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FEDERAL RESERVE *mR—P*l •••f«?f"- Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release March 2, 1972 The average of daily figures for total reserves of member banks declined $135 million in the latest statement week to $31,736 million. Excess reserves and member banks borrowings from Federal Reserve Banks increased, while required reserves declined. Major factors supplying reserves in the latest statement week were a reduction in Treasury deposits with Federal Reserve Banks and a contraseasonal rise in float. System Open Market operations absorbed $1,705 million of reserves net, on a weekly average basis. More than one-quarter of these reserves were absorbed through matched sale-purchase transactions. Excess reserves averaged $211 million and exceeded borrowings by $143 million compared to $162 million for the previous week. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securitiesBought outright--System account Held under repurchase agreements Federal Agency obligationsBought outright Held under repurchase agreements AcceptancesBought outright Held under repurchase agreements Discounts and advancesMember bank borrowings Other 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 Required reserves Excess reserves NOTE: Averages of daily figures Week ended Change from week ended Wednesday, March 1, Feb. 23, March 1, March 3, 1972 1972 1972 1971 (Irl millLions of dollars) 67,893 -1 ,649 — 729 -- — +5 ,414 - 137 55 + — - 1/68,145 -- 729 11 727 -- 1 + -- - 14 19 63 — 68 52 - 190 59 3,576 662 72,993 9,588 400 7,818 90,798 59,696 369 1,339 219 590 2,269 64,481 + 521 + 88 -1 ,044 + 853 182 +6 ,473 -1 ,144 64 26,317 5,419 31,736 31,525 211 — 7 -1 ,039 40 3 - 676 + 52 2 -j_ 53 - 617 + 608 +5 ,936 +3 ,977 - 100 + 415 + 81 - 178 52 +4 ,141 2,938 707 72,639 9,588 400 7,820 90,447 59,794 374 1,128 137 575 2,299 64,307 - +1 ,795 + 399 +2 ,194 +2 ,153 441 26,140 5,419 31,559 31,525 34 — -i + J- 422 287 135 168 33 - — A net of $110 million of surplus reserves were eligible to be carried forward from the week ended February 23, into the week ending March 1. On March 1, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $29,336 million, an increase of $48 million for the week. 1/ Includes $68 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Feb. 23, March 3, March 1, » 1972 1972 1971 A S S E T S — • 989 9,475 Gold certificate account --400 * Special Drawing Rights certif. accts. 60 (1,350) 1 325 Cash - 203 59 Discounts and advances + £1 _63 Acceptances-.-Bought outright + 16 mm . 44 Held under repurchase agreements + 727 11 Ill Federal Agency obligatons--Bought outright --29 Held under repurchase agreements U, S. Government securities: 28,746 736 +3,052 Bought outright--Bills Certificates mm 36,034 -1-2,316 Notes -+ 287 3,365 Bonds - 736 +5,655 1/ 68,145 Total bought outright --Held under repurchase agreements - 248 - 736 Total U.S. Government securities +5.407 68,145 - 706 Total loans and securities +5,874 68,994 Cash items in process of collection + 448 (3,330) + 248 11,268 Bank premises 1 154 + + 21 Other assets 2/ + 65 - 181 553 TOTAL ASSETS - 191 (4,680) +5.033 91i169 H.4.1(a) ~l" 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 (1,350) 52,560 26,060 1,128 137 575 (3,330) (4,680) 27,900 8,410 - 525 + + 89,395 — A C C O U N T S C A P I T A .L Capital paid in ~ Surplus Other capital accounts 755 742 277 Contingent liability on acceptances purchased for foreign correspondents 266 «- 116 252 11 41 15 319 181 2 252 3 -- + 58 +3,409 +1,405 + 168 + 23 - 165 +1,431 + 249 29 +5,060 + + - 43 40 110 * Figures in parentheses are the eliminations made in the consolidating process JL/ Includes $68 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 1, 1972 (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 Discounts obligations •ances and securities Holdings Weekly Holdings Weekly Advances Changes changes Within 15 days -3,501 -838 58 -11 22 16 days to 90 days 41 16,434 1 6 - 1 -142 — — 15,085 +244 91 days to 1 year 186 +11 -— — Over 1 year to 5 years 366 -10 26,318 -— --Over 5 years to 10 years 5,647 99 -— -— Over 10 years 1,160 70 Total 63 -736 59 68,145 727 -11 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON H.4.Ub) Total Boston Philadelphia New York Cleveland Richmond Atlanta MARCH 1, 1972 Chicago St. Louis Minneapolis Kansas City Da H a s San Francisco (In millions of dollars) A S S E T S Gold certificate account Special Drawing Rights certif. acct. 9,475 400 319 23 2,484 93 350 23 710 33 788 36 305 22 2,056 70 392 15 136 7 393 15 376 14 1,166 49 F.R. notes of other banks Other cash 1,350 325 159 10 268 27 122 11 77 38 87 42 252 37 75 40 26 19 25 10 37 35 68 17 154 39 59 41 1 -- -- 1 2 11 1 2 -- -- 63 -- --- 63 -- --- --- --- --- --- -- --- --- --- --- 727 "" 34 -- 184 -- 39 -- 55 -- 54 -- 38 -- 118 -- 27 -- 14 -- 30 -- 33 -- 101 -- 28,746 1,345 7,269 1,525 2,195 2,146 1,515 4,677 1,060 554 1,176 1 ,302 3,982 -36,034 3,365 68,145 -68,145 68,994 -1,686 157 3,188 -3,188 3,263 -9,112 851 17,232 -17,232 17,480 -1,911 178 3,614 -3,614 3,653 -2,752 257 5,204 -5,204 5,259 -2,690 251 5,087 -5,087 5,142 -1,899 178 3,592 -3,592 3,632 -5,863 548 11,088 -11,088 11,217 -1,329 124 2,513 -2,513 2,540 -695 65 1,314 — 1,314 1,329 -1,475 138 2,789 -2,789 2,821 -1 ,631 152 T ,085 -,085 3 ,118 -4,991 466 9,439 -9,439 9,540 14,598 154 553 816 2 49 2,666 8 124 768 3 35 1,061 25 39 1,064 13 37 1,550 16 25 2,425 17 76 791 15 17 586 21 12 946 17 20 947 9 39 978 8 80 95,849 4,641 23,150 4,965 7,242 7,209 5,839 15,976 3,815 2,126 4,284 4 ,588 12,014 Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations— Bought outright Held under repurchase agreements U.S. Government securities: Bought outright-Bills Certificates: Special Other Notes Bonds Total bought outright Held under repurchaae agreements Total U.S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS j 1/ 1/ Includes $68 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2_l Includes assets denominated in foreign currencies. ~T STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON H.4.1(c) New Total Boston York Phila- Clevedelphia land Richmond MARCH 1, 1972 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 forei-gn correspondents 53,910 2,881 13,296 20,060 1,128 847 74 6 * 927 730 6,767 137 575 27,900 11,740 169 1/ 45 506 7,487 1,777 4,378 4,793 2,665 9,318 2,090 906 2,017 2,077 6,337 989 1,607 66 93 6 11 — 8 1,271 1,676 4,054 4,500 142 19 3 108 5 3 84 7 4 150 16 21 1,069 1,711 1,368 4,687 911 4,218 2,080 1,649 953 1,747 1,284 1,355 626 636 53 3 1 693 476 1,554 59 9 3 920 63 4 2 989 657 1,239 67 6 24 815 745 686 3,152 525 25 131 26 41 39 28 86 19 12 22 24 72 94,075 4,563 22,691 4,873 7,083 7,111 5,724 15,702 3,755 2,087 4,209 4,495 11,782 755 742 277 33 34 11 195 193 71 39 38 15 69 68 22 39 38 21 52 50 13 115 111 48 25 25 10 17 17 5 32 32 11 41 41 11 98 95 39 _95,849 4,641 23,150 4,965 ^,242 7,209 5,839 15,976 3,815 2,126 4,284 4,588 12,014 266 12 2/ 69 24 14 18 40 9 6 11 15 34 933 2,097 2,243 6,735 14 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 56,774 3,059 14,085 3,275 4,607 4,953 2,445 150 500 300 350 285 56,025 58,470 3,000 3,150 13,800 14,300 3,150 3,450 4,400 4,750 4,720 5,005 17 After deducting $ 92 27 After deducting $ 197 million participations of other Federal Reserve Banks. 2,976 3,100 3,100 9,645 2,166 700 155 9,300 10,000 2,080 2,235 970 970 2,175 2,175 million participations of other Federal Reserve Banks. * 5 Less than $500,000. 2,330 2,335 7,000 7,000
@FedFRASER