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 23, 1973 The average of daily figures for total reserves of member banks declined $206 million in the latest statement week to $33,590 million. Required reserves and member bank borrowings at Federal Reserve Banks increased while excess reserves declined. Declines in both float and other Federal Reserve assets and an increase in other Federal Reserve liabilities and capital were the major factors absorbing reserves in the latest statement week. Partially off setting these reserve drains were declines in both Treasury deposits with Federal Reserve Banks and currency in circulation. In addition, System Open Market operations provided $394 million reserves net, on a weekly average basis. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, August 22, August 15 August 23, August 22, and related items 1973 * 1973 1972 1973 * Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright--System account 74,515 +190 +3,953 1/21/74,402 Held under repurchase agreements 230 +230 v ?30 554 Special Certificates - 50 Federal Agency obligations-- Bought outright 1,614 + 445 1,614 Held under repurchase agreements 9 + 9 24 Acceptances — Bought outright 45 - 4 23 46 Held under repurchase agreements 19 + 19 + 19 53 Loans — Total member bank borrowing 2,135 +219 +1,787 3,036 Includes seasonal borrowing of: 163 + 15 + 163 166 Other borrowing Float 2,675 -176 981 3,089 Other F.R. assets Z22. z510 OQ2 L§3 Total Reserve Bank credit 82,013 - 74 +5,539 83,571 Gold stock 10,410 10,410 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 8,549 + 3 + 398 8.552 101,372 - 71 +5, 937 102,933 Currency in circulation 68,463 -156 +5 ,678 68,450 Treasury cash holdings 353 + 6 + 38 356 Treasury deposits with F.R. Banks 919 -494 - 861 1,968 Foreign deposits with F.R. Banks 348 + 34 + 171 277 Other deposits with F.R. Banks 4/ 884 + 6 + 303 772 Other F.R. liabilities and capital 2,826 +122 + 537 2,846 73,793 -482 +5 ,865 74,669 Member bank reserves: With Federal Reserve Banks 27,579 +411 + 72 28,264 Currency and coin 5,899 -617 + 584 5,899 Total reserves held 3/ 33,590 -206 + 768 34,275 Required reserves 33,558 + 48 + 776 33,558 Excess reserves 3/ 32 -254 8 717 NOTE: A net of $109 million of surplus reserves were eligible to be carried forward from the week ended August 15, into the week ending August 22. On August 22, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,335 million, an increase of $91 million for the week. 1/ Excludes $554 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $123 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 $20 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 (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 August; 22, August 15,1 August 23, 1973 ** 1973 1972 A S S E TS 10,303 -- -- Gold certificate account Special Drawing Rights certif. accts. 400 -- -- Cash (1,173) 312 + 5 - 16 Loans 3,036 + 506 +2,159 Acceptances—Bought outright 46 -- 21 Held under repurchase agreements 53 + 53 + 53 Federal Agency obligations—Bought outright 1,614 -- + 455 Held under repurchase agreements 24 + 24 + 24 U.S. Government securities: Bought outright—Bills 33,600 +2 ,301 +4,019 Certificates - Special -- - 351 -- Other Notes 37,374 671 Bonds 1,428 _B3- Total bought outright 1/ 2/ 74,402 +1,950 +4,607 Held under repurchase agreements 554 + 554 + 554 Total U.S. Government securities 74,956 +2,504 +5,161 Total loans and securities 79,729 +3,08/ +7,821 Cash items in process of collection (1,679) 8,764 -2,881 -2,481 Bank premises 210 + 1 + 45 Other assets 37 S43- ^ LS_ JZ 1£_ TOTAL ASSETS (2,852) XQSU&L + 194 +5.350 L I A B I L I T I ES Federal Reserve notes (1,173) 60,459 - 319 +5,299 Deposits: Member bank-reserves account 28,184 + 582 +1,214 U. S. Treasurer—general account 1,968 +1,968 + 49 Foreign 277 - 132 + 90 Other 47 772 - 3<? + 199 Total deposits 31,201 +2 ,382 +1,552 Deferred availability cash items (1,679) 5,755 -1 ,968 -2,032 Other liabilities and accrued dividends + 8 + 363 TOTAL LIABILITIES (2,852) 98,332 + 103 +5,182 C A P I T AL A C C O U N TS Capital paid in 826 -- + 49 Surplus 793 — + 51 Other capital accounts 310 + 91 + 68 Contingent liability on acceptances purchased for foreign correspondents 518 + 14 + 232 * Figures in parentheses are the eliminations made in the consolidating process. 17 Excludes $554 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $123 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $20 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 (San Francisco District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, August 22. 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 2,939 67 5,337 +2,105 46 +29 16 days to 90 days 97 32 18,026 +1,665 30 - 5 91 days to 1 year L8,362 -1,266 372 — Over 1 year to 5 years 22,171 -- 631 -- Over 5 years to 10 years 9 ,358 -- 307 3 Over 10 years 1,702 -- 252 .. Total 3,U36 99 74,956 +2,504 1,638 +24 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 AUGUST 22, 1973 Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas San * York delphia land mond Louis apolis City Francisco (In millions of dollars) A S S E TS Gold certificate account 10,301 678 2,095 517 893 738 497 2,155 417 93 127 196 1,897 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 1.5 14 49 F.R. notes of other banks 1,173 150 250 48 45 100 200 65 32 28 45 72 138 Other cash 312 17 23 5 32 37 41 35 22 6 38 14 42 Loans 3,036 161 1,258 205 105 270 266 299 51 66 180 103 Acceptances: Bought outright 46 46 Held under repurchase agreements 53 53 Federal Agency obligations-- 1,614 72 430 87 119 115 84 256 59 31 67 72 222 Bought outright Held under repurchase agreements 24 24 U.S. Government securities: Bought outright-- Bills 33,600 1,500 8,959 1,818 2,472 2,390 1,762 5,326 1,224 636 1,404 1,492 4,617 Certificates: Other Notes 37,374 1,668 9,966 2,022 2,750 ,659 3,924 1,362 708 l,i-:2 i,o59 >,13: Bonds 3,428 153 914 186 252 244 180 543 125 65_ ._..!_•,•. _152.. Total bought outright 1/ 2/ 74,402 3,321 19,839 4,026 5,474 ,293 3,901 11,793 "11 1,409 J,lA-v 3,303 Held under repurchase agreements 554 554 Total U.S. Government securities 74,956 3,321 20,393 ,026 5,474 5,293 3,901 1,793 "LI 1.409 3,109 3.303 _i£um_ Total loans and securities 79,729 3,554 22,204 4,318 5,698 5,678 4,251 12,348 2,821 1,506 3,356 3,447 10,5 48 Cash items in process of collection 10,443 350 1,642 491 522 1,196 1,172 U7 432 623 o => 643 1,2 50 Bank premises 210 37 7 8 27 14 15 17 14 34 7 12 Other assets 3/ 543 22 134 31 34 39 34 68 15 23 0 21 102 TOTAL ASSETS 103,113 4,831 26,448 5,441 7,284 7,838 6,232 16,175 3,768 2,320 4,323 4,419 14,034 17 Excludes $554 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions, 2/ Includes $123 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ 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 AUGUST 22, 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) LIABILITIES. Federal Reserve notes 61,632 3,146 15,365 3,819 4,898 5,463 3,138 10,334 2,426 1,109 2,424 2,357 7,153 Deposits: Member bank reserves 28,184 1,097 8,232 1,000 1,640 1,177 1,868 4,007 782 605 1,101 1,274 5,401 U. S. Treasurer—general account 1,968 110 362 89 121 136 137 357 116 136 69 120 215 Foreign 277 11 1/ 77 13 25 14 19 43 9 6 11 15 34 Other 3/ 772 3 609 19 2 23 55 17 5 4 8 7 20 Total deposits 31,201 1,221 9,280 1,121 1,788 1,350 2,079 4,424 912 751 1,189 1,416 5,670 Deferred availability cash items 7,434 346 1,055 359 366 853 827 981 333 395 593 507 819 Other liabilities and accrued dividends 917 39 254 45 63 62 53 132 31 22 37 37 142 TOTAL LIABILITIES 101,184 4,752 25,954 5,344 7,115 7,728 6,097 15,871 3,702 2,277 4,243 4,317 13,784 CAPITAL ACCOUNTS Capital paid in 826 33 209 41 74 45 61 129 28 20 35 45 106 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 310 12 78 17 23 23 19 51 11 5 12 14 45 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 103,113 4,831 26,448 5,441 7,284 7.838 6.232 16.175 3.768 2.320 4.323 4.419 14.034 Contingent liability on ace. eptances purchased for forei •gn correspondents 518 22 2/135 25 47 27 36 81 1£_ -11- 22 28 65 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,321 16,236 3,888 5,070 5,667 3,422 10,538 2,558 1,161 2,560 2,544 7,594 Collateral for F. R. notes: Gold certificate account 250 — 350 350 605 700 155 U. S. Government securities 3,110 16,450 3,700 4,850 5,120 3.600 10,100 2.480 1.200 2.600 2.580 7.900 Total collateral 3,360 16,450 4,050 5,200 5,725 3,600 10,800 2,635 1,200 2,600 2,585 7,900 1/ After deducting $ 200 million participations of other Federal Reserve Banks. * Estimated (San Francisco District), 2/ After deducting $ 383 million participations of other Federal Reserve Banks. 37 Includes $ 20 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. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis