H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release August 24, 1972 The average of daily figures for total reserves of member banks declined $489 milllion in the latest statement week to $32,915 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined. An increase in float and declines in currency in circulation and Treasury deposits with Federal Reserve Banks were the major factors supplying reserves in the latest statement week. A decline in other Federal Reserve assets was the only factor draining a significant amount of reserves. In addition, System Open Market operations absorbed $329 million reserves net, on a weekly average basis primarily through outright sales of Treasury bills and matched sales-purchase transactions. Member bank borrowings averaged $350 million and exceeded excess reserves by $219 million compared to $70 million for the previous week. Averages o f daily i: igures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, August 23, Augu st 16, August 25, August 23, and related items 1972 1972 1971 1972 Reserve Bank credit: (Irl mi llions of dollars) U.S. Government securities- Bought outright — System account 70,562 - 191 -+4,209 !1/2/69,795 Held under repurchase agreements — - 117 — -- Federal Agency obligations- Bought outright 1,169 +1,169 1,169 Held under repurchase agreements 6 Acceptances- Bought outright 68 2 15 67 Held under repurchase agreements 17 — ~ Loans-» Member bank borrowings 350 31 • 421 878 Other Float 3,737 + 425 +1,026 3,605 Other F.R. assets 670 » 442 56 727 Total Reserve Bank credit 76,557 « 375 +5,942 76,241 Gold stock 10,410 — + 278 10,410 Special Drawing Rights certif. acct. 400 -« — 400 Treasury currency outstanding 8,151 + 16 + 686 8,152 95,518 - 359 +6,906 95,203 Currency in circulation 62,785 - 136 +3,910 62,766 Treasury cash holdings 315 2 - 164 325 + Treasury deposits with F.R. Banks 1,780 - 352 + 627 1,919 Foreign deposits with F.R. Banks 177 + 10 7 187 Other deposits with F.R, Banks 581 - 30 - 100 573 Other F.R. liabilities and capital 2,289 4- 54 + 36 2,315 67,928 - 449 +4,303 68,085 Member bank reserves: With Federal Reserve Banks 27,590 + 91 +2,604 27,118 Currency and coin 5,325 - 580 + 200 5,325 Total reserves held 32,915 - 489 +2,804 32,443 Required reserves 32,784 - 309 +2,764 32,784 Excess reserves 131 - 180 + 40 ; - 341 NOTE: A net of $132 million of surplus reserves were eligible to be carried forward from the week ended August 16, into the week ending August 23. On August 23, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,671 million, an increase of $91 million for the week. If Excludes $834 million of securities sold, and scheduled to be bought: back, under matched sale-purchase transactions. Ij Includes $50 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 Aug. 23, Aug. 16, Aug. 25, 1972 1972 1971 A S S E TS Gold certificate account 10,303 + 428 Special Drawing Rights certif. accts. * 400 -- -- Cash (1,136) 328 + 3 + 54 Loans 878 + 343 - 925 Acceptances--Bought outright 67 1 + 15 Held under repurchase agreements __ 77 -- Federal Agency obligations—Bought outright 1,169 +1,169 Held under repurchase agreements 29 U. S. Government securities: Bought outright--Bills 29,581 •1,183 + 873 Certificates Notes 36,703 r/+ 96 +2,190 Bonds 3,511 r/+ 20 + 326 Total bought outright 1/ 2/ 69,795 -1,067 +3,389 Held under repurchase agreements — - 649 — Total U.S. Government securities 69,795 -1,716 +3,389 Total loans and securities 71,909 -1,480 +3,648 Cash items in process of collection (3,253) 11,312 -2,024 +1,397 Bank premises 165 + 1 + 19 Other assets 3/ 562 + 50 64 TOTAL ASSETS (4,389) 94,979 -3,450 +5,482 LIABILITIES. Federal Reserve notes (1,136) 55,160 - 248 +3,267 Deposits: Member bank--reserves account 27,038 -1,342 +1,369 U. S. Treasurer--general account 1,919 + 127 + 544 Foreign 187 + 16 + 52 Other 573 85 - 116 Total deposits 29,717 -1,284 +1,849 Deferred availability cash items (3,253) 7,787 -1,967 + 326 Other liabilities and accrued dividends 554 16 31 TOTAL LIABILITIES (4,389) 93,218 •3,515 +5,411 C A P I T AL A £ £ 0 U N T £ Capital paid in 777 2 + 43 Surplus 742 -- + 40 Other capital accounts 242 • 63 - 12 Contingent liability on acceptances purchased for foreign correspondents 286 + 19 + 39 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $834 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2] Includes $50 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies, r/ Revised. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 23, 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 878 24 3,707 -1,568 44 + 14 16 days to 90 days 43 14,477 15 67 - 43 91 days to 1 year — 19,136 - 249 149 -- Over 1 year to 5 years — 24,859 + 78 534 -- Over 5 years to 10 years — 6,102 + 23 227 -- Over 10 years — 1,514 + 15 148 — Total "-"878 67 69,795 •1,716 1,169 - 29 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 AUGUST 23, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Dallas York delphia land mond Louis apolis City Francisco (In millions of dollars) A S S E TS Gold certificate account 10,303 419 1,589 504 605 977 639 2,102 402 251 201 330 2,284 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,136 171 220 46 46 118 189 47 36 32 65 48 118 Other cash 328 15 25 13 37 40 36 45 19 8 38 15 37 Loans 878 115 662 -- -i 39 5 22 2 3 1 7 15 Acceptances: Bought outright 67 -- 67 -- -- -- -- -- -- -- -- — -- Held under repurchase agreements -- — -- — — -- -- -- -- — — — -- Federal Agency obligations-- Bought outright 1,169 54 299 63 89 86 63 187 43 23 51 53 158 Held under repurchase agreements "" -_ -- -- -- -- — -- — — -- — -- U.S. Government securities: Bought outright-- Bills 29,581 1,362 7,557 1,590 2,260 2,169 1,594 4,734 1,100 579 1,279 1,351 4,006 Certificates: Other -- -- -- -- -- — -- -. -- -- -- -- -- Notes 36,703 1,691 9,376 1,973 2,804 2,691 1,979 5,874 1,364 718 1,587 1,676 4,970 Bonds 3,511 162 897 189 268 257 189 562 131 69 152 160 475 Total bought outright 1/ 2/ 69,795 3,215 17,830 3,752 5,332 5,117 3,762 11,170 2,595 r, 366 3,018 3,187 9,451 Held under repurchase agreements -- -- -- -- -- _. _- -- -- -- — -- -- Total U.S. Government securities 69,795 3,215 17,830 3,752 5,332 5,117 3,762 11,170 2,595 r, 366 3,018 3,187 9,451 Total loans and securities 71,909 3,384 18,858 3,815 5,428 5,242 3,830 11,379 2,640 i ,392 3,070 3,247 9,624 Cash items in process of collection 14,565 855 2,577 830 1,014 1,175 1,675 2,227 733 570 928 1,012 969 Bank premises 165 2 8 4 28 13 16 17 15 25 17 12 8 Other assets 3/ 562 50 138 33 36 37 26 73 18 12 21 23 95 TOTAL ASSETS 99,368 4,919 23,508 5,268 7,227 7,638 6,433 15,960 3,878 2 ,297 4,355 4,701 13,184 1/ Excludes $834 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $50 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ 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 23, 1972 New Phila Cleve Rich St. Minne _________ ________ San Total Boston York delphia land mond Atlanta Chicago Louis apolis Kansas Dallas Fran City cisco (In millions of dollars) Federal Reserve notes 56,296 2,967 13,975 3,328 4,489 4,930 2,804 9,617 2,193 978 2,191 2,169 6,655 Deposits: Member bank reserves 27,038 987 6,326 1,036 1,547 1,472 1,981 3,984 885 697 1,130 1,569 5,424 U. S. Treasurer—general account 1,919 114 385 146 119 123 154 176 129 85 161 106 221 Foreign 187 7 1/ 64 9 15 9 11 25 6 4 7 9 21 Other 573 2 517 2 15 5 4 1 2 2 23 Total deposits 29,717 1,110 7,292 1,193 1,681 1,619 2,151 4,189 1,021 786 1,300 1,686 5,689 Deferred availability cash items 11,040 738 1,648 629 856 952 1,325 1,795 585 479 765 728 540 Other liabilities and accnl ed dividends 554 27 138 29 43 40 36 85 20 15 24 25 72 TOTAL LIABILITIES 97,607 4,842 23,053 5,179 7,069 7,541 6,316 15,686 3,819 2,258 4,280 4,608 12,956 CAPITAL ACCOUNTS Capital paid in 777 34 200 39 71 41 54 120 26 18 33 42 99 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 242 9 62 12 19 18 13 43 8 4 10 10 34 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 99,368 4,919 23,508 5,268 7,227 7,638 6,433 15,960 3,878 2,297 4,355 4,701 13,184 Contingent liability on acel eptances purchased for forei- gn 286 13 2/ 74 15 26 15 19 42 10 7 12 16 37 c orrespondents FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 14,704 3,419 4,657 5,132 3,077 9,877 2,319 1,019 2,295 2,322 7,122 Collateral for F. R. notes: Gold certificate account 300 350 285 700 155 -- — 5 U. S. Government securities 3,050 14,850 3,250 4,400 4,915 3,150 9,300 2,230 1,040 2,400 2,380 7,400 Total collateral 3,200 14,850 3,550 4,750 5,200 3,150 10,000 2,385 1,040 2,400 2,385 7,400 1/ After deducting $123 million participations of other Federal Reserve Banks, * Less than $500,000. _2/ After deducting $212 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis