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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release January 11, 1973 The average of daily figures for total reserves of member banks declined $104 million in the latest statement week to $32,439 million. Required reserves increased while excess reserves and member bank borrowings at Federal Reserve Banks declined. Major factors supplying reserves in the latest statement week were a seasonal decline in currency in circulation and a contraseasonal increase in float. System Open Market operations absorbed $150 million reserves net, on a weekly average basis through the maturing of repurchase agreements made in the previous week and matched sale-purchase transactions made in the current week. Member bank borrowings averaged $691 million and exceeded excess reserves by $631 million compared to $1,265 million in 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 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/ NOTE: Averages of daily figures Week ended Change from wee k ended Wednesday, * Jan. 12, Jan. 3, Jan. 10, Jan. 10, 1973 1973 1972 1973 (Iri millions of dc liars) + 701 70,262 50 + 423 - 486 1,311 6 __ 45 + - 5 47 „ 691 - 410 1/ 70,198 -- 661 35 1,311 -- - 2 60 76 -- -1,060 + 674 831 4,483 1,276 78,162 10,410 400 8,314 97,286 66,031 350 1,707 287 673 2,252 71,299 + 497 21 + - 690 -_ -+ 11 - 679 - 522 4 + 8 35 9439 + - 617 + 889 + 151 +2 ,570 + 278 -_ + 680 +3 ,528 +5 ,342 - 123 -1 ,053 + 116 54 + 97 +4 ,324 4,518 1,299 78,233 10,410 400 8,316 97,359 65,937 363 1,961 305 845 2,266 71,677 25,987 6,173 32,439 32,379 60 62 42 - 104 + 322 - 426 _. + - 25,682 6,173 32,134 32,379 - 245 76 6 + - 797 164 354 309 45 A net of $248 million (est.) of surplus reserves were eligible to be carried forward from the week ended January 3, into the week ending January 10. On January 10, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,613 million, a decrease of $216 million for the week. 1/ Includes $30 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Tj 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 (Richmond District). CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday ** Jan. 10. Jan. 3, J a n . 12, 1973 1973 1972 A S S E T S Gold certificate account -10,303 + 428 Special Drawing Rights certif. accts. * --400 Cash + 10 313 + 41 (1,349) Loans 831 58 + 814 Acceptances--Bought outright + 76 4 1 _. Held under repurchase agreements - 121 57 -1,311 Federal Agency obligations--Bought-outright + 661 151 38 -Held under repurchase agreements U. S. Government securities: + 148 • 600 30,054 Bought outright—Bills Certificates 36,681 Notes + 948 3,463 Bonds + 139 1/ 70,198 Total bought outright h 148 + 487 Held under repurchase agreements •2,103 - 119 Total U.S. Government securities 70,198 -1,955 + 368 72,416 -2,281 +1,747 Total loans and securities (1,753) 10,721 - 716 -1,079 Cash items in process of collection -194 + 43 Bank premises Other assets 2/ 1,105 + 25 + 77 TOTAL ASSETS (3,102) 95,452 -2,962 +1,257 H.4.1(a) 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 1,349) 58,190 25,602 1,961 305 ( 60) 845 ( 60) 28,713 (1,693) 6,283 - 569 -2,225 + 913 15 + 132 -1,195 -1,212 +4,684 -1,256 - 147 + 159 + 138 -1,106 -2,414 (3,102) 93,772 •3,026 +1,174 £ A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts 794 793 93 + + -- 2 + + 62 - 51 51 19 Contingent liability on acceptances * JL/ 2/ ** purchased for f o r e i g n c o r r e s p o n d e n t s 189 + 5 - 6 5 F i g u r e s in p a r e n t h e s e s a r e the e l i m i n a t i o n s made in the c o n s o l i d a t i n g p r o c e s s . Includes $30 m i l l i o n s e c u r i t i e s l o a n e d - - f u l l y secured by U. S. Government: securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (Richmond District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, January 10, 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 -ances securities obligations Holdings Weekly Holdings Weekly changes Changes Within 15 days 830 -20 4,598 -2,002 -151 16 days to 90 days 1 56 17,190 94 40 + 8 91 days to 1 year -16,272 + 141 199 - 8 Over 1 year to 5 years ---24,484 612 Over 5 years to 10 years ---6,108 269 Over 10 years — -191 JL.546 — Total 83l 70,198 •1,955 1,311 76 -151 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 10, 1973 Total Boston New York Philadelphia 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. 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 17 Held under repurchase agreements Total U.S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 1/ 2/ * 10,303 400 442 23 1,913 93 574 23 1,051 33 938 36 415 22 2,045 70 355 15 238 1,349 313 184 14 243 18 64 11 80 40 139 35 185 41 126 40 39 21 831 36 59 21 81 46 5 236 76 -- --- 76 -- --- - --- --- --- 1,311 -- 62 -- 332 -- 72 -- 98 -- 98 -- 30,054 1,413 7,621 1,653 2,249 36,681 3,463 | 70,198 — 70,198 72,416 1,724 163 3,300 — 3,300 3,398 9,302 878 17,801 -17,801 18,268 2,018 191 3,862 -3,862 3,955 12,474 194 1,105 456 29 51 3,255 7 274 98,554 4,597 24,071 483 15 349 14 1,500 49 31 4 35 41 55 14 168 34 107 74 4 57 105 --- --- --- --- — -- --- 72 -- 211 -- 47 -- 26 -- 52 -- 57 -- 184 -- 2,245 1,650 4,835 1,080 589 1,185 1 ,312 4,222 2,746 259 5,254 -5,254 5,433 2,741 259 5,245 -5,245 5,389 2,013 190 3,853 -3,853 3,930 5,901 557 11,293 -11,293 11,740 1,318 124 2,522 -2,522 2,676 718 68 ,375 -.375 1 ,475 1,446 137 2,768 -2,768 2,824 1 ,602 151 ,065 -,065 ~T 3 ,179 5,152 486 9,860 -9,860 10,149 508 5 63 662 27 85 1,166 13 77 1,274 15 60 1,562 16 168 527 15 37 500 30 27 701 17 40 709 12 49 1,154 8 174 5,203 7,411 7,793 5,942 15,767 3,685 2 ,312 4,156 4 ,381 13,236 Includes $30 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currenc ies. Estimated (Richmond District). 7 ~T "T ~T H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 10, 1973 Total Boston New York Phila- Clevedelphia land Rich- St. mond ,v Atlanta Chicago 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 59,539 3,108 14,789 3,627 4,735 5,283 3,139 9,960 2,310 1,040 2,302 2,275 6,971 25,602 1,961 305 905 28,773 7,976 860 134 13 3 1,010 380 6,929 264 1/ 83 608 7,884 813 931 110 16 6 1,063 400 1,727 122 27 1 1,877 604 1,214 1,530 3,789 169 45 181 969 121 13 3 141 16 5 224 39 18 1,481 1,778 1,567 5,136 875 4,184 1,264 1,106 897 615 152 7 2 776 442 4,855 161 20 67 778 122 10 1 911 387 1,405 241 16 10 654 424 836 586 96,874 28 4,526 146 23,632 31 5,121 43 7,259 794 793 93 33 34 4 207 207 25 38 39 5 98,554 4,597 24,071 189 9_ 2/ 49 47 34 93 20 16 23 25 80 7,708 5,826 15,501 3,628 2,274 4,085 4,291 13,023 72 72 8 42 42 56 55 126 124 16 27 27 3 18 18 2 33 33 5 43 43 4 99 99 15 5,203 7,411 7,793 5,942 15,767 3.685 2.312 4.156 4.381 13.236 10 17 10 13 28 8 10 24 2,410 2,423 7,423 i 7_ 1_ FEDERAL RESERVE AGENTS 1 ACCOUNTS F. R, notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 62,461 3,313 2,261 250 61,425 63,686 3,090 3,340 15,519 15,650 15,650 3,712 4,926 5,484 300 350 501 3,600 3,900 4.700 5,050 5,025 5,526 1/ After deducting $222 million participations of other Federal Reserve Banks, 27 * After deducting $ 140 million participations of other Federal Reserve Banks. Estimated (Richmond District). 3,383 3,500 3,500 10,370 2,424 700 155 9.900 10,600 2.330 2,485 1,074 5 1.100 1,100 2.450 2,450 2,480 2,485 7.600 7,600
@FedFRASER