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 31, 1973 The average of daily figures for total reserves of member banks declined $77 million in the latest statement week to $32,237 million. Required reserves declined while excess reserves and member bank borrowings at Federal Reserve Banks increased. A decline in Treasury deposits with Federal Reserve Banks was the major factor providing reserves in the latest statement week. Partially offsetting this reserve gain was a decline in float and an increase in currency in circulation. In addition, System Open Market operations absorbed $1,356 million reserves net, on a weekly average basis, through outright sales of Treasury bills and matched sales-purchase agreements. Averages of dally figures Member bank reserves, Week-ended Change from week ended Wednesday, Reserve Bank credit, May 30, May 23, May 31, May 30, and related items 1971 1973 197? 1973 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 74,989 232 44,601 J72/73,947 Held under repurchase agreements 971 - 159 Federal Agency obligations-- Bought outright 1,242 14 + 263 1,240 Held under repurchase agreements 86 4 Acceptances — Bought outright 88 2 + 9 84 Held under repurchase agreements 51 9 Loans-- Total member bank borrowing 2,400 + 712 +2,146 1, 771 Includes seasonal borrowing of: 46 + 14 + 46 50 Other borrowing Float 1,839 - 334 -1,112 2 ,214 Other F.R. assets 793 + 32 14 820 z Total Reserve Bank credit 81,351 - 945 +5,721 80, 076 Gold stock 10,410 10, 410 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 8,494 483 8 ,498 100,655 938 +6 ,204 99, 384 Currency in circulation 66,890 122 +5 ,532 67, 272 Treasury cash holdings 402 7 + 27 411 Treasury deposits with F.R. Banks 3,564 533 +1 ,386 3 ,932 Foreign deposits with F.R. Banks 321 22 - 2 290 Other deposits with F.R. Banks 666 + 12 + 78 669 Other F.R. liabilities and capital 2,787 + 70 + 458 2 ,783 74,630 359 +7, 478 75 ,357 Member bank reserves: With Federal Reserve Banks 26,025 579 -1, 274 24,, 027 Currency and coin 502 + 525 040 6J Total reserves held 3/ 32,237 - 77 - 577 30, 239 Required reserves ~" 32,057 - 117 - 669 32,0 57 Excess reserves 3/ 180 + 40 + 92 -1, 818 NOTE: A net of $115 million of surplus reserves were eligible to be carried forward from the week ended May 23, into the week ending May 30. On May 30, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,011 million, a decrease of $477 million for the week. 1/ Excludes $1,105 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $53 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. 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 May 30, ** May 23, May 31, 1973 1973 1972 A S S E TS Gold certificate account 10,303 Special Drawing Rights certif. accts. 400 -- -- Cash 888) 313 -- 5 Loans 1,771 J- 316 J- 177 Acceptances--Bought outright 84 6 f 6 Held under repurchase agreements -- 78 65 Federal Agency obligations—Bought outright 1,240 16 + 261 Held under repurchase agreements -- - 182 25 U. S. Government securities: Bought outright —Bills 33,400 •1,303 -'2,896 Certificates Notes 36,936 4- 488 Bonds 3,611 + n Total bought outright ±/27 73,947 -1,303 +3,455 Held under repurchase agreements -1,252 -1,115 Total U.S. Government securities 73,947 -2,555 +2,340 Total loans and securities 77,042 -2,521 +2,694 Cash items in process of collection (1 ,492) 8,944 + 928 -2,149 Bank premises 201 1 !- 38 Other assets 2/ 619 + 34 63 TOTAL ASSETS (2, 380) 97,822 -1,560 515 L I A B I L I T I ES Federal Reserve notes ( 888) 59,391 + 386 +5,142 Deposits: Member bank—reserves account 23,947 -3,289 -5,591 U. S. Treasurer—general account 3,932 52 +1,788 Foreign 290 -- + 133 Other V 669 + 56 -!- 85 Total deposits 28,838 -3, 285 -3 ,585 Deferred availability cash items (1 ,492) 6,810 +1 308 -1 ,437 Other liabilities and accrued dividends 801 - 53 + 221 TOTAL LIABILITIES (2, 380) 95,840 -1,644 341 C A P I TA L A C C O U N TS Capital paid in 815 J- 47 Surplus 793 + 51 Other capital accounts 374 f 76 Contingent liability on acceptances purchased for foreign correspondents 378 f 117 * Figures in parentheses are the eliminations made in the consolidating process, \j Excludes $1,105 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $53 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. ** Estimated (Cleveland District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 30, 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 1,671 35 4,266 -2,530 20 -178 16 days to 90 days 100 49 18,082 1- 524 26 - 2 91 days to 1 year 13,895 - 549 219 - 10 Over 1 year to 5 years 26,832 -- 537 - 8 Over 5 years to 10 years 9,2-4.3 -- 247 -- Over 10 years 1,629 — 191 -- Total TTTTi 84 73,947 -2,555 1,240 -198 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.Hb) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 30, 19 73 New Phila Cleve Rich St, Minne Kansas San Total Boston York delphia land * mond Atlanta Chicago Louis apolis City Da lias Francisco (1. n millions of dollars) A S S E TS Gold certificate account 10,303 486 2,839 432 634 942 366 1,532 276 244 326 360 1,866 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 888 99 207 38 42 77 173 49 20 14 20 44 105 Other cash 313 16 21 4 35 36 41 36 23 5 51 12 33 Loans 1,771 146 216 142 157 154 203 138 44 15 163 206 187 Acceptances: Bought outright 84 -- 84 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements -- -- -- — -- -- -- -- -_ -- -- -- -- Federal Agency obligations-- Bought outright i 1,240 58 319 68 92 87 68 200 48 27 50 56 167 Held under repurchase agreements -" -- .- — -- -- -- -- -- -- -- -- — U.S. Government securities: Bought outright-- Bills 33,400 1,566 8,590 1,828 2,468 2,339 1,836 5,378 1,293 735 1,358 1 513 4,496 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 1/2/ 73,947 3,467 19,018 4,048 5,465 5,179 4,063 11,906 2,863 1,627 3,007 ~ 3 50 9,9 54 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Total U.S. Government securities 73,947 3,467 19,018 4,048 5,465 5,179 4,063 11,906 2,863 1,627 3,007 ~T ,3 50 9,954 " Total loans and securities 77,042 3,671 19,637 4,258 5,714 5,420 4,334 12,244 2,955 1,669 3,220 3 612 10,308 Cash items in process of collection 1 10,436 451 1,677 787 542 1,141 1,176 1,450 391 441 659 581 1,140 Bank premises 201 33 7 5 14 15 16 14 33 17 12 8 Other assets ]_/ 619 31 155 42 44 43 39 90 21 17 23 26 88 TOTAL ASSETS 100,202 4,810 24,636 5,589 7,071 7,709 6,166 15,487 3,715 2,430 4,331 4 661 13,597 1/ Excludes $1,105 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $53 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3_/ 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 MAY 30, 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 dollars0 L I A B I L I T I ES Federal Reserve notes 60,279 3,102 15,040 3,754 4,758 5,336 3,081 10,016 2,367 1,096 2,385 2,295 7,049 Deposits: Member bank reserves 23,94/ 918 5,708 900 1,247 1,009 1,672 3,641 729 684 1,005 1,438 4,996 U. S. Treasurer—general account 3,932 279 1,042 344 295 378 279 140 186 167 234 276 312 Foreign 290 11 1/ 93 13 24 14 19 42 9 6 11 15 33 Other 669 1 594 16 1 10 8 5 2 2 3 2 25 Total deposits 28,838 1,209 7,437 1,273 1,567 1,411 1,978 3,828 926 859 1,253 1,731 5,366 Deferred availability cash items 8,302 378 1,430 422 515 795 921 1,206 325 410 581 496 823 Other liabilities and accrued dividends 801 38 218 42 58 54 50 124 29 20 31 34 103 TOTAL LIABILITIES 98,220 4,727 24,125 5,491 6,898 7,596 6,030 15,174 3,647 2,385 4,250 4,556 13,341 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 374 16 96 20 28 26 22 61 13 8 14 17 53 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 100,202]_ 4 810._ 24,636 5,589 7.071 7,709 6,166 15,487 3,715 2,430 4,331 4,661 13,597 J Contingent liability on ace. eptances purchased for forei- gn correspondents 378 16 2/ 99 19 34 20 26 _ M_ LL_ 2 _ l fi . . 20 . 47 _ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 15,694 3,811 4,930 5,489 3,325 10,254 2,499 1,128 2,489 2,451 7,371 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 1,150 2^600 2,480 7,600 Total collateral 3,290 15,850 3,850 5,050 5,550 3,500 10,600 2,585 1,150 2,600 2,485 7,600 \J After deducting $197 million participations of other Federal Reserve Banks, Estimated (Cleveland District). 27 After deducting $279 million participations of other Federal Reserve Banks• Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis