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 August 1, 1974 The average of daily figures for total reserves of member banks declined $300 million in the latest statement week to a level of $37,203 million. Required reserves and excess reserves declined while member bank borrowing at Federal Reserve Banks increased. A decline in currency in circulation was the major factor providing reserves in the latest statement week. More than offsetting this addition to reserves was an increase in Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital, and a decline in float. In addition, System Open Market Operations absorbed $202 million reserves net, on a weekly average basis, through matched sale-purchase transactions although reserves were provided early in the week through repurchase agreements and outright purchases of Treasury bills. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July*31, July 24, August 1, July 31, and related items 1974 1974 1973 1974 Reserve Bank credit: (In millions of dollars) 1/ 2/ U.S. Government securities-- Bought outright—System account 79,945 -630 +4,157 78,103 Held under repurchase agreements 383 +248 57 Federal Agency obiigations-- Bought outright 3,586 + 8 +1,969 3,585 Held under repurchase agreements 198 + 57 + 154 Acceptances — Bought outright 212 44 159 218 Held under repurchase agreements 130 71 84 Loans— Total member bank borrowing 3,689 48 +1,594 3,588 Includes seasonal borrowing of: 163 8 + 22 170 Other borrowing Float 1,748 -365 - 540 2,122 Other F.R. assets 1 ,434 + 37 + 156 1 ,684 Total Reserve Bank credit 91, 325 -483 +7,676 89, 300 Gold stock 11, 567 +1,157 11, 567 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 8 ,913 + 374 8 ,916 112,205 -476 +9,207 110,183 Currency in circulation 74,055 -386 +6,004 74,123 Treasury cash holdings 283 + 13 41 283 Treasury deposits with F.R. Banks 3,214 4493 + 286 3,822 Foreign deposits with F.R. Banks 293 + 10 - 114 330 Other deposits with F.R. Banks 3/ 753 - 4 65 941 Other F.R. liabilities and capital 3,389 +118 + 486 3,401 81,987 +245 +6,556 82 ,900 Member bank reserves: With Federal Reserve Banks 30,217 -722 +2,650 27 ,283 Currency and coin 6,986 4422 + 614 6 ,986 Total reserves held 37,203 -300 +3,152 1 34,269 Required reserves 37,035 -279 +3,483 1 37,035 Excess reserves 168 - 21 - 331 - 2,766 NOTE: A net of $104 million of surplus reserves were eligible to be carried forward from the week ended July 24, into the week ending July 31. On July 31, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,090 million, an increase of $160 million for the week. \J Excludes $2,587 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $141 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes $53 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 (Chicago District). 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 July 31, July 24, August 1, 1974** 1974 1973 A S S E TS Gold certificate account 1,460 — +1,157 Special Drawing Rights certif. accts. * 400 — .. Cash (1,383) 201 + 3 - 104 Loans 3,588 -2,050 +2,211 Acceptances—Bought outright 218 + 18 + 163 Held under repurchase agreements — - 265 - 97 Federal Agency obligations—Bought outright 3,585 2 +1,971 Held under repurchase agreements — - 328 - 76 U.S. Government securities: Bought outright--Bills 35,464 -2,604 133 Certificates - Other Notes 39,781 — +2,643 Bonds 2,858 — - 806 Total bought outright 1/ 2/ 78,103 -2,604 +1,970 Held under repurchase agreements — - 607 - 723 Total U.S. Government securities 78,103 -3,211 +1,247 Total loans and securities 85,494 -5,838 +5,419 Cash items in process of collection (1,700) 8,030 + 407 -1,572 Bank premises 243 + 1 + 36 Other assets 3/ 1,441 + 264 + 297 TOTAL ASSETS (3,083) 107,269 "5,163 +5,233 k I LIL Lk LI I1L1 Federal Reserve notes (1,383) 65,584 - 276 +5,336 Deposits: Member bank-reserves account 27,283 -6,473 -2,001 U. S. Treasurer—general account 3,822 + 821 +1,541 Foreign 330 + 76 + 80 Other 4/ 941 + 209 + 163 Total deposits 32,376 -5,367 - 217 Deferred availability cash items (1,700) 5,908 + 429 - 293 Other liabilities and accrued dividends 1,155 - 50 + 211 TOTAL LIABILITIES (3,083) 105,023 -5,264 +5,037 £ £ I I 1 £L A C C O U N TS ^ Capital paid in 880 m + 56 Surplus 844 — + 51 Other capital accounts 522 + 101 + 89 Contingent liability on acceptances purchased for foreign correspondents 1,023 + 48 + 525 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $2,587 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $141 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. kj Includes $53 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 (Chicago District) . MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 31. 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 3,476 31 9,127 +2,645 3 -327 16 days to 90 days 112 187 17,770 -6,313 85 91 days to 1 year 21,273 + 457 449 Over 1 year to 5 years 19,967 — 1,719 Over 5 years to 10 years 7,954 — 865 Over 10 years 2,012 — 464 Total 3,588 218 78,103 -3,211 3,585 -330 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 JULY 31, 1974 New Phila Cleve Rich ~, , * St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 11,460 452 2,422 734 877 971 608 2,018 567 213 411 380 1,807 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,383 91 309 66 56 130 201 75 37 39 45 84 250 Other cash 201 11 20 6 26 19 29 19 15 5 21 9 21 Loans 3,588 50 1,607 88 98 289 347 406 23 67 134 186 293 Acceptances: Bought outright 218 -- 218 -- — — — — — — -- -. -- Held under repurchase agreements -- -- -- -- — « -« — -_ -- -. »- — Federal Agency obligations-- Bought outright 3,585 165 925 194 276 263 192 576 134 74 141 154 491 Held under repurchase agreements -- — .- — — — — — — — -- — «.„ U.S. Government securities: Bought outright-- Bills ! 35,464 1,632 9,149 1,919 2,731 2,603 1,895 5,703 1,322 737 1,391 1,526 4,856 Certificates: Other -- -- -- -- --, -- -- -_ -_ -- -- .. -- Notes 39,781 1,830 10,262 2,153 3,064 2,920 2,126 6,397 1,483 826 1,560 1,713 5,447 Bonds | 2,858 131 737 155 220 210 153 460 107 59 112 123 391 Total bought outright 1/ 2/ 78,103 3,593 20,148 4,227 6,015 5,733 4,174 12,560 2,912 __ ,622* 3","063 3,362 10,694 Held under repurchase agreements — -- «_ — — — — — — — «. "zr Total U.S. Government securities ! 78,103 3,593 20,148 4,227 6,015 5,733 4,174 " 12,560 ~" f,912 7FJ2~ 3,362 _ — _ _ _. Total loans and securities 85,494 3,808 22,898 4,509 6,389 6,285 4,713 13,542 3,069 1 ,763" 3,338 "" 3,702 11,478 """"" Gash items in process of collection 9,730 363 1,857 431 446 982 901 1,426 444 431 702 657 1,090 Bank premises 243 54 11 19 27 14 15 16 14 36 17 12 8 Other assets 3/ 1,441 52 555 69 84 96 71 172 42 26 ~_A3_ 48 181 TOTAL ASSETS 110,352 4,854 28,165 5,857 7,938 8,533 6,560 17,338 4,203 2 ,520 4,594 4,906 148884 1/ Excludes $2,587 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $141 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Estimated (Chicago District). 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 31, 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 66,967 3,264 16,712 4,186 5,369 6,016 3,574 10,868 2,709 1,251 2,537 2,541 7,940 Deposits: Member bank reserves 27,283 768 7,880 859 1,574 1,161 1,849 3,843 852 663 1,089 1,477 5,268 U. S. Treasurer—general account 3,822 302 713 302 330 309 257 493 212 104 192 208 400 Foreign 330 11 1/ 121 14 25 16 21 44 10 6 11 15 36 Other 3/ 941 3 822 9 1 24 20 20 2 3 5 11 21 Total deposits 32,376 1,084 9,536 1,184 1,930 1,510 2,147 4,400 1,076 776 1,297 1,711 5,725 Deferred availability cash items 7,608 364 1,038 315 359 787 616 1,549 305 416 623 489 747 Other liabilities and accrtl ed dividends 1,155 52 293 62 86 87 62 176 41 25 44 47 180 TOTAL LIABILITIES 108,106 4,764 27,579 5,747 7,744 8,400 6,399 16,993 4,131 2,468 4,501 4,788 14,592 CAPITAL ACCOUNTS Capital paid in 880 35 228 41 78 49 67 136 29 21 37 48 111 Surplus 844 34 215 42 74 47 62 132 29 20 35 46 108 Other capital accounts 522 21 143 27 42 37 32 77 14 11 21 24 73 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 110,352 4,854 28,165 5,857 7,938 8,533 6,560 17,338 4,203 2,520 4,594 4,906 14,884 Contingent liability on ace eptances purchased for foreign 1,023 42 2/ 261 50 90 57 75 160 35 24 42 56 131 correspondents FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 70,346 3,416 17,558 4,269 5,532 6,244 3,919 11,328 2,893 1,310 2,682 2,702 8,493 Collateral for F. R. notes: Gold certificate account 2,225 100 300 350 720 700 50 5 U. S. Government securities 69,000 3,350 17,850 4,100 5,400 5,610 4,000 10,800 2,885 1,350 2,800 2,755 8,700 Total collateral 71,825 3,450 17,850 4,400 5,750 6,330 4,000 11,500 2,935 1,350 2,800 2,760 8,700 1/ After r^.ducting $ 209 million participations of other Federal Reserve Banks. * Estimated (Chicago District). 2j After deducting $ 762 million participations of other Federal Reserve Banks. 3/ Includes $53 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 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis