H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE : *$Pii£: •#!-:- Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 24, 1973 The average of daily figures for total reserves of member banks declined $619 million in the latest statement week to $32,314 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined. Declines in float and other Federal Reserve assets were the major factors absorbing reserves in the latest statement week. Partially offsetting these reserve drains was a decline in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations provided $482 million reserves net, on a weekly average basis through outright purchases of Treasury bills and repurchase agreements. Averages of daily figures Member Dank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 23, May 16, May 24, May 23, * and related items 1973 1973 1972 1973 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 75,221 +181 +4,897 |I/ 75,250 Held under repurchase agreements 971 +355 + 971 1,252 Federal Agency obligations— Bought outright 1,256 + 277 1,256 Held under repurchase agreements 86 - 22 + 86 182 Acceptances- Bought outright 90 - 2 + 9 90 Held under repurchase agreements 51 - 30 + 51 78 Loans-- Total member bank borrowing 1,688 -128 +1,625 1,455 Includes seasonal borrowing of: 32 + 9 + 32 32 Other borrowing Float 2,175 -208 -1,180 2,609 Other F.R. assets 757 -302 + 5 767 Total Reserve Bank credit 82,295 -156 +6,741 82,939 Gold stock 10,410 10,410 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 8, ^87 + 19 + 479 8,493 101,592 -138 +7,220 102,242 Currency in circulation 66,768 - 83 +5,560 66,872 Treasury cash holdings 409 - 8 + 29 419 Treasury deposits with F.R. Banks 4,097 -296 +1,832 3,984 Foreign deposits with F.R. Banks 343 + 29 + 194 290 Other deposits with F.R. Banks 654 + 17 + 97 611 Other F.R. liabilities and capital 2,717 + 95 + 446 2,749 74,988 -247 +8,158 74,925 Member bank reserves: With Federal Reserve Banks 26,604 +109 - 938 27,316 Currency and coin 5.538 -728 + 434 5.53$ Total reserves held 2/ 32,314 -619 - 332 33,026 Required reserves 32,174 -433 - 386 32,174 Excess reserves 2/ 140 -186 + 54 852 NOTE: A net of $133 million of surplus reserves were eligible to be carried forward from the week ended May 16, into the week ending May 23. On May 23, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,488 million, a decrease of $39 million for the week. 1/ Includes $108 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. lj 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 (Dallas 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 BANKS (In millions of dollars) Wednesday Change since May 23',** May 16, May 24, 1973 1973 1972 A S S E TS Gold certificate account 10,303 -- __ Special Drawing Rights certif. accts. 400 -- -- Cash ( 958) 313 . 3 - 17 Loans 1,455 - 990 +1, 138 Acceptances--Bought outright 90 -- + 14 Held under repurchase agreements 73 22 + 78 Federal Agency obligations—Bought outright 1,256 -- + 277 Held under repurchase agreements 182 ,- 25 + 182 U. S. Government securities: Bought outright--Bills 34,703 + 210 +4, 367 Certificates Notes 36,936 + 488 Bonds 3,611 + 71 Total bought outright JL/ 75,250 + 210 44,926 Held under repurchase agreements 1,252 + 42 +1,252 Total U.S. Government securities 76,502 + 252 +6,178 Total loans and securities 79,563 - 735 +7,867 Cash items in process of collection (1,835) 8,298 -2,232 -2,444 Bank premises 202 -- + 39 Other assets 2/ 565 + 28 78 TOTAL ASSETS (2,793) 99,644 -2,942 +5,367 t i AB IL I T IE S Federal Reserve notes 958) 59,005 - 151 +5,097 Deposits: Member bank--reserves account 27,236 - 395 + 6 U. S. Treasurer—general account 3,984 - 941 +1,582 Foreign 290 - 43 + 142 Other 611 - 33 — Total deposits 32,121 -1,412 +1,730 Deferred availability cash items 835) 5,769 -1,420 -1,908 Other liabilities and accrued dividends 853 41 + 298 TOTAL LIABILITIES 793) 97,74"3 -3,024 +5,217 £ A Z I Z A L A £ £ 0 U N T S_ Capital paid in 815 .. + 46 Surplus 793 -- + 51 Other capital accounts 288 f 82 + 53 Contingent liability on acceptances purchased for foreign correspondents 377 + 108 * Figures in parentheses are the eliminations made in the consolidating process. -* Estimated (Dallas and San Francisco Districts). JL/ Includes $108 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 23. 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 1,427 109 6,796 - 56 198 + 25 16 days to 90 days 28 59 17,558 + 826 28 91 days to 1 year -- 14,444 - 518 229 Over 1 year to 5 years -- 26,832 -- 545 Over 5 years to 10 years -- 9,243 -- 247 Over 10 years — — 1,629 — 191 Total 1,455 168 76,502 + 252 1,438 + 25 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 23, 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 10,303 704 1,996 519 873 1,106 165 1,771 269 218 332 351 1,999 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 958 105 234 25 44 79 171 50 26 13 33 49 129 Other cash 313 16 23 5 36 37 42 37 23 6 41 12 35 Loans 1,455 97 244 169 218 82 180 177 85 25 109 47 22 Acceptances: Bought outright 90 -- 90 -. — -- -- -- -- -- -- -- -- Held under repurchase agreements 78 -- 78 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 1,256 59 323 69 93 88 69 202 49 27 51 57 169 Held under repurchase agreements 182 -- 182 — -- -- -- -- -- -- -- -- _- U.S. Government securities: Bought outright-- Bills 34,703 l,o27 8,925 1,899 2,565 2,431 1,907 5,588 1,34 3 764 1,411 1 ,572 4,671 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 3.611 169 929 198 267 353 , 19? 531... 140L_ 79 147 164 486 Total bought outiight 1/ 75,250 3,528 19,353 4,119 5,562 5,271 4,134 12,116 2,913 1,656 3,060 3 ,409 10,1?9 Held under repurchase agreements 1.252 -- 1.252 -- -- -- -- — -- -- -- -- -lotal U.S. Government becurities 76.502 3.528 20 r 605 4.119 5.562 5 P 271 4.134 _l2,Uy 2,913 1.656 3.060 ~T r 409 10.129 Total loans and securities 79,563 3,684 21,522 4,357 5,873 5,441 4,383 12,495 3,047 1,708 3,220 3 ,513 10,320 Gash items in process of collection 10,133 359 1,335 656 492 1,082 1,190 1,387 433 390 684 724 1,401 Bank premises 202 33 "7 27 14 15 17 14 33 17 12 8 Other assets 2/ 565 n. 149 35 39 39 33 83 21 15 21 25 80 TOTAL ASSETS 102,437 4,949 25,359 5,625 7,417 7,834 6,021 15,910 3,848 2,390 4,363 4 ,700 14,021 1/ Includes $108 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. * Estimated (Dallas and San Francisco 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 MAY 23, 1973 New Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago 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 59,963 3,092 14,952 3,727 4,737 5,302 3,058 9,987 2,358 1,094 2,369 2,281 7,006 Deposits: Member bank reserves 27,236 1,112 6,802 1,079 1,717 1,325 1,784 3,992 820 649 1,125 1,490 5,341 U. S. Treasurer—general account 3,984 262 1,192 309 284 295 156 395 243 200 177 198 273 Foreign 290 11 1/ 91 13 25 14 19 42 9 6 11 15 34 Other 611 533 17 14 8 8 1 3 3 4 20 Total deposits 32,121 1,385 8,618 1^.418 2,026 1,648 1,967 4,437 1,073 858 1.316 1,707 5.668 Deferred availability cash items 7,604 355 1,043 345 428 722 815 1,060 322 374 568 576 996 Other liabilities and accrued dividends 853 38 257 42 59 55 49 126 30 21 32 36 108 TOTAL LIABILITIES 100,541 4,870 24,870 5,532 7,250 7,727 5,889 15,610 3,783 2,347 4,285 4,600 13,778 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 288 12 74 15 22 20 18 48 10 6 11 12 40 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 102.437 4.949 25.359 5.625 7.417 7.834 6.021 15.910 3.848 2.390 4.363 4,700 14,021 Contingent liability on accept ances purchased for foreign correspondents 377 16 11 98 19 34 20 26 59 13 i_ 16 20 47 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 62,577 3,249 15,687 3,805 4,898 5,478 3,307 10,225 2,505 1,126 2,495 2,414 7,388 Collateral for F. R. notes: Gold certificate account 2,075 180 250 350 435 700 155 5 U. S. Government securities 62.035 3.110 15.850 3.600 4.700 5.115 3.500 9.900 2.430 1,150 2.600 2,480 7.600 Total collateral 64,110 3,290 15,850 3,850 5,050 5,550 3,500 10,600 2,585 1,150 2,600 2,485 7,600 1/ After deducting $199 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. 3/ After deducting $279 million participations of other Federal Reserve Banks. * (Estimated (Dallas and San Francosco Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis