H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and *'f^R^f>* Condition Statement of F.R. Banks H.4.1 For immediate release November 24, 1972 The average of daily figures for total reserves of member banks declined $1,655 million in the latest statement week to $30,494 million. Required reserves declined, reflecting the implementation of the second stage of Regulation D effective November 16. Excess reserves and member bank borrowings at Federal Reserve Banks both declined. A seasonal, increase in float was the major factor supplying reserves in the latest statement week. An increase in currency in circulation and a decline in other Federal Reserve assets more than offset this reserve gain. In addition, System Open Market operations absorbed $307 million reserves net, on a weekly average basis. Member bank borrowings averaged $421 million and exceeded excess reserves by $279 million. In the previous week excess reserves exceeded member bank borrowings by $85 million. Averages of daily iE igure s Member bank reserves, Week ended Change from week. ended Wednesday, Reserve Bank credit, Nov. 22, Nov . 15, No v. 24, Nov. 22, and related items 1972 * 1972 1971 1972 * Reserve Bank credit: (Irl mi!. lions of dollars) U.S. Government securities- Bought outright — System account 69,606 - 228 +1 ,918 1/ 69,607 Held under repurchase agreements 210 - 112 - 258 224 Federal Agency obligations- Bought outright 1,035 + 24 + 856 1,177 Held under repurchase agreements 29 + 24 - 36 76 Acceptances- Bought outright 62 . 5 + 10 62 Held under repurchase agreements 33 10 - 23 54 Loans — Member bank borrowings 421 73 117 254 Other Float 2,751 + 340 - 463 3,415 Other F.R. assets 958 - 395 + 162 979 Total Reserve Bank credit 75,105 - 437 +2 ,049 75,848 Gold stock 10,410 — + 278 10,410 Special Drawing Rights certif. acct. 400 — -- 400 Treasury currency outstanding 8,282 + 9 + 706 8,293 94,197 - 428 +3 ,033 94,951 Currency in circulation 64,806 + 335 +4, 699 65,118 Treasury cash holdings 374 - 9 - 90 377 Treasury deposits with F.R. Banks 1,196 + 15 - 731 989 Foreign deposits with F.R. Banks 198 + 9 + 75 205 Other deposits with F.R. Banks 595 - 5 - 91 564 Other F.R. liabilities and capital 2,331 + 52 + 66 2,361 69,499 + 396 +3 ,926 69,614 Member bank reserves: With Federal Reserve Banks 24,698 - 824 _ 893 25,336 Currency and coin 5,346 - 831 + 221 5,346 Total reserves held 2,/ 30,494 -1 ,655 - 222 31,132 Required reserves 30,352 -1 ,218 - 220 30,352 Excess reserves 2_/ 142 - 437 - 2 780 NOTE: A net of $302 million of surplus reserves were eligible to be carried forward from the week ended November 15, into the week ending November 22. On November 22, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $32,052 million, an increase of $227 million for the week. jL/ Includes $77 million securities loaned--fuily secured by U.S. Government securities pledged with Federal Reserve Banks. 2_/ 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. Estimated (St. Louis 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) Wedil esday Change since Nov . 22, Nov. 15, Nov. 24, 1972 1972 1971 A S S E TS Gold certificate account 10,303 _ — + 428 Special Drawing Rights certif. accts. * 400 -- -- Cash ( 854) 328 + 1 + 62 Loans 254 + 121 -2,143 Acceptances—Bought outright 62 -- + 6 Held under repurchase agreements 54 + 54 92 Federal Agency obligations—Bought outright 1,177 + 166 + 998 Held under repurchase agreements 76 + 76 - 120 U. S. Government securities: Bought outright—Bills 29,328 +1,491 158 Certificates Notes 36,681 +1,420 Bonds 3,598 -- + 365 Total bought outright 1/ 69,607 +1,491 +1,627 Held under repurchase agreements 224 + 224 -1,283 Total U.S. Government securities 69,831 +1,715 + 344 Total loans and securities 71,454 +2,132 -1,007 Cash items in process of collection (2,084) 9,373 -1,469 -1,808 Bank premises 168 -- + 20 Other assets 2/ 811 79 + 134 TOTAL ASSETS (2,938) 92,837 585 -2,171 Federal Reserve notes ( 854) 57,424 + 314 Deposits: Member bank—reserves account 25,256 +2 ,266 U. S. Treasurer—general account 989 - 534 Foreign 205 - 9 Other 564 - 56 Total deposits 27,014 +1 ,667 Deferred availability cash items (2,084) 6,038 -1 ,466 Other liabilities and accrued dividends 586 + 5 TOTAL LIABILITIES (2,938) 91,062 + 520 C A P I T AL A C C O U N TS Capital paid in 782 Surplus 742 Other capital accounts 251 Contingent liability on acceptances purchased for foreign correspondents 205 + i-i +4,118 -3,623 - 446 + 79 - 134 -4,124 -2,223 26 -2,255 + 46 -- + 40 66 2 36 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Includes $77 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, November 22, 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 250 66 4,558 +1,807 16 days to 90 days 4 50 16,812 +1,776 91 days to 1 year — -- 16,323 -1,867 Over 1 year to 5 years -- -- 24,484 -- Over 5 years to 10 years -- -- 6,108 Over 10 years — 1,546 Total r-l 76 + 76 14 -- 141 + 13 622 + 82 238 + 57 -- 162 + 14 254 116 69,831 +1,715 1,253 +242 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 NOVEMBER 22, 1972 New Ph ila- Cleve Rich St. Minne Kansas San Total Bos ton Atlanta Chicago Da lias York de lphia land mond Louis apolis City Francisco O n millions of dollars) A S S E TS Gold certificate account 10,303 611 2,221 65 585 1,049 499 1,889 250 70 340 332 2,422 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 854 153 153 31 32 79 150 44 19 18 45 43 87 Other cash 328 16 18 12 39 38 41 41 20 7 41 15 40 Loans 254 25 61 14 13 71 12 25 13 11 Acceptances: Bought outright 62 -- 62 -- -_ -- -- -- -_ -- Held under repurchase agreements 54 -- 54 -- -- __ _- -- _- -- __ Federal Agency obligations-- Bought outright 1,177 53 296 64 9 88 62 188 4 2J 48 53 166 Held under repurchase agreements 76 -- 76 -- __ _- -- - - -- _. -- U.S. Government securities: Bought outright-- Bills 29,328 1 ,333 7,370 1 590 2,279 2,188 1,542 4,682 1 ,120 573 1 ,195 1 ,313 4,143 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 3,59§ •1&3 904 __ 195 -_ 280 269 189 . £ZS_ __ JJL2_ 70 147 161 508 Total bought outright \J 69,607 T, 162 17,491 773 5,410 5,194 3,660 11,114 ,657 ~~T, 359 2", 838 ~~T, 116 9,833 Held under repurchase agreements ] 224 -- 224 -- -- -- -- -- -- -- -- „_ _> - Total U.S. Government securities 69,831 ,162 17,715 ~~T 773 5,410 5,194 3,660 11,114 2 ,657 l ,359 ~ ,838 __ 116 97833™" Total loans and securities , 71,454 3 ,240 18,264 3 839 5,508 5,296 3,735 11,373 —y-,702 i ,394 2 ,911 3 182 10,010 Cash items in process of collection 11,457 45 2 2, 194 1 146 704 921 1,129 1,561 423 480 675 665 1,107 Bank premises 168 2 8 4 28 13 15 17 15 29 17 12 8 Other assets 27 811 65 196 39 61 53 45 113 27 18 36 37 121 TOTAL ASSETS 95,775 4 562 23,147 5 159 6,990 7 ,485 5 ,636 15,108 3 ,471 2 ,023 4 ,080 4 270 13,844 1/ Includes $77 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies, * Estimated (St. Louis 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 NOVEMBER 22, 1972 New Phila Cleve Rich St. * Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Trancisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 58,278 3,025 14,489 3,552 4,655 5,143 2,972 9,878 2,254 1,003 2,257 2,221 6,829 Deposits: Member bank reserves 25,256 982 6,118 1,049 1,423 1,269 1,579 3,42Q 710 488 1,053 1,385 5,771 U. S. Treasurer—general account 989 50 157 35 75 110 63 110 72 34 101 34 148 Foreign 205 8 1/ 68 10 17 10 13 27 6 4 8 10 24 Other 564 1 506 4 -- 14 6 4 1 3 2 3 20 Total deposits 27,014 1,041 6,849 1,098 1,515 1,403 1,661 3,570 789 529 1,164 1,432 5,963 Deferred availability cash items 8,122 394 1,205 390 618 799 838 1,291 348 438 561 496 744 Other liabilities and accrued dividends 586 26 147 29 44 42 46 90 21 13 23 26 79 TOTAL LIABILITIES 94,000 4,486 22,690 5,069 6,832 7,387 5,517 14,829 3,412 1,983 4,005 4,175 13,615 CAPITAL ACCOUNTS Capital paid in 782 33 201 40 71 41 55 122 26 18 33 43 99 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 251 9 63 12 19 19 14 46 8 5 10 11 35 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 95,775 4,562 23,147 5,159 6,990 7,485 5,636 15,108 3,471 2.023 4,030 4,270 13,344 Contingent liability on ace: eptances purchased for foreign correspondents 205 9 27 53 11 19 11 14 3D L_ L_ 2_ LL 26 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 60,593 3,204 15,091 3,640 4,786 5,291 3,194 10,085 2,351 1,038 2,344 2,365 7,204 Collateral for F. R. notes: Gold certificate account 1,885 250 -- 50 350 375 700 155 -- -- 5 -- U. S. Government securities 59,750 3,000 15,250 3.650 4,550 4,990 3,250 9 500 2 280 l 050 2 400 2,430 7 400 r r r P f Total collateral 61,635 3,250 15,250 3,700 4,900 5,365 3,250 10,200 2,435 1,050 2,400 2,435 7,400 V After deducting $ 137 million participations of other Federal Reserve Banks. 2/ After deducting $ 152 million participations of other Federal Reserve Banks. * Estimated (St. Louis District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis