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 April 5, 1973 The average of daily figures for total reserves of member banks in creased $943 million in the latest statement week to $32,602 million. Required reserves and excess reserves increased while member bank borrowings at Federal Reserve Banks declined. Increases in currency in circulation and other Federal Reserve lia bilities and capital were the major factors absorbing reserves in the latest statement week. Offsetting these reserve drains was a decline in Treasury de posits with Federal Reserve Banks. In addition, System Open Market operations provided $998 million reserves net, on a weekly average basis through outright purchases of Treasury bills and repurchase agreements. Member bank borrowings averaged $1,755 million and exceeded excess reserves by $1,248 million compared to $1,943 million in *:he previous week. Averages of daily f igures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, April 4, * March 28, 1 April 5, April 4, * and related items 1973 1973 | 1972 1973 Reserve Bank credit: (In mill ions of dollars) U.S. Government securities-- Bought outright--System account 73,124 + 515 +3,825 1/73,213 Held under repurchase agreements 764 + 422 + 200 — Federal Agency obligations-- Bought outright 1,280 __ + 470 1,280 Held under repurchase agreements 55 28 + 31 — Acceptances-- Bought outright 76 _- 5 75 Held under repurchase agreements 55 - 33 — -- Loans- Member bank borrowings 1,755 - 258 +1,614 1,082 Other Float 1,839 + 64 -1,002 2,879 Other F.R. assets 937 + 29 + 46 938 Total Reserve Bank credit 79,884 + 832 +5,178 79,467 Gold stock 10,410 -- + 822 10,410 Special Drawing Rights certif. acct. 400 -- — 400 Treasury currency outstanding 8,427 + 7 + 533 8,436 99,121 + 840 +6,532 98,713 Currency in circulation 65,377 + 247 +4,869 65,802 Treasury cash holdings 409 + 21 5 421 Treasury deposits with F.R. Banks 3,117 - 508 +1,877 3,596 Foreign deposits with F.R. Banks 318 + 14 + 112 271 Other deposits with F.R. Banks 671 + 28 + 14 630 Other F.R. liabilities and capital 2,662 + 103 + 309 2,690 72,553 - 96 +7,174 73,410 Member bank reserves: With Federal Reserve Banks 26,568 + 935 - 642 25,302 Currency and coin _5_ _862 + 115 + 468 5,862 JL Total reserves held 2/ 32,602 + 943 2 31,336 Required reserves 32,095 + 506 - 135 32,095 Excess reserves 2/ 507 + 437 + 133 - 759 NOTE: A net of $29 million of surplus reserves were eligible to be carried forward from the week ended March 28, into the week ending April 4. On April 4, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts"were $31,461 million, a decrease of $659 million for the week. _1/ Includes $69 million securities loaned—fully secured by U.S. Government securi ties pledged with Federal Reserve Banks. 2/ Adjusted to include $172 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 ad justment amounted to $450 million from November 9, through December 27, $279 million from December 28, through March 28, 1973. Estimated (Philadelphia and Cleveland 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 April 4, ** March 2 April 5, 1973 1973 1972 A S S E TS Gold certificate account 10,303 — + 828 Special Drawing Rights certif. accts. * 400 — -- Cash (1,036) 345 7 + 26 1,082 - 946 +1,022 Loans 75 -- 7 Acceptances--Bought outright — 69 90 Held under repurchase agreements 1,280 — + 470 Federal Agency obligations--Bought outright _.. 59 62 Held under repurchase agreements U. S. Government securities: 32,873 + 443 +3,117 Bought outright—Bills Certificates 36,839 + 543 Notes 3.501 + 19 Bonds 73,213 + 443 +3,679 Total bought outright Held under repurchase agreements -1,084 - 879 73.213 - 641 +2,800 Total U.S. Government securities 1/ 75,650 -1,715 +4,133 Total loans and securities 8,694 +1,217 -2,734 Cash items in process of collection (1,820) 199 + 2 + 40 Bank premises 739 13 30 Other assets 2/ 96.330 - 516 +2,263 TOTAL ASSETS (2,856) L I A B I L I T I E S; Federal Reserve notes (1,036) 58,026 + 454 +4,487 Deposits: Member bank--reserves account 25,222 -1,424 -2,361 U. S. Treasurer—general account 3,596 + 214 +2,384 Foreign 271 88 + 35 Other 630 79 66 Total deposits 29,719 -1 ,377 - 8 Deferred availability cash items (1,820) 5,895 + 313 -2, 510 Other liabilities and accrued dividends 708 + 23 + 143 TOTAL LIABILITIES (2,856) 94,348 587 4-2,112 C A P I T AL A C C O U N TS Capital paid in 808 1 4- 47 Surplus 793 + 51 Other capital accounts 381 70 + 53 Contingent liability on acceptances purchased for foreign correspondents 285 + 3 + 19 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $69 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies, fr* Estimated (Philadelphia and Cleveland Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 4, 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 1,071 17 4,626 -1,573 8 60 16 days to 90 days 11 58 21,685 + 795 52 + 1 91 days to 1 year — 13,184 + 137 214 Over 1 year to 5 years — 28,021 — 568 Over 5 years to 10 years — 4,119 -- 247 Over 10 years -- — 1,578 — 191 Total 1,082 75 73,213 641 1,230 59 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 APRIL 4, 1973 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 10,303 549 2,160 726 866 698 541 1,882 389 149 523 270 1,550 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,036 146 217 36 60 81 169 56 20 16 27 53 155 Other cash 345 19 26 10 42 39 38 41 24 6 43 13 44 Loans 1,082 47 354 60 78 73 55 155 36 43 71 105 5 Acceptances: Bought outright 75 -- 75 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 1,280 59 337 65 94 94 67 205 47 27 52 58 175 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 32,873 1,518 8,644 1,674 2,409 2,424 1,720 5,263 1,207 702 1 ,333 1,479 4,500 Certificates: Other -- -- -. -- -- -- -. -- -- -- -- -- -_ Notes 36,839 1,702 9,686 1,876 2,699 2,716 1,928 5,898 1,353 786 1 ,494 1,657 5,044 Bonds 3,501 162 920 178 257 258 183 560 129 75 142 158 479 Total bought outright J7 73,213 3,382 19,250 3,728 5,365 5,398 3,831 11,721 2,689 1,563 T ,969 3,294 10,023 Held under repurchase agreements .- -- -- -- -- -- __ -- -- -~ -- -- -- Total U.S. Government securities 73,213" 3,382 19,250 3,728 5,365 5,398 3,831 11,721 2,689 1,563 T ,969 3,294 10,023 Total loans and securities 75,b50 3,488 20,016 3,853 5,537 5,565 3,953 12,081 2,772 1 633 3 ,092 3,457 10,203 5 Cash items in process of collection 10,514 37b 1,839 570 492 1,254 1,215 1,455 470 417 617 607 1,202 Bank premises 199 31 7 5 27 14 15 17 14 32 17 12 8 Other assets 2/ 739 34 189 38 57 57 38 111 26 19 28 32 110 TOTAL ASSETS 99,186 4,666 24,547 5,261 7,114 7,744 5,991 15,713 3,730 2,279 4 ,362 4,458 13,321 * Estimated (Philadelphia and Cleveland Districts). J7 Includes $69 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 APRIL 4, 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 59,062 3,048 14,678 3,620 4,653 5,259 3,101 9,847 2,318 1,065 2,324 2,234 6,915 Deposits: Member bank reserves 25,222 926 6,573 933 1,467 1,188 1,638 4,018 689 573 1,005 1,360 4,852 U. S. Treasurer—general account 3,596 212 695 241 314 307 329 223 238 172 365 251 249 Foreign 271 11 1/ 71 13 25 14 19 43 9 6 11 15 34 Other 630 1 536 15 1 21 8 8 1 1 4 4 30 Total deposits 29,719 1,150 7,875 1,202 1,807 1,530 1,994 4,292 937 752 1,385 1,630 5,165 Deferred availability cash items 7,715 352 1,294 307 430 788 723 1,146 382 400 544 460 889 Other liabilities and accrued dividends 708 34 182 36 52 53 38 112 25 18 28 31 99 TOTAL LIABILITIES 97,204 4,584 24,029 5,165 6,942 7,630 5,856 15,397 3,662 2,235 4,281 4,355 13,068 CAPITAL ACCOUNTS Capital paid in 808 33 208 39 72 43 58 128 28 19 34 44 102 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 381 15 103 18 28 29 22 64 13 7 14 16 52 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 99,186 4,666 24,547 5,261 7,114 7,744 5,991 15,713 3,730 2,279 4.362 4.458 13.321 Contingent liability on ace; eptances purchased for foreign correspondents 285 12 2/ 74 14 26 15 20 45 10 6 12 15_ 36 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 61,609 3,237 15,526 3,684 4,827 5,401 3,289 10,093 2,429 1,091 2,400 2,348 7,284 Collateral for F. R. notes: Gold certificate account 2,291 280 300 350 501 700 155 5 U. S. Government securities 61.380 3.010 15.850 3.500 4.700 4.950 3.500 9.900 2 330 l 110 2.450 2,480 7 600 r f f Total collateral 63,671 3,290 15,850 3,800 5,050 5,451 3,500 10,600 2,485 1,110 2,450 2,485 7,600 1/ After deducting $ 200 million participations of other Federal Reserve Banks, * Estimated (Philadelphia and Cleveland Districts). 2/ After deducting $ 211 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis