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: *$Pii£: •#!-:- FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 24, 1973 The average of daily figures for total reserves of member banks declined $619 million in the latest statement week to $32,314 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined. Declines in float and other Federal Reserve assets were the major factors absorbing reserves in the latest statement week. Partially offsetting these reserve drains was a decline in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations provided $482 million reserves net, on a weekly average basis through outright purchases of Treasury bills and repurchase agreements. Member Dank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securities-Bought outright—System account Held under repurchase agreements Federal Agency obligations— Bought outright Held under repurchase agreements AcceptancesBought outright Held under repurchase agreements Loans-Total member bank borrowing Includes seasonal borrowing of: Other borrowing Float Other F.R. assets Total Reserve Bank credit Gold stock Special Drawing Rights certif. acct. Treasury currency outstanding Currency in circulation Treasury cash holdings Treasury deposits with F.R. Banks Foreign deposits with F.R. Banks Other deposits with F.R. Banks Other F.R. liabilities and capital Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held 2/ Required reserves Excess reserves 2/ NOTE: 1/ lj Averages of daily figures Week ended Change from week ended Wednesday, May 23, May 23, * May 16, May 24, 1973 1973 1973 1972 (In millions of dollars) 75,221 971 +181 +355 +4,897 + 971 |I/ 75,250 1,252 1,256 86 - 22 + + 277 86 1,256 182 90 51 - 2 - 30 + + 9 51 90 78 1,688 32 -128 + 9 +1,625 + 32 1,455 32 2,175 757 82,295 10,410 400 8, ^87 101,592 66,768 409 4,097 343 654 2,717 74,988 -208 -302 -156 -1,180 + 5 +6,741 + 19 -138 - 83 - 8 -296 + 29 + 17 + 95 -247 + 479 +7,220 +5,560 + 29 +1,832 + 194 + 97 + 446 +8,158 2,609 767 82,939 10,410 400 8,493 102,242 66,872 419 3,984 290 611 2,749 74,925 26,604 5.538 32,314 32,174 140 +109 -728 -619 -433 -186 - 938 + 434 5.53$ + 332 386 54 33,026 32,174 852 27,316 A net of $133 million of surplus reserves were eligible to be carried forward from the week ended May 16, into the week ending May 23. On May 23, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,488 million, a decrease of $39 million for the week. Includes $108 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Adjusted to include $172 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. Estimated (Dallas and San Francisco Districts). CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday May 24, May 23',** May 16, 1972 1973 1973 ASSETS Gold certificate account -__ 10,303 -Special Drawing Rights certif. accts. -400 Cash ( 958) 313 . 3 17 Loans 1,455 +1 ,138 - 990 -Acceptances--Bought outright 90 + 14 Held under repurchase agreements 22 73 + 78 Federal Agency obligations—Bought outright -1,256 + 277 Held under repurchase agreements ,- 25 182 + 182 U. S. Government securities: Bought outright--Bills 34,703 + 210 +4 ,367 Certificates Notes 36,936 + 488 Bonds 3,611 71 + Total bought outright JL/ 75,250 + 210 44,926 Held under repurchase agreements 1,252 +1,252 + 42 Total U.S. Government securities 76,502 + 252 +6,178 Total loans and securities 79,563 - 735 +7,867 Cash items in process of collection (1,835) 8,298 -2,232 -2,444 -Bank premises 202 + 39 Other assets 2/ + 28 565 78 TOTAL ASSETS -2,942 +5,367 (2,793) 99,644 H.4.1(a) t i A B IL I T I E 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 958) 59,005 27,236 3,984 290 611 32,121 835) 5,769 - 151 - 395 - 941 43 33 -1,412 -1,420 853 41 793) 97,74"3 -3,024 £ A Z I Z A L A £ £ 0 U N T S_ Capital paid in Surplus Other capital accounts 815 793 288 .. -- Contingent liability on acceptances purchased for foreign correspondents 377 f 82 +5,097 + 6 +1,582 + 142 — +1,730 -1,908 + 298 +5,217 + + + 46 51 53 + 108 * Figures in parentheses are the eliminations made in the consolidating process. -* Estimated (Dallas and San Francisco Districts). JL/ Includes $108 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, MAY 23. 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 6,796 Within 15 days 1,427 109 56 198 + 25 17,558 59 + 826 16 days to 90 days 28 28 -- 518 14,444 91 days to 1 year 229 --26,832 Over 1 year to 5 years 545 --9,243 Over 5 years to 10 years 247 — Over 10 years — 1,629 — 191 Total 1,455 168 76,502 + 252 1,438 + 25 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 23, 1973 Total Boston Philadelphia New York 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. F.R. notes of other banks Other cash 10,303 400 704 23 1,996 93 519 23 873 33 1,106 36 165 22 1,771 70 269 15 218 7 332 15 351 14 1,999 49 958 313 105 16 234 23 25 5 44 36 79 37 171 42 50 37 26 23 13 6 33 41 49 12 129 35 1,455 97 244 169 218 82 180 177 85 25 109 47 22 90 78 --- 90 78 -. -- — -- --- --- --- --- --- --- --- --- 1,256 182 59 -- 323 182 69 — 93 -- 88 -- 69 -- 202 -- 49 -- 27 -- 51 -- 57 -- 169 _- 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 outiight 1/ Held under repurchase agreements lotal U.S. Government becurities Total loans and securities 34,703 l,o27 8,925 1,899 2,565 2,431 1,907 5,588 1,34 3 764 1,411 1 ,572 4,671 -36,936 3.611 75,250 1.252 76.502 79,563 1,732 169 3,528 -3.528 3,684 -9,499 929 19,353 1.252 20r605 21,522 -2,022 198 4,119 -4.119 4,357 -« 2,730 267 5,562 -5.562 5,873 -2,587 -2,029 -5,947 -1,430 5,271 -5P271 5,441 12,116 4,134 -— 4.134 _ l 2 , U y 4,383 12,495 2,913 -2,913 3,047 -813 79 1,656 -1.656 1,708 -1,502 147 3,060 -3.060 3,220 -1 ,673 164 3 ,409 -r409 3 ,513 -4,972 486 10,1?9 -10.129 10,320 Gash items in process of collection Bank premises Other assets 2/ 10,133 202 565 359 33 1,335 656 1,082 14 39 1,190 15 33 1,387 17 83 433 14 21 390 33 15 684 17 21 724 12 25 1,401 8 80 102,437 4,949 7,834 6,021 15,910 3,848 2,390 4,363 4 ,700 14,021 TOTAL ASSETS n. 149 35 492 27 39 25,359 5,625 7,417 "7 353 , 19? 531... 140L_ 1/ Includes $108 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. * Estimated (Dallas and San Francisco Districts). ~T H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 23, 1973 Total New York Boston 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 accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents 59,963 3,092 14,952 3,727 4,737 5,302 3,058 9,987 2,358 1,094 2,369 2,281 7,006 27,236 3,984 290 611 32,121 7,604 1,112 262 11 1,079 309 13 17 1^.418 345 1,717 284 25 1,385 355 6,802 1,192 1/ 91 533 8,618 1,043 2,026 428 1,325 295 14 14 1,648 722 1,784 156 19 8 1,967 815 3,992 395 42 8 4,437 1,060 820 243 9 1 1,073 322 649 200 6 3 858 374 1,125 177 11 3 1.316 568 1,490 198 15 4 1,707 576 5,341 273 34 20 5.668 996 853 100,541 38 4,870 257 24,870 42 5,532 59 7,250 55 7,727 49 5,889 126 15,610 30 3,783 21 2,347 32 4,285 36 4,600 108 13,778 815 793 288 33 34 12 208 207 74 39 39 15 73 72 22 45 42 20 59 55 18 128 124 48 28 27 10 19 18 6 34 33 11 45 43 12 104 99 40 102.437 4.949 25.359 5.625 7.417 7.834 6.021 15.910 3.848 2.390 4.363 4,700 14,021 377 16 19 34 20 26 59 13 16 20 47 2,495 2,414 7,388 11 98 i_ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 62,577 3,249 2,075 180 62.035 64,110 3.110 3,290 15,687 15.850 15,850 3,805 4,898 5,478 250 350 435 3.600 3,850 4.700 5,050 5.115 5,550 1/ After deducting $199 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. 3/ After deducting $279 million participations of other Federal Reserve Banks. * (Estimated (Dallas and San Francosco Districts). 3,307 3.500 3,500 10,225 2,505 700 155 9.900 10,600 2.430 2,585 1,126 5 1,150 1,150 2.600 2,600 2,480 2,485 7.600 7,600
@FedFRASER