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£te&:••f^TK^e--' FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release September 28, 1972 H.4.1 The average of daily figures for total reserves of member banks declined $38 million in the latest statement week to $33,021 million. Required reserves increased while excess reserves and member bank borrowings at Federal Reserve Banks declined. An increase in Treasury deposits with Federal Reserve Banks and a decline in float were the major factors absorbing reserves in the latest statement week. Partially offsetting this reserve drain was a seasonal decline in currency in circulation. In addition, System Open Market operations supplied $635 million reserves net, on a weekly average basis, but some reserves were absorbed late in the statement week through matched sales-purchase transactions. Member bank borrowings averaged $551 million and exceeded excess reserves by $544 million compared to $473 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 Acceptances-Bought outright Held under repurchase agreements Loans-Member 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 Change from week ended Wednesday, Sept. 27, Sept. 29, Sept. 27, Sept. 20 1972 1972 1972 1971 (In millions of dollars) 69,348 + 705 69 1,041 +2,329 - 263 i/2/68,977 + 989 59 1,041 59 4 5 + 12 39 60 551 168 + 127 842 + 952 + 19 +4,065 + 278 3,738 1,066 75,724 10,410 400 8,196 3,815 - 355 982 + 83 + 194 75,795 10,410 400 8,196 + 94,801 62,670 + - 336 + + + 1,611 198 589 2,217 67,621 27,181 5,840 33,021 33,014 7 + + --_ 8 202 317 17 936 9 82 65 628 - 425 + 387 - 38 + 201 - 239 -. + 654 +3,290 94,730 62,776 347 1,862 183 660 2,215 68,043 +1,708 + 240 +1,948 +2,284 - 336 26,688 5,840 32,528 33,014 - 486 +4,997 +3,985 - 137 - 398 + 52 - 129 82 A net of $139 million of surplus reserves were eligible to be carried forward from the week ended September 20, into the week ending September 27. On September 27, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $29,779 million, a decrease of $194 million for the week. 1/ Excludes $775 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $31 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 Sept. 27, Sept. 20, Sept. 29, 1971 1972 1972 A S S E T S Gold certificate account 10,303 + 428 --Special Drawing Rights certif. accts. * 400 Cash (1,273) 335 + 2 + 30 Loans - 910 + 461 842 Acceptances--Bought outright 60 + 3 + 10 Held under repurchase agreements --41 Federal Agency obligations—Bought outright -1,041 + 980 Held under repurchase agreements --38 U. S. Government securities: Bought outright--Bills 28,763 378 580 Certificates Notes — 36,703 +1,984 Bonds — 3,511 + 248 Total bought outright 1/ 2/ 68,977 - 378 +1,652 Held under repurchase agreements -— - 237 Total U.S. Government securities 68,977 - 378 +1,415 Total loans and securities 70,920 -1,285 +2,787 Cash items in process of collection (3,577) 11,967 -1,127 +1,526 Bank premises -166 + 18 Other assets 3J 900 + 96 + 53 TOTAL ASSETS (4,850) 94,991 -2,314 +4,842 H.4.1(a) 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 (1,273) 55,154 26,608 1,862 (31) (31) (3,546) 183 660 - 179 -2,549 + 904 11 (4,850) 93,309 + 103 -1,553 - 636 +~ 3 -2,365 C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts 778 742 162 -51 Contingent liability on acceptances purchased for foreign correspondents 263 29,313 8,309 533 ——t H +3,346 +1,397 - 159 + 17 52 +1,203 + 395 49 +4,895 + + - 44 40 137 8 Figures in parentheses are the eliminations made in the consolidating process, Excludes $775 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $31 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 1/ y MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 27. 1972 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Federal Agency Accept U. S. Government obligations -ances securities Loans Holdings Weekly Holdings Weekly changes Changes Within 15 days 4,233 839 17 570 20 16 days to 90 days 14,383 3 43 24 + 80 __ -91 days to 1 year 17,886 + 112 127 ---Over 1 year to 5 years 24,859 525 — --Over 5 years to 10 years 6,102 197 — Over 10 years -1,514 — 148 Total 842 68,977 60 378 1,041 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 27, 1972 H.4.1U>) Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago 0".n millions St. Louis Minneapolis Kansas City Dallas San Francisco 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 obligationsBought outright Held under repurchase agreements U.S. Government securities: Bought outright-Bills Certificates: Otner Notes Bonds Total bought outright 1/ 27 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/ 10,303 400 591 23 1,215 93 572 23 911 33 979 36 497 22 2,183 70 399 15 189 7 349 15 404 14 2,014 49 1,273 335 204 18 229 24 60 13 60 37 119 40 190 37 60 44 34 20 42 8 78 40 51 14 146 40 842 75 375 59 8 19 32 124 3 3 31 8 105 --- 60 -- --- --- --- --- --- --- --. — -- --- .-- 1,041 -~ 47 — 268 — 55 -- 80 -- 77 -- 57 -- 167 -- 39 -- 21 -- 43 — 47 -- 140 — 28,763 1,288 7,391 1,528 2,209 2,137 1,562 4,625 1,074 578 1,184 1 ,306 3,881 "" 36,703 3,511 68,977 -68,977 70,920 -1,643 157 3,088 -3,088 3,210 -9,432 902 17,725 -17,725 18,428 -1,949 186 3,663 -3,663 3,777 -2,819 270 5,298 -5,298 5,386 -2,728 261 5,126 -. 5,126 5,222 -1,993 191 3,746 -3,746 3,835 -5,901 564 11,090 -11,090 11,381 -1,369 131 2,574 -2,574 2,616 -738 71 1,387 -1,387 1,411 -1,511 145 2,840 -. 2,840 2,914 -1 ,667 159 3",132 -3~,132 3 ,187 -4,953 474 9,308 -_ 9,308 9,553 15,575 166 900 887 2 69 2,884 8 258 936 4 52 1,113 28 61 1,181 13 59 1,621 16 42 2,501 17 120 683 15 28 637 26 18 1,051 17 31 906 12 37 1,175 8 125 99,872 5,004 23,139 5,437 7,629 7,649 6,260 16,376 3,810 2,338 4,495 4 ,625 13,110 60 "" ! Excludes $775 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $31 million securities loan ed--fully secured by U.S. Government securities pledged with Federal Reserve Banks, Includes assets denominated in forei gn currencies. H. 4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 27, 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 aceseptances purchased for foreign correspondents 56,427 2,961 14,022 3,330 4,504( 4,980 2,797 9,620 2,180 983 2,203 2,174 6,673 26,608 1,862 1,063 5,905 1,108 1,775 1,352 1,898 4,076 5,186 141 8 3 134 15 — 170 8 22 127 11 37 192 24 98 96 7 2 160 9 2 200 21 19 1,260 1,924 1,008 1,552 2,073 1,240 4,390 2,021 707 51 4 2 764 542 1,459 362 879 106 5 4 994 559 1,200 123 7 1 1,305 1,630 5,426 895 707 722 183 691 29,344 11,886 1,194 753 1/ 64 501 6,832 1,718 734 987 533 24 131 28 41 38 36 84 20 11 21 25 74 98,190 4,932 22,703 5,352 7,477 7,557 6,146 16,115 3,753 2 ,300 4,424 4,536 12,895 778 742 162 33 34 S 201 193 71 68 13 41 38 13 54 50 10 121 111 29 26 25 W) 39 38 R 18 17 3 33 32 6 42 41 6 99 95 21 99,872 5,004 23.139 5.437 7.629 7.649 6.260 16.376 3yftin _ 2 H ,338 4,49^ ^,6?s 263 12 14 24 14 18 39 6 11 14 34 1,017 2,296 2,321 7,176 2/ 68 • 6 9 njw FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 14,734 3,210 3,410 4,699 5,159 300 350 345 15,050 3,250 4,550 4,915 15,050 3,550 4,900 5,260 1/ After deducting $ 119 million participations of other Federal Reserve Banks, 2/ After deducting $ 195 million participations of other Federal Reserve Banks. 3,069 3,150 3,150 9,900 2,307 700 155 9,300 10,000 2.230 2,385 5 1.040 1,040 2.400 2,400 2.380 2,385 7,409 7,400
@FedFRASER