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oOfilO^'. FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release October 18, 1973 The average of daily figures for total reserves of member banks increased $205 million in the latest statement week to $34,926 million. Required reserves increased while excess reserves and member bank borrowings at Federal Reserve Banks declined. An increase in float was the major factor providing reserves in the latest statement week. Partially offsetting this reserve gain was an increase in currency in circulation. System Open Market Operations provided $632 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 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 of daily figures Week ended Change from week ended Wednesday, October 17, October 10 October 18 October 17, 1973 1973 * 1973* 1972 (Irl millions of dollars) 76,106 304 +1 ,332 - 449 +5,849 + 304 1/76,263 937 1,586 57 __ - 206 + + 564 57 I 1,586 166 45 26 + - 1 46 + 26 26 46 84 1,168 120 . - 187 11 + + 734 120 1,536 115 -1,137 94 +6,276 — — + 384 +6,661 +5,541 5 + 406 + 77 + 140 + 511 +6,671 3,651 1,170 85,439 10,410 400 8,619 104,868 69,193 381 1,124 286 743 2,841 74,568 9 + 753 + 828 +1,121 - 293 30,300 6,414 36,798 35,098 1,700 3,393 1,109 83,794 10,410 400 8,614 103,219 69,157 354 1,439 276 764 2,801 74,792 28,428 6,414 34,926 35,098 - 172 + 371 + 68 + 883 + + + + + + + + + -. — 15 899 271 4 77 6 82 66 507 + 393 - 188 + 205 + 714 - 509 A net of $247million of surplus reserves were eligible to be carried forward from the week ended October 10, into the week ending October 17, On October 17, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,366 million, an increase of $129 million for the week. 1/ Includes $59 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 $44 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 (San Francisco District). CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Oct**17, Oct. 10, Oct. 18, 1973 1972 1973 A S S E T S Gold certificate account 10,303 -— 400 Special Drawing Rights certif. accts. * Cash (1,109) 311 + 7 25 Loans 1,536 + 843 +1,110 Acceptances—Bought outright 46 + 3 25 Held under repurchase agreements 84 + 84 + 84 Federal Agency obligations—Bought outright --. 1,586 + 564 Held under repurchase agreements + 166 166 + 166 U.S. Government securities: Bought outright—Bills 35,461 +4,047 +6,024 Certificates Other -. Notes 37,374 + 642 -. 3,428 Bonds - 170 76,263 Total bought outright +4,047 1/ +6,496 Held under repurchase agreements 937 + 937 + 937 77,200 Total U.S. Government securities 44,984 +7,433 80,618 Total loans and securities +6,080 +9,332 (1,836) Cash items in process of collection 10,025 - 575 -4,059 -Bank premises 213 + 45 Other assets 2/ 957 + 53 - 146 (2,945) TOTAL ASSETS 102,827 +5,565 +5,147 H.4.1(a) L I A B I L I T I E S Federal Reserve notes (1,109) Deposits: Member bank-reserves account U. S. Treasurer—general account Foreign Other 3/ (3) Total deposits (3) (1,833) Deferred availability cash items Other liabilities and accrued dividends (2,945) TOTAL LIABILITIES £ A 2. I 1 A L A C C O U N T S Capital paid in Surplus Other capital accounts 61,159 30,220 1,124 286 743 32,373 6,454 957 100,943 - 125 +6,725 -1,514 + 21 + 89 +5,321 + 270 + 5 +5,471 831 793 260 .. -. 94 f +5,119 +2,127 16 + 58 + 98 +2,267 -2,772 + 378 +4,992 + + + 52 51 52 Contingent liability on acceptances purchased for foreign correspondents 535 3 + 305 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $59 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2./ Includes assets denominated in foreign currencies. 3/ Includes $44 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 Systtim's program of credit restraint. ** Estimated (San Francisco District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 17, 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 U.S. Government obligations oans securities AcceptHoldings Weekly ances Weekly Holdings changes Changes 170 +166 1,471 104 6,803 +3,044 Within 15 days 106 26 18,776 +2,394 65 16 days to 90 days — — 293 18,413 - 454 91 days to 1 year -— 625 22,148 Over 1 year to 5 years -347 _9,358 Over 5 years to 10 years 211 — 1,702 — Over 10 years — H Total +166 77,200 44,984 1,752 130 1,536 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 17, 1973 H.4.1(b) Total Boston New York Philadelphia 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. 10,303 400 525 23 783 93 476 23 850 33 1,001 36 228 22 1,988 70 348 15 107 7 43 15 573 14 3,381 49 F.R. notes of other banks Other cash 1,109 311 157 16 280 25 29 5 34 33 84 34 158 42 60 36 27 20 23 9 40 36 74 14 143 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/ Held under repurchase agreements Total U.S. Government securities Total loans and securities 1,536 64 117 115 189 59 164 455 32 45 149 66 81 46 84 --- 46 84 --- --- --- .-- --- -— — -- --- — -- --- 1,586 166 72 _- 424 166 87 -- 120 — 113 -- 85 -- 252 -- 57 _- 30 -- 67 — 67 -- 212 -- 35,461 1,611 9,473 1,934 2,692 2,531 1,908 5,628 1,285 667 1,497 1,490 4,745 37,374 3,428 76,263 937 77,200 80,618 1,699 156 3,466 .. 3,466 3,602 9,983 916 20,372 937 21,309 22,146 2,038 187 4,159 -« 4,159 4,361 2,838 260 5,790 -5,790 6,099 2,668 245 5,444 -. 5,444 5,616 2,010 184 4,102 — 4,102 4,351 5,932 544 12,104 -12,104 12,811 1,354 124 2,763 -2,763 2,852 703 64 1,434 -1,434 1,509 1,578 145 3,220 -3,220 3,436 1,569 144 3,203 _3,203 3,336 5,002 459 10,206 -10,206 10,499 Cash items in process of collection Bank premises Other assets 2/ 11,861 213 957 450 40 41 2,192 7 254 577 9 52 540 27 63 1,433 14 63 1,278 15 67 1,739 16 129 499 14 30 659 34 19 776 17 36 687 12 36 1,031 8 167 105,772 4,854 25,780 5,532 8,281 6,161 7,679 L6,849 3,805 Includes $59 million securities loaned-fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (San Francisco District). 2,367 4,399 4,746 15,319 TOTAL ASSETS 1/ 2/ * ~ STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 17, 1973 H.4.1(c) New Total Boston York Phila- Clevedelphia land Richmond St. Atlanta Chicago Louis Minneapolis Kansas City San Dallas Franexsco * (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 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 correspondents 62,268 3,135 15,451 3,853 4,975 5,547 3,216 10,481 2,448 1,114 2,429 2,379 7,240 30,220 1,124 1,090 7,357 1,026 1,915 1,422 1,873 4,508 6,870 56 14 18 83 25 1 149 15 27 65 20 14 95 44 100 87 12 5 58 15 9 151 35 21 1,114 2,024 1,613 1,972 1,716 7,077 446 950 785 4,747 1,185 1,175 423 653 35 6 3 697 490 1,634 230 801 66 9 2 878 386 1,071 49 12 5 678 513 632 286 746 1/ 79 541 32,376 8,287 1,156 443 8,207 1,356 957 43 281 47 70 63 55 141 29 23 38 37 130 103,888 4,777 25,295 5,437 7,515 8,173 6,028 16,554 3,741 2,324 4,320 4,645 15,079 831 793 260 33 34 10 211 207 67 41 39 15 74 72 18 46 42 20 61 55 17 130 124 41 28 27 9 20 18 5 35 33 11 46 43 12 106 99 35 105,772 4,854 25,780 5,532 7,679 8,281 6,161 16,84?_ 3,805 2^367 4,399 4,746 15,319 535 22 2/140 26 49 28 38 18 12 22 29 67 1,153 2,573 2,550 7,691 84 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 1/ After deducting $207 65,168 3,328 2,415 175 64,060 3,185 3,360 66,475 16,353 3,922 5,141 5,724 350 350 680 16,650 3,700 4,850 5,115 16,650 4,050 5,200 5,795 3,462 10,696 2,575 700 155 3,600 10,100 2,480 1,200 2,700 2,580 7,900 3,600 10,800 2,635 1,200 2,700 2,585 7,900 5 million participations of other Federal Reserve Banks. * Estimated (San Francisco District). 21 After deducting $395 million participations of other Federal Reserve Banks. 3/ Includes $44 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.
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