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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release April 25, 1974 The average of daily figures for total reserves of member banks declined $199 million in the latest statement week to a level of $36,109 million. Required reserves and member bank borrowings from Federal Reserve Banks increased while excess reserves declined. A decline in float and an increase in Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. Partially offsetting these reserve drains were declines in currency in circulation and foreign deposits with Federal Reserve Banks. System Open Market Operations provided $158 million reserves net, on a weekly average basis, through outright purchases of Treasury bills and Federal Agency obligations and through repurchase agreements. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securitiesBought outright—System account Held under repurchase agreements Federal Agency obiigations-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. Banks Other deposits with F.R. Banks 3/ Other F.R„ liabilities and capital Averages of daily figures Week ended Change from week ended Wednesday, Apr, 24, * Apr. 17, Apr. 25, Apr. 24, * 1974 1974 1973 1974 (In millions of dollars) 78,726 603 198 247 +5,091 47 2,270 90 147 15 + 127 1/78,691 451 998 7 2,242 105 5 70 4 72 81 118 1,928 54 111 7 282 45 2,095 57 2,502 1,190 87,514 11,567 400 8,812 108,293 72,310 288 1,666 269 703 2,997 78,232 198 56 127 313 51 +6,124 +1,157 2,692 1,226 87,701 11,567 400 8,821 108,489 72,320 287 2,425 279 700 3,021 79,032 136 306 15 367 170 8 13 129 + 364 +7,644 +6,014 - 128 -1,975 + 11 + 40 + 373 +4,333 Member bank reserves: With Federal Reserve Banks 30,061 + 265 +3,310 29,457 Currency and coin 5,990 + 511 - 464 Total reserves held 2/ - 199 36,109 +3,707 ! 35,505 Required reserves 35,919 5 +3,855 35,919 + Excess reserves 2/ 190 - 148 - 414 - 204 NOTE: A net of $173 million of surplus reserves were eligible to be carried forward from the week ended April 17, into the week ending April 24. On April 24, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,158 million, an increase of $5 million for the week. 1/ Includes $182 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 $32 million of certain deposits of domestic nonmember banks and foreignowned banking institutions held with member banks and redeoosited 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 (Cleveland District). CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since April 24,** Apr il 17, Api•il 2 5 , 1Q7ZL icm 1974 A S S E T S 11,460 +1 157 Gold certificate account 400 -* -Special Drawing Rights certif. accts. 6 241 - 79 (1,129) Cash + 810 2,095 + 573 Loans + 1 5 81 Acceptances — Bought outright + 99 118 + 87 Held under repurchase agreements 2,242 + 119 + 970 ht Federal Agency obligations — Bought outright 105 + 62 + 10 Held under repurchase agreements U.S. Government securities: 4-3,664 40 36,559 Bought outright—Bills Certificates Other 4-2,152 4- 172 39,12.8 Notes - 567 3,004. Bonds 4-5,249 + 132~ Total bought outright 78,691 Held under repurchase agreements - 133 19 451 4-5,116 4- 113 Total U.S. Government securities 79,142 4-6,755 Total loans and securities 4-1,208 83,783 Ccsh items in process of collection -1,139 -1,393 (1,652) 8,248 4- 32 Bank premises 1 231 4- 60 Other assets _2/ 56 995 TOTAL ASSETS 248 4-6,786 105,358 (2,781) H.4.1(a) tiAiitnns Federal Reserve notes Deposits: Member bank-reserves account U. S. Treasurer—general account Foreign Other V Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (1,129) (1,652) (2,781) 63,920 29,377 2,425 279 700 32 ,781 5 ,636 1 .078 103,415 C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts 872 844 227 Contingent liability on acceptances purchased for foreign correspondents 702 - 434 - 120 4-1,523 89 4- 30 +1,344 -1,283 4- 29 344 96 4-5,397 4-2,873 -1,271 4- 39 4- 18 4-1 ,659 - 659 + 349 +6,746 + + - 59 51 70 + 351 17 Includes $182 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 3/ Includes $32 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 institutions in the Federal ke.serve System's program of credit restraint. ** Estimated (Cleveland District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 24, 1974 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Federal Agency U.S. Government obligations securities AcceptLoans Weekly Holdings Weekly Holdings ances changes Changes Within 15 days 2,06L - 16 + 14 129 5,443 105 16 days to 90 days 34 19,462 -412 67 115 + -28 91 days to 1 year 22,063 +369 247 - 28 3 Over 1 year to 5 years 22,516 +172 + 76 897 Over 5 years to 10 years 7,836 656 + 48 ..Over 10 years — 1,822 327 + 43 -Total 79,142 +113 2,347 +181 2 Q95 199 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 24, 1974 H. 4.1(b) Total Boston New York Philadelphia *Cleveland St. Richmond Atlanta 0n Chicago Louis Minneapolis Kansas City San Dallas Francisco millions of dollars) A S S E T S Gold certificate account Special Drawing Rights certif. acct. 11,460 400 569 23 2,870 589 23 800 33 942 36 555 22 2,004 70 452 15 192 7 301 15 815 14 1,371 93 49 F.R, notes of other banks Other cash 1,129 241 61 16 288 19 45 3 48 32 110 25 176 36 70 25 32 16 17 7 34 27 102 12 146 23 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 1/ Held under repurchase agreements Total U.S. Government securities Total loans and securities 2,095 61 591 107 239 213 222 174 53 28 120 88 199 81 118 --- 81 118 — — — -- —• — — — — — — — — -- — — — — 2,242 105 165 167 124 362 83 50 88 95 -- 574 105 124 105 — — — -- — — -- 9,352 2,024 2,729 2,024 1,354 807 1,434 1,545 4,980 Cash items in process of collection Bank premises Other assets TOTAL ASSETS 36,559 — 39,128 3,004 78,691 451— 79,142 83,783 1,710 -1,831 -10,009 — -2,167 -2,697 -2,887 -2,920 141 769 166 222 224 3,682 20,130 451 20,581 22,050 4,357 5,806 5,873 -3,682 3,848 5,903 — 6,319 485 12,707 _1,449 111 2,914 -- -- 863 66 1,535 1,736 3,087 118 —. 1,653 127 3,325 305 — 5,329 £OQ 10,718 -- — — -- 4,357 4,588 5,806 6,210 5,873 6,253 4,356 4,702 12,707 13,243 2,914 3,050 1,,736 1 ,814 3,087 3,295 3,325 3,508 10,718 11,222 1,000 952 15 57 1,261 463 14 33 362 35 23 825 17 35 698 12 39 1,299 16 145 6,515 16,834 4,075 2 ,457 4,549 5,200 14,303 -- — ^ -- 373 49 45 1,623 231 995 10 239 486 14 55 558 27 66 14 73 108,139 4,984 27,192 5,803 7,774 8,453 9,900 -- 2,166 166 4,356 -- — -- — — -- 1_/ Includes $182 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2y Includes assets denominated in foreign currencies. * Estimated (Cleveland District). 8 185 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 24, 1974 New Total Boston 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, jie po s it s 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 forei-gn correspondents 65,049 3,205 16,075 4,119 5,195 5,786 3,401 10.746 2,629 29,377 2,425 1,128 7,994 1,049 1,807 1,452 2,020 4,453 144 10 5 604 110 12 12 116 22 1 169 14 24 216 18 17 150 39 14 797 205 9 2 1,183 1,946 1,659 2,271 4,656 1,013 350 390 821 642 966 331 279 700 32,781 7,288 1,287 366 1/ 93 562 9,253 1,065 2,479 2,462 7,737 705 72 6 3 786 386 1,152 107 10 6 1,275 676 1,856 186 14 26 2,082 511 4,964 346 32 28 5,370 784 1,078 106,196 48 291 56 78 76 60 164 37 4,906 26,684 5,708 7,609 8,342 6,374 16,532 4,010 24 2,411 39 4,469 43 5,098 162 14,053 872 844 227 35 34 9 227 215 66 42 42 11 77 74 14 48 47 16 65 62 14 135 132 35 28 29 8 21 20 5 36 35 9 47 46 9 111 108 31 108,139 4.984 27,192 5,803 7.774 8.453 6.515 16.834 4.075 2.457 4.549 5.200 14.303 702 29 2/179 34 62 39 51 110 24 16 29 39 90 1,271 2,630 2,621 8,155 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral \J 68,050 3,344 2,150 100 67,195 69,345 3,280 3,380 16,938 17,050 17,050 4,192 5,364 6,023 350 350 595 3,900 5,200 4,250 5,550 5,500 6,095 3,684 3,900 3,900 11,046 2,782 700 50 10,600 11,300 2,785 2,835 5 1,300 1,300 2,700 2,700 2,680 2,685 8,300 8,300 After deducting $186 million participations of other Federal Reserve Banks. 2/ After deducting $523 million participations of other Federal Reserve Banks. 3/ Includes $32 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 institutions in the Federal Reserve System's program of credit restraint. * Estimated (Cleveland District).
@FedFRASER