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 April 4, 1974 The average of total reserves of member banks increased $764 million in the latest statement week to $35,511 million. Required reserves and excess reserves increased while member bank borrowings at Federal Reserve Banks declined. An increase in currency in circulation was the major factor absorbing reserves in the latest statement week. Offsetting this reserve drain were an increase in float and a decline in Treasury deposits with Federal Reserve Banks. In addition, System Open Market Operations provided $495 million reserves net, on a weekly average basis, through repurchase agreements. Averages of daily figures Member Dank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 3, * —rMja,:rvclht .—2T/7, " ' r A - p ; ril r ? 4 —i , April 3,* and related items 1974 1974 1973 1974 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 78,360 157 +5,236 1778,360 Held under repurchase agreements 734 146 30 Federal Agency obligations-- Bought outright 2,123 + 24 843 2,123 Held under repurchase agreements 113 + 83 58 Acceptances-- Bought outright 73 1 3 74 Held under repurchase agreements 156 86 101 Loans — Total member bank borrowing ,503 210 252 ,115 Includes seasonal borrowing of: 48 4 48 46 Other borrowing Float ,824 102 33 ,622 Other F.R. assets ,059 56 121 ,048 Total Reserve Bank credit 85,945 + 443 +6,039 85,342 Gold stock 11,567 +1,157 11,567 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 8,784 12 357 8,797 106,696 455 +7,552 106,106 Currency in circulation 71,362 245 +5,981 71,769 Treasury cash holdings 340 5 69 340 Treasury deposits with F.R, Banks 1,889 428 -1,228 2,426 Foreign deposits with F.R. Banks 372 65 + 54 264 Other deposits with F.R. Banks 3/ 701 32 + 29 727 Other F.R* liabilities and capital 3,105 12 + 443 2,757 77,768 70 +5,209 78,283 Member bank reserves: With Federal Reserve Banks 28,928 524 +2,344 27,823 Currency and coin 6,525 249 + 667 6,525 Total reserves held 2/ 35,511 + 764 +2,897 34,406 Required reserves 35,214 + 614 +3,136 35,214 Excess reserves 2/ 297 + 150 - 239 - 808 NOTE: A net of $105 million of surplus reserves were eligible to be carried forward from the week ended March 27, into the week ending April 3. On April 3, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $26,662 million, an increase of $545 million for the week. 1/ Includes $84 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Adjusted to include $58 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 $31 million of certain deposits of domestic nonmember banks and foreignowned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by nonmember insti tutions in the Federal Reserve System's program of credit restraint. Estimated (Chicago 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 April 3, ** [Mar. 27, |April 4, 3,974 -IS ZiL . 1973 A S S E TS Gold certificate account 11,460 — +1,157 Special Drawing Rights certif. accts. 400 _.- -- Cash (1,038) 267 5 - 76 Loans 1,115 - 919 + 33 Acceptances—Bought outright 74 .- 1 Held under repurchase agreements -- 56 -- Federal Agency obligations--Bought outright 2,123 -- + 843 Held under repurchase agreements -- 24 — U.S. Government securities: Bought outright--Bills 36,400 + 702 +3,527 Certificates - Other Notes 38,956 +2,117 Bonds 3,004 - 497 Total bought outright 78,360 + 702 +5,147 Held under repurchase agreements - 371 Total U.S. Government securities 78,360 + 331 +5,147 Total loans and securities 81,672 - 668 +6,022 Cash items in process of collection 8,149 + 807 -1,107 Bank premises (1,613) 230 + 2 + 31 Other assets 2/ 818 + 17 + 68 TOTAL ASSETS (2,651) 102,996 + 153 +6,095 LIABILITIES, Federal Reserve notes "" (1,038) 63,472 + 365 +5,418 Deposits: Member bank-reserves account 27,743 - 569 +2,079 U. S. Treasurer--general account 2,426 + 332 -1,170 Foreign 264 91 7 Other 3/ 727 + 44 + 91 Total deposits 31, 160 284 + 993 Deferred availability cash items (1,613) 5 ,607 388 - 382 Other liabilities and accrued dividends 971 16 + 262 TOTAL LIABILITIES (2,651) ,101,210 + 453 +6,291 C A P I TA L A C C O U N TS Capital paid in 872 + 64 Surplus 844 + 51 Other capital accounts 70 300 - 311 Contingent liability on acceptances purchased for foreign correspondents 706 + 24 + 421 * Figures in parentheses are the eliminations made in the consolidating process. \J Includes $84 million securities loaned-r-fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 3/ Includes $31 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. k* Estimated (Chicago District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRTL 3 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 1,088 30 5,839 +374 -- -24 16 days to 90 days 27 44 19,691 +740 135 91 days to -1 year -- 20,828 -783 275 Over 1 year to 5 years — 22,344 -- 821 Over 5 years to 10 years — 7,836 — 608 Over 10 years -,- "1,822 ..- 284 Total 1,115 74 78,360 +331 2,123 -24 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 APRIL 3, 1974 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago* Louis apolis City Dallas Francisco 0! n millions of dollars) A S S E TS Gold certificate account 11,460 573 2,698 741 804 1,026 702 1,779 386 182 451 492 1,626 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,038 61 299 40 52 91 159 60 18 16 31 82 129 Other cash 267 17 24 3 34 28 38 27 17 8 30 14 27 Loans 1,115 66 369 68 170 90 84 91 57 11 55 37 17 Acceptances: Bought outright 74 — 74 — — — — — « — — — — Held under repurchase agreements — -- — — — — -- -- -- -_ -- -- — Federal Agency obligations— Bought outright 2,123 99 543 118 157 158 117 343 79 47 83 90 289 Held under repurchase agreements "- -- -- — — — -- -- -- -- — -- — U.S. Government securities: Bought outright— Bills i 36,400 1,703 9,311 2,016 2,685 2,717 2,015 5,878 1,348 803 1,428 1,538 4,958 Certificates: Other -- -- -- — -- • - • . -- _- .. ... -_ __ Notes 38,956 1,823 9,965 2,157 2,875 2,907 2,156 6,291 1,443 859 1,528 1,646 5,306 Bonds ! 3,004 141 769 166 222 224 166 485 111 . 66 118 127 409 Total bought outright 1/ 78,360 3,667 20,045 4,339 5,782 5,848 4,337 12,654 2,902 1,728 3,074 3,311 10,673 Held under repurchase agreements — -- -- -- -. — -- -. — — — — .. Total U.S. Government securities 78,360 3,667 20,045 4,339 5,782 5,848 4,337 12,654 2,902 1,728 3,074 3,311 10,673 Total loans and securities 181,672 13,832 21,031 4,525 6,109 6,096 4,538 13,088 3,038 1,786 3,212 3,438 10,979 Cash items in process of collection 9,762 375 1,719 362 510 1,096 1,023 1,212 446 437 723 730 1,129 Bank premises ! 230 49 10 13 27 14 15 16 14 35 17 12 8 Other assets 2/ 818 - ..36 208 ,52 - 53 ,59 . 47 - 120 32 22 29 .. 32 128 TOTAL ASSETS [L05,647 4,966 26,082 5,759 7,622 8,446 6,544 16,372 3,966 2,493 4,508 4,814 14,075 1/ Includes $84 million securities loaned- -fully secured by U.S. Government securities pledged with Federal Reserve Banks, l_l Includes assets denominated in foreign currencies. * Estimated (Chicago District) . 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 APRIL 3, 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 64,510 3,152 15,951 4,072 5,139 5,764 3,387 10,661 2,603 1,194 2,474 2,425 7,688 Deposits: Member bank reserves f 27,743 1,127 7,342 1,063 1,645 1,266 2,004 4,125 790 722 1,130 1,582 4,947 U. S. Treasurer—general account 2,426 1 192 373 136 163 345 236 222 147 95 138 147 232 Foreign 264 10 1/ 71 13 23 15 19 41 9 6 10 14 33 Other 3/ 727 5 568 21 4 29 17 25 3 2 10 15 28 Total deposits 31,160 1,334 8,354 1,233 1,835 1,655 2,276 4,413 949 825 1,288 1,758 5,240 Deferred availability cash items 7,220 363 1,070 316 416 858 695 869 320 408 634 496 775 Other liabilities and accrued dividends 971 46 242 52 75 70 54 1ST 34 23 37 40 145 TOTAL LIABILITIES 103,861 4,895 25,617 5,673 7,465 8,347 6,412 16,096 3,906 2,450 4,433 4,719 13,848 CAPITAL ACCOUNTS Capital paid in 872 35 227 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 70 2 23 2 6 4 5 9 3 2 4 2 8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 105,647 1 4,966 26,082 5,759 7 f 622 8,446 6,544 L6.372 3.966 2,493 4.5Q8 4,814 3L 4 f Q75 Contingent liability on acee ptances purchased for foreign | correspondents 706 J 29 2/180 35 62 40 51 111 24_ lfi_ 29 22_ _9A.- FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,260 16,827 4,142 5,310 5,954 3,666 10,878 2,733 1,245 2,613 2,590 8,034 Collateral for F. R. notes: Gold certificate account 175 — 400 350 625 — 700 50 — — 5 U. S. Government securities 3,230 17,050 3,800 5,200 5,390 3,900 10.600 2.735 1.280 2.700 2,655 8,300 Total collateral 3,405 17,050 4,200 5,550 6,015 3,900 11,300 2,785 1,280 2,700 2,660 8,300 1/ After deducting $193 million participations of other Federal Reserve Banks. "5? After deducting $526 million participations of other Federal Reserve Banks. 3/ Includes $31 million of certain deposits of domestic nonmember banks and foreign-owned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by nonmember institutions in the Federal Reserve System's program of credit restraint. * Estimated (Chicago District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis