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 November 21, 1974 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Nov. 20, Nov . 13, Nov. 21, Nov. 20, and related items 1974 * 1974 1973 1974 * Reserve Bank credit: (In mill ions of dollars) Jk/2/ U.S. Government securities-- Bought outright—System account 79,185 + 775 +2,573 77,983 Held under repurchase agreements 367 + 367 - 785 856 Federal Agency obligations-- Bought outright 4,295 + 284 +2,542 4,342 Held under repurchase agreements 112 + 112 - 63 291 Acceptances-- Bought outright 256 + 39 + 215 297 Held under repurchase agreements 100 + 98 + 65 274 Loans-- Total member bank borrowing 1,367 + 269 - 201 2,535 Includes seasonal borrowing of: 63 - 7 22 63 Other borrowing Float 3,065 + 534 + 184 3,668 Other F.R. assets 2.957 - 527 +2,131 2,840 Total Reserve Bank credit 91,703 +1 ,948 +6,659 93,086 Gold Stock 11,567 -- -- 11,567 Special Drawing Rights certif. acct. 400 — -. 400 Treasury currency outstanding .9,118 + 19 + 468 9,118 112,788 +1 ,967 +7,127 114,171 Currency in circulation 77,215 + 190 +7,034 77,368 Treasury cash holdings 300 — - 33 313 Treasury deposits with F.R. Banks 649 + 490 -1,297 1,349 Foreign deposits with F.R. Banks 512 + 210 - 45 1 499 Other deposits with F.R. Banks 3/ 785 + 82 + 63 1 664 Other F.R. liabilities and capital 3,056 + 18 + 143 3,072 82,517 + 990 +5,866 83,265 Member bank reserves: With Federal Reserve Banks 30,271 + 978 +1,262 30,906 Currency and coin 6,573 - 666 + 571 6.573 Total reserves held 36,844 + 312 +1,749 37,479 Required reserves 36,781 + 448 +2,055 36,781 Excess reserves 63 . 136 - 306 698 NOTE: A net of $114 million of surplus reserves were eligible to be carried forward from the week ended November 13, into the week ending November 20. On November 20, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $33,033 million, an increase of $791 million for the week. 1/ Excludes $1,804 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $137 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. ,3/ Includes $54 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 System1s program of credit restraint. * Estimated (Cleveland and San Francisco Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CQNSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Nov. 20, .Nov. 13, Nov. 21, 1974 ** 1974 1973 A S S E TS Gold certificate account 11,460 —— -- Special Drawing Rights certif. accts. 400 -- -- Cash )39) 242 + 3 67 Loans 2,535 + 1,910 + 1,150 Acceptances—Bought outright 297 + 83 + 256 Held under repurchase agreements 274 + 272 + 197 Federal Agency obligations—Bought outright 4,342 + 331 + 2,553 Held under repurchase agreements 291 + 291 32 U.S. Government securities: Bought outright—Bills 35,167 819 184 Certificates - Other Notes 39,587 - 132 + 1,435 Bonds 3,229 + 132 + 80 Total bought outright 1/2/ 77,983 + 819 + 1,331 Held under repurchase agreements . 856 + 856 - 1,242 Total U.S. Government securities 78,839 + 1,675 + 89 Total loans and securities 86,578 + 4,562 + 4,213 Cash items in process of collection (1,873) 9,144 - 139 - 472 Bank premises 256 + 1 + 37 Other assets 3/ 2,584 - 540 + 1,944 TOTAL ASSETS (2,912) 110,664 +_3 ,887 +_5 ,655 L I A B I LI T I ES Federal Reserve notes (1,039) 68,698 104 + 6,297 Deposits: Member bank-reserves account 30,906 + 3,884 + 78 U. S. Treasurer—general account 1,349 + 1,093 - 55 Foreign 499 + 227 - 260 Other 4/ 664 - 99 -f 2 Total deposits 33,418 + 5,105 - 235 Deferred availability cash items (1,873) 5,476 - 1,189 - 491 Other liabilities and accrued dividends 1,198 + 61 + 164 TOTAL LIABILITIES (2,912) 168,790 +"3 ,873 +~T ^35~ C A P I T AL A C C O U N TS Capital paid in 891 —— + 55 Surplus 844 — + 51 Other capital accounts 139 14 - 186 Contingent liability on acceptances purchased for foreign correspondents 1,946 104 + 1,342 * Figures in parentheses are the eliminations made in the consolidating process,, 1/ Excludes $1,804 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $137 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3./ Includes assets denominated in foreign currencies. 4/ Includes $54 million of certain deposits of domestic nonmeraber 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 System1 s program of credit restraint,, ** Estimated (Cleveland and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 20. 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 2,532 296 3,865 - 1,722 361 + 312 16 days to 90 days 3 240 20,723 + 2,131 124 - 18 91 days to 1 year 35 19,604 227 622 + 63 Over 1 year to 5 years 23,047 + 1,758 2,136 + 199 Over 5 years to 10 years 9,481 - 465 891 + 55 Over 10 years -- 2,119 + 200 499 + 11 Total 2,535 571 78,839 + 1,675 4,633 + 622 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 NOVEMBER 20, 1974 New Phila Cleve Rich St. Minne Kansas San , v Total Boston York delphia land * mond Atlanta Chicago Louis apolis City Dallas Francisco 0 n millions of dollars) A S S E TS Gold certificate account 11,460 710 1,045 901 1,591 1,396 573 1,454 590 297 428 678 1,797 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,039 61 205 36 50 99 157 75 28 23 38 79 188 Other cash 242 15 22 10 28 16 35 23 22 10 20 14 27 Loans 2,535 109 1,522 59 1 140 137 283 20 9 30 58 167 Acceptances: Bought outright 297 — 297 — -- — — — -.- -- -- Held under repurchase agreements 274 -- 274 -- — -- -- -- — -- -_ _- _- Federal Agency obligations-- Bought outright 4,342 190 1,081 237 353 330 227 699 161 91 167 194 612 Held under repurchase agreements 291 — 291 — — — — -- — -- -- --. U.S. Government securities: Bought outright-- Bills 35,167 1,538 8,753 1,918 2,858 2,672 1,841 5,662 1,308 734 1,354 1 ,568 4,961 Certificates: Other — — — — _- -- — -- — -- -- «-. -- Motes 39,587 1,731 9,852 2,159 3,217 3,007 2,073 6,374 1,473 827 1,524 1 ,765 5,585 Bonds 3,229 141 804 176 262 245 169 520 120 68 124 144 456 Total bought outright 1/2/ 77,983 3,410 19,409 4,253 6,337 5,924 4,083 12,556 2,901 1,629 3,002 ~T, 477 11,002 Held under repurchase agreements 856 -- 856 -- .- -- .- -. „_ -- -- -_ Total U.S. Government securities 78,839 3,410 20,265 4,253 6,337 5,924 4,083 12,556 2,901 """"1,629 ____- 11,002 Total loans and securities 86,578 3,709 23,730 4,549 6,691 6,394 4,447 13,538 3,082 1,729 3,199 3 ,729 11,781 Cash items in process of collection 11,017 454 1,589 413 637 1,342 1,350 1,671 483 505 111 699 1,097 Bank premises 256 61 12 28 26 14 14 16 14 34 17 12 8 Other assets 3/ 2,584 34 1,968 56 56 61 52 112 26 19 36 34 130 TOTAL ASSETS 113,576 5,067 28,664 6,016 9,112 9,358 6,650 16,959 4,260 2,624 4,530 5 ,259 15,077 1/ Excludes $1,804 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $137 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. * Estimated (Cleveland 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 NOVEMBER 20, 1974 New Phila Cleve Rich St. Minne j_ K . an . s .. a . s , , 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 69,737 3,321 17,352 4,341 5,987 6,337 3,749 11,198 2,842 1,314 2,551 2,610 8,135 Deposits: Member bank reserves 30,906 1,126 8,361 1,066 2,306 1,504 1,997 4,040 904 717 1,167 1,890 5,828 U. S. Treasurer—general account 1,349 73 154 114 89 236 85 118 77 55 81 82 185 Foreign 499 12 1/ 280 14 26 16 22 46 10 7 12 16 38 Other 3/ 664 4 541 8 1 22 24 13 12 4 5 10 20 Total deposits 33,418 1,215 9,336 1,202 ~2,422 1,778"" T,T28 " 4,21/ —I,UU3 /8T 1,265 " -i,m-—ertm— Deferred availability cash items 7,349 408 1,154 320 450 1,052 570 1,079 311 458 594 501 452 Other liabilities and accrued dividends 1,198 49 327 65 91 83 63 175 40 24 42 48 191 TOTAL LIABILITIES 111,702 4,993 28,169 5,928 8,950 9,250 6,510 16,669 4,196 2,579 4,452 5,157 14,849 CAPITAL ACCOUNTS Capital paid in 891 35 235 41 78 50 68 137 29 21 37 48 112 Surplus 844 34 215 42 74 47 62 132 29 20 35 46 108 Other capital accounts 139 5 45 5 10 11 10 21 6 4 6 8 8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 113,576 5,067 28,664 6,016 9,112 9^358 6,650 16^959^ 4,260 2,624 4,530 5,259 15,077 Contingent liability on ac<: eptances purchased for foreign correspondents 1,946 80 2/ 496 95 171 109 142 306 66 45 80 107 249 FEDERAL RESERVE AGENTS' ACCOUNTS F, R. notes outstanding 3,428 17,985 4,405 6,119 6,548 4,074 11,424 3,016 1,356 2,718 2,811 8,689 Collateral for F. R. notes: Gold certificate account 100 — 400 330 865 100 700 250 — -- 5 U« S. Government securities 3 3?0 18,Q50 4,190 $.QQQ 5.725 4.Q5Q 10,800 7,810 1,430 2,800 7 >*** a^no Total collateral t 3,450 18,050 4,500 6,330 6,590 4,150 11,500 3,060 1,430 2,800 2,860 8,800 * Estimated (Cleveland and San Francisco Districts). 1/ After deducting $219 million participations of other Federal Reserve Banks. 2/ After deducting $1,450 million participations of other Federal Reserve Banks 3/ includes $54 million of certain deposits of domestic non-member banks and foreign-owned banking institutions 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 participation Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis