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OfJ^Vf/-. f^LRE*?: FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.,4.1 For immediate release September 27, 1973 The average of daily figures for total reserves of member banks increased $257 million in the latest statement week to $34,136 million. Required reserves and member bank borrowings at Federal Reserve Banks increased while excess reserves declined. A decline in float and increases in both Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital were the major factors absorbing reserves in the latest statement week. Partially offsetting these reserve drains were declines in currency in circulation and other deposits with Federal Reserve Banks. In addition, System Open Market operations provided $1,438 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 securitiesBought outright—System account Held under repurchase agreements Special Certificates 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 2/ 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, Sept. 26,* Sept. 19, Sept. 27, Sept, 26, * __1973 1973 J32A JL32L (In millions of dollars) 74,720 170 339 +1,339 170 + 170 137 +5,372 + 170 1/74,779 515 ,567 42 42 + + 526 42 1,567 108 37 24 24 + 22 24 38 19 484 11 +1,641 + 150 4,520 147 2 ,569 940 82 ,259 82,259 10 ,410 400 8 ,592 ,259 39 + 701 -1,263 42 +6,448 101,661 68,344 355 1,326 373 746 2,874 74,018 + + + 707 372 12 972 9 113 115 + 622 + 396 +6,844 +5,674 19 + 285 + 175 + 157 + 657 +6,397 3 ,043 977 85 ,566 10 ,410 400 8 i595 ,191 2,191 150 27,643 6.381 6.38; 34,136 34,068 68 + + + 8 4 84 + 173 1Z2 + 257 + 350 - 93 + 446 + 525 +1,083 +1,052 + 31 1 104,971 68,457 372 1,125 459 670 2,940 74,023 30,949 6,391 37,442 34,068 3,374 A net of $24 million of surplus reserves were eligible to be carried forward from the week ended September 19, into the week ending September 26. On September 26, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,504 million, an increase of $242 million for the week. 1/ Includes $135 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Adjusted to include $112 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 $27 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 nonmember institutions in the Federal Reserve System's program of credit restraint. * Estimated (Philadelphia and Chicago Districts). H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF .ALL FEDERAL RESERVE BANKS (In millions of dol Lars) Change since Wednesday Sept. 26, Sept. 19, Sept. 27, 1972 1973 1973** A S S E T S Gold certificate account 10,303 Special Drawing Rights certif. accts. 400 Cash CI,342) 306 29 + 3 Loans +2,234 + 3 ,678 4,520 Acceptances — Bought outright + 2 22 38 Held under repurchase agreements + + " 19 19 19 Federal Agency obligations—Bought outright + 526 1,567 Held under repurchase agreements + 108 + 108 108 U.S. Government securities: Bought outright—Bills +1,526 + 5,214 33,977 Certificates Other Notes 37,374 671 Bonds 3,428 83 Total bought outright 74,779 +1,526 5,802 1/ Held under repurchase agreements 515 + 515 515 Total U.S. Government securities + 6,317 75,294 +2,041 Total loans and securities +10,626 81,546 +4,404 Cash items in process of collection (1,709) - 2,831 9,220 -1,568 Bank premises + 46 212 + 2 Other assets jj 135 765 + 25 TOTAL ASSETS (3,051) 102,752 +2,866 + 7 a 6 ?7 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 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES £ £ I I 1 £L A C C O U N T S Capital paid in Surplus Other capital accounts (1,342) 60,432 30,869 1,125 459 670 (1,709) 33,123 6,257 (3,051) 100,760 948 829 793 370 - 190 +3,387 + 20 + 48 - 340 +3,115 - 213 + 61 +2,773 + 5,278 + 4,177 + + + + 1 — 92 737 + 276 + 10 + 3,726 - 2,052 + 415 +7,367 51 51 208 Contingent liability on acceptances purchased for foreign correspondents 546 5 + 283 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $135 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies. 3/ Includes $27 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. Estimated (Philadelphia and Chicago Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 26, 1973 (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 Acceptobligations securities Loans ances Holdings Weekly Holdings Weekly Changes 1 changes Within 15 days 108 +107 5,228 +1,357 4 ,451 25 16 days to 90 days 92 — 32 42 18,326 69 91 days to 1 year + 1 — — + 726 302 18,509 Over 1 year to 5 years 22,171 — — — 615 -Over 5 years to 10 years — _9,358 — 347 — Over 10 years 1,702 — -— 211 — Total 4,520 75,294 +2,041 1,675 +108 57 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 26, 1973 H.4.1(b) Total Boston New York Phila-* delphia Cleveland Richmond * Atlanta Chicago St. Louis Mi nneapolis Kansas City Dallas San Francisco (1.n millions of dollars) A S S E T S 10,303 400 488 23 1,374 93 522 23 733 33 716 36 605 22 1,632 70 382 15 360 7 402 15 459 14 2,630 49 F.R. notes of other banks Other cash 1,342 306 178 16 300 25 54 5 53 31 113 35 210 41 64 35 34 20 28 7 42 37 80 14 186 40 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 V Held under repurchase agreements Total U.S. Government securities Total loans and securities 4,520 117 1,305 92 144 275 312 1,096 100 86 139 180 674 38 19 --- 38 19 _-- --- --- _-- _. -- «.— -— .. — .-- ... -- 1,567 108 71 — 426 108 85 — 117 -- 111 -- 80 — 254 -- 57 — 27 -- 60 -- 66 — 213 -- 33,977 1,546 9,234 1,836 2 ,535 2 ,406 1,736 5,506 1,230 594 1,297 1,426 4,631 -37,374 3,428 74,779 515 75,294 81,546 -1,701 156 3,403 -3,403 3,591 -10,158 932 20,324 515 20,839 22,735 -2,019 185 4,040 -4,040 4,217 -2 ,788 256 ,579 T -T ,579 5 ,840 -2 ,647 243 ,296 T -T ,296 5 ,682 -1,909 175 3,820 -3,820 4,212 -6,056 556 12,118 -12,118 13,468 -1,353 124 2,707 -2,707 2,864 -653 60 ,307 .. 1 ,307 1 ,420 -1,427 131 2,855 .. 2,855 3,054 -1,569 143 3,138 ._ 3,138 3,384 -5,094 467 10,192 _10,192 11,079 Cash items in process of collection Bank premises Other assets 10,929 212 765 393 39 38 1,618 7 206 745 9 39 482 27 54 I ,206 14 55 1,035 15 41 1,700 16 107 466 14 24 550 34 16 821 17 25 626 12 30 1,287 8 130 4,766 26,358 5,614 7 ,253 7 ,857 6,181 17,092 3,819 2 ,422 4,413 4,619 15,409 Gold certificate account Special Drawing Rights certif. acct. TOTAL ASSETS 2/ 105,803 lV Includes $135 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2y Includes assets denominated in foreign currencies. * Estimated (Philadelphia and Chicago Districts). ~T H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 26, 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 2/ Total deposits Deferred availability cash items Other liabilities and accrtted 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 61,774 3,130 15,386 3,815 4,923 5,486 3,149 10,400 2,423 1,105 2,416 2,347 7,194 30,869 1,125 459 670 33,123 7,966 991 119 19 2 1,131 379 8,153 293 1/122 562 9,130 1,062 1,020 51 22 18 1,111 539 1,576 56 41 2 1,675 413 1,204 59 24 28 1,315 875 1,950 102 32 9 2,093 750 4,829 37 71 15 4,952 1,282 805 101 16 1 923 373 765 43 11 1 820 433 1,167 48 19 5 1,239 641 1,562 75 25 6 1,668 462 6,847 141 57 21 7,066 757 948 103,811 44 4,684 265 25,843 48 5,513 70 7,081 66 7,742 52 6,044 145 16,779 32 3,751 19 2,377 35 4,331 38 4,515 134 15,151 829 793 370 33 34 15 210 207 98 41 39 21 74 72 26 46 42 27 61 55 21 130 124 59 28 27 13 20 18 7 35 33 14 45 43 16 106 99 53 105,803 4,766 26,358 5.614 7.253 7.857 jj.181 17,092 __3i_8_19_ 2,422 „4,413 4,619 15,409 546 23 2/142 27 50 28 38 86 19 13- 2J_ 11. 68 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral \J !_/ 3/ ~~ 64,898 3,323 2,415 175 64,025 66,440 3,185 3,360 16,364 16,650 16,650 3,877 5,117 5,693 350 350 680 3,700 4,050 4,850 5,200 5,080 5,760 3,421 3,600 3,600 10,620 2,546 700 155 10,100 10,800 2,480 2,635 1,151 2,564 2,525 7,697 5 1,200 1,200 2,700 2,700 2,580 2,585 7,900 7,900 After deducting $ 337 million participations of other Federal Reserve Banks, After deducting $ 404 million participations of other Federal Reserve Banks. Includes $27 million of certain deposits of domestic non-member banks and for eign-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. * Estimated (Philadelphia and Chicago Districts).
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