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O f COW. ' . FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release December 21, 1972 The average of daily figures for total reserves of member banks increased $322 million in the latest statement week to $31,393 million. Required reserves and member bank borrowings at Federal Reserve Banks increased while excess reserves declined. A seasonal increase in currency in circulation was the major factor absorbing reserves in the latest statement week. Partially offsetting this reserve drain was an increase in float. In addition, System Open Market operations provided $507 million reserves net, on a weekly average basis. Member bank borrowings were above the average of recent weeks and exceeded excess reserves by $1,070 million compared to $564 million for the previous week. 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 AcceptancesBought outright Held under repurchase agreements Loans-Member bank borrowings Other 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 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 o f daily figures Week ended Change from week ended Wednesday, Dec. 20, Dec. 13. Dec. 22, Dec. 20, 1972 1972 1971 1972 (Irl mi llions of dollars) 69,851 364 + + 1,163 21 475 28 +1,453 + 276 1/2/69,578 594 8 6 + + 698 14 1,163 39 + 1 19 67 91 66 41 + + 3 15 1,223 + 416 +1,082 1,442 3,184 1,144 77,056 10,410 400 8,294 96,160 66,188 352 1,389 278 578 . 2^335 71,120 + 162 + 61 +1 ,145 — — 4 + +1 ,149 + 314 4 + 39 + 26 84 + 17 + 308 -1,260 + 156 +2,435 + 278 -._ + 679 +3,392 +4,946 98 - 506 - 148 - 158 + 101 +4,137 3,995 1,176 78,145 10,410 400 8.294 97,249 66,521 359 1,145 271 546 2.363 71,205 25,041 5,902 31,393 31,240 153 + - + + + + 26,045 5.902 32,397 31,240 842 520 + 322 + 412 90 - 744 536 242 60 182 1 1,157 A net of $128 million of surplus reserves were eligible to be carried forward from the week ended December 13, into the week ending December 20. On December 20, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $31,373 million, a decrease of $62 million for the week. JL/ Excludes $257 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $65 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Adjusted to include $450 million of certain reserve deficiencies on which penalties can be waived for a transition period in connection with bank adapation to Regulation J as amended effective November 9, 1972. * Estimated (Cleveland District). H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Dec. 20, 1972 ** A S S E T S Gold certificate account Special Drawing Rights certif. accts. 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 Notes Bonds Total bought outright Held under repurchase agreements Total U.S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets J3/ TOTAL ASSETS 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 Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES * 854) 10,303 400 314 1,442 67 91 88 678 39 119 8 -- 29,434 304 + (1,906) 70,172 72,974 10,556 (2,760) 1,003 95,723 594 173 58,792 25,965 1,145 271 546 (1,906) 27,927 6,641 (2,760) 93,951 591 Contingent liability on acceptances purchased for foreign correspondents 180 3/ 14 68 614 - 105 790 742 240 1/ 447 5 — 39 £ A L I 1 A L A C C O U N T S Capital paid in Surplus Other capital accounts 1/ + + — - 135 - 439 - 949 -1,388 -1,055 + 379 + 2 + 30 - 644 + 283 -1,112 - 380 + 12 66 -1,546 + 574 23 - 712 + 2 — + 66 428 + + 1,163 1/ 2/ 854) + -— + + + 36,681 3,463 69,578 ( Change since Dec 13, Dec. 22, 1971 1972 +1,127 + 177 +1,423 + 582 +2,005 +3,416 -2,871 + 23 + 135 +1,199 +4,353 + 727 - 886 - 202 - 179 - 540 -2,727 + 18 +1,104 + + + 52 40 3 75 Figures in parentheses are the eliminations made in the consolidating process Estimated (Cleveland District). Excludes $257 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $65 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 20, 1972 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Federal Agency Accept U. S. Government Loans obligations securities -ances Holdings Weekly Holdings Weekly changes Changes 1,440 5,138 - 363 -105 Within 15 days 111 39 — 16 days to 90 days 16,592 - 920 2 47 32 — --91 days to 1 year 16,304 - 105 191 — — -— Over 1 year to 5 years 24,484 540 ----Over 5 years to 10 years 6,108 238 -— U546 Over 10 years — — 162 Total 1,442 158 70,172 •1,388 1,202 •105 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 20, 1972 Total Boston New York Philadelphia Cleve1 and * 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. 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/ 2/ Held under repurchase agreements Total U.S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 3/ TOTAL ASSETS \_l 2_/ 3/ * 1 10,303 400 608 23 1,202 93 973 23 1,038 33 663 36 615 22 2,759 70 376 15 239 7 334 15 211 14 1,285 49 854 314 144 13 170 16 30 10 37 38 82 36 106 41 72 41 20 22 19 5 39 41 34 14 101 37 1,442 85 671 103 71 29 58 201 g 12 191 11 67 91 --- 67 91 --- --- --- --- --- --- -- --- --- --- 54 -- 295 39 58 -- 89 -- 88 -- 61 -- 188 -- 42 -- 22 -- 46 -- 51 -- 169 -- 29,434 1,377 7,462 1,456 2,238 2,237 1,553 4,754 1,073 557 1,167 1 ,291 4,269 36,681 3,463 69,578 594 70,172 j 72,974 | 1,715 162 3,254 -3,254 3,393 9,299 878 17,639 594 18,233 19,396 1,814 171 3,441 -_ 3,441 3,602 2,789 263 5,290 -5,290 5,450 2,788 263 5,288 -5,288 5,405 1,936 183 3,672 -3,672 3,791 5,924 559 11,237 -11,626 1,338 126 2,537 __ 2,537 2,587 12,462 ! 173 1,003 479 6 72 2,694 8 255 511 4 47 742 28 75 1,160 13 65 1,283 15 51 1,772 17 143 571 15 32 4,738 23,834 5,200 7,441 7,460 5,924 16,500 1,163 39 ! 98,483 _A1^37_ JJOJU Excludes $257 million of securities sold, and scheduled to be bought back, under matched sale- purchase transactions, Includes $65 million securities loaned--fully secured by U.S. Government securities pledged wi th Federal Reserve Banks, Includes assets denominated in foreign currencies. Estimated (Cleveland District). 694 1 ,609 1,455 66 138 152 ~1,317 ~ 2,760 _ ^052 ---760 ^052 1^317 JLL 1 ,341 2,818 """" 3 ,294 u 512 30 21 804 17 36 2,174 4,104 732 12 55 _ -+ ,366 5,320 502 10,091 -10,091 10,271" 1,202 8 151 i o 1 n/. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 20, 1972 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 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 59,646 3,113 14,743 3,632 4,726 5,281 3,184 10,050 2,316 1,035 2,310 2,280 6,976 25,965 1,145 271 546 27,927 8,547 1,043 52 12 — 1,107 415 6,513 171 1/ 82 487 7,253 1,223 963 66 13 7 1,049 403 1,711 74 23 1 1,809 705 1,053 130 13 11 1,207 832 1,628 85 17 6 1,736 852 4,498 154 38 5 4,695 1,385 739 82 9 * 830 411 615 43 6 2 666 420 964 78 11 4 1,057 632 1,392 78 14 4 1,488 479 4,846 132 33 19 5,030 790 591 96,711 26 4,661 152 23,371 28 5,112 45 7,285 43 7,363 33 5,805 92 16,222 21 3,578 14 2,135 31 4,030 25 4,272 81 12,877 33 34 10 206 193 64 39 38 11 71 68 17 42 38 17 55 50 14 124 111 43 27 25 8 18 17 4 33 32 9 43 41 10 99 95 33 98,483 4,738 23,834 5,200 7,441 7,460 5,924 16^500 _3,63_8__2.174_ 4,j.04 4,366 13,104 180 8 2/ 47 9 17 9 12 790 742] 240 : 6 27 4 8 10 23 1,069 2,390 2,404 7,378 1,080 1,080 2,450 2,450 2,430 2,435 7,600 7,600 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 62,011 2,511 60,625 63,136 3,273 15,331 250 3,060 15,450 3,310 15,450 3,730 4,917 5,402 600 350 451 3,300 3,900 4,700 5,050 5 ,,025 5,476 \J After deducting $ 189 million participations of other Federal Reserve Banks. 2_/ ** After deducting $ 133 million participations of other Federal Reserve Banks. Estimated (Cleveland District). 3,369 3,500 3,500 10,328 2,420 700 155 9,700 10,400 2,330 2,485 * Less than $500,000.
@FedFRASER