H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and *A1 RfS^ Condition Statement of F.R. Banks H.4.1 For immediate release May 9, 1974 The average of daily figures for total reserves of member banks declined $416 million in the latest statement week to a level of $36,424 million. Required reserves and member bank borrowings from Federal Reserve Banks declined while excess reserves increased. Increases in currency in circulation and Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. Partially offsetting these reserve drains was a decline in other Federal Reserve liabilities and capital. System Open Market Operations provided $482 million reserves net, on a weekly average basis through outright purchases of Treasury bills and repurchase agreements. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank, credit, May 8, * May 1, May 9, May 8, * and related items 1974 1974 1973 1974 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright--System account 79,432 + 231 +4,661 1/79,480 Held under repurchase agreements 904 + 37 + 484 822 Federal Agency obligations-- ..- Bought outright 2,436 +1,180 2,436 Held under repurchase agreements 418 •f- 191 + 364 387 Acceptances — Bought outright 88 + 6 1 86 Held under repurchase agreements 200 + 17 + 132 179 Loans — Total member bank borrowing 1,617 - 540 + 133 1,923 Includes seasonal borrowing of: 82 + 8 + 64 85 Other borrowing Float 1,871 - 41 - 490 2,371 Other F.R. assets 1,342 + 50 + 147 1,374 Total Reserve Bank credit 88,309 « 49 +6,611 89,058 Gold stock 11,567 — +1,157 11,567 Special Drawing Rights cert if. acct. 400 -. -- 400 Treasury currency outstanding 8,827 + 5 + 363 8,829 109,103 - 44 +8,130 109,854 Currency in circulation 72,457 + 409 +6,007 72,934 Treasury cash holdings 299 _ 2 - 122 305 Treasury deposits with F.R. Banks 2,959 + 499 -1,538 2,993 Foreign deposits with F.R. Banks 294 .. 49 38 254 Other deposits with F.R. Banks 3/ 660 „ 12 + 12 678 Other F.R. liabilities and capital 2,960 - 172 + 226 3,003 79,631 + 676 +4,550 80,167 Member bank reserves: With Federal Reserve Banks 29,472 - 719 +3,578 29,687 Currency and coin 6,894 + 303 + 714 6,894 Total reserves held 2/ 36,424 - 416 +4,178 36,639 Required reserves 36,211 - 471 +3,884 36,211 Excess reserves 27 213 + 55 + 294 428 NOTE: A net of $100 million of surplus reserves were eligible to be carried forward from the week ended May 1, into the week ending May 8. On May 8, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,829 million, an increase of $345 million for the week. 1/ Includes $104 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 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. v Estimated (San Francisco 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 May 8,** May 1, May 9, - 1974 L2Z4- A S S E TS Gold certificate account 11,460 +1,157 Special Drawing Rights certif. accts. 400 Cash ( 980) 233 + 1 - 86 Loans 1,923 + 56 - 854 Acceptances — Bought outright 86 _.. - 4 Held under repurchase agreements 179 61 + 106 Federal Agency obligations—Bought outright 2,436 .„ +1 180 Held under repurchase agreements 387 + 177 + 327 U.S. Government securities: Bought outright--Bills 37,348 + 267 +2 ,855 Certificates - Other ~~ Notes 39,128 +2, 152 Bonds 3,004 -- 567 Total bought outright 79,480 + 267 +4~, 440 Held under repurchase agreements 822 + 256 + 364 Total U.S. Government securities 80,302 + 523 +4, 804 Total loans and securities 85,313 + 817 +5, 559 Cash items in process of collection (1 486) 7,769 -1, 134 - 564 Bank premises 233 + 1 + 32 Other assets 2/ 1.141 - 22 + 116 TOTAL ASSETS (2,466) 106,549 - 337 +6_. 114 LIABILITIES. Federal Reserve notes ( 980) 64,536 + 608 +5, 491 Deposits: Member bank-reserves account 29,607 + 56 +2, 120 U. S. Treasurer—general account 2,993 + 45 -1, 692 Foreign 254 - 290 - 98 Other 3/ 678 - 27 + 47 Total deposits 33,532 - 216 + 377 Deferred availability cash items (1,486) 5,478 - 552 - 124 Other liabilities and accrued dividends 1,138 +_ 6 + 337 TOTAL LIABILITIES (2,466) 104,684 154 +6,081 C A P I T AL A C C O U N TS Capital paid in 873 + 58 Surplus 844 + 51 Other capital accounts 148 183 + 24 Contingent liability on acceptances purchased for foreign correspondents 706 +8 + 359 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $104 million securities loaned-fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 3/ Includes $45 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 nonmember institutions in the Federal Reserve System's program of credit restraint. ** Estimated (San Francisco District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 8, 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, 866 201 7,211 +290 387 +177 16 days to 90 days 57 64 18,361 -173 120 + 1 91 days tc 1 year -- -- 22,556 +406 259 - 1 Over 1 year to 5 years -- -- 22,516 -- 1,008 + 30 Over 5 years to 10 years —- -- 7,836 -- 693 - 30 Over 10 years -- -- 1,822 -- 356 -- Total L,923 265 80,302 +523 2,323 +177 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 MAY 8, 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 11,460 533 2,585 738 1,292 858 586 1,715 422 297 420 387 1,627 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 980 51 272 39 41 98 145 47 23 15 29 60 160 Other cash 233 15 17 3 32 26 34 24 16 6 26 12 22 Loans 1,923 64 814 55 90 194 203 145 56 36 147 71 48 Acceptances: Bought outright 86 86 Held under repurchase agreements 179 179 Federal Agency obligations-- Bought outright 2,436 109 625 130 174 180 134 391 91 51 93 110 348 Held under repurchase agreements 387 387 U.S. Government securities: Bought outright-- Bills 37,348 1,668 9,585 1,991 2,664 2,757 2,050 5,994 1,397 786 1,431 1 ,693 5,332 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 1 ^,004 134 771 160 214 722 165 482 113 63 11 5 136 429 Total bought outright 1/ 79,480 3,550 20,398 4,237 5,669 5,867 4,362 12,756 2,973 1 ,672 3,046 3 ,603 11,347 Held under repurchase agreements a? 7 827 Total U.S. Government securities ao,307 3,sso 71 ,770 4,737 S3669 S,R67 4,3fi? 17,7S6 7,Q73 1 ,677 3,046 3 ,603 11,347 Total loans and securities 85,313 3,723 23,311 4,422 5,933 6,241 4,699 13,292 3,120 1 ,759 3,286 3 ,784 11,743 Cash items in process of collection 9,255 380 1,387 414 444 1,041 966 1,326 410 395 672 715 1,105 Bank premises 233 50 10 15 27 14 15 16 14 35 17 12 8 Other assets 2/ 1,141 51 270 67 71 80 59 162 37 27 50 48 219 TOTAL ASSETS 109,015 4,826 27,945 5,721 7,873 8,394 6,526 16,652 4,057 2 .541 4,515 5 ,032 14,933 1/ Includes $104 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. * Estimated (San Francisco 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 MAY 8, 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 65,516 3,214 16,181 4,130 5,202 5,825 3,452 10,819 2,658 1,230 2,505 2,461 7,839 Deposits: Member bank reserves 29,607 890 8,811 842 1,773 1,303 2,023 4,044 839 735 1,159 1,828 5,360 U. S. Treasurer--general account 2,993 228 546 241 271 268 197 353 142 131 141 121 354 Foreign 254 10 1/ 64 12 22 14 19 40 9 6 11 14 33 Other 3/ 678 6 545 13 3 25 19 21 3 1 9 13 20 Total deposits 33,532 1,134 9,966 1,108 2,069 1,610 2,258 4,458 993 873 1,320 1,976 5,767 Deferred availability cash items 6,964 356 980 337 365 111 618 917 304 369 574 448 919 Other liabilities and accrued dividends 1,138 48 331 56 75 11 60 169 39 25 39 48 171 TOTAL LIABILITIES 107,150 4,752 27,458 5,631 7,711 8,289 6,388 16,363 3,994 2,497 4,438 4,933 14,696 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 148 5 45 6 11 10 10 22 6 3 6 6 18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 109,015 4,826 27,945 5,721 7,873 8,394 6,526 16,652 *.057_ 2,541 4,515 5,032 14,933 Contingent liability on ac<: eptances purchased for foreiL gn correspondents 706 29 2/180 35 62 39 _ 52L„_ ILL, 24 16 29 39 90 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,346 17,016 4,215 5,344 6,020 3,691 11,032 2,774 1,275 2,637 2,610 8,174 Collateral for F. R. notes: Gold certificate account 100 — 350 350 595 — 700 50 5 U. S. Government securities 3,280 17,250 3,900 5,200 5,500 3,900 10,600 2,785 1,300 2,700 2,680 8,300 Total collateral 3,380 17,250 4,250 5,550 6,095 3,900 11,300 2,835 1,300 2,700 2,685 8,300 \J After deducting $ 190 million participations of other Federal Reserve Banks, __/ After deducting $ 526 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 bankasn d redeposited in full with Federal Reserve Banks in connection with voluntary participation by nonmember institutions in the FederaRle serve System1s program of credit restraint. * Estimated (San Francisco District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis