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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks ^•4*1 For immediate release July 5, 1974 The average of daily figures for total reserves of member banks increased $673 million in the latest statement week to a level of $37,202 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. Major factors absorbing reserves in the latest statement week were increases in currency in circulation, Treasury deposits and other deposits with Federal Reserve Banks. An increase in float was the only factor providing a significant amount of reserves. In addition, System Open Market Operations provided $197 million reserves net, on a weekly average basis, primarily through outright purchases of Treasury bills and Federal Agency obligations. 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 2/ Other F.R. liabilities and capital Averages of daily figures Week-ended Change from week ended Wednesday, June 26, July 4, July 3, June 3,* 1973 1974 1974 1974 (In millions of dollars) 1/ 79,807 + 307 786 - 442 2,856 + 307 +4,692 - 226 79,892 2,853 484 - 54 +1,407 + 302 98 231 + + 3 76 + + 3,434 126 2,126 1,252 91,074 11,567 400 8,894 111,935 74,105 289 2,781 350 777 3,243 81,545 + 646 7 + 71 + 92 +1 ,006 .-+ 3 +1 ,009 + 416 9 + 122 + 7 + 90 - 22 - 605 649 633 31 177 99 284 +1,034 + 15 3,001 72 2,728 1,262 91,401 11,567 + 154 +7,499 +1,157 133 -- 400 + 357 +9,013 +6,057 8,897 112,265 74,747 84 289 - 833 2,590 + M 269 637 + 37 + 393 +5,611 2,992 81,524 Member bank reserves: With Federal Reserve Banks + 405 30,390 +3,401 30,740 Currency and coin 6,812 + 326 + 586 6,812 Total reserves held + 673 37,202 +3,875 37,552 Required reserves 36,904 +4,209 + 479 36,904 Excess reserves + 194 - 334 298 648 NOTE: A net of $88 million of surplus reserves were eligible to be carried forward from the week ended June 26, 1974, into the week ended July 3, 1974. On July 3, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $29,497 million, an increase of $187 million for the week. \J Includes $160 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes $49 million of certain deposits of domes Lie nonmember banks and foreignowned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by nonmember institutions in the Federal Reserve System's program of credit restraint. Estimated (Richmond District) * Treasury figures estimated. •k-k H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since July 4, June 26, July 3, 1973 1974 1974 ** A S S E T S +1,157 11,460 Gold certificate account — * — 400 Special Drawing Rights certif. accts. 87 205 947) - 11 Cash 3,001 + 3 + 22 Loans + 32 99 3 + Acceptances—Bought outright + 123 284 + 177 Held under repurchase agreements + 304 +1,404 2,853 Federal Agency obligations—Bought outright + 234 633 + 99 Held under repurchase agreements U.S. Government securities: 37,378 +2,815 289 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 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 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 1/ 39,692 2,822 79,892 (1,940) 80,541 87,411 9,200 (2,887) 1,022 109f938 649 240 ( 947) 66,238 30,660 2,590 269 637 (1,940) (2,887) 34,156 6,552 1,153 108,099 £ £ I I 1 £L A C C O U N T S Capital paid in Surplus Other capital accounts 879 844 116 Contingent liability on acceptances purchased for foreign correspondents 835 + 159 + 17 + 465 - 396 + 69 + 620 +1 ,035 + 2 + 64 +1 ,710 + 785 + 605 - 103 - 13 - 62 + 427 + 792 + 28 +2 ,032 + +2,581 - 842 +4,554 -1,313 +3,241 +5,091 + 53 + 35 + 162 +6,411 +5,707 +1,363 - 571 + 17 - 106 + 703 71 + 266 +6,605 3 — - 325 + + - 58 51 303 66 + 410 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $160 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 37 Includes $49 million of certain deposits of domestic nonmember banks and foreign-owned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by nonmember institutions in the Federal Reserve System's program in credit restraint. ** Estimated (Richmond District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 3, 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 Acceptsecurities obligations ances Weekly Holdings Holdings Weekly changes Changes Within 15 days 2,919 308 5,602 -1,253 633 + 95 16 days to 90 days 82 75 23,849 + 477 63 + 8 91 days to 1 year 21,255 --+ 716 403 + 70 Over 1 year to 5 years — — 19,914 1,262 + 35 +162 Over 5 years to 10 years 7,945 -— + 78 754 + 51 Over 10 years 1,976 -+ 16 371 „ zz. + 17 Total 3,001 80,541 69 3,486 383 +403 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 3, 1974 H.4.Ub) Total Boston New York Philadelphia Cleveland Richmond* Atlanta Chicago St. Louis Milineapolis Kansas City Dallas San Francisco (In millions of dollars) 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 obligationsBought 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 Bank premises Other assets 2/ TOTAL ASSETS 1/ 2/ * | 11,460 400 722 23 2,021 93 475 23 1,048 33 1,217 36 710 22 2,189 70 281 15 196 7 395 15 280 14 1,926 49 947 205 3,001 32 12 143 228 17 1,507 32 4 82 48 27 100 85 21 137 135 31 119 56 20 362 29 15 28 26 6 93 42 23 105 62 9 152 172 20 173 99 284 — -- 99 284 -- — — -— — -- — — — — »- — — ~_ -- 2,853 633 132 703 633 160 220 211 158 451 109 59 112 129 409 — -- _. -- _- -- -- -- — -- -- 37,378 1,733 9,206 2,092 2,887 2,764 2,062 5,910 1,432 777 1,466 1 690 5,359 — 1 39,692 1 2,822 S* 79,892 ! 649 i 80^541 87,411 — — -- 3,705 3,980 9,777 695 19,678 649 20,327 23,553 4,471 4S713 1,022 473 54 48 1,711 11 259 112,825 5,344 27,893 1 11,140 I 240 1,841 131 3,705 — 2,221 15P 4,471 — 3,066 218 6,171 — c __ lJ- 7 1 -- -- -- -.- -- -~ -- __ 2,934 208 5,906 2,189 156 4,407 6,277 446 12,633 1,520 108 3,060 825 59 I ,661 1,557 111 3,134 1 ,795 128 ~y,613 5,690 404 11,453 -- «... 3^3 ~y 3 ZjX^453 ,894 12,035 -- — — — -- _._. 6,491 5,906 6,254 4,407 4,684 12,633 13,446 3,060 3,197 T,661 460 17 53 496 27 70 1,247 14 70 1,456 15 67 1,399 16 143 564 14 35 463 35 23 920 17 37 732 12 59 1,219 8 158 5,777 8,240 8,944 7,120 17,339 4,150 2 ,569 4,800 5 ,062 15,587 Includes $160 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated, (Richmond District). " 3,134 1 ,813 3,351 11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON July 3, 1974 Total New York Boston 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 ace:eptances purchased for foreign correspondents 67,185 3,276 16,657 30,660 1,143 2,590 226 269 10 637 6 34,156 1,385 8,492 561 8,279 410 1/ 90 515 9,294 1,151 4,196 5,343 5,989 3,606 11,044 2,715 880 2,024 171 197 12 21 2 11 1,074 2,244 360 408 1,501 220 13 2,101 173 17 820 136 8 5 969 366 13 30 1,747 1,003 2,321 991 4,441 299 38 14 4,792 1,054 1,153 110,986 51 5,273 323 61 85 76 64 170 40 27,425 5,691 8,080 8,815 6,982 17,060 4,090 879 844 116 35 34 2 228 215 25 41 42 3 78 74 8 49 47 33 67 62 9 136 132 11 28 29 3 112,825 5,344 27,893 5,777 8,240 8,944 7,120 17,339 4,150 835 34 47 61 131 29 2/ 212 41 74 1,256 2,557 2,537 8,009 672 1,140 132 181 6 10 1 7 811 1,338 433 787 1,693 158 13 18 1,882 495 5,966 287 31 15 6,299 883 42 49 167 2,525 4,724 4,963 15,358 48 46 5 111 108 10 2,569 4,800 5,062 15,587 34 46 107 8,430 25 21 20 19 37 3 l — FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,360 17,398 100 -- 300 350 17,450 4,100 5,200 3,280 4,249 5,502 6,141 3,886 11,270 2,835 1,298 2,686 2,682 670 -- 700 50 -- -- 5 5,530 4,000 10,600 2,885 1,320 2,800 2,705 11,300 2,935 1,320 2,800 2,710 8,700 * Estimated (Richmond District). 3,380 17,450 4,400 5,550 6,200 _!/ After deducting $ 179mixiion participations of other Federal Reserve Banks. 2/ 37 4,000 8,700 After deducting $ 623 million participations of other Federal Reserve Banks. Includes $49 million of certain deposits of domestic nonmember banks and foreign-owned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by nonmember institutions in the Federal Reserve System's program in credit restraint.
@FedFRASER