H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and ?ffcrtt*V Condition Statement of F.R. Banks H.4.1 For immediate release July 27, 1972 The average of daily figures for total reserves of member banks declined $269 million in the latest statement week to $33,064 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined. A seasonal decline in float and an increase in Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest state ment week. Partially offsetting these reserve drains was a seasonal decline in currency in circulation. System Open Market operations absorbed $505 million re serves net, on a weekly average basis, through outright sales of Treasury bills and maturing repurchase agreements. Member bank borrowings averaged $171 million and exceeded excess reserves by $79 million compared to $6 million for the previous week. Averages of: daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 26, July 19, July 28, July 26, and related items 1972 1972 1971 1972 Reserve Bank credit: (Ir\ millions of dollars) U.S. Government securities-- Bought outright — System account 70,830 _ 72 +5,109 1/70,880 Held under repurchase agreements -- - 329 - 267 — Federal Agency obligations — Bought outright 1,079 _ 7 +1,079 1,079 Held under repurchase agreements — 36 67 -- Acceptances- Bought outright 65 , 3 + 8 64 Held under repurchase agreements -- 58 22 -- Loans— Member bank borrowings 171 4 - 374 637 Other Float 3,716 _ 215 + 982 3,597 Other F.R. assets 1,156 + 41 31 1,168 Total Reserve Bank credit 77,017 - 683 +6,417 77,425 Gold stock 10,410 -- + 78 10,410 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 8,089 + 7 + 646 8,093 95,916 - 676 +7,140 96,328 Currency in circulation 62,530 - 299 +3,847 62,582 Treasury cash holdings 335 + 5 - 153 349 Treasury deposits with F.R. Banks 2,533 + 145 +1,150 2,490 Foreign deposits with F.R. Banks 271 + 72 + 134 156 Other deposits with F.R. Banks 584 - 37 - 124 601 Other F.R. liabilities and capital 2,303 + 39 + 67 2,328 68,556 - 73 +4,922 68,506 Member bank reserves: With Federal Reserve Banks 27,360 . 603 +2,218 27,822 Currency and coin 5,704 + 334 + 223 5,704 Total reserves held 33,064 - 269 +2,441 33,526 Required reserves 32,972 - 192 +2,416 ! 32,972 Excess reserves 92 - 77 + 25 554 NOTE: A net of $133 million of surplus reserves were eligible to be carried forward from the week ended July 19, into the week ending July 26. On July 26, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $29,739 million, a decrease of $130 million for the week. 2/ Includes $33 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 dollars) Wednesday Change since July 26, July 19, July 28, 1972 1973. 1971 A S S E TS Gold certificate account 10,303 + 228 Special Drawing Rights certif. accts. * 400 Cash (1, 129) 317 + 3 + 47 Loans 637 + 556 - 145 Acceptances--Bought outright 64 3 + 10 Held under repurchase agreements 43 Federal Agency obligations—Bought outright 1,079 7 +1,079 Held under repurchase agreements 48 U. S. Government securities: Bought outright—Bills 30,782 73 +2,609 Certificates Notes 36,596 +2,242 Bonds 3,502 + 267 Total bought outright 1/ 70,880 - 73 +5,118 Held under repurchase agreements - 356 Total U.S. Government securities 70,880 - 429 +5TTT8" Total loans and securities 72,660 + 26 +6,062 Cash items in process of collection (3 }3 60) 11,656 -1, 348 +1,392 Bank premises 163 - 1 + 19 Other assets 2/ 1,005 + 14 - 56 TOTAL ASSETS (4,4 89) 96,504 ^ ,306 +7,692 kl h.*lk H i ll Federal Reserve notes (1,129) 55,048 - 204 +3,210 Deposits: Member bank—reserves account 27,742 • 272 +3,014 U. S. Treasurer—general account 2,490 h 64 +1,077 Foreign 156 80 + 7 Other 601 ; 14 - 121 Total deposits 30,989 • 302 +3,977 Deferred availability cash items (3,360) 8,139 • 834 + 428 Other liabilities and accrued dividends 545 29_ + 3 : TOTAL LIABILITIES (4,489) 94,721 •1,369 +7,618 C A P I T AL A C C O U N TS Capital paid in 773 1 + 42 Surplus 742 + 40 Other capital accounts 268 »- 6 4 -8 Contingent liability on acceptances purchased for foreign correspondents 262 34 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $33 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2_l Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. „l 9ft 1Q7? T y (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 634 17 4,679 - 353 38 - 55 16 days to 90 days 3 47 15,980 - 40 99 + 1 91 days to 1 year — 18,951 - 36 146 + 4 Over 1 year to 5 years — 24,108 — 475 - 5 Over 5 years to 10 years — 5,913 -- 197 -.- Over 10 years -- 1,249 — 124 -- Total "637 64 70,880 429 1,079 - 55 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 26, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Da Lias Francisco (In millions of dollars) A S S E TS Gold certificate account 10,303 536 2,594 588 834 890 444 1,596 269 52 528 230 1,742 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,129 141 232 61 52 113 185 50 49 29 51 50 116 Other cash 317 13 20 12 36 40 35 45 18 9 37 14 38 Loans 637 9 244 49 2 - 3 193 12 4 34 79 Acceptances: Bought outright 64 -- 64 — -- -- -- — -- .. __ ._ Held under repurchase agreements -- -- -- -- -- -- -- -- -- — -- -- -- Federal Agency obligations- Bought outright 1,079 51 272 57 82 78 60 175 41 22 44 50 147 Held under repurchase agreements | -- -- -- — -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 30,782 1,452 7,763 1,636 2,347 2,215 1,702 4,980 1,169 635 1,255 1 ,435 4,193 Certificates: Other f -- -- — -- -- -- -- — -- -- -- -- 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 3.5P2 Ifii. 883 136 267 252 194 567 133 72 143 163 477 Total bought outright 1/ 70,880 3,343 17,876 3,766 5,404 5,101 3,920 11,467 2,692 T ,462 2,890 3~, 303 9,656 Held under repurchase agreements ~~ -- -- -- -- -- -- _- -- .. r -_ „ _ _ — Total U.S. Government securities 70,980 3,343 17.376 3 r 766 5 r 404 5.101 3.920 ll r 467 2.692 .462 2 r 890 3 r 303 9.656 Total loans and securities 72,660 3,403 18,456 3,872 5,488 5,186 3,983 11,835 2,745 1 ,485 2,938 3 ,387 9,882 Cash items in process of collection 1 15,016 945 2,796 836 995 1,134 1,658 2,293 758 607 906 997 1,091 Bank premises [ 163 2 8 4 27 13 16 17 15 24 17 12 8 Other assets 2/ | 1,005 Z2_ 243 53 73 72 30_ 152 37 22 40 44 137 TOTAL ASSETS 100,993 5,135 24,447 5,454 7,538 7,484 6,393 16,058 3,906 2 ,235 4,532 4 ,748 13,063 1/ Includes $33 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 JULY 26, 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) 1 L I A B I _ L I _ T I _ ES Federal Reserve notes 56,177 2,978 13,892 3,336 4,479 4,943 2,812 9,577 2,203 974 2,171 2,159 6,653 Deposits: Member bank reserves 27,742 ! 1,062 7,034 1,143 1,801 1,341 1,907 4,106 879 601 1,109 1,507 5,252 U. S. Treasurer—general account 2,490 198 501 209 176 131 158 175 125 113 373 195 136 Foreign 156 7 1/ 41 8 14 8 11 23 5 4 7 8 20 Other 601 1 535 2 -- 18 4 4 1 -- 2 5 29 Total deposits 30,989 1,268 8,111 1,362 1,991 1,498 2,080 4,308 1,010 718 1,491 1,715 5,437 Deferred availability cash items 11,499 784 1,848 637 866 907 1,348 1,809 612 491 773 753 671 Other liabilities and accrued dividends 545 27 134 28 42 39 35 86 21 13 22 26 72 TOTAL LIABILITIES 99,210 5,057 23,985 5,363 7,378 7,387 6,275 15,780 3,846 2,196 4,457 4,653 12,833 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 268 11 69 14 21 19 15 48 9 4 10 12 36 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 100,993 5,135 24.447 5.454 7.538 7.484 6.393 16.058 3.906 2.235 4,532 4.748 13,063 Contingent liability on ace. eptances purchased for foreig n correspondents 262 11 2U*. 14 24 14 18 39 9 6 11 14 3Jt FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 58,866 3,165 14,605 3,429 4,638 5,125 3,082 9,850 2,304 1,012 2,270 2,306 7,080 Collateral for F. R. notes: Gold certificate account 1,945 150 300 350 285 700 155 C U. S. Government securities 57,855 3,050 14,850 3,250 4,400 4,915 3,150 9,300 2,230 1.030 2.300 2.380 7.000 Total collateral 59,800 3,200 14,850 3,550 4,750 5,200 3,150 10,000 2,385 1,030 2,300 2,385 7,000 1/ After deducting $115 million participations of other Federal Reserve Banks. ±J After deducting $194 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis