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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release January 18, 1973 The average of daily figures for total reserves of member banks increased $1,526 million in the latest statement week to $33,991 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. A more than seasonal decline in float was the major factor absorbing reserves in the latest statement week. Partially offsetting this reserve drain was a decline in currency in circulation. In addition, System Open Market operations provided $341 million reserves net, on a weekly average basis through repurchase agreements. Member bank borrowings averaged $1,301 million and exceeded excess reserves by $1,009 million compared to the revised figure of $605 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 AcceptancesBought outright Held under repurchase agreements LoansMember bank borrowings Other Float Other F.R. assets Total Reserve Bank credit Gold stock Special Drawing Rights certif. acct. Treasury currency outstanding Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held 2/ Required reserves ~~ Excess reserves 2/ NOTE: Jan. 17, 1973 70,244 374 Jan. 10, Jan. 19, 1972 1973 (In millions of dollars) + 1,311 20 18 324 Jan. 17, 1973 + 334 - 173 70,305 606 + 661 3 1,311 53 + 1 - 53 78 70 14 1/ 78 25 + + 2 19 1,301 + 610 +1,287 1,073 3,746 1,311 78 • 410 10 ,410 + + 757 35 228 -- + 393 + 130 4-2,577 + 278 2 ,325 70,748 + 5 + 233 - 527 16 + 43 4 + 67 71 + " 546 + 670 +3 ,525 +5 ,271 - 120 - 851 + 143 - 131 + 115 +4 ,427 4,386 1,385 79,267 10,410 400 8,320 98,397 65,332 376 1,842 288 633 2,361 70,832 26,792 6,920 33,991 33,699 292 + 779 + 747 "hi,526 4-1,320 + 206 _ + + + •f 27,566 6,920 34,765 33,699 1,066 400 8 ,319 97 ,539 65 ,496 366 i—i 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 Averages of daily figures Week ended Change from week ended Wednesday, ,664 291 606 ml 902 949 326 252 74 A net of $105 million (est.) of surplus reserves were eligible to be carried forward from the week ended January 10, into the week ending January 17. On January 17, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,568 million, a decrease of $45 million for the week. U Includes $49 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve. Banks. 1) 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 (Cleveland District). CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars-) H.4.1(a) Wednesday Jan. 17, 1973 A S S E T S Gold certificate account Special Drawing Rights certif. accts. 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 Notes Bonds Total bought outright 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 k I h. 1 Ik II I1L 1 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 * (1,558) 400 330 1,073 78 70 -- + 13 + 242 2 + + 70 1,311 53 + — 53 428 — + 47 +1,049 + 1 + 6 + 661 + 22 30,161 107 36,681 3,463 70,305 1/ 606 70,911 73,496 (2,024) 11,475 194 1,191 (3,582) 97^389 -— + 107 + 606 + 713 +1,080 + 893 -+ 83 +2,069 + 776 + 112 + 394 - 253 + 141 +1,880 - 610 + 42 + 120 +1,907 (1,558) 57,610 27,486 1,842 288 633 30,249 (2,024) 7,169 609 (3,582) 95,637 - 580 +1,810 - 119 17 - 212 +1,462 +1,096 + 25 +2,003 +4,679 - 506 - 649 + 161 - 145 -1,139 -1,760 + 44 +1,824 + + + 796 793 163 Contingent liability on acceptances purchased for foreign correspondents 199 I! * + 10,30.3 £ A L I 1 A L A C C O U N T S Capital paid in Surplus Other capital accounts 1/ Change since Jan. 10, Jan. 19, 1973 1972 + 2 -64 10 - 494 48 51 16 54 Includes $49 million securities loaned--fully secured by U. S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Figures in parentheses are the eliminations made in the consolidating process. Estimated (Cleveland District.) MATURITY DISTRIBUTION OF LOANS AND SECURITIES, January 17, 1973Q (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 Loans securities Holdings Weekly Holdings Weekly Changes changes Within 15 days 1,073 5,728 +1,130 90 53 +53 16 days to 90 days 16,634 58 - 556 40 -91 days to 1 year 16,411 — -+ 139 199 Over 1 year to 5 years 24,484 --612 -Over 5 years to 10 years 6,108 — __ -269 Over 10 years — 1,546 — — — 191 Total 1,073 70,911 1,364 148 713 +53 H.4.Ub) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 17, 1973 1 Total Boston New York Philadelphia Cleveland * Richmond St. Atlanta Chicago Louis (In millions of dollars) Minneapolis Kansas City Dallas San Francisco 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 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/ * [ 291 23 2,627 93 375 23 822 33 764 36 271 22 1,956 70 382 15 187 7 435 15 471 14 1,722 49 1,558 330 198 16 269 20 76 11 92 38 151 39 234 43 148 43 44 23 31 5 35 42 65 14 215 36 1,073 36 91 35 77 15 76 457 58 33 11 1 183 [ 78 70 --- 78 70 --- --- -_- --- — -- — -- --- --- --- --- | 1,311 62 -- 332 53 72 — 98 — 98 — 72 — 211 -- 47 -- 26 — 52 — 57 -- 184 -- | 30,161 1,417 7,648 1,659 2,257 2,253 1,656 4,853 1,084 591 1,189 1,317 4,237 36,681 3,463 70,305 606 70,911 73,496 1,724 163 3,304 — 3,304 3,402 9,302 878 17,828 606 18,434 19,058 2,018 191 3,868 — 3,868 3,975 2,746 259 5,262 — 5,262 5,437 2,741 259 5,253 -5,253 5,366 2,013 190 3,859 -3,859 4,007 5,901 557 11,311 -11,311 11,979 1,318 124 2,526 -2,526 2,631 718 68 1,377 — 1,377 1,436 1,446 137 2,772 — 2,772 2,835 1,602 151 3,070 — 3,070 3,128 5,152 486 9,875 — 9,875 10,242 13,499 194 1,191 596 29 54 2,575 7 290 687 5 63 925 27 91 1,134 13 80 1,583 15 66 1,860 16 174 655 15 38 527 30 29 833 17 43 749 12 63 1,375 8 200 [100,971 i 4,609 24,939 5,215 7,465 7,583 6,241 16,246 3,803 2,252 4,255 4,516 13,847 ! | 1/ ~~ 10,303 400 53 Includes $49 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks, Includes assets denominated in foreign currencies. Estimated (Cleveland District). H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 17, 1973 New Total Boston York Phila- Clevedelphia landA Richmond St. 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 59,168 3,086 14,710 3,610 4,724 5,250 3,107 9,896 2,299 1,037 2,289 2,255 6,905 27,486 1,842 871 91 11 — 973 448 7,464 970 72 13 5 1,589 1,171 1,627 4,235 5,455 148 18 8 230 41 11 60 11 3 80 14 7 158 32 19 8,577 1,029 1,060 1,784 1,382 5,664 813 4,517 1,463 1,625 759 1,801 1,176 1,188 426 628 79 6 1 714 446 1,524 190 13 8 838 91 9 26 964 460 1,114 171 24 — 682 518 973 288 633 30,249 9,193 472 1/ 96 545 609 99,219 28 166 33 44 43 37 92 20 16 23 25 82 4,535 24,482 5,129 7,311 7,488 6,121 15,968 3,743 2,213 4,182 4,423 13,624 796 793 163 33 34 7 207 207 43 38 39 9 72 72 10 42 42 11 56 55 9 126 124 28 27 27 6 18 18 3 34 33 6 43 43 7 100 99 24 100.971 i 4.609 24.939 5.215 7.465 7.583 6.241 16r246 3r803 2,252 4,255 4.516 13,847 9 16 9 13 28 6 4 7 10 22 1,071 2,402 2,410 7,403 199 8 2/ 67 FEDERAL RESERVE AGENTS* ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 62,367 3,309 2,261 250 61.625 63,886 3,090 3,340 15,571 3,702 4,924 5,472 300 350 501 15,850 3.6QQ 4,700 5.Q25 3r500 Q,qnn 2,310 1,100 ? }LW 7 tLM\ 7,600 15,850 3,900 5,050 5,526 3,500 10,600 2,485 1,100 2,450 2,485 7,600 — J./ After deducting $192 2j * After deducting $132 million participations of other Federal Reserve Banks. Estimated (Cleveland District) . million participations of other Federal Reserve Banks. 3,361 10,321 2,421 700 155 — — 5
@FedFRASER