The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R Banks H.4.1 For immediate release February 22, 1973 The average of daily figures for total reserves of member banks increased $89 million in the latest statement, week to $31,915 million. Required reserves and member bank borrowings at Federal Reserve Banks declined while excess reserves increased. A decline in other Federal Reserve assets was the only factor absorbing a significant amount of reserves in the latest statement week. Offsetting this reserve drain was a decline in Treasury deposits with Federal Reserve Banks and an increase in float. In addition, System Open Market operations provided $647 million reserves net, on a weekly average basis through outright purchase of Treasury bills and repurchase agreements6 Some reserves were absorbed late in the statement week through matched sales-purchase transactions. Member bank borrowings averaged $1,670 million and exceeded excess reserves by $1,285 million compared to $1,799 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 Acceptances-Bought outright Held under repurchase agreements LoansMember bank borrowings Other Float Other F.R. assets Total Reserve Bank, credit Gold stock Special Drawing Rights cert if. ace Treasury currency outstanding Currency in circulation Treasury cash holdings Treasury deposits with F.R. BaiiKs 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 of daily figures Week ended Change froiri week ended Wednesday, Feb. 21, Fe b. 14, 1 Feb. 23, Feb? 21, 1973 1973 1973 1 1972 (Irl millions c f dollars) 70,772 424 + 4- 1,311 62 83 162 44- 1,670 2,653 662 77,799 10,410 400 8,352 96,961 64,744 385 2,501 270 654 2,430 70,984 25,977 5,659 31,915 31,530 385 -1„ + 199 262 +1,230 4- 424 1/2/70,617 154 -50 4- 527 4- 62 1,311 34 6 130 4- 18 -f 162 76 103 323 4-1,656 393 474 675 124 ».. - 367 4- 88 4-3,799 4- 822 2,879 675 76,242 10,410 400 8,355 95,407 64,877 396 3,358 275 660 2,460 72,026 -„ + + + + „ + + 4- 4- ~ -+- -„ 5 129 71 7 732 20 40 34 600 4- 541 4-5,161 4-5,008 4- 13 + 486 4- 103 4- 62 4- 21.4 4-5,886 728 639 89 102 191 - 725 4- 538 4- 92 - 163 4- 255 I 23,381 5,659 29,319 31,530 -2,211 A net of $74 million of surplus reserves were eligible to be carried forward from the week ended February 14, into the week ending February 21. On February 21, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $33,250 million, an increase of $591 million for the week. \J Excludes $535 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $68 million securities loaned--fully secured by U.S. Government securities pledged with Federal. Reserve Banks. y 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 9, 1972. The adjustment amounted to $450 million from November 9, through December 27. * Estimated (Philadelphia, Cleveland, and Dallas Districts). H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday ** Feb. ; 1, 197. Fe ?97l 4 ' Feb, 23, 1972 ' ASSETS Gold certificate account Special Drawing Rights certif. accts. * Cash (1,481) 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 1/ 2/ Held under repurchase agreements Total U.S. Government securities Total loans and securities Cash items in process of collection (1,676) Bank premises Other assets 3/ TOTAL ASSETS (3,157) 30,277 • 152 36,839 3,501 70,617 154 70,771 72,688 9,171 195 480 91,600 + 158 + 38 + 4"4~ - 440 - 396 -2,826 + 101 - 722 -3,448 + 805 + 136 +1,736 + 154 +1,890 +2,988 -1,668 + 42 8 +2,221 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 57,174 23,301 3,358 275 660 27,594 6,372 652 91,792 - 46 -3,609 + 549 57 + 45 -3,072 - 322 77 -3,517 +4,498 -3,030 +2,219 + 97 + 70 - 554" -1,857 + 129 +2,126 801 793 214 -- C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts (1,481) (6) (6) (1,670) (3,157) 10,303 400 363 393 76 103 1,311 34 — -- + 828 1 -2,372 + 39 + 375 + 13 + 103 + 573 + 34 -- 51 — 7 -- - 69 -- + + + 795 49 51 5 Contingent liability on acceptances purchased for foreign correspondents 2.33 + 11 32 * Figures in parentheses are the eliminations made in the consolidating process. Excludes $535 million of securities sold, and scheduled to be bought back, under 1/ matched sale-purchase transactions. Includes $68 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. y Estimated (Philadelphia, Cleveland and Dallas Districts). ** u MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 21, 1973, (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Accept Federal Agency U. S. Government -ances obligations securities Loans Holdings Weekly Holdings Weekly changes Changes Within 15 days 390 123 4,173 -3,088 52 - 7 16 days to 90 days 3 20,414 + 371 38 56 — 91 days to 1 year 12,466 + 741 199 -Over 1 year to 5 years 28,021 +3,537 618 Over 5 years to 10 years -4,119 -1,989 247 Over 10 years — -1,578 + 32 191 Total 393 179 70,771 - 396 - 7 1,345 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON H.4.Hb) Total Boston New York * Philadelphia Cleveland Richmond Atlanta FEBRUARY 21, 1973 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. nates 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 _1/ 2/ .3/ * 10,303 400 359 23 3,068 93 549 23 709 33 949 36 431 22 2,022 70 451 15 61 7 268 15 14 14 1,422 49 1,481 363 191 20 303 24 62 13 100 41 134 42 217 45 108 44 25 25 25 6 31 44 65 16 220 43 393 22 106 47 12 28 36 29 24 53 19 16 1 76 103 -— 76 103 — — — — — — — — --- -— --- — -- -— --- 1 1,311 34 58 — 341 34 67 -- 97 -- 96 -- 76 -- 206 -- 48 — 26 -- 54 -- 61 -- 181 -- 30,277 1,347 7,874 1,544 2,253 2,214 1,747 4,752 1,105 609 1,254 1 ,401 4,177 -36,839 3,501 70,617 154 70,771 72,688 -1,639 156 3,142 -3,142 3,222 -9,580 910 18,364 154 18,518 19,178 — 1,880 179 3,603 -3,603 3,717 -2,742 260 5,255 -5,255 5,364 -2,694 256 5,164 -5,164 5,288 -2,125 202 4,074 -4,074 4,186 -5,782 550 11,084 -11,084 11,319 -1,344 128 2,577 — 2,577 2,649 -740 70 1,419 — 1,419 1,498 -1,526 145 2,925 — 2,925 2,998 -1 ,705 162 ,268 ~T -,268 ~T 3 ,345 -5,082 483 9,742 -9,742 9,924 10,847 195 480 454 29 23 2,036 7 123 710 5 24 759 27 38 1,120 13 34 1,251 15 34 1,649 16 66 475 15 15 471 31 14 748 17 18 256 12 29 918 8 62 96,757 4,321 24,832 5,103 7,071 7,616 6,201 15,294 3,670 2,113 4,139 3 ,751 12,646 Excludes $535 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $68 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (Philadelphia, Cleveland and Dallas Districts). ~ STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 21, 1973 H.4.1(c) 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 foreign correspondents Phila- CleveRichAtlanta Chicago mond delphia land * * (In millions of dollars) New York 58,655 3,050 14,692 3,600 4,645 5,208 3,001 9,782 2,282 1,036 2,278 2,222 6,859 23,301 3,358 275 666 27,600 8,042 602 146 10 2 760 407 6,610 860 1/ 90 539 8,099 1,403 1,033 146 12 23 1,214 170 1,367 242 23 1 1,633 588 1,093 289 13 15 1,410 852 1,669 423 18 14 2,124 908 3,395 347 39 22 3,803 1,324 715 169 8 1 893 410 505 92 6 2 605 414 1,009 92 11 2 1,114 646 1,124 93 14 6 1,237 168 4,179 459 31 39 4,708 752 652 94,949 28 4,245 165 24,359 31 5,015 49 6,915 45 7,515 43 6,076 98 15,007 23 3,608 17 2,072 26 4,064 29 98 3,656 12,417 801 793 214 33 34 9 207 207 59 39 39 10 72 72 12 43 42 16 57 55 13 127 124 36 27 27 8 19 18 4 34 33 8 96,757 4,321 __6.201__. 15^294 3,670 2,113 4,139 23J 10 24,832 _Jj. 103 _J_jPl\__ Z! 61 n 7,616 12 2J L6__ V St. Louis Minneapolis San Dallas Francisco Boston Total a_ 5_ Kansas City LD_ 43 43 9 100 99 30 3,751 12,646 L3_ 29 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 61,593 3,268 2,241 280 61,320 63,561 3.010 3,290 15,474 15.850 15,850 3,651 4,863 5,415 250 350 501 3,450 3,700 4.700 5,050 4.950 5,451 1/ After deducting $185 1) * After deducting $172 million participations of other Federal Reserve Banks. Estimated (Philadelphia, Cleveland and Dallas Districts). million participations of other Federal Reserve Banks 3,297 3.500 3,500 10,123 2,383 700 155 9.900 10,600 2,330 2,485 1,069 2,363 2,355 7,332 5 1.100 1,100 2.450 2,450 2.480 2,485 7.600 7,600
@FedFRASER