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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release October 4, 1973 The average of daily figures for total reserves of member banks increased $489 million in the latest statement week to $34,625 million. Required reserves and excess reserves increased while member bank borrowing at Federal Reserve Banks declined. An increase in Treasury deposits with Federal Reserve Banks was the major factor absorbing reserves in the latest statement week. Partially offsetting this reserve drain was a decline in foreign deposits with Federal Reserve Banks. In addition, System Open Market Operations provided $1,491 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 2/ Required reserves Excess reserves 2/ NOTE: Averages of daily figures Week ended Change from week ended Wednesday, October 3, October 3, Sept . 26, Oct. 4, 1972 1973 1973 1973 (In millions of dollars) 74,936 1,188 + 216 +1 ,018 +5,030 + 804 1/75,091 1,753 1,567 «._ + 184 + + 534 199 1,566 226 + + + 24 67 40 99 - 672 6 - +1,083 + 144 1,206 59 48 807 --6 813 23 16 445 121 33 97 427 - 953 78 +6,660 3,401 1,028 84,540 10,410 39 95 1,519 144 2,507 „ 990 + + 83,066 10,410 400 8,598 102,474 68,366 + + + 371 + 1,771 + 252 713 + + 2,972 74,445 28,029 6,512 34,625 34,226 '399 2 71 -— + 400 +7,059 +5,609 + 15 + 465 + 60 + 50 + 694 +6,893 + 386 + 131 + 489 + 158 + + + + 725 1 + + 169 331 166 644 894 356 152 400 8,599 103,949 68,703 367 1,594 239 612 3,101 74,616 29,333 6,512 35,929 34,226 1,703 A net of $47 million of surplus reserves were eligible to be carried forward from the week ended September 26, into the week ending October 3. On October 3, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,247 million, a decrease of $257 million for the week. 1/ Includes $87 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 $26 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. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Cfeange since October 3, Sept. 26, October 4, 1973 1972 1973 A S S E^T S. Gold certificate account 10,303 --Special Drawing Rights certif. accts. * 400 -— Cash (1,230) - 30 + 2 307 Loans 1,206 -3,314 + 112 Acceptances—Bought outright + 2 - 26 40 Held under repurchase agreements - 12 + 80 99 Federal Agency obligations--Bought outright 1,566 1 + 544 Held under repurchase agreements 356 + 262 + 248 U.S. Government securities: Bought outright—Bills + 312 +4,535 34,289 Certificates Other Notes -37,374 + 671 Bonds 3,428 — - 83 Total bought outright \J + 312 75,091 +5,123 Held under repurchase agreements + 578 +1,238 1,753 Total U.S. Government securities 76,844 +1,550 +5.701 Total loans and securities 80,111 -1,435 +6,581 Cash items in process of collection (1,631) + 666 -3,099 9,454 Bank premises + 46 213 + 1 Other assets 2/ 815 - 108 + 31 TOTAL ASSETS (2,861) 101,603 - 735 +3,390 L I A B I L I TIES Federal Reserve notes "" Deposits: Member bank-reserves account U. S. Treasurer—general account Foreign Other 3/ TotaT deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES S A I I 1 A L A£ C0U N T £ Capital paid in "" Surplus Other capital accounts (1,230) (4) (4) (1,627) (2,861) 60,671 29,253 1,594 239 612 31,698 6,133 1.409 99,911 832 793 67 + 244 -1,616 + 469 - 220 - 58 -1,425 + 290 + 460 - 431 +5,204 - 306 + 325 + 69 - 52 + 36 -2,614 + 819 +3,445 + + 53 + 51 - 159 3 — - 307 Contingent liability on acceptances purchased for foreign correspondents 546 — + 293 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $87 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2,/ Includes assets denominated in foreign currencies. 3/ Includes $26 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. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. OCTOBER 3, 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 securities Loans ances Weekly Holdings Weekly Holdings changes Changes 6,734 +1,506 356 +248 Within 15 days 1,116 110 18,294 - 32 92 16 days to 90 days 90 29 18,608 + 99 301 - 1 91 days to 1 year 22,148 - 23 615 Over 1 year to 5 years Over 5 years to 10 years 9,358 — 347 Over 10 years --1,702 — 211 ~ Total 1,206 139 •76,844 +1,550 1,922 +247 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 3, 1973 H.4.1(b) Total I Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Franci sco (In millions of dollars) A S S E T S 10,303 400 382 23 46 93 724 23 602 33 1,054 36 372 22 2,410 70 310 15 176 7 43 15 422 14 3,762 49 F.R. notes of other banks Other cash 1,230 307 173 16 307 24 32 4 50 32 102 35 172 41 61 37 29 20 29 7 38 36 78 14 159 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 Bond s Total bought outright 1/ Held under repurchase agreements Total U.S. Government securities Total loans and securities 1,206 86 93 79 96 107 154 218 58 25 154 75 61 — — 40 99 — — — — — — — — — — — — -— — — — — 112 — 84 -- 249 — 57 — 29 — 66 — 66 — 210 — Gold certificate account Special Drawing Rights certif. acct. Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 1/ 2/ 1,566 356 , 71 -- 418 356 85 — — — . 119 — 34,289 1,558 9,159 1,871 2,603 2,447 1,845 5,442 1,243 645 1 ,448 1 ,440 4,588 37,374 3.428 75,091 1,753 76,844 9,983 916 20,058 1.753 21,811 22,817 2,038 187 4,096 -4,096 4,260 2,838 260 5,701 — 5,701 5,916 2,668 245 5,360 — 5,360 5,579 2,010 184 4,039 -4,039 4,277 5,932 544 11,918 -11,918 1,354 124 2,721 -2,721 703 64 1,412 -1,412 »U,111 1,699 156 3,413 — 3,413 3,570 12,385 2,836 1,466 1 ,578 145 ,171 T — T,171 "T 7391 1 ,569 144 ,153 ~T — ,153 ~T,294 5,002 459 10,049 -10,049 10,320 11,085 213 815 404 40 34 1,921 7 214 437 9 41 468 27 55 1,674 14 96 1,095 15 42 1,485 16 113 430 14 26 587 34 18 774 17 31 593 12 31 1,217 8 114 104,464 4,642 25,429 5,530 7,183 8,590 6,036 16,577 3,680 2,324 4 ,345 4 ,458 15,670 40 99 Includes $87 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. T H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Phila- Clevedelphia land RichAtlanta mond OCTOBER 3, 1973 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 accrvted 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 61,901 3,130 15,419 3,829 4,927 5,513 3,165 10,392 2,432 1,107 2,416 2,358 7,213 29,253 1,594 239 616 31,702 7,760 906 113 10 3 1,032 369 7,151 367 1/ 58 493 8,069 1,199 1,117 87 12 17 1,233 335 1,531 98 22 2 1,653 385 1,313 211 13 28 1,565 929 1,865 57 17 15 1,954 741 4,464 102 39 25 4,630 1,151 722 83 8 3 816 342 622 72 6 3 703 452 1,070 91 10 5 1,176 643 1,391 98 13 6 1,508 462 7,101 215 31 16 7,363 752 1.409 102,772 42 4,573 311 24,998 49 5,446 68 7,033 489 8,496 ST 5,913 T*9 16,312 32 3,622 22 2,284 39 4,274 127 38 4,366 15,455 832 793 67 34 34 1 211 207 13 41 39 4 74 72 4 46 42 6 61 55 7 130 124 11 28 27 3 20 18 2 35 33 3 104,464 4,642 25,429 5,530 7,183 8,590 6,036 16^577 3^680 2^324 4,345 546 23 2/143 27 50 28 38 86 19 12 23 29 68 1,146 2,572 2,519 7,699 46 43 3 106 99 10 4,458 15.670 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 64,937 3,307 2,415 175 64,025 66,440 3,185 3,360 16,384 16,650 16,650 3,882 5,125 5,703 350 350 680 3,700 4,050 4,850 5,200 5,080 5,760 3,426 3,600 3,600 10,616 2,558 700 155 10,100 10,800 2,480 2,635 5 1,200 1,200 2,700 2,700 2,580 2,585 7,900 7,900 1/ After deducting $ 181 million participations of other Federal Reserve Banks. 2/ 3/ After deducting $ 403 million participations of other Federal Reserve Banks. Includes $26 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.
@FedFRASER