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••o^vipv;-. FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release August 8, 1974 The average of daily figures for total reserves of member banks declined $318 million in the latest statement week to a level of $36,909 million. Required reserves and member bank borrowing at Federal Reserve? Banks declined while excess reserves increased slightly. An increase in float and decreases in Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital were the major factors providing reserves in the latest statement week. Partially offsetting this addition to reserves was an increase in currency in circulation. In addition, System Open Market Operations absorbed $588 million of reserves net, on a weekly average basis, primarily through maturing repurchase agreements made in the previous week. Member Dank 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 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, August 7, July'31, August 8, August 7, 1974 1974 1973 1974 (In millions of dollars) T7T7 80,066 +121 -383 3,582 218 44,764 78,539 +1,968 3,582 165 215 3,083 176 +1,078 + 18 2,889 2 ,089 1,461 90 ,499 11 ,567 400 8 ,931 - 613 + 162 +7,524 +1,157 2,455 1,560 89,240 11,567 111,397 74,374 284 2,730 274 799 3,053 81,514 + + 18 -892 +293 + 1 -484 - 19 + 14 -337 -532 165 _- 400 + 388 +9,069 +6,063 50 8,949 110,156 74,877 43 1 17 1,891 + 96 +6,048 3,030 81,023 289 261 675 Member bank reserves : 29,883 -358 With Federal Reserve Banks +3,023 29,133 7,026 + 40 Currency and coin + 542 7,026 36,909 -318 Total reserves held +3,453 36,159 36,688 -347 Required reserves +3,307 36,688 221 + 29 Excess reserves + 146 - 529 A net of $122 million of surplus reserves were eligible to be carried forward NOTE from the week ended July 31, into the week ending August 7. On August 7, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Binks for foreign and international accounts were $30,718 million, an increase of $628 million for the week. 1/ Excludes $2,221 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $138 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes $56 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 System1s program of credit restraint. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday July 31, August 8, August 7, 1973 1.9.74 12JA A S S E T S 1,460 Gold certificate account -+ 1,157 Special Drawing Rights certif. accts. 400 — — 62 Cash 246 (1,211) + 45 + 1,460 Loans 2,889 - 699 + 167 Acceptances—Bought outright 3 215 Held under repurchase agreements Federal Agency obligations—Bought outright 3,582 3 + 1,968 Held under repurchase agreements U.S. Government securities: Bought outright—Bills 35,900 + 436 + 4,029 Certificates Other + 2,643 Notes 39,781 -806 Bonds 2,858 — + 5,866 Total bought outright + 436 78,539 1/ 2/ Held under repurchase agreements -_ — -Total U.S. Government securities + 5,866 + 436 78,539 Total loans and securities + 9,461 85,225 - 269 Cash items in process of collection + 137 730 8,011 (1,669) Bank premises + 35 243 -Other assets j / + 162 1,317 - 124 TOTAL ASSETS 106,902 (2,880) - 211 +10,023 tlAIILHII s Federal Reserve notes Deposits: Member bank-reserves account U. S. Treasurer—general account Foreign Other j4 Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T A L ^ C O U N T S Capital paid in Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents (1,211) 66,356 29,133 1,891 261 675 (1,669) (2,880) 31,960 5,556 1,163 105,035 + 585 +1 ,850 -1,931 - 69 - 494 - 644 + 221 + 8 + 170 „ 880 844 143 - 381 1,064 41 — + 5,675 + 4,535 411 24 152 + 3,948 + 14 + 265 + 9,902 + + + 55 51 15 562 Figures in parentheses are the eliminations made in the consolidating process. 1/ Exclude s $2,221 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 1/ Include s $138 million securities loaned—fully secured by U.S. Government secur ities pledged with Federal Reserve Banks. 3/ Include s assets denominated in foreign currencies. 4/ Include s $56 million of certain deposits of domestic nonmember banks and foreignowned banking institutions held with member banks and redeposited in full with Feder al Reserve Banks in connection with voluntary participation by nonmember insti tutions in the Federal Reserve System*s program of credit restraint. * MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 7, 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 Acceptsecurities Loans ances Holdings Weekly Holdings Weekly Changes changes Within 15 days 2,733 29 8,540 -587 - 3 -16 days to 90 days 156 142 +908 18,678 93 + 8 91 days to 1 year - 8 44 +115 441 21,388 — Over 1 year to 5 years 1,719 19,967 — -— — Over 5 years to 10 years 7,954 865 — ---« Over 10 years 2,012 464 --— -Total 2,889 3,582 78,539 +436 215 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 7, 1974 H.4.Ub) Total Boston New York Philadelphia Cleveland Richmond St. Atlanta Chicago Louis Minneapolis Kansas City San Danas Francisco (In millions of dollars) A S S E T S Gold certificate account Special Drawing Rights certif. acct. 11,460 | 400 740 23 3,338 594 23 898 33 1,121 70 464 15 220 7 241 15 306 14 1,727 36 289 22 1,522 93 284 19 55 6 49 25 115 18 176 77 68 18 29 15 36 4 39 21 71 10 204 21 48 65 163 313 294 32 54 101 106 113 -- 49 F.R. notes of other banks Other cash 1,211 246 85 12 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 TcraL bought- outright 1 / 2 ' Held :n^r **t"»puT chase -=vi r e^p^t ? . v c. i i .::. -r^nr,-]'; ^?> »ij .'ics '\u. a 1 i "-in *. and se cu r i L1 ^ r- 2,889 67 215 --- 215 -- ; -- --- ..-- -.— -— -_ — — -- -_ -_- -— -— 3,582 j 165 924 194 276 263 191 576 134 74 141 154 490 -- -_ -- -. — — -- .. -. -- 1,942 2,765 2,635 1,919 5,773 1,338 746 1,409 1,545 4,915 39,781 2,858 78,539 1,830 10,262 2,153 3,064 2,920 2,126 6,397 1,483 155 220 210 153 460 107 20,260 4,250 6,049 5,765 4,198 12,630 2,928 1,631 3,081 1,713 123 3 ,381 5,447 737 826 59 1,560 131 -78,539 1 85,225 ] 9,680 2'' TOTAL ASSETS --. 9,261 1 243 1 1,317 > m ^ r .. --<rt- -- 1,652 \ >,M «- ^ - — 35,900 'a^l '•*----* "• pr-'cc^- ,"-f » ''ot.r on .r 1,533 ll09 s 782 3,613 -- -, 112 -- -- 3,613 3,845 20,260 22,932 4,250 4,492 6,049 65390 5,765 6,191 4,198 4,702 12,630 13,500 2,928 3,094 1,631 1,759 3,081 3,323 3 ,381 3 ,641 10,753 11,356 374 54 55 1,570 410 27 92 1,060 1,071 1,266 415 35 77 16 182 542 14 783 17 48 713 12 52 1,094 14 92 15 311 382 20 78 5.J3& 28,53d -»,650 7,924 8,647 6,429 16,642 4,487 4 i_819 i 1 — -« ... _- 42 4,215 1/ Excludes $2,221 ni^ll^n ,-': securities sold s and schedu. rd to b bought b a c k , under matched sale-purchase transactions* 2/ Includes $138 mil lien seniorities loaned--fully secure I rw TT S, 0k>vernment securities pledged with Federal Reserve Banks, 3/ Includes assets denoirin^^.ed in foreign currencies. «« -_~_33_ 2,509 -- -.- 391 10,753 .• 8 255 14.714.. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 7, 1974 Total Boston New York 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 forei-gn correspondents 67,567 3,271 16,779 4,191 5,406 6,039 3,673 11,120 2,734 1,257 2,550 2,557 7,990 29,133 1,891 261 675 31,960 7,225 1,274 9,223 103 159 12 1/ 51 5 521 1,394 9,954 399 1,048 811 156 14 14 995 316 1,754 141 25 6 1,926 343 1,318 228 16 27 1,589 832 1,762 127 21 24 1,934 620 3,854 226 44 18 4,142 916 830 116 9 12 967 410 692 84 6 4 786 397 1,000 82 12 7 1,101 715 1,502 98 15 19 1,634 481 5,113 371 36 18 5,538 748 291 60 86 80 63 175 41 25 43 47 201 5,115 28,072 5,562 7,761 8,540 6,290 16,353 4,152 2,465 4,409 4,719 14,477 228 215 43 41 42 5 78 74 11 50 47 10 67 62 10 136 132 21 29 29 5 21 20 3 37 35 6 48 46 6 111 108 18 109,782 5,188 28,558 5,650 7,924 8,647 6,429 16,642 4,215 2,509 4,487 4,819 14,714 1,064 44 2/ 271 52 94 60 78 167 36 24 44 58 136 1,308 2,700 2,702 6,523 1,163 107,915 880 844 143 51 34 34 5 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,402 17,589 4,268 5,538 6,250 3,956 11,328 2,880 700 50 5 300 350 720 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 2,935 1,350 2,800 2,760 8,700 100 1/ After deducting $ 210 million participations of other Federal Reserve Banks. 2/ 3/ After deducting $ 793 million participations of other Federal Reserve Banks. Includes $55 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