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 25, 1974 The average of daily figures for total reserves of member banks declined $199 million in the latest statement week to a level of $36,109 million. Required reserves and member bank borrowings from Federal Reserve Banks increased while excess reserves declined. A decline in float and an increase in Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. Partially offsetting these reserve drains were declines in currency in circulation and foreign deposits with Federal Reserve Banks. System Open Market Operations provided $158 million reserves net, on a weekly average basis, through outright purchases of Treasury bills and Federal Agency obligations and through repurchase agreements. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Apr, 24, * Apr. 17, Apr. 25, Apr. 24, * and related items 1974 1974 1973 1974 Reserve Bank credit: (In millions of dollars) U.S. Government securities- Bought outright—System account 78,726 198 +5,091 1/78,691 Held under repurchase agreements 603 247 - 47 451 Federal Agency obiigations-- Bought outright 2,270 147 + 998 2,242 Held under repurchase agreements 90 15 7 105 Acceptances — Bought outright 5 4 81 Held under repurchase agreements 127 70 72 118 Loans-- Total member bank borrowing 1,928 111 282 2,095 Includes seasonal borrowing of: 54 7 45 57 Other borrowing Float 2,502 198 313 2,692 Other F.R. assets 1,190 56 51 1,226 Total Reserve Bank credit 87,514 127 +6,124 87,701 Gold stock 11,567 +1,157 11,567 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 8,812 + 364 8,821 108,293 136 +7,644 108,489 Currency in circulation 72,310 306 +6,014 72,320 Treasury cash holdings 288 15 - 128 287 Treasury deposits with F.R. Banks 1,666 367 -1,975 2,425 Foreign deposits with F.R. Banks 269 170 + 11 279 Other deposits with F.R. Banks 3/ 703 8 + 40 700 Other F.R„ liabilities and capital 2,997 13 + 373 3,021 78,232 - 129 +4,333 79,032 Member bank reserves: With Federal Reserve Banks 30,061 + 265 +3,310 29,457 Currency and coin 5,990 - 464 + 511 Total reserves held 2/ 36,109 - 199 +3,707 ! 35,505 Required reserves 35,919 + 5 +3,855 35,919 Excess reserves 2/ 190 - 204 - 148 - 414 NOTE: A net of $173 million of surplus reserves were eligible to be carried forward from the week ended April 17, into the week ending April 24. On April 24, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,158 million, an increase of $5 million for the week. 1/ Includes $182 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 foreignowned banking institutions held with member banks and redeoosited 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 (Cleveland 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 24,** Apr il 17, Api• il 25, 1974 1Q7ZL icm A S S E TS Gold certificate account 11,460 +1 157 Special Drawing Rights certif. accts. * 400 -- -- Cash (1,129) 241 - 6 - 79 Loans 2,095 + 810 + 573 Acceptances — Bought outright 81 + 5 - 1 Held under repurchase agreements 118 + 99 + 87 Federal Agency obligations — Bought outrighhtt 2,242 + 119 + 970 Held under repurchase agreements 105 + 62 + 10 U.S. Government securities: Bought outright—Bills 36,559 40 4-3,664 Certificates - Other Notes 39,12.8 4- 172 4-2,152 Bonds 3,004. - 567 Total bought outright 78,691 + 132~ 4-5,249 Held under repurchase agreements 451 - 19 - 133 Total U.S. Government securities 79,142 4- 113 4-5,116 Total loans and securities 83,783 4-1,208 4-6,755 Ccsh items in process of collection (1,652) 8,248 -1,393 -1,139 Bank premises 231 1 4- 32 Other assets _2/ 995 56 4- 60 TOTAL ASSETS (2,781) 105,358 248 4-6,786 t i A i i t n ns (1,129) 63,920 - 434 4-5,397 Federal Reserve notes 29,377 - 120 4-2,873 Deposits: Member bank-reserves account 2,425 4-1,523 -1,271 U. S. Treasurer—general account 279 89 4- 39 Foreign 700 4- 30 4- 18 Other V 32 ,781 +1,344 4-1, 659 Total deposits (1,652) 5 ,636 -1,283 - 659 Deferred availability cash items 1 .078 4- 29 + 349 Other liabilities and accrued dividends (2,781) 103,415 344 +6,746 TOTAL LIABILITIES C A P I T AL A C C O U N TS Capital paid in 872 + 59 Surplus 844 + 51 Other capital accounts 227 96 - 70 Contingent liability on acceptances purchased for foreign correspondents 702 + 351 17 Includes $182 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 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 ke.serve System's program of credit restraint. ** Estimated (Cleveland District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 24, 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 2,06L 129 5,443 - 16 105 + 14 16 days to 90 days 34 67 19,462 -412 115 + -28 91 days to 1 year 3 22,063 +369 247 - 28 Over 1 year to 5 years 22,516 +172 897 + 76 Over 5 years to 10 years 7,836 ..- 656 + 48 Over 10 years — 1,822 -- 327 + 43 Total 2 Q95 199 79,142 +113 2,347 +181 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 24, 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 11,460 569 2,870 589 800 942 555 2,004 452 192 301 815 1,371 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R, notes of other banks 1,129 61 288 45 48 110 176 70 32 17 34 102 146 Other cash 241 16 19 3 32 25 36 25 16 7 27 12 23 Loans 2,095 61 591 107 239 213 222 174 53 28 120 88 199 Acceptances: Bought outright 81 -- 81 — — —• — — — — — — — Held under repurchase agreements 118 -- 118 — -- — — — — -- — — -- Federal Agency obligations-- Bought outright 2,242 105 574 124 165 167 124 362 83 50 88 95 305 Held under repurchase agreements 105 -- 105 — -- — — -- — -- — — -- U.S. Government securities: Bought outright-- Bills 36,559 1,710 9,352 2,024 2,697 2,729 2,024 5,903 1,354 807 1,434 1,545 4,980 Certificates: Other — -- -- -- -- -- -- — _- -- -- —. — Notes 39,128 1,831 10,009 2,167 2,887 2,920 2,166 6,319 1,449 863 1,535 1,653 5,329 Bonds 3,004 141 769 166 222 224 166 485 111 66 118 127 £OQ Total bought outright 1/ 78,691 3,682 20,130 4,357 5,806 5,873 4,356 12,707 2,914 1 ,736 3,087 3,325 10,718 Held under repurchase agreements 451— -- 451 -- — ^ -- — — -- -- — — -- Total U.S. Government securities 79,142 3,682 20,581 4,357 5,806 5,873 4,356 12,707 2,914 1,, 736 3,087 3,325 10,718 Total loans and securities 83,783 3,848 22,050 4,588 6,210 6,253 4,702 13,243 3,050 1 ,814 3,295 3,508 11,222 Cash items in process of collection 9,900 373 1,623 486 558 1,000 952 1,261 463 362 825 698 1,299 Bank premises 231 49 10 14 27 14 15 16 14 35 17 12 8 Other assets 995 45 239 55 66 73 57 145 33 23 35 39 185 TOTAL ASSETS 108,139 4,984 27,192 5,803 7,774 8,453 6,515 16,834 4,075 2 ,457 4,549 5,200 14,303 1_/ Includes $182 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2y Includes assets denominated in foreign currencies. * Estimated (Cleveland 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 24, 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 65,049 3,205 16,075 4,119 5,195 5,786 3,401 10.746 2,629 2,479 2,462 7,737 Deposits: Member bank reserves 29,377 1,128 7,994 1,049 1,807 1,452 2,020 4,453 797 705 1,152 1,856 4,964 U. S. Treasurer—general account 2,425 144 604 110 116 169 216 150 205 72 107 186 346 Foreign 279 10 1/ 93 12 22 14 18 39 9 6 10 14 32 Other 3/ 700 5 562 12 1 24 17 14 2 3 6 26 28 Total, jie po s it s 32,781 1,287 9,253 1,183 1,946 1,659 2,271 4,656 1,013 786 1,275 2,082 5,370 Deferred availability cash items 7,288 366 1,065 350 390 821 642 966 331 386 676 511 784 Other liabilities and accrued dividends 1,078 48 291 56 78 76 60 164 37 24 39 43 162 TOTAL LIABILITIES 106,196 4,906 26,684 5,708 7,609 8,342 6,374 16,532 4,010 2,411 4,469 5,098 14,053 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 227 9 66 11 14 16 14 35 8 5 9 9 31 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 108,139 4.984 27,192 5,803 7.774 8.453 6.515 16.834 4.075 2.457 4.549 5.200 14.303 Contingent liability on ace. eptances purchased for forei- gn correspondents 702 29 2/179 34 62 39 51 110 24 16 29 39 90 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 68,050 3,344 16,938 4,192 5,364 6,023 3,684 11,046 2,782 1,271 2,630 2,621 8,155 Collateral for F. R. notes: Gold certificate account 2,150 100 350 350 595 700 50 5 U. S. Government securities 67,195 3,280 17,050 3,900 5,200 5,500 3,900 10,600 2,785 1,300 2,700 2,680 8,300 Total collateral 69,345 3,380 17,050 4,250 5,550 6,095 3,900 11,300 2,835 1,300 2,700 2,685 8,300 \J After deducting $186 million participations of other Federal Reserve Banks. 2/ After deducting $523 million participations of other Federal Reserve Banks. 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 (Cleveland District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis