H.4.1 Factors Affecting Reserve Balances of Depository Institutions

£te&:- FEDERAL RESERVE Factors Affecting Bank Reserves and ••f^TK^e--' Condition Statement of F.R. Banks H.4.1 For immediate release September 28, 1972 The average of daily figures for total reserves of member banks declined $38 million in the latest statement week to $33,021 million. Required reserves increased while excess reserves and member bank borrowings at Federal Reserve Banks declined. An increase in Treasury deposits with Federal Reserve Banks and a decline in float were the major factors absorbing reserves in the latest statement week. Partially offsetting this reserve drain was a seasonal decline in currency in circulation. In addition, System Open Market operations supplied $635 million reserves net, on a weekly average basis, but some reserves were absorbed late in the statement week through matched sales-purchase transactions. Member bank borrowings averaged $551 million and exceeded excess reserves by $544 million compared to $473 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. 27, Sept. 20 Sept. 29, Sept. 27, and related items 1972 1972 1971 1972 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright--System account 69,348 + 705 +2,329 i/2/68,977 Held under repurchase agreements 69 - 263 Federal Agency obligations-- Bought outright 1,041 + 989 1,041 Held under repurchase agreements 59 Acceptances-- Bought outright 59 4 + 12 60 Held under repurchase agreements 5 39 Loans-- Member bank borrowings 551 168 + 127 842 Other Float 3,815 - 355 + 952 3,738 Other F.R. assets 982 + 83 + 19 1,066 Total Reserve Bank credit 75,795 + 194 +4,065 75,724 Gold stock 10,410 -- + 278 10,410 Special Drawing Rights certif. acct. 400 -_ -. 400 Treasury currency outstanding 8,196 + 8 + 654 8,196 94,801 + 202 +4,997 94,730 Currency in circulation 62,670 - 317 +3,985 62,776 Treasury cash holdings 336 + 17 - 137 347 Treasury deposits with F.R. Banks 1,611 + 936 - 398 1,862 Foreign deposits with F.R. Banks 198 + 9 + 52 183 Other deposits with F.R. Banks 589 - 82 - 129 660 Other F.R. liabilities and capital 2,217 + 65 82 2,215 67,621 + 628 +3,290 68,043 Member bank reserves: With Federal Reserve Banks 27,181 - 425 +1,708 26,688 Currency and coin 5,840 + 387 + 240 5,840 Total reserves held 33,021 - 38 +1,948 32,528 Required reserves 33,014 + 201 +2,284 33,014 Excess reserves 7 - 239 - 336 - 486 NOTE: A net of $139 million of surplus reserves were eligible to be carried forward from the week ended September 20, into the week ending September 27. On September 27, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $29,779 million, a decrease of $194 million for the week. 1/ Excludes $775 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $31 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. 27, Sept. 20, Sept. 29, 1972 1972 1971 A S S E TS Gold certificate account 10,303 + 428 Special Drawing Rights certif. accts. * 400 -- -- Cash (1,273) 335 + 2 + 30 Loans 842 - 910 + 461 Acceptances--Bought outright 60 + 3 + 10 Held under repurchase agreements -- -- - 41 Federal Agency obligations—Bought outright 1,041 -- + 980 Held under repurchase agreements -- -- - 38 U. S. Government securities: Bought outright--Bills 28,763 378 580 Certificates Notes 36,703 — +1,984 Bonds 3,511 — + 248 Total bought outright 1/ 2/ 68,977 - 378 +1,652 Held under repurchase agreements -- — - 237 Total U.S. Government securities 68,977 - 378 +1,415 Total loans and securities 70,920 -1,285 +2,787 Cash items in process of collection (3,577) 11,967 -1,127 +1,526 Bank premises 166 -- + 18 Other assets 3J 900 + 96 + 53 TOTAL ASSETS (4,850) 94,991 -2,314 +4,842 Federal Reserve notes (1,273) 55,154 - 179 +3,346 Deposits: Member bank--reserves account 26,608 -2,549 +1,397 U. S. Treasurer—general account 1,862 + 904 - 159 Foreign 183 11 + 17 Other (31) 660 + 103 - 52 Total deposits (31) 29,313 -1,553 +1,203 Deferred availability cash items (3,546) 8,309 - 636 + 395 Other liabilities and accrued dividends 533 +~ 3 - 49 TOTAL LIABILITIES (4,850) 93,309 -2,365 +4,895 C A P I T AL A C C O U N TS Capital paid in 778 —— t + 44 Surplus 742 -- + 40 Other capital accounts 162 H 51 - 137 Contingent liability on acceptances purchased for foreign correspondents 263 8 Figures in parentheses are the eliminations made in the consolidating process, 1/ Excludes $775 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. y Includes $31 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 27. 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 -ances securities obligations Loans Holdings Weekly Holdings Weekly changes Changes Within 15 days 839 17 4,233 - 570 20 16 days to 90 days 3 43 14,383 + 80 24 91 days to 1 year -- __ 17,886 + 112 127 Over 1 year to 5 years -- -- 24,859 -- 525 Over 5 years to 10 years — -- 6,102 -- 197 Over 10 years — -- 1,514 — 148 Total 842 60 68,977 378 1,041 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1U>) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 27, 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 10,303 591 1,215 572 911 979 497 2,183 399 189 349 404 2,014 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,273 204 229 60 60 119 190 60 34 42 78 51 146 Other cash 335 18 24 13 37 40 37 44 20 8 40 14 40 Loans 842 75 375 59 8 19 32 124 3 3 31 8 105 Acceptances: Bought outright 60 -- 60 -- -- -- -- -- -- -- — -- .- Held under repurchase agreements "" ! -- -- -- -- -- -- -- -- -. -- -- -- Federal Agency obligations- Bought outright 1,041 47 268 55 80 77 57 167 39 21 43 47 140 Held under repurchase agreements -~ — — -- -- -- -- -- -- -- — -- — U.S. Government securities: Bought outright-- Bills 28,763 1,288 7,391 1,528 2,209 2,137 1,562 4,625 1,074 578 1,184 1 ,306 3,881 Certificates: Otner "" -- -- -- -- -- -- -- -- -- -- -- -- 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/ 27 68,977 3,088 17,725 3,663 5,298 5,126 3,746 11,090 2,574 1,387 2,840 3", 132 9,308 Held under repurchase agreements -- -- -- -- -- -. -- -- -- -- -. -- -_ Total U.S. Government securities 68,977 3,088 17,725 3,663 5,298 5,126 3,746 11,090 2,574 1,387 2,840 3~, 132 9,308 Total loans and securities 70,920 3,210 18,428 3,777 5,386 5,222 3,835 11,381 2,616 1,411 2,914 3 ,187 9,553 Cash items in process of collection 15,575 887 2,884 936 1,113 1,181 1,621 2,501 683 637 1,051 906 1,175 Bank premises 166 2 8 4 28 13 16 17 15 26 17 12 8 Other assets ^3/ 900 69 258 52 61 59 42 120 28 18 31 37 125 TOTAL ASSETS 99,872 5,004 23,139 5,437 7,629 7,649 6,260 16,376 3,810 2,338 4,495 4 ,625 13,110 1/ Excludes $775 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $31 million securities loane d--fully secured by U.S. Government securities pledged with Federal Reserve Banks, 3/ Includes assets denominated in foreig n 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 SEPTEMBER 27, 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 56,427 2,961 14,022 3,330 4,504( 4,980 2,797 9,620 2,180 983 2,203 2,174 6,673 Deposits: Member bank reserves 26,608 1,063 5,905 1,108 1,775 1,352 1,898 4,076 879 707 1,200 1,459 5,186 U. S. Treasurer—general account 1,862 123 362 141 134 170 127 192 106 51 96 160 200 Foreign 183 7 1/ 64 8 15 8 11 24 5 4 7 9 21 Other 691 1 501 3 — 22 37 98 4 2 2 2 19 Total deposits 29,344 1,194 6,832 1,260 1,924 1,552 2,073 4,390 994 764 1,305 1,630 5,426 Deferred availability cash items 11,886 753 1,718 734 1,008 987 1,240 2,021 559 542 895 707 722 Other liabilities and accrued dividends 533 24 131 28 41 38 36 84 20 11 21 25 74 TOTAL LIABILITIES 98,190 4,932 22,703 5,352 7,477 7,557 6,146 16,115 3,753 2 ,300 4,424 4,536 12,895 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 162 S W) R 13 13 10 29 • 6 3 6 6 21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 99,872 5,004 23.139 5.437 7.629 7.649 6.260 16.376 3yftin _2H ,338 4,49^ ^,6?s njw Contingent liability on aces eptances purchased for foreign correspondents 263 12 2/ 68 14 24 14 18 39 9 6 11 14 34 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 14,734 3,410 4,699 5,159 3,069 9,900 2,307 1,017 2,296 2,321 7,176 Collateral for F. R. notes: Gold certificate account 300 350 345 700 155 5 U. S. Government securities 15,050 3,250 4,550 4,915 3,150 9,300 2.230 1.040 2.400 2.380 7,409 Total collateral 3,210 15,050 3,550 4,900 5,260 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, 2/ After deducting $ 195 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis