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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release June 14, 1973 The average of daily figures for total reserves of member banks declined $596 million in the latest statement week to $31,580 million. Required reserves and excess reserves declined while member bank borrowings at Federal Reserve Banks increased. Major factors supplying reserves in the latest statement week were declines in both Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital. Reserves were absorbed by an increase in currency in circulation. In addition, System Open Market operations absorbed $2,156 million reserves net, on a weekly average basis, primarily through matched sale-purchase transactions. 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 3/ Required reserves Excess reserves 3/ NOTE: Averages of daily ifigures Week ended Change from week ended Wednesday, June 6, June 13, * June 14, June 13, * 1973 1973 1972 1973 (Ir1 millions of dollars) 72,719 — -1,369 - 565 6 1,234 -- - 70 -1,697 67 2,326 883 78,929 10,410 + + 1/2/71,421 — — + 116 1,220 — -- 10 50 9 — 65 — 33 3 +1,603 + 67 1,689 - 2,906 156 + 20 + 30 -2,073 — — 400 +2,109 624 67 13 916 +3,182 78,217 10,410 — — 400 8,515 97,542 67,951 2,644 73,079 + 6 - 238 -1,368 + 483 +3,665 +5,787 + 34 -1,201 + 115 + 74 + 441 +5,250 25,175 6,233 31,580 31,597 + - -1,585 + 576 - 837 - 711 24,172 6,233 30,577 31,597 -1,020 8,515 98,254 67,731 + 15 -2,058 + 511 388 10 1,401 -1,625 253 662 11 690 94 596 229 396 1,522 261 621 2,619 73,370 A net of $233 million of surplus reserves were eligible to be carried forward from the week ended June 6, into the week ending June 13. On June 13, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,014 million, a decrease of $143 million for the week. 1/ Excludes $2,345 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $85 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Adjusted to include $172 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. k Estimated (Cleveland, Dallas and San Francisco Districts). H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday June 14, June 13, June 6, 1973 1973 1?72 A S S E T S 10,303 Gold certificate account 400 Special Drawing Rights certif. accts. * 297 Cash ( 828) 18 2 +1,623 805 1,689 Loans 65 8 8 Acceptances—Bought outright -88 Held under repurchase agreements 1,220 + 102 20 Federal Agency obligations—Bought outright -133 Held under repurchase agreements U. S. Government securities: -2,535 + 252 30,874 Bought outright — Bills Certificates + 488 — 36,936 Notes -3,611 + 71 Bonds + 811 -2,535 71,421 Total bought outright 1/ 2/ -— - 628 Held under repurchase agreements -3_J63 + 811 71,421 Total U.S. Government securities +2,528 74,395 -2,607 Total loans and securities -3,683 8,837 - 309 Cash items in process of collection (1,757) + 1 202 + 39 Bank premises 714 63 + 45 Other assets J3/ -2,872 95,148 -1,197 TOTAL ASSETS (2,585) kL ±*Ih.II IJLfL 'Federal Reserve notes ( 828) Deposits: Member bank—reserves account U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items (1,757) Other liabilities and accrued dividends TOTAL LIABILITIES (2,585) C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts 60,022 24,092 1,522 261 621 26,496 6,011 839 93,368 + 281 -3,179 + 198 + 8 21 -2,994 + 118 + 9 -2,586 +5,371 -3,519 - 599 + 135 + 88 -3,895 -3,069 + 280 -1,313 816 793 171 .. -• 286 + + + 46 51 19 Contingent liability on acceptances purchased for foreign correspondents 396 + 1 + 144 * Figures in parentheses are the eliminations made in the consolidating process. Excludes $2,345 million of securities sold, and scheduled to be bought back, 1/ under matched sale-purchase transactions. y Includes $85 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (Cleveland, Dallas and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 13, 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 Accept U. S. Government obligations •ances securities Loans Holdings Weekly Holdings Weekly Changes changes Within 15 days 1,644 14 2,132 -2,825 — -153 45 51 17,757 - 190 56 + 25 16 days to 90 days 91 days to 1 year — — 13,828 - 148 240 + 26 Over 1 year to 5 years — -26,832 -486 - 51 Over 5 years to 10 years — — 9,243 — 261 + 14 Over 10 years — — 1*629 — 177 - 14 Total 1,689 65 71,421 -3,163 1,220 •153 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Philadelphia Cleveland * Richmond Atlanta JUNE 13, 1973 Chicago St. Louis Minneapolis Kansas City * Da lias 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 obligations-Bought outright Held under repurchase agreements U.S. Government securities: Bought outright-Bills 10,303 400 382 23 2,167 93 484 23 712 33 748 36 367 22 2,273 70 408 15 51 7 313 15 417 14 1,981 49 828 297 83 15 203 22 25 5 37 34 75 36 144 39 65 33 18 21 15 5 27 40 30 14 106 33 1,689 111 434 118 101 193 189 125 28 54 107 66 163 65 -- --- 65 __ --_ --- --- --- -— --- -_ -- --- -. _. --- 1,220 -- 56 -- 323 -- 66 -- 92 -- 89 -- 65 -- 194 -- 45 -- 26 -- 49 -- 53 -- 162 -- 30,874 1,413 8,181 1,659 2 ,323 2,246 1,646 4,916 1,142 668 1,229 1,339 4,112 36,936 3,611 71,421 .."71,421 74,395 __ 1,691 165 3,269 -3,269 3,436 -9,787 957 18,925 -18,925 19,747 " __ 1,985 194 3,838 -3,838 4,022 -2 ,779 271 ,373 -_ ,373 ~5 ,566 _2,687 263 5,196 -5,196 '5,478 _1,969 192 3,807 -3,807 ~4,0*61 -_ -5,881 1,367 575 134 2,643 lf,372 --2,643 11,372 "*' 117691 '2,716 -798 78 1,544 -_ 1,544 '1,624 -1,470 144 2,843 _2,843 2,999 1 ,603 157 — j ;099 -_ _ ,099 _ 3 ~218 10,594 202 714 425 33 32 1,487 7 185 713 5 49 502 27 50 1,319 14 52 1,268 15 47 1,466 17 107 449 14 23 461 33 19 718 17 28 569 12 32 1,217 8 90 97,733 4,429 23,911 5,326 6 ,961 7,758 5,963 15,722 3,664 2,215 4,157 4 ,306 13,321 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 Bank premises Other assets 3/ TOTAL ASSETS 1/ 2*/ 3/ * T Excludes $2,345 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $85 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (Cleveland, Dallas and San Francisco Districts). 4,919 481 9,512 -. _ _ _ _ _ T,837 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 13, 1973 New Total 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 Boston York Phila- Clevedelphia land* Richmond St. Atlanta Chicago Louis Minneapolis Kansas City * San Dallas Francisco * (In millions of dollars0 60,850 24,092 1 1,522 261 621 26,496 7,768 3,123 15,083 3,794 4,820 5,375 3,150 10,125 2,399 1,112 2,405 2,339 7,125 702 6,172 1,126 1,606 3,892 218 13 11 100 18 9 96 39 9 944 92 11 5 86 13 3 239 31 19 1,046 1,493 1,368 1,733 1.467 4,985 429 858 901 4,036 1,159 1,052 357 581 44 6 1 632 408 4,696 102 23 — 716 96 8 2 822 354 1,365 253 924 91 12 19 1,368 105 11 1 819 377 596 371 859 1/ 76 542 7,043 1,099 839 37 228 42 62 57 53 121 28 22 30 34 125 95,953 4,356 23,453 5,239 6,804 7,658 5,837 15,441 3,603 2,174 4,083 4,211 13,094 816 793 171 33 34 6 208 207 43 39 39 9 73 72 12 45 42 13 59 55 12 129 124 28 28 27 6 19 18 4 34 33 7 45 43 7 104 99 24 JL7.J33J 4,429 23,911 5,326 6,961 1,7 58 5,963 15,722 2,215 4.157 4.306 13.321 396 17 2/ 103 19 36 21 28 62 9 17 21 50 1,136 2,519 2,479 7,460 3,ji64^ 13 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 63,079 3,253 2,115 180 62,395 64,510 3,110 3,290 15,764 16,050 16,050 3,867 4,928 5,531 250 350 475 3,700 3,950 4,700 5,050 5,115 5,590 1/ After deducting $185 milli on participations of other Federal Reserve Banks. 2/ After deducti ng $ 293 million participations of other Federal Reserve Banks, * Estimated (Cleveland, Dallas, and San Francisco Districts). 3,341 3,500 3,500 10,290 2,511 700 155 9.900 10,600 2,430 2,585 5 1,160 1,160 2,600 2,600 2.530 2,535 7.600 7,600
@FedFRASER