H.4.1 Factors Affecting Reserve Balances of Depository Institutions

O* (-Oy ' , & U.: FEDERAL RESERVE m* Factors Affecting Bank Reserves and ••f^URE^V Condition Statement of F.R. Banks H.4.1 For immediate release May 11, 1972 The average of daily figures for total reserves of member banks declined $77 million in the latest statement week to $32,786 million. Required reserves and member bank borrowings at Federal Reserve Banks declined while excess reserves increased. Increases in currency in circulation and Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. A contraseasonal increase in float provided $202 million of reserves. In addition, System Open Market operations provided $192 million reserves net, on a weekly average basis. The rise in the gold stock reflects the increase in the official price of gold to $38 per ounce effective on May 8. This was offset by an equal increase in Treasury cash holdings. Excess reserves averaged $229 million and exceeded borrowings by $144 million compared to $50 million in the previous week. Averages of daily figures | Member bank reserves, Week ended Chan ge from week ended Wednesday, Reserve Bank credit, May 10, May 3, May 12, May 10, and related items 1972 1972 1971 1972 Reserve Bank credit: (Irl millions of dollars) U.S. Government securities-- Bought outright—System account 70,545 + 187 +6,564 1/70,369 Held under repurchase agreements -- -- - 478 ~ Federal Agency obligations- Bought outright 979 __ + 979 979 Held under repurchase agreements — -- - 45 -- Acceptances- Bought outright 88 5 + 29 82 Held under repurchase agreements — — 38 — Loans -»- 85 32 14 493 Member bank borrowings Other 3,232 + 202 + 692 3,114 Float Other F.R. assets 1,135 + 41 - 162 1.1.80 Total Reserve Bank credit 76,065 + 404 +7,528 76,217 Gold stock 9,940 + 352 - 621 10,410 400 — — 400 Special Drawing Rights certif. acct. 7,971 + 17 + 626 7,976 Treasury currency outstanding 94,376 + 773 +7,534 95,003 Currency in circulation 61,010 + 342 +3,846 61,322 Treasury cash holdings 748 + 345 + 241 1,224 Treasury deposits with F.R. Banks 2,518 + 428 +1,204 | 2,686 Foreign deposits with F.R. Banks 136 - 55 31 ' 121 Other deposits with F.R. Banks 574 - 29 - 115 606 Other F.R. liabilities and capital 2,305 - 51 + 6 2,167 67,291 + 980 +5,152 68,126 Member bank reserves: With Federal Reserve Banks 27,084 - 209 +2,381 26,877 Currency and coin 5,702 + 132 + 321 5,702 Total reserves held 32,786 - 77 +2,702 32,579 Required reserves 32,557 - 139 +2,703 32,557 Excess reserves 229 + 62 1 22 NOTE: A net of $72 million of surplus reserves were eligible to be carried forward from the week ended May 3, into the week ending May 10. On May 10, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,781 million, a decrease of $104 million for the week. 1/ Includes $42 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 10, May 3, May 12, 1972 1972 1971 A S S E TS 9,475 — - 600 Gold certificate account 400 — — Special Drawing Rights certif. accts. Cash (985) 329 + 1 + 65 493 + 23 + 465 Loans 82 - 3 + 24 Acceptances—Bought outright Held under repurchase agreements 979 + 979 Federal Agency obligatons—Bought outright Held under repurchase agreements U. S. Government securities: 30,381 113 +3,860 Bought outright—Bills Certificates 36,448 — +2,268 Notes 3,540 — + 320 Bonds 1/ 70,369 - 113 +6,448 Total bought outright -- — - 264 Held under repurchase agreements 70,369 - 113 +6,184 Total U.S. Government securities 71,923 - 93 +7,652 Total loans and securities Cash items in process of collection (3,092) 1Q.864 -1, 140 + 277 Bank premises 163 + 1 + 24 Other assets 2/ 1,017 + 45 - 168 TOTAL ASSETS (4,077) 94,171 ^1,, 186 +7.250 t i A n L i i iE s (985) 53,964 + 376 +3,425 Federal Reserve notes 26,797 - 394 +2,746 Deposits: Member bank--reserves account 2,686 - 1 +1,574 U. S. Treasurer—general account 121 - 15 - 40 Foreign 606 + 46 - 81 Other 30,210 - 364 +4,199 Total deposits (3,092) 7,830 - 978 - 392 Deferred availability cash items 552 - 14 + 20 Other liabilities and accrued dividends (4,077) 92,556 - 980 +7,252 TOTAL LIABILITIES C A P I T AL A C C O U N T S, 762 1 + 40 Capital paid in 742 — + 40 Surplus 111 - 205 - 82 Other capital accounts Contingent liability on acceptances 265 21 purchased for foreign correspondents * Figures in parentheses are the eliminations made in the consolidating process, 1/ Includes $42 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2J Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 10, 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 491 23 6,822 +113 — 16 days to 90 days 2 59 15,008 -136 112 91 days to 1 year 14,840 - 90 187 Over 1 year to 5 years 26,665 — 442 Over 5 years to 10 years 5,804 — 134 Over 10 years — — 1,230 -- 104 Total 493 82 70,369 -113 979 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 10, 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 54,949 2,920 13,496 3,212 4,420 4,886 2,767 9,454 2,162 954 2,101 2,118 6,459 Deposits: Member bank reserves 26,797 1,001 6,668 1,075 1,714 1,324 1,733 3,787 932 667 1,139 1,387 5,370 U. S. Treasurer—general account 2,686 178 491 254 184 232 215 266 127 122 148 159 310 Foreign 121 5 1/ 36 6 10 6 8 17 4 3 5 6 15 Other 606 2 545 3 1 18 4 4 1 3 /, 21 Total deposits 30,210 1,186 7,740 1,338 1,909 1,580 1,960 4,074 1,064 792 1,295 1,556 5,716 Deferred availability cash items 10,922 759 1,686 625 827 818 1,300 1,733 597 448 749 683 697 Other liabilities and accrtt ed dividends 552 27 135 29 43 40 34 90 21 12 21 24 76 TOTAL LIABILITIES 96,633 4,892 23,057 5,204 7,199 7,324 6,061 15,351 3,844 2,206 4,166 4,381 12,948 CAPITAL ACCOUNTS Capital paid in 762 33 196 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 111 4 26 5 8 8 7 23 3 3 4 5 15 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 98,248 4,963 23,472 5,286 7,344 7,410 6,170 15,603 3,897 2,243 4,235 4,469 13,156 Contingent liability on ace: eptances purchased for fore:L gn correspondents 265 12 2/ 69 14 24 14 18 39 9 6 11 15 34 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,084 14,251 3,319 4,567 5,016 2,994 9,655 2,241 989 2,169 2,262 6,783 Collateral for F. R. notes: Gold certificate account 150 — 300 350 285 700 155 5 U. S. Government securities 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 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 $ 85 million participations of other Federal Reserve Banks. 2/ After deducting $196 million participations of other Federal Reserve Banks. 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 MAY 10, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Dallas York delphia land mond Louis apolis City Francisco 0. n millions of dollars) A S S E TS Gold certificate account 9,475 420 2,237 578 706 814 412 1,450 340 207 353 195 1,763 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 985 126 216 110 43 72 217 38 16 10 32 31 74 Other cash 329 13 25 11 37 40 36 47 20 10 35 15 40 Loans 493 87 370 _ _ 10 20 2 . 4 Acceptances: Bought outright 82 — 82 -- -- — -- -- -- __ .. __ 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 — .- -- -- — -- — -- -- -- -- -i U.S. Government securities: Bought outright-- Bills 30,381 1,430 7,574 1,572 2,327 2,249 1,636 4,983 1,152 609 1,207 1,383 4,259 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/ 70,369 3,313 17,542 3,641 5,390 5,209 3,789 11,542 2,668 1,411 2,797 3,203 9,864 Held under repurchase agreements -- -. -- — -- -- -- -- _- -- -- — — Total U.S. Government securities 70,369 ! 3,313 17,542 3,641 5,390 5,209 3,789 11,542 2,668 1,411 2,797 3,203 9,864 Total loans and securities 71,923 3,446 18,238 3,692 5,465 5,291 3,862 11,705 2,705 1,431 2,840 3,247 10,001 Cash items in process of collection 13,956 863 2,416 805 962 1,072 1,553 2,123 749 531 903 910 1,069 Bank premises 163 2 8 4 27 13 16 17 15 24 17 12 8 Other assets 2/ 1,017 70 239 63 71 72 52 153 37 23 40 45 _152 TOTAL ASSETS 98,248 4,963 23,472 5,286 7,344 7,410 6,170 15,603 3,897 2,243 4,235 4,469 13,156 \j Includes $42 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