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 15, 1974 The average of daily figures for total reserves of member banks showed no change in the latest statement week. Required reserves increased while excess reserves and member bank borrowing at Federal Reserve Banks declined slightly. The major factor providing reserves in the latest statement week was a decline in Treasury deposits with Federal Reserve Banks. This addition to reserves was largely offset by an increase in currency in circulation and a decrease in float. In addition, System Open Market Operations absorbed $162 million of reserves net, on a weekly average basis, primarily through matched sale-purchase transactions. Averages of daily figures Week ended Change from week ended Wednesday, Member bank reserves, August"14, August 7, August 15, August"14, Reserve Bank credit, 1974 1974 1973 1974 . and related items (In millions of dollars) Reserve Bank credit: U.S. Government securities-- Bought outright--System account 79,904 -162 +5,579 80,221 Held under repurchase agreements Special Certificates 50 Federal Agency obligations-- Bought outright 3,582 4-1,968 3,582 Held under repurchase agreements Acceptances-- Bought outright 218 + 169 215 Held under repurchase agreements Loans-- Total member bank borrowing 3,040 - 43 +1,124 2,915 Includes seasonal borrowing of: 160 - 16 + 12 154 Other borrowing Float 2,003 - 98 - 883 2,189 Other F.R. assets 1,524 + 63 + 242 1,540 Total Reserve Bank credit 90,270 -241 +8,148 90,662 Gold Stock 11,567 -- +1,157 11,567 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 8,953 + 22 + 407 8,954 111,190 -219 +9,712 111,583 Currency in circulation 74,916 +542 +6,297 75,140 Treasury cash holdings 274 - 10 73 290 Treasury deposits with F.R. Banks 1,875 -855 + 462 J 1,969 Foreign deposits with F.R. Banks 269 - 5 45 | 248 Other deposits with F.R. Banks ^/ 875 + 76 3 929 Other F.R. liabilities and capital 3,107 + 54 + 403 3,141 81,315 -199 +7,040 81,717 Member bank reserves: With Federal Reserve Banks 29,874 - 21 +2,672 29,865 Currency and coin 7^047 + 21 + 532 7,047 Total reserves held 36,921 -- +3,092 1 36,912 Required reserves 36,797 +109 +3,282 36,797 Excess reserves 124 -109 - 190 115 NOTE: A net of 3118 million of surplus reserves were eligible to be carried forward from the week ended August 7, into the week ending August 14. On August 14, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,766 million, an increase of $48 million for the week. U Excludes $401 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. y Includes $95 million securities loaned—fully secured by U.S. Government securi ties pledged with Federal Reserve Banks. 3/ Includes $58 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 Systemrs program of credit restraint. Estimated (Dallas and San Francisco 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 Aug. 14,** Aug. 7, Aug. 15, 1974 1974 1973 A S/S. ETS Gold certificate account 11,460 + 1,157 Special Drawing Rights certif. accts. * 400 -- -- Cash (1,128) 203 - 43 104 Loans 2,915 + 26 + 383 Acceptances--Bought outright 215 -- + 169 Held under repurchase agreements Federal Agency obligations—Bought outright 3,582 + 1,968 Held under repurchase agreements U.S. Government securities: Bought outright—Bills 37,582 +1, 682 + 6,283 Certificates - Special — — - 351 Other Notes 39,781 -- + 2,407 Bonds 2,858 — 570 Total bought outright 1/ 2/ 80,221 +1, 682 +"7 ,769 Held under repurchase agreements -- -- __ Total U.S. Government securities 80,221 +1, 682 + 7,769 Total loans and securities 86,933 +1, 708 +10,289 •Cash items in process of collection (1,841) 8,083 + 72 - 3,662 Bank premises 245 + 2 + 36 Other assets 3/ 1,295 - 22 + 734 TOTAL ASSETS (2,969) 108,619 ±1_J 17_ ±_8 ,450 LIABILITIES. Federal Reserve notes (1,128) 66,573 + 217 + 5,795 Deposits: Member bank-reserves account 29,865 + 732 + 2,161 U. S. Treasurer—general account 1,969 + 78 + 1,969 Foreign 248 - 13 - 161 Other 4/ 929 + 254 + 121 Total deposits 33,011 +1, 051 + 4,090 Deferred availability cash items (1,841) 5,894 + 338 - 1,829 Other liabilities and accrued dividends 1,160 Z_ 3 +_ 251 TOTAL LIABILITIES (2,969) 106,638 +1,603 + 8,307 C A P I T AL A C C O U N TS Capital paid in 881 + 1 + 55 Surplus 844 — + 51 Other capital accounts 256 + 113 + 37 Contingent liability on acceptances purchased for foreign correspondents 1,131 + 67 + 627 * Figures in parentheses are the eliminations made in the consolidating process. \j Excludes $401 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $95 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. '±1 Includes $58 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. ** Estimated (Dallas and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 14, 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 2,838 26 10,686 +2,146 12 +12 16 days to 90 days 77 155 18,174 - 504 81 -12 91 days to 1 year 34 21,428 + 40 441 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 2,915 215 80,221 +1,682 3,582 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H,4.Hb) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 14, 1974 Total Boston N Yo e r w k P d h e i l l p a h ia C l l a e n v d e m R o i n ch d Atlanta Chicago L St o . u is M a i p n o n l e i s K C a i n t s y a s Dallas* F Sa ra n n * ci sco (In millions of dollars) A S S E TS Gold certificate account 11,460 357 2,921 693 1,037 954 476 1,935 352 181 194 487 1,873 Special Drawing Rights certif. acct. 4 00 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,128 77 233 43 44 106 191 67 32 39 71 197 Other cash 203 11 21 7 27 18 29 20 15 4 20 11 20 Loans 2,915 52 1,625 50 70 170 232 260 35 51 115 152 103 Acceptances: Bought outright 215 -._ 215 Held under repurchase agreements Federal Agency obligations-- Bought outright 3,582 165 924 194 276 263 191 576 134 74 141 154 490 Held under repurchase agreements U.S. Government securities: Bought outright-- Bills 37,582 1,729 9,695 2,033 2,895 2,758 2,008 6,043 1,401 781 1,475 1,618 5,146 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./ 80,221 3,690 20,694 4,341 6", 179 ~5~888 4,287 12,900" 2,991 1,666 3,147 3,454 10,984 r->] n under repurchase agreements \> o 1 ! , S . Co vcrnnH'.nJ °.ec u r i t 1 ^ 80,221 3,690 20,694 A14L 6,179 AA 4,287 12,900 2,991 1,666 3,147 3,454 10,984 ;Vt-i' loan-; and ^ecurLile.^ 86,933 3,907 23,458 4,585 6,525 6,321 4,710 13,736 3,160 1,791 3,403 3,760 11,577 of -»1 1 p r r1 - 9,924 /.HA 391 487 169 O C C ATI Bank premises '245 55 11 21 27 14 15 )JUJ <-* / X 35 17 12 Other assets 3/ 1,295 57 327 75 101 92 70 16 14 33 48 53 203 192 44 TOTAL ASSETS 111,588 4,893 28,568 5,838 8,281 8,710 6,596 17,401 4,099 2,604 4,517 4,915 15,166 1/ Excludes $401 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $95 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks, 37 Includes assets denominated in foreign currencies. * Estimated (Dallas and San Francisco 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 AUGUST 14, 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 67,701 3,277 16,785 4,200 5,441 6,060 3,632 11,182 2,740 1,260 2,552 2,564 8,008 Deposits: Member bank reserves 29,865 950 8,758 890 1,980 1,254 1,865 4,442 794 716 1,030 1,540 5,646 U. S. Treasurer—general account 1,969 109 407 231 145 202 134 169 97 53 74 140 208 Foreign 248 10 1/ 70 12 21 13 17 38 8 5 10 13 31 Other 3/ 929 6 605 28 15 78 32 72 20 11 29 17 16 Total deposits 33,011 1,075 9,840 1,161 2,161 1,547 2,048 4,721 919 785 1,143 1,710 5,901 Deferred availability cash items 7,735 411 1,135 323 423 108 908 1,014 332 488 698 490 805 led Other liabilities and accn 1,160 51 292 60 84 80 63 177 41 24 43 46 199 dividends TOTAL LIABILITIES 109,607 4,814 28,052 5,744 8,109 8,595 6,451 17,094 4,032 2,557 4,436 4,810 14,913 CAPITAL ACCOUNTS Capital paid in 881 35 228 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 256 10 7 3 11 20 18 16 39 9 6 9 11 34 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 111,588 4,893 28,i68 5,838 8,281 8,710 6,596 17,401 4,099 2,604 4,517 4,915 15,166 Contingent liability on ac<: eptances purchased for fore:L gn 1,131 46 2/ .8 55 100 63 83 178 39 26 46 62 . 145 correspondents FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,397 17,600 4,265 5,590 6,272 3,950 11,380 2,903 1,321 2,699 2,705 8,532 Collateral for F. R. notes: Gold certificate account 100 — 300 350 720 700 100 -- — 5 3,350 17,850 4,100 5,400 5,610 4,000 10,800 2,885 1,350 2,800 2,755 8,700 U. S. Government securities Total collateral 3,450 17,850 4,400 5,750 6,330 4,000 11,500 2,985 1,350 2,800 2,760 8,700 1/ After deducting $ 178 million participations of other Federal Reserve Banks. * Estimated (Dallas and San Francisco Districts). 2/ After deducting $ 843 million participations of other Federal Reserve Banks. y Includes $58 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