H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and ^ykv&y Condition Statement of F.R. Banks H.4.1 For immediate release June 21, 1973 The average of daily figures for total reserves of member banks increased $704 million in the latest statement week to $32,284 million. Required reserves, excess reserves and member bank borrowing at Federal Reserve Banks all increased. Increases in both Treasury deposits and other deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. Partially offsetting these reserve drains was an increase in float. In addition, System Open Market operations provided $968 million reserves net, on a weekly average basis, both through outright purchases of Treasury bills and repurchase agreements. Averages c) f daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 20, * June 13, June 21, June 20,* and related items 1973 1973 1972 1973 Reserve Bank credit: (Irl mi. llions of dollars) U.S. Government securities-- Bought outright—System account 73,323 + 604 +3,116 1/ 74,057 Held under repurchase agreements 291 + 291 + 291 865 Federal Agency obligations— Bought outright 1,220 _ 14 + 102 1,220 Held under repurchase agreements 64 + 64 + 64 111 Acceptances— Bought outright 68 - 2 4 67 Held under repurchase agreements 25 + 25 + 25 56 Loans — Total member bank borrowing 1,928 + 231 +1,869 1,760 Includes seasonal borrowing of: 73 + 6 + 73 71 Other borrowing Float 2,506 + 185 -1,198 3,428 Other F.R. assets 934 + 47 7 947 Total Reserve Bank credit 80,358 +1 ,428 +4,257 82,511 Gold stock 10,410 -- -. 10,410 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 8,520 + 5 + 465 8,520 99,688 +1 ,433 +4,722 101,841 Currency in circulation 67,759 + 25 +5,801 67,816 Treasury cash holdings 385 - 3 + 30 385 Treasury deposits with F.R. Banks 1,653 + 252 - 782 2,063 Foreign deposits with F.R. Banks 246 - 7 + 96 274 Other deposits with F.R. Banks 768 + 105 + 193 659 Other F.R. liabilities and capital 2,659 + 18 + 406 2,696 73,470 + 390 +5,744 73,893 Member bank reserves: With Federal Reserve Banks 26,219 +1 ,044 -1,021 27,948 Currency and coin 5,893 - 340 + 537 5,893 Total reserves held 2/ 32,284 + 704 - 312 34,013 Required reserves 32,130 + 533 - 254 32,130 Excess reserves 2/ 1,883 NOTE: A net of $58 million of surplus reserves were eligible to be carried forward from the week ended June 13, into the week ending June 20. On June 20, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,013 million, a decrease of $1 million for the week. 1/ Includes $70 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 27 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 (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 June 20,** June 13, June 21, 1973 1973 1972 A S S E TS Gold certificate account 10,303 — — Special Drawing Rights certif. accts. * 400 — — Cash 917) 299 - 2 17 Loans 1,760 + 71 +1,579 Acceptances—Bought outright 67 + 2 + 1 Held under repurchase agreements 56 + 56 + 56 Federal Agency obligations—Bought outright 1,220 — + 102 Held under repurchase agreements 111 + 111 + 111 U. S. Government securities: Bought outright—Bills 33,510 +2 ,636 +3,228 Certificates Notes 36,936 __ + 488 Bonds 3,611 — + 161 Total bought outright 1/ 74,057 +2, 636 +3,877 Held under repurchase agreements 865 + 865 + 865 Total U.S. Government securities 74,922 +3 ,501 +4,742 Total loans and securities 78,136 +3 ,741 +6,591 Cash items in process of collection 919) 9,813 + 839 -2,857 Bank premises 202 — + 39 Other assets 2j 745 - 1 - 104 TOTAL ASSETS (2,836) 99,898 +4,577 +3,652 Federal Reserve notes ( 917) 59,873 - 171 +5 ,339 Deposits: Member bank—reserves account 27,868 +3 ,776 + 860 U. S. Treasurer—general account 2,063 + 541 - 891 Foreign 274 + 13 + 88 Other ( 2) 659 + 35 + 105 Total deposits ( 2) 30,864 +4 ,365 + 162 Deferred availability cash items (1 ,917) 6,465 + 287 -2 ,255 Other liabilities and accrued dividends 830 + 13 + 268 TOTAL LIABILITIES (2, 836) 98,032 +4 ,494 +3 ,514 C A P I T AL A C C O U N TS Capital paid in 819 3 + 47 Surplus 793 -- + 51 Other capital accounts 254 - 80 + 40 Contingent liability on acceptances purchased for foreign correspondents 400 +4 + 148 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $70 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, JUNE 20, 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 1,712 70 5,878 +3 ,746 111 +111 16 days to 90 days 48 53 17,471 - 286 56 91 days to 1 year -- 13,869 + 41 240 Over 1 year to 5 years — 26,832 — 486 Over 5 years to 10 years — 9,321 + 78 261 Over 10 years -- 1,551 78 177 Total 1,760 123 74,922 +3,501 1,331 +111 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.Ub) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 20, 1973 New Phila Cleve Rich St. Minne Kansas San * ! Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 10,303 414 1,844 487 987 906 486 1,872 356 96 145 633 2,077 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 917 89 213 26 38 86 161 55 23 18 32 43 133 Other cash 299 15 22 5 33 36 40 33 22 5 40 14 34 Loans 1,760 229 352 54 64 202 203 211 19 22 139 56 209 Acceptances: Bought outright 67 -- 67 — — — — — -- — -- -- -- Held under repurchase agreements 56 — 56 — — -- — -- — — — -- — Federal Agency obligations-- 1,220 56 323 66 92 89 65 194 45 26 49 53 162 Bought outright Held under repurchase agreements 111 — 111 — — — -- — — — — — -- U.S. Government securities: Bought outright-- Bills 33,510 1,534 8,879 1,800 2 ,521 2,438 1,787 5,336 1,239 725 1,334 1,454 4,463 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/ 74,057 3,390 19,623 3,979 5",5 71 5,388 3,948 11,792 2,740 __ ,601 2,948 3,214 9,863 Held under repurchase agreements 865 -- 865 — -- — -. — — — — — -- Total U.S. Government securities 74,922 3,390 20,488 3,979 TL IZL.- 5,388 3,948 ""11,792"' "~ 2>74(T "~2,948 ""37214""_ _ _ __ Total loans and securities " 78,136 3,675 21,397 4,099 5 ,727 5,679 4,216 12,197 2,804 1 ,649 3,136 3,323 10,234 Cash items in process of collection 11,732 543 1,804 841 538 1,166 1,267 1,736 475 498 790 706 1,368 Bank premises 202 33 7 5 27 14 15 17 14 33 17 12 8 Other assets 2/ 745J 36 196 47 55 57 42 109 26 21 27 _ -U 98 __ TOTAL ASSETS 102,734 4,828 25,576 5,533 7 438 7,980 6,249 16,089 3,735 2 ,327 4,202 4,776 14,001 17 Includes $70 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 JUNE 20, 1973 New Phila Cleve Rich St. Minne Kansas San * 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 60.79C 3,122 15,079 3,792 4,811 5,378 3,143 10,109 2,395 1,111 2,400 2,333 7,117 Deposits: Member bank reserves 27,868 955 7,363 1,060 1,812 1,387 1,828 4,031 704 644 999 1,719 5,366 U. S. Treasurer—general account 2,063^ 146 484 117 125 182 141 225 189 62 53 72 267 Foreign 274! 11 1/ 79 13 24 14 18 42 9 6 11 14 33 Other 661 1 582 20 — 11 9 6 2 2 3 22 Total deposits 30,866 1,113 8,508 1,210 1,961 1,594 1,996 4,304 904 714 1,066 1,808 5,688 Deferred availability cash items 8,382 478 1,258 398 443 843 934 1,260 345 440 630 503 850 Other liabilities and accrued dividends 83C 38 251 40 59 58 45 121 28 20 29 33 108 TOTAL LIABILITIES 100,868 4,751 25,096 5,440 7,274 7,873 6,118 15,794 3,672 2,285 4,125 4,677 13,763 CAPITAL ACCOUNTS Capital paid in 819 33 208 41 73 45 60 129 28 19 34 45 104 Surplus 793: 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 254 10 65 13 19 20 16 42 8 5 10 11 35 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 102,734 4,828 25,576 5,533 7,438 7,980 6,249 16,089 3,735 2,327 4,202 4,776 14,001 Contingent liability on ace. eptances purchased for foreign correspondents 400 17 2/104 20 36 21 28 63 14 9 17 21 50 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 63,409 3,256 15,871 3,858 4,969 5,570 3,358 10,346 2,536 1,143 2,533 2,476 7,493 Collateral for F. R. notes: Gold certificate account 2,155 180 250 350 515 700 155 5 U. S. Government securities 62,405 3,110 16,050 3,700 4,700 5,115 3,500 9,900 2,430 1,170 2,600 2,530 7,600 Total collateral 64,560 3,290 16., 050 3,950 5,050 5,630 3,500 10,600 2,585 1,170 2,600 2,535 7,600 \J After deducting $195 million participations of other Federal Reserve Banks. Estimated (San Francisco District), 2/ After deducting $296 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis