H.4.1 Factors Affecting Reserve Balances of Depository Institutions

&SI2&: FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release April 13, 1972 The average of daily figures for total reserves of member banks declined $239 million in the latest statement week to $32,397 million. Required reserves, excess reserves and member bank borrowings at the Federal Reserve Banks all declined. A seasonal increase in currency in circulation was the major factor absorbing reserves in the latest statement week. In addition, System Open Market operations drained $16 million reserves net, on a weekly average basis. Most of this absorption was through the maturing of repurchase agreements made in the previous week and matched sale-purchase transactions made in the current week. Some reserves were supplied during the statement week, however, through outright purchases of Treasury bills and repurchase agreements. Excess reserves averaged $212 million and exceeded borrowings by $199 million compared to $255 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 12, Apri- 1 5, April 14, April 12, and related items 1972 1972 1971 1972 Reserve Bank credit: (Irl mil.!i ons of dollars) U.S. Government securities- Bought outright — System account 69,746 + 447 +6,825 1/2/69,532 Held under repurchase agreements 132 - 432 - 42 -- Federal Agency obligations- Bought outright 810 ... + 810 810 Held under repurchase agreements 16 8 3 — Acceptances- Bought outright 82 + 1 + 29 82 Held under repurchase agreements 31 - 24 + 22 — Discounts and advances- Member bank borrowings 13 - 128 - 137 9 Other Float 2,940 + 70 18 3,035 Other F.R. assets 943 + 52 - 110 1.003 Total Reserve Bank credit 74,713 - 22 +7,375 74,471 Gold stock 9,588 — -1,144 9,588 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 7,912 + 18 + 628 7,917 92,613 - 5 +6,860 92,376 Currency in circulation 60,858 + 350 +3,887 61,041 Treasury cash holdings 403 - 11 - 94 407 Treasury deposits with F.R. Banks 1,273 + 33 + 466 1,541 Foreign deposits with F.R. Banks 255 + 49 + 93 188 Other deposits with F.R. Banks 627 - 30 - 100 625 Other F.R. liabilities and capital 2,389 + 36 + 181 2,179 65,804 + 425 +4,432 65,981 Member bank reserves: With Federal Reserve Banks 26,809 - 430 +2,428 26,395 Currency and coin 5,588 + 191 + 344 5,588 Total reserves held 32,397 - 239 +2,772 31,983 Required reserves 32,185 - 55 +2,768 32,185 Excess reserves 212 - 184 + 4 - 202 NOTE: A net of $216 million of surplus reserves were eligible to be carried forward from the week ended April 5, into the week ending April 12. On April 12, 1972, marketable U.S. Government securities held in custody by Federal Reserve Banks for foreign and international accounts were $28,953 million, a decrease of $1,784 million for the week. 1/ Excludes $250 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $56 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 sine: e April 12, April 5, Apri l 14, 1972 1972 1971 A S S E TS Gold certificate account 9,475 MM .. 989 Special Drawing Rights certif. accts. * 400 — — Cash (i ,008) 317 2 + 50 Discounts and advances 9 - 50 - 208 Acceptances--Bought outright 82 __ + 27 Held under repurchase agreements — 90 - 29 Federal Agency obligatons—Bought outright 810 — + 810 Held under repurchase agreements -- 62 -- U. S. Government securities: Bought outright—,BiHs 29,754 +4,250 Certificates Notes 36,296 — +2,116 Bonds 3.482 — + 262 Total bought outright 1/ 2/ 69,532 - 2 +6,628 Held under repurchase agreements 879 __ Total U.S. Government securities 69,532 mm 881 +6,628 Total loans and securities 70,433. -1, 083 +7,228 Cash items in process of collection (3,182) 11,507 + 143 - 67 Bank premises 161 + 2 + 25 Other assets V 842 + 73 - 107 TOTAL ASSETS (4,190) 93.135 - 867 +6.140 JilAJLlLIlIILjS Federal Reserve notes (1,008) 53,735 + 196 4-3,419 Deposits: Member bank--reserves account 26,315 -1, 203 +2,207 U. S. Treasurer—general account 1,541 + 329 + 769 Foreign 188 - 48 + 40 Other 625 - 71 - 130 Total deposits 28,669 - 993 +2,886 Deferred availability cash items (3,182) 8,552 + 147 - 263 Other liabilities and accrued dividends 548 - 17 + 28 TOTAL LIABILITIES (4,190) 91,504 - 667 +6,070 £ k Z I 1 L k A £ £ 0 U N T S. Capital paid in 761 — — + 43 Surplus 742 — + 40 Other capital accounts 128 - 200 13 Contingent liability on acceptances purchased for foreign correspondents 261 19 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $250 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $56 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. APRIL 12, 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 7 11 3,683 -1,112 7 •62 16 days to 90 days 2 71 17,631 + 102 67 91 days to 1 year 14,727 + 129 142 + 3 Over 1 year to 5 years 26,565 — 394 - 3 Over 5 years to 10 years 5,708 — 116 Over 10 years 1,218 — 84 Total 82 69,532 - 881 810 -62 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 APRIL 12, 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 9,475 576 2,490 444 888 811 510 1,808 390 114 299 142 1,003 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,008 124 242 105 46 69 207 42 14 12 33 37 77 Other cash 317 10 24 10 38 40 34 44 20 9 33 15 40 Discounts and advances 9 _- 3 — — — — 1 2 — 3 -- -<. Acceptances: Bought outright 82 -- 82 -- -- -.- -- -- -- -- «- --. -~ Held under repurchase agreements — — — — -- -- -- — -- -- — — -- Federal Agency obligations-- Bought outright 810 37 208 42 62 61 43 133 30 16 32 37 109 Held under repurchase agreements — — -- — .. — -- — — — — —• •— U.S. Government securities: Bought outright-- Bills 29,754 1,378 7,624 1,555 2,271 2,230 1,571 4,894 1,096 586 1,194 1 ,360 3,995 Certificates: Other 1 -- -- -- -- -- _- -• -- _- -• -- -- 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/ 2/ 69,532 3,220 17,816 3,634 5,307 5,211 3,671 11,436 2,562 1,370 2,792 ~T, 178 9,335 Held under repurchase agreements — — — -_ -- w«* -- — -- — -- -- -- Total U.S. Government securities 69,532 ; 3,220 17,816 3,634 5,307 5,211 3,671 11,436 2,562 1,370 2,792 ~ ,178 9,335 Total loans and securities 70,433 ! 3,257 18,109 3,676 5,369 5,272 3,714 11,570 2,594 1,386 2,827 3 ,215 9,444 Cash items in process of collection 14,689 ; 840 2,490 818 1,043 1,156 1,693 2,222 833 574 965 973 1,082 Bank premises 161 \ 2 8 4 26 13 16 17 15 23 17 12 8 Other assets V 842 63 198 54 58 63 40 120 28 16 32 47 123 TOTAL ASSETS 97,325 | 4,895 23,654 5,134 7,501 7,460 6,236 16,893 3,909 2,141 4,221 4 ,455 11,826 \J Excludes $250 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 7J Includes $56 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ 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 12, 1972 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 54,743 2,906 13,421 3,197 4,424 4,882 2,739 9,466 2,148 938 2,077 2,113 6,432 Deposits: Member bank reserves 26,315 1,054 7,121 1,030 1,847 1,321 1,781 4,008 903 600 1,176 1,371 4,103 U. S. Treasurer—general account 1,541 78 184 114 124 169 126 157 113 73 87 88 228 Foreign 188 8 1/ 55 9 17 9 12 27 6 4 8 10 23 Other 625 2 560 2 21 3 3 3 1 2 2 26 Total deposits 28,669 1,142 7,920 1,155 1,988 1,520 1,922 4,195 1,025 678 1,273 1,471 4,380 Deferred availability cash items 11,734 749 1,754 669 901 930 1,431 1,889 662 477 782 758 732 Other liabilities and accn.le d dividends 548 26 139 30 41 40 IS 8Q 20 11 20 2^_ 72 TOTAL LIABILITIES 95,694 4,823 23,234 5,051 7,354 7,372 6,127 15,639 3,855 2,104 4,152 4,367 11,616 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 128 5 31 6 10 10 7 25 4 3 5 5 17 TOTAL LIABILITIES AND .97,325 4,895 23,654 5,134 7,501 7,460 6,236 15,893 3,909 2,141 4,221 4,455 11,826 CAPITAL ACCOUNTS Contingent liability on ace: eptances purchased for forei. gn correspondents 261 12 2/ 68 13 24 13 18 39_ 9_ 6 1L_ 14 34 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,076 14,160 3,306 4,597 5,009 3,004 9,688 2,224 972 2,146 2,236 6,776 Collateral for F. R. notes: Gold certificate account 150 500 300 350 285 700 155 U. S. Government securities 3.000 13.800 3.150 4.400 4,815 3.100 9.300 2,130 980 2,175 2.330 7,000 Total collateral 3,150 14,300 3,450 4,750 5,100 3,100 10,000 2,285 980 2,175 2,335 7,000 N 1/ After deducting $133 million participations of other Federal Reserve Banks. 2/ After deducting $193 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis