H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•;o'°iS2i*V/. FEDERAL RESERVE Factors Affecting Bank Reserves and •rf&LK&y Condition Statement of F.R. Banks H.4.1 For immediate release May 4, 1972 The average of daily figures for total reserves of member banks increased $153 million in the latest statement week to $32,863 million. Required reserves increased while excess reserves and member bank borrowings at the Federal Reserve Banks declined. A seasonal decline in float was the major factor absorbing reserves in the latest statement week. More than offsetting this reserve drain was a decline in the level of Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations provided $3 million reserves net, on a weekly average basis. Excess reserves averaged $167 million and exceeded borrowings by $50 million compared to $22 million in the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 3, Apri l 26, May 5, May 3, and related items 1972 1972 1971 1972 Reserve Bank credit: (Irl millions of dollars) U.S. Government securities-- Bought outright--System account 70,358 + 182 +6,550 1770,482 Held under repurchase agreements — - 184 - 379 — Federal Agency obligations-- Bought outright 979 + 25 + 979 979 Held under repurchase agreements -- - 3 51 -- Acceptances- Bought outright 83 _- + 28 85 Held under repurchase agreements — 17 32 — Loans-- Member bank borrowings 117 162 57 470 Other Float 3,030 _ 128 + 277 3,190 Other F.R. assets 1,094 + 49 - 92 1,134 Total Reserve Bank credit 75,661 - 237 +7,223 | 76,340 Gold stock 9,588 __ -1,144 9,588 Special Drawing Rights certif. acct. 400 -- — 400 Treasury currency outstanding 7,954 + 18 + 628 7,967 93,603 - 219 +6,707 94,295 Currency in circulation 60,668 + 35 +3,953 i 60,936 Treasury cash holdings 403 + 5 - 116 405 Treasury deposits with F.R. Banks 2,090 - 323 +1,055 2,687 Foreign deposits with F.R. Banks 191 + 39 + 37 136 Other deposits with F.R. Banks 603 + 17 - Ill 560 Other F.R. liabilities and capital 2,356 + 73 + 94 | 2.387 66,311 - 154 +4,913 67,111 Member bank reserves: With Federal Reserve Banks 27,293 - 64 +1,796 27,185 Currency and coin 5,570 + 217 + 287 5,570 Total reserves held 32,863 + 153 +2,083 32,755 Required reserves 32,696 + 287 +2,281 32,696 Excess reserves 167 - 134 - 198 59 NOTE: A net of $85 million of surplus reserves were eligible to be carried forward from the week ended April 26, into the week ending May 3. On May 3, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,885 million, a decrease of $255 million for the week. 1/ Includes $63 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 May 3, April 26, May 5, 1972 1972 1971 A S S E TS Gold certificate account 9,475 mm mm -1,000 Special Drawing Rights certif. accts. * 400 — — Cash (1,104) 328 + 4 + 67 Loans 470 -1,322 - 332 Acceptances--Bought outright 85 + 3 + 27 Held under repurchase agreements — - 85 81 Federal Agency obligatons—Bought outright 979 -- + 979 Held under repurchase agreements — 15 - 137 U. S. Government securities: Bought outright—Bills 30,494 + 297 +3,851 Certificates Notes 36,448 __ +2,268 Bonds 3,540 -- + 320 Total bought outright 1/ 70,482 + 297 +6,439 Held under repurchase agreements -- -1,076 -1,136 Total U.S. Government securities 70,482 - 779 +5,303 Total loans and securities 72,016 -2,198 +5,759 Cash items in process of collection (3,418) 11,918 + 166 + 941 Bank premises 162 — + 26 Other assets 2/ 972 + 32 - 108 TOTAL ASSETS (4,522) 95,271 -1,996 +5,685 Federal Reserve notes (1,104) 53,588 + 197 +3,388 Deposits: Member bank--reserves account 27,105 -3,344 - 521 U. S. Treasurer—general account 2,687 + 865 +2,194 136 + 8 12 Foreign 560 13 - 125 Other 3/ 30,488 -2,484 +1,536 Total deposits Deferred availability cash items (3,418) 8,808 + 212 + 687 Other liabilities and accrued dividends 566 + 13 4 TOTAL LIABILITIES (4,522) 93,450 -2,062 +5,607 C A P I T AL A C C O U N TS Capital paid in 763 1 + 42 Surplus 742 — + 40 Other capital accounts 316 • 65 4 Contingent liability on acceptances purchased for foreign correspondents 264 27 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $63 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, MAY 3, 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 468 26 6,709 + 981 -- -15 16 days to 90 days 2 59 15,144 -1,803 112 +38 91 days to 1 year -- 14,930 + 43 187 -30 Over 1 year to 5 years -- 26,665 — 442 - 8 Over 5 years to 10 years — 5,804 — 134 — Over 10 years — __ 1,230 '-- 104 -- Total 470 85 70,482 - 779 979 -15 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.Hb) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 3, 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 9,475 545 1,478 500 590 768 484 2,292 267 147 373 308 1,723 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,104 134 227 119 53 79 250 50 17 13 36 40 86 Other cash 328 11 25 11 38 41 34 46 20 10 35 15 • 42 Loans 470 1 446 7 1 5 : 1 3 5 Acceptances: Bought outright 85 -- 85 -- -- -- -- -- -- -_ Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 979 46 244 51 75 72 53 161 37 20 39 44 137 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- "" U.S. Government securities: Bought outright-- Bills 30,494 1,435 7,602 1,578 2,336 2,257 1,642 5,001 1,156 612 1 ,212 1,388 4,275 Certificates: Other -- -- -- -- -- -- -_ -- -- -- -- -- -- Notes 36,448 1,716 9,086 1,886 2,792 2,698 1,962 5,978 1,382 731 1 ,449 1,659 5,109 Bonds 3,540 167 882 183 271 262 191 581 134 71 141 161 496 Total bought outright 1/ 70,482 3,318 17,570 3,647 5,399 5,217 3,795 11,560 2,672 1,414 T ,802 3,208 9,880 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- "" Total U.S. Government securities 70,482 3,318 17,570 3,647 5,399 5,217 3,795 11,560 2,672 1,414 T ,802 3,208 97880 Total loans and securities 72,016 3,365 18,345 3,698 5,474 5,296 3,849 11,726 2,710 1,435 2 ,844 3,252 10,022 Cash items in process of collection 15,336 935 2,722 956 1,112 1,114 1,533 2,340 840 610 l ,038 942 1,194 Bank premises 162 2 8 4 27 13 16 17 15 23 17 12 8 Other assets 2_/ 972 70 229 57 68 71 57 144 34 20 35 42 145 TOTAL ASSETS 99,793 5,085 23,127 5,368 7,395 7,418 6,245 16,685 3,918 2,265 4 ,393 4,625 13,269 1/ Includes $63 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 MAY 3, 1972 New Phila Cleve Rich St. Minne Kansas San 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 54,692 2,907 13,455 3,197 4,400 4,871 2,740 9,423 2,149 944 2,084 2,107 6,415 Deposits: Member bank reserves 27,105 1,025 6,088 1,116 1,654 1,289 1,851 4,638 821 656 1,167 1,472 5,328 U. S. Treasurer--general account 2,687 1 204 541 148 162 181 152 316 185 112 168 179 339 Foreign 136 6 1/ 43 7 11 7 8 19 4 3 5 7 16 Other 560 502 2 2 18 5 4 1 1 2 2 21 Total deposits 30,488 1,235 7,174 1,273 1,829 1,495 2,016 4,977 1,011 772 1,342 1,660 5,704 Deferred availability cash items 12,226 836 1,890 776 961 909 1,337 1,908 676 497 868 736 832 Other liabilities and accril ed dividends 566 27 139 29 43 41 34 91 21 12 22 25 82 TOTAL LIABILITIES 97,972 5,005 22,658 5,275 7,233 7,316 6,127 16,399 3,857 2,225 4,316 4,528 13,033 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 316 12 80 16 25 24 16 57 11 6 12 14 43 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 99,793 5,085 23,127 5,368 7,395 7,418 6,245 16,685 3,918 2,265 4,393 4,625 13,269 Contingent liability on acee ptances purchased for forei. gn correspondents 264 12 11 69 14 24 14 18 39 9 6 11 14 34 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 57,319 3,086 14,239 3,320 4,572 5,012 2,995 9,684 2,231 974 2,147 2,270 6,789 Collateral for F. R. notes: Gold certificate account 1,945 150 300 350 285 700 155 5 U. S. Government securities 56,900 3,000 14,450 3,150 4,400 4,815 3,100 9,300 2,130 1,000 2,225 2,330 7,000 Total collateral 58,845 3,150 14,450 3,450 4,750 5,100 3,100 10,000 2,285 1,000 2,225 2,335 7,000 1/ After deducting $ 93 million participations of other Federal Reserve Banks, 2/ After deducting $ 195 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis