H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and ••?f^rp?--" Condition Statement of F.R. Banks H.4.1 For immediate release December 26, 1974 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Dec. 25, t)ec. 18, Bet. 2b, Dec. 25, and related items 1974 1974 1973 1974 * Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright--System account 81,059 + 398 +3,615 81,283 Held under repurchase agreements 1,739 +1,255 +1,042 2,239 Federal Agency obligations-- Bought outright 4,702 + 206 +2,904 4,702 Held under repurchase agreements 742 + 541 + 594 1,034 Acceptances- Bought outright 517 + 33 + 457 540 Held under repurchase agreements 278 + 179 + 117 323 Loans-- Total member bank borrowing 662 159 - 377 427 Includes seasonal borrowing of: 29 1 6 29 Other borrowing Float 2,278 283 -2,406 2,609 Other F.R. assets 3,141 94 +1,912 3,154 Total Reserve Bank credit 95,117 +2,263 +7,857 96,311 Gold Stock 11,652 + 85 11,652 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 9,194 16 + 522 9,208 116,363 +2,279 +8,465 117,571 Currency in circulation ** 79,336 + 441 +7,103 79,813 Treasury cash holdings ** 212 - 116 212 Treasury deposits with F.R. Banks 2,471 +1,545 + 243 2,671 Foreign deposits with F.R. Banks 345 - 62 - 186 450 Other deposits with F„R. Banks 2/ 752 69 + 58 775 Other F.R. liabilities and capital 3,399 + 186 + 352 3,463 86,515 +2,041 +7,454 87,384 Member bank reserves: With Federal Reserve Banks 29,848 + 238 +1,010 30,187 Currency and coin 6,972 - 179 + 464 6,972 Total reserves held 36,820 + 59 +1,390 37,159 Required reserves 36,427 - 174 +1,469 36,427 Excess reserves 393 + 233 79 732 NOTE: A net of $25 est. million of surplus reserves were eligible to be carried forward from the week ended December 18, into the week ending December 25. On December 25, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $32,337 million, a decrease of $277 million for the week. 1/ Excludes $325 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $116 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 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 non-member institutions in the Federal Reserve System1s program of credit restraint. * Estimated (Cleveland and San Francisco Districts). ** Estimated (Treasury1s Figures). 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 Dec. 25, [Dec. 18, !Dec. 26, 1974 * 197? A S S E TS Gold certificate account 11,652 —• •f 192 Special Drawing Rights certif. accts. * 400 — — Cash (1,099) 249 + 2 - 29 Loans 427 - 958 - 58 Acceptances—Bought outright 540 + 48 + 479 Held under repurchase agreements 323 + 98 + 323 Federal Agency obligations--Bought outright 4,702 -. + 2,904 Held under repurchase agreements 1,034 + 417 + 1,034 U.S. Government securities: Bought outright—Bills 37,975 26 4,491 Certificates Other Notes 40,025 + 251 + 1,716 Bonds 3,283 + 29 + 134 Total bought outright 1/2/ 81,283 + 306 + 6,341 Held under repurchase agreements 2,239 + 568 + 2,239 Total U.S. Government securities 83,522 + 874 + 8 f 580 Total loans and securities 90,548 + 479 + 13,262 Cash items in process of collection (1,489) 9,099 + 41 - 1,750 Bank premises 261 + 2 + 39 Other assets 3/ 2,893 - 96 + 1,151 TOTAL ASSETS (2,588) 115,102 ±_ 428 ±-12,865 Federal Reserve notes (1,099) 71,066 + 519 + 6,505 Deposits: Member bank-reserves account 30,187 - 1,304 + 4,826 U. S. Treasurer—general account 2,671 + 462 - 45 Foreign 450 + 184 - 279 Other 4/ 775 - 41 + 182 Total" deposits 34,083 - 699 + 4,684 Deferred availability cash items (1,489) 6,490 + 477 + 1,234 Other liabilities and accrued dividends 1,276 + 14 + 298 TOTAL LIABILITIES (2,588) 112,915 + 311 + 12,721 £ A M T AL ACCOUNTS Capital paid in 895 ._ + 57 Surplus 844 — + 51 Other capital accounts 448 4- 117 + 36 Contingent liability on acceptances purchased for foreign correspondents 1,120 120 511 Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $325 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $116 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 47 Includes $25 million of certain deposits foreign-owned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary partic pation by nonmember institutions in the Federal Reserve System's program of credit restraint. ,v Estimated (Cleveland and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 25. 1974 (Acceptances and securities held under repurchase agreements are classified as maturing .vithin 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 424 391 5,673 - 1,435 1,058 + 416 16 days to 90 days 3 413 22,301 + 1,709 266 + 1 91 days to 1 year 59 20,511 + 404 580 — Over 1 year to 5 years — 23,261 + 123 2,340 -- Over 5 years to 10 years — 9,612 + 53 991 — Over 10 years —- 2,164 + 20 501 — Total 427* 863 83,522 + 874 5,736 + 417 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 DECEMBER 25, 1974 New Phila Cleve Rich St. Minne Kansas San * Total Boston Atlanta Chicago Dallas York delphia land * mond Louis apolis City Francisco (In millions of dollars) A S S E TS Gold certificate account 11,652 492 2,046 748 1,072 1,185 737 2 9 096 578 284 373 552 1,489 Special Drawing Rights certif. acct. ; 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks | 1,099 53 204 60 77 83 1.60 81 32 22 42 78 207 Other cash 249 15 16 10 32 17 35 24 22 10 19 12 37 Loans 427 33 25 24 3 77 124 57 3 2 30 28 21 Acceptances: Bought outright 540 « 540 -- -- -„ -- — Held under repurchase agreements 323 .„ 323 -- .« -- -- — ~- -- -- -- -- Federal Agency obligations- Bought outright ! 4,702 212 1,069 261 390 374 268 757 179 103 182 208 699 Held under repurchase agreements i 1*034 -- 1,034 — -. -- ~- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills 37,975 1,714 8,634 2,106 3,149 3,015 2,167 6,117 1,448 833 i,470 1,679 5,643 Certificates: „„ -. -- -.. ..-. -« ... -» -~ -- -- -- -- No ces 40,025 i,S07 9,100 2,220 5, ~< ? 3 3,179 V-34 . . '« v. ? - > • nL - . 4 -i " Bond s 3,283 747 182 „~y . "£". AV J8S Total nought c: ri.rV ' ' 81,283 18,481 4?508 t) f~ ^ 5 \'77rfa " ,"~, * x/ ,')?? Held undc1. cvnur'-h jt * a>"*J • . n-nr s 2,239 2,239 Total U.S. J\r- • 7 r n [ ie nf s ^j j, • 33",522 j ""20 .720 "~ ^508~"~ 1 ^ 'v.1 -,J~ Total loand .-nd secui i tie- 90,548 ! 3 '-L-! 2 3 711 4,793 / j L *-• b,906 TSSS 5 5' * Cash items in procrs'- --* c- . 1: • in.t 10,588 j 453 1,904 41.5 605 913 1,018 1,569 418 474 82 5 5 6 8 1 ,42o Bank premises 261 1 64 12 30 26 1.4 14 16 14 34 i 7 12 8 Other assets 3/ 2.893 1 47 2A032 55 80 87 75 151 35 „__2JL_ __J35L„ 43 221 TOTAL ASSETS 117,690 5,061 30,018 6,134 9,059 9,241 7,091 17,914 4,395 2,747 4,687 5,108 16,235 1/ Excludes $325 million of securities sold, and scheduled to be bought back, under matched sale-purchase transaction, 2/ Includes $116 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 BAN1I OS December 25, 1974 New Phila Cleve Rich 1 St. Minne Kansas San Total Boston York delphia land * mond Atlanta Louis apolis City Dallas Fran- ^ Chicago cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 72,165 3,426 17,914 4,464 6,226 6,509 3,988 11,449 2,964 1,404 2,634 2,695 8,492 Deposits: Member bank reserves 30,187 941 8,752 938 1,812 1,367 2,017 4,415 870 656 1,057 1,612 5,750 U. S. Treasurer--general account 2,671 126 381 177 213 301 180 330 167 139 104 173 380 Foreign 450 18 1/ 114 22 40 25 33 71 15 11 18 25 58 Other 775 1 688 4 1 13 22 9 2 26 Total deposits 34,083 1,086 9,935 "1, £5T~ 2,066 17m 27253 £73B~ 1,053 SOB- 1,182— 1,815 S72T4 Deferred availability cash items 7,979 411 1,237 361 485 808 604 1,126 262 459 425 1,062 Other liabilities and accrtl ed 739 dividends 1.276 52 356 65 95 88 P.Q 17ft ZL? 25 59 184 TOTAL LIABILITIES 115,503 4,975 29,442 6,031 8,872 9,111 6,933 17,578 4,321 2,696 4,59438 4,994 15,952 CAPITAL ACCOUNTS Capital paid in 895 35 235 42 78 50 69 137 29 22 37 49 112 Surplus 844 34 215 42 74 47 62 132 29 20 35 46 108 Other capital accounts 448 17 126 19 35 33 27 67 16 9 17 19 63 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 117,690 5,061 30,018 6,134 9,059 _9,241 7,091 .... 17,.914_ 4.395 .2^Z4Z_ JLJ&I UJ0SL . l£.235-_ Contingent liability on ace: eptances purchased for fore]- gn correspondents 1,120 46 2/285 55 99 6? P? 17ft ift ?ft Aft fti i/,q FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 74,839 3,533 18,480 4.545 6,422 6,695 4,251 11,703 3,115 1,444 2,779 2,854 9,018 Collateral for F. R. notes: Gold certificate account 3,055 150 400 450 330 520 200 700 300 5 U. S. Government securitie s 73,045 3,400 18,200 4,200 6,200 6.215 4,150 11,200 2,860 1,530 2.900 2, §90 9 r 300 Total collateral 7b, 1TT0 3,536 ig;6oti 4,650 6,530 i\l£ 4,350 11,900 3,160 1,530 2,900 2,895 9,300 1/ After deducting $336 million participations of other Federal Reserve Banks. 2/ After deducting $835 million participations of other Federal Reserve Banks. 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 non-member institutions in the Federal Reserve System's program of credit restraint. * Estimated (Cleveland and San Francisco Districts). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis