H.4.1 Factors Affecting Reserve Balances of Depository Institutions

"pOfGOW." FEDERAL RESERVE & Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release September 25, 1975 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Sept. 24, Se 25, and related items 1975 ?974 Se?§>524' Reserve Bank credit: (In millions of dollars) 2/3/ U.S. Government securities-- Bought outright—System account 82,978 +1 ,907 +2,225 83,261 Held under repurchase agreements 1,956 +1 ,173 +1,696 4,213 Federal Agency obligations-- Bought outright 5,395 mm mm +1,532 5,395 Held under repurchase agreements 201 + 164 + 95 420 Acceptances-- Bought outright 686 + 32 + 400 682 Held under repurchase agreements 175 + 123 + 73 192 Loans-- Total member bank borrowing 395 + 68 -3,136 1,402 Includes seasonal borrowing of: 64 + 3 « 77 67 Other borrowing Float 2,029 + 150 - 142 2,226 Other F.R. assets 3.062 - 35 +1.649 3.048 Total Reserve Bank credit 96,876 4-3, 582 +4,390 100,839 Gold Stock 11,599 -- + 32 11,599 Special Drawing Rights certif. acct. 500 + 100 500 Treasury currency outstanding 9.811 + 22 + 795 9.819 118,786 +3 ,603 +5,318 122,757 Currency in circulation * 81,682 - 468 +6,792 81,680 Treasury cash holdings * 370 - - + 66 370 Treasury deposits with F.R. Banks 5,032 +3 ,851 +1,884 7,249 Foreign deposits with F.R. Banks 285 - 41 - 327 234 Other deposits with F.R. Banks 4/ 717 - 229 - 187 660 Other F.R. liabilities and capiEal 3.256 + 187 - 194 3.381 Member bank reserves: 91,342 +3 ;, 301 +8,034 93,574 With Federal Reserve Banks 27,444 + 303 -2,717 29,183 Currency and coin 7.179 - 260 + 394 7.179 Total reserves held 34,623 + 43 -2,323 36,362 Required reserves 34,58b + 293 -2,286 34,586 Excess reserves 37 - 250 - 37 1,776 NOTE: A net of $108 million of surplus reserves were eligible to be carried forward from the week ended September 17, into the week ending September 24, On September 24, 1975, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $42,035 million, a decrease of $906 million for the week. y Net of $872 million, daily average, matched sale-purchase transactions outstanding during the statement week. 27 Excludes $1,245 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes $193 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 4/ Includes $5 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 Digitized for FRASEtRh e Federal Reserve System's program of credit restraint. http://fras*e rE.sstltoiumisafetde.odr g(/ Treasury's Figures). Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS Wednesday Change since September September September 24, 1975 17, 1975 25, 1974 A S S E TS Gold certificate account 11,599 — mm + 139 Special Drawing Rights certif. acct- * 500 — — + 100 Cash (2,036) 390 + 18 + 162 Loans 1,402 +1,066 -3,790 Acceptances--Bought outright 682 + 31 + 382 Held under repurchase agreements 192 + 192 + 2 Federal Agency ob1igations--Bought outright 5,395 — +1,384 Held under repurchase agreements 420 + 420 + 197 U.S. Government securities: Bought outright--Bills 34,757 +3,083 -2,597 Certificates Notes 43,400 + 243 +3,681 Bonds 5,104 + 124 +2,007 Total bought outright 1/2/ 83,261 +3,450 +3,091 Held under repurchase agreements ~ 4,213 44,213 +3,730 Total U.S. Government securities 87,474 +7,663 +6,821 Total loans and securities 95,565 +9,372 44,996 Cash items in process of collection (1,685) 7,209 -1,592 -2,158 Bank premises 305 1 + 57 Operating Equipment 4 «- — + 4 Other assets 3/ 2,739 26 +1,584 TOTAL ASSETS (3,721) 118,311 +7,771 +4,884 L I A B I L I T I ES Federal Reserve notes (2,036) 72,621 - 472 +6,242 Deposits: Member bank-reserves account 29,183 +4,013 -4,073 U.S. Treasury-general account 7,249 +4,828 +3,902 Foreign 234 8 - 377 660 - 194 - 51 Other 4/ Total deposits 37,326 +8,639 - 599 Deferred availability cash Items (1,685) 4,983 - 717 - 663 Other liabilities and accrued dividends 1,188 + 214 - 101 TOTAL LIABILITIES (3,721) 116,118 +7,664 +4,879 C A P I T AL A C C O U N TS Capital paid in 914 2 + 28 Surplus 897 —" + 53 Other capital accounts 382 + 109 76 Contingent liability on acceptances purchased, for foreign correspondents -1,388 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $1,245 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $193 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $5 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. SEPTEMBER 24. 1975 (Acceptances and securities held under repurchase agreements are classified as IBttLUllUJt wjuuisjuw U.S. Government Federal Agency LLooaannss Accept- securities obligations ances Holdings Weekly Holdings Weekly changes changes Within 15 days 1,385 308 8,104 44,172 +420 16 days to 90 days 17 309 17,569 +2,165 201 91 days to 1 year 257 21,864 + 959 590 Over 1 year to 5 years 30,377 + 248 2,788 + 30 Over 5 years to 10 years 5,893 + 46 1,253 Digitized for FRA O S ve E r R 10 years 3,667 + 73 553 - 30 http://fraser.stlouisf T e o d t .o a r l g / 1,402 874 87,474 +7,663 5,815 4420 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 24, 1975 New Phila- Cleve- Rich- St. Minne- Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis Citv Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 11,599 530 3,330 668 888 981 611 1,768 449 206 419 422 1,327 Special Drawing Rights certif. acct. 500 24 124 31 43 45 28 79 20 10 18 19 59 F.R. notes of other banks 2,036 161 387 107 102 200 281 90 42 50 49 85 482 Other cash 390 23 35 12 49 40 53 37 28 17 31 18 47 Loans 1,402 125 663 94 54 70 130 92 41 4 25 21 83 Acceptances: Bought outright 682 — — 682 -- — - — -- - — — - — -- Held under repurchase agreements 192 — — 192 —— — —— —— — — —— —— — — — Federal Agency obligations- Bought outright 5,395 251 1,295 317 426 436 282 813 205 118 220 276 756 Held under repurchase agreements 420 — 420 — - - — — — — — — — — — —' — — -- U.S. Government securities: Bought outright- Bills 34,757 1,616 8,341 2,041 2,746 2,809 1,815 5,236 1,324 759 1,420 1,777 4,873 Certificates — — —— — — — — — — — — — — — — — — —' —— Notes 43,400 2,018 10,415 2,549 3,429 3,507 2,266 6,537 1,653 948 1,774 2,218 6,086 Bonds 5,104 237 1,225 300 403 412 266 769 195 111 209 261 716 Total bought outright 1/2/ 83,261 3,871 19,981 4,890 6,578 6,728 4,347 12,542 3,172 1,818 3,403 4,256 11,675 Held under repurchase agreements 4,213 •» 4,213 — — mm mm —— — — —— «• * —— Total U.S. Government securities 87,474 3,871 24,194 4,890 6,578 6,728 4.347 12,542 3,172 1,818 3,403 4,256 11,675 Total loans and securities 95,565 4,247 27,446 5,301 7,058 7,234 4,759 13,447 3,418 1,940 3,648 4,553 12,514 Cash items in process of collection 8,894 362 1,083 319 519 1,199 746 1,159 518 461 899 685 944 Bank premises 305 83 20 47 26 18 14 16 13 33 16 12 7 Operating Equipment 4 2 — -- — -- -- — — - - 2 -- Other assets 3/ 2,739 57 1,731 75 96 102 84 175 50 30 53 60 226 Interdistrict settlement account -0- + 250 -3,180 - 248 + 297 - 99 + 21 +1,108 + 371 + 210 + 182 - 178 +1,266 TOTAL 122.032 5.737 30.978 5,312 9 078 9,720 6.597 17,879 4.909 2,957 5,315 5,678 16.872 1/ Excludes $1245 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $193 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 SEPTEMBER 24, 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 74,657 3,694 18,682 4,425 6 475 6,787 3,742 11,911 3,131 1,511 2,684 2,835 8,780 Deposits: Member bank reserves 29,183 1,114 7,686 948 1,281 1,383 1,694 4,207 885 749 1,248 1,762 6,226 U.S. Treasury—general account 7,249 456 2,129 532 619 312 490 407 390 189 465 409 851 Foreign 234 9 :1 / 67 11 20 12 17 35 8 5 10 12 28 Other 2/ 660 560 2 — 16 30 16 7 2 1 8 18 Total deposits 37,326 1,579 10,442 1,493 1,920 1,723 2,231 4,665 1,290 945 1,724 2,191 7,123 Deferred availability cash items 6,668 329 921 228 408 997 403 817 376 ' 422 773 482 512 Other liabilities and accured dividends 1,188 49 387 61 83 80 58 149 37 25 41 51 167 TOTA LIABILITIES 119,839 5,651 30,432 6,207 . 8,886 9,587 6,434 17,542 4,834 2,903 5,222 5,559 16,582 CAPITAL ACCOUNTS Capital paid in 914 35 229 42 80 52 72 142 31 24 39 51 117 Surplus 897 35 235 42 78 50 69 138 30 22 37 49 112 Other capital accounts 382 16 82 21 34 31 22 57 14 8 17 19 61 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 122,032 5,737 30,978 6,312 9,078 9,720 6,597 17,879 4,909 2,957 - 5,315 5,678 16,872 Contingent liability on acceptances purchased for foreign correspondents FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 78,613 3,923 19,538 4,550 6,691 7,097 4,296 12,186 3,313 1,575 2,890 2,993 9,561 Collateral for F.R. notes: Gold certificate account 11,596 530 3,329 668 888 980 611 1,768 449 206 418 422 1,327 Special Drawing Rights certif. acct. 302 24 124 -- -- — 28 -- 20 10 18 19 59 Acceptanances U.S. Government securities 69,305 3,400 16,350 4,150 5,910 6,180 4,000 11,400 2,920 1,410 2,500 2,585 8,500 Total collateral bl,20J 3,954 19,803 4,-818 b9m /,lbU 4,63% lJ,ib» 3,389 l,b2b 2,93 b 3,026 9; 886 1/ After deducting $167 million participations of other Federal Reserve Banks. 2/ Includes $5 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. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis