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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release February 1, 1973 The average of daily figures for total reserves of member banks in the latest statement week of $32,548 million showed little change from the previous week. Required reserves declined while excess reserves and member bank borrowings at Federal Reserve Banks increased. A more than seasonal decline in float and increases in both Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital were the major factors absorbing reserves in the latest statement week. A decline in currency in circulation was the only factor supplying a significant amount of reserves. In addition, System Open Market operations provided $884 million of reserves net, on a weekly average basis through outright purchase of Treasury bills and through repurchase agreements. Member bank borrowings a^erag.d $1,311 million and exceeded excess reserves by $877 million compared to $1,080 million for the previous week. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securitiesBought outright--System account Held under repurchase agreements Federal Agency obligations-Bought outright Held under repurchase agreements Acceptances-Bought 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 2/ Required reserves Excess reserves 2/ Averages of daily ifigures Week,ended Change from week ended Wednesday, Jan. 31, Jan . 24, Feb. 2, Jan. 31, 1973 1973 1972 1973 (Irl millions of dollars) 71,032 571 + + 1,311 43 788 44 +1,316 + 571 1/ 71,133 889 -33 + + 663 43 1,311 61 + + 5 39 82 59 81 39 + + 1 18 1,311 + 216 +1,295 1,640 1,374 77,401 10,410 400 8,331 l 'b,54l 64,233 377 2,671 278 635 2,535 70,730 -1 ,226 9 - 136 --+ 5 - 132 - 576 + 5 + 368 28 21 + + 124 86 - -1,151 + 95 +2,875 + 278 -+ 619 +3,770 +^,838 - 131 - 382 + 112 - 120 + 217 4^,536 25,812 6,457 32,548 32,114 434 . 45 + 44 1 - 420 + 419 - 764 + 598 + 113 76 + 189 | 1 1 1,310 2,269 1,345 78,459 10,410 400 8?331 97,600 64,325 373 2,747 310 668 2,577 71,000 26,600 6,457 33^31? 32,114 1,222 NOTE: A net of $27 million of surplus reserves were eligible to be carried forward from the week ended January 24, into the week ending January 31. On January 31, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,155 million, a decrease of $390 million for the week. \J 2./ Includes $54 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Adjusted to include $279 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 0, 1972. The adjustment amounted to $4^0 million from November 9, through December 27, Estimated (Boston, Philadelphia and Cleveland Districts). CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Jan. 31, Jan. 24, Feb. 2, 1973 1972 1?73 ASSETS -10,303 Gold certificate account + 428 * --Special Drawing Rights certif. accts. 400 Cash (1,833) 350 2 + 41 + - 698 Loans 1,310 +1,285 — Acceptances--Bought outright 9 82 + -Held under repurchase agreements 59 + 59 .Federal Agency obligations — Bought outright 1,311 + 668 Held under repurchase agreements 61 + 34 + 61 U. S. Government securities: Bought outright — Bills + 693 + 676 30,989 Certificates 36,681 + 776 Notes + 112 Bonds 3,463 Total bought outright y +1,581 71,133 + 676 Held under repurchase agreements 889 + 889 - 614 72,022 + 62 +2?470 Total U.S. Government securities - 602 +4,552 74,845 Total loans and securities (1,798) - 614 -2,639 8,267 Cash items in process of collection — + 42 Bank premises 194 1,151 8 Other assets 1) - 177 +2,416 TOTAL ASSETS 95,510 (3,631) -1,391 H.4.1(a) LIABILITIES. 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 C A P I T A L A C £ 0 U N T £ Capital paid in Surplus Other capital accounts (1,833) 56,610 26,520 2,747 310 668 (1,798) 30,245 6,078 (3,631) 93,611 678 797 793 309 - 292 -1,693 + 540 + 46 + 75 -1,032 - 185 + 48 -1,461 •m mm -- «- 70 +4,264 + 404 - 426 + 138 - Ill + 5 -2,079 + 122 +2,312 + + + 45 51 8 Contingent liability on acceptances purchased for foreign correspondents 198 1 55 * Figures in parentheses are the eliminations made in the consolidating process. ** Estimated (Boston, Philadelphia and Cleveland). 1/ Includes $54 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2y Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 31, 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 Accept U. S. Government Loans obligations -ances securities Holdings Weekly Holdings Weekly changes Changes 7,277 +553 Within 15 days 1,307 80 61 +34 15,674 16 days to 90 days -911 55 +15 3 61 91 days to 1 year +420 16,933 -10 199 — Over 1 year to 5 years 24,484 597 - 5 --Over 5 years to 10 years 6,108 269 Over 10 years -— 1,546 191 Total 72,022 + 62 1,310 141 1,372 +34 H.4.Hb) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 31, 1973 Total Boston- Philadelphia New York Cleveland 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. 10,303 400 F.R. notes of other banks Other cash 1,833 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 1,310| Cash items in process of collection Bank premises Other assets 27 TOTAL ASSETS 350 690 23 3,124 161 23 864 33 1,021 36 95 22 1,932 93 70 489 15 344 7 439 15 243 14 901 49 228 17 310 21 110 12 120 40 171 41 274 46 153 43 47 24 36 5 29 43 75 16 280 42 64 287 27 28 45 95 200 62 20 15 172 295 82 59 82 59 1,311 61 58 341 61 67 97 96 76 206 48 26 54 61 181 30,989 1,379 8,059 1,581 2,306 2,266 1,788 4,864 1,131 623 1,283 1,434 4,275 36,681 3,463 71,133 889 72,022 74,845 1,632 154 3,165 1,872 177 3,630 2,730 258 5,294 2,682 253 5,201 2,116 200 4,104 5,758 543 11,165 1,339 126 2,596 737 70 1,519 1,697 5,060 144 160 478 1,430 2,946 3,291 9,813 3,165 3,287 9,539 900 18,498 889 19,387 20,217 3,630 3,724 5,294 5,419 5,201 5,342 4,104 4,275 11,165 11,571 2,596 2,706 1,430 1,476 2,946 3,015 3,291 3,524 9,813 10,289 10,065 194 1,151 410 29 55 1,482 7 285 1,069 5 63 827 27 95 823 13 81 1,119 15 70 1,324 16 172 417 15 38 382 30 27 627 17 44 529 12 52 1,056 8 169 99,141 4,739 25,539 5,167 7,425 7,528 5,916 15,281 3,751 2,307 4,229 4,463 12,794 1/ II Includes $54 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. * Estimated (Boston, Philadelphia and Cleveland Districts), h.4.1(c; STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 31, 1973 | * 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 58,443 3,062 14,573 3,576 4,661 5,197 3,034 9,751 2,273 1,028 2,260 2,222 6,806 26,520 2,747 310 668 30,245 7,876 991 173 11 1 1,176 391 7,733 684 1/110 ~ 603 9,130 1,161 875 179 13 5 1,072 394 1,503 241 25 -1,769 780 1,248 208 14 6 1,476 704 1,668 159 19 8 1,854 859 3,784 157 43 10 3,994 1,136 813 206 9 5 1,033 358 682 167 6 1 856 364 1,071 225 11 3 1,310 554 1,484 176 15 5 1,680 435 4,668 172 34 21 4,895 740 678 97,242 29 4,658 179 25,043 32 5,074 49 7,259 44 7,421 42 5,789 99 14,980 22 3,686 18 2,266 27 4,151 29 4,366 108 12,549 797 793 309 33 34 14 207 207 82 38 39 16 72 72 22 42 42 23 56 55 16 127 124 50 27 27 11 18 18 5 34 33 11 43 43 13 100 99 46 99,141 4,739 25.539 5.167 7.425 7,528 5,916 15,281 3.751 2,307 4.229 4.465 12,794 198 8 2/ 51 10 18 10 14 31 7 5 8 11 25 1,070 2,380 2,384 7,359 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 61,931 3,281 2,021 210 61.625 63,646 3.090 3,300 15,503 15.850 15,850 3,676 4,888 5,437 100 350 501 3.600 3,700 4.700 5,050 5.025 5,526 1/ After deducting $200 million participations of other Federal Reserve Banks, 2/ After deducting $ 147 million participations of other Federal Reserve Banks. 3,328 3.500 3,500 10,225 2,400 700 155 9.900 2.330 10,600 2,485 * 5 1.100 1,100 2.450 2,450 2.480 2,485 7.600 7,600 Estimated (Boston, Philadelphia and Cleveland Districts).
@FedFRASER