H.4.1 Factors Affecting Reserve Balances of Depository Institutions

o* Gow FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release July 13, 1972 The average of daily figures for total reserves of member banks declined $397 million in the latest statement week to $32,790 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined. A more than seasonal increase in float and a decline in other deposits with Federal Reserve Banks were the major factors supplying reserves in the latest statement week. Offsetting these reserve gains were increases in both currency in circulation and Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $698 million reserves net, on a weekly average basis through matched sales-purchase transactions and outright sales of Treasury bills. Excess reserves averaged $272 million and exceeded borrowings by $46 million compared to $72 million in the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 12, * July 5, July 14, July 12,* and related items 1972 1972 1971 1972 Reserve Bank credit: (Iri mil]. ions of dollars) U.S. Government securities- Bought outright--Systern account 70,602 . 732 +4,933 1/2/ 68,429 Held under repurchase agreements 82 + 33 34 — Federal Agency obligations-- Bought outright 1,086 « 11 +1,086 1,086 Held under repurchase agreements 15 + 8 26 — Acceptances- Bought outright 69 . 2 4- 9 66 Held under repurchase agreements 13 + 6 3 — Loans-- Member bank borrowings 226 87 - 765 85 Other Float 3,806 + 709 -1- 627 3,898 Other F.R. assets 1,061 + 51 - 84 1,110 Total Reserve Bank credit 76,961 - 23 +5,745 74,674 Gold stock 10,410 -.- + 78 10,410 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 8,077 + 21 + 647 8,081 95,849 - 1 +6,471 93,565 Currency in circulation 63,005 + 621 +3,823 63,125 Treasury cash holdings 352 - 10 - 108 339 Treasury deposits with F.R. Banks 2,427 + 261 + 649 2,816 Foreign deposits with F.R. Banks 176 - 76 + 14 172 Other deposits with F.R. Banks 599 - 123 - 122 560 Other F.R. liabilities and capital 2,364 - 8 + 100 2,224 68,923 + 665 -44,355 69,236 Member bank reserves: With Federal Reserve Banks 26,927 «. 666 +2,116 24,329 Currency and coin 5,863 + 269 + 420 5,863 Total reserves held 32,790 - 397 +2,536 30,192 Required reserves 32,518 - 284 +2,269 32,518 Excess reserves 272 - 113 + 267 -2,326 NOTE: A net of $209 million of surplus reserves were eligible to be carried forward from the week ended July 5, into the week ending July 12. On July 12, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $29,740 million, an increase of $945 million for the week. _1/ Excludes $2,435 million of scurities sold, and scheduled to be bought back, under matched sale-purchase transactions. 27 Includes $78 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 July 12,** July 5, July 14, 1972 1972 A S S E TS Gold certificate account 10,303 + 228 Special Drawing Rights certif. accts. * 400 Cash (858) 303 2 + 36 Loans 85 429 -1,755 Acceptances--Bought outright 66 1 + 66 Held under repurchase agreements 48 - 57 Federal Agency obligatons--Bought outright 1,086 — +1,086 Held under repurchase agreements 46 U. S. Government securities: Bought outright—Bills 28,331 -3,067 + 284 Certificates Notes 36,596 +2,242 Bonds 3,502 + 267 Total bought outright 1/ 2/ 68,429 -3,067 +2,793 Held under repurchase agreements - 341 Total U.S. Government securities 68,429 -3,408 +2,793 Total loans and securities 69,666 -3,932 +2,133 Cash items in process of collection (3,248) 12,382 +1,045 + 159 Bank premises 163 + 20 Other assets JV 947 + 48 - §2 TOTAL ASSETS (4,106) 94,164 -2,841 +2,509 L I A B IL I T I ES Federal Reserve notes (858) 55,579 + 144 +3, 303 Deposits: Member bank--reserves account 24,249 -4,093 - 715 U. S. Treasurer—general account 2,816 +1,021 + 300 Foreign 172 - 17 + 9 Other 560 - 15 - 134 Total deposits 27,797 -3,104 - 540 Deferred availability cash items (3,248) 8,564 + 309 - 345 Other liabilities and accrued dividends 561 22 + 9 TOTAL LIABILITIES (4,106) 92,501 -2,673 +2, 427 CAJPJETAL A C C O U N TS Capital paid in 774 + 1 + 45 Surplus 742 — + 40 Other capital accounts 147 - 169 - 3 Contingent liability on acceptances purchased for foreign correspondents 265 10 37 * Figures in parentheses are the eliminations made in the consolidating process. J7 Excludes $2,435 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $78 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. ^•Est^^ed (QaUas Qj.^yj.ct) j t MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JULY 12, 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 •ances securities obligations Loans Holdings Weekly Holdings Weekly changes Changes Within 15 days 83 11 1,593 -2,904 7 •45 16 days to 90 days 2 55 16,639 - 179 136 91 days to 1 year — 18,927 - 325 142 - 1 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 85 66 68,429 -3,408 1,086 ^46 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.100 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 12, 1972 New Phila Cleve Rich St. Minne Kansas . ** San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco 0. n millions of dollars) A S S E TS Gold certificate account 10,303 474 2,004 630 948 1,275 487 1,896 432 83 383 194 1,497 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 858 107 192 48 42 82 156 36 19 19 42 37 78 Other cash 303 12 19 10 35 40 35 44 18 8 35 15 32 Loans 85 10 18 -- — * 1 17 2 31 5 1 __ Acceptances: Bought outright 66 — 66 — — — — — -- — — -- — Held under repurchase agreements -- — -- — -- -- -- -- — — -- -- -- Federal Agency obligations-- Bought outright 1,086 51 274 58 83 78 60 176 41 22 44 51 148 Held under repurchase agreements — — -- — — — — -- -- -- — ._ -- U.S. Government securities: Bought outright-- Bills 28,331 1,337 7,145 1,505 2,160 2,038 1,567 4,584 1,076 584 1,155 1 ,320 3,860 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 If 2/ 68,429 3,228 17,258 3,635 5,217 4,924 3,785 11,071 2,599 1,411 2,790 3", 188 9,323 Held under repurchase agreements i — -- -- -- -- -- — -- __ — — — Total U.S. Government securities 68,429 3,228 17,258 3,635 5,217 4,924 3,785 11,071 2,599 1,411 2,790 3"r nnr 9,323 Total loans and securities 69,666 3,289 17,616 3,693 5,300 5,002 3,846 11,264 2,642 1,464 2,839 3 ,240 9,471 Cash items in process of collection 15,630 892 3,036 833 1,111 1,117 1,757 2,426 813 623 962 937 1,123 Bank premises 163 2 8 4 27 13 16 17 15 24 17 12 8 Other assets 3/ 947 69_ 219 54^ 66_ 66 49 136 33_ 22 36 43 154 TOTAL ASSETS 98,270 4,868 23,187 5,295 7,562 7,631 6,368 15,889 3,987 2,250 4,329 4 ,492 12,412 1/ Excludes $2,435 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions, 2/ Includes $78 million securities loaned-fully secured by U.S. Government securities pledged with Federal Reserve Banks. *Less than $500,000. 2J 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 JULY 12, 1972 San New Phila Cleve Rich St. Minne Kansas 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 56,437 2,998 13,866 3,355 4,500 4,963 2,862 9,614 2,207 981 2,183 2,175 6,733 Deposits: Member bank reserves 24,249 847 5,968 945 1,657 1,257 1,740 3,709 893 550 1,083 1,378 4,222 U. S. Treasurer—general account 2,816 135 462 214 244 374 196 257 117 128 159 129 401 Foreign 172 7 1/ 57 8 14 8 11 23 5 4 6 9 20 Other 560 3 505 2 — 16 4 4 — 1 2 2 21 Total deposits 27,797 992 6,992 1,169 1,915 1,655 1,951 3,993 1,015 683 1,250 1,S18 4,664 Deferred availability cash items 11,812 778 1,764 658 954 886 1,402 1,938 689 534 804 677 728 Other liabilities and accrued dividends 561 27 137 29 43 39 41 88 21 15 21 26 74 TOTAL LIABILITIES 96,607 4,795 22,759 5,211 7,412 7,543 6,256 15,633 3,932 2,213 4,258 4,396 12,199 CAPITAL ACCOUNTS Capital paid in 774 34 200 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 147 5 35 7 11 10 9 26 4 2 6 13 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 98,270 4,868 23,187 5,295 7,562 7,631 6,368 15,889 3,987 2,250 4,329 4,492 12,412 Contingent liability on aces eptances purchased for foreign correspondents 265 12 2/ 69 14 24 14 18 39 9 6 11 15 34 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 14,595 3,417 4,658 5,105 3,096 9,844 2,284 1,011 2,266 2,308 7,072 Collateral for F. R. notes: Gold certificate account 300 350 285 — 700 155 5 U. S. Government securities T4 850 3,250 4,400 4,915 3,150 9.300 2.180 1.030 2.300 2.380 7.200 r Total collateral 3,180 14,850 3,550 4,750 5,200 3,150 10,000 2,335 1,030 2,300 2,385 7,200 1/ After deducting $115 million participations of other Federal Reserve Banks. 2/ After deducting $196 million participations of other Federal Reserve Banks. * Estimated (Dallas District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis