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ov «..o^. •?f«S»V FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release March 9, 1972 The average of daily figures for total reserves of member banks declined $105 million in the latest statement week to $31,490 million. Excess reserves and member banks borrowings from Federal Reserve Banks increased, while required reserves declined. A somewhat greater than seasonal decline in float and an increase in currency in circulation were the major factors absorbing reserves in the latest statement week. Partially offsetting these reserve drains was a reduction in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations provided $150 million of reserves net, on a weekly average basis. Excess reserves averaged $167 million and exceeded borrowings by $64 million compared to the revised figure of $2 million for the previous week. 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 Discounts and advances-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 Required reserves Excess reserves NOTE: Averages of daily figures Week ended Chang^e from week ended Wednesday, March 1U, March 8, March I, March 8, 1972 1972 1972 1971 (IrI millions of dollars) 68,045 + 152 +5 ,876 1/68,045 33 2 727 + 727 727 4 — + 16 4 63 + 35 - 318 703 2,922 _ 16 122 2,798 + 72,569 9,588 - 513 45 283 + 707 +6 ,155 73,085 9,588 64 103 400 7,834 90,391 59,871 376 1,031 139 587 2.337 64,342 26,049 5,441 31,490 31,323 167 + - — — -1,144 16 266 + 611 + ,175 + 7 - 308 80 3 + 68 - 139 _ 127 22 - 105 - 202 + 97 + - 749 400 +5 ,622 +3 ,871 91 13 + 3 - 145 42 +3 ,583 +2 ,038 + 48 +2 ,086 +2 ,001 + 85 7,842 90,915 60,215 382 1,081 150 548 2.360 64,736 26,179 5.441 31,620 31,323 297 A net of $85 million of surplus reserves were eligible to be carried forward from the week ended March 1, into the week ending March 8. On March 8, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $29,532 million, an increase of $196 million for the week. 1/ Includes $24 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) We<inesday M<arch 8, 1972 ASSETS Gold certificate account Special Drawing Rights certif. accts. Cash Discounts and advances Acceptances--Bought outright Held under repurchase agreements Federal Agency obligatons—Bought outright Held under repurchase agreements U. S. Government securities: Bought outright—Bills Certificates 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 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 Change sine e March 1, Mar ch 10, 1972 1971 9,475 * (1,206) 400 322 703 63 M 989 mm -• — 3 + - -- 644 — .--_ 56 818 + 16 28 + 727 30 28,646 100 +3,209 36,034 3,365 1/ 68,045 - — 100 +2,316 + 287 +5,812 - 232 157 592 + + + 100 544 488 3 39 +5,580 +5,447 + 838 + 24 - 136 (4,103) 91,200 + 95 +5,240 (1,206) 52,964 26,099 1,081 + + + 404 103 47 13 + 42 412 1 33 +3,453 +1,550 - 122 + 16 - 197 +1 ,247 + — 727 68,045 69,538 (2,897) 10,716 150 548 27,878 (2,897) 7,998 524 (4,103) 89,364 £ A Z I 1 £ L A C C O U N T S Capital paid in Surplus Other capital accounts 756 742 338 Contingent liability on acceptances purchased for foreign correspondents 263 27 + + 1 + - 582 13 +5,269 + — + 61 - 43 40 112 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $24 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 8, 1972 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Accept U. S. Government Federal Agency Discounts securities •ances obligations and Holdings Weekly Holdings Weekly Advances Changes changes Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total 702 1 — — — 703* 22 41 — — — 63 3,484 17,099 14,337 26,318 5,647 1,160 68,045 - 17 +665 -748 — — --100 — — 42 150 366 99 +36 -36 70 727 — — — T- STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON H.4.Hb) Total Boston Philadelphia New York Cleveland Richmond Atlanta 0'.n MARCH 8, 1972 Chicago St. Louis Minneapolis Kansas City Da lias San Francisco millions of dollars) A S S E T S Gold certificate account Special Drawing Rights certif. acct. 9,475 400 345 23 2,218 93 537 23 804 33 953 36 488 22 1,925 70 384 15 128 7 240 15 401 14 1,052 49 F.R. notes of other banks Other cash 1,206 322 151 9 256 27 112 10 65 38 74 41 241 35 69 41 18 20 17 10 31 35 56 16 116 40 699 * 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: 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/ 703 1 - 63 -- -- 63 -- -- -- -- -- -- --- -- --- _. 727 -- 34 -- 184 -- 39 _. 55 .- 54 -- 38 -- 118 _- 27 -- 14 -- 30 -- 33 -- 101 -- 28,646 1,341 7,244 1,519 2 ,188 2,139 1,510 4,660 1,056 552 1,172 1 ,297 3,968 -36,034 3,365 68,045 -68,045 69,538 -1,686 157 3,184 -3,184 3,218 -9,112 851 17,207 -17,207 18,153 -1,911 178 3,608 -3,608 3,648 -2 ,752 257 ~5",197 -jf,197 5 ,252 -2,690 251 5,080 -5,080 5,134 -1,899 178 3,587 — 3,587 3,625 -5,863 548 11,071 -11,071 11,189 -1,329 124 2,509 -2,509 2,537 -695 65 1,312 -1,312 1,326 _1,475 138 2,785 -2,785 2,817 -_ 1 ,631 152 3",080 -J,080 3 ,113 4,991 466 9,425 -9,425 9,526 13,613 157 592 811 2 53 2,337 8 142 733 3 41 880 25 41 1,027 13 42 1,484 16 27 2,322 17 83 725 15 19 553 21 13 957 17 23 873 12 24 911 8 84 4,612 23,234 5,107 7 ,138 7,320 5,938 15,716 3,733 2,075 4,135 4 ,509 11,786 95,303 Includes $24 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. 2 ~ H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON New Total Boston York Phila- Clevedelphia land Richmond MARCH 8 , 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 foreign correspondents 54,170 2,888 13,332 3,161 4,391 4,820 2,685 9,371 2,109 912 2,031 2,089 6,381 26,099 1,081 893 28 7 7,037 1,146 1,667 1,314 1,738 3,894 4,263 107 14 167 8 24 90 108 22 4 72 6 2 71 8 3 136 19 20 1,842 1,260 615 46 4 1 666 446 1,530 47 8 2 860 57 5 1 923 620 1,142 152 1,222 1,612 4,438 783 689 654 150 548 27,878 10,895 1/ 39 * 487 928 691 7,715 1,583 1,203 — 1,788 1,513 621 752 847 10 - 4. 4,028 1,949 524 24 129 27 43 38 33 84 19 11 22 23 71 93,467 4,531 22,759 5,012 6,974 7,218 5,820 15,432 3,671 2,035 4,058 4,413 11,544 756 742 338 33 34 14 195 193 87 39 38 69 68 27 40 38 24 52 50 16 115 111 58 25 25 12 17 17 6 32 32 13 41 41 14 98 95 49 95,303 4,612 23,234 5,107 7,138 7,320 5,938 15,716 3,733 2,075 4,135 4,509 11,786 263 12 2/ 68 14 24 14 18 39 9 6 11 14 34 "335 TJWT 16 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 14,102 37274 47601 4,950 500 300 350 285 13,800 3,150 4,400 4,720 14,300 3,450 4,750 5,005 2,975 975315 2,176 700 155 3,100 9,300 2,080 3,100 10,000 2,235 * After deducting $ 95 million participations of other Federal Reserve Banks. T7TW 5 970 970 2,175 2,175 1./ After deducting $ 111 million participations of other Federal Reserve Banks, 3/ 2,236 Less than $500,000. 2,330 7,000 2,335 7,000
@FedFRASER