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 May 17, 1973 The average of daily figures for total reserves of member banks increased $632 million in the latest statement week to $32,899 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. An increase in currency in circulation and a decline in other Federal Reserve assets were the major factors absorbing reserves in the latest statement week. Partially 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 $535 million reserves net, on a weekly average basis. Averages of daily figures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, May 16, * May 9, May 17, May 16,* and related items 1973 1973 1972 1973 Reserve Bank credit: (Ir\ millions of dollars) U.S. Government securities-- Bought outright—System account 75,040 + 269 44,671 1/75,040 Held under repurchase agreements 616 + 196 + 616 1,210 Federal Agency obligations-- Bought outright 1,256 -.. + 277 1,256 Held under repurchase agreements 108 + 54 + 108 157 Acceptances — Bought outright 92 + 3 + 12 90 Held under repurchase agreements 81 + 13 + 81 100 Loans — Total member bank borrowing 1,816 + 328 +1,777 2,445 Includes seasonal borrowing of: 23 + 5 + 23 29 Other borrowing Float 2,351 _ 26 - 841 3,135 Other F.R. assets 1,055 - 140 + 87 709 Total Reserve Bank credit 82,415 T"T 57 +6,788 84,142 Gold stock 10,410 -- — 10,410 400 — -- 400 Special Drawing Rights certif. acct. Treasury currency outstanding 8,468 + 4 + 481 8,471 101,693 + "7CU +V,26$ 103,423 Currency,in circulation 66,852 + 402 +5,543 67,015 Treasury cash holdings 417 - 4 - 444 414 Treasury deposits with F.R. Banks 4,393 - 104 +2,735 4,925 Foreign deposits with F.R. Banks 314 - 18 + 174 333 Other deposits with F.R. Banks 636 - 12 + 60 634 Other F.R. liabilities and capital 2,619 - 115 + 409 2,686 75,232 + 151 +8,476 76,007 Member bank reserves: With Federal Reserve Banks 26,461 + 547 -1,208 27,415 Currency and coin 6,266 + 85 + 778 6,266 Total reserves held Ij 32,899 + 632 - 258 33,853 Required reserves 32,607 + 270 - 356 32,607 Excess reserves 2/ 1,246 NOTE: A net of $9 million of surplus reserves were eligible to be carried forward forward from the week ended May 9, into the week ending May 16. On May 16, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,527 million, an increase of $471 million for the week. 1/ Includes $112 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 adap tation to Regulation J as amended effective November 9, 1972. * Estimated (San Francisco 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 ** May 16, May 9, May 17, 1973 1973 1972 A S S E TS Gold certificate account 10,303 Special Drawing Rights certif. accts. * 400 — -- Cash ( 911 ) 316 3 - 15 Loans 2,445 - 333 +2,251 Acceptances--Bought outright 90 — + 11 Held under repurchase agreements 100 + 27 + 100 Federal Agency obligations: bought outright 1,256 — + 277 Held under repurchase agreements 157 + 97 + 157 U. S. Government securities: Bought outright—Bills 3344,,449933 — +4,112 Certificates Notes 3366,,993366 - 4400 + 488 Bonds 33..661111 + + 4 4 0 0 + 71 Total bought outright 1/ 75,040 -- +1,671 Held under repurchase agreements 1,210 + 752 +1,210 Total U.S. Government securities 76,250 + 752 +5,881 Total loans and securities 80,298 + 543 +8,677 Cash items in process of collection (2, 140) 10,169 +1, 838 -2,940 Bank premises 202 + 1 + 40 Other assets 2/ 507 - 518 z 65 TOTAL ASSETS (3,0 51) 102,195 +1_, 861 +5,697 Federal Reserve notes / 9H) 59,168 + 123 +5,139 Deposits: Member bank--reserves account 27,335 - 151 -1,412 U. S. Treasurer—general account 4,925 + 240 +3,434 Foreign 333 - 19 + 163 Other 634 + 3 ± fii Total deposits 33,227 + 73 +2,250 Deferred availability cash items (2,140) 7,114 +1, ,512 -2,144 Other liabilities and accrued dividends 872 + _Zi + 321 TOTAL LIABILITIES (3,051) 100,381 +1,779 +5,566 £ A L I 1 A L A C C O U N TS Capital paid in 815 — 4- 48 Surplus 793 .. + 51 Other capital accounts 206 + 82 + 32 Contingent liability on acceptances purchased for foreign correspondents 333 + 35 + 112 * Figres in parentheses are the eliminations made in the consolidating process. 1/ Includes $112 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. ** Estimated (San Francisco District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 16,1973 (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 2,410 119 6,852 -3,659 173 +113 16 days to 90 days 35 71 16,732 - 666 28 - 16 91 days to 1 year -- 14,962 +1,248 229 — Over 1 year to 5 years — 26,832 -1,316 545 — Over 5 years to 10 years -- 9,243 +5,105 247 -- Over 10 years — — 1,629 + 40 191 — Total 2,445 190 76,250 + 752 1,413 + 97 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 MAY 16, 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 1 10,303 414 1,917 513 1,097 954 211 2,294 471 207 375 421 1,429 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 911 100 214 21 42 76 188 46 21 12 28 46 117 Other cash 316 16 23 5 37 36 42 38 23 6 41 12 37 Loans 2,445 268 904 125 223 116 133 173 38 20 131 95 219 Acceptances: Bought outright 90 — 90 — — — — -- — -- -- — — Held under repurchase agreements 100 -- 100 — -- -- — -- -- — — — -- Federal Agency obligations-- Bought outright 1,256 59 323 69 93 88 69 202 49 27 51 57 169 Held under repurchase agreements 157 -- 157 -- -- -- -- — — -- -- -- -- U.S. Government securities: Bought outright-- Bills 34,493 1,617 8,871 1,888 2,549 2,416 1,896 5,554 1,335 759 1,402 1 ,563 4,643 Certificates: Other -- -- -- ~- -- — -- -- — -- -- -- -- Notes 36,936 1,732 9,499 2,022 2,730 2,587 2,029 5,947 1,430 813 1,502 1 ,673 4,972 Bonds 3.611 169 929 198 267 253 198 581 140 79 147 164 486 Total bought outright \J 75,040 . 3,518 19,299 4,108 5,546 5,256 4,123 12,082 2,905 1,651 3,051 ~ ,400 10,101 Held under repurchase agreements 1,210 -- 1,210 — — — — -- — -- -- -_ -_ Total U.S. Government securities 76,250 3,518 20,509 4,108 5,546 5,256 4,123 12,082 2,905 1,651 3,051 ~ ,400 10,101 Total loans and securities 80,298 3,845 22,083 4,302 5,862 5,460 4,325 12,457 2,992 1,698 3,233 3 ,552 10,489 Cash items in process of collection 12,309 489 2,093 798 600 1,432 1,411 1,727 526 497 802 750 1,184 Bank premises 202 33 7 5 27 14 15 17 14 33 17 12 8 Other assets 2/ 507 25 134 34 36 37 32 75 17 14 20 21 62 TOTAL ASSETS 105,246 4,945 26,564 5,701 7,734 8,045 6,246 16,724 4,079 2,474 4,531 4 ,828 13,375 1/ Includes $112 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. * Estimated (San Francisco 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 MAY 16, 1973 San* New Phila Cleve Rich St. Minne Total Boston Atlanta Chicago Kansas Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 60,079 3,095 14,945 3,731 4,741 5,319 3,077 9,996 2,365 1,096 2,375 2,284 7,055 Deposits: Member bank reserves 27.335 942 7,466 1,032 1,874 1,181 1,583 4,375 871 643 1,066 1,579 4,723 U. S. Treasurer—general account 4,925 340 1,162 370 304 343 390 486 329 237 322 253 389 Foreign 333 14 1/ 92 16 29 17 23 51 11 7 14 18 M Other 634 1 547 18 2 13 9 9 5 2 3 5 —. 20 Total deposits 33,227 1,297 9,267 1,436 2,209 1,554 2,005 4,921 1,216 889 1,405 1,855 5,173 Deferred availability cash items 9,254 440 1,618 403 564 1,006 990 1,395 406 426 644 556 806 Other liabilities and accril ed dividends 872 38 268 42 60 65 46 126 10 1? ins TOTAL LIABILITIES 103,432 4,870 26,098 5,612 7,574 7,944 6,118 16,438 4,017 2,433 4,456 4,730 13,142 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 206 8 51 11 15 14 14 34 7 4 8 10 30 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 105,246 4,945 26,564 5,701 7,734 8,045 6,246 16,724 4,079 2,474 __4 531_ 4,828 13,375 i Contingent liability on ace. eptances purchased for forei. gn correspondents 383 16 2/ 100 19 35 20 27 60 13 9 16 20 48 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 15,669 3,787 4,884 5,478 3,310 10,241 2,505 1,130 2,488 2,422 7,384 Collateral for F. R. notes: Gold certificate account 250 350 435 — 700 155 — — 5 -- U. S. Government securities 15,850 3,600 4,700 5,115 3,500 9,900 2,430 1,140 2,600 2,480 7,600 Total collateral 3,290 15,850 3,850 57*050 5,550 3,500 10,600 2,585 1,140 2,600 2,485 7,600 V After deducting $241 million participations of other Federal Reserve Banks. 2/ After deducting $283 million participations of other Federal Reserve Banks. * Estimated (San Francisco District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis