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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release June 13, 1974 The average of daily figures for total reserves of member banks declined $477 million in the latest statement week to a level of $35,803 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all cU lined. Major factors providing reserves in the latest statement week were declines in Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital. Partially offsetting these reserve gains were an increase in currency in circulation and a decline in float, In addition, System Open Market Operations absorbed $1,890 million reserves net, on a weekly average basis, through outright sales of Treasury bills, matched sale-purchase transactions and maturing repurchase agreements made in the previous week. Reserves were provided late in the week through outright purchase of Treasury bills and repurchase agreements. Averages of daily figures Week ended Change from week ended Wednesday, Member Dank reserves, June 12, Reserve Bank credit, June 13, June 12, June 5, and related items 1974 1973 1Q7A 1974 (In millions of dollars) Reserve Bank credit: 1/2/ U.S. Government securities--1,283 78,224 +5,505 78,215 Bought outright--System account - 277 350 + 350 1,714 Held under repurchase agreements Federal Agency obligations-2,590 31 +1,356 2,549 Bought outright - 217 103 + 103 511 Held under repurchase agreements Acceptances — 96 1 + 26 95 Bought outright 49 81 + 49 301 Held under repurchase agreements Loans-2,729 - 325 +1,029 3,155 Total member bank borrowing + 5 136 + 69 134 Includes seasonal borrowing of: Other borrowing 2,032 - 160 - 308 2,308 Float 1,036 + 23 + 149 1,090 Other F.R. assets 87,209 -2,353 +8,259 89,938 Total Reserve Bank credit 11,567 +1,157 __ 11,567 Gold stock 400 400 .-Special Drawing Rights certif. acct. 8,862 + 3 + 347 8,865 Treasury currency outstanding 108,038 -2,351 +9,763 110,770 73,846 + 502 +6,112 74,166 Currency in circulation - 105 283 19 296 Treasury cash holdings -1,873 - 470 931 906 Treasury deposits with F.R. Banks 309 90 + 56 359 Foreign deposits with F.R. Banks 674 20 + 11 650 Other deposits with F.R. Banks 4/ 3,041 - 234 + 400 3,101 Other F.R. liabilities and capital 79,084 -1,734 +6,004 79,478 Member bank reserves: 28,954 - 616 +3,759 31,292 With Federal Reserve Banks 6,791 4- 139 + 557 6,791 Currency and coin 35,803 - 477 +4,202 38,141 Total reserves he Id3/ +4,074 35,670 - 396 35,670 Required reserves Excess reserves^/ 133 ^ NOTE: A net of $104 million of surplus reserves were eligible to be carried forward from the week ended June 5, into the week ending June 12. On June 12, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,724 million, an increase of $85 million for the week. 1/ Excludes $1,519 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2J Includes $96 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Adjusted to include $58 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. 4/ Includes $44 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 of credit restraint. [ON OF ALL FEDERAL RESERVE BAN!CS of dollars) Change since Wednesday June 13, June 12, June 5, 1973 1974 197^ H.4.1(a) A S S E T S Gold certificate account * Special Drawing Rights certif. accts. Cash (923) 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 Cash items in process of collection (1,595) Bank premises Other assets J/ TOTAL ASSETS (2,518) —— 11,460 400 211 + 1,157 — — 90 -4- 1 -f 444 5 + 301 - 72 + 511 + 1,461 + 30 + 301 + 1,329 + 511 35,877 +1,177 + 5,003 39,533 2,805 78,215 1.714 79,929 86.540 7,859 — .. + 2,597 3,155 95 301 2,549 511 236 854 107,560 +1,177 +1.714 +2,891 +4,070 - 388 1 + 13 -+3,695 806 + 6,794 + 1,714 + 8,508 +12,140 - 1,273 + 34 + 108 +I2,07o~ IiIAlIIiIlIES, Federal Reserve notes Deposits: Member bank-reserves account U. S. Treasurer—general account Foreign Other J/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES £ALI 1 AL (923) 65,701 31,212 906 359 650 (1,595) (2,518) 33,127 5,631 1,149 105,608 + 417 +3,443 - 434 + 29 33 +3,005 + 103 + 44 +3,569 + 5,657 + 6,957 + + + + 616 + 98 + 26 + 6,465 547 + 332 +11,907 ACCOUNTS Capital paid in Surplus Other capital accounts 875 844 233 Contingent liability on acceptances purchased for foreign correspondents 724 2 — + 124 1 59 51 59 328 ^Figures in parentheses are the eliminations made in the consolidating process. ^/Excludes $1519 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/Includes $96 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/Includes assets denominated in foreign currencies. 4/Included $44 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 of credit restraint. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, June 12, 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 7,167 +4,574 335 510 3,063 +438 92 61 16 days to 90 days 2l|436 -1,494 + 11 60 21,620 - 189 + 21 333 91 days to 1 year — 1,100 19,879 + 29 Over 1 year to 5 years — 7,867 703 Over 5 years to 10 years - 43 1,960 — 354 Over 10 years - 17 +4-39 79,929 +2,891 3,060 Total 3,155 396 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 12, 1974 H.4.1(b) Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) ASSETS. 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 obligations-Bought outright Held under repurchase agreements U.S. Government securities: Bought outright-Bills Certificates: Other Notes Bonds 2/ Total bought outright 1/ Held under repurchase agreements Tota 1 U.S. Government. securities Total loans and securities Bank premises. Other assets 3/ TOTAL ASSETS 541 23 3 ,825 93 502 23 798 33 965 36 259 22 1,414 330 15 155 7 411 15 189 14 2,071 70 256 15 3,155 39 13 147 1,578 23 3 151 33 28 56 89 23 206 144 33 292 56 19 339 24 15 33 19 6 80 34 23 112 58 12 101 148 21 60 95 301 -- 95 301 -- .... — — — — -~ -- -- 2,549 123 409 98 54 97 113 359 -- 629 511 146 511 — — __ — — -- 35,877 1,732 8,853 39,533 2,805 78,215 1,714 79,929 86,540 1,909 135 3,776 3,776 4,046 9,756 692 19,301 1,714 21,015 24,129 236 854 51 37 110,078 5,130 1,460 400 923 211 ~-- 192 „ -- 49 187 142 — -- -. 2,051 2,701 2,628 1,998 5,763 1,383 761 1,363 1,585 5,059 2,259 160 4,470 2,976 211 5,i 2,896 206 5,730 2,201 156 4,355 6,351 451 12,565 1,523 108 3,014 838 59 1,658 1,503 107 2,973 1,746 124 3,455 5,575 396 11,030 4,470 4,767 5,888 6,136 5,730 6,123 4,355 4,789 12,565 13,313 3J314 3,145 1,658 1,792 2,973 3,182 3,455 3,669 11,030 11,449 1 1 "71 O 16 54 27 58 14 61 15 46 T O O 1,320 16 125 A 1 -7 11 194 14 30 -+ x / 17 29 639 12 36 1,094 8 164 29,808 5,779 7,616 8,374 6,527 16,333 4,003 2,451 4,424 4,629 15,004 _- OAQ Ol O \J Excludes $1,519 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $96 million secutiries loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 35 20 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON June 12, 1974 Total New York Boston Phila- Clevedelphia land RichAtlanta mond 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: Mamber bank reserves U. S. Treasurer—general account Foreign Other 3/ Total deposits Deferred availability cash items Other liabilities and accnled dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acereptances purchased for foreign correspondents 66,624 3,256 16,461 4,194 5,302 5,927 3,559 10,969 2,691 1,254 2,548 2,512 7,951 31,212 906 359 650 33,127 7,226 1,378 * 17 5 1,400 345 10,026 , 906 1,090 1,647 1,360 3,852 1,113 1,488 54 20 13 1,123 308 36 1 1,684 380 23 19 1,402 859 64 13 3,929 958 897 * 14 4 915 290 111 541 11,527 981 1,825 * 30 19 1,874 889 9 4 735 392 17 5 1,135 621 23 11 1,522 445 5,814 * 52 15 5,881 758 1,149 52 337 60 82 76 62 162 39 24 41 47 167 108,126 5,053 29,306 5,685 7,448 8,264 6,384 16,018 3,935 2,405 4,345 4,526 14,757 875 844 233 35 34 8 227 215 60 42 42 10 77 74 17 49 47 14 66 62 15 135 132 48 It 29 11 21 20 5 36 35 8 48 46 9 111 108 28 110,078 5,130 29,808 5,779 7,616 8,374 6,527 16,333 4,003 2,451 4,424 4,629 15,004 724 30 11 184 35 64 40 53 114 24 17 30 40 93 1,294 2,672 2,633 8,341 y FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 17,256 65,215 3,345 2,175 100 68,065 3,280 17,450 70,240 3,380 17,450 4,271 5,434 6,098 30C 350 670 4,000 5,200 5,500 4,300 5,550 6,170 3,845 11,195 2,831 700 50 4,000 10,600 2,835 1,320 2,700 2,680 8,500 4,000 11,300 2,885 1,32- 2,700 2,685 8,500 5 1/ After deducting $ 305 million participations of other Federal Reserve Banks, 2 cAn * L e s s t h a n $503,000. jj After deducting $ D£fU million participations of other Federal Reserve Banks. -' Includes $44 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 of credit restraint.
@FedFRASER