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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release August 15, 1974 The average of daily figures for total reserves of member banks showed no change in the latest statement week. Required reserves increased while excess reserves and member bank borrowing at Federal Reserve Banks declined slightly. The major factor providing reserves in the latest statement week was a decline in Treasury deposits with Federal Reserve Banks. This addition to reserves was largely offset by an increase in currency in circulation and a decrease in float. In addition, System Open Market Operations absorbed $162 million of reserves net, on a weekly average basis, primarily through matched sale-purchase transactions. Averages of daily figures Week ended Change from week ended Wednesday, Member bank reserves, August 7, August 15, August"14, August"14, Reserve Bank credit, 1974 1974 1974 1973 . and related items (In millions of dollars) Reserve Bank credit: U.S. Government securities-79,904 -162 80,221 +5,579 Bought outright--System account Held under repurchase agreements 50 Special Certificates Federal Agency obligations-3,582 4-1,968 Bought outright 3,582 Held under repurchase agreements Acceptances-218 + 169 Bought outright 215 Held under repurchase agreements Loans-3,040 - 43 +1,124 Total member bank borrowing 2,915 - 16 160 + 12 Includes seasonal borrowing of: 154 Other borrowing 2,003 - 98 - 883 Float 2,189 1,524 + 63 + 242 Other F.R. assets 1,540 90,270 -241 +8,148 Total Reserve Bank credit 90,662 11,567 -+1,157 Gold Stock 11,567 400 --Special Drawing Rights certif. acct. 400 8,953 + 22 + 407 Treasury currency outstanding 8,954 111,190 -219 +9,712 111,583 74,916 +542 +6,297 Currency in circulation 75,140 - 10 274 73 290 Treasury cash holdings 1,875 -855 + 462 J 1,969 Treasury deposits with F.R. Banks - 5 269 45 | 248 Foreign deposits with F.R. Banks + 76 875 3 929 Other deposits with F.R. Banks ^/ 3,107 + 54 + 403 3,141 Other F.R. liabilities and capital 81,315 -199 +7,040 81,717 Member bank reserves: 29,874 - 21 +2,672 29,865 With Federal Reserve Banks 7^047 + 21 + 532 7,047 Currency and coin 36,921 -+3,092 1 36,912 Total reserves held 36,797 +109 +3,282 36,797 Required reserves 124 -109 - 190 115 Excess reserves NOTE: A net of 3118 million of surplus reserves were eligible to be carried forward from the week ended August 7, into the week ending August 14. On August 14, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,766 million, an increase of $48 million for the week. U Excludes $401 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $95 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes $58 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 Systemrs program of credit restraint. Estimated (Dallas and San Francisco Districts). y CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of d o l l a r s ) Wednesday Change since Aug. 15, Aug. 14,** Aug. 7, 1974 1973 1974 A S/S. E T S Gold certificate account 11,460 + 1,157 Special Drawing Rights certif. accts. * 400 --Cash - 43 (1,128) 203 104 Loans 2,915 + 26 + 383 Acceptances--Bought outright 215 -- + 169 Held under repurchase agreements Federal Agency obligations—Bought outright 3,582 + 1,968 Held under repurchase agreements U.S. Government securities: Bought outright—Bills 37,582 +1 ,682 + 6,283 Certificates - Special — — - 351 Other -- + 2,407 Notes 39,781 Bonds 2,858 — 570 Total bought outright 1/ 2/ 80,221 +1 ,682 +" 7,769 Held under repurchase agreements --__ Total U.S. Government securities 80,221 +1 ,682 + 7,769 Total loans and securities 86,933 +1 ,708 +10,289 •Cash items in process of collection (1,841) 8,083 + 72 - 3,662 Bank premises 245 + 2 + 36 Other assets 3/ 1,295 - 22 + 734 TOTAL ASSETS (2,969) 108,619 ±1_J 1 7 _ ±_8,450 H.4.1(a) LIABILITIES. Federal Reserve notes (1,128) Deposits: Member bank-reserves account U. S. Treasurer—general account Foreign Other 4/ Total deposits Deferred availability cash items (1,841) Other liabilities and accrued dividends TOTAL LIABILITIES (2,969) C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts 66,573 29,865 1,969 248 929 33,011 5,894 1,160 106,638 881 844 256 + 217 + 732 + 78 - 13 + 254 +1 ,051 + 338 3 Z_ +1,603 + + 1 — 113 + 5,795 + 2,161 + 1,969 - 161 + 121 + 4,090 - 1,829 +_ 251 + 8,307 + + + 55 51 37 Contingent liability on acceptances purchased for foreign correspondents 1,131 + 67 + 627 * Figures in parentheses are the eliminations made in the consolidating process. \j Excludes $401 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $95 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. '±1 Includes $58 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 (Dallas and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 14, 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 Holdings Weekly ances Changes changes Within 15 days 2,838 26 10,686 +2,146 12 +12 16 days to 90 days 77 155 18,174 - 504 81 -12 91 days to 1 year 34 21,428 + 40 441 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 2,915 215 80,221 +1,682 3,582 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON H,4.Hb) Total Boston New York Philadelphia Cleveland Richmond Atlanta AUGUST 14, 1974 Chicago St. Louis Minneapolis Kansas City Dallas* San * Francisco (In millions of dollars) A S S E T S 11,460 4 00 357 23 2,921 93 693 23 1,037 33 954 36 476 22 1,935 70 352 15 181 7 194 15 487 14 1,873 49 F.R. notes of other banks Other cash 1,128 203 77 11 233 21 43 7 44 27 106 18 191 29 67 20 15 32 4 39 20 71 11 197 20 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./ r->] n under repurchase agreements 2,915 52 1,625 50 70 170 232 260 35 51 115 152 103 215 -._ 215 3,582 165 924 194 276 263 191 576 134 74 141 154 490 37,582 1,729 9,695 2,033 2,895 2,758 2,008 6,043 1,401 781 1,475 1,618 5,146 39,781 2*858 80,221 1,830 131 3,690 10,262 737 20,694 2,153 155 4,341 3,064 220 6", 179 2,920 210 ~5~888 2,126 153 4,287 6,397 460 12,900" 1,483 __107.. 2,991 826 59 1,666 1,560 112 3,147 1,713 123 3,454 5,447 391 10,984 80,221 86,933 3,690 3,907 20,694 23,458 A14L 4,585 6,179 6,525 AA 6,321 4,287 4,710 12,900 13,736 2,991 3,160 1,666 1,791 3,147 3,403 3,454 3,760 10,984 11,577 35 33 17 48 12 53 203 2,604 4,517 4,915 15,166 Gold certificate account Special Drawing Rights certif. acct. \> o 1 ! , S . Co vcrnnH'.nJ °.ec u r i t 1 ^ ;Vt-i' loan-; and ^ecurLile.^ of Bank premises Other assets 3/ TOTAL ASSETS 1/ 2/ 37 * -»1 1 p r r1 - 9,924 '245 1,295 /.HA 55 57 11 327 391 21 75 487 27 101 169 14 92 15 70 111,588 4,893 28,568 5,838 8,281 8,710 6,596 OC C )JUJ 16 192 17,401 ATI <-* / X 14 44 4,099 Excludes $401 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $95 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks, Includes assets denominated in foreign currencies. Estimated (Dallas and San Francisco Districts). H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 14, 1974 Total New York Boston Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis Kansas City San Dallas Fran- * cisco (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 accnled dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ac<:eptances purchased for fore:Lgn correspondents 67,701 3,277 16,785 4,200 5,441 6,060 3,632 11,182 2,740 1,260 2,552 2,564 8,008 29,865 1,969 248 929 33,011 7,735 950 109 10 6 1,075 411 8,758 407 1/ 70 605 9,840 1,135 890 231 12 28 1,161 323 1,980 145 21 15 2,161 423 1,254 202 13 78 1,547 108 1,865 134 17 32 2,048 908 4,442 169 38 72 4,721 1,014 794 97 8 20 919 332 716 53 5 11 785 488 1,030 74 10 29 1,143 698 1,540 140 13 17 1,710 490 1,160 51 292 60 84 80 63 177 41 24 43 46 5,646 208 31 16 5,901 805 199 109,607 4,814 28,052 5,744 8,109 8,595 6,451 17,094 4,032 2,557 4,436 4,810 14,913 881 844 256 35 34 10 228 215 7 3 41 42 11 78 74 20 50 47 18 67 62 16 136 132 39 29 29 9 21 20 6 37 35 9 48 46 11 111 108 34 111,588 4,893 28,i68 5,838 8,281 8,710 6,596 17,401 4,099 2,604 4,517 4,915 15,166 1,131 46 55 100 63 83 178 39 26 46 62 . 145 1,321 2,699 2,705 8,532 2/ .8 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,397 100 17,600 — 4,265 5,590 6,272 3,950 11,380 2,903 300 350 720 700 100 -- 3,350 17,850 4,100 5,400 5,610 4,000 10,800 2,885 1,350 2,800 2,755 8,700 3,450 17,850 4,400 5,750 6,330 4,000 11,500 2,985 1,350 2,800 2,760 8,700 1/ After deducting $ 178 million participations of other Federal Reserve Banks. * — 5 Estimated (Dallas and San Francisco Districts). 2/ After deducting $ 843 million participations of other Federal Reserve Banks. y Includes $58 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.
@FedFRASER