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 16, 1973 The average of daily figures for total reserves of member banks increased $355 million in the latest statement week to $33,769 million. Required reserves and excess reserves increased while member bank borrowings at Federal Reserve Banks declined. An increase in float and declines in both Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital 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 $931 million reserves net, on a weekly average basis through matched sale-purchase transactions. Averages of daily iE igures Member Dank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, August 15, August 8, August 16, August 15, and related items 1973 ** 1973 1972 1973 ** Reserve Bank credit: (Irl millions oi: dollars) U.S. Government securities-- 1/2/ Bought outright—System account 74,325 977 +3,572 72,101 Held under repurchase agreements _- -- - 117 .- Special Certificates 50 + 50 + 50 351 Federal Agency obligations— Bought outright 1,614 -- + 445 1,614 Held under repurchase agreements 6 Acceptances -- Bought outright 49 4 17 46 Held under repurchase agreements -- -- 17 — Loans — Total member bank borrowing 1,916 92 +1,534 2,530 Includes seasonal borrowing of: 148 10 + 148 138 Other borrowing Float 2,804 + 135 - 497 3,801 Other F.R. assets 1,303 + 4 + 191 923 Total Reserve Bank credit 82,062 - 883 +5,140 81,366 Gold stock 10,410 -- -- 10,410 Special Drawing Rights certif. acct. 400 -_ _- 400 Treasury currency outstanding 8,546 + 3 + 411 8,548 101,417 - 881 +5,550 100,724 Currency in circulation 68,626 + 315 +5,705 68,821 Treasury cash holdings 347 + 13 + 34 354 Treasury deposits with F.R. Banks 1,413 -1,360 - 719 * Foreign deposits with F.R. Banks 314 + 39 + 147 409 Other deposits with F.R. Banks 4/ 874 + 58 + 263 778 Other F.R. liabilities and capital 2,704 - 253 + 469 2,744 74,277 -1,189 +5,900 73,106 Member bank reserves: With Federal Reserve Banks 27,141 + 311 - 348 27,619 Currency and coin 6,516 + 44 + 679 6 516 ? Total reserves held 2/ 33,769 + 355 + 443 34,247 Required reserves 33,510 + 120 + 438 33,510 Excess reserves 3/ 737 NOTE A net of $72 million of surplus reserves were eligible to be carried forward from the week ended August 8, into the week ending August 15. On August 15, 1973, marketable U.S Government securities held in custody C by the Federal Reserve Banks for foreign and international accounts were $28,244 million, a decrease of $589 million for the week. 1/ Excludes $3,328 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. y Includes $163 million securities loaned —fully secured by U.S. Government securities pledged with Federal Reserve Banks. 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. •k Less than $500,000. Estimated (New York, Cleveland, Minneapolis 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 August 15, August 8, August 16, 1973*** 1973 1972 A S S E TS Gold certificate account 10,301 2 2 Special Drawing Rights certif. accts. * 400 — — Cash (1,057) 307 - 1 18 Loans 2,530 +1 ,101 +1,995 Acceptances—Bought outright 46 - 2 22 Held under repurchase agreements -- -- - 77 Federal Agency obligations—Bought outright 1,614 -- + 445 Held under repurchase agreements -- -- - 29 U.S. Government securities: Bought outright--Bills 31,299 _ 572 + 535 Certificates - Special 351 + 351 + 351 Other Notes 37,374 236 767 Bonds 3,4 28 236 63 Total bought outright 1/2/ 72,4 52 - 221 +1,590 Held under repurchase agreements -- - 649 Total U.S. Government securities 72,452 - 221 + 941 Total loans and securities 76,642 + 878 +3,253 Cash items in process of collection (1,868) 11,123 +2,457 -2,259 Bank premises 209 + 1 + 45 Other assets 3/ 714 - 441 + 202 TOTAL ASSETS (2,925) 99,696 +2,892 +1,221 L I A B I L I T I ES Federal Reserve notes (1,057) 60,824 + 143 +5,416 Deposits: Member bank-reserves account 27,539 +3,016 - 887 U. S. Treasurer—general account ** -2,302 -1,792 Foreign 409 + 124 + 238 Other 4/ 778 - 49 + 120 Total deposits 28,726 + 789 -2,321 Deferred availability cash items (1,868) 7,402 +1,860 -2,352 Other liabilities and accrued dividends 912 + 14 + 342 TOTAL LIABILITIES (2,925) 97,864 +2,806 +1,085 £ AII1 £L A££2ni£ 826 + 1 + 51 Capital paid in 793 — + 51 Surplus 213 + 85 + 34 Other capital accounts Contingent liability on acceptances purchased for foreign correspondents 504 + 2 + 237 * Figures in parentheses are the eliminations made in the consolidating process„ J7 Excludes $3,328 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2_l Includes $163 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. ^3/ Includes assets denominated in foreign currencies. 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. ** Less than $500,000. *** Estimated (New York, Cleveland and Minneapolis Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 15,, 1973 ^ (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U.S. Government Federal Agency Loans Accept securities obligations ances Holdings Weekly Holdings Weekly changes Changes Within 15 days 2,467 11 3,232 - 548 17 +17 16 days to 90 days 63 35 16,361 + 152 35 -17 91 days to 1 year 19,628 44,886 372 Over 1 year to 5 years 22,171 -4,811 631 + 1 Over 5 years to 10 years 9,358 307 - 1 Over 10 years 1,702 + _U>£ 252 Total 2,530 46 72,452 221 1,614 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 AUGUST 15, 19 73 1 is, New* Phila Cleve Rich [inne- Kansas San Total Boston Atlanta | Chicago Da Has York delphia land' mond . , . 1 1 pol is City Francisco (In millions of dolla '.r s L ) o uis A S S E TS ! Gold certificate account 10,301 608 1,880 654 713 1,021 573 2,171 398 21 147 394 1,721 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks I 1,057 141 225 42 47 87 186 63 24 23 36 62 121 Other cash 307 16 22 4 32 37 41 36 21 6 38 14 40 Loans 2,530 165 583 74 113 75 223 561 86 100 171 124 255 Acceptances: Bought outright 46 46 __ --. __ «.«. _ _ - - _ _ Held under repurchase agreements -.- -.- -_ _- -- __ _- __ -.- — •» Federal Agency obligations-- ! 1,614 72 428 87 119 115 84 256 59 33 67 72 222 Bought outright Held under repurchase agreements -_ -- -_ __ __ __ U.S. Government securities: Bought outright-- Bills ! 31,299 1,397 8,304 1,693 2,302 2,227 1,641 4,961 1,140 635 1,308 1 ,390 4,301 Certificates: Special 351 351 Other -- -- -- -- -- -- -- -- -- -- -- -- -- Notes ! 37,374 1,668 9,915 2,022 2,750 2,659 1,959 5,924 1,362 759 1,562 1 ,659 5,135 Bonds | 3,428 153 909 186 252 244 180 543 125 70 143 152 471 Total bought outright 1/ 2/ | 72,452 3,218 19,479 3,901 5,304 5,130 3,780 11,428 2,627 1 ,464 3,013 3 ,201 9,907 Held under repurchase agreements Total U.b, Government securities ! 72,452 3,218 19,479 3^901 5,304 5,130 3,780 11,428 2,627 1 ,464 3,013 3 ,201 9,907 Total loans and securities 76,642 3,455 20,536 4,062 5,536 5,320 4,087 12,245 2,772 1 ,597 3,251 3 ,397 10,384 Cash items in process of collection 12,991 421 2,706 859 465 1,313 1,168 1,863 501 605 899 646 1,545 Bank premises ! 209 36 7 8 27 14 15 17 14 34 17 12 8 Other assets 3/ 714 50 275 33 30 33 69 66 15 15 18 18 92 TOTAL ASSETS |102,621 4,750 25,744 5,685 6,883 7,861 6,161 16,531 3,760 2 ,308 4,421 4 ,557 13,960 \_l Excludes $3,328 million of securities sold, and scheduled to be bought back, under matched sale-purchaset ransactions. 2_/ Includes $163 million securities loaned--fully secured by U.S. Government securities pledged with Feder1a Reserve Banks. _3/ Includes assets denominated in foreign currencies. * Estimated (New York, Cleveland, and Minneapolis 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 15, 1973 New** Phila Clever-A 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 61,881 3,153 15,400 3,828 4,920 5,486 3,218 10,334 2,436 1,112 2,433 2,367 7,194 Deposits: » Member bank reserves 27,539 1,028 7,181 1,053 1,374 1,186 1,785 4,540 797 649 1,113 1,481 5,352 U. S. Treasurer—general account * * * JL. * •k * Foreign 409 14 1/ 172 16 29 17 22 50 11 1 14 17 40 Other 3/778 2 654 20 2 19 10 28 4 3 7 9 20 Total deposits 28,726 1,044 8,007 1,089 1,405 1,222 1,817 4,618 812 659 1,134 1,507 5,412 Deferred availability cash items 9,270 439 1,622 630 333 987 943 1,156 420 471 739 548 982 Other liabilities and accrued dividends 912 39 250 46 64 62 S3 133 30 1L 3Q 37 135 TOTAL LIABILITIES 100,789 4,675 25,279 5,593 6,722 7,757 6,031 16,241 3,698 2,266 4,345 4,459 13,723 CAPITAL ACCOUNTS Capital paid in 826 33 209 41 74 45 60 130 28 20 35 45 106 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 213 8 49 12 15 17 1 5 36 7 A 8 10 32 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 102,621 4,750 25,744 5,685 6,883 7,861 6,161 16,531 3,760 2.308 4.421 4,557 13,960 Contingent liability on ace eptances purchased for forei- gn 504 21 2/132 25 46 26 35 79 17 12 21 27 63 .._ correspondents FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,330 16,149 3,888 5,053 5,673 3,439 10,542 2,566 1,162 2,570 2,543 7,598 Collateral for F. R. notes: Gold certificate account 200 — 350 350 605 700 155 5 U. S. Government securities 3,160 16,250 3,700 4,850 5,120 3,600 10,100 2.480 1,200 Z,$()Q 2,580 7,900 Total collateral 3,360 16,250 4,050 5,200 5,725 3,600 10,800 2,635 1,200 2,600 2,585 7,900 1/ After deducting $237 million participations of other Federal Reserve Banks. ** Estimated (New York, Cleveland and Minneapolis Districts.) * Less than $500,000. 2/ After deducting $372 million participations of other Federal Reserve Banks. in full with Federal Reserve Banks in connection with voluntary participation 3/ Includes $5 million of certain deposits of domestic non-member banks and by non-member institutions in the Federal Reserve System's program of credit foreign-owned banking institutions held with member banks and redeposited restraint. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis