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of cow ?f**LK&y FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release January 26, 1973 The average of daily figures for total reserves of member banks declined $1,442 million in the latest statement week to $32,549 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined. Major factors absorbing reserves in the latest statement week were a more than seasonal decline in float and an increase in Treasury deposits with Federal Reserve Banks. These reserve drains were partially offset by a decline in currency in circulation. In addition, System Open Market operations provided $141 million reserves net, on a weekly average basis. Member bank borrowings averaged $1,095 million and exceeded excess reserves by $1,080 million compared to $1,009 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 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 Jfigures Week ended Change from week ended Wednesday, Jan. 24, Jan. 26, Jan. 17, Jan. 24, 1973 1972 1973 1973 (Irl mi]Llions of dollars) «. _ 1/ 70,457 1,503 70,244 527 + 153 + + 333 527 1,311 10 --. 10 + + 661 10 1,311 27 2 4 + + 4 21 82 59 * 206 +1,083 2,008 + - - 158 + 155 +2,635 + 278 -+ 668 +3,581 +5,146 - 136 - 781 + 146 - 110 + 152 +4,418 2,698 1,522 79,667 10,410 400 8,328 98,805 64,603 386 2,207 264 593 2,459 70,512 + + - 28,293 6,413 34,985 32,534 2,451 80 21 1,095 + - 2,866 1,383 77,537 10,410 400 8,326 96,673 64,809 372 2,303 306 614 2,411 70,816 + + + + + + + 25,857 6,413 32,549 32,534 15 - 935 - 507 -1 ,442 -1 ,165 - 277 879 72 872 --7 864 684 6 639 15 8 85 70 838 516 43 134 177 A net of $140 million of surplus reserves were eligible to be carried forward from the week ended January 17, into the week ending January 24. On January 24, 1973, marketable U. S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,545 million, a decrease of $23 million for the week. \J Includes $29 million securities loaned--fully secured by U. S. Government securities pledged with Federal Reserve Banks. 2/ 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. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since W ednesday Jan. 17, Jan. 26, Jan. 24, 1972 1973 1973 A S S E T S + 428 Gold certificate account 10,303 * --Special Drawing Rights certif. accts. 400 Cash + 42 16 348 L.722) + Loans +1,990 2,008 + 935 Acceptances--Bought outright + 5 82 + 4 Held under repurchase agreements + 59 11 59 Federal Agency obligations—Bought outright -+ 661 1,311 Held under repurchase agreements + 27 26 27 U. S. Government securities: Bought outright—Bills 30,313 + 152 342 Certificates -Notes 36,681 + 776 Bonds -+ 112 3,463 Total bought outright + 546 70,457 + 152 1/ Held under repurchase agreements +1,503 1,503 + 897 Total U.S. Government securities +2,049 71,960 +1,049 Total loans and securities 75,447 +4,791 +1,951 Cash items in process of collection -2,071 (1,897) 8,881 -2,532 Bank premises -+ 43 194 Other assets 2/ + 218 1,328 + 142 TOTAL ASSETS +3,451 - 423 (3,619) 9jy)pj. H.4.1(a) LIABILITIES. 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 £ A IIIAk A££2H N I £ (1,722) 56,902 28,213 2,207 264 593 (1,897) 31,277 6,263 (3,619) 95,072 630 Capital paid in Surplus Other capital accounts 797 793 239 Contingent liability on acceptances purchased for foreign correspondents 199 691 + 727 + 365 24 40 +1 ,028 - 852 + 18 - 497 + 1 -- + +4,412 +1,365 - 655 + 118 - 123 + 705 -1,846 + 84 +3,355 + + 46 51 1 73 53 * Figures in parentheses are the eliminations made in the consolidating process. JL/ Includes $29 million securities loaned--fully secured by U. S. Government securities pledged with Federal Reserve Banks, 2/ Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 24. 1973 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Accept U. S. Government Federal Agency securities obligations Loans -ances Holdings Weekly Holdings Weekly changes Changes 6,724 1,977 Within 15 days 81 + 996 27 -26 -16,585 31 60 49 40 16 days to 90 days .. -16,513 + 102 209 +10 91 days to 1 year ---24,484 602 -10 Over 1 year to 5 years ----6,108 269 Over 5 years to 10 years — 1,546 — — 191 — Over 10 years 71,960 +1,049 1,338 -26 Total 2,008 141 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 24, 1973 Total Boston Philadelphia New York Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kan s a s City Da lias San Francisc (In millions of dollars) A S S E T S Gold certificate account Special Drawing Rights certif. acct. 10,303 400 93 205 23 883 33 810 36 868 22 556 23 1,546 70 390 15 243 7 603 15 559 14 1,516 9 1 7A 49 254 42 F.R. notes of other banks Other cash 1,722 348 229 17 293 21 93 12 104 41 173 40 233 45 155 43 54 24 34 5 28 43 72 15 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 J7 Held under repurchase agreements Total U.S. Government securities Total loans and securities 2,008 114 711 15 17 123 56 505 154 47 56 51 82 59 --- 82 59 --- --- --- --- --- --- --- --- --- 1,311 62 -- 332 27 72 -- 98 -- 98 -- 72 -- 211 -- 47 -- 26 -- 52 -- 57 -- 184 27 30,313 1,425 7,687 1,667 2,269 2,264 1,664 4,877 1,089 594 1,195 1,324 4,258 -2,013 190 -- -- 5,901 1,318 -718 68 1,446 5,152 ,380 -1,602 137 _ _ 151 2,778 Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS -- -- 36,681 3,463 70,457 1,503 71,960 75,447 1,724 ... 9,302 «- _- -- 2,018 2,746 2,741 163 878 191 259 259 3,312 17,867 1,503 19,370 20,581 3,876 5,274 5,264 -- -- 3,876 3,963 ! ,926 1,328 467 29 54 100,520 4,863 10,778 194 -3,312 3,488 557 124 11,335 2,531 -- ~ ,867 -- -- -- 5,274 5,389 5,264 5,485 ,867 3 ,995 11,335 12,051 2,531 2,732 623 27 152 957 13 85 1,230 15 71 1,504 341 821 5 66 16 185 502 15 40 404 30 28 24,808 5,188 7,252 7,599 6 ,479 15,540 3,772 2 ,204 i T ~T If Includes $29 million securities loaned--fully secured by U . S . Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. ~- ,380 1,453 ~ r -- ,077 -- -- 486 9,896~ -- -- -. 2,778 2,886 ,077 3 ,185 9,896 10,239 747 17 44 538 12 50 1,059 4,383 4 ,445 13,987 ~T 8 212 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 24, 1973 New Total Boston York Phila- Clevedelphia land 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 foreign correspondents 58,624 3,066 14,613 3,586 4,667 5,215 3,035 9,809 2,281 1,032 2,268 2,236 6,816 28,213 2,207 1,194 7,263 1,302 1,813 3,948 5,816 180 14 7 525 19 8 115 43 9 119 11 3 140 15 5 238 34 23 1,024 1,824 1,503 2,365 1,353 1,636 6,111 455 545 737 918 4,115 1,234 668 61 6 2 737 379 1,476 89 25 1 887 91 9 1 988 420 1,220 466 917 85 13 9 1,709 98 11 664 452 729 25 97 264 593 31,277 8,160 1/ 64 -- 525 1,303 8,318 1,240 387 630 29 161 33 54 42 38 92 21 15 23 98,691 4,785 24,332 5,098 7,090 7,497 6,356 15,250 3,710 2,163 4,308 797 793 239 33 34 11 207 207 62 38 39 13 72 72 18 42 42 18 56 55 12 127 124 39 27 27 8 18 18 34 33 8 100,520 4,863 24,808 5,188 7,252 7,599 6,479 15,540 3,772 2,204 4,383 199 8 10 13 5 8 11 25 1,075 2,392 2,396 7,394 2/ 52_ 1Q_ 14 21. q -x Z_ 4,349 13,753 43 43 10 100 99 o r- J3 4,445 13,987 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 15,533 3,310 15,850 15,850 3,689 4,906 5,465 200 350 501 3,600 3,800 4,700 5,050 5,025 5,526 \J After deducting $ 200 million participations of other Federal Reserve Banks, 1) After deducting $ 147 million participations of other Federal Reserve Banks. 3,348 3,500 3,500 10,270 2,409 700 155 9,900 10,600 2,330 2,485 5 1,100 1,100 2,450 2,450 2,480 2,485 7,600 7,600
@FedFRASER