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FEDERAL RESERVE '^LRt^V Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release December 20, 1973 The average of daily figures for total reserves of member banks increased $727 million in the latest statement week to $35,093 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. Major factors absorbing reserves in the latest statement week were increases in currency in circulation, foreign deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital. Offsetting these reserves drains was an increase in float. In addition, System Open Market operations provided $873 million reserves net, on a weekly average basis through outright purchases of Treasury bills and 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 3/ Other F.R. liabilities and capital Averages of daily figures Week ended Chang e from wee k. ended Wednesday, Dec. 19,* Dec. 19, * Dec . 12, Dec. 20, 1973 1972 1973 1973 (IrI millions of dollars) + + 692 91 + + 24 37 + + 635 131 1,798 152 54 74 + + 9 20 + 12 33 53 187 + 187 5 - + + 268 40 1,568 + 710 + 74 +1 ,843 --+ 2 +1 ,845 + 450 8 + 57 + 100 + 23 + 153 + 776 „ 1 - 107 +8 ,353 +1 ,157 -+ 374 +9 ,884 +5 ,488 - 45 + 265 + 119 + 96 + 587 +6 ,511 76,954 667 1,798 1,489 40 3,216 1,037 85,441 11,567 400 8,668 106,076 71,679 307 1,654 397 674 2,922 77,634 +7 ,103 + 303 1/77,425 2,323 419 43 | | ! | ! 4,596 1,067 89,436 11,567 400 8,668 110,071 72,102 303 2,092 283 670 2,980 78,430 Member bank reserves: With Federal Reserve Banks 31,640 28,442 +1 ,069 +3 ,373 - 342 Currency and coin + 678 6,567 6,567 Total reserves held 2/ 35,093 + 727 38,291 +3 ,685 Required reserves + 391 34,865 +3 ,663 34,865 Excess reserves 2/ 228 + 336 + 22 3,426 NOTE: A net of $53 million of surplus reserves were eligible to be carried forward from the week ended December 12, into the week ending December 19. On December 19, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $26,955 million, a decrease of $181 million for the week. 1/ Includes $113 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ 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. 3/ 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 District). H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Dec. 12, Dec. 20, Dec. 19, 1972 1973 1973 A S S E T S Gold certificate account 1,460 + 1,157 — Special Drawing Rights certif. accts. * 400 — — Cash ( 922) 26 4 289 Loans + 126 1,568 - 12 Acceptances—Bought outright 5 14 53 + 496 Held under repurchase agreements 187 + 136 + 635 Federal Agency obligations—Bought outright 1,798 + 73 + 380 Held under repurchase agreements 419 + 340 U.S. Government securities: +1,487 + 6,583 Bought outright--Bills 36,017 Certificates Other Notes + 1,578 38,259 73 Bonds 314 3,149 Total bought outright +1,560 77,425 + 7 ,847 Held under repurchase agreements +1,786 2,323 + 1 ,729 Total U.S. Government securities + 9,576 +3,346 79,748 Total loans and securities +10,799 +3,888 83,773 Cash items in process of collection + 29 (1,820) +2,182 10,698 Bank premises + 49 + 1 222 Other assets 2/ + 10 157 845 TOTAL ASSETS" (2,742) +6,077 +11,851 107,687 k1 A 1 Ik11IE S. Federal Reserve notes Deposits: Member bank-reserves account U. S. Treasurer—general account Foreign 922) 283 670 Other V Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES £ A I 1 1 A k 63,920 31,560 2,092 (1,820) (2,742) 34,605 6,182 1,046 105,753 838 793 303 Contingent liability on acceptances purchased for foreign correspondents 616 27 3/ ** 14 + 38 +4,997 + 545 + 87 +5,985 ACCOUNTS Capital paid in Surplus Other capital accounts * 1/ + 356 +4,405 + 568 __ -+ 92 + 5,103 + 5,473 + 947 + 12 + 124 + 6,556 424 + 456 +11,691 + + + 48 51 61 436 Figures in parentheses are the eliminations made in the consolidating process. Includes $113 million securities loaned--fully secured by U. S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. 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 District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 19, 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 Acceptobligations securities Loans ances Holdings Holdings Weekly Weekly Changes changes 200 436 +357 7,345 +1,684 1,499 Within 15 days 40 - 18 16 days to 90 days 19,374 115 69 + 367 — 91 days to 1 year 282 20,773 +1,223 -— Over 1 year to 5 years + 74 22,991 + 38 733 — -Over 5 years to 10 years 424 7,503 + 34 --— Over 10 years 227 1,762 ---_ --_ Total 2,217 +413 79,748 +3,346 1,568 240 H.4.Ub) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Phila-* delphia Cleveland Richmond Atlanta DECEMBER 19, 1973 Chicago St. Louis Minneapolis Kansas City — Dallas San Francisco O n millions of dollars) A S S E T S 11,460 400 594 23 2,038 93 684 23 657 33 877 36 611 22 2,669 70 674 15 216 7 337 15 658 14 1,445 49 922 289 82 17 183 21 40 4 52 33 75 29 146 40 54 34 30 20 16 11 42 33 72 15 130 32 1,568 87 196 81 255 100 117 142 40 39 64 52 395 53 187 — -- 53 187 — -- — -- — — — — --- — -- --- — -- — -- 84 459 419 96 139 133 99 287 63 36 68 78 256 — -- -- -- -- — -- -- -- 36,0L7 1,690 9,185 1,930 1 38,259 3,149 ! 77,425 2f323 79,748 | 83,773 1,795 148 3,633 ! 12,518 ! 222 845 Gold certificate account Special Drawing Rights certif. acct. F.R, notes of other banks Other cash 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/ Held under repurchase agreements Total U.S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 1/ 2/ * 1,798 419 ! 110,429 k -- -2 ,776 2,661 716 1,268 1,370 1 ,557 5,130 2,827 233 5,721 2,102 173 4,254 6,112 503 12,370 — -- -- -- 1,347 111 2,726 761 62 1,456 120 ~~2,946 1 ,653 _ 136 ,346 _- -- -- -- — -- -- -- -- 4,149 4,326 5 ,968 6 ,362 5,721 5,954 4,254 4,470 12,370 12,799 2,726 2,829 1,539 1,614 2,946 3,078 3 ,346 3 476 11,028 11,679 2,138 10 223 503 10 60 646 27 57 1,381 14 59 1,379 15 49 1,803 16 112 457 14 26 594 36 18 981 17 25 759 12 31 1,349 8 149 28,088 5,650 7 ,867 8,425 6,732 17,557 4,065 2,512 4,528 5 ,037 14,841 3,633 3,804 528 43 36 5,127 -- — 5,755 2 ,949 243 5 ,968 -- — 1,979 2,050 169 4,149 -- 9,757 803 19,745 2,323 22,068 23,382 -- -- -_.. -- I7539 -- Includes $113 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (Philadelphia District). — 5,450 448 11,028 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 19, 1973 H.4.1(c) Total Boston New York Phila- Clevedelphia land Richmond Chicago Atlanta 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 V Total deposits Deferred availability cash items Other liabilities and accriled 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 64,842 3,226 15,899 4,054 5,220 5,792 3,544 10,870 2,582 1,163 2,516 2,440 7,536 31,560 2,092 283 670 34,605 8,002 1,191 184 13 6 1,394 382 8,950 517 1/ 61 552 10,080 1,279 1,012 67 15 15 1,109 345 1,815 95 27 1,937 465 1,284 130 16 20 1,450 1,000 2,046 122 21 13 2,202 793 4,676 387 47 27 5,137 1,094 873 160 10 1 1,044 341 726 77 7 2 812 472 1,243 58 13 4 1,318 588 1,775 136 16 4 1,931 522 5,969 159 37 26 6,191 721 1,046 108,495 45 5,047 329 27,587 48 5,556 77 7,699 70 8,312 56 6,595 152 17,253 33 4,000 21 2,468 ?9 4,451 41 4,934 14,593 838 793 303 34 34 12 214 207 80 42 39 13 74 72 22 47 42 24 62 55 20 131 124 49 28 27 10 20 18 6 35 33 9 46 43 14 105 99 44 110,429 5,127 28,088 5,650 7,867 8,425 6,732 17,557 2,51j 4,j28 5,037 14,841 616 26 2/161 30 56 32 ......A3_ £L_ 4J)65_ 21- 1A_. 2Q„ 33 145 77. FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 67,359 3 ,367 2,535 175 65,940 68,475 3 ,230 3 ,405 16 574 — 16 ,650 16 ,650 4,144 5,394 5,953 400 350 750 3,800 4,200 5,200 5,550 5,290 6,040 3,737 — 3,800 3,800 11 ,082 2,707 700 155 10 ,600 11 ,300 2,600 2,755 1,202 — 1,240 1,240 2,633 2,598 -- 5 2,700 2,700 2,630 2,635 7 968 — 8 200 8 200 \j After deducting $222 2/ 3/ After deducting $455 million participations of other Federal Reserve Banks. 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. * Estimated (Philadelphia District). million participations of other Federal Reserve Banks.
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