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 August 9, 1973 The average of daily figures for total reserves of member banks declined $616 million in the latest statement week to $33,414 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined. An increase in float and declines in both Treasury deposits and foreign 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 $1,019 million reserves net, on a weekly average basis through matched sale-purchase transactions and maturing repurchase agreements made in the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, August 8,* August 1, August 9, August 8,* and related items 1973 1973 1972 . 1973 Reserve Bank credit: (In millions of dollars) T727 U.S. Government securities-- Bought outright-»System account 75,302 486 +4,486 Held under repurchase agreements 440 - 134 72,673 Federal Agency obligations-- Bought outright 1,614 3 + 463 Held under repurchase agreements 44 1 1,614 Acceptances-- Bought outright 53 14 Held under repurchase agreements 46 16 48 Loans — Total member bank borrowing 2,008 - 86 +1,721 1,429 Includes seasonal borrowing of: 158 + 17 + 158 156 Other borrowing Float 2,672 + 405 - 628 3,221 Other F.R. assets 1,298 + 20 + 33 1,358 Total Reserve Bank credit 82,946 - 681 +5,909 80,343 Gold stock 10,410 -- -- 10,410 Special Drawing Rights certif. acct. 400 -- .- 400 Treasury currency outstanding 8,543 ±_ 4 + 427 8,544 .02,300 676 +6,336 99,697 Currency in circulation 68,310 + 259 +5,629 68,663 Treasury cash holdings 334 + 10 + 4 352 Treasury deposits with F.R. Banks 2,773 - 155 + 242 2,302 Foreign deposits with F.R. Banks 275 - 132 + 116 285 Other deposits with F.R. Banks 4/ 816 .. 2 + 183 822 Other F.R. liabilities and capital 2,961 + 58 + 582 2,670 75,469 + 38 +6,756 75,094 Member bank reserves: With Federal Reserve Banks 26,830 - 715 - 421 24,603 Currency and coin 6,472 ±_ 99 + 590 6,472 Total reserves held 3/ 33,414 616 + 281 31,187 Required reserves 33,390 - 164 + 387 33,390 Excess reserves 3/ 24 - 452 - 106 -2,203 NOTE: A net of $385 million of surplus reserves were eligible to be carried forward from the week ended August 1, into the week ending August 8. On August 8, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,833 million, a decrease of $170 million for the week. 17 Excludes $3,269 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $151 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. 4/ Includes $5 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 (Boston and Cleveland 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 August: 8,**1 August 1, Augus t 9 1973 1973 1972 A S S E TS Gold certificate account 10,303 -- -- Special Drawing Rights certif. accts. JU 400 -- — Cash (1,048) 308 + 3 - 15 Discounts and advances 1,429 + 51 + 587 Acceptances--Bought outright 48 - 7 17 Held under repurchase agreements -- - 97 97 Federal Agency obligations—Bought outright 1,614 -- + 445 Held under repurchase agreements -- 76 3 U. S. Government securities: Bought outright--Bills 31,871 -3, 460 +1,185 Certificates Notes 37,138 + 542 Bonds 3,664 + 162 Total bought outright 1/2/ 72,673 •3,460 +1,889 Held under repurchase agreements • 723 - 609 Total U.S. Government securities 72,673 -4,183 +1,280 Total loans and securities 75,764 -4,312 +2,195 Cash items in process of collection (1,586) 9,041 - 484 -2,163 Bank premises 208 + 1 + 44 Other assets J3/ 1,150 + 6 6 TOTAL ASSETS (2,634) 97,174 -4,786 55 LIABILITIES! Federal Reserve notes (1,048) 60,672 + 424 +5,242 Deposits: Member bank--reserves account 24,523 -4,685 -3,701 U. S. Treasurer--general account 2,302 + 21 - 171 Foreign 285 + 35 + 129 Other 4/ 822 + 44 + 260 Total deposits 27,932 -4,585 -3,483 Deferred availability cash items (1,586) 5,900 - 301 -2,169 Other liabilities and accrued dividends 898 - 46 + 325 TOTAL LIABILITIES (2,634) 95,402 -4,508 85 £ A 1 I I A L A C C O U N T^ Capital paid in 825 + 1 + 50 Surplus 793 -- + 51 Other capital accounts 154 - 279 + 39 Contingent liability on acceptances purchased for foreign correspondents 502 + 4 + 237 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $3,269 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. J2/ Includes $151 million securities loaned — fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. £_' Includes $5 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 (Boston and Cleveland Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 8, 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 1,353 12 3,780 -2,676 -- -76 16 days to 90 days 76 36 16,209 -1,259 52 91 days to 1 year -- 14,742 - 248 372 Over 1 year to 5 years -_ 26,982 -- 630 Over 5 years to 10 years -„ 9,358 -- 308 Over 10 years --• 1,602 -- 252 Total 1,429 48 72,673 -4,183 1,614 -76 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1U>) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 8, 1973 New Phila Cleve Rich St. Minne Kansas San Total Boston" Atlanta Chicago D alias York delphia land * mond Louis apolis City Francisco O. n millions of dollars) A S S E TS Gold certificate account 10,303 488 2,290 603 621 901 538 2,127 504 187 168 191 1,685 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,048 141 224 44 50 92 164 66 28 23 39 62 115 Other cash 308 15 22 4 33 36 41 36 21 5 39 14 42 Loans 1,429 134 276 41 99 123 157 203 34 48 135 66 113 Acceptances: Bought outright 48 -- 48 -- -- ..-. -- -- -- -- -- -- .. Held under repurchase agreements -- -- -- __ -- -- -- -- -- -- -- __ Federal Agency obligations-- Bought outright 1,614 72 428 87 119 115 84 256 59 33 67 72 222 Held under repurchase agreements -- — -- -- -. -- -- -- -- -- -- __ ._ U.S. Government securities: Bought outright-- Bills 31,871 1,422 8,455 1,724 2,344 2,268 1,671 5,052 1,162 647 1,332 1 ,415 4,379 Certificates: Other -- — -- -- -- -- -- -- -- -- -. __ Notes 37,138 1,657 9,853 2,010 2,732 2,642 1,947 5,886 1,353 754 1,552 1 ,649 5,103 Bonds 3,664 164 972 198 270 261 192 581 133 74 153 163 503 Total bought outright i 111 72,673 3,243 19,280 3,932 5,346 5,171 3,810 11,519 2,648 1,475 3,037 ~T, 227 9,985 Held under repurchase agreements" -- -- -- — -- -- -- -- .- -- -- -- -- Total U.S. Government securities 72,673 3,243 19,280 3,932 5,346 5,171 3,810 11,519 2,648 1,475 3,037 ~T7 ^Ti~~ _ _ _ __ Total loans and securities 75,764 3,449 20,032 4,060 5,564 5,409 4,051 11,978 2,741 1,556 3,239 3 ,365 10,320 Cash items in process of collection 10,627 450 2,151 450 675 1,238 1,037 1,332 372 476 681 557 1,208 Bank premises 208 36 7 7 27 14 15 17 14 34 17 12 8 Other assets 1/ 1,150 49 296 73 81 80 63 169 38 27 44 48 182 TOTAL ASSETS 99,808 4,651 25,115 5,264 7,084 7,806 5,931 15,795 3,733 2,315 4,242 4 ,263 13,609 1/ Excluded $3269 million of securities sold, and scheduled to be bought back, under matched sale=purchase transactions. 2/ Includes $151 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denomination in foreign currencies. * Estimated (Boston and Cleveland 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 AUGUST 8, 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 61,720 3,165 15,348 3,820 4,884 5,473 3,202 10,297 2,435 1,113 2,432 2,361 7,190 Deposits: Member bank reserves 24,523 797 6,769 755 1,232 1,163 1,639 3,812 696 594 992 1,169 4,905 U. S. Treasurer—general account 2,302 147 430 195 109 195 135 259 178 135 118 123 278 Foreign 285 11 1/ 85 13 25 14 19 43 9 6 11 15 34 Other 3/ 822 2 689 22 1 23 11 29 4 3 10 6 22 Total deposits 27,932 957 7,973 985 1,367 1,395 1,804 4,143 887 738 1,131 1,313 5,239 Deferred availability cash items 7,486 410 1,115 324 596 779 748 944 320 402 571 457 820 Other liabilities and accril ed dividends 898 41 234 47 64 61 52 135 31 22 36 38 137 TOTAL LIABILITIES 98,036 4,573 24,670 5,176 6,911 7,708 5,806 15,519 3,673 2,275 4,170 4,169 13,386 CAPITAL ACCOUNTS Capital paid in 825 33 209 41 74 45 60 130 28 20 34 45 106 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 154 11 29 8 27 11 10 22 5 2 5 6 18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 99,808 4,651 25,115 5,264 7,084 7,806 5,931 15,795 3,733 2,315 4,242 4,263 13,609 Contingent liability on ace. eptances purchased for forei- gn correspondents 502 21 2/131 25 46 26 35 79 17 11 21 27 63 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,322 16,110 3,886 5,054 5,673 3,427 10,503 2,569 1,166 2,553 2,514 7,568 Collateral for F. R. notes: Gold certificate account 180 -- 350 350 555 -- 700 155 — -- 5 U. S. Government securities 3,160 16,250 3,700 4,850 5,200 3,600 9,900 2,480 1,200 2,600 2.580 7,900 Total collateral 3,340 16,250 4,050 5,200 5,755 3,600 10,600 2,635 1,200 2,600 2,585 7,900 1/ After deducting $200 million participations of other Federal Reserve Banks. 7/ After deducting $371 million participations of other Federal Reserve Banks. 3/ Includes $5 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 (Boston and Cleveland Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis