H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE f actors Affecting Bank Reserves and Condition St-i^ment of F n Banks For immediate release December 27, 1973 The average of total reserves of member banks increased by $426 million in the latest statement week to $35,554 million. Required reserves and excess reserves increased while member bank borrowings at Federal Reserve Bank'- dec: lined. Major factors absorbing reserves in the latest statement week were increases in currency in circulation, foreign deposits and Treasury deposits with Federal Reserve Banks, and other Federal Reserve liabilities and capital. More than offsetting these reserve drains was a more than seasonal increase in float. In addition, System Open Market Operations provided $609 million reserves net, on a weekly average basis through out right purchase of T-reasnry Bills and repurchase agreements. Some reserves were ahnorb^d lare In the week through, matched sale-purchase transactions. Aver*ges__of_dai_ly fig ures Member D.*IIK. r^ser- - Week ended Change from we ek ended Wednesday^ Reservt Par.1- ^rr^ • Dec. 26, * Dec. 19, " Dec r~Tf\, Dec. 26, * and related ite;j\s 1973 1973 :L 972 1973 Reserve Bank crcdi» "~Tlr i millions of d ollars) U.S. Government «j. - <ir i • ->s -• Bou gh t on r r i gh r - 3 v r i em a c... on n t 77,4*4 -»- 490 + 8,088 1/2/74,942 Held under ri p»i* .-ha* *? agreements 697 4. 30 jr 697 -'- Fed era 1 A geney o K i«:<? «ons- • Bought c*Jitrip.hi 1,798 .... f 508 1,798 Held andei rt'yLM..»df!t' agy e^-enrs 14P, 4 ?- 148 -- Acceptances • - .. Bought outright 60 + 6 10 61 Held jnder rppiu-.aasi- agreements 161 + 87 161 -- Loans-* Total member <•*,<•,*' borrow m*?. 1,042 447 76 485 Includes -?eao ».,al borrowing of 35 35 20 Other hori <•«*< in* „• „™ --. »„ Float 4,919 +1,664 + 283 7,331 Oih- \ M^ ...-.r*e t , 109 4 72 - 77 1,130 T( fa J pph "1 ,/<- r-cin 87,378 41,89* + 9,722 85,747 ;-c!J - , <K k 11 ,567 _~ 4- 1,157 11,567 Spec J -i L'r^wj n t- ecu l • 400 -- --. 400 TienlM «-d;n,.- £_ ;f + 373 8,675 v^.»*l7 4-117252 106,3*9 C t'. r x e rc \ j; /p j vo? j :>?o + 5,627 72,529 I r-^si v 328 f>i i pi ?21 r -T.AS. r> »' r- i .- 1 VV{ 5 7'* 4- 539 2,716 r* i >r r i j>n ii' r>-\> AS : f h r •: . r-nu^ f i ! - 1 " 'i + 2rii 729 d tW Jb>p> »• i f ; v - .R Banks 's / i 2 * ' J 4 . 121 71 *> Jtbel r ^ * , .rl. » -s *'- id ( KO, •-• 1 054 i- I 3 I + 669 3,072 7,189 p0,08 3 ^."tnb^x bank J e-set With Federa i P»- J^i\Uit 2b, yo ' /•v> f 4,063 26,305 *.ui „ en. > t,r, ' i.,508 V) ± 416 _6,50R„ 1 T -i , r' .i - r v f 3»,ri7»4 « -'«?'> !' 4J-" 13* 32,P°S '-cfi n * ! ;-**- > r- J„ 3,697 3/sp/-9 -2,0^1 NOT" o* ? « 5M -:| j of .r s'upius re^'.\^^ wer.-> ei'^ifi. J:O h« carried forward J «^i ^li.* weer >*ndr-d lie. timber !^, 1973, into the week ending December 26. .'i> "•< ^.nbp* ?ft , 19"7*** .t^rketnble I j. ^ r Government securities held in custody oy rj.fe ^ed^r:>I : c.*^! /e Banks :«»r forou"i and i nl einati oe i J accnuntis were $26,752 initio.. cs d*-cr«-s{-- s£ 3"..)3 w 11ron ! ^r the w^eV. S / " * . 1 1 ; .in -T ?prm':ifs -old, ani «rhed«i3ed to be bought back, a U-~pi tch* >e tr^ossct i"t^*. r> ,-Tir ^fjTftiPs 'ofln^'b-'iiMy ^erurea by !J .- , (vovernment r'err. r f * i. "t£.p<3 wit*- federal ^sfiu- Banl*s. .Ad jij*w ^'d "e *'p4 million of f^rt'Mn r^sorw Jf fie iencj es on which penalties - rs:anc.;t'on. period in /onn^crion with ba^.k adantation to ..'..j.ided i.'i^ctiv,- [vT-vem^.-, \ 1972. . n ' ndf» -» • •• of certain tf^p^^j, -> pj ir.^.. t.-, nnn-rr.e'nh'a banks and foreign- ,,-i'UJion^ tsejd with me-.^b r b^nVs ;iul rcdepos?ted in full with -n«" in ennerf i ^n v'iv v<"l"~*aTy participation by r».or«-member instiv:, : p« ,f*r-'o S"sr< V * z4*.-'. "» o»" credit ^".traint:. Pb-* la^^i'^bia M^v^i,«,-.', Kicnmo^i Atl^nrq, f!h i c**°,d;> Tl^ll^^ * • >fri rt'» > . 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 Dec. 26,** Dec. 19, Dec 27, 1973 1973 1972 A S S E TS Gold certificate account 11,460 ... + 1 ,157 Special Drawing Rights certif. accts. 400 — -- Cash ( 921) 284 5 - 26 Loans 485 -1,083 - 950 Acceptances--Bought outright 61 + 8 - 8 Held under repurchase agreements _- - 187 -- Federal Agency obligations--Bought outright 1,798 -- '- 487 Held under repurchase agreements -- - 419 — U.S. Government securities: Bought outright--Bills 33,484 -2,533 + 5,394 Certificates - Other Notes 38,309 4- 50 + 1,628 Bonds 3,149 — - 314 Total bought outright 1/ 2/ 74,942 -2,483 + 6,708 Held under repurchase agreements -- -2,323 — Total U.S. Government security,es_ 74,942 -4j.C06 + 6,708 Total loans and securities 77,2*6 -6,487 + 6,237 Cash items in process of collection (1,726) 13,099 +2,234 + 2,735 Bank premises 222 -.- + 49 Other assets _3/ 908 + 67 138 TOTAL ASSETS (2,647) 103,659 -4,191 +10,014 k I A 1 I k I 1 I I S. Federal Reserve notes ( 921) 64,352 + 411 + 5,100 Deposits: Member bank-reserves account 26,226 -5,476 + 3,710 U. S. Treasurer--general account 2,716 + 624 + 452 Foreign 729 + 446 + 433 Other tjj ( 103) 716 + 46 + 59 Total deposits ( 103) 30^387 -4,360 + 4,654 Deferred availability cash items 5,848 - 3? 8 413 Other liabilities and accrued dividends 1,049 + 1 + 475 TOTAL LIABILITIES (2,647) 101,636 -4,276 + 9,816 C A P I T AL A C C O U N TS Capital paid in 838 — _ + 46 Surplus 793 -- + 51 Other capital accounts 392 '- 85 + 101 Contingent liability on acceptances purchased for foreign correspondents 609 - 7 + 435 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $2,945 million of securities sold, and scheduled to be bought back, unrUr matched sale-purchase transactions. 2/ Includes $108 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Barks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $44 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 (New York,Philadelphia,Cleveland,Richmond,Atlanta,Chicago,Dallas and San Francisco Districts). AND_SECURITIES DECEMBER _ 26 ^J 973__ MATURITY DISTRIBUTION OF LOANS (Acceptances and securities held under i- enurcha^e a^ree^ent^ are cla< 3sified as maturing within 15 days in ac: cordance \ r^pf the^a agreements.) U. r>. Gove rn*T»ent Federal Apency Lo^ns Accept securities e^1iRations _ ances Hol^Jn^ Weekly foldings Weekly charges lchanges_ Within 15 days 475 19 2,215 -5,130 18"""" -410 16 days to 90 days 10 42 19,372 2 114 - 1 91 days to 1 year -- -- 21,099 + 326 282 -- Over 1 year to 5 ye~rs -- -- 22,901 .,-. 733 -- Over 5 years to 10 yeari3 -- 7,W3 — 424 — Over 10 years -- 1*762 — 227 -- Total 485 Ti 74,942 -4,806 1,798 -419 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.100 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 26, 1973 Total Boston Y N o e r w k * d P e h l il p a hi - a * C l l a e n v d e * m R o i n ch d Atlanta C «u h i • c ago * L S o t u . i s M a i p n o n l e i s K C a i n t s y a s Dallas" F Sa r n a * nc isco (In millions of dollars) A S S E TS Gold certificate account 11,460 759 1,126 1,061 812 1,457 818 2,482 747 188 539 939 532 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 921 80 185 33 56 70 146 55 34 18 46 68 130 Other cash 284 16 20 4 33 28 40 34 19 11 33 14 32 Loans 485 3 34 18 10 83 129 48 25 13 49 34 39 Acceptances: Bought outright 61 __ 61 — — — — — — -- _- — -~ Held under repurchase agreements — — — -- — — — -- — -- -- -- -- Federal Agency obligations- Bought outright 1,798 84 459 96 139 133 99 287 63 36 68 78 256 Held under repurchase agreements -- -- — — — — -- -- — — — — — U.S. Government securities: Bought outright-- Bills 33,484 1,571 8,539 1,794 2,581 2,474 1,840 5,350 1,179 666 1,274 1 ,447 4,769 Certificates: Other -- -- -- -- -_ -- _- -- -- -« -- -« -- Notes 38,309 1,797 9,770 2,052 2,953 2,830 2,105 6 8 120 1,349 762 1,458 1 ,656 5,457 Bonds 3,149 148 803 169 243 233 173 503 111 62 120 136 448 Total bought outright 1/ 2/ 74,942 3,516 19,112 4,015 5,777 5,537 4,118 11,973 2,639 1,490 2,852 3 ,239 10,674 Held under repurchase agreements -- -- -- _- -- — -„ „„ -- -- -- — -- Total U.S. Government securities 74,942 3,516 19,112 4,015 5,777 5,537 4,118 11,973 2,639 1,490 2,852 3 ,239 10,674 Total loans and securities ; 77,286 3,603 19,666 4,129 5,926 5,753 4,346 12,308 2,727 1,539 "__ .2,969 3 ,351 10,969 Cash Items in process of collection 14,825 387 3,089 694 805 1,409 1,223 3,897 542 517 581 704 977 Bank premises 1 222 44 10 10 27 14 15 16 14 35 17 12 8 Other assets 3/ 908 37 240 40 59 75 _48 112 .-37 23 28 44 165 TOTAL ASSETS 106,306 4,949 24,429 5,994 7,751 8,842 6,658 18,974 4,135 2,338 4,228 5 ,146 12,862 _1/ Excludes $2,945 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 27 Includes $108 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 37 Includes assets denominated in foreign currencies. * Estimated (New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, 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 DECEMBER 26, 1973 New * Phila Cleve Rich- * * St. Minne Kansas San * Total Boston York delphia land mond •k 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 65,273 3,247 16,002 4,080 5,240 5,842 3,556 10,935 2,603 1,171 2,533 2,489 7,575 Deposits: Member bank reserves 26,226 1,055 5,008 1,154 1,566 1,363 1,877 6,018 1,014 593 993 1,718 3,867 U. S. Treasurer--general account 2,716 197 587 135 144 369 215 369 135 121 79 223 142 Foreign 729 30 1/197 35 66 38 50 113 24 17 30 39 90 Other 3/ 819 9 550 18 15 38 12 115 2 2 5 7 46 Total deposits 30,490 1,291 6,342 1,342 1,791 1,808 2,154 6,615 1,175 733 1,107 1,987 4,145 Deferred availability cash items 7,471 282 1,280 420 470 982 750 950 255 368 471 522 721 Other liabilities and accril ed dividends 1,049 44 283 51 76 90 57 157 33 20 36 41 161 TOTAL LIABILITIES 104,283 4,864 23,907 5,893 7,577 8,722 6,517 18,657 4,066 2,292 4,147 5,039 12,602 CAPITAL ACCOUNTS Capital paid in 838 34 214 42 74 47 62 131 28 20 35 46 105 Surplus 793 34 207 39 72 42 55 124 27 18 33 43 99 Other capital accounts 392 17 101 20 28 31 24 62 14 8 13 18 56 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 106,306 4,949 24,429 5,994 7,751 8,842 6,658 18,974 4,135 2,338 4,228 5,146,, 12,862 Contingent liability on ace, eptances purchased for forei correspondents 609 25 2/159 30 55 32 43 96 21 14 25 33 76 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 67,680 3,376 16,593 4,162 5,431 5,982 3,782 11,125 2,705 1,204 2,646 2,630 8 ,044 Collateral for F. R. notes: Gold certificate account 2,555 175 400 350 750 700 175 5 U. S. Government securities 66,245 3,230 16,850 3,800 5,200 5,290 3,900 10,600 2.580 1.240 2.700 2 655 700 r Total collateral 68,800 3,405 16,850 4,200 5,550 6,040 3,900 11,300 2,755 1,240 2,700 2,660 8 200 1/ After deducting $532 million participations of other Federal Reserve Banks. \l After deducting $450 million participations of other Federal Reserve Banks. 3/ Includes $44 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. k Estimated (New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, Dallas, San Francisco Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis