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 11, 1974 The average of daily figures for total reserves of member banks declined $341 million in. the latest statement week to a level of $35,179 million. Required and excess reserves as well as member bank borrowings from Federal Reserve Banks all declined in the latest week. A decline in Treasury deposits at Federal Reserve Banks and an increase in float were the major factors providing reserves in the latest week. An increase in currency in circulation absorbed & sizable amount of reserves. In addition, System Open Market Operations absorbed $785 million of reserves, on a weekly average b.?.r:is, primarily through repurchase agreements. Averages of daily Jf igures Member Dank reserves, Week ended Chan ge from week ended Wednesday, Reserve Bank credit, April 10, Apri l 3", " April 11, April 10, and related items 1974 * 1974 1973 1974 * Reserve Ihnk credit: (In millions of dollars) U.S. Government securities-- Bought outright--System account 78,362 + 2 +5,052 1/78,355 Held under repurchase af*rcc-nents 176 - 558 + 101 — Federal Agency oblifvitions-- -- Bought outright 2,123 + 847 2,123 Held under repurchase agreements 14 99 25 — Acceptances-- Bought outright 74 + 1 2 73 Held under repurchase agreements 25 - 131 + 19 -- Loans-- Total member bank borrowing 1,195 - 308 - 304 1,287 Includes seasonal borrowing of: 41 - 7 + 41 42 Other borrowing Float 2,208 + 374 - 145 2,637 Other F.R. assets 1,106 + 46 + 138 1,118 Total Reserve Bank credit 85,283 - 673 +5,681 85,593 Gold stock 11,567 -. +1,157 11,567 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 8,800 + 16 + 363 8,801 106,050 - 657 +7,201 106,361 Currency in circulation 72,007 + 646 +6,101 72,622 Treasury cash holdings 326 - 14 87 313 Treasury deposits with F.R. Banks 1,354 - 535 -2,084 1,277 Foreign deposits with F.R. ftsnks 300 - 72 + 21 339 Other deposits with F.R. Banks 3 723 + 19 + 74 748 Other F.R. liabilities and capital 2,854 - 251 + 215 2,917 77,564 - 206 +4,241 78,216 Mr bcr bank reserves: With Federal Reserve Banks 28,486 „ 451 +2,960 28,144 Currency mid coin 6,635 + 110 + 576 6,635 Total reserves held 2/ 35,179 - 341 +3,422 34,837 Required reserves 34,943 - 271 +3,095 34,943 Excess reserves 2/ 106 NOTE: A net of $143 million of surplus reserves were eligible to be carried forward from the week ended April 3, into the week ending April 10. On April 10, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $26,875 millien, an increase of $213 million for the week. 1/ Includes $146 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 institutions in the Federal Reserve System's program of credit restraint. k Estimated (Boston and Dallas Districts). 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) Wedn esday Change since AprL I 10,** April 3, April 11, 1974 1974 1973 A S S E TS Gold certificate account 11, 460 +1,157 Special Drawing Rights certif. accts. 400 — — Cash ( 819) 258 9 81 Loans 1, 287 + 172 + 46 Acceptances—Bought outright 73 1 2 Held under repurchase agreements Federal Agency obligations—Bought outright 2,123 851 Held under repurchase agreements U.S. Government securities: Bought outright--Bills 36,395 +3,657 Certificates - Other Notes 38,956 — +2,117 Bonds 3,004 — - 497 Total bought outright 78,355 - 5 +5,277 Held under repurchase agreements -- _• -- Total U.S. Government securities 78,355 - 5 +5,277 Total loans and securities 81,838 + 166 +6,172 Cash items in process of collection (1,536) 8,006 - 251 - 586 Bank premises 230 ..- + 31 Other assets 7j 888 + 65 + 77 TOTAL ASSETS (2,355) 103,080 29 +6,770 L I A B I L I T I ES Federal Reserve notes ( 819) 64,286 + 821 +5,733 Deposits: Member bank-reserves account 28,064 + 260 +2,911 U. S. Treasurer--general account 1,277 -1, 149 -2,256 Foreign 339 + 75 + 72 Other 3/ 748 -- + 45 Total deposits 30,428 - 814 + 772 Deferred availability cash items (1,536) 5,449 - 196 - 199 Other liabilities and accrued dividends 1,034 + 63 + 318 TOTAL LIABILITIES (2,355) 101,197 - 126 +6,624 C A P I T AL A C C O U N TS Capital paid in 872 -. + 63 Surplus 844 — + 51 Other capital accounts 167 Y 97 + 32 Contingent liability on acceptances purchased for foreign correspondents 597 9 4. 335 * Figures in parentheses are the eliminations made in the consolidating process. \_l Includes $146 million securities loaned--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 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 (Boston and Dallas District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 10, 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 1,260 19 5,547 -292 48 +48 16 days to 90 days 27 51 19,229 -462 87 -48 91 days to 1 year — 3 21,577 +749 275 — 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 1,287 73 78,355 - 5 2,123 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 APRIL 10, 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 11,460 366 3,013 766 840 597 342 1,383 320 211 338 543 2,741 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 819 43 249 22 32 73 134 35 17 14 29 73 98 Other cash 258 18 23 2 32 25 38 27 17 8 28 14 26 Loans 1,287 72 270 105 166 122 162 152 74 6 102 29 27 Acceptances: Bought outright 73 — 73 -- — — — -- — — — — — 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 36,395 1,703 9,310 2,015 2,685 2,717 2,015 5,877 1,347 803 1,428 1 ,538 4,957 Certificates: Other -- -- --. _- -- -- -- -- -- -- __ ._ -_ N B o o t n e d s s 38 3 , 9 0 5 0 6 4 1,8 1 2 4 3 1 9,9 7 6 6Q 5 2,1 1 5 6 7 6 2,8 9 7 99 5 2, ' 9 2 0 2 7 4 2,1 1 5 6 6 6 6,291 _ Mil 8^>g _iiili_ 1 iiii_ 5»286 Total bought outright 1/ 78,355 3,667 20,044 4,338 5,782 5,848 4,337 12,653 2,901 1 ,728 3,074 3 ,311 10,672 Held under repurchase agreements -- -- -- -- -- -- -- -- -" — -- --» 2J5 , Total U.S. Government securities 78,355 3,667 20,044 4,338 5,782 5,848 4,337 12,653 2,901 L .728 3,074 3 .311 10.672 Total loans and securities 81,838 3,838 20,930 4,561 6,105 6,128 4,616 13,148 3,054 1 ,781 3,259 3 ,430 10,988 Cash items in process of collection 9,542 375 1,357 362 453 1,140 1,022 1,334 423 430 760 735 1,151 Bank premises 230 49 10 13 27 14 15 16 14 35 17 12 8 Other assets 2/ ftfift ^ 216 59 59 68 48 129 29 22 33 47 140 TOTAL ASSETS 105,435 4,750 25,891 5,808 7,581 8,081 6,237 16,142 3,889 2 ,508 4,479 4 ,868 15,201 17 Includes $146 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. .2/ Includes assets denominated in foreign currencies. * Estimated (Boston and Dallas Districts). 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 10, 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 65,105 3,193 16,049 4,116 5,186 5,791 3,438 10,761 2,637 1,212 2,492 2,446 7,784 Deposits: Member bank reserves 28,064 964 7,162 1,090 1,655 1,153 1,816 3,832 734 791 1,183 1,578 6,106 U. S. Treasurer—general account 1,277 104 224 109 106 145 87 127 101 35 57 81 101 Foreign 339 12 1/115 15 27 17 22 47 10 7 12 17 38 Other 3/ 748 3 600 12 2 31 17 20 3 1 9 14 36 Total deposits 30,428 1,083 8,101 1,226 1,790 1,346 1,942 4,026 848 834 1,261 1,690 6,281 Deferred availability cash items 6,985 351 996 320 366 758 661 897 304 392 610 592 738 Other liabilities and accrued dividends 1,034 48 254 54 75 79 59 166 37 25 38 42 157 TOTAL LIABILITIES 103,552 4,675 25,400 5,716 7,417 7,974 6,100 15,850 3,826 2,463 4,401 4,770 14,960 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 167 6 49 8 13 12 10 25 6 4 7 5 22 TOTAL LIABILITIES AND CAPITAL ACCOUNTS L05,435 4,750 25,891 5,80S 7,581 8,081 6,237 16,142 3 9 889 2,506 4,479 4-^866 _15,201 Contingent liability on ace: eptances purchased for foreign correspondents 697 29 2/178 34 61 39 51 IQg la- 23— 3£L 89 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 67,543 3,313 16,846 4,180 5,315 5,965 3,660 10,955 2,747 1,261 2,615 2,583 8,103 Collateral for F. R. notes: Gold certificate account 2,250 100 — 450 350 595 — 700 50 — — 5 U. S. Government securities 66,840 -1*230 17,050 3,800 5.200 5.390 3 9QQ 10 600 2 7^S 1 7ftO 9 7QO 2,655 8.300 r r r J Total collateral 69,090 3,330 17,050 4,250 5,550 5,985 3,900 11,300 2,785 1,280 2,700 2,660 8,300 JL/ After deducting $ 224 million participations of other Federal Reserve Banks. 2/ After deducting $ 519 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 institution s in the Federal Reserve System's program of credit restraint. * Estimated (Boston and Dallas Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis