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 October 4, 1973 The average of daily figures for total reserves of member banks increased $489 million in the latest statement week to $34,625 million. Required reserves and excess reserves increased while member bank borrowing at Federal Reserve Banks declined. An increase in Treasury deposits with Federal Reserve Banks was the major factor absorbing reserves in the latest statement week. Partially offsetting this reserve drain was a decline in foreign deposits with Federal Reserve Banks. In addition, System Open Market Operations provided $1,491 million reserves net, on a weekly average basis, through outright purchases of Treasury bills and repurchase agreements. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, October 3, Sept . 26, Oct. 4, October 3, and related items 1973 1973 1972 1973 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 74,936 + 216 +5,030 1/75,091 Held under repurchase agreements 1,188 +1 ,018 + 804 1,753 Federal Agency obligations-- Bought outright 1,567 «._ + 534 1,566 Held under repurchase agreements 226 + 184 + 199 356 Acceptances — Bought outright 39 + 2 - 24 40 Held under repurchase agreements 95 + 71 + 67 99 Loans — Total member bank borrowing 1,519 - 672 +1,083 1,206 Includes seasonal borrowing of: 144 - 6 + 144 152 Other borrowing Float 2,507 „ 59 - 953 3,401 Other F.R. assets 990 + 48 - 78 1,028 Total Reserve Bank credit 83,066 + 807 +6,660 84,540 Gold stock 10,410 -- -- 10,410 Special Drawing Rights certif. acct. 400 -- — 400 Treasury currency outstanding 8,598 + 6 + 400 8,599 102,474 + 813 +7,059 103,949 Currency in circulation 68,366 + 23 +5,609 68,703 Treasury cash holdings 371 + 16 + 15 367 Treasury deposits with F.R. Banks 1,771 + 445 + 465 1,594 Foreign deposits with F.R. Banks 252 - 121 + 60 239 Other deposits with F.R. Banks 3/ 713 - 33 + 50 612 Other F.R. liabilities and capital 2,972 + 97 + 694 3,101 74,445 + 427 +6,893 74,616 Member bank reserves: With Federal Reserve Banks 28,029 + 386 + 166 29,333 Currency and coin 6,512 + 131 + 644 6,512 Total reserves held 2/ 34,625 + 489 + 894 35,929 Required reserves 34,226 + 158 + 725 1 34,226 Excess reserves 2/ '399 + 331 + 169 1,703 NOTE: A net of $47 million of surplus reserves were eligible to be carried forward from the week ended September 26, into the week ending October 3. On October 3, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,247 million, a decrease of $257 million for the week. 1/ Includes $87 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Adjusted to include $84 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. 3/ Includes $26 million of certain deposits of domestic non-member banks and foreignowned 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

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Cfeange since October 3, Sept. 26, October 4, 1973 1973 1972 A SS E^T S. Gold certificate account 10,303 -- -- Special Drawing Rights certif. accts. * 400 -- — Cash (1,230) 307 + 2 - 30 Loans 1,206 -3,314 + 112 Acceptances—Bought outright 40 + 2 - 26 Held under repurchase agreements 99 + 80 - 12 Federal Agency obligations--Bought outright 1,566 1 + 544 Held under repurchase agreements 356 + 248 + 262 U.S. Government securities: Bought outright—Bills 34,289 + 312 +4,535 Certificates - Other Notes 37,374 -- + 671 Bonds 3,428 — - 83 Total bought outright \J 75,091 + 312 +5,123 Held under repurchase agreements 1,753 +1,238 + 578 Total U.S. Government securities 76,844 +1,550 +5.701 Total loans and securities 80,111 -1,435 +6,581 Cash items in process of collection (1,631) 9,454 + 666 -3,099 Bank premises 213 + 1 + 46 Other assets 2/ 815 + 31 - 108 TOTAL ASSETS (2,861) 101,603 - 735 +3,390 L I A B I LI TIES Federal Reserve notes "" (1,230) 60,671 + 244 +5,204 Deposits: Member bank-reserves account 29,253 -1,616 - 306 U. S. Treasurer—general account 1,594 + 469 + 325 Foreign 239 - 220 + 69 Other 3/ (4) 612 - 58 - 52 TotaT deposits (4) 31,698 -1,425 + 36 Deferred availability cash items (1,627) 6,133 + 290 -2,614 Other liabilities and accrued dividends 1.409 + 460 + 819 TOTAL LIABILITIES (2,861) 99,911 - 431 +3,445 S A I I 1 AL A £ C 0 U N T £ Capital paid in "" 832 + 3 + 53 Surplus 793 — + 51 Other capital accounts 67 - 307 - 159 Contingent liability on acceptances purchased for foreign correspondents 546 — + 293 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $87 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2,/ Includes assets denominated in foreign currencies. 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. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. OCTOBER 3, 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 1,116 110 6,734 +1,506 356 +248 16 days to 90 days 90 29 18,294 - 32 92 91 days to 1 year 18,608 + 99 301 - 1 Over 1 year to 5 years 22,148 - 23 615 Over 5 years to 10 years 9,358 — 347 Over 10 years -- -- 1,702 — 211 ~ Total 1,206 139 •76,844 +1,550 1,922 +247 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 OCTOBER 3, 1973 New Phila Cleve Rich St. Minne Kansas San Total I Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Franci sco (In millions of dollars) A S S E TS Gold certificate account 10,303 382 46 724 602 1,054 372 2,410 310 176 43 422 3,762 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,230 173 307 32 50 102 172 61 29 29 38 78 159 Other cash 307 16 24 4 32 35 41 37 20 7 36 14 41 Loans 1,206 86 93 79 96 107 154 218 58 25 154 75 61 Acceptances: Bought outright 40 — 40 — — — — — — — -- — — Held under repurchase agreements 99 — 99 — — — — — — — — — — Federal Agency obligations-- , . Bought outright 1,566 71 418 85 119 112 84 249 57 29 66 66 210 Held under repurchase agreements 356 -- 356 — — — -- — — — — — — U.S. Government securities: Bought outright-- Bills 34,289 1,558 9,159 1,871 2,603 2,447 1,845 5,442 1,243 645 1 ,448 1 ,440 4,588 Certificates: Other Notes 37,374 1,699 9,983 2,038 2,838 2,668 2,010 5,932 1,354 703 1 ,578 1 ,569 5,002 Bond s 3.428 156 916 187 260 245 184 544 124 64 145 144 459 Total bought outright 1/ 75,091 3,413 20,058 4,096 5,701 5,360 4,039 11,918 2,721 1,412 T, 171 ~T, 153 10,049 Held under repurchase agreements 1,753 — 1.753 -- — — -- -- -- -- — — -- Total U.S. Government securities 76,844 3,413 21,811 4,096 5,701 5,360 4,039 11,918 2,721 1,412 T, 171 T ,153 10,049 Total loans and securities »U,111 3,570 22,817 4,260 5,916 5,579 4,277 12,385 2,836 1,466 "T 7391 ~T ,294 10,320 Cash items in process of collection 11,085 404 1,921 437 468 1,674 1,095 1,485 430 587 774 593 1,217 Bank premises 213 40 7 9 27 14 15 16 14 34 17 12 8 Other assets 2/ 815 34 214 41 55 96 42 113 26 18 31 31 114 TOTAL ASSETS 104,464 4,642 25,429 5,530 7,183 8,590 6,036 16,577 3,680 2,324 4 ,345 4 ,458 15,670 1/ Includes $87 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 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 OCTOBER 3, 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 61,901 3,130 15,419 3,829 4,927 5,513 3,165 10,392 2,432 1,107 2,416 2,358 7,213 Deposits: Member bank reserves 29,253 906 7,151 1,117 1,531 1,313 1,865 4,464 722 622 1,070 1,391 7,101 U. S. Treasurer—general account 1,594 113 367 87 98 211 57 102 83 72 91 98 215 Foreign 239 10 1/ 58 12 22 13 17 39 8 6 10 13 31 Other 3/ 616 3 493 17 2 28 15 25 3 3 5 6 16 Total deposits 31,702 1,032 8,069 1,233 1,653 1,565 1,954 4,630 816 703 1,176 1,508 7,363 Deferred availability cash items 7,760 369 1,199 335 385 929 741 1,151 342 452 643 462 752 Other liabilities and accrvt ed dividends 1.409 42 311 49 68 489 ST T*9 32 22 39 38 127 TOTAL LIABILITIES 102,772 4,573 24,998 5,446 7,033 8,496 5,913 16,312 3,622 2,284 4,274 4,366 15,455 CAPITAL ACCOUNTS Capital paid in 832 34 211 41 74 46 61 130 28 20 35 46 106 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 67 1 13 4 4 6 7 11 3 2 3 3 10 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 104,464 4,642 25,429 5,530 7,183 8,590 6,036 16^577 3^680 2^324 4,345 4,458 15.670 Contingent liability on acee ptances purchased for foreig n correspondents 546 23 2/143 27 50 28 38 86 19 12 23 29 68 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 64,937 3,307 16,384 3,882 5,125 5,703 3,426 10,616 2,558 1,146 2,572 2,519 7,699 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 deducting $ 181 million participations of other Federal Reserve Banks. 2/ After deducting $ 403 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