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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release August 1, 1974 The average of daily figures for total reserves of member banks declined $300 million in the latest statement week to a level of $37,203 million. Required reserves and excess reserves declined while member bank borrowing at Federal Reserve Banks increased. A decline in currency in circulation was the major factor providing reserves in the latest statement week. More than offsetting this addition to reserves was an increase in Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital, and a decline in float. In addition, System Open Market Operations absorbed $202 million reserves net, on a weekly average basis, through matched sale-purchase transactions although reserves were provided early in the week through repurchase agreements and outright purchases of Treasury bills. 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 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, July*31, August 1, July 24, July 31, 1974 1974 1974 1973 (In millions of dollars) 1/ 2/ 79,945 383 -630 +248 +4,157 57 78,103 3,586 198 + 8 + 57 +1,969 + 154 3,585 212 130 44 71 159 84 218 3,689 163 48 8 +1,594 + 22 3,588 170 1,748 1 ,434 91 ,325 11 ,567 -365 + 37 -483 - 540 + 156 +7,676 +1,157 2,122 1 ,684 89 ,300 11 ,567 400 8 ,913 112,205 74,055 283 3,214 293 753 3,389 81,987 -476 -386 + 13 4493 + 10 - 4 +118 +245 + 374 +9,207 +6,004 41 + 286 - 114 65 + 486 +6,556 400 8 ,916 110,183 74,123 283 3,822 330 941 3,401 82 ,900 Member bank reserves: -722 30,217 +2,650 27 ,283 With Federal Reserve Banks 4422 6,986 6 ,986 + 614 Currency and coin -300 37,203 +3,152 1 34,269 Total reserves held 1 37,035 37,035 -279 +3,483 Required reserves - 2,766 - 21 168 - 331 Excess reserves NOTE: A net of $104 million of surplus reserves were eligible to be carried forward from the week ended July 24, into the week ending July 31. On July 31, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,090 million, an increase of $160 million for the week. \J Excludes $2,587 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $141 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes $53 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 (Chicago District). H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since July 31, July 24, August 1, 1974** 1974 1973 A S S E T S Gold certificate account — 1,460 +1,157 Special Drawing Rights certif. accts. * 400 — .. Cash (1,383) 201 - 104 + 3 Loans 3,588 -2,050 +2,211 Acceptances—Bought outright 218 + 18 + 163 Held under repurchase agreements — - 265 97 Federal Agency obligations—Bought outright 2 3,585 +1,971 Held under repurchase agreements — 76 - 328 U.S. Government securities: Bought outright--Bills 35,464 -2,604 133 Certificates Other Notes — 39,781 +2,643 Bonds 2,858 — - 806 Total bought outright 1/ 2/ 78,103 -2,604 +1,970 Held under repurchase agreements — - 607 - 723 Total U.S. Government securities -3,211 78,103 +1,247 Total loans and securities 85,494 -5,838 +5,419 Cash items in process of collection (1,700) 8,030 + 407 -1,572 Bank premises 243 + 1 + 36 Other assets 3/ 1,441 + 264 + 297 TOTAL ASSETS (3,083) 107,269 "5,163 +5,233 k I LIL Lk LI I1L1 Federal Reserve notes Deposits: Member bank-reserves account U. S. Treasurer—general account Foreign Other 4/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES ££II1£L (1,383) 65,584 27,283 3,822 330 941 (1,700) (3,083) 32,376 5,908 1,155 105,023 - 276 -6,473 + 821 + 76 + 209 -5,367 + 429 50 -5,264 ACCOUNTS Capital paid in Surplus Other capital accounts 880 844 522 ^m — + 101 +5,336 -2,001 +1,541 + 80 + 163 - 217 - 293 + 211 +5,037 + + + 56 51 89 Contingent liability on acceptances purchased for foreign correspondents 1,023 + 48 + 525 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $2,587 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $141 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. kj Includes $53 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 (Chicago District) . MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 31. 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 Loans AcceptHoldings Weekly Weekly ances Holdings Changes changes Within 15 days 3,476 31 9,127 +2,645 3 -327 16 days to 90 days 112 187 17,770 -6,313 85 91 days to 1 year 21,273 + 457 449 Over 1 year to 5 years — 19,967 1,719 Over 5 years to 10 years 7,954 — 865 Over 10 years 2,012 — 464 Total 3,588 218 78,103 -3,211 3,585 -330 H.4.Ub) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 31, 1974 Total Boston New York Philadelphia Cleveland Richmond Atlanta ~, , Chicago * St. Louis Minneapolis Kansas City San Dallas Francisco (In millions of dollars) A S S E T S Gold certificate account Special Drawing Rights certif. acct. 11,460 400 452 23 2,422 93 734 23 877 33 971 36 608 22 2,018 567 15 213 7 411 15 380 14 1,807 70 F.R. notes of other banks Other cash 1,383 201 91 11 309 20 66 6 56 26 130 19 201 29 75 19 37 15 39 5 45 21 84 9 250 21 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/ 2/ Held under repurchase agreements Total U.S. Government securities Total loans and securities 3,588 50 1,607 88 98 289 347 406 23 67 134 186 293 218 --- 218 -- -- --- — — — « — — — -_ — -- --. -. »- -— 3,585 165 925 194 276 263 192 576 134 74 141 154 491 — — — — — — — 1,919 2,731 Gash items in process of collection Bank premises Other assets 3/ TOTAL ASSETS 1/ 2/ 3/ * -- — ! 35,464 1,632 .9,149 -- -- -- -- 39,781 | 2,858 78,103 1,830 131 3,593 10,262 737 20,148 2,153 155 4,227 — --, 3,064 220 6,015 2,603 — -« 1,895 5,703 -- -- -_ 2,920 210 5,733 2,126 153 4,174 6,397 1,322 -_ 1,483 460 107 12,560 2,912 — 737 -826 59 _ _ ,622* -- «_ ! 78,103 85,494 3,593 3,808 20,148 22,898 4,227 4,509 6,015 6,389 5,733 6,285 9,730 243 1,441 363 54 52 1,857 11 555 431 19 69 446 27 84 982 14 96 901 15 71 1,426 16 172 444 14 42 431 36 26 110,352 4,854 28,165 5,857 7,938 8,533 6,560 17,338 4,203 2 ,520 — — — — 4,174 " 4,713 — 12,560 ~" 13,542 f,912 3,069 Excludes $2,587 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $141 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (Chicago District). "zr7FJ2~ 1 ,763" -1,391 -1,560 49 — «.„ 1,526 4,856 .. 1,713 -5,447 112 123 391 3","063 3,362 10,694 3,338 3,362 "" 3,702 — 702 17 ~_A3_ 4,594 «. _—___. 11,478 """"" 657 12 48 1,090 4,906 14 8 884 8 181 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 31, 1974 Total New York Boston Phila- Clevedelphia land Richmond Atlanta Chicago * St. 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 accrtled 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 66,967 16,712 4,186 5,369 6,016 3,574 10,868 2,709 1,251 2,537 2,541 7,940 7,880 768 713 302 11 1/ 121 822 3 859 302 14 9 1,574 1,161 1,849 3,843 1,477 5,268 309 16 24 257 21 20 493 44 20 852 212 10 2 1,089 330 25 1 192 11 5 208 15 11 400 36 21 1,297 1,711 5,725 623 489 747 3,264 32,376 7,608 1,084 9,536 1,038 1,184 1,930 1,510 2,147 315 359 787 616 4,400 1,549 1,076 364 305 663 104 6 3 776 416 1,155 52 293 62 86 87 62 176 41 25 44 47 180 108,106 4,764 27,579 5,747 7,744 8,400 6,399 16,993 4,131 2,468 4,501 4,788 14,592 880 844 522 35 34 21 228 215 143 41 42 27 78 74 42 49 47 37 67 62 32 136 132 77 29 29 14 21 20 11 37 35 21 48 46 24 111 108 73 110,352 4,854 28,165 5,857 7,938 8,533 6,560 17,338 4,203 2,520 4,594 4,906 14,884 50 90 57 75 160 35 24 42 56 131 1,310 2,682 2,702 8,493 27,283 3,822 330 941 1,023 42 2/ 261 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 70,346 3,416 2,225 100 69,000 71,825 3,350 3,450 17,558 17,850 17,850 4,269 5,532 6,244 300 350 720 4,100 4,400 5,400 5,750 5,610 6,330 3,919 4,000 4,000 11,328 2,893 700 50 10,800 11,500 2,885 2,935 5 1,350 1,350 2,800 2,800 2,755 2,760 8,700 8,700 1/ After r^.ducting $ 209 million participations of other Federal Reserve Banks. 2j 3/ After deducting $ 762 million participations of other Federal Reserve Banks. Includes $53 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 * Estimated (Chicago District).
@FedFRASER