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 30, 1974 The average of daily figures for total reserves of member banks declined $355 million in the latest statement week to a level of $36,230 million. Required reserves and excess reserves declined while member bank borrowings from Federal Reserve Banks increased. A decline in float and an increase in Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest week. In addition, System Open Market Operations absorbed $694 million reserves net, on a weekly average basis through maturing repurchase agreements made in the previous week. Reserves were provided late in the week through outright purchase of Treasury bills and repurchase agreements. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 29, May 22, May 30, May 29, and re laLed items 1974 1974 1973 1974 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 79,786 + 666 +4,797 1/79,850 Held under repurchase agreements 561 - 850 + 561 2,081 Federal Agency obligations— Bought outright 2,632 - 4 +1,390 2,621 Held under repurchase agreements 183 - 329 + 183 701 Acceptances — Bought outright 98 + 9 + 10 100 Held under repurchase agreements 66 - 186 + 66 250 Loans-- Total member bank borrowing 3,605 + 517 +1,205 4,710 Includes seasonal borrowing of: 11.4 + 2 + 68 130 Other borrowing Float 1,756 - 451 - 47 1,714 Other F.R. assets 900 + 21 + 107 923 Total Reserve Bank credit 89,587 - 607 +8,272 92,950 Gold stock 11,567 __ +1,157 11,567 Special Drawing Rights certif. acct. 400 __ -- 400 Treasury currency outstanding 8,856 + 20 + 362 8,856 110,409 - 588 +9,790 113,773 Currency in circulation 73,062 + 103 +6,172 73,488 Treasury cash holdings 273 - 5 - 129 269 Treasury deposits with F.R. Banks 3,224 + 196 - 340 2,333 Foreign deposits with F.R. Banks 287 - 56 34 315 Other deposits with F.R. Banks 3/ 684 - 44 + 18 642 Other F.R. liabilities and capital 3,310 + 92 + 523 3,644 80,840 + 287 +6,210 80,691 Member bank reserves: With Federal Reserve Banks 29,569 _ 875 +3,580 33,082 Currency and coin 6,603 + 520 + 559 6,603 Total reserves held 2/ 36,230 - 355 +4,025 39,743 Required reserves 36,166 . 322 +4,106 36,166 Excess reserves 2/ 64 - 33 - 81 3,57 NOTE: A net of $105 million of surplus reserves were eligible to be carried forward from the week ended May 22, into the week ending May 29. On May 29, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,104 million, an increase of $180 million for the week. 1/ Includes $150 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 $41 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 S}'rstem,s program of credit restraint. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CQNSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since May 29, May 22, May 30, 1974 1974 1973 A S S E SS Gold certificate account 11,460 .- + 1,157 Special Drawing Rights certif. accts. 400 -- -- Cash ( 958) 215 - 8 98 Loans 4,710 +1 730 + 2,939 Acceptances—Bought outright 100 + 6 + 16 Held under repurchase agreements 250 + 87 + 250 Federal Agency obligations—Bought outright 2,621 - 15 + 1,381 Held under repurchase agreements 701 + 195 + 701 U.S. Government securities: Bought outright—Bills 37,718 +2 ,646 + 4,318 Certificates - Other Notes 39,365 + 2 429 Bonds 2.767 844 Total bought outright 79,850 +2 ,646 + 5,903 Held under repurchase agreements 2,081 + 954 + 2,081 Total U.S. Government securities 81.931 +3 ,600 + 7,984 Total loans and securities 90,313 +5 603 +13,271 Cash items in process of collection (1,455) 8,088 + 170 856 Bank premises 236 + 1 + 35 Other assets 2/ 687 - 24 + 68 TOTAL ASSETS (2,413) 111.399 +5 ,742 +13^577 Federal Reserve notes ( 958) 65,009 + 355 + 5, 618 Deposits: Member bank-reserves account 33,002 +6,003 + 9 : 055 U. S. Treasurer—general account 2,333 -1, 999 - 1 ; 599 Foreign 315 + 50 + 25 642 119 27 Other 3/ 36,292 +3,935 + 7,454 Total deposits (1,455) 6,454 +1,052 - 356 Deferred availability cash items 1,458 + 293 + 657 Other liabilities and accrued dividends 109 ,213 +5,635 +13,373 TOTAL LIABILITIES (2,413) £ A L 11 A k ACCOUNTS; 873 + 58 Capital paid in 844 + 51 Surplus 469 + 107 + 95 Other capital accounts Contingent liability on acceptances purchased for foreign correspondents 735 + 19 + 357 * Figures in parentheses are the eliminations made in the consolidating process. U Includes $150 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. U Includes assets denominated in foreign currencies. 3/ Includes $41 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. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 29, 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 4,644 264 7,882 +1,255 772 +251 16 days to 90 days 66 86 23,429 +2,653 47 - 60 91 days to I year -- -- 21,009 - 308 312 + 32 Over 1 year to 5 years -- -- 19,853 -. 1,074 - 43 Over 5 years to 10 years -- -- 7,836 -- 746 — Over 10 years — -- 1,922 -- 371 — Total 4,710 350 81,931 +3,600 3,322 +180 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 29, 1974 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco ,_ — - (3. n millions of dollars) A S S E TS Gold certificate account 11,460 1 J . ,1 C 1 J £ U 1 AOO 912 1 9AS 899 679 1.659 582 267 464 610 1,558 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 958 51 239 37 39 95 153 56 27 19 35 63 144 Other cash 215 14 15 2 29 23 33 21 16 6 25 11 20 Loans 4,710 120 2,798 158 149 300 190 339 36 55 181 190 194 Acceptances: Bought outright 100 - 100 — Held under repurchase agreements 250 -- 250 -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright ! 2,621 117 673 140 187 193 144 421 98 100 119 374 Held under repurchase agreements 701 -~ 701 -- -- -- — -- — -- -- — U.S.. Government securities: Bought outright-- Bills 37,718 1,685 9,680 2,011 2 9 690 2 ,785 2,071 6,053 1 ,410 793 1,445 1 ,710 5,385 Certificates: Other -- -- -- — -- -- -- -- -- -- -_ -- -_ Notes 39,365 1,758 10,103 2,098 2,808 2 ,906 2,160 6,318 1 ,472 828 1,509 1 ,785 5,620 >onl- 2,767 124 710 148 197 204 152 444 .104. _ 58 106 125 395 rotol -- .._*".: cutrigrit --' 79,850 3,567 20,493 4,257 5,695 5 ,895 4,383 12,815 ~T, 986 "~"~Y ,679 3,060 ~T , 620 11,400 -ir1:'. nndf-/ • p';uhGse agreements 2,081 _- 2,081 -- _- __ -- — -_ -.- -._ ... -- 'a . . \\ • iv -' "-i-r>f ^vcurlries 81,931 3,567 22,574 4,257 5,695 5 ,895 4,383 12,815 ,986 I 3,060 3 ,620 1.1,400 -! i •' »r T ,« ^\OJ iiies i907n3 3,804 27,096 4,555 6,031 6 ,388 4,717 13,5 75 3 ,120 ,789 3,341 3 ,929 11,968 Cash items in process of collection 1 9,543 406 1,610 441 490 950 1,223 1,389 336 421 715 662 900 Bai,k premises , 236 51 11 16 27 14 15 16 14 35 17 12 8 Other assets —' ! 687 29 171 46 54 50 41 96 22 —IS— 26 29 105 TOTAL ASSETS 113,812 5,534 30,664 6,032 7,948 8 ,455 6,883 16,882 4 132 2 ,562 4,638 5 ,330 14,752 !_/ Includes $150 million securities loaned--fuj.ly secured by U.S. Government securities pledged with Federal Reserve Banks, 2/ Includes assets denominated in foreign currenc: es. 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 29, 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 65,967 3,237 16,364 4,154 5,247 5,863 3,459 10,869 2,661 1,240 2,515 2,478 7,880 Deposits: Member bank reserves 33,002 1,323 11,039 1,129 1,813 1,283 2,008 4,194 888 743 1,185 1,948 5,449 U. S. Treasurer--general account 2,333 205 388 178 163 206 207 222 161 102 150 167 184 Foreign 315 11 1/110 14 24 16 20 43 10 6 11 15 35 Other 3/ 642 5 551 8 1 18 18 8 2 3 4 8 16 Total deposits 36,292 1,544 12,088 1,329 2,001 1,523 2,253 4,467 1,061 854 1,350 2,138 5,684 Deferred availability cash items 7,909 373 1,247 385 439 864 956 1,038 298 393 644 549 723 Other liabilities and accnl ed dividends 1,458 .293 386 57 76 77 63 .169 19 25 40 52 181 TOTAL LIABILITIES 111,626 5,447 30,085 5,925 7,763 8,327 6,731 16,543 4,059 2,512 4,549 5,217 14,468 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 469 18 137 23 34 33 24 72 16 9 18 20 65 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 113,812 5,534 30,664 6,032 7,948 8,455 6,883 16,882 4,132 2,562 4,638 5,330 14,752 Contingent liability on ace. eptances purchased for forei- gn 735 30 2/ 188 36 65 41 54 115 25 17 30 40 94 correspondents FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 68,622 3,350 17,162 4,221 5,387 6,056 3,748 11,100 2,788 1,282 2,657 2,645 8,226 Collateral for F. R. notes: Gold certificate account 2,235 100 -- 400 350 630 -- 700 50 — -- 5 U. S. Government securities 67,515 17,250 3,900 5,200 5,500 3,900 10,600 2,785 1^320 2,700 2,680 8,400 Total collateral 69,750 3,380 17,250 4,300 5,550 6,130 3,900 11,300 2,835 1,320 2,700 2,685 8,400 1^1 After deducting $ 205 million participations of other Federal Reserve Banks. lj After deducting $547 million participations of other Federal Reserve Banks. 3/ Includes $41 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. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis