H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.-i.es2i*4- FEDERAL RESERVE Factors Affecting Bank Reserves and ••'f*An&?y Condition Statement of F.R. Banks H.4.1 For immediate release March 16, 1972 The average of daily figures for total reserves of member banks increased $628 million in the latest statement week to $32,118 million. Required and excess reserves increased, while member bank borrowings from Federal Reserve Banks declined. A seasonal increase in currency in circulation was the major factor ab sorbing reserves in the latest statement week. Declines in Treasury deposits with Federal Reserve Banks and in other Federal Reserve liabilities and capital more than offset this reserve drain. In addition, System Open Market operations provided $371 million of reserves net, on a weekly average basis, primarily through repur chase agreements. Excess reserves averaged $405 million and exceeded borrowings by $391 million compared to $64 million for the previous week. Averages of daily JE igures Member bank reserves, Week ended Chang[ e from week ended Wednesday, Reserve Bank credit, March 15, Marc• h 8, March 17, March 15, and related items 1972 1972 1971 1972 Reserve Bank credit: (Irl mil]. ions of dollars) U.S. Government securities-- Bought outright--System account 68,051 + 6 +5,750 1/ 67,992 Held under repurchase agreements 288 + 288 - 349 — Federal Agency obligations-- Bought outright 762 + 35 + 762 810 Held under repurchase agreements 9 + 9 - 85 -- Acceptances-- Bought outright 64 -_ + 16 67 Held under repurchase agreements 33 33 - 37 -- Discounts and advances-- Mernber bank borrowings 14 89 • 276 28 Other -- -- -- -- Float 2,938 + 16 + 389 1 3,578 Other F.R. assets 749 + 42 - 130 790 Total Reserve Bank credit 72,908 + 339 +6,041 73,265 Gold stock 9,588 -- -1,144 9,588 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,848 + 14 + 618 7,855 90,743 + 352 +5,513 91,108 Currency in circulation 60,222 + 351 +3,922 60,392 Treasury cash holdings 377 + 1 86 382 Treasury deposits with F.R. Banks 754 - 277 + 207 851 Foreign deposits with F.R. Banks 171 + 32 + 30 184 Other deposits with F.R. Banks 596 + 9 - 146 620 Other F.R. liabilities and capital 2,169 - 168 + 30 2,146 64,288 - 54 +3,955 64,575 Member bank reserves: With Federal Reserve Banks 26,455 + 406 +1,558 26,533 Currency and coin 5,663 + 222 + 605 5.663 Total reserves held 32,118 + 628 +2,163 32,196 Required reserves 31,713 + 390 +2,023 31,713 Excess reserves 405 + 238 + 140 483 NOTE: A net of $70 million of surplus reserves were eligible to be carried forward from the week ended March 8, into the week ending March 15. On March 15, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,742 million, an increase of $1,210 million for the week. 1/ Includes $86 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 15, March 8, March 17, 1972 1972 1971 A S S E TS Gold certificate account 9,475 - 989 Special Drawing Rights certif. accts. 400 Cash 158) 322 + 53 Discounts and advances 28 - 675 539 Acceptances--Bought outright 67 + 4 17 Held under repurchase agreements 98 Federal Agency obligatons—Bought outright 810 <- 83 810 Held under repurchase agreements 96 U. S. Government securities: Bought outright--Bills 28,517 129 +3,080 Certificates Notes 36,076 + 42 +2,299 Bonds 3,399 + 34 + 312 Total bought outright 1/ 67,992 53 +5,691 Held under repurchase agreements - 657 Total U.S. Government securities 67,992 - 53 +5,034 Total loans and securities 68,897 - 641 +5,128 Cash items in process of collection (3,392) 12,557 +1,841 +1,198 Bank premises 159 + 2 + 25 Other assets 2/ (4,550) 631 + 39 - 156 TOTAL ASSETS 92,441 +1.241 +5.259 LLI A B I L IT IE S Federal Reserve notes (1,158) 53,128 + 164 +3,542 Deposits: Member bank--reserves account 26,453 + 354 + 782 U. S. Treasurer—general account 851 - 230 + 488 Foreign 184 + 34 + 50 Other 620 + 72 - 98 Total deposits 28,108 + 230 +1,222 Deferred availability cash items (3,392) 9,059 +1,061 + 452 Other liabilities and accrued dividends 505 19 20 TOTAL LIABILITIES (4,550) 90,800 +1,436 +5,196 C A P I T AL A C C O U N TS Capital paid in 756 •««• + 43 Surplus 742 — + 40 Other capital accounts 143 - 195 20 Contingent liability on acceptances purchased for foreign correspondents 263 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Includes $86 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 15, 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 26 16 3,492 + 8 ~ — 16 days to 90 days 2 51 17,208 +109 43 + 1 91 days to 1 year — — 14,092 -245 170 +20 Over 1 year to 5 years -- — 26,354 + 36 397 +31 Over 5 years to 10 years — — 5,652 + 5 116 +17 Over 10 years — — 1.194 + 34 84 +14 Total 28 67 67,992 - 53 810 +83 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 MARCH 15, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco 0 n millions of dollars) A S S E TS Gold certificate account 9,475 493 2,340 397 770 754 351 2,253 360 112 252 285 1,108 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 1,158 141 258 111 57 71 231 69 17 14 30 51 108 Other cash 322 10 26 10 37 41 35 42 20 9 35 15 42 Discounts and advances 28 _- 5 -- ^. _ - 15 I 4 3 Acceptances: Bought outright 67 -- 67 -- -- -- -- __ _ — _ __ — Held under repurchase agreements ! — — -- -- -- -- -- -._ _- _ _ _ „„ — —— Federal Agency obligations-- Bought outright 810 38 205 43 62 60 43 132 30 15 33 37 112 Held under repurchase agreements — -- -- -- -- _- -- -- -- _- _- „.. U.S. Government securities: Bought outright-- Bills 28,517 1,334 7,211 1,513 2,177 2,129 1,503 4,640 1,052 550 1,167 1 ,291 3,950 Certificates: Special Other -- -- -- -- -- -- -- .. -- __ -.» _ — _ _ Notes | 36,076 1,688 9,123 1,913 2,755 2,693 1,901 5,870 1,330 696 1,477 1 ,633 4,997 Bonds 3,399 159 859 180 260 254 179 553 125 66 139 154 471 Total bought outright 1/ 67,992 3,181 17,193 3,606 5,192 5,076 3,583 11,063 2,507 1, 312 2,783 3 ,078 9,418 Held under repurchase agreements -- -- -- -- -- -- -- -- __ _- -. «._ — Total U.S. Government securities 67,992 3,181 17,193 3,606 5,192 5,076 3,583 11,063 2,507 1, 312 2,783 3 ,078 9,418 Total loans and securities 68,897 3,219 17,470 3,649 5,254 5,136 3,641 11,196 2,541 1 ,327 2,819 3 ,115 9,530 Cash items in process of collection 15,949 918 2,788 805 1,190 1,280 1,813 2,589 881 586 985 1 072 1,042 Bank premises 1 159 2 8 3 26 13 16 17 15 22 17 12 8 Other assets 2/ 631 52 148 40 44 45 31 88 21 14 25 27 96 TOTAL ASSETS 96,991 4,858 23,131 5,038 7,411 7,376 6,140 16,324 3,870 2 ,091 4,178 591 11,983 _*• 1/ Includes $86 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 15, 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 dollars0 L I A B I L I T I ES Federal Reserve notes 54,286 2,896 13,346 3,169 4,401 4,811 2,708 9,405 2,118 918 2,040 2,093 6,381 Deposits: Member bank reserves 26,453 1,107 6,605 1,043 1,781 1,287 1,751 4,239 914 591 1,164 1,538 4,433 U. S. Treasurer~-general account 851 32 190 45 42 88 65 71 55 33 61 53 116 Foreign 184 7 1/ 62 9 15 9 11 24 6 4 7 9 21 Other 620 * 558 2 1 22 4 4 — 1 2 2 24 Total deposits 28,108 1,146 7,415 1,099 1,839 1,406 1,831 4,338 975 629 1,234 1,602 4,594 Deferred availability cash items 12,451 719 1,820 661 983 1,034 1,460 2,247 704 497 815 785 726 Other liabilities and accrued * dividends 505 25 127 25 39 36 32 82 19 10 19 23 68 TOTAL LIABILITIES 95,350 4,786 22,708 4,954 7,262 7,287 6,031 16,072 3,816 2,054 4,108 4,503 11,769 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 143 5 35 7 12 11 7 26 4 3 6 6 21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 96,991 4,858 23,131 5,038 7,411 7,376 6,140 16,324 3,870 2,091 4,178 4,591 11,983 Contingent liability on ace: eptances purchased for foreign correspondents 263 12 2/ 68 14 24 14 1_8_ 39 9_ 6 _ 11 14 34 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 14,121 3,279 4,603 4,946 2,978 9,690 2,193 940 2,107 2,247 6,728 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 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 $ 122 million participations of other Federal Reserve Banks, * Less than $500,000. 2/ After deducting $ 195 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis