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 September 20, 1973 The average of daily figures for total reserves of member banks increased $407 million in the latest statement week to $33,879 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. An increase in Treasury deposits with Federal Reserve Banks absorbed a substantial amount of reserves. More than offsetting this reserve drain was an increase in float and a decline in currency in circulation. In addition, System Open Market operations provided $356 million of reserves on a weekly average basis. Member bank borrow ings from Federal Reserve Banks increased $220 million from the previous week to an average level of $1,707 million. Averages of dally figures Member hank reserves. Week ended Change from week ended Wednesday, Reserve Rank credit., Sept. 19, Sept. 12, Sept. 20, Sept. 19, and related items 1973 * 1973 1972 1973 * Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 73,381 + 494 44,738 1/2/73,253 Held under repurchase agreements — - 116 - 69 — Special Certificates 137 + 6 + 137 1 Federal Agency obligations-- Bought outright 1,567 15 4- 526 1,567 Held under' repurchase agreements -- 7 -- mm Acceptances — Bought outright 37 3 18 36 Held under repurchase agreements — - 3 5 — Loans-- Total member bank borrowing 1,707 + 220 + 990 2,286 Includes seasonal borrowing of: 139 - 6 4- 139 140 Other borrowing Float 3,828 4- 478 - 309 4,398 Other F.R. assets 901 4--J6Z ± 1 250. Total Reserve Bank credit 81,558 +1, 121 4-5,992 82,490 Gold stock 10,410 -- -- 10,410 Special Drawing Rights certif. acct. 400 -- — 400 Treasury currency outstanding 8.586 + -12 + 398 8,590 100,954 +1, 133 +6,390 101,890 Currency in circulation 68,716 - 239 4-5,729 68,663 Treasury cash holdings 343 4- 3 4- 24 358 Treasury deposits with F.R. Banks 354 + 352 - 321 1,105 Foreign deposits with F.R. Banks 364 4- 28 4- 175 411 Other deposits with F.R. Banks u/ 859 4- 101 4- 188 1,010 Other F.R. liabilities and capital 2,759 + 98 4- 607 2,782 73,396 + 344 4-6,403 74,329 Member bank reserves: With Federal Reserve Banks 27,559 4- 790 12 27,562 Currency and coin 6,208 - 383 4- 762 6,208 Total reserves heldjV 33,879 4- 407 4- 862 33,882 Required reserves 33,718 + 306 4- 907 33,718 Excess reserves 3/ 161 + 101 45 164 NOTE: A net of $27 million of surplus reserves were eligible to be carried forward from the week ended September 12, into the week ending September 19. On September 19, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,262 million, an increase of $2 million for the week. 1/ Excludes 51,41.0 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $174 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 $26 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 (Cleveland 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 Sept. 19 Sept. 12 Sept. 20, 1973 * 1973 1972 A S S E TS Gold certificate account 10,303 -- -- Special Drawing Rights certif. accts. • 400 -- — Cash (1,344) 305 + 6 - 28 Loans 2,286 +1,007 + 533 Acceptances—Bought outright 36 2 - 21 Held under repurchase agreements Federal Agency obligations—Bought outright 1,567 + 526 Held under repurchase agreements U.S. Government securities: Bought outright—Bills 32,451 18 +3,310 Certificates - Special 169 Other Notes 37,374 + 671 Bonds 3,428 - 83 Total bought outright 1/2/ 73,253 - 187 +3 ,898 Held under repurchase agreements -- -- Total U.S. Government securities 73.253 - 187 +3 ,898 Total loans and securities 77,142 + 818 +4 ,936 Cash item8 in process of collection (1,870) 10,960 +1 ,124 -2, 242 Bank premises 210 + 44 Other assets 3/ 740 + 85 - 64 TOTAL ASSETS (3,214) 100,060 +2 ,033 +2 ,646 L 1 A 1 I L I I I £S Federal Reserve notes "" (1,344) 60,628 - 405 +5,295 Deposits: Member bank-reserves account 27,482 + 227 -1,784 U. S. Treasurer—general account 1,105 +1,103 + 147 Foreign 411 + 134 + 217 Other kj 1.010 + 234 + 453 Total deposits 30,008 +1,698 - 967 Deferred availability cash Items (1,870) 6,642 + 645 -2,303 Other liabilities and accrued dividends 887 + 12 + 357 TOTAL LIABILITIES (3,214) 98,165 +1,950 +2,382 £. ±L± 1 hk A C C O U N T S. CapitaT ^aTd""in 828 —— + 50 Surplus 793 -- + 51 Other capital accounts 274 + 83 + 163 Contingent liability on acceptances purchased for foreign correspondents 551 + 17 + 280 * Figures in parentheses are the eliminations made in the consolidating process. U Excludes $1,410 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $174 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $26 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 (Cleveland District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES. SEPTEMBER 19, 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 2,204 29 3,871 -1,343 1 + 1 16 days to 90 days 82 7 18,368 +1,874 92 — 91 days to 1 year — 17,783 - 718 301 - 1 Over 1 year to 5 years — 22,171 — 615 -- Over 5 years to 10 years -- 9,358 24? Over 10 years -- l_i.702_ -- 211 -- Total 2,286 36 73,253 187 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.Hb) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 19, 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 10,303 702 150 453 889 957 528 2,723 411 200 426 374 2,490 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,344 168 293 52 48 111 211 65 32 28 42 80 214 Other cash 305 16 24 5 33 35 40 35 19 7 37 14 40 Loans 2,286 75 786 69 67 267 184 327 39 53 177 185 57 Acceptances: Bought outright 36 — 36 -- -- -- -- -_ -- __ »_ „_ .„ Held under repurchase agreements Federal Agency obligations-- Bought outright 1,567 71 426 85 117 111 80 254 57 27 60 66 213 Held under repurchase agreements U.S. Government securities: Bought outright-- Bills 32,451 1,477 8,820 1,754 2,421 2,298 1,658 5,259 1,174 567 1,239 1,362 4,422 Certificates: Other Notes 37,374 1,701 10,158 2,019 2,788 2,647 1,909 6,056 1,353 653 1,427 1,569 5,094 Bonds 3,428 156 932 185 256 243 175 556 124 60 131 143 467 Total bought outright .1/2/ 73,253 3,334 19,910 3,958 5,465 5,188 3,742 11,871 2,651 1,280 2,797 3,074 9,983 Held under repurchase agreements Total U.S. Government securities 73,253 3,334 19^910 3,958 5,465 5,188 3,742 11,871 2,651 .1,280 2,797 3,074 9,983 Total loans and securities 77,142 3,480 21,158 4,112 5,649 5,566 4,006 12,452 2,747 1,360 3,034 3,325 10,253 Cash items in process of collection 12,830 456 2,717 855 639 1,383 1,116 1,688 508 658 785 649 1,376 Bank premises 210 38 7 8 27 14 15 16 14 34 17 12 8 Other assets 3/ 740 30 194 43 50 49 46 101 23 17 24 28 135 TOTAL ASSETS 103,274 4,913 24,636 5,551 7,368 8,151 5,984 17,150 3,769 2,311 4,380 4,496 14,565 1/ Excludes $1,410 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $174 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Estimated (Cleveland Distritct). 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 SEPTEMBER 19, 1973 _____________ ————— New Phila Cleve Rich St. Minne San I Total Boston York delphia land * mond Atlanta Chicago Louis apolis Kansas Dallas Fran City cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 61,972 3,144 15,423 3,824 4,942 5,479 3,160 10,396 2,429 1,108 2,425 2,359 7,283 Deposits: Member bank reserves 27,482 1,140 6,372 1,074 1,492 1,255 1,703 4,783 770 652 1,047 1,401 5,793 U. S. Treasurer—general account 1,105 70 157 82 71 163 106 60 59 25 84 77 151 Foreign 411 18 1/ 100 21 38 22 29 66 14 10 18 23 52 Other 3/ 1,010 3 651 16 3 29 10 237 4 2 7 28 20 Total deposits 30,008 1,231 7,280 1,193 1,604 1,469 1,848 5,146 847 689 1,156 1,529 6,016 Deferred availability cash items 8,512 420 1,210 392 595 1,035 793 1,171 398 451 688 472 887 Other liabilities and accrtt ed dividends 887 40 236 45 65 60 50 137 31 20 33 36 134 TOTAL LIABILITIES 101,379 4,835 24,149 5,454 7,206 8,043 5,851 16,850 3,705 2,268 4,302 4,396 14,320 CAPITAL ACCOUNTS Capital paid in 828 33 209 41 74 46 61 130 28 20 35 45 106 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 274 11 71 17 16 20 17 46 9 5 10 1? 40 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 103,274 4,913 24,636 5,551 7,368 8,151 5,984 17,150_ 3,769 __2,311_ 4,380 4,496, 14,565 Contingent liability on acee ptances purchased for forei correspondents 551 23 2/144 27 50 29 38 86 19 UL 21_ 2IL 69 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 65,014 3,337 16,373 3,885 5,123 5,694 3,428 10,643 2,560 1,153 2,576 2,537 7,705 Collateral for F. R. notes: Gold certificate account 2,415 175 350 350 680 700 155 5 U. S. Government securities 64,025 3,185 16,650 3,700 4,850 5,080 3,600 10.100 2.480 1,200 2,700 2,580 7.900 Total collateral 66,440 3,360 16,650 4,050 5,200 5,760 3,600 10,800 2,635 1,200 2,700 2,585 7,900 1/ After deHnr.tine $311 million participations of other Federal Reserve Banks. * Estimated (Cleveland District), 2/ After deducting $ 407 million participations of other Federal Reserve Banks. 3/ Includes $26 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