H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 22, 1975 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday May 21, Reserve Bank credit, May 21, May 14, 1975 * and related items 1975 * 1975 Reserve Bank credit: 1/ (In millions of dollars) ~2737 U.S. Government securities-- 84,332 + 45 + 5,212 84,343 Bought outright--System account Held under repurchase agreements 2,644 +1,015 + 1,233 5,298 Federal Agency obligations-- Bought outright 5,162 + 2,526 5,162 Held under repurchase agreements 391 + 111 121 662 Acceptances- Bought outright 746 + 27 + 657 736 Held under repurchase agreements 213 - 43 39 274 Loans-- Total member bank borrowing 122 + 104 - 2,968 729 Includes seasonal borrowing of: 8 104 9 Other borrowing Float 2,145 + 394 - 93 1,502 Other F.R. assets 2,693 - 654 + 1, ,814 3,119 Total Reserve Bank credit 98,446 + 998 + 8 ,3 219 101,825 Gold Stock 11,620 —— + 53 11,620 Special Drawing Rights certif. acct. 400 —— — — 400 Treasury currency outstanding 9,462 + 6 + 626 9,468 119,929 +1 ,005 + 8, ,899 123,313 Currency in circulation -k-k 79,227 + 110 + 6 3, 268 79,440 Treasury cash holdings y'oV 300 —— + 22 300 Treasury deposits with F.R. Banks 7,947 - 472 + 4; ,919 7,017 Foreign deposits with F.R. Banks 258 - 19 - 85 253 Other deposits with F.R. Banks J±! 697 + 225 - 31 694 Other F.R. liabilities and capital 3,278 + 153 + 60 3,342 91,707 - 3 + 11 ,.1 54 91,046 Member bank reserves: With Federal Reserve Banks 28,222 +1 ,008 - 2 3 ,255 32,267 Currency and coin 6,491 - 813 + 410 6,491 Total reserves held 34,713 + 195 - 1., 903 38,758 Required reserves 34,647 + 114 - 1; ,840 34,647 Excess reserves 66 + 81 - 63 4,111 NOTE: A net of $81 million of surplus reserves were eligible to be carried forward from the week ended May 14, into the week ending May 21. On May 21, 1975, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $38,766 million, an increase of $655 million for the week. 1/ Met of $396 million, daily average, matched sale-purchase transactions outstanding during the statement week. 2/ Excludes $385 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $138 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 4/ Includes $17 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 (Boston District). Digitized *fo*r FERsAtSiEmRat ed (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 Wednesday Change since May 21, May 14, May 22, A S S E TS 1975 ** 1975 1974 Gold certificate account 11,620 — • + 160 Special Drawing Rights certif. acct. * 400 -- -- Cash ((11 ,492) 360 -- + 137 Loans 729 + 708 - 2,251 Acceptances--Bought outright 736 + 8 + 642 Held under repurchase agreements 274 + 58 + 111 Federal Agency obligations—Bought outright 5,162 -- + 2,526 Held under repurchase agreements 662 + 382 + 156 U.S. Government securities: Bought outright--Bills 37,892 - 150 + 2,820 Certificates -- -- -- Notes 42,038 - 500 + 2,673 Bonds 4.413 + 500 + 1,646 Total bought outright 11//22// 84,343 - 150 + 7,139 Held under repurchase agreements 5.298 + 3 ,877 + 4.171 Total U.S. Government securities 89.641 + 3 ,727 +11.310 Total loans and securities 97,204 4- 4, 883 +12,494 Cash items in process of collection ((11 ,,773366)) 6,720 - 1 ,115 - 813 Bank premises 281 -- + 46 Operating Equipment 2 -- + 2 Other assets 3/ 2.836 - 298 + 2,125 TOTAL ASSETS (3 ,228) 119.423 + 3 ,470 +14,151 L I A B I L I T I ES Federal Reserve notes (1 ,492) 70,632 + 21 + 5,978 Deposits: Member bank-reserves account 32,267 + 3 ,307 + 5,653 U.S. Treasury--general account 7,017 + 146 + 2,685 Foreign 253 — - 12 Other 4/ 694 + 212 - 67 Total deposits 40,231 + 3 ,665 + 8,259 Deferred availability cash items (1 ,736) 5,218 - 371 - 184 Other liabilities and accrued dividends 1,205 + 49 + 40 TOTAL LIABILITIES (3 ,228) 117,286 + 3 ,364 +14,093 C A P I T AL A C C O U N TS Capital paid in 908 - 1 + 35 Surplus 897 -- + 53 Other capital accounts 332 + 107 - 30 Contingent liability on acceptances purchased, for foreign correspondents -- -- - 716 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $385 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2J Includes $138 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3_/ Includes assets denominated in foreign currencies. 4/ Includes $17 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 (Boston District). MATURITY DISTRIBUTION: OF LOANS AND SECURITIES. MAY 21. 1975 (Acceptances and securities held under repurchase agreements are classified as U.S. Government Federal Agency Loans Accept- securities obligations ances Holdings Weekly Holdings Weekly changes changes Within 15 days 724 351 10,615 - 531 770 + 419 16 days to 90 days 5 390 20,005 + 2,455 110 - 37 91 days to 1 year -- 269 20,514 - 1,383 607 -- OOvveerr 11 yyeeaarr ttoo 55 yyeeaarrss 28,463 + 6,691 2,567 OOvveerr 55 yyeeaarrss ttoo 1100 yyeeaarrss — — 6,957 - 3,802 1,209 -- OOvveerr 1100 yyeeaarrss 3.087 + 297 561 TToottaall 729 1,010 89,641 + 3,727 5,824 + 382 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 MAY 21, 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 11,620 530 3,351 668 888 981 611 1,768 449 206 419 422 1,327 Special Drawing Rights certif. acct 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,492 53 414 39 78 119 248 97 27 18 41 114 244 Other cash 360 25 24 13 44 33 47 42 30 16 30 15 41 Loans 729 9 685 4 1 1 5 4 * 16 4 Acceptances: Bought outright 736 736 Held under repurchase agreements 274 274 Federal Agency obligations- Bought outright 5,162 240 1,239 303 408 417 269 777 197 113 211 264 724 Held under repurchase agreements 662 662 U.S. Government securities: Bought outright- Bills 37,892 1,762 9,094 2,225 2,994 3,061 1,978 5,708 1,443 828 1,549 1,937 5,313 Certificates Notes 42,038 1,954 10,088 2,469 3,321 3,397 2,195 6,332 1,602 918 1,718 2,149 5,895 Bonds 4.413 205 1.059 259 349 357 230 665 168 96 180 226 619 Total bought outright 1/2/ 84,343 3,921 20,241 4,953 6,664 6,815 4,403 12,705 3,213 1,842 3,447 4,312 11,827 Held under repurchase agreements 5.298 5.298 Total U.S. Government securities 89.641 3.921 25.539 4.953 6.664 6.815 4.403 12.705 3.213 1.842 3.447 4.312 11.827 Total loans and securities 97,204 4,170 29,135 5,260 7,073 7,233 4,677 13,486 3,410 1,971 3,662 4,576 12,551 Cash items in process of collection 8,456 370 1,162 221 528 1,179 840 1,330 444 411 787 213 971 Bank premises 281 75 12 40 26 15 14 16 13 33 17 12 8 Operating Equipment 2 2 Other assets £/ 2,836 36 1,724 52 62 76 59 114 30 20 32 488 143 Interdistrict settlement account -0- + 224 -4.303 + 293 + 540 + 66 + 267 +1.469 + 383 + 191 + 167 + 19 + 684 TOTAL ASSETS 122.651 5.506 31.614 6.609 9.272 9.738 6.785 18.392 4.801 2.873 5.170 5.873 16.018 1/ Excludes $385 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. ** Estimated (Boston District). 2/ Includes $138 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. * Less than $500,000. 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 Hay 21, 1975 New Phila- Cleve- Rich- St. Minne- Kansas San Total Boston York delphia land mond AAttllaannttaa Chicago Louis apolis City Dallas Fran- * cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 72,124 3,483 18,125 4,384 6 ,254 6,538 3, 616 11,431 3,022 1,486 2,647 2 ,705 8,433 Deposits: Member bank reserves 32,267 1,089 9,844 1,063 1 ,890 1,365 1,8 33 4,684 875 587 1,191 1 ,972 5,874 U. S. Treasurer—general account 7,017 426 1,044 784 415 561 514 813 466 336 501 541 616 Foreign 253 9 1/ 93 10 19 12 17 33 7 5 9 12 27 Other 2/ 694 1 605 3 wee 13 26 3 2 2 2 9 28 Total deposits 40,231 1,525 11,586 1,860 2 ,324 1,951 2, 390 5,533 1,350 930 1,703 2 ,534 6,545 Deferred availability cash items 6,954 366 1,009 203 430 1,041 565 949 319 382 690 468 532 Other liabilities and accrued dividends 1,205 49 346 60 80 81 58 149 37 24 41 50 230 TOTAL LIABILITIES 120,514 5,423 31,066 6,507 9 ,088 9,611 6, 629 18,062 4,728 2,822 5,081 5 ,757 15,740 CAPITAL ACCOUNTS Capital paid in 908 35 231 42 80 51 70 141 31 22 39 50 116 Surplus 897 35 235 42 78 50 69 138 30 22 37 49 112 Other capital accounts 332 13 82 18 26 26 17 51 12 7 13 17 50 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 122,651 5,506 31,614 6,609 9 ,272 9,738 6, 785 18,392 4,801 2,873 5,170 5 ,873 16,018 Contingent liability on acceptances purchased for foreign correspondents FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 75,363 3,568 19,188 4,472 6,450 6,728 4,029 11,652 3, 195 1,528 2,763 2,850 8,940 Collateral for F. R. notes: Gold certificate account 7,409 530 3,351 668 275 615 611 439 292 206 mm mm 422 • • Special Drawing Right Certif. Acct 138 23 93 — — — — — — 22 * ~ mm mm «• • — — — mm mm Acceptances -— — — —- — — — — - — — — — — — — • — • «•» — — m* • U.S. Govt, securities 70,430 3,330 15,950 4.150 6.210 6.180 4,150 11.400 2, 950 1.410 2,900 2,500 9,300 Total collateral 77,977 3,883 19,394 4,818 6,485 6,795 4.783 11,839 3, 242 1.616 2.900 2.922 9.300 1/ After deducting $160 million participations of other Federal Reserve Banks. 2/ Includes $17 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 (Boston District). Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis