H.4.1 Factors Affecting Reserve Balances of Depository Institutions

of cow FEDERAL RESERVE Factors Affecting Bank Reserves and ?f**LK&y Condition Statement of F.R. Banks H.4.1 For immediate release January 26, 1973 The average of daily figures for total reserves of member banks declined $1,442 million in the latest statement week to $32,549 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined. Major factors absorbing reserves in the latest statement week were a more than seasonal decline in float and an increase in Treasury deposits with Federal Reserve Banks. These reserve drains were partially offset by a decline in currency in circulation. In addition, System Open Market operations provided $141 million reserves net, on a weekly average basis. Member bank borrowings averaged $1,095 million and exceeded excess reserves by $1,080 million compared to $1,009 million for the previous week. Averages of daily Jf igures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 24, Jan. 17, Jan. 26, Jan. 24, and related items 1973 1973 1972 1973 Reserve Bank credit: (Irl mi]L lions of dollars) U.S. Government securities-- Bought outright--System account 70,244 «. _ + 333 1/ 70,457 Held under repurchase agreements 527 + 153 + 527 1,503 Federal Agency obligations-- Bought outright 1,311 --. + 661 1,311 Held under repurchase agreements 10 10 + 10 27 Acceptances-- Bought outright: 80 + 2 + 4 82 Held under repurchase agreements 21 - 4 + 21 59 Loans-- Member bank borrowings 1,095 * 206 +1,083 2,008 Other Float 2,866 - 879 - 158 2,698 Other F.R. assets 1,383 + 72 + 155 1,522 Total Reserve Bank credit 77,537 - 872 +2,635 79,667 Gold stock 10,410 -- + 278 10,410 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 8,326 + 7 + 668 8,328 96,673 - 864 +3,581 98,805 Currency in circulation 64,809 - 684 +5,146 64,603 Treasury cash holdings 372 + 6 - 136 386 Treasury deposits with F.R. Banks 2,303 + 639 - 781 2,207 Foreign deposits with F.R. Banks 306 + 15 + 146 264 Other deposits with F.R. Banks 614 + 8 - 110 593 Other F.R. liabilities and capital 2,411 + 85 + 152 2,459 70,816 + 70 +4,418 70,512 Member bank reserves: With Federal Reserve Banks 25,857 - 935 - 838 28,293 Currency and coin 6,413 - 507 + 516 6,413 Total reserves held 2/ 32,549 -1, 442 - 43 34,985 Required reserves 32,534 -1 ,165 + 134 32,534 Excess reserves 2/ 15 - 277 - 177 2,451 NOTE: A net of $140 million of surplus reserves were eligible to be carried forward from the week ended January 17, into the week ending January 24. On January 24, 1973, marketable U. S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,545 million, a decrease of $23 million for the week. \J Includes $29 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. The adjustment: amounted to $450 million from November 9, through December 27. 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) W ednesday Change since Jan. 24, Jan. 17, Jan. 26, 1973 1973 1972 A S S E TS Gold certificate account 10,303 + 428 Special Drawing Rights certif. accts. * 400 -- -- Cash L.722) 348 + 16 + 42 Loans 2,008 + 935 +1,990 Acceptances--Bought outright 82 + 4 + 5 Held under repurchase agreements 59 - 11 + 59 Federal Agency obligations—Bought outright 1,311 -- + 661 Held under repurchase agreements 27 26 + 27 U. S. Government securities: Bought outright—Bills 30,313 + 152 342 Certificates Notes 36,681 -- + 776 Bonds 3,463 -- + 112 Total bought outright 1/ 70,457 + 152 + 546 Held under repurchase agreements 1,503 + 897 +1,503 Total U.S. Government securities 71,960 +1, 049 +2,049 Total loans and securities 75,447 +1, 951 +4,791 Cash items in process of collection (1,897) 8,881 -2, 532 -2,071 Bank premises 194 -- + 43 Other assets 2/ 1,328 + 142 + 218 TOTAL ASSETS (3,619) 9jy)pj. - 423 +3,451 L I A B I L I T I E S. Federal Reserve notes (1,722) 56,902 691 +4,412 Deposits: Member bank—reserves account 28,213 + 727 +1,365 U. S. Treasurer—general account 2,207 + 365 - 655 Foreign 264 - 24 + 118 Other 3/ 593 - 40 - 123 Total deposits 31,277 +1, 028 + 705 Deferred availability cash items (1,897) 6,263 - 852 -1,846 Other liabilities and accrued dividends 630 + 18 + 84 TOTAL LIABILITIES (3,619) 95,072 - 497 +3,355 £ A I I I A k A £ £ 2 H N I £ Capital paid in 797 + 1 + 46 Surplus 793 -- + 51 Other capital accounts 239 + 73 1 Contingent liability on acceptances purchased for foreign correspondents 199 53 * Figures in parentheses are the eliminations made in the consolidating process. JL/ Includes $29 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 24. 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 1,977 81 6,724 + 996 27 -26 16 days to 90 days 31 60 16,585 - 49 40 -- 91 days to 1 year -- .. 16,513 + 102 209 +10 Over 1 year to 5 years -- -- 24,484 -- 602 -10 Over 5 years to 10 years -- -- 6,108 -- 269 -- Over 10 years — — 1,546 — 191 — Total 2,008 141 71,960 +1,049 1,338 -26 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 JANUARY 24, 1973 New Phila Cleve Rich St. Minne Kan s a s San Total Boston Atlanta Chicago Dal ias York delphia land mond Louis apolis City Francisc (In millions of dollars) A S S E TS Gold certificate account 10,303 556 1,546 205 883 810 868 1,516 390 243 603 559 9 1 7 A Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,722 229 293 93 104 173 233 155 54 34 28 72 254 Other cash 348 17 21 12 41 40 45 43 24 5 43 15 42 Loans 2,008 114 711 15 17 123 56 505 154 47 56 51 Acceptances: Bought outright 82 -- 82 -- -- -- -- -- -- -- -- -- Held under repurchase agreements 59 -- 59 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 1,311 62 332 72 98 98 72 211 47 26 52 57 184 Held under repurchase agreements 27 -- 27 -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 30,313 1,425 7,687 1,667 2,269 2,264 1, 664 4,877 1,089 594 1,195 1 ,324 4,258 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 J7 70,457 3,312 17,867 3,876 5,274 5,264 ~ ,867 11,335 2,531 ~T ,380 2,778 ,077 9,896~ Held under repurchase agreements 1,503 -- 1,503 -- -- -- -- -- -- ~- -- -- -. Total U.S. Government securities 71,960 3,312 19,370 3,876 5,274 5,264 T ,867 11,335 2,531 r, 380 2,778 ~T ,077 9,896 Total loans and securities 75,447 3,488 20,581 3,963 5,389 5,485 3 ,995 12,051 2,732 1 ,453 ~ 2,886 3 ,185 10,239 Cash items in process of collection 10,778 467 ! ,926 821 623 957 1, 230 1,504 502 404 747 538 1,059 Bank premises 194 29 i 5 27 13 15 16 15 30 17 12 8 Other assets 2/ 1,328 54 341 66 152 85 71 185 40 28 44 50 212 TOTAL ASSETS 100,520 4,863 24,808 5,188 7,252 7,599 6 ,479 15,540 3,772 2 ,204 4,383 4 ,445 13,987 If Includes $29 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 24, 1973 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 58,624 3,066 14,613 3,586 4,667 5,215 3,035 9,809 2,281 1,032 2,268 2,236 6,816 Deposits: Member bank reserves 28,213 1,194 7,263 917 1,709 1,302 1,813 3,948 887 668 1,220 1,476 5,816 U. S. Treasurer--general account 2,207 98 466 85 89 180 525 115 91 61 119 140 238 Foreign 264 11 1/ 64 13 25 14 19 43 9 6 11 15 34 Other 593 -- 525 9 1 7 8 9 1 2 3 5 23 Total deposits 31,277 1,303 8,318 1,024 1,824 1,503 2,365 4,115 988 737 1,353 1,636 6,111 Deferred availability cash items 8,160 387 1,240 455 545 737 918 1,234 420 379 664 452 729 Other liabilities and accrued dividends 630 29 161 33 54 42 38 92 21 15 23 25 97 TOTAL LIABILITIES 98,691 4,785 24,332 5,098 7,090 7,497 6,356 15,250 3,710 2,163 4,308 4,349 13,753 CAPITAL ACCOUNTS Capital paid in 797 33 207 38 72 42 56 127 27 18 34 43 100 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 239 11 62 13 18 18 12 39 8 q 8 10 o r- J3 -x TOTAL LIABILITIES AND CAPITAL ACCOUNTS 100,520 4,863 24,808 5,188 7,252 7,599 6,479 15,540 3,772 2,204 4,383 4,445 13,987 Contingent liability on ace: eptances purchased for foreign correspondents 199 8 2/ 52_ 10 13 1Q_ 14 21. Z_ 5 8 11 25 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 15,533 3,689 4,906 5,465 3,348 10,270 2,409 1,075 2,392 2,396 7,394 Collateral for F. R. notes: Gold certificate account 200 350 501 700 155 5 U. S. Government securities 15,850 3,600 4,700 5,025 3,500 9,900 2,330 1,100 2,450 2,480 7,600 Total collateral 3,310 15,850 3,800 5,050 5,526 3,500 10,600 2,485 1,100 2,450 2,485 7,600 \J After deducting $ 200 million participations of other Federal Reserve Banks, 1) After deducting $ 147 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis