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 October 12, 1972 The average of daily figures for total reserves of member banks declined $26 million in the latest week to $33,744 million. Required reserves declined while excess reserves and member bank borrowings at Federal Reserve Banks increased. A seasonal increase in currency in circulation and an increase in Trea sury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. Partially offsetting this reserve drain was an in crease in float. In addition, System Open Market operations provided $337 million reserves net, on a weekly average basis through outright purchases of Treasury bills and coupon issues. Member bank borrowings averaged $535 million and exceeded excess reserves by $162 million compared to $170 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 11, * Oct . 4, 1 Oct. 13, Oct. 11, * and related items 1972 1972 1 1971 1972 Reserve Bank credit: (Irl millions c> f dollars) U.S. Government securities- Bought outright — System account 70,526 + 620 +2,960 1/ 70,526 Held under repurchase agreements 115 - 269 + 43 — Federal Agency obligations- Bought outright 1,022 11 + 926 1,022 Held under repurchase agreements 20 7 + 6 -- Acceptances- Bought outright: 70 7 + 16 69 Held under repurchase agreements 25 3 + 14 — Loans-- Member bank borrowings 535 97 86 387 Other Float 3,722 + 224 + 919 3,631 Other F.R. assets 1,120 + 52 + 49 1,194 Total Reserve Bank credit 77,155 + 709 +5,019 76,829 Gold stock 10,410 — + 278 10,410 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 8,222 + 24 + 697 8,228 96,187 + 732 +5,994 95,867 Currency in circulation 63,332 + 575 +4,016 63,772 Treasury cash holdings 357 + 1 - 102 361 Treasury deposits with F.R. Banks 1,517 + 211 - 576 1,464 Foreign deposits with F.R. Banks 192 __ + 58 213 Other deposits with F.R. Banks 664 + 1 99 574 Other F.R. liabilities and capital 2,333 + 55 - 46 2,264 68,395 + 843 +3,251 68,648 Member bank reserves: With Federal Reserve Banks 27,792 - 111 +2,742 27,219 Currency and coin 5,952 + 85 + 300 5,952 Total reserves held 33,744 - 26 +3,042 1 33,171 Required reserves 33,371 - 131 +2,718 33,371 Excess reserves 373 + 105 + 324 - 200 NOTE: A net of $107 million of surplus reserves were eligible to be carried forward from the week ended October 4, into the week ending October 11. On October 11, 1972, marketable U.S. Government securities held in cus tody by the Federal Reserve Banks for foreign and international accounts were $30,185 million, an increase of $106 million for the week. 1/ Includes $75 million securities loaned—fully secured by U.S. Government securi ties 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 Oct. 11, Oct. 4, Oct. 13, 1972 1972 1971 A S S E TS Gold certificate account 0,303 — + 428 Special Drawing Rights certif. accts. 400 -- -- Cash (960) 334 - 3 + 30 Loans 387 - 707 - 646 Acceptances--Bought outright 69 + 3 + 16 Held under repurchase agreements — - 111 - 75 Federal Agency obligations—Bought outright 1,022 — + 926 Held under repurchase agreements .._ 94 - 98 U. S. Government securities: Bought outright—Bills 30,196 + 442 + 612 Certificates Notes 36,732 + 29 +2,013 Bonds 3,598 + 87 + 335 Total bought outright 1/ 70,526 + 558 +2,960 Held under repurchase agreements -1,175 - 504 Total U.S. Government securities 70,526 - 617 +2,456 Total loans and securities 72,004 -1,526 +2,579 Cash items in process of collection (3,209) 12,227 - 281 + 750 Bank premises 168 + 1 + 18 Other assets 2/ 1JJ26 + 103 + 67 TOTAL ASSETS (4,169) 96,462 -1,706 +3,872 Federal Reserve notes (960) 56,132 + 665 +3,581 Deposits: Member bank—reserves account 27,139 -2,375 +1,256 U. S. Treasurer—general account 1,464 + 195 - 677 Foreign 213 + 43 + 67 Other 574 - 90 - 162 Total deposits 29,390 -2,227 + 484 Deferred availability cash items (3,209) 8,676 71 - 224 Other liabilities and accrued dividends 588 2 53 TOTAL LIABILITIES (4,169) 94,786 -1,635 +3,788 C A P I T AL A C C O U N TS Capital paid in 779 + 46 Surplus 742 -- + 40 Other capital accounts 155 71 2 Contingent liability on acceptances purchased for foreign correspondents 241 12 11 Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $75 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 11 Includes assets denominated in foreign currencies. Estimated (San Francisco District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 11. 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 378 12 4,135 -1,360 2 •92 16 days to 90 days 9 57 15,432 + 332 23 • 2 91 days to 1 year 18,410 + 337 128 Over 1 year to 5 years 24,895 + 36 524 Over 5 years to 10 years 6,108 + 6 197 Over 10 years — 1,546 + 32 148 Total 387 69 70,526 - 617 1,022 •94 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.Hb) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 11, 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 10,303 507 3,345 712 796 802 347 1,608 389 89 260 142 1,306 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 960 180 184 25 38 84 152 45 17 24 69 39 103 Other cash 334 18 23 13 39 39 37 43 18 8 41 16 39 Loans 387 10 269 -- ' 51 19 2 8 24 __ Acceptances: Bought outright 69 -- 69 -- -- -- -- -- -- _- Held under repurchase agreements -- -- -- — -- -- -- -- -- -- -- — -- Federal Agency obligations-- Bought outright ! 1,022 45 260 55 80 77 54 165 39 20 42 47 138 Held under repurchase agreements -- -- — -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 30,196 1,342 7,689 1,641 2,351 2,268 1,590 4,885 1,140 586 1,238 1,387 4,079 Certificates: Other -- -- -- -- -- -- -- -_ -- -- -- -- -_ Notes 36,732 1,633 9,353 1,996 2,859 2,760 1,934 5,943 1,387 712 1,507 1,686 4,962 Bonds 3,598 160 916 196 280 270 189 582 136 70 148 165 486 Total bought outright \J 70,526 3,135 17,958 3,833 5,490 5,298 3,713 11,410 2,663 r, 368 2,893 3,238 9,527 Held under repurchase agreements -- -- -- -- -- -- -- -- -- — -- ... -- Total U.S. Government securities 70,526 3,135 17,958 3,833 5,490 5,298 3,713 11,410 2,663 . -~,3 68 ~~" 2,893 J, 238 ~~~ 9,527 ~ Tota1 loans and securities 72,004 3,190 18,556 3,888 5,574 5,375 3,818 11,594 2,702 1 ,390 2,943 3,309 9,665 Cash items in process of collection 15,436 860 2,641 967 1,109 1,296 1,451 2,318 735 618 1,105 954 1,382 Bank premises 168 2 8 4 28 13 16 17 15 28 17 12 8 Other assets 2/ 1,026 72 244 62 72 84 51 145 35 22 38 58 143 TOTAL ASSETS 100,631 4,852 25,094 5,694 7,689 7,729 5,894 15,840 3,926 o ,186 4,488 4,544 12,695 1/ Includes $75 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks, 2/ Includes assets denominated in foreign currencies. * Less then $500,000. ** 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 OCTOBER 11, 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 57,092 2,983 14,162 3,365 4,547 5,051 2,868 9,718 2,210 988 2,230 2,199 6,771 Deposits: Member bank reserves 27,139 843 7,735 1,275 1,834 1,319 1,737 3,775 928 611 1,155 1,425 4,502 U. S. Treasurer—general account 1,464 71 247 92 90 182 140 143 68 71 77 44 239 Foreign 213 9 1/ 68 10 18 10 13 29 7 5 8 11 25 Other 574 1 516 2 — 18 5 4 — 1 2 3 22 Total deposits 29,390 924 8,566 1,379 1,942 1,529 1,895 3,951 1,003 688 1,242 1,483 4,788 Deferred availability cash items 11,885 847 1,793 835 1,005 1,016 978 1,820 635 459 922 745 830 Other liabilities and accrued dividends 588 27 144 31 46 42 41 92 22 13 24 27 79 TOTAL LIABILITIES 98,955 4,781 24,665 5,610 7,540 7,638 5,782 15,581 3,870 2,148 4,418 4,454 12,468 CAPITAL ACCOUNTS Capital paid in 779 33 201 39 71 41 54 121 26 18 33 43 99 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 155 4 35 7 10 12 8 27 5 3 5 6 33 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 100,631 4,852 25,094 5,694 7,689 7,729 5,894 ls^a^o^ 3,926 _2,186 4,488 4,544 12,695 Contingent liability on ace: eptances purchased for foreign c orre spondents 241 11 2/ 62 13 22 13 16 _ 36_ -_- .„-_*L _ 6 = _„ _10_ = 13 31 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 59,373 3,172 14,766 3,429 4,719 5,179 3,093 9,913 2,304 1,020 2,297 2,315 7,166 Collateral for F. R. notes: Gold certificate account 2,105 250 300 350 345 700 155 5 U. S. Government securities 58,625 2,960 15,050 3,250 4,550 4,915 3,150 9,300 2,230 1,040 2,400 2,380 7,400 Total collateral 60,730 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 $145 million participations of other Federal Reserve Banks. 2_/ After deducting $179 million participations of other Federal Reserve Banks. * Estimated (San Francisco District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis