H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•oOt£ovf„; FEDERAL RESERVE Factors Affecting Bank Reserves and n Condition Statement of F.R. Banks H.4.1 For immediate release January 16, 1975 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Jan. 15, Jan • 8, Jan. 16, Jan. 15, and related items 1975 1975 1974 1975 Reserve Bank credit: (In millions of cl ollars) 1/2/ U.S. Government securities-- Bought outright--System account 80,693 - 206 +1,921 80,360 Held under repurchase agreements 101 - 380 + 32 68 Federal Agency obligations-- Bought outright 4,688 — — +2,770 4,688 Held under repurchase agreements 38 - 211 + 35 60 Acceptances-- Bought outright 606 + 18 + 542 615 Held under repurchase agreements 27 - 85 + 21 55 Loans-- Total member bank borrowing 608 + 296 - 380 2,889 Includes seasonal borrowing of: 13 - 6 7 11 Other borrowing — — —— — — mm mm Float 2,605 - 851 -1,034 2,636 Other F.R. assets 3,309 + 18 +2,098 3,493 Total Reserve Bank credit 92,675 -1 ,401 +6,005 94,864 Gold Stock 11,652 — - + 85 11,652 Special Drawing Rights certif. acct. 400 " — — — 400 Treasury currency outstanding 9,235 + 19 + 544 9,237 113,963 -1 ,381 +6,636 116,153 Currency in circulation * 78,204 698 +6,990 77,973 Treasury cash holdings * 212 mm «— - 138 212 Treasury deposits with F.R. Banks 1,352 - 498 - 818 1,366 Foreign deposits with F.R. Banks 446 + 122 + 128 950 Other deposits with F.R. Banks 3/ 901 - 85 + 195 731 Other F.R. liabilities and capital 3,194 + 123 + 344 3,232 84,308 -1 ,037 ++66,,770000 84,464 Member bank reserves: With Federal Reserve Banks 29,655 - 344 64 31,689 Currency and coin 8,567 +1 ,221 + 651 8,567 Total reserves held 38,222 + 877 + 520 40,256 Required reserves 38,258 +1 ,091 + 884 38,258 Excess reserves -36 - 214 - 364 1,998 NOTE: A net of $150 million of surplus reserves were eligible to be carried forward from the week ended January 8, into the week ending January 15. On January 15, 1975, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $33,419 million, an increase of $300 million for the week. 1/ Excludes $814 million of securities sold, and scheduled to be bought back, under matched sale-purchase transcations. 2/ Includes $155 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes $32 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 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 ALL FEDERAL RESERVE BANKS Wednesday Change since Jan. 15, Jan. 8, Jan. lb, 1975 1975 1974 A S S E TS Gold certificate account 11,652 + 192 Special Drawing Rights certif. accts. * 400 — — —— Cash (1,939) 272 + 24 - 8 Loans 2,889 + 2,764 + 1,655 Acceptances—Bought outright 615 + 27 + 550 Held under repurchase agreements 55 4- 49 + 12 Federal Agency obligations—Bought outright 4,688 — — + 2,768 Held under repurchase agreements 60 + 60 + 38 U.S. Government securities: Bought outright—Bills 36,646 + 1,916 - 442 Certificates Other Notes 40,403 + 379 + 1,889 Bonds 3.311 + 27 + 162 Total bought outright 1/2/ 80,360 + 2,322 + 1,609 Held under repurchase agreements 68 + 68 - 414 Total U.S. Government securities 80.428 + 2.390 + 1.195 Total loans and securities 88,735 + 5,290 + 6,218 Cash items in process of collection (1,754) 8,213 - 181 - 2,743 Bank premises 265 + 1 + 40 Other assets 3/ 3.228 + 32 + 2.143 TOTAL ASSETS (3,693) 112.765 + 5.166 + 5,842 L I A B I L I T I ES Federal Reserve notes (1,939) 69,220 738 + 6,311 Deposits: Member bank-reserves account 31,689 + 4,478 - 83 U. S. Treasurer—general account 1,366 + 625 - 485 Foreign 950 + 569 + 711 Other 4/ 731 - 35 + 81 Total deposits 34,736 + 5,637 + 224 Deferred availability cash items (1,754) 5,577 + 93 - 977 Other liabilities and accrued dividends 1.201 + 63 + 167 TOTAL LIABILITIES (3,693) 110,734 + 5,055 + 5,725 C A P I T AL L A C C O U N TS Capital paid in 898 + 1 + 51 Surplus 897 — + 53 Other capital accounts 236 + 110 + 13 Contingent liability on acceptances purchased for foreign correspondents 597 + 160 + 13 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $814 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $155 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $32 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. JANUARY 15, 1975 (Acceptances and securities held under repurchase agreements are classified as UUIIBBII..UULL 11UUKK WWii LLllllllll llAA uuJJoo yyoo JJ--1111 aatt,, »iLii moximix m maturic r or tne i agreements.) U.S. Goi zernment Federal Agency LLooaannss AAcccceepptt-- securjL ties obligat :ions aanncceess Holdings Weekly Holdings Weekly changes Changes 177 4,236 149 65 + 59 16 days to 90 days 427 20,080 1,345 266 91 days to 1 year 66 20,809 802 581 + 1 Over 1 year to 5 years 23,440 305 2,344 Over 5 years to 10 years 9,673 61 991 Over 10 years 2.190 26 501 -- Total 2,889 670 80,428 + 2,390 4,748 + 60 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b> STATEMENT OF COITION OF EACH FEDERAL RESERVE BANK ON JANUARY 15, 1975 I ! New Phila- Cleve- Rich- St. Minne- Kansas San TToottaall Boston AAttllaannttaa CChhiiccaaggoo DDaallllaass York delphia land mond Louis apolis City Francisco I 1 (In millions of dollars) A S S E T S Gold certificate account 11,652 410 5,278 415 1,078 793 304 878 461 228 367 469 971 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R^ notes of other banks 1,939 118 342 142 121 174 239 160 55 29 57 141 361 Other cash 272 16 21 12 33 22 39 29 23 10 19 13 35 Loans 2,889 110 1,663 133 10 45 8 694 49 29 8 21 119 Acceptances: Bought outright 615 615 •» mm Held under repurchase agreements 55 •* mm 55 WW • • w-w- __ Federal Agency obligations-- - Bought outright 4,688 211 1,041 265 397 374 268 766 183 105- 183 213 682 Held under repurchase agreements 60 60 — — • mm . * U.S. Government securities: Bought outright-- Bills 36,646 1,652: 8,141 2,072 3,107 2,919 2,094 5,985 1,433 881177 1,432 1,661 5,333 Certificates: Other —— —— —— —-mm * __ Notes 40,403 1,821 8,975 2,285 3,425 3,219 2,308 6,598 1,579 901 1,579 1,832 5,881 Bonds 3,311 149 735 187 281 264 189 541 129 74 130 150 482 Total bought outright 1/2/ 80,360 3,622 17,851 4,544 6,813 6,402 4,591 13,124 3,141 1,792 3,141 3,643 11,696 Held under repurchase agreements 68 — 68 -— -- —— Total U.S. Government securities 80.428 - 3.622 17.919 4.544 6.813 6.402 4.591 13.124 3..141 1.792 3.141 3.643 11.696 Total loans and securities 88,735 3,943 21,353 4,942 7,220 6,821 4,867 14,584 3,373 1,926 3,332 3,877 12,497 Cash items in process of collection 9,967 447 1,452 352 550 1,070 1,011 1,405 472 458 798 694 1,258 Bank premises 265 66 12 31 26 15 14 16 14 34 17 12 8 Other assets 3/ 3.228 54 2.115 68 94 91 154 184 51 29 44 49 295 116,458 5,077 30,666 5,985 9,155 9,022 6,650 17,326 4,464 2,721 4,649 5,269 15,474 TOTAL ASSETS t- 1/ Excludes $814 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes £155 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 JANUARY 15, 1975 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) L I A B I L I T I ES Federal Reserve notes 71,159 3,388 17,749 4,402 6,172 6,459 3,834 11,219 2,946 1,424 2,592 2,660 8,314 Deposits: Member bank reserves 31,689 1,076 9,477 1,056 2,162 1,242 1,847 4,407 983 755 1,153 1,773 5,758 U. S. Treasurer--general account 1,366 73 145 62 104 183 77 204 73 51 75 136 183 Foreign 950 10 1/757 13 23 15 19 41 9 6 10 14 33 Other 3/ 731 624 4 1 17 24 5 6 2 3 6 39 Total"" deposits 34,736 1,159 11,003 1,135 2,290 1,457 1,967 4,657 1,071 814 1,241 1,929 6,013 Deferred availability cash items 7,331 400 1,132 287 426 903 618 961 337 408 690 523 646 Other liabilities and accrued di T v O i T d A e L n d L s I ABILITIES . 11 - 4 H ,4 O 2 I 7 4/ , J 9 8 97 3 , 0 , 2 1 5 3 5 9 5,88 6 8 4 8,97 9 9 1 8,9 8 0 5 4 6,50 8 0 1 17, 1 0 7 1 4 1 4,39 69 6 2,67 2 3 7 4,56 4 5 2 5,16 4 1 9 15, 2 2 4 1 1 4 CAPITAL ACCOUNTS Capital paid in 898 35 235 42 73 50 69 138 30 22 38 49 112 Surplus 897 35 235 42 78 50 69 138 30 22 37 49 112 Other capital accounts 236 10 57 13 20 18 12 39 8 4 9 10 36 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 116,458 5,077 30,666 5,985 9,155 9,022 6,650 17.326 4.464 2.721 4,649 5.269 15.474 Contingent liability on acceptances purchased for foreign correspondents 597 24 2/ 152 29 53 34 44 94 90 14 24 33 76 FEDERAL RESERVE AGENTS1 ACCOUNTS. F C . o l R la . t e n r o a t l e s fo o r u t F s . t a R n . d i n n o g t es: 75,130 3,546 18,575 4,545 6,409 6,751 4,321 11,643 3,128 1,482 2,782 2,881 9,067 S G p o e l c d i a c l e r D t r i a f w i i c n a g t e R i a g c h c t o s u n c t e rtif. acct 3,1 9 4 3 0 150 750 93 — 3 0 — 0 - — - 205 600 155 700 275 5 Acceptances 425 425 — — — — —— U. T o S t . a l G o c v o e l r l n a m t e e n r t a l s ecurities 7 72 6 . . 6 3 3 3 Q 8 3 3 . ,5 4 7 2 5 5 1 1 8 7 ,6 . 9 4 3 25 4 4 .6 . Q 3 Q 00 6.5 6 3 . 0 3 6 2 . 5 m 6 o . o 200 4 l , n 2* 50 n,?oo ,9QQ ?r<n 3 o ,185 — i 1 s ^ m 530 7,9 2 0 ,9 0 00 2,92 7 0 , 915 A 9 3 , Q 30 £L 0 1/ After deducting $193 million participations of other Federal Reserve Banks. 2/ After deducting $445 million participations of other Federal Reserve Banks. 3/ Includes $32 of certain deposits of foreing-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