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 23, 1974 The average of daily figures for total reserves of member banks declined $458 million in the latest statement week to a level of $36,250 million. Required reserves and member bank borrowings from Federal Reserve Banks increased while excess reserves declined. Declines in float and other Federal Reserve assets and an increase in Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. System Open Market Operations provided $87 million reserves net, on a weekly average basis through repurchase agreements. Reserves were absorbed late in the week through matched sale-purchase trans actions , Averages of daily figures Member Dank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 22, * May 15, May 23, May 22,* and related items 1974 1974 1973 1974 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright--System account 79,120 - 395 +3,899 1/2/77,204 Held under repurchase agreements 1,411 + 225 + 440 1,127 Federal Agency obligations-- Bought outright 2,636 + 200 +1,380 2,636 Held under repurchase agreements 512 + 23 + 426 506 Acceptances — Bought outright 89 « 3 1 94 Held under repurchase agreements 252 + 37 + 201 163 Loans — Total member bank borrowing 3,088 +1 ,111 +1,400 2,980 Includes seasonal borrowing of: 112 + 18 + 80 111 Other borrowing Float 5/1,872 .. 93 - 257 2,461 Other F.R. assets 879 - 369 + 119 946 Total Reserve Bank credit 89,859 + 737 +7,607 88,117 Gold stock 11,567 -- +1,157 11,567 Special Drawing Rights certif. accc. 400 -- -- 400 Treasury currency outstanding 8,836 + 6 + 349 8,853 110,662 + 743 +9,113 1M79SV" Currency in circulation 72,959 - 38 +6,191 73,099 Treasury cash holdings 278 - 7 - 131 292 Treasury deposits with F.R. Banks 3,028 + 305 -1,069 4,332 Foreign deposits with F.R. Banks 343 + 66 — 265 Other deposits with F.R. Banks 4/ 728 + 13 + 74 761 Other F.R. liabilities and capital 3,218 + 96 + 501 3,244 80,553 + 434 +5,564 81,993 Member bank reserves; With Federal Reserve Banks 5/30,109 + 309 +3,549 26,944 Currency and coin 6,083 - 767 + 545 6,083 Total reserves held 3/ 5/36,250 - 458 +3,980 33,085 Required reserves 36,488 + 25 +4,310 36,488 Excess reserves 3/ 5/- 238 - 483 330 NOTE A net of $134 million of surplus reserves were eligible to be carried forward from the week ended May 15, into the week ending May 22. On May 22, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,924 million, a decrease of $44 million for the week. 1/ Excludes $2,572 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. y Includes $133 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 11 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. 4/ 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 insti tutions in the Federal Reserve System's program of credit restraint. Estimated based on incomplete data. 5/ 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 May 22, ** May 15, May 23, 1974 1974 i<m A S S E TS Gold certificate account 11,460 +1,157 Special Drawing Rights certif. accts. * 400 — — Cash (998) 223 - 7 90 Loans 2,980 - 519 +1,525 Acceptances—Bought outright 94 + 4 + 4 Held under repurchase agreements 163 - 87 + 85 Federal Agency obligations—Bought outright 2,636 + 200 +1,380 Held under repurchase agreements 506 + 26 + 324 U.S. Government securities: Bought outright—Bills 35,072 2,448 369 Certificates - Other Notes 39,365 — +2,429 Bonds 2.767 — - 844 Total bought outright 1/ 2/ 77,204 - 2,448 +1,954 Held under repurchase agreements 1,127 + 25 - 125 Total U.S. Government securities TOTi - 2.423 +1.829 Total loans and securities 84,710 - 2,799 +5,147 Cash items in process of collection (1,652) 7,904 - 2,502 - 112 Bank premises 235 + 2 + 33 Other assets _3/ 711 + 113 + 126 TOTAL ASSETS (2,650) 105,643 - 5.193 +6.261 k I L * Ik II111 Federal Reserve notes (998) 64,654 137 +5,649 Deposits: Member bank-reserves account 26,864 - 4,704 - 372 U. S. Treasurer—general account 4,332 + 1,763 + 348 Foreign 265 93 - 25 Other _4/ 761 + 12 + 148 Total deposits 32,222 - 3,022 + 99 Deferred availability cash items (1,652) 5,523 - 2,147 + 21 Other liabilities and accrued dividends 1,165 + 9 + 311 TOTAL LIABILITIES (2,650) 103,564 - 5,297 +6,080 £ £ £ I 1 AL A C C O U N TS Capital paid in 873 1 + 58 Surplus 844 — + 51 Other capital accounts 362 + 105 + 72 Contingent liability on acceptances purchased for foreign correspondents 716 13 + 339 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $2,572 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $133 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3_/ Includes assets denominated in foreign currencies. 4/ 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 non-member institutions in the Federal Reserve System's program of credit restraint. ** Estimated (Dallas District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 22. 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 % 923 176 6,627 + 401 521 + 25 16 days to 90 days 57 81 20,776 +2,265 107 + 3 91 days to 1 year -- 21,317 -5,089 280 + 21 Over 1 year to 5 years — 19,853 -- 1,117 +109 Over 5 years to 10 years -- 7,836 — 746 + 53 Over 10 years Total 2,980 2 - 57 - 78 1 , . 3 92 3 2 1 -2,42 - 3 - 3 .. , . 1 3. 4 7 2 1 + + 2 2 1 6 5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.Ub) ST/rTE&SEST OF CGNSITIC^ C~ EACH FEDERAL RESERVE, BANF. ON MAY 22, 1974 New i Phi. la- ] Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Dallas* Yorl ' eel land mond Louis apolis City Francisco l (In millions of dollars) A S S E TS Gold certificate account ! 11,460 784 646 902 1,337 935 663 2,420 425 406 393 265 2,284 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 998 51 258 38 41 102 160 57 30 1.7 36 65 143 Other cash 223 15 14 3 30 24 34 22 16 7 25 12 21 Loans 2,980 82 1,245 120 137 244 209 176 148 51 223 180 165 Acceptances: Bought outright 94 - 94 -- Held under repurchase agreements 163 «.- 163 -- -- — -- -- -._ __ -- _- Federal Agency obligations-- Bought outright 2,636 118 677 140 188 195 145 423 99 101 119 376 Held under repurchase agreements 506 -- 506 -- -- -- -- -- -- __ -- __ U.S. Government securities: Bought outright-- Bills : 35,072 1,566 9,001 1 ,870 2,502 2,589 1,925 5,629 1,311 73K ! ,344 I, 590 5,007 Certificates: -- — — -- — -- -- — — — -- -- — Other -_ — — — «.- — — — -- -- -.. — -• Notes 39,365 1 1,758 10,103 2 ,098 2,808 2,906 2,160 6,318 1,472 828 i />()<> 1, 785 5,620 Bonds . „, 2,767 ! 124 710 148 197 204 152 444 104 58 \{)U _ 125 395 Total bought outright — - 77,204 j 3,448 19,814 4 ,116 5,507 5,699 4,237 1.2,891 2,887 1,624 ,500 11,02^ Held under repurchase agreements 1,127 I 1,127 -- .. — -- — — — — -._ Total U.S. Government securities 78,331 i 3,448 20,941 4 ,116 5,507 5,699 4,237 12,391 2,887 1,624 'V>v> 3 ,500 11,022 Total loans and securities 84,710 3,648 23,626 4 ,376 5,832 6,138 4,591 12,990 3,134 1,730 3,?>S3 3 ,799 11 ,563 Cash items in process of collection 9,556 385 1,484 369 445 1,005 1,006 1,495 /il 4 417 694 800 1 ,04/ Bank premises . | 235 51 10 16 27 14 15 16 14 35 17 12 H Other assets —' 1 7U 53 161 38 40 54 35 86 23 16 23 29 153 TOTAL ASSETS 108,293 5,010 26,292 5 ,765 7,785 8,308 6,526 17,156 4,071 2,635 4,486 4 ,996 I '),?f»3 1/ Excludes $2,572 million of securities sold, and scheduled to be bought back, under maLched sale-purchase transactions. l_l Includes $133 million securities loaned —fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Estimated (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 May 22, 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 65,652 3,222 16,261 4,145 5,224 5,819 3,455 10,844 2,654 1,235 2/) 02 2,468 7,823 Deposits: Member bank reserves 26,864 915 6,278 928 1,567 1,091 1,962 4,128 848 793 1, 1 In 1,5') 8 •>,680 U. S. Treasurer--general account 4,332 348 1,297 211 330 306 174 515 138 140 1 4 h 19/ VK) Foreign 265 10 1/ 79 12 22 14 18 39 9 6 10 14 32 Other 761 6 530 13 2 20 18 131 4 2 ') 10 2 0 Total deposits 32,222 1,279 8,184 1,164 1,921 1,431 2,1.72 4,813 999 941 i ,77/ 1,779 6,2<Y2 Deferred availability cash items 7,175 379 970 299 387 861 690 1,011 310 386 5 83 592 70/ Other liabilities and accril ed 1,165 47 329 56 76 76 62 166 38 25 40 48 202 dividends TOTAL LIABILITIES 106,214 4,927 25,744 5,664 7,608 8,187 6,379 16,834 4,001 .\ vr/ 4,4 02 4,887 14,994 CAPITAL ACCOUNTS Capital paid in 873 35 227 42 77 48 66 135 28 2 1 36 47 111 S Ot u h r e p r lu s c apital accounts 8 3 4 6 4 2 3 1 4 4 2 1 1 0 5 6 4 1 2 7 7 2 4 6 4 2 7 6 6 1 2 9 13 5 2 5 2 1 9 3 20 7 3 1 5 3 4 1 6 6 10s8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 108,293 5,010 26,292 5,765 7,785 8,308 6,526 17,156 4,071 2,635 4,486 4,996 15,263 Contingent liability on ac<z eptances purchased for fore Ign 716 29 2/183 35 63 40 52 113 24 17 29 39 92 correspondents FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,347 17,127 4,232 5,371 6,040 3,730 11,092 2,796 1,276 2,647 2,629 8,203 Collateral for F. R. notes: Gold certificate account 100 -- 400 350 630 — 700 50 -- -- 5 3,280 17,250 3,900 5,200 5,500 3,900 10,600 2,785 1,320 2,700 2,680 8,400 U. S. Government securities Total collateral 3,380 17,250 4,300 5,550 6,130 3,900 11,300 2,835 1,320 2,700 2,685 8,4 00 1/ After deducting $ 186 million participations of other Federal Reserve Banks. 1 I After deducting $ 533 million participations of other Federal Reserve Banks. T/ 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 (Dallas District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis