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FEDERAL RESERVE ••f^rSfc*: Fractors Affecting Bank Reserves and Condition Statement of RR. Banks For immediate release June 6, 1974 H.4.1 The aveYage of daily figured for total reserves of member banks increased moderately in the latest statement week to $36,279 million. Required reserves and member bank borrowings at Federal Reserve Banks declined while excess reserves increased. Increases in float and other Federal Reserve assets and a decline in Treasury deposits with Federal Reserve Banks were the major factors providing reserves in the latest statement week. Partially offsetting these reserve gains were increases in currency in circulation and foreign deposits with Federal Reserve Banks. In addition, System Open Market Operations absorbed $24 million reserves net, on a weekly average basis through matched sale-purchase transactions made late in the week. Reserves were provided early in the week through outright purchases of Treasury bills and coupon issues and repurchase agreements. Averages of daily figures | Week ended Change from week ended]Wednesday, Member Dank reserves, May 29, June 5, * June b, June 5,* Reserve Bank credit, 1973 ] 1974 1974 1974 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 cert if. 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 4/ Other F.R. liabilities and capital (In millions of dollars) yy 79,507 627 -2 79 + 66 + 5,419 + 62 77,038 2.621 320 - 11 +137 + 1,381 + 164 2,621 97 130 - 1 + 64 + + 17 80 100 3,054 131 -551 + 17 + 1,390 + 67 2,711 126 2,204 1,012 89,574 11,567 400 8,859 110,400 73,346 302 2,804 399 695 _3,285 +404 +112 - 57 89 + 159 + 8,585 + 1,157 2,884 1,072 86,426 11,567 400 8,860 107,253 73,752 300 1,340 330 687 3,003 _„ .„ + 3 - 53 +284 + 29 -420 +112 + 11 - 25 __ + 359 +10,101 + 6,126 96 222 + 135 + 39 + 403 --— 80,831 + 6,384 79,412 Member bank reserves: 29,569 + 3 717 With Federal Reserve Banks - 44 27,841 6,652 + Currency and coin 513 + 49 6,652 Total reserves held3/ + 4 116 36,279 + 5 +4,116 I 34,551 Required reserves + 4 247 36,066 -1.00 +.4,247 | 36,066 Excess reserves 3/ 131 213 +105 -1,515 NOTE A net of $95 million of surplus reserves were eligible to be carried forward from the week ended May 29, into the week ending June 5. On June 5, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,639 million, an increase of $535 million for the week. 17 Excludes $3,061 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $111 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. 47 Includes $42 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. * Estimated (Chicago, Dallas and San Francisco Districts). CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday June 6, June 5,** May 29, 1973 1974 1974 A S S E T S +1,157 11,460 Gold certificate account * -— 400 Special Drawing Rights certif. accts. 5 89 210 970) Cash +1,830 -1,999 2,711 Loans + 27 -100 Acceptances--Bought outright -88 - 250 Held under repurchase agreements +1,381 — 2,621 Federal Agency obligatons—Bought outright - 133 — • 701 Held under repurchase agreements U. S. Government securities: •3,018 +1,291 34,700 Bought outright--Bills Certificates +2,597 + 168 39,533 Notes - 806 + 38 2,805 Bonds +3,082 -2,812 77,038 1/2/ Total bought outright - 628 — -2,081 Held under repurchase agreements +2,454 -4,893 77,038 Total U.S. Government securities +5,471 -7,843 82,470 Total loans and securities - 861 - 234 8,324 (1,856) Cash items in process of collection + 36 + 1 237 Bank premises + 166 + 148 835 Other assets 2/ +5,880 -7,933 (2,826) 103,936 TOTAL ASSETS H.4.1(a) m> — LIAlItlllls 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 ( 970) 65,295 27,761 1,340 330 687 (1,856) (2,826) 30,118 5,520 1,105 102,038 £ A Z I i A Ji A C C O U N T S Capital paid in Surplus Other capital accounts 873 844 181 Contingent liability on acceptances purchased for foreign correspondents 725 + 286 -5,711 - 993 + 15 + 45 -6,644 - 934 - 353 -7,645 —— — - 288 10 +5,554 + 454 + 16 + 77 + 45 + 592 - 373 + 275 +6,048 + + - 57 51 276 330 * Figures in parentheses are the eliminations made in the consolidating process. \J Excludes $3,061 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $111 million securities loaned--fully secured by U.S. Government securities pledge with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $42 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. ** Estimated (Chicago, Dallas and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 5, 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 Accept U. S. Government obligations securities •ances Loans Holdings Weekly Holdings Weekly Changes changes -700 72 -5,289 2,639 2,593 29 Within 15 days + 2 49 72 - 499 22,930 16 days to 90 days 71 + 800 --21,809 312 — 91 days to 1 year - 3 — -+ 26 Over 1 year to 5 years 1,071 19,879 746 --— Over 5 years to 10 years 7,867 + 31 -— + 38 371 -Over 10 years 1,960 Total 77,038 -4,893 2,621 -701 2,711 100 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON H.4.1(b) Total Boston New York Philadelphia Cleveland Richmond June 5,1974 -1 TIT Atlanta] Chicago I Louis ~ "J 0*n i Minneapolis Kansas City San * Dallas * Francisco I millions of dol Lars) A S S E T S LfOi.u L C I L U K C I L C a^tuliia 11,460 400 | Special Drawing Rights certif. acct. 970 210 2,711 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 1/2/ Held under repurchase agreements Total U.S. Government securities Totzal loans and securities Cash items in process of collection Bank premises Other assets 3/ TOTAL ASSETS _1/ 2/ 3/ * 33 36 22 70 15 7 15 14 49 49 13 48 257 15 1,453 36 2 84 37 28 57 94 22 230 145 32 226 52 21 154 27 16 62 22 5 57 33 24 130 65 12 83 153 20 127 100 -— -— — — — --- -— -- -— 126 1 Q1Q ^ , -,+.*, /, Q O 1 OQA Oil -- OOft IKK 647 150 197 192 146 421 101 55 100 116 370 -- — -- -- -- -- -- -- -- -- -- -- -- 34,700 1,675 8,563 1,984 2,612 2,542 1,933 5,574 1,337 736 1,318 1 ,533 4,893 39,533 2,805 77,038 1,909 135 3,719 9,756 692 19,011 2,259 160 4,403 2,976 211 5,799 2,896 206 5,644 2,201 156 4,290 6,351 451 12,376 1,523 108 2,968 838 59 _ ,633 1,503 107 2,928 1 ,746 124 3*,403 5,575 396 10,864 '-- -- -- -- -- -- -- 77,038 82,470 3,719 3,893 19,011 21,211 4,403 4,637 5,799 6,053 5,644 6,066 4,290 4,662 12,951 2,968 3,131 10,180 237 835 449 52 39 1,642 11 193 439 16 50 526 27 55 1,069 14 98 1,222 15 44 1,546 16 110 482 14 26 106,762 4,756 27,320 5,520 7,840 8,718 6,574 16,062 3,942 2,621 i — AQ1 Q91 23 — 1 1 Q1 1 93 -r , «-' y yj 100 — Q v</« QQQ 23 11Q " -- ' ~ -- -- 12,m ~ Excludes $3,061 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $111 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (Chicago, Dallas and San Francisco Districts). -- 2,328 ~~T,403 10,864 3,158 3 ,602 11,361 450 35 25 747 17 32 605 12 30 1,003 8 133 2 ,517 4,370 4 ,595 14,548 r1 rsir" ,745 " H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 5, 1974 Total New York Boston Phila- Clevedelphia land Richmond * St. Atlanta Chicago Louis Minneapolis Kansas City San * Dallas Fran- * cisco (In millions of dollars) LIABILITIES. Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other 3/ Total deposits Deferred availability cash items Other liabilities and accrtled 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 66,265 3,241 16,399 4,162 27,761 1,340 330 687 30,118 7,376 901 8,062 91 319 14 17 84 6" 579 1,012 9,044 1,131 378 5,263 5,882 3,529 10,925 2,680 1,247 2,530 2,492 7,915 822 35 16 8 881 326 1,823 52 29 3 1,907 429 1,854 67 24 19 1,964 880 3,463 143 52 10 3,668 958 756 65 11 2 834 326 719 71 8 2 800 401 1,053 62 14 5 1,134 590 1,397 5,349 103 134 18 42 10 23 1,528 5,548 416 684 47 168 4,483 14,315 1,562 198 18 20 1,798 857 1,105 104,864 52 4,6S3 271 26,845 62 5,431 82 79 61 ML 7,681 8,616 6,436 15,725 41 3,881 25 2,473 41 4,295 873 844 181 35 34 4 227 215 33 42 42 5 77 74 8 48 47 7 66 62 10 135 132 70 28 29 4 21 20 3 36 35 4 106,762 4,756 27,320 5,520 7,840 8,718 6,574 16,062 3,942 2,517 4,370 53 114 24 17 30 40 93 1,296 2,662 2,641 8,302 725 30 2/ 185 35 64 40 47 46 19 111 108 14 JS 595 14,548 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,355 17,190 4,241 5,415 6,063 100 -- 300 350 630 3,280 17,250 4,000 5,200 5,500 3,900 10,600 2,785 1,320 2,700 2,680 8,400 3,380 17,250 4,300 5,550 3,900 11,300 1,320 2,700 2,685 8,400 6,130 3,783 11,114 2,789 700 5 50 2,835 \j After deducting $ 246 million participations of other Federal Reserve Banks. 2 After deducting $ 540 million participations of other Federal Reserve Banks* Includes $42 million of certain deposits nonmember banks and foreign-owned banking institutions held with member banks and redepositedprogram, in of credit full with Federal Reserve Banks in connection with voluntary participation by nonmember institutions in the Federal Reserve System's progi restraint. / 3/ ~~ ^Estimated (Chicago, Dallas and San Francisco Districts.)
@FedFRASER