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 20, 1974 The average of daily figures for total reserves of member banks increased $918 million in the latest statement week to a level of $36,721 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. Major factors absorbing reserves in the latest statement week were increases in currency in circulation, other Federal Reserve liabilities and capital, as well as Treasury and foreign deposits with Federal Reserve Banks. An increase in float was the only factor providing a significant amount of reserves. In addition, System Open Market Operations provided $1,828 million reserves net, on a weekly average basis through repurchase agreements and the redemption of matched sale-purchase transactions made in the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 19, June 12, June 20, June 19, and related items 1974 1974 1973 1974 Reserve Bank credit: (In millions of dollars) IT U.S. Government securities-- Bought outright—System account 79,734 +1,510 + 6,411 79,734 Held under repurchase agreements 611 + 261 + 320 Federal Agency obligations— Bought outright 2,549 41 + 1,329 2,549 Held under repurchase agreements 123 + 20 + 59 Acceptances — Bought outright 94 2 + 26 95 Held under repurchase agreements 129 80 + 104 -- Loans — Total member bank borrowing 3,223 494 + 1,295 2,486 Includes seasonal borrowing of: 142 6 + 69 134 Other borrowing Float 2,165 133 326 2,808 Other F.R. assets 1,095 59 + 155 1,134 Total Reserve Bank credit 89,723 +2,514 + 9,373 88,806 Gold stock 11,567 11,567 + 1,157 11,567 Special Drawing Rights certif. acct. 400 -- 400 Treasury currency outstanding 8,880 + 18_ + 360 8,886 110,569 +2,531 +10,889 109,659 Currency in circulation 73,938 + 92 + 6,178 73,991 Treasury cash holdings 292 + 9 93 308 Treasury deposits with F.R. Banks 1,511 + 580 142 2,946 Foreign deposits with F.R. Banks 992 + 683 + 746 753 Other deposits with F.R. Banks 3/ 674 94 695 Other F.R. liabilities and capital 3,140 99 + 481 3,141 80,547 +1,463 + 7,076 81,834 Member bank reserves: With Federal Reserve Banks 30,022 +1,068 + 3,812 27,824 Currency and coin 6,641 - 150 + 747 6,641 Total reserves held 2/ 36,721 + 918 + 4,445 34,523 Required reserves 36,463 + 793 + 4,331 3b,463 Excess reserves2/ 258 + 125 + 114 -1,940 NOTE: A net of $63 million of surplus reserves were eligible to be carried forward from the week ended June 12, into the week ending June 19. On June 19, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $29,164 million, an increase of $440 million for the week. 1/ Includes $98 million securities loaned-~fully secured by U.S. Government securities pledged with Federal Reserve Banks. 1/ 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 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) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since June 19, June 12, June 20, 1974 1974 1973 A S S E TS Gold certificate account 11,460 +1,157 Special Drawing Rights certif. accts. * 400 Cash (1 ,058) 216 + 5 88 Loans 2,486 - 669 + 725 Acceptances—Bought outright 95 + 28 Held under repurchase agreements - 301 - 56 Federal Agency obligations--Bought outright 2,549 +1,329 Held under repurchase agreements - 511 - Ill U.S. Government securities: Bought outright—Bills 37,396 +1,519 +3,886 Certificates - Other Notes 39,533 +2,597 Bonds 2.805 - 806 Total bought outright 79,734' 4-1,519 +5,677 Held under repurchase agreements -1,714 - 865 Total U.S. Government securities 79,734 - 195 +4,812 Total loans and securities 84,864 -1,676 +6,727 Cash items in process of collection (1,978) 9,006 +1,147 - 931 Bank premises 238 + 2 + 36 Other assets 2/ 896 + 42 + 108 TOTAL ASSETS (3,036) 107,080 480 +7,009 IiIAlIIilllES, Federal Reserve notes (1,058) 65,523 - 178 +5,640 Deposits: Member bank-reserves account 27,744 -3,468 - 274 U. S. Treasurer—general account 2,946 +2,040 + 883 Foreign 753 + 394 + 479 Other 3/ 695 + 45 + 36 Total deposits 32,138 - 989 +1,124 Deferred availability cash items (1,978) 6,278 + 647 - 200 Other liabilities and accrued dividends 1,094 - 55 + 264 TOTAL LIABILITIES (3,036) 105,033 575 +6,828 £ A L 11 A L. A C C O U N TS Capital paid in 876 + 1 + 57 Surplus 844 — + 51 Other capital accounts 327 + 94 + 73 Contingent liability on acceptances purchased for foreign correspondents 762 38 + 362 ^Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $98 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 3./ Included $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. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, June 19, 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 2,421 25 4,402 -2,765 4 -506 16 days to 90 days 65 70 24,106 +2,670 55 - 5 91 days to 1 year 21,520 - 100 333 -- Over 1 year to 5 years 19,879 1,100 Over 5 years to 10 years 7,867 703 — Over 10 years « 1,960 —— 354 Total 2,486 95 79,734 - 195 2,549 311 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1U)) STATEMENT OF CONDITION 0»" EACH FEDERAL RESERVE BANK ON j:j[u !•?, J9/.; Tor.al Boston Y N o ev rk d Ph el i J p h a i - aj I C la l n o d v e-1 Rich- | Atlanta : Chicago St. Minue- o \. i a: t i v 5as • ! :ia (In million c?i" dollars) A 3 S C T 5 .^l-l re^.-lri.jatt- at'count G -• _-> 17 V 9 Special 'jr^vin^ Rights certif. acct. L 2 J F.R. ?.or.es of other banks 216 _'J ;5 i 16? 129 Loans Acceptances: f>c JpV11 .?vii' 1':u'-~ Jc-jf,.".-: u'.ri^i-.:: 113 welo Lf'd^r • eru: ch&j'- apr --ine^ti i, i:-_ i s ;> :•H, L ! j 396 2,201 1.503 c L, •;' £• i"!Yl 3,350 19,c 76 1v r 309 3 0 72 3.522 LU.4^ + ,031 21 c; c 2 A ") :>. LI,£81 416 i .642 1,192 1.313 10/- :23 U23! c -; li 43 210 .0 33 27, c<, t i c 4,15/ d' -fullv secured by 11.2. U nment securities pledged with Federal heseive Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OK EACH FEDERAL RESERVE BASK ON June 19, 1974 New ! Fhi'Ja-jC'leve- Rich- ; i St. ; Mi nne- jKansar San Total jBoston J York ; de iphia! land mond ;-A-^a»ta [Chicago; |ouis ; apoaipiso Ji's c r , vC. ity {Dallas ! Fran ran- -i_ cisco (In r.ii M ions 01 dollars) ~ I A B I 1 I I I 3 S Federal Reserve notes 3,?.')^ 3.301 3.930 3.:.s,;, i. .,:••)?. r;,537 :.,3ii 7,9: Deposits: Member bank reserves -Li L> ; •-.•' ) 1 / i~ : s p :'.3i .098 731 / ) rt I > vi 1 '\ . =. j i U. S, Treasurer--general account 2 33 : n': 5 30 203 !B7 Foreign ":r L- -~- ; \~• '• l ;..- ;"•, Ci 1L5 35 Other £"": cQ5; _ __ _ 2.Z ?_.^.? Total deposits ,136! 1,16/ 3,750 ..,:>,.3 -,788 1,010 903 l ? 36'i 1,867 3,583 Deferred availability cash items ';-^.: \,^.. -->,v ,,038 3-6 ^1- 6---6 193 864 Other liabilities and accrued dividends 39 TOTAL LLABiLUTES <-••, 380 CAPITAL ACCOUNTS Capital paid in .18 36 -.8 Surplui: 13/ C9 33 •4 6 1 08 Other capital accounts i ;; ! 2 13 TOTAL, LIABILITIES AND CAPITAL ACCOUNTS >,U.r; //.. .i :,':/9 /,:•*:?/ 8,618 r-,,-86 1} y 'Mjr.. ,6/1 3,039 L-',803 Contingent liability on accept ances purchased ror foreign correspondents _ _ FEDERAL RESERVE. AGENTS' ACCOUNTS E. R. not e s on t s t and ing •V.~fw 3/r63 6,i::l 3,836 11,211 2,8.«> l,/96 >,o/6 2,648 8,380 - - .»-'-•'. -'»•' Collateral for F. R. notes: Z-r*!. d c e r t i f i c a te ace o\ i n t -00 330 6/0 - /()(.) 50 -- -- 5 11. S. Government se cur it if c'j,jo.); J, .".O:J V,200 5,COO 3,300 -,000 10,600 C,333 1 ? 3C0 ?,300 C,680 8,500 Total collateral 70 ? 3-,0: 3.33. I7,H30 4,300 !>,3:»0 C , L /U H , «.;L-"l 8,^.- 1/ After decuctint; $~;<L'L!- m: lion sat ticipationf- of ot-ln-r Federal Reserve Banks. 2/ After ce ir?i •.. .;. J.or: p 'j r t :»: -. p£11 :o>tnhs» .i Federal Reserve Banks. -11 ion s erve Ban:<.= in C <. n •-•: e c i: ic- ' : '• '•'•' I'ionriifiyr-Ser bank.^ UJO foi"6:'.?.r oar.icin.r; mst-.t-jf «e-Tiber saass sne; leCepo- ...iit :5:-e:a; Ket" vrair c: :rj Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis