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 26, 1972 The average of daily figures for total reserves of member banks declined $509 million in the latest statement week to $33,587 million. Required reserves declined while excess reserves and member bank borrowings at Federal Reserve Banks increased. A seasonal decline in currency in circulation was the major factor supplying reserves in the latest statment week. An increase in Treasury deposits with Federal Reserve Banks more than offset this reserve gain. In addition, System Open Market operations absorbed $186 million reserves net, on a weekly average basis. Member bank borrowings were above the average of recent weeks and exceeded excess reserves by $583 million compared to $324 million for the previous week. Averages o f daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 25, Oct. 18, 1 Oct. 27, Oct. 25, and related items 1972 1972 1 1971 1972 Reserve Bank credit: (Iri mil lions c> f dollars) U.S. Government securities-- Bought outright--System account 69,878 - 379 +2,717 1/ 70,167 Held under repurchase agreements 181 + 181 + 109 1,264 Federal Agency obligations-- Bought outright 1,021 - 1 + 925 1,020 Held under repurchase agreements 2 + 2 3 12 Acceptances-- Bought outright 72 + 1 + 21 71 Held under repurchase agreements 10 + 10 + 5 74 Loans- Member bank borrowings 767 + 334 + 354 3,174 Other Float 4,502 - 25 +1,411 3,976 Other F.R. assets 1,269 + 66 + 109 1,451 Total Reserve Bank credit 77,702 + 188 +5,649 81,209 Gold stock 10,410 — + 278 10,410 Special Drawing Rights certif. acct. 400 -« — 400 Treasury currency outstanding 8,239 + 9 + 679 8,242 96,751 + 197 +6,605 100,261 Currency in circulation 63,484 - 132 +4,310 63,641 Treasury cash holdings 366 + 7 90 374 Treasury deposits with F.R. Banks 1,462 + 429 - 721 1,392 Foreign deposits with F.R. Banks 221 + 22 + 65 197 Other deposits with F.R. Banks 615 - 9 - 96 568 Other F.R. liabilities and capital 2,_348 + 58 + 67 2,379 68,496 + 375 +3,534 68,551 Member bank reserves: With Federal Reserve Banks 28,255 - 178 +3,071 31,710 Currency and coin 5,332 - 331 + 92 5,332 Total reserves held 33,587 - 509 +3,163 37,042 Required reserves 33,403 - 584 +3,030 33,403 Excess reserves 184 + 75 + 133 3,639 NOTE: A net of $68 million of surplus reserves were eligible to be carried forward from the week ended October 18, into the week ending October 25. On October 25, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $31,058 million, an increase of $477 million for the week. 1/ Includes $41 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 Oct. 25, Oct. 18, Oct. 27, 1972 1972 1971 A S S E TS Gold certificate account 10,303 + 428 Special Drawing Rights certif. accts. * 400 Cash (1,076) 337 + 1 + 31 Loans 3,174 +2,748 +1,131 Acceptances--Bought outright 71 + 20 Held under repurchase agreements 74 + 74 + 39 Federal Agency obligatons—Bought outright 1,020 2 + 924 Held under repurchase agreements 12 + 12 20 U. S. Government securities: Bought outright—Bills 29,837 + 400 + 563 Certificates Notes 36,732 +2,013 Bonds 3,598 — + 335 Total bought outright 1/ 70,167 + 400 +2,911 Held under repurchase agreements 1,264 +1.264 + 762 Total U.S. Government securities 71,431 +1,664 +3,673 Total loans and securities 75,782 +4,496 +5,767 Cash items in process of collection (3,510) 12,731 -1,193 +1,409 Bank premises 167 1 + 17 Other assets 2/ 1,284 + 181 + 233 TOTAL ASSETS (4,586) 101,004 +3,484 +7,885 L I A B I L I T I E S; Federal Reserve notes (1,076) 56,003 - 37 +3,651 Deposits: Member bank--reserves account 31,630 +3,697 +4,315 U. S. Treasurer—general account 1,392 + 252 - 317 Foreign 197 31 + 41 Other 568 77 - 120 Total deposits 33, 787 +3, 841 +3,919 Deferred availability cash items (3,510) 8 ,835 - 391 + 241 Other liabilities and accrued dividends 583 + 4 TOTAL LIABILITIES (4,586) 99,208 +3,417 +7,811 C A P I T AL A C C O U N TS Capital paid in 781 + 46 Surplus 742 + 40 Other capital accounts 273 65 12 Contingent liability on acceptances purchased for foreign correspondents 221 37 ^Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $41 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 25. 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 3,168 '9T~ 6,087 +2,014 21 +10 16 days to 90 days 6 54 14,736 - 200 14 91 days to 1 year 18,059 - 150 128 Over 1 year to 5 years 24,895 540 +16 Over 5 years to 10 years 6,108 181 -16 Over 10 years — — 1,546 -- 148 Total 3,174 145 71,431 +1,664 1,032 +10 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 25, 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 10,303 637 649 690 668 667 510 1,474 429 60 419 253 3,847 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,076 179 204 34 45 98 171 50 24 25 71 48 127 Other cash 337 18 22 12 40 38 39 44 20 8 42 15 39 Loans 3,174 256 1,504 56 121 122 79 554 11 36 85 157 193 Acceptances: Bought outright ! 71 -- 71 -- -- -. -- .- -- -- -- -- -- Held under repurchase agreements 74 -- 74 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 1,020 45 260 55 79 77 54 165 38 20 42 47 138 Held under repurchase agreements 12 -- 12 -- -- -- -- -- -- -- -- — — U.S. Government securities: Bought outright-- Bills 29,837 1,326 7,598 1,621 2 ,323 2,241 1,572 4,827 1,127 579 1,223 1 ,370 4,030 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 1/ 70,167 3,119 17,867 3,813 5~, 462 5,271 3,695 11,352 2,650 ~T, 361 2,878 ~T, 221 9,478 Held under repurchase agreements 1,264 -- 1,264 -- -- __ -- -- -- -- -- -- -- Total U.S. Government securities 71,431 3,119 19,131 3,813 5*, 462 5,271 3,695 11,352 2,650 ~T, 361 2,878 ~T, 221 9,478 Total loans and securities 75,782 3,420 21,052 3,924 5 ,662 5,470 3,828 12,071 2,699 l ,417 3,005 3 ,425 9,809 Cash items in process of collection | 16,241 951 3,065 1,031 1 ,222 1,415 1,676 2,452 821 731 1,057 l ,099 721 Bank premises | 167 2 8 4 28 13 15 17 15 28 17 12 8 Other assets 2/ 1,284 80 282 64 82 78 57 162 38 23 42 52 324 TOTAL ASSETS 105,590 5,310 25,375 5,782 7 ,780 7,815 6,318 16,340 4,061 2 ,299 4,668 4 ,918 14,924 1/ Includes $41 million securities loaned--fully secured by U S. Government securities pledged with Federal Reserve Banks. 2/ 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 25, 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 56,079 2,982 14,198 3,395 4,552 5,054 2,869 9,697 2,211 986 2,227 2,196 6,712 Deposits: Member bank reserves 31,630 1,229 7,814 1,351 1,868 1,362 2,061 4,353 989 585 1,287 1,723 7,008 U. S. Treasurer—general account 1,392 54 348 47 43 113 106 207 93 52 122 78 129 Foreign 197 7 1/ 82 8 14 8 11 23 5 4 6 9 20 Other 568 * 502 7 1 17 5 5 2 — 2 4 23 Total_deppsits 33,787 1,290 8,746 1,413 1,926 1,500 2,183 4,588 1,089 641 1,417 1,814 7,180 Deferred availability cash items 12,345 934 1,815 854 1,097 1,121 1,112 1,684 679 617 923 787 722 Other liabilities and accrued dividends 583 27 152 29 45 40 35 89 21 15 25 25 80 TOTAL LIABILITIES 103,794 5,233 24,911 5,691 7,620 7,715 6,199 16,058 4,000 2,259 4,592 4,822 14,694 CAPITAL ACCOUNTS Capital paid in 781 33 201 39 71 41 54 123 26 18 33 43 99 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 273 10 70 14 21 21 15 48 10 5 11 12 36 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 105,590 5,310 25.375 5.782 7.780 7.815 6.318 16.340 4.061 2.299 4-668 4,918 14,924 Contingent liability on ace. eptances purchased for forei• gn correspondents 221 10 2/ 58 11 20 11 15 23_ a_ 5_ 2__ 12 29 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 14,839 3,465 4,712 5,231 3,102 9,944 2,319 1,013 2,316 2,341 7,162 Collateral for F. R. notes: Gold certificate account 300 350 345 700 155 5 U. S. Government securities 15.050 3.350 4.550 4.955 3.150 9 500 ZJLM 1.040 2.400 2.380 7.400 r Total collateral 3,210 15,050 3,650 4,900 5,300 3,150 10,200 2,385 1,040 2,400 2,385 7,400 1/ After deducting $115 million participations of other Federal Reserve Banks, * Less than $500,000. 2/ After deducting $163 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis