H.4.1 Factors Affecting Reserve Balances of Depository Institutions

• \k>££2!?V/. FEDERAL RESERVE F:actors Affecting Bank Reserves and •°^f^r^-- Condition Statement of F.R. Banks H.4.1 For immediate release February 8, 1973 The average daily figures for total reserves of member banks declined $736 million in the latest statement week to $31,812 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined. An increase in float was the major factor supplying reserves in the latest statement week. Partially offsetting this reserve gain was an increase in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $1,020 million of reserves net, on a weekly average basis through the maturing of repurchase agreements made in the previous week and through matched sales-purchase transactions made in the current week. Member bank borrowings averaged $1,231 million and exceeded excess reserves by $1,118 million compared to $877 million for the previous week. Averages of daily jE igures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 7, Jan. 31, Feb. 9, Feb. 7, and related items 1973 * 1973 1972 1973 * Reserve Bank credit: (Ir1 millions of dollars) U.S. Government securities-- Bought outright — System account 70,594 -438 +1,235 1/2/69,088 Held under repurchase agreements 68 -503 + 68 -- Federal Agency obligations-- Bought outright 1,311 -_ + 668 1,311 Held under repurchase agreements — - 43 — — Acceptances- Bought outright 84 + 3 • 14 81 Held under repurchase agreements -- - 39 --• -- Loans-- Member bank borrowings 1,231 - 80 +1,189 967 Other Float 2,567 +929 - 192 3,115 Other F.R. assets 1^322 - 51 + 15 1,304 Total Reserve Bank credit 77,177 -221 +2,997 75,866 Gold stock 10,410 -- + 278 10,410 Special Drawing Rights certif. acct. 400 -- -,- 400 Treasury currency outstanding 8,343 + 12 + 572 8,347 96,330 -209 +3,847 95,023 Currency in circulation 64,278 + 49 +4,701 64,624 Treasury cash holdings 378 + 1 - 124 385 Treasury deposits with F.R. Banks 3,018 +347 54 3,253 Foreign deposits with F.R. Banks 277 - 1 + 121 245 Other deposits with F.R. Banks 633 - 3 - 131 605 Other F.R. liabilities and capital 2,597 + 62 + 215 2,604 71,180 +453 +4,727 71,716 Member bank reserves: With Federal Reserve Banks 25,151 -661 - 879 23,307 Currency and coin 6,382 - 75 + 520 6,382 Total reserves held 3/ 31,812 -736 80 29,968 Required reserves 31,699 -415 - 143 31,699 Excess reserves 3./ 113 -321 + 63 -1,731 NOTE: A net of $201 million of surplus reserves were eligible to be carried forward from the week ended January 31, into the week ending February 7. On February 7, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $31,819 million, an increase of $1,664 million for the week. V Excludes $1,485 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 27 Includes $148 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. _3/ 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, Chicago and Dallas Districts). 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. 31, Feb. 9, FebM i 1973 1972 A S S E TS Gold certificate account 10,303 — + 428 Special Drawing Rights certif. accts. * 400 -- — Cash (1,617) 348 5 + 29 Loans 967 - 343 + 791 Acceptances--Bought outright 81 1 + 13 Held under repurchase agreements __ 59 — Federal Agency obligations—Bought outright 1,311 — + 668 Held under repurchase agreements -- 61 -- U. S. Government securities: Bought outright—Bills 28,944 -2,045 -1, 152 Certificates Notes 36,681 __ + 776 Bonds 3,463 -- + 112 Total bought outright 1/ 2/ 69,088 -2,045 264 Held under repurchase agreements -- - 889 — Total U.S. Government securities 69,088 -2,934 - 264 Total loans and securities 71,447 -3,398 +1, 208 Cash items in process of collection (1,679) 9,309 +1,252 - 838 Bank premises 194 -- + 41 Other assets 3/ 1,110 - 35 - 94 TOTAL ASSETS" (3,296) 93,111 -2,186 774 LIABILITIES Federal Reserve notes (1,617) 56,903 + 314 +4,277 Deposits: Member bank--reserves account 23,227 -3,293 -2,795 U. S. Treasurer—general account 3,253 + 506 + 472 Foreign 245 65 + 100 Other 605 69 - 134 Total deposits 27,330 -2,921 -2,357 Deferred availability cash items (1,679) 6,274 + 393 -1,345 Other liabilities and accrued dividends 645 - 30 + 100 TOTAL LIABILITIES (3,296) 91,152 -2,244 + 675 £AZIIAL A C C O U N TS 800 + 3 + 48 Capital paid in 793 -- + 51 Surplus 366 J- 55 -- Other capital accounts Contingent liability on acceptances purchased for foreign correspondents 209 11 44 Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $1,485 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. y Includes $148 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. ** Estimated (Cleveland, Chicago and Dallas Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 7, 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 964 25 4,945 -2,332 -- -61 16 days to 90 days 3 56 15,244 - 430 56 + 1 91 days to 1 year 16,761 - 172 199 -- Over 1 year to 5 years 24,484 __ 618 +21 Over 5 years to 10 years 6,108 __ 247 -22 Over 10 years 1,546 — 191 -- Total 967 81 69,088 -2,934 1,311 -61 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 FEBRUARY 7, 1973 * * * New Phila Rich St. Minne Kansas San Total Boston Cleve Atlanta Chicago Dallas York delphia land mond Louis apolis City Francisco 0! n millions of dollars) A S S E TS Gold certificate account 10,303 583 3,136 251 835 848 190 2,012 424 164 347 160 1,353 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,617 218 293 81 113 148 221 134 33 33 24 69 250 Other cash 348 18 23 12 40 41 47 44 24 5 43 9 42 Loans 967 36 246 30 9 61 159 191 64 47 42 72 10 Acceptances: Bought outright 81 -- 81 — -- — -- — -- -- — -- -- Held under repurchase agreements — -- -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 1,311 58 341 67 97 96 76 206 48 26 54 61 181 Held under repurchase agreements 1 -- — -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 28,944 1,288 7,527 1,476 2,154 2,117 1,670 4,543 1,056 582 1,199 1 ,340 3,992 Certificates: -- -- -- -- -- -- -- -- -- -- -- -- -- Other Notes 36,681 1,632 9,539 1,872 2,730 2,682 2,116 5,758 1,339 737 1,519 1 ,697 5,060 Bonds 1 3,463 154 900 177 258 253 200 543 126 70 144 160 478 Total bought outright 1/ 2/ 69,088 3,074 17,966 3,525 5,142 5,052 3,986 10,844 2,521 1,389 2,862 T ,197 9,530 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Total U.S. Government securities 69,088 3,074 17,966 3,525 5,142 5,052 3,986 10,844 2,521 1,389 2,862 ~ ,197 9,530 Total loans and securities 71,447 3,168 18,634 3,622 5,248 5,209 4,221 11,241 2,633 1,462 2,958 ~T, 330 97721 Cash items in process of collection ! 10,988 408 1,594 1,138 809 1,070 1,148 1,728 466 430 616 504 1,077 Bank premises | 194 29 7 5 27 13 15 16 15 30 17 12 8 Other assets 3/ 1,110 48 274 64 96 79 63 165 38 29 42 52 160 TOTAL ASSETS 96,407 4,495 24,054 5,196 7,201 7,444 5,927 15,410 3,648 2,160 4,062 4 ,150 12,660 1/ Excludes $1,485 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 27 Includes $148 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Estimated (Cleveland, Chicago and Dallas Districts). 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 FEBRUARY 7, 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 58,520 3,049 14,596 3,573 4,653 5,210 3,024 9,772 2,280 1,031 2,268 2,223 6,841 Deposits: Member bank reserves 23,227 809 5,988 815 1,433 1,102 1,726 3,497 760 536 956 1,205 4,400 U. S. Treasurer—general account 3,253 194 1,153 265 127 244 166 172 131 165 198 186 252 Foreign 245 10 1/ 60 12 23 13 18 39 9 6 10 14 31 Other 605 2 523 23 — 8 7 8 1 2 3 5 23 Total deposits 27,330 1,015 7,724 1,115 1,583 1,367 1,917 3,716 901 709 1,167 1,410 4,706 Deferred availability cash items 7,953 320 1,062 378 752 710 816 1,517 378 360 519 386 755 Other liabilities and accrued dividends 645 27 158 31 47 45 39 99 22 17 27 28 105 TOTAL LIABILITIES 94,448 4,411 23,540 5,097 7,035 7,332 5,796 15,104 3,581 2,117 3,981 4,047 12,407 CAPITAL ACCOUNTS Capital paid in 800 33 207 39 72 43 56 127 27 19 34 43 100 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 366 17 100 21 22 27 20 55 13 6 14 17 54 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 96^407 4,495 24,054 __5jJL96 = _ _7.2_01__ 2,444„ 5,927 15JA1JL^ 3,648_ 2,160 4,062 4,150 12,660 Contingent liability on ace: eptances purchased for forei- gn correspondents 209 9 2/ 54. lil- L9_ 11 L5 13_ —i 5 2 _ 1.1... ?fi L FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 61,708 3,266 15,460 3,660 4,870 5,426 3,312 10,181 2,387 1,068 2,371 2,371 7,336 Collateral for F. R. notes: Gold certificate account 2,341 280 350 350 501 700 155 5 U. S. Government securities 61,385 3,070 15,850 3,400 4,700 5,005 3,500 9,900 2,330 1,100 2,450 2,480 7.600 Total collateral 63,726 3,350 15,850 3,750 5,050 5,506 3,500 10,600 2,485 1,100 2,450 2,485 7,600 1/ After deducting $ 185 million participations of other Federal Reserve Banks. 2J After deducting $ 155 million participations of other Federal Reserve Banks, * Estimated (Cleveland, Chicago and Dallas Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis