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vi^'e/; FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 3, 1973 The average of daily figures for total reserves of member banks increased slightly in the latest statement week $32,474 million. Required reserves and member bank borrowings at Federal Reserve Banks increased while excess reserves declined. A decline in float and an increase in Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. A decline in currency in circulation partially offset this reserve drain. In addition, System Open Market Operations provided $467 million reserves net, on a weekly average basis through outright purchases of Treasury bills and repurchase agreement. 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 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/ Averages of daily figures Week ended Change from week ended Wednesday, May 2, * Apri1 25, May 2, * May 3, 1972 1973 1973 1973 (IrI millions of dollars) 74,564 294 + 929 +4,206 + 294 .1/ 74,634 ! 501 6 72 + + 287 25 ! 1 29 + -_ 26 - 356 1,266 25 - 83 26 + 1,874 16 2,140 1,119 81,391 10,410 400 8,461 100,662 66,132 419 4,084 313 659 2,703 74,309 26,353 5.949 32,474 32,273 201 - ! 1,256 73 87 57 + 228 7 + +1,757 + 16 818 19 - 723 20 47 --+ 13 35 - 164 3 + + 443 + 55 4 + 79 + 410 - 856 + 25 +5,764 + 822 — + 507 +7,093 +5,464 + 16 +1,994 + 122 + 56 + 347 +7,998 3,082 1,169 81,677 10,410 400 8,462 100,949 66,358 428 4,414 342 659 2,754 74,955 _ -• + - 446 + JtM. + 22 + 209 187 906 368 366 431 65 25,994 ^242. 32,115 32,273 158 NOTE: A net of $202 million of surplus reserves were eligible to be carried forward from the week ended April 25, into the week ending May 2. On May 2, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,384 million, a decrease of $466 million for the week. JL/ Includes $78 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 27 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. The adjustment amounted to $450 million from November 9, through December 27, $279 million from December 28, through March 28, 1973. * Estimated (Philadelphia District). H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since April 25, May 3, May*2, 1973 1972 973 ASSETS + 828 Gold certificate account 10,303 Special Drawing Rights certif. accts. — * -400 Can h 16 8 312 (1,028) LOc: IS + 350 - 703 818 + 2 5 Acceptances--Bought outright + 87 + 57 57 + 26 Held under repurchase agreements + 277 16 1,256 Federal Agency obligations—Bought outright + 73 22 73 Held under repurchase agreements U. S. Government securities: +1,192 +3,593 34,087 Bought outright--Bills Certificates -+ 528 36,976 . Notes -+ 31 3,571 Bonds +4,152 +1 ,192 74,634 Total bought outright 1/ + 501 501 83 Held under repurchase agreements +4,653 +1 ,109 75,135 Total U.S. Government securities +5,412 + 399 77,426 Total loans and securities -2,631 + 368 (2,020) 9,457 Cash items in process of collection -+ 37 199 Bank premises 2 970 Other assets 2j + 35 +3,628 + 794 (3,048) 99,067 TOTAL ASSETS • t l A B I L I T I i 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 C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts (1,028) (2,020) (3,048) + 58,529 25,914 4,414 342 659 31,329 6,455 772 97,085 6 291 + 718 + 102 23 + 506 + 160 + 43 + 715 814 793 375 1 -78 - 1- +4,941 -1,359 +1,727 + 206 + 99 + 673 -2,353 + 206 +3,467 + + + 51 51 59 Contingent liability on acceptances purchased for foreign correspondents 344 - 7 + 8 0 Figures in parentheses are the eliminations made in the consolidating process. Includes $78 million securities loaned—fully secured by U.S. Government 1/ securities pledged with Federal Reserve Banks. y Includes assets denominated in foreign currencies. Estimated (Philadelphia District). k-k MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 2. 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 securities -ances Loans Holdings Weekly Holdings Weekly Changes changes Within 15 days 800 10,485 +5,201 73 71 -38 16 days to 90 days 18 -4,262 17,244 42 73 91 days to 1 year 13,531 + 170 231 Over 1 year to 5 years -28,148 545 Over 5 years to 10 years -4,138 247 Over 10 years — 1,589 191 Total 818 144 75,135 +1,109 1,329 -38 H.4.Ub) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 2, 1973 Total Philadelphia ! Boston 1 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 10,303 400 602 23 2,848 93 403 23 663 33 1,001 36 338 22 1,886 70 281 15 228 7 605 15 285 14 1,163 49 1,028 312 124 16 214 23 30 6 56 36 86 35 210 40 59 37 24 23 17 5 29 42 49 11 130 38 818 33 214 45 43 36 132 107 46 6 70 80 6 87 57 --- 87 57 — -- --- — -- -.- --_ -— -— --- --- --- 1,256 73 59 -- 323 73 69 -- 93 -- 88 -- 69 -- 202 -- 49 -- 27 -- 51 -- 57 -- 169 -- 1,866 2,519 2,388 1,873 5,488 1,320 750 1,386 1,545 4,588 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/ He 1d und er repurchase agr eement s Total U.S. Government secur itie s Total loans and securities 34,087 1,598 8,766 -36,976 3,571 74,634 501 75,135 77,426 -1,734 167 3,499 -3,499 3,591 9,509 919 19,194 501 1.9,695 20,449 -2,024 195 4,085 -4,085 4,199 -2,733 264 5,516 -5,516 5,652 -2,590 250 5,228 -5,228 5,352 -2,032 196 4,101 -4,101 4,302 -5,954 575 12,017 -12,017 12,326 -1,431 138 2,889 ... 2,889 2,984 -814 79 1,643 -1,643 1,676 -1,503 145 3,034 -3,034 3,155 -1,675 162 3,382 -3,382 3,519 4,977 481 10,046 -10,046 10,221 Cash items in process of collection Bank premises Other assets 2/ 11,477 199 970 403 32 45 1,722 7 250 746 5 51 595 27 70 1,162 14 67 1,206 15 53 1,773 16 144 505 14 35 447 32 23 788 17 40 636 12 43 1,49 4 8 149 102,115 4,836 25,606 5,463 7,132 7,753 6,186 16,311 3,881 2,435 4,691 4,569 13,25 2 TOTAL ASSETS „- 1_/ Includes $78 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. * Estimated (Philadelphia District). H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 2, 1973 New Total Boston York Phila* Clevedelphia land Richmond St. Atlanta Chicago Louis Minneapolis Kansas City San Dallas Francisco (In millions of dollars0 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 availabilitv 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 forei•gn _ c_o?res_p_p.ndents 59,557 3,073 14,836 3,687 4,697 5,294 3,041 9,924 2,343 1,083 2,350 2,265 6,964 25,914 4,414 919 320 14 6,951 1,159 1/105 864 309 16 10 1,420 1,218 1,809 4,300 4,607 449 14 3 349 17 4 295 40 21 1,199 1,683 1,457 2,101 1,694 4,963 523 835 866 4,660 1,293 1,579 441 654 206 7 2 869 418 1,324 286 50 24 735 340 11 3 1,113 262 22 8 651 471 967 342 659 31,329 8,475 — 1,253. 392 567 8,782 1,265 233 29 1 206 17 16 1,089 353 772 36 208 41 56 53 44 120 28 20 30 34 102 100,133 4,754 25,091 5,368 6,959 7,639 6,052 15,997 3,813 2,390 4,610 4,464 12,996 814 793 375 33 34 15 208 207 100 39 39 17 73 72 28 44 42 28 59 55 20 128 124 62 28 27 13 19 18 8 34 33 14 45 43 17 104 99 53 102,115 4,836 25,606 5,463 7,132 7,753 6,186 16,311 3,881 2,435 4,691 4,569 13,252 344 14 2/ 90 17 31 18 24 54 12 8 14 19 43 1,110 2,457 2,423 7,335 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 62,273 3,247 2,300 280 61,665 63,965 3,010 3,290 15,608 15,850 15,850 3,776 4,888 5,473 400 350 410 3,500 3,900 4,700 5,050 5,115 5,525 1/ After deducting $ 237 million participations of other Federal Reserve Banks. 2/ * After deducting $ 254 million participations of other Federal Reserve Banks. Estimated (Philadelphia District). 3,310 3,500 3,500 10,177 2,469 700 155 9,900 10,600 2,380 2,535 5 1,130 1,130 2,500 2,500 2,480 2,485 7,600 7,600
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