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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release January 31, 1974 The average of daily figures for total reserves of member banks declined $430 million in the latest statement week to $36,151 million. Required reserves declined while excess reserves and member bank borrowings at Federal Reserve Banks increased. A decline in float and an increase in Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. A decline in currency in circulation was the only factor providing a significant amount of reserves. In addition, System Open Market Operations provided $803 million reserves net, on a weekly average basis, through outright purchases of Treasury bills and 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 Change from week ended Wednesday, „Jan. 31, Jan. 30, Jan. 30, Jan. 23, 1974 1974 1973 1 1974 (In millions of dollars) + + 498 226 52 + + 13 42 67 22 + + 3 21 1,221 + 17 + 39 4 78,784 323 1,929 2,152 1,329 85,880 11,567 -1,028 + 58 - 128 400 8,726 106,573 69,931 359 3,099 494 646 3,059 77,588 + + + + + -.. 3 125 650 4 748 96 63 100 227 + 7,752 - 248 + + 1/78,815 1,020 618 9 1,927 14 17 67 83 89 17 1,601 501 44 + 8,470 + 1,157 -+ 395 2,304 1,373 87,350 11,567 + •f +10,022 4- 5,702 - 160 15 400 8,729 108,046 69,977 18 370 4- 428 4- 216 410 4- 524 4- 6,861 3,013 485 668 3,103 77,616 Member bank reserves: - 351 4- 3,161 28,985 30,430 With Federal Reserve Banks - 79 4- 649 7,099 7,099 Currency and coin - 430 +• 3,598 37,596 36,151 Total reserves held 2/ 4- 3,777 - 800 35,875 35,875 Required reserves 276 + 370 1,721 - 179 Excess reserves 2/ forward NOTE: A net of $31 million of deficit reserves were eligible to be carried from the week ended January 23, into the week ending January 30. On January 30, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $24,346 million, a decrease of $308 million for the week. 1/ Includes $135 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 $39 million of certain deposits of domestic non-member banks and foreignowned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by non-member Institutions in the Federal Reserve System's program of credit restraint. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Jan. 2 3 , Jan. 3 1 , Jan. 30, A S S E T S Gold certificate account Special Drawing Rights certif. accts. * Cash (1,778) Loans Acceptances—Bought outright Held under repurchase agreements Federal Agency obligations--Bought outright Held under repurchase agreements U.S. Government securities: Bought outright—Bills Certificates - . Other Notes Bonds Total bought outright 1/ Held under repurchase agreements Total U.S. Government securities Total loans and securities Cash items in process of collection (1,574) Bank premises Other assets Ij TOTAL ASSETS (3,352) -— 11,460 400 305 1,601 67 83 1,927 160 37,075 38,591 3,149 78,815 . 1,020 79,835 83,673 7,577 224 1JL49 104,788 1973 1974 1974 +1,157 -- + 12 -1 ,063 + 2 + 73 + 18 + 88 + + + + + 146 +6,086 77 +1,910 - 314 +7,682 + 131 +7,813 +8,828 - 693 + 30 + 4 +9,278 + + 223 342 565 - 317 -1,329 79 -1,555 48 291 15 24 616 99 LIA1III1IES. Federal Reserve notes ~~ Deposits: Member bank-reserves account U. S. Treasurer—general account Foreign Other 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES £ £ £ I I £ L ACCOUNTS. Capital paid in "" "" "" Surplus Other capital accounts (1,778) 61,816 30,350 3,013 485 668 (1,574) (3,352) 34,516 5,353 994 102,67$) 849 844 416 - 395 - 640 + 115 - 228 25 - 778 - 484 + 1 -1,656 + 1 — + 100 +5,227 +3,617 + 266 + 175 6 +4,052 - 528 + 319 +9,070 + + + 52 51 105 Contingent liability on acceptances purchased for foreign correspondents 562 13 + 364 * Figures in parentheses are the eliminations made in the consolidating process. \J Includes $135 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. _3/ Includes $39 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. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JANUARY 30, 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 Loans obligations Acceptsecurities ances Holdings Weekly Holdings Weekly Changes 1 changes Within 15 days 1,592 7,042 109 +1 ,226 199 + 78 16 days to 90 days 19,192 9 41 - 790 104 — 91 days to 1 year + 52 21,131 234 — -— Over 1 year to 5 years -23,128 819 + 28 --Over 5 years to 10 years 7,580 492 --+ 77 — Over 10 years 1,762 239 — — — Total 1,601 150 79,835 + 565 2,087 +106 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 30, 1974 H.4.Ub) Total i 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. 400 415 23 3,670 93 746 23 820 33 804 36 376 22 1,707 70 381 15 135 7 554 15 348 14 1,504 49 F.R. notes of other banks Other cash 1,778 305 131 18 340 27 83 4 137 35 171 33 224 43 133 33 59 21 28 10 48 32 127 15 297 34 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 1,601 184 235 57 65 215 122 166 125 30 23 81 298 67 83 — -- 67 83 -— — -- _.. -__ .__ «. _. _«. __ «... .... .... «.- 1,927 160 90 474 160 106 148 146 111 314 72 40 76 88 262 — — -- .. .. -- -- «... i 37,075 1,739 9,127 2,031 2,842 6,039 1,387 771 1,461 1,698 5,035 — 1/ ~~ Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 11,460 1 38,591 3,149 78,815 1,020 79,835 83,673 9,151 : 224 1,149 108,140 — 1,810 148 3,697 — — — 2,113 172 4,316 2,816 — 3,697 3,971 9,500 775 19,402 1,Q20 20,422 21,441 4,316 4,479 6,043 6,256 5,986 6,347 359 45 50 1,445 10 303 384 11 63 456 27 82 5,012 27,329 5,793 7,846 — — 2,959 242 6,043 2,931 239 5,986 2,129 — __ ~» «... 802 65 ,638 1,520 124 3,105 1,768 144 3,610 5,241 428 10,704 -«. I7638 "~ 3,105 I,708 3,204 3,610 3,779 10,704~~~~ 11,264 «.- 6,287 513 12,839 1,444 118 2,949 -- -- 4,526 4,759 12,839 13,319 2,949 3,146 866 14 82 1,013 15 63 1,232 16 165 392 14 38 485 35 27 8,353 6,515 16,675 4,066 2 ,435 — • _„ 2,216 181 4,526 -.. 17 Includes $135 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. __ —_ T 741 17 38__ 4,649 ... «- 693 12 64 1,085 8 174 5,052 14,415 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 30, 1974 H.4.1(c) 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 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 63,594 1 3,145 30,350 3,013 485 668 34,516 6,927 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 4,005 5,110 5,701 3,341 10,577 2,541 1,150 2,457 2,392 7,472 1,161 8,584 1,060 1,815 1,362 1,960 4,442 5,394 234 23 22 278 41 2 314 26 18 286 34 15 139 73 14 175 19 6 255 25 6 429 60 20 1,339 2,136 1,720 2,295 4,668 1,132 1,459 2,020 5,903 291 345 735 675 944 286 649 110 11 2 772 444 1,734 403 930 184 16 2 1,259 206 19 4 608 486 626 43 138 1,390 345 1/138 557 9,682 1,142 994 45 268 52 73 71 58 150 35 22 39 106,031 4,925 26,795 5,687 7,664 8,227 6,369 16,339 3,994 2,388 4,563 849 416 35 34 18 215 215 104 41 42 23 76 74 32 48 47 31 63 62 21 133 132 71 28 29 15 20 20 7 35 35 16 108,140 5,012 27,329 5,793 7,846 8,353 6,515 16,675 4,966 2,435 4. $49 562 23 2/143 28 50 31 41 844 | Contingent liability on ace eptances purchased for foreign correspondents 15,703 4,941 14,139 46 46 19 109 108 SQ 5.052 14,415 i 88_ 1SL 13„ 21.,,.. 31 72 2,572 8,077 _ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,330 175 3,230 3,405 16,578 — 16,850 16,850 4,088 5,390 5,965 400 350 700 3,800 4,200 5,200 5,550 5,390 6,090 3,710 — 3,900 3,900 10,996 2,693 700 155 10,600 11,300 2,620 2,775 1,200 2,601 5 1,240 1,240 2,700 2,700 2,655 2,660 8,300 8,300 \J After deducting $347 2/ 3/ After deducting $419 million participations of other Federal Reserve Banks. Includes $39 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. million participations of other Federal Reserve Banks.
@FedFRASER