H.4.1 Factors Affecting Reserve Balances of Depository Institutions

&,;•. FEDERAL RESERVE Factors Affecting Bank Reserves and •?^W-- Condition Statement of F.R. Banks H.4.1 For immediate release July 19, 1973 The average of daily figures for total reserves of member banks increased $1,210 million in the latest statement week to $33,677 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. A decline in Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital were the major factors providing reserves in the latest statement week. In addition, System Open Market operations provided $250 million reserves, on a weekly average basis. Member bank borrowings averaged $1,723 million as compared to $1,680 million in the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, * Reserve Bank credit, July 18, July 11, July 19, July 18, and related items 1973 1973 1972 1973 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 75,372 + 171 +4,470 1/ 75,328 Held under repurchase agreements 339 + 92 + 10 377 Federal Agency obligations — Bought outright 1,449 .• + 363 1,449 Held under repurchase agreements 104 i + 68 207 Acceptances — Bought outright 57 6 - 11 51 Held under repurchase agreements 15 - 6 - 43 16 Loans— Total member bank borrowing 1,723 + 43 +1,550 1,679 Includes seasonal borrowing of: 117 — + 117 116 Other borrowing Float 3,811 + 132 85 4,421 Other F.R. assets 1,177 + 87 + 62 1,171 Total Reserve Bank credit 84,047 + "513 +6,384 84,699 Gpld stock 10,410 -- -- 10,410 Special Drawing Rights cert if. acct. 400 — — 400 Treasury currency out .standing 8,537 — + 455 8,537 103,394 + 513 +6,839 104,046 Currency in circulation 68,614 - 48 +5,785 68,642 Treasury cash holdings 344 - 22 + 14 343 Treasury deposits with F.R. Banks 3,224 - 754 + 836 3,005 Foreign deposits with F.R. Banks 281 - 3 + 82 257 Other deposits with F.R. Banks 817 + 88 + 196 782 Other F.R. liabilities and capital 2,728 - 244 + 464 2,720 76,007 - 984 +7,^78 75,749 Member bank reserves: With Federal Reserve Banks 27,388 +1, 497 - 538 28,297 Currency and coin 6,177 - 287 + 808 6,177 Total reserves held 2/ 33,677 +1, 210 + 382 34,586 Required reserves "" 33,272 + 744 + 124 33,272 Excess reserves 2/ 1,314 NOTE: A net of $17 million of surplus reserves were eligible to be carried forward from the week ended July 11, into the week ending July 18. On July 18, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,975 million, an increase of $295 million for the week. \J Includes $131 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2j Adjusted to include $112 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 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 July 18,** July 11, July 19, 1973 1973 1972 A S S E TS Gold certificate account 10,303 Special Drawing Rights certif. accts. 400 Cash ( 977) 298 + 4 16 Loans 1,679 - 623 +1,597 Acceptances--Bought outright 51 6 - 16 Held under repurchase agreements 16 + 16 - 27 Federal Agency obligations—Bought outright 1,449 + 363 Held under repurchase agreements 207 + 207 + 159 U. S. Government securities: Bought outright—Bills 34,526 +2,604 +3,671 Certificates Notes 37,138 + 542 Bonds 3,664 + 162 Total bought outright 1/ 75,328 +2,604 +4,375 Held under repurchase agreements "" 377 + 377 + 21 Total U.S. Government securities 75,705 +2,981 +4,396 Total loans and securities 79,107 +2,575 +6,472 Cash items in process of collection (1,780) 10,196 14 -2,826 Bank premises 207 -- + 43 Other assets 2/ 964 + 6 27 z TOTAL ASSETS' (2,757) 101,475 +2,571 +3,646 Federal Reserve notes ( 977) 60,639 - 258 +5 ,387 Deposits: Member bank--reserves account 28,217 +3,955 + 184 U. S. Treasurer--general account 3,005 -1,236 + 579 Foreign 257 12 + 21 Other 782 + 93 + 167 Total deposits 32~,261 +2,800 + 951 Deferred availability cash items (1,780) 5,855 71 -3 ,118 Other liabilities and accrued dividends 862 + 21 + 288 TOTAL LIABILITIES (2,757) 99,617 +2,492 +3 ,508 C A P I T AL A C C O U N TS Capital paid in 821 1 + 47 Surplus 793 -- + 51 Other capital accounts 244 f 80 + 40 Contingent liability on acceptances purchased for foreign correspondents 488 + 37 + 224 * Figures in parentheses are the eliminations made in the consolidating process. Includes $131 million securities loaned--fully secured by U.S. Government 1/ securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (Cleveland and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 18. 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 1,599 31 5,833 +3 ,525 215 +209 16 days to 90 days 80 36 17,355 - 549 48 - 2 91 days to 1 year -- -- 14,575 + 5 331 -- Over 1 year to 5 years — __ 2.6,982 -- 562 -- Over 5 years to 10 years -- __ 9,358 -- 284 -- Over 10 years — — 1,602 — 216 — Total 1,679 67 75,705 +2,981 1,656 +207 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 JULY 18, 1973 New Phila Cleve- Rich St. Minne Kansas San .J- 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 10,303 501 2,691 817 1,039 698 163 1,944 416 122 533 254 1,125 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 977 97 205 30 35 95 161 64 29 22 43 57 139 Other cash i 298 15 20 5 32 36 39 33 21 6 38 15 38 Loans 1,679 260 76 146 71 111 245 251 80 36 164 107 132 Acceptances: Bought outright 51 — 51 — — — ~ — — -- -- -- -- Held under repurchase agreements 16 16 Federal Agency obligations-- Bought outright 1,449 66 390 75 105 103 78 231 53 30 56 64 198 Held under repurchase agreements 207 207 U.S. Government securities: Bought outright-- Bills 34,526 1,575 9,286 1,798 2,495 2 ,465 1,848 5,509 1,275 715 1 ,330 1,519 4,711 Certificates: Other — -- -- -- -- -- -- -- -- -- -- -- -- Notes 37,138 1,694 9,987 1,934 2,684 2 ,651 1,988 5,927 1,372 770 1 ,430 1,633 5,068 Bonds 3,664 167 985 191 265 262 196 585 135 76 141 161 500 Total bought outright 1_/ 75,328 3,436 20,258 3,923 5,444 5 ,378 4,032 12,021 2,782 1,561 2 ,901 3,313 10,279 Held under repurchase agreements 377 — 222 Total U.S. Government securities 75,705 3,436 20,635 3,923 5,444 5 ,378 4,032 12,021 2,782 1,561 2 ,901 3,313 10,279 Total loans and securities 79,107 3,762 fa ,375 4,144 5,620 b ,592 4,355 12,503 2,915 1,627 3 ,121 3,484 10,609 "" Cash items in process of collection 11,976 412 2,434 598 493 ,344 1,309 1,679 507 565 844 731 1,060 Bank premises 207 35 7 7 27 14 15 17 14 34 17 12 8 Other assets 2/ 964 44 261 56 68 72 55 144 34 23 36 41 130 TOTAL ASSETS [104,232_ L 4J389 27,086 5,680 7,347 __7_, 887 6 P 119 16,454 _ 3.951 -2,406 _- A. r £ 4I - 4,608 -- 13,158 —- \_l Includes $131 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assests denominated in foreign currencies. * Estimated (Cleveland 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 JULY 18, 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 61,616 3,163 15,277 3,848 4,880 5,440 3,192 10,284 2,430 1,118 2,428 2,353 7,203 Deposits: Member bank reserves 28,217 902 8,857 1,014 1,551 1,185 1,696 4,271 873 630 1,037 1,292 4,909 U. S. Treasurer—general account 3,005 295 277 254 297 218 100 285 182 127 402 253 315 Foreign 257 11 1/ 63 13 24 14 18 41 9 6 11 14 33 Other 782 4 676 17 1 22 9 14 3 2 8 4 22 Total deposits 32,261 1,212 9,873 1,298 1,873 1,439 1,823 4,611 1,067 765 1,458 1,563 5,279 Deferred availability cash items 7,635 399 1,207 399 373 841 924 1,138 361 458 655 558 322 Other liabilities and accnl ed dividends 862 38 249 41 59 61 49 126 29 22 29 35 124 TOTAL LIABILITIES 102,374 4,812 26,606 5,586 7,185 7,781 5,988 16,159 3,887 2,363 4,570 4,509 12,928 CAPITAL ACCOUNTS Capital paid in 821 33 209 41 73 45 60 130 28 19 34 45 104 Surplus 793 72 42 55 124 43 TO £- # 1 Q QO Other capital accounts 244 10 64 14 17 19 16 41 9 JL <J 10 11 27 6 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 104,232 4,889 27,086 5,680 7,347 7,887 6,119 16 454_J L951 __ 2,406 4,647 4,608 13,158 J Contingent liability on ace: eptances purchased for fore:Lg n correspondent^ 488 21 2/127 24 44 25 34 77 17 11 21 26 61 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 64,291 3,305 16,022 3,913 5,052 5,636 3,433 10,504 2,568 1,175 2,541 2,529 7,613 Collateral for F. R. notes: Gold certificate account 2,195 180 250 350 555 700 155 5 U. S. Government securities 63,275 3.160 16.250 3.700 4.850 5.155 3.500 9.900 2.480 1.200 2.600 2.580 7.900 Total collateral 65,470 3,340 16,250 3,950 5,200 5,710 3,500 10,600 2,635 1,200 2,600 2,585 7,900 1/ After deducting $ 194 million participations of other Federal Reserve Banks. 2/ After deducting $ 361 million participations of other Federal Reserve Banks. * Estimated (Cleveland and San Francisco Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis