H.4.1 Factors Affecting Reserve Balances of Depository Institutions

s>S^i&;- FEDERAL RESERVE Factors Affecting Bank Reserves and ••f^r^e-- Condition Statement of RR, Banks H.4.1 For immediate release June 29, 1972 The average of daily figures for total reserves of member banks declined $303 million in the latest statement week to $32,299 million. Required and excess reserves declined while member bank borrowings at Federal Reserve Banks increased. An increase in Treasury deposits with the Federal Reserve Banks and a seasonal decline in float were the major factors absorbing reserves in the latest statement week. System Open Market operations supplied $341 million reserves net, on a weekly average basis, primarily through outright purchases of Treasury bills. Member bank borrowings were above the average of recent weeks and exceeded excess reserves by $10 million. In the previous week excess reserves exceeded borrowings by $154 million. Averages of daily if igures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, June 28, June 21, June 30, June 28, and related items 1972 1972 1971 1972 Reserve Bank credit: (Irl mill ions of dollars) U.S. Government securities- Bought outright—System account 70,530 + 323 +5,235 1/70,904 Held under repurchase agreements 9 + 9 - 34 62 Federal Agency obligations- Bought outright 1,118 -- +1,118 1,118 Held under repurchase agreements 1 1 - 13 10 Acceptances- Bought outright 69 . 3 + 7 71 Held under repurchase agreements 11 + 11 + 8 77 Loans- Member bank borrowings 135 + 78 - 615 475 Other Float 3,487 mm 222 + 899 3,518 Other F.R. assets 1,002 H- 61 - 45 1,042 Total Reserve Bank credit 76,363 + 259 +6,561 77,277 Gold stock 10,410 -- + 78 10,410 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 8,057 + 2 + 623 8,057 95,230 + 261 +7,262 96,144 Currency in circulation 61,871 - 87 +3,860 62,161 Treasury cash holdings 354 - 1 - 126 357 Treasury deposits with F.R. Banks 3,173 + 738 +1,709 2,923 Foreign deposits with F.R. Banks 154 + 4 - 12 194 Other deposits with F.R. Banks 571 - 4 - 122 585 Other F.R. liabilities and capital 2,330 + 77 + 97 2,365 68,453 + 727 +5,407 68,585 Member bank reserves: With Federal Reserve Banks 26,776 _ 467 +1,855 27,559 Currency and coin 5,523 + 164 + 152 5,523 Total reserves held 32,299 - 303 +2,007 33,082 Required reserves 32,174 - 217 +2,114 32,174 Excess reserves 125 " 86 - 107 908 NOTE: A net of $108 million of surplus reserves were eligible to be carried forward from the week ended June 21, into the week ending June 28. On June 28, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $29,069 million, an increase of $80 million for the week. 1/ Includes $50 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 dol lars) Wednesday Change since June 28, June 21, June 30, 1972 1972 1971 A S S E TS Gold certificate account 10,303 + 228 Special Drawing Rights certif. accts. 400 -- -- Cash (960) 315 1 + 32 Loans 475 + 294 + 29 Acceptances--Bought outright 71 + 5 + 9 Held under repurchase agreements 77 + 77 + 77. Federal Agency obligatons--Bought outright 1,118 -- +1,118 Held under repurchase agreements 10 10 + 10 U. S. Government securities: Bought outright—Bills 30,806 + 524 +2,877 Certificates Notes 36,596 + 148 +2,242 Bonds 3,502 + 52 + 267 Total bought outright 1/ 70,904 + 724 +5,386 Held under repurchase agreements 62 + 62 + 62 Total U.S. Government securities 70,966 + 786 +5,448 Total loans and securities 72,717 +1, 172 +6,691 Cash items in process of collection (3,544) 11,509 -1, 133 + 764 Bank premises 163 -- + 22 Other assets 2/ 879 + 30 66 TOTAL ASSETS (4,504) 96.286 + _&8 +7.671 Federal Reserve notes (960) 54,669 + 135 +3,217 Deposits: Member bank--reserves account 27,479 + 499 +2,929 U. S. Treasurer—general account 2,923 - 31 +1,649 Foreign 194 + 8 5 Other 585 + 31 - 103 Total deposits 31,181 ' + 507 +4,470 Deferred availability cash items (3,544) 8,071 - 649 - 125 Other liabilities and accrued dividends 589 + 27 + 43 TOTAL LIABILITIES (4,504) 94,510 + 20 +7,605 C A P I T AL A C C O U N TS Capital paid in 773 1 + 44 Surplus 742 -- + 40 Other capital accounts 261 - 47 18 Contingent liability on acceptances purchased for foreign correspondents 252 22 * Figures in parentheses are the eliminations made in the consolidating process. 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. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 28, 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 471 97 4,737 + 107 42 10 16 days to 90 days 4 51 15,827 + 165 123 91 days to 1 year 19,132 + 317 162 Over 1 year to 5 years 24,108 + 69 480 Over 5 years to 10 years 5,913 + 109 197 Over 10 years 1,249 +__ 19 124 Total 475 148 70,966 786 1,128 10 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.10>) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 28, 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 10,303 468 1,393 611 708 649 650 1,494 365 184 401 309 3,071 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 960 119 205 59 57 85 171 40 26 20 42 41 95 Other cash 315 12 19 12 36 40 36 47 19 9 35 15 35 Loans 475 155 139 22 2 34 11 40 16 2 23 1 30 Acceptances: Bought outright 71 -- 71 -- -- -- -- -- -- — -- -- -- Held under repurchase agreements 77 -- 77 -- -- -- -- -- -- -T -- — -- Federal Agency obligations-- Bought outright 1,118 53 285 59 87 83 60 182 42 23 45 51 148 Held under repurchase agreements 10 -- 10 -- -- -- -- -- — — -- -- -- U.S. Government securities: Bought outright-- Bills 30,806 1,463 7,864 1,615 2,388 2,300 1,669 5,022 1,150 621 1,239 1 ,400 4,075 Certificates: Other Notes 36,596 1,738 9,342 1,918 2,836 2,733 1,983 5,966 1,367 737 1,471 1 ,664 4,841 Bonds 3,502 166 894 183 271 262 190 571 131 71 141 159 463 Total bought outright 1/ 70,904 3,367 18,100 3,716 " 5,495 5,295 3,842 11,559 2,648 1,429 2,851 —J ,223 9,379 Held under repurchase agreements 62 -- 62 -- -- -- -- -- -- -- -- -- -- Total U.S. Government securities 70,966 3,367 18,162 3,716 5,495 5,295 3,842 11,559 2,648 1,429 2,851 ~~3" ,223 9,379 Total loans and securities 72,717 3,575 18,744 3,797 5,584 5,412 3,913 11,781 2,706 1,454 2,919 3 ,275 9,557 Cash items in process of collection 15,053 898 2,495 802 1,054 1,177 1,604 2,598 766 551 1,005 991 1,112 Bank premises 163 2 8 4 27 13 16 17 15 24 17 12 8 Other assets 2/ 879 64 223 55 62 65 43 125 28 19 31 35 129 TOTAL ASSETS 100,790 5,161 23,180 5,363 7,561 7,477 6,455 16,172 3,940 2,268 4,465 4 ,692 14,056 \J Includes $50 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 JUNE 28, 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 55,629 2,962 13,710 3,283 4,441 4,909 2,802 9,487 2,170 967 2,145 2,138 6,615 Deposits: Member bank reserves 27,479 1,102 6,161 1,149 1,764 1,224 1,807 4,135 876 604 1,143 1,441 6,073 U. S. Treasurer—general account 2,923 203 378 189 222 236 360 215 197 170 165 250 338 Foreign 194 9 1/ 54 10 17 10 13 28 6 4 8 10 25 Other 585 2 522 2 1 13 5 6 1 1 2 2 28 Total deposits 31,181 1,316 7,115 1,350 2,004 1,483 2,185 4,384 1,080 779 1,318 1,703 6,464 Deferred availability cash items 11,615 777 1,730 611 913 947 1,310 1,933 610 470 905 732 677 Other liabilities and accnl ed dividends 589 27 166 29 44 41 40 89 21 13 22 25 72 TOTAL LIABILITIES 99,014 5,082 22,721 5,273 7,402 7,380 6,337 15 ,.893 3,881 2,229 4,390 4,598 13,828 CAPITAL ACCOUNTS Capital paid in 773 34 200 39 71 40 53 119 25 18 33 42 99 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 261 11 66 13 20 19 15 49 9 4 10 11 34 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 100,790 5,161 23,180 5,363 7,561 7,477 6,455 16,172 3,940 2,268 4,465 4,692 14,056 Contingent liability on ace: eptances purchased for forei- gn correspondents 252 11 2/ 65 13 23 13 17 38 9 6 11 14 32 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,128 14,496 3,358 4,633 5,049 3,043 9,701 2,267 1,002 2,240 2,291 6,964 Collateral for F. R. notes: Gold certificate account 300 350 285 700 155 5 U. S. Government securities 14.650 3.150 4.400 4.855 3.100 9.300 2.180 1.030 2.300 2.330 7.200 Total collateral 3,150 14,650 3,450 4,750 5,140 3,100 10,000 2,335 1,030 2,300 2,335 7,200 JL/ After deducting $140 million participations of other Federal Reserve Banks, 2/ After deducting $187 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis