H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Oj^OVtjf'' FEDERAL RESERVE Factors Affecting Bank Reserves and 'f£n**v Condition Statement of F.R. Banks H.4.1 For immediate release March 14, 1974 The average of daily figure for total reserves of member banks increased $150 million in the lastest statement week to $34,752 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. Declines in Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital were the major factors providing reserves in the latest statement week. Offsetting these reserve gains was an increase in currency in circulation. System Open Market Operations absorbed $21 million reserves net, on a weekly average basis through repurchase agreements. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, March 13, March 6, March 14, March 13, and related items 1974 1974 1973 1974 Reserve Bank credit: (In millions oi: dollars) U.S. Government securities-- Bought outright—System account 77,789 - 415 +5,738 1/77,743 Held under repurchase agreements 378 + 378 + 30 1,902 Federal Agency obligations-- Bought outright 1,978 „ 21 + 690 1,953 Held under repurchase agreements 22 + 22 1 128 Acceptances — Bought outright 67 «. 2 11 67 Held under repurchase agreements 17 + 17 - 21 86 Loans— Total member bank borrowing 984 + 72 - 507 1,628 Includes seasonal borrowing of: 19 — + 19 20 Other borrowing Float 2,057 + 77 - 753 2,325 Other F.R. assets 938 + 60 + 148 1,023 Total Reserve Bank credit 84,230 + 188 +5,313 86,855 Gold stock 11,567 — +1,157 11,567 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 8,762 + 4 + 360 8,764 104,959 + 192 +6,830 107,586 Currency in circulation 71,194 + 617 +6,037 71,486 Treasury cash holdings 330 - 4 - 46 336 Treasury deposits with F.R. Banks 1,775 - 152 -2,354 1,814 Foreign deposits with F.R. Banks 277 - 51 - 58 274 Other deposits with F.R. Banks 2/ 714 + 20 + 44 735 Other F.R. liabilities and capital 2,843 - 99 + 438 2,946 77,131 + 328 +4,060 77,591 Member bank reserves: With Federal Reserve Banks 27,828 «. 136 +2,770 29,995 Currency and coin 6,857 + 286 + 636 6,857 Total reserves held 2/ 34,752 + 150 +3,194 36,919 Required reserves 34,632 + 122 +3,099 34,632 Excess reserves 2/ 120 28 2,287 NOTE: A net of $66 million of surplus reserves were eligible to be carried forward from the week ended March 6, into the week ending March 13. On March 13, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $25,825 million, an increase of $305 million for the week. y Includes $170 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Adjusted to include $67 millbn 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 $43 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. 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 Mar. 13, Mar, b, Mar. 14, 1974 1974 1973 A S S E TS Gold certificate account 1,460 ... +1,157 Special Drawing Rights certif. accts. 400 — — Cash (1,075) 290 - 8 - 74 Loans 1,628 + 784 - 195 Acceptances—Bought outright 67 — 11 Held under repurchase agreements 86 + 86 2 Federal Agency obligations—Bought outright 1,953 - 44 + 673 Held under repurchase agreements 128 + 128 + 69 U.S. Government securities: Bought outright—Bills 35,973 416 +4,034 Certificates - Other Notes 38,796 +1,957 Bonds 2.974 - 527 Total bought outright 77,743 - 416 +5,464 Held under repurchase agreements 1.902 +1.902 +1.263 Total U.S. Government securities 79,645 +1,486 +6.727 Total loans and securities 83,507 +2,440 +7,261 Cash items in process of collection (1,731) 7,996 - 485 -1,489 Bank premises 227 — + 30 Other assets Ij 796 + 108 + 115 TOTAL ASSETS (2,806) 104.676 +2.055 ±7*000 L I A B I L I T I ES Federal Reserve notes (1,705) 63,241 + 409 +5,605 Deposits: Member bank-reserves account 29,915 +1,344 +3,817 U. S. Treasurer—general account 1,814 + 286 -2,507 Foreign 274 8 - 37 Other 3/ 735 + 48 + 70 Total deposits 32,738 +1,670 +1,343 Deferred availability cash items (1,731) 5,751 - 187 - 452 Other liabilities and accrued dividends ..1,030 + 58 + 345 TOTAL LIABILITIES (2,806) 102,760 +1,950 +6,841 .CAPITAL A C C O U N TS Capital paid in 871 + 7 + 67 Surplus 844 — + 51 Other capital accounts 201 + 98 + 41 Contingent liability on acceptances purchased for foreign correspondents 557 + 51 + 390 * Figures in parentheses are the eliminations made in the consolidating process. ,1/ Includes $170 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. .3/ Includes $43 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. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 13 1974 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 1,613 96 6,976 +1,065 128 +84 16 days to 90 days 15 57 19,425 + 19 135 +72 91 days to 1 year — — 21,432 + 402 274 +26 Over 1 year to 5 years — -- 22,235 — 768 -78 Over 5 years to 10 years — — 7,780 — 537 -20 Over 10 years — — 1,797 — 239 — Total 1,628 153 79,645 +1,486 2,081 +84 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.Ub) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ONMARCH 13, 1974 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 11,460 585 1,503 705 852 1,072 746 1,852 522 236 523 628 2,236 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,075 65 297 33 64 98 145 59 20 13 29 86 166 Other cash 290 19 26 5 35 31 39 30 18 10 31 14 32 Loans 1,628 101 140 141 250 71 76 464 49 25 27 86 198 Acceptances: Bought outright 67 -- 67 — — — — -- — -- — — -- Held under repurchase agreements 86 -- 86 -- — — — — — — — — — Federal Agency obligations-- Bought outright 1,953 89 510 106 143 146 108 307 71 41 77 86 269 Held under repurchase agreements 128 -- 128 — — — -- -- -- — — — — U.S. Government securities: Bought outright-- Bills 35,973 1,647 9,394 1,948 2,624 2,682 1,994 5,646 1,309 764 1,426 1,580 4,959 Certificates: Other — -- — _- — — — -- _.. — — — — Notes 38,796 1,776 10,131 2,101 2,830 2,892 2,151 6,089 1,412 824 1,538 1,704 5,348 Bonds 2 r 974 136 776 161 217 222 165 467 108 63 118 131 410 Total bought outright \J 77,743 3,559 20,301 4,210 5,671 5,796 4,310 12,202 2,829 1,651 3,082 3,415 10,717 Held under repurchase agreements 1 1.902 — 1.902 — — — — — — -- — -- -- Total U.S. Government securities i 79,645 3,559 22,203 4,210 5,671 5,796 4,310 12,202 2,829 1,651 3,082 3,415 10,717 Total loans and securities 83,507 3,749 23,134 4,457 6,064 6,013 4,494 12,973 2,949 1,717 3,186 3,587 11,184 Cash items in process of collection 9,727 372 1,538 349 468 1,053 1,002 1,428 437 456 826 800 998 Bank premises 227 47 10 12 27 14 15 16 14 35 17 12 8 Other assets 2/ 796 29 207 39 47 47 38 100 21 16 24 27 201 TOTAL ASSETS 107,482 4,889 26,808 5,623 7,590 8,364 6,501 16,528 3,996 2,490 4,651 5,168 14,874 1/ Includes $170 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 MARCH 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 64,316 3,160 15,871 4,065 5,130 5,756 3,392 10,645 2,589 1,182 2,477 2,415 7,634 Deposits: Member bank reserves 29,915 1,046 7,942 952 1,666 1,362 2,067 4,164 853 743 1,231 1,909 5,980 U. S. Treasurer--general account 1,814 178 433 114 151 184 121 161 124 74 120 137 17 Foreign 274 10 1/ 96 12 21 13 17 38 8 5 10 13 31 Other 735 4 603 14 1 36 16 9 * 2 5 15 30 Total deposits 32,738 1,238 9,074 1,092 1,839 1,595 2,221 4,372 985 824 1,366 2,074 6,058 Deferred availability cash items 7,482 370 1,062 322 382 834 695 1,066 325 421 691 537 111 Other liabilities and accrued dividends 1,030 44 304 50 71 70 55 147 34 18 37 41 159 TOTAL LIABILITIES 105,566 4,812 26,311 5,529 7,422 8,255 6,363 16,230 3,S>33 ~7^5~ 4,571 5,067 14,628 CAPITAL ACCOUNTS Capital paid in 871 35 226 42 77 48 65 135 28 21 36 47 111 Surplus 844 34 215 42 74 47 62 132 29 20 35 46 108 Other capital accounts 201 8 56 10 17 14 11 31 6 4 9 8 27 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 107,482 4,889 26,808 5,623 7,590 8,364 6,501 16,528 3,996 2,490 4,651 5,163 14,874 Contingent liability on ac<? ept- _ _ ances purchased for fore Lgn c or r e s ponden t s _ L 657L _ 27 _ 27168 32 58 37 48 103 22 15 27 36 84 FEDERAL RESERVE AGENTS1 ACCOUNTS F, R. notes outstanding 3,28S 16,728 4,121 5,297 5,932 3,671 10,892 .,21/ " T^QT^T^m TTUW Collateral for F. R. notes: Gold certificate account 175 — 400 350 625 700 50 U. S. Government securities 3,230 17,050 3,800 5,200 5,390 3,900 10,600 2,735 1,240 2,700 2,655 8,300 Total collateral 3,405 17,050 4,200 5,550 6,015 3,900 11,300 2,785 1,240 2,700 27560 8,300 1/ After deducting $ 178 million participations of other Federal Reserve Banks, 2J After deducting $489 million participations of other Federal Reserve Banks. * Less than $500,000. 3/ Includes $43 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 institit ions in the Federal Reserve System's program of credit restraint. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis