H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE +mm ^Factors Affecting Bank Reserves and •.f^f Condition Statement of F.R. Banks H.4.1 For immediate release June 1, 1972 The average of daily figures for total reserves of member banks increased $157 million in the latest statement week to $32,864 million. Required reserves and member bank borrowings at Federal Reserve Banks increased while excess reserves declined. A seasonal decline in float and increases in foreign deposits with Federal Reserve Banks and currency in circulation were the major factors absorbing reserves in the latest week. System Open Market operations supplied $234 million reserves net, on a weekly average basis, primarily through repurchase agreements. Member bank borrowings were above the average of recent weeks and exceeded reserves by $121 million. In the previous week excess reserves exceeded borrowings by $86 million. Averages of daily if igures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, May 31, May ^, June 2, May 31, ,„ and related items 1972 " 1972 1971 1972 Reserve Bank credit: (Iri mill ions of dollars) U.S. Government securities- Bought outright—System account 70,388 + 64 +5,611 1/70,492 Held under repurchase agreements 159 + 159 + 86 1,115 Federal Agency obligations-- Bought outright 979 -_ + 979 979 Held under repurchase agreements 4 4 23 25 Acceptances-- Bought outright 79 2 + 16 78 Held under repurchase agreements 9 + 9 28 65 Loans— Member bank borrowings 254 + 191 - 392 1,593 Other Float 3,006 • 405 + 545 2,849 Other F.R. assets 807 + 55 - 116 839 Total Reserve Bank credit 75,683 + 73 +6,676 78,035 Gold stock 10,410 — + 78 10,410 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 8,011 + 3 + 621 8.021 94,504 + 76 +7,375 96,866 Currency in circulation 61,357 + 149 +3,875 61,688 Treasury cash holdings 375 - 5 - 131 365 Treasury deposits with F.R. Banks 2,178 - 87 +1,288 2,144 Foreign deposits with F.R. Banks 323 + 174 + 136 157 Other deposits with F.R. Banks 587 + 30 - 116. 576 Other F.R. liabilities and capital 2,327 + 56 + 23 2,377 67,148 + 318 +5,076 67,307 Member bank reserves: With Federal Reserve Banks 27,356 - 242 +2,299 29,559 Currency and coin 5,508 + 399 + 289 5,508 Total reserves held 32,864 + 157 +2,588 35,067 Required reserves 32,731 + 173 +2,740 32,731 Excess reserves 133 - 16 - 152 2,336 NOTE: A net of $81 million of surplus reserves were eligible to be carried forward from the week ended May 24, into the week ending May 31. On May 31, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,594 million, a decrease of $215 million for the week. 1/ Includes $50 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. * Estimated (Chicago 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 31, *-M May 24, June 2, 1972 1972 1971 A S S E TS Gold certificate account 10,303 + 228 Special Drawing Rights certif. accts. 400 Cash (965) 320 10 + 50 Loans 1,593 +1,277 +1,556 Acceptances--Bought outright 78 + 2 + 16 Held under repurchase agreements 65 + 65 + 56 Federal Agency obligatons--Bought outright 979 + 979 Held under repurchase agreements 25 + 25 23 U. S. Government securities: Bought outright--Bills 30,504 + 168 +3,222 Certificates Notes 36,448 +2,141 Bonds 3,540 + 320 Total bought outright 1/ 70,492 + ' 168 +5,683 Held under repurchase agreements 1,115 +1,115 +1,013 Total U.S. Government securities 71,607 +1,283 +6,696 Total loans and securities 74,347 +2,652 +9,280 Cash items in process of collection (3,325) 10,825 + 177 - 113 Bank premises 163 -- + 24 Other assets 2/ 676 + 33 - 142 TOTAL ASSETS (4,290) 97,034 +2,852 +9,327 Federal Reserve notes (965) 54,245 + 337 +3,334 Deposits: Member bank--reserves account 29,479 +2,344 +5,121 U. S. Treasurer--general account 2,144 - 258 +1,275 Foreign 157 + 9 + 17 Other 576 35 - 175 Total deposits 32,356 +2,060 +6,238 Deferred availability cash items (3,325) 8,056 + 379 - 300 Other liabilities and accrued dividends 576 + 21 + 14 TOTAL LIABILITIES (4,290) 95,233 +2,797 +9,286 £ £ P I T A L A C C O U N TS Capital paid in 768 1 + 44 Surplus 742 -- + 40 Other capital accounts 291 • 56 - 43 Contingent liability on acceptances purchased for foreign correspondents 261 11 * Figures in parentheses are the eliminations made in the consolidating process, \l Includes $50 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. ** (Estimated Chicago District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, May 31, 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 1,591 90 5,059 + 478 60 + 25 16 days to 90 days 2 53 15,894 - 38 78 + 1 91 days to 1 year 19,581 + 843 221 + 34 Over 1 year to 5 years 24,039 -- 409 - 33 Over 5 years to 10 years 5,804 -- 132 - 2 Over 10 years « •- 1,230 — 104 -- Total 1,593 143 71,607 +1,283 1,004 25 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 31, 1972 * New Phila Cleve Rich St. Minne- Kansas San Total Boston Atlanta Chicago Da lias York delphia land mond Louis apo1i s City Francisco (In millions of dollars) A S S E TS Gold certificate account 10,303 364 1,791 577 1,090 737 453 1,792 337 252 280 359 2,271 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 965 123 191 71 49 84 226 40 21 16 41 33 70 Other cash 320 12 20 10 37 39 36 47 18 10 35 16 40 Loans 1,593 258 462 48 65 21 9 417 _- 11 20 _. 282 Acceptances: Bought outright 78 -- 78 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements f 65 -- 65 -- -- -- -- -- -- -- -_ -- -- Federal Agency obligations- Bought outright 979 46 250 51 76 73 53 160 37 20 39 44 130 Held under repurchase agreements 25 -- 25 -- — — — -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills j 30,504 1,449 7,786 1,598 2,364 2 ,278 1,653 4,973 1,139 615 1,227 1 ,387 4,035 Certificates: Other ! -- -- -- -- -- -- — -- -- -- -- -- Notes j 36,448 1,731 9,304 1,910 2,825 2 ,722 1,975 5,942 1,361 734 1,466 1 ,657 4,821 Bonds 3,540 168 904 186 274 265 192 577 132 71 142 161 468 Total bought outright 1/ | 70,492 3,348 17,994 3,694 5,463 ~ ,265 3,820 11,492 2,632 1,420 2,835 3", 205 9,324 Held under repurchase agreements i 1,115 -- 1,115 — -- _- -- -- -- -- -- -- -- Total U.S. Government securities 71,607 3,348 19,109 3,694 5,463 ~ ,265 3,820 11,492 2,632 T7420 27835 I^ 205 9,324 Total loans and securities 74,347 3,652 19,989 3,793 5,604 5 ,359 3,882 12,069 2,669 1,451 2,894 3 ,249 9,736 Cash items in process of collection 14,150 832 2,726 844 1,067 1 ,254 1,466 1,948 716 553 834 853 1,057 Bank premises 163 2 8 4 27 13 16 17 15 24 17 12 8 Other assets 2/ 676 56 170 43 49 48 34 94 23 15 24 30 90 TOTAL ASSETS 101,324 5,064 24,988 5,365 7,956 7 ,570 6,135 16,077 3,814 2,328 4,140 4 ,566 13,321 1/ Includes $50 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. * Estimated (Chicago 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 31, 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 dollars0 L I A B I L I T I ES Federal Reserve notes 55,210 2,932 13,590 3,249 4,424 4,868 2,779 9,456 2,162 960 2,126 2,121 6,543 Deposits: Member bank reserves 29,479 1,029 7,701 1,098 2,145 1,339 1,763 4,545 901 738 1,137 1,605 5,478 U. S. Treasurer—general account 2,144 159 557 184 221 159 139 125 88 129 72 51 260 Foreign 157 7 1/ 50 7 13 7 10 22 5 3 6 8 19 Other 576 2 495 2 -- 14 4 15 3 1 2 3 35 Total deposits 32,356 1,197 8,803 1,291 2,379 1,519 1,916 4,707 997 871 1,217 1,667 5,792 Deferred availability cash items 11,381 828 1,974 704 947 1,041 1,288 1,550 574 444 698 656 677 Other liabilities and accrued dividends 576 28 155 29 45 42 33 88 21 13 23 26 73 TOTAL LIABILITIES 99,523 4,985 24,522 5,273 7,795 7,470 6,016 15,801 3,754 2,288 4,064 4,470 13,085 CAPITAL ACCOUNTS Capital paid in 768 33 200 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 291 12 73 15 23 22 16 47 10 6 11 13 43 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 101,324 5,064 24,988 5,365 7,956 7,570 6,135 16,077 3,814 2,328 4,140 4,566 13,321 Contingent liability on ace: eptances purchased for forei •gn correspondents 261 12 2/ 68 13 24 13 18 39 9 6 11 14 34 FEDERAL RESERVE AGENTS* ACCOUNTS F. R. notes outstanding 57,575 3,073 14,366 3,327 4,596 5,019 2,993 9,645 2,260 987 2,201 2,276 6,832 Collateral for F. R. notes: Gold certificate account 1,945 150 300 350 285 700 155 5 U. S. Government securities 57,235 3,000 14,650 3,150 4,400 4,815 3,100 9,300 2,180 1,010 2,300 2,330 7,000 Total collateral 59,180 3,150 14,650 3,450 4,750 5,100 3,100 10,000 2,335 1,010 2,300 2,335 7,000 \J After deducting $107 million participations of other Federal Reserve Banks, 2/ After deducting $193 million participations of other Federal Reserve Banks. * Estimated (Chicago District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis