H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Of GOV/£, *:•. FEDERAL RESERVE Factors Affecting Bank Reserves and '••?«??: Condition Statement of F.R. Banks H.4.1 For immediate release September 7, 1972 The average of daily figures for total reserves of member banks increased $358 million in the latest statement week to $33,400 million. Required reserves declined while excess reserves and member bank borrowings at Federal Reserve Banks increased. A decline in Treasury deposits with Federal Reserve Banks was the major factor supplying reserves in the latest statement week. Offsetting this reserve gain was an increase in currency in circulation and a decline in float. In addi tion, System Open Market operations absorbed $7 million reserves net, on a weekly average basis through outright sales of Treasury bills and matched sales-purchase transactions. Some reserves were supplied during the statement week, however, through repurchase agreements. Member bank borrowings averaged $838 million and exceeded excess reserves by $3 million compared to $197 million for the previous week. Averages of daily figures Member bank reserves, Week ended [Change from week ended Wednesday, Reserve Bank credit, Sept. 6,* Aug. 30, Sept. 8, Sept. 6,* and related items 1972 1972 1971 1972 Reserve Bank credit: (In millions of dollars) U.S. Government securities — Bought outright—System account 69,796 471 +3,070 1/2/68,287 Held under repurchase agreements 473 + 398 + 138 Federal Agency obligations — Bought outright 1,076 13 +1,076 1,076 Held under repurchase agreements 72 55 - 23 Acceptances- Bought outright 66 1 + 13 63 Held under repurchase agreements 33 + 25 21 Loans- Member bank borrowings 838 + 361 73 106 Other Float 3,088 139 + 494 3,228 Other F.R. assets 776 47 - 41 810 Total Reserve Bank credit 76,217 260 +4,778 73, 570 Gold stock 10,410 + 278 10, 410 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 8,161 8 + 667 8 ,162 95,188 + 268 +5,723 $2, 542 Currency in circulation 62,868 + 324 +3,805 63, 339 Treasury cash holdings 306 10 - 158 304 Treasury deposits with F.R. Banks 1,215 - 394 - 103 571 Foreign deposits with F.R. Banks 176 7 + 11 184 Other deposits with F.R. Banks 598 + 14 - 113 615 Other F.R. liabilities and capital 2,424 + 73 + 2j2 2 ,433 67,586 +3,462 67 ,446 Member bank reserves: With Federal Reserve Banks 27,602 + 269 +2,261 25 ,096 Currency and coin 5,798 + 89 + 284 5 J98 Total reserves held 33,400 + 358 +2,545 30,894 Required reserves 32,565 - 197 +1,915 32,565 Excess reserves 835 + 555 + 630 -1,671 NOTE: A net of $130 million of surplus reserves were eligible to be carried forward from the week ended August 30, into the week ending September 6. On September 6, 1972, marketable U.S. Government securities held in cus tody by the Federal Reserve Banks for foreign and international accounts were $30,414 million, a decrease of $137 million for the week. \j Excludes $1,620 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $26 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. * Estimated (San Francisco 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 Sept. 6, Aug. 30, Sept. 8, 1972 ** 1972 1971 A S S E TS Gold certificate account 10,303 + 428 Special Drawing Rights certif. accts. * 400 Cash (1,057) 320 4 + 42 Loans 106 -1,224 - 233 Acceptances—Bought outright 63 4 + 11 Held under repurchase agreements 58 83 Federal Agency obligations—Bought outright 1,076 +1,076 Held under repurchase agreements - 118 - 188 U. S. Government securities: Bought outright—Bills 28,073 -2,026 - 864 Certificates Notes 36,703 +2,120 Bonds 3,511 + 290 Total bought outright 1/ 2/ 68,287 •2,026 +1,546 Held under repurchase agreements • 526 - 554 Total U.S. Government securities 68,287 -2,552 + 992 Total loans and securities 69,532 -3,956 +1,575 Cash items in process of collection (3,135) 11,476 + 950 +1,425 Bank premises 165 + 1 + 18 Other assets 3y 645 + 43 - 65 TOTAL ASSETS (4,192) 92,841 •2,966 +3,423 t i A i i i i i i ni (1,057) 55,694 + 549 +3,222 Federal Reserve notes 25,016 -3,595 + 22 Deposits: Member bank—reserves account 571 - 835 - 614 U. S. Treasurer—general account 184 + 16 + 32 Foreign 615 + 13 - 118 Other 26,386 -4,401 - 678 Total deposits (3,135) 8,328 + 855 + 873 Deferred availability cash items 543 34 64 Other liabilities and accrued dividends (4,192) 90,951 -3,031 +3,353 TOTAL LIABILITIES C A P I T A^L A C C O U N TS Capital paid in 777 1 + 43 Surplus 742 — + 40 Other capital accounts 371 (- 66 13 Contingent liability on acceptances purchased for foreign correspondents 291 22 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $1,620 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $26 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. ** Estimated (San Francisco District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 6. 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 105 17 2,182 -2,817 35 -117 16 days to 90 days 1 46 15,180 + 760 30 - 1 91 days to 1 year — — 18,450 - 495 117 -- Over 1 year to 5 years — — 24,859 -- 519 — Over 5 years to 10 years — — 6,102 — 227 -- Over 10 years _-.!* -- 1,514 — 148 — Total 106 63 68,287 •2,552 1,076 -118 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 SEPTEMBER 6, 1972 New Phila Cleve Rich St. Minne Kansas San * Total Boston Atlanta Chicago Dallas York delphia land mond Louis apolis City Francisco (]. n millions of dollars) A S S E TS Gold certificate account 10,303 535 4,245 507 606 794 246 1,757 397 147 245 314 510 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,057 178 188 50 50 104 179 50 29 35 70 41 83 Other cash 320 17 24 12 35 40 35 45 19 7 36 14 36 Loans 106 9 22 2 3 * 45 13 4 2 6 — -- Acceptances: Bought outright 63 — 63 — -- -- -- -- -- -- -- -- -- Held under repurchase agreements — I _- -- -- -- -- -- "- -" -" -- -" "" Federal Agency obligations-- Bought outright 1,076! 48 277 57 83 80 58 173 40 22 44 49 145 Held under repurchase agreements ! -- -- .. -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 28,073 1,257 7,214 1,492 2,155 2,086 1,524 4,514 1,048 564 1,156 1,275 3,788 Certificates: Other .- -- • - -- -- .. -- -- .. -- -- -- -- Notes 36,703' 1,643 9,432 1,949 2,819 2,728 1,993 5,901 1,369 738 1,511 1,667 4,953 Bonds 3,511 157 902 186 270 261 191 564 131 71 145 159 474 Total bought outright 1/ y 68,287 3,057 17,548 3,627 5,244 5,075 3,708 10,979 2,548 1,373 2,812 3,101 9,215 Held under repurchase agreements -. »- -- -- — -_ -. — — — — — -- Total U.S. Government securities 68,287 3,057 17,548 3,627 5,244 5,075 3,708 10,979 2,548 1,373 2,812 3,101 9,215 Total loans and securities 69,532j 3,114 17,910 3,686 5,330 5,155 3,811 11,165 2,592 1,397 2,862 3,150 9,360 Cash items in process of collection 14,611! 833 2,538 879 1,021 1,288 1,561 2,196 682 569 872 806 1,366 Bank premises 165 2 8 4 28 13 16 17 15 25 17 12 8 Other assets 3/ 645 53 166 43 42 45 33_ 88 21 17 24 36 77 TOTAL ASSETS 97,033 4,755 25,172 5,204 7,145 7,475 5,903 15,388 3,770 2,204 4,141 4,387 11,489 1/ Excludes $1,620 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions, 1/ Includes $26 million securities loaned-fully secured by U.S. Government securities pledged with Federal Reserve Banks. J/ Includes assets denominated in foreign currencies. "" * Estimated (San Francisco 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 SEPTEMBER 6, 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 56,751 2,982 14,093 3,341 4,513 4,984 2,836 9,673 2,202 978 2,207 2,183 6,759 Deposits: Member bank reserves 25,016 838 7,433 996 1,501 1,265 1,621 3,657 932 714 1,099 1.433 3,527 U. S # Treasurer—general account 571 571 * * * * JU * * •/V i? * Foreign 184 8 1/ 54 9 16 9 12 26 6 4 7 10 23 Other 615 1 544 4 — 23 5 4 1 * 2 4 27 Total deposits 26,386 847 8,602 1,009 1,517 1,297 1,638 3,687 939 718 1,108 1,447 3,577 Deferred availability cash items 11,463 818 1,850 729 905 1,047 1,272 1,648 545 454 726 634 835 Other liabilities and accrued dividends 543 26 136 29 42 40 33 86 20 13 21 24 73 TOTAL LIABILITIES 95,143 4,673 24,681 5,108 6,977 7,368 5,779 15,094 3,706 2,163 4,062 4,288 11,244 CAPITAL ACCOUNTS Capital paid in 111 33 201 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 371 15 97 19 29 28 20 63 13 6 14 16 51 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 97,033 4,755 25,172 5,204 7,145 7,475 5,903 15,388 3,770 2,204 4,141 4,387 11,489 Contingent liability on acet eptances purchased for fored- gn correspondents 291 13 2/ 76 15 26 15 20 43 10 7 12 16 38 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 14,733 3,422 4,725 5,148 3,085 9,907 2,312 1,016 2,298 2,305 7,168 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 3,195 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 $130 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $215 million participations of other Federal Reserve Banks. ** Estimated (San Francisco District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis