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 11, 1973 The average of daily figures for total reserves of member banks increased slightly in the latest statement week to $34,672 million. Required reserves increased while excess reserves and 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 providing reserves in the latest state ment week. Partially offsetting these reserve gains was an increase in currency in circulation. In addition, System Open Market Operations absorbed $559 million reserves net, on a weekly average basis, primarily through matched sale-purchase transactions and maturing repurchase agreements made in the previous week. Some reserves were supplied early in the statement week through outright purchases of Treasury bills and repurchase agreements. Averages of daily figures Member Dank reserves, Week ended Change from week ended(Wednesday, Reserve Bank credit, October 10, October 3, October 11 October 10, y and related items 1973 * 1973 1972 1973 * Reserve Bank credit: (In mi Llions of dollars) U.S. Government securities-- Bought outright~-System account 74,774 - 162 +4,248 1/2/72,216 Held under repurchase agreements 753 - 435 + 638 -- Federal Agency obligations-- Bought outright 1,586 + 19 + 564 1,586 Held under repurchase agreements 263 + 37 + 243 -- Acceptances-- Bought outright 44 + 5 - 26 43 Held under repurchase agreements 72 - 23 + 47 -- Loans-- Total member bank borrowing 1,355 _ 164 + 820 693 Includes seasonal borrowing of: 131 - 13 + 131 93 Other borrowing Float 2,969 + 425 - 718 4,372 Other F.R. assets 1,040 + 50 - 80 1,105 Total Reserve Bank credit 82,856 - 247 +5,735 80,015 Gold stock 10,410 -- -- 10,410 Special Drawing Rights certif. acct. 400 — -- 400 Treasury currency outstanding 8,599 + 1 + 377 8,599 102,265 - 246 +6,113 99,424 Currency in circulation 68,880 + 514 +5,548 69,289 Treasury cash holdings 350 - 21 7 355 Treasury deposits with F.R. Banks 1,362 - 409 - 155 2,638 Foreign deposits with F.R. Banks 270 + 18 + 78 265 Other deposits with F.R. Banks 4/ 682 - 31 + 18 654 Other F.R. liabilities and capital 2,736 - 236 + 405 2,744 74,280 - 165 +5,888 75,945 Member bank reserves: With Federal Reserve Banks 27,986 - 80 + 226 23,479 Currency and coin 6,602 + 90 + 652 6,602 Total reserves held 3»/ 34,672 ~ -TO + 962 3U,lbb Required reserves 34,384 + 158 +1,032 34,384 Excess reserves 3/ 288 148 70 4,219 NOTE A net of $222 million of surplus reserves were eligible to be carried forward from the week ended October 3, into the week ending October 10. On October 10, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,237 million, a decrease of $10 million for the week. V Excludes $3,460 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $74 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ 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. 4/ Includes $30 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, Dalllas and1 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 Oct. 10, ** Oct- . 3, Oct. 11, 1973 1973 1972 A S S E TS Gold certificate account 10,303 .. _ Special Drawing Rights certif. accts. * 400 — -- Cash (1, 112) 310 + 3 - 24 Loans 693 - 513 + 305 Acceptances — Bought outright 43 + 3 - 26 Held under repurchase agreements — - 99 — Federal Agency obligations—Bought outright 1,586 + 20 + 564 Held under repurchase agreements — - 356 — U.S. Government securities: Bought outright--Bills 31,414 •2,875 +1,218 Certificates - Special Other Notes 37,374 -- + 642 Bonds 3,428 -- - 170 Total bought outright 1/2/ 72,216 -2,875 +1,690 Held under repurchase agreements -- -1,753 -- Total U.S. Government securities 72,216 -4,628 +1,690 Total loans and securities 74,538 -5,573 +2,533 Cash items in process of collection (1 ,484) 11,347 +1,800 - 871 Bank premises 213 — + 45 Other assets ^J 892 + 77 - 134 TOTAL ASSETS (2 ,596) 98,003 -3,693 +1,549 L I A B I L I T I ES Federal Reserve notes (1,112) 61,248 + 577 +5,116 Deposits: Member bank-reserves account 23,399 -5,947 -3,853 U. S. Treasurer—general account 2,638 +1,044 +1,174 Foreign 265 + 26 + 52 Other 4/ 654 + 42 + 80 Total deposits 26,956 -4,835 -2,547 Deferred availability cash items (1,484) 7,055 + 922 -1,517 Other liabilities and accrued dividends 953 - 456 + 369 TOTAL LIABILITIES (2,596) 96,212 -3,792 +1,421 £ £ P i: T A L A C C O U N TS Capital paid in 831 1 + 52 Surplus 793 — + 51 Other capital accounts 167 + 100 + 25 Contingent liability on acceptances purchased for foreign correspondents 538 - 8 + 297 * Figures in parentheses are the eliminations made in the consolidating process. XI Excludes $3,460 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 1/ Includes $74 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 1/ Includes assets denominated in foreign currencies. 4/ Includes $30 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, Dallas, and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 10. 1973 (Acceptances and securities held under repurchase agreements; are classified as maturing within 15 days in accordance with maximum maturi^7 of the agreements.) U.S. Go^/ eminent Federal Agency Loans Accept securjL ties obligations ances Holdings Weekly Holdings Weekly changes Changes Within Xb clays 632 18 3,759 -2,975 4 -352 16 days to 90 days 61 25 16,382 -1,912 106 + 14 91 days to 1 year 18,867 + 259 293 - 8 Over 1 year to 5 years 22,148 ..- 625 + 10 Over 5 years to 10 years 9,358 — 347 -- Over 10 years 1,702 ..- 211 -- Total 693 43 72,216 -4,628 1,586 -336 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 OCTOBER 10, 1973 New Phila Cleve Rich St. Minne Kansas * San * Total Boston York delphia land * mond Atlanta Chicago Louis apolis City Dal ias Francisco 0 '.n millions of dollars) A S S E TS Gold certificate account 10,303 490 2,014 707 910 1,106 281 2,357 492 289 128 403 1,126 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,112 156 275 22 52 78 165 68 22 23 38 79 134 Other cash 310 15 24 4 35 34 40 38 19 9 36 15 41 Loans 693 17 14 33 37 24 154 131 15 15 80 99 74 Acceptances: Bought outright 43 -- 43 — -- -- -- -- -- -"- — — — Held under repurchase agreements — — — — — -- — -- — .. — — -- Federal Agency obligations-- Bought outright 1,586 72 424 87 120 113 85 252 57 30 67 67 212 Held under repurchase agreements -- — — -- — — — — -- — — -- — U.S. Government securities: Bought outright-- Bills 31,414 1,427 8,392 1,714 2,385 2,242 1,690 4,985 1,139 591 1,326 1 ,320 4,203 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 Bonds 3-428 156 916 iaz__ 260 245 184 544 124 64 145 144 459 Total bought outright 1/2/ 72,216 3,282 19,291 3,939 5,483 5,155 3,884 11,461 2,617 1,358 3,049 T, 033 9"m Held under repurchase agreements -.- -- — -- — — — -- -- -- -- -- Total U.S. Government securities 72,216 3,232 19,291 3.939 5.483 5,155 3,884 11,461 2,617 1,358 3,049 J, 033 9,664 Total loans and securities 74,538 3,371 19,772 4,059 5,640 5,292 4 123 11,844 2.689 1,403 3,196 3 ,199 9,950 S Cash items in process of collection 12,831 422 3,138 584 651 1,222 1,135 1,613 439 501 801 761 1,564 Bank premises 1 213 40 7 9 27 14 15 16 14 34 17 12 8 Other assets 3/ 892 38 230 53 65 64 49 124 28 28 43 35 135 TOTAL ASSETS 100,599 4,555 25,553 5,461 7,413 7,846 5,830 16,130 3,718 2,294 4,274 4 ,518 13,007 \J Excludes $3,460 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $74 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Estimated (Cleveland, Dallas and San Francisco 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 OCTOBER 10, 1973 New Phila Cleve-* Rich St. Minne Kansas * San * i 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 62,360 3,144 15,496 3,866 4,965 5,552 3,216 10,484 2,451 1,114 2,434 2,380 7,258 Deposits: Member bank reserves 23,399 780 6,595 966 1,517 1,013 1,555 3,860 719 532 969 1,314 3,579 U. S. Treasurer—general account 2,638 111 801 62 140 205 127 183 104 189 124 117 475 Foreign 265 10 1/ 87 12 22 12 17 38 8 6 10 13 30 Other 3/ 654 4 538 15 1 28 10 28 2 5 4 6 13 Total rieposits 26,956 905 8,021 1,055 1,680 1,258 1,709 4,109 833 732 1,107 1,450 4,097 Deferred availability cash items 8,539 391 1,339 402 540 873 714 1,119 341 384 624 553 1,259 Other liabilities and accrued dividends 953 42 238 49 70 62 63 138 32 22 34 38 165 TOTAL LIABILITIES 98,808 4,482 25,094 5,372 7,255 7,745 5,702 15,850 3,657 2,252 4,199 4,421 12,779 CAPITAL ACCOUNTS Capital paid in 831 33 211 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 167 6 41 9 12 13 12 26 6 4 7 8 23 TOTAL LIABILITIES AND CAPITAL ACCOUNTS lQo^sas. 4,555 25.553 5.461 7,413 7.846 5,830 16.130 3,718 2.294 4.274 4,518 13.QQ7 Contingent liability on acee ptances purchased for foreign correspondents 538 23 2./140 26 49 28 3.8.,_. fii. -IB- .11. 23 29 v7 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 65,074 3,303 16,408 3,920 5,140 5,706 3,429 10,649 2,571 1,149 2,573 2,515 7,711 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 lQ.jQQ 2.480 1,200 2.7QQ 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 $ 178 million participations of other Federal Reserve Banks. — * Estimated (Cleveland, Dallas and San Francisco Districts), 2/ After deducting $ 398 million participations of other Federal Reserve Banks. 3/ Includes $30 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