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 c For immediate release April 26, 1973 Effective April 19, 1973, the Board's Regulation A, which governs lending by Federal Reserve Banks, was revised to assist smaller member banks to meet the seasonal borrowing needs of their communities. Beginning with this release, the H.4 l will 0 indicate under the item "Loans," the amount of such loans to member banks for seasonal purposes„ The average of daily figures for total reserves of member banks declined $325 million in the latest statement week to $32,304 million. Required reserves and member bank borrowings at Federal Reserve Banks declined while excess reserves showed little change. An increase in Treasury deposits with Federal Reserve Banks was the major factor absorbing reserves in the latest statement week. Reserves were provided by increases in float and other Federal Reserve assets. In addition, System Open Market Operations provided $266 million reserves net, on a weekly average basis through outright purchases of Treasury bills and repurchase agreements. Some reserves were absorbed during the week through matched sales-purchase transactions. Averages o f daily figures Member bank reserves, Week ended Chan ge from week ended ] Wednesday, Reserve Bank credit, 1 * April 25, Apr il 18, April 26, and related items 1973 1973 1972 April 25, Reserve Bank credit: (Irl mi llions of dollars) 1973 U.S. Government securities-- Bought outright--System account 73,635 + 41 +3,459 1/2/73,442 Held under repurchase agreements 650 + 169 + 466 584 Federal Agency obligations-- Bought outright; 1,272 + 318 1,272 Held under repurchase agreements 97 24 + 94 95 Acceptances — Bought outright 82 + 4 1 82 Held under repurchase agreements 55 + 28 + 38 31 Loans-- Total member bank borrowing 1,646 202 +1,367 1,521 Includes seasonal borrowing of: 9 + 9 + 9 9 Other borrowing Float 2,716 + 387 - 397 2,317 Other F.R. assets 1,140 + 115 + 95 1,141 Total Reserve Bank credit 81,292 + 564 +5,439 80,485 Gold stock 10,410 + 822 10,410 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 8,448 + 4 + 512 8,453 100,550 + 568 +6,773 99,748 Currency in circulation 66,296 - 39 +5,663 66,339 Treasury cash holdings 416 + 3 + 18 424 Treasury deposits with F.R. Banks 3,641 + 537 +1,228 3,696 Foreign deposits with F.R. Banks 258 - 14 + 106 240 Other deposits with F.R. Banks 663 - 24 + 77 682 Other F.R. liabilities and capital 2,626 + 97 + 343 2,643 73,900 + 561 +7,435 74,024 Member bank reserves: With Federal Reserve Banks 26,651 + 8 - 661 25,724 Currency and coin 5,481 - 333 + 127 5,481 Total reserves held 3/ 32,304 - 325 - 362 31,377 Required reserves 32,064 - 333 - 384 32,064 Excess reserves 3/ 240 + 8 + 22 - 687 NOTE: A net of $154 million of surplus reserves were eligible to be carried forward from the week ended April 18, into the week ending April 25. On April 25, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,850 million, a decrease of $535 million for the week. 1/ Excludes $725 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $79 million securities loaned--fully secured by U.S Government securities pledged with Federal Reserve Banks. 3/ 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 (Boston 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 Apr. 25 April 18, April 26, 1973 ;?73 I 1973 A S S E TS 10,3 03 4- 828 Gold certificate account 400 Special Drawing Rights certif. accts. * Cash (1,016) 320 11 4 Loans 521 -1,638 - 268 82 + 3 Acceptances--Bought outright 31 55 - 54 Held under repurchase agreements 272 + 293 Federal Agency obligations—Bought outright 95 - 156 + 80 Held under repurchase agreements U. S. Government securities: 32,895 - 526 +2,698 Bought outright—Bills Certificates Notes 36,976 + 137 + 528 Bonds 3.571 + 70 + 1/ .2/73,442 - 319 +3,257 Total bought outright 5BA -1 ,085 - 492 Held under repurchase agreements 74.026 -1 ,404 ±2x261 Total U.S. Government securities Total loans and securities 77,027 -3 ,250 +2,816 Cash items in process of collection (2 050) 8,427 -1 ,712 -3,378 Bank premises 199 - 1 + 37 Other assets 3/ 241 t 54. ± L TOTAL ASSETS" (3,066) 97.618 -4 ,920 + 301 L I A B I L I T I ES Federal Reserve notes (1,016) 58,523 - 196 +5,132 Deposits: Member bank--reserves account 25,644 -4,936 -4,855 U. S. Treasurer--general account 3,696 + 909 +1,874 Foreign 240 - 23 + 112 Other ( 9) 682 ± Ik + 109 Total deposits ( 9) 30,262 -2,760 -4,026 Deferred availability cash items (2,041) 6,190 -2,406 - 767 Other liabilities and accrued dividends 740 + 187 12. TOTAL LIABILITIES (3,066) 95,715 z + 153 -5,001 C A P I T AL A C C O U N TS Capital paid in 813 + 51 Surplus 793 + 51 Other capital accounts 229977 + 81 + 46 Contingent liability on acceptances purchased for foreign correspondents 351 4. 6 + g6 * Figures in parentheses are the eliminations made in the consolidating process. I? Excludes $725 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $79 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 1' Includes assets denominated in foreign currencies. Estimated (Boston and Dallas Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 25. 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 -ances securities obligations Loans Holdings Weekly Holdings Weekly changes Changes Within 15 days 1,516 45 5,284 -1,794 111 -156 16 days to 90 days 5 68 21,506 + 147 42 + 6 91 days to 1 year -- 13,361 + 86 231 + 17 Over 1 year to 5 years — 28,148 + 127 545 - 23 Over 5 years to 10 years — 4,138 + 19 247 -- Over 10 years -- — 1.589 + 11 191 — Total 1,521 13 74,026 -1,404 1,367 -156 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 25, 1973 * New Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago D<a lias York delphia land mond Louis apolis City Francisco (In millions of dollars) A S S E TS Gold certificate account 10,303 784 1,507 917 644 449 708 1,942 501 280 515 362 1,694 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,016 111 209 28 47 83 208 52 22 18 29 47 152 Other cash 320 17 23 6 38 36 40 38 23 5 42 12 40 Loans 1,521 66 327 95 238 151 73 232 39 28 72 102 98 Acceptances: Bought outright 82 -- 82 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements 31 -- 31 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 1,272 59 334 65 93 94 66 204 47 27 52 57 174 Held under repurchase agreements 95 -- 95 -- — -- -- -- -- -- -- — -- U.S. Government securities: Bought outright-- Bills 32,895 1,520 8,649 1,675 2,410 2,426 1,721 5,266 1,209 702 1,334 1 ,480 4,503 Certificates: Other -- -- -- -- -- -- -- -- -- -- -- -- -- Notes 36,976 1,708 9,722 1,883 2,709 2,727 1,935 5,919 1,358 789 1,500 1 ,664 5,062 Bonds 3,571 165 939 182 262 263 187 572 131 76 145 160 489 Total bought outright 1/ 2/ 73,442 3,393 19,310 3,740 5,381 5,416 3,843 11,757 2,698 1,567 2,979 ~T, 304 10,054 Held under repurchase agreements 584 -- 584 -- -- -- -- -- -- -- -- -- -- Total U.S. Government securities 74,026 3,393 19,894 3,740 5,381 5,416 3,843 11,757 2,698 1,567 2,979 ~T, 304 10,054 Total loans and securities 77,027 3,518 20,763 3,900 5,712 5,661 3,982 12,193 2,784 1,622 3,103 3 ,463 10,326 Cash items in process of collection 1 10,477 313 1,397 743 521 1,371 1,212 1,405 520 399 734 550 1,312 Bank premises 199 31 7 5 27 14 15 17 14 32 17 12 8 Other assets 3J 942 41 234 51 67 67 49 136 31 24 36 45 161 TOTAL ASSETS 100,684 | 4,848 24,233 5,673 7,089 7,717 6,236 15,853 3,910 2,387 4,491 4 ,505 13,742 1/ Excludes $725 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $79 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Estimated (Boston 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 April 25, 1973 New Phila Cleve Rich St. Minne Kansas * San "k 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 59,539 3,074 14,803 3,701 4,707 5,297 3,048 9,935 2,337 1,082 2,347 2,263 6,945 Deposits: Member bank reserves 25,644 944 6,379 1,099 1.432 1,133 1,704 3,864 732 656 1,091 1,390 5,220 U. S. Treasurer—general account 3,696 307 404 275 193 223 406 351 320 208 367 305 337 Foreign 240 9 1/ 74 11 21 12 16 35 8 5 9 12 28 Other 691 2 577 14 — 15 17 32 1 2 3 4 24 Total deposits 30,271 1,262 7,434 1,399 1,646 1,383 2,143 4,282 1,061 871 1,470 1,711 5,609 Deferred availability cash items 8,231 398 1,302 444 516 879 874 1,223 421 372 566 389 847 Other liabilities and accrued dividends 740 33 201 37 54 50 40 112 26 19 30 41 97 TOTAL LIABILITIES 98,781 4,767 23,740 5,581 6,923 7,609 6,105 15,552 3,845 2,344 4,413 4,404 13,498 CAPITAL ACCOUNTS Capital paid in 813 33 208 39 73 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 297 14 78 14 21 22 17 49 10 6 11 14 41 TOTAL LIABILITIES AND 100,684 4,848 24,233 5,673 7,089 7,717 6,236 15,853 3,910 2,3f? 4,491 4,505 13.742 CAPITAL ACCOUNTS Contingent liability on ace .eptances purchased for forei -gn correspondents 351 2/.. 15... 91 17 32 18 25 5£_ 12_ §_ 15 19 .44__ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 15,567 3,762 4,867 5,466 3,318 10,163 2,472 1,111 2,454 2,423 7,344 Collateral for F. R. notes: Gold certificate account 400 350 410 — 700 155 -- — 5 U. S. Government securities 15.850 3.500 4,700 5.115 3.500 9,900 2.380 l 130 2 500 2.480 7 600 r P r Total collateral 3,290 15,850 3,900 5,050 5,525 3,500 10,600 2,535 1,130 2,500 2,485 7,600 J7 After deducting $ 166 million participations of other Federal Reserve Banks, * Estimated (Boston and Dallas Districts) 2/ After deducting $ 260 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis