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 18, 1973 The average of daily figures for total reserves of member banks increased $1,526 million in the latest statement week to $33,991 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. A more than seasonal decline in float was the major factor absorbing reserves in the latest statement week. Partially offsetting this reserve drain was a decline in currency in circulation. In addition, System Open Market operations provided $341 million reserves net, on a weekly average basis through repurchase agreements. Member bank borrowings averaged $1,301 million and exceeded excess reserves by $1,009 million compared to the revised figure of $605 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Reserve Bank credit, Jan. 17, Jan. 10, Jan. 19, and related items 1973 1973 1972 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright--System account 70,244 Held under repurchase agreements 374 Federal Agency obligations-- Bought outright 1,311 Held under repurchase agreements 20 Acceptances- Bought outright 78 Held under repurchase agreements 25 Loans- Member bank borrowings 1,301 Other Float 3,746 Other F.R. assets 1,311 Total Reserve Bank credit 78 Gold stock 10 Special Drawing Rights certif. acct. Treasury currency outstanding 8 97 Currency in circulation 65 Treasury cash holdings Treasury deposits with F.R. Banks Foreign deposits with F.R. Banks Other deposits with F.R. Banks Other F.R. liabilities and capital Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held 2/ Required reserves ~~ Excess reserves 2/ i—i Wednesday, Jan. 17, 1973 18 + 334 1/ 70,305 + 324 - 173 606 + 661 1,311 14 3 53 + 2 + 1 78 + 19 - 53 70 + 610 +1,287 1,073 ml 757 + 393 4,386 + 35 + 130 1,385 • 410 + 228 4-2, 577 79,267 ,410 -- + 278 10,410 400 400 ,319 + 5 + 670 8,320 ,539 + 233 +3 ,525 98,397 ,496 - 527 +5 ,271 65,332 366 + 16 - 120 376 ,664 - 43 - 851 1,842 291 + 4 + 143 288 606 - 67 - 131 633 2 ,325 + 71 + 115 2,361 70,748 " 546 +4 ,427 70,832 26,792 + 779 _ 902 27,566 6,920 + 747 + 949 6,920 33,991 "hi, 526 + 326 34,765 33,699 4-1, 320 + 252 33,699 292 + 206 •f 74 1,066 NOTE: A net of $105 million (est.) of surplus reserves were eligible to be carried forward from the week ended January 10, into the week ending January 17. On January 17, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,568 million, a decrease of $45 million for the week. U Includes $49 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve. Banks. 1) 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. The adjustment amounted to $450 million from November 9, through December 27. * Estimated (Cleveland 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- ) Wednesday Change since Jan. 17, Jan. 10, Jan. 19, 1973 1973 1972 A S S E TS Gold certificate account 10,30.3 + 428 Special Drawing Rights certif. accts. * 400 -- — Cash (1,558) 330 + 13 + 47 Loans 1,073 + 242 +1,049 Acceptances--Bought outright 78 + 2 + 1 Held under repurchase agreements 70 + 70 + 6 Federal Agency obligations-Bought outright 1,311 — + 661 Held under repurchase agreements 53 + 53 + 22 U. S. Government securities: Bought outright—Bills 30,161 107 - 494 Certificates Notes 36,681 -- + 776 Bonds 3,463 — + 112 Total bought outright 1/ 70,305 + 107 + 394 Held under repurchase agreements 606 + 606 - 253 Total U.S. Government securities 70,911 + 713 + 141 Total loans and securities 73,496 +1,080 +1,880 Cash items in process of collection (2,024) 11,475 + 893 - 610 Bank premises 194 -- + 42 Other assets 2/ 1,191 + 83 + 120 TOTAL ASSETS (3,582) 97^389 +2,069 +1,907 k I h. 1 Ik II I1L 1 Federal Reserve notes (1,558) 57,610 - 580 +4,679 Deposits: Member bank—reserves account 27,486 +1,810 - 506 U. S. Treasurer—general account 1,842 - 119 - 649 Foreign 288 17 + 161 Other 633 - 212 - 145 Total deposits 30,249 +1,462 -1,139 Deferred availability cash items (2,024) 7,169 +1,096 -1,760 Other liabilities and accrued dividends 609 + 25 + 44 TOTAL LIABILITIES (3,582) 95,637 +2,003 +1,824 £ A L I 1 A L A C C O U N TS Capital paid in 796 + 2 + 48 Surplus 793 -- + 51 Other capital accounts 163 + 64 16 Contingent liability on acceptances purchased for foreign correspondents 199 10 54 1/ Includes $49 million securities loaned--fully secured by U. S. Government securities pledged with Federal Reserve Banks. I! Includes assets denominated in foreign currencies. * Figures in parentheses are the eliminations made in the consolidating process. Estimated (Cleveland District.) MATURITY DISTRIBUTION OF LOANS AND SECURITIES, January 17, 1973 Q (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 1,073 90 5,728 +1,130 53 +53 16 days to 90 days 58 16,634 - 556 40 -- 91 days to 1 year — 16,411 + 139 199 -- Over 1 year to 5 years -- 24,484 -- 612 -- Over 5 years to 10 years — 6,108 __ 269 -- Over 10 years — — 1,546 — 191 — Total 1,073 148 70,911 713 1,364 +53 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 17, 1973 11 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 10,303 291 2,627 375 822 764 271 1,956 382 187 435 471 1,722 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,558 198 269 76 92 151 234 148 44 31 35 65 215 Other cash 330 16 20 11 38 39 43 43 23 5 42 14 36 Loans [ 1,073 36 91 35 77 15 76 457 58 33 11 1 183 Acceptances: Bought outright [ 78 -- 78 -- -- -- -- — — -- -- -- -- Held under repurchase agreements 70 -- 70 -- -- _- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright | 1,311 62 332 72 98 98 72 211 47 26 52 57 184 Held under repurchase agreements -- 53 — — — — -- -- — — -- -- ! 53 U.S. Government securities: Bought outright-- Bills | 30,161 1,417 7,648 1,659 2,257 2,253 1,656 4,853 1,084 591 1,189 1,317 4,237 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 68 137 151 486 Total bought outright 1/ 70,305 3,304 17,828 3,868 5,262 5,253 3,859 11,311 2,526 1,377 2,772 3,070 9,875 Held under repurchase agreements ~~ 606 — 606 — — -- -- -- -- — — — — Total U.S. Government securities 70,911 3,304 18,434 3,868 5,262 5,253 3,859 11,311 2,526 1,377 2,772 3,070 9,875 Total loans and securities 73,496 3,402 19,058 3,975 5,437 5,366 4,007 11,979 2,631 1,436 2,835 3,128 10,242 Cash items in process of collection 13,499 596 2,575 687 925 1,134 1,583 1,860 655 527 833 749 1,375 Bank premises 194 29 7 5 27 13 15 16 15 30 17 12 8 Other assets 2/ 1,191 54 290 63 91 80 66 174 38 29 43 63 200 TOTAL ASSETS [100,971 i 4,609 24,939 5,215 7,465 7,583 6,241 16,246 3,803 2,252 4,255 4,516 13,847 1/ Includes $49 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks, 2/ Includes assets denominated in foreign currencies. * Estimated (Cleveland 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 JANUARY 17, 1973 San New Phila Cleve- Rich St. Minne Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran A cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 59,168 3,086 14,710 3,610 4,724 5,250 3,107 9,896 2,299 1,037 2,289 2,255 6,905 Deposits: Member bank reserves 27,486 871 7,464 970 1,589 1,171 1,627 4,235 838 628 1,114 1,524 5,455 U. S. Treasurer—general account 1,842 91 472 72 171 190 148 230 91 79 60 80 158 Foreign 288 11 1/ 96 13 24 13 18 41 9 6 11 14 32 Other 633 — 545 5 — 8 8 11 26 1 3 7 19 Total deposits 30,249 973 8,577 1,060 1,784 1,382 1,801 4,517 964 714 1,188 1,625 5,664 Deferred availability cash items 9,193 448 1,029 426 759 813 1,176 1,463 460 446 682 518 973 Other liabilities and accrued dividends 609 28 166 33 44 43 37 92 20 16 23 25 82 TOTAL LIABILITIES 99,219 4,535 24,482 5,129 7,311 7,488 6,121 15,968 3,743 2,213 4,182 4,423 13,624 CAPITAL ACCOUNTS Capital paid in 796 33 207 38 72 42 56 126 27 18 34 43 100 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 163 7 43 9 10 11 9 28 6 3 6 7 24 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 100.971 i 4.609 24.939 5.215 7.465 7.583 6.241 16 r 246 3 r 803 2,252 4,255 4.516 13,847 Contingent liability on ace. eptances purchased for forei- gn correspondents 199 8 2/ 67 9 16 9 13 28 6 4 7 10 22 FEDERAL RESERVE AGENTS* ACCOUNTS F. R. notes outstanding 62,367 3,309 15,571 3,702 4,924 5,472 3,361 10,321 2,421 1,071 2,402 2,410 7,403 Collateral for F. R. notes: Gold certificate account 2,261 250 — 300 350 501 700 155 — — 5 U. S. Government securities 61.625 3,090 15,850 3.6QQ 4,700 5.Q25 3500 Q,qnn 2,310 1,100 ?LW 7 LM\ 7,600 r } t Total collateral 63,886 3,340 15,850 3,900 5,050 5,526 3,500 10,600 2,485 1,100 2,450 2,485 7,600 J./ After deducting $192 million participations of other Federal Reserve Banks. 2j After deducting $132 million participations of other Federal Reserve Banks. * Estimated (Cleveland District) . Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis