H.4.1 Factors Affecting Reserve Balances of Depository Institutions

••o^vipv;-. FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release August 8, 1974 The average of daily figures for total reserves of member banks declined $318 million in the latest statement week to a level of $36,909 million. Required reserves and member bank borrowing at Federal Reserve? Banks declined while excess reserves increased slightly. An increase in float and decreases in Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital were the major factors providing reserves in the latest state ment week. Partially offsetting this addition to reserves was an increase in currency in circulation. In addition, System Open Market Operations absorbed $588 million of reserves net, on a weekly average basis, primarily through maturing repurchase agreements made in the previous week. Averages of daily figures Member Dank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, August 7, July'31, August 8, August 7, and related items 1974 1974 1973 1974 Reserve Bank credit: (In millions of dollars) T7T7 U.S. Government securities-- Bought outright—System account 80,066 +121 44,764 78,539 Held under repurchase agreements -383 Federal Agency obligations— Bought outright 3,582 +1,968 3,582 Held under repurchase agreements Acceptances — Bought outright 218 + 165 215 Held under repurchase agreements Loans — Total member bank borrowing 3,083 +1,078 2,889 Includes seasonal borrowing of: 176 + 18 165 Other borrowing Float 2 ,089 - 613 2,455 Other F.R. assets 1 ,461 + 162 1,560 Total Reserve Bank credit 90, 499 +7,524 89,240 Gold stock 11, 567 +1,157 11,567 Special Drawing Rights certif. acct. 400 _- 400 Treasury currency outstanding 8 ,931 + 18 + 388 8,949 111,397 -892 +9,069 110,156 Currency in circulation 74,374 +293 +6,063 74,877 Treasury cash holdings 284 + 1 - 50 289 Treasury deposits with F.R. Banks 2,730 -484 43 1,891 Foreign deposits with F.R. Banks 274 - 19 1 261 Other deposits with F.R. Banks 3/ 799 + 14 17 675 Other F.R. liabilities and capital 3,053 -337 + 96 3,030 81,514 -532 +6,048 81,023 Member bank reserves : With Federal Reserve Banks 29,883 -358 +3,023 29,133 Currency and coin 7,026 + 40 + 542 7,026 Total reserves held 36,909 -318 +3,453 36,159 Required reserves 36,688 -347 +3,307 36,688 Excess reserves 221 + 29 + 146 - 529 NOTE A net of $122 million of surplus reserves were eligible to be carried forward from the week ended July 31, into the week ending August 7. On August 7, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Binks for foreign and international accounts were $30,718 million, an increase of $628 million for the week. 1/ Excludes $2,221 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $138 million securities loaned--fully secured by U.S. Government securi ties pledged with Federal Reserve Banks. 3/ Includes $56 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 System1s 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 August 7, July 31, August 8, 12JA 1.9.74 1973 A S S E TS Gold certificate account 1,460 -- + 1,157 Special Drawing Rights certif. accts. 400 — — Cash (1,211) 246 + 45 62 Loans 2,889 - 699 + 1,460 Acceptances—Bought outright 215 - 3 + 167 Held under repurchase agreements Federal Agency obligations—Bought outright 3,582 3 + 1,968 Held under repurchase agreements U.S. Government securities: Bought outright—Bills 35,900 + 436 + 4,029 Certificates - Other Notes 39,781 -- + 2,643 Bonds 2,858 — 806 Total bought outright 1/ 2/ 78,539 + 436 + 5,866 Held under repurchase agreements -_ — -- Total U.S. Government securities 78,539 + 436 + 5,866 Total loans and securities 85,225 - 269 + 9,461 Cash items in process of collection (1,669) 8,011 + 137 730 Bank premises 243 -- + 35 Other assets j/ 1,317 - 124 + 162 TOTAL ASSETS (2,880) 106,902 - 211 +10,023 tlAIILHII s Federal Reserve notes (1,211) 66,356 + 585 + 5,675 Deposits: Member bank-reserves account 29,133 +1 ,850 + 4,535 U. S. Treasurer—general account 1,891 -1, 931 - 411 Foreign 261 - 69 24 Other j4 675 - 494 152 Total deposits 31,960 - 644 + 3,948 Deferred availability cash items (1,669) 5,556 + 221 + 14 Other liabilities and accrued dividends 1,163 + 8 + 265 TOTAL LIABILITIES (2,880) 105,035 + 170 + 9,902 C A P I T AL ^ C O U N TS Capital paid in 880 „ + 55 Surplus 844 — + 51 Other capital accounts 143 - 381 + 15 Contingent liability on acceptances purchased for foreign correspondents 1,064 41 562 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Exclude s $2,221 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 1/ Include s $138 million securities loaned—fully secured by U.S. Government secur ities pledged with Federal Reserve Banks. 3/ Include s assets denominated in foreign currencies. 4/ Include s $56 million of certain deposits of domestic nonmember banks and foreignowned banking institutions held with member banks and redeposited in full with Feder al Reserve Banks in connection with voluntary participation by nonmember insti tutions in the Federal Reserve System*s program of credit restraint. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 7, 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 2,733 29 8,540 -587 -- - 3 16 days to 90 days 156 142 18,678 +908 93 + 8 91 days to 1 year — 44 21,388 +115 441 - 8 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 2,889 215 78,539 +436 3,582 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 7, 1974 H.4.Ub) New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Danas Francisco (In millions of dollars) A S S E TS Gold certificate account 11,460 | 740 3,338 594 898 1,121 289 1,522 464 220 241 306 1,727 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,211 85 284 55 49 115 176 68 29 36 39 71 204 Other cash 246 12 19 6 25 18 77 18 15 4 21 10 21 Loans 2,889 67 1,533 48 65 163 313 294 32 54 101 106 113 Acceptances: Bought outright 215 -- 215 -- ..- -.- -- -_ — -- -- -- -- Held under repurchase agreements -- ; -- -- -- -- — — — -- -_ _- — — Federal Agency obligations-- Bought outright 3,582 j 165 924 194 276 263 191 576 134 74 141 154 490 Held under repurchase agreements -- -- -_ -- -. — -- — — -- --. .. -. U.S. Government securities: Bought outright-- Bills 35,900 1,652 9,261 1,942 2,765 2,635 1,919 5,773 1,338 746 1,409 1 ,545 4,915 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 TcraL bought- outright 1/2' 78,539 3,613 20,260 4,250 6,049 5,765 4,198 12,630 2,928 1,631 3,081 3 ,381 10,753 Held :n^r **t"»puT chase -=vi r e^p^t ? -- -- -, -- -- — -« ... _- «« -- -.- .• . v c. i i .::. -r^nr,-]'; ^?> »ij .'ics 78,539 3,613 20,260 4,250 6,049 5,765 4,198 12,630 2,928 1,631 3,081 3 ,381 10,753 '\u. a 1 i "-in *. and se cu r i L1 ^ r- 1 85,225 3,845 22,932 4,492 6 5 390 6,191 4,702 13,500 3,094 1,759 3,323 3 ,641 11,356 'a^l '•*----* "• pr-'cc^- ,"-f » ''ot.r on ] 9,680 374 1,570 382 410 1,060 1,071 1,266 542 415 783 713 1,094 \ >,M .r «- ^ - 1 243 54 i 1 20 27 14 15 16 14 35 17 12 8 >m^r .. --<rt- 2'' 1 1,317 55 311 78 92 92 77 182 42 -_~_33_ 48 52 255 TOTAL ASSETS ll09 s 782 5.J3& 28,53d -»,650 7,924 8,647 6,429 16,642 4,215 2,509 4,487 4 i_819 14.714.. 1/ Excludes $2,221 ni^ll^n ,-': securities sold and schedu. rd to b bought back, under matched sale-purchase transactions* s 2/ Includes $138 mil lien seniorities loaned--fully secure I rw TT S, 0k>vernment securities pledged with Federal Reserve Banks, 3/ Includes assets denoirin^^.ed 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 AUGUST 7, 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 67,567 3,271 16,779 4,191 5,406 6,039 3,673 11,120 2,734 1,257 2,550 2,557 7,990 Deposits: Member bank reserves 29,133 1,274 9,223 811 1,754 1,318 1,762 3,854 830 692 1,000 1,502 5,113 U. S. Treasurer—general account 1,891 103 159 156 141 228 127 226 116 84 82 98 371 Foreign 261 12 1/ 51 14 25 16 21 44 9 6 12 15 36 Other 3/ 675 5 521 14 6 27 24 18 12 4 7 19 18 Total deposits 31,960 1,394 9,954 995 1,926 1,589 1,934 4,142 967 786 1,101 1,634 5,538 Deferred availability cash items 7,225 399 1,048 316 343 832 620 916 410 397 715 481 748 Other liabilities and accrtl ed 1,163 51 291 60 86 80 63 175 41 25 43 47 201 dividends TOTAL LIABILITIES 107,915 5,115 28,072 5,562 7,761 8,540 6,290 16,353 4,152 2,465 4,409 4,719 14,477 CAPITAL ACCOUNTS Capital paid in 880 34 228 41 78 50 67 136 29 21 37 48 111 Surplus 844 34 215 42 74 47 62 132 29 20 35 46 108 Other capital accounts 143 5 43 5 11 10 10 21 5 3 6 6 18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 109,782 5,188 28,558 5,650 7,924 8,647 6,429 16,642 4,215 2,509 4,487 4,819 14,714 Contingent liability on ace. eptances purchased for forei- gn 1,064 44 2/ 271 52 94 60 78 167 36 24 44 58 136 correspondents FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,402 17,589 4,268 5,538 6,250 3,956 11,328 2,880 1,308 2,700 2,702 6,523 Collateral for F. R. notes: Gold certificate account 100 300 350 720 700 50 5 U. S. Government securities 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 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 deducting $ 210 million participations of other Federal Reserve Banks. 2/ After deducting $ 793 million participations of other Federal Reserve Banks. 3/ Includes $55 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