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 30, 1973 The average of daily figures for total reserves of member banks increased $226 million in the latest statement week to $33,818 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. A decline in float and an increase in Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. Partially offsetting these reserve drains was a decline in currency in circulation. In addition, System Open Market operations provided $487 million reserves net, on a weekly average basis, through outright purchases of Treasury bills and repurchase agreements. Some reserves were absorbed late in the state ment week through matched sale-purchase transactions. Averages of dally figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, August 29, August 22, August 30, August 29, and related items 1973 * 1973 1972 1973 * Reserve Bank credit: (In millions of dollars) U.S. Government securities — Bought outright—System account 74,932 4417 +4,665 172/74,369 Held under repurchase agreements 242 + 12 + 167 Federal Agency obligations- Bought outright 1,607 - 7 + 518 1,597 Held under repurchase agreements 58 + 49 + 41 Acceptances — Bought outright 48 + 3 - 19 46 Held under repurchase agreements 32 + 13 + 24 Loans — Total member bank borrowing 2,558 4423 +2,081 3,465 Includes seasonal borrowing of: 185 + 22 + 185 188 Other borrowing -«* Float 2,064 -613 -1,106 2,309 Other F.R. assets 749 - 23 + 20» 805 Total Reserve Bank credit 82 ,290 +275 +6,390 82 ,591 Gold stock 10, 410 10 410 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 8 ,554 + 401 _L L557 101,654 +6, 791 101,958 Currency in circulation 68,213 +5, 669 68,480 Treasury cash holdings 345 + 29 346 Treasury deposits with F.R. Banks 1,649 + 40 1,431 Foreign deposits with F.R. Banks 286 + 103 257 Other deposits with F.R. Banks 4/ 781 + 197 731 Other F.R. liabilities and capital 2,929 + 578 2.981 74 202 +6, 615 74,226 Member bank reserves: With Federal Reserve Banks 27 453 + 177 27,732 Currency and coin _L, 253 + 551 6.253 Total reserves held 3/ 33,818 + 840 34,097 Required reserves ~~ 33,673 + 922 33,673 Excess reserves 3/ 145 - 82 424 NOTE: A net of $49 million of surplus reserves were eligible to be carried forward from the week ended August 22, into the week ending August 29. On August 29, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,215 million, a decrease of $120 million for the week. \J Excludes $840 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $110 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 $22 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. v Estimated (Boston, Cleveland, and Richmond Disfriot-e\ 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 29, August 22 August 30, 197?** 1973 1972 A S S E TS Gold certificate account 10,303 Special Drawing Rights certif. accts. * 400 Cash (1,222) 308 4 16 Loans 3,465 429 +2,133 Acceptances—Bought outright 46 - 21 Held under repurchase agreements 53 - 58 Federal Agency obligations--Bought outright 1,597 17 + 521 Held under repurchase agreements 24 - 118 U.S. Government securities: Bought outright—Bills 33,567 33 +3,468 Certificates - Other Notes 37,374 671 Bonds 3,428 83 Total bought outright 1/ 2/ 74,369 - 33 +4,056 Held under repurchase agreements — - 554 - 526 Total U.S. Government securities •Wr - 587 +3,530 Total loans and securities -r 2'5fc +5,987 Cash items in process of collection (1,538) ~*;wi- ~^3t> ^r,52?7 - Bank premises 210 — + 46 Other assets jj/ ^S- TOTAL ASSETS (2,760) 99,235 +3,363 tlAHtlllls Federal Reserve notes (1,222) 60,470 + 11 +5,325 Deposits: Member bank-reserves account 27,652 - 678 -1,023 U. S. Treasurer—general account 1,431 - 537 + 25 Foreign 257 - 20 + 89, Other 0/ (3) Z31_ - 4L- + W Total deposits (3) 30,071 -1,276 - 780 Deferred availability cash items (1,535) 5,712 9 -1,761 Other liabilities and accrued dividends 963 + 46 + 38v TOTAL LIABILITIES (2,760) 97,216 -1,228 +3J70 £ A L 11 A k A £ £ ° H N 1 s, Capital paTd in" "" "~ 827 + 1 + 49 Surplus 793 — + 51 398 + 88 + 93 Other capital accounts Contingent liability on acceptances purchased for foreign correspondents 518 + 231 * Figures in parentheses are the eliminations made in the consolidating process. 17 Excludes $840 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2y Includes $110 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3>/ Includes assets denominated in foreign currencies. 4/ Includes $22 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 credit restraint. ** Estimated (Boston, Cleveland, and Richmond Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES. August 29, 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 3,351 13 3,959 -1 ,378 30 -16 16 days to 90 days 114 33 18,285 + 259 7 -23 91 days to 1 year — -- 18,894 + 532 379 + 7 Over 1 year to 5 years -- 22,171 — 622 - 9 Over 5 years to 10 years -• -- 9,358 — 307 -- Over 10 years -w- ih 1,702 — 252 — Total 3,465 74,369 - 587 1.357" -41 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 29, 1973 New Phila Cleve Rich St. Minne Kansas San Total Boston* Atlanta Chicago Dallas York delphia land * mond* Louis apolis City Francisco 0" n millions of dollars) A S S E TS Gold certificate account 10,303 550 2,118 590 789 842 336 2,072 425 211 71 265 2,034 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,222 151 266 51 47 115 210 64 33 29 43 80 133 Other cash 308 17 23 5 32 37 40 36 21 /6 38 14 39 Loans 3,465 160 967 157 171 286 382 618 53 42 178 136 315 Acceptances: Bought outright 46 -- 46 — -- -- -- -- -- -- _- — — Held under repurchase agreements -- — — — -- -- -- — — — -- — — Federal Agency obligations-- 1,597 71 426 86 118 114 84 253 58 30 67 71 219 Bought Outright Held under repurchase agreements — — — — -- — — -- — -- — — — U.S. Government securities: Bought outright-- Bills 33,567 1,498 8,951 1,816 2,469 2,388 1,760 5,321 1,223 636 1,403 1,490 4,612 % Certificates: Other Notes 37,374 1,668 9,966 2,022 2,750 2,659 1,959 5,924 1,362 708 1,562 1,659 5,135 Bonds 1 3,428 153 914 186 252 244 180 543 125 65 143 152 471 Total bought outright 1/2/ 1 74,369 3,319 19,831 4,024 5,471 5,291 3,899 11,788 2,710 1,409 3,108 3,301 10,218 Held under repurchase agreements _ -- _- -- -- -- -- -- -- -- «.- — -- Total U.S. Government securities 74,369 3,319 19,831 4,024 5,471 5,291 3,899 11,788 2,710 1,409 3,108 3,301 10,218 Total loans and securities 79,477 3,550 21,270 4,267 5,760 5,691 4,365 12,659 2,821 1,481 3,353 3,508 10,752 Cash items in process of collection 9,479 350 1,567 451 520 1,075 1,000 1,333 406 481 691 584 1,021 Bank premises 210 37 7 8 27 14 15 17 14 34 17 12 8 Other assets 3/ 595 32 153 42 38 40 29 76 18 15 20 23 109 TOTAL ASSETS |101,994 ! 4,710 25,497 5,437 7,246 7,850 6,017 16,327 3,753 2,264 4,248 4,500 14,145 1/ Excludes $840 million of securities sold, and scheduled to be bought back,u nder matched sale-purchase transactions, 2/ Includes $110 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Estimated (Boston, Cleveland and Richmond 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 29, 1973 * New Phila Cleve 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 61,692 3,159 15,363 3,820 4,905 5,476 3,165 10,322 2,421 1,105 2,423 2,355 7,178 Deposits: Member bank reserves 27,652 1,007 7,3 87 1,015 1,524 1,127 1,822 4,237 801 632 1,060 1,435 5,605 U. S. Treasurer—general account 1,431 70 273 82 125 54 64 273 101 64 66 65 194 Foreign 257 1 11 1/ 68 12 23 13 18 40 9 6 11 14 32 Other 734 3 616 20 1 15 10 24 3 3 8 8 23 Total deposits 30,074 1,091 8,344 1,129 1,673 1,209 1,914 4,574 914 705 1,145 1,522 5,854 Deferred availability cash items 7,247 337 1,023 339 432 950 748 973 317 388 558 478 704 Other liabilities and accrued dividends 963 41 246 47 65 99 50 139 32 21 38 39 146 TOTAL LIABILITIES QQ Q7A 4,628 24,976 5,335 7,075 7 l'XL 5,877 16,008 3 684 9 91 Q /, 1 A /. 4,394 13,882 «- , *- *. y CAPITAL ACCOUNTS Capital paid in 827 33 209 41 74 45 61 130 28 20 35 45 106 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 398 15 105 22 25 29 24 65 14 7 16 18 58 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 101.994 4,710 25,497 5,437 7,246 7,850 6,017 16,327 3,753 2,264 _.4 _248. 4,500 14,145 J Contingent liability on ace eptances purchased for forei gn correspondents 518 22 2/135 25 47 27 36 81 18 12 22 28 65 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 64,512 3,308 16,211 3,873 5,082 5,660 3,413 10,545 2,563 1,157 2,558 2,538 7,604 Collateral for F. R. notes: Gold certificate account 2,415 2 50 350 350 605 700 155 5 U. S. Government securities 63,690 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 66,105 3,360 16,450 4,050 5,200 5,725 3,600 10,800 2,635 1,200 2,600 2,585 7,900 U After deducting $189 million participations of other Federal Reserve Banks. * Estimated (Boston, Cleveland and Richmond Districts), 2/ After deducting $ 383 million participations of other Federal Reserve Banks. 3/ Includes $22 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