H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and '•'f*AL*S*Y''' Condition Statement of F.R. Banks H.4.1 For inv"^i- -e release Jamiirv i, 1974 The average of total reserves of member banks decreased slightly in the latest statement week to $35,445 million. Required reserves ami xember bank borr.owi.ngs at Federal Reserve Backs Increased while excess reserves declined. A decline in float and increases in currency in circulation and other deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week* Partially offsetting these reserve drains were declines in foreign deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital. In addition System Open Market operations provided $705 million reserves 5 net, on a weekly average basis through outright purchases of Treasury bills and repurchase agreements. AT'pragps :ijmr?3 Member bank reserves, Week pn.ied iC w^ek ended(Wednesday, Reserve Bank credit, Jan. 2, •*• r Hoc. Z5, Jan, .^ Jan. 2, * and related items 197A- | 1973 1973 1974 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright--System account 73, ^ + 879 4-8,484 1/78,747 Held under repurchase agreements 195 34 1,662 Federal Agency obligations- Bought outright + 117 f 604 1,920 Held under repurchase agreements IV- 37 + 60 312 Acceptances — Bought outright 65 Held under repurchase agreements 93 68 40 205 Loans-- Total member bank, borrowing 168 541 993 Includes seasonal borrowing of: 31 4 31 24 Other borrowing Float ,865 832 181 ,549 Other F.R. assets ,201 28 54 J.83 Total Reserve Bank credit 13 +8,377 50,636 Gold stock +1,157 11,567 Special Drawing Rights certif. acct. 400 Treasury currency outstanding 4 + 373 8,677 "" 18 +9,907 111,280 Currency in circulation 238 +5,918 72,517 Treasury cash holdings 5 13 330 Treasury deposits with F.R. Banks 26 + 539 1,985 Foreign deposits with F.R. Banks 200 + 9 309 Other deposits with F.R. Banks 2/ 282 + 209 704 Other F.R, liabilities and capital 78 + 756 2,704 79,334 273 +7,418 78,549 Member bank reserves: With Federal Reserve Banks 28,598 256 32,732 Currency and coin 6,780 272 Total reserves held 2/ 35,445 - 1 39,579 Required reserves 35,249 + 300 35,249 Excess reserves 2_/ 196 - 301 4,330 NOTE: A net of $229 million of surplus reserves were eligible to be car ied forward from the week ended December 26, 1973, into the week ending January 1974. On January 2, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $26,293 million, a decrease of $459 million for the week. 1/ Includes $96 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Adjusted to include $67 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 $33 million of certain deposits of domestic non-member banks and foreignowned banking institutions held with member banks and redeposited in full with Fede.al Reserve Banks in connection with voluntary participation' by non-member institutions in the Federal Reserve System's orogram of ?.redit restraint. JistiDuatM (r.levfiland, Chicago and Dallas 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 Jan. 2,** Dec. 26, Jan. 3, 1974 . 1973 1973 A S S E TS Gold certificate account 11,460 —* + ]L ,15/ Special Drawing Rights certif. accts. 400 .,- -- Cash (1,090) 268 - 10 - 35 Loans 993 + 508 + 102 Acceptances—Bought outright 65 + 4 - 7 Held under repurchase agreements 205 + 205 + 84 Federal Agency obligations—Bought outright 1,920 + 122 + 609 Held under repurchase agreements 312 + 312 + 161 U.S. Government securities: Bought outright--Bills 37,084 +3,600 + 7,178 Certificates - Other Notes 38,514 + 205 + 1,833 Bonds 3,149 -- - 314 Total bought outright 1/ 78,747 +3,805 + 8,697 Held under repurchase agreements 1,662 +1,662 441 Total U.S. Government securities 80,409 +5,467 + 8,256 Total loans and securities 83,904 +6,618 + 9,205 Cash items in process of collection (1,479) 12,094 +1,245 + 453 Bank premises 223 + 1 + 29 Other assets 2/ 960 - 782 120 TOTAL ASSETS (2,569) 109,309 +7,072 +10,689 L I A B I L I T I ES Federal Reserve notes (1,090) 6* ,330 - 231 + 5,571 Deposits: Member bank-reserves account 32,652 +7,291 + 4,619 U. S. Treasurer—general account 1,985 - 731 + 937 Foreign 309 - 420 11 Other V ( 16) 704 + 111 9 Total deposits ( 16) 35,650 +6,251 + 5,536 Deferred availability cash items (1,463) 6,625 +1,369 870 Other liabilities and accrued dividends 998 + 362 •'// TOTAL LIABILITIES (2,569) 107,603 +7,409 +10,599 £AIIlAIi A C C O U N TS Capital paid in 841 + 3 + 49 Surplus 844 + 51 + 51 Other capital accounts 21 - 391 10 Contingent liability on acceptances purchased for foreign correspondents 579 - 30 + 395 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $96 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. _3/ Includes $33 million of certain deposits of domestic non-member banks and foregin owned banking institutions held with member banks and redeposited in full with voluntary participation by non-member institutions in the Federal Reserve- System's program of credit restraint. ** Estimated (Cleveland, Chicago, and Dallas Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JAP"M*v ?I 1974 (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 nhligations ances Holdings Weekly Holdings Weekly changes Changes Within 15 days 973 220 7,918 +5,703 312 +294 16 days to 90 days 20 50 18,717 - 655 115 + 1 91 days to 1 year 21,381 + 282 282 Over 1 year to 5 years 23,128 + 137 787 + 54 Over 5 years to 10 years 7,503 — 49/ + 73 Over 10 years -- -- 1,762 — 239 + 12 Total 993 270 80,409 +5,467 2^ 232 +434 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 JANUARY 2, 1974 New Phila * Cleve Rich * St. Minne Kansas * San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (1. n millions of dollars) A S S E TS Gold certificate account 11,460 421 4,072 436 594 942 564 1,650 184 40 410 273 1,874 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,090 95 170 58 75 104 166 59 47 25 56 79 156 Other cash 268 15 19 2 32 28 38 33 18 10 32 14 27 Loans 993 140 240 26 96 50 115 164 22 39 34 41 26 Acceptances: Bought outright 65 -- 65 -- — -- -- -- -- -- -- — -- Held under repurchase agreements 205 -- 205 — -- -- -- -- -- -- -- -- _- Federal Agency obiigations-- Bought outright 1,920 90 472 105 147 146 110 313 72 40 76 88 261 Meld under repurchase agreements 312 -- 312 __ „_ -. _- _- -- -- -- _- U.S. Government securities: Bought outright-- Bills 37,084 1,739 9,129 2,031 2,843 2,817 2,130 6,041 1,387 771 1,461 1 ,699 5,036 Certificates: Other -- -- -- -- -- -- -- -- -- -- -- -- -- No t e s 38,514 1,806 9,481 2,109 2,953 2,025 2,212 6,274 1,441 801 1,517 1 ,764 5,231 Bonds 3,149 148 775 172 242 239 181 513 118 65 124 144 428 Total bought outright 78,747 3,693 19,385 4,312 6,038 5,981 4,523 12,828 2,946 1,637 3,102 ~T, 607 10,695 Held under repurchase agreements 1/ 1,662 — 1,662 — -- -- -- -- -- -- -- -- -- | Total U.S. Government securities 80,409 3,693 21,047 4,312 6,038 5,981 4,523 12,828 2,946 1,637 3,102 ~ ,607 10,695 Total loans and securities 83,904 3,923 22,341 4,443 6,281 6,177 4,748 13,305 3,040 1,716 3,212 3 ,736 10,982 Cash items in process of collection 13,573 426 3,267 502 650 1,231 1,891 1,777 600 640 898 501 1,190 Bank premises 223 44 10 10 27 14 15 16 14 36 17 12 8 Other assets 2/ 960 39 229 51 65 68 70 133 55 23 31 38 158 TOTAL ASSETS 111,878 4,986 30,201 5,525 7,757 8,600 7,514 17,043 3,973 2,497 4,671 4 ,667 14,444 17 Includes $96 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. * Estimated (Cleveland, Chicago, and Dallas Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

K.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 2, 1974 New Phila Cleve Rich Minne Kansas •k 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 65,420 3,246 16,066 4,089 5,244 5,837 3,557 10,925 2,599 1,170 2,535 2,483 7,669 Deposits: Member bank reserves 32,652 1 1,-210 10,868 857 1,798 1,473 2,161 4,649 839 668 1,162 1,632 5,335 U. S. Treasurer—general account 1,985 87 533 77 165 218 188 151 140 71 104 102 149 Foreign 309 11 1/117 13 24 13 18 41 9 6 11 14 32 Other 3/ 720 3 555 43 1 17 30 43 1 2 4 5 16 Total deposits 35,666 1,311 12,073 990 1,988 1,721 2,397 4,884 989 747 1,281 1,753 5,532 Deferred availability cash items 8,088 1 315 1,340 312 303 875 1,367 845 293 518 748 305 867 Other liabilities and accrtl ed dividends 998 44 285 50 74 71 6ft 125 34 22 36 34 155 TOTAL LIABILITIES 110,172 4,916 29,764 5,441 7,609 8,504 7,389 16,779 3,915 2,457 4,600 4,575 14,223 CAPITAL ACCOUNTS Capital paid in 841 ' 34 215 41 72 47 62 132 28 20 35 46 109 Surplus 844 34 215 42 74 47 62 132 29 20 35 46 108 Other capital accounts 21 2 7 1 2 2 1 1 1 4 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 111,878 4,986 30,201 5,525 7,757 8,600 7,514 17,043 3,973 2,j497 4,671 4,667 14^444 Contingent liability on ace. eptances purchased for forei- gn correspondents 579 24 2/151 29 53 30 41 91 20 13 24 31 72 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,394 16,663 4,164 5,450 6,014 3,787 11,210 2,733 1,219 2,653 2,632 8,136 Collateral for F. R. notes: Gold certificate account 175 — 400 350 750 700 175 5 U. S. Government securities 3,230 16,850 3,800 5,200 5^340 3,900 10,600 2,620 1,240 2,700 2,655 8,300 Total collateral 3,405 16,850 4,200 5,550 6,090 3,900 11,300 2,795 1,240 2,700 2,660 8,300 _1/ After deducting $ 192 million participations of other Federal Reserve Banks, 2/ After deducting $428 million participations of other Federal Reserve Banks. 3/ Includes $33 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, Chicago, and Dallas Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis