H.4.1 Factors Affecting Reserve Balances of Depository Institutions

;o? ^ow.; FEDERAL RESERVE Factors Affecting Bank Reserves and ••Swv Condition Statement of F.R. Banks H.4.1 For immediate release March 23, 1972 The average of daily figures of total reserves of member banks declined $516 million in the latest statement week to $31,602 million. Member bank bor rowings from Federal Reserve Banks increased while required and excess reserves de clined. On weekly average, excess reserves were slightly negative reflecting the large surplus reserve carryover of the previous week. The major factor providing reserves in the latest statement week was a seasonal increase in float. Partially offsetting this reserve gain was an increase in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $45 million net, on a weekly average basis. The Trading Desk made some outright purchases of Treasury bills and coupon issues during the week, but this was more than offset by maturing repurchase agreements made in the pre vious week. Member bank borrowings averaged $115 million and exceeded excess reserves by $189 million. In the previous week excess reserves exceeded borrowings by $391 million. Averages of daily figures rtember bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, March 22, March 15, March 24, March 22, and related items 1972 1972 1971 1972 Reserve Bank credit: (Irl millions of dollars) U.S. Government securities- Bought outright — System account 68,285 + 234 +5,862 1/ 68,585 Held under repurchase agreements -- - 288 83 — Federal Agency obligations- Bought outright 810 + 48 + 810 810 Held under repurchase agreements -- - 9 4 -- Acceptances- Bought outright 67 + 3 + 13 69 Held under repurchase agreements -- - 33 27 -- Discounts and advances- Member bank borrowings 115 + 101 218 732 Other Float 3,274 + 336 4 421 3,010 Other F.R. assets 797 + 48 - 125 843 Total Reserve Bank credit 73,348 + 440 +6,649 74,049 Gold stock 9,588 -- -1,144 9,588 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,868 + 20 + 626 7,877 91,203 + 460 +6,131 91,914 Currency in circulation 60,257 + 35 +4,044 60,321 Treasury cash holdings 391 + 14 74 406 Treasury deposits with F.R. Banks 978 + 224 + 235 1,314 Foreign deposits with F.R. Banks 189 + 18 + 68 175 Other deposits with F.R. Banks 617 + 21 81 608 Other F.R. liabilities and capital 2,191 + 22 + 50 2,215 64,622 + 334 +4,241 65,039 Member bank reserves: With Federal Reserve Banks 26,581 + 126 +1,890 26,875 Currency and coin 5,021 - 642 + 230 5,021 Total reserves held 31,602 - 516 +2,120 31,896 Required reserves 31,676 - 37 +2,262 31,676 Excess reserves -74 - 479 - 142 220 NOTE: A net of $210 million of surplus reserves were eligible to be carried forward from the week ended March 15, into the week ending March 22. On March 22, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,796 million, an increase of $54 million for the week. V Includes $33 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 (C hange sinee March 22, March 15, Marc h 24, 1972 1972 1971 A S S E TS Gold certificate account 9,475 mum — 989 400 — — Special Drawing Rights certif. accts. Cash (1,1733)) 324 + 2 + 54 Discounts and advances 732 + 704 - 88 Acceptances--Bought outright 69 + 2 + 18 Held under repurchase agreements -- — - 10 Federal Agency obligatons—Bought outright 810 — + 810 Held under repurchase agreements -- -- - 9 U. S. Government securities: Bought outright--Bills 29,006 + 489 43,527 Certificates Notes 36,147 + 71 +2,322 Bonds 3,432 + 33 + 331 Total bought outright 1/ 68,585 + 593 +6.180 Held under repurchase agreements — -- - 41 Total U.S. Government securities 68,585 + 593 +6,139 Total loans and securities 70,196 +1, 299 +6,860 Cash items in process of collection (3,375) 11,193 -1, 472 +1,562 Bank premises 159 — + 25 Other assets 2/ 684 + 53 - 163 TOTAL ASSETS (4,548) 92,431 - 118 +7,349 LI A B I L IT I ES Federal Reserve notes (1,173) 53,061 67 +3,609 Deposits: Member bank--reserves account 26,795 + 234 +2,422 U. S. Treasurer--general account 1,314 + 463 + 388 Foreign 175 - 9 + 29 Other 608 - 12 61 Total deposits 28,892 + 676 +2,778 Deferred availability cash items (3,375) 8,263 - 796 + 927 Other liabilities and accrued dividends 513 + 8 24 TOTAL LIABILITIES (4,548) 90,729 179 +7,290 "• C A P I T AL A C C O U N TS Capital paid in "" 756 mtmB + 41 Surplus 742 — + 40 Other capital accounts 204 t- 61 22 Contingent liability on acceptances purchased for foreign correspondents 262 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Includes $33 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 22, 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 730 H5 4,357 16 days to 90 days 2 59 16,610 43 91 days to 1 year — — 14,323 170 Over 1 year to 5 years — — 26,410 397 Over 5 years to 10 years — — 5,678 116 Over 10 years _zz ZZ. 1,207 84 Total 732 69 68,585 810 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 22, 1972 Nex* 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 9,475 498 1,530 507 776 892 448 2,403 336 207 340 439 1,099 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,173 139 273 114 58 80 212 65 20 15 33 50 114 Other cash 324 10 26 10 38 39 36 43 20 9 35 16 42 Discounts and advances 732 -- 668 — — * 1 26 2 — 4 1 30 Acceptances: Bought outright 69 -- 69 _- __ -- .. -- .. __ _ _ «. _ — „. 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 29,006 1,357 7,335 1,538 2,215 2,166 1,529 4,720 1,069 560 1,187 1,313 4,017 Certificates: Special Other Notes 36,147 1,691 9,141 1,917 2,761 2,698 1,905 5,881 1,333 697 1,480 1,636 5,007 Bonds 3.432 161 868 182 262 256 181 558 127 66 140 155 476 Total bought outright M 68,585 3,209 17,344 3,637 5,238 5,120 3,615 11,159 2,529 1,323 2,807 3,104 9,500 Held under repurchase agreements Total U.S. Government securities 68,585 3,209 17,344 3,637 5,238 5_J20 3,615 11,159 2,529 1,323 2,807 3,104 9,500 Total loans and securities 70,196 3,247 18,286 3,680 5,300 5,180 3,659 11,317 2,561 1,338 2,844 3,142 9,642 Cash items in process of collection 14,568 850 2,490 754 1,008 1,103 1,682 2,459 771 602 944 929 976 Bank premises 159 2 8 3 26 13 16 17 15 22 17 12 8 Other assets 2/ 684 53 159 42 48 50 32 98 23 15 26 28 110 TOTAL ASSETS 96,979 4,822 22,865 5,133 7,287 7,393 6,107 16,472 3,761 2,215 4,254 4,630 12,040 1/ Includes $33 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 22, 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 54,234 2,892 13,330 3,167 4,396 4,817 2,697 9,405 2,116 921 2,039 2,093 6,361 Deposits: Member bank reserves 26,795 993 6,378 1,152 1,747 1,264 1,818 4,462 862 693 1,271 1,616 4,539 U. S. Treasurer--general account 1,314 76 276 74 62 203 91 127 63 68 60 75 139 Foreign 175 7 1/ 56 8 15 8 11 24 5 4 7 9 21 Other 608 2 2/541 2 — 22 5 8 — * 2 1 25 Total deposits 28,892 1,078 7,251 1,236 1,824 1,497 1,925 4,621 930 765 1,340 1,701 4,724 Deferred availability cash items 11,638 752 1,717 616 874 948 1,344 2,100 639 480 783 722 663 Other liabilities and accril ed 513 25 129 26 40 37 29 84 19 11 20 23 70 dividends TOTAL LIABILITIES 95,277 4,747 22,427 5,045 7,134 7,299 5,995 16,210 3,704 2,177 4,182 4,539 11,818 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 204 8 50 11 16 16 10 36 7 4 8 9 29 TOTAL LIABILITIES AND 96,979 4,822 22,865 5,133 7,287 7,393 6,107 16,472 3,761 2,215 4,254 4,360 12,040 CAPITAL ACCOUNTS Contingent liability on ace: eptances purchased for foreign 262 11 3/ 68 14 24 14 18 39 9 6 11 14 34 correspondents FEDERAL RESERVE AGENTS1 ACCOUNTS F, R. notes outstanding 14,115 3,293 4,607 4,959 2,970 9,699 2,202 951 2,109 2,242 6,727 Collateral for F. R. notes: Gold certificate account 500 300 350 285 — 700 155 — — 5 U. S. Government securities 3,000 13,800 3,150 4,400 4,720 3,100 9,300 2,130 970 2,175 2,330 7,000 Total collateral 3,150 14,300 3,450 4,750 5,005 3,100 10,000 2,285 970 2,175 2,335 7,000 1/ After deducting $119 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $194 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis