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FEDERAL RESERVE
f actors Affecting Bank Reserves and
Condition St-i^ment of F n Banks
For immediate release
December 27, 1973
The average of total reserves of member banks increased
by $426 million in the latest statement week to $35,554 million. Required
reserves and excess reserves increased while member bank borrowings at
Federal Reserve Bank'- dec: lined.
Major factors absorbing reserves in the latest statement week
were increases in currency in circulation, foreign deposits and Treasury
deposits with Federal Reserve Banks, and other Federal Reserve liabilities
and capital. More than offsetting these reserve drains was a more than
seasonal increase in float. In addition, System Open Market Operations
provided $609 million reserves net, on a weekly average basis through outright purchase of T-reasnry Bills and repurchase agreements. Some reserves
were ahnorb^d lare In the week through, matched sale-purchase transactions.
Member D.*IIK. r^ser- Reservt Par.1- ^rr^ •
and r e l a t e d ite;j\s
R e s e r v e Bank crcdi»
U . S . G o v e r n m e n t «j. - <ir i • ->s -•
Bou gh t on r r i gh r - 3 v r i em a c... on n t
H e l d u n d e r r i p»i* .-ha* *? a g r e e m e n t s
Fed e r a 1 A g e n e y o K i«:<? « o n s - •
B o u g h t c*Jitrip.hi
H e l d a n d e i rt'yLM..»df!t' agy e ^ - e n r s
Acceptances • Bought o u t r i g h t
Held jnder rppiu-.aasi- agreements
Loans-*
T o t a l member <•*,<•,*' b o r r o w m*?.
I n c l u d e s -?eao ».,al b o r r o w i n g of
O t h e r h o r i <•«*< in*
Float
Oih- \
M ^ ...-.r*e
T( f a J p p h " 1 ,/<r-cin
;-c!J
- , <K k
S p e c J - i L ' r ^ w j n t-
r>
»' r-
i
60
161
r* i >r r i j>n i i ' r>-\> A S
Jb>p> »• i f ; v
d t W
r ^
* ,. r l .
Jtbel
^."tnb^x b a n k J e-set
W i t h F e d e r a i P»*.ui „ e n . > t , r , '
1 T -i , r ' .i - r v f
' - c f i n * ! ;-**-> r-
: f h r •: . r-nu^
- .R B a n k s ' s
» -s *
' - id ( K O , •-• 1
J^i\Uit
490
30
....
4
+
+
„ •
4,919
t , 109
87,378
11 , 5 6 7
6
87
+ 8,088
j
697
1/2/74,942
508
148
1,798
10
161
61
76
35
485
20
r
f
?-
..
447
1,042
35
--.
„ ™
+1,664
4
72
41,89*
_~
--
400
£_
1
. -
-»4.
1,798
14P,
v^.»*l7
/p j v o ?
328
j ;
I r-^si v
r -T.AS.
77,4*4
697
ecu l •
«-d;n,.-
TienlM
C t'. r x e rc \
A v e r * g e s _ _ o f _ d a i _ l y f i gu r e s
Week e n d e d C h a n g e f r o m we e k e n d e d W e d n e s d a y ^
Dec. 2 6 , * Dec. 1 9 ,
" Dec r~Tf\, D e c . 2 6 , *
1973
1973
1973
:L972
"~Tlr i m i l l i o n s of d o l l a r s )
j
VV{
;
f
:>?o
f>
i
5 7'*
283
77
+ 9,722
4- 1 , 1 5 7
+
--.
+
373
4-117252
+ 5,627
i pi
4-
539
*
1 " 'i
' J
+
2rii
/ i2
4.
054
i-
I3 I
+
121
669
7,189
«
/•v>
V)
-'«?'>
±
f i!
2 b , yo '
i.,508
3», r i 7 »4
f
!' 4J-" 13*
J „
NOT"
4,063
416
3,697
-'---
»„
7,331
1,130
85,747
11,567
400
8,675
106,3*9
72,529
?21
2,716
729
71 *>
3,072
p0,08 3
26,305
_6,50R„
32,P°S
3/sp/-9
-2,0^1
o* ? « 5 M
- : | j o f .r s ' u p i u s r e ^ ' . \ ^ ^ wer.-> e i ' ^ i f i . J:O h« c a r r i e d f o r w a r d
J «^i ^ l i.* w e e r >*ndr-d l i e . timber ! ^ , 1 9 7 3 , i n t o t h e w e e k e n d i n g D e c e m b e r 2 6 .
.'i> "•< ^.nbp* ?ft , 19"7*** . t ^ r k e t n b l e I j . ^ r G o v e r n m e n t s e c u r i t i e s h e l d i n c u s t o d y
oy rj.fe ^ e d ^ r : > I : c.*^! /e B a n k s :«»r f o r o u " i a n d i nl e i n a t i oe i J a c c n u n t i s w e r e $ 2 6 , 7 5 2
initio..
cs d*-cr«-s{-- s£ 3"..)3 w 1 1 r o n ! ^r t h e w ^ e V .
