H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and 'f^LRE^V Condition Statement of F.R. Banks H.4.1 For immediate release April 6, 1972 The average of daily figures for total reserves of member banks increased $383 million in the latest statement week to $32,636 million. Required and excess reserves increased while member bank borrowings at the Federal Reserves Banks declined. Increases in currency in circulation and Treasury deposits with the Federal Reserve Banks were major factors absorbing reserves in the latest statement week. Partially offsetting these reserve drains was an increase in float. In addition, System Open Market operations provided $1,006 million reserves net, on a weekly average basis through outright purchases of Treasury bills and repurchase agreements. Excess reserves averaged $396 million and exceeded borrowings by $255 million compared to $155 million for the previous week. Averages of daily figures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, APRIL 5, MAE, CH 29, A1P RIL 7, APRIL 5, and related items 1972 1972 | 1971 1972 Reserve Bank credit: (IrI millions of dollars) U.S. Government securities- Bought outright —System account 69,299 + 494 +6 ,590 1/69,534 Held under repurchase agreements 564 + 436 + 92 879 Federal Agency obligations- Bought outright 810 ... + 810 810 Held under repurchase agreements 24 23 - 63 62 Acceptances- Bought outright 81 + 11 + 25 82 Held under repurchase agreements 55 + 42 - 5 90 Discounts and .advances- Member bank borrowings 141 14 56 59 Other Float 2,870 + 142 + 152 3,088 Other F.R. assets 891 + 41 - 119 928 Total Reserve Bank credit 74,735 +1 ,175 +7 ,427 75,532 Gold stock 9,588 — -1 ,144 9,588 Special Drawing Rights certif. acct. 400 — -- 400 Treasury currency outstanding 7,894 + 12 + 626 7,908 92,618 +1 ,188 +6 ,910 93,428 Currency in circulation 60,508 -L 333 +4, 080 60,829 Treasury cash holdings 414 + 8 - 75 412 Treasury deposits with F.R. Banks 1,240 + 354 + 192 1,212 Foreign deposits with F.R. Banks 206 + 28 + 58 236 Other deposits with F.R. Banks 657 + 81 - 171 696 Other F.R. liabilities and capital 2,353 + 90 + 72 2,396 65,379 + 896 +4 ,157 65,781 Member bank reserves: With Federal Reserve Banks 27,239 + 292 +2 ,753 27,647 Currency and coin 5,397 + 91 + 213 5,397 Total reserves held 32,636 + 383 +2 ,966 33,044 Required reserves 32,240 + 297 +2 ,847 32,240 Excess reserves 396 + 86 + 119 804 NOTE: A net of $123 million of surplus reserves were eligible to be carried forward from the week ended March 29, into the week ending April 5. On April 5, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,737 million, a decrease of $26 million for the week. 1/ Includes $66 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 APRIL 5, |MARCH 29, APRIL 7, 1972 1972 1971 A S S E TS Gold certificate account 9,475 989 Special Drawing Rights certif. accts. * 400 Cash (i, 045) 319 4 54 Discounts and advances 59 - 971 117 Acceptances—Bought outright 82 + 3 + 29 Held under repurchase agreements 90 + 43 Federal Agency obligatons—Bought outright 810 + 810 Held under repurchase agreements 62 + 54 + 62 U. S. Government securities: Bought outright—Bills 29,756 + 360 +4,743 Certificates Notes 36,296 + 149 +2,265 Bonds 3,482 + 50 + 310 Total bought outright 1/ 69,534 + 559 +7,318 Held under repurchase agreements 879 17 + 879 Total U.S. Government securities 70,413 + 542 +8,197 Total loans and securities 71,516 - 372 +9,024 Cash items in process of collection (3,2 12) 11,413 +1,279 + 119 Bank premises 159 — + 24 Other assets 2/ 769 + 31 - 122 TOTAL ASSETS (4,2 57) 94,051 + 934 +8,110 L i A i l l i l i lE s Federal Reserve notes (1,045) 53,539 + 367 +3,450 Deposits: Member bank—reserves account 27,567 - 851 +3,645 U. S. Treasurer—general account 1,212 + 295 + 388 Foreign 236 + 31 + 73 Other 696 + 107 - 319 Total deposits (15) 29,711 - 418 +3,787 Deferred availability cash items (3,197) 8,405 + 891 + 840 Other liabilities and accrued dividends TOTAL LIABILITIES (4,257) 92,220 + 871 +8,050 C A P I T AL A C C O U N TS Capital paid in 761 -- + 43 Surplus 742 -- + 40 Other capital accounts 328 t- 63 - 23 Contingent liability on acceptances purchased for foreign correspondents 266 17 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Includes $66 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, APRIL 5, 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 59 100 4,795 - 566 69 + 61 16 days to 90 days 72 17,529 + 772 67 + 24 91 days to 1 year — 14,598 + 140 139 - 31 Over 1 year to 5 years -- 26,565 + 155 397 -- Over 5 years to 10 years — 5,708 + 30 116 «*«• Over 10 years — 1,218 + 11 84 — Total 59 70,413 542 872 54 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 APRIL 5, 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 9,475 433 1,438 590 746 814 492 1,985 380 171 376 83 1,767 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,045 131 241 111 53 68 210 49 16 15 29 40 82 Other cash 319 11 25 10 39 40 34 44 20 9 33 14 40 Discounts and advances 59 52 Acceptances: Bought outright 82 82 Held under repurchase agreements 90 90 Federal Agency obligations-- Bought outright 810 37 208 42 62 61 43 133 30 16 32 37 109 Held under repurchase agreements 62 62 U.S. Government securities: Bought outright— Bills 29,756 1,378 7,625 1,555 2,271 2,230 1,571 4,894 1,096 586 1,195 1,360 3,995 Certificates: Special Other Notes 36,296 1,681 9,300 1,897 2,770 2,720 1,916 5,969 1,338 715 1,458 1,659 4,873 Bonds 3^482 161 892 182 266 261 184 573 128 69 140 159 467 Total bought outright 1/ 69,534 3,220 17,817 3,634 5,307 5,211 3,671 11,436 2,562 1,370 2,793 3,178 9,335 Held under repurchase agreements 879 879 Total U.S. Government securities 70,413 3,220 18,696 3,634 5^307 5,211 3,671 11,436 2,562 1,370 2,793 3,178 9,335 Total loans and securities 71,516 3,257 19,190 3,678 5,369 5,272 3,714 11,569 2,592 1,386 2,829 3,216 9,444 Cash items in process of collection 14,625 884 2,740 860 1,045 1,110 1,505 2,321 764 542 916 922 1,016 Bank premises 159 2 8 3 26 13 16 17 15 22 17 12 8 Other assets 2/ 769 59 190 50 54 54 38 115 26 16 28 33 106 TOTAL ASSETS 98,308 4,800 23,925 5,325 7,365 7,407 6,031 16,170 3,828 2,168 4,243 4,534 12,512 1/ Includes $66 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 APRIL 5, 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 54,584 2,898 13,402 3,185 4,408 4,867 2,734 9,436 2,136 929 2,059 2,106 6,424 Deposits: Member bank reserves 27,567 948 7,083 1,260 1,749 1,326 1,781 4,249 905 663 1,222 1,555 4,826 U. S. Treasurer--general account 1,212 45 363 50 59 82 56 149 63 51 77 65 152 Foreign 236 10 1/ 73 12 20 12 15 33 7 5 9 12 28 Other 711 1 587 2 — 21 18 49 2 -_ 2 2 27 Total deposits 29,726 1,004 8,106 1,324 1,828 1,441 1,870 4,480 977 719 1,310 1,634 5,033 Deferred availability cash items 11,602 792 1,790 694 925 957 1,274 1,879 634 469 774 672 742 Other liabilities and accrued dividends 565 26 155 28 41 40 34 89 20 11 23 25 73 TOTAL LIABILITIES 96,477 4,720 23,453 5,231 7,202 7,305 5,912 15,884 3,767 2,128 4,166 4,437 12,27-2 CAPITAL ACCOUNTS Capital paid in 761 33 196 39 69 40 52 118 25 17 32 42 98 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 328 13 83 17 26 24 17 57 11 6 13 14 47 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 98,308 4,800 23,925^ J>, 325 7,365 7,407 6,031 16,170 3,828 2,168 4,243 4,534 12,512 Contingent liability on acet eptances purchased for foreign 266 12 2/ 69 14 24 14 18 40 9 6 11 15 34 correspondents FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 14,157 3,301 4,614 4,987 2,976 9,695 2,205 952 2,125 2,241 6,766 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 4,765 3,100 9,300 2,130 970 2,175 2,330 7,000 Total collateral 3,150 14,300 3,450 4,750 5,050 3,100 10,000 2,285 970 2,175 2,335 7,000 J7 After deducting $163 million participations of other Federal Reserve Banks, If After deducting $197 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis