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 November 15, 1973 The average of daily figures for total reserves of member banks increased $156 million in the latest statement week to $34,728 million. Required reserves and member bank borrowings at Federal Reserve Banks increased while excess reserves declined. An increase in float and a reduction in Treasury deposits with Federal Reserve Banks were the major factors supplying reserves in the latest week. Offsetting these reserve gains were increases in currency in circulation and foreign deposits with Federal Reserve Banks. In addition, System Open Market Operations absorbed $848 million reserves net, on a weekly average basis, primarily through matched sale-purchase transactions made early in the statement week. Reserves were provided later in the 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, Nov. 14, Nov. 7, Nov. 15, Nov. 14, and related items 1973 1973 1972 1973 * Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright--System account 75,128 -1,140 +5,294 1/2/75,667 Held under repurchase agreements 259 + 259 - 63 "" 1,812 Federal Agency obligations-- Bought outright 1,739 728 1,739 Held under repurchase agreements 28 28 23 199 Acceptances-- Bought outright 43 5 24 39 Held under repurchase agreements 10 10 33 67 Loans-- Total member bank borrowing 1,521 351 +1 =02 7 3,991 Includes seasonal borrowing of: 80 13 + 80 70 Other borrowing Float 2,525 384 128 2,546 Other F.R. assets 1,378 97 25 1,374 Total Reserve Bank credit 82,632 16 +7,104 87,434 Gold stock 11,567 +1,157 11,567 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 8,629 356 8,630 103,229 12 +8,618 108,031 Currency in circulation 69,834 773 +5,363 70,156 Treasury cash holdings 338 26 - 45 343 Treasury deposits with F.R. Banks 1,120 967 61 1,530 Foreign deposits with F.R. Banks 580 248 391 552 Other deposits with F.R. Banks 4/ 696 34 96 693 Other F.R. liabilities and capital 2,738 12 459 2,807 75,306 74 +6,203 76,081 Member bank reserves: With Federal Reserve Banks 27,924 85 +2,416 31,950 Currency and coin 6,720 241 + 546 6,720 Total reserves held 3/ 34,728 + 156 +2,596 38,754 Required reserves 34,707 + 337 +3,361 34,707 Excess reserves 3/ 21 - 181 - 765 4,047 NOTE: A net of $186 million of surplus reserves were eligible to be carried forward from the week ended November 7, into the week ending November 14. On November 14, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $26,818 million, a decrease of $90 million for the week. 1/ Excludes $485 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $111 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 $49 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 (Richmond 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 Nov. 14,** Nov. 7, Nov.15, 1973 1973 1972 A S S E TS Gold certificate account 11,460 -- + 1,157 Special Drawing Rights certif. accts. * 400 — — Cash 928) 308 3 19 Loans 3,991 +3,152 + 3,861 Acceptances—Bought outright 39 8 23 Held under repurchase agreements 67 + 67 + 67 Federal Agency obligations—Bought outright 1,739 — + 728 Held under repurchase agreements 199 + 199 + 199 U.S. Government securities: Bought outright--Bills 34,865 + 199 + 7,028 Certificates - Other Notes 37,374 693 Bonds 3,428 170 Total bought outright 1/ 2/ 75,667 + 199 + 7,551 Held under repurchase agreements 1,812 +1,812 + 1,812 Total U.S. Government securities 77,479 +2,011 + 9,363 Total loans and securities 83,514 +5,421 +14,195 Cash items in process of collection (1,814) 8,840 + 676 - 2,128 Bank premises 218 1 + 50 Other assets 3/ LJ.56 + 60 + 266 TOTAL ASSETS (2,742) 105,896 +6,153 +13,521 L I A B I L I T I ES Federal Reserve notes ( 928) 62,070 + 513 + 4,960 Deposits: Member bank-reserves account 31,870 +4,626 + 8,757 U. S. Treasurer—general account 1,530 - 27 + 7 Foreign 552 + 139 + 338 Other jty ( 5) 693 + 39 + 73 Total deposits ( 5) 34, 645 44 ,777 + 9,175 Deferred availability cash items (1,809) 6 ,374 + 735 - 1,130 Other liabilities and accrued dividends 957 + 41 + 376 TOTAL LIABILITIES (2,742) 104,046 +6,066 +13,381 £ A L I 1 A L. ACCOUNTS Capital paid in 832 2 + 49 Surplus 793 -- + 51 Other capital accounts 225 + 89 + 40 Contingent liability on acceptances purchased for foreign correspondents 600 + 4 + 399 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $485 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. II Includes $111 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. 4/ Includes $49 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 (Richmond District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 14. 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 3,942 76 8,086 +4,482 202 +202 16 days to 90 days 49 30 17,805 -1,650 161 - 3 91 days to 1 year 18,380 - 821 252 Over 1 year to 5 years 22,148 — 671 Over 5 years to 10 years 9,358 — 425 Over 10 years 1,702 — 227 — Total 3,991 106 77,479 +2,011 1,938 +199 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 NOVEMBER 14, 1973 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond* Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S. S. E T j> Gold certificate account 11,460 1,085 490 878 878 1,412 398 2,185 439 297 402 426 2,570 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 928 129 214 22 30 60 138 55 23 16 41 74 126 Other cash 308 18 24 3 35 33 42 36 21 10 34 16 36 Loans 3,991 105 1,678 100 218 66 180 819 63 91 123 44 504 Acceptances: Bought outright 39 39 Held under repurchase agreements 67 67 Federal Agency obligations-- Bought outright 1,739 77 471 91 131 122 94 278 60 33 66 75 241 Held under repurchase agreements 199 199 U.S. Government securities: Bought outright-- Bills 34,865 1,547 9,434 1,816 2,619 2,452 1,885 5,577 1,208 658 1,332 1,505 4,832 Certificates: Other Notes 37,374 1,659 10,112 1,946 2,808 2,629 2,021 5,978 1,295 705 1,427 1,614 5,180 Bonds 3,428 152 927 179 258 241 185 548 119 65 131 148 475 Total bought outright \j 2/ 75,667 3,358 20,473 3,941 5,685 5,322 4,091 12,103 2,622 1,428 2,890 3,267 10,487 Held under repurchase agreements 1,812 1,812 Total U.S. Government securities 77,479 3,358 22,285 3,941 5,685 5 r 322 4,091 12,im 2,622 1,428 2,890 %267 10,437 Total loans and securities 83,514 3,540 24,739 4,132 6,034 5,510 4,365 13,200 2,745 1,552 3,079 3,386 11,232 Cash items in process of collection Bank premises 10, 2 6 1 5 8 4 40 4 ? 1 1,64 1 3 0 56 1 9 0 49 2 2 7 79 1 0 4 1,29 1 0 5 1,57 1 7 6 65 1 1 4 57 3 5 4 7 1 4 7 4 80 1 7 2 1,10 8 9 Other assets y 1,156 50 313 70 78 87 62 165 38 23 42 44 184 TOTAL ASSETS 108,638 5,293 27,526 5,707 7,607 7,942 6,332 17,304 3,946 2,514 4,374 4,779 15,314 1/ Excludes $485 million of securities sold, and scheduled to bought back, under matched sale-purchase transactions. 2/ Includes $111 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks, 3/ Includes assets denominated in foreign currencies. * Estimated (Richmond 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 NOVEMBER 14, 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 62,998 3,152 15,601 3,963 5,052 5,626 3,310 10,569 2,489 1,123 2,448 2,385 7,280 Deposits: Member bank reserves 31,870 1,447 8,876 1,017 1,769 1,353 1,869 4,761 830 789 1,016 1,505 6,638 U. S. Treasurer—general account 1,530 160 352 47 105 118 113 133 51 38 70 103 240 Foreign 552 22 1/164 26 48 27 37 82 18 12 22 28 66 Other 3/ 698 7 565 19 2 20 17 30 2 3 5__ Z_ 21 Total deposits 34,650 1,636 9,957 1,109 1,924 1,518 2,036 5,006 901 842 1,113 1,643 6,965 Deferred availability cash items 8,183 389 1,206 497 402 632 792 1,296 464 486 703 615 701 Other liabilities and accnl ed dividends 957 39 288 45 67 61 62 142 30 21 34 no TOTAL LIABILITIES 106,788 5,216 27,052 5,614 7,445 7,837 6,200 17,013 3,884 2,472 4,298 4,681 15,076 CAPITAL ACCOUNTS Capital paid in 832 34 211 42 74 47 61 130 28 20 35 45 105 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 225 9 56 12 16 16 16 37 7 4 8 10 34 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 108,638 5,293 27,526 5,707 7,607 7,942 6,332 17,304 3,946 2,514 4,374 4,779 15,314 Contingent liability on acer eptances purchased for fored- gn correspondents 600 25 2/157 30 55 31 42 3L- JSL 1A_. 23..... 32_ 7^ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,309 16,309 4,023 5,206 5,780 3,516 10,765 2,605 1,164 2,580 2,530 7,739 Collateral for F. R. notes: Gold certificate account 175 — 350 350 680 — 700 155 — — 5 U. S. Government securities 3,185 16,650 3,800 5,000 5,145 3.600 10.400 2,520 1,200 7,700 2,580 7,900 Total collateral 3,360 16,650 4,150 5,350 5,825 3,600 11,100 2,675 1,200 2,700 2,585 7,900 \J After deducting $388 million participations of other Federal Reserve Banks. 2_/ After deducting $443 million participation of other Federal Reserve Banks. 3/ Includes $49 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 (Richmond District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis