H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and '•f*Ai^*r- Condition Statement of F.R. Banks H.4.1 For immediate release July 11, 1974 The average of daily figures for total reserves of member banks declined $347 million in the latest statement week to a level of $36,855 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined. Major factors absorbing reserves in the latest statement week were increases in currency in circulation and Treasury deposits with Federal Reserve Banks. Offsetting these reserve drains were an increase in float and a decline in other Federal Reserve liabili ties and capital. System Open Market Operations provided $45 million reserves net, on a weekly average basis, through repurchase agreements and outright purchases of Treasury bills and Federal Agency Obligations. Averages of daily figures Member Dank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 10, July 3, ' July 11, July 10, and related items 1974 1974 1973 1974 ' Reserve Bank credit: (In millions of dollars) U.S. Government securities-- 1/ Bought outright--System account 79,898 + 91 +4,697 79,935 Held under repurchase agreements 564 -222 + 317 746 Federal Agency obligations-- Bought outright 3,109 +253 +1 ,660 3,151 Held under repurchase agreements 419 - 65 + 314 678 Acceptances-- Bought outright 102 + 4 + 39 114 Held under repurchase agreements 215 - 16 + 194 275 Loans-- Total member bank borrowing 2,642 -792 + 963 2,270 Includes seasonal borrowing of: 137 + 11 + 20 140 Other borrowing Float 2,938 +816 - 793 3,089 Other F.R. assets 1,259 + 6 + 169 1,343 Total Reserve Bank credit 91,146 + 75 +7 ,561 91, 601 Gold stock 11,567 -- +1 ,157 11, 567 Special Drawing Rights certif. acct. 400 -- 400 Treasury currency outstanding 8,898 + 4 + 361 8 ,898 112,010 + 78 +9 ,078 112, 466 Currency in circulation 74,876 +771 +6 ,214 75, 154 Treasury cash holdings 2 75 - 14 - 91 277 Treasury deposits with F.R. Banks 2,957 +176 -1 ,021 2 ,447 Foreign deposits with F.R. Banks 289 - 61 + 5 241 Other deposits with F.R. Banks 2/ 753 - 24 + 24 764 Other F.R. liabilities and capital 3,050 -190 + 78 3 ,144- 82,201 +658 +5 210 82. 027 Member bank reserves: With Federal Reserve Banks 29,809 -581 +3 867 30 ,438 Currency and coin 7,046 +234 + 581 7 046 Total reserves held 36,855 -347 ++44,,3 33366 I 37,484 Required reserves 36,613 -291 ++44,, 008899 ( 36,613 Excess reserves 242 - 56 ++ 224477 871 NOTE A net of $140 million of surplus reserves were eligible to be carried forward from the week ended July 3, into the week ending July 10. On July 10, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $29,789 million, an increase of $292 million for the week. 1/ Includes $203 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes $48 million of certain deposits of domestic nonmember banks and foreignowned banking institutions held with member banks and redeposlted 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 BANBC S (In millions of doll]a rs) Wednesday Change since July 10, July 3, July 11, 1974 1974 197T A S S E TS Gold certificate account 11,460 + 1,157 Special Drawing Rights certif. accts. 400 -- --. Cash (930) 196 - 9 98 Loans 2,270 -731 34 Acceptances — Bought outright 114 + 15 + 57 Held under repurchase agreements 275 - 9 + 275 Federal Agency obligatons--Bought outright 3,151 +298 + 1,702 Held under repurchase agreements 678 + 45 + 678 U. S. Government securities: Bought outright — Bills 37,421 4- 43 + 5,499 Certificates - Other Notes 39,692 + 2,554 Bonds 2,822 - 842 Total bought outright 79,935 43 + 7,211 Held under repurchase agreements 746 97 + 746 Total U.S. Government securities 80,681 +140 + 7,957 Total loans and securities 87,169 -242 +10,635 Cash items in process of collection (1,534) 8,662 -589 - 1,659 Bank premises 241 + 1 + 34 Other assets 2] 1,102 + 76 + 144 TOTAL ASSETS (2,464) 109,230 -763 +10,213 L I A B I L I T I ES Federal Reserve notes (930) 66,623 +385 + 5,726 Deposits: Member bank--reserves account 30,358 -302 + 5,983 U. S. Treesurer--general account 2,447 -143 - 1,794 Foreign 241 - 28 28 Other 3/ (2) 764 +127 + 75 Total deposits (2) 33,810 -346 + 4,236 Deferred availability cash items (1,532) 5,653 -975 - 273 Other liabilities and accrued dividends + 66 TOTAL LIABILITIES (2,464) 107,308 -870 +10,070 C AP I T A L A C C O U N TS Capital pai^ in 879 + 57 Surplus 844 + 51 Other capita accounts 199 +107 + 35 Contingent liability on acceptances purchased for foreign correspondents 866 + 31 415 * Figures in parentheses are the eliminations made in the consolidating process. 17 Includes S203 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 27 Includes assets denominated in foreign currencies. .3/ Includes $48 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. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, July 10, 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 Loans -ances securities obligations Holdings Weekly Holdings Weekly changes Changes Within 15 days 2,174 300 5,801 +199 705 + 72 16 days to 90 days 96 89 23,703 -146 36 - 27 91 days to 1 year 21,342 + 87 460 + 57 Over 1 year to 5 years 19,914 -- 1,445 +183 Over 5 years to 10 years 7,945 — 789 + 35 Over 10 years -- 1,976 .- 394 + 23 Total 2,270 389 80,681 +140 3,829 +343 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 JULY 10, 1974 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City D<a lias Francisco (In millions of dollars) A S S E TS Gold certificate account 11,460 446 3,171 541 881 1,197 221 1,912 413 306 393 488 1,491 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 930 31 238 26 42 89 142 49 25 24 42 60 162 Otliei cash 196 11 16 4 26 20 29 19 13 5 22 10 21 Loans 2,270 27 1,405 65 56 149 109 202 36 64 78 57 22 Acceptances: Bought outright 114 - 114 -- _. .. -- Held under repurchase agreements 275 — 275 -- __ -- — -- -- _. -_ .. .. Federal Agency obligations-- Bought outright 3,151 146 776 176 243 233 174 498 121 66 124 142 452 Held under repurchase agreements 678 ! -- 678 — -- — — -. ... -- --. .. U.S. Government securities: Bought outright-- Bills 37,421 1,735 9,217 2,094 2,890 2,767 2,064 5,917 1,434 778 1,468 1 ,692 5,365 Certificates: Other "" -- -- — -_ -- — — -- -. — .. .. Notes 39,692 1,841 9,777 2,221 3,066 2,934 2,189 6,277 1,520 825 1,557 1 ,795 5,690 Bonds 2,822 131 695 158 218 208 156 446 108 59 HI 128 404 Total bought outright —(/ 79,935 3,707 19,689 4,473 6,174 5,909 4,409 12,640 3,062 _ ,662 3,136 ~T,6 15 11,459 Held under repurchase agreements 746 -- 746 -- ~- — — — -- -- — Total U.S. Government securities 80,681 ; 3,707 20,435 . 4,473_ 6,174 5,909 4,409 12,640 3,062 "T,6 62 "T7l36 ~~,T61 5 11.459 ~ Total loans and securities 87,169 | 3,880 23,683 4,714 6,473 6,291 4,692 13,340 3,219 i ,792 3,338 3 ,814 11,933 Cash items in process of collection 10,196 ] 432 1,673 406 446 974 1,522 1,328 455 414 713 640 1,193 Bank premises 241 53 11 19 27 14 15 16 14 35 17 12 8 Other assets —' 1,102 45 248 87 76 77 57 149 39 24 37 44 219 TOTAL ASSETS 1 111,694 4,921 29,133 5,820 8,004 8,698 6,700 16,883 4,193 2 >607 4,577 5 ,082 15,076 JL/ Includes $203 sjillicn securities loaned--fully secured by U.S. government securities pledged with Federal Reserve Banks. 2/ 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 JULY 10, 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 67,553 3,308 16,724 4,220 5,385 6,010 3,642 11,097 2,733 1,265 2,567 2,558 8,044 Deposits: Member bank reserves 30,358 959 9,422 947 1,811 1,410 1,824 4,020 893 793 1,075 1,702 5,502 U. S. Treasurer—general account 2,447 105 425 157 181 216 167 280 140 74 179 178 345 Foreign 241 10 1/ 55 12 22 14 18 39 9 6 10 14 32 Other 3/ 766 3 635 10 2 18 23 28 3 3 8 15 18 Total deposits 33,812 1,077 10,537 1,126 2,016 1,658 2,032 4,367 1,045 876 1,272 1,909 5,897 Deferred availability cash items 7,185 408 1,029 320 349 841 818 951 313 395 615 460 686 Other liabilities and accrued dividends 1,222 52 343 62 84 80 65 172 42 25 42 51 204 TOTAL LIABILITIES 109,772 4,845 28,633 5,728 7,834 8,589 6,557 16,587 4,133 2,561 4,496 4,978 14,831 CAPITAL ACCOUNTS Capital paid in 879 35 228 41 78 49 67 136 28 21 37 48 111 Surplus 844 34 215 42 74 47 62 132 2 § 2S 3i 46 108 Other capital accounts 199 7 57 9 18 13 14 28 10 26 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 111,694 4,921 29,133 5,820 8,004 8,698 6,700 16,883 4,193 2,607 4,577 5,082 15,076 Contingent liability on acei eptances purchased for foreign 866 36 2/ 221 42 76 48 63 136 29 20 36 48 111 c orre s pondent s —• FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,422 17,385 4,270 5,523 6,194 3,925 11,298 2,860 1,317 2,697 2,703 8,466 Collateral for F. R. notes: Gold certificate account 100 -- 300 350 670 700 50 — -- 5 U. S. Government securities 3,350 17,450 4,100 5,400 5,610 4,000 10,700 2,885 1,350 2,800 2,730 8,700 Total collateral 3,450 17,450 4,400 5,750 6,280 4,000 11,400 2,935 1,350 2,800 2,735 8,700 1/ After deducting $ 186 million participations of other Federal Reserve Banks. 2/ After deducting $ 645 million participations of other Federal Reserve Banks. y Includes $48 million of certain deposits of domestic nonmember banks and foreign-owned banking institutions held with member banks and redejosited in full with Federal Reserve Banks in connection with voluntary participation by nonmember institutions in the Federal Reserve System1s program in credit restraint. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis