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 May 2, 1974 The average of daily figures for total reserves of member banks increased $731 million in the latest state ment week to a level of $36,840 million. Excess reserves declined while required reserves and member bank borrowings from Federal Reserve Banks increased. The major factors absorbing reserves in the latest week were a decline in Federal Reserve float and an increase in Treasury deposits with Federal Reserve Banks. A decline in Currency in circulation partially offset these reserve drains. In addition. System Open Market Operations provided a sizable amount of reserves both through outright purchases and through repurchase agreements* Averages o f daily figures Member bank reserves. Week ended Chan ge from wee c ended Wednesday, Reserve Bank credit, May 1, * "j£pr il 24; May 2, May 1,* and related items 1974 1974 1973 1974 Reserve Bank credit: (In m• i1 1 ions of dollars) U.S* Government securities*-- Bought outright--System account 79,201 + 475 +4 , 637 i/79,213 Held under repurchase agreements 867 + 264 + 573 566 Federal Agency obligations^- Bought outright 2,436 + 166 +1, 170 2,436 Held under repurchase agreements 227 + 137 + 202 210 Acceptances — Bought outright 82 + 4 „, 1 86 Held under repurchase agreements 183 + 56 + 157 118 Loans-- Total member bank borrowing 2,157 + 219 + 283 1,867 Includes seasonal borrowing of: 74 +. 20 + 58 83 Other borrowing Float 1,902 - 589 «. 264 2,881 Other F.R. assets -1*289 + 98 + 169 1,374 Total Reserve Bank credit 88,344 + 831 +6 ,926 88,751 Gold stock 11,567 -- +1 ,157 11,567 Special Drawing Rights certif. acct. 400 -- — 400 Treasury currency outstanding 8,822 + 1.0 + 361 8,826 109,133 + 841 +8 ,444 109,544 Currency in circulation 72,042 - 266 +5 ,909 1 72,293 Treasury cash holdings 301 + , 13 - 118 I 300 Treasury deposits with t.R. B..r->k.- 2,460 + 794 -1, 624 2,948 Foreign deposits with F.P Bank". 343 .+,, 74 + 30 544 Other deposits tfith F.R. Bank1 -L' 671 ~ 32 + 11 ! 699 Other F.R, li*b\1 J.: les .ma car- jj „JulM.. + 127 + 421 ! 3,129 78.941 + 710 +4, 630 j 79,913 Member bank revives ; With Federal Reserve Banks 30,191 +3,812 29,631 Currency and coin + 640 6,591 Total reserves held 27 36,840 +4,338 36,280 Required reserves 36,682 +4,411 36,682 Excess reserves 2/ 158 - 73 - 402 NOTE A net of $118'million of surplus reserves were eligible to be carried forward from the week ended April 24, into the week ending May 1. On May 1, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,484 million, an increase of $326 million for the week. 1/ Includes $181 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 $45 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 'Boston, Dallas and San Francisco 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) Wednesday Change since May 1,** Apr. 24, May 2, 1974 - ,19.74 -±97.3 A S S E TS Gold certificate account 1,460 -„ +1 ,157 Special Drawing Rights certif. accts. 400 — — Cash (1,154) 231 - 10 - 80 Loans 1,867 - 302 +1 ,050 Acceptances—Bought outright 86 + 5 - 1 Held under repurchase agreements 118 — + 61 Federal Agency obligations--Bought outright 2,436 + 194 +1 ,180 Held under repurchase agreements 210 + 105 + 137 U.S. Government securities: Bought outright—Bills 37,081 + 522 +2,994 Certificates - Other Notes 39,128 .._ +2,152 Bonds 3,004 — - 567 Total bought outright 79,213 + 522 +4,579 Held under repurchase agreements 566 + 115 + 65 Total U.S. Government securities 79,779 + 637 +4,644 Total loans and securities 84,496 + 639 +7,071 Cash items in process of collection (1 843) 8,954 + 705 - 966 Bank premises 231 — + 32 Other assets 2/ 1,143 + 145 + 165 TOTAL ASSETS (2, 997) 106,915 ±1., 479 +7,379 L I A B I L I T I ES Federal Reserve notes (1, 154) 63,891 19 +5,362 Deposits: Member bank-reserves account 29,551 •f 174 +3,182 U. S. Treasurer--general account 2,948 + 523 -1,466 Foreign 544 + 265 + 202 Other 3/ 699 - 1 + 33 Total deposits 33,742 + 961 +1,951 Deferred availability cash items (1, 843) 6,153 + 434 - 309 Other liabilities and accrued dividends 1,077 - 1 + 305 TOTAL LIABILITIES (2, 997) 104,863 +1, 375 +7,309 £ A £ I 1 A L ACCOUNTS! Capital paid in 873 + 1 + 59 Surplus 844 -„ + 51 Other capital accounts 335 + 103 - 40 Contingent liability on acceptances purchased for foreign correspondents 593 «. 4 4. 354 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $181 million securities loaned--fully S>€cured by U.S. Government securities pledged with Federal Reserve Banks. 27 Includes assets denominated in foreign currencies. 3/ Includes $45 million of certain deposits of domestic nonmember banks and foreignowned banking institutions held with member banks arid 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 (Boston, Dallas and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 1. 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 1,830 139 6 S 921 +1, 478 210 +105 16 days to 90 days 37 62 18,534 - 928 119 + 4 91 days to 1 year 3 22,150 + 87 260 + 13 Over 1 year to 5 years 22,516 c- 978 + 81 Over 5 years to 10 years 7,836 — 723 + 67 Over 10 years -- 1,822 — 356 + 29 Total 1,867 204 79,779 + 637 2,646 +299 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 MAY 1, 1974 New Phila Cleve Rich St. Minne Kansas San * Total Boston * Atlanta Chicago Da lias* York delphia land mond Louis apolis City Francisco O n millions of dollars) A S S E TS Gold certificate account i 11,460 967 2,648 728 815 799 470 1,597 434 214 454 241 2,093 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. B. notes of other Banks 1,154 62 301 52 57 110 174 61 33 16 31 74 183 Other cash 231 14 18 2 31 25 35 23 16 7 26 12 22 Loans 1,867 103 182 127 172 173 227 354 116 78 109 128 98 Acceptances: Bought outright 86 -- 86 — — — — — — — — — -- Held under repurchase agreements 118 -- 118 -- — -- — -- — — — — -- Federal Agency obligations-- Bought outright 2,436 109 625 130 174 180 134 391 91 51 93 110 348 Held under repurchase agreements 210 — 210 — — — ~ — -- -- — — -- U.S. Government securities: Bought outright-- Bills 37,081 1,656 9,516 1,977 2,645 2,738 2,036 5,951 1,386 780 1,421 1 ,681 5,294 Certificates: Other -- -» -- _- -- — -- -- -- — — «. -- Notes 39,128 | 1,748 10,042 2,086 2,791 2,888 2,147 6,280 1,463 823 1,500 1 ,774 5,586 Bonds 3,004 1 134 771 160 214 222 165 482 113 _ 63 115 136 429 Total bought outright 1/ 79,213 | 3,538 20,329 4,223 5,650 5,848 4,348 12,713 2,962 ,666 3,036 ~T ,591 11,309 Held under repurchase agreements 566 — 566 — — — — — — _ — — — — Total U.S. Government securities 79,779 j 3,538 20,895 4,223 5,650 5,848 4,348 12,713 2,962 ,666 3,036 T ,591 11,309 Total loans and securities 84,496 J 3,750 22,116 4,480 5799^ 6,201 4,709 13,458 3,169 1 ,795 3,238 3 ,£29 11,755 Cash items in process of collection 10,797 424 1,902 455 495 1,064 1,097 1,485 513 489 982 768 1,123 Bank premises 231 49 10 14 27 14 15 16 14 35 17 12 8 Other assets 1,14^ 45 ?7R 65 a2__ SL3_ 57 157 3-5- 25 38 46 212 TOTAL ASSETS 2/ . 109,912 5,334 27,366 5,819 7,546 8,342 6,579 16,867 4,229 2 ,588 4,801 4 ,996 15,445 1/ Includes $181 million of securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. * Estimated (Boston, Dallas, and San Francisco Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACK FEDERAL RESERVE BANK ON MAY 1, 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 65,045 3,209 16,116 4,112 5,181 5,789 3,395 10,728 2,634 1,218 2,484 2,441 7,738 Deposits: Member bank reserves 29,551 1,314 7,619 1,039 1,519 1,316 2,020 4,331 843 775 1,134 1,544 6,097 U. S. Treasurer—general account 2,948 254 697 125 156 114 234 154 265 44 293 279 333 Foreign 544 16 1/256 19 34 22 28 61 13 9 16 21 49 Other 3/ 699 4 604 10 1 24 24 11 2 2 4 9 4 Total deposits 33,742 1,588 9,176 1,193 1,710 1,476 2,306 4,557 1,123 830 1,447 1,853 6,483 Deferred availability cash items 7,996 407 1,237 358 403 883 673 1,098 365 468 747 550 807 Other liabilities and accnl ed dividends 1,077 48 300 55 75 75 58 164 3ft 24 39 46 155 TOTAL LIABILITIES 107,860 5,252 26,829 5,718 7,369 8,223 6,432 16,547 4,160 2,540 4,717 4,890 15,183 CAPITAL ACCOUNTS Capital paid in 873 35 227 42 77 48 66 135 28 21 36 47 111 Surplus 844 34 215 42 74 47 62 132 29 20 35 46 108 Other capital accounts 335 13 95 17 26 24 19 53 12 7 13 13 43 TOTAL LIABILITIES AND CAPITAL ACCOUNTS t ± . r v \ y r \ r ty \t L r £ \ 5,334 27,366 5,819 7,546 8,342 6,579 16,867 _4»2_29 , 2,588 4.801 4.996 15,445 Contingent liability on ace: eptances purchased for foreiL gn _.correspondents 698 29 2/178 34 61 39 51 110 24 16 29 38 ... 22...., FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,337 16,963 4,180 5,342 6,023 3,681 11,038 2,782 1,270 2,625 2,607 8,164 Collateral for F. R. notes: Gold certificate account 100 — 350 350 595 — 700 50 5 U. S. Government securities 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 3,380 17,050 4,250 5,550 6,095 3,900 11,300 2,835 1,300 2,700 2,685 8,300 1/ After deducting $ 288 million participations of other Federal Reserve Banks. 2/ After deducting $ 520 million participations of other Federal Reserve Banks. 3/ Includes $45 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 System1s program of credit restraint. * Estimated (Boston, Dallas and San Francisco Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis