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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release December 6, 1973 The average of daily figures for total reserves of member banks increased $418 million in the latest statement week to $34,784 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. A decline in float was the major factor absorbing reserves in the latest statement week. Partially offsetting this reserve drain was a decline in foreign deposits with Federal Reserve Banks. In addition, System Open Market operations provided $710 million reserves net, on a weekly average basis, 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 3/ Other F.R. liabilities and capital Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held 2/ Recmired reserves Excess reserves 2/ Averages of daily figures Week ended Change from week ended Wednesday, Dec. 5, Dec. 5, Dec. 6, Nov. 28, 1973 1973 1973 1972 (In millions of dollars) 76,422 1,138 187 713 + 6,811 + 607 1,810 162 15 105 + + 1/ 76,393 1,221 633 146 1,810 215 3 61 19 46 43 135 1,477 57 189 27 57 686 45 2,377 942 84,448 11,567 400 8,661 105,076 70,493 334 1,884 440 670 2,958 76,780 893 71 78 126 120 + 8,866 + 1,157 80 9 5 31 211 14 •no, 'oi 45 74 + 378 98 226 + j,318 15 + 786 + 199 + 59 + 448 + 6,796 3,675 970 85,148 11,567 400 8,664 105,779 70,977 333 1,705 369 716 2,720 76,820 28,960 + 3,606 307 6,403 + 535 111 35,447 + 3,775 + 418 34,475 + 3,802 + 126 972 27 309 + 292 NOTE: A net of $78 million of surplus reserves were eligible to be carried forward from the week ended November 28, into the week ending December 5. On December 5, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,489 million, an increase of $531 million for the week. 1/ Includes $q4 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 penalities can be waived for a transition period in connection with bank adaptation to Regulation J as amended effective November 9, 1972. 3/ Includes $42 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. 28,297 6,403 34,784 34,475 H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Nov. 28, Dec. 6, Dec. 5, 1972 1973 12Zi_ A S S E T S Gold certificate account 11,460 -- 4-1,157 Special Drawing Rights certif. accts. * 400 — — Cash ( 986) 294 3 19 Loans 686 - 800 + 412 Acceptances—Bought outright 43 19 -Held under repurchase agreements 135 + 118 + 116 Federal Agency obligations—Bought outright 1,810 -- + 633 Held under repurchase agreements 215 + 136 + 201 U.S. Government securities: Bought outright—Bills 35,058 - 304 +6,283 Certificates _-_Other Notes ... +1,505 38,186 Bonds 3,149 -- - 449 Total bought outright 76,393 - 304 +7,339 Held under repurchase agreements 1,221 + 341 + 725 Total U.S. Government securities 76,614 + 37 +8,064 Total loans and securities 80,503 -. 509 +9,407 Cash items in process of collection (1,632) 9,246 - 235 - 552 Bank premises 221 + 56 Other assets 2] 749 47 - 235 TOTAL ASSETS (2,618) 102,873 700 +9,814 Federal Reserve notes Deposits: Member bank-reserves account U. S. Treasurer—general account Foreign Other 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES £AZI1AL (986) 62,832 28,880 1,705 369 716 (1,632) 31,670 5,651 (2,618) 101,128 975 + + + + - 314 448 296 147 71 820 115 2 389 +4,868 +4,490 + 517 + 85 + 169 +5,261 - 445 + 295 +9,979 ACCOUNTS Capital paid in Surplus Other capital accounts 837 793 115 1 -- 310 + + - 49 51 265 Contingent liability on acceptances purchased for foreign correspondents 607 + 2 + 418 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $94 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. ^3/ Includes $42 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. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 5. 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 obligations Acceptsecurities Loans Holdings Weekly ances Holdings Weekly Changes changes Within 15 days 645 143 6,895 +136 +1,000 299 16 days to 90 days 41 35 18,297 - 842 89 + 4 91 days to 1 year — -20,238 - 121 276 - 4 Over 1 year to 5 years 22,953 -— -_665 Over 5 years to 10 years 7,469 — — -469 Over 10 years 1,762 — — 227 Total 686 178 77,614 + 37 2,025 +136 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 5, 19/3 H.4.Ub) Total Boston New York Cleveland Philadelphia Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco 0 .n millions of dollars) A S S E T S Gold certificate account Special Drawing Rights certif. acct. ! 11,460 400 606 23 ?,406 93 640 23 947 33 1,013 36 396 22 2,163 70 514 15 108 7 715 15 164 14 1,788 49 F.R. notes of other banks Other cash 986 294 102 17 209 21 36 3 48 34 84 31 142 41 55 33 28 20 19 11 49 34 84 16 130 31 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 \j Hel-d under repurchase agreements Total U.S. Government securities Total loans and securities 686 40 73 61 2 29 177 84 38 8 84 80 10 43 135 ---. 43 135 -_- __ -- -- ___ _„. -_ __ ___ ._ «._ „„ _„ -_ _- 1,810 215 85 462 215 97 139 134 99 289 64 36 69 78 -- -- _- -- __ _« -_ ._ _«. „_ 35,058 1,644 8,941 1,878 2 ,702 2,590 1,927 5,601 1,234 697 38,186 3,149 76,393 ! 1.221 77,614 80,503 Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS -- — 1,792 148 3,584 -- — — -- — 1 ,516 __ 4,994 -- -- -- -_ _- _._ 6,101 503 12,205 1,345 111 2,690 759 63 1,519 1,453 120 2,907 1 ,650 136 ,302 5,439 448 10,881 -- -- -- 3,584 3,709 4,092 4,250 T6 ,889 ,030 5,644 5,807 4,198 4,474 12,205 12,578 2,690 2,792 1,519 1,563 2,907 3,060 10,878 221 749 479 42 32 1,870 10 201 516 10 72 550 27 50 1,215 14 52 1,220 15 38 1,481 16 100 488 14 22 787 36 15 422 17 26 747 12 28 1,103 8 113 !105,491 5,010 26,441 5,550 7 ,719 8,252 6,348 16,496 3,893 2,546 4,338 4 ,525 14,373 -- 2 ,944 243 ,889 1,334 258 9,738 803 19,482 1,221 20,703 21,631 — 2,046 168 4,092 _.. T -- 2,821 233 5,644 — 2,098 173 4,198 -- — \J Includes $94 million securities loaned- -fully secured by U.S. Government securities pledged with Federal Reserve Banks, 2/ Includes assets denominated in foreign currencies. ~ -— ,302 3 ,460 ..10,881 " 11,149 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON H.4.1(c) Total Boston New York Phila- Clevedelphia land Richmond Atlanta DECEMBER 5, 1973 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 IL S_- Treasurer--general account Foreign Other 3/ TotaF deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS 'anital paid in K vr plus r capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS -nt-ngent liability on acct.pta nr i • « purchased f or Ior t •; c or re s pondent s 63,818 3,188 15,739 4,001 5,122 5,708 3,412 10,674 2,539 1,141 2,485 2,410 7,399 28,880 1,705 369 716 31,670 7,283 1,181 126 15 4 1,326 383 7,862 279 1/110 586 8,837 1,132 896 97 17 17 1,027 387 1,864 115 32 1 2,012 359 1,308 230 18 22 1,578 801 1,837 123 24 13 1,997 760 4,201 147 55 28 4,431 976 814 84 12 3 913 351 729 108 8 13 858 487 1,071 97 15 4 1,187 560 1,375 113 19 10 1,517 464 5,742 186 44 15 5,987 623 975 103,746 42 4,939 285 25,993 48 73 66 52 142 31 20 34 39 143 5,463 7,566 8,153 6,221 16,223 3,834 2,506 4,266 4,430 14,15 2 837 793 115 33 34 4 214 207 27 42 39 6 74 72 7 47 42 10 62 55 10 131 124 18 28 27 4 20 18 2 35 33 4 46 43 6 105 99 17 105,491 5,010 26,441 5,550 7,719 8,252 6,348 16,496 3,893 2,546 4,338 4,525 14,373 607 25 2/158 30 55 32 43 95 21 14 25 33 76 FEDERAL RESERVE AGENTS' ACCOUNTS R, notes outstanding •'"lateral for F, R, notes: • d c t r t i f : ' it*- itM'nunl U• S. Government securities Total collateral 1/ 2/ 3/ 66,388 3,352 16,408 4,074 5,320 5 ,859 3,618 10,900 2 ,639 1,183 2,609 2,580 7,846 2,485 175 -. 350 350 750 -- 700 155 ._ -. 3 -- 65,225 3,210 16,650 3,800 5,200 5 ,145 3,700 10,400 2 ,570 1,220 2,700 2,630 8,000 67,710 3,385 16,650 4,150 5,550 5 ,895 3,700 11,100 2 ,725 1,220 2,700 2,635 8,000 After df.'.i i^.u - 259 million participations of other Federal Reserve Banks. Aftei dt-uu >nh ^449 •• i ; : ivn participations of other Federal Reserve Banks. Includes..> , rLlli*n ^f^'rtiin deposits of domestic non-member banks and foreign-owned banking institutions held with member banks and A redeposited m full with Federal Reserve Banks in connection with voluntary participation by non-member institutions inmemoer names Reserve ana the Federal System s program of credit restraint.
@FedFRASER