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 June 13, 1974 The average of daily figures for total reserves of member banks declined $477 million in the latest statement week to a level of $35,803 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all cU lined. Major factors providing reserves in the latest statement week were declines in Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital. Partially offsetting these reserve gains were an increase in currency in circulation and a decline in float, In addition, System Open Market Operations absorbed $1,890 million reserves net, on a weekly average basis, through outright sales of Treasury bills, matched sale-purchase transactions and maturing re purchase agreements made in the previous week. Reserves were provided late in the week through outright purchase of Treasury bills and re purchase agreements. Averages of daily figures Member Dank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 12, June 5, June 13, June 12, and related items 1974 1Q7A 1973 1974 Reserve Bank credit: (In millions of dollars) 1/2/ U.S. Government securities-- Bought outright--System account 78,224 -1,283 +5,505 78,215 Held under repurchase agreements 350 - 277 + 350 1,714 Federal Agency obligations-- Bought outright 2,590 31 +1,356 2,549 Held under repurchase agreements 103 - 217 + 103 511 Acceptances — Bought outright 96 1 + 26 95 Held under repurchase agreements 49 81 + 49 301 Loans-- Total member bank borrowing 2,729 - 325 +1,029 3,155 Includes seasonal borrowing of: 136 + 5 + 69 134 Other borrowing Float 2,032 - 160 - 308 2,308 Other F.R. assets 1,036 + 23 + 149 1,090 Total Reserve Bank credit 87,209 -2,353 +8,259 89,938 Gold stock 11,567 __ +1,157 11,567 Special Drawing Rights certif. acct. 400 .- -- 400 Treasury currency outstanding 8,862 + 3 + 347 8,865 108,038 -2,351 +9,763 110,770 Currency in circulation 73,846 + 502 +6,112 74,166 Treasury cash holdings 283 19 - 105 296 Treasury deposits with F.R. Banks 931 -1,873 - 470 906 Foreign deposits with F.R. Banks 309 90 + 56 359 Other deposits with F.R. Banks 4/ 674 20 + 11 650 Other F.R. liabilities and capital 3,041 - 234 + 400 3,101 79,084 -1,734 +6,004 79,478 Member bank reserves: With Federal Reserve Banks 28,954 - 616 +3,759 31,292 Currency and coin 6,791 4- 139 + 557 6,791 Total reserves he Id3/ 35,803 - 477 +4,202 38,141 Required reserves 35,670 - 396 +4,074 35,670 Excess reserves^/ 133 ^ NOTE: A net of $104 million of surplus reserves were eligible to be carried forward from the week ended June 5, into the week ending June 12. On June 12, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,724 million, an increase of $85 million for the week. 1/ Excludes $1,519 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2J Includes $96 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. 4/ Includes $44 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

H.4.1(a) [ON OF ALL FEDERAL RESERVE BAN!C S of dollars) Wednesday Change since June 12, June 5, June 13, 197^ 1974 1973 A S S E TS Gold certificate account 11,460 —— + 1,157 Special Drawing Rights certif. accts. * 400 — — Cash (923) 211 -4- 1 90 Loans 3,155 -f 444 + 1,461 Acceptances—Bought outright 95 - 5 + 30 Held under repurchase agreements 301 + 301 + 301 Federal Agency obligations—Bought outright 2,549 - 72 + 1,329 Held under repurchase agreements 511 + 511 + 511 U.S. Government securities: Bought outright--Bills 35,877 +1,177 + 5,003 Certificates - Other Notes 39,533 — + 2,597 Bonds 2,805 .. 806 Total bought outright 1/ 2/ 78,215 +1,177 + 6,794 Held under repurchase agreements 1.714 +1.714 + 1,714 Total U.S. Government securities 79,929 +2,891 + 8,508 Total loans and securities 86.540 +4,070 +12,140 Cash items in process of collection (1,595) 7,859 - 388 - 1,273 Bank premises 236 1 + 34 Other assets J/ 854 + 13 + 108 TOTAL ASSETS (2,518) 107,560 -+3,695 +I2,07o~ IiIAlIIiIlIES, Federal Reserve notes (923) 65,701 + 417 + 5,657 Deposits: Member bank-reserves account 31,212 +3,443 + 6,957 U. S. Treasurer—general account 906 - 434 616 Foreign 359 + 29 + 98 Other J/ 650 - 33 + 26 Total deposits 33,127 +3,005 + 6,465 Deferred availability cash items (1,595) 5,631 + 103 - 547 Other liabilities and accrued dividends 1,149 + 44 + 332 TOTAL LIABILITIES (2,518) 105,608 +3,569 +11,907 £ A L I 1 A L ACCOUNTS Capital paid in 875 + 2 + 59 Surplus 844 — + 51 Other capital accounts 233 + 124 + 59 Contingent liability on acceptances purchased for foreign correspondents 724 1 328 ^Figures in parentheses are the eliminations made in the consolidating process. ^/Excludes $1519 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/Includes $96 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/Includes assets denominated in foreign currencies. 4/Included $44 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, June 12, 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 3,063 335 7,167 +4,574 510 +438 16 days to 90 days 92 61 2l|436 -1,494 60 + 11 91 days to 1 year 21,620 - 189 333 + 21 Over 1 year to 5 years 19,879 — 1,100 + 29 Over 5 years to 10 years 7,867 — 703 - 43 Over 10 years 1,960 — 354 - 17 Total 3,155 396 79,929 +2,891 3,060 +4-39 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 12, 1974 Total Boston Y N o e r w k d P e h l il p a hi a C l l a e n v d e m R o i n c d h Atlanta Chicago L S o t u . i s M a i p n o n l e i s K Ci a t ns y a s Dallas F S r a a n n cisco (In millions of dollars) ASSETS. Gold certificate account 1,460 541 3 ,825 502 798 965 259 1,414 330 155 411 189 2,071 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R, notes of other banks 923 39 256 23 33 89 144 56 24 19 34 58 148 Other cash 211 13 15 3 28 23 33 19 15 6 23 12 21 Loans 3,155 147 1, 578 151 56 206 292 339 33 80 112 101 60 Acceptances: Bought outright 95 - 95 .... ~- „ - Held under repurchase agreements 301 -- 301 -- — -- -- — — — -~ -- -- Federal Agency obligations-- Bought outright 2,549 123 629 146 192 187 142 409 98 54 97 113 359 Held under repurchase agreements 511 -- 511 _- — -- -. — — __ — — -- U.S. Government securities: Bought outright-- Bills 35,877 1,732 8,853 2,051 2,701 2,628 1,998 5,763 1,383 761 1,363 1,585 5,059 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 1/ 2/ Total bought outright 78,215 3,776 19,301 4,470 5,i 5,730 4,355 12,565 3,014 1,658 2,973 3,455 11,030 Held under repurchase agreements 1,714 1,714 Tota 1 U.S. Government. securities 79,929 3,776 21,015 4,470 5,888 5,730 4,355 12,565 3J314 1,658 2,973 3,455 11,030 Total loans and securities 86,540 4,046 24,129 4,767 6,136 6,123 4,789 13,313 3,145 1,792 3,182 3,669 11,449 1 OAQ 1 Ol O 1T,O3O2 0 A 1 -7 "71 O 639 1,094 Bank premises. 236 51 11 16 27 14 15 16 14 -+ x / 17 12 8 Other assets 3/ 854 37 194 54 58 61 46 125 30 35 29 36 164 20 TOTAL ASSETS 110,078 5,130 29,808 5,779 7,616 8,374 6,527 16,333 4,003 2,451 4,424 4,629 15,004 \J Excludes $1,519 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $96 million secutiries loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 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 12, 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 66,624 3,256 16,461 4,194 5,302 5,927 3,559 10,969 2,691 1,254 2,548 2,512 7,951 Deposits: Mamber bank reserves 31,212 1,378 10,026 1,090 1,647 1,360 1,825 3,852 897 111 1,113 1,488 5,814 U. S. Treasurer—general account 906 * , 906 * * * Foreign 359 17 y 54 20 36 23 30 64 14 9 17 23 52 Other 3/ 650 5 541 13 1 19 19 13 4 4 5 11 15 Total deposits 33,127 1,400 11,527 1,123 1,684 1,402 1,874 3,929 915 735 1,135 1,522 5,881 Deferred availability cash items 7,226 345 981 308 380 859 889 958 290 392 621 445 758 Other liabilities and accnl ed dividends 1,149 52 337 60 82 76 62 162 39 24 41 47 167 TOTAL LIABILITIES 108,126 5,053 29,306 5,685 7,448 8,264 6,384 16,018 3,935 2,405 4,345 4,526 14,757 CAPITAL ACCOUNTS 875 35 227 42 77 49 66 135 It 21 36 48 111 Capital paid in 844 34 215 42 74 47 62 132 29 20 35 46 108 Surplus Other capital accounts 233 8 60 10 17 14 15 48 11 5 8 9 28 TOTAL LIABILITIES AND 110,078 5,130 29,808 5,779 7,616 8,374 6,527 16,333 4,003 2,451 4,424 4,629 15,004 CAPITAL ACCOUNTS Contingent liability on acer eptances purchased for foreign 724 30 11 184 35 64 40 53 114 24 17 30 40 93 correspondents FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 65,215 3,345 17,256 4,271 5,434 6,098 3,845 11,195 2,831 1,294 2,672 2,633 8,341 Collateral for F. R. notes: Gold certificate account 2,175 100 30C 350 670 700 50 5 U. S. Government securities 68,065 3,280 17,450 4,000 5,200 5,500 4,000 10,600 2,835 1,320 2,700 2,680 8,500 Total collateral 70,240 3,380 17,450 4,300 5,550 6,170 4,000 11,300 2,885 1,32- 2,700 2,685 8,500 1/ After deducting $ 305 million participations of other Federal Reserve Banks, 2 cAn * Less than $503,000. jj After deducting $ D£fU million participations of other Federal Reserve Banks. -' Includes $44 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