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 14, 1974 The average of daily figures for total reserves of member banks declined $78 million in the latest statement week to $35,367 million. Required reserves declined while excess reserves and member bank borrow ings at Federal Reserve Banks increased. Major factors absorbing reserves in the latest statement week were increases in currency in circulation and Treasury deposits with Federal Reserve Banks. Partially offsetting these reserve drains were increases in float and other Federal Reserve assets and a decline in other Federal Reserve liabilities and capital. In addition, System Open Market Operations provided $270 million reserves net, on a weekly average basis, through outright purchases of Treasury bills and repurchase agree ments. Averages of daily figures Member bank reserves. Week ended Change from week endedjW ednesday, Reserve Bank credit, Feb. 13, Feb . 6, Feb . 14, Feb. 13, and related items 1974 1974 1973 | 1974 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 78,562 + 260 + 7,989 1/78,823 Held under repurchase agreements 208 + 16 + 46 1,458 Federal Agency obligations-- Bought outright 1,889 , 22 + 578 1,889 Held under repurchase agreements 19 17 + 7 130 Acceptances — Bought outright 70 __ 7 71 Held under repurchase agreements 14 1 18 100 Loans-- Total member bank borrowing 1,153 + 155 _ 839 2,499 Includes seasonal borrowing of: 15 - 3 + 15 16 Other borrowing Float 2,285 + 133 + 119 2,030 Other F.R. assets 1,462 + 100 + 125 1 1,543 Total Reserve Bank credit 85,662 + 658 + 8,001 | 88,543 Gold stock 11,567 -- + 1,157 11,567 Special Drawing Rights certif * acct. 400 _- -- 400 Treasury currency outstanding 8,747 + 16 + 400 8,749 106,376 + 674 + 9,558 109,259 Currency in circulation 70,500 + 565 + 5,827 1 70,810 Treasury cash holdings 343 - 6 . 35 343 Treasury deposits with F.R. Banks 3,431 + 347 + 198 2,987 Foreign deposits with F.R. Banks 256 - 50 - 34 258 Other deposits with F.R. Banks 3/ 664 - 25 + 50 700 Other F.R. liabilities and capital 2,806 - 141 + 410 2,912 77,999 + 688 + 6,415 78,010 Member bank reserves: With Federal Reserve Banks 28,377 ~ 14 + 3,142 31,249 Currency and coin 6,923 - 64 + 628 6,923 Total reserves held 2/ 35,367 - 78 •¥ 3,558 38,239 Required reserves 35,048 - 296 + 3,426 35,048 Excess reserves 2/ 319 + 218 + 132 3,191 NOTE: A net of $42 million of surplus reserves were eligible to be carried forward from the week ended February 6, into the week ending February 13. On February 13, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $24,769 million, a decrease of $345 million for the week. 1/ Includes $76 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 $35 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 System1s 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 Feb. 13, Feb. 6, Feb. 14, 1974 1974 1973 A S S E TS Gold certificate account 11,460 +1,157 Special Drawing Rights certif. accts. * 400 — •• Cash (1,316) 309 1 - 55 Loans 2,499 +1,644 - 266 Acceptances—Bought outright 71 + 2 5 Held under repurchase agreements 100 4- 100 - 54 Federal Agency obligations—Bought outright 1,889 -- + 578 Held under repurchase agreements 130 4- 130 + 89 U.S. Government securities: Bought outright—Bills 37,083 + 993 +6,654 Certificates - Other Notes 38,591 :: +1,910 Bonds J^149 — - 314 Total bought outright 78,823 4-. 993 +8,250 Held under repurchase agreements 1,458 4-1,458 + 864 Total U.S. Government securities 80,281 +2,451 +9,114 Total loans and securities 84,970 44,327 +57536 Cash items in process of collection (1,561) 7,786 - 379 -1,333 Bank premises 224 -• + 29 Other assets 2/ 1,319 + 74 + 117 TOTAL ASSETS (2,877) 106,468 +4,021 +9,371 L l A S I I i l i lE s Federal Reserve notes (1,316) 62,607 + 403 +5,387 Deposits: Member bank-reserves account 31,169 +3,172 +4,210 U. S. Treasurer—general account 2,987 - 132 + 178 Foreign 258 + 26 74 Other 3/ 4) 699 - 41 + 84 Total deposits 4) 35,113 +3,025 +4,398 Deferred availability cash items (1,557) 5,836 + 431 - 858 Other liabilities and accrued dividends 1,026 + 61 + 297 TOTAL LIABILITIES (2,877) 104,582 +3,920 +9,224 £ A L 11 A k A££MH1£ Capital paid in 851 + 50 Surplus 844 — + 51 Other capital accounts 191 + 101 + 46 Contingent liability on acceptances purchased for foreign correspondents 598 + 8 4- 376 1/ Includes $76 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 3/ Includes $35 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. FEBRUARY 13 1Q74. r (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 2,488 121 7,543 +1,542 138 +138 16 days to 90 days 11 50 18,425 - 108 96 - 8 91 days to 1 year — — 21,843 +1,017 259 -• Over 1 year to 5 years — -- 23,128 -. 795 -- Over 5 years to 10 years -- -- 7,580 -- 492 -- Over 10 years -^ -- 1,762 — 239 — Total 2,499 171 80,281 +2,451 2,019 +130 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.Ub) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 13, 1974 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Da lias Francisco (In millions of dollars) A S S E TS Gold certificate account 11,460 450 2,632 972 860 815 550 2,249 266 273 325 534 1,534 Special Drawing Rights certif. acct. j 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,316 100 284 38 107 137 152 88 30 18 36 108 218 Other cash 309 19 28 4 35 34 44 34 20 10 32 15 34 Loans 2,499 141 769 55 34 213 122 580 110 10 9 „„ 456 Acceptances: Bought outright 71 — 71 -- __ -- — -- — -- -- -- -- Held under repurchase agreements 100 ! -- 100 — _- — .- _- _- _- -- -- -.. Federal Agency obligations— Bought outright 1,889 86 495 102 142 139 105 291 75 40 77 85 252 Held under repurchase agreements 130 -- 130 -- -- -- -- -- -- -~ -- -- _._ U.S. Government securities: Bought outright-- Bills 37,083 1,687 9,733 2,007 2,785 2,732 2,051 5,720 1,464 774 1,511 1 ,663 4,956 Ccitificates: 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/ 78,823 3,585 20,689 4,267 5,918 5,807 4,360 12,158 3,112 1,646 3,212 T • 534 10,535 Held under repurchase agreements 1 1,458 -- 1,458 -- -- -- -- -_ -- .„ -- .- -- Total U.S. Government securities 80,281 3,585 22,147 4,267 5,918 5,807 4,360 12,158 3,112 1,646 3,212 ~3 ,534 10,535 Total loans and securities | 84,970 3,812 23,712 4,424 6,094 6,159 4,587 13,029 3,297 1,696 3,298 3 ,619 11,243 Cash items in process of collection 9,347 307 1,442 388 466 958 1,102 1,356 356 422 716 749 1,085 Bank premises 224 45 10 11 27 14 15 16 14 35 17 12 8 Other assets 2/ 1,319 119 351 69 88 88 66 176 , 44 ... 26 45 51 196 TOTAL ASSETS 109,345 | 4,875 28,552 5,929 7,710 8,241 6,538 17,018 4,042 2,487 4,484 5 ,102 14,367 1/ Includes $76 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated 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 FEBRUARY 13, 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 63,923 3,153 15,795 4,028 5,113 5,717 3,370 10,619 2,554 1,158 2,462 2,393 7,561 Deposits: Member bank reserves 31,169 1,127 9,723 1,032 1,704 1,207 1,914 4,618 852 699 1,151 1,833 5,309 U. S. Treasurer—general account 2,987 217 379 273 210 293 275 204 236 169 155 220 356 Foreign 258 10 1/ 79 12 21 13 17 38 8 6 10 13 31 Other 3/ 703 4 579 17 3 27 18 22 4 2 5 8 14 Total deposits 35,117 1,358 10,760 1,334 1,938 1,540 2,224 4,882 1,100 876 1,321 2,074 5,710 Deferred availability cash items 7,393 243 1,216 424 419 805 749 1,074 286 387 584 489 717 Other liabilities and accrued dividends 1,026 44 301 50 74 70 S7 UiR 37 22 40 46 137 TOTAL LIABILITIES 107,459 4,798 28,072 5,836 7,544 8,132 6,400 16,723 3,977 2,443 4,407 5,002 14,125 CAPITAL ACCOUNTS 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 191 8 50 10 16 14 12 29 8 4 7 8 25 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 109,345 4,875 28,552 5,929 7,710 8,241 6,538 17,018 4,042 2,48-7 4,484 5.1Q2 14.367 Contingent liability on ace: eptances purchased for foreign correspondents 598 1 25 2/152 29 53 33 44 94 2Q__ 14_ _2i._ ai Zfi FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,318 16,594 4,093 5,342 5,940 3,690 10,918 2,674 1,188 2,575 2,552 8,042 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 10.600 2.700 1.240 2.700 2,655 8,300 Total collateral 3,405 16,850 4,200 5,550 6,090 3,900 11,300 2,735 1,240 2,700 2,660 8,300 1/ After deducting $ 179 million participations of other Federal Reserve Banks. 2/ After deducting $ 446 million participations of other Federal Reserve Banks. 3/ Includes $35 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. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis