H.4.1 Factors Affecting Reserve Balances of Depository Institutions

^,"-'^: FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 25, 1972 The average of daily figures for total reserves of member banks declined $494 million in the latest statement week to $32,707 million. Required and excess reserves declined while member bank borrowings at Federal Reserve Banks increased. A decline in Treasury cash holdings and a seasonal increase in float were the major factors supplying reserves in the latest statement week. Offsetting these reserve gains were an increase in Treasury deposits with Federal Reserve Banks and a decline in other Federal Reserve assets. In addition, System Open Market operations absorbed $44 million reserves net, on a weekly average basis. Excess reserves averaged $149 million and exceeded borrowings by $86 million compared to $166 million in the previous week. Averages of daily if igures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, May 24, * May 17, May 26, May 24, * and related items 1972 1972 1971 1972 Reserve Bank credit: (Irl milli ons of dollars) U.S. Government securities- Bought outright--System account 70,324 45 +5,560 1/70,324 Held under repurchase agreements — -- - 143 — Federal Agency obligations- Bought outright 979 -_ + 979 979 Held under repurchase agreements -- -- - 35 — Acceptances- Bought outright 81 1 + 20 76 Held under repurchase agreements -- -- 48 Loans- Member bank borrowings 63 24 • 204 316 Other .. -- -- -- Float 3,409 + 187 + 622 3,042 Other F.R. assets 752 - 216 99 810 Total Reserve Bank credit 75,609 - 48 +6,654 1 75,547 Gold stock 10,410 — + 78 10,410 Special Drawing Rights certif. acct. 400 — -- 400 Treasury currency outstanding 8,008 + 21 + 636 8,009 94,427 - 27 +7,367 94,366 Currency in circulation 61,207 - 102 +4,042 1 61,307 Treasury cash holdings 380 - 481 - 122 383 Treasury deposits with F.R. Banks 2,265 + 607 +1,220 2,402 Foreign deposits with F.R. Banks 149 + 9 38 148 Other deposits with F.R. Banks 557 - 19 - 120 611 Other F.R. liabilities and capital 2,271 + 61 + 46 2.300 66,830 + 74 +5,030 67,151 Member bank reserves: With Federal Reserve Banks 27,598 - 101 +2,338 27,215 Currency and coin 5,109 - 393 + 123 5,109 Total reserves held 32,707 - 494 +2,461 32,324 Required reserves 32,558 - 438 +2,486 32,558 Excess reserves 149 - 56 25 - 234 NOTE: A net of $95 million of surplus res erves were eligible to be carried forward from the week ended May 17 into the week ending May 24. On May 24, 1972, marketable U.S. Government securities held in custody by Federal Reserve Banks for foreign and international accounts were $28,809 million, a decrease of $40 million for the week. \J Includes $43 million securities loaned •fully secured by U.S. Government securities pledged with Federal Reserve Banks. * Estimated (Dallas District). 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 24,"** May 17, May 26, 1972 1972 1971 A £ £ E T S. Gold certificate account 10,303 -- + 228 Special Drawing Rights certif. accts. 400 -- -- Cash (1,024) 330 - 1 + 54 Loans 316 + 122 - 958 Acceptances—Bought outright 76 - 3 + 14 Held under repurchase agreements — -- - 40 Federal Agency obligatons—Bought outright 979 -- + 979 Held under repurchase agreements 39 U. S. Government securities: Bought outright —Bills 30,336 45 +3,099 Certificates Notes 36,448 -- +2,141 Bonds 3,540 -- + 320 Total bought outright 1/ 70,324 - 45 +5,560 Held under repurchase agreements -- -- - 168 Total U.S. Government securities 70,324 45 +5,392 Total loans and securities 71,695 + 74" +5,348 Cash items in process of collection (3,306) 10,830 -2,244 + 869 Bank premises 163 + 1 + 24 Other assets _2/ 647 + 75 - 85 TOTAL ASSETS (4,330) 94,36^8 -2,095 +b,438 Federal Reserve notes (1,024) 53,904 - 125 +3,387 Deposits: Member bank--reserves account 27,135 -1,577 +1,118 U. S. Treasurer--general account 2,402 + 911 +1,515 Foreign 148 22 8 Other V 611 + 42 60 Total deposits 30,296 - 646 +2,565 Deferred availability cash items (3,306) 7,868 -1,390 + 427 Other liabilities and accrued dividends 555 + 4 + 13 TOTAL LIABILITIES (4,330) 92,623 -2,157 +6,392 C A P I T AL A££2Mlil£ 769 2 + 46 Capital paid in 742 -- + 40 Surplus 234 60 - 40 Other capital accounts Contingent liability on acceptances purchased for foreign correspondents 269 2 + 27 * Figures in parentheses are the eliminations made in the consolidating process* JL/ Includes $43 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. ** Estimated (Dallas District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, May 24, 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 314 17 4,581 - 167 35 16 days to 90 days 2 59 15,932 + 11 77 91 days to 1 year — __ 18,738 + 111 187 Over 1 year to 5 years -- -- 24,039 __ 442 Over 5 years to 10 years -- -- 5,804 -- 134 Over 10 years 1,230 -- 104 Total "316 ~76 70,324 - 45 979 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 24, 1972 New Phila Cleve Rich St. Minne Kansas * San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Da lias Francisco (In millions of dollars) A S S E TS l Gold certificate account 10,303 445 3,043 469 958 887 584 1,672 381 196 426 241 1,001 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,024 129 211 89 49 88 214 40 22 14 38 40 90 Other cash 330 13 22 12 38 40 37 47 19 10 35 16 41 Discounts and advances 316 2 278 1 -- 8 -- 5 3 19 .. ._ Acceptances: Bought outright 76 — 76 -- — — -- — -- -- -- -- 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-- Eills 30,336 1,427 7,563 1,570 2,323 2,246 1,634 4,975 1,150 608 1,206 1 ,381 4,253 Certificates: Other i -- — — -- — -- -- — -- -- .. .. 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/ 70,324 3,310 17,531 3,639 5,386 5,206 3,787 11,534 2,666 1,410 2,796 3", 201 9,858 Held under repurchase agreements -- -- — — -- -- -- -- -- -- -- -- -- Total U.S. Government securities 70,324 3,310 17,531 3,639 5,386 5,206 3,787 11,534 2,666 1,410 2,796 T 7201 9,858 Total loans and securities 71,695 3,358 18,129 3,691 5,461 5,286 3,840 11,700 2,703 1,433 2,854 3 ,245 9,995 Cash items in process of collection I 14,136 800 2,388 849 941 1,048 1,529 2,211 746 544 864 1 160 1,056 Bank premises i 163 2 8 4 27 13 16 17 15 24 17 12 8 Other assets 2/ i 647 54 145 38 47 43 31 90 21 21 23 32 102 TOTAL ASSETS : 98,698 4,824 24,039 5,175 7,554 7,441 6,273 15,847 3,922 2,249 4,272 4, 760 12,342 \J Includes $43 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 27 Includes assets denominated in foreign currencies. * Estimated (Dallas district). 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 24, 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 54,928 2,918 13,513 3,234 4,410 4,852 2,736 9,433 2,155 957 2,111 2,112 6,497 Deposits: Member bank reserves 27,135 938 7,250 999 1,851 1,368 1,904 4,068 951 659 1,184 1,421 4,542 U. S. Treasurer—general account 2,402 156 419 200 250 208 168 212 147 124 128 134 256 Foreign 148 6 1/ 45 7 13 7 9 21 5 3 6 8 18 Other 6111 1 557 1 — 14 5 3 - 1 2 1 26 Tptal_jieeqs it s 30,296 1,101 8,271 1,207 2,114 1,597 2,086 4,304 1,103 787 1,320 1,564 4,842 Deferred availability cash items 11,174 701 1,671 616 831 856 1,297 1,750 585 454 746 967 700 Other liabilities and accrued dividends 555 27 134 29 43 40 38 88 21 12 21 25 77 TOTAL LIABILITIES 96,953 4,747 23,589 5,086 7,398 7,345 6,157 15,575 3,864 2,210 4,198 4,668 12,116 CAPITAL ACCOUNTS Capital paid in 769 34 200 39 70 40 53 118 25 17 33 42 98 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 234 9 57 12 18 18 13 43 8 5 9 9 33 TOTAL LIABILITIES AND 98,698 4,824 24,039 5,175 7,554 7,441 6,273 15,847 3,922 2,249 4,272 4,760 12,342 CAPITAL ACCOUNTS Contingent liability on ace. eptances purchased for forei• gn correspondents 269 12 70 14 25 14 18 40 9 6 11 15 35 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 57,502 3,084 14,343 3,322 4,576 5,007 2,999 9,648 2,255 986 2,197 2,254 6,831 Collateral for F. R. notes: Gold certificate account 1,945 150 300 350 285 700 155 5 U. S. Government securities 57,035 3,000 14,450 3,150 4,400 4,815 3,100 9,300 2,180 1,010 2,300 2.330 7.000 Total collateral 58,980 3,150 14,450 3,450 4,750 5,100 3,100 10,000 2,335 1,010 2,300 2,335 7,000 \J After deducting $103 million participations of other Federal Reserve Banks, 2/ After deducting $199 million participations of other Federal Reserve Banks. * Estimated (Dallas district). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis