H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and }f*Au£&?y Condition Statement of F.R. Banks H.4.1 For immediate release August 10, 1972 The average of daily figures for total reserves of member banks declined $30 million in the latest statement week to $33,095 million. Required reserves increased while excess reserves and member bank borrowings at Federal Reserve Banks declined. A seasonal increase in currency in circulation was the major factor absorbing reserves in the latest statement week. An increase in float was the only factor supplying a significant amount of reserves. In addition, System Open Market operations provided $123 million reserves net, on a weekly average basis through outright purchases of Federal Agency obligations and repurchase agreements. Member bank borrowings averaged $287 million and exceeded excess reserves by $197 million compared to $137 million for the previous week. Averages of daily figures Member bank reserves, Week ended Chang e from week ended Wedil esday, Reserve Bank credit, Aug. 9, Aug. 2, Aug. 11, Aug • 9, and related items 1972 1972 1971 1972 Reserve Bank credit: (Irl millions of dollars) U.S. Government securities- Bought outright—System account 70,816 _ 6 +4,944 1/ 70,784 Held under repurchase agreements 134 + 42 - 124 609 Federal Agency obligations- Bought outright 1,151 + 83 +1,151 1,169 Held under repurchase agreements 1 - 7 27 3 Acceptances- Bought outright 67 + 4 + 18 65 16 + 7 + 6 97 Held under repurchase agreements Loans— 287 77 - 306 843 Member bank borrowings Other 3,265 + 93 + 748 3,128 Float 1,265 + 53 + 8 1,320 Other F.R. assets 77,002 + 192 +6,417 78,018 Total Reserve Bank credit 10,410 — + 164 10,410 Gold stock 400 -- — 400 Special Drawing Rights certif. acct. 8,116 + 20 + 663 8,132 Treasury currency outstanding 95,929 + 213 +7,245 96,960 Currency in circulation 62,681 + 233 +3,667 63,020 Treasury cash holdings 330 - 6 - 145 325 Treasury deposits with F.R. Banks 2,531 + 67 +1,374 2,473 Foreign deposits with F.R. Banks 159 + 9 10 156 Other deposits with F.R. Banks 633 + 22 93 562 Other F.R. liabilities and capital 2,379 + 2 27 2,205 68,713 + 327 +4,766 68,741 Member bank reserves: With Federal Reserve Banks 27,216 _ 114 +2,479 28,218 Currency and coin 5,879 + 84 + 286 5,879 Total reserves held 33,095 - 30 +2,765 34,097 Required reserves 33,005 + 107 +2,702 33,005 Excess reserves 90 - 137 + 63 1,092 NOTE: A net of $118 million of surplus reserves were eligible to be carried forward from the week ended August 2, into the week ending August 9. On August 9, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,260 million, an increase of $337 million for the week. 1/ Includes $41 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) W(; dnesday Change since Aug. 9, Aug. 2, Aug. 11, 1972 1972 1971 A S S E TS Gold certificate account 10,303 + 428 Special Drawing Rights certif. accts. * 400 -- -- Cash (986) 323 + 1 + 54 Loans 843 - 430 + 270 Acceptances—Bought outright 65 + 2 + 18 Held under repurchase agreements 97 + 42 + 97 Federal Agency obligations--Bought outright 1,169 + 128 +1,169 Held under repurchase agreements 3 - 45 + 3 U. S. Government securities: Bought outright—Bills 30,686 39 +2,373 Certificates Notes 36,596 __ +2,242 Bonds 3,502 -- + 267 Total bought outright 1/ 70,784 - 39 +4,882 Held under repurchase agreements 609 - 23 + 494 Total U.S. Government securities 71,393 - 62 +5,376 Total loans and securities 73,570 - 365 +6,933 Cash items in process of collection (2,998) 11,117 - 713 + 965 Bank premises 164 -- + 18 Other assets 2/ 1,156 + 87 - 34 TOTAL ASSETS (3,984) 97,033 - 990 +8,364 L I A B I L I T I ES Federal Reserve notes (986) 55,430 + 328 +3,146 Deposits: Member bank—reserves account 28,138 - 844 +4,136 U. S. Treasurer—general account 2,473 + 336 +1,181 Foreign 156 - 12 7 Other 562 - 128 - 178 Total deposits 31,329 - 648 +5,132 Deferred availability cash items (2,998) 8,069 - 455 + 303 Other liabilities and accrued dividends 573 - 2 12 TOTAL LIABILITIES (3,984) 95,401 - "777 +8,569 C A P I T AL A C C O U N TS Capital paid in 775 2 + 43 Surplus 742 -- + 40 Other capital accounts 115 215 - 288 Contingent liability on acceptances purchased for foreign correspondents 265 20 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $41 million securities loaned—fully secured by U.S. Government securi ties pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 9, 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 842 114 6,051 - 124 3 - 45 16 days to 90 days 1 48 15,100 + 11 111 + 12 91 days to 1 year -- 18,972 + 51 149 + 3 Over 1 year to 5 years — 24,108 -- 534 + 59 Over 5 years to 10 years -- 5,913 -- 227 + 30 Over 10 years — — 1,249 — 148 + 24 Total 843 162 71,393 62 1,172 83 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 AUGUST 9, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In milliort s of dollars) A S S E TS Gold certificate account 10,303 580 1*614 500 587 919 370 1,878 507 185 99 385 2,679 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 986 153 210 38 44 100 173 41 22 30 51 41 83 Other cash 323 15 23 11 37 40 36 45 19 7 38 15 37 Loans 843 67 380 37 2 10 56 259 4 4 2 ..„, 22 Acceptances: Bought outright !1 9675 — 65 — — — — -- — -- -- ._ -- Held under repurchase agreements — 97 — — — — — — — -- -- -_ Federal Agency obligations- Bought outright 1,169 54 299 63 89 86 63 187 43 23 51 53 158 Held under repurchase agreements 3 — 3 — — -- -- -- — — — — -- U.S. Government securities: Bought outright- Bills 30,686 1,413 7,839 1,650 2,344 2,250 1,654 4,911 1,141 600 1,327 1 ,402 4,155 Certificates: Other — — — — — — — -- — -- -- ._ -- Notes 36,596 1,686 9,349 1,967 2,796 2,683 1,973 5,857 1,360 716 1,583 1 ,671 4,955 Bonds 3,502 161 895 188 267 257 189 561 130 69 151 160 474 Total bought outright J7 70,784 3,260 18,083 3,805 5,407 5,190 3,816 11,329 2,631 1,385 3,061 T, 233 9,584 Held under repurchase agreements 609 — 609 — — — — — — -- -- -- -- Total U.S. Government securities 71,393 3,260 18,692 3,805 5,407 5,190 3,816 11,329 2,631 1,385 3,061 3";i 33~" 97584 Total loans and securities 73,570 3,381 19,536 3,905 5,498 5,286 3,935 11,775 2,678 1,412 3,114 3 ,286 9,764 Cash items in process of collection 14,115 860 2,204 857 1,005 1,077 1,674 2,205 755 577 927 879 1,095 Bank premises 164 2 8 4 27 13 16 17 15 25 17 12 8 Other assets ^ 1,156 76 292 70 85 82 57 166 39 24 45 48 172 TOTAL ASSETS 2/ 101,017 5,090 23,980 5,408 7,316 7,553 6,283 16,197 4,050 2,267 4,306 4 ,680 13,887 1_/ Includes $41 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 AUGUST 9, 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 56,416 2,979 13,949 3,340 4,502 4,942 2,839 9,616 2,204 980 2,193 2,175 6,697 Deposits: Member bank reserves 28,138 i 1,122 7,015 1,130 1,593 1,394 1,706 4,113 927 625 1,147 1,478 5,888 U. S. Treasurer—general account 2,473 135 404 119 172 210 214 320 150 139 121 229 260 Foreign 156 7 1/ 49 7 13 7 10 22 5 3 6 8 19 Other 562 3 498 3 1 18 4 6 2 1 3 4 19 Total rteposits 31,329 1,267 7,966 1,259 1,779 1,629 1,934 4,461 1,084 768 1,277 1,719 6,186 Deferred availability cash items 11,067 745 1,495 697 845 854 1,359 1,781 687 471 742 671 720 Other liabilities and accrued dividends 573 27 149 30 42 41 40 87 20 11 24 27 75 TOTAL LIABILITIES 99,385 5,018 23,559 5,326 7,168 7,466 6,172 15,945 3,995 2,230 4,236 4,592 13,678 CAPITAL ACCOUNTS Capital paid in 775 34 200 39 71 40 53 120 26 18 33 42 99 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 115 4 28 5 9 9 8 21 4 2 5 5 15 TOTAL LIABILITIES AND 101,017 5,090 23,980 5,408 7,316 7,553 6,283 16,197 4,050 2,267 4,306 4,680 13,887 CAPITAL ACCOUNTS Contingent liability on ace. eptances purchased for foreign correspondent s.._ 265 12 2/ 69 14 24 14 18 39 9 6 11 15 34 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 58,917 3,165 14,701 3,407 4,652 5,110 3,067 9,857 2,302 1,018 2,280 2,299 7,059 Collateral for F. R. notes: Gold certificate account 1,945 150 300 350 285 700 155 5 U. S. Government securities 58,065 3,050 14,850 3,250 4,400 4,915 3,150 9,300 2,230 1,040 2,300 2,380 7,200 Total collateral 60,010 3,200 14,850 3,550 4,750 5,200 3,150 10,000 2,385 1,040 2,300 2,385 7,200 1/ After deducting $107 million participations of other Federal Reserve Banks, 2/ After deducting $196 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis