H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and •f^LRt^] Condition Statement of F.R. Banks H.4.1 For immediate release January 10, 1973 The average of daily figures for total reserves of member banks increased $555 million in the latest statement week to $36,190 million. Required reserves increased while excess reserves and member bank borrow ings at Federal Reserve Banks declined. An increase in float and decreases in currency in circulation, other deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital were the major factors providing reserves in the latest statement week* Partially offsetting these reserve gains was an increase in foreign deposits with Federal Reserve Banks. In addition, System Open Market Operations absorbed $23 million reserves net, on a weekly average basis, through matched sale-purchase trans actions and maturing repurchase agreements made in the previous week. Reserves were provided early in the week 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, Jan. 9, * Je n. 2, Jan. 10, Jan. 9, * and related items 1974 1974 L973 1974 Reserve Bank credit: (In mi .lions of dollars) U.S. Government, securities-- Bought outright--System account 78,751 + 428 + 8 ,489 1/2/77,312 Held under repurchase agreements 1.64 - 338 + 114 — Federal Agency obligations-- Bought outright 1,920 + 5 + 609 1,920 Held under repurchase agreements 45 - 66 + 39 Acceptances-- Bought outright 65 4 - 11 65 Held under repurchase agreements 45 48 + 39 — Loans-- . Total member bank borrowing 776 434 + 88 2,103 Includes seasonal borrowing of: 19 - 12 + 19 17 Other borrowing - Float 4.303 + 250 254 4,813 Other F.R. assets 1,211 + 7 - 65 1,299 Total Reserve Bank credit 87,280 - 199 + 9 ,047 87,512 Gold stock 11,567 -» + 1 ,157 11,567 Special Drawing Rights certif. acct. 400 — -- 400 Treasury currency outstanding 8,683 + 7 + 369 8,685 107,930 - 192 +10 ,573 108,164 Currency in circulation 71.867 - 595 + 5 ,844 71,761 Treasury cash holdings 329 - 4 - 21 356 Treasury deposits with F.R. Banks 2,338 + 84 + 631 2,834 Foreign deposits with F.R. Banks 544 + 213 + 257 543 Other deposits with F.R. Banks 4/ 700 - 278 + 27 709 Other F.R. liabilities and capital 2,777 - 200 + 523 2,784 78,555 - 779 + 7 ,261 78,987 Member bank reserves: With Federal Reserve Banks 29,375 + 587 + 3 ,311 29,176 Currency and coin 6,748 - 32 + 585 6,748 Total reserves held 3/ 36,190 + 555 + 3 ,684 35,991 Required reserves 36,192 + 943 + 3 ,812 36,192 Excess reserves 3/ 2 „. 388 - 128 - 201 NOTE: A net of $148 million of surplus reserves were eligible to be carried forward from the week ended January 2, into the week ending January 9. On January 9, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $25,622 million, a decrease of $671 million for the week, 1/ Excludes $1,640 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $92 million securities loaned-~fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Adjusted to include $67 million of certain reserve deficiencies on which penalties can be waived for a transition period in connection with bark adaptation to Regulation J as amended effective November 9, 1972. 4/ Includes $34 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 (Boston, Minneapolis, San Francisco and Dallas Districts), Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CQNSOLIDATED STATEMENT OF CONDITIO OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Jan. 9,** Jan. 2, ] Jan. 10, 1974 1974 1973 A S S E TS Gold certificate account 11,460 + 1,157 Special Drawing Rights certif. accts. 400 Cash (1,3 38) 266 2 51 Loans 2,103 +1,110 + 1,273 Acceptances—Bought outright 65 11 Held under repurchase agreements - 205 Federal Agency obligations—Bought outright 1,920 + 609 Held under repurchase agreements - 312 U.S. Government securities: Bought outright—Bills 35,649 -1,435 + 5,595 Certificates - Other Notes 38,514 + 1,833 Bonds 3,149 - 314 Total bought outright I) 2/ 77,312 -1,435 + 7,114 Held under repurchase agreements •1.662 Total U.S. Government securities •3,097 +7,114 Total loans and securities 81,400 -2,504 + 8,985 Cash items in process of collection (1,5 90) 10,751 -2,192 + 51 Bank premises 224 + 1 + 30 Other assets \J 1,075 + 96 - 33 TOTAL ASSETS (2,9 28) 1P5-..5Z& -4,601 ±10,139 Federal Reserve notes ~ (1,338) 63,592 + 5,402 Deposits: Member bank-reserves account 29,096 + 3,303 U. S. Treasurer—general account 2,834 + 873 Foreign 543 + 238 Other Jj 709 - 136 Total deposits 33,182 + 4,278 Deferred availability cash items (1,590) 6,018 55 Other liabilities and accrued dividends 975 + 391 TOTAL LIABILITIES (2,928) 103,767 +10,016 £ A Z I 1 £L A C C O U N TS Capital paid in 846 + 3 + 52 Surplus 844 + 51 Other capital accounts 119 + 91 + 20 Contingent liability on acceptances purchased for foreign correspondents 610 + 31 + 421 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $1,640 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $92 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $34 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 (Boston,Minneapolis, Dallas and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JANUARY SO. 19Z4 (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 2,093 20 %664 -3,254 U -301 16 days to 90 days 10 45 19,394 + 677 104 - 11 91 days to 1 year 20.,861 - 520 282 Over 1 year to 5 years 23,128 — 787 Over 5 years to 10 years 7,503 — 497 Over 10 years 1..762 — 239 Total 2,103 65 77,312 -3,097 1,920 -312 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 9, 1974 New Phila Cleve Rich^ St. Mmne-^ Kansas San** Total ^Boston* Atlanta Chicago Dalla§* York delphia land mond Louis apolis City Francisco 0 "n millions of dollars) A S S E TS Gold certificate account 11,460 609 3,486 740 976 1,106 439 1,535 392 208 272 320 1,377 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,338 105 226 79 101 134 215 98 50 24 48 93 165 Other cash 266 15 19 2 32 28 38 30 19 10 32 14 27 Loans 2,103 7 1,113 53 48 17 52 413 20 17 45 3 315 Acceptances: Bought outright 65 — 65 — — — -- .- „ — -- -- -- Held under repurchase agreements — -- — — — — — — — -- — --. -- Federal Agency obligations-- Bought outright 1,920 90 472 105 147 146 110 313 72 40 76 88 261 Held under repurchase agreements — „- «- — — — — ... — — — — -. U.S. Government securities: Bought outright-- Bills 35,649 1,672 8,776 1,952 2,733 2,708 2,047 5,807 1,333 742 1,405 1,633 5,841 Certificates: Other Notes 38,514 1,806 9,481 2,109 2,953 2,925 2,212 6,274 1,441 801 1,517 1,764 5,231 Bonds 3.149 148 775 172 242 239 181 SI 3 118 65 - - J-24 144 428 Total bought outright 1/ 2/ 77,312 3,626 19,032 4,233 5,928 5,872 4,440 12,594 2,892 1,608 3,046 3,541 10,500 Held under repurchase agreements ,.. _- ..-. -.. .- „-. -- _,- •.- ., _„ __ Total U.S. Government securities 77,312 3,626 19,032 4,233 5,928 5,872 4,440 12,594 2,892 1,608 3,046 3,541 10,500 Total loans and securities 81,400 3,723 26,682 — 4,391 6,123 6,035 4,602 "TT,320 ™2,984 1,665""~ ~ 3,167 "3763r~ 11,076 ~ Cash items in process of collection 12,341 440 2,363 474 517 1,130 1,205 1,545 585 699 938 731 1,714 Bank premises 224 44 10 11 27 14 15 16 14 36 17 12 8 Other assets 3/ 1 ,075 M 741 57 71 T\ 70 1^1 ^ 5Q W 77 165 TOTAL ASSETS 108,504 5,002 27,120 5,777 7,880 8,556 6,606 16,765 4,094 2,708 4,522 4,893 14,581 1/ Excludes $1,640 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions . 2/ Includes $92 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. ** Estimated (Boston,Minneapolis,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 JANUARY 9, 1974 * New Phila Cleve Rich St. Minne-* Kansas * it 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 64,930 3,244 15,941 4,065 5,211 5,794 3,511 10,823 2,585 1,165 2,516 2,457 7,618 Deposits: Member bank reserves 29,096 1,107 8,229 1,034 1,855 1,350 1,861 4,193 887 697 1,012 1,517 5,354 U. S. Treasurer—general account 2,834 157 482 137 171 375 246 297 144 169 164 203 289 Foreign 543 22 1/148 26 49 28 38 84 18 12 22 29 67 Other 3/ 709 3 570 25 2 19 14 42 3 3 6 6 16 Total deposits 33,182 1,289 9,429 1,222 2,077 1,772 2,159 4,616 1,052 881 1,204 1,755 5,726 Deferred availability cash items 7,608 350 1,060 349 362 818 735 893 361 598 691 541 850 Other liabilities and accrued dividends 975 45 229 51 70 69 71 147 34 22 36 42 159 TOTAL LIABILITIES 106,695 4,928 26,659 5,687 7,720 8,453 6,476 16,479 4,032 2,666 4,447 4,795 14,353 CAPITAL ACCOUNTS Capital paid in 846 34 215 41 76 47 62 133 28 20 35 46 109 Surplus 844 34 215 42 74 47 62 132 29 20 35 46 108 Other capital accounts 119 6 31 7 10 9 6 21 5 2 5 6 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 108,504 J c ,U r U \n Z n , £ n . - 1 i , i X Z n . r W \ J C > , / I ' / l l / " / 7 , 0 O 0 O / U > OO ,CJ JCU£ o C , C u f u \K u i K -r/r r / r\r\ 1 I. r A/> 4,893 14,581 Contingent liability on ace: eptances purchased for foreign correspondents 610 26 2/159 30 55 31 43 96 21 14 26 33 76 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,378 16,649 4,146 5,452 67518 37776 11,174 2,722 * 1,214 2,649 2,622 8,131 Collateral for F. R. notes: Gold certificate account 175 — 400 350 750 — 700 L/D — ~ 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 3T7f05 16,850 4,200 5,550 67090 J7900 11,300 2,795 T^40 2,700 2,660 8,300 1/ After deducting $ 395 million participations of other Federal Reserve Banks. 27 After deducting $451 million participations of other Federal Reserve Banks. 3/ Includes $34 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 (Boston, Minneapolis, Dallas and San Francisco Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis