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 December 19, 1974 Averages of daily figures Member bank reserves, Week ended Change frori week ended Wednesday Reserve Bank credit, Dec. 18, Dec. 11, Dec. 19, Dec. 18, and related items 1974 1974 1973 1974 Reserve Bank credit: (In millions of dollars) 1/ U.S. Government securities-- Bought outright--System account: 80,661 + 78 +3,707 80,977 Held under repurchase agreements 484 +118 - 183 1,671 Federal Agency obligations-- Bought outright 4,496 +154 +2,698 4,702 Held under repurchase agreements 201 + 47 + 49 617 Acceptances-- Bought outright 484 + 10 + 430 492 Held under repurchase agreements 99 + 25 + 25 225 Loans-- Total member bank borrowing 821 +174 - 667 1,385 Includes seasonal borrowing of: 30 - 4 10 29 Other borrowing Float 2,499 - 62 - 854 3,045 Other F.R. assets 3,047 - 6 +2,010 3,248 Total Reserve Bank credit 92,792 +539 +7,215 96,362 Gold Stock 11,652 + 49 + 85 11,652 Special Drawing Rights certif. acct. 400 .. -- 400 Treasury currency outstanding 9,178 + 15 + 510 9,184 114,022 +603 +7,810 117,598 Currency in circulation * 78,895 +422 +7,213 79,272 Treasury cash holdings* 212 - 77 95 212 Treasury deposits with F.R. Banks 926 -377 - 728 2,209 Foreign deposits with F.R, Banks 407 + 87 + 1.0 266 Other deposits with F.R. Banks 2/ 821 - 72 + 147 816 Other F.R. liabilities and capital 3,213 +123 + 290 3,332 84,474 +105 +6,837 86,107 Member bank reserves: With Federal Reserve Banks 29,548 +498 + 974 31,491 Currency and coin 7,151 - 91 + 606 7,151 Total reserves held 36,699 +407 +1,496 38,642 Required reserves 36,601 +141 +1,709 36,601 Excess reserves 98 +266 - 213 2,041 NOTE: A net of $50 million of deficit reserves were eligible to be carried forward from the week ended December 11, into the week ending December 18. On December 18, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $32,614 million, a decrease of $251 million for the week. 1/ Includes $103 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks* 27 Includes $25 million of certain deposits of foreign-owned banking institutions held 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. * Estimated Treasury's figures. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF AL,LL FFEEDDEERRAALL RESERVE BAN!C S (In millions of dollars) irs) Change since Wednesday Dec. 18, Dec. 11, Dec. 19, 1974 1974 1973 A S S E TS Gold certificate account 11,652 «... + 192 Special Drawing Rights certif. accts. 400 .- — Cash (1,112) 247 + 5 42 Loans 1,385 + 225 183 Acceptances—Bought outright 492 - 1 + 439 Held under repurchase agreements 225 - 16 + 38 Federal Agency obligations—Bought outright 4,702 + 360 + 2,904 Held under repurchase agreements 617 + 110 + 198 U.S. Government securities: Bought outright—Bills 37,949 + 441 + 1,932 Certificates - Other Notes 39,774 + 1,515 Bonds 3.254 + 105 Total bought outright 1/ 80,977 441 + 3,552 Held under repurchase agreements 1.671 + 869 - 652 Total U.S. Government securities 82.648 + 1,310 + 2.900 Total loans and securities 90,069 + 1,988 6,296 Cash items in process of collection (1,801) 9,058 + 1,161 - 1,807 Bank premises 259 + 37 Other assets 2/ 2 989 201 + 2,148 t TOTAL ASSETS (2,913) 114.674 + 3.355 4- 6.824 L. I£lIIiIlIES! Federal Reserve notes "~ (1,112) 70,547 + 259 + 6,606 Deposits: Member bank-reserves account 31,491 + 526 - 211 U. S. Treasurer—general account 2,209 + 1,519 + 117 Foreign 266 - 92 17 Other 3/ 816 - 108 + 146 Total deposits 34,782 + 1,845 + 35 Deferred availability cash items (1,801) 6,013 + 1,068 - 163 Other liabilities and accrued dividends 1.262 + 91 + 214 TOTAL. LIABILITIES (2,913) 112,604 + 3,263 + 6,692 £ A £ I 1 A It ACCOUNTS Capital paid in "" "" 895 T 1 + 57 Surplus 844 — + 51 Other capital accounts 331 + 91 + 24 Contingent liability on acceptances purchased for foreign correspondents 1,240 168 624 * Figures in parentheses are the eliminations made in the consolidating proems 1/ Includes $103 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 3/ Includes $25 million of certain deposits of 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. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. DECEMBER 18. 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 1,379 273 7,108 524 642 135 16 days to 90 days 6 381 20,592 159 265 5 91 days to 1 year 63 20,107 945 580 42 Over 1 year to 5 years 23,138 2,340 172 Over 5 years to 10 years 9,559 991 75 Over 10 years — 2.144 501 41 Total 1,385 717 82,648 + 1,310 5,319 + 470 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1tf>) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 18, 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 i Gold certificate account 11,652 785 3,017 631 1,298 887 372 1,776 517 243 402 581 1,143 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 i 15 14 49 F.R. notes of other banks 1,112 50 233 54 54 87 159 82 33 11 43 82 213 Other cash 247 15 18 10 31 17 36 23 21 9 19 12 36 Loans 1,385 25 150 86 1 77 142 461 7 21 41 46 328 Acceptances: Bought outright 492 — 492 — — — — — — -- — — Held under repurchase agreements 225 — 225 — — — — — — — — — — Federal Agency obligations-- Bought outright 4,702 212 1,069 261 390 374 268 757 179 103 182 208 699 Held under repurchase agreements 617 -- 617 _- -- — -- -- -. -- -- — -- U.S. Government securities: Bought outright-- Bills 37,949 1 ,713 8,628 2,105 3,147 3,014 2,165 6,112 1,447 833 1,468 1 ,678 5,639 Certificates: Other *"" -- -- -- -. «.- -- -- -_ -- — — -- Notes 39,774 1 ,795 9,043 2,206 3,299 3,159 2,269 6,407 1,517 872 1,539 1 ,758 5,910 Bonds 1 3.254 147 740 180 270 258 186 524 124 71 126 144 484 Total bought outright !_/ | 80,977 ~T, 655 18,411 4,491 6,716 6,431 4,620 13,043 3,088 1,776 3,133 3~, 580 12,033 Held under repurchase agreements 1,671 — 1,671 — — ._ — — — .- — -_ — Total U.S. Government securities 82.648 ~T. 655 20.082 4,491 6,716 6,431 4.620 13,043 3,083 1,776 3,133 J, 580 12,033 . Total loans and securities 90,069 3 ,892 22,635 4,838 7,107 6,882 5,030 14,261 3,274 1,900 3,356 3 ,834 13,060 Cash items in process of collection 10,859 494 1,753 361 572 1,251 962 1,660 537 495 810 749 1,215 Bank premises 259 63 12 29 26 14 14 16 14 34 17 12 8 Other assets 2/ 2,989 44 2.016 67 75 81 222 154 33 25 43 _ 41 188 — 117,587 ,366 29,777 6,013 9,196 9,255 6,817 18,042 4,444 2,735 4,705 ,325 15,912 TOTAL ASSETS U Includes $103 million 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 DECEMBER 18, 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 71,659 3,409 17,764 4,444 6,214 6,474 3,959 11,393 2,945 1,388 2,620 2,676 8,373 Federal Reserve notes Deposits: Member bank reserves 31,491 1,305 8,773 945 2,082 1,375 1,873 4,644 898 711 1,145 1,734 6,006 U. S. Treasurer—general account 2,209 106 380 135 178 127 81 369 122 107 92 152 360 Foreign 266 13 1/ 39 15 27 17 22 48 10 7 13 16 39 Other 3/ 816 1 640 2 1 14 23 81 13 3 4 13 21 Total deposits 34,782 1,425 9,832 1,097 2,288 1,533 1,999 ~5,142 1,043 828 1,254 1,915 6,426 Deferred availability cash items 7,814 400 1,298 306 422 1,039 637 1,008 344 444 703 576 637 Other liabilities and accrtl ed dividends 1,262 52 336 68 94 87 72 181 43 • 26 43 49 211 TOTAL LIABILITIES 115,517 5,286 29,230 5,915 9,018 9,133 6,667 17,724 4,375 2,686 4,620 5,216 15,647 CAPITAL ACCOUNTS Capital paid in 895 35 235 42 78 50 68 138 29 22 37 49 112 Surplus 844 34 215 42 74 47 62 132 29 20 35 46 108 Other capital accounts 331 11 97 14 26 25 20 48 11 7 13 14 45 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 117,587 5,366 29,777 6,013 9,196 9,255 6,817 18,042 4,444 2,735 4,705 5,325 15,912 Contingent liability on acei eptances purchased for forej- gn _ correspondents 1,240 51 2/ 316 61 109 69 90 195 42 29 51 68 159 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,515 18,357 4,538 6,389 6,674 4,237 11,654 3,114 1,430 2,773 2,859 8,980 Collateral for F. R. notes: Gold certificate account 150 400 450 330 520 200 700 300 -- -- 5 U. S. Government securities 3,400 18,200 4,200 6,200 6,215 4,150 11,200 2,860 1,530 2,900 2,890 9,300 Total collateral 3,550 18,600 4,650 6,530 6,735 4,350 11,900 3,160 1,530 2,900 2,895 9,300 \J After deducting $227 million participations of other Federal Reserve Banks, 2/ After deducting $ 924 million participations of other Federal Reserve Banks. 3/lncludes $25 million of certain deposits of foreign-owned banking institutions held 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. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis