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FEDERAL RESERVE firsts?: Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release November 23, 1973 The average of daily figures for total reserves of member banks increased $232 million in the latest statement week to $34,960 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. Major factors absorbing reserves in the latest statement week were a decline in other Federal Reserve assets and increases in currency in circulation, Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital. Reserves were provided by an increase in float. In addition, System Open Market Operations provided $2,561 million reserves net, on a weekly average basis, through outright purchases of Treasury bills and 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 F.R. Banks Foreign deposits with F.R. Banks Other deposits with F.R. Banks 3/ Other F.R. liabilities and capiFal Averages of daily figures Week ended Change from wee k ended Wednesday, Nov. 21, Nov. 21, * Nov. 14, Ncv'. 22, 1972 1973 * 1973 1973 (Ir1 millions of dc liars) 76,612 1,152 +1 ,484 + 893 + 7,006 942 + 1,753 + 14 + 147 + + 718 146 1,789 - - 175 41 35 1,569 85 2,739 821 84,898 11,567 400 8,650 105,515 70,180 333 1,946 557 723 2,916 76,654 1/76,652 2,098 323 + 2 25 + 21 2 41 77 + + 48 5 + 1,150 85 + 1,387 -*- 213 - 557 +2 ,265 — — + 21 +2 ,286 + 346 5 + 826 - 23 27 + + 178 +1 ,348 64 - 137 + 9,743 + 1,157 — + 368 3,450 +11,269 + 5,374 41 + 750 359 + 128 + 584 + + 7,154 86 823 86,640 11,567 400 8,656 107,263 70,511 333 1,404 759 671 3,008 76,686 Member bank reserves: With Federal Reserve Banks + 937 28,861 30,577 +• 4,114 Currency and coin 6,015 673 + - 705 6,015 Total reserves held 2/ 34,960 + 232 + 4,421 36,676 Required reserves + 34,718 11 34,718 + 4,368 Excess reserves 2/ 1,958 53 + 242 + 221 NOTE: A net of $58 million of surplus reserves were eligible to be carried forward from the week ended November 14, into the week ending November 21* On November 21, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and internaticnal accounts were $26,501 million, a decrease of $317 million for the week. 1/- Includes $207 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Adjusted to include $84 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. 37 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 (New York, Cleveland, Chicago and San Francisco Districts). H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS of doll ars) Wednesday Change since Nov. 21,** Nov. 14, Nov. 22, 1973 1973 1972 ASSETS .*•• Gold certificate account 11,460 + 1,157 mm Special Drawing Rights certif. accts. * 400 -Cash (959) 309 + 1 19 Loans 1,387 -2,604 + 1,135 Acceptances—Bought outright 41 + 2 21 Held under repurchase agreements '+ 10 77 + 23 Federal Agency obligations—Bought outright + 50 + 612 1,789 Held under repurchase agreements + 124 + 247 323 U.S. Government securities: Bought outright—Bills + 486 + -6,023 35,351 Certificates Other Notes 38,152 + 1,471 + 778 Bonds 449 - 279 3,149 Total bought outright + 7,045 + 985 1/ 76,652 Held under repurchase agreements + 1.874 + 286 2,098 Total U.S. Government securities + 8,919 7?.750 +LOI1 Total loans and securities +10,915 82,367 -1,147 Cash items in process of collection 145 (1,752) 9,389 + 266 Bank premises + 51 219 + 1 Other assets 2/ 206 604 - 553 TOTAL ASSETS (2,711) 104,748 -1,432 +11,753 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 £ A LI1 £L A C C O U N T S Capital paid in Surplus Other capital accounts (959) (1,752) (2,711) 62,390 30,497 1,404 759 671 33,331 6,019 1,059 102,799 836 793 320 + 326 -1,373 - 126 + 207 26 -1,318 - 634 + 102 -1,530 +4,966 + 5,116 + 415 + 554 + 106 + 6,191 49 + 473 +11,581 + 4 + — 94 + + + 53 51 68 Contingent liability on acceptances purchased for foreign correspondents 604 + 4 + 399 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $207 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 3/ 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 System1s program of credit restraint. * Estimated (New York, Cleveland,Chicago and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES. NOVEMBER 21, 1 < m (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 Acceptsecurities Loans Holdings Weekly ances Holdings Weekly Changes 1 changes Within 15 days i 333 7,162 87 - 924 +124 16 days to 90 days 54 19,070 31 +1,265 91 days to 1 year 20,368 - 1 +1,988 Over 1 year to 5 years 22,953 + 31 + 805 Over 5 years to 10 years + 20 7,435 -1,923 Over 10 years 1,762 + 60 Total 1,387 lTT 78,750 +174 +1,271 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 21, 1973 H.4.Ub) Total Boston New York* Philadelphia Cleve1 and * Richmond JU Atlanta 0.n Chicago" St. Louis Minneapolis Kansas City Daiias San* Francisco 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 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 2/ TOTAL ASSETS 11,460 400 748 23 14 93 682 23 1,270 1,431 36 712 22 2,260 70 517 15 264 7 470 15 488 14 2,604 33 959 309 113 18 206 22 27 4 37 35 68 32 139 42 55 36 25 21 15 10 43 35 78 17 153 37 1,387 52 448 209 15 128 97 129 36 33 160 32 48 41 77 1,789 _. -79 41 77 468 .. — 93 --135 _-126 -• .. 97 --286 -„ .62 ~. __ 34 ..... ... 68 -. -. 77 _.. 264 323 _- 323 __ ._ .. -- „. .. ... «.— «,. .. 35,351 1,569 9,249 1,841 2,656 5,654 1,225 668 — 38,152 3,149 i 76,652 2,098 78,750 82,367 — 1,693 140 3,402 — 3,402 3,533 — 9,983 824 20,056 2,098 22,154 23,511 — 1,987 164 3,992 — 3,992 4,294 237 222 170 5,759 5,392 4,144 5,759 5,909 5,392 5,646 4,338 -6,102 504 12,260 — 12,260 12,675 -1,322 109 2,656 — 2,656 2,754 11,141 219 604 416 42 26 1,826 10 189 508 10 28 501 27 41 1,154 14 44 1,074 15 38 1,866 16 83 548 14 19 [107,459 4,919 25,871 5,576 7,853 8,425 6,380 17,061 3,913 -2,866 -- 2,486 — 2,684 — 1,911 — 2,063 — M44 1/ Includes $207 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks 0 2/ Includes assets denominated in foreign currencies. * Estimated (New York, Cleveland, Chicago, and San Francisco Districts). 49 1,350 1 ,527 5,215 .. .. 1 ,647 136 5,628 ~T,310 ... 11,307 2,927 3,155 ~ ,310 11,307 11,619 645 34 13 765 17 22 686 12 23 1,152 2,502 4,522 4 ,737 15,700 -720 59 1,447 -1,447~~ 1,514 1,457 120 2,927 .. 3 ,419 .. 464 8 78 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 21, 1973 Total Boston Phila- CleveNew* York delphia l a n d * 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/ Tp.tal___dep.9_s its 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 correspondents 63,349 3,165 15,656 3,985 5,089 5,643 3,333 10,666 2,505 1,129 2,451 2,395 7,332 30,497 1,404 1,089 7,255 942 92 36 19 1,948 1,474 1,955 4,372 7,021 108 51 11 77 115 21 746 47 17 1,637 215 38 24 807 93 25 4 929 381 1,251 118 66 1 54 31 24 39 1 811 6 1,342 6 1,706 7,318 497 617 493 641 40 160 759 671 33,331 7,771 1,059 105,510 836 793 320 131 31 5 1,256 375 261 1/219 551 8,286 1,087 1,089 2,133 1,751 2,125 357 392 855 721 4,585 1,355 42 336 47 63 65 150 4,838 25,365 5,478 7,685 8,312 6,244 16,756 3,847 2,458 4,442 214 207 85 42 39 17 74 72 22 47 42 24 61 55 20 130 124 51 28 27 11 20 18 6 35 33 12 34 34 13 71 32 21 32 107,459 4,919 25,871 5,576 7,853 8,425 6.380 17.061 3.913 2.502 4.522 604 25 2/158 30 55 31 42 95 21 14 25 1,160 2,582 184 91 22 4,634 15,451 46 43 14 105 99 45 4,737 15.7QQ .3.1 Z5_ FEDERAL RESERVE AGENTS 1 ACCOUNTS F. R* notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 1/ 2/ 3/ 3,328 175 3,185 3,360 16,373 — 16,650 16,650 4,060 5,266 5,795 350 350 720 3,800 4,150 5,000 5,350 5,145 5,865 3,559 — 3,700 3,700 10,856 700 10.400 11,100 2,616 155 2.520 2,675 — 1,200 1,200 — 2.700 2,700 2,570 7,790 5 2 r 63Q 2,635 8.000 8,000 Afte** deducting $540 million participations of other Federal Reserve Banks. After deducting $446 million participations of other Federal Reserve Banks. Includes $45 million of certain deposits of domestic non-member banks and foreign-owned banking institutions held with member banks and
@FedFRASER