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 January 4, 1973 The average of daily figures for total reserves of member banks increased $1,006 million in the latest statement week to $32,543 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. A decline in float and an increase in other deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. A decline in other Federal Reserve liabilities and capital was the only factor supplying a significant amount of reserves. In addition, System Open Market operations provided $1,145 million reserves net, on a weekly average basis through outright purchase of Treasury bills and repurchase agreements. Member bank borrowings averaged $1,751 million and exceeded excess reserves by $1,265 million compared to $863 million in the previous week. Averages of daily f igures Member bank reserves, Week ended Chang, e from week ended Wednesday, Reserve Bank credit, Jan 3, Dec • 27, I Jan. 5, Jan 3, and related items 1973 1972 | 1972 1973 Reserve Bank credit: (Irl mill ions of dollars) U.S. Government securities-- Bought outright--System account 69,839 + 483 4- 804 1/ 70,050 Held under repurchase agreements 536 + 536 - 513 ~ 2,103 Federal Agency obligations-- Bought outright 1,311 4- 21 4- 829 1,311 Held under repurchase agreements 51 4- 51 41 151 Acceptances-- Bought outright 71 4- 1 8 72 Held under repurchase agreements 53 4- 53 73 121 Loans-- Member bank borrowings 1,751 + 631 4-1,694 889 Other Float 3,986 - 735 - 274 4,022 Other F.R. assets 1,255 4- 69 4- 177 1,274 Total Reserve Bank credit 78,852 +1 ,109 4-2,594 79,993 Gold stock 10,410 -- 4- 278 10,410 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 8,303 4- 4 4- 677 8,305 97,965 4-1, 113 4-3,550 99,108 Currency in circulation 66,553 - 22 4-5,527 66,526 Treasury cash holdings 346 — - 116 343 Treasury deposits with F.R. Banks 1,715 4- 26 - 833 1,048 Foreign deposits with F.R. Banks 322 4- 42 4- 24 320 Other deposits with F.R. Banks 767 4- 176 95 713 Other F.R. liabilities and capital 2,213 - 172 4- 61 2,252 71,916 4- 50 4-4,568 71,202 Member bank reserves: With Federal Reserve Banks 26,049 4-1, 063 -1,019 27,907 Currency and coin 6,215 4- 114 4- 469 6,215 Total reserves held _2/ 32,543 4-1, 006 - 271 34,401 Required reserves 32,057 4- 777 - 445 32,057 Excess reserves 2_! 486 4- 229 4- 174 j 2,344 NOTE: A net of $59 million (est.) of surplus reserves were eligible to be carried forward from the week ended December 27, 1972, into the week ending January 3. On January 3, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,829 million, a decrease of $474 million for the week. 1/ Includes $59 million securities loaned — fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Adjusted to include $279 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 Jan. 3, Dec. 27, Jan. 5 4 1973 1972 1972 A S S E TS Gold certificate account 10,303 __ + 428 Special Drawing Rights certif. accts. * 400 — ~ Cash (1,176) 303 7 + 45 Loans 889 - 545 + 845 Acceptances--Bought outright 72 + 3 - 5 Held under repurchase agreements 121 + 121 + 79 Federal Agency obligations—Bought outright 1,311 — + 834 Held under repurchase agreements 151 + 151 + 93 U. S. Government securities: Bought outright—Bills 29,906 +1,816 - 249 Certificates Notes 36,681 -- + 948 Bonds 3,463 — + 139 Total bought outright 1/ 70,050 +1,816 + 838 Held under repurchase agreements 2,103 +2,103 +1 ,575 Total U.S. Government securities 72,153 +3,919 +2 ,413 Total loans and securities 74,697 +3,649 +4, 259 Cash items in process of collection (1,399) 11,437 +1,193 -1, 397 Bank premises 194 + 21 + 44 Other assets 2/ 1,080 + 34 + 131 TOTAL ASSETS (2,575) 98,414 +4,890 +3_, 510 Federal Reserve notes (1,176) 58,759 - 493 +4, 924 Deposits: Member bank—reserves account 27,827 +5,432 +1, 548 U. S. Treasurer—general account 1,048 -1,216 -2, 023 Foreign 320 + 24 + 18 Other 713 + 56 - 16 Total deposits 29,908 +4,296 - 473 Deferred availability cash items (1,399) 7,495 +1,234 -1, 085 Other liabilities and accrued dividends 636 + 62 + 60 TOTAL LIABILITIES (2,575) 96,798 +5,099 +3, 426 C A P I T AL A C C O U N TS Capital paid in 792 + 49 «• mm Surplus 793 + 51 + 51 Other capital accounts 31 - 260 - 16 Contingent liability on acceptances purchased for foreign correspondents 184 10 70 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $59 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, JANUARY 3, 1973 (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 887 136 6,600 +2, 870 151 +151 16 days to 90 days 2 57 17,284 + 960 32 -- 91 days to 1 year — 16,131 + 89 207 -- Over 1 year to 5 years — 24,484 -- 612 + 2 Over 5 years to 10 years — 6,108 -- 269 - 2 Over 10 years -- — 1,546 — 191 -- Total 889 193 72,153 +3,919 1,462 +151 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 JANUARY 3, 1973 New Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Dallas York delphia land mond Louis apolis City Francis ^ • (In millions of dollars) A §. S E T !3 Gold certificate account 10,303 471 987 668 1,207 864 448 2,409 500 177 560 422 1,590 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,176 167 187 59 81 124 158 108 38 28 39 49 138 Other cash 303 13 15 9 38 35 39 39 21 5 41 14 34 Loans 889 38 329 2 24 34 21 301 20 2 10 90 U Acceptances: Bought outright 72 -- 72 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements 121 -- 121 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright | 1,311 62 332 72 98 98 72 211 47 26 52 57 184 Held under repurchase agreements 151 -- 151 -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 29,906 1,406 7,583 1,645 2,238 2,234 1,642 4,812 1,075 586 1,179 1 ,305 4,20] Certificates: Other """ -- -_ -- -- -- -- -- -- -- -- -- -- Notes 36,681 1,724 9,302 2,018 2,746 2,741 2,013 5,901 1,318 718 1,446 1 ,602 5,152 Bonds 3,463 163 878 191 259 259 190 557 124 68 137 151 48( Total bought outright 1/ 70,050 3,293 17,763 3,854 5,243 5,234 3 3 845 11,270 2,517 r, 372 2,762 r, 058 9,83c Held under repurchase agreements 2,103 .- 2,103 -. -- -- -- -- -- -- -- «. -• Total U.S. Government securities 72,153 3,293 19,866 3,854 5,243 5,234 3,845 11,270 2,517 T ,372 2,762" ,058 9,83S Total loans and securities 74,697 3,393 20,871 3,928 5,365 5,366 3,938 11,782 2,584 ,400 2,824 3 ,205 10,041 1 Cash items in process of collection 12,836 490 2,909 426 709 1,160 1,370 1,897 575 612 771 674 1,24: Bank premises 194 29 7 5 27 13 15 16 15 30 17 12 c Other assets 2/ 1,080 58 280 60 85 76 1 7 159 37 23 43 61 14: J 1 TOTAL ASSETS 100,989 ; 4,644 25,349 5,178 7,545 7,674 6,047 16,480 3,785 2 ,282 4,310 4 ,451 13,24; 1/ Includes $59 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 JANUARY 3, 1973 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 59,935 3,121 14,883 3,641 4,763 5,306 3,177 10,048 2,316 1,041 2,311 2,292 7,036 Deposits: Member bank reserves 27,827 1 931 7,916 906 1,776 1,204 1,636 4,473 790 629 1,186 1,443 4,937 U. S. Treasurer—general account 1,048 i 54 188 68 101 108 68 64 98 64 53 106 76 Foreign 320 ! 15 1/ 76 17 30 17 22 49 11 8 14 18 43 Other 713 1 641 14 — 11 7 6 2 2 2 8 19 Total deposits 29,908 1,001 8,821 1,005 1,907 1,340 1,733 4,592 901 703 1,255 1,575 5,075 Deferred availability cash items 8,894 426 1,031 421 685 897 987 1,495 492 485 654 472 849 Other liabilities and accrued dividends 636 28 193 32 44 45 37 91 21 16 23 25 81 TOTAL LIABILITIES 99,373 4,576 24,928 5,099 7,399 7,588 5,934 16,226 3,730 2,245 4,243 4,364 13,041 CAPITAL ACCOUNTS Capital paid in 792 33 207 38 72 42 56 124 27 18 33 43 99 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 31 1 7 2 2 2 2 6 1 1 1 1 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 100,989 4,644 25,349 5,178 7,545 7,674 6,047 16,480 _3,_785_ 2,282 4,310 4^451^ 13,244 Contingent liability on ace eptances purchased for foreign correspondents 184 8 11 48 10 17 10 12 27 6 4 8 10 24 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 15,547 3,722 4,923 5,473 3,393 10,394 2,434 1,077 2,417 2,413 7,441 Collateral for F. R. notes: Gold certificate account 600 350 501 700 155 5 U. S. Government securities 15,650 3,300 4,700 5,025 3,500 9^900 2,330 1,100 2,450 2,480 7,600 Total collateral 3,320 15,650 3,900 5,050 5,526 3,500 10,600 2,485 1,100 2,450 2,485 7,600 \J After deducting $244 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