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O* (-Oy, '&U.: ••f^URE^V FEDERAL RESERVE m* Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 11, 1972 The average of daily figures for total reserves of member banks declined $77 million in the latest statement week to $32,786 million. Required reserves and member bank borrowings at Federal Reserve Banks declined while excess reserves increased. Increases in currency in circulation and Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. A contraseasonal increase in float provided $202 million of reserves. In addition, System Open Market operations provided $192 million reserves net, on a weekly average basis. The rise in the gold stock reflects the increase in the official price of gold to $38 per ounce effective on May 8. This was offset by an equal increase in Treasury cash holdings. Excess reserves averaged $229 million and exceeded borrowings by $144 million compared to $50 million in 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 obligationsBought outright Held under repurchase agreements AcceptancesBought 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 Required reserves Excess reserves NOTE: Averages of daily figures | Week ended Chan ge from week ended Wednesday, May 3, May 10, May 10, May 12, 1972 1972 1972 1971 (Irl millions of dollars) 70,545 -- + 979 — 187 -- +6,564 - 478 __ -- + - 5 + 1/70,369 ~ 979 45 979 -- 29 82 — — 38 — 85 32 14 493 202 41 404 352 + 692 - 162 +7,528 - 621 — + 626 +7,534 +3,846 + 241 +1,204 3,114 1.1.80 76,217 10,410 88 3,232 1,135 76,065 9,940 + + + + — 400 7,971 94,376 61,010 748 2,518 136 574 2,305 67,291 27,084 5,702 32,786 32,557 229 + 17 + 773 + 342 + 345 + 428 55 29 51 + 980 - + - + 209 132 77 139 62 400 31 7,976 95,003 61,322 1,224 | 2,686 ' 121 - 115 + 6 +5,152 2,167 68,126 +2,381 + 321 +2,702 +2,703 26,877 5,702 32,579 32,557 1 22 606 A net of $72 million of surplus reserves were eligible to be carried forward from the week ended May 3, into the week ending May 10. On May 10, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $28,781 million, a decrease of $104 million for the week. 1/ Includes $42 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 May 10, May 3, May 12, 1972 1972 1971 A S S E T S — - 600 9,475 Gold certificate account — — 400 Special Drawing Rights certif. accts. + 1 329 (985) + 65 Cash 493 + 465 + 23 Loans + 24 3 82 Acceptances—Bought outright Held under repurchase agreements + 979 979 Federal Agency obligatons—Bought outright Held under repurchase agreements U. S. Government securities: 113 +3,860 30,381 Bought outright—Bills Certificates — +2,268 36,448 Notes — + 320 3,540 Bonds +6,448 113 1/ 70,369 Total bought outright -— - 264 Held under repurchase agreements +6,184 113 70,369 Total U.S. Government securities +7,652 71,923 93 Total loans and securities + 277 ,140 1Q.864 -1 (3,092) Cash items in process of collection + 24 163 + 1 Bank premises 168 + 45 1,017 Other assets 2/ +7.250 94,171 ^1,,186 (4,077) TOTAL ASSETS H.4.1(a) tiAnLiiiE s 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 (985) 53,964 26,797 2,686 121 606 (3,092) 30,210 7,830 (4,077) 92,556 552 C A P I T A L A C C O U N T S , Capital paid in Surplus Other capital accounts 762 742 111 Contingent liability on acceptances purchased for foreign correspondents 265 + 376 - + - 394 1 15 46 364 978 14 980 1 — - 205 +3,425 +2,746 +1,574 40 81 +4,199 - 392 + 20 +7,252 + + - 40 40 82 21 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Includes $42 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2J Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 10, 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 Loans securities obligations -ances Holdings Weekly Holdings Weekly changes Changes — 6,822 +113 Within 15 days 491 23 -136 15,008 112 16 days to 90 days 2 59 14,840 - 90 187 91 days to 1 year — 442 26,665 Over 1 year to 5 years — 5,804 134 Over 5 years to 10 years -1,230 104 Over 10 years — — -113 70,369 979 Total 493 82 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 10, 1972 H.4.1(c) Total Boston New York Phila- Clevedelphia land Richmond Atlanta 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 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 fore:Lgn correspondents 54,949 2,920 13,496 3,212 4,420 4,886 2,767 9,454 2,162 954 2,101 2,118 6,459 26,797 2,686 121 606 30,210 10,922 1,001 178 5 2 1,186 759 6,668 491 1/ 36 545 7,740 1,686 1,075 254 6 3 1,338 625 1,714 184 10 1 1,909 827 1,324 232 6 18 1,580 818 1,733 215 8 4 1,960 1,300 3,787 266 17 4 4,074 1,733 932 127 4 1 1,064 597 667 122 3 792 448 1,139 148 5 3 1,295 749 1,387 159 6 /, 1,556 683 5,370 310 15 21 5,716 697 552 96,633 27 4,892 135 23,057 29 5,204 43 7,199 40 7,324 34 6,061 90 15,351 21 3,844 12 2,206 21 4,166 24 4,381 76 12,948 762 742 111 33 34 4 196 193 26 39 38 5 69 68 8 40 38 8 52 50 7 118 111 23 25 25 3 17 17 3 33 32 4 42 41 5 98 95 15 98,248 4,963 23,472 5,286 7,344 7,410 6,170 15,603 3,897 2,243 4,235 4,469 13,156 265 12 2/ 69 14 24 14 18 39 9 6 11 15 34 989 2,169 2,262 6,783 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,084 150 3,000 3,150 14,251 — 14,450 14,450 3,319 4,567 5,016 300 350 285 3,150 3,450 4,400 4,750 4,815 5,100 1/ After deducting $ 85 million participations of other Federal Reserve Banks. 2/ After deducting $196 million participations of other Federal Reserve Banks. 2,994 3,100 3,100 9,655 2,241 700 155 9,300 10,000 2,130 2,285 5 1,000 1,000 2,225 2,225 2,330 2,335 7,000 7,000 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 10, 1972 H.4.Ub) Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago 0.n millions St. Louis Minneapolis Kansas City Dallas San Francisco of dollars) ASSETS Gold certificate account Special Drawing Rights certif. acct. 9,475 400 420 23 2,237 93 578 23 706 33 814 36 412 22 1,450 70 340 15 207 7 353 15 195 14 1,763 49 F.R. notes of other banks Other cash 985 329 126 13 216 25 110 11 43 37 72 40 217 36 38 47 16 20 10 10 32 35 31 15 74 40 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 Held under repurchase agreements Total U.S. Government securities Total loans and securities 493 87 370 _ _ 10 20 2 . 82 — — — 82 — -— --- — —. -— --- --- __ __ .. __ .. __ .. 979 46 — 244 .- 51 -- 75 -- 72 — 53 -- 161 — 37 -- 20 -- 39 -- 44 -- 137 -- 30,381 1,430 7,574 1,572 2,327 2,249 1,636 4,983 1,152 609 1,207 1,383 4,259 — 36,448 3,540 70,369 -70,369 ! 71,923 -1,716 167 3,313 -. 3,313 3,446 -9,086 882 17,542 -17,542 18,238 — 1,886 183 3,641 — 3,641 3,692 — 2,792 271 5,390 -5,390 5,465 -2,698 262 5,209 -5,209 5,291 --' 1,962 191 3,789 -3,789 3,862 — 5,978 581 11,542 -11,542 11,705 -1,382 134 2,668 _2,668 2,705 -731 71 1,411 -1,411 1,431 -1,449 141 2,797 -2,797 2,840 .1,659 161 3,203 — 3,203 3,247 -5,109 496 9,864 — 9,864 10,001 13,956 163 1,017 863 2 70 2,416 8 239 805 4 63 962 27 71 1,072 13 72 1,553 16 52 2,123 17 153 749 15 37 531 24 23 903 17 40 910 12 45 1,069 8 _152 98,248 4,963 23,472 5,286 7,344 7,410 6,170 15,603 3,897 2,243 4,235 4,469 13,156 Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS \j i 1/ Includes $42 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 4
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