H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and «;H* Condition Statement of F.R. Banks H.4.1 For immediate release June 27, 1974 The average of daily figures for total reserves of member banks declined $192 million in the latest statement week to a level of $36,529 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined. A decline in float and increases in Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital were the major factors absorbing reserves in the latest statement.week. Partially offsetting these reserve drains were de clines in. currency in circulation and foreign deposits with Federal Reserve Banks. In addition, System Open Market Operations provided $825 million reserves net, on a weekly average basis through repur chase agreements. Averages of daily figures Member bank reserves, Week ended Change from wee <c ended Wednesday, Reserve Bank credit, June 26, June 19, June 27, June 26,* and related items 1974 * 1974 ' 1973 1974 Reserve Bank credit: (In millions of dollars) 1/ U.S. Government securities-- Bought outright—System account 79,500 - 234 + 5,117 79,427 Held under repurchase agreements 1,228 + 617 + 1,205 1,045 Federal Agency obligations— Bought outright 2,549 -- + 1,100 2,549 538 + 415 + 522 534 Held under repurchase agreements Acceptances — Bought outright 95 + 1 + 26 96 Held under repurchase agreements 155 + 26 + 153 161 Loans — Total member bank borrowing 2,788 . 435 + 939 2,984 133 - 9 + 40 132 Includes seasonal borrowing of: Other borrowing Float 2,055 . 110 - 567 2,487 Other F.R. assets 1,162 + 67 + 163 1,209 Total Reserve Bank credit 90,071 + 348 + 8,659 90,492 Gold stock 11,567 -- + 1,157 11,567 400 -- ._ 400 Special Drawing Rights certif. acct. Treasury currency outstanding 8,891 + 11 + 365 8,892 110,929 + 360 +10,180 111,351 Currency in circulation 73,692 . 246 + 6,112 73,955 Treasury cash holdings 298 + 6 - 83 303 Treasury deposits with F.R. Banks 2,659 +1 ,148 - 403 2,693 Foreign deposits with F.R. Banks 343 - 649 + 66 282 Other deposits with F.R. Banks If 686 + 12 - 7 692 Other F.R. liabilities and capital 3,265 + 125 + 533 l 3,290 80,943 + 396 -f 6,219 81,215 Member bank reserves: With Federal Reserve Banks 29,985 .. 37 + 3,960 i 30,135 Currency and coin 6,486 - 155 + 463 6,486 Total reserves he Id ,2/ 36,529 - 192 + 4,309 36,679 Required reserves 36,425 - 38 + 4,425 36,425 Excess reserves j2/ 104 « 154 - 116 254 NOTE: A net of $78 million of surplus reserves were eligible to be carried forward from the week ended June 19, into the week ending June 26. On June 26, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $29,310 million, an increase of $146 million for the week. JL/ Includes $163 million securities loaned-~fully secured by U.S. Government securities pledged with Federal Reserve Banks. l_l 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 Regula tion J as amended effective November 9, 1972. V Includes $42 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 institutions in the Federal Reserve System's program of credit restraint. * Estimated (Boston, St. Louis and Dallas 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 26,• k* June 19, June 27, 1974 1974 1973 A S S E TS _ Gold certificate account 11,460 — + 1,157 Special Drawing Rights certif. accts. * 400 -. -- Cash (1 ,098) 216 -- 83 Loans 2,984 + 498 + 1,401 Acceptances—Bought outright 96 + 1 + 29 Held under repurchase agreements 161 + 161 + 161 Federal Agency obligatons—Bought outright 2,549 -- + 1,100 Held under repurchase agreements 534 + 534 + 534 U. S. Government securities: Bought outright--Bills 37,089 - 307 + 3,220 Certificates - Other Notes 39,533 — + 2,597 Bonds 2,805 -- 806 Total bought outright 1/ 79,427 - 307 + 5,011 Held under repurchase agreements 1,045 +1,045 + 1,045 Total U.S. Government securities 80,472 + 738 + 6,056 Total loans and securities 86,796 +1,932 + 9,281 Cash items in process of collection (1,651) 8,467 - 539 82 Bank premises 238 -- + 36 Other assets 2/ 971 + 75 + 92 TOTAL ASSETS (2,749) 108,548 +1,468 +10,401 LI A BJL IT IE S Federal Reserve notes (1,098) 65,476 - 47 + 5,583 Deposits: Member bank--reserves account 30,055 +2,311 + 5,136 U. S. Treasurer--general account 2,693 - 253 890 Foreign 282 - 471 96 Other 3/ (2) 692 3 9 Total deposits (2) 33,722 +1,584 + 4,141 Deferred availability cash items (1,649) 6,060 - 218 + 156 Other liabilities and accrued dividends 1,129 + 35 + 311 TOTAL LIABILITIES (2,749) 106,387 +1,354 +10,191 C A P I T A^ L A C C O U N TS Capital paid in 876 + 56 Surplus 844 + 51 Other capital accounts 441 + 114 + 103 Contingent liability on acceptances purchased for foreign correspondents 769 371 * Figures in parentheses are the eliminations made in the consolidating process. 1_/ Includes $163 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 3/ Includes $42 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 (Boston, St. Louis, and Dallas Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, June 26. 1974 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts Accept U. S. Government Federal Agency and -ances securities obligations Advances Holdings Weekly Holdings Weekly changes Changes Within 15 days 2,942 181 6,855 +2,453 538 +534 16 days to 90 days 42 76 23,372 - 734 55 — 91 days to 1 year — — 20,539 - 981 333 — 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 2,984 257 80,472 + 738 3,083 +534 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.Ub) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 26, 1974 New Phila Cleve Rich St. Minne Kansas San Total Boston * York delphia land mond Atlanta Chicago Louis * apolis City D a i i a s " Francisco (In millions of dollars) A S S E TS ! Gold certificate account 11,460 383 3,802 509 1,010 1,067 372 1,559 377 194 517 470 1,200 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,098 49 258 40 52 105 155 67 39 26 39 64 204 Other cash 216 13 19 5 28 22 31 20 15 6 24 10 23 Loans 2,984 224 1,535 53 60 260 111 207 41 75 78 76 98 Acceptances: Bought outright 96 96 -- -- Held under repurchase agreements 161 -- 161 -- -- -- -- -_ -- -_ — -- __ Federal Agency obligations-- Bought outright 2,549 123 629 146 192 187 142 409 98 54 97 113 359 Held under repurchase agreements 534 -- 534 -- -- -- -- -- -- ._ -- -- -- U.S. Government securities: Bought outright-- Bills 37,089 1,790 9,152 2,120 2,792 2,717 2,066 5,958 1,429 787 1,409 1 ,639 5,230 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 79,427 3,834 19,600 4,539 5,979 5,819 4,423 12,760 3,060 f, 684 3,019 ~~T,5 09 11,201 Held under repurchase agreements 1,045 -- 1,405 -- -- ..- -- -- -- -- -- -- -- Total U.S. Government securities 80,472 3,834 20,645 4,539 5,979 5,819 4,423 12,760 3,060 1, 684 3,019 ~T, 509 11,201 Total loans and securities 86,796 4,181 23,600 4,738 6,231 6,266 4,842 13,376 3,199 1 ,813 3,194 3 ,698 11,658 Cash items in process of collection 10,118 637 1,371 417 474 983 1,378 1,304 512 432 774 700 1,136 Bank nremises 1 11Q CI i i 1 i. £ KJ t 1 - - 7 1 i /. 1 C i4 1 C 1J L "17 11 uo Other assets 2/ 971 46 225 57 69 70 55 137 35 22 32 52 171 TOTAL ASSETS 111,297 5,385 29,379 5,805 7,924 8,563 6,870 16,549 4,206 2 ,535 4,612 5 ,020 14,449 \_i Includes $163 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 27 Includes assets denominated in foreign currencies. * Estimated (Boston, St. Louis and Dallas 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 26 , 1974 New Phila Cleve Rich St. ^ Minne Kansas San Total Boston, , York delphia land mond Atlanta Chicago Louis apolis City Dall * a s Fran cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 66.574 3,275 16,496 4,171 5,303 5,955 3,545 10,940 2,685 1,249 2,532 2,514 7,909 Deposits: Member bank reserves 30,055 1,143 9,800 958 1,757 1,314 1,899 3,902 820 733 1,124 1,613 4,992 U. S. Treasurer—general account 2,693 262 497 142 185 209 266 236 153 76 154 189 324 Foreign 282 9 1/ 111 11 20 13 17 36 8 5 9 13 30 Other 3/ 694 4 583 8 1 15 24 17 1 3 3 21 14 Total deposits 33,724 1,418 10,991 1,119 1,963 1,551 2,206 4,191 982 817 1,290 1,836 5,360 Deferred availability cash items 7,709 550 "1,011 350 393 853 901 916 425 395 662 510 743 Other liabilities and accnl ed dividends 1,129 55 317 59 81 78 63 167 38 24 40 48 159 TOTAL LIABILITIES 109,136 5,298 28,815 5,699 7,740 8,437 6,715 16,214 4,130 2,485 4,524 4,908 14,171 CAPITAL ACCOUNTS Capital paid in 876 35 227 42 78 49 66 135 28 21 36 48 111 Surplus 844 34 215 42 74 47 62 132 29 20 35 46 108 Other capital accounts 441 18 122 22 32 30 27 68 19 9 17 18 59 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 111,297 5,385 29,379 5,805 7,924 8,563 6,870 16,549 4,206 2,535 4,612 5,020 14,449 Contingent liability on ace: eptances purchased for foreiL gn correspondents 769 31 2/ 196 38 68 43 56 121 26 18 32 42 98 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,364 17,297 4,547 5,466 6,141 3,862 11,185 2,838 1,292 2,673 2,648 8,385 Collateral for F. R. notes: Gold certificate account 100 — 300 350 670 700 50 5 U. S. Government securities 3,280 17,450 4,100 5,200 5,530 4,000 10,000 2,835 1,320 2,800 2,680 8,500 Total collateral 3,380 17,450 4,400 5,550 6,200 4,000 11,300 2,885 1,320 2,800 2,685 8,500 J7 After deducting $ 171 million participations of other Federal Reserve Banks. 2/ After deducting $ 573 million participations of other Federal Reserve Banks. 3/ Includes $42 million of certain deposits of domestic nonmember banks and foreign-owned banking institutions held with member banks and redeposited in fuU with Federal Reserve Banks in connection with voluntary participation by nonmember institutions in the Federal Reserve System's program in cr.dit restraint. * Estimated (Boston, St. Louis, and Dallas Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis