H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE :* R : ]^&£:*±fr>- Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release April 18, 1974 The average of daily figures for total reserves of member banks increased $1,129 million in the latest statement week to a level of $36,308 million. Required reserves, excess reserves and member bank borrowings from Federal Reserve Banks all increased. Major factors absorbing reserves in the latest statement week were increases in currency in circulation, foreign deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital. Partially offsetting these reserve drains was an increase in float. In addition, System Open Market Operations provided $962 million reserves net, on a weekly average basis through outright purchases of Treasury bills and repurchase agreements. Averages of daily figures Member Dink reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 17, April 10, April 18, April 17,* and related items 1974 * 1974 1973 1974 Reserve Bank credit: (In millions of dollars) U.S. Government securities- Bought outright—System account 78,528 166 +4,934 i/78,559 Held under repurchase agreements 850 674 + 369 470 Federal Agency obligations-- Bought outright 2,123 851 2,123 Held under repurchase agreements 105 91 32 43 Acceptances — Bought outright 73 1 5 76 Held under repurchase agreements 57 32 30 19 Loans — Total member bank borrowing 1,817 622 31 1,285 Includes seasonal borrowing of: 47 6 47 46 Other borrowing Float 2,699 486 371 2,797 Other F.R. assets 1,135 31 110 1,287 Total Reserve Bank credit 87,387 +2,101 +6,660 86,659 Gold stock 11,567 +1,157 11,567 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 8,803 + + 359 8,803 108,157 +2,104 +8,176 107,429 Currency in circulation 72,616 + 608 +6,281 72,723 Treasury cash holdings 303 23 - 110 293 Treasury deposits with F.R. Banks 1,299 55 -1,805 902 Foreign deposits with F.R. Banks 439 + 139 + 167 368 Other deposits with F.R. Banks 3/ 695 30 + 8 670 Other F.R. liabilities and capital 3,010 + 156 + 481 2,895 78,361 + 794 +5,022 77,851 Member bank reserves: With Federal Reserve Banks 29,796 +1,310 +3,154 29,577 Currency and coin 6,454 181 + 641 6.454 Total reserves held 2/ 36, 308 +1,129 +3 ,681 36,089 Required reserves 35, 914 + 971 +3 ,524 35,914 Excess reserves 2/ 394 + 158 + 157 175 NOTE A net of $38 million of surplus reserves were eligible to be carried forward from the week ended April 10, into the week ending April 17. On April 17, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,153 million, an increase of $278 million for the week. 1/ Includes $143 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 $32 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 (Dallas 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 17,* April « April 18., 1974 1974 1973 A S S E TS Gold certificate account 11,460 .. +1,157 Special Drawing Rights certif. accts. * 400 — -- Cash 889) 247 - 11 84 Loans 1,285 - 2 -1,875 Acceptances—Bought outright 76 + 3 3 Held under repurchase agreements 19 + 19 - 67 Federal Agency obligations—Bought outright 2,123 — + 851 Held under repurchase agreements 43 + 43 - 208 U.S. Government securities: Bought outright—Bills 36,599 + 204 +3,178 Certificates - Other Notes 38,956 +2, 117 Bonds 3,004 497 Total bought outright 1/ 78,559 + 204 +4 ,798 Held under repurchase agreements 470 + 470 -1 ,199 Total U.S. Government securities 79.029 + 674 +3 ,599 Total loans and securities 82,575 + 737 +2 ,297 Cash items in process of collection (2,077) 9,579 +1, 642 781 Bank premises 232 + 2 + 32 Other assets 2/ 1.055 + 179 + 167 TOTAL ASSETS (2,966) 105,548 +2, 549 +2 788 tlAIIL i TIES Federal Reserve notes ( 889) 64,354 + 57 +5,635 Deposit*: Member bank-reserves account 29,497 +1,433 -1,305 U. S. Treasurer—general account 902 - 375 -1,885 Foreign 368 + 29 + 105 Other 3/ 670 88 + 12 Total deposits 31,437 + 999 -3,073 Deferred availability cash items (2,077) 6,862 +1,516 - 95 Other liabilities and accrued dividends 1,048 + 14 + 296 TOTAL LIABILITIES (2,966) 103,701 +2,586 +2,763 £ A £ I 1 A L A C C O U N TS Capital paid in 872 «•» + 59 Surplus 844 — + 51 Other capital accounts 131 37 - 85 Contingent liability on acceptances purchased for foreign correspondents 69 g + ^ + 353 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $143 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. %J Includes assets denominated in foreign currencies. II Includes $32 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. Estimated (Dallas District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRTL 17, 1Q74 (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 i 264 36 5,459 - 88 91 +43 16 days to 90 days 21 56 19,874 +645 87 91 days to 1 year 3 21,694 +117 275 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 lj285 95 791,029 +674 2,166 +43 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.Hb) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 17, 1974 Total Boston N Yo e r w k d P e h l i p la hi a C l l a e n v d e m R o i n c d h Atlanta Chicago L S o t u . i s M a i p n o n l e i s K C a i n t s y a s Dallas *\ S F a ra n n cisco (In millions of dollars) A S S E TS Gold certificate account 11,460 36 2,947 473 918 638 460 1,916 567 180 367 442 2,316 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 889 44 264 24 34 82 146 51 22 14 30 64 1.14 Other cash 247 16 20 3 31 26 37 25 16 28 13 24 Loans 1,285 220 150 155 216 162 77 27 13 93 82 22 Acceptances: Bought outright 76 76 Held under repurchase agreements 19 19 Federal Agency obligations-- Bought outright 2,123 99 543 118 157 158 117 343 79 83 90 289 Held under repurchase agreements 43 43 U.S. Government securities: Bought outright-- Bills 36,599 1,712 9,362 2,027 2,700 2,732 2,026 5,910 1,355 808 1,436 1,546 4,985 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_/ 78,559 3,676 20,096 4,350 5,797 5,863 :"4,348 12,686 2,909 1,733 3,082 3,319 10,700 Held under repurchase agreements 470 470 Total U.S. Government securities 79,029 3,676 20,566 4,350 5,797 5,863 4,348 12,686 2,909 1,733 3,082 3,319 10,700 Total loans and securities 82,575 3,843 21,467 4,618 6,109 6,237 4,627 13,106 3,015 1,793 3,258 3,491 11,011 Cash items in process of collection 11,656 519 1,971 608 608 1,347 1,122 1,692 477 475 833 667 1,337 Bank premises 232 50 10 14 27 14 15 16 14 35 17 12 8 Other assets 2/ 1,055 130 241 54 64 70 51 148 31 23 34 41 168 TOTAL ASSETS 108,514 4,861 27,013 5,817 7,824 8,450 6,480 17,024 4,157 2,535 4,582 4,744 15,027 17 Includes $143 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 27 Includes assets denominated in foreign currencies. * Edtimated (Dallas 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 17, 1974 * San New Phila Cleve Rich St. Minne Kansas 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 65,243 3,211 16,084 4,140 5,204 5,801 3,435 10,784 2,638 1, 216 2,492 2,452 7,786 Deposits: Member bank reserves 29,497 936 8,055 937 1,799 1,245 1,955 4,386 934 755 1,231 1,533 5,731 U. S. Treasurer—general account 902 57 154 52 41 64 102 86 94 35 6 85 126 Foreign 368 12 1/152 14 25 16 21 46 10 7 12 16 37 Other 3/ 670 7 524 11 2 30 17 14 3 2 8 26 26 Total deposits 31,437 1,012 8,885 1,014 1,867 1,355 2,095 4,532 1,041 799 1,257 1,660 5,920 Deferred availability cash items 8,939 516 1,285 519 515 1,117 757 1,262 380 452 719 490 927 Other liabilities and accrued dividends 1,048 48 278 54 76 73 58 160 36 24 38 44 159 TOTAL LIABILITIES 106,667 4,787 26,532 5,727 7,662 8,346 6,345 16,738 4,095 2 ,491 4,506 4,646 14,792 ' 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 ^s 46 i r\a Other capital accounts 131 5 39 6 11 9 8 19 5 3 5 5 16 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 108,514 4,861 27,013 _5^817_ 7,824 8,450 6,480 17,024 4,157 2,, 535 4.582 4,744 15.027 Contingent liability on ace: eptances purchased for foreign correspondents 698 29 27178 34 61 39 51 110 24 16 29 38 89 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 67,983 3,305 16 944 4,189 5,377 6,001 3,689 11,019 2,762 1,267 2,637 2,628 8,165 Collateral for F. R. notes: Gold certificate account 2,250 100 450 350 595 700 50 5 U. S. Government securities 67,000 3,230 17 ,050 3,800 5,200 5,500 3,900 10,600 2.785 1.280 2.700 2.655 8.300 Total collateral 69,250 3,330 17, 050 4,250 5,550 6,095 3,900 11,300 2,835 1,280 2,700 2,660 8,300 1/ After deducting $ 216 million participations of other Federal Reserve Banks. iJ After deducting $ 520 million participations of other Federal Reserve Banks. 3/ Includes $32 million of certain deposits of domestic nonmember banks and foreign-owned banking instituticn s held with member banks and "" redeposited in full with Federal Reserve Banks in connection with voluntary participation by nonmember institutions in the Federal Rseesr ve cedep * Estimated (Dallas District), System1s program of credit restraint. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis