H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Fractors Affecting Bank Reserves and ••f^rSfc*: Condition Statement of RR. Banks H.4.1 For immediate release June 6, 1974 The aveYage of daily figured for total reserves of member banks increased moderately in the latest statement week to $36,279 million. Required reserves and member bank borrowings at Federal Reserve Banks declined while excess reserves increased. Increases in float and other Federal Reserve assets and a decline in Treasury deposits with Federal Reserve Banks were the major factors providing reserves in the latest statement week. Partially offsetting these reserve gains were increases in currency in circulation and foreign deposits with Federal Reserve Banks. In addition, System Open Market Operations absorbed $24 million reserves net, on a weekly average basis through matched sale-purchase transactions made late in the week. Reserves were provided early in the week through outright purchases of Treasury bills and coupon issues and repurchase agreements. Averages of daily figures | Member Dank reserves, Week ended Change from week ended]W ednesday, Reserve Bank credit, June 5, * May 29, June b, June 5,* and related items 1974 1974 1973 ] 1974 Reserve Bank credit: (In millions of dollars) yy U.S. Government securities-- Bought outright—System account 79,507 -2 79 + 5,419 77,038 Held under repurchase agreements 627 + 66 + 62 -- Federal Agency obligations-- Bought outright 2.621 - 11 + 1,381 2,621 Held under repurchase agreements 320 +137 + 164 -- Acceptances — Bought outright 97 - 1 + 17 100 Held under repurchase agreements 130 + 64 + 80 — Loans-- Total member bank borrowing 3,054 -551 + 1,390 2,711 Includes seasonal borrowing of: 131 + 17 + 67 126 Other borrowing Float 2,204 +404 89 2,884 Other F.R. assets 1,012 +112 + 159 1,072 Total Reserve Bank credit 89,574 - 57 + 8,585 86,426 Gold stock 11,567 _„ + 1,157 11,567 Special Drawing Rights cert if. acct. 400 .„ __ 400 Treasury currency outstanding 8,859 + 3 + 359 8,860 110,400 - 53 +10,101 107,253 Currency in circulation 73,346 +284 + 6,126 73,752 Treasury cash holdings 302 + 29 96 300 Treasury deposits with F.R. Banks 2,804 -420 222 1,340 Foreign deposits with F.R. Banks 399 +112 + 135 330 Other deposits with F.R. Banks 4/ 695 + 11 + 39 687 Other F.R. liabilities and capital _3,285 - 25 + 403 3,003 80,831 + 6,384 79,412 Member bank reserves: With Federal Reserve Banks 29,569 - 44 + 3 717 27,841 Currency and coin 6,652 + 49 + 513 6,652 Total reserves held3/ 36,279 + 5 ++ 44, 111166 I 34,551 Required reserves 36,066 -1.00 ++ .44 ,224477 | 36,066 Excess reserves 3/ 213 +105 -- 113311 -1,515 NOTE A net of $95 million of surplus reserves were eligible to be carried forward from the week ended May 29, into the week ending June 5. On June 5, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,639 million, an increase of $535 million for the week. 17 Excludes $3,061 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $111 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ 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. 47 Includes $42 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 (Chicago, 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 June 5,** May 29, June 6, 1974 1974 1973 A S S E TS Gold certificate account 11,460 m> — +1,157 Special Drawing Rights certif. accts. * 400 -- — Cash 970) 210 5 89 2,711 -1,999 +1,830 Loans 100 -- + 27 Acceptances--Bought outright -- - 250 88 Held under repurchase agreements 2,621 — +1,381 Federal Agency obligatons—Bought outright — • 701 - 133 Held under repurchase agreements U. S. Government securities: 34,700 •3,018 +1,291 Bought outright--Bills Certificates 39,533 + 168 +2,597 Notes 2,805 + 38 - 806 Bonds 1/2/ 77,038 -2,812 +3,082 Total bought outright — -2,081 - 628 Held under repurchase agreements 77,038 -4,893 +2,454 Total U.S. Government securities 82,470 -7,843 +5,471 Total loans and securities (1,856) 8,324 - 234 - 861 Cash items in process of collection 237 + 1 + 36 Bank premises 835 + 148 + 166 Other assets 2/ (2,826) 103,936 -7,933 +5,880 TOTAL ASSETS LIAlItlllls Federal Reserve notes ( 970) 65,295 + 286 +5,554 Deposits: Member bank—reserves account 27,761 -5,711 + 454 U. S. Treasurer—general account 1,340 - 993 + 16 Foreign 330 + 15 + 77 Other 3/ 687 + 45 + 45 Total deposits 30,118 -6,644 + 592 Deferred availability cash items (1,856) 5,520 - 934 - 373 Other liabilities and accrued dividends 1,105 - 353 + 275 TOTAL LIABILITIES (2,826) 102,038 -7,645 +6,048 £ A Z I iA Ji A C C O U N TS Capital paid in 873 — — + 57 Surplus 844 — + 51 Other capital accounts 181 - 288 - 276 Contingent liability on acceptances purchased for foreign correspondents 725 10 330 * Figures in parentheses are the eliminations made in the consolidating process. \J Excludes $3,061 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $111 million securities loaned--fully secured by U.S. Government securities pledge with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $42 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 (Chicago, Dallas and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 5, 1974 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Accept U. S. Government Federal Agency •ances securities obligations Loans Holdings Weekly Holdings Weekly changes Changes Within 15 days 2,639 29 2,593 -5,289 72 -700 16 days to 90 days 72 71 22,930 - 499 49 + 2 91 days to 1 year -- -- 21,809 + 800 312 — Over 1 year to 5 years — -- 19,879 + 26 1,071 - 3 Over 5 years to 10 years -- -- 7,867 + 31 746 — Over 10 years -- — 1,960 + 38 371 -- Total 2,711 100 77,038 -4,893 2,621 -701 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 June 5,1974 -1 ~ "J TIT i New Phila Cleve Rich Minne Kansas San * Total Boston York delphia land mond Atlanta] Chicago I Louis apolis City Dallas * Francisco I 0 *n millions of dolL ars) A S S E TS 11,460 11Q Q QQQ Q1 1 1 AQ1 1 Q1Q /, QO 1 OQA Oil OOft v</« IKK 1 Q91 LfOi.u LCILUKCILC a^tuliia | -r , «-' y yj ^ , -,+.*, Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 970 49 257 36 37 94 145 52 27 22 33 65 153 Other cash 210 13 15 2 28 22 32 21 16 5 24 12 20 2,711 48 1,453 84 57 230 226 154 62 57 130 83 127 Loans Acceptances: Bought outright 100 100 -- -- -- -- -- Held under repurchase agreements — — — — — — — -- — -- — -- — Federal Agency obligations- Bought outright 2,621 126 647 150 197 192 146 421 101 55 100 116 370 Held under repurchase agreements -- — -- -- -- -- -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 34,700 1,675 8,563 1,984 2,612 2,542 1,933 5,574 1,337 736 1,318 1 ,533 4,893 Certificates: Other Notes 39,533 1,909 9,756 2,259 2,976 2,896 2,201 6,351 1,523 838 1,503 1 ,746 5,575 Bonds 2,805 135 692 160 211 206 156 451 108 59 107 124 396 Total bought outright 1/2/ 77,038 3,719 19,011 4,403 5,799 5,644 4,290 12,376 2,968 _ ,633 2,928 3*, 403 10,864 Held under repurchase agreements i " -- ' '-- -- -- ~ -- -- -- -- -- -- -- Total U.S. Government securities 77,038 3,719 19,011 4,403 5,799 5,644 4,290 12,m ~ 2,968 r rsir" 2,328 ~~T, 403 10,864 " Totzal loans and securities 82,470 3,893 21,211 4,637 6,053 6,066 4,662 12,951 3,131 1 ,745 3,158 3 ,602 11,361 Cash items in process of collection 10,180 449 1,642 439 526 1,069 1,222 1,546 482 450 747 605 1,003 Bank premises 237 52 11 16 27 14 15 16 14 35 17 12 8 Other assets 3/ 835 39 193 50 55 98 44 110 26 25 32 30 133 TOTAL ASSETS 106,762 4,756 27,320 5,520 7,840 8,718 6,574 16,062 3,942 2 ,517 4,370 4 ,595 14,548 _1/ Excludes $3,061 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $111 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Estimated (Chicago, 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 EACH FEDERAL RESERVE BANK ON JUNE 5, 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 E S. Federal Reserve notes 66,265 3,241 16,399 4,162 5,263 5,882 3,529 10,925 2,680 1,247 2,530 2,492 7,915 Deposits: Member bank reserves 27,761 901 8,062 822 1,823 1,562 1,854 3,463 756 719 1,053 1,397 5,349 U. S. Treasurer—general account 1,340 91 319 35 52 198 67 143 65 71 62 103 134 Foreign 330 14 17 84 16 29 18 24 52 11 8 14 18 42 Other 3/ 687 6 " 579 8 3 20 19 10 2 2 5 10 23 Total deposits 30,118 1,012 9,044 881 1,907 1,798 1,964 3,668 834 800 1,134 1,528 5,548 Deferred availability cash items 7,376 378 1,131 326 429 857 880 958 326 401 590 416 684 Other liabilities and accrtl ed dividends 1,105 52 271 62 82 79 61 ML 41 25 41 47 168 TOTAL LIABILITIES 104,864 4,6S3 26,845 5,431 7,681 8,616 6,436 15,725 3,881 2,473 4,295 4,483 14,315 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 181 4 33 5 8 7 10 70 4 3 4 19 14 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 106,762 4,756 27,320 5,520 7,840 8,718 6,574 16,062 3,942 2,517 4,370 JS 595 14,548 Contingent liability on ace. eptances purchased for forei- gn 725 30 2/ 185 35 64 40 53 114 24 17 30 40 93 correspondents FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,355 17,190 4,241 5,415 6,063 3,783 11,114 2,789 1,296 2,662 2,641 8,302 Collateral for F. R. notes: Gold certificate account 100 -- 300 350 630 700 50 5 U. S. Government securities 3,280 17,250 4,000 5,200 5,500 3,900 10,600 2,785 1,320 2,700 2,680 8,400 Total collateral 3,380 17,250 4,300 5,550 6,130 3,900 11,300 2,835 1,320 2,700 2,685 8,400 \j After deducting $ 246 million participations of other Federal Reserve Banks. ^Estimated (Chicago, Dallas and San Francisco Districts.) 2/ After deducting $ 540 million participations of other Federal Reserve Banks* 3/ Includes $42 million of certain deposits nonmember banks and foreign-owned banking institutions held with member banks and redeposited in program, of credit ~~ full with Federal Reserve Banks in connection with voluntary participation by nonmember institutions in the Federal Reserve System's progi restraint. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis