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 June 14, 1973 The average of daily figures for total reserves of member banks declined $596 million in the latest statement week to $31,580 million. Required reserves and excess reserves declined while member bank borrowings at Federal Reserve Banks increased. Major factors supplying reserves in the latest statement week were declines in both Treasury deposits with Federal Reserve Banks and other Federal Reserve liabili ties and capital. Reserves were absorbed by an increase in currency in circulation. In addition, System Open Market operations absorbed $2,156 million reserves net, on a weekly average basis, primarily through matched sale-purchase transactions. Averages of daily if igures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 13, * June 6, June 14, June 13, * and related items 1973 1973 1972 1973 Reserve Bank credit: (Ir1 millions of dollars) U.S. Government securities-- Bought outright--System account 72,719 -1,369 +2,109 1/2/71,421 Held under repurchase agreements — - 565 — — Federal Agency obligations-- Bought outright 1,234 6 + 116 1,220 Held under repurchase agreements -- - 156 — -- Acceptances — Bought outright 70 10 9 65 Held under repurchase agreements -- 50 — — Loans-- Total member bank borrowing 1,697 + 33 +1,603 1,689 Includes seasonal borrowing of: 67 + 3 + 67 67 Other borrowing Float 2,326 + 20 - 624 2,906 Other F.R. assets 883 + 30 13 916 Total Reserve Bank credit 78,929 -2,073 +3,182 78,217 Gold stock 10,410 — — 10,410 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 8,515 + 15 + 483 8,515 98,254 -2,058 +3,665 97,542 Currency in circulation 67,731 + 511 +5,787 67,951 Treasury cash holdings 388 10 + 34 396 Treasury deposits with F.R. Banks 1,401 -1,625 -1,201 1,522 Foreign deposits with F.R. Banks 253 11 + 115 261 Other deposits with F.R. Banks 662 + 6 + 74 621 Other F.R. liabilities and capital 2,644 - 238 + 441 2,619 73,079 -1,368 +5,250 73,370 Member bank reserves: With Federal Reserve Banks 25,175 - 690 -1,585 24,172 Currency and coin 6,233 + 94 + 576 6,233 Total reserves held 3/ 31,580 - 596 - 837 30,577 Required reserves 31,597 - 229 - 711 31,597 Excess reserves 3/ -1,020 NOTE: A net of $233 million of surplus reserves were eligible to be carried forward from the week ended June 6, into the week ending June 13. On June 13, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,014 million, a decrease of $143 million for the week. 1/ Excludes $2,345 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $85 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. k Estimated (Cleveland, 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 June 13, June 6, June 14, 1973 1973 1?72 A S S E TS Gold certificate account 10,303 Special Drawing Rights certif. accts. * 400 Cash ( 828) 297 2 18 Loans 1,689 805 +1,623 Acceptances—Bought outright 65 8 8 Held under repurchase agreements 88 -- Federal Agency obligations—Bought outright 1,220 20 + 102 Held under repurchase agreements 133 -- U. S. Government securities: Bought outright — Bills 30,874 -2,535 + 252 Certificates Notes 36,936 — + 488 Bonds 3,611 -- + 71 Total bought outright 1/ 2/ 71,421 -2,535 + 811 Held under repurchase agreements — - 628 -- Total U.S. Government securities 71,421 -3_J63 + 811 Total loans and securities 74,395 -2,607 +2,528 Cash items in process of collection (1,757) 8,837 - 309 -3,683 Bank premises 202 + 1 + 39 Other assets J3/ 714 + 45 63 TOTAL ASSETS (2,585) 95,148 -2,872 -1,197 kL ±*Ih.II IJLfL 'Federal Reserve notes ( 828) 60,022 + 281 +5,371 Deposits: Member bank—reserves account 24,092 -3,179 -3,519 U. S. Treasurer—general account 1,522 + 198 - 599 Foreign 261 + 8 + 135 Other 621 21 + 88 Total deposits 26,496 -2,994 -3,895 Deferred availability cash items (1,757) 6,011 + 118 -3,069 Other liabilities and accrued dividends 839 + 9 + 280 TOTAL LIABILITIES (2,585) 93,368 -2,586 -1,313 C A P I T AL A C C O U N TS Capital paid in 816 .. + 46 Surplus 793 -- + 51 Other capital accounts 171 • 286 + 19 Contingent liability on acceptances purchased for foreign correspondents 396 + 1 + 144 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $2,345 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. y Includes $85 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (Cleveland, Dallas and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 13, 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 •ances securities obligations Loans Holdings Weekly Holdings Weekly changes Changes Within 15 days 1,644 14 2,132 -2,825 — -153 16 days to 90 days 45 51 17,757 - 190 56 + 25 91 days to 1 year — — 13,828 - 148 240 + 26 Over 1 year to 5 years — -- 26,832 -- 486 - 51 Over 5 years to 10 years — — 9,243 — 261 + 14 Over 10 years — — 1*629 — 177 - 14 Total 1,689 65 71,421 -3,163 1,220 •153 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 JUNE 13, 1973 New Phila Cleve Rich St. Minne Kansas * San * Total Boston Atlanta Chicago Da York delphia land * mond Louis apolis City lias Francisco (In millions of dollars) A S S E TS Gold certificate account 10,303 382 2,167 484 712 748 367 2,273 408 51 313 417 1,981 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 828 83 203 25 37 75 144 65 18 15 27 30 106 Other cash 297 15 22 5 34 36 39 33 21 5 40 14 33 Loans 1,689 111 434 118 101 193 189 125 28 54 107 66 163 Acceptances: Bought outright 65 -- 65 -- -- -- -- -- -- -_ -- -. -- Held under repurchase agreements -- -- __ -_ -- -- -- — -- -- -- _. -- Federal Agency obligations-- Bought outright 1,220 56 323 66 92 89 65 194 45 26 49 53 162 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 30,874 1,413 8,181 1,659 2 ,323 2,246 1,646 4,916 1,142 668 1,229 1 ,339 4,112 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 1/2/ 71,421 3,269 18,925 3,838 T ,373 5,196 3,807 lf,372 2,643 1,544 2,843 —j ;099 9,512 Held under repurchase agreements ..- -- -- -- -- -- -- -- -- -_ _- -- -. _ Total U.S. Government securities "71,421 3,269 18,925 3,838 ,373 5,196 3,807 11,372 2,643 1,544 2,843 __ ,099 _ _ _ __ Total loans and securities 74,395 3,436 19,747 " 4,022 ~5 ,566 '5,478 ~4,0*61 "*' 117691 '2,716 '1,624 2,999 _ 3 ~218 T,837 Cash items in process of collection 10,594 425 1,487 713 502 1,319 1,268 1,466 449 461 718 569 1,217 Bank premises 202 33 7 5 27 14 15 17 14 33 17 12 8 Other assets 3/ 714 32 185 49 50 52 47 107 23 19 28 32 90 TOTAL ASSETS 97,733 4,429 23,911 5,326 6 ,961 7,758 5,963 15,722 3,664 2,215 4,157 4 ,306 13,321 1/ Excludes $2,345 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2*/ Includes $85 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Estimated (Cleveland, 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 JUNE 13, 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 60,850 3,123 15,083 3,794 4,820 5,375 3,150 10,125 2,399 1,112 2,405 2,339 7,125 Deposits: Member bank reserves 24,092 1 702 6,172 924 1,368 1,126 1,606 3,892 716 581 944 1,365 4,696 U. S. Treasurer—general account 1,522 105 253 91 102 218 100 96 96 44 92 86 239 Foreign 261 11 1/ 76 12 23 13 18 39 8 6 11 13 31 Other 621 1 542 19 — 11 9 9 2 1 5 3 19 Total deposits 26,496 819 7,043 1,046 1,493 1,368 1,733 4,036 822 632 1,052 1.467 4,985 Deferred availability cash items 7,768 377 1,099 357 429 858 901 1,159 354 408 596 371 859 Other liabilities and accrued dividends 839 37 228 42 62 57 53 121 28 22 30 34 125 TOTAL LIABILITIES 95,953 4,356 23,453 5,239 6,804 7,658 5,837 15,441 3,603 2,174 4,083 4,211 13,094 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 171 6 43 9 12 13 12 28 6 4 7 7 24 TOTAL LIABILITIES AND CAPITAL ACCOUNTS JL7.J33J 4,429 23,911 5,326 6,961 1,7 58 5,963 15,722 3,ji64^ 2,215 4.157 4.306 13.321 Contingent liability on acee ptances purchased for forei. gn correspondents 396 17 2/ 103 19 36 21 28 62 13 9 17 21 50 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 63,079 3,253 15,764 3,867 4,928 5,531 3,341 10,290 2,511 1,136 2,519 2,479 7,460 Collateral for F. R. notes: Gold certificate account 2,115 180 250 350 475 700 155 5 U. S. Government securities 62,395 3,110 16,050 3,700 4,700 5,115 3,500 9.900 2,430 1,160 2,600 2.530 7.600 Total collateral 64,510 3,290 16,050 3,950 5,050 5,590 3,500 10,600 2,585 1,160 2,600 2,535 7,600 1/ After deducting $185 milli on participations of other Federal Reserve Banks. 2/ After deducti ng $ 293 million participations of other Federal Reserve Banks, * Estimated (Cleveland, Dallas, and San Francisco Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis