H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and •f^URt^V Condition Statement of F.R. Banks H.4.1 For immediate release November 16, 1972 The average of daily figures for total reserves of member banks declined $1,534 million in the latest statement week to $32,149 million. Required reserves declined, reflecting the change in Regulation D effective November 9. Member bank borrowings at Federal Reserve Banks also declined while excess reserves increased. Major factors supplying reserves in the latest statement week were declines in Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital. More than offsetting these reserve gains were a contraseasonal decline in float, associated with the implementation of Regulation J on November 9, and a seasonal increase in currency in circulation. System Open Market operations absorbed $599 million reserves net, on a weekly average basis. Excess reserves averaged $579 million and exceeded member bank borrowings by $85 million. In the previous week member bank borrowings exceeded excess reserves by $852 million. Averages of daily ic igures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 15, Nov. 8, Nov. 1.7, Nov. 15, and related items 1972 1972 1971 1972 Reserve Bank credit: (In millions of dollars) U.S. Government securities- Bought outright —Systern account 69,834 - 260 +2 ,599 1/2/ 68,116 Held under repurchase agreements 322 - 276 - 53 -- Federal Agency obligations- Bought outright 1,011 _- + 832 1,011 Held under repurchase agreements 5 27 - 34 -- Acceptances- Bought outright 67 4 + 9 62 Held under repurchase agreements 43 32 + 11 -- Loans- Member bank borrowings 494 464 207 133 Other Float 2,411 -1,280 _ 85 7 3,418 Other F.R. assets 1,353 + 4 + 292 1,058 Total Reserve Bank credit 75,542 -2,338 +3 ,007 73,798 Gold stock 10,410 -- + 278 10,410 Special Drawing Rights certif. acct. 400 _- -« 400 Treasury currency outstanding 8,273 + 5 + 700 8,275 94,625 -2,332 +3 ,985 92,883 Currency in circulation 64,471 + 670 +4 ,546 64,783 Treasury cash holdings 383 + 2 - 82 382 Treasury deposits with F.R. Banks 1,181 - 536 - 401 1,523 Foreign deposits with F.R. Banks 189 + 2 + 66 214 Other deposits with F.R. Banks 600 26 - 125 620 Other F.R. liabilities and capital 2,279 - 204 + 35 2,291 69,103 92 +4 ,039 69,813 Member bank reserves: With Federal Reserve Banks 25,522 -2,240 _ 55 23,070 Currency and coin 6,177 + 256 + 582 6,177 Total reserves held 3>/ 32,149 -1,534 + 977 29,697 Required reserves 31,570 -2,007 + 586 31,570 Excess reserves 3/ 579 + 473 + 391 -1,873 NOTE: A net of $51 million (est.) of surplus reserves were eligible to be carried forward from the week ended November 8, into the week ending November 15. On November 15, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $31,825 million, an increase of $162 million for the week. 1/ Excludes $1,905 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $54 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3i/ Adjusted to include $450 million of certain reserve deficiencies on which penalties can be waived for a transition period in connection with bank adaptation to Regulation J as amended effective November 9, 1972. 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. 15, Nov. 8, Nov. 17, 1972 1972 1971 A S S E TS Gold certificate account 10,303 -- + 428 Special Drawing Rights certif. accts. it 400 __ -- Cash 856) 327 3 + 64 Loans 133 -1,337 - 259 62 4 + 11 Acceptances—Bought outright -- - Ill 82 Held under repurchase agreements 1,011 — + 832 Federal Agency obligations — Bought outright -- 52 - 104 Held under repurchase agreements U. S. Government securities: 27,837 -1,927 -1,359 Bought outright--Bills Certificates 36,681 51 +1,649 Notes 3,598 — + 400 Bonds Total bought outright 1/ 2/ 68,116 -1,978 4- 690 Held under repurchase agreements -1,243 832 Total U.S. Government securities 68,116 -3,221 142 69,322 -4,725 + 256 Total loans and securities (2,204) 10,842 -1,095 -2,326 Cash items in process of collection 168 + 1 + 20 Bank premises Other assets J3/ 890 - 347 + 237 TOTAL ASSETS (3,060) 92,252 •6 3 169 -1,321 L I A B I L I T I ES Federal Reserve notes ( 856) 57,110 + 423 +4,112 Deposits: Member bank—reserves account 22,990 -5,916 -3,406 U. S. Treasurer — general account 1,523 + 479 9 Foreign 214 42 + 69 Other 620 48 85 Total deposits 25,347 -5,527 -3,431 Deferred availability cash items (2,204) 7,504 - 971 -2,067 Other liabilities and accrued dividends 581 - 24 16 TOTAL LIABILITIES (3,060) 90,542 -6,099 -1,402 C A P I T AL A £ £ 0 U N T !5 Capital paid in 783 1 + 47 Surplus 742 — + 40 Other capital accounts 185 71 6 Contingent liability on acceptances purchased for foreign correspondents 201 17 45 Figures in parentheses are the eliminations made in the consolidating process 1/ Excludes $1,905 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 1/ Includes $54 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, NOVEMBER 15, 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 127 13 2,751 -1,420 -- •52 16 days to 90 days 6 49 15,036 -1,817 14 91 days to 1 year 18,190 + 426 128 Over 1 year to 5 years 24,484 - 411 540 Over 5 years to 10 years 6,109 + 1 181 Over 10 years -- 1,546 — 148 Total 133 62 5,116 -3,221 1,011 -52 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 NOVEMBER 15, 1972 New Phila Cleve Rich St. Minne Kansas San Total 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 10,303 546 3,235 338 579 856 587 1,538 340 146 190 199 1,749 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 856 160 170 19 30 76 150 42 15 17 47 43 87 Other cash 327 16 18 12 38 39 40 41 17 42 16 41 Loans 133 35 o 12 44 19 10 Acceptances: Bought outright 62 62 _- -- ._ ... Held under repurchase agreements -- -- -- -- -- -- -- -- __ -- -- -. Federal Agency obligations-- Bought outright 1,011 46 254 55 79 7! 53 161 39 20 41 45 143 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -. U.S. Government securities: Bought outright-- Bills 27,837 1,265 6,995 1,509 2,163 2,077 1,464 4,444 1,063 544 1,135 1 ,246 3,932 Certificates: Other Notes 36,681 1,666 9,217 1,988 2,851 2,737 1,929 5,857 1,400 716 1,496 1 ,642 5,182 Bonds 3,598 163 904 195 280 269 189 575 137 _. 70 147 _- 161 508 Total bought outright 1/ 2/ ! 68,116 3,094 17,116 3,692 5,294 5,083 3,582 10,876 2", 600 ,330 2,778 ,049 9,622 Held under repurchase agreements -- -- _» -- -- -- -- -- -- -- -- .- -- Total U.S. Government securities 68,116 3,094 17,116 3,692 5,294 5,083 3,582 10,876 2,600 r, 330 2,778 3", 049 9,622 Total loans and securities 69,322 3,144 17,467 3,749 5,376 5,159 3,647 11,081 2,639 1 ,353 2,838 3 ,104 9,765 Cash items in proces , of collection 13,046 536 2,714 849 783 1,216 1,264 1,809 578 486 750 759 1,302 Bank premises 168 2 8 4 28 13 15 17 15 29 17 12 8 Other assets 3/ i 890 64 262 50 54 49 73 104 25 20 29 33 127 TOTAL ASSETS j 95,312} 4,491 23,967 5,044 6,921 7,444 5,798 14,702 3,644 2 ,065 3,928 4 ,180 13,128 1/ Excludes $1,905 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $54 mill ion securities loaned --fully secured by U.S. Government securities pledged with Federal Reserve Banks, 3/ Includes assets denominated in forei;g 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 NOVEMBER 15, 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 57,966 3,010 14,394 3,512 4,626 5,131 2,972 9,800 2,256 997 2,252 2,211 6,805 Deposits: Member bank reserves 22,990 899 6,273 853 1,273 1,038 1,552 2,861 742 535 870 1,228 4,866 U. S. Treasurer—general account 1,523 32 585 81 85 126 135 123 112 33 67 12 132 Foreign 214 9 1/ 70 10 18 10 13 29 7 4 8 11 25 Other 620 1 523 6 -. 15 34 5 1 2 2 6 25 Total deposits 25,347 941 7,451 950 1,376 1,189 1,734 3,018 862 574 947 1,257 5,048 Deferred availability cash items 9,708 440 1,537 466 718 989 943 1,524 446 440 634 594 977 Other liabilities and accrued dividends 581 27 145 30 48 42 -n Q1 ?? l 5 91 ?6 7Q TOTAL LIABILITIES 93,602 4,418 23,527 4,958 6,768\ 7,351 5,682 14,433 3,586 2,026 3,856 4,088 12,909 CAPITAL ACCOUNTS Capital paid in 783 33 201 40 71 41 55 123 26 18 33 43 99 Surplus 742 34 193 38 6£1 38 50 111 25 17 32 41 95 Other capital accounts 185 6 46 8 U i. 14 11 35 7 4 7 8 25 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 95,312 4,491 23,967 5,044 6,921 7,444 5,798 14,702, 3,644 2,065 3.928 4,180 13,123 Contingent liability on ace: eptances purchased for foreign c o r r espondents 201 9 y 52 10 U \ 10 14 2flL Z_ 5_ 2_ LL 26 „ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 15,012 3,589 4,782 5,274 3,182 10,042 2,347 1,025 2,337 2,328 7,205 Collateral for F. R. notes: Gold certificate account 300 350 375 700 155 5 U. S. Government securities 15.250 3.500 4,550 4,955 3.250 9 500 2.280 l 050 2 400 2,380 7 400 r r r r Total collateral 3,250 15,250 3,800 4,900 5,330 3,250 10,200 2,435 1,050 2,400 2,385 7,400 1/ After deducting $ 144 million participations of other Federal Reserve Banks, 2/ After deducting $ 149 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis