H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE *mR—P*l Factors Affecting Bank Reserves and •••f«?f"- Condition Statement of F.R. Banks H.4.1 For immediate release March 2, 1972 The average of daily figures for total reserves of member banks declined $135 million in the latest statement week to $31,736 million. Excess reserves and member banks borrowings from Federal Reserve Banks increased, while required reserves declined. Major factors supplying reserves in the latest statement week were a reduction in Treasury deposits with Federal Reserve Banks and a contraseasonal rise in float. System Open Market operations absorbed $1,705 million of reserves net, on a weekly average basis. More than one-quarter of these reserves were absorbed through matched sale-purchase transactions. Excess reserves averaged $211 million and exceeded borrowings by $143 million compared to $162 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, March 1, Feb. 23, March 3, March 1, and related items 1972 1972 1971 1972 Reserve Bank credit: (Irl millL ions of dollars) U.S. Government securities- Bought outright--System account 67,893 -1, 649 +5 ,414 1/68,145 Held under repurchase agreements — — - 137 -- Federal Agency obligations- Bought outright 729 55 + 729 727 Held under repurchase agreements -- — - 11 -- Acceptances- Bought outright 64 1 + 14 63 Held under repurchase agreements — -- - 19 — Discounts and advances- Member bank borrowings 68 52 - 190 59 Other Float 3,576 + 521 + 853 2,938 Other F.R. assets 662 + 88 - 182 707 Total Reserve Bank credit 72,993 -1, 044 +6 ,473 72,639 Gold stock 9,588 — -1 ,144 9,588 Special Drawing Rights certif. acct. 400 -- — 400 Treasury currency outstanding 7,818 7 + 608 7,820 i 90,798 -1 ,039 +5 ,936 90,447 Currency in circulation 59,696 - 40 +3 ,977 59,794 Treasury cash holdings 369 - 3 - 100 374 Treasury deposits with F.R. Banks 1,339 - 676 + 415 1,128 Foreign deposits with F.R. Banks 219 + 52 + 81 137 Other deposits with F.R. Banks 590 - 2 - 178 575 Other F.R. liabilities and capital 2,269 -j_ 53 - 52 2,299 64,481 - 617 +4 ,141 64,307 Member bank reserves: With Federal Reserve Banks 26,317 - 422 +1 ,795 26,140 Currency and coin 5,419 + 287 + 399 5,419 Total reserves held 31,736 - 135 +2 ,194 31,559 Required reserves 31,525 - 168 +2 ,153 31,525 Excess reserves 211 J- 33 4- 41 34 NOTE: A net of $110 million of surplus reserves were eligible to be carried forward from the week ended February 23, into the week ending March 1. On March 1, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $29,336 million, an increase of $48 million for the week. 1/ Includes $68 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 March 1, Feb. 23», March 3, 1972 1972 1971 A S S E TS Gold certificate account 9,475 — • 989 Special Drawing Rights certif. accts. * 400 -- -- Cash (1,350) 325 1 ~l" 60 Discounts and advances 59 + £1 - 203 Acceptances-.-Bought outright 63 _- + 16 Held under repurchase agreements -.- mm - 44 Federal Agency obligatons--Bought outright Ill 11 + 727 Held under repurchase agreements -- -- - 29 U, S. Government securities: Bought outright--Bills 28,746 736 +3,052 Certificates Notes 36,034 mm -1-2,316 Bonds 3,365 -- + 287 Total bought outright 1/ 68,145 - 736 +5,655 Held under repurchase agreements -- -- - 248 Total U.S. Government securities 68,145 - 736 +5.407 Total loans and securities 68,994 - 706 +5,874 Cash items in process of collection (3,330) 11,268 + 448 + 248 Bank premises 154 + 1 + 21 Other assets 2/ 553 + 65 - 181 TOTAL ASSETS (4,680) 91i169 - 191 +5.033 Federal Reserve notes (1,350) 52,560 116 +3,409 Deposits: Member bank--reserves account 26,060 - 252 +1,405 U, S. Treasurer--general account 1,128 - 11 + 168 Foreign 137 - 41 + 23 Other 575 - 15 - 165 Total deposits 27,900 - 319 +1,431 Deferred availability cash items (3,330) 8,410 + 181 + 249 Other liabilities and accrued dividends 525 + 2 - 29 TOTAL LIABILITIES (4,680) 89,395 — 252 +5,060 C A P I T A. L A C C O U N TS Capital paid in ~ 755 «- 3 + 43 Surplus 742 -- + 40 Other capital accounts 277 + 58 - 