H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H. 4.1 For immediate release February 7, 1974 The average of daily figures for total reserves of member banks declined $706 million in the latest statement week to $35,445 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined, Major factors providing reserves in the latest statement week were declines in foreign deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital, System Open Market Operations absorbed $685 million reserves net, on a weekly average basis through redemptions of Treasury bills and matched sale-purchase transactions. Reserves were provided early in the week, through purchases of Treasury bills and repurchase agreements. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 6, * Jan• 30, Feb. 7, Feb. 6, * and related items 1974 1974 1973 1974 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 78,302 - 482 + 7,708 1/2/77,830 Held under repurchase agreements 192 - 131 + 124 -- Federal Agency obiigations— Bought outright 1,911 18 + 600 1,889 Held under repurchase agreements 2 50 f 2 — Acceptances-- Bought outright 70 + 3 14 69 Held under repurchase agreements 15 - 7 15 — Loans — Total member bank borrowing 998 - 223 234 855 Includes seasonal borrowing of: 18 + 1 + 18 18 Other borrowing -- Float 2,152 - 417 2,840 Other F.R. assets 1,362 + 33 + 40 1,469 Total Reserve Bank credit 85,004 - 876 +. 7,824 84,952 Gold stock 11,567 -_ + 1,157 11,567 Special Drawing Rights certif. acct. 400 -- „ 400 Treasury currency outstanding 8,731 4. 5 + 388 8,733 105,702 . 871 + 9,369 105,652 Cur ren cy in c ir c u 1 a t ion 69,935 + 4 + 5,658 70,393 Treasury cash holdings 349 - 10 29 342 Treasury deposits with F.R. Banks 3,084 . 15 + 66 3,119 Foreign deposits with F.R. Banks 306 - 188 + 29 232 Other deposits with F.R. Banks 4/ 689 43 + 50 740 •+- Other F.R, liabilities and capital 2,947 - 112 + 349 2,750 77,311 - 277 + 6,125 77,576 Member bank reserves: With Federal Reserve Banks 28,391 „ 594 + 3,243 | 28,077 Currency and coin 6,987 - 112 + 610 1 6,987 Total reserves held 3/ 35,445 - 706 + 3,641 1 35,131 Required reserves ~~ 35,344 - 531 + 3,658 1 35,344 Excess reserves 3/ 101 - 175 17 - 213 NOTE: A nee of $96 million of surplus reserves were eligible to be carried forward from the week ended January 30, into the week ending February 6. On February 6, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $25,114 million, an increase of $768 million for the week* 1/ Excludes $601 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $140 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 bank 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 (New York District). 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 Feb. 6,** Jan. 31, Feb. 7, 1974 1974 1973 A S S E TS Gold certificate account 11,460 +1,157 Special Drawing Rights certif. accts. * 400 Cash (1,551) 310 5 - 47 Loans 855 746 - 112 Acceptances--Bought outright?' 69 2 12 Held under repurchase agreements 83 Federal Agency obligations—Bought outright 1,889 38 + 578 Held under repurchase agreements 160 U.S. Government securities: Bought outright—Bills 36,090 985 +7,146 Certificates - Other Notes 38,591 -- +1,910 Bonds 3,149 _.- - 314 Total bought outright 1/2/ 77,830 - 985 +8«, 742 Held under repurchase agreements -- -1,020 --• Total U.S. Government securities 77,830 -2,005 +8,742 Total loans and securities 80,643 -3,030 +9,196 Cash items in process of collection (1,460) 8,165 + 588 - 707 Bank premises 224 -„ + 30 Other assets 3/ 1,245 + 96 + 135 TOTAL ASSETS (3,011) 102,447 -2,341 +9,764 ililliHIES Federal Reserve notes (1,551) 62,204 + 388 +5,304 Deposits: Member bank-reserves account 27,997 -2,353 +4,673 U. S. Treasurer--general account 3,119 + 106 - 134 Foreign 232 - 253 13 Other y 740 + 72 + 89 Total deposits 32,088 -2,428 +4,615 Deferred availability cash items (1,460) 5,405 + 52 - 293 Other liabilities and accrued dividends 965 29 + 324 TOTAL LIABILITIES (3,011) 100,662 -2,017 +9,950 C A P I T AL ACCOUNTS. Capital paid in 851 2 + 51 Surplus 844 — + 51 Other capital accounts 90 326 - 288 Contingent liability on acceptances purchased for foreign correspondents 590 + 28 + 381 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $601 million of securities sold, and scheduled to be bought back, under ~~ matched sale-purchase transactions. 2/ Includes $140 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 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 District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 6, 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 obligations ances Holdings Weekly Holdings Weekly [changes Changes Within 15 days 849 22 6,001 -1,041 -- -199 16 days to 90 days 6 47 18,533 - 659 104 — 91 days to 1 year -- 20,826 - 305 259 + 25 Over 1 year to 5 years -- 23,128 -- 795 - 24 Over 5 years to 10 years -- 7,580 -- 492 ... Over 10 years -- -- 1,762 -- 239 -- Total 855 69 77,830 -2,005 1,889 -198 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 FEBRUARY 6, 1974 New * Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Dallas York delphia land mond Louis apolis City Francisco (In millions of dollars) A S S E TS Gold certificate account | 11,460 699 2,247 739 788 780 482 2,635 66 235 318 340 2,131 Special Drawing Rights certif. acct. [ 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks I 1,551 144 316 63 127 147 172 121 43 24 40 110 244 Other cash i 310 19 28 4 35 33 44 34 21 10 33 15 34 Loans | 855 35 51 44 35 80 173 112 99 8 27 39 152 Acceptances: Bought outright 69 -- 69 — — — — -- -- -- — -- -- Held under repurchase agreements Federal Agency obligations-- Bought outright 1,889 , 86 495 102 142 139 105 291 75 40 77 85 252 Held under repurchase agreements U.S. Government securities: Bought outright-- Bills 36,090 1,642 9,473 1,954 2,710 2,658 1,996 5,567 1,425 753 1,471 1 ,618 4,823 Certificates: Other -- -- — -- -« -- -« ».«, .. Notes 38,591 1,755 10,129 2,089 2,897 2,843 2,135 5,952 1,524 806 1,573 1, 730 5,158 Bonds 3,149 ] 143 827 171 236 232 174 486 124 66 128 141 421 Total bought outright 1/ 2/ " 77,830 3,540 20,429 4,214 5,843 5,733 4,305 12,005 3,073 1,625 '3,172 __ ,.489*"" 10", 402 Held under repurchase agreements Total U.S. Government securities ~77,830 3,540 20,429 4,214 5,843 5,733 4,305 12,005 3,073 1,625 Total loans and securities 80,643 3,661 21,044 4,360 6,020 5,952 4,583 12,408 ~~ 3,247 1,673 ~3,276 "~ 3 ,613 10,806 B O C a t a h n s e k h r p i r t a e e s m m s i e s s t e s i s n 3 p / r ocess of collection 9 1, , 2 2 6 4 2 2 5 4 5 3 4 5 5 5 0 3 1, 3 76 2 1 7 8 0 39 6 1 5 8 1 47 2 8 1 7 3 97 8 1 9 2 4 1,07 6 1 8 5 5 1,2 1 7 6 1 4 1 6 4 4 2 1 7 2 4 45 3 2 5 5 7 7 4 1 1 1 6 7 6 4 2 1 9 8 2 1,0 2 8 4 7 4 8 TOTAL ASSETS 105,458 1 4,994 25,833 5,663 7,584 8,023 6,461 16,719 3,875 2,466 4,456 _L 781 14.603 U Excludes $601 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $140 million securities loaned--fully secured by U„S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Estimated (New York District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION Or EACH FIZDSEAL RESERVE BANK ON FEBRUARY 6, 1974 [ San New * Phila Cleve Rich St. iMinne- Kansas Total Boston York delphia land mond Atlanta Chic££Q Louis iapolis City jDallas Fran -1 cisco (In millions of dollars) - • L I A B I L I T I ES Federal Reserve notes 63,755 3,164 15,714 4,006 5,107 5,706 3,360 10,599 2,551 1,153 2,461 2,392 7,542 Deposits: Member bank reserves 27,997 1,124 7,287 911 1,622 1,029 1,906 4,337 765 652 1,159 1,555 5,650 U. S. Treasurer—general account 3,119 254 373 263 240 348 232 403 130 211 143 199 323 Foreign 232 11 1/ 42 12 22 14 19 40 9 6 10 14 33 Other 3/ 740 4 621 20 2 20 14 11 19 1 5 9L 14 Tot?\ deposit" 32,088 1,393 8,323 1,206 1,886 1,411 2,171 4,791 923 870 1,317 1,777 6,020 Deferred availability cash items 6,865 322 1,099 314 361 737 744 908 303 378 566 475 658 Other liabilities and accrued dividends 965 42 244 50 71 68 54 142 37 23 38 41 155 TOTAL LIABILITIES 103 5 673 4,921 25,380 7,425 •7 QOO 6,329 1 /" 1 1 r\ 3,814 2,424 4 r 382 4,685 14,375 CAPITAL ACCOJ-TTS Capital paid in 851 35 215 41 76 48 64 134 28 20 35 46 109 Surplus 844 34 215 42 74 47 62 132 29 20 35 46 108 Other capital accounts 90 4 23 4 9 6 6 13 4 2 4 4 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 105,458 4,994 25,833 5,663 7,584 8,023 _6_ J 461_ 16,719 3,875 _liA66_ 4,456 4,781 14.603 Contingent liability on ace, eptances purchased for foreign correspondents 590 24 2/150 25 ...£ZL._ 33 42_ 22_ 20. 14- .24 . W ,. J*\ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,322 16,564 4,070 5,364 5,932 3,694 10,945 2,679 1,193 2,586 2,556 8,073 Collateral for F. R. notes: Gold certificate account 175 — 400 350 700 — 700 35 -- — 5 U. S. Government securities 3,230 16,850 3,800 5.200 5.390 3.900 1Q.6QQ ? 7QO 1,0LO 2,700 2,655 8.300 r Total collateral 3,405 16,850 4,200 5,550 6,090 3,900 11,300 2,735 1,240 2,700 2,660 8,300 1/ After deducting $190 million participations of other Federal Reserve Banks. 2/ After deducting $440 million participationc 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 redepcsited in full with Federal Reserve Banks in connection with voluntary participation by non-member institutions in the FederalR eserve System's program of credit restraint. * Estimated (Nev York District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis