The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release December 13, 1973 The average of daily figures for total reserves of member banks declined $617 million in the latest statement week to $34,234 million. Required reserves showed little change while excess reserves and member bank borrowings at Federal Reserve Banks declined more sharply. Major factors providing reserves in the latest statement week were declines in Treasury and foreign deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital. Offsetting these reserve gains was an increase in currency in circulation. In addition, System Open Market operations absorbed $825 million reserves net, on a weekly average basis, through matched sale-purchase transactions and maturing repurchase agreements made in the previous week. Some reserves were provided during the week through repurchase agreements. 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 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 Averages of daily figures Week ended Change from week ended Wednesday, Dec. 12, * Dec. 5, Dec. 13, Dec. 12, 1973 1973 1972 1973 * (IrI millions of dollars) 76,262 576 1,774 115 - 160 562 - 36 47 - 45 1,725 18 20 + 28 48 51 175 + + 497 45 1,580 - 647 - 121 +7,557 +1,157 2,607 1,045 83,537 11,567 12 75 962 + 20 -1,055 400 — -- 8,666 104,092 71,223 + 5 -1,051 + 730 315 1,597 297 651 2,768 76,851 + — 79 29 400 287 143 + 376 +9,089 +5,349 41 + 247 + 45 19 11 297 632 190 71 + 450 +6,039 2,796 77,254 19 - 537 603 88 2,369 83,460 11,567 1/2/75,865 + + -- 45 54 1,302 +6,886 + 240 8,668 104,172 71,670 335 1,324 Member bank reserves: With Federal Reserve Banks 27,241 -1,123 +3,050 26,918 Currency and coin 6,909 + 506 + 482 6,909 Total reserves held 3/ 34,234 - 617 +3,166 33,911 Required reserves 34,474 1 +3,650 34,474 Excess reserves 3/ - 616 - 240 484 563 NOTE: A net of $277 million of surplus reserves were eligible to be carried forward from the week ended December 5, into the week ending December 12. On December 12, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,136 million, a decrease of $353 million for the week. jL/ Excludes $490 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 1/ Includes $91 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 1/ Adjusted to include $84 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 $46 million of certain deposits of domestic non-member banks and foreignowned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by non-member of F ^ M ^ ^ W S S ? ! ^ credit restraint. Estimated (Philadelphia and Richmond Districts). CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Dec. 13, Dec. 12,** Dec. 5, 1Q7T 1972 1973 A S S E T S Gold certificate account 11. 460 -- + 1,157 Special Drawing Rights certif. accts. * 400 -— Cash ( 872) 315 1 + 21 + Loans 580 + 894 + 585 Acceptances—Bought outright + 14 48 5 Held under repurchase agreements 54 51 - 84 Federal Agency obligations--Bought outright 1. 725 - 85 + 562 Held under repurchase agreements 65 79 - 136 U.S. Government securities: Bought outright--Bills 34 530 - 528 + 4,792 Certificates Other Notes 38,186 + 1,505 — Bonds 3,149 449 — Total bought outright 1/2/ 75,865 - 528 + 5,848 Held under repurchase agreements ~ ~~ 537 - 684 - 1,006 Total U.S. Government securities 76,402 -1,212 + 4,842 Total loans and securities - 618 + 5,856 79,885 Cash items in process of collection -1,261 (1,592) 8,209 - 2,048 Bank premises 22.1 + 50 — Other assets £/ 824 149 + 75 TOTAL ASSETS 101,314 + 4,867 (2,464) -1,783 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 _4/ 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 ( 872) 63,545 26,838 1,524 297 (1,592) 632 29,291 5,682 959 (2,464) 99,477 838 793 206 31 16 + 5,036 319 1 + 38 + 20 262 385 + 345 »1,875 + 4,734 + 713 -2,266 - 181 72 84 -2,603 + - + 1 — + 91 + + + 50 51 32 Contingent liability on acceptances purchased for foreign correspondents 613 + 6 + 431 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $490 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $91 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $46 million of certain deposits of domestic non-member banks and foreignowned 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 (Philadelphia and Richmond Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, nEr.ffMttira 19 1Q71 (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 AcceptLoans Holdings [Weekly Weekly Holdings ances Changes changes 5,661 -1,234 79 -220 60 Within 15 days 1,507 710 133 + 44 19,007 39 16 days to 90 days 73 19,550 • 688 282 + 6 91 days to 1 year 659 - 6 22,953 — Over 1 year to 5 years 424 - 45 7,469 — Over 5 years to 10 years 227 1,762 -— Over 10 years --221 1,212 1,804 76,402 99 Total 1,580 STATEMENT OF CONDITIO! 01 EACH FEDERAL RESERVE BANK ON DECEMLEL 12, 1973 H.4.Ub) Total Boston New York Phila-* delphia Cleveland Richmond * Atlanta Chicago St. Louis Minneapo lis Kansas City Danas San Francisco 0 .n millions of dollars) A S S E T S Gold certificate account Special Drawing Rights certif. acct. F.R. notes of other banks Other cash 11,460 400 811 23 2,030 93 774 23 955 33 1,103 36 619 22 2,200 70 566 15 210 7 501 15 276 14 1,415 49 872 315 81 17 196 21 36 4 42 34 65 51 125 41 51 35 23 19 13 10 45 34 86 16 109 33 1,580 71 859 50 2 94 95 137 21 60 82 27 82 48 51 -— 48 51 -— -— -— — -- -— --- -— .. -- _-- — 1,725 79 81 440 79 92 133 127 95 276 61 34 66 74 246 -- — — — -- -- -- -- -- 34,530 1,620 8,806 1,850 2,551 1,897 5,517 686 1,314 1 ,493 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 -- -- -- -- -- -- -- -- -- -- -- _- 38,186 3,149 75,865 537 76,402 79,885 1,792 148 3,560 2,046 168 4,064 2,944 243 5,848 2,821 233 5,605 2,098 173 4,168 6,101 503 12,121 1,345 111 2,672 759 63 _,508 1,453 120 2,887 1 ,650 136 ,279 -- -- -- -- -- -- -- 3,560 3,712 9,738 803 19,347 537 19,884 21,361 4,064 4,206 5,848 5,983 5,605 5,826 4,168 4,358 12,121 12,534 2,672 2,754 Cash items in process of collection Bank premises Other assets 3/ 9,801 221 824 311 42 32 1,533 10 205 490 10 38 480 27 51 1,050 14 53 1,133 15 45 1,295 16 108 103,778 i 5,029 25,449 5,581 7,605 8,198 6,358 16,309 TOTAL ASSETS \_l 2_l 3/ * -- — -2,661 1,216 4,919 _5,439 448 10,806 1 ,602 3,035 T — ,279 "T 3 ,380 523 14 32 477 36 64 697 17 24 616 12 29 1,196 8 143 3,946 2 ,419 4,368 4 ,429 14,087 — Excludes $490 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $91 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (Richmond, Philadelphia Districts). _,508 ~2,887 -10,806 11,134 ~ H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 12, 1973 Total Boston New York Phila- Clevedelphia land Rich-" Atlanta mond 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 accnled dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for fore]Lgn correspondents 64,417 3,214 15,805 4,031 5,181 5,757 3,486 10,777 2,569 1,155 2,511 2,433 7,498 26,838 1,524 297 632 29,291 7,274 1,185 161 12 3 1,361 336 6,905 289 1/ 94 528 7,816 1,107 910 79 14 20 1,023 389 1,701 92 25 1,818 374 1,253 202 14 21 1,490 783 1,840 68 19 13 1,940 747 3,961 126 43 17 4,147 956 858 80 9 1 948 336 671 60 6 1 738 464 1,030 91 12 4 1,137 611 1,292 72 15 6 1,385 474 5,232 204 34 18 5,488 697 959 101,941 42 4,953 247 24,975 47 5,490 71 7,444 65 8,095 53 6,226 141 16,021 31 3,884 20 2,377 34 4,293 38 4,330 170 13,853 838 793 206 34 34 8 214 207 53 42 39 10 74 72 15 47 42 14 62 55 15 131 124 33 28 27 7 20 18 4 35 33 7 46 43 10 105 99 30 1.03,778 5,029 25,449 5,581 7,605 8,198 6,358 16,309 3.946 2A419 4,368^ 4,429 14,087 613 25 2/160 30 56 32 43 96 21 26... 33 77 2,590 7,898 -SB .. J4_. FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,345 16,485 4,115 5,371 5,901 3,675 11,021 2,678 1,185 2,622 175 -- 400 350 750 -- 700 155 3,210 16,650 3,800 5,200 5,250 3,800 10,600 2,570 1,220 2,700 2,630 8,000 3,385 16,650 4,200 5,550 6,000 3,800 11,300 2,725 1,220 2,700 2,635 8,000 5 1^/ After deducting $ 203 million participations of other Federal Reserve Banks. 2/ After deducting $453 million participations of other Federal Reserve Banks. 3/ Includes $46 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. ,f Estimated (Richmond, Philadelphia Districts).
@FedFRASER