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o!^£ v ^ ••f'WRE^V FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release October 19, 1972 The average of daily figures for total reserves of member banks increased $352 million in the latest week to $34,096 million. Required reserves increased while excess reserves and member bank borrowings at Federal Reserve Banks declined. A more than seasonal increase in float and a decline in Treasury deposits with Federal Reserve Banks were the major factors supplying reserves in the latest statement week. Reserves were absorbed by a seasonal rise in currency in circulation. In addition. System Open Market operations absorbed $428 million reserves net, on a weekly average basis through outright sales of Treasury bills and matched sales-purchase transactions. Member bank borrowings averaged $433 million and exceeded excess reserves by $324 million compared to $162 million for the previous week. 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 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 Required reserves Excess reserves NOTE: Averages of daily figures Week ended Chan ge from wee k ended Wednesday, Oct. 20, Oct. 18, Oct . 11, Oct. 18, 1971 1972 1972 1972 (Irl millions of doliars) 70,257 . -- - 269 115 4-2,857 - 265 1/2/69,767 1,022 _— 20 4- 926 49 1 -- 1 25 4- 19 32 71 102 + 101 426 808 83 361 + 942 90 + +4 ,589 4- 278 71 -- 4- 433 4,527 1,203 77,514 10,410 400 8,230 96,554 63,616 359 1,033 199 624 2,290 68,121 28,433 5,663 34,096 33,987 109 -- 1,022 "" — 8 4- 370 + 284 2 + - 484 + 7 40 41 - 271 + 681 +5 ,548 4-4,269 - 101 -1 ,084 454 - 106 38 + +3 ,069 4,778 1,271 77,335 10,410 400 8,232 96,377 63,667 376 1,140 228 645 2,308 68,364 641 289 352 616 264 +2 ,479 4- 546 4-3,025 4-3,126 - 101 28,013 5,663 33,676 33,987 -311 + + + --- + 4- + + - -- A net of $183 million of surplus reserves were eligible to be carried forward from the week ended October 11, into the week ending October 18. On October 18, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,581 million, an increase of $396 million for the week. JL/ Excludes $638 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $52 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Oct. 18, Oct. 11J Oct. 20, 1972 1972 1971 A S S E T S — 10,303 + 428 Gold certificate account * -— Special Drawing Rights certif. accts. 400 Cash + 2 + 25 336 (1,017) Loans 426 + 39 - 69 Acceptances--Bought outright 2 20 + + 71 Held under repurchase agreements Federal Agency obligatons--Bought outright + 926 1,022 Held under repurchase agreements U. S. Government securities: Bought outright—Bills + 827 759 29,437 Certificates Notes 36,732 +2,013 Bonds + 335 3,598 Total bought outright 1/ 2/ 69,767 759 +3,175 Held under repurchase agreements Total U.S. Government securities +3,175 69,767 759 Total loans and securities +4,052 - 718 71,286 Cash items in process of collection +1,786 +1 ,818 (3,715) 13,924 Bank premises + 19 -168 Other assets 3l + 82 1,103 + 77 TOTAL ASSETS +6,392 (4,732) 97,520 +1.dll H.4.1(a) 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 Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (19) (19) (3,696) 56,040 27,933 1,140 228 645 29,946 9,226 92 + 794 - 324 + 15 + 71 + 556 + 654 +3,741 +3,398 -1,008 + 99 - 56 +2,433 + 155 (4,732) 579 95,791 +1,113 +6,320 (1,017) £ A P I T A L A C £ O U N T £ Capital paid in Surplus Other capital accounts 779 742 208 Contingent liability on acceptances purchased for foreign correspondents 230 * 1/ 2/ 3/ <- — — + + 66 - 11 43 40 11 21 Figures in parentheses are the eliminations made in the consolidating process. Excludes $638 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $52 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, OCTOBER 18, 1972 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government Federal Agency Accept securities obligations -ances Loans Holdings Weekly Holdings Weekly Changes changes Within 15 days 418 13 4,073 62 11 + 9 16 days to 90 days 8 14,936 58 - 496 14 -9 91 days to 1 year — — _.. - 201 18,209 128 Over 1 year to 5 years — _-. 24,895 .— 524 Over 5 years to 10 years -_— -6,108 197 Over 10 years -1,546 --_ -148 Total 426 71 69,767 759 1,022 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON H.4.Ub) Total Boston New York Philadelphia Cleveland OCTOBER 18, 1972 St. Richmond Atlanta Chicago Louis Minneapolis Kansas City San Da lias 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 J7 2/ Held under repurchase agreements Total U.S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 3/ TOTAL ASSETS 1/ 2/ 3/ 540 23 1,912 407 23 522 33 869 36 572 22 1,918 70 332 15 130 7 352 15 254 14 2,495 93 336 180 18 207 23 28 12 38 39 96 38 157 38 46 43 21 20 24 8 71 42 43 15 106 40 426 12 81 56 10 5 31 71 9 4 34 18 95 71 __ -.. 71 __ .-._ --- -__. -_- -- _._ __ -..- -_ .- --. «. .„ «.„ „_ 1,022 45 -- 260 -- 55 — 80 -- 77 -. 54 — 165 -- 39 -- 20 -- 42 -- 47 -- 138 .. 1,308 7,496 1,599 2,292 2,211 1,550 4,763 1,112 571 1,207 1,352 3,976 -712 70 -1,686 148 165 2,862 _ _ ,203 -.- 10,303 400 1,017 — 1 29,437 — 36,732 3,598 69,767 — -- _- -_ -. -- -- -- -- 1,633 9,353 1,996 2,859 2,760 1,934 5,943 1,387 160 916 196 280 270 189 582 136 3,101 17,765 3,791 5,431 5,241 3,673 11,288 2,635 -- -- -- — -- — — ... -- -- -- 1,507 4,962 69,767 71,286 3,101 3,158 17,765 18,177 3,791 3,902 5,431 5,521 5,241 5,323 3,673 3,758 11,288 11,524 2,635 2,683 ~T1,353 ,377 ~2,862 2,938 17,639 1,030 3,119 1,102 1,295 1,355 1,822 2,945 1,103 2 78 8 264 4 64 28 80 13 80 16 57 17 161 845 15 37 709 28 25 1,069 168 102,252 5,029 23,803 5,542 7,556 7,810 6,442 16,724 3,968 2 ,308 Excludes $638 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions, Includes $52 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. ~T ,353 49 486 9,424 -- ~~T^ 2 0 3 ~ 3 ,268 9,424 9,657 1,057 12 52 1,291 17 42 4,546 4 ,715 13,809 8 163 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 18, 1972 New Total Boston York Phila- Clevedelphia land Richmond St. Atlanta Chicago 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 forei gn correspondents 57,057 2,983 14,144 3,377 4,553 5,053 2,867 9,708 2,209 986 2,228 2,200 6,749 27,933 1,140 977 76 10 1 6,589 1,161 1,596 1,394 1,952 4,260 5,756 73 19 _- 137 11 19 102 15 19 76 32 64 58 9 2 73 12 _5 136 28 28 1,064 7,418 1,645 1,223 1,688 1,115 1,561 1,059 2,088 1,337 4,432 2,224 622 30 5 1 658 611 1,484 46 11 5 908 92 7 1 1,234 241 1,303 1,574 5,948 919 822 815 228 664 29,965 12,922 881 1/ 69 519 823 1,008 671 579 27 149 32 45 42 34 90 21 14 23 26 76 100,523 4,955 23,356 5,455 7,401 7,715 6,326 16,454 3,909 2,269 4,473 4,622 13,588 779 742 208 33 34 7 201 193 53 39 38 10 71 68 16 41 38 16 54 50 12 121 111 38 26 25 8 18 17 4 33 32 8 43 41 9 99 95 27 102.252 5.029 23.803 5.542 7.556 7.810 6,442 16.724 3,968 2.308 4.546 4.7T? 1,3,809 230 10 2/ 60_ 12 21 12 15 24_ S_ s La- L3_ 30 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 59,531 3,182 2,105 250 58.865 60,970 2.960 3,210 14,793 15.050 15,050 3,444 4,701 5,209 300 350 345 3.250 3,550 4.550 4,900 4.955 5,300 1/ After deducting $ 159 million participations of other Federal Reserve Banks. 2/ After deducting $ 170 million participations of other Federal Reserve Banks. 3,110 3,150 3,150 9,934 2,313 700 155 9.500 10,200 2,230 2,385 1,015 2,316 2,339 7,175 5 1,040 1,040 ?,400 7,380 7,400 2,400 2,385 7,400
@FedFRASER