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*i»* FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release November 29, 1973 The average of daily figures for total reserves of member banks decreased $688 million in the latest statement week to $34,366 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined. An increase in float and a reduction in Treasurydeposits with Federal Reserve Banks were the major factors supplying reserves in the latest week. Offsetting these reserve gains were increases in currency in circulation and foreign deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $827 million reserves net, on a weekly average basis, primarily through maturing repurchase agreements made in the previous week. Reserves were also provide*3, through outright purchases of Treasury bills and repurchase agreer"!<*nts. 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 obligationsBought 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 V 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 o f daily figures Week ended Change from wee c ended Wednesday, Nov. 28, Nov. 21, Nov. 28, No\'. 2 9 , 1972 '1973 1973 1973 1 (Ir\ millions of dollars) 76,609 425 - 3 727 + 7 ,141 + 393 1,795 57 + - 42 118 + + 618 46 1,810 79 42 13 + - 1 22 „ + 18 5 43 17 1,288 84 « - 281 1 + + 716 84 1,486 76 + 365 137 + 9 ,129 + 1 ,157 + 369 +10 ,655 + 5 ,360 36 + 682 + 439 + 99 + 595 + 7 ,141 4,025 923 85,960 11,567 400 8 .,661 106,3*8 70,655 334 2,001 516 645 3,029 77,ISO + 3 514 + 490 + 3 638 + 3 961 323 29,408 _6,292 35,7*4 34,349 1,435 3,270 871 84,370 11,567 400 8,659 104,996 70,502 329 1,853 651 684 2,986 77,006 27,990 6,292 34,366 34,34.9 17 + 444 +_ 45 - 620 -— ±_ 9 - 611 + 321 4 93 + 94 38 ±_ 73 + 355 _ + - 965 277 6^3 369 319 j 1/76,697 ! 8*0 A net of $212 million of surplus reserves were eligible to be carried forward from the week ended November 21, into the week ending November 28. On November 28, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $26,958 million, an increase of $457 million/ for the week. 1/ Includes $84 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. 3/ Includes $46 million of certain deposits of domestic non-member banks and foreigmF e ^ r ^ a £ k i n g ^ f i 5 U t i o n s h e l d w i t h me*iber banks and redeposited in full with instltilti^rin ^ i n C ? n n e c t i o n * i t h voluntary participation by non-member institutions in the Federal Reserve System's program of credit restraint. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE RANKS (In millions of dollars) Wednesday ! Change since Nov. 28, " ~ Nov. ™ 29, Nov. 21, 1973 1973 -137.2 — ASSETS Gold1certificate account 11,460 + 1,157 — Special Drawing Rights certif. accts. 400 — * — Cash (987) 297 23 - 12 Loans 1,486 4- 99 + 809 Acceptances—Bought outright 43 2 19 + lleld under repurchase agreements 17 + 17 - 60 Federal Agency obligations—Bought outright 1,810 •f 21 + 633 H«ld under repurchase agreements 79 244 -179 U.S. Government securities: Bought outright—Bills 35,362 + 11 + 6,480 Certificates Other Notes 3&,186 + 34 + 1,505 Bonds 3,149 .- 449 Total bought outright 76,697 + 7,536 + 45 1/ Held under repurchase agreements 880 -1,218 + 880 Total U.S. Government securities 77,577 .+ 8,416 dUiZl Total loans and securities 61,012 -1,355 + 9,?35 Carh items in process of collection (1,687) 9,481 70 + 994 B*nk premises 221 + 2 + 52 Other assets 2) 4fy"). 702 188 TOTAL ASSETS (2,674) 103,5/3 j-11,927 zl^ll LIABILITIES Federal Reserve notes Deposits: Member bank-reserves account U. S. Treasurers-general account Foreign Other 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (987) 62,518 29,328 2,001 516 (1,687) - 645 32,490 5,536 973 (2,674) 101,517 + 117 -1,437 +.' 597 - 243 17 -1,100 - 431 - 61 -1,475 + 4,932 + 5,408 + 927 + 316 + 42 + + + + + 6,*°3 309 + 400 -H.1,/16 £ A £ I 1 A L. £ £ £ 2 U N T ; S Capital paid in Surplus Other capital accounts 838 793 425 2 „„ + 100 51 51 109 Contingent liability on acceptances purchased for foreign correspondents gQ^ -, , *Q# + * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $84 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 3/ Includes $46 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. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 28. 1973 (Acceptances c\d securities held under repurchase agreements are cl?«sifi<>d as maturing within 15 days in accordance with maximum maturity of the agreements.) federal Agency U.S. ( overtznn ct obligations Loans Acceptsecurities Holdings Weekly Weekly ances Holdings Within 15 days 1 ,428 16 days to 90 days 58 91 days to 1 year — Over 1 year to 5 years — Over 5 years to 10 years — Over 10 years — Total 1 ,486 25 35 — --60 5,895 19,139 20,359 22,953 7,469 1,762 77,i>/7 changes -1 ,267 [Changes 69 9 -34 163 85 280 665 469 -1 ,173 I,ar9 + + -163 - 76 + 29 - 37 + 24 227 -223 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 28, 1973 H.4.Ub) Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City D alias 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 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 Gash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 11,460 400 912 23 1,489 93 707 23 899 33 1,335 36 541 22 1,713 70 531 15 183 7 342 15 448 14 2,360 49 987 297 104 18 218 21 27 3 45 34 71 31 149 41 66 34 27 20 16 10 46 34 87 16 131 35 1,486 168 363 121 12 278 120 151 50 8 163 42 10 43 17 -— 43 17 — -- — -- -— — -- — -- — — — -- — -- -— -— 1,810 79 81 473 79 94 136 127 98 267 — — — 35,362 1,569 9,253 1,841 — 1/ — 38,186 j 3,149 76,697 880 1 77,577 81,012 1,694 140 3,403 11,168 221 — -- 2,657 — 290 63 34 69 78 -- — -- -- — -- — 2,487 1,912 5,655 1,226 667 1,351 1 ,527 -- -- -- -- -- .. __ 2,686 222 5,395 2,065 170 4,147 6,108 504 12,267 1,323 109 2,658 721 59 1,447 1,458 120 2,929 1 ,649 136 ,312 -_ 5,217 „. 1,989 164 3,994 3,403 3,652 9,991 824 20,068 880 20,948 21,923 3,994 4,209 5,763 5,911 5,395 5,800 4,147 4,365 12,267 12,708 2,658 2,771 1,447 1,489 2,929 3,161 j[,312 3 ,432 11,591 702 423 42 28 1,898 10 190 563 10 43 532 27 46 1,042 14 45 1,107 15 38 1,618 16 95 520 14 24 577 36 15 787 17 22 728 12 25 1,373 8 131 106,247 5,202 25,842 5,585 7,527 8,374 6,278 16,320 3,922 2,333 4,424 4 ,762 15,678 1 '— — 2,869 237 5,763 — -- — -- — 1/ Includes $84 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. -- — T — 5,633 464 11,314 -Tl,314~ ~ STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 28, 1973 H.4.1(c) Total Boston New York Phila- Clevedelphia land Richmond Chicago Atlanta St. Louis Minneapolis San Kansas * Dallas FranCity cisco (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/ Total deposits Deferred availability cash items Other liabilities and accrtled dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace.eptances purchased for forea-gn correspondents 3,180 15,693 3,999 5,103 5,670 3,365 10,640 2,511 1,131 2,465 2,403 7,345 29,328 ! 1,351 2,001 178 516 20 645 5 1,554 32,490 7,223 337 7,004 534 1/169 540 8,247 1,097 983 80 23 20 1,106 328 1,625 145 43 1 1,814 361 1,434 224 24 21 1,703 817 1,828 115 33 12 1,988 726 3,936 196 74 10 4,216 994 909 36 16 3 964 346 641 49 11 3 704 433 1,084 88 20 4 1,196 645 1,571 145 25 5 1,746 466 6,962 211 58 21 7,252 673 40 142 63,505 973 46 271 48 7? 64 57 147 32 20 34 104,191 5,117 25,308 5,481 7,350 8,254 6,136 15,997 3,853 2,288 4,340 838 793 425 34 34 17 214 207 113 42 39 23 74 72 31 47 42 31 62 55 25 131 124 68 28 27 14 20 18 7 35 33 16 106,247 5,202 25,842 5,585 7 y 527 8,374 6,278 lL,32t> —J,922 2,333 4,424 605 25 2/158 30 55 31 42 __ 2£_ 14_.- ii- 25 4,655 15,412 46 43 18 105 99 6? 4,762 15,678 32L 26 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,330 175 3,185 3,360 16,393 — 16,650 16,650 4,063 5,303 5,808 350 350 720 3,800 4,150 5,000 5,350 5,145 5,865 3,561 3,700 3,700 10,890 2,629 700 155 10.400 11,100 2,520 2,675 1,162 U222 1,200 2,593 — ?r700 2,700 2,566 7,786 5 ?,6V> 2,635 8,000 8,000 \J After deducting $347 2/ 3/ After deducting $447 million participations of other Federal Reserve Banks. Includes $46 million of certain deposits of domestic non-member banks and foreign-owned 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. million participations of other Federal Reserve Banks.
@FedFRASER