110 Contingent liability on acceptances purchased for foreign correspondents 266 * Figures in parentheses are the eliminations made in the consolidating process JL/ Includes $68 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 1, 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 58 22 3,501 -838 -- -11 16 days to 90 days 1 41 16,434 -142 6 - 1 91 days to 1 year — — 15,085 +244 186 +11 Over 1 year to 5 years -- — 26,318 — 366 -10 Over 5 years to 10 years — -- 5,647 -- 99 -- Over 10 years -- — 1,160 — 70 -- Total 59 63 68,145 -736 727 -11 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.Ub) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 1, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Da Has Francisco (In millions of dollars) A S S E TS Gold certificate account 9,475 319 2,484 350 710 788 305 2,056 392 136 393 376 1,166 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,350 159 268 122 77 87 252 75 26 25 37 68 154 Other cash 325 10 27 11 38 42 37 40 19 10 35 17 39 Discounts and advances 59 41 1 -- -- 1 2 11 1 2 -- -- Acceptances: Bought outright 63 -- 63 -- -- -- -- -- -- -- -- -- Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations— Bought outright j 727 34 184 39 55 54 38 118 27 14 30 33 101 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- "" U.S. Government securities: Bought outright-- Bills 28,746 1,345 7,269 1,525 2,195 2,146 1,515 4,677 1,060 554 1,176 1 ,302 3,982 Certificates: Special Other -- -- -- -- -- -- -- -- -- -- -- -- -- Notes 36,034 1,686 9,112 1,911 2,752 2,690 1,899 5,863 1,329 695 1,475 1 ,631 4,991 Bonds 3,365 157 851 178 257 251 178 548 124 65 138 152 466 Total bought outright 1/ 68,145 3,188 17,232 3,614 5,204 5,087 3,592 11,088 2,513 1,314 2,789 T ,085 9,439 Held under repurchaae agreements -- -- -- -- -- -- -- -- -- — -- -- -- Total U.S. Government securities 68,145 3,188 17,232 3,614 5,204 5,087 3,592 11,088 2,513 1,314 2,789 ~T, 085 9,439 Total loans and securities 68,994 3,263 17,480 3,653 5,259 5,142 3,632 11,217 2,540 1,329 2,821 3 ,118 9,540 Cash items in process of collection 14,598 816 2,666 768 1,061 1,064 1,550 2,425 791 586 946 947 978 Bank premises 154 2 8 3 25 13 16 17 15 21 17 9 8 Other assets 2/ 553 49 124 35 39 37 25 76 17 12 20 39 80 TOTAL ASSETS 95,849 4,641 23,150 4,965 7,242 7,209 5,839 15,976 3,815 2,126 4,284 4 ,588 12,014 1/ Includes $68 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2_l 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 MARCH 1, 1972 San New Phila Cleve Rich St. Minne Kansas 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 53,910 2,881 13,296 3,152 4,378 4,793 2,665 9,318 2,090 906 2,017 2,077 6,337 Deposits: Member bank reserves 20,060 847 6,767 989 1,607 1,271 1,676 4,054 920 636 1,239 1,554 4,500 U. S. Treasurer--general account 1,128 74 169 66 93 67 59 142 63 53 108 84 150 Foreign 137 6 1/ 45 6 11 6 9 19 4 3 5 7 16 Other 575 * 506 8 — 24 3 3 2 1 3 4 21 Total deposits 27,900 927 7,487 1,069 1,711 1,368 1,747 4,218 989 693 1,355 1,649 4,687 Deferred availability cash items 11,740 730 1,777 626 953 911 1,284 2,080 657 476 815 745 686 Other liabilities and accrued dividends 525 25 131 26 41 39 28 86 19 12 22 24 72 TOTAL LIABILITIES 94,075 4,563 22,691 4,873 7,083 7,111 5,724 15,702 3,755 2,087 4,209 4,495 11,782 CAPITAL ACCOUNTS Capital paid in 755 33 195 39 69 39 52 115 25 17 32 41 98 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 277 11 71 15 22 21 13 48 10 5 11 11 39 TOTAL LIABILITIES AND CAPITAL ACCOUNTS _95,849 4,641 23,150 4,965 ^,242 7,209 5,839 15,976 3,815 2,126 4,284 4,588 12,014 Contingent liability on ace: eptances purchased for forei- gn correspondents 266 12 2/ 69 14 24 14 18 40 9 6 11 15 34 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 56,774 3,059 14,085 3,275 4,607 4,953 2,976 9,645 2,166 933 2,097 2,243 6,735 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 17 After deducting $ 92 million participations of other Federal Reserve Banks. * Less than $500,000. 27 After deducting $ 197 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis