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FEDERAL RESERVE •^r^t- Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release March 21, 1974 The average of total reserves of member banks increased $408 million in the latest statement week to $35,168 million. Required reserves and member bank borrowings at Federal Reserve Banks increased while excess reserves declined. A decline in float and an increase in other Federal Reserve liabilities and capital were the major factors absorbing reserves in the latest statement week. Offsetting these reserve drains was a decline in Treasury deposits with Federal Reserve Banks. System Open Market Operations provided $677 million reserves net, on a weekly average basis, through outright purchases of Treasury bills and repurchase agreements. 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 3/ Other F.R. liabilities and capital Averages of daily 1figures Week ended Change from wee k ended Wednesday, March 13, March 20, March 21, March 20, 1974 1974 1973 1974 (In millions of dollars) + 561 + 114 +5 ,847 + 206 1/78,378 1,094 _ - 25 4 + 673 4 + 1,953 18 70 45 + + 3 28 + + 500 + 15 + 78,350 492 1,953 1,484 34 1,846 - 237 961 + 23 + 963 85,219 11,567 400 8,768 105,955 71,286 337 1,324 300 731 2,994 76,972 + + + + + + + - -— 6 970 93 7 470 23 17 152 177 36 7 3 74 92 655 34 2,162 . 753 + 85 +5 ,402 2,225 „ +1 ,157 -+ 360 +6 ,920 +6 ,036 - 43 -2,407 - 65 + 81 + 495 +4,096 39 998 87,012 11,567 400 8,769 107,748 71,343 347 2,079 261 675 3,022 77,727 Member bank reserves: With Federal Reserve Banks 30,021 28,983 +2 ,824 +1 ,147 - 739 Currency and coin +• 584 6,118 6,118 Total reserves held 2/ 36,206 35,168 +3 ,196 + 408 Required reserves 35,126 35,126 +3 ,402 + 494 1,080 42 - 206 - 86 Excess reserves 2/ NOTE: A net of $75"~million of surplus reserves were eligible to be carried forward from the week ended March 13, into the week ending March 20. On March 20, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $26,270 million, an increase of $445 million for the week. 1/ Includes $133 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Adjusted to include $67 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. 3/ Includes $44 million of certain deposits of domestic nonmember banks and foreignowned 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 System1s program of credit restraint. H.4.1(a) CQNSOLIDATED STATEMENT OF CONDITION (In millions of ,L FEDERAL RESERVE BANKS Wednesday Mar. 20, 1974 A S S E T S Gold certificate account Special Drawing Rights certif. accts, Cash (1,225) 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 Cash items in process of collection (1,719) Bank premises Other assets 2) TOTAL ASSETS (2,944) i i i i i t n n s (1,225) Federal Reserve notes Deposits: Member bank-reserves account U. S. Treasurer—general account Foreign 2) Other 3/ 2) Total deposits (1,717) Deferred availability cash items Other liabilities and accrued dividends (2,944) TOTAL LIABILITIES C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts Change since Mar. 21, 1974 1973 Mar . 13, 11,460 400 282 2,162 74 92 +1,157 — + + 1,953 36 36,418 + 38,956 3,004 78,378 1,094 79.472 83,789 7,882 + + + +. - 228 770 104.811 63,096 29,941 2,079 261 675 34,956 5,737 1,001 102,790 870 844 307 8 - 7 7 6 + 9 + 92 + + 534 9 822 1 2 673 36 445 +4,935 160 30 635 808 173 282 362 + 1 - 26 - 113 +2,117 - 497 +6,555 +1,094 +7.649 +7,627 - 733 + 31 + 66 +8.069 141 +5,543 +4,462 -2,345 26 + 42 +2,133 - 136 + 337 +7,877 - 95 + 135 - 13 - 62 - 35 - 14 - 28 - 218 1 — + 106 + + + 64 51 77 Contingent liability on acceptances purchased for foreign correspondents 673 + 16 + 394 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $133 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 27 Includes assets denominated in foreign currencies. 3/ Includes $44 million of certain deposits of domestic non-member banks and foreignowned banking institutions held with member banks and redeposited in full with Federal Reserve Banks in connection with voluntary participation by non-member institutions in the Federal Reserve System's program of credit restraint. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 20r 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 Weekly Holdings ances changes Changes Within 15 days 2,140 106 6,194 -782 36 -92 16 days to 90 days 22 60 19,555 +130 135 91 days to 1 year 21,721 +289 274 — — Over 1 year to 5 years 22,344 +109 -— 768 Over 5 years to 10 years + 56 Over 10 years -+ 25 Total 2,162 166 1,989 -92 79,472 -173 ±m m STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 20, 1974 H.4.1(b) Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago 0.n millionts of St. Louis Minneapolis Kansas City Dallas San Francisco dollars) A S S E T S 11,460 400 895 23 1,466 93 540 23 1,193 33 1,061 36 428 22 2,821 70 539 15 229 7 456 15 525 14 1,307 49 F.R. notes of other banks Other cash 1,225 282 66 18 380 27 37 4 64 35 106 29 159 39 65 28 24 18 15 9 31 31 99 13 179 31 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 \J Held under repurchase agreements Total U.S. Government securities Total loans and securities 2,162 52 1,054 181 238 186 142 73 41 10 82 41 62 -__ „„ „«. _- __ ... _„ Gold certificate account Special Drawing Rights certif. acct. Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 74 92 .. — 74 92 1,953 36 89 510 36 106 __ 36,418 1,667 9,510 1,972 ... -- — 38,956 3,004 _ 1,783 138 10,173 784 7 |-.3o79l 3,588 79.472 83,789 3.588 3,729 20,467 1-094 21.561 23,327 9,601 228 j 770 299 48 107,755 1 -- 11 5,109 .. -_ __ — 2,109 163 4,244 -- -«=> _- .- -«= __ _- _„ _„ „.«. „» 146 108 143 -. 2,657 — 2,842 219 5,718 -- .. 2,715 — 2,905 224 5,844 ... .. 2,018 — 2,160 167 4,345 C3-. 307 .. 5,716 71 41 77 86 __ -c= ._ _«. 1,325 773 1,444 1,600 269 «... 5,021 — -- _- -« — -- 6,114 471 12,301 1,418 109 2,852 827 64 1,664 1,544 119 3,107 1,711 132 3,443 5,370 414 10,805 -_ -_ 4.244 4,531 5.718 6,099 5,844 6,176 4.345 4,595 12.301 12,681 2.852 2,964 1.664 1,715 3.107 3,266 3.443 3,570 10.805 11,136 1,474 10 314 12 486 27 1,023 14 9-9-1 W\ so 1,020 15 38 1,396 16 101 458 14 23 445 35 19 741 17 26 754 12 32 1,191 8 133 26,998 5,504 7,987 6,316 17,178 4,055 2,474 4,583 5,019 14,034 ^ 8,498 1/ Includes $133 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks0 l_l Includes assets denominated in foreign currencies. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 20, 1974 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis Kansas City San Dallas Francisco (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 accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents __ 64,321 3,159 15,950 4,057 5,128 5,746 3,372 10,642 2,587 1,185 2,467 2,413 7,615 29,941 1,146 265 2,079 10 261 677 4 32,958 1,425 7,454 399 8,007 566 1/ 71 563 9,207 1,038 842 122 13 11 988 309 2,082 108 22 1 2,213 397 1,378 277 14 29 1,698 866 1,907 79 19 20 2,025 720 4,752 206 40 12 5,010 1,063 892 120 9 2 1,023 345 733 66 6 2 807 414 1,291 62 10 5 1,368 626 1,800 118 14 12 1,944 515 51 279 26,474 5,405 74 7,812 71 8,381 56 6,173 150 16,865 -u 3,989 99 2,428 4,499 21 20 5 36 35 13 47 46 12 111 108 49 9~~ •»MIL • • •4,503 5,019 *' T >Yi , T. JLL. 86 2,584 8,024 1,001 45 105,734 5,028 870 844 307 34 34 13 226 215 83 42 42 15 77 74 24 48 47 22 65 62 16 135 132 46 28 29 9 107,755 5,109 26,998 5,504 7,987 8,498 6,316 17s178 4,055 673 28 2/171 33 38 J!_ -42- JLQ£L_ 33- -15- ™ 5,111 90 33 16 5,250 762 42 139 4,914 13,766 .28- FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,274 175 3,230 3,405 16,762 — 17,050 17,050 4,118 5,286 5,943 400 350 625 3,800 4,200 5,200 5,550 5,390 6,015 3,673 — 3.900 3,900 10,910 2,729 700 50 10.600 11,300 2,735 2,785 1,225 2,602 5 1,940 1,240 9,700 2,700 2,655 2,660 1/ After deducting $ 190 million participations of other Federal Reserve Banks. 2/ After deducting $ 502 million participations of other Federal Reserve Banks. 3/ Includes $44 mill ion 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. 8,300 8,300
@FedFRASER