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FEDERAL RESERVE '•.firsts?: Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release October 25, 1973 The average of daily figures for total reserves of member banks increased slightly in the latest statement week to $34,989 million. Required reserves declined while excess reserves and member bank borrowings at Federal Reserve Banks increased. A decline in float and increases in Treasury cash holdings, Treasury deposits and other deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital were all factors absorbing a significant amount of reserves in the latest statement week. Partially offsetting these reserve drains were increases in gold stock and other Federal Reserve assets and a decline in currency in circulation. In addition, System Open Market Operations provided $351 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 capital Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held 27 Required reserves Excess reserves 2/ NOTE: Averages of daily figures Week ended Change from week ended Wednesday, Oct. 24, Oct. 17, Oct. 25, Oct. 24, . 1973 1972 1973 1973 (In millions of dollars) 76,525 128 + 419 - 176 +6,647 53 1,742 24 + - 156 33 + + 721 22 1,739 172 49 7 + 4 19 - - 23 3 48 47 1,914 125 + + 746 5 +1,149 + 125 3,367 123 - 459 -1,491 71 +6,898 +1,157 — + 383 +8,439 +5,486 +1,156 + 104 + 33 + 335 + 556 +7,671 3,078 lf215 87,126 11,567 400 8,623 107,716 69,077 1,537 1,252 272 673 2,986 75,797 + 768 + 582 +1,434 +1,341 31,919 5,907 37,910 34,746 3,164 2,988 1,198 84,575 11,567 400 8,622 105,165 68,970 1,522 1,566 254 950 2,904 76,167 28,998 5,907 34,989 34,746 243 + 89 + 727 +1 ,157 — 8 + +1 ,892 - 186 +1 ,168 + 127 22 + 186 + 102 +1 ,375 + 516 - 507 + 9 - 352 1/ 76,563 897 A net of $100 million of surplus reserves were eligible to be carried forward from the week ended October 17, into the week ending October 24. On October 24, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,603 million, an increase of $237 million for the week. 1/ Includes $53 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 $36 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. H.4.1(A) CONSOLIDATED STATEMENT OP CONDITION pF ALL FEDERAL RESERVE BANKS (In Billion* of dollars) Wednesday Change 8ince Oct. 24, Oct. 17, Oct. 25, 1972 1973 1973 ASSETS — — 10,303 Gold certificate account * -— 400 Special Drawing Rights certif. accts. — 26 (1,167) 311 Cash + 192 3,367 +1,831 Loans + 2 48 23 Acceptances—Bought outright 47 27 •- 37 Held under repurchase agreements + 719 1,739 + 153 Federal Agency obligations—Bought outright 172 + 6 Held under repurchase agreements + 160 U.S. Government securities: 35,761 300 +5,924 Bought outright--Bills Certificates Other Notes -37,374 + 642 Bonds -3,428 - 170 Total bought outright +6,396 + 300 76,563 1/ Held under repurchase agreements 897 40 - 367 Total U.S. Government securities 77,460 + 260 +6,029 Total loans and securities 82,833 +2,215 -•-7,050 Cash items in process of collection 9,196 (1,601) -1,010 -3,613 Bank premises 216 + 3 + 49 Other assets 2/ + 42 999 - 285 TOTAL ASSETS (2,768) 104,258 +1,250 +3,175 Federal Reserve notes Deposits: Member bank-reserves account U. S. Treasurer—general account Foreign Other 37 Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS. Capital paid in "" Surplus Other capital accounts (1,167) (1,601) (2,768) 61,038 31,839 1,252 272 673 34,036 6,198 1,001 102,273 834 793 358 - 116 +1,438 + 128 14 70 +1,482 - 256 + 39 +1,1*9 +5,035 + + + + + 3 — 98 + 130 - 140 + 75 + 105 + 170 -2,637 + 418 +2,986 53 51 85 Contingent liability on acceptances purchased for foreign correspondents 530 5 + 309 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $53 million securities loaned?»fully secured by U.S. Government securities pledged with Federal Reserve Banks* 2/ Includes assets denominated in foreign currencies. 3/ Includes $36 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-meir»ber institutions in the Federal Reserve System1 s program of credit restraint. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. OCTOBER 24, 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 Acceptobligations Loans securities ances Holdings Weekly Holdings Weekly Changes changes + 2 Within 15 days 3,310 172 64 6,121 -682 16 days to 90 days 57 + 10 + 37 116 31 18,813 91 d*ys to 1 year -+ 7 19,318 300 +905 Ow»r 1 year to 5 years --671 + 46 22,148 C"»r 5 years to 10 years -. — + 78 9,358 425 Over 10 years — + 16 227 _L702 Total 3,367 +159 77,460 +260 TT 1,911 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 24, 1973 H.4.1(b) Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Da lias San Francisco (In millions of dollars) A S S E T S 448 23 826 33 966 36 527 22 1,195 70 283 15 208 7 239 15 676 14 3,308 49 263 25 33 5 41 33 93 34 171 42 70 37 31 21 23 9 44 35 83 14 158 40 111 980 186 99 276 162 741 51 69 135 181 376 48 47 --- 48 47 --- --- --- -— --- --- --- --- — -- --- 1,739 172 79 -- 466 172 95 -- 132 -- 124 -- 93 -- 276 -- 63 -- 33 -- 72 -- 73 -- 233 -- 35,761 1,625 9,576 1,951 2,715 2,552 1,924 5,675 1,296 673 1,487 1 ,502 4,735 -37,374 3,428 76,563 897 77,460 82,833 -1,699 156 3,480 -3,480 3,670 -10,007 918 20,501 897 21,398 23,111 -2,038 187 4,176 -4,176 4,457 -2,838 260 5,813 -5,813 6,044 -2,668 245 5,465 -5,465 5,865 -2,010 184 4,118 -4,118 4,373 -5,932 544 12,151 -12,151 13,168 -1,354 124 2,774 -2,774 2,888 -703 64 1,440 -1,440 1,542 -1,554 143 3,184 -3,184 3,391 -1 ,569 144 ~T,215 -~ ,215 3 ,469 -5,002 459 10,246 -10,246 10,855 10,797 216 999 419 40 41 2,468 10 277 475 9 55 593 27 68 1,186 14 70 865 15 54 1,252 16 143 434 14 31 645 34 21 886 17 36 668 12 55 906 8 148 107,026 4,873 27,367 5,505 7,665 8,264 6,069 15,951 3,717 2,489 4,663 4 ,991 15,472 10,303 400 507 23 1,120 93 F.R. notes of other banks Other cash 1,167 311 157 16 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 17 Held under repurchase agreements Total U.S. Government securities Total loans and securities 3,367 Gash items in process of collection Bank premises Other assets 2_/ Gold certificate account Special Drawing Rights certif. acct. TOTAL ASSETS \_l 2/ Includes $53 million ^curities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 24, 1973 Total Boston New York Phila- Clevedelphia land 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/ 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 acceptances purchased for foreign correspondents 62,205 3,131 15,489 3,843 4,970 5,554 3,210 10,463 2,444 1,115 2,425 2,371 7,190 31,839 1 1,140 80 1,252 272 10 673 5 34,036 1,235 7,799 381 8,816 90 1/ 95 561 9,562 1,505 1,008 110 12 18 1,148 363 1,895 89 22 1 2,007 439 1,482 166 12 24 1,684 845 1,933 114 17 10 2,074 591 3,865 80 38 12 3,995 1,034 782 76 8 1 867 305 739 50 5 4 798 512 1,297 79 10 4 1,390 727 1,833 98 13 6 1,950 526 7,049 220 30 27 7,326 571 66 8,149 56 5,931 148 15,640 34 19 3,650 2,444 38 4,580 39 4,.886 130 15,217 /- 7 O 1 20 18 7 35 33 15 46 43 16 106 99 50 3,71.7 2,489 4,663 4,991 15,472 12 22 29 67 1,151 2,578 2,552 7,690 1,001 105,041 44 4,791 300 26,856 50 5,404 77 7,493 834 793 358 34 34 14 211 207 93 42 39 20 72 26 42 26 55 22 130 124 57 107,026 4,873 27,367 5.505 7,665 8,264 6^069 15,951 530 22 2/138 26 48 28 37 83 1L —• / 28 27 12 18 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 1/ 2/ 3/ 65,169 3,318 2,190 175 64,600 66,790 3,185 3,360 16,309 16,650 16,560 3,908 5,133 5,748 125 350 680 3,900 4,025 4,850 5,200 5,115 5,795 3,470 3,600 3,600 10,716 2,596 700 155 10,400 11,100 2,520 2,675 After deducting $177 million participations of other Federal Reserve Banks. After deducting $392 million participations of other Federal Reserve Banks. Includes $36 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. 5 1,200 1,200 2,700 2,700 2,580 2,585 7,900 7,900
@FedFRASER