H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and •f<4LREs*- Condition Statement of F.R. Banks H.4.1 For immediate release March 20, 1975 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, March 19, March iz, March ZD, March 19, and related items 1975 1975 1974 1975 Reserve Bank credit: (In millions of dollars) U.S. Government securities- 1/2/ Bought outright—System account 77,849 +411 - 50\ 78,974 Held under repurchase agreements — — — — - 492 Special Certificates 515 +277 + 515 Federal Agency obligations-- Bought outright 4,981 - 1 +3,028 4,981 Held under repurchase agreements -- -- 18 Acceptances-- Bought outright 659 - 10 + 589 655 Held under repurchase agreements -- -- 45 Loans-- Total member bank borrowing 167 +106 -1,316 854 Includes seasonal borrowing of: 5 - 2 - 29 6 Other borrowing Float 1,974 -151 + 85 2,315 Other F.R. assets 3.217 +132 +2.256 3.161 Total Reserve Bank credit 89,362 +763 +4,100 90,940 Gold stock 11,620 —— .+ 53 11,620 Special Drawing Rights certif. acct. 400 - - -- 400 Treasury currency outstanding 9.344 + 3 + 576 9.348 110,727 +767 +4,730 112,308 Currency in circulation * 77,933 +173 +6,647 78,065 Treasury cash holdings * 212 —— - 125 212 Treasury deposits with F.R. Banks 386 -204 - 938 1,795 Foreign deposits with F.R. Banks 332 + 23 + 32 321 Other deposits with F.R. Banks 3/ 994 + 71 + 263 870 Other F.R. liabilities and capital 3.006 + 54 + 12 2.971 82,863 +116 +5,891 84,234 Member bank reserves: With Federal Reserve Banks 27,864 +650 -1,161 28,074 Currency and coin 6.645 -654 + 528 6.645 Total reserves held 34,509 - 4 - 700 34,719 Required reserves 34,479 +225 - 650 34,479 Excess reserves 30 -229 50 240 NOTE: A net of $141 million of surplus reserves were eligible to be carried forward from the week ended March 12, into the week ending March 19. On March 19, 1975, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $38,120 million, a decrease of $325 million for the week. 1/ Excludes $1,188 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $126 million securities loaned—fully secured by U.S. Government ~~ securities pledged with Federal Reserve Banks. 3/ Includes $33 million of certain deposits of foreign-owne dbanking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntar yparticipation by non-member institutions in the Federal Reserve System's program of credit restraint. Digitized for FRASER http://fraser.stl*ou iEsfsetd.iomrga/ ted Treasury's Figures. 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 Mar. 19, Mar. 12, Mar. 20 A S S E TS 1975 1975 - 1974 Gold certificate account 11,620 —— + 160 Special Drawing Rights certif. acct * 400 -— — — Cash (1,614) 349 - 3 + 67 Loans 854 + 769 - 1,309 Acceptances--Bought outright 655 - 12 + 581 Held under repurchase agreements — - - - 92 Federal Agency obligations--Bought outright 4,981 • — + 3,028 Held under repurchase agreements -- -- - 36 U.S. Government securities: Bought outright--Bills 34,944 + 4,372 - 1,474 Certificates -- - 1,043 -- Notes 40,495 —— + 1,539 Bonds 3.535 —— + 531 Total bought outright 1/1/ 78,974 + 3,329 + 596 Held under repurchase agreements — — —— - 1,094 Total U.S. Government securities 78.974 4-3.329 - 498 Total loans and securities 85,464 + 4,086 + 1,674 Cash items in process of collection (1,675) 7,522 - 35 - 338 Bank premises 274 + 1 + 46 Operating Equipment J5/ 2 + 2 + 2 Other assets 2/ 2.885 - 12 + 2.115 TOTAL ASSETS (3,289) 108.516 + 4.039 + 3.726 L I A B I L I T I ES Federal Reserve notes (1,614) 69,278 59 + 6,182 Deposits: Member bank-reserves account 28,074 + 2,302 - 1,846 U.S. Treasury--general account 1,795 + 1,795 - 284 Foreign 321 + 7 + 60 Other 4_/ 870 - 119 + 195 Total deposits 31,060 + 3,985 - 1,875 Deferred availability cash items (1,675) 5,207 + 35 - 530 Other liabilities and accrued dividends 1.048 - 25 + 47 TOTAL LIABILITIES (3,289) 106,593 + 3,936 + 3,824 C A P I T AL A C C O U N TS Capital paid in 902 + 3 + 32 Surplus 897 — — + 53 Other capital accounts 124 + 100 183 Contingent liability on acceptances purchased, for foreign correspondents 68 23 605 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $1,118 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $126 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $33 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. 5/ Operating Equipment, provides for capitalization of operating equipment costing over $10,000. There amounts were previously charged to Current Expense. MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. MAnr.n IQ^ 1Q7R (Acceptances and securities held under repurchase agreements are classified as U.S. Government Federal Agency Loans Accept- securities obligati .ons ances Holdings Weekly Holdings Weekly changes changes Within 15 days 854 129 4,582 + 1,885 6 + 6 16 days to 90 days —— 405 20,007 + 1,242 189 - 6 91 days to 1 year -- 121 21,203 + 202 643 —— Over 1 year to 5 years -- -- 20,733 - - 2,578 • mm Over 5 years to 10 years -- -- 10,035 —— 1,045 — — Digitized for FR O A v S e E r R 1 0 years -- -- 2.414 —— 520 http://fraser.stlouis T fe o d t . a o l rg / 854 655 78,974 + 3,329 4,981 -- Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 19, 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 11,620 644 2,032 630 671 1,053 536 2,420 663 245 669 650 1,407 Special Drawing Rights certif. acct 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,614 69 379 83 96 120 274 96 28 14 41 121 293 Other cash 349 21 31 13 42 32 47 36 28 15 27 17 40 Loans 854 618 5 2 25 2 18 2 28 4 10 114400 Acceptances: Bought outright 655 • «• 655 mm am -- __ Held under repurchase agreements — — • — -* mm — mm mm — __ Federal Agency obligations— Bought outright 4,981 220 1,214 272 408 389 278 795 192 111 195 221 686 Held under repurchase agreements — •» — — — — mm mm U.S. Government securities: Bought outright- Bills 34,944 1,544 8,516 1,909 2,863 2,729 1,950 5,578 1,349 777 1,368 1,549 4,812 Certificates Notes 40,495 1,789 9,869 2,213 3,318 3,163 2,259 6,464 1,562 901 1,586 1,794 5,577 Bonds 3.535 156 862 193 290 276 197 564 136 79 138 157 487 Total bought outright \/2/ 78,974 3,489 19,247 4,315 6,471 6,168 4,406 12,606 3,047 1,757 3,092 3,500 10,876 Held under repurchase agreeemnts -- -- — — -— -- — Total U.S. Government securities 78.974 3.489 19.247 4.315 6.471 6,168 4,406 12.606 3.047 1.757 3,092 3,500 10,876 Total loans and securities 85,464 3,709 21,734 4,592 6,881 6,582 4,686 13,419 3,241 1,896 3,291 3,731 11,702 Cash items in process of collection 9,197 364 1,289 301 503 1,129 861 1,385 437 418 718 609 1,183 Bank premises 274 70 12 36 26 15 14 16 14 34 17 12 8 Operating Equipment 4/ 2 — — 2 —— — — m* mm * Other assets 3/ 2.885 45 2.060 57 73 81 61 149 38 26 39 43 213 TOTAL ASSETS 111,805 4,945 27,632 5,735 8,325 9,048 6.501 17,591 4,464 4,817 5,197 —14,895 \J Excludes $1,118 million of securities sold, and scheduled to be bought back, under matched sale-purchase transaction. 2/ Includes $126 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve isanKS • 3/ Includes assets denominated in foreign currencies. 4/ Operating Equipment, provides for capitalization of operating equipment costing over $10,000. There amounts were previously charged to Current Expense. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON March 19, 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) L I A B I L I T I ES Federal Reserve notes 70,892 3,382 17,733 4,336 6,148 6,462 3,741 11,175 2,960 1,441 2,585 2,641 8,288 DDeeppoossiittss:: MMeemmbbeerr bbaannkk rreesseerrvveess 28,074 974 6,774 880 1,362 1,275 1,813 4,753 979 700 1,392 1,820 5,352 UU.. SS,, TTrreeaassuurreerr----ggeenneerraall aaccccoouunntt 1,795 110 446 121 120 155 142 161 96 82 81 109 172 FFoorreeiiggnn 321 10 1/ 129 12 23 14 20 40 9 6 11 14 33 OOtthheerr 33// 870 783 2 20 24 3 3 2 2 8 23 TToottaall ddeeppoossiittss 31,060 1,094 8,132 1,015 1,505 1,464 1,999 4,957 1,087 790 1,486 1,951 5,580 DDeeffeerrrreedd aavvaaiillaabbiilliittyy ccaasshh iitteemmss 6,882 349 1,029 239 424 938 557 1,008 316 353 629 459 581 OOtthheerr lliiaabbiilliittiieess aanndd aaccccrruueedd ddiivviiddeennddss 1,048 45 242 54 80 74 58 152 36 24 37 42 204 TOTAL LIABILITIES 109,882 4,870 27,136 5,644 8,157 8,938 6,355 17,292 4,399 2,608 4,737 5,093 14,653 CCAAPPIITTAALL AACCCCOOUUNNTTSS CCaappiittaall ppaaiidd iinn 902 35 231 42 79 50 70 140 31 22 38 50 114 SSuurrpplluuss 897 35 235 42 78 50 69 138 30 22 37 49 112 OOtthheerr ccaappiittaall aaccccoouunnttss 124 5 30 7 11 10 7 21 4 3 5 5 16 TTOOTTAALL LLIIAABBIILLIITTIIEESS AANNDD CCAAPPIITTAALL AACCCCOOUUNNTTSS 111,805 4,945 27,632 5,735 8,325 9,048 6,501 17,591 4,464 2,655 4,817 5,197 14,895 Contingent liability on acceptances purchased for foreign correspondents 68 3 2/ 18 3 6 4 5 10 2 2 3 4 8 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 74,450 3,529 18,716 4,429 6,361 6,659 4,220 11,433 3,1 24 1,485 2,731 2,805 8,958 Collateral for F, R, notes: Gold certificate account 3,809 250 750 450 275 932 155 700 292 -- -- 5 -- Special Drawing Rights certif. acct . 138 23 93 -- —— — — 22 - — — — — -- — -- Acceptances —— — - - —- -- -- -- - - - - -- • -- -- -- U.S. Government securities 72.277 3.275 18.050 4.050 6.210 5.822 4,150 11 r 200 2,8 75 l r 530 2,900 2,915 9,300 Total collateral 76,224 3,548 18,893 4,500 6,485 6,754 4,327 11,900 3,1 67 1,530 2,900 2,920 9,300 1/ After deducting $192 million participations of other Federa lReserve Banks, 2/ After deducting $50 million participations of other Federa lReserve Banks. 2/ Includes $33 of certai ndeposits of foreign-owned banking insitutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntar yparticipation by nonmember institutions in the Digitized for FRASER Federal Reserve System's program of credit restraint. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis