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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R, Banks For immediate release H.4.1 May 2, 1974 The average of daily figures for total reserves of member banks increased $731 million in the latest statement week to a level of $36,840 million. Excess reserves declined while required reserves and member bank borrowings from Federal Reserve Banks increased. The major factors absorbing reserves in the latest week were a decline in Federal Reserve float and an increase in Treasury deposits with Federal Reserve Banks. A decline in Currency in circulation partially offset these reserve drains. In addition. System Open Market Operations provided a sizable amount of reserves both through outright purchases and through 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 t.R. B..r->k.F o r e i g n d e p o s i t s w i t h F.P Bank". O t h e r d e p o s i t s tfith F . R . Bank 1 -L' O t h e r F.R, l i * b \ 1 J.: l e s .ma c a r - j j Averages o f daily figures Week ended Change from wee c ended Wednesday, May 1, * "j£pril 24; May 2, May 1,* 1974 1974 1973 1974 (In mi 11 ions of dollars) • + 475 + 264 +4,637 + 573 i/79,213 + + 166 137 +1 ,170 + 202 2,436 227 82 183 + + 4 56 1 + 157 86 118 + 219 +. 20 + 283 + 58 1,867 - 589 + 98 + 831 --+ 1.0 + 841 - 266 13 +, «. 264 + 169 2,881 1,374 88,751 11,567 79,201 867 2,436 2,157 74 1,902 -1*289 88,344 11,567 400 8,822 109,133 72,042 301 2,460 343 671 „JulM.. + 794 .+,, 74 ~ 32 + 127 + 710 „, 566 210 83 +6 ,926 +1 ,157 400 — + 361 +8 ,444 +5 ,909 - 118 -1 ,624 + 30 + 11 + 421 1 I 8,826 109,544 72,293 300 2,948 544 ! ! j 699 3,129 79,913 78.941 +4,630 Member bank r e v i v e s ; 29,631 30,191 With F e d e r a l R e s e r v e Banks +3,812 6,591 C u r r e n c y and c o i n + 640 36,280 +4,338 T o t a l r e s e r v e s h e l d 27 36,840 36,682 Required reserves +4,411 36,682 - 402 Excess reserves 2/ 158 73 NOTE A net of $118'million of surplus reserves were eligible to be carried forward from the week ended April 24, into the week ending May 1. On May 1, 1974, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,484 million, an increase of $326 million for the week. 1/ Includes $181 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks, 2/ Adjusted to include $58 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 $45 million 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,. Estimated 'Boston, Dallas and San Francisco Districts), CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE, BANKS (In millions of dollars) Change since Wednesday May 1,** May 2, Apr. 24, 1974 - ,19.74 -±97.3 A S S E T S -„ 1,460 Gold certificate account +1 ,157 Special Drawing Rights certif. accts. 400 — — Cash - 10 - 80 231 (1,154) Loans - 302 +1 ,050 1,867 Acceptances—Bought outright 86 + 1 5 Held under repurchase agreements — + 61 118 Federal Agency obligations--Bought outright + 194 2,436 +1 ,180 Held under repurchase agreements 210 + 105 + 137 U.S. Government securities: Bought outright—Bills + 522 +2,994 37,081 Certificates Other Notes +2,152 39,128 .._ Bonds 3,004 — - 567 Total bought outright + 522 +4,579 79,213 Held under repurchase agreements + 65 566 + 115 Total U.S. Government securities 79,779 + 637 +4,644 Total loans and securities 84,496 + 639 +7,071 Cash items in process of collection - 966 8,954 + 705 (1 843) Bank premises + 32 — 231 Other assets 2/ + 165 1,143 + 145 TOTAL ASSETS +7,379 106,915 ±1.,479 (2 ,997) H.4.1(a) L I A B I L I T I E S Federal Reserve notes Deposits: Member bank-reserves account U. S. Treasurer--general account Foreign Other 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (1 ,154) 63,891 29,551 2,948 544 699 (1,843) (2,997) 33,742 6,153 1,077 104,863 19 •f 174 + 523 + 265 1 + 961 + 434 1 +1 ,375 +5,362 +3,182 -1,466 + 202 + 33 +1,951 - 309 + 305 +7,309 £ A £ I 1 A L ACCOUNTS! Capital paid in Surplus Other capital accounts 873 844 335 + 1 -„ + 103 + + - 59 51 40 Contingent liability on acceptances purchased for foreign correspondents 593 «. 4 4. 354 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $181 million securities loaned--fully S€>cured by U.S. Government securities pledged with Federal Reserve Banks. 27 Includes assets denominated in foreign currencies. 3/ Includes $45 million of certain deposits of domestic nonmember banks and foreignowned banking institutions held with member banks arid 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. ** Estimated (Boston, Dallas and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 1. 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 AcceptLoans Weekly Holdings Weekly Holdings ances Changes changes +105 6S921 139 Within 15 days 1,830 +1 ,478 210 + 4 18,534 - 928 119 62 16 days to 90 days 37 + 13 + 87 260 22,150 3 91 days to 1 year + 81 22,516 978 Over 1 year to 5 years + 67 — 723 7,836 Over 5 years to 10 years + 29 — 356 1,822 Over 10 years -+299 79,779 + 637 2,646 204 Total 1,867 c - H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 1, 1974 Boston * Total New York Philadelphia Cleveland Richmond Atlanta On Chicago St. Louis Minneapolis Kansas City Da lias* San * Francisco millions of dollars) A S S E T S 400 967 23 2,648 93 728 23 815 33 799 36 470 22 1,597 70 434 15 214 7 454 15 241 14 2,093 49 F. B. notes of other Banks Other cash 1,154 231 62 14 301 18 52 2 57 31 110 25 174 35 61 23 33 16 16 7 31 26 74 12 183 22 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 1,867 103 182 127 172 173 227 354 116 78 109 128 98 86 118 --- 86 118 — -- — — — — — — — — --- 2,436 210 109 625 210 130 174 180 134 391 91 51 93 110 — — — — ~ — -- -- — — 37,081 1,656 9,516 1,977 780 1,421 Gold certificate account Special Drawing Rights certif. acct. Cash items in process of collection Bank premises Other assets TOTAL ASSETS 2/ i 11,460 -- -» -- _- -- 2,086 160 4,223 2,791 214 5,650 4,223 4,480 5,650 495 27 j 3,538 84,496 J 3,750 10,797 231 1,14^ 424 49 1,902 10 455 14 45 ?7R 65 .109,912 5,334 27,366 5,819 | 1 | 2,645 1,748 134 3,538 10,042 771 20,329 566 20,895 22,116 39,128 3,004 79,213 566 79,779 — — — — — 5799^ a2__ 7,546 — -- 2,738 — 2,888 222 5,848 — — — 2,036 — -- 5,951 1,386 -- -- -- 2,147 165 4,348 6,280 482 12,713 1,463 113 2,962 — — 5,848 6,201 4,348 4,709 12,713 13,458 1,064 14 SL3_ 1,097 15 1,485 16 57 157 8,342 6,579 16,867 — 2,962 3,169 513 14 3-54,229 1/ Includes $181 million of securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. * Estimated (Boston, Dallas, and San Francisco Districts). — 823 _ 63 ,666 — 1,500 115 3,036 1 ,681 «. 1 ,774 136 ,591 348 -5,294 -- 5,586 429 11,309 ,666 1 ,795 3,036 3,238 ~T — T 3 ,591 ,£29 489 35 25 982 17 38 768 12 46 1,123 8 212 2 ,588 4,801 4 ,996 15,445 _ — — — 11,309 11,755 H.4.1(c) STATEMENT OF CONDITION OF EACK FEDERAL RESERVE BANK ON MAY 1, 1974 * 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 3/ Total deposits Deferred availability cash items Other liabilities and accnled 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 65,045 3,209 16,116 4,112 5,181 5,789 3,395 10,728 2,634 1,218 2,484 2,441 7,738 29,551 2,948 544 699 33,742 7,996 1,314 254 16 4 1,588 407 7,619 697 1/256 604 9,176 1,237 1,039 125 19 10 1,193 358 1,519 156 34 1 1,710 403 1,316 114 22 24 1,476 883 2,020 234 28 24 2,306 673 4,331 154 61 11 4,557 1,098 843 265 13 2 1,123 365 775 44 9 2 830 468 1,134 293 16 4 1,447 747 1,544 279 21 9 1,853 550 6,097 333 49 4 6,483 807 1,077 107,860 48 5,252 300 26,829 55 5,718 75 7,369 75 8,223 58 6,432 164 16,547 3ft 4,160 24 39 46 155 2,540 4,717 4,890 15,183 873 844 335 35 34 13 227 215 95 42 42 17 77 74 26 48 47 24 66 62 19 135 132 53 28 29 12 21 20 7 36 35 13 47 46 13 111 108 43 t r\r\ r\t r\ ±.vy tyL£ 5,334 27,366 5,819 7,546 8,342 6,579 16,867 _4»2_29 , 2,588 4.801 4.996 15,445 698 29 2/178 34 61 39 51 110 24 16 29 1,270 2,625 38 ... 22...., FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,337 100 16,963 — 4,180 5,342 6,023 350 350 595 3,681 — 11,038 2,782 700 50 2,607 8,164 5 3,280 17,050 3,900 5,200 5,500 3,900 10,600 2,785 1,300 3,380 17,050 4,250 5,550 6,095 3,900 11,300 2,835 1,300 2,700 2,700 2,680 2,685 8,300 8,300 1/ After deducting $ 288 million participations of other Federal Reserve Banks. 2/ 3/ After deducting $ 520 million participations of other Federal Reserve Banks. Includes $45 million 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 System1s program of credit restraint. * Estimated (Boston, Dallas and San Francisco Districts).
@FedFRASER