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;o? ^ow.; ••Swv FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release March 23, 1972 H.4.1 The average of daily figures of total reserves of member banks declined $516 million in the latest statement week to $31,602 million. Member bank borrowings from Federal Reserve Banks increased while required and excess reserves declined. On weekly average, excess reserves were slightly negative reflecting the large surplus reserve carryover of the previous week. The major factor providing reserves in the latest statement week was a seasonal increase in float. Partially offsetting this reserve gain was an increase in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $45 million net, on a weekly average basis. The Trading Desk made some outright purchases of Treasury bills and coupon issues during the week, but this was more than offset by maturing repurchase agreements made in the previous week. Member bank borrowings averaged $115 million and exceeded excess reserves by $189 million. In the previous week excess reserves exceeded borrowings by $391 million. rtember 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 22, March 15, March 24, March 22, 1972 1972 1972 1971 (Irl millions of dollars) 68,285 + -- - 810 + -- - 67 + -- 115 3,274 797 73,348 9,588 400 7,868 91,203 60,257 391 978 189 617 2,191 64,622 26,581 5,021 31,602 31,676 -74 234 288 +5,862 83 48 9 + 3 33 + - + 1/ 68,585 — 810 4 810 13 27 69 101 218 732 + 336 + 48 + 440 4 421 - 125 +6,649 -1,144 -- -- + + + + + + + + + 20 460 35 14 224 18 21 22 334 + 626 +6,131 +4,044 74 + 235 + 68 81 + 50 +4,241 3,010 843 74,049 9,588 400 7,877 91,914 60,321 406 1,314 175 608 2,215 65,039 + 126 642 516 37 479 +1,890 + 230 +2,120 +2,262 - 142 26,875 5,021 31,896 31,676 220 --- - -- A net of $210 million of surplus reserves were eligible to be carried forward from the week ended March 15, into the week ending March 22. On March 22, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,796 million, an increase of $54 million for the week. V Includes $33 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 sinee Wednesday March 22, March 15, Mar ch 24, 1972 1971 1972 A S S E T S — 989 9,475 Gold certificate account — — 400 Special Drawing Rights certif. accts. + 3) 324 2 54 + (1,173) Cash + 704 732 88 Discounts and advances + 69 2 + 18 Acceptances--Bought outright — -10 Held under repurchase agreements — 810 + 810 Federal Agency obligatons—Bought outright --9 Held under repurchase agreements U. S. Government securities: 29,006 + 489 43,527 Bought outright--Bills Certificates +2,322 36,147 + 71 Notes + 331 33 + 3,432 Bonds +6.180 593 68,585 Total bought outright + 1/ -— 41 Held under repurchase agreements +6,139 68,585 + 593 Total U.S. Government securities +6,860 70,196 +1,299 Total loans and securities +1,562 (3,375) 11,193 -1,472 Cash items in process of collection — + 25 Bank premises 159 - 163 Other assets 2/ + 53 684 - 118 TOTAL ASSETS +7,349 (4,548) 92,431 H.4.1(a) mum LI A B I L I T IES 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 (1,173) 53,061 26,795 1,314 175 608 28,892 (3,375) 8,263 513 (4,548) 90,729 C A P I T A L A C C O U N T S Capital paid in "" Surplus Other capital accounts 756 742 204 Contingent liability on acceptances purchased for foreign correspondents 262 67 + 234 + 463 9 12 + 676 - 796 8 + 179 "• mtmB — t- +3,609 +2,422 + 388 + 29 61 +2,778 + 927 24 +7,290 + + 41 40 61 22 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Includes $33 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 22, 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 Discounts Accept U. S. Government obligations and •ances securities Holdings Weekly Holdings Weekly Advances Changes changes Within 15 days 730 H5 4,357 43 16 days to 90 days 2 59 16,610 170 91 days to 1 year — — 14,323 397 Over 1 year to 5 years — — 26,410 116 Over 5 years to 10 years — — 5,678 84 Over 10 years _zz ZZ. 1,207 810 Total 732 69 68,585 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 22, 1972 H.4.1(b) Total Boston Philadelphia Nex* York Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) A S S E T S 498 23 1,530 507 23 776 33 892 36 448 22 2,403 70 336 15 207 7 340 15 439 14 1,099 93 324 139 10 273 26 114 10 58 38 80 39 212 36 65 43 20 20 15 9 33 35 50 16 114 42 732 -- 668 — — * 1 26 2 — 4 1 30 69 -- 69 _- __ -- .. -- .. __ __ «. _ 810 38 205 43 62 60 43 132 30 15 33 37 112 29,006 1,357 7,335 1,538 2,215 2,166 1,529 4,720 1,069 560 1,187 1,313 4,017 36,147 3.432 68,585 1,691 161 3,209 9,141 868 17,344 1,917 182 3,637 2,761 262 5,238 2,698 256 5,120 1,905 181 3,615 5,881 558 11,159 1,333 127 2,529 697 66 1,323 1,480 140 2,807 1,636 155 3,104 5,007 476 9,500 68,585 70,196 3,209 3,247 17,344 18,286 3,637 3,680 5,238 5,300 5_J20 5,180 3,615 3,659 11,159 11,317 2,529 2,561 1,323 1,338 2,807 2,844 3,104 3,142 9,500 9,642 14,568 159 684 850 2 53 2,490 8 159 754 3 42 1,008 26 48 1,103 13 50 1,682 16 32 2,459 17 98 771 15 23 602 22 15 944 17 26 929 12 28 976 8 110 96,979 4,822 22,865 5,133 7,287 7,393 6,107 16,472 3,761 2,215 4,254 4,630 12,040 Gold certificate account Special Drawing Rights certif. acct. 9,475 F.R. notes of other banks Other cash 1,173 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 repurchase agreements Total U.S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 1/ 2/ 400 M I n c l u d e s $33 m i l l i o n s e c u r i t i e s l o a n e d - - f u l l y s e c u r e d by U . S . Government s e c u r i t i e s p l e d g e d w i t h F e d e r a l Reserve Banks. I n c l u d e s a s s e t s denominated in f o r e i g n c u r r e n c i e s . 49 — „. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Phila- Clevedelphia land Richmond Atlanta MARCH 22, 1972 Chicago St. 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 accriled 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 54,234 2,892 13,330 3,167 4,396 4,817 2,697 9,405 2,116 921 2,039 2,093 6,361 26,795 1,314 993 76 7 2 6,378 1,152 1,747 1,264 1,818 4,462 4,539 62 15 203 8 22 91 11 5 127 24 8 693 68 4 1,616 74 8 2 862 63 5 1,271 276 60 7 2 75 9 1 139 21 25 4,621 2,100 930 639 765 480 1,340 1,701 4,724 783 722 663 175 608 28,892 11,638 1,078 752 1/ 56 2/541 7,251 1,717 513 25 129 26 40 37 29 84 19 11 20 23 70 95,277 4,747 22,427 5,045 7,134 7,299 5,995 16,210 3,704 2,177 4,182 4,539 11,818 756 742 204 33 34 8 195 193 50 39 38 11 69 68 16 40 38 16 52 50 10 115 111 36 25 25 7 17 17 4 32 32 8 41 41 9 98 95 29 96,979 4,822 22,865 5,133 7,287 7,393 6,107 16,472 3,761 2,215 4,254 4,360 12,040 262 11 3/ 68 14 24 14 18 39 9 6 11 14 34 951 2,109 2,242 6,727 1,236 — 1,824 1,497 616 874 948 1,925 1,344 — * FEDERAL RESERVE AGENTS1 ACCOUNTS F, R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 1/ 7/ 3/ 14,115 3,293 4,607 4,959 500 300 350 285 3,000 13,800 3,150 4,400 4,720 3,150 14,300 3,450 4,750 5,005 After deducting $119 million participations of other Federal Reserve Banks, Includes IMF gold deposit. After deducting $194 million participations of other Federal Reserve Banks. 2,970 9,699 2,202 700 155 3,100 9,300 2,130 970 2,175 2,330 7,000 3,100 10,000 2,285 970 2,175 2,335 7,000 — * — — Less than $500,000. 5
@FedFRASER