S /
" * . 1 1 ; .in -T ? p r m ' : i f s - o l d , a n i « r h e d « i 3 e d t o be b o u g h t b a c k ,
a U-~pi t c h * >e t r ^ o s s c t i"t^*.
r> , - T i r ^ f j T f t i P s
' o f l n ^ ' b - ' i i M y ^ e r u r e a by !J .- , ( v o v e r n m e n t
r'err. r f *
i. "t£.p<3 wit*- f e d e r a l ^ s f i u - Banl*s.
.Ad jij*w ^'d
"e *' p 4 m i l l i o n o f f ^ r t ' M n r ^ s o r w Jf f i e i e n c j e s o n w h i c h p e n a l t i e s
- r s : a n c . ; t ' o n . p e r i o d i n / o n n ^ c r i o n w i t h ba^.k a d a n t a t i o n t o
..'..j.ided i . ' i ^ c t i v , - [vT-vem^.-, \ 1 9 7 2 .
. n ' ndf» -»
• •• of c e r t a i n tf^p^^j, -> pj i r . ^ . . t . - , nnn-rr.e'nh'a b a n k s a n d f o r e i g n , , - i ' U J i o n ^ t s e j d w i t h me-.^b r b^nVs ; i u l r c d e p o s ? t e d i n f u l l w i t h
-n«" i n e n n e r f i ^n v ' i v v<"l"~*aTy p a r t i c i p a t i o n b y r».or«-member i n s t i v : , : p « ,f*r-'o S"sr< V * z 4 *.-'. "» o»" c r e d i t ^ " . t r a i n t : .
Pb-* l a ^ ^ i ' ^ b i a
M^v^i,«,-.', Kicnmo^i
A t l ^ n r q , f!h i c**°,d;> T l ^ l l ^ ^
* • >fri rt'» > .
CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS
(In millions of dollars)
Change since
Wednesday
Dec 27,
Dec. 26,** Dec. 19,
1972
1973
1973
A S S E T S
...
+ 1 ,157
11,460
Gold certificate account
—
-400
Special Drawing Rights certif. accts.
26
5
284
( 921)
Cash
950
-1,083
485
Loans
8
+
8
61
Acceptances--Bought outright
_-- 187
Held under repurchase agreements
-'- 487
1,798
Federal Agency obligations--Bought outright
-—
- 419
Held under repurchase agreements
U.S. Government securities:
-2,533
+ 5,394
33,484
Bought outright--Bills
Certificates Other
+ 1,628
4- 50
Notes
38,309
—
314
Bonds
3,149
+ 6,708
74,942
-2,483
Total bought outright
1/ 2/
--2,323
—
Held under repurchase agreements
+ 6,708
Total U.S. Government security,es_
-4j.C06
74,942
Total loans and securities
+ 6,237
77,2*6
-6,487
Cash items in process of collection
+2,234
+ 2,735
13,099
(1,726)
Bank premises
-.+
49
222
Other assets _3/
138
+
67
908
TOTAL ASSETS
+10,014
-4,191
103,659
(2,647)
H.4.1(a)
k I A 1 I k I 1 I I S.
Federal Reserve notes
Deposits: Member bank-reserves account
U. S. Treasurer--general account
Foreign
Other tjj
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
(
921)
(
(
103)
103)
(2,647)
64,352
26,226
2,716
729
716
30^387
5,848
1,049
101,636
+ 411
-5,476
+ 624
+ 446
+
46
-4,360
- 3? 8
+
1
-4,276
838
793
392
—_
-85
'-
+ 5,100
+ 3,710
+
452
+
433
+
59
+ 4,654
413
+
475
+ 9,816
+
+
+
46
51
101
Contingent liability on acceptances
purchased for foreign correspondents
609
7
+
435
* Figures in parentheses are the eliminations made in the consolidating process.
1/ Excludes $2,945 million of securities sold, and scheduled to be bought back,
unrUr matched sale-purchase transactions.
2/ Includes $108 million securities loaned--fully secured by U.S. Government
securities pledged with Federal Reserve Barks.
3/ Includes assets denominated in foreign currencies.
4/ Includes $44 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 (New York,Philadelphia,Cleveland,Richmond,Atlanta,Chicago,Dallas and
San Francisco Districts).
MATURITY DISTRIBUTION OF LOANS AND_SECURITIES DECEMBER _ 26 ^J973__
(Acceptances and securities held under i-enurcha^e a^ree^ent^ are cla <3sified as
r^pf the^a agreements.)
maturing within 15 days in ac:cordance \
Federal Apency
U. r>. Gove rn*T»ent
e^1iRations
securities
AcceptLo^ns
Hol^Jn^
Weekly
foldings Weekly
ances
lchanges_
charges
18""""
-5,130
2,215
-410
19
475
Within 15 days
- 1
19,372
2
114
16 days to 90 days
42
10
--+ 326
91 days to 1 year
282
-21,099
22,901
Over 1 year to 5 ye~rs
--.,-.
733
--7,W3
—
424
—
Over 5 years to 10 yeari3
-—
227
-Over 10 years
1*762
-419
Total
-4,806
74,942
1,798
Ti
485
_
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 26, 1973
H.4.100
Total
Boston
New *
York
Phila- *
delphia
Cleveland *
Richmond
Atlanta
«u •
*
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.
11,460
400
759
23
1,126
93
1,061
23
812
33
1,457
36
818
22
2,482
70
747
15
188
7
539
15
939
14
532
49
F.R. notes of other banks
Other cash
921
284
80
16
185
20
33
4
56
33
70
28
146
40
55
34
34
19
18
11
46
33
68
14
130
32
Loans
Acceptances:
Bought outright
Held under repurchase agreements
Federal Agency obligationsBought 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
485
3
34
18
10
83
129
48
25
13
49
34
39
61
__
—
61
—
—
—
--
—
—
—
—
—
—
—
--
—
—
---
_--
—
--
-~
--
1,798
84
459
96
139
133
99
287
63
36
68
78
256
--
--
—
—
—
—
--
--
—
—
—
—
—
1,794
2,581
1,840
5,350
1,179
Cash Items in process of collection
Bank premises
Other assets 3/
TOTAL ASSETS
_1/
27
37
*
33,484
1,571
8,539
2,474
666
1 ,447
4,769
--
--
--
--
-_
--
_-
--
--
-«
--
-«
--
38,309
3,149
74,942
1,797
148
3,516
9,770
803
19,112
2,052
169
4,015
2,953
243
5,777
2,830
233
5,537
2,105
173
4,118
68120
503
11,973
1,349
111
2,639
762
62
1,490
1,458
120
2,852
1 ,656
136
3 ,239
5,457
448
10,674
--
--
_-
--
--
--
74,942
; 77,286
3,516
3,603
19,112
19,666
4,015
4,129
5,777
5,926
5,537
5,753
4,118
4,346
11,973
12,308
2,639
2,727
14,825
908
387
44
37
3,089
10
240
694
10
40
805
27
59
1,409
14
75
1,223
15
_48
3,897
16
112
542
14
.-37
517
35
23
106,306
4,949
24,429
5,994
7,751
8,842
6,658
18,974
4,135
2,338
1
1,274
222
--
—
-„
„„
--
Excludes $2,945 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions.
Includes $108 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks.
Includes assets denominated in foreign currencies.
Estimated (New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, Dallas, and San Francisco Districts),
1,490
2,852
1,539 "__.2,969
—
--
3 ,239
3 ,351
10,674
10,969
581
17
28
704
12
44
977
8
165
4,228
5 ,146
12,862
H.4.1(c)
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 26, 1973
Total
Boston
New * Phila- CleveYork delphia land
*
*
Rich•k Atlanta Chicago
mond
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 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 forei
correspondents
65,273
3,247
16,002
4,080
5,240
5,842
3,556
10,935
2,603
1,171
2,533
2,489
7,575
26,226
2,716
729
819
30,490
7,471
1,055
197
30
9
1,291
282
5,008
587
1/197
550
6,342
1,280
1,154
135
35
18
1,342
420
1,566
144
66
15
1,791
470
1,363
369
38
38
1,808
982
1,877
215
50
12
2,154
750
6,018
369
113
115
6,615
950
1,014
135
24
2
1,175
255
593
121
17
2
733
368
993
79
30
5
1,107
471
1,718
223
39
7
1,987
522
3,867
142
90
46
4,145
721
1,049
104,283
44
4,864
283
23,907
51
5,893
76
7,577
90
8,722
57
6,517
157
18,657
33
4,066
20
2,292
36
4,147
41
5,039
161
12,602
838
793
392
34
34
17
214
207
101
42
39
20
74
72
28
47
42
31
62
55
24
131
124
62
28
27
14
20
18
8
35
33
13
46
43
18
105
99
56
106,306
4,949
24,429
5,994
7,751
8,842
6,658
18,974
4,135
2,338
4,228
609
25
2/159
30
55
32
43
96
21
14
25
33
76
2,646
2,630
8 ,044
5,146,, 12,862
FEDERAL RESERVE AGENTS' ACCOUNTS
F. R. notes outstanding
Collateral for F. R. notes:
Gold certificate account
U. S. Government securities
Total collateral
1/
\l
3/
k
67,680
3,376
2,555
175
66,245
68,800
3,230
3,405
16,593
16,850
16,850
4,162
5,431
5,982
400
350
750
3,800
4,200
5,200
5,550
5,290
6,040
3,782
3,900
3,900
11,125
2,705
700
175
10,600
11,300
2.580
2,755
1,204
5
1.240
1,240
2.700
2,700
2r655
2,660
700
8 200
After deducting $532 million participations of other Federal Reserve Banks.
After deducting $450 million participations of other Federal Reserve Banks.
Includes $44 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 (New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, Dallas, San Francisco Districts).
@FedFRASER