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FEDERAL RESERVE •f^URt^V Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release November 16, 1972 H.4.1 The average of daily figures for total reserves of member banks declined $1,534 million in the latest statement week to $32,149 million. Required reserves declined, reflecting the change in Regulation D effective November 9. Member bank borrowings at Federal Reserve Banks also declined while excess reserves increased. Major factors supplying reserves in the latest statement week were declines in Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital. More than offsetting these reserve gains were a contraseasonal decline in float, associated with the implementation of Regulation J on November 9, and a seasonal increase in currency in circulation. System Open Market operations absorbed $599 million reserves net, on a weekly average basis. Excess reserves averaged $579 million and exceeded member bank borrowings by $85 million. In the previous week member bank borrowings exceeded excess reserves by $852 million. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securitiesBought outright —Systern account Held under repurchase agreements Federal Agency obligationsBought outright Held under repurchase agreements AcceptancesBought outright Held under repurchase agreements LoansMember 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 3>/ Required reserves Excess reserves 3/ NOTE: Averages of daily icigures Week ended Change from week ended Wednesday, Nov. 15, Nov. 8, Nov. 1.7, Nov. 15, 1972 1972 1972 1971 (In millions of dollars) 69,834 322 - 260 276 +2 ,599 53 - 1/2/ 68,116 1,011 5 _27 + 832 34 - 1,011 67 43 4 32 + + 494 -- -- 9 11 62 -- 464 207 133 2,411 1,353 75,542 10,410 400 8,273 94,625 64,471 383 1,181 189 600 2,279 69,103 -1,280 + 4 -2,338 -_+ 5 -2,332 + 670 + 2 - 536 + 2 26 - 204 92 _ 85 7 + 292 +3 ,007 + 278 -« + 700 +3 ,985 +4 ,546 82 - 401 + 66 - 125 + 35 +4 ,039 3,418 1,058 73,798 10,410 25,522 6,177 32,149 31,570 579 -2,240 + 256 -1,534 -2,007 + 473 _ + + + + 55 582 977 586 391 400 8,275 92,883 64,783 382 1,523 214 620 2,291 69,813 23,070 6,177 29,697 31,570 -1,873 A net of $51 million (est.) of surplus reserves were eligible to be carried forward from the week ended November 8, into the week ending November 15. On November 15, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $31,825 million, an increase of $162 million for the week. 1/ Excludes $1,905 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $54 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3i/ Adjusted to include $450 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. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Nov. 8, Nov. 17, Nov. 15, 1972 1971 1972 ASSETS -10,303 + 428 Gold certificate account it __ -400 Special Drawing Rights certif. accts. + 64 3 856) 327 Cash -1,337 259 133 Loans 4 + 11 62 Acceptances—Bought outright -82 - Ill Held under repurchase agreements — + 832 1,011 Federal Agency obligations — Bought outright -52 - 104 Held under repurchase agreements U. S. Government securities: -1,927 -1,359 27,837 Bought outright--Bills Certificates +1,649 36,681 51 Notes — + 400 3,598 Bonds 41/ 2/ 68,116 -1,978 690 Total bought outright 832 -1,243 Held under repurchase agreements 142 -3,221 68,116 Total U.S. Government securities 69,322 -4,725 + 256 Total loans and securities -2,326 10,842 (2,204) -1,095 Cash items in process of collection + 20 168 + 1 Bank premises 347 + 237 890 Other assets J3/ (3,060) •63169 -1,321 92,252 TOTAL ASSETS H.4.1(a) LIABILITIES 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 ( 856) (2,204) (3,060) 57,110 22,990 1,523 214 620 25,347 7,504 581 90,542 + 423 -5,916 + 479 42 48 -5,527 - 971 24 -6,099 +4,112 -3,406 9 + 69 85 -3,431 -2,067 16 -1,402 C A P I T A L A££0UNT!5 Capital paid in Surplus Other capital accounts 783 742 185 — 71 47 40 6 Contingent liability on acceptances purchased for foreign correspondents 201 17 45 1/ 1/ 3/ 1 + + Figures in parentheses are the eliminations made in the consolidating process Excludes $1,905 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $54 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 15, 1972 (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 Loans -ances securities Holdings Weekly Holdings Weekly changes Changes -2,751 -1,420 13 Within 15 days 127 •52 15,036 14 -1,817 16 days to 90 days 6 49 + 426 18,190 128 91 days to 1 year - 411 24,484 540 Over 1 year to 5 years 6,109 + 1 181 Over 5 years to 10 years 1,546 — 148 Over 10 years -62 Total 133 5,116 -3,221 1,011 -52 H.4.Hb) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Boston Total New York Philadelphia Cleveland Richmond Atlanta NOVEMBER 15, 1972 Chicago St. Louis Minneapolis Kansas City Da lias San Francisco (In millions of dollars) A S S E T S 10,303 400 546 23 3,235 93 338 23 579 33 856 36 587 22 1,538 70 340 15 146 7 190 15 199 14 1,749 49 F.R. notes of other banks Other cash 856 327 160 16 170 18 19 12 30 38 76 39 150 40 42 41 15 17 17 47 42 43 16 87 41 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/ 2/ Held under repurchase agreements Total U.S. Government securities Total loans and securities 133 12 44 19 10 _-- --- -- __ ._ -- ... -- -. Gold certificate account Special Drawing Rights certif. acct. Cash items in proces , of collection Bank premises Other assets 3/ TOTAL ASSETS 1/ 2/ 3/ o 35 62 -- -- 62 -- -- -- 1,011 -- 46 -- 254 -- 55 -- 79 -- 7! -- 53 -- 161 -- 39 -- 20 -- 41 -- 45 -- 143 -. 27,837 1,265 6,995 1,509 2,163 2,077 1,464 4,444 1,063 544 1,135 1 ,246 3,932 36,681 1,666 163 3,598 68,116 3,094 --68,116 3,094 69,322 3,144 9,217 904 17,116 _» 17,116 17,467 1,988 195 3,692 -3,692 3,749 2,851 280 5,294 -5,294 5,376 2,737 269 5,083 -5,083 5,159 1,929 189 3,582 -3,582 3,647 5,857 575 10,876 -10,876 11,081 1 ,642 1,496 147 _ - 161 2,778 ,049 .-2,778 3",049 3 ,104 2,838 5,182 508 9,622 -9,622 9,765 i 13,046 168 890 536 2 64 2,714 8 262 849 4 50 783 28 54 1,216 13 49 1,264 15 73 1,809 17 104 578 15 25 486 29 20 750 17 29 759 12 33 1,302 8 127 j 95,312} 4,491 23,967 5,044 6,921 7,444 5,798 14,702 3,644 2 ,065 3,928 4 ,180 13,128 ! 1,400 716 137 _ . 70 2", 600 ,330 --2,600 ,330 2,639 1 ,353 r Excludes $1,905 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $54 mill ion securities loane d--fully secured by U.S. Government securities pledged with Federal Reserve Banks, Includes assets denominated in forei;gn currencies. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 15, 1972 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 ace:eptances purchased for foreign c o r r espondents 57,966 3,010 14,394 3,512 4,626 5,131 2,972 9,800 2,256 997 2,252 2,211 6,805 22,990 1,523 214 620 25,347 9,708 899 32 9 1 941 440 6,273 585 1/ 70 523 7,451 1,537 853 81 10 6 950 466 1,273 85 18 -. 1,376 718 1,038 126 10 15 1,189 989 1,552 135 13 34 1,734 943 2,861 123 29 5 3,018 1,524 742 112 7 1 862 446 535 33 4 2 574 440 870 67 8 2 947 634 1,228 12 11 6 1,257 594 4,866 132 25 25 5,048 977 581 93,602 27 4,418 145 23,527 30 4,958 48 6,768\ Q1 ?? 91 ?6 7Q 7,351 5,682 14,433 3,586 2,026 3,856 4,088 12,909 783 742 185 33 34 6 201 193 46 40 38 8 41 38 14 55 50 11 123 111 35 26 25 7 18 17 4 33 32 7 43 41 8 99 95 25 95,312 4,491 23,967 5,044 6,921 7,444 5,798 14,702, 3,644 2,065 3.928 4,180 13,123 201 9 52 10 U\ 10 14 y 42 71 6£1 U i. -n 2flL l 5 5_ Z_ 2_ LL 26 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 15,012 3,250 15.250 15,250 3,589 4,782 5,274 300 350 375 3.500 3,800 4,550 4,900 4,955 5,330 1/ After deducting $ 144 million participations of other Federal Reserve Banks, 2/ After deducting $ 149 million participations of other Federal Reserve Banks. 3,182 3.250 3,250 10,042 2,347 700 155 9r500 10,200 2.280 2,435 1,025 2,337 2,328 7,205 5 lr050 1,050 2r400 2,400 2,380 2,385 7r400 7,400 „
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