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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release January 24, 1974 The average of daily figures for total reserves of member banks declined $1,061 million in the latest statement week to $36,581 million. Required reserves and excess reserves declined while member bank borrowings at Federal Reserve Banks increased. A decline in currency in circulation was the only factor supplying a significant amount of reserves in the latest statement week. This reserve gain was more than offset by a decline in float and increases in Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital. In addition, System Open Market Operations absorbed $458 million reserves net, on a weekly average basis, primarily through redemptions of Treasury bills and matched sale-purchase transactions. Reserves were provided late in the week through repurchase agreements. Member Dank 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 2/ Other F.R. liabilities and capital Averages of daily figures Week ended Chang e from week ended Wednesday, Jan. 23, * Jan. 16, Jan. 24, Jan. 23, 1974 1973 1974 1974 * (In mill ions of d<Dllars) 78,286 97 _. 486 + 28 -. 10 2 7 64 1 -» 5 1,916 1,182 13 3,183 1,273 86,013 11,567 400 8,723 106,702 70,593 363 2,351 398 705 2,956 77,366 + - 193 7 - 418 + 62 - 620 -. -+ 32 - 588 - 621 + 13 + 181 + 80 1 + 106 - 242 4- 8,042 - 430 1/78,592 605 -- 1,909 16 20 65 10 88 13 2,664 + 352 110 + 8,512 + 1,157 -+ 397 3,169 1,306 88,465 11,567 •- + + +10,065 + 5,784 9 + 48 + 92 + 91 ±_ 545 + 6,550 678 72 15 400 8.723 109,155 70,464 368 2,898 713 663 2,979 78,085 Member bank reserves: - 346 29,336 + 3,515 31,070 With Federal Reserve Banks - 715 + 7,178 7,178 769 Currency and coin + 4,072 36,581 -1 ,061 38,315 Total reserves held 2/ - 646 + 4,133 36,675 36,675 Required, reserves 94 - 415 61 1,640 Excess reserves 2/ NOTE: A net of $171 million of surplus reserves were eligible to be carried forward from the week ended January 16, into the week ending January 23. On January 23, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $24,654 million, a decrease of $824 million for the week. 1/ Includes $73 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Adjusted to include $67 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. 3/ Includes $37 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. Estimated (New York District). H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Jan. 2 4 , Jan. 23,** Jan. 16, A S S E T S Gold certificate account Special Drawing Rights certif. accts. Cash (1 ,719) 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 Cash items in process of collection (1,753) Bank premises Other assets 2/ TOTAL ASSETS (3,472) i l i B I L I T I E S 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 (1,719) 1974. 11,460 400 292 2,664 65 10 1,909 72 - 33 + 11 50 36,929 - 159 +6,616 — — +1,833 - 314 +8,135 - 825 +7,310 +8,543 + 163 + 30 - 246 +9,591 38,514 3,149 78,592 678 79,270 83,990 9,325 224 1,082 106,773 62,294 30,990 2,898 713 663 (1,753) 35,264 6,2.16 975 (3,472) 104,769 £ A L I 1 £ II A C C O U N T S Capital paid in Surplus Other capital accounts 848 844 312 Contingent liability on acceptances purchased for foreign correspondents * l! 2/ 3/ 1973 •• 19.7A. +1,157 + 12 +1,425 + + + - 159 + 196 + 37 +1,468 -1,475 1 3 - + 1 +5,392 +2,496 + 691 + 449 + 70 +3,706 615 - 631 +1,0A7 + 474 + 13 + 903 - 318 - 59 - Z'l + 2? + 3*5 +9,416 1 89 + + + 9 + — + 575 56 656 17 49 598 45 51 51 73 376 Figures in parentheses are the eliminations made in the consolidating process. Includes $73 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Includes $37 million of certain deposits of dotnestic 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. Estimated (New York District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, J^UAfiY 2 3 f 1974 (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 securities Loans AcceptHoldings Weekly ances Weekly Holdings Changes changes Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years3 Over 10 years Total 2 ,655 9 -— -— 2 ,664 33 42 _.. .,_.75 5,816 19,982 21,079 23,128 7,503 1,762 79,270 +115 +395 -473 — -— + 37 121 104 234 791 492 239 1,981 +78 +10 -/,8 + 4 - 5 — +39 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 23, 1974 H.4.Ub) Total Boston New * York Philadelphia Cleveland Richmond Atlanta 0.n A S S E T S Chicago St. Louis Minneapolis Kansas City Dallas San Francisco millions of dollars) j 11,460 400 391 23 3,585 93 537 23 923 33 832 36 379 22 1,455 70 413 15 100 7 575 15 515 14 1,755 49 F.R. notes of other banks Other cash 1,719 292 127 17 282 23 87 4 125 33 173 32 258 41 125 33 59 20 27 10 50 33 119 15 287 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 Held under repurchase agreements Total U.S. Government securities 2,664 134 1,397 178 16 197 86 159 123 17 43 157 157 — — -- -- ~- -- -" 259 Gold certificate account Special Drawing Rights certif. acct. 65 10 --- 65 10 — — -- 1,909 72 90 470 72 105 146 145 110 311 71 40 75 87 — — — — — — — — — -- 36,929 1,732 9,091 2,022 2,121 6,016 1,381 1,455 1 ,692 2,831 -. -- -- -- -- 38,514 3.149 1 78,592 _ 678 ; 79,270 1,806 148 3,686 2,109 172 4,303 2,953 242 6,026 -- -- 3,686 9,481 775 19,347 678 20,025 4,303 6,026 Total loans and securities 83,990 3,910 22,039 4,586 Cash items in process of collection Bank premises Other assets 2/ 11,078 224 392 44 ,1.082 46 1,895 10 285 446 11 57 110,245 4,950 28,212 TOTAL ASSETS — 5,751 2,805 -- 2,925 239 5,969 — -- 2,212 181 4,514 — 6,274 513 12,803 768 — -- 1,441 118 2,940 801 65 1,634 -- — — — 5,969 4,514 12,803 2,940 6,188 6,311 4,710 13,273 3,134 502 27 77 993 14 82 1,218 15 60 1,538 16 1SS 521 14 7,908 8,473 6,703 16,665 4,213 -\l 1/ Includes $73 million securities loaned- -fully secured by U.S. Government securities pledged with Federal Reserve Banks, 2J Includes assets denominated in foreign currencies. * Estimated (New York District). " ""3,056 -- -- 5,015 -- 1 ,764 5,231 144 428 ~~T, 600 ~"10,674 — .. " 3,056 ~~T,eoo 10,674 3,214 _ _ _ 11,09*0 536 36 ?1 829 17 16 735 12 4A 1,473 8 178 2,430 4,769 5,,300 14,871 1,634 _ _ . -- 1,517 124 -- _ H.4.1(c) STATEMENT OF CONDITION 07 EACH FEDERAL RESERVE BANK ON JANUARY 23, 1974 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 3/ 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 acceptances purchased for foreign correspondents 2,470 2,409 7,495 680 79 12 2 773 434 1,241 164 21 6 1,432 749 1,940 235 29 15 2,219 523 5,696 401 66 15 6,178 791 35 4,145 22 2,385 36 4,687 43 144 5,i$4 -\ A "ZAP X«+, U U O 46 46 14 64,013 3,173 15,860 4,022 5,143 5,711 3,368 10,654 2,552 30,990 2,898 713 663 1 35,264 7,989 1,063 209 21 3 1,296 354 8,781 540 1/326 550 10,197 1,410 1,015 175 25 21 1,236 340 1,814 232 46 1 2,093 422 1,411 306 29 18 1,764 809 2,129 204 38 15 2,386 748 4,264 145 82 15 4,506 1,035 956 208 18 2 1,184 374 45 975 108,241 j 4,868 240 27,707 53 5,651 75 7,733 71 8,355 59 6,561 152 16,347 1,156 109 108 46 848 844 312 34 34 14 215 215 75 41 42 17 76 74 25 47 47 24 63 62 17 133 132 53 29 29 10 20 20 5 35 35 12 110,245 4,950 28,212 5,751 7,908 8,473 6,703 16,665 4,213 2,430 4,769 23 2/147 28 51 32 42 90 20 13 23 32 74 1,204 2,619 2,589 8,111 575 1 " " '"" 5,300 14,871 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 67,498 I 3,350 2,485 16,630 175 66,485 1 3,230 68,970 3,405 16,850 16,850 4,109 5,413 5,987 400 350 700 3,800 4,200 5,200 5,550 5,390 6,090 3,735 3,900 3,900 11,059 2,692 700 155 10,600 11,300 2,620 2,775 5 1,240 2,700 1,240 2,700 2,655 2,660 8,300 8,300 J7 After deducting $ 387 million participations of other Federal Reserve Banks. 2/ 3/ After deducting $ 428 million participations of other Federal Reserve Banks. Includes $37 million of certain deposits of domestic non-member banks and foreign-owned 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. * Estimated (New York District).
@FedFRASER