H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and ••.f^tRts^r Condition Statement of F.R. Banks H.4.1 For immediate release January 17, 1974 The average of daily figures for total reserves of member banks increased $1,452 million in the latest statement week to $37,642 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. Major factors supplying reserves in the latest statement week were declines in currency in circulation, Treasury deposits and foreign deposits with Federal Reserve Banks, Partially offsetting these reserve gains was a decline in float. System Open Market Operations absorbed $158 million reserves net, on a weekly average basis, primarily through maturing repurchase agreements made in the previous week. Reserves were provided, late in the week, through outright purchase of Treasury bills and repurchase agreements. Averages of daily figures Member Dank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 16, Jan. 9, Jan. 17, Jan. 16, and related items 1974 1974 1973 1974 Reserve Bank credit: (In millions of dollars) U.S. Government securities — Bought outright—System account 78,772 + 21 +8 ,528 1/78,751 Held under repurchase agreements 69 - 95 - 305 482 Federal Agency obligations- Bought outright 1,918 - 2 + 607 1,920 Held under repurchase agreements 3 - 42 - 17 22 Acceptances — Bought outright 64 « 1 » 14 65 Held under repurchase agreements 6 - 39 - 19 43 Loans — Total member bank borrowing 989 + 213 . 309 1,239 Includes seasonal borrowing of: 20 •f 1 + 20 16 Other borrowing Float 3,601 . 674 «. 172 4,326 Other F.R. assets 1.211 - 21 - 100 1,310 Total Reserve Bank credit 86,633 - 640 +8 ,199 88,158 Gold stock 11,567 .- -l-l 157 11,567 Special Drawing Rights certif. acct. 400 -- — 400 Treasury currency outstanding 8,691 + 8 + 372 8,720 107,290 - 633 +9 ,728 108,845 Currency In circulation 71,214 - 641 +5 ,721 71,086 Treasury cash holdings 350 + 21 - 16 370 Treasury deposits with F.R. Banks 2,170 - 174 + 506 1,851 Foreign deposits with F.R. Banks 318 - 226 + 27 239 Other deposits with F.R. Banks 3/ 706 + 7 + 100 650 Other F.R, liabilities and capital 2,850 + 74 + 524 2,948 77,608 - 940 +6 ,862 77,144 Member bank reserves: With Federal Reserve Banks 29,682 + 307 +2 ,865 31,701 Currency and coin 7,893 +1 J45 + 980 7,893 Total reserves held 27 37,642 +1 ,452 +3 ,633 39,661 Required reserves 37,321 +1 ,129 +3 ,653 37,321 Excess reserves 2/ 321 + 323 20 2,340 NOTE A net of $64 million of surplus reserves were eligible to be carried forward from the week ended January 9, into the week ending January 16. On January 16, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $25,478 million, a decrease of $144 million for the week. V Includes $120 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 $36 million of certain deposits of domestic non-member banks and foreignowned 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. 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. 16, Jan. 9, Jan. 17, 191A 1974 1973 A S S E TS Gold certificate account 11,460 +1,157 Special Drawing Rights certif. accts. 400 Cash (1,551) 280 -f 14 - 52 Loans 1,239 - 864 + 167 Acceptances—Bought outright 65 - 13 Held under repurchase agreements 43 + 43 - 27 Federal Agency obligations—Bought outright 1,920 + 609 Held under repurchase agreements 22 + 22 - 31 U.S. Government securities: Bought outright--Bills 37,088 +1,439 +6,927 Certificates - Other Notes 38,514 +1,833 Bonds 3,149 - 314 Total bought outright 78,751 +1,439 +8,446 Held under repurchase agreements 482 + 482 - 124 Total U.S. Government securities 79,233 +1,921 +8,322 Total loans and securities 82,522 +1,122 +9,027 Cash items in process of collection (2,128) 10,800 + 300 - 714 Bank premises 225 + 1 + 31 Other assets 2/ 1,085 - 135 - 101 TOTAL ASSETS (3,679) 106,772 +1,302 +9,348 L I A B I LI T.I E S_ Federal Reserve notes 62,909 - 601 +5,316 Deposits: Member bank-reserves account 31,621 +2,525 +M35 U. S. Treasurer—general account 1,851 -1,029 + 9 Foreign 239 - 304 - 49 Other 3/ 650 - 55 + 17 Total deposits 34,361 +1, 137 +4,012 Deferred availability cash items (2,128) 6,554 + 595 - 561 Other liabilities and accrued dividends 1,034 + 72 + 422 TOTAL LIABILITIES (3,679) 104,858 +1,203 +9,189 C A P I T AL A C C O U N TS Capital paid in ~" 847 + 51 Surplus 844 + 51 Other capital accounts 223 98 + 57 Contingent liability on acceptances purchased for foreign correspondents 534 - 26 + 385 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $120 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 3/ Includes $36 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. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANTTAPV 16, 1Q74 (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 1,230 63 5,701 +1,037 43 +32 16 days to 90 days 9 45 19,587 + 193 94 -10 91 days to 1 year -- ... 21,552 + 691 2*2 «- Over 1 year to 5 years -- .. 23,128 -- 787 .. Over 5 years to 10 years — -- 7,503 -- 497 -- Over 10 years -- — -±xl*A -- 239 — Total 1,239 108 79,233 +1,921 1,942 +22 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

K.4.Ub) STATEMENT OF CONDITIO" CI' USE FEDERAL LESEIVE LUST, 01 JA!IU/."lr 16, 1974 Nev: Fhila- I Cleve Rich St. Minne Kansas San Total Eos tork York delpliic. 1 land mond Atlanta Chicago Leu.: s apolis City D«il lae Franciscc . (In millicr. s cf exilic IT £.V A S S E TS Gold certificate account 11,460 694 3,930 54C 950 1,002 237 1,845 162 16C 363 191 1,386 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 4S F.R. notes of other banks 1,551 120 258 £C 113 155 223 109 51 25 50 103 258 Other cash 280 17 20 3 33 30 41 31 2C 10 33 14 28 Loans 1,239 164 120 14C 4 51 62 1=43 122 10 33 102 282 Acceptances: Bought outright 65 — 65 -- — — — — — — — — — Held under repurchase agreements 43 — 43 — — — — — — — — — — Federal Agency obligations-- Bought outright 1,920 90 472 105 147 146 110 313 72 40 76 88 261 Held under repurchase agreements 22 — 22 — -- — — -- « — — — — U.S. Government securities: Bought outright-- Bills 37,088 1 ,740 9,13C 2,031 2,843 2,817 2,130 6,0*1 1,387 771 1,461 1 ,65$ 5,037 Certificates: Other Notes 38,514 1 ,806 9,481 2,10S 2,953 2,925 2,212 6,274 1,441 801 1,517 1 ,764 5,231 Bonds 3.149 14? 775 172 242 230 in 513 118 65 124 42 f Total bought outright 1/ ! 78,751 ~ ,694 19,386 4,312 £,038 5,98:, 4,523 12,82$ 2,941 __ ,637 3,102 3 ,637 ~ 1C,69(/' Held under repurchase agreements 482 — 482 — — — — — — z — — —» -- Total U.S. Government securities 79.233 3 .694 19,808 4 ,z;,z 6.038 5,981 4.523 L2,r,S ISk-i JX_ :, 102 3J 01 1C.69C Total loans and securities j 82,522 3 ,948 20,590 4,563 6,189 6,178 4,695 13,285 3,140 1 ,6C7 3,211 3 ,7S7 11,23$ Cash items in process of collection 1 12,928 523 2,142 545 603 1,271 1,353 1,805 663 679 889 870 1,585 Bank premises 225 45 10 11 27 14 15 16 14 36 17 12 8 Other assets 2/ 1.065 44 251 5'- 77 80 5C 15!, __T1 _ 35 _..M - If" TOTAL ASSETS 1 110,451 LJ., 414 27,294 5,825 8,025 8,766 6,64* 17,312 4,ICC 2 ,665 4,613 5 ,04! 14,75G 1/ Includes $120 million securities leaned—fully secvired by U.S. Government securities pledged with Federal Reserve IFSIIJLL . 2/ Include£ assets dene rlnated in foreign currencies:, 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 16, 1974 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 64,460 3,200 15,863 4,046 5,178 5,761 3,427 10,747 2,571 1,164 2,495 2,432 7,576 Deposits: Member bank reserves 31,621 1,429 8,732 1,082 1,971 1,476 2,018 4,696 904 762 1,174 1,702 5,675 U. S. Treasurer--general account 1,851 185 187 123 118 275 101 151 148 108 80 173 202 Foreign 239! 11 1/ 30 14 25 16 20 44 10 6 11 16 36 Other 11 650 2 518 37 5 17 15 12 3 3 6 14 18 Total deposits 34,361 1,627 9,467 1,256 2,119 1,784 2,154 4,903 1,065 879 1,271 1,905 5,931 Deferred availability cash items 8,682 462 1,211 375 485 1,038 850 1,203 364 557 731 560 846 Other liabilities and accrile d dividends 1,034 47 267 53 75 72 76 157 35 21 38 /. A 149 TOTAL LIABILITIES 108,537 5,336 26,808 5,730 7,857 8,655 6,507 17,010 4,035 2,621 4,535 4,941 14,502 CAPITAL ACCOUNTS Capital paid in 847 34 215 41 76 47 63 133 28 20 35 46 109 Surplus 844 34 215 42 74 47 62 132 29 20 35 46 108 Other capital accounts 223 10 56 12 18 17 12 37 8 4 8 10 31 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 110,451 5,414 27,294 5,825 8,025 8,766 6,644 17,312 4,100 _LM^. 4,613 5,043 14,750 Contingent liability on ace: eptances purchased for foreL]g n correspondents 584 24 2/149 28 51 33 43 92 20 13 24 32 75 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 67,741 3,370 16,640 4,129 5,427 6,002 3,759 11,121 2,707 1,211 2,635 2,607 8,133 Collateral for F. R. notes Gold certificate account 2,485 175 400 350 700 700 155 5 U. S. Government securitiL es 66,485 3,230 16,850 3,800 5,200 5,390 3,900 10,600 2.620 1,240 2,700 2.655 8.300 Total collateral 68,970 1 3,405 16,850 4,200 5,550 6,090 3,900 11,300 2,775 1,240 2,700 2,660 8,300 1/ After deducting $ 209 million participations of other Federal Reserve Banks. Tl After deducting $435 million participations of other Federal Reserve Banks. 3/ Includes $36 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 System1s program of credit restraint. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis