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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release August 30, 1973 The average of daily figures for total reserves of member banks increased $226 million in the latest statement week to $33,818 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. 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 was a decline in currency in circulation. In addition, System Open Market operations provided $487 million reserves net, on a weekly average basis, through outright purchases of Treasury bills and repurchase agreements. Some reserves were absorbed late in the statement week through matched sale-purchase transactions. 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 obligationsBought 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/ NOTE: Averages of dally figures Week ended Change from week ended Wednesday, August 29, August 22, August 30, August 29, 1973 * 1973 * 1973 1972 (In millions of dollars) 74,932 242 4417 + 12 +4,665 + 167 172/74,369 1,607 58 - 7 + 49 + 518 + 41 1,597 48 32 + 3 + 13 + 19 24 46 2,558 185 4423 + 22 +2,081 + 185 2,064 749 82 ,290 10 ,410 400 8 ,554 101,654 68,213 345 1,649 286 781 2,929 74 202 -613 - 23 +275 -1,106 + 20» +6,390 3,465 188 -«* 2,309 805 82 ,591 10 410 400 27 453 _L,253 33,818 33,673 145 + 401 +6 ,791 +5 ,669 + 29 + 40 + 103 + 197 + 578 +6 ,615 _L L 5 5 7 + 177 + 551 + 840 + 922 82 27,732 6.253 34,097 33,673 424 101,958 68,480 346 1,431 257 731 2.981 74,226 A net of $49 million of surplus reserves were eligible to be carried forward from the week ended August 22, into the week ending August 29. On August 29, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,215 million, a decrease of $120 million for the week. \J Excludes $840 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $110 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ 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. • 4/ Includes $22 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. v Estimated (Boston, Cleveland, and Richmond Disfriot-e\ H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday August 29, August 22 August 30, 1972 1973 197?** ASSETS Gold certificate account 10,303 Special Drawing Rights certif. accts. * 400 Cash 16 4 308 (1,222) Loans +2,133 429 3,465 Acceptances—Bought outright 21 46 Held under repurchase agreements 58 53 Federal Agency obligations--Bought outright + 521 17 1,597 Held under repurchase agreements 24 - 118 U.S. Government securities: Bought outright—Bills 33 +3,468 33,567 Certificates Other 671 37,374 Notes Bonds 83 3,428 +4,056 Total bought outright 33 1/ 2 / 74,369 Held under repurchase agreements — - 526 - 554 Total U.S. Government securities +3,530 - 587 Total loans and securities +5,987 -r 2'5fc Cash items in process of collection (1,538) ~*;wi- ~ ^ 3 t > ^r,52?7 Bank premises 210 — + 46 Other assets jj/ 99,235 TOTAL ASSETS (2,760) +3,363 •Wr ^S- tlAHtlllls Federal Reserve notes Deposits: Member bank-reserves account U. S. Treasurer—general account Foreign Other 0/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES £ A L 11 A k A £ £ ° H N 1 s, (1,222) (3) (3) (1,535) (2,760) 60,470 27,652 1,431 257 Z31_ 30,071 5,712 963 97,216 Capital paTd in" "" "~ Surplus Other capital accounts 827 793 398 Contingent liability on acceptances purchased for foreign correspondents 518 + - 11 678 537 20 +5,325 -1,023 + 25 + 89, - 4L- + W + 1 — 88 -1,276 9 + 46 -1,228 + - 780 -1,761 + 38v +3J70 + + + 49 51 93 + 231 * Figures in parentheses are the eliminations made in the consolidating process. 17 Excludes $840 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2y Includes $110 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3>/ Includes assets denominated in foreign currencies. 4/ Includes $22 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 credit restraint. ** Estimated (Boston, Cleveland, and Richmond Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES. August 29, 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 Loans Acceptsecurities Weekly Holdings Weekly ances Holdings Changes changes 3,351 Within 15 days 13 -16 30 3,959 -1 ,378 114 16 days to 90 days 18,285 33 + 259 7 -23 91 days to 1 year + 7 18,894 + 532 379 — -Over 1 year to 5 years -— 622 - 9 22,171 Over 5 years to 10 years — --• -307 9,358 Over 10 years -w252 — 1,702 — Total - 587 1.357" 3,465 74,369 -41 ih H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 29, 1973 Total Boston* New York Philadelphia Cleveland * Richmond* Atlanta Chicago 0"n millions St. Louis Minneapolis Kansas City Dallas San Francisco of dollars) A S S E T S Gold certificate account Special Drawing Rights certif. acct. 10,303 400 550 23 2,118 93 590 23 789 33 842 36 336 22 2,072 70 425 15 211 7 71 15 265 14 2,034 49 F.R. notes of other banks Other cash 1,222 308 151 17 266 23 51 5 47 32 115 37 210 40 64 36 33 21 29 /6 43 38 80 14 133 39 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 3,465 160 967 157 171 286 382 618 53 42 178 136 315 46 -1,597 -— 71 46 — 426 — — 86 --118 --114 --84 -— 253 -— 58 -— 30 _-67 — — 71 — — 219 — — — -- — — -- — -- — — — 33,567 1,498 8,951 1,816 2,469 2,388 1,760 5,321 1,223 636 1,403 1,490% 4,612 37,374 1 3,428 1 74,369 -_ 74,369 79,477 1,668 153 3,319 _3,319 3,550 9,966 914 19,831 -19,831 21,270 2,022 186 4,024 -4,024 4,267 2,750 252 5,471 -5,471 5,760 2,659 244 5,291 -5,291 5,691 1,959 180 3,899 -3,899 4,365 5,924 543 11,788 -11,788 12,659 1,362 125 2,710 -2,710 2,821 708 65 1,409 «.1,409 1,481 1,562 143 3,108 3,108 3,353 1,659 152 3,301 — 3,301 3,508 5,135 471 10,218 -10,218 10,752 Cash items in process of collection Bank premises Other assets 3/ 9,479 210 595 350 37 32 1,567 7 153 451 8 42 520 27 38 1,075 14 40 1,000 15 29 1,333 17 76 406 14 18 481 34 15 691 17 20 584 12 23 1,021 8 109 |101,994 ! 4,710 25,497 5,437 7,246 7,850 6,017 16,327 3,753 2,264 4,248 4,500 14,145 TOTAL ASSETS 1/ 2/ 3/ * — Excludes $840 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions, Includes $110 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (Boston, Cleveland and Richmond Districts). H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON * Total Boston New York Phila- Clevedelphia land* AUGUST 29, 1973 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 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 3,820 4,905 5,476 3,165 10,322 2,421 1,105 2,423 2,355 7,178 7,3 87 1,015 1,524 1,127 1,822 4,237 632 64 6 3 705 388 1,435 5,605 82 12 20 801 101 9 3 914 317 1,060 273 66 11 8 65 14 8 194 32 23 61,692 3,159 27,652 1,431 1,007 70 11 1/ 68 257 734 30,074 7,247 1 3 1,091 337 15,363 616 8,344 1,023 54 13 15 125 23 1 64 18 10 273 40 24 1,129 1,673 1,209 1,914 4,574 339 432 950 748 973 50 139 32 16,008 3 684 130 124 65 28 27 14 963 41 246 47 65 Q7A 4,628 24,976 5,335 7,075 827 793 398 33 34 15 209 207 105 41 39 22 74 72 25 101.994 4,710 25,497 5,437 7,246 7,850 6,017 16,327 518 22 2/135 25 47 27 36 81 QQ 99 l'XL 7 45 42 29 5,877 61 55 24 3,753 9 1,145 1,522 5,854 558 478 704 39 146 21 38 91 Q /, 1 A /. «- , *- *. y 20 18 7 35 33 16 4,394 13,882 45 43 18 106 99 58 2,264 _.4J_248. 12 22 28 65 2,558 2,538 7,604 18 4,500 14,145 FEDERAL RESERVE AGENTS 1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 64,512 3,308 2,415 2 50 63,690 66,105 3,110 3,360 16,211 16,450 16,450 3,873 5,082 5,660 350 350 605 3,700 4,050 4,850 5,200 5,120 5,725 U After deducting $189 2/ After deducting $ 383 million participations of other Federal Reserve Banks. million participations of other Federal Reserve Banks. 3,413 3,600 3,600 * 10,545 2,563 700 155 10,100 10,800 2,480 2,635 1,157 5 1,200 1,200 2,580 2,585 7,900 7,900 Estimated (Boston, Cleveland and Richmond Districts), 3/ Includes $22 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. 2,600 2,600
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