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of c o w - . FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release March 29, 1973 The average of daily figures for total reserves of member banks declined $343 million in the latest statement to $31,659 million. Required reserves, excess reserves and member bank borrowings all declined. A sharp decline in float was the major factor absorbing reserves in the latest week. Declines in currency in circulation and Treasury deposits at Federal Reserve Banks partially offset this reserve drain. In addition, System Open Market operations provided $154 million reserves, on a weekly average basis. Member bank borrowings averaged $2,013 million and exceeded excess reserves by $1,943 million compared to $1,867 million in 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 obligations-Bought outright Held under repurchase agreements Acceptances-Bought outright Held under repurchase agreements Loans-Member 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 2/ Required reserves Excess reserves 2/ NOTE: Averages of dalily figures Week ended Change from week ended Wednesday, * March 28,* March 21, March 29, March 28, 1Q7T 1071 1Q7? 1Q7^ (Itl millions of dollars) 72,609 342 +106 + 56 +3,804 + 214 V 72,770 1,084 1,280 -+ 13 + + 470 26 1,280 27 76 22 - 1 - 20 + + 6 9 75 69 2,013 -128 +1,860 2,028 1,775 -848 + 32 -792 - 911 + 58 +5,535 + 822 1,970 908 79,051 10,410 400 ..8,420 98,281 65,129 388 3,625 304 643 2,559 72,648 25,633 5,747 31,659 31,589 70 -— 59 949 80,284 10,410 — 400 + 12 -780 -121 + 8 -106 - 61 - 7 + 60 -228 18 396 +2,739 + 126 + 67 + 296 +8,165 3,382 2^596 72,791 -552 +209 -343 -139 -204 -1,270 + 431 - 560 - 345 - 215 26,726 5,747 32,752 31,589 1,163 + 538 +6,895 +4,954 8,422 99,516 65,349 359 709 A net of $131 million of surplus reserves were eligible to be carried forward from the week ended March 21, into the week ending March 28. On March 28, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $32,120 million, an increase of $24 million for the week. 1/ Includes $71 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Adjusted to include $279 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. The adjustment amounted to $450 million from November 9, through December 27. * Estimated (Cleveland District). H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since March 21, March 29, March 28, 1972 1973 1973 ** ASSETS — 10,303 + 828 Gold certificate account * — -Special Drawing Rights certif. accts. 400 Cash (1, 168) 30 8 + 353 - 955 + 998 Loans 2,028 -Acceptances--Bought outright 4 75 Held under repurchase agreements 21 69 + 69 Federal Agency obligatons—Bought outright + 470 1,280 Held under repurchase agreements 59 + 59 + 51 U. S. Government securities: Bought outright—Bills + 947 +3,034 32,430 Certificates Notes 36,839 + 692 Bonds 3,501 + 69 + Total bought outright 947 +3,795 72,770 1/ Held under repurchase agreements +1,084 + 188 1,084 Total U,S» Government securities +2 ,031 +3,983 73,854 Total loans and securities ,204 +1 +5,477 77,365 Cas^ lt*ms in process of collection (1,913) ,288 -1 -2,624 7,563 Bank premises 197 + 38 Other assets 2/ + 48 752 + 14 TOTAL ASSETS (3,081) 44 +3,763 96,933 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 C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts (1,168) (1,913) (3,081) 57,568 26,646 3,382 359 709 31,096 5,673 685 95,022 807 793 311 + 15 + 932 -1,042 + 72 + 76 + 38 - 200 + 21 126 +4,396 -1,825 +2,465 + 154 + 120 + 914 -1,841 + 151 +3,620 + + + + + 1 — 81 46 51 46 Contingent liability on acceptances purchased for foreign correspondents 282 + 3 + 1 8 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $71 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. ** Estimated (Cleveland District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 28, 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 -ances securities Loans Holdings Weekly Holdings Weekly Changes changes Within 15 days 6,199 68 +68 +2 ,074 2 ,011 84 - 9 16 days to 90 days 51 20,890 60 17 + 56 — 91 days to 1 year 214 — — 13,047 99 -— -— Over 1 year to 5 years 568 28,021 -— — -Over 5 years to 10 years 247 4,119 -— Over 10 years — — 1,578 lfl Total 73,854 +2,031 1,339 +59 2 ,028 144 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 28, 1973 H.4.1<b) Total Boston New York Philadelphia Cleveland* Richmond St. Atlanta Chicago Louis (In millions of dollars) Minneapolis Kansas City Dallas San Francisco A S S E T S 10,303 Gold certificate account Special Drawing Rights certif. acct. 400 924 23 1,403 820 23 449 33 861 36 202 22 1,828 70 272 15 289 7 369 15 378 14 2,508 93 49 F.R. notes of other banks Other cash 1,168 353 154 19 209 26 37 10 65 42 98 38 238 42 64 44 21 24 18 6 27 44 61 14 176 44 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 J7 Held under repurchase agreements Total U.S. Government securities Total loans and securities 2,028 46 524 156 172 186 79 547 81 53 91 44 49 75 69 --- 75 69 --- --- --- --- --- -— — -- --- --- --- I 1,280 I 59 56 -- 338 59 64 -- 96 -- 95 -- 71 -- 208 -- 48 -- 25 — 52 -- 56 -- 171 -- I 32,430 1,424 8,568 1,635 2,444 2,421 1,793 5,260 1,209 631 1,310 1 ,410 4,325 -- -- -- 1,489 i,601 4,912 142 152 467 2,941 ~T,163 9,704 Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 1/ \l * i 36,839 3,501 j 72,770 j 1,084 73,854 77,365 -- -- -- -- -- -- -- -- 1,618 9,733 1,858 2,777 2,750 2,036 5,976 1,373 154 925 176 264 261 194 568 130 -716 68 3,196 19,226 1,084 20,310 21,375 3,669 5,485 5,432 4,023 11,804 2,712 1,415 -- -- -- -- -- -- -- -- -- -- 3,669 3,889 5,485 5,753 5,432 5,713 4,023 '4,173 11,804 12,559 2,712 2,841 1,415 1,493 2,941 3,084 ,163 3*,263 9,704 9,924 -3,196 3,298 345 31 31 1,490 666 27 52 974 13 57 1,361 15 39 16 105 421 14 24 346 32 35 600 17 26 582 12 29 1,011 7 196 580 5 45 1,100 197 752 100,014 4,825 24,799 5,409 7,087 7,790 5,831 16,047 3,632 2,226 4,182 4,353 13,833 9,476 Includes $71 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (Cleveland District). 8 113 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 28, 1973 Total New York Boston Phila- Clevedelphia land * Richmond Atlanta Chicago St. Louis Minneapolis Kansas City San Dallas Francisco (In millions of dollars) Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrtted dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for foreiLgn correspondents 58,736 3,039 14,606 3,621 4,656 5,235 3,014 9,822 2,300 1,056 2,309 2,225 6,853 26,646 3,382 359 709 31,096 7,586 1,086 238 12 1 1,337 341 6,671 807 1/ 156 599 8,233 1,220 1,077 220 14 15 1,326 337 1,446 188 25 1,659 554 1,247 393 14 20 1,674 724 1,652 190 19 7 1,868 778 4,155 453 43 37 4,688 1,126 726 149 9 2 886 356 578 186 6 3 773 337 1,037 171 12 4 1,224 543 1,380 133 15 3 1,531 469 5,591 254 34 18 5,897 751 685 29 48 40 4,746 32 5,316 51 98,103 193 24,302 6,920 7,681 5,700 107 15,743 24 3,566 17 2,183 27 4,103 28 4,253 89 13,590 807 793 311 33 34 12 208 207 82 39 39 15 72 72 23 43 42 24 58 55 18 127 124 53 28 37 11 19 18 6 34 33 12 44 43 13 102 99 42 100,014 4,825 24,799 5,409 7,087 7,790 5,831 16,047 3,632 2,226 4,182 4,353 13,833 14 26 15 20 9 t 12 15 35 1,084 2,388 2,356 7,304 282 12 .2/ 74 44_ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 61,591 3,230 2,191 280 61,380 63,571 3.010 3,290 15,545 15,850 15,850 3,675 4,815 5,402 200 350 501 3,500 3,700 4,700 5,050 4.950 5,451 1/ After deducting $203 million participations of other Federal Reserve Banks. 2/ "* After deducting $ 208 million participations of other Federal Reserve Banks. Estimated (Cleveland District). 3,297 3,500 3,500 10,087 2,408 700 155 9.900 10,600 2.330 2,485 5 1.110 1,110 2.450 2,450 2.480 2,485 7.600 7,600
@FedFRASER