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FEDERAL RESERVE
Factors Affecting Bank Reserves and
Condition Statement of F.R. Banks
For immediate release
May 23, 1974
H.4.1
The average of daily figures for total reserves of member
banks declined $458 million in the latest statement week to a level
of $36,250 million. Required reserves and member bank borrowings from
Federal Reserve Banks increased while excess reserves declined.
Declines in float and other Federal Reserve assets and an
increase in Treasury deposits with Federal Reserve Banks were the
major factors absorbing reserves in the latest statement week.
System Open Market Operations provided $87 million reserves net,
on a weekly average basis through repurchase agreements. Reserves
were absorbed late in the week through matched sale-purchase transactions ,
Member Dank 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. accc.
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 4/
Other F.R. liabilities and capital
Averages of daily figures
Week ended Change from week ended Wednesday,
May 22, *
May 22,*
May 15,
May 23,
1974
1974
1974
1973
(In millions of dollars)
- 395
+ 225
+3,899
+ 440
1/2/77,204
1,127
2,636
512
+
+
200
23
+1,380
+ 426
2,636
506
89
252
«
+
3
37
1
201
94
163
+1,400
+
80
2,980
111
2,461
946
88,117
11,567
400
8,853
79,120
1,411
+
3,088
112
+1 ,111
5/1,872
879
89,859
11,567
400
8,836
110,662
72,959
278
3,028
343
728
3,218
80,553
.. 93
- 369
+ 737
---
- 257
+ 119
+7,607
+1,157
+
+
+ 349
+9,113
+6,191
- 131
-1,069
+
18
6
743
- 38
7
+ 305
+
66
13
+
+
96
+ 434
--
—
+
74
+ 501
+5,564
1M79SV"
73,099
292
4,332
265
761
3,244
81,993
Member bank reserves;
With Federal Reserve Banks
+ 309
5/30,109
+3,549
26,944
Currency and coin
6,083
6,083
+ 545
- 767
Total reserves held 3/
- 458
+3,980
5/36,250
33,085
Required reserves
+4,310
36,488
25
+
36,488
330
Excess reserves 3/
- 483
5/- 238
A net of $134 million of surplus reserves were eligible to be carried forward
NOTE
from the week ended May 15, into the week ending May 22.
On May 22, 1974, marketable U.S. Government securities held in custody
by the Federal Reserve Banks for foreign and international accounts were
$27,924 million, a decrease of $44 million for the week.
Excludes $2,572 million of securities sold, and scheduled to be bought back,
1/
under matched sale-purchase transactions.
Includes $133 million securities loaned--fully secured by U.S. Government securities
pledged with Federal Reserve Banks.
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.
4/ Includes $45 million of certain deposits of domestic nonmember banks and foreignowned 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 based on incomplete data.
5/
Estimated (Dallas District).
y
11
H.4.1(a)
CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS
(In millions of dollars)
Wednesday
Change since
May 22, ** May 15,
May 23,
1974
1974
i<m
A S S E T S
Gold certificate account
11,460
+1,157
Special Drawing Rights certif. accts.
