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FEDERAL RESERVE
Factors Affecting Bank Reserves and
Condition Statement of F.R. Banks
H.4.1
For immediate release
July 26, 1973
The average of daily figures for total reserves of member banks increased
$132 million in the latest statement week to $33,809 million. Required reserves
and member bank borrowings at Federal Reserve Banks increased while excess reserves
declined.
A decline in currency in circulation was the major factor supplying reserves
in the latest statement week. Offsetting this reserve gain were an increase in foreign
deposits with Federal Reserve Banks and a decline in float. In addition, System Open
Market operations absorbed $22 million reserves net, on a weekly average basis, through
matched sale-purchase transactions and maturing repurchase agreements made in the
previous week. Some reserves were provided during the statement week through repurchase
agreements and outright purchases of both Federal Agency obligations and Treasury bills.
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 —
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
Other F.R. liabilities and capital
Member bank reserves:
With Federal Reserve Banks
Currency and coin
Total reserves held
V
Required reserves
Excess reserves
3/
NOTE:
Averages of daily figures
Week ended Change from week ended Wednesday,
July*25,
July*25,
July 18,
July 26,
1973
1973
1972
L2Z3.
(In millions of dollars)
1/2/74,974
234
75,260
314
112
25
44,430
+ 314
1,593
76
144
28
+
+
514
76
1,617
52
52
19
5
4
+
13
19
51
34
358
11
+1,908
+ 128
2,025
134
528
61
132
- 409
+
88
+6,926
-
129
363
13
56
124
39
50
298
+ 451
+7,377
+5,720
4
+ 635
+ 134
+ 194
+ 477
+7,155
3,340
1,273
83,600
10,410
400
8,543
102,953
68,144
330
3,032
277
4 / 750
,803
75,336
+
+
-
169
37
132
521
389
2,080
128
3,280
1,244
83,917
10,410
400
8,540
103,267
68,250
331
3,168
405
4/ 778
2,780
75,711
27,557
6,140
33,809
33,793
16
+
+
+
+
223
434
+ 769
+ 832
- 63
27,617
6,140
33,869
33,793
76
A n e t of $227 m i l l i o n of s u r p l u s r e s e r v e s were e l i g i b l e t o be c a r r i e d forward
from t h e week ended J u l y 18, i n t o t h e week ending J u l y 2 5 .
On J u l y 2 5 , 1973, m a r k e t a b l e U . S . Government s e c u r i t i e s h e l d in c u s t o d y
by t h e F e d e r a l R e s e r v e Banks f o r f o r e i g n and i n t e r n a t i o n a l a c c o u n t s were $29,264
m i l l i o n , an i n c r e a s e of $289 m i l l i o n f o r t h e week.
1/
Excludes $375 m i l l i o n of s e c u r i t i e s s o l d , and s c h e d u l e d t o be bought b a c k ,
under matched s a l e - p u r c h a s e t r a n s a c t i o n s .
.2/
I n c l u d e s $181 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 s e c u r e d by U.S. Government
s e c u r i t i e s pledged w i t h F e d e r a l R e s e r v e Banks.
3/
A d j u s t e d t o i n c l u d e $112 m i l l i o n of c e r t a i n r e s e r v e d e f i c i e n c i e s on which
p e n a l t i e s can be waived f o r a t r a n s i t i o n p e r i o d in c o n n e c t i o n w i t h bank
a d a p t a t i o n t o R e g u l a t i o n J as amended e f f e c t i v e November 9, 1972.
47
I n c l u d e s $3 m i l l i o n of c e r t a i n d e p o s i t s of d o m e s t i c non-member banks and
foreign-owned banking i n s t i t u t i o n s h e l d w i t h member banks and r e d e p o s i t e d
in f u l l w i t h F e d e r a l Reserve Banks in c o n n e c t i o n with v o l u n t a r y p a r t i c i p a t i o n
by non-member i n s t i t u t i o n s in t h e F e d e r a l R e s e r v e S y s t e m ' s program of c r e d i t
restraint.
E s t i m a t e d ( S t . Louis D i s t r i c t ) .
H.4.1(a)
CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS
(In millions of dollars)
Change since
Wednesday
July 18, July 26,
July 25,**
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 $f
TOTAL ASSETS
L I A B I L I T I E S
Federal Reserve notes
Deposits: Member bank--reserves account
U. S. Treasurer—general account
Foreign
Other Lj
Total deposits
Deferred availability cash items
Other liabilities and accrued dividends
TOTAL LIABILITIES
£ A P I T A L
A C C O U N T S
Capital paid in
Surplus
Other capital accounts
„
10,303
•k
(1,203)
52
+
+
-
+1,388
13
+
34
+ 538
+
52
34,172
-
354
+3,390
-—
+ 542
+ 162
+4,094
+ 234
51
34
1,617
37,138
3,664
74,974
234
(2,088)
75,208
78,987
8,940
+
+
- 354
- 143
- 497
- 115
-1,875
(3,291)
100,208
(1,203)
60,129
27,537
3,032
277
750
31,596
5,680
847
98,252
J*«£S.
„+___63_
+6,327
-2,768
+
44
+
61
-1,920
+3,652
+
+
32
+5,081
- 257
+ 542
+ 121
+ 149
- 665
- 816
21
-2,007
+ 555
-2,459
+ 302
+3,479
—
207
1,066
(2,088)
-_12
...
7
351
-18
168
155
400
305
2,025
1/2/
_JL22SL_
1973
1973
822
793
341
505
680
27
20
87
+
+
+
49
51
73
Contingent liability on acceptances
purchased for foreign correspondents
498
+ 1 0
+ 236
* Figures in parentheses are the eliminations made in the consolidating process.
1/ Excludes $375 million of securities sold, and scheduled to be bought back,
under matched sale-purchase transactions.
Includes $181 million securities loaned--fully secured by U.S. Government
securities pledged with Federal Reserve Banks.
II Includes assets denominated in foreign currencies.
u
4/
Includes $3 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 System1s program of credit restraint.
** Estimated (St. Louis District),
MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 25, 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
U. S. Government
Accept
obligations
-ances
securities
Loans
Holdings Weekly
Holdings Weekly
Changes
changes
Within 15 days
-161
1,959
5,433
-400
50
54
16 days to 90 days
17,860
+ 4
66
35
52
+505
91 days to 1 year
-..
13,973
-602
373
+ 42
Over 1 year to 5 years
26,982
-630
+ 68
—
-Over 5 years to 10 years
—
..
931358
-+ 24
308
Over 10 years
JL(602
--+ 36
252
—
Total
+ 13
2,025
75,208
•497
1,669
85
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON
H.4.Ub)
Total
Boston
New
York
Philadelphia
Cleveland
Richmond
Atlanta
JULY 25,1973
Chicago
St. *
Louis
Minneapolis
Kansas
City
Dallas
San
Francisco
(In millions of dollars)
A S S E T S
10,303
400
432
23
3,179
93
543
23
678
33
922
36
256
22
1,854
70
324
15
186
7
477
15
257
14
1,195
49
F.R. notes of other banks
Other cash
1,203
305
121
15
226
21
51
4
45
34
108
36
183
40
86
34
89
22
25
5
48
39
66
14
155
41
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 1/2/
Held under repurchase agreements
Total U.S. Government securities
Total loans and securities
2,025
196
403
55
108
289
223
340
87
37
100
112
75
51
34
-—
51
34
—
—
—
—
—
—
—
—
—
—
—
—
-—
-—
—
--
-«.-
1,617
52
74
--
435
52
84
—
117
—
115
--
87
—
258
—
60
—
33
—
62
—
71
—
221
--
34,172
1,559
9,190
1,779
2,470
2,440
1,829
5,453
1,262
708
1,316
1,504
4,662
37,138
i 3,664
74,974
234
75,208
78,987
1,694
167
3,420
—
3,420
3,690
9,987
985
20,162
234
20,396
21,371
1,934
191
3,904
-3,904
4,043
2,684
265
5,419
-5,419
5,644
2,651
262
5,353
-5,353
5,757
1,988
196
4,013
—
4,013
4,323
5,927
585
11,965
—
11,965
12,563
1,372
135
2,769
—
2,769
2,916
770
76
,554
1,633
161
3,298
_"3,298
3,481
5,068
500
10,230
».
1 ,624
1,430
141
2,887
—
2,887
3,049
Cash items in process of collection
Bank premises
Other assets 3/
1 11,028
207
1,066
455
35
45
2,019
7
272
631
7
57
559
27
79
1,113
14
76
1,169
15
57
1,671
17
153
320
14
38
461
34
26
735
17
38
642
12
43
1,253
8
182
103,499 ; 4,816
27,188
5,359
7,099
8,062
6,065
16,448
3,738
2 ,368
4,418
4,529
13,409
Gold certificate account
Special Drawing Rights certif. acct.
TOTAL ASSETS
1/
2/
3/
*
]
r
~~T354~
Excluded $375 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions,
Includes $181 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks.
Includes assets denominated in foreign currencies.
Estimated (St. Louis District).
loTiio
10,526
H.4.1(c)
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK. UN JULY o , i? / J
New
Total
Boston
York
Phila- Clevedelphia land
Richmond
Atlanta
Chicago
St. * MinneLouis apolis
Kansas
City
San
Dallas Francisco
(In millions of dollars0
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
61,332
3,153
15,273
3,828
4,864
5,425
3,169
10,252
2,355
1,113
2,419
2,347
7,134
27,53?
3,032
958
243
11
2
8,138
1,001
1/ 81
865
166
13
20
1,515
1,382
1,746
4,355
4,808
203
19
9
85
42
53
217
11
7
173
14
5
226
33
21
1,214
9,826
1,346
1,064
1,632
1,691
1,977
1,561
5,088
373
777
734
4,535
1,225
1,277
328
618
150
6
2
776
414
1,369
274
14
21
741
203
9
2
955
332
1,042
91
24
2
611
483
814
111
750
31,596
7,768
331
606
8471
101,543
38
239
41
59
57
49
127
29
20
31
35
122
4,736
26,684
5,261
6,928
7,950
5,929
16,139
3,671
2,323
4,338
4,426
13,158
822
793
341
33
34
13
209
207
88
41
39
18
74
72
25
45
42
25
60
55
21
130
124
55
28
27
12
19
18
8
34
33
13
45
43
15
104
99
48
103,499
4,816
27,188
5,359
7,099
8,062
6,065
16,448
3,738
2,368
4,418
4,529
13,409
498
21
2/130
25
45
26
35
78
17
11
21
27
62
1,170
2,551
2,517
7,589
FEDERAL RESERVE AGENTS1 ACCOUNTS
F. R. notes outstanding
Collateral for F. R. notes:
Gold certificate account
U. S. Government securities
Total collateral
64,214
3,314
2,295
180
63,375
65,670
3,160
3,340
16,005
3,902
5,047
5,626
350
350
555
16,250
3,700
4,850
5,155
3,600
9,900
2,480
1,200
2,600
2,580
7,900
16,250
4,050
5,200
5,710
3,600
10,600
2,635
1,200
2,600
2,585
7,900
JL/
After deducting $ 196 million participations of other Federal Reserve Banks.
;/
After deducting $ 368 million participations of other Federal Reserve Banks.
3/
3,437
10,488
2,568
700
155
Includes $3 million of certain deposits ci" 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.
5
Estimated (St. Louis District),
@FedFRASER