H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks f *4L R^ H.4.1 For immediate release May 10, 1973 The average of daily figures for total reserves of member banks declined $302 million in the latest statement week to $32,186 million. Required reserves increased while excess reserves and member bank borrowings at Federal Reserve Banks declined, Increases in currency in circulation and Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. Partially offsetting this reserve drain was an increase in float. In addition, System Open Market Operations provided $400 million reserves net, on a weekly average basis through outright purchases of Treasury bills and repurchase agreements. Averages of daily figures Member Dank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 9, May 2, May 10, May 9, * and related items 1973 1973 1972, 1973 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 74,771 +207 +4,226 1/ 75,040 Held under repurchase agreements 420 +126 + 420 458 Federal Agency obligations-- Bought outright 1,256 - 10 + 277 1,256 Held under repurchase agreements 54 + 29 + 54 60 Acceptances — Bought outright 89 + 6 + 1 90 Held under repurchase agreements 68 + 42 + 68 73 Loans — Total member bank borrowing 1,488 -386 +1,401 2,778 Includes seasonal borrowing of: 18 + 2 + 18 18 Other borrowing Float 2,313 +159 - 884 2,787 Other F.R. assets 1,180 + 60 + 45 1,228 Total Reserve Bank credit 81,639 +233 +5,609 83,770 Gold stock 10,410 + 470 10,410 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 8,464 + 493 8,466 100,913 +236 +6,572 103,046 Currency in circulation 66,445 +312 +5,435 66,869 Treasury cash holdings 421 + 2 - 327 428 Treasury deposits with F.R. Banks 4,497 +413 +1,979 4,685 Foreign deposits with F.R. Banks 332 + 19 + 196 352 Other deposits with F.R. Banks 647 - 13 + 73 628 Other F.R. liabilities and capital 2,739 + 36 + 434 2,532 75,081 +770 +7,790 75,494 Member bank reserves: With Federal Reserve Banks 25,833 -534 -1,216 27,553 Currency and coin 6,181 +232 + 473 6,181 Total reserves held 2_/ 32,186 -302 - 571 33,906 Required reserves 32,337 + 64 - 229 32,337 Excess reserves 2/ - 151 -366 - 342 1,569 NOTE: A net of $175 million of surplus reserves were eligible to be carried forward from the week ending May 2, into the week ending May 9. In addition, $70 million of surplus reserves were allowed to" be carried forward from the week ending April 25, into the week ending May 9, because of a delay in the physical delivery of wire transfers in the week ending April 25. On May 9, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,056 million, a decrease of $328 million for the week. 1_/ Includes $94 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. Estimated (Minneapolis and San Francisco 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 BAN*C S (In millions of dollars) Wednesday Change since May 9, ** May 2, May 10, 1973 1973 1972 A S S E TS Gold certificate account 10,303 + 828 Special Drawing Rights certif. accts. JU 400 -- -- Cash 892) 318 + 1 11 Loans 2,778 +1,960 +2,284 Acceptances—Bought outright 90 + 3 + 8 Held under repurchase agreements 73 + 16 + 73 Federal Agency obligations—Bought outright 1,256 -- + 277 Held under repurchase agreements 60 13 + 60 U. S. Government securities: Bought outright—Bills 34,493 + 406 44,112 Certificates Notes 36,976 — + 528 Bonds . .3.571 __ + 31 Total bought outright 1/ 75,040 + 406 +4,671 Held under repurchase agreements 458 - 43 + 458 Total U.S. Government securities 75,498 + 363 +5,129 Total loans and securities 79,755 +2,329 +7,831 Cash items in process of collection (1 ,659) 8,336 -1,484 -2,547 Bank premises 200 + 1 + 37 Other assets 7j 1,028 + 50 + 11 TOTAL ASSETS (2 ,551) 100,340 + 903 +6,149 k I & Ik LL 11 IH 1 Federal Reserve notes ( 892) 59,041 + 512 +5,077 27,473 +1,203 + 656 Deposits: Member bank—reserves account U. S. Treasurer—general account 4,685 + 271 +1,999 352 + 10 + 231 Foreign 628 38 + 22 Other Total deposits 33,138 +1,446 +2,908 Deferred availability cash items (1,659) 5,629 - 833 -2,201 Other liabilities and accrued dividends 800 + 28 + 248 TOTAL LIABILITIES (2,551) 98,608 +1,153 +6,032" C A P I T AL A C C O U N TS Capital paid in 815 + 1 + 53 Surplus 793 — + 51 Other capital accounts 124 - 251 + 13 Contingent liability on acceptances purchased for foreign correspondents 347 4 -3 4-82 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $94 million securities loaned—fully secured by U.S. Government securi ties pledged with Federal Reserve Banks. 2j Includes assets denominated in foreign currencies. ** Estimated (Minneapolis and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 9, 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 90 2,754 10,511 + 26 60 - 13 16 days to 90 days 73 24 17,398 + 154 44 -t 2 91 days to 1 year -- -- 13,714 + 183 229 - 2 Over 1 year to 5 years -- -- 28,148 -- 545 -- Over 5 years to 10 years -- -- 4,138 -- 247 -- Over 10 years -- — 1,589 -- 191 -- Total 163 2,778 75,498 + 363 1,316 13 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 MAY 9, 1973 New Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Dallas York delphia land mond Louis apolis* City Francisco* 0. n millions of dollars) A S S E TS Gold certificate account 10,303 676 2,097 340 749 950 171 2,514 179 269 331 402 1,625 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 892 104 206 26 45 74 184 45 19 18 26 41 104 Other cash 318 17 23 6 37 36 41 39 22 5 42 13 37 Loans 2,778 169 1,479 48 179 28 142 400 56 22 122 17 116 Acceptances: Bought outright 90 -- 90 — -- -- -- -- -- -- -- -- -- Held under repurchase agreements 73 -- 73 -- -. -- -- -- -- -- .- -- -- Federal Agency obligations-- Bought outright 1,256 59 323 69 93 88 69 202 49 27 51 57 169 Held under repurchase agreements 60 60 __ __ -. —— —— U.S. Government securities: Bought outright-- Bills 34,493 1,617 8,871 1,888 2,549 2,416 1,895 5,554 1,336 758 1,403 1 ,563 4,643 Certificates: Other -- -- — -- -- ... -- -. -_ «.- -- _ _ __ Notes1 I 36,976 1,734 9,509 2,024 2,733 2,590 2,032 5,954 1,431 814 1,503 1 ,675 4,977 Bonds 3,571 167 919 195 264 250 196 575 138 79 145 162 481 Total bought outright 1/ 75,040 3,518 19,299 4,107 5,546 5,256 4,123 12,083 2,905 1 ,651 3,051 ~T, 400 10,101 Held under repurchase agreements 458 -- 458 -- -- -- -- -- -- -- _« -- -_ Total U.S. Government securities 75,498 3,518 19,757 4,107 5,546 5,256 4 t 123 12,033 „__ 3,905 ._ ^1H r 651 3,0V1 _L >A{HL__ _1J1JJ11_ Total loans and securities | 79,755 3,746 21,782 4,224 5,818 5,372 4,334 12,685 3,010 1 ,700 3,224 3 ,474 10,386 Cash items in process of collection 9,995 396 1,552 743 443 1,111 1,148 1,332 426 457 640 568 1,179 Bank premises 200 32 7 5 27 14 15 17 14 32 17 12 8 Other assets 2/ 1,028 46 251 65 71 72 55 153 36 31 38 57 153 TOTAL ASSETS 102,891 5,040 26,011 5,432 7,223 7,665 5,970 16,855 3,721 2 ,519 4,333 4 ,581 13,541 Estimated (Minneapolis and San Francisco Districts). \_l Includes $94 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2y 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 BA"K ON MAY 9, 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 59,933 3,091 14,903 3,715 4,725 5,319 3,075 9,978 2,361 1,095 2,369 2,277 7,025 Deposits: Member bank reserves 27,473 1,066 7,682 843 1,489 1,263 1,677 4.796 686 672 1,075 1,378 4,846 U. S. Treasurer—general account 4,685 410 1,038 309 351 189 215 569 241 274 258 341 490 Foreign 352 15 1/ 97 17 31 18 24 54 12 8 14 19 43 Other 628 | 1 541 16 2 17 9 9 2 1 3 3 24 Total dej>osits 33,138 1,492 9,358 1.185 1,873 1,487 1,925 5,428 941 955 1.350 1,741 5,403 Deferred availability cash items 7,288 350 1,074 406 414 712 803 1,056 330 410 510 435 788 Other liabilities and accrued dividends 800 36 232 42 S7 si 44 121 ?9 1Q V 14 103 TOTAL LIABILITIES 101,159 4,969 25,567 5,348 7,069 7,569 5,847 16,583 3,661 2,479 4,261 4,487 13,319 CAPITAL ACCOUNTS Capital paid in 815 33 208 39 73 45 59 128 28 19 34 45 104 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 124 4 29 6 9 9 9 20 5 3 s 6 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 102,891 5,040 26,011 5.432 7.223 7.665 5.970 16.8'?') 3,77,1 ?,S1Q 4,333 4.581 ...13.541 Contingent liability on ace. eptances purchased for forei• gn correspondents 347 15 2/ 91 17 32 18 24 54 12 8 14 19 43 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 62,284 3,240 15,608 3,768 4,881 5,478 3,301 10,186 2,468 1,121 2,471 2,421 7,341 Collateral for F. R. notes: Gold certificate account 2,175 280 250 350 435 700 155 5 U. £. Government securities 61,775 3,010 15,850 3,600 4,700 5,115 3,500 9,900 2,380 1,140 2,500 2.480 7.600 Total collateral 63,950 3,290 15,850 3,850 5,050 5,550 3,500 10,600 2,535 1,140 2,500 2,485 7,600 1/ After deducting $255 million participations of other Federal Reserve Banks. 2/ After deducting $256 million participations of other Federal Reserve Banks. * Estimated (Minneapolis and San Francisco Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis