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 December 14, 1972 The average of daily figures for total reserves of member banks increased $79 million in the latest statement week to $31,071 million. Required reserves and member bank borrowings at Federal Reserve Banks increased while excess reserves declined. An increase in float and a decline in other Federal Reserve liabilities and capital were the major factors supplying reserves in the latest statement week. More than offsetting these reserve gains were increases in currency in circulation and Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $428 million reserves net, on a weekly average basis. Member bank borrowings averaged $807 million and exceeded excess reserves by $564 million compared to the revised figure of $277 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec 13, Dec. 6, Dec. 15, Dec. 13, and related items 1972 1972 1971 1972 Reserve Bank credit: (In millions of dollars) U.S. Government securities- Bought outright — System account 69,376 235 + 955 1/ 70,017 Held under repurchase agreements 336 195 + 336 1,543 Federal Agency obligations — Bought outright 1,171 6 + 831 1,163 Held under repurchase agreements 27 11 + 27 144 Acceptances- Bought outright 63 1 + 4 62 Held under repurchase agreements 26 2 + 26 105 Loans- Member bank borrowings 807 220 782 995 Other Float 3,022 + 537 - 451 4,190 Other F.R. assets 1,083 + 21 + 156 1,144 Total Reserve Bank credit 75,911 + 349 +2,666 79,363 Gold stock 10,410 -- + 278 10,410 Special Drawing Rights certif. acct. 400 -_ ... 400 Treasury currency outstanding 8,290 + 7 + 688 8,294 95,011 + 356 +3,633 98,467 Currency in circulation 65,874 + 699 +4,834 66,237 Treasury cash holdings 356 + 7 - 101 359 Treasury deposits with F.R. Banks 1,350 + 252 - 213 1,525 Foreign deposits with F.R. Banks 252 + 11 + 109 259 Other deposits with F.R. Banks 662 + 51 48 612 Other F.R. liabilities and capital 2,318 - 192 + 99 2,318 70,812 + 828 +4,680 71,310 Member bank reserves: With Federal Reserve Banks 24,199 _ 472 -1,047 27,157 Currency and coin 6,422 + 551 + 515 6,422 Total reserves held 2/ 31,071 + 79 82 34,029 Required reserves 30,828 + 146 - 121 30,828 Excess reserves 2/ 243 - 67 + 39 3,201 NOTE: A net of $145 million of surplus reserves were eligible to be carried forward from the week ended December 6, into the week ending December 13. On December 13, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $31,435 million, an increase of $72 million for the week. \J Includes $34 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. If 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 sinee Dec. 13 Dec. 6 Dec. 15 197? 1Q79 1Q71 A S S E TS Gold certificate account 10,303 —mt + 428 Special Drawing Rights certif. accts. * 400 -- .. Cash 804) 314 4- 1 + 62 995 + 721 + 967 Loans Acceptances--Bought outright 62 .. - 4 Held under repurchase agreements 105 + 86 + 105 Federal Agency obligations — Bought outright 1,163 - 14 + 823 Held under repurchase agreements 144 + 130 + 144 U. S. Government securities: Bought outright — Bills 29,738 + 963 886 Certificates Notes 36,681 — + 1,127 Bonds 3,598 — + 312 Total bought outright 1/ 70,017 + 963 + 2,325 Held under repurchase agreements 1,543 +1,047 + 1,543 Total U.S. Government securities 71,560 +2,010 + 3,868 Total loans and securities 74,029 +2,933 + 5,903 Cash items in process of collection ( 1,782) 10,177 + 392 - 3,200 Bank premises 171 + 6 + 21 Other assets 1) 973 - 11 + 140 TOTAL ASSETS ( 2,586) 9673"5T +3,321 +3,354 liIAlIIiIllii Federal Reserve notes ( 804) 58,509 + 545 + 4,395 Deposits: Member bank—reserves account 27,077 +2,700 + 2,918 U. S. Treasurer—general account 1,525 + 337 602 Foreign 259 - 25 + 86 Other 612 + 65 97 Total deposits 29,473 +3,077 + 2,305 Deferred availability cash items ( 1,782) 6,067 - 29 - 3,466 Other liabilities and accrued dividends 614 - 66 + 26 TOTAL LIABILITIES ( 2,586) 94,663 +3,527 + 3,260 C A P I T AL A C C O U N TS Capital paid in 788 + 50 Surplus 742 — + 40 Other capital accounts 174 - 206 + 4 Contingent liability on acceptances purchased for foreign correspondents 182 73 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Includes $34 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, December 13, 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 990 117 5,501 +1,981 144 +116 16 days to 90 days 5 50 17,512 88 32 + 15 91 days to 1 year -- 16,409 + 117 191 + 67 Over 1 year to 5 years -- 24,484 -- 540 - 82 Over 5 years to 10 years — 6,108 -- 238 -- Over 10 years — 1,546 — 162 — Total "9"95 167 71,560 +2,010 1,307 +116 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 13, 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 10,303 588 1,339 953 1,050 892 478 2,272 233 200 177 406 1,715 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 804 142 151 17 36 72 128 64 19 14 34 36 91 Other cash 314 13 16 10 39 36 39 42 20 6 42 15 36 Loans 995 27 444 6 187 22 38 125 53 2 32 51 Acceptances: Bought outright 62 -- 62 __ «... --. -- _- _. _. -- -- Held under repurchase agreements 105 -- 105 __ «.- -.- -- _- -- -.. -- — Federal Agency obligations- Bought outright 1,163 54 295 58 89 88 61 188 42 22 46 51 169 Held under repurchase agreements 144 144 U.S. Government securities: Bought outright-- Bills 29,738 1,391 7,539 1,471 2,261 2,260 1,569 4,803 1,084 563 1,179 1 ,305 4,313 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 3,598 168 912 178 274 273 190 581 131 68 143 158 522 Total bought outright \j 70,017 3,274 17,750 3,463 5,324 5,321 3,695 11,308 2,553 1,325 2,777 3 ,072 10,155 Held under repurchase agreements ~~ __ 1,543 1,543 Total U.S. Government securities 71,560 3,274 19,293 3,463 5,324 5,321 3,695 11,308 2,553 1,325 2,777 3 ,072 10,155 Total loans and securities 74,029 3,355 20,343 3,527 5,600 5,431 3,794 11,621 2,648 1,349 2,855 ' "3, 174 10,332 Cash items in process of collection 11,959 j 441 2,557 529 742 1,120 1,275 1,662 557 524 704 699 1,149 Bank premises 171 6 7 4 28 13 15 16 15 30 17 12 8 Other assets 2/ 973 69 246 55 69 63 49 137 33 21 33 41 157 TOTAL ASSETS 98,953 4,637 24,752 5,118 7,597 7,663 5,800 15,884 3,540 2,151 3,877 4 ,397 13,537 1/ Includes $34 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 DECEMBER 13, 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 59,313 3,089 14,680 3,604 4,743 5,259 3,114 9,968 2,305 1,029 2,299 2,258 6,965 Deposits: Member bank reserves 27,077 982 7,520 925 1,899 1,264 1,491 4,143 681 568 882 1,500 5,222 U. S. Treasurer--general account 1,525 91 122 96 120 230 166 157 96 75 54 97 221 Foreign 259 10 1/100 11 19 11 15 32 7 5 9 12 28 Other 612 1 544 7 1 11 6 6 4 2 3 4 23 Total deposits 29,473 1,084 8,286 1,039 2,039 1,516 1,678 4,338 788 650 948 1,613 5,494 Deferred availability cash items 7,849 363 1,175 361 615 752 854 1,218 368 421 535 409 778 Other liabilities and accril ed dividends 614 27 167 29 48 44 38 94 21 13 24 25 84 TOTAL LIABILITIES 97,249 4,563 24,308 5,033 7,445 7,571 5,684 15,618 3,482 2,113 3,806 4,305 13,321 CAPITAL ACCOUNTS Capital paid in 788 33 205 39 71 42 55 123 27 18 33 43 99 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 174 7 46 8 13 12 11 32 6 3 6 8 22 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 98,953 4,637 24,751_ 5JL ,18 7,597 7^663^ 5,800 _15_,884 3,540 2 J51 3,877 4,397 13,537 Contingent liability on ace: eptances purchased for foreiL gn 182 8 2/ 46 10 17 10 12 27 6 4 8 10 24 correspondents FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 15,311 3,699 4,894 5,365 3,330 10,250 2,404 1,059 2,374 2,403 7,317 Collateral for F. R. notes: Gold certificate account 500 350 451 700 155 5 U. S. Government securities 15_A5Q—2->2££ 4,700 4.990 3 500 9 700 2.330 l 080 2.450 2.430 7.600 r r r Total collateral 3,310 15,450 3,800 5,050 5,441 3,500 10,400 2,485 1,080 2,450 2,435 7,600 1/ After deducting $ 159 million participations of other Federal Reserve Banks. 2/ After deducting $ 136 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis