H.4.1 Factors Affecting Reserve Balances of Depository Institutions

0*GOV£. FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release July 6, 1972 The average of daily figures for total reserves of member banks increased $888 million in the latest statement week to $33,187 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. Major factors absorbing reserves in the latest statement week were increases in currency in circulation and other deposits with Federal Reserve Banks and a more than seasonal decline in float. These reserve drains were about offset by a decline in Treasury deposits with Federal Reserve Banks. In addition, Open Market Operations supplied $827 million reserves net, on a weekly average basis through outright purchases of Treasury bills and repurchase agreements. Excess reserves averaged $385 million and exceeded borrowings by $72 million. In the previous week borrowings exceeded excess reserves by $10 million. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 5, * June 28, July 7, July 5, * and related items 1972 1972 1971 1972 Reserve Bank credit: (In millions of dollars) U.S. Government securities- Bought outright--System account 71,334 + 804 +5,873 1/71,496 Held under repurchase agreements 49 + 40 - 201 341 Federal Agency obligations- Bought outright 1,097 21 +1,097 1,086 Held under repurchase agreements 7 + 6 - 54 46 Acceptances- Bought outright 71 + 2 + 8 67 Held under repurchase agreements 7 4 26 48 Loans-- 313 + 178 348 514 Member bank borrowings Other Float 3,097 - 390 + 132 3,079 Other F.R. assets 1.010 + 8 - 82 1.064 Total Reserve Bank credit 76,984 + 621 +6,398 77,741 Gold stock 10,410 -- + 78 10,410 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 8.056 - 1 + 625 8.056 95,850 + 620 +7,101 96,607 Currency in circulation 62,384 + 513 +3,713 62,920 Treasury cash holdings 362 + 8 98 367 Treasury deposits with F.R. Banks 2,166 -1, 007 + 631 1,795 Foreign deposits with F.R. Banks 252 + 98 + 82 189 Other deposits with F.R. Banks 722 + 151 + 15 575 Other F.R. liabilities and capital 2.372 + 42 + 65 2.413 68,258 - 195 +4,407 68,259 Member bank reserves: With Federal Reserve Banks 27,593 + 817 +2,695 28,349 Currency and coin 5,594 + 71 + 179 5.594 Total reserves held 33,187 + 888 +2,874 33,943 Required reserves 32,802 + 628 +2,766 32,802 Excess reserves 385 + 260 + 108 1,141 NOTE: A net of $98 million of surplus reserves were eligible to be carried forward from the week ended June 28, into the week ending July 5. On July 5, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,795 million, a decrease of $274 million for the week. 1/ Includes $56 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. * Estimated (Minneapolis and St. Louis districts). 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) ;W ednesday Change since July 5, ** June TBT July 7, 1972 1972 1971 A S S E TS Gold certificate account 10,303 + 228 Special Drawing Rights certif. accts. * 400 •» «• •* •• Cash (829) 306 - 9 + 32 Loans 514 + 39 + 45 Acceptances--Bought outright 67 - 4 + 6 Held under repurchase agreements 48 - 29 + 48 Federal Agency obligatons—Bought outright 1,086 - 32 +1,086 Held under repurchase agreements 46 + 36 + 46 U. S. Government securities: Bought outright—Bills 31,398 + 592 +3,869 Certificates Notes 36,596 __ +2,242 Bonds 3,502 -- + 267 Total bought outright 1/ 71,496 + 592 +6,378 Held under repurchase agreements 341 + 279 + 341 Total U.S. Government securities 71,837 + 871 +6,719 Total loans and securities 73,598 + 881 +7,950 Cash items in process of collection (3,431) 11,058 - 452 + 78 Bank premises 163 -- + 20 Other assets 2/ 901 + 22 - 79 TOTAL ASSETS (4,260) 96,729 + 442 +8,229 LIABILITIES. Federal Reserve notes (829) 55,429 + 760 +3,190 Deposits: Member bank—reserves account 28,269 + 789 +5,324 U. S. Treasurer—general account 1,795 -1, 128 - 270 Foreign 189 - 5 7 Other (3) 575 - 10 - 138 Total deposits (3) 30,828 - 354 +4,909 Deferred availability cash items (3,428) 8,059 - 12 + 38 Other liabilities and accrued dividends 583 - 6 + 35 TOTAL LIABILITIES (4,260) 94,899 + 388 +8,172 C A P I T A_ L A C C O U N TS Capital paid in 773 — ma + 46 Surplus 742 -- + 40 Other capital accounts 315 - 54 29 Contingent liability on acceptances purchased for foreign correspondents 255 27 Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $56 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. (Estimated Minneapolis and St. Louis districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 5, 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 511 63 4,497 - 240 52 + 10 16 days to 90 days 3 52 16,818 + 991 136 + 13 91 days to 1 year 19,252 + 120 143 - 19 MM Over 1 year to 5 years -- 24,108 — 480 -. Over 5 years to 10 years — 5,913 — 197 -- Over 10 years -- — 1,249 — 124 — Total 5*14 115 71,837 + 871 1,132 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 JULY 5, 1972 New Phila Cleve Rich St. * Minne- * Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Da lias Francisc 0! n millions of dollars) A S S E TS Gold certificate account 10,303 668 2,541 458 910 945 427 1,877 419 11 524 199 1,324 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 829 111 180 51 50 71 145 30 17 22 40 38 74 Other cash 306 12 20 11 36 39 35 45 18 9 34 14 33 Loans 514 173 91 20 2 30 88 52 11 31 9 _ — -7 Acceptances: Bought outright 67 -- 67 -- — -- — — — -- -- .- -- Held under repurchase agreements 48 -- 48 -- -- -- — — — -- — -- -- Federal Agency obligations-- Bought outright 1,086 51 276 58 83 78 60 176 41 20 44 51 148 Held under repurchase agreements 46 — 46 — -- — — -- -- -- -- _- _«. U.S. Government securities: Bought outright-- Bills 31,398 1,482 8,036 1,669 2,394 2,259 1,736 5,080 1,192 529 1,280 1 ,464 4,277 Certificates: Other -- -- — — _- -- -- -- — -- -_ -- -- Notes 36,596 1,726 9,230 1,944 2,790 2,634 2,024 5,920 1,390 755 1,492 1 ,705 4,986 Bonds 3,502 165 883 186 267 252 194 567 133 72 143 163 477 Total bought outright 1/ 71,496 3,373 18,149 3,799 5,451 5,145 3,954 11,567 2,715 1,356 2,915 —y ,332 9,740 Held under repurchase agreements 341 -- 341 -- — -- — — — -- — -- -- Total U.S. Government securities 71,837 3,373 18,490 3,799 5>451 5.145 3.954 ll 567 2 715 1.356" 2.915 ZJL 332~ ~~9 j^(T r r r Total loans and securities 73,598 3,597 19,018 3,877 5,536 5,253 4,102 11,795 2,767 1,407 2,968 3 ,383 9,895 Cash items in process of collection 14,489 887 2,756 876 1,029 1,084 1,557 2,151 717 523 907 958 1,044 Bank premises 163 2 8 4 27 13 16 17 15 24 17 12 8 Other assets 2/ 901 65 210 74 61 63 46 129 31 22 36 _!i_ 110 TOTAL ASSETS 100,989 5,365 24,826 5,374 7,682 7,504 6,350 16,114 3,999 2,025 4,541 4 ,672 12,537 \J Includes $56 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. * Estimated (St. Louis and Minneapolis districts). 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 JULY 5, 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 56,258 2,987 13,851 3,330 4,468 4,977 2,867 9,581 2,195 970 2,168 2,161 6,703 Deposits: Member bank reserves 28,269 1,375 7,439 1,086 1,897 1,329 1,804 4,359 973 576 1,258 1,510 4,663 U. S. Treasurer—general account 1,795 77 296 98 154 128 145 112 119 102 246 188 130 Foreign 189 8 1/ 52 10 17 10 13 27 6 4 8 10 24 Other 578 — 515 2 — 12 7 15 1 -- 2 2 22 Total deposits 30,831 1,460 8,302 1,196 2,068 1,479 1,969 4,513 1,099 682 1,514 1,710 4,839 Deferred availability cash items 11,487 810 2,044 724 941 905 1,361 1,644 623 321 759 679 676 Other liabilities and accrued dividends 583 28 153 31 43 41 33 89 21 13 23 26 82 TOTAL LIABILITIES 99,159 5,285 24,350 5,281 7,520 7,402 6,230 15,827 3,938 1,986 4,464 4,576 12,300 CAPITAL ACCOUNTS Capital paid in 773 33 200 39 71 40 53 119 26 18 33 42 99 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 315 13 83 16 23 24 17 57 10 4 12 13 43 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 100,989 5,365 24,826 5,374 7,682 7,504 6,350 16,114. 3,999 2,025 4,541 4,672 12,537 Contingent liability on ace: eptances purchased for foreig n correspondents 255 12 2/ 64 13 24 13 18 38 9 6 11 14 33 FEDERAL RESERVE AGENTS* ACCOUNTS F. R. notes outstanding 14,564 3,403 4,634 5,097 3,058 9,728 2,265 1,007 2,247 2,283 7,022 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 J7 After deducting $137 million participations of other Federal Reserve Banks. 2/ After deducting $191 million participations of other Federal Reserve Banks. * Estimated. (St. Louis and Minneapolis Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis