H.4.1 Factors Affecting Reserve Balances of Depository Institutions

of ^ovs FEDERAL RESERVE Factors Affecting Bank Reserves and ''•fWRE^*' Condition Statement of F.R. Banks H.4.1 For immediate release May 18, 1972 The average of daily figures for total reserves of member banks increased $415 million in the latest statement week to $33,201 million. Required reserves increased while excess reserves and member bank borrowings at Federal Reserve Banks declined. Major factors supplying reserves in the latest statement week were an increase in gold stock and a decline in Treasury deposits with Federal Reserve Banks. Partially offsetting these reserve gains were a decline in other Federal Reserve assets and increases in currency in circulation and Treasury cash holdings. In addition, System Open Market operations absorbed $184 million reserves net, on a weekly average basis. Excess reserves averaged $205 million and exceeded borrowings by $166 million compared to $144 million in the previous week. Averages of daily JEi gures Member bank reserves, Week ended Chang; e from week ended Wednesday, Reserve Bank credit, May 17, May 10, May 19, May 17, and related items 1972 1972 1971 1972 Reserve Bank credit: (Irl mil]i ons of dollars) U.S. Government securities- Bought outright--System account 70,369 176 +5,917 JL/70,369 Held under repurchase agreements — -- - 311 -- Federal Agency obligations- Bought outright 979 __ + 979 979 Held under repurchase agreements — -- 41 -- Acceptances- Bought outright 80 8 + 20 79 Held under repurchase agreements -- — 33 -" Loans- Member bank borrowings 39 46 • 267 j 194 Other Float 3,222 _ 10 + 258 3,883 Other F.R. assets 968 - 167 - 141 734 Total Reserve Bank credit 75,657 - 408 +6,381 76,238 Gold stock 10,410 + 470 + 78 10,410 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,987 + 16 + 633 8,000 94,454 + 78 +7,091 95,048 Currency in circulation 61,309 + 299 +4,043 61,419 Treasury cash holdings 861 + 113 + 362 386 Treasury deposits with F.R. Banks 1,658 - 860 + 410 1,491 Foreign deposits with F.R. Banks 140 + 4 22 , 170 Other deposits with F.R. Banks 576 + 2 - 121 569 Other F.R. liabilities and capital 2,210 - 95 + 62 2,234 66,756 - 535 +4,737 66,269 Member bank reserves: With Federal Reserve Banks 27,699 + 615 +2,355 28,779 Currency and coin 5,502 - 200 + 484 5,502 Total reserves held 33,201 + 415 +2,839 34,281 Required reserves 32,996 + 439 +2,736 32,996 Excess reserves 205 - 24 + 103 1,285 NOTE: A net of $111 million of surplus reserves were eligible to be carried forward from the week ended May 10, into the week ending May 17. On May 17, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,849 million, an increase of $68 million for the week. 1/ Includes $28 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 doll,a rs) i Wednesday Change since May 17, May 10, May 19, 1972 1972 1971 A S S E TS Gold certificate account 10,303 + 828 + 228 Special Drawing Rights certif. accts. * 400 -- — Cash (993) 331 + 2 + 61 Loans 194 - 299 - 790 Acceptances—Bought outright 79 - 3 + 20 Held under repurchase agreements -- -- - 89 Federal Agency obligatons—Bought outright 979 — + 979 Held under repurchase agreements -« _- - 97 U. S. Government securities: Bought outright—Bills 30,381 +3,370 Certificates Notes 36,448 — +2,149 Bonds 3,540 + 320 Total bought outright 1/ 70,369 — +5,839 Held under repurchase agreements — — - 521 Total U.S. Government securities /0,369 — +5,318 Total loans and securities 71,621 - 302 +5,341 Cash items in process of collection (3,779) 13,061 +2,187 +1,824 Bank premises 162 1 + 22 Other assets 2/ 572 - 445 - 114 TOTAL ASSETS (4,772) 96,450 +2,269 +7,362 L I A B I L I T I ES Federal Reserve notes (993) 54,029 + 65 +3,563 Deposits: Member bank--reserves account 28,699 +1,892 +2,797 U. S. Treasurer—general account 1,491 -1,195 + 267 Foreign 170 + 49 25 Other 569 - 37 - 77 Total deposits 30,y29 + /09 +2,962 Deferred availability cash items (3,779) 9,258 +1,428 + 800 Other liabilities and accrued dividends 551 1 8 TOTAL LIABILITIES (4,772) 94,767 +2,201 +7,317 C A P I T AL A C C O U N TS Capital paid in 767 5 + 44 Surplus 742 — + 40 Other capital accounts 174 - 39 ••• 63 Contingent liability on acceptances purchased for foreign correspondents 271 +6 + 28 Figures in parentheses are the eliminations made in the consolidating process. JL/ Includes $28 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 17, 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 194 19 4,748 -2,074 35 + 35 16 days to 90 days 60 15,921 + 913 77 - 35 91 days to 1 year — 18,627 +3,787 187 — Over 1 year to 5 years — 24,039 -2,626 442 — Over 5 years to 10 years -- 5,804 -- 134 — Over 10 years -- — 1^230 — 104 -- Total 194 79 70,369 979 -- 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 MAY 17, 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 10,303 431 3,406 421 901 785 236 1,829 261 128 356 264 1,285 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 993 125 216 103 42 76 210 40 18 12 34 30 87 Other cash 331 13 24 12 38 40 37 46 20 10 36 16 39 Loans 194 -- 150 1 -- 16 10 13 __ 1 3 ««, «. ^ Acceptances: Bought outright ! 79 — 79 — — — -- — — — — -- -- 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 30,381 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 T ,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 T /ioT~ 9,864 Total loans and securities 71,621 3,359 18,015 3,693 5,465 5,297 3,852 11,716 2,705 1,432 2,839 3 ,247 10,001 Cash items in process of collection 16,840 1,002 3,084 994 1,153 1,305 1,862 2,596 873 611 973 l ,157 1,230 Bank premises 162 2 8 4 27 13 16 17 15 24 17 12 7 Other assets 2/ 572 54 129 32 40 41 26 80 19 13 20 24 94 TOTAL ASSETS 101,222 5,009 24,975 5,282 7,699 7,593 6,261 16,394 3,926 2,237 4,290 4 ,764 12,792 XI Includes $28 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 17, 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 55,022 2,922 13,519 3,226 4,420 4,874 2,754 9,452 2,161 958 2,105 2,118 6,513 Deposits: Member bank reserves 28,699 1,045 8,003 1,088 1,995 1,291 1,665 4,404 877 678 1,157 1,560 4,936 U. S. Treasurer—general account 1,491 69 309 71 85 160 116 164 108 42 99 119 149 Foreign 170 7 1/ 48 9 15 9 11 24 6 4 7 9 21 Other 569 3 511 3 1 15- 4 3 — -- 2 2 25 Total deposits 30,929 1,124 8,871 1,171 2,096 1,475 1,796 4,595 991 724 1,265 1,690 5,131 Deferred availability cash items 13,037 862 2,015 771 989 1,114 1,566 1,996 697 505 827 840 855 Other liabilities and accrued dividends 551 27 136 29 43 39 33 89 21 12 21 25 76 TOTAL LIABILITIES 99,539 4,935 24,541 5,197 7,548 7,502 6,149 16,132 3,870 2,199 4,218 4,673 12,575 CAPITAL ACCOUNTS Capital paid in 767 34 200 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 174 6 41 8 14 13 10 33 6 4 7 8 24 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 101,222 5,009 24,975 5,282 7,699 7,593 6,261 16,394 3,926 2,237 4,290 4,764 12,792 Contingent liability on ace: eptances purchased for forei- gn correspondents 271 12 2/ 70 14 25 14 19 40 9 6 12 15 35 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 57,497 3,096 14,311 3,323 4,579 5,019 3,007 9,644 2,261 986 2,184 2,267 6,820 Collateral for F. R. notes: Gold certificate account 1,945 150 300 350 285 700 155 5 U. S. Government securities 56,960 3,000 14,450 3,150 4,400 4,815 3,100 9,300 2,180 1,010 2,225 2,330 7,000 Total collateral 58,905 3,150 14,450 3,450 4,750 5,100 3,100 10,000 2,335 1,010 2,225 2,335 7,000 1/ After deducting $122 million participations of other Federal Reserve Banks. After deducting $201 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis