H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and '••SSfSS*^ Condition Statement of F.R. Banks H.4.1 For immediate release December 7, 1972 The average of daily figures for total reserves of member banks increased $215 million in the latest statement week to $30,960 million. Required reserves and member bank borrowings at Federal Reserve Banks increased while excess reserves declined. A decline in float and an increase in other Federal Reserve liabilities and capital with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. System Open Market operations provided $671 million reserves net, on a weekly average basis. Member bank borrowings averaged $587 million and exceeded excess reserves by $309 million compared to $218 million for the previous week. Averages of daily 1f igures Member bank reserves, Week ended Change from week. ended Wednesday, Reserve Bank credit, Dec. 6, Nov . 29, Dec. 8, Dec. 6, and related items 1972 * 1972 1971 1972 * Reserve Bank credit: (Irl millions of dollars) U.S. Government securities-- Bought outright--System account 69,611 + 143 +1 ,129 !l/2/69 054 f Held under repurchase agreements 531 + 499 + 443 r 496 Federal Agency obligations- Bought outright 1,177 -« + 837 1,177 Held under repurchase agreements 16 + 5 - 15 14 Acceptances- Bought outright 64 + 4 + 8 62 Held under repurchase agreements 28 + 20 + 18 19 Loans-- Member bank borrowings 587 + 15 + 528 274 Other Float 2,441 » 489 • 649 3,652 Other F.R. assets 1,060 + 52 + 167 1,132 Total Reserve Bank credit 75,516 + 250 +2 ,469 75,880 Gold stock 10,410 -• + 278 10,410 Special Drawing Rights certif. acct. 400 — -- 400 Treasury currency outstanding 8,283 - 7 + 689 8,285 94,609 + 243 +3 ,436 94,975 Currency in circulation 65,162 + 20 +4 ,594 65,592 Treasury cash holdings 349 - 16 - 107 361 Treasury deposits with F.R. Banks 1,098 - 73 - 651 1,188 Foreign deposits with F.R. Banks 241 + 29 + 108 284 Other deposits with F.R. Banks 611 + 26 - 106 547 Other F.R. liabilities and capital 2,509 + 118 + 111 2,583 69,970 + 105 +3 ,948 70,555 Member bank reserves: With Federal Reserve Banks 24,639 + 138 . 512 24,420 Currency and coin 5,871 + 77 + 279 5,871 Total reserves held 3_l 30,960 + 215 + 217 30,741 Required reserves 30,682 + 291 + 82 30,682 Excess reserves 3/ 278 - 76 + 135 j 59 NOTE: A net of $156 million of surplus reserves were eligible to be carried forward from the week ended November 29, into the week ending December 6. On December 6, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $31,363 million, a decrease of $113 million for the week. y Excludes $675 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 27 Includes $42 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Adjusted Co 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 (Chicago and St. Louis Districts). 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. 29, Dec. 8, Dec :. 6, 1972 1971 197? A S S E TS Gold certificate account 10,303 + 428 Special Drawing Rights certif. accts. * 400 -- -- Cash ( 893) 314 6 + 70 Loans 274 - 402 + 188 Acceptances--Bought outright 62 -- + 6 Held under repurchase agreements 19 19 7 Federal Agency obligations—Bought outright 1,177 — + 837 Held under repurchase agreements 14 14 79 U. S. Government securities: Bought outright —Bills 28,775 107 • 927 Certificates Notes 36,681 +1,127 Bonds 3,598 + 312 Total bought outright 1/2/ 69,054 - 107 + 512 Held under repurchase agreements 496 + 496 + 277 Total U.S. Government securities 69,550 + 389 + 789 Total loans and securities 71,096 + 20 +1,734 Cash items in process of collection (1,800) 9,312 + 901 -1,969 Bank premises 165 - 4 + 17 Other assets 3/ 967 + 77 + 186 TOTAL ASSETS (2,693) 92,557 988 + 466 L I A B I L I T I ES Federal Reserve notes ( 893) 57,875 + 289 +4,013 Deposits: Member bank—reserves account 24,340 + 497 -1,330 U. S. Treasurer—general account 1,188 + 114 + 252 Foreign 284 + 84 + 97 Other 547 - 56 - 232 Total deposits 26,359 + 639 -1,213 Deferred availability cash items (1 ,800) 5,740 - 105 -2,488 Other liabilities and accrued dividends 679 + 106 + 70 TOTAL LIABILITIES (2, 693) 90,653 + 929 + 382 £ A 111 £L L A C C O U N TS Capital paid in 788 1 + 51 Surplus 742 -- + 40 374 58 7 Other capital accounts Contingent liability on acceptances purchased for foreign correspondents 189 12 67 Figures in parentheses are the eliminations made in the consolidating process, 1/ Excludes $675 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. y Includes $42 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (Chicago and St. Louis Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 6, 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 271 31 3,520 -303 28 +14 16 days to 90 days 3 50 17,600 +731 17 91 days to 1 year 16,292 - 39 124 Over 1 year to 5 years 24,484 -- 622 Over 5 years to 10 years 6,108 -- 238 Over 10 years — 1,546 -- 162 Total 274 81 69,550 +389 1,191 +14 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 DECEMBER 6, 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 10,303 367 2,176 873 934 587 493 2,133 388 124 379 323 1,526 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 893 154 155 27 39 69 143 80 25 19 41 40 101 Other cash 314 14 17 10 38 36 40 41 20 6 41 15 36 Loans 2 74 - 92 14 6 23 9 97 - 11 -> 3 Acceptances: Bought outright 62 62 -- -- -- -- -- -- -- -- Held under repurchase agreements 19 -- 19 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 1,177 55 298 58 90 89 62 190 43 22 47 52 171 Held under repurchase agreements 14 -- 14 -- -- — -- — -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 28,775 1,346 7,295 1,423 2,188 2,187 1 ,518 4,647 1,049 545 1 ,141 1,263 4,173 Certificates: Other ! -- -- -- -- -- -- __ -- -- -- -- -- Notes 36,681 1,715 9,299 1,814 2,789 2,788 1 ,936 5,924 1,338 694 1 ,455 1,609 5,320 Bonds 1 3,598 168 912 178 274 273 190 581 131 68 143 158 522 Total bought outright V 2/ |69,054 3,229 17,506 3,415 5,251. 5,248 ~T, 644 11,152 2,518 1,307 T ,739 3,030 10,015 Held under repurchase agreements 496 _- 496 -- -- -- -- -- -- -- -- -- -- Total U.S. Government securities 69,550 3,229 18,002 3,415 5,251 5,248 ~T, 644 IK 152 2,518 1,307 "T, 739 3,030 10,015 Total loans and securities 71,096 3,291 18,487 3,487 5,347 5,360 3 ,715 11^439 2,562 1,333 2 ,797 3,089 10,189 Cash items in process of collection •11,112 521 2,534 678 770 1,054 1 ,193 1,060 510 468 632 642 1,050 Bank premises 165 2 7 4 28 13 15 16 15 29 17 12 7 Other assets 3/ 967 75 237 58 6±__ 64 47 121 30 72 34 „„_39 126 TOTAL ASSETS 95,250 4,447 23,706 5,160 7,253 7,219 5 ,668 14,960 3,565 2,058 3 ,956 4,174 13,084 \J Excludes $675 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. l_l Includes $42 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies u * Estimated (Chicago and St. Louis Districts). 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 DECEMBER 6, 1972 New Phila Cleve Rich * St. * Minne Kansas San Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 58,763 3 ,056 14,594 3,574 4,697 5,216 3,050 9,853 2,274 1,015 2,286 2,243 6,910 Deposits: Member bank reserves 24,340 834 6,434 934 1,563 974 1,527 3,776 679 479 907 1,304 4,929 U. S. Treasurer--general account 1,188 52 264 83 107 89 92 111 114 62 106 51 57 Foreign 284 10 1/121 12 20 12 15 33 7 5 9 12 28 Other 547 2 492 3 -- 13 6 5 2 2 3 4 15 Total deposits 26,35^ 898 7,311 1,032 1,690 1,088 1,640 3, ^25 802 548 1,025 1,371 5,029 Deferred availability cash items 7,54q 383 1,145 428 652 764 813 796 403 438 542 434 742 Other liabilities and accrued dividends 679 27 160 29 46 43 40 95 21 15 23 25 155 TOTAL LIABILITIES 93,346 4 ,364 23,210 5,063 7,085 7,111 5,543 14,669 3,500 2,016 3,876 4,073 12,83b CAPITAL ACCOUNTS Capital paid in 788 33 205 40 71 42 55 122 27 18 33 43 99 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 374 16 98 19 29 28 20 58 13 7 15 17 54 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 95,25C 4^i 44 7_ 23,706 5,160 7,253 7,219 5,668 14,960 3,565 2,058 3,956 4,174 13,084 Contingent liability on ac:ee ptances purchased for fore] c o rrespondents 185 9 2/ 48 10 17 10 13 28 6 4 8 11 25 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,237 15,209 3,679 4,826 5,324 3,272 10,147 2,374 1,047 2,368 2,367 7,275 Collateral for F. R. notes: Gold certificate account 250 -- 500 350 400 700 155 5 U. S. Government securities 3,000 15,450 3,300 4,550 4,990 3,500 9,700 2,280 1,060 2,400 2,430 7,400 Total collateral 3,250 15,450 3,800 4,900 5,390 3,500 10,40H 2,435 1,060 2,400 2,435 7,400 1/ After deducting $163 million participations of other Federal Reserve Banks. 2/ After deducting $ \i±\ million participations cf other Federal Reserve Banks. * Estimated (Chicago and St. Louis Districts)* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis