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FEDERAL RESERVE *'f^R^f>* Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release November 24, 1972 The average of daily figures for total reserves of member banks declined $1,655 million in the latest statement week to $30,494 million. Required reserves declined, reflecting the implementation of the second stage of Regulation D effective November 16. Excess reserves and member bank borrowings at Federal Reserve Banks both declined. A seasonal, increase in float was the major factor supplying reserves in the latest statement week. An increase in currency in circulation and a decline in other Federal Reserve assets more than offset this reserve gain. In addition, System Open Market operations absorbed $307 million reserves net, on a weekly average basis. Member bank borrowings averaged $421 million and exceeded excess reserves by $279 million. In the previous week excess reserves exceeded member bank borrowings by $85 million. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securitiesBought outright — System account Held under repurchase agreements Federal Agency obligationsBought outright Held under repurchase agreements AcceptancesBought outright Held under repurchase agreements Loans — Member 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 2,/ Required reserves Excess reserves 2_/ NOTE: Averages of daily iEigur es Week ended Change from week. ended Wednesday, No v. 15, Nov. 22, No v. 24, Nov. 22, 1972 * 1972 1972 * 1971 (Irl mi!.lions of dollars) 69,606 210 - 228 112 1,035 29 + + 24 24 + - 856 36 1,177 76 62 33 . 5 10 + 10 23 62 54 73 117 254 340 395 437 — — 9 428 335 9 15 9 5 52 396 - 463 + 162 +2 ,049 + 278 -+ 706 +3 ,033 +4,699 90 - 731 + 75 91 + 66 +3 ,926 3,415 979 75,848 10,410 400 8,293 94,951 65,118 377 989 205 564 2,361 69,614 _ 25,336 5,346 31,132 30,352 780 421 2,751 958 75,105 10,410 400 8,282 94,197 64,806 374 1,196 198 595 2,331 69,499 + + + + 24,698 5,346 30,494 30,352 142 - 824 - 831 -1 ,655 -1 ,218 - 437 + - + - + +1 ,918 - 258 - + - 893 221 222 220 2 1/ 69,607 224 A net of $302 million of surplus reserves were eligible to be carried forward from the week ended November 15, into the week ending November 22. On November 22, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $32,052 million, an increase of $227 million for the week. jL/ Includes $77 million securities loaned--fuily secured by U.S. Government securities pledged with Federal Reserve Banks. 2_/ 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. Estimated (St. Louis District). H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wedilesday Nov . 22, Nov. 15, Nov. 24, 1972 1971 1972 ASSETS _— 10,303 + 428 Gold certificate account * --Special Drawing Rights certif. accts. 400 Cash 328 + + 62 1 ( 854) Loans 254 + 121 -2,143 -Acceptances—Bought outright 62 + 6 Held under repurchase agreements 54 54 92 + Federal Agency obligations—Bought outright 1,177 + 998 + 166 Held under repurchase agreements 76 - 120 + 76 U. S. Government securities: Bought outright—Bills 29,328 +1,491 158 Certificates Notes 36,681 +1,420 Bonds 3,598 -+ 365 Total bought outright +1,627 69,607 +1,491 1/ Held under repurchase agreements -1,283 224 + 224 Total U.S. Government securities 69,831 +1,715 + 344 Total loans and securities 71,454 +2,132 -1,007 Cash items in process of collection (2,084) 9,373 -1,469 -1,808 Bank premises -168 + 20 Other assets 2/ 811 79 + 134 TOTAL ASSETS (2,938) 92,837 585 -2,171 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 + 314 +2 ,266 - 534 9 56 +1 ,667 -1 ,466 + 5 + 520 C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts 782 742 251 -- Contingent liability on acceptances purchased for foreign correspondents 205 i-i 854) 57,424 25,256 989 205 564 27,014 6,038 (2,084) 586 (2,938) 91,062 ( +4,118 -3,623 - 446 + 79 - 134 -4,124 -2,223 26 -2,255 + + 66 + 46 40 2 36 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Includes $77 million securities loaned—fully secured by U„ S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. r-l MATURITY DISTRIBUTION OF LOANS AND SECURITIES, November 22, 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 250 66 4,558 +1,807 76 + 76 Within 15 days -4 50 16,812 +1,776 14 16 days to 90 days — -16,323 -1,867 141 + 13 91 days to 1 year ---24,484 622 + 82 Over 1 year to 5 years --6,108 Over 5 years to 10 years 238 + 57 — 1,546 -162 Over 10 years + 14 Total 254 116 69,831 +1,715 1,253 +242 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON H.4.Ub) Total Bos ton New York Ph ilade lphia Cleveland Richmond Atlanta On NOVEMBER 22, 1972 Chicago St. Louis Kansas City Minneapolis Da lias San Francisco millions of dollars) A S S E T S 611 23 2,221 585 33 70 250 15 70 7 340 15 332 14 2,422 36 499 22 1,889 93 65 23 1,049 400 F.R. notes of other banks Other cash 854 328 153 16 153 18 31 12 32 39 79 38 150 41 44 41 19 20 18 7 45 41 43 15 87 40 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 \J Held under repurchase agreements Total U.S. Government securities Total loans and securities 254 25 61 14 13 71 12 25 13 11 62 54 --- 62 54 -- --- -_ __ -_- --- -_- -_ -- -__ 1,177 53 -- 296 76 64 -- 88 __ 62 _- 188 -- 2J 76 48 -- 53 _. 166 -- 29,328 1 ,333 7,370 1 590 2,188 1,542 4,682 573 1 ,195 1 ,313 4,143 -- -1 666 9,217 __ 716 70 -1 ,496 147 2",838 -- -1 ,642 161 5,182 ~~T,116 9,833 Gold certificate account Special Drawing Rights certif. acct. Cash items in process of collection Bank premises Other assets 27 TOTAL ASSETS 1/ 2/ * 10,303 36,681 __ -1 988 _ _ 195 -_ 773 -773 3 839 9 2,279 _-. -_ _2,737 5,194 3,660 11,114 ,657 ~~T,359 -- -- -- -- -- -- 5,410 5,508 5,194 5,296 3,660 3,735 11,114 11,373 2 ,657 — y - ,702 l,359 i,394 1,129 1,561 17 423 15 113 15,108 1,929 3,59§ •1&3 904 T,162 17,491 -- 224 69,831 , 71,454 ,162 3 ,240 17,715 18,264 11,457 45 2 2, 194 168 811 2 65 8 196 1 146 4 39 704 28 61 921 13 53 15 45 95,775 4 562 23,147 5 159 6,990 7 ,485 5 ,636 ~~T 1 ,120 269 189 . -- -1 ,400 £ Z S _ _ _ JJL2_ 5,857 „ _ -- 508 _> ,838 2 ,911 _ _ 116 3 182 480 29 675 17 665 12 27 18 36 37 8 121 3 ,471 2 ,023 4 ,080 4 270 13,844 Includes $77 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies, Estimated (St. Louis District). - 2,851 280 5,410 69,607 ] 224 - 4 - 49 ~ 97833™" 10,010 1,107 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 22, 1972 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. * MinneLouis apolis San Dallas Trancisco Kansas City (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 correspondents 58,278 3,025 14,489 3,552 4,655 5,143 2,972 9,878 2,254 1,003 2,257 2,221 6,829 25,256 989 205 564 27,014 8,122 982 50 8 1 1,041 394 6,118 157 1/ 68 506 6,849 1,205 1,049 35 10 4 1,098 390 1,423 75 17 -1,515 618 1,269 110 10 14 1,403 799 1,579 63 13 6 1,661 838 3,42Q 110 27 4 3,570 1,291 710 72 6 1 789 348 488 34 4 3 529 438 1,053 101 8 2 1,164 561 1,385 34 10 3 1,432 496 5,771 148 24 20 5,963 744 586 94,000 26 4,486 147 22,690 29 5,069 44 6,832 42 7,387 46 5,517 90 14,829 21 3,412 13 1,983 23 4,005 26 4,175 79 13,615 782 742 251 33 34 9 201 193 63 40 38 12 71 68 19 41 38 19 55 50 14 122 111 46 26 25 8 18 17 5 33 32 10 43 41 11 99 95 35 95,775 4,562 23,147 5,159 6,990 7,485 5,636 15,108 3,471 2.023 4,030 4,270 13,344 205 9 11 19 11 14 3D LL 26 27 53 L_ L_ 2_ FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 60,593 3,204 15,091 3,640 4,786 5,291 1,885 250 -- 50 350 375 59,750 61,635 3,000 3,250 15,250 15,250 3.650 3,700 4,550 4,900 4,990 5,365 V After deducting $ 137 million participations of other Federal Reserve Banks. 2/ * After deducting $ 152 million participations of other Federal Reserve Banks. Estimated (St. Louis District). 3,194 3,250 3,250 10,085 2,351 1,038 2,344 2,365 7,204 700 155 -- -- 5 -- 9r500 10,200 2r280 2,435 lr050 1,050 2P400 2,400 2,430 2,435 7f400 7,400
@FedFRASER