400
*
—
—
Cash
7
(998)
223
90
Loans
2,980
+1,525
- 519
Acceptances—Bought outright
94
+
4
+
4
Held under repurchase agreements
87
+ 85
163
Federal Agency obligations—Bought outright
2,636
+ 200
+1,380
Held under repurchase agreements
506
+
26
+ 324
U.S. Government securities:
Bought outright—Bills
35,072
2,448
369
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 _3/
TOTAL ASSETS
k I L * Ik
II111
Federal Reserve notes
Deposits: Member bank-reserves account
U. S. Treasurer—general account
Foreign
Other _4/
Total deposits
Deferred availability cash items
Other liabilities and accrued dividends
TOTAL LIABILITIES
£ £ £ I 1 AL
A C C O U N T S
Capital paid in
Surplus
Other capital accounts
1/
2/
39,365
2.767
77,204
1,127
TOTi
(1,652)
84,710
7,904
235
711
(2,650)
105,643
(998)
64,654
26,864
4,332
265
761
(1,652)
(2,650)
32,222
5,523
1,165
103,564
873
844
362
—
—
+
+
+
-
2,448
25
2.423
2,799
2,502
2
113
5.193
137
- 4,704
+ 1,763
93
+
12
- 3,022
- 2,147
+
9
- 5,297
1
—
+
105
+2,429
- 844
+1,954
- 125
+1.829
+5,147
- 112
+
33
+ 126
+6.261
+5,649
- 372
+ 348
25
+ 148
+
99
+
21
+ 311
+6,080
+
+
+
58
51
72
Contingent liability on acceptances
purchased for foreign correspondents
716
13
+ 339
* Figures in parentheses are the eliminations made in the consolidating process.
1/ Excludes $2,572 million of securities sold, and scheduled to be bought back,
under matched sale-purchase transactions.
2/ Includes $133 million securities loaned—fully secured by U.S. Government
securities pledged with Federal Reserve Banks.
3_/ Includes assets denominated in foreign currencies.
4/ Includes $45 million of certain deposits of domestic non-member banks and foreignowned banking institutions held with member banks and redeposited in full with
Federal Reserve Banks in connection with voluntary participation by non-member
institutions in the Federal Reserve System's program of credit restraint.
** Estimated (Dallas District).
MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 22. 1974
(Acceptances and securities held under repurchase agreements are classified as
maturing within 15 days in accordance with maximum maturity of the agreements.)
U.S. Government
Federal Agency
AcceptLoans
securities
obligations
ances
Weekly
Holdings
Holdings Weekly
changes
Changes
Within 15 days
% 923
176
6,627
+ 401
521
+ 25
16 days to 90 days
57
20,776
81
+2,265
107
+ 3
91 days to 1 year
21,317
-5,089
280
-+ 21
Over 1 year to 5 years
19,853
1,117
—
-+109
Over 5 years to 10 years
7,836
746
-—
+ 53
Over 10 years
1.922
--...3.71
+ 15
Total
2,980
257
78,331
-2,423
3,142
+226
ST/rTE&SEST OF CGNSITIC^ C~ EACH FEDERAL RESERVE, BANF. ON MAY 22, 1974
H.4.Ub)
Total
Boston
New
Yorl
i Phi.la' eel
l
]
Cleveland
Richmond
Atlanta
Chicago
St.
Louis
Minneapolis
Kansas
City
Dallas*
San
Francisco
(In millions of dollars)
A S S E T S
Gold certificate account
Special Drawing Rights certif. acct.
! 11,460
400
784
23
646
93
902
23
1,337
33
935
36
663
22
2,420
70
425
15
406
7
393
15
265
14
2,284
49
998
223
2,980
51
15
82
258
14
1,245
38
3
120
41
30
137
102
24
244
160
34
209
57
22
176
30
16
148
1.7
7
51
36
25
223
65
12
180
143
21
165
94
163
«.-
94
163
--
--
--
--
-._
__
---
_-
2,636
506
118
677
506
140
188
195
145
423
99
101
119
376
--
--
--
--
--
--
__
--
__
35,072
1,566
9,001
1 ,870
2,502
2,589
1,925
5,629
1,311
--_
—
—
—
—
-—
—
«.-
-—
-—
2 ,098
148
4 ,116
2,808
197
5,507
2,906
204
5,699
2,160
152
4,237
—
--
—
—
4 ,116
4 ,376
5,507
5,832
5,699
6,138
4,237
4,591
12,391
12,990
2,887
3,134
1,624
1,730
F.R. notes of other banks
Other cash
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
:
Cash items in process of collection
Bank premises .
Other assets —'
|
TOTAL ASSETS
1/
l_l
3/
*
--
—
—
—
! ,344
I,590
5,007
—
--
--..
-—
—
-•
1,472
104
2,887
828
58
1,624
1,785
125
,500
5,620
395
11,02^
39,365
2,767
77,204
1,127
78,331
84,710
1 1,758
!
124
j 3,448
3,648
10,103
710
19,814
1,127
20,941
23,626
9,556
235
385
51
53
1,484
10
161
369
16
38
445
27
40
1,005
14
54
1,006
15
35
1,495
16
86
/il 4
14
23
5,010
26,292
5 ,765
7,785
8,308
6,526
17,156
4,071
1
7U
108,293
Ii 3,448
-- ..
6,318
444
1.2,891
73K
—
--
—
Excludes $2,572 m i l l i o n o f securities sold, and scheduled to b e b o u g h t b a c k , u n d e r maLched sale-purchase t r a n s a c t i o n s .
Includes $ 1 3 3 m i l l i o n securities loaned — f u l l y secured b y U . S . G o v e r n m e n t s e c u r i t i e s pledged w i t h Federal R e s e r v e B a n k s .
Includes assets d e n o m i n a t e d in foreign c u r r e n c i e s .
Estimated (Dallas D i s t r i c t ) .
i />()<>
\{)U
_
—
'V>v>
-._
3,?>S3
3 ,500
3 ,799
11,022
11 ,563
417
35
16
694
17
23
800
12
29
1 ,04/
H
153
2,635
4,486
4 ,996
I '),?f»3
H.4.1(c)
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON
Total
Boston
New
York
Phila- Clevedelphia land
Richmond
Atlanta
May 22, 1974
Chicago
St.
Louis
Minneapolis
San
Kansas
City
Dallas Fran-
cisco
(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 ac<zeptances purchased for fore Ign
correspondents
65,652
3,222
16,261
4,145
5,224
5,819
3,455
10,844
2,654
1,235
26,864
4,332
265
761
32,222
7,175
1,165
915
348
10
6
1,279
379
47
6,278
1,297
1/ 79
530
8,184
970
329
928
211
12
13
1,164
299
56
1,567
330
22
2
1,921
387
76
1,091
306
14
20
1,431
861
76
1,962
174
18
18
2,1.72
690
62
4,128
515
39
131
4,813
1,011
166
848
138
9
4
999
310
38
793
140
6
2
941
386
25
106,214
4,927
25,744
5,664
7,608
8,187
6,379
16,834
4,001
873
844
362
35
34
14
227
215
106
42
42
17
77
74
26
48
47
26
66
62
19
135
132
55
108,293
5,010
26,292
5,765
7,785
8,308
6,526
17,156
716
29
2/183
35
63
40
52
113
2,468
7,823
1, 1 In
14h
10
1,5') 8
19/
14
10
1,779
592
•>,680
VK)
32
20
6,2<Y2
70/
202
')
i ,77/
5 83
40
.\ vr/
4,4 02
2 1
20
7
36
35
13
2,635
4,486
17
29
28
29
1 3
4,071
2/) 02
24
48
4,887 14,994
47
46
16
111
10
s8
4,996 15,263
39
92
FEDERAL RESERVE AGENTS1 ACCOUNTS
F. R. notes outstanding
Collateral for F. R. notes:
Gold certificate account
U. S. Government securities
Total collateral
1/
1
I
T/
3,347
17,127
4,232
5,371
6,040
3,730
11,092
2,796
1,276
2,647
2,629
8,203
100
--
400
350
630
—
700
50
--
--
5
3,280
17,250
3,900
5,200
5,500
3,900
10,600
2,785
1,320
2,700
2,680
8,400
3,380
17,250
4,300
5,550
6,130
3,900
11,300
2,835
1,320
2,700
2,685
8,4 00
After deducting $ 186 million participations of other Federal Reserve Banks.
After deducting $ 533 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 System's
program of credit restraint.
* Estimated (Dallas District).
@FedFRASER