H.4.1 Factors Affecting Reserve Balances of Depository Institutions

o!^£v^ FEDERAL RESERVE Factors Affecting Bank Reserves and ••f'WRE^V Condition Statement of F.R. Banks H.4.1 For immediate release October 19, 1972 The average of daily figures for total reserves of member banks in creased $352 million in the latest week to $34,096 million. Required reserves increased while excess reserves and member bank borrowings at Federal Reserve Banks declined. A more than seasonal increase in float and a decline in Treasury de posits with Federal Reserve Banks were the major factors supplying reserves in the latest statement week. Reserves were absorbed by a seasonal rise in cur rency in circulation. In addition. System Open Market operations absorbed $428 million reserves net, on a weekly average basis through outright sales of Trea sury bills and matched sales-purchase transactions. Member bank borrowings aver aged $433 million and exceeded excess reserves by $324 million compared to $162 million for the previous week. Averages of daily figures Member bank reserves, Week ended Chan ge from wee k ended Wednesday, Reserve Bank credit, Oct. 18, Oct . 11, Oct. 20, Oct. 18, and related items 1972 1972 1971 1972 Reserve Bank credit: (Irl millions of dol iars) U.S. Government securities-- Bought outright--System account 70,257 . 269 4-2, 857 1/2/69,767 Held under repurchase agreements -- - 115 - 265 -- Federal Agency obligations-- Bought outright 1,022 _ — 4- 926 1 1,022 Held under repurchase agreements -- 20 - 49 "" Acceptances- Bought outright 71 4- 1 4- 19 71 Held under repurchase agreements -- - 25 - 32 — Loans- Member bank borrowings 433 102 + 101 426 Other Float 4,527 + 808 + 942 4,778 Other F.R. assets 1,203 + 83 + 90 1,271 Total Reserve Bank credit 77,514 + 361 +4 ,589 77,335 Gold stock 10,410 -- 4- 278 10,410 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 8,230 + 8 + 681 8,232 96,554 4- 370 +5 ,548 96,377 Currency in circulation 63,616 + 284 4-4, 269 63,667 Treasury cash holdings 359 + 2 - 101 376 Treasury deposits with F.R. Banks 1,033 - 484 -1 ,084 1,140 Foreign deposits with F.R. Banks 199 + 7 4- 54 228 Other deposits with F.R. Banks 624 - 40 - 106 645 Other F.R. liabilities and capital 2,290 - 41 + 38 2,308 68,121 - 271 +3 ,069 68,364 Member bank reserves: With Federal Reserve Banks 28,433 4- 641 +2 ,479 28,013 Currency and coin 5,663 - 289 4- 546 5,663 Total reserves held 34,096 + 352 4-3, 025 33,676 Required reserves 33,987 + 616 4-3, 126 33,987 Excess reserves 109 - 264 - 101 -311 NOTE: A net of $183 million of surplus reserves were eligible to be carried forward from the week ended October 11, into the week ending October 18. On October 18, 1972, marketable U.S. Government securities held in cus tody by the Federal Reserve Banks for foreign and international accounts were $30,581 million, an increase of $396 million for the week. JL/ Excludes $638 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $52 million securities loaned--fully secured by U.S. Government securi ties 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 Oct. 18, Oct. 11J Oct. 20, 1972 1972 1971 A S S E TS Gold certificate account 10,303 — + 428 Special Drawing Rights certif. accts. * 400 — -- Cash (1,017) 336 + 2 + 25 Loans 426 + 39 - 69 Acceptances--Bought outright 71 + 2 + 20 Held under repurchase agreements Federal Agency obligatons--Bought outright 1,022 + 926 Held under repurchase agreements U. S. Government securities: Bought outright—Bills 29,437 759 + 827 Certificates Notes 36,732 +2,013 Bonds 3,598 + 335 Total bought outright 1/ 2/ 69,767 759 +3,175 Held under repurchase agreements Total U.S. Government securities 69,767 759 +3,175 Total loans and securities 71,286 - 718 +4,052 Cash items in process of collection (3,715) 13,924 +1 ,818 +1,786 Bank premises 168 -- + 19 Other assets 3l 1,103 + 77 + 82 TOTAL ASSETS (4,732) 97,520 +1.d ll +6,392 L I A B I L I T I ES Federal Reserve notes (1,017) 56,040 92 +3,741 Deposits: Member bank—reserves account 27,933 + 794 +3,398 U. S. Treasurer—general account 1,140 - 324 -1,008 Foreign 228 + 15 + 99 Other (19) 645 + 71 - 56 Total deposits (19) 29,946 + 556 +2,433 Deferred availability cash items (3,696) 9,226 + 654 + 155 Other liabilities and accrued dividends 579 TOTAL LIABILITIES (4,732) 95,791 +1,113 +6,320 £ A P I T A L A C £ O U N T£ Capital paid in 779 — + 43 Surplus 742 — + 40 Other capital accounts 208 <- 66 - 11 Contingent liability on acceptances purchased for foreign correspondents 230 11 21 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $638 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $52 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, OCTOBER 18, 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 418 13 4,073 62 11 + 9 16 days to 90 days 8 58 14,936 - 496 14 - 9 91 days to 1 year — — 18,209 - 201 128 _.. Over 1 year to 5 years — _-. 24,895 .- 524 — Over 5 years to 10 years -- _- 6,108 — 197 -- Over 10 years -- -- 1,546 -- 148 -_ Total 426 71 69,767 759 1,022 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 OCTOBER 18, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dal ias Francisco (In millions of dollars) A S S E TS Gold certificate account 10,303 540 1,912 407 522 869 572 1,918 332 130 352 254 2,495 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,017 180 207 28 38 96 157 46 21 24 71 43 106 Other cash 336 18 23 12 39 38 38 43 20 8 42 15 40 Loans 426 12 81 56 10 5 31 71 9 4 34 18 95 Acceptances: Bought outright 71 -- 71 .- -- -- -- -- _._ -- -_ .- --. 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 1 29,437 1,308 7,496 1,599 2,292 2,211 1,550 4,763 1,112 571 1,207 1 ,352 3,976 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 J7 2/ 69,767 3,101 17,765 3,791 5,431 5,241 3,673 11,288 2,635 ~T, 353 2,862 __ ,203 9,424 Held under repurchase agreements — — -- — — -- -- -- ... -- -- .- -- Total U.S. Government securities 69,767 3,101 17,765 3,791 5,431 5,241 3,673 11,288 2,635 ~T ,353 ~2,862 ~~T^ 203~ 9,424 Total loans and securities 71,286 3,158 18,177 3,902 5,521 5,323 3,758 11,524 2,683 1, 377 2,938 3 ,268 9,657 Cash items in process of collection 17,639 1,030 3,119 1,102 1,295 1,355 1,822 2,945 845 709 1,069 1 ,057 1,291 Bank premises 168 2 8 4 28 13 16 17 15 28 17 12 8 Other assets 3/ 1,103 78 264 64 80 80 57 161 37 25 42 52 163 TOTAL ASSETS 102,252 5,029 23,803 5,542 7,556 7,810 6,442 16,724 3,968 2 ,308 4,546 4 ,715 13,809 1/ Excludes $638 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions, 2/ Includes $52 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign 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 OCTOBER 18, 1972 San New Phila Cleve Rich St. Minne Kansas 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 57,057 2,983 14,144 3,377 4,553 5,053 2,867 9,708 2,209 986 2,228 2,200 6,749 Deposits: Member bank reserves 27,933 977 6,589 1,161 1,596 1,394 1,952 4,260 908 622 1,234 1,484 5,756 U. S. Treasurer--general account 1,140 76 241 46 73 137 102 76 92 30 58 73 136 Foreign 228 10 1/ 69 11 19 11 15 32 7 5 9 12 28 Other 664 1 519 5 _- 19 19 64 1 1 2 _5 28 Total deposits 29,965 1,064 7,418 1,223 1,688 1,561 2,088 4,432 1,008 658 1,303 1,574 5,948 Deferred availability cash items 12,922 881 1,645 823 1,115 1,059 1,337 2,224 671 611 919 822 815 Other liabilities and accrued dividends 579 27 149 32 45 42 34 90 21 14 23 26 76 TOTAL LIABILITIES 100,523 4,955 23,356 5,455 7,401 7,715 6,326 16,454 3,909 2,269 4,473 4,622 13,588 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 208 7 53 10 16 16 12 38 8 4 8 9 27 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 102.252 5.029 23.803 5.542 7.556 7.810 6,442 16.724 3,968 2.308 4.546 4.7T? 1,3,809 Contingent liability on acee ptances purchased for foreig n correspondents 230 10 2/ 60_ 12 21 12 15 24_ S_ s La- L3_ 30 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 59,531 3,182 14,793 3,444 4,701 5,209 3,110 9,934 2,313 1,015 2,316 2,339 7,175 Collateral for F. R. notes: Gold certificate account 2,105 250 300 350 345 700 155 5 U. S. Government securities 58.865 2.960 15.050 3.250 4.550 4.955 3,150 9.500 2,230 1,040 ?,400 7,380 7,400 Total collateral 60,970 3,210 15,050 3,550 4,900 5,300 3,150 10,200 2,385 1,040 2,400 2,385 7,400 1/ After deducting $ 159 million participations of other Federal Reserve Banks. 2/ After deducting $ 170 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis