H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and '•?f^K^'* Condition Statement of F.R. Banks H.4.1 For immediate release April 20, 1972 The average of daily figures for total reserves of member banks increased $227 million in the latest statement week to $32,624 million. Required reserves and member bank borrowings at the Federal Reserve Banks increased while excess reserves declined. Excess reserves were negative, on weekly average, reflecting in part the reserve carryover surplus of the previous week. An increase in Treasury deposits with Federal Reserve Banks was the major factor absorbing reserves in the latest statement week. A seasonal increase in float and a decline in other F.R. liabilities and capital more than offset this re serve drain. In addition, System Open Market operations provided $76 million re serves net, on a weekly average basis through outright purchases of Treasury bills and coupon issues early in the statement week. Some reserves were absorbed near the end of the week through matched sale-purchase transactions. Member bank bor rowings averaged $45 million and exceeded excess reserves by $54 million. In the previous week excess reserves exceeded borrowings by $199 million. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 19, April 12, Apic il 21, April 19, and related items 1972 1972 L971 1972 Reserve Bank credit: (Irl millions of dol iars) U.S. Government securities-- 1/ 2/ Bought outright--System account 70,001 + 255 +6 ,607 69,854 Held under repurchase agreements -- - 132 - 124 — Federal Agency obligations-- Bought outright 810 -- + 810 810 Held under repurchase agreements -- 16 - 8 — Acceptances- Bought outright 82 -_ + 28 82 Held under repurchase agreements -- 31 - 10 — Loans * Member bank borrowings 45 32 39 245 Other Float 3,317 + 377 + 58 3,556 Other F.R. assets 996 + 53 - 181 1,045 Total Reserve Bank credit 75,250 + 537 +7 ,140 75,592 Gold stock 9,588 -- -1, 144 9,588 Special Drawing Rights certif. acct. 400 — -- 400 Treasury currency outstanding 7,920 + 8 + 624 7,925 93,159 + 546 +6 ,621 93,505 Currency in circulation 60,863 + 5 +3 ,983 60,898 Treasury cash holdings 407 + 4 - 95 411 Treasury deposits with F.R. Banks 1,535 + 262 + 590 1,868 Foreign deposits with F.R. Banks 177 - 78 + 36 142 Other deposits with F.R. Banks 596 - 31 - 164 545 Other F.R. liabilities and capital 2,220 - 169 + 108 2,241 65,799 - 5 +4 ,460 66,105 Member bank reserves: With Federal Reserve Banks 27,360 + 551 +2 ,161 27,401 Currency and coin 5,264 - 324 + 525 5,264 Total reserves held 32,624 + 227 +2 ,686 32,665 Required reserves 32,633 + 448 +2, 776 32,633 Excess reserves -9 - 221 - 90 1 32 NOTE: A net of $166 million of surplus reserves were eligible to be carried forward from the week ended April 12, into the week ending April 19. On April 19, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $29,150 million, an increase of $197 million for the week. 1/ Excludes $355 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $48 million securities loaned — fully secured by U.S. Government securi ties pledged with Federal Reserve Banks. * Previously Discounts and advances. 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 CI hange sinee April 19, April 12, April 21, 1972 1972 1971 L 1 £ E T S. Gold certificate account 9,475 mm— — 989 400 -- — Special Drawing Rights certif. accts. Cash (1,092)) 318 + 1 + 64 245 + 236 + 157 Loans** 82 •_ + 29 Acceptances--Bought outright -- —. - 39 Held under repurchase agreements 810 -- + 810 Federal Agency obligatons—Bought outright -- -- - 48 Held under repurchase agreements U. S. Government securities: + 112 +3,872 Bought outright—Bills 29,866 Certificates 36,448 + 152 +2,268 Notes 3,540 + 58 + 320 Bonds 1/ 2/ 69,854 + 322 +6,460 Total bought outright -- -- - 573 Held under repurchase agreements 69,854 + 322 +5,887 Total U.S. Government securities 70,991 + 558 +6,796 Total loans and securities Cash items in process of collection (4,067) 12,956 +1, 417 + 729 Bank premises 162 + 1 + 26 Other assets 3/ 883 + 41 - 145 TOTAL ASSETS (5,159) 95.185 ±2, 018 +6.481 L I A B IL I T I E S Federal Reserve notes (1,092) 53,588 147 +3,541 Deposits: Member bank--reserves account 27,321 + 974 +2,193 U. S. Treasurer—general account 1,868 + 327 + 398 Foreign 142 - 46 8 Other 545 - 80 - 177 Total deposits 29,876 +1, 175 +2,406 Deferred availability cash items (4,067) 9,480 + 928 + 430 Other liabilities and accrued dividends 548 — + 30 TOTAL LIABILITIES (5,159) 93,492 +1, 956 +6,407 £ A I 1 1 A L A C £ 0 U N T £ Capital paid in 763 2 + 44 Surplus 742. — + 40 Other capital accounts 188 f- 60 10 Contingent liability on acceptances purchased for foreign correspondents 265 + 4 + 28 * Figures in parentheses are the eliminations made in the consolidating process. ** Previously Discounts and Advances. 1/ Excludes $355 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $48 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 19, 1972 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Accept U. S. Government Federal Agency Loans ** -ances securities obligations Holdings Weekly Holdings Weekly changes Changes Within 15 days 245 9 4,304 +621 7 16 days to 90 days 73 17,046 -585 67 91 days to 1 year — 14,805 + 78 142 Over 1 year to 5 years -- 26,665 +100 394 Over 5 years to 10 years — 5,804 + 96 116 Over 10| years -- — 1,230 + 12 84 Total 245 82 69,854 +322 810 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 19, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Da lias York delphia land mond Louis apolis City Francisco (]'. n millions of dollars^ A S S E TS ' Gold certificate account 9,475 572 1,374 399 726 810 448 2,030 402 192 317 479 1,726 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,092 121 243 110 48 81 233 45 20 13 37 42 99 Other cash 318 10 24 11 39 39 33 44 19 10 33 16 40 Loans * 245 30 177 .. 2 3 3 30 Acceptances: Bought outright I 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 -- — -- -- -- -- -- -- -- -- -- .- 1 U.S. Government securities: Bought outright-- Bills 129,866 1,383 7,653 1,561 2,280 2,238 1,577 4,912 1,100 588 1,199 1 ,365 4,010 Certificates: Other 1 -- -_ -- -- -- -- -- -- -- -- -- -- Notes 36,448 1,688 9,339 1,905 2,782 2,731 1,924 5,995 1,343 718 1,464 1 ,665 4,894 Bonds | 3 540 164 907 185 270 265 187 582 131 70 142 162 475 r Total bought outright 1/ 2/ 169,854 3,235 17,899 3,651 5,332 5,234 3,688 11,489 2,574 1,376 2,805 3~, 192 9,379 Held under repurchase agreements j -- -- -- -- -- -- -- -- -_ -_ _- Total U.S. Government securities 69,854 3,235 17,899 3,651 5,332 5,234 3,688 11,489 2,574 1,376 2,805 3*| T92 9,379 Total loans and securities 70,991 3,302 18,366 3,693 5,394 5,295 3,733 11,622 2,604 1,395 2,840 3 ,229 9,518 Cash items in process of collection 17,023 1,006 3,069 989 1,188 1,338 1,917 2,630 878 605 1,126 1 ,093 1,184 Bank premises 162 2 8 4 27 13 16 17 15 23 17 12 8 Other assets 3/ 883 63 211 50 61 64 45 131 29 19 33 38 139 TOTAL ASSETS 100,344 5,099 23,388 5,279 7,516 7,676 6,447 16,589 3,982 2,264 4,418 4 ,923 12,763 1/ Excludes $355 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $48 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Previously Discounts and advances. 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 19, 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 54,680 2,915 13,431 3,198 4,418 4,862 2,735 9,457 2,145 940 2,077 2,110 6,392 Deposits: Member bank reserves 27,321 802 6,450 1,100 1,800 1,379 1,791 4,469 875 718 1,232 1,676 5,029 U. S. Treasurer — general account 1,868 105 358 85 105 166 194 129 162 46 95 155 268 Foreign 142 6 1/ 39 7 13 7 9 21 5 3 6 8 18 Other 545 1 489 2 — 18 5 3 1 * 2 2 22 Total deposits 29,876 914 7,336 1,194 1,918 1,570 1,999 4,622 1,043 767 1,335 1,841 5,337 Deferred availability cash items 13,547 1,168 2,046 771 987 1,111 1,568 2,156 718 507 915 856 744 Other liabilities and accrued dividends 548 27 139 29 42 41 33 89 20 12 19 25 72 TOTAL LIABILITIES 98,651 5,024 22,952 5,192 7,365 7,584 6,335 16,324 3,926 2,226 4,346 4,832 12,545 CAPITAL ACCOUNTS Capital paid in 763 34 196 39 69 40 52 118 25 17 33 42 98 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 188 7 47 10 14 14 10 36 6 4 7 8 25 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 100,344 5,099 23,388 5.279 7,516 7.676 6,447 16,589 3.982 2,264 4,418 4,923 12,763 Contingent liability on accept ances purchased for foreign 265 12 2/ 69 14 24 14 18 39 9 6 11 15 34 correspondents FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 57,331 3,072 14,212 3,316 4,607 5,020 3,013 9,685 2,227 968 2,143 2,272 6,796 Collateral for F. R. notes: Gold certificate account 2,445 150 500 300 350 285 -- 700 155 -- -- 5 -- U. S. Government securities 56,350 3,000 13,950 3,150 4,400 4,815 3,100 9,300 2,130 1,000 2,175 2,330 7,000 Total collateral 58,795 3,150 14,450 3,450 4,750 5,100 3,100 10,000 2,285 1,000 2,175 2,335 7,000 J7 After deducting S1Q3 million participations of other Federal Reserve Banks, Less than $500,000. 2/ After deducting $196 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis