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FEDERAL RESERVE ••f«£V Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release June 7, 1973 The average of daily figures for total reserves of member banks declined $120 million in the latest statement week to $32,117 million. Required reserves and member bank borrowings at Federal Reserve Banks declined while excess reserves increased. An increase in float and a decline in Treasury deposits with Federal Reserve Banks were the major factors supplying reserves in the latest statement week. Partially offsetting these reserve gains was an increase in currency in circulation. In addition, System Open Market operations absorbed $140 million reserves net, on a weekly average basis, primarily through outright sales and redemption of Treasury bills, Some repurchase agreements, however, were made in the statement week. Member Dank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securities-Bought outright~-Syst€im 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 2] Required reserves Excess reserves ^J NOTE: Averages of: daily 1figures Week ended Change from week ended Wednesday, June 6, May 30, June 7, June 6, 1973 1972 1973 1973 (Ir\ millions of dollars) 74,088 565 » + 901 565 +3,486 + 544 1,240 156 _ + 2 156 + + 222 154 80 50 + 8 50 + + 2 42 73 88 „ 1/ 73,956 628 ! 1,240 133 1,664 64 «, 736 18 + +1,606 + 64 884 62 2,247 852 80,941 10,410 400 8,500 100,251 67,218 398 3,026 264 656 2,882 74,445 408 59 410 --6 + - 404 + 328 4 - 538 57 10 + 95 - 185 -1,050 26 44,979 -— + 477 +5,456 +5,586 + 37 + 467 + 130 + 45 + 467 +6,733 3,203 861 81,066 10,410 400 8,502 100,378 67,641 397 1,324 253 642 2,896 73,153 _ + - -1,277 + 545 - 560 - 520 40 27,225 6,139 33,536 31,826 1,710 25,806 6,139 32,117 31,826 291 + + - + 219 99 120 231 111 A net of $135 million of surplus reserves were eligible to be carried forward from the week ended May 30, into the week ending June 6. On June 6, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,157 million, an increase of $146 million for the week. \j Includes $78 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ 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. '' Estimated (Philadelphia District). H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday June 6, •M May 30, June 7, 1973 1972 1973 ASSETS Gold certificate account 10,303 Special Drawing Rights certif. accts. * 400 Cash 299 14 16 844) Loans 884 + 749 - 887 Acceptances--Bought outright 73 3 11 Held under repurchase agreements + 34 88 + 88 Federal Agency obligation--Bought outright + 122 1,240 Held under repurchase agreements + 121 + 133 133 U. S. Government securities: Bought outright—Bills 33,409 9 +2,787 Certificates Notes 36,936 + 488 Bonds 3,611 71 + Total bought outright 73,956 1/ +3,346 + 9 Held under repurchase agreements 628 + 628 + 480 Total U.S. Government securities 74.584 +3,?26 + 637 Total loans and securities 77,002 +4,849 40 Cash items in process of collection (1,666) 8,987 -2,165 + 43 Bank premises -201 + 38 Other assets 2/ 660 + 41 70 TOTAL ASSETS (2,510) 97,852 + 30 +2^636 tlAlltlllis Federal Reserve notes Deposits: Member bank--reserves account U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES ( 844) 59,728 27,145 1,324 253 642 (1,666) 29,364 5,864 (2,510) 95,786 830 CAPITAL A C C O U N T S Capital paid in Surplus Other capital accounts 816 793 457 Contingent liability on acceptances purchased for foreign correspondents 395 + 337 +3 ,198 -2,608 37 27 + 526 - 946 + 29 54 + 1 10 -1,032 + 108 + 27 - 907 -2,163 + 260 +2,442 83 + + + 45 51 98 17 + 139 -- + +5,252 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $78 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. _2/ Includes assets denominated in foreign currencies. ** Estimated (Philadelphia District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 6r 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 securities •ances Loans Holdings Weekly Holdings Weekly Changes changes Within 15 days 4,957 +691 153 112 828 +133 16 days to 90 days 17,947 -135 31 49 56 + 5 — 91 days to 1 year — 13,976 + 81 214 - 5 Over 1 year to 5 years — — -— 26,832 537 -Over 5 years to 10 years — — — 9,243 247 Over 10 years _7_^ __-— — 1,629 191 Total 884 161 74,584 +637 1,373 +133 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 6, 1973 H.4.10>) Total Boston New York Philadelphia Cleveland Richmond A S S E T S St. Louis i s of dollars) [ n millior O Atlanta Chicago Minneapolis Kansas City Dallas San Francisco 10,303 400 432 23 1,482 93 343 23 993 33 740 36 443 22 2,482 70 264 15 93 7 266 15 265 14 2,500 49 F.R. notes of other banks Other cash 844 299 94 16 212 21 37 4 36 34 75 37 148 40 45 34 18 22 13 5 26 40 35 13 105 33 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/ Held under repurchase agreements Total U.S. Government securities Total loans and securities 884 106 142 38 71 34 125 132 26 9 136 36 29 73 88 --- 73 88 — -- --- --- --_ _--. «._ «... _„ „_ _„ —-B __ __ 1,240 133 57 -- 329 133 67 — 93 -- 90 -- 66 -- 197 -. 46 .. 27 _„ 49 _— —— 33,409 1,530 8,852 1,795 2,513 2,431 1,782 6,319 1,236 — 36,936 3,611 73,956 628 74,584 77,002 ... 1,691 165 3,386 -3,386 3,549 -9,787 957 19,596 628 20,224 20,989 — 1,985 194 3,974 — 3,974 4,079 -2,779 271 5,563 — 5,563 5.727 -2,687 263 5,381 -_ 5,381 5,505 -1,969 192 3,943 -3,943 4,134 -~ 5,881 575 11,775 -11,775 12,104 __ 1,367 134 2,737 -2,737 2,809 10,653 201 ; 660 444 33 31 1,801 7 174 728 5 36 496 27 49 1,136 14 48 1,147 15 35 1,454 16 99 100,362 4,622 24,779 5,255 7,395 7,591 5,984 16,304 Gold certificate account Special Drawing Rights certif. acct. Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 1/ 2/ * 722 «... 1,330 _„ 98 T,, 5UJH- 1,470 144 2,944 __ 2,944 3,129 437 14 21 527 33 19 3,600 2 ,331 Includes $78 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (Philadelphia District). 798 78 98 r, 5 _i X. 54 165 1 ,449 4,450 __ 1 ,603 157 ,209 T __ 4,919 481 9,850 3 r2o<r"~ 3 ,299 9,850 10,044 733 17 27 619 12 27 1,131 8 94 4,253 4 284 13,964 ~ H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON New Total Boston York Phila* Clevedelphia land Richmond JUNE 6, 1973 St. Atlanta Chicago 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 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 60,572 3,112 15,059 3,761 4,780 5,351 3,133 10,066 2,384 1,106 2,398 2,328 7,094 27,145 1,324 936 70 10 1 6,882 935 85 12 14 1,864 1,260 1,688 4,495 5,423 126 18 9 129 39 10 94 10 4 91 14 3 200 31 25 1,017 7,762 1,177 4,673 1,113 618 106 6 2 732 427 1,239 49 13 13 747 37 8 2 794 322 1,058 85 23 1,166 1,347 5,679 573 467 819 253 642 29,364 7,530 370 252 1/ 69 559 1,046 -1,972 1,335 1,841 304 405 728 825 830 37 247 42 59 58 44 125 28 20 31 34 105 98,296 4,536 24,245 5,153 7,216 7,472 5,843 15,977 3,528 2,285 4,168 4,176 13,697 816 793 457 33 34 19 208 207 119 39 39 24 73 72 34 45 42 32 59 55 27 129 124 74 28 27 17 19 18 9 34 33 18 45 43 20 104 99 64 100,362 4,622 24,779 5,255 7,395 7,591 5.984 16,304 2,331 4.253 4.284 13,964 395 17 2/ 103 19 36 21 28 62 17 21 49 2,507 2,460 7,424 3,600^ 13 9_ FEDERAL RESERVE AGENTS1 ACCOUNTS 15,740 F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,290 3,834 4,912 5,488 250 350 435 16,050 3,70Q 4,700 5,115 16,050 3,950 5,050 5,550 1/ After deducting $184 million participations of other Federal Reserve Banks, 2/ After deducting $292 million participations of other Federal Reserve Banks. 10,262 2,502 700 155 3,500 9,900 2,430 3,500 10,600 2,585 3,315 * 1,136 5 1,150 1,150 2,600 2,600 2,480 2,485 7,600 7,600 Estimated (Philadelphia District),
@FedFRASER