H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and ••f«£V Condition Statement of F.R. Banks H.4.1 For immediate release June 7, 1973 The average of daily figures for total reserves of member banks declined $120 million in the latest statement week to $32,117 million. Required reserves and member bank borrowings at Federal Reserve Banks declined while excess reserves increased. An increase in float and a decline in Treasury deposits with Federal Reserve Banks were the major factors supplying reserves in the latest statement week. Partially offsetting these reserve gains was an increase in currency in circulation. In addition, System Open Market operations absorbed $140 million reserves net, on a weekly average basis, primarily through outright sales and redemption of Treasury bills, Some repurchase agreements, however, were made in the statement week. Averages of: daily 1f igures Member Dank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 6, May 30, June 7, June 6, and related items 1973 1973 1972 1973 Reserve Bank credit: (Ir\ millions of dollars) U.S. Government securities-- Bought outright~-Systi€ m account 74,088 » 901 +3,486 1/ 73,956 Held under repurchase agreements 565 + 565 + 544 628 Federal Agency obligations-- Bought outright 1,240 _ 2 + 222 ! 1,240 Held under repurchase agreements 156 + 156 + 154 133 Acceptances — Bought outright 80 „ 8 + 2 73 Held under repurchase agreements 50 + 50 + 42 88 Loans-- Total member bank borrowing 1,664 «, 736 +1,606 884 Includes seasonal borrowing of: 64 + 18 + 64 62 Other borrowing Float 2,247 + 408 -1,050 3,203 Other F.R. assets 852 + 59 26 861 Total Reserve Bank credit 80,941 - 410 44,979 81,066 Gold stock 10,410 -- -- 10,410 Special Drawing Rights certif. acct. 400 -- — 400 Treasury currency outstanding 8,500 + 6 + 477 8,502 100,251 - 404 +5,456 100,378 Currency in circulation 67,218 + 328 +5,586 67,641 Treasury cash holdings 398 - 4 + 37 397 Treasury deposits with F.R., Banks 3,026 - 538 + 467 1,324 Foreign deposits with F.R. Banks 264 - 57 + 130 253 Other deposits with F.R. Banks 656 - 10 + 45 642 Other F.R. liabilities and capital 2,882 + 95 + 467 2,896 74,445 - 185 +6,733 73,153 Member bank reserves: With Federal Reserve Banks 25,806 _ 219 -1,277 27,225 Currency and coin 6,139 + 99 + 545 6,139 Total reserves held 2] 32,117 - 120 - 560 33,536 Required reserves 31,826 - 231 - 520 31,826 Excess reserves ^J 291 + 111 - 40 1,710 NOTE: A net of $135 million of surplus reserves were eligible to be carried forward from the week ended May 30, into the week ending June 6. On June 6, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,157 million, an increase of $146 million for the week. \j Includes $78 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 (Philadelphia 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 June 6, •M May 30, June 7, 1973 1973 1972 A S S E TS Gold certificate account 10,303 Special Drawing Rights certif. accts. * 400 Cash 844) 299 14 16 Loans 884 - 887 + 749 Acceptances--Bought outright 73 11 3 Held under repurchase agreements 88 + 88 + 34 Federal Agency obligation--Bought outright 1,240 + 122 Held under repurchase agreements 133 + 133 + 121 U. S. Government securities: Bought outright—Bills 33,409 9 +2,787 Certificates Notes 36,936 + 488 Bonds 3,611 + 71 Total bought outright 1/ 73,956 + 9 +3,346 Held under repurchase agreements 628 + 628 + 480 Total U.S. Government securities 74.584 + 637 +3,?26 Total loans and securities 77,002 - 40 +4,849 Cash items in process of collection (1,666) 8,987 + 43 -2,165 Bank premises 201 -- + 38 Other assets 2/ 660 + 41 70 TOTAL ASSETS (2,510) 97,852 + 30 +2^636 tlAlltlllis Federal Reserve notes ( 844) 59,728 + 337 +5,252 Deposits: Member bank--reserves account 27,145 +3, 198 10 U. S. Treasurer—general account 1,324 -2, 608 -1,032 Foreign 253 - 37 + 108 Other 642 - 27 + 27 Total deposits 29,364 + 526 - 907 Deferred availability cash items (1,666) 5,864 - 946 -2,163 Other liabilities and accrued dividends 830 + 29 + 260 TOTAL LIABILITIES (2,510) 95,786 - 54 +2,442 C A P I T AL A C C O U N TS Capital paid in 816 + 1 + 45 Surplus 793 -- + 51 Other capital accounts 457 + 83 + 98 Contingent liability on acceptances purchased for foreign correspondents 395 17 + 139 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $78 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. _2/ Includes assets denominated in foreign currencies. ** Estimated (Philadelphia District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 6 1973 r (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 828 112 4,957 +691 153 +133 16 days to 90 days 56 49 17,947 -135 31 + 5 91 days to 1 year — — 13,976 + 81 214 - 5 Over 1 year to 5 years — — 26,832 -- 537 — Over 5 years to 10 years — — 9,243 — 247 -- Over 10 years _7_^ __-- 1,629 — 191 — Total 884 161 74,584 +637 1,373 +133 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.10>) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 6, 1973 New Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Dallas York delphia land mond Louis apolis City Francisco O[ n milliori s of dollars) A S S E TS Gold certificate account 10,303 432 1,482 343 993 740 443 2,482 264 93 266 265 2,500 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 844 94 212 37 36 75 148 45 18 13 26 35 105 Other cash 299 16 21 4 34 37 40 34 22 5 40 13 33 Loans 884 106 142 38 71 34 125 132 26 9 136 36 29 Acceptances: Bought outright 73 -- 73 — -- -- -- _- «._ «... _ „ __ Held under repurchase agreements 88 -- 88 -- -- -- -_ --. „_ _„ —- B __ Federal Agency obligations-- Bought outright 1,240 57 329 67 93 90 66 197 46 27 49 54 165 Held under repurchase agreements 133 -- 133 — -- -- -- -. .. _„ _ — —— U.S. Government securities: Bought outright-- Bills 33,409 1,530 8,852 1,795 2,513 2,431 1,782 6,319 1,236 722 1,330 1 ,449 4,450 Certificates: Other — ... -- — -- -- -- -~ __ «... _„ __ _ _ Notes 36,936 1,691 9,787 1,985 2,779 2,687 1,969 5,881 1,367 798 1,470 1 ,603 4,919 Bonds 3,611 165 957 194 271 263 192 575 134 78 144 157 481 Total bought outright 1/ 73,956 3,386 19,596 3,974 5,563 5,381 3,943 11,775 2,737 r, 598 2,944 T, 209 9,850 Held under repurchase agreements 628 -- 628 — — -_ -- -- -- _- __ Total U.S. Government securities 74,584 3,386 20,224 3,974 5,563 5,381 3,943 11,775 2,737 T, 598 2,944 3 r2o<r"~ 9,850 ~ Total loans and securities 77,002 3,549 20,989 4,079 5.727 5,505 4,134 12,104 2,809 i , UJH- 3,129 3 ,299 10,044 X. Cash items in process of collection 10,653 444 1,801 728 496 1,136 1,147 1,454 437 527 733 619 1,131 Bank premises 201 33 7 5 27 14 15 16 14 33 17 12 8 Other assets 2/ ; 660 31 174 36 49 48 35 99 21 19 27 27 94 TOTAL ASSETS 100,362 4,622 24,779 5,255 7,395 7,591 5,984 16,304 3,600 2 ,331 4,253 4 284 13,964 1/ Includes $78 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. * Estimated (Philadelphia 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 JUNE 6, 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 60,572 3,112 15,059 3,761 4,780 5,351 3,133 10,066 2,384 1,106 2,398 2,328 7,094 Deposits: Member bank reserves 27,145 936 6,882 935 1,864 1,260 1,688 4,495 747 618 1,058 1,239 5,423 U. S. Treasurer—general account 1,324 70 252 85 85 49 126 129 37 106 94 91 200 Foreign 253 10 1/ 69 12 23 13 18 39 8 6 10 14 31 Other 642 1 559 14 -- 13 9 10 2 2 4 3 25 Total deposits 29,364 1,017 7,762 1,046 1,972 1,335 1,841 4,673 794 732 1,166 1,347 5,679 Deferred availability cash items 7,530 370 1,177 304 405 728 825 1,113 322 427 573 467 819 Other liabilities and accrued dividends 830 37 247 42 59 58 44 125 28 20 31 34 105 TOTAL LIABILITIES 98,296 4,536 24,245 5,153 7,216 7,472 5,843 15,977 3,528 2,285 4,168 4,176 13,697 CAPITAL ACCOUNTS Capital paid in 816 33 208 39 73 45 59 129 28 19 34 45 104 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 457 19 119 24 34 32 27 74 17 9 18 20 64 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 100,362 4,622 24,779 5,255 7,395 7,591 5.984 16,304 3,600^ 2,331 4.253 4.284 13,964 Contingent liability on ace. eptances purchased for foreign correspondents 395 17 2/ 103 19 36 21 28 62 13 9_ 17 21 49 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 15,740 3,834 4,912 5,488 3,315 10,262 2,502 1,136 2,507 2,460 7,424 Collateral for F. R. notes: Gold certificate account 250 350 435 700 155 5 U. S. Government securities 16,050 3,70Q 4,700 5,115 3,500 9,900 2,430 1,150 2,600 2,480 7,600 Total collateral 3,290 16,050 3,950 5,050 5,550 3,500 10,600 2,585 1,150 2,600 2,485 7,600 1/ After deducting $184 million participations of other Federal Reserve Banks, * Estimated (Philadelphia District), 2/ After deducting $292 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis