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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release April 5, 1973 The average of daily figures for total reserves of member banks increased $943 million in the latest statement week to $32,602 million. Required reserves and excess reserves increased while member bank borrowings at Federal Reserve Banks declined. Increases in currency in circulation and other Federal Reserve liabilities and capital were the major factors absorbing reserves in the latest statement week. Offsetting these reserve drains was a decline in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations provided $998 million reserves net, on a weekly average basis through outright purchases of Treasury bills and repurchase agreements. Member bank borrowings averaged $1,755 million and exceeded excess reserves by $1,248 million compared to $1,943 million in *:he previous week. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securities-Bought outright--System account Held under repurchase agreements Federal Agency obligations-Bought outright Held under repurchase agreements Acceptances-Bought outright Held under repurchase agreements LoansMember bank borrowings Other 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 Other F.R. liabilities and capital Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held 2/ Required reserves Excess reserves 2/ Averages of daily f igures Week ended Chang e from week ended Wednesday, April 4, * March 28, 1 April 5, April 4, * 1973 1973 | 1972 1973 (In mill ions of dollars) 73,124 764 + + __ 28 1,280 55 76 55 515 422 - +3,825 + 200 + + _33 1/73,213 — 470 31 1,280 — 5 75 -- — 1,755 - 258 +1,614 1,082 1,839 + 937 + + + + + + - 64 29 832 --7 840 247 21 508 14 28 103 96 -1,002 + 46 +5,178 + 822 — + 533 +6,532 +4,869 5 +1,877 + 112 + 14 + 309 +7,174 2,879 938 79,467 10,410 400 8,436 98,713 65,802 421 3,596 271 630 2,690 73,410 + + + + + 935 115 943 506 437 + 25,302 5,862 31,336 32,095 - 759 79,884 10,410 400 8,427 99,121 65,377 409 3,117 318 671 2,662 72,553 26,568 _5_JL_862 32,602 32,095 507 NOTE: + + + + 642 468 2 135 133 A net of $29 million of surplus reserves were eligible to be carried forward from the week ended March 28, into the week ending April 4. On April 4, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts"were $31,461 million, a decrease of $659 million for the week. _1/ Includes $69 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Adjusted to include $172 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. The adjustment amounted to $450 million from November 9, through December 27, $279 million from December 28, through March 28, 1973. Estimated (Philadelphia and Cleveland Districts). CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday April 5, April 4, ** March 2 1973 1973 1972 A S S E T S — 10,303 + 828 Gold certificate account — -400 Special Drawing Rights certif. accts. * + 26 345 7 Cash (1,036) 1,082 946 +1,022 Loans -75 7 Acceptances--Bought outright — 69 90 Held under repurchase agreements — + 470 1,280 Federal Agency obligations--Bought outright _.. 59 62 Held under repurchase agreements U. S. Government securities: 32,873 +3,117 + 443 Bought outright—Bills Certificates 36,839 + 543 Notes 3.501 19 + Bonds 73,213 + 443 +3,679 Total bought outright - 879 -1,084 Held under repurchase agreements 73.213 641 +2,800 Total U.S. Government securities 1/ +4,133 75,650 -1,715 Total loans and securities -2,734 8,694 +1,217 Cash items in process of collection (1,820) + 40 + 2 199 Bank premises 13 30 739 Other assets 2/ 96.330 - 516 +2,263 TOTAL ASSETS (2,856) H.4.1(a) LIABILITIES; Federal Reserve notes Deposits: Member bank--reserves account U. S. Treasurer—general account Foreign Other 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 (1,036) (1,820) (2,856) 58,026 25,222 3,596 + 454 -1,424 + 214 271 630 88 79 29,719 5,895 708 94,348 - 1 ,377 - + 313 + 23 -2 ,510 + 143 587 4-2,112 808 793 381 1 70 +4,487 -2,361 +2,384 + 35 4+ + Contingent liability on acceptances purchased for foreign correspondents 285 + 3 + * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $69 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies, fr* Estimated (Philadelphia and Cleveland Districts). 66 8 47 51 53 19 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 4, 1973 (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 Accept obligations securities -ances Loans Holdings Weekly Holdings Weekly Changes changes 4,626 -1,573 Within 15 days 1,071 17 8 60 21,685 16 days to 90 days 11 58 + 795 52 1 + — 13,184 91 days to 1 year + 137 214 — — Over 1 year to 5 years 28,021 568 — -Over 5 years to 10 years 4,119 247 — Over 10 years -1,578 — 191 Total 1,082 73,213 75 641 59 1,230 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON H.4.Ub) ! Boston Total New York Phila-* delphia Cleveland * Richmond Atlanta APRIL 4, 1973 Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of" "dollars) A S S E T S 10,303 400 549 23 2,160 93 726 23 866 33 698 36 541 22 1,882 70 389 15 149 7 523 15 270 14 1,550 49 F.R. notes of other banks Other cash 1,036 345 146 19 217 26 36 10 60 42 81 39 169 38 56 41 20 24 16 6 27 43 53 13 155 44 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 J7 Held under repurchase agreements Total U.S. Government securities Total loans and securities 1,082 47 354 60 78 73 55 155 36 43 71 105 5 75 -- --- 75 -- --- --- --- --- --- --- --- --- --- --- 1,280 -- 59 -- 337 -- 65 -- 94 -- 94 -- 67 -- 205 -- 47 -- 27 -- 52 -- 58 -- 175 -- 32,873 1,518 8,644 1,674 2,409 2,424 1,720 5,263 1,207 702 1 ,333 1,479 4,500 -36,839 3,501 73,213 .73,213" 75,b50 -1,702 162 3,382 -3,382 3,488 -. 9,686 920 19,250 -19,250 20,016 -1,876 178 3,728 -3,728 3,853 -2,699 257 5,365 -5,365 5,537 -2,716 258 5,398 -5,398 5,565 -. 1,928 183 3,831 __ 3,831 3,953 -5,898 560 11,721 -11,721 12,081 -1,353 129 2,689 -2,689 2,772 -786 75 1,563 -~ 1,563 1 5633 -1 ,494 142 ,969 T -,969 T3 ,092 -1,657 158 3,294 -3,294 3,457 -_ 5,044 479 10,023 -10,023 10,203 Cash items in process of collection Bank premises Other assets 2/ 10,514 199 739 37b 31 34 1,839 7 189 570 5 38 492 27 57 1,254 14 57 1,215 15 38 1,455 17 111 470 14 26 417 32 19 617 17 28 607 12 32 1,202 8 110 99,186 4,666 24,547 5,261 7,114 7,744 5,991 15,713 3,730 2,279 4 ,362 4,458 13,321 Gold certificate account Special Drawing Rights certif. acct. TOTAL ASSETS * J7 2/ Estimated (Philadelphia and Cleveland Districts). Includes $69 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 4, 1973 Total Boston New York *Phila- Cleve-* RichAtlanta mond delphia land St. 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 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 59,062 3,048 14,678 3,620 4,653 5,259 3,101 9,847 2,318 1,065 2,324 2,234 6,915 25,222 3,596 271 630 29,719 7,715 926 212 11 1 1,150 352 6,573 695 1/ 71 536 7,875 1,294 933 241 13 15 1,202 307 1,467 1,188 307 314 14 25 21 1 1,807 1,530 788 430 1,638 329 19 8 1,994 723 4,018 223 43 8 4,292 1,146 689 238 9 1 937 382 573 172 6 1 752 400 1,005 365 11 4 1,385 544 1,360 251 15 4 1,630 460 4,852 249 34 30 5,165 889 182 34 708 97,204 4,584 24,029 36 5,165 53 52 6,942 7,630 38 5,856 112 15,397 25 3,662 18 2,235 28 4,281 31 4,355 99 13,068 208 207 103 39 39 18 72 72 28 43 42 29 58 55 22 128 124 64 28 27 13 19 18 7 34 33 14 44 43 16 102 99 52 4,666 24,547 5,261 7,114 7,744 5,991 15,713 3,730 2,279 4.362 14 26 15 20 45 10 6 12 1,091 2,400 808 793 381 99,186 285 33 34 15 12 2/ 74 4.458 13.321 15_ 36 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 61,609 3,237 2,291 280 61.380 63,671 3.010 3,290 15,526 3,684 300 15.850 15,850 3.500 3,800 4,827 5,401 350 501 4.700 4.950 5,050 5,451 1/ After deducting $ 200 million participations of other Federal Reserve Banks, 2/ After deducting $ 211 million participations of other Federal Reserve Banks. 3,289 3.500 3,500 * 10,093 2,429 700 155 9.900 10,600 2r330 2,485 2,348 7,284 5 lf110 1,110 2.450 2,450 2,480 2,485 7f600 7,600 Estimated (Philadelphia and Cleveland Districts).
@FedFRASER