H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and firsts?: Condition Statement of F.R. Banks H.4.1 For immediate release November 23, 1973 The average of daily figures for total reserves of member banks increased $232 million in the latest statement week to $34,960 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. Major factors absorbing reserves in the latest statement week were a decline in other Federal Reserve assets and increases in currency in circulation, Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital. Reserves were provided by an increase in float. In addition, System Open Market Operations provided $2,561 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, Nov. 21, * Nov. 14, Ncv' . 22, Nov. 21, and related items 1973 1973 1972 1973 * Reserve Bank credit: (Ir1 millions of dcl iars) U.S. Government securities-- Bought outright—System account 76,612 +1 ,484 + 7,006 1/76,652 Held under repurchase agreements 1,152 + 893 + 942 2,098 Federal Agency obligations-- Bought outright 1,753 + 14 + 718 1,789 Held under repurchase agreements 175 + 147 + 146 323 Acceptances — Bought outright 41 - 2 - 21 41 Held under repurchase agreements 35 + 25 + 2 77 Loans — Total member bank borrowing 1,569 + 48 + 1,150 1,387 Includes seasonal borrowing of: 85 + 5 + 85 86 Other borrowing Float 2,739 -*-213 - 64 3,450 Other F.R. assets 821 - 557 - 137 823 Total Reserve Bank credit 84,898 +2 ,265 + 9,743 86,640 Gold stock 11,567 — + 1,157 11,567 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 8,650 + 21 + 368 8,656 105,515 +2 ,286 +11,269 107,263 Currency in circulation 70,180 + 346 + 5,374 70,511 Treasury cash holdings 333 - 5 - 41 333 Treasury deposits with F.R. Banks 1,946 + 826 + 750 1,404 Foreign deposits with F.R. Banks 557 - 23 + 359 759 Other deposits with F.R. Banks 3/ 723 + 27 + 128 671 Other F.R. liabilities and capiFal 2,916 + 178 + 584 3,008 76,654 +1 ,348 + 7,154 76,686 Member bank reserves: With Federal Reserve Banks 28,861 + 937 4,114 30,577 +• Currency and coin 6,015 - 705 + 673 6,015 Total reserves held 2/ 34,960 + 232 + 4,421 36,676 Required reserves 34,718 + 11 + 4,368 34,718 Excess reserves 2/ 242 + 221 + 53 1,958 NOTE: A net of $58 million of surplus reserves were eligible to be carried forward from the week ended November 14, into the week ending November 21* On November 21, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and internaticnal accounts were $26,501 million, a decrease of $317 million for the week. 1/- Includes $207 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. 37 Includes $45 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, * Estimated (New York, Cleveland, Chicago and 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 of doll ars) Wednesday Change since Nov. 21,** Nov. 14, Nov. 22, 1973 1973 1972 A S S E TS Gold certificate account 11,460 .*•• + 1,157 Special Drawing Rights certif. accts. * 400 -- mm Cash (959) 309 + 1 19 Loans 1,387 -2,604 + 1,135 Acceptances—Bought outright 41 + 2 21 Held under repurchase agreements 77 '+ 10 + 23 Federal Agency obligations—Bought outright 1,789 + 50 + 612 Held under repurchase agreements 323 + 124 + 247 U.S. Government securities: Bought outright—Bills 35,351 + 486 + -6,023 Certificates - Other Notes 38,152 + 778 + 1,471 Bonds 3,149 - 279 - 449 Total bought outright 1/ 76,652 + 985 + 7,045 Held under repurchase agreements 2,098 + 286 + 1.874 Total U.S. Government securities 7?.750 +LOI1 + 8,919 Total loans and securities 82,367 -1,147 +10,915 Cash items in process of collection (1,752) 9,389 + 266 - 145 Bank premises 219 + 1 + 51 Other assets 2/ 604 - 553 - 206 TOTAL ASSETS (2,711) 104,748 -1,432 +11,753 L I A B I L I T I ES Federal Reserve notes (959) 62,390 + 326 +4,966 Deposits: Member bank-reserves account 30,497 -1,373 + 5,116 U. S. Treasurer—general account 1,404 - 126 + 415 Foreign 759 + 207 + 554 Other 3/ 671 - 26 + 106 Total deposits 33,331 -1,318 + 6,191 Deferred availability cash items (1,752) 6,019 - 634 49 Other liabilities and accrued dividends 1,059 + 102 + 473 TOTAL LIABILITIES (2,711) 102,799 -1,530 +11,581 £ A LI1 £L A C C O U N TS Capital paid in 836 + 4 + 53 Surplus 793 — + 51 Other capital accounts 320 + 94 + 68 Contingent liability on acceptances purchased for foreign correspondents 604 + 4 + 399 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $207 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 3/ Includes $45 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 System1s program of credit restraint. * Estimated (New York, Cleveland,Chicago and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES. NOVEMBER 21, 1<m (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 1 changes Changes Within 15 days i 333 87 7,162 - 924 +124 16 days to 90 days 54 31 19,070 +1,265 91 days to 1 year 20,368 +1,988 - 1 Over 1 year to 5 years 22,953 + 805 + 31 Over 5 years to 10 years 7,435 -1,923 + 20 Over 10 years 1,762 + 60 Total 1,387 lTT 78,750 +1,271 +174 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 21, 1973 New Phila Cleve- Rich JU St. Minne Kansas San* Total Boston York* delphia 1 and * mond Atlanta Chicago" Louis apolis City Daiias Francisco 0. n millions of dollars) A S S E TS Gold certificate account 11,460 748 14 682 1,270 1,431 712 2,260 517 264 470 488 2,604 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 959 113 206 27 37 68 139 55 25 15 43 78 153 Other cash 309 18 22 4 35 32 42 36 21 10 35 17 37 Loans 1,387 52 448 209 15 128 97 129 36 33 160 32 48 Acceptances: Bought outright 41 _. 41 .. -- _- -• -- -„ ~. ..... -. _- Held under repurchase agreements 77 -- 77 — -- -- .. -- .- __ ... -. .. Federal Agency obligations-- 1,789 79 468 93 135 126 97 286 62 34 68 77 264 Bought outright Held under repurchase agreements 323 _- 323 __ ._ .. -- „. .. ... «. — «,. .. U.S. Government securities: Bought outright-- Bills 35,351 1,569 9,249 1,841 2,656 2,486 1,911 5,654 1,225 668 1,350 1 ,527 5,215 Certificates: Other — — — — -- — — -- -- -- .. .. .. Notes 38,152 1,693 9,983 1,987 2,866 2,684 2,063 6,102 1,322 720 1,457 1 ,647 5,628 Bonds 3,149 140 824 164 237 222 170 504 109 59 120 136 464 Total bought outright \/ i 76,652 3,402 20,056 3,992 5,759 5,392 4,144 12,260 2,656 1,447 2,927 ~T, 310 11,307 Held under repurchase agreements 2,098 — 2,098 — -- — — — — -- .. ... Total U.S. Government securities 78,750 3,402 22,154 3,992 5,759 5,392 M44 12,260 2,656 1,447~~ 2,927 ~ ,310 11,307 Total loans and securities 82,367 3,533 23,511 4,294 5,909 5,646 4,338 12,675 2,754 1,514 3,155 3 ,419 11,619 Cash items in process of collection 11,141 416 1,826 508 501 1,154 1,074 1,866 548 645 765 686 1,152 Bank premises 219 42 10 10 27 14 15 16 14 34 17 12 8 Other assets 2/ 604 26 189 28 41 44 38 83 19 13 22 23 78 TOTAL ASSETS [107,459 4,919 25,871 5,576 7,853 8,425 6,380 17,061 3,913 2,502 4,522 4 ,737 15,700 1/ Includes $207 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks 0 2/ Includes assets denominated in foreign currencies. * Estimated (New York, Cleveland, Chicago, 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 NOVEMBER 21, 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 63,349 3,165 15,656 3,985 5,089 5,643 3,333 10,666 2,505 1,129 2,451 2,395 7,332 Deposits: Member bank reserves 30,497 1,089 7,255 942 1,948 1,474 1,955 4,372 807 746 1,251 1,637 7,021 U. S. Treasurer—general account 1,404 131 261 92 118 215 108 77 93 47 54 24 184 Foreign 759 31 1/219 36 66 38 51 115 25 17 31 39 91 Other 3/ 671 5 551 19 1 24 11 21 4 1 6 6 22 Tp.tal___dep.9_s its 33,331 1,256 8,286 1,089 2,133 1,751 2,125 4,585 929 811 1,342 1,706 7,318 Deferred availability cash items 7,771 375 1,087 357 392 855 721 1,355 381 497 617 493 641 Other liabilities and accrued dividends 1,059 42 336 47 71 63 65 150 32 21 32 40 160 TOTAL LIABILITIES 105,510 4,838 25,365 5,478 7,685 8,312 6,244 16,756 3,847 2,458 4,442 4,634 15,451 CAPITAL ACCOUNTS Capital paid in 836 34 214 42 74 47 61 130 28 20 35 46 105 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 320 13 85 17 22 24 20 51 11 6 12 14 45 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 107,459 4,919 25,871 5,576 7,853 8,425 6.380 17.061 3.913 2.502 4.522 4,737 15.7QQ Contingent liability on ace :eptances purchased for foreign correspondents 604 25 2/158 30 55 31 42 95 21 14 25 .3.1 Z5_ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R* notes outstanding 3,328 16,373 4,060 5,266 5,795 3,559 10,856 2,616 1,160 2,582 2,570 7,790 Collateral for F. R. notes: Gold certificate account 175 — 350 350 720 — 700 155 — — 5 U. S. Government securities 3,185 16,650 3,800 5,000 5,145 3,700 10.400 2.520 1,200 2.700 2 63Q 8.000 r Total collateral 3,360 16,650 4,150 5,350 5,865 3,700 11,100 2,675 1,200 2,700 2,635 8,000 1/ Afte** deducting $540 million participations of other Federal Reserve Banks. 2/ After deducting $446 million participations of other Federal Reserve Banks. 3/ Includes $45 million of certain deposits of domestic non-member banks and foreign-owned banking institutions held with member banks and Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis