H.4.1 Factors Affecting Reserve Balances of Depository Institutions

ov «..o^. FEDERAL RESERVE Factors Affecting Bank Reserves and •?f«S»V Condition Statement of F.R. Banks H.4.1 For immediate release March 9, 1972 The average of daily figures for total reserves of member banks declined $105 million in the latest statement week to $31,490 million. Excess reserves and member banks borrowings from Federal Reserve Banks increased, while required reserves declined. A somewhat greater than seasonal decline in float and an increase in currency in circulation were the major factors absorbing reserves in the latest statement week. Partially offsetting these reserve drains was a reduction in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations provided $150 million of reserves net, on a weekly average basis. Excess reserves averaged $167 million and exceeded borrowings by $64 million compared to the revised figure of $2 million for the previous week. Averages of daily figures Member bank reserves, Week ended Chang^e from week ended Wednesday, Reserve Bank credit, March 8, March I, March 1U, March 8, and related items 1972 1972 1971 1972 Reserve Bank credit: (IrI millions of dollars) U.S. Government securities-- Bought outright—System account 68,045 + 152 +5, 876 1/68,045 Held under repurchase agreements 33 Federal Agency obligations-- Bought outright 727 2 + 727 727 Held under repurchase agreements 4 Acceptances-- Bought outright 64 — + 16 63 Held under repurchase agreements 4 Discounts and advances-- Member bank borrowings 103 + 35 - 318 703 Other Float 2,922 _ 513 + 16 2,798 Other F.R. assets 707 + 45 - 122 749 Total Reserve Bank credit 72,569 - 283 +6, 155 73,085 Gold stock 9,588 — -1, 144 9,588 Special Drawing Rights certif. acct. 400 — 400 Treasury currency outstanding 7,834 + 16 + 611 7,842 90,391 - 266 +5 ,622 90,915 Currency in circulation 59,871 + ,175 +3, 871 60,215 Treasury cash holdings 376 + 7 - 91 382 Treasury deposits with F.R. Banks 1,031 - 308 - 13 1,081 Foreign deposits with F.R. Banks 139 - 80 + 3 150 Other deposits with F.R. Banks 587 - 3 - 145 548 Other F.R. liabilities and capital 2.337 + 68 - 42 2.360 64,342 - 139 +3, 583 64,736 Member bank reserves: With Federal Reserve Banks 26,049 _ 127 +2 ,038 26,179 Currency and coin 5,441 + 22 + 48 5.441 Total reserves held 31,490 - 105 +2 ,086 31,620 Required reserves 31,323 - 202 +2, 001 31,323 Excess reserves 167 + 97 + 85 297 NOTE: A net of $85 million of surplus reserves were eligible to be carried forward from the week ended March 1, into the week ending March 8. On March 8, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $29,532 million, an increase of $196 million for the week. 1/ Includes $24 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) We<i nesday Change sine e M<a rch 8, March 1, Marc h 10, 1972 1972 1971 A S S E TS Gold certificate account 9,475 M mm 989 Special Drawing Rights certif. accts. * 400 -• — Cash (1,206) 322 3 + 56 Discounts and advances 703 + 644 - 818 Acceptances--Bought outright 63 — + 16 Held under repurchase agreements — .- - 28 Federal Agency obligatons—Bought outright 727 -- + 727 Held under repurchase agreements -- -_ - 30 U. S. Government securities: Bought outright—Bills 28,646 100 +3,209 Certificates Notes 36,034 +2,316 Bonds 3,365 — + 287 Total bought outright 1/ 68,045 - 100 +5,812 Held under repurchase agreements - 232 Total U.S. Government securities 68,045 - 100 +5,580 Total loans and securities 69,538 + 544 +5,447 Cash items in process of collection (2,897) 10,716 - 488 + 838 Bank premises 157 + 3 + 24 Other assets 2/ 592 + 39 - 136 TOTAL ASSETS (4,103) 91,200 + 95 +5,240 Federal Reserve notes (1,206) 52,964 + 404 +3,453 Deposits: Member bank—reserves account 26,099 + 103 +1,550 U. S. Treasurer—general account 1,081 - 47 - 122 Foreign 150 + 13 + 16 Other 548 27 - 197 Total deposits 27,878 42 +1 ,247 Deferred availability cash items (2,897) 7,998 412 + 582 Other liabilities and accrued dividends 524 1 - 13 TOTAL LIABILITIES (4,103) 89,364 + 33 +5,269 £ A Z I 1 £ L A C C O U N TS Capital paid in 756 + 1 + 43 Surplus 742 — + 40 Other capital accounts 338 + 61 - 112 Contingent liability on acceptances purchased for foreign correspondents 263 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $24 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 8, 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 702 22 3,484 - 17 — — 16 days to 90 days 1 41 17,099 +665 42 +36 91 days to 1 year — — 14,337 -748 150 -36 Over 1 year to 5 years — — 26,318 — 366 — Over 5 years to 10 years — — 5,647 — 99 — Over 10 years 1,160 -- 70 — Total 703* 63 68,045 -100 727 T- 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 MARCH 8, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Da lias Francisco 0' .n millions of dollars) A S S E TS Gold certificate account 9,475 345 2,218 537 804 953 488 1,925 384 128 240 401 1,052 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,206 151 256 112 65 74 241 69 18 17 31 56 116 Other cash 322 9 27 10 38 41 35 41 20 10 35 16 40 Discounts and advances 703 699 * - 2 Acceptances: Bought outright 63 63 -- -- Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- _. Federal Agency obligations-- Bought outright 727 34 184 39 55 54 38 118 27 14 30 33 101 Held under repurchase agreements -- -- -- _. .- -- -- _- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 28,646 1,341 7,244 1,519 2 ,188 2,139 1,510 4,660 1,056 552 1,172 1 ,297 3,968 Certificates: 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 68,045 3,184 17,207 3,608 ~5", 197 5,080 3,587 11,071 2,509 1,312 2,785 3", 080 9,425 Held under repurchase agreements -- -- -- -- -- -- — -- -- -- -- -- -- Total U.S. Government securities 68,045 3,184 17,207 3,608 jf, 197 5,080 3,587 11,071 2,509 1,312 2,785 J ,080 9,425 ~ Total loans and securities 69,538 3,218 18,153 3,648 5 ,252 5,134 3,625 11,189 2,537 1,326 2,817 3 ,113 9,526 Cash items in process of collection 13,613 811 2,337 733 880 1,027 1,484 2,322 725 553 957 873 911 Bank premises 157 2 8 3 25 13 16 17 15 21 17 12 8 Other assets 2/ 592 53 142 41 41 42 27 83 19 13 23 24 84 TOTAL ASSETS 95,303 4,612 23,234 5,107 7 ,138 7,320 5,938 15,716 3,733 2,075 4,135 4 ,509 11,786 1/ Includes $24 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 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 MARCH 8, 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 54,170 2,888 13,332 3,161 4,391 4,820 2,685 9,371 2,109 912 2,031 2,089 6,381 Deposits: Member bank reserves 26,099 893 7,037 1,146 1,667 1,314 1,738 3,894 860 615 1,142 1,530 4,263 U. S. Treasurer—general account 1,081 28 152 47 107 167 90 108 57 46 72 71 136 Foreign 150 7 1/ 39 8 14 8 10 - 22 5 4 6 8 19 Other 548 * 487 2 — 24 4. 4 1 1 2 3 20 Total deposits 27,878 928 7,715 1,203 1,788 1,513 1,842 4,028 923 666 1,222 1,612 4,438 Deferred availability cash items 10,895 691 1,583 621 752 847 1,260 1,949 620 446 783 689 654 Other liabilities and accrued dividends 524 24 129 27 43 38 33 84 19 11 22 23 71 TOTAL LIABILITIES 93,467 4,531 22,759 5,012 6,974 7,218 5,820 15,432 3,671 2,035 4,058 4,413 11,544 CAPITAL ACCOUNTS Capital paid in 756 33 195 39 69 40 52 115 25 17 32 41 98 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 338 14 87 16 27 24 16 58 12 6 13 14 49 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 95,303 4,612 23,234 5,107 7,138 7,320 5,938 15,716 3,733 2,075 4,135 4,509 11,786 Contingent liability on acee ptances purchased for foreign correspondents 263 12 2/ 68 14 24 14 18 39 9 6 11 14 34 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 14,102 37274 47601 4,950 2,975 975315 2,176 "335 TJWT 2,236 T7TW 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 2,080 970 2,175 2,330 7,000 Total collateral 14,300 3,450 4,750 5,005 3,100 10,000 2,235 970 2,175 2,335 7,000 1./ After deducting $ 111 million participations of other Federal Reserve Banks, * Less than $500,000. 3/ After deducting $ 95 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis