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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release April 11, 1974 The average of daily figures for total reserves of member banks declined $341 million in. the latest statement week to a level of $35,179 million. Required and excess reserves as well as member bank borrowings from Federal Reserve Banks all declined in the latest week. A decline in Treasury deposits at Federal Reserve Banks and an increase in float were the major factors providing reserves in the latest week. An increase in currency in circulation absorbed & sizable amount of reserves. In addition, System Open Market Operations absorbed $785 million of reserves, on a weekly average b.?.r:is, primarily through repurchase agreements. Member Dank reserves, Reserve Bank credit, and related items Reserve Ihnk credit: U.S. Government securities-Bought outright--System account Held under repurchase af*rcc-nents Federal Agency oblifvitions-Bought outright Held under repurchase agreements Acceptances-Bought outright Held under repurchase agreements Loans-Total member bank borrowing Includes seasonal borrowing of: Other borrowing Float Other F.R. assets Total Reserve Bank credit Gold stock Special Drawing Rights certif. acct. Treasury currency outstanding Currency in circulation Treasury cash holdings Treasury deposits with F.R. Banks Foreign deposits with F.R. ftsnks Other deposits with F.R. Banks 3 Other F.R. liabilities and capital Averages of daily Jfigures Week ended Chan ge from week ended Wednesday, April 10, Apr il 3", " April 11, April 10, 1974 * 1974 * 1974 1973 (In millions of dollars) 78,362 176 + 2 - 558 +5,052 + 101 1/78,355 — 2,123 -- 14 99 74 25 1 + - 131 + 1,195 - 308 7 - + 304 41 1,287 + 374 + 46 - 673 -. -+ 16 - 657 - 145 + 138 +5,681 +1,157 2,637 1,118 85,593 11,567 41 2,208 1,106 85,283 11,567 400 8,800 106,050 72,007 326 1,354 300 723 2,854 77,564 + 847 2,123 25 — 2 73 19 -42 -- 400 646 + 363 +7,201 +6,101 8,801 106,361 72,622 - 14 - 535 - 72 + 19 - 251 - 206 87 313 -2,084 + 21 + 74 + 215 +4,241 1,277 + 339 748 2,917 78,216 Mr bcr bank reserves: „ 28,486 451 +2,960 With Federal Reserve Banks 28,144 + 576 + 110 6,635 Currency mid coin 6,635 35,179 +3,422 34,837 Total reserves held 2/ - 341 34,943 Required reserves +3,095 34,943 - 271 Excess reserves 2/ 106 NOTE: A net of $143 million of surplus reserves were eligible to be carried forward from the week ended April 3, into the week ending April 10. On April 10, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $26,875 millien, an increase of $213 million for the week. 1/ Includes $146 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Adjusted to include $58 million of certain reserve deficiencies on which penalties can be waived for a transition period in connection with bank adaptation to Regulation J as amended effective November 9, 1972. 3/ Includes $31 million of certain deposits of domestic nonmember banks and foreignowned 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. k Estimated (Boston and Dallas Districts). H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Apr LI 10,** April 3, April 11, 1974 1974 1973 A S S E T S Gold certificate account 11,460 +1,157 Special Drawing Rights certif. accts. 400 — — Cash 258 ( 819) 81 9 Loans 1,287 + 172 + 46 Acceptances—Bought outright 73 2 1 Held under repurchase agreements Federal Agency obligations—Bought outright 2,123 851 Held under repurchase agreements U.S. Government securities: Bought outright--Bills 36,395 +3,657 Certificates Other Notes 38,956 +2,117 — Bonds 3,004 - 497 — Total bought outright 78,355 5 +5,277 Held under repurchase agreements -_• -Total U.S. Government securities 78,355 5 +5,277 Total loans and securities 81,838 +6,172 + 166 Cash items in process of collection (1,536) 8,006 - 586 - 251 Bank premises 230 + 31 ..Other assets 7j 888 + 65 + 77 TOTAL ASSETS (2,355) 103,080 29 +6,770 L I A B I L I T I E S Federal Reserve notes Deposits: Member bank-reserves account U. S. Treasurer--general account Foreign Other 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts ( 819) 64,286 28,064 1,277 339 (1,536) (2,355) 748 30,428 5,449 1,034 101,197 872 844 167 + 821 + 260 -1,149 + 75 -- 814 - 196 + 63 - 126 -. — Y 97 +5,733 +2,911 -2,256 + 72 + 45 + 772 - 199 + 318 +6,624 + + + 63 51 32 Contingent liability on acceptances purchased for foreign correspondents 597 9 4. 335 * Figures in parentheses are the eliminations made in the consolidating process. \_l Includes $146 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 3/ Includes $31 million of certain deposits of domestic nonmember banks and foreignowned 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 and Dallas District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 10, 1974 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U.S. Government Federal Agency Loans securities obligations AcceptHoldings Weekly Holdings Weekly ances changes Changes Within 15 days 1,260 19 5,547 -292 48 +48 16 days to 90 days 27 51 19,229 -462 87 -48 91 days to 1 year 21,577 3 +749 275 — — Over 1 year to 5 years 22,344 821 --._ — Over 5 years to 10 years 7,836 608 --— — Over 10 years 1,822 — ^— -284 — Total 1,287 73 78,355 - 5 2,123 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 10, 1974 Total Boston* New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas* San Francisco (In millions of dollars) A S S E T S Gold certificate account Special Drawing Rights certif. acct. F.R. notes of other banks Other cash Loans Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations-Bought outright Held under repurchase agreements U.S. Government securities: Bought outright-Bills Certificates: Other Notes Bonds Total bought outright Held under repurchase agreements Total U.S. Government securities Total loans and securities 366 23 3,013 93 766 23 840 33 597 36 342 22 1,383 70 320 15 211 7 338 15 543 14 2,741 49 819 258 43 18 249 23 22 2 32 32 73 25 134 38 35 27 17 17 14 8 29 28 73 14 98 26 1,287 72 270 105 166 122 162 152 74 6 102 29 27 — — 73 -- --- — -- — -- — -- 99 543 118 73 — 2,123 — 36,395 -- 1/ Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 11,460 400 — — 157 -- — -- — 1,703 9,310 2,015 2,685 2,717 -- -2,015 — — — — 343 79 47 83 90 289 — -- -- — «— — 1,347 803 1,428 1 ,538 -- -8^>g __ ._ 5,877 -- -- 2,875 2,907 '224 2,156 6,291 _ Mil 5,782 5,848 4,337 12,653 2,901 -- -- -- -- -" 4,338 4,561 5,782 6,105 5,848 6,128 4,337 4,616 12,653 13,148 2,901 3,054 L .728 1,357 10 216 362 13 59 453 27 59 1,140 14 68 1,022 15 48 1,334 16 129 25,891 5,808 7,581 8,081 6,237 16,142 1 66 999 20,044 4,338 -- -- -- -- 78,355 81,838 3,667 3,838 20,044 20,930 9,542 230 375 49 4,750 117 --- _- 76Q ^ — — 2,157 --. 1,823 141 3,667 105,435 158 — 38,956 3 004 78,355 ftfift — -- 9,965 -166 -- Estimated (Boston and Dallas Districts). — 3,074 3 ,311 -_ 5 »286 10,672 -- --» 1 ,781 3,074 3,259 3 .311 3 ,430 10.672 10,988 423 14 29 430 35 22 760 17 33 735 12 47 1,151 8 140 3,889 2 ,508 4,479 4 ,868 15,201 17 Includes $146 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. .2/ Includes assets denominated in foreign currencies. * 1 ,728 _iiili_ 1 iiii_ 4,957 2J5 , H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 10, 1974 * Total Boston New York Phila- Clevedelphia land Richmond St. Atlanta Chicago Louis Minneapolis Kansas City * San Dallas Francisco (In millions of dollars) L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for foreign correspondents 65,105 3,193 16,049 4,116 5,186 5,791 3,438 10,761 2,637 1,212 2,492 2,446 7,784 28,064 1,277 964 104 12 3 7,162 1,090 1,655 1,153 1,816 3,832 6,106 600 106 27 2 145 17 31 87 22 17 127 47 20 57 12 9 81 17 14 101 38 36 1,083 8,101 1,226 1,790 1,346 1,942 4,026 1,261 1,690 6,281 351 996 320 366 758 661 897 791 35 7 1 834 392 1,578 109 15 12 734 101 10 3 848 304 1,183 224 610 592 738 339 748 30,428 6,985 1/115 1,034 103,552 48 254 54 75 79 59 166 37 25 38 42 157 4,675 25,400 5,716 7,417 7,974 6,100 15,850 3,826 2,463 4,401 4,770 14,960 872 844 167 35 34 6 227 215 49 42 42 8 77 74 13 48 47 12 65 62 10 135 132 25 28 29 6 21 20 4 36 35 7 47 46 5 111 108 22 L05,435 4,750 25,891 5,80S 7,581 8,081 6,237 16,142 39889 2,506 4,479 697 29 2/178 34 61 39 51 IQg la1 FEDERAL RESERVE AGENTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 67,543 3,313 2,250 100 66,840 69,090 -1*230 3,330 16,846 — 17,050 17,050 4,180 5,315 5,965 450 350 595 3,800 4,250 5.200 5,550 5.390 5,985 3,660 — 3r9QQ 3,900 23— 4-^866 _15,201 3£L 89 ACCOUNTS 10,955 2,747 700 50 10r600 11,300 2r7^S 2,785 1,261 — 1J7ftO 1,280 2,615 — 9 7QO 2,700 2,583 8,103 5 2,655 2,660 8.300 8,300 JL/ After deducting $ 224 million participations of other Federal Reserve Banks. 2/ 3/ After deducting $ 519 million participations of other Federal Reserve Banks. Includes $31 million of certain deposits of domestic nonmember banks and foreign-owned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by nonmember institution s in the Federal Reserve System's program of credit restraint. * Estimated (Boston and Dallas Districts).
@FedFRASER