 322 + 3 + 66 Cash 29 - 146 -1,569 Discounts and advances 68 — + 14 Acceptances--Bought outright 75 + 75 87 Held under repurchase agreements 792 + 149 + 792 Federal Agency obligatons—Bought outright 76 + 76 - 121 Held under repurchase agreements U. S. Government securities: 30,575 + 479 +4,696 Bought outright—Bills Certificates 35,952 + 47 +2,453 Notes 3,304 47 + 402 Bonds 1/ 69,831 + 479 +7,551 Total bought outright 1,229 +1,229 - 755 Held under repurchase agreements 71,060 +1,708 +6,796 Total U.S. Government securities 72,100 +1,862 +5,825 Total loans and securities (3,470) 11,809 +1,693 + 31 Cash items in process of collection 153 -- + 21 Bank premises 458 - 746 - 249 Other assets 2J (4,758) 94,717 +2,412 +4,705 TOTAL ASSETS Federal Reserve notes (1,288) 52,629 + 3 +3,295 Deposits: Member bank—reserves account 27,657 +1,667 - 289 U. S. Treasurer—general account 2,531 - 250 +2,046 Foreign 145 — 27 Other 612 - 127 - 150 Total deposits 30,945 +1,290 +1,580 Deferred availability cash items (3,470) 8,945 +1,326 - 154 Other liabilities and accrued dividends 551 + 6 + 7 TOTAL LIABILITIES (4,758) 93,070 +2,625 +4,728 C AP I T A Ii A C C O U N TS Capital paid in 752 + 43 Surplus 742 -- + 40 Other capital accounts 153 - 213 - 106 Contingent liability on acceptances purchased for foreign correspondents 264 11 * Figures in parentheses are the eliminations made in the consolidating process. JL/ Includes $52 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 2J Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 16, 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 28 92 5,894 -L. 1,260 89 + 89 16 days to 90 days 1 51 16,697 + 2,232 15 - 13 91 days to 1 year — 15,477 - 483 218 + 40 Over 1 year to 5 years — 26,245 + 959 377 + 89 Over 5 years to 10 years — 5,595 - 2,260 99 + 8 Over 10 years --_ — 1,152 -- 70 + 12 Total 29 143 71,060 + 1,708 868 + 225 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 FEBRUARY 16, 1972 New Phila Cleve Rich St. Minne Kansas San Total ! Boston Atlanta Chicago Dallas York delphia land mond Louis apolis City Francisco (In millions of dollars) A S S E TS Gold certificate account 9,475 522 1,247 473 561 976 429 1,641 305 242 327 400 2,352 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,288 169 270 126 75 91 199 74 24 23 23 70 144 Other cash 322 11 29 12 37 43 37 36 19 9 33 17 39 Discounts and advances 29 4 i — 5 ' 9 6 -- -- Acceptances: Bought outright 68 68 -- -- -- -- — -- Held under repurchase agreements i 75 -- 75 — -- — -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 1 792 37 205 42 61 58 41 128 30 15 33 36 106 Held under repurchase agreements | 76 -- 76 — -- -- -- -- — — — — -- U.S. Government securities: Bought outright-- Bills | 30,575 1,419 7,928 1,612 2,353 2,216 1,599 4,935 1,157 594 1,264 1 ,396 t+ ,102 Certificates: Other Notes 35,952 1,668 9,322 1,896 2,767 2,606 1,879 5,803 1,361 699 1,486 1 ,642 4,823 Bonds 3,304 153 857 174 254 240 173 533 125 64 137 151 443 Total bought outright 1/ 69,831 3,240 18,107 3,682 5,374 5,062 3,651 11,271 2,643 r, 357 2,887 ~T, 189 9,368 Held under repurchase agreements 1,229 -- 1,229 — — — -- -- — — — — — Total U.S. Government securities 71,060 3,240 19,336 3,682 5,374 5,062 3,651 11,271 2,643 r, 357 2,887 ~T, 189 9,368 Total loans and securities 72,100 3,277 19,764 3,725 5,435 5,125 3,692 11,403 2,673 1 ,381 2,926 3 ,225 9,474 Cash items in process of collection 15,279 860 2,569 808 1,124 1,218 1,631 2,712 876 569 946 975 991 Bank premises 153 2 8 3 25 13 16 16 15 21 17 9 8 Other assets 2/ 458 43 115 26 31 30 24 62 14 10 16 21 66 TOTAL ASSETS 99,475 4,907 24,095 5,196 7,321 7,532 6,050 16,014 3,941 2 ,262 4,303 4 ,731 13,123 \J Includes $52 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. *Less than $500,000. 2/ Includes assets denominated in foreign currencies. 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 16, 1972 New Phila Cleve Rich St. Minne Kans as San Total Eoston York delphia land mond Atlanta Chicago Lcuis apolis City Dallas Fran cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 53,917 2,873 13,262 3,154 4,388 4,786 2,685 9,341 2,089 905 2,010 2,081 6,343 Deposits: Member bank reserves 27,657 1,042 7,411 1,123 1,654 1,392 1,697 3,761 930 728 1,255 1,683 4,981 U. S. Treasurer—general account 2,531 110 457 138 95 158 139 236 122 97 143 69 767 Foreign 145 6 1/ 42 7 13 7 10 21 4 3 6 8 18 Other 612 1 557 1 2 16 3 5 2 2 2 21 Total deposits 30,945 1,159 8,467 1,269 1,764 1,573 1,849 4,023 1,058 828 1,406 1,762 5,787 Deferred availability cash items 12,415 776 1,790 661 978 1,046 1,379 2,309 718 480 795 777 70G Other liabilities and accrued dividends 551 26 152 27 41 38 28 87 21 12 22 24 73 TOTAL LIABILITIES 97,828 4,834 23,671 5,111 7,171 7,443 5,941 15,760 3,886 2,225 4,233 4,644 12,909 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 153 6 38 8 13 12 8 28 5 3 6 5 21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 99,475 4,907 24,095 5,196 7,321 7,532 6,050 16,014 3,941 2,262 4,303 4,731 13,123 Contingent liability on accept ances purchased for foreign correspondents j 264 i 12 2/ 69 14 24 14 18 39 2_ 6 11 14 34 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 56,745 3,060 14,029 3,291 4,615 4,942 2,987 9,687 2,164 934 2,095 2,230. 6,711 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. 2/ After deducting $ 195 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis