H.4.1 Factors Affecting Reserve Balances of Depository Institutions

,.$SSSafe-. FEDERAL RESERVE UfflJ Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release January 23, 1975 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Jan. 22, Jan. 15, |Jan. 23, Jan. 22, and related items 1975 1975 1974 1975 Reserve Bank credit: (In millions of dollars) T7I7 U.S. Government securities-- Bought outright—System account 80,503 - 190 +2,217 80,637 Held under repurchase agreements 774 + 673 + 677 3,317 Federal Agency obligations-- Bought outright 4,688 — +2,772 4,688 Held under repurchase agreements 140 + 102 + 130 664 Acceptances-- Bought outright 630 + 24 + 566 646 Held under repurchase agreements 83 + 56 + 82 337 Loans-- Total member bank borrowing 594 - 14 - 588 2,444 Includes seasonal borrowing of: 1 2 -1 1 15 Other borrowing Float 2,076 - 552 -1,132 2,063 Other F.R. assets 3.443 + 134 +2,172 3,928 Total Reserve Bank credit 92,932 + 234 +6,896 98,724 Gold Stock 11,652 — + 85 11,652 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 9.239 _± 4_ + 516 9.242 114,223 + 237 +7,497 120,018 Currency in circulation * 77,463 - 741 +6,882 77,185 Treasury cash holdings * 212 — - 151 212 Treasury deposits with F.R. Banks 1,618 + 266 - 733 1,857 Foreign deposits with F.R. Banks 279 - 167 - 119 230 Other deposits with F.R. Banks 3/ 828 73 + 119 906 Other F.R. liabilities and capital 3,366 + 172 + 407 3,618 83,766 - 542 +6,405 84,008 Member bank reserves: With Federal Reserve Banks 30,457 + 779 +1,093 36,010 Currency and coin 7,837 - 730 + 658 7,838 Total reserves held 38,294 + 49 +1,684 43,848 Required reserves 38,075 - 183 +1,382 38,085 Excess reserves 219 + 232 J- 302 5,763 NOTE: A net of $15 million of deficit reserves were eligible to be carried forward from the week ended Jaiuary 15, into the week ending January 22. On January 22, 1975, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $34,645 million, an increase of $1,226 million for the week. 1/ Excludes $349 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $146 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 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 ALL FEDERAL RESERVE BANKS Wednesday Change since Jan. 22, Jan. 15, Jan. 23, 1975 1975 1974 A S S E TS Gold certificate account 11,652 + 192 Special Drawing Rights certif. accts. * 400 — -- Cash (2,147) 291 + 19 - 2 Loans 2,444 - 445 - 222 Acceptances--Bought outright 646 + 31 + 581 Held under repurchase agreements 337 + 282 + 327 Federal Agency obligations—Bought outright 4,688 —- + 2,779 Held under repurchase agreements 664 + 604 + 592 U.S. Government securities: Bought outright—Bills 36,923 + 277 - 6 Certificates Other Notes 40,403 + 1,889 Bonds 3,311 — — + 162 Total bought outright 1/2/ 80,637 + 277 + 2,045 Held under repurchase agreements 3,317 + 3,249 + 2.639 Total U.S. Government securities 83.954 + 3.526 + 4.684 Total loans and securities 92,733 + 3,998 + 8,741 Cash items in process of collection (1,649) 7,327 886 - 1,643 Bank premises 266 + 1 + 42 Other assets 3/ 3.662 + 434 + 2.592 TOTAL ASSETS (3,796) 116.331 +_3 .566 ±_ 9.922 L I A B I L I T I ES Federal Reserve notes (2,147) 68,446 774 + 6,235 Deposits: Member bank-reserves account 36,010 + 4,321 + 4,954 U. S. Treasurer--general account 1,857 + 491 - 1,041 Foreign 230 - 720 - 483 Other 4/ 906 + 1 75 ± 2JJ Total deposits 39,003 + 4,267 + 3,643 Deferred availability cash items (1,649) 5,264 - 313 - 573 Other liabilities and accrued dividends 1,47s + ?76 + 482 TOTAL LIABILITIES (3, 796) 114,188 + 3,454 + 9,787 C A P I T AL A C C O U N TS Capital paid in 900 + 2 + 52 Surplus 897 — — + 53 Other capital accounts 346 + 110 + 30 Contingent liability on acceptances purchased for foreign correspondents 487 110 88 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $349 million of securities sold, and scheduled to be bought back, ~~ under matched sale-purchase transactions. 2/ Includes $146 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 22. 1975 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 davs in accordance with maximum maturityr of the agreements.) U.S. Government Federal Agency Loans Accept- securdL ties obligations ances Holdings Weekly Holdings Weekly changes Changes Within 15 days 2,444 513 8,141 + 3,905 716 + 651 16 days to 90 days -— 376 19,746 - 334 216 - 50 91 days to 1 year —— 94 20,764 45 616 + 35 Over 1 year to 5 years —— 23,440 -- 2,313 - 31 Over 5 years to 10 years — — 9,673 -- 990 1 Over 10 years mm • 2.190 —— 501 -- Total 2,444 983 83,954 + 3,526 5,352 + 604 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 JANUARY 22, 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) A S S E TS Gold certificate account 11,652 683 1,935 261 1,077 1,021 585 2,025 491 199 353 651 2,371 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 2,147 135 408 161 137 182 276 146 64 30 61 151 396 Other cash 291 17 23 12 36 24 41 31 24 10 21 14 38 Loans 2,444 152 1,465 178 195 81 16 100 5 6 2 73 171 Acceptances: Bought outright 646 646 Held under repurchase agreements 337 337 Federal Agency obligations— Bought outright 4,688 211 1,041 265 397 374 268 766 183 105 183 213 682 Held under repurchase agreements 664 664 U.S. Government securities: Bought outright— Bills 36,923 1,664 8,203 2,088 3,130 2,941 2,109 6,030 1,444 824 1,443 1,673 5,374 Certificates: Other 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/ 80,637 3,634 17,913 4,560 6,836 6,424 4,606 13,169 3,152 1,799 3,152 3,655 11,737 Held under repurchase agreements 3.317 3.317 Total U.S. Government securities 83.954 3.634 -21.230 4.560 6.836 6.424 4.606 13.169 3.152 1.799 3.152 3.655 11.737 Total loans and securities 92,733 3,997 25,383 5,003 7,428 6,879 4,890 14,035 3,340 1,910 3,337 3,941 12,590 Cash items in process of collection 8,976 351 1,287 380 506 962 922 858 554 423 827 635 1,271 Bank premises 266 66 12 32 26 15 14 16 14 34 17 12 8 Other assets 3/ 3.662 58 2.650 70 99 98 95 194 48 29 46 53 222 TOTAL ASSETS 120,127 5,330 31,791 5,942 9,342 9,217 6,845 17,375 4,550 2,642 4,677 5,471 16,945 1/ Excludes $349 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $146 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ 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 22, 1975 San New Phila- Cleve- Rich- St. Minne- Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 70,593 3,361 17,671 4,371 6,133 6,429 3,752 11,099 2,927 1,420 2,564 2,639 8,227 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 36,010 1,406 10,974 995 2,414 1,536 1,996 4,659 976 689 1,219 1,954 7,192 UUUUU..... SSSSS..... TTTTTrrrrreeeeeaaaaasssssuuuuurrrrreeeeerrrrr—————gggggeeeeennnnneeeeerrrrraaaaalllll aaaaaccccccccccooooouuuuunnnnnttttt 1,857 64 388 120 97 181 148 129 155 55 78 232 210 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 230 8 1/ 83 9 17 11 15 31 7 5 8 11 25 906 5 817 1 2 18 23 14 1 2 2 5 16 OOOOOttttthhhhheeeeerrrrr 22222///// TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 39,003 1,483 12,262 1,125 2,530 1,746 2,182 4,833 1,139 751 1,307 2,202 7,443 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 6,913 352 968 282 404 832 673 939 371 394 677 469 552 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 1,475 49 337 61 89 84 82 170 41 26 41 48 447 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 117,984 5,245 31,238 5,839 9,156 9,091 6,689 17,041 4,478 2,591 4,589 5,358 16,669 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 900 35 235 42 79 50 69 139 30 22 38 49 112 SSSSSuuuuurrrrrpppppllllluuuuusssss 897 35 235 42 78 50 69 138 30 22 37 49 112 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 346 15 83 19 29 26 18 57 12 7 13 15 52 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 120,127 5,330 31.791 5,942 9.342 9.217 6.845 17.375 4.550 2.642 4.677 5.471 16.945 CCCCCooooonnnnntttttiiiiinnnnngggggeeeeennnnnttttt llllliiiiiaaaaabbbbbiiiiillllliiiiitttttyyyyy ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 487 19 2/ 127 23 42 27 37 75 17 12 20 27 61 FEDERAL RESERVE AGENTS1 ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 74,928 3,530 18,559 4,527 6,402 6,744 4,304 11,593 3,115 1,477 2,767 2,867 9,043 CCoollllaatteerraall ffoorr FF.. RR,, nnootteess:: GGoolldd cceerrttiiffiiccaattee aaccccoouunntt 3,047 150 750 250 205 600 155 700 232 — — 5 SSppeecciiaall DDrraawwiinngg RRiigghhttss cceerrttiiff.. aacccctt 93 AAcccceeppttaanncceess 425 UU..SS.. GGoovveerrnnmmeenntt sseeccuurriittiieess 72.730 3.425 17.425 4,300 6.325 6,200 4,250 11,200 2,960 1,530 2,900 2,915 9,300 TToottaall ccoollllaatteerraall 76,295 3,575 18,693 4,550 6,530 6,800 4,405 11,900 3,192 1,530 2,900 2,920 9.300 1/ After deducting $147 million participations of other Federal Reserve Banks. 2h After deducting $360 million participations of other Federal Reserve Banks. 3/ Includes $32 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 Digitized for FRASER institutions in the Federal Reserve Svstemis program of credit restraint. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis