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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 The average declined $206 million Required reserves and while excess reserves For immediate release August 23, 1973 of daily figures for total reserves of member banks in the latest statement week to $33,590 million. member bank borrowings at Federal Reserve Banks increased declined. Declines in both float and other Federal Reserve assets and an increase in other Federal Reserve liabilities and capital were the major factors absorbing reserves in the latest statement week. Partially offsetting these reserve drains were declines in both Treasury deposits with Federal Reserve Banks and currency in circulation. In addition, System Open Market operations provided $394 million reserves net, on a weekly average basis. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securities-Bought outright--System account Held under repurchase agreements Special Certificates Federal Agency obligations-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 4/ Other F.R. liabilities and capital Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held 3/ Required reserves Excess reserves 3/ Averages of daily figures Week ended Change from week ended Wednesday, August 23, August 22, August 22, August 15 1973 * 1972 1973 1973 * (In millions of dollars) 74,515 230 +190 +230 +3,953 v ?30 1/21/74,402 554 - 50 1,614 9 + + 445 9 1,614 24 45 19 - 4 + 19 + 23 19 46 53 2,135 163 +219 + 15 +1,787 + 163 3,036 166 3,089 2,675 Z22. 82,013 10,410 400 8,549 101,372 68,463 353 919 348 884 2,826 73,793 27,579 5,899 33,590 33,558 32 -176 981 z510 OQ2 L§3 - 74 +5,539 + 3 - 71 -156 + 6 -494 + 34 + 6 +122 -482 + 83,571 10,410 400 8.552 102,933 68,450 356 1,968 277 772 2,846 74,669 +411 -617 -206 + 48 -254 398 +5 ,937 +5 ,678 + 38 - 861 + 171 + 303 + 537 +5 ,865 + + + + 72 584 768 776 8 28,264 5,899 34,275 33,558 717 NOTE: 1/ 2/ 3/ 4/ * A net of $109 million of surplus reserves were eligible to be carried forward from the week ended August 15, into the week ending August 22. On August 22, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,335 million, an increase of $91 million for the week. Excludes $554 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $123 million securities loaned — fully secured by U.S. Government securities pledged with Federal Reserve Banks. Adjusted to include $112 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. Includes $20 million of certain deposits of domestic non-member banks and foreign-owned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by non-member institutions in the Federal Reserve System's program of credit restraint. Estimated (San Francisco District). CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday August; 22, August 15,1 August 23, 1973 1972 1973 ** ASSETS --10,303 Gold certificate account --400 Special Drawing Rights certif. accts. 16 312 5 + (1,173) Cash +2,159 3,036 + 506 Loans -21 46 Acceptances—Bought outright + 53 53 + 53 Held under repurchase agreements -+ 455 1,614 Federal Agency obligations—Bought outright + 24 24 Held under repurchase agreements + 24 U.S. Government securities: +4,019 +2 ,301 33,600 Bought outright—Bills - 351 -Certificates - Special -Other 671 37,374 Notes Bonds 1,428 _B3Total bought outright +4,607 +1,950 1/ 2/ 74,402 + 554 Held under repurchase agreements + 554 554 +5,161 Total U.S. Government securities 74,956 +2,504 Total loans and securities 79,729 +7,821 +3,08/ Cash items in process of collection -2,481 (1,679) 8,764 -2,881 Bank premises + 45 210 + 1 Other assets 37 JZ 1£_ S43^ LS_ TOTAL ASSETS +5.350 (2,852) XQSU&L + 194 H.4.1(a) 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 47 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 (2,852) 98,332 - 319 + 582 +1,968 - 132 - 3<? +2 ,382 -1 ,968 8 + + 103 826 793 310 -— 91 (1,173) 60,459 28,184 1,968 277 772 31,201 (1,679) 5,755 + +5,299 +1,214 + 49 + 90 + 199 +1,552 -2,032 + 363 +5,182 + + + 49 51 68 Contingent liability on acceptances purchased for foreign correspondents 518 + 1 4 + 232 * Figures in parentheses are the eliminations made in the consolidating process. 17 Excludes $554 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $123 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $20 million of certain deposits of domestic non-member banks and foreign-owned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by non-member institutions in the Federal Reserve System's program of credit restraint. ** Estimated (San Francisco District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, August 22. 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 obligations securities Loans Acceptances Holdings Weekly Holdings Weekly Changes changes Within 15 days 67 46 2,939 5,337 +2,105 +29 16 days to 90 days 32 18,026 +1,665 97 30 - 5 91 days to 1 year — L8,362 -1,266 372 Over 1 year to 5 years -631 22,171 -Over 5 years to 10 years -93,358 307 .. Over 10 years 1,702 252 -Total 3,U36 74,956 +2,504 99 1,638 +24 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 22, 1973 H.4.Ub) 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. 10,301 400 678 23 2,095 93 517 23 893 33 738 36 497 22 2,155 70 417 15 93 7 127 1.5 196 14 1,897 49 F.R. notes of other banks Other cash 1,173 312 150 17 250 23 48 5 45 32 100 37 200 41 65 35 32 22 28 6 45 38 72 14 138 42 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 3,036 161 1,258 205 105 270 266 299 51 66 180 72 46 53 430 87 119 115 84 256 59 31 67 636 Cash items in process of collection Bank premises Other assets 3/ TOTAL ASSETS 17 2/ 3/ * 46 53 1,614 24 103 72 222 24 33,600 1,500 8,959 1,818 2,472 2,390 1,762 5,326 1,224 37,374 3,428 74,402 554 1,668 153 3,321 9,966 914 19,839 554 2,022 186 4,026 2,750 252 5,474 ,659 244 ,293 180 3,901 3,924 543 11,793 1,362 125 "11 708 65_ 1,409 74,956 79,729 3,321 3,554 20,393 22,204 ,026 4,318 5,474 5,698 5,293 5,678 3,901 4,251 1,793 12,348 "LI 2,821 10,443 210 543 350 37 22 1,642 7 134 491 8 31 522 27 34 1,196 14 39 1,172 15 34 U7 17 68 103,113 4,831 26,448 5,441 7,284 7,838 6,232 16,175 1,404 1,492 4,617 >,13: l,i-:2 i,o59 ._..!_•,•. _152.. J,lA-v 3,303 1.409 1,506 3,109 3,356 3.303 3,447 432 14 15 623 34 23 o => 643 12 21 1,2 50 3,768 2,320 4,323 4,419 14,034 Excludes $554 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions, Includes $123 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (San Francisco District). 7 0 _i£um_ 10,5 48 102 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 22, 1973 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis Kansas City San Dallas Fran- * cisco (In millions of dollars) LIABILITIES. 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 forei•gn correspondents 61,632 3,146 15,365 3,819 4,898 5,463 3,138 10,334 2,426 1,109 2,424 2,357 7,153 28,184 1,968 1,097 8,232 1,000 1,640 1,177 1,868 4,007 5,401 89 13 19 121 25 2 136 14 23 137 19 55 357 43 17 69 11 8 120 15 7 215 34 20 1,121 1,788 1,350 2,079 4,424 1,189 1,416 5,670 359 366 853 827 981 605 136 6 4 751 395 1,274 362 782 116 9 5 912 333 1,101 110 11 3 593 507 819 37 142 277 772 31,201 7,434 1,221 346 1/ 77 609 9,280 1,055 917 39 254 45 63 62 53 132 31 22 37 101,184 4,752 25,954 5,344 7,115 7,728 6,097 15,871 3,702 2,277 4,243 826 793 310 33 34 12 209 207 78 41 39 17 74 72 23 45 42 23 61 55 19 129 124 51 28 27 11 20 18 5 35 33 12 103,113 4,831 26,448 5,441 7,284 7.838 6.232 16.175 3.768 2.320 4.323 518 22 2/135 25 47 27 36 81 1£_ 4,317 13,784 106 99 45 45 43 14 4.419 14.034 22 28 65 1,161 2,560 2,544 7,594 1.200 1,200 2.600 2,600 2.580 7.900 2,585 7,900 -11- FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 1/ 3,321 250 3,110 3,360 16,236 — 16,450 16,450 3,888 5,070 5,667 350 350 605 3,700 4,050 4,850 5,200 5,120 5,725 After deducting $ 200 million participations of other Federal Reserve Banks. 3,422 3.600 3,600 10,538 2,558 700 155 10,100 10,800 2.480 2,635 * Estimated (San Francisco District), 2/ After deducting $ 383 million participations of other Federal Reserve Banks. 37 Includes $ 20 million of certain deposits of domestic non-member banks and foreign-owned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by non-member institutions in the Federal Reserve System's program of credit restraint.
@FedFRASER