H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE WW. Factors Affecting Bank Reserves and Condition Statement of F.R. Banks ;OL immediate release April 19, 1973 The average of daily figures for total reserves of member banks increased $844 million in the latest statement week to $32,629 million. Required reserves, excess reserves, and member bank borrowings at Federal Reserve Banks all increased. An increase in currency in circulation was the major factor absorbing reserves in the latest statement week. Offsetting this reserve drain were declines in Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital. In addition, System Open Market operations provided $743 million reserves net, on a weekly average basis through outright purchases of Treasury bills and repurchase agreements. Member bank borrowings averaged $1,848 million and exceeded excess reserves by $L,616 million compared to $1,578 million in the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 18, Apr il 11, April 19, April 18, and related items 1973 1973 1972 1973 Reserve Bank credit: (Iri mi llions of do llars) U.S. Government securities- Bought outright — System account 73,594 + 284 +3 ,593 1/ 73,761 Held under repurchase agreements 481 + 406 + 481 1,669 Federal Agency obligations- Bought outright 1,272 - 4 + 462 1,272 Held under repurchase agreements 73 + 34 + 73 251 Acceptances- Bought outright 78 + 2 - 4 79 Held under repurchase agreements 27 + 21 + 27 86 Loans- Member bank borrowings 1,848 348 +1,805 3,159 Other Float 2,330 - 44 - 935 3 ,275 Other F.R. assets 1,025 + 57 4- 29 1 ,085 Total Reserve Bank credit 80,729 +1 ,107 +5,533 84 ,637 Gold stock 10,410 -- + 822 10 ,410 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 8,444 + 7 + 524 8 ,445 99,984 +1 ,114 +6,879 103 ,892 Currency in circulation 66,336 + 430 +5,473 66 ,526 Treasury cash holdings 413 -- + 6 421 Treasury deposits with F.R. Banks 3,104 - 334 +1,569 2 ,787 Foreign deposits with F.R. Banks 272 - 7 + 95 263 Other deposits with F.R. Banks 687 + 38 + 91 658 Other F.R. liabilities and capital 2,529 - 110 + 309 2 ,577 73,340 + 17 +7,541 73 ,232 Member bank reserves: With Federal Reserve Banks 26,643 +1 ,096 - 663 30 660 Currency and coin 5,814 - 252 + 555 5 814 a Total reserves held 2/ 32,629 + 844 + 64 36,6 46 Required reserves 32,397 + 534 - 227 32, 397 Excess reserves 2/ 232 + 310 + 291 4,2 49 NOTE: A net of $36 million of surplus reserves were eligible to be carried forward from the week ended April 11, into the week ending April 18, On April 18, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $31,385 million, a decrease of $220 million for the week. 1/ Includes $36 million securities loaned—fully secured by U.S. Government securities 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 adjustment amounted to $450 million from November 9, through December 27, $279 million from December 28, through March 28, 1973. 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 April 11, April 19, Apr. 18, \m, 1973 1972 A S S E TS Gold certificate account 10,303 -- + 828 Special Drawing Rights certif. accts. * 400 — -- Cash 897) 332 7 + 14 Lo.ins 3,159 +1,916 +2,914 Acceptances--Bought outright 79 + 4 3 Held under repurchase agreements 86 + 86 + 86 Federal Agency obligations--Bought outright 1,272 — + 462 Held under repurchase agreements 251 + 251 + 251 U. S. Government securities: Bought outright—Bills 33,421 + 683 +3,555 Certificates Notes 36,839 .. + 391 Bonds 3,501 39 Total bought outright i/ 73,761 + 683 +3,907 Held under repurchase agreements 1.669 +1.669 +1,66? Total U.S. Government securities 75.430. +2,352 +5.576 Total loans and securities 80,277 +4,609 +9,286 Cash items in process of collection (1,942) 10,094 +1,667 -2,719 Bank premises 200 + 1 + 38 Other assets 2/ 885 + 74 + 2 TOTAL ASSETS (2,839) 102,491 +6,344 +7,449 L. I A 1 U H IE S Federal Reserve notes ( 897) 58,727 174 +5,139 Deposits: Member bank--reserves account 30,580 +5,590 +3,402 U. S. Treasurer—general account 2,787 - 746 + 919 Foreign 263 4 + 121 Other 3) 658 2 45 + 113 Total deposits 3) 34,288 +4,795 +4,555 Deferred availability cash items (1,939) 6,899 +1,251 -2,581 Other liabilities and accrued dividends 756 40 - 208 TOTAL LIABILITIES (2,839) 100,670 +6,260 +7,321 £ A I 1 1 A L A C C O U N TS Capital paid in ""* 812 + 49 Surplus 793 + 51 Other capital accounts 216 81 + 28 Contingent liability on acceptances purchased for foreign correspondents 345 34 80 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $36 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). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 18, 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 3,140 00 7,078 +2, 743 267 +267 16 days to 90 days 19 65 21,359 - 414 36 - 16 91 days to 1 year — 13,275 + 23 214 -- 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 37159- 165 75,430 +2,352 1,523 +251 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 APRIL 18, 1973 * New Phila Rich St. Minne Kansas San Total Boston Cleve Atlanta Chicago Dallas York delphia land mond Louis apolis City Francisco (In millions of dollars) A S S E TS Gold certificate account 10,303 425 1,713 606 1,188 582 450 2,229 437 75 391 236 1,971 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 897 98 189 19 <f2 72 194 47 18 14 28 42 134 Other cash 332 18 24 7 41 36 41 38 23 5 43 13 43 Loans 3,159 139 1,209 255 164 162 200 236 54 52 129 214 345 Acceptances: Bought outright 79 -- 79 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements j 86 -- 86 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 1 1,272 59 334 C-5 93 94 66 204 47 27 52 57 174 Held under repurchase agreements 251 -- 251 -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 33,421 1,5*4 8,788 1,702 2,449 2,465 1, 74 8 5,350 1,228 713 1,355 1,504 4,575 Certificates: father 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 outrignt u 7 3,761 3,408 19,394 3,756 5,405 5,439 3,859 11,808 2,710 1,574 2,991 3,319 10,098 Held under repurchase agreements | 1,669 -- 1,669 -- -- _. -- -- _- -- -- -- -- Total U.S. Government securities 75,430 3,408 21,063 3,756 5,405 5,439 3,859 11,808 2,710 1,574 2,991 3,319 10,098 Total loans and securities 80,277 3,606 23,022 4,076 5,662 5,695 4,125 12,248 ~278ll 1,653 3,172 3,590 10,617 Cash items in process of collection 12,036 540 1,830 804 5-3 1,305 1,364 1,693 595 486 722 656 1,498 Bank premises 200 32 7 5 27 14 15 17 14 32 17 12 8 Other assets 2/ 885 39 221 49 58 64 49 128 29 24 32 36 156 TOTAL ASSETS 105,330 4,781 27,099 5,589 7,594 7,804 6,260 16,470 3,942 2,296 4,420 4,599 14,476 Includes $36 nillion securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 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 APRIL 18, 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 59,624 3,065 14,787 3,694 4,726 5,295 3,071 9,944 2,342 1,082 ! 2,347 2,266 7,005 Deposits: Member bank reserves 30,580 878 9,208 1,090 1,917 1,277 1,856 4,482 812 629 1,123 1,486 5,822 1*. S. Treasurer--general account 2,787 212 313 187 260 204 247 278 249 1031 213 192 329 Toreign 263 10 1/ 82 12 22 13 17 39 8 6 10 13 31 Other 661 1 572 15 1 16 9 15 2 1 3 5 21 Tote 1 deposits 34,291 1,101 10,175 1,304 2,200 1,510 2,129 4,814 1,071 73S> 1,349 1,696 6,203 Deferred availability cash items 8,838 506 1,441 468 450 846 891 1,313 441 415 620 509 938 • tlier liabilities and accrued dividends 756 34 225 35 58 51 42 111 25 18 29 31 Q7 TOTAL LIABILITIES 103,509 4,706 26,628 5,501 7,*34 7,702 6,133 16,182 3,879 2,254 4,345 4,502 14,243 CAPITAL ACCOUNTS Capital paid in 812 33 208 39 72 44 59 128 28 19 34 44 104 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 216 8 56 10 16 16 13 36 8 •5 ft in 10 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 105,330 4,781 27.099 5.589 7.594 7.804 6.260 36.470 3.942 2.296 4.4?0 4,^99 14,475 Contingent liability on ace :eptances purchased for foreign c orre s ponden t s 345 , 14 2/ 90 17 32 18 24_ 5L. 11. a L4_ L9_ „41_. FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 15,542 3,752 4,877 5,451 3,327 10,153 2,474 1,109 2,442 2,431 7,345 Collateral for F. R. notes: Gold certificate account 400 350 410 — 700 155 — — 5 U. S. Government securities 15,850 3.500 4.700 5,08? 3,5QQ 9,9QO 2,380 1,130 2,^00 ? 4ao 7 6nn T Total collateral 3,290 15,850 3,900 5,050 5,495 3,500 10,600 2,535 1,130 2,500 2,485 7,600 1/ After deducting $181 million participations of other Federal Reserve Banks, * Estimated (Cleveland District), 2_/ After deducting $255 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis