H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and '°f*Au&?y Condition Statement of F.R. Banks H.4.1 For immediate release November 9, 1972 The average of daily figures for total reserves of member banks declined $90 million in the latest statement week to $33,683 million. Required reserves and member bank borrowings at Federal Reserve Banks increased while excess reserves declined. A more than seasonal decline in float and increases in Treasury deposits with Federal Reserve Banks and currency in circulation were the major factors absorbing reserves in the latest statement week. System Open Market operations supplied $600 million reserves net, on a weekly average basis, through repurchase agreements. Member bank borrowings averaged $958 million and exceeded excess reserves by $852 million compared to $289 million for the previous week. Averages of daily if igures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 8, Nov. 1, Nov . 10, Nov. 8, and related items 1972 * 1972 1971 1972 * Reserve Bank credit: (IrI millions of dollars) U.S. Government securities- Bought outright — System account 70,094 - 52 +3 ,070 1/ 70,094 Held under repurchase agreements 598 +563 + 457 1,243 Federal Agency obligations- Bought outright 1,011 - 8 + 880 1,011 Held under repurchase agreements 32 + 32 + 21 52 Acceptances- Bought outright: 71 + 1 + 18 66 Held under repurchase agreements 75 + 64 + 56 ! in Loans- Member bank borrowings 958 +402 + 836 1,470 Other Float 3,690 -622 + 585 3,536 Other F.R. assets 1,348 + 30 + 108 1,399 Total Reserve Bank credit 77,878 +410 +6 ,031 78,982 Gold stock 10,410 — + 278 10,410 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 8,268 + 16 + 711 8,271 96,956 +426 +7, 020 98,063 Currency in circulation 63,795 +339 +4 ,201 64,299 Treasury cash holdings 381 + 13 - 98 394 Treasury deposits with F.R. Banks 1,717 +141 + 119 1,044 Foreign deposits with F.R. Banks 187 + 3 + 68 256 Other deposits with F.R. Banks 626 + 18 - 84 668 Other F.R. liabilities and capital 2,488 + 74 + 66 2,415 69,194 +589 +4 ,272 69,076 Member bank reserves: With Federal Reserve Banks 27,762 -163 +2 ,748 28,986 Currency and coin 5,921 + 73 + 355 5,921 Total reserves held 33,683 - 90 +3 ,103 34,907 Required reserves 33,577 + 71 +3 ,007 33,577 Excess reserves 106 -161 + 96 1 1,330 NOTE: A net of $127 million of surplus reserves were eligible to be carried forward from the week ended November 1, into the week ending November 8. On November 8, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $31,663 million, an increase of $558 million for the week. 1/ Includes $74 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. * Estimated (Cleveland 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 Nov. 1, Nov. 10, Nov 8 . 1Q7? 1972 1971 A S S E TS Gold certificate account 10,303 + 428 Special Drawing Rights certif. accts. * 400 -- -- Cash 936) 330 - 3 + 62 Loans 1,470 + 903 +1,275 Acceptances--Bought outright 66 - 3 + 9 Held under repurchase agreements 111 + 35 + 111 Federal Agency obligations—Bought outright 1,011 -- + 832 Held under repurchase agreements 52 + 48 + 52 U. S. Government securities: Bought outright—Bills 29,764 981 Certificates Notes 36,732 -- +2,013 Bonds 3.598 -_ + 335 Total bought outright 1/ 70,094 -- +3,329 Held under repurchase agreements 1,243 +1,000 +1,243 Total U.S. Government securities 71,337 +1,000 +47572 Total loans and securities 74,047 +1,983 +6,851 Cash items in process of collection (3,274) 11,973 - 794 +1,104 Bank premises 167 -- + 19 Other assets 2/ 1,232 + 26 + 91 TOTAL ASSETS (4,210) 98,452 +1,212 +8,555 LI A 1ItII IE £ Federal Reserve notes ( 936) 56,646 + 662 +3,790 Deposits: Member bank--reserves account 28,906 +1,332 +4,584 U. S. Treasurer—general account 1,044 - 553 - 367 Foreign 256 + 96 + 119 Other 668 "+ 14 - 46 Total deposits 30,874 + 889 +4,290 Deferred availability cash items (3,274) 8,517 - 287 + 503 Other liabilities and accrued dividends 605 -- + 15 TOTAL LIABILITIES (4,210) 96,642 +1,264 +8,598 C A P I T AL A C C O U N TS Capital paid in 782 mt— + 47 Surplus 742 -- + 40 Other capital accounts 286 52 - 130 Contingent liability on acceptances purchased for foreign correspondents 218 39 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Includes $74 million securities loaned—fully secured by U. S. Government ~~ securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. ** Estimated (Cleveland District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 8, 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 1,462 130 4,171 - 376 52 +48 16 days to 90 days 8 47 16,853 +2,144 14 91 days to 1 year -- 17,764 - 768 128 Over 1 year to 5 years -- 24,895 -- 540 Over 5 years to 10 years -- 6,108 -- 181 Over 10 years — 1,546 -- 148 Total 1,470 177 71,337 +1,000 1,063 +48 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 NOVEMBER 8, 1972 New Phila Cleve Rich St. Minne Kansas San Total 1 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 10,303 577 2,377 728 483 861 378 2,524 367 22 298 63 1,625 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 936 179 183 21 50 79 140 47 .,.- 57 48 95 Other cash 330 16 19 1 9 39 38 39 42 43 1 5 40 Loans 1,470 45 624 31 30 33 105 252 100 164 79 Acceptances: Bought outright ; 66 -. 66 -- -- -- -- -- .„ -- „- Held under repurchase agreements ! in -- 111 -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 1,011 46 254 55 79 75 53 161 39 20 41 45 143 Held under repurchase agreements 52 -- 52 -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 29,764 1,352 7,479 1,613 2,313 2,221 1,565 4,752 1,136 581 1,214 1 ,333 4,205 Certificates: Other -- -- __ -- -- -- -- -_ -« -- -- -- -- Notes i 36,732 1,669 9,230 1,991 2,854 2,741 1,932 5,865 1,402 717 1,498 1 ,644 5,189 Bonds 3,598 163 904 195 280 269 189 575 137 70 147 161 508 Total bought outright J7 70,094 3,184 17,613 3,799 5,447 5,231 3,686 11,192 2,675 1,368 2,859 ~T ,138 9,902 Held under repurchase agreements 1,243 -- 1,243 -- -- -- -- -- -- __ -- _- -- Total U.S. Government securities 71,337 3,184 18,856 3,799 5,447 5,231 3,686 11,192 2,675 1,368 2,859 __ ,138 " 9,902""""""" Total loans and securities 74,047 3,275 19,963 3,885 5,556 5,339 3,844 11,605 2,714 1,395 3,000 3 ,347 10,124 Cash items in process of collection 15,247 1,011 2,241 1,026 1,153 1,207 1,656 2,486 707 697 930 882 1,251 Bank premises 167 2 8 4 28 13 15 17 15 28 17 12 8 Other assets 2/ 1,232 84 304 86 89 87 64 180 43 27 47 53 168 TOTAL ASSETS 102,662 5,167 25,188 5,785 7,431 7,660 6,158 16,971 3,898 2,203 4,407 4 ,434 13,360 1/ Includes $74 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. ** Estimated (Cleveland District) *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 NOVEMBER 8, 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 57,582 2,991 14,322 3,461 4,554 5,115 2,933 9,756 2,233 992 2,245 2,199 6,781 Deposits: Member bank reserves 28,906 1,318 7,463 1,248 1,605 1,373 1,831 4,486 867 619 1,236 1,493 5,367 U. S. Treasurer—general account 1,044 -- 303 70 42 158 6 141 115 42 58 32 77 Foreign 256 10 1/100 11 19 11 14 31 7 5 9 12 27 Other 668 -- 560 6 -- 17 6 11 1 3 2 4 58 Total deposits 30,874 1,328 8,426 1,335 1,666 1,559 1,857 4,669 990 669 1,305 1,541 5,529 Deferred availability cash items 11,791 750 1,781 859 996 855 1,222 2,148 588 490 764 579 759 Other liabilities and accrued dividends 605 28 160 31 46 43 35 93 22 15 24 26 82 TOTAL LIABILITIES 100,852 5,097 24,689 5,686 7,262 7,572 6,047 16,666 3,833 2,166 4,338 4,345 13,151 CAPITAL ACCOUNTS Capital paid in 782 33 201 40 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 286 3 105 21 30 9 7 71 14 2 4 5 15 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 102,662. ._5,167._ 25,188 5,785 7,431 7,660 6,158 J6,921__ „3,8_98_ 2,203 _4,_407_ _.4j434 13,360 Contingent liability on ace. eptances purchased for foreig n correspondents 218 10 2/ 57 11 20 11 15 33 7 5 9 12 28 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 59,936 3,188 14,946 3,524 4,719 5,265 3,138 9,961 2,328 1,018 2,322 2,338 7,189 Collateral for F. R. notes: Gold certificate account 2,135 250 300 350 375 700 155 5 U. S. Government securities 59,065 2,960 15,050 3,350 4,550 4,955 3,250 9,500 2,230 1,040 2,400 2,380 7,400 Total collateral 61,200 3,210 15,050 3,650 4,900 5,330 3,250 10,200 2,385 1,040 2,400 2,385 7,400 \_l After deducting $156 million participations of other Federal Reserve Banks, * Estimated (Cleveland District). 2/ After deducting $161 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis