H.4.1 Factors Affecting Reserve Balances of Depository Institutions

o^ t-ow FEDERAL RESERVE JEactors Affecting Bank Reserves and ''^IRSITY OF <fi^0jtjon Statement of F.R. Banks H.4.1 For immediate release July 20, 1972 The average of daily figures for total reserves of member banks increased $543 million in the latest statement week to $33,333 million. Required reserves increased while excess reserves and member bank borrowings at the Federal Reserve Banks declined. An increase in float and declines in both currency in circulation and other Federal Reserve liabilities and capital were the major factors supplying reserves in the latest statement week. In addition, System Open Market operations provided $612 million reserves net, on a weekly average basis through repurchase agreements and outright purchases of Treasury bills. Member bank borrowings averaged $175 million and exceeded excess reserves by $6 million. In the previous week excess reserves exceeded borrowings by $46 million. Averages of daily if igures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, July 19, July 12, July 21, July 19, and related items 1972 1972 1971 1972 * Reserve Bank credit: (Irl millions of dollars) _».- , . , _L_. U.S. Government securities-- Bought outright--System account 70,902 + 300 +5,208 1/70,953 Held under repurchase agreements 329 + 247 - 324 356 Federal Agency obligations-- Bought outright 1,086 --. +1,086 1,086 Held under repurchase agreements 36 - 21 52 48 Acceptances- Bought outright 68 - 1 + 12 67 Held under repurchase agreements 58 + 45 + 34 43 Loans-- Member bank borrowings 175 51 - 946 81 Other Float 3,931 + 125 + 742 4,048 Other F.R. assets 1,115 + 54 - 41 1,153 Total Reserve Bank credit 77,700 + 739 +5,718 77,835 Gold stock 10,410 — + 78 10,410 Special Drawing Rights certif. acct. 400 -- __ 400 Treasury currency outstanding 8,082 + 5 + 642 8,087 96,592 + 743 +6,439 96,732 Currency in circulation 62,829 - 176 +3,874 62,795 Treasury cash holdings 330 - 22 - 140 337 Treasury deposits with F.R. Banks 2,388 - 39 + 786 2,426 Foreign deposits with F.R. Banks 199 + 23 + 33 236 Other deposits with F.R. Banks 621 + 22 - 82 615 Other F.R. liabilities and capital 2,264 - 100 + 81 2,295 68,629 - 294 +4,549 68,704 Member bank reserves: With Federal Reserve Banks 27,963 +1 ,036 +1,889 28,028 Currency and coin 5,370 - 493 + 512 5,370 Total reserves held 33,333 + 543 +2,401 33,398 Required reserves 33,164 + 646 +2,514 33,164 Excess reserves 169 - 103 - 113 234 NOTE: A net of $182 million of surplus reserves were eligible to be carried forward from the week ended July 12, into the week ending July 19. On July 19, 1972, marketable U.S. Government securities held in custoday by the Federal Reserve Banks for foreign and international accounts were $29,869 million, an increase of $129 million for the week. If Includes $52 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Estimated (Boston 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 19, ** July 12, July 21, 1972 1972 1971 A S S E TS Gold certificate account 10,303 — + 228 Special Drawing Rights certif. accts. 400 -- -- Cash (991) 314 + 11 + 40 Loans 81 - 4 -1,482 Acceptances--Bought outright 67 + 1 + 10 Held under repurchase agreements 43 + 43 + 18 Federal Agency obligations--Bought outright 1,086 -- +1,086 Held under repurchase agreements 48 48 27 U. S. Government securities: Bought outright--Bills 30,855 +2, 524 +2,740 Certificates Notes 36,596 +2,242 Bonds 3,502 + 267 Total bought outright 1/ 70,953 4-2,524 +5,249 Held under repurchase agreements 356 + 356 - 545 Total U.S. Government securities 71^309 +2.880 +4.704 Total loans and securities 72,634 +2,968 +4,309 Cash items in process of collection (3,498) 12,855 + 279 +1,691 Bank premises 164 + 1 + 20 Other assets 2/ 989 + 45 68 TOTAL ASSETS (4,489) 97,659 +3,304 +6,220 i l A B I L I T I ES Federal Reserve notes (991) 55,252 - 327 +3,269 Deposits: Member bank--reserves account 27,948 +3,678 + 988 U. S. Treasurer--general account 2,426 - 390 +1,316 Foreign 236 + 64 + 121 Other 615 + 54 83 Total deposits 31, 225 +3, 406 +2,342 Deferred availability cash items (3,498) 8 ,887 + 146 + 525 Other liabilities and accrued dividends 575 + 15 + 7 TOTAL LIABILITIES (4,489) 95,939 +3,2^0 +6,143 £ A JP i T A L A C C O U N TS Capital paid in 774 44 Surplus 742 40 Other capital accounts 204 64 7 Contingent liability on acceptances purchased for foreign correspondents 264 37 Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $52 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. I! Includes assets denominated in foreign currencies. Estimated (Boston District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 19, 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 78 53 5,032 +3, 439 93 + 86 16 days to 90 days 3 57 16,020 - 619 98 - 38 91 days to 1 year 18,987 + 60 142 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 ~5T 110 71,309 +2,880 1,134 + ki Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.Ub) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 19, 1972 •k 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 10,303 500 2,363 516 737 965 381 1,952 254 34 427 110 2,064 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 991 127 202 50 47 103 177 42 27 22 45 49 100 Other cash 314 13 18 11 37 41 35 44 19 9 36 14 37 Loans 81 13 13 _- _- 5 1 3 - 31 4 i 8 Acceptances: Bought outright 67 -- 67 -- -- -- -- -- — — — -- Held under repurchase agreements 43 — 43 — — -- — -- -- — -- — -- Federal Agency obligations— Bought outright 1,086 51 274 58 83 78 60 176 41 22 44 51 148 Held under repurchase agreements 48 -- 48 — -- — — -- -- -- — — — U.S. Government securities: Bought outright-- Bills ! 30,855 1,456 7,781 1,640 2,352 2,220 1,706 4,992 1,172 636 1,258 1 ,438 4,204 Certificates: Otner _- -- -- -- -- -- -- — _- -- -- -- -. 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 JL/ 70,953 3,347 17,894 3,770 5,409 5,106 3,924 11,479 2,695 1,463 2,893 T, 306 9,667 Held under repurchase agreements 356 -- 356 — — -- — -- — — -- -- -- Total U.S. Government securities 71,309 3,347 18,250 3,770 5,409 5,106 3,924 11,479 2,695 1,463 2,893 T^ 306"" 97667 Total loans and securities 72,634 3,411 18,695 3,828 5,492 5,189 3,985 11,658 2,738 1,516 2,941 3 ,358 9,823 Cash items in process of collection 16,353 885 2,712 927 1,256 1,233 1,795 2,609 899 652 971 1 ,107 1,307 Bank premises 1 164 2 8 4 27 13 16 17 15 25 17 12 8 Other assets 2/ 989 69 234 55 70 70 52 146 34 22 38 42 157 TOTAL ASSETS 102,148 5,030 24,325 5,414 7,699 7,650 6,463 16,538 4,001 2,287 4,490 4_, 706 13,545 1/ Includes $52 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. * Estimated (Boston 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 19, 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 56,243 2,986 13,861 3,344 4,491 4,929 2,829 9,607 2,199 979 2,175 2,172 6,671 Deposits: Member bank reserves 27,948 1,090 6,584 1,122 1,828 1,380 1,861 4,367 874 595 1,199 1,498 5,550 U. S. Treasurer--general account 2,426 119 818 118 153 195 130 141 152 107 220 110 163 Foreign 236 9 1/ 88 10 18 10 14 30 7 5 8 11 26 Other 615 -- 555 1 1 18 4 4 8 — 2 2 20 Total deposits 31,225 1,218 8,045 1,251 2,000 1,603 2,009 4,542 1,041 707 1,429 1,621 5,759 Deferred availability cash items 12,385 723 1,830 701 1,011 986 1,463 2,033 683 550 790 795 820 Other liabilities and accrued dividends 575 28 144 31 42 39 47 89 20 13 23 26 73 TOTAL LIABILITIES 100,428 4,955 23,880 5,327 7,544 7,557 6,348 16,271 3,943 2,249 4,417 4,614 13,323 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 204 7 52 10 16 15 12 37 7 3 8 9 28 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 102,148 5,030 24,325 5,414 7,699 7,650 6,463 16,538 4,001 2,287 4,490 4,706 13,545 Contingent liability on ace: eptances purchased for forei. gn 264 12 2/ 68 14 24 14 18 39 9 6 11 15 34 correspondents "~~ FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,178 14,641 3,425 4,654 5,106 3,093 9,871 2,296 1,014 2,272 2,310 7,089 Collateral for F. R. notes: Gold certificate account 150 — 300 350 285 700 155 5 U. S. Government securities 3,050 14,850 3,250 4.400 4.915 3.150 9,300 2,180 1,030 2,300 2,380 7,200 Total collateral 3,200 14,850 3,550 4,750 5,200 3,150 10,000 2,335 1,030 2,300 2,385 7,200 V After deducting $148 million participations of other Federal Reserve Banks. 2/ After deducting $196 million participations of other Federal Reserve Banks. * (Estimated Boston District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis