H.4.1 Factors Affecting Reserve Balances of Depository Institutions

OV ^OW FEDERAL RESERVE Factors Affecting Bank Reserves and '•f^LRE^V Condition Statement of F.R. Banks H.4.1 For immediate release September 14, 1972 The average of daily figures for total reserves of member banks declined $838 million in the latest statement week to $32,562 million. Required reserves increased while excess reserves and member bank borrowings at Federal Reserve Banks declined. Excess reserves were negative, on a weekly average, reflecting in part the unusually large surplus reserve carryover of the previous week. Major factors supplying reserves in the latest statement week were an increase in float and declines in both Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital. Reserves were drained by a seasonal rise in currency in circulation. System Open Market operations absorbed $2,048 million reserves net, on a weekly average basis, primarily through matched sales-purchase transactions. Member bank borrowings averaged $149 million and exceeded excess by $223 million compared to $3 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. 13, Sept. 6, Sept. 15, Sept. 13, and related items 1972 1972 1971 1972 (In millions of dollars) Reserve Bank credit: U.S. Government securities-- Bought outright--System account 8,342 -1,454 +1 ,746 jl/2/ 67,685 Held under repurchase agreements -- - 473 - 411 -- Special Certificates 5 + 5 + 5 __ Federal Agency obligations--Bought outright 1,061 15 +1, 061 1,042 Held under repurchase agreements -- 72 - 75 -- Acceptances-- Bought outright 60 6 + 9 57 Held under repurchase agreements — 33 - 51 — Loans-- Member bank borrowings 149 689 308 147 Other Float 3,824 + 733 + 904 3,740 Other F.R. assets 824 + 48 - 70 874 Total Reserve Bank credit 74,266 -1, 954 +2,811 73,545 Gold Stock 10,410 — + 278 10,410 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 8,177 + 16 + 655 8,179 93,253 -1, 938 +3,743 92,534 Currency in circulation 63,227 + 359 +3,873 63,280 Treasury cash holdings 304 - 2 - 154 325 Treasury deposits with F.R. Banks 162 -1, 053 -1,226 408 Foreign deposits with F.R. Banks 195 + 19 + 56 176 Other deposits with F.R. Banks 589 - 12 - 119 605 Other F.R. liabilities and capital 2,190 - 234 36 2,215 66,667 - 922 +2,393 67,009 Member bank reserves: With Federal Reserve Banks 26,585 -1, 017 +1,349 25,525 Currency and coin 5,977 + 179 + 362 5,977 Total reserves held 32,562 - 838 +1,711 31,502 Required reserves 32,636 + 71 +2,032 32,636 Excess reserves 74 - 909 - 321 -1,134 NOTE: A net of $293 million of surplus reserves were eligible to be carried forward from the week ended September 6, into the week ending September 13. Cn September 13, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,319 million, a decrease of $95 million for the week. 1/ Excludes $1,898 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $19 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 Sept. 13., Sept. 6, Sept. 15, 1972 ' 1972 1971 A S S E TS Gold certificate account 10. 303 -- + 428 Special Drawing Rights certif. accts. 400 -- -- Cash (1.088) 325 + 5 + 40 Loans 147 + 41 - 203 Acceptances--Bought outright 57 - 6 + 7 Held under repurchase agreements Federal Agency obligatonS"Bought outright 1,042 34 +1,042 Held under repurchase agreements U. S. Government securities: Bought outright—Bills 27,471 602 451 Certificates Notes 36,703 -- +2,120 Bonds 3,511 -- + 290 Total bought outright 1/2/ 67,685 - 602 +1,959 Held under repurchase agreements -- — -- Total U.S. Government securities 67,685 - 602 +1,959 Total loans and securities 68,931 - 601 +2,805 Cash items in process of collection (3,218) 12,266 + 725 - 122 Bank premises 166 + 1 + 18 Other assets 2/ 708 + 63 92 TOTAL ASSETS (4,306) 93,099 +_ 193 +3,077 Federal Reserve notes (1,088) 55,644 50 +3,347 Deposits: Member bank--reserves account 25,445 + 429 +1,446 U. S. Treasurer—general account 408 - 163 - 978 Foreign 176 - 8 + 37 Other V (10) 605 - 33 - 162 Total deposits (10) 26,634 + 225 + 343 Deferred availability cash items (3,208) 8,606 + 236 - 618 Other liabilities and accrued dividends 544 + 1 61 TOTAL LIABILITIES (4,306) 91,428 + 412 +3,011 £ L L I 1 A k A £ £ 2 1 ! N li Capital paid in 778 1 + 44 Surplus 742 -- + 40 Other capital accounts 151 - 220 - 18 Contingent liability on acceptances purchased for foreign correspondents 283 8 16 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Excludes $1,898 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $19 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes nsr.cts denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 13. 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 145 10 2,9/h + 794 1 -34 16 days to 90 days 2 47 14,082 -1,098 44 +14 91 days to 1 year — -- 18,152 - 298 127 +10 Over 1 year to 5 years — — 24,859 -- 525 + 6 Over 5 years to 10 years — -- 6,102 -- 197 -30 Over 10 yearn — -- 1,514 — 148 -- Total 147 57 67,685 602 1,042 •34 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 SEPTEMBER 13, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Da lias York delphia land mond Louis apolis City Francisco (In millions of dollars) A S S E TS Gold certificate account 10,303 527 3,136 577 789 829 364 1,333 288 12 358 297 1,793 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,088 180 198 45 46 114 176 51 30 32 73 43 100 Other cash 325 17 24 13 35 39 35 45 19 7 40 14 37 Loans 147 38 44 r - 8 40 6 - Acceptances: Bought outright 57 — 57 - - -- -- -- - Held under repurchase agreements _- -- -- -. -- -- .- -- -- -- — — -- Federal Agency obligations-- Bought outright ' 1,042 47 268 55 80 77 57 167 39 21 43 47 141 Held under repurchase agreements -- -- -- -- -- -- -- -- -- — -- -- — U.S. Government securities: Bought outright-- Bills 27,471 1,230 7,059 1,460 2,109 ? ,041 1,492 4,417 1,025 552 1,131 1 ,248 3,707 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 67,685 3,030 17,393 3,595 5,198 5", 030 3,676 10,882 2,525 r, 361 2,787 3", 074 9,134 Held under repurchase agreements — -- -- — -- -- -- _. -- -_ .- -- -- Total U.S. Government securities 67,685 3,030 17,393 3,595 5,198 r, 030 3,676 10,882 2,525 r, 361 2,787 3~, 074 9,134 Total loans and securities 68,931 3,115 17,762 3,650 5,283 5 112 3,741 11,089 2,564 1 ,382 2,836 3 ,122 9,275 Cash items in process of collection 15,484 ' 929 2,535 895 1,100 1 ,168 1,649 2,465 811 627 983 985 1,337 Bank premises 166 2 8 4 28 13 16 17 15 26 17 12 8 Other assets 1! 708 57 176 43 46 49 34 95 22 17 26 29 114 TOTAL ASSETS 97,405 4,850 23,932 5,250 7,360 7 ,360 6,037 15,165 3,764 2 ,110 4,348 4 ,516 12,713 1/ Excludes $1,898 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. "2/ Includes $19 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. "* Less than $500,000. 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 13, 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 dollars0 L I A B I L I T I ES Federal Reserve notes 56,732 2,986 14,065 3,345 4,524 4,979 2,828 9,676 2,201 981 2,213 2,185 6,749 Deposits: Member bank reserves 2S.44S 986 6,701 1,067 1,666 1 .222 1 .756 3,199 805 546 1,192 1,458 4,847 U. S. Treasurer—general account 408 *j- 408 ">< * =.»- — f • - •-V /V * * J- ~u •/' Foreign 176 7 1/ 57 8 15 8 11 24 5 4 7 9 21 Other 615 3 506 4 -- 21 15 36 1 1 2 2 24 Total deposits 26,644 996 7,672 1,079 1,681 1,251 1,782 3,259 811 551 1,201 1,469 4,892 Deferred availability cash items 11,814 770 1,629 712 962 1,000 1,274 1,887 676 527 841 749 787 Other liabilities and accrued dividends 544 26 133 30 43 40 40 84 20 13 22 24 69 TOTAL LIABILITIES 95,734 4,778 23,499 5,166 7,210 7,270 5,924 14,906 3,708 2,072 4,277 4,427 12,497 CAPITAL ACCOUNTS Capital paid in 778 33 201 39 71 41 54 121 26 18 33 42 99 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 151 5 39 7 11 11 9 27 5 3 6 6 22 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 97,405 4,850 23,932 5,250 7,360 7,360 6,037 15,165 3,764 2,110 4,348 4,516 12,713 Contingent liability on ace. eptancez purchased for forei- gn correspondents 283 13 2/ 73 15 26 15 19 42 10 6 12 16 36 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 14,750 3,423 4,713 5,155 3,078 9,912 2,315 1,020 2,302 2,314 7,175 Collateral for F. R. notes: Gold certificate account 300 350 345 700 155 5 U. S. Government securities 14,850 3.250 4.550 4,915 3,150 9.300 2.230 l 04Q 2,400 2,380 7,400 r Total collateral 3,195 14,850 3,550 4,900 5,260 3,150 10,000 2,385 1,040 2,400 2,385 7,400 \J After deducting $119 million participations of other Federal Reserve Banks, * Less than $500,000. 2/ After deducting $210 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis