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 29, 1972 The average of daily figures for total reserves of member banks increased $144 million in the latest statement week to $31,537 million. Required reserves and excess reserves increased while member bank borrowings at Federal Reserve Banks declined. The major factor supplying reserves in the latest statement week was a more than seasonal increase in float. Partially offsetting this reserve gain were increases in currency in circulation and Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $790 million reserves net, on a weekly average basis. Member bank borrowings averaged $1,120 million and exceeded excess reserves by $863 million compared to $1,070 million in the previous week. Averages c> f daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 27, D ec. 20, Dec. 29, Dec. 27, and related items 1972 1972 1971 1972 Reserve Bank credit: (Irl mi llions oi: dollars) U.S. Government securities-- Bought outright--System account 69,356 - 495 + 903 1/2/68,234 Held under repurchase agreements -- - 364 - 533 -- Federal Agency obligations-- Bought outright 1,290 + 127 + 805 1,311 Held under repurchase agreements -- - 21 43 -- Acceptances-- Bought outright 70 + 4 8 69 Held under repurchase agreements -- - 41 80 -- Loans-- Member bank borrowings 1,120 103 4- 904 1,434 Other Float 4,721 +1 ,534 + 77 4,063 Other F.R. assets 1,186 + 42 + 90 1,219 Total Reserve Bank credit 77,743 + 683 +2,116 76,330 Gold stock 10,410 -- + 278 10,410 Special Drawing Rights certif. acct. 400 -- -» 400 Treasury currency outstanding 8,299 + 5 + 665 8,302 96,852 + 688 +3,060 95,442 Currency in circulation 66,575 + 384 +5,127 66,990 Treasury cash holdings 346 - 6 - 102 361 Treasury deposits with F.R. Banks 1,689 + 300 - 647 2,264 Foreign deposits with F.R. Banks 280 + 2 - 191 296 Other deposits with F.R. Banks 591 + 13 - 117 657 Other F.R. liabilities and capital 2,385 + 50 + 84 2,399 71,866 + 746 44,154 72,967 Member bank reserves: With Federal Reserve Banks 24,986 - 55 -1,095 22,475 Currency and coin 6,101 + 199 + 258 6,101 Total reserves held 3/ 31,537 + 144 - 387 29,026 Required reserves 31,280 + 40 - 330 31,280 Excess reserves 3/ 257 + 104 57 -2,254 NOTE: A net of $124 million of surplus reserves were eligible to be carried forward from the week ended December 20, into the week ending December 27. On December 27, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $31,303 million, a decrease of $70 million for the week. V Excludes $1,305 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. If Includes $26 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ 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 Dec. 27, Dec. 20, Dec. 29, 1972 1972 1971 A S S E TS Gold certificate account + 428 Special Drawing Rights certif. accts. * 400 Cash ( 897) 310 5 + 57 Loans 1,434 8 + 94 Acceptances—Bought outright 69 2 11 Held under repurchase agreements 91 - 183 Federal Agency obligations—Bought outright 1,311 148 + 826 Held under repurchase agreements 39 - Ill U. S. Government securities: Bought outright—Bills 28,090 -1,344 •1,644 Certificates Notes 36,681 — +1,127 Bonds 3,463 — + 177 Total bought outright 1/ 2/ 68,234 -1,344 - 340 Held under repurchase agreements -- - 594 -2,589 Total U.S. Government securities 68,234 -1,938 -2,929 Total loans and securities 71,048 -1,926 -2,314 Cash items in process of collection (1,237) 10,244 - 303 -2,035 Bank premises 173 ~ + 22 Other assets 3/ 1,046 + 44 + 83 TOTAL ASSETS (2,134) 93,524 -2,190 -3,759 L I A B I L I T I ES Federal Reserve notes ( 897) 59,252 + 435 +4,924 Deposits: Member bank—reserves account 22,395 -3,570 -6,972 U. S. Treasurer—general account 2,264 +1,119 + 309 Foreign 296 + 25 + 15 Other 657 + 111 97 Total deposits 25,612 -2,315 -6,745 Deferred availability cash items (1,237) 6,261 - 345 -1,975 Other liabilities and accrued dividends 574 16 57 TOTAL LIABILITIES (2,134) 91,699 -2,241 -3,853 £ A 111 A k A £ £ 2 nn 792 + 2 + 52 Capital paid in 742 -- + 40 Surplus 291 + 49 + 2 Other capital accounts Contingent liability on acceptances purchased for foreign correspondents 174 81 ^Figures in parenthese are the eliminations made in the consolidating process. 17 Excludes $1,305 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions, l_l Includes $26 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, DECEMBER 27, 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 1,433 20 3,730 -1,408 — - 39 16 days to 90 days 1 49 16,324 - 268 32 .-- 91 days to 1 year -- -- 16,042 - 262 207 + 16 Over 1 year to 5 years -- -- 24,484 -- 610 + 70 Over 5 years to 10 years — — 6,108 -- 271 + 33 Over 1.0, years — — 1*546 — 191 + 29 Total 1,434 69 68,234 •1,938 1,311 +109 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.UM STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 27, 1972 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Da lias Francisco (In millions of dollars) A S S E TS Gold certificate account 10,303 111 1,005 956 739 849 788 2,335 485 259 473 654 983 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 897 148 158 35 54 86 108 81 24 24 36 31 112 Other cash 310 14 16 10 39 35 40 40 21 5 41 14 35 Loans 1,434 13 565 73 147 80 107 51 69 11 24 60 234 Acceptances: Bought outright 69 -- 69 -- -- -- -- -- -- __ -- -- -- Held under repurchase agreements -- .- __ -. _- -- -- -- .- -- -- -- -- Federal Agency obligations-- Bought outright 1,311 61 332 65 100 100 69 212 48 25 52 57 190 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 28,090 1,314 7,121 1,389 2,136 2,135 1,482 4,537 1,024 531 1,114 1 ,233 4,074 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 3,463 162 878 171 263 263 183 559 126 66 138 152 502 Total bought outright \_ll_l 68,234 3,191 17,298 3,374 5,188 5,186 3,601 11,020 2,488 1,291 2,707 _. ,994 9,896 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -. -- -- Total U.S. Government securities 68,234 j 3,191 17,298 3,374 5,188 5,186 3,601 11,020 2,488 1,291 2,707 ~~T,9 94 9,896 Total loans and securities 71,048 1 3,265 18,264 3,512 5,435 5,366 3,777 11,283 2,605 1,327 2,783 3 ,111 10,320 Cash items in process of collection 11,481 ' 432 2,493 498 721 1,000 1,264 1,555 461 566 697 712 1,082 Bank premises 173 6 8 5 27 13 15 17 15 30 17 12 8 Other assets 3/ 1,046 72 260 60 77 85 52 153 J34 23 39 55 136 TOTAL ASSETS 95,658 /. "7 3 "7 22,297 5,099 7,125 7,470 6,066 15,534 3,660 2,241 4,101 4 ,603 12,725 1/ Excludes $1,305 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $26 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ 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 27, 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 60,149 3,127 14,877 3,657 4,780 5,336 3,214 10,108 2,327 1,042 2,317 2,309 7,055 Deposits: Member bank reserves 22,395 989 4,849 815 1,391 1,068 1,583 3,563 784 601 993 1,449 4,310 U. S. Treasurer—general account 2,264 146 454 97 87 211 224 228 90 i07 119 239 262 Foreign 296 13 1/ 74 16 27 16 20 45 10 7 13 16 39 Other 657 2 586 5 1 10 7 5 2 2 3 7 27 Total depos its 25,612 1,150 5,963 933 1,506 1,305 1,834 3,841 886 717 1,128 1,711 4,638 Deferred availability cash items 7,498 355 838 391 634 685 857 1,208 365 428 559 463 715 Other liabilities and accrued dividends 574 26 142 27 44 43 40 90 20 15 22 24 81 TOTAL LIABILITIES 93,833 4,658 21,820 5,008 6,964 7,369 5,945 15,247 3,598 2,202 4,026 4,507 12,489 CAPITAL ACCOUNTS Capital paid in 792 33 207 39 72 42 55 124 27 18 33 43 99 Surplus 742 34 193 38 68 38 50 111 25 17 32 41 95 Other capital accounts 291 12 77 14 21 21 16 52 10 4 10 12 42 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 95,658 4,737 22,297 5,099 7.125 7,470 6,066 15,534 3,660 2,241 4,101 4,603 12.725 Contingent liability on ace. eptances purchased for forei• gn correspondents 174 8 2/ 45 9 16 9 12 26 6 4 7 10 22 ——— FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 62,849 3,299 15,382 3,731 4,923 5,462 3,933 10,373 2,435 1,067 2,394 2,420 7,430 Collateral for F. R. notes: Gold certificate account 2,561 250 600 350 501 700 155 5 U. S. Government securities 61,085 3,060 15,650 3,300 4,700 5,025 3,500 9,900 2,330 1,090 2,450 2,480 7,600 Total collateral 63,646 3,310 15,650 3,900 5,050 5,526 3,500 10,600 2,485 1,090 2,450 2,485 7,600 \J After deducting $222 million participations of other Federal Reserve Banks, 2/ After deducting $ 129 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis