H.4.1 Factors Affecting Reserve Balances of Depository Institutions

O* L-0\'{ FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release July 26, 1973 The average of daily figures for total reserves of member banks increased $132 million in the latest statement week to $33,809 million. Required reserves and member bank borrowings at Federal Reserve Banks increased while excess reserves declined. A decline in currency in circulation was the major factor supplying reserves in the latest statement week. Offsetting this reserve gain were an increase in foreign deposits with Federal Reserve Banks and a decline in float. In addition, System Open Market operations absorbed $22 million reserves net, on a weekly average basis, through matched sale-purchase transactions and maturing repurchase agreements made in the previous week. Some reserves were provided during the statement week through repurchase agreements and outright purchases of both Federal Agency obligations and Treasury bills. Averages of daily figures Member bank reserves. Week ended Change from week ended Wednesday, Reserve Bank credit, July*25, July 18, July 26, July*25, and related items L2Z3. 1973 1972 1973 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 75,260 112 44,430 1/2/74,974 Held under repurchase agreements 314 25 + 314 234 Federal Agency obligations— Bought outright 1,593 144 + 514 1,617 Held under repurchase agreements 76 28 + 76 52 Acceptances-- Bought outright 52 5 13 51 Held under repurchase agreements 19 4 + 19 34 Loans — Total member bank borrowing 2,080 + 358 +1,908 2,025 Includes seasonal borrowing of: 128 + 11 + 128 134 Other borrowing Float 3,280 528 - 409 3,340 Other F.R. assets 1,244 61 + 88 1,273 Total Reserve Bank credit 83,917 132 +6,926 83,600 Gold stock 10,410 10,410 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 8,540 + 451 8,543 103,267 129 +7,377 102,953 Currency in circulation 68,250 363 +5,720 68,144 Treasury cash holdings 331 13 4 330 Treasury deposits with F.R. Banks 3,168 56 + 635 3,032 Foreign deposits with F.R. Banks 405 124 + 134 277 Other deposits with F.R. Banks 4/ 778 39 + 194 4/ 750 Other F.R. liabilities and capital 2,780 50 + 477 ,803 75,711 - 298 +7,155 75,336 Member bank reserves: With Federal Reserve Banks 27,557 169 + 223 27,617 Currency and coin 6,140 37 + 434 6,140 Total reserves held V 33,809 + 132 + 769 33,869 Required reserves 33,793 + 521 + 832 33,793 Excess reserves 3/ 16 - 389 - 63 76 NOTE: A net of $227 million of surplus reserves were eligible to be carried forward from the week ended July 18, into the week ending July 25. On July 25, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $29,264 million, an increase of $289 million for the week. 1/ Excludes $375 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. .2/ Includes $181 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ 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. 47 Includes $3 million of certain deposits of domestic non-member banks and foreign-owned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by non-member institutions in the Federal Reserve System's program of credit restraint. Estimated (St. Louis 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 July 25,** July 18, July 26, 1973 1973 _JL22SL_ A S S E TS Gold certificate account 10,303 „ -- Special Drawing Rights certif. accts. •k 400 ... _- Cash (1,203) 305 + 7 12 Loans 2,025 + 351 +1,388 Acceptances--Bought outright 51 -- - 13 Held under repurchase agreements 34 + 18 + 34 Federal Agency obligations—Bought outright 1,617 + 168 + 538 Held under repurchase agreements 52 - 155 + 52 U. S. Government securities: Bought outright—Bills 34,172 - 354 +3,390 Certificates Notes 37,138 -- + 542 Bonds 3,664 — + 162 Total bought outright 1/2/ 74,974 - 354 +4,094 Held under repurchase agreements 234 - 143 + 234 Total U.S. Government securities 75,208 - 497 J*«£S. Total loans and securities 78,987 - 115 +6,327 Cash items in process of collection (2,088) 8,940 -1,875 -2,768 Bank premises 207 — + 44 Other assets $f 1,066 „+___63_ + 61 TOTAL ASSETS (3,291) 100,208 -1,920 +3,652 L I A B I L I T I ES Federal Reserve notes (1,203) 60,129 - 505 +5,081 Deposits: Member bank--reserves account 27,537 - 680 - 257 U. S. Treasurer—general account 3,032 + 27 + 542 Foreign 277 + 20 + 121 Other Lj 750 32 + 149 Total deposits 31,596 - 665 + 555 Deferred availability cash items (2,088) 5,680 - 816 -2,459 Other liabilities and accrued dividends 847 - 21 + 302 TOTAL LIABILITIES 98,252 -2,007 +3,479 £ A P I T A L A C C O U N TS Capital paid in 822 + 49 Surplus 793 + 51 Other capital accounts 341 87 + 73 Contingent liability on acceptances purchased for foreign correspondents 498 + 10 + 236 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $375 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. u Includes $181 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. II Includes assets denominated in foreign currencies. 4/ Includes $3 million of certain deposits of domestic non-member banks and foreign-owned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by non-member institutions in the Federal Reserve System1s program of credit restraint. ** Estimated (St. Louis District), MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 25, 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 1,959 50 5,433 -400 54 -161 16 days to 90 days 66 35 17,860 +505 52 + 4 91 days to 1 year -- .. 13,973 -602 373 + 42 Over 1 year to 5 years — -- 26,982 -- 630 + 68 Over 5 years to 10 years — .. 9 358 -- 308 + 24 31 Over 10 years -- -- JL 602 — 252 + 36 ( Total 2,025 85 75,208 •497 1,669 + 13 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 JULY 25,1973 New Phila Cleve Rich St. * Minne Kansas San Total Boston Atlanta Chicago Dallas York delphia land mond Louis apolis City Francisco (In millions of dollars) A S S E TS Gold certificate account 10,303 432 3,179 543 678 922 256 1,854 324 186 477 257 1,195 Special Drawing Rights certif. acct. ] 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,203 121 226 51 45 108 183 86 89 25 48 66 155 Other cash 305 15 21 4 34 36 40 34 22 5 39 14 41 Loans 2,025 196 403 55 108 289 223 340 87 37 100 112 75 Acceptances: Bought outright 51 -- 51 — — — — — — -- -- — -- Held under repurchase agreements 34 — 34 — — — — — — — — -- «.- Federal Agency obligations-- Bought outright 1,617 74 435 84 117 115 87 258 60 33 62 71 221 Held under repurchase agreements 52 -- 52 — — -- — — — — — — -- U.S. Government securities: Bought outright-- Bills 34,172 1,559 9,190 1,779 2,470 2,440 1,829 5,453 1,262 708 1,316 1,504 4,662 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 i 3,664 167 985 191 265 262 196 585 135 76 141 161 500 Total bought outright 1/2/ 74,974 3,420 20,162 3,904 5,419 5,353 4,013 11,965 2,769 r, 554 2,887 3,298 10,230 Held under repurchase agreements 234 — 234 -- -- -- — — — — _- ». Total U.S. Government securities 75,208 3,420 20,396 3,904 5,419 5,353 4,013 11,965 2,769 ~~T3 54~ 2,887 "3,298 loTiio Total loans and securities 78,987 3,690 21,371 4,043 5,644 5,757 4,323 12,563 2,916 1 ,624 3,049 3,481 10,526 Cash items in process of collection 1 11,028 455 2,019 631 559 1,113 1,169 1,671 320 461 735 642 1,253 Bank premises 207 35 7 7 27 14 15 17 14 34 17 12 8 Other assets 3/ 1,066 45 272 57 79 76 57 153 38 26 38 43 182 TOTAL ASSETS 103,499 ; 4,816 27,188 5,359 7,099 8,062 6,065 16,448 3,738 2 ,368 4,418 4,529 13,409 1/ Excluded $375 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions, 2/ Includes $181 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Estimated (St. Louis 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. UN JULY o, i? / J 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 61,332 3,153 15,273 3,828 4,864 5,425 3,169 10,252 2,355 1,113 2,419 2,347 7,134 Deposits: Member bank reserves 27,53? 958 8,138 865 1,515 1,382 1,746 4,355 741 618 1,042 1,369 4,808 U. S. Treasurer--general account 3,032 243 1,001 166 91 274 203 85 203 150 217 173 226 Foreign 111 11 1/ 81 13 24 14 19 42 9 6 11 14 33 Other 750 2 606 20 2 21 9 53 2 2 7 5 21 Total deposits 31,596 1,214 9,826 1,064 1,632 1,691 1,977 4,535 955 776 1,277 1,561 5,088 Deferred availability cash items 7,768 331 1,346 328 373 777 734 1,225 332 414 611 483 814 Other liabilities and accrued dividends 8471 38 239 41 59 57 49 127 29 20 31 35 122 TOTAL LIABILITIES 101,543 4,736 26,684 5,261 6,928 7,950 5,929 16,139 3,671 2,323 4,338 4,426 13,158 CAPITAL ACCOUNTS Capital paid in 822 33 209 41 74 45 60 130 28 19 34 45 104 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 341 13 88 18 25 25 21 55 12 8 13 15 48 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 103,499 4,816 27,188 5,359 7,099 8,062 6,065 16,448 3,738 2,368 4,418 4,529 13,409 Contingent liability on ace eptances purchased for forei. gn correspondents 498 21 2/130 25 45 26 35 78 17 11 21 27 62 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 64,214 3,314 16,005 3,902 5,047 5,626 3,437 10,488 2,568 1,170 2,551 2,517 7,589 Collateral for F. R. notes: Gold certificate account 2,295 180 350 350 555 700 155 5 U. S. Government securities 63,375 3,160 16,250 3,700 4,850 5,155 3,600 9,900 2,480 1,200 2,600 2,580 7,900 Total collateral 65,670 3,340 16,250 4,050 5,200 5,710 3,600 10,600 2,635 1,200 2,600 2,585 7,900 JL/ After deducting $ 196 million participations of other Federal Reserve Banks. Estimated (St. Louis District), ;/ After deducting $ 368 million participations of other Federal Reserve Banks. 3/ Includes $3 million of certain deposits ci" domestic non-member banks and foreign-owned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by non-member institutions in the Federal Reserve System!s program of credit restraint. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis