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•^£^m&- FEDERAL RESERVE •>,& Factors Affecting Bank Reserves and Condition Statement of F.R. Banks •V^f^^ H.4.1 For immediate release September 6, 1973 The average of daily figures for total reserves of member banks increased $326 million in the latest statement week to $34,1-44 million. Required reserves and member bank borrowings at Federal Reserve Banks declined while excess reserves increased. A decline in float and increases in currency in circulation and other Federal Reserve liabilities and capital were the major factors absorbing reserves in the latest statement week. Partially offsetting these reserve drains was a decline in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations provided $530 million reserves net, on a weekly average basis, through outright purchase of Treasury bills and repurchase agreements. Some reserves were absorbed late in the statement week through matched sale-purchase transactions. 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 4/ Other F.R. liabilities and capital Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held 3/ Required reserves Excess reserves 3/ NOTE: Averages of daily figures Week ended Change from week ended Wednesday, Sept. 5, Sept. 6, Sept. 5, Aug. 29, 197 3 1973 1972 1973 (In millions of dollars) 75,232 404 +300 4-162 +5,436 69 1, 596 150 - 11 + 92 + + 111 174,304 520 78 1,592 46 21 2 - 11 20 12 41 2,362 168 -196 - 17 +1,525 + 168 1,342 164 1,777 781 82,369 10,410 400 8,568 101, 746 68, 499 343 095 271 787 069 74,064 -298 + 33 + 68 -1,279 _± & +6,185 2,388 + 14 + 81 +291 + 407 +6,591 +5,631 + 37 - 120 + 95 + 186 + 645 27,683 6,349 34,144 33,642 502 - 2 -554 - 15 + 5 +125 -149 +230 + 96 +326 - 31 +357 fi!9 +6,475 80,486 10,410 400 8,573 99,869 68,965 346 1,102 284 741 3,011 74,449 117 553 25,420 6.349 + 782 +1,076 - 294 31,881 33,642 -1,761 A net of $157 million of surplus reserves were eligible to be carried forward from the week ended August 29, into the week ending September 5. On September 5, 1973, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $27,927 million, a decrease of $288 million for the week. 1/ Excludes $682 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 21/ Includes $75 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ 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. 47 Includes $24 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 Change since Sept. 5, Aug. 29, Sept. 6, 1972 1973 1973 A S S E T S __ m^ Gold certificate account 10,303 * — — Special Drawing Rights certif. accts. 400 Cash 21 (1,110) 8 299 Loans -2,123 1,342 +1,238 Acceptances—Bought outright 22 41 5 Held under repurchase agreements Federal Agency obligations--Bought outright 1,592 5 + 516 Held under repurchase agreements U.S. Government securities: Bought outright--Bills 33,502 65 +5,429 Certificates Other Notes 37, 374 + 671 Bonds §2 3, 428 Total bought outright 1/2/ 74,304 +6,017 65 Held under repurchase agreements Total U.S. Government securities 74,304 65 +6,017 Total loans and securities -2,198 77,279 +7,749 Cash items in process of collection (1,283) + 696 -3,224 8,451 Bank premises -210 + 45 Other assets 3/ + 22 36 609 TOTAL ASSETS (2,393) -1,488 44,513 97,551 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 4/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES £ LZ11 (1,110) 60,930 25,340 1,102 284 741 (1,283) 27,467 6,143 (2,393) 95,430 890 + 497 -2,312 - 329 + 27 + 1 -2,613 + 699 - 168 -1,585 +5,236 + 192 + 531 + 100 + 103 + 926 -2,227 + 347 +4,282 + + + + A L. A C C O U N T S , Capital paid in Surplus Other capital accounts 828 793 500 1 — v 96 51 51 129 Contingent liability on acceptances purchased for foreign correspondents 522 + 4 + 231 * Figures in parentheses are the eliminations made in the consolidating process. _1/ Excludes $682 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2] Includes $75 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. 4/ Includes $24 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, SEPTEMBER 5, 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 obligations Loans Acceptsecurities ances Weekly Holdings Weekly Holdings Changes changes +234 4,193 25 Within 15 days 1,254 6 18,301 + 16 7 16 days to 90 days 88 35 18,579 -315 379 91 days to 1 year -622 22,171 Over 1 year to 5 years -307 Over 5 years to 10 years 9,358 252 -Over 10 years — 1,702 1,592 - 65 Total 1,342 74,304 41 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 5, 1973 Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City D alias San Francisco (In millions of dollars) A S S E T S Gold certificate account Special Drawing Rights certif. acct. 10,303 400 420 23 1,702 93 769 23 1,060 33 985 36 527 22 2,167 70 405 15 201 7 332 15 279 14 1,456 49 F.R. notes of other banks Other cash 1,110 299 153 16 224 22 48 5 49 31 89 36 194 40 61 35 27 20 29 6 43 37 72 13 121 38 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 1/ 2/ Held under repurchase agreements Total U.S. Government securities Total loans and securities 1,342 96 84 53 122 114 287 241 24 29 112 119 61 41 --- 41 — — — __ --- — — --- --- -.-- --- __ __ ». .. 1,592 72 429 86 119 113 81 258 58 30 61 68 — -- -- -- — — -- -- __ -_ .. ... 33,502 ; 1,525 9,023 1 ,712 5,429 1,212 639 Cash items in process of collection Bank premises Other assets 3/ TOTAL ASSETS 1,811 2,499 2 ,372 -- -- -- -- -- -- -- 10,066 923 20,012 2,019 185 4,015 2,788 256 5,543 2 ,647 243 ~5 ,262 1 ,909 175 3~,796 6,056 556 12,041 1,353 124 2,689 713 65 1,417 «._ -- 1 ,435 „_ 217 _„ 4,566 -- __ __ 1,427 131 2,837 1 ,601 147 ,183 5,094 467 10,127 ~T _— -- -- .. _- __ __ 3 f 382 3,550 20,012 20,566 4,015 4,154 5, 543 5,784 5 ,262 5 ,489 1 ,796 4 ,164 12,041 12,540 2,639 2,771 1,476 9,734 210 609 354 38 27 2,076 7 157 428 8 50 459 27 45 1 S162 14 47 964 15 32 1,287 16 89 402 14 21 527 34 19 701 17 20 523 12 25 851 8 77 99,944 4,581 24,847 5,485 7,488 7 ,858 5 ,958 16,265 3,675 2,299 4,175 4 ,308 13,005 — • 74 f 304 77,279 | --. ... y Excludes $682 million of securities sol d, and scheduled to be bought back, under matched sale-purchase transactions. _2/ Includes $75 million securities loaned fully secured by U.S. Government securities pledged with Federal Reserve Banks, 3/ Includes assets denominated in foreign currencies. — -- 37,374 ! 1,701 156 3,428 3,382 74,304 1,279 _„ -_. „„ •^2,837-^ ^L83 3,010 3 ,370 . 10,127 10,405 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON New York ' Total Boston Phila- Clevedelphia land Richmond Atlanta SEPTEMBER 5, 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 62,040 Deposits: Member bank reserves 25,340 U. S. Treasurer--general account 1,102 Foreign 284 Other 741 1/ . Total deposits 27,467 Deferred availability cash items 7,426 Other liabilities and accrued dividends 890 Q7 K91 TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace eptances purchased for forei-8n correspondents 3,154 15,443 3,821 4,923 5,498 3,200 10,387 2,435 1,108 2,435 2,369 7,267 855 90 11 3 959 340 6,598 95 1/ 95 628 7,416 1,205 1,066 90 12 18 1,186 325 1,808 78 23 3 1,912 406 1,121 120 13 25 1,279 877 1,769 7 18 12 1,806 783 4,180 189 40 11 4,420 984 670 142 9 2 823 314 595 100 6 2 703 421 971 37 11 5 1,024 594 1,353 38 14 5 1,410 382 4,354 116 32 27 4,529 795 235 47 5,379 64 7,305 80 7 25 5,814 139 15,930 31 3,603 21 ?QQ 34 4,087 37 4,198 41 • 5 ' •* ' 1L 7-3/, 1 O CO 136 1 O -1 O -7 1Z , /Z / 828 793 500 33 34 20 209 207 132 41 39 26 74 72 37 46 42 36 61 55 28 130 124 81 28 27 17 20 18 8 35 33 20 45 43 22 106 99 73 99,944 4,581 24,847 5,485 7,488 7,858 5,958 16,265 3,675 2,299 4,175 4,308 13,005 522 22 27136 26 47 27 37 82 18 12 22 28 65 1,155 2,566 2,533 7,668 -- 5 2,600 2,600 2,580 2,585 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 64,700 3,320 16,249 3,883 5,083 5,665 2,415 250 -- 350 350 605 63,690 66,105 3,110 3,360 3,700 4,050 4,850 5,200 5,120 5,725 16,450 16,450 3,434 — 3,600 3,600 10,579 2,565 700 155 10,100 10,800 2,480 2,635 — 1,200 1,200 7,900 7,900 1/ After deducting $ 189 million participations of other Federal Reserve Banks. If After deducting $386 million participations of other Federal Reserve Banks. 3/ Includes $ 24 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