H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Of GOw. FEDERAL RESERVE Factors Affecting Bank Reserves and '•rf*Ati0*S Condition Statement of F.R. Banks H.4.1 For immediate release August 31, 1972 The average of daily figures for total reserves of member banks increased $127 million in the latest statement week to $33,042 million. Required reserves de clined while excess reserves and member bank borrowings at Federal Reserve Banks in creased. Major factors supplying reserves in the latest statement week were declines in both currency in circulation and Treasury deposits with Federal Reserve Banks. Offsetting these reserve gains was a more than seasonal decline in float. In addition, System Open Market operations absorbed $276 million reserves net, on a weekly average basis through outright sales of Treasury bills and Federal Agency obligations. Some reserves were supplied during the week, however, through repurchase agreements. Member bank borrowings averaged $477 million and exceeded excess reserves by $197 million compared to $219 million for the previous week. Averages of daily Jf igures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, Aug. 30,* Aug . 23, Sept. 1, Aug. 30,* and related items 1972 1972 1971 1972 F^eserve Bank credit: (Iri milli ons of dollars) U.S. Government securities — Bought outright--System account 70,267 - 295 +3,632 1/70,313 Held under repurchase agreements 75 + 75 - 42 526 Federal Agency obligations — Bought outright 1,089 . 80 +1,089 1,076 Held under repurchase agreements 17 + 17 10 118 Acceptances- Bought outright 67 _ 1 + 14 67 Held under repurchase agreements 8 + 8 12 58 Loans— Member bank borrowings 477 + 127 • 229 1,330 Other Float 3,227 - 510 + 794 3,141 Other F.R. assets 729 + 59 - 47 764 Total Reserve Bank credit 75,957 - 600 +5,191 77,393 Gold stock 10,410 -- + 278 10,410 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 8,153 + 2 + 678 8 157 J 94,920 - 598 +6,147 96,360 Currency in circulation 62,544 - 241 +3,833 62,774 Treasury cash holdings 316 + 1 - 157 316 Treasury deposits with F.R. Banks 1,609 - 171 + 396 1,406 Foreign deposits with F.R. Banks 183 + 6 11 168 Other deposits with F.R. Banks 584 + 3 - 107 602 Other F.R. liabilities and capital 2,351 + 62 + 27 2,403 67,587 - 341 +3,981 67,669 Member bank reserves: With Federal Reserve Banks 27,333 - 257 +2,166 28,691 Currency and coin 5,709 + 384 + 357 5 709 X Total reserves held 33,042 + 127 +2,523 34,400 Required reserves 32,762 - 22 +2,567 32,762 Excess reserves 280 + 149 - 44 1,638 NOTE: A net of $52 million of surplus reserves were eligible to be carried forward from the week ended August 23, into the week ending August 30. On August 30, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,551 million, a decrease of $120 million for the week. J7 Includes $22 million securities loaned—fully secured by U.S. Government securi ties pledged with Federal Reserve Banks. * Estimated (Cleveland 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) We<I nesday Change since AUJI . 30, Aug. 23, Sept. 1, 1972 ** 1972 1971 A S S E TS Gold certificate account 10,303 — tm + 428 Special Drawing Rights certif. accts. * 400 -- — Cash (1,167) 324 - 4 + 42 Loans 1,330 + 452 + 342 Acceptances--Bought outright 67 — + 15 Held under repurchase agreements 58 + 58 28 Federal Agency obligations — Bought outright 1,076 - 93 +1,076 118 + 118 + 1 Held under repurchase agreements U. S. Government securities: Bought outright—Bills 30,099 + 518 +1,162 Certificates 36,703 — +2,190 Notes Bonds 3.511 -- + 326 Total bought outright 1/ 70,313 + 518 +3,678 Held under repurchase agreements 526 + 526 - 59 Total U.S. Government securities 70,839 +1,044 +3,619 Total loans and securities 73,488 +1,579 +5,025 Cash items in process of collection (3,071) 10,660 - 522 + 504 Bank premises 164 1 + 19 Other assets 2/ 600 + 38 - 83 TOTAL ASSETS (4,238) 95,939 +1.090 +5,935 L I A B I L I T I ES Federal Reserve notes (1,167) 55,150 10 +3,224 Deposits: Member bank--reserves account 28,611 +1,703 +2,823 U. S. Treasurer—general account 1,406 - 513 + 212 Foreign 168 19 + 26 Other 602 + 29 - 80 Total deposits 30,787 +1,200 +2,981 Deferred availability cash items (3,071) 7,599 - 188 - 299 Other liabilities and accrued dividends 578 + 24 41 TOTAL LIABILITIES (4,238) 94,114 +1,026 +5,865 £ A L I 1 A L A C C O U N T S. Capital paid in 778 + 1 + 45 Surplus 742 — + 40 Other capital accounts 305 + 63 15 Contingent liability on acceptances purchased for foreign correspondents 287 42 * Figures in parentheses are the eliminations made in the consolidating process. JL/ Includes $22 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. ** Estimated (Cleveland District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 30, 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 1,330 77 4,999 +1, 292 152 +108 16 days to 90 days 48 14,420 - 57 31 - 36 91 days to 1 year — 18,945 - 191 117 - 32 Over 1 year to 5 years — 24,859 -- 519 - 15 Over 5 years to 10 years -- 6,102 -- 227 — Over 10 years — — 1,514 — 148 — Total 1,330 125 70,839 +1,044 1,194 + 25 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 30, 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 10,303 470 1,872 390 555 960 415 2,230 332 129 248 279 2,423 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,167 181 217 50 56 118 195 52 38 35 67 50 108 Other cash 324 16 25 12 36 40 36 44 19 7 38 14 37 Loans 1,330 127 653 9 223 42 56 126 2 3 10 5 74 Acceptances: Bought outright 67 -- 67 — -- -- -- -- -- -- -- -- -- Held under repurchase agreements 58 -- 58 — -- -- -- -- -- -- -- .. Federal Agency obligations— Bought outright 1,076 50 275 58 82 79 58 172 40 21 46 49 146 Held under repurchase agreements 118 -- 118 — -- -- -- -- -. -- -- -- -- U.S. Government securities: Bought outright-- Bills 30,099 1,386 7,689 1,618 2,299 2,207 1,622 4,817 1,119 589 1,302 1 ,375 4,076 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/ 70,313 3,239 17,962 3,780 5,371 5,155 3,790 11,253 2,614 1,376 3,041 3", 211 9,521 Held under repurchase agreements 526 -- 526 -- -- -- -- -. — .- __ -_ -- Total U.S. Government securities 70,839 3,239 18,488 3,780 5,371 5,155 3,790 11,253 2,614 1,376 3,041 3"'J TT 97521 Total loans and securities 73,488 3,416 19,659 3,847 5,676 5,276 3,904 11,551 2,656 1,400 3,097 3 ,265 9,741 Cash items in process of collection 13,731 804 2,192 829 1,082 1,062 1,527 2,174 713 557 911 928 952 Bank premises 164 2 8 4 28 13 16 17 15 25 17 12 7 Other assets 2/ 600 52 151 40 38 42 28 81_ 19^ B 23 26 87 TOTAL ASSETS 100,177 f 4,964 24,217 5,195 7,504 7,547 6,143 16,219 3,807 2,173 4,416 4 ,588 13,404 \_l Includes $22 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. * Estimated (Cleveland 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 AUGUST 30, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City ** cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 56,317 2,962 13,989 3,327 4,496 4,941 2,796 9,606 2,190 974 2,194 2,170 6,672 Deposits: Member bank reserves 28,611 1,094 7,120 1,099 1,674 1,436 1,867 4,415 879 592 1,244 1,501 5,690 U. S. Treasurer—general account 1,406 81 318 78 105 123 72 94 80 82 109 112 152 Foreign 168 7 1/ 49 8 15 8 11 24 5 4 7 9 21 Other 602 2 539 4 — 14 4 9 * 2 3 2 23 Total deposits 30,787 1,184 8,026 1,189 1,794 1,581 1,954 4,542 964 680 1,363 1,624 5,886 Deferred availability cash items 10,670 712 1,577 557 1,008 884 1,235 1,703 571 468 744 674 537 Other liabilities and accrued dividends 578 26 153 29 43 39 38 85 20 11 37 24 73 TOTAL LIABILITIES 98,352 4,884 23,745 5,102 7,341 7,445 6,023 15,936 3,745 2 ,133 4,338 4,492 13,168 CAPITAL ACCOUNTS Capital paid in 778 34 201 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 305 12 78 16 24 23 16 52 11 5 13 13 42 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 100,177 4,964 24,217 5,195 7,504 7,547 6.143 16.219 3.807 2 • 173 4.416 4.588 13.404 Contingent liability on ace .eptances purchased for forei •gn correspondents 287 13 2/ 75 15 26 15 19 43 10 6 12 16 37 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 14,700 3,409 A,660 5,135 3,072 9,853 2,310 1,017 :,291 2 312 7,118 r Collateral for F. R. notes: Gold certificate account 300 350 285 700 155 5 U. S. Government securities 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 $119 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $212 millun participations of other Federal Reserve Banks. ** Estimated (Cleveland District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis