H.4.1 Factors Affecting Reserve Balances of Depository Institutions

• oQt£ow.- FEDERAL RESERVE Factors Affecting Bank Reserves and f*Al Rt^. Condition Statement of F.R. Banks H.4.1 For immediate release January 2, 1975 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Jan. 1, * Dec. 25, Jan. 2, Jan. 1, * and related items 1975 1974 1974 1975 Reserve Bank credit: (In millions of dl ollars) _l/2/ U.S. Government securities-- Bought outright--System account 81,044 - 15 4-2,721 80,058 Held under repurchase agreements 1,343 - 396 + 841 443 Federal Agency obligations-- Bought outright 4,702 —— +2,787 4,702 Held under repurchase agreements 814 + 72 + 703 511 Acceptances-- Bought outright 567 + 50 + 498 579 Held under repurchase agreements 465 + 187 + 372 420 Loans-- Total member bank borrowing 561 - 101 - 649 301 Includes seasonal borrowing of: 22 - 7 9 11 Other borrowing —— —— - - —— Float 3,307 +1 ,025 - 766 1,960 Other F.R. assets 3,204 + 63 +2,000 3,195 Total Reserve Bank credit 96,007 + 886 +8,508 92,169 Gold Stock 11,652 -— + 85 11,652 Special Drawing Rights certif. acct. 400 - - -— 400 Treasury currency outstanding 9,210 + 16 + 528 9,212 117,269 + 902 +9,121 113,433 Currency in circulation ** 79,630 + 294 +7,160 79,713 Treasury cash holdings ** 212 *» •» - 119 212 Treasury deposits with F.R. Banks 2,606 + 135 + 352 3,113 Foreign deposits with F.R. Banks 333 - 12 + 2 418 Other deposits with F.R. Banks 3/ 878 + 126 - 100 1,2.10 Other F.R. liabilities and capital 3,341 - 58 + 364 2,942 87,000 + 485 +7,659 87,608 Member bank reserves: With Federal Reserve Banks 30,269 + 417 +1,461 25,825 Currency and coin 7,360 + 388 + 579 7,360 Total reserves held 37,629 + 805 +1,973 33,185 Required reserves 37,011 + 584 +1,743 37,011 Excess reserves 618 4- 221 + 230 -3,826 NOTE: A net of $243 estimated million of surplus reserves were eligible to be carried forward from the week ended December 25, 1974, into the week ending January 1, 1975. On January 1, 1975, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $32,836 million, an increase of $499 million for the week. 1/ Excludes $1,427 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $173 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 System's program of credit restraint. £ * Estimated (Philadelphia and Cleveland Districts). jLO*"" ^ f ^ Digitized for FRAESsEtRi mated (Treasury's Figures). 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 Jan. 1, Dec. 25, Jan. 2, A S S E TS Gold certificate account 11,652 + 192 Special Drawing Rights certif. accts. * 400 L C o a a sh n s (1,317) 242 - 7 - . 26 301 - 126 689 Acceptances—Bought outright 579 + 39 + 514 Held under repurchase agreements 420 97 + 215 Federal Agency obligations—Bought outright 4,702 —— + 2,782 Held under repurchase agreements 511 - 523 + 199 U.S. Government securities: Bought outright—Bills 36,765 - 1,210 - 319 Certificates Other Notes 40,009 16 + 1,495 Bonds 3,284 + 1 + 135 Total bought outright 11//22// 80,058 - 1,225 + 1,311 Held under repurchase agreements . 443 - 1.796 - 1.219 Total U.S. Government securities 80.501 3.021 + 92 Total loans and securities 87,014 - 3,534 + 3,113 Cash items in process of collection (1,441) 8,531 - 68 - 4,371 Bank premises 263 + 2 + 40 Other assets 3/ 2,932 + 39 + 1,953 TOTAL ASSETS (2,758) 111.034 3,568 + 901 L I A B I L I T I ES Federal Reserve notes (1,317) 70,955 111 + 6,685 Deposits: Member bank-reserves account 25,825 - 4,362 - 7,242 U. S. Treasurer--general account 3,113 + 442 + 1,128 Foreign 418 - 32 + 109 Other 4/ 1.210 + 435 + 497 Total*" deposits 30,566 - 3,517 - 5,508 Deferred availability cash items (1,441) 6,571 + 581 - 460 Other liabilities and accrued dividends 1.148 - 128 + 105 TOTAL LIABILITIES (2,758) 109,240 3,175 + 822 £C AA £PII TTAALL A C C O U N TS Capital paid in Surplus 897 + 2 + 54 897 + 53 + 53 Other capital accounts 448 - 28 Contingent liability on acceptances purchased for foreign correspondents 981 139 + 402 T/ 518?reS 1a Parentheses are the eliminations made in the consolidating process. 1/ Excludes $1,427 million of securities sold, and scheduled to be bought back under matched sale-purchase transactions. ' 2/ Includes $173 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ 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. * Estimated (Philadelphia and Cleveland Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JANUARY 1. 1Q7S (Acceptances and securities held under repurchase agreements are classified as agreements.) U.S. Government Federal Agency Loans Accept- securiL ties obligations ances Holdings Weekly Holdings Weekly changes IChanges 275 489 4,939 r/ - 2,452 535 - 523 16 days to 90 days 26 436 20,265 r/ - 318 272 + 6 91 days to 1 year 74 20,401 - 110 574 - 6 Over 1 year to 5 years 23,120 - 141 2,340 Over 5 years to 10 years 9,612 — 991 Over 10 years 2«164 -- 501 — Digitized for FRASER Total 301 999 80,501 - 3,021 5,213 - 523 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 1, 1975 H.4.1(b) Total Boston P d h e i l p l h a i - a C l l a e nd v e * - m R o i n c d h - Atlanta Chicago M a i p n o n l e i - s Dallas (In millions of dollars) G S o p l e d c i c a e l r t D i r f a i w A c i a n S g t e S R a i E c g c h T o t S u s nt certif. acct. 11,6 4 5 0 2 0 31 2 1 3 3,41 9 3 3 61 2 4 3 66 33 2 90 3 7 6 34 2 3 2 1,94 7 6 0 51 1 8 5 309 7 55 1 6 5 57 1 2 4 1,50 4 1 9 F O . t R h . e r n o c t as e h s of other banks 1,3 2 3 1 4 0 7 2 1 7 1 5 4 5 23 9 1 3 1 4 7 2 1 0 3 0 7 3 7 3 3 9 1 5 6 7 0 19 3 1 2 5 9 2 7 2 4 8 8 4 2 8 1 2 27 9 2 5 1 0 3 8 9 2 1 2 3 1 27 3 5 9 6 2 Loans Acceptances: Bought outright 579 579 Held under repurchase agreements 420 420 Fed B e o r u a g l h t A o g u e t n r c i y g h o t b ligations-- 4,702 212 1,044 266 399 374 269 768 184 105 184 213 684 Held under repurchase agreements 511 511 U.S. Government securities: Bought outright-- 820 1,438 1,666 5,351 8,167 2,079 3,117 2,929 2,100 6,004 1,437 Bills 36,765 1,657 Certificates: N B o o t n e d s s Other 40 3 , . 0 2 0 8 9 4 1,8 1 0 4 3 8 8,8 7 8 29 8 1 2 8 , 6 2 62 3 6 , 7 3 2 8 9 7 7 2 8 6,37 3 8 ,1 2 8 6 7 2 4,5 2 74 ,2 1 8 8 6 8 13,07 6 4 ,5 5 3 3 4 6 1 1 3 2 , , 9 5 1 6 3 4 0 1,785 89 7 2 3 3,13 1 0 ,5 1 6 2 4 8 3,62 1 9 , 8 1 1 4 4 9 1 5 1 , , 8 4 6 2 7 5 3 8 2 Total bought outright.1/2/ 80,058 3,608 17,784 4,527 Held under repurchase agreements 443 443 3.130 3.629 11.652 Total U.S. Government securities 80.501 3.608 ift 797 6.527 6.787 6,378 4.574 12,388 20,872 4,816 7,189 6,802 4,862 13,870 3,316 1,892 3,317 3,865 Total loans and securities 87,014 3,825 B C O a a t s n h h k e r p i r a t e s e m s ms i et s s e i s n 3 p / r ocess of collection 9 2 . , 9 9 7 3 2 2 38 4 6 7 5 8 1 2 , . 4 0 5 2 1 6 9 2 42 3 6 5 1 2 66 2 8 7 6 2 1,0 1 8 1 0 4 4 2 1,38 1 7 9 4 3 1 2 1 9 S 1 0 S 6 3 1 4 7 4 20 4 2 3 6 4 2 5 3 1 9 7 8 0 4 7 5. 1 6 2 3 6 9 2 8 3 7 3 8 28,122 6,051 8,769 9,058 6,930 17,449 4,389 2,729 4,819 5^247_ TOTAL ASSETS 113,792 4,748 to be bought back, under matched sale-purchase transaction. Excludes $1,427 million of securities sold, and scheduled U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes $143 million securities loaned—fully secured by 3/ Includes assets denominated in foreign currencies. * Estimated (Philadelphia and Cleveland 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 January 1, 1975 New Phila- Cleve- Rich- St. Minne- Kansas San TToottaall Boston York ddeellpphhiiaa land * mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 72,272 3,441 17,980 4,472 6,243 6,493 3,984 11,374 2,970 1,412 2,633 2,708 8,562 Deposits: Member bank reserves 25,825 674 6,139 865 1,269 1,167 1,727 4,196 829 682 1,202 1,745 5,330 U. S. Treasurer—general account 3,113 116 1,080 152 377 162 97 280 155 129 103 105 357 Foreign 416 12 1/ 202 14 26 16 21 46 10 7 11 16 37 Other 3/ 1,21C 23 814 4 1 52 48 90 18 11 24 30 95 Total deposits 30,566 825 8,235 1,035 1,673 1,397 1,893 4,612 1,012 829 1,340 1,896 5,819 Deferred availability cash items 8,012 362 1,157 393 602 985 849 1,015 306 441199 773311 449988 669955 Other liabilities and accrued dividends 1,148 50 280 67 95 83 66 172 41 25 41 47 181 TOTAL LIABILITIES 111,998 4,678 27,652 5,967 8,613 8,958 6,792 17,173 4,329 2,685 4,745 5,149 15,257 CAPITAL ACCOUNTS Capital paid in 897 35 235 42 78 50 69 138 30 22 37 49 112 Surplus 897 35 235 42 78 50 69 138 30 22 37 49 112 Other capital accounts -- — -- —— —— mm mm • mm TOTAL LIABILITIES AND CAPITAL ACCOUNTS 113,792 4,748 28,122 6,051 8,769 9,058 6,930 17,449 4,389 2,729 4,819 5,247 15,481 Contingent liability on acceptances purchased for foreign correspondents 981 40 2/ 249 48 87 55 72 154 33 23 40 54 1?fi FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 75,116 3,552 18,545 4,555 6,435 6,729 4,273 11,721 3,117 1,461 2,800 2,867 9,061 Collateral for F. R. notes: Gold certificate account 3,055 150 400 450 330 520 200 700 300 5 Special Drawing Rights 93 93 Acceptances 55Q 550 U.S. Govt, securities 72,535 3.425 17.600 4.200 6,200 6.300 4j_150 11.200 2,860 1,530 2,900 2,890 9,300 Total collateral 76,253 3.575 18.643 4.650 6,530 M 2Q 4,350 11,900 3,160 1,530 7,900 2,895 9-300 ~ 1/ After deducting $216 million participations of other Federal Reserve Banks. 2/ After deducting $732 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 (Philadelphia and Cleveland Districts).. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis