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O f GOV/, £*:•. '••?«??: FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release September 7, 1972 The average of daily figures for total reserves of member banks increased $358 million in the latest statement week to $33,400 million. Required reserves declined while excess reserves and member bank borrowings at Federal Reserve Banks increased. A decline in Treasury deposits with Federal Reserve Banks was the major factor supplying reserves in the latest statement week. Offsetting this reserve gain was an increase in currency in circulation and a decline in float. In addition, System Open Market operations absorbed $7 million reserves net, on a weekly average basis through outright sales of Treasury bills and matched sales-purchase transactions. Some reserves were supplied during the statement week, however, through repurchase agreements. Member bank borrowings averaged $838 million and exceeded excess reserves by $3 million compared to $197 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 AcceptancesBought outright Held under repurchase agreements LoansMember 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 Averages of daily figures Week ended [Change from week ended Wednesday, Sept. 8, Sept. 6,* Sept. 6,* Aug. 30, 1972 1972 1971 1972 (In millions of dollars) 471 398 +3,070 + 138 1/2/68,287 1,076 72 13 55 +1,076 - 23 1,076 66 33 + + 1 25 838 + 69,796 473 3,088 776 76,217 10,410 400 8,161 95,188 62,868 306 1,215 176 598 2,424 67,586 27,602 5,798 33,400 32,565 835 + 13 21 63 361 73 106 139 47 260 + 494 - 41 +4,778 + 278 8 + 268 + 324 10 - 394 7 + 14 + 73 + 667 +5,723 +3,805 - 158 - 103 + 11 113 + 2j2 +3,462 3,228 810 73,570 10,410 400 8,162 $2 ,542 63 ,339 304 571 184 615 2 ,433 67 ,446 +2,261 + 284 +2,545 +1,915 + 630 25 ,096 5 J98 30,894 32,565 -1,671 + + + + 269 89 358 197 555 NOTE: A net of $130 million of surplus reserves were eligible to be carried forward from the week ended August 30, into the week ending September 6. On September 6, 1972, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $30,414 million, a decrease of $137 million for the week. \j Excludes $1,620 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $26 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. * Estimated (San Francisco District). CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Sept. 6, Aug. 30, Sept. 8, 1972 ** 1972 1971 ASSETS 10,303 + 428 Gold certificate account * 400 Special Drawing Rights certif. accts. 4 + 42 (1,057) 320 Cash 106 -1,224 Loans - 233 63 4 Acceptances—Bought outright + 11 Held under repurchase agreements 58 83 1,076 Federal Agency obligations—Bought outright +1,076 Held under repurchase agreements - 118 - 188 U. S. Government securities: Bought outright—Bills 28,073 -2,026 - 864 Certificates Notes 36,703 +2,120 Bonds + 290 3,511 Total bought outright +1,546 1/ 2/ 68,287 •2,026 Held under repurchase agreements - 554 • 526 Total U.S. Government securities -2,552 + 992 68,287 Total loans and securities 69,532 -3,956 +1,575 Cash items in process of collection (3,135) 11,476 + 950 +1,425 Bank premises 165 + 1 + 18 Other assets 3y + 43 645 - 65 TOTAL ASSETS (4,192) 92,841 •2,966 +3,423 H.4.1(a) tiAiiiiiini 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 (1,057) 55,694 25,016 571 184 615 26,386 (3,135) 8,328 543 (4,192) 90,951 C A P I T A L^ A C C O U N T S Capital paid in Surplus Other capital accounts 777 742 371 Contingent liability on acceptances purchased for foreign correspondents 291 + 549 -3,595 - 835 + 16 + 13 -4,401 + 855 34 -3,031 1 — ( - 66 +3,222 + 22 - 614 + 32 - 118 - 678 + 873 64 +3,353 + + 43 40 13 22 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $1,620 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $26 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies. ** Estimated (San Francisco District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 6. 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 U. S„ Government Accept obligations securities -ances Loans Holdings Weekly Holdings Weekly Changes changes 105 17 2,182 Within 15 days -2,817 35 -117 1 46 15,180 16 days to 90 days + 760 30 - 1 — — -18,450 91 days to 1 year - 495 117 — — -— Over 1 year to 5 years 24,859 519 — — — -Over 5 years to 10 years 6,102 227 Over 10 years -1,514 — — 148 _-.!* Total 106 63 68,287 •2,552 1,076 -118 H.4.Ub) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 6, 1972 Total Boston Philadelphia New York Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San * Francisco (].n millions 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 obligations-Bought outright Held under repurchase agreements U.S. Government securities: Bought outright-Bills Certificates: Other Notes Bonds Total bought outright 1/ Held under repurchase agreements Total U.S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS 1/ 1/ J/ "" * 10,303 400 535 23 4,245 93 507 23 606 33 794 36 246 22 1,757 70 397 15 147 7 245 15 314 14 510 49 1,057 320 178 17 188 24 50 12 50 35 104 40 179 35 50 45 29 19 35 7 70 36 41 14 83 36 106 9 22 2 3 * 45 13 4 2 6 — -- 63 —I — _- 63 -- — -- --- --- --- -"- --" --" --- --" -"" 1,076! 48 -- 277 -- 57 .. 83 -- 80 -- 58 -- 173 -- 40 -- 22 -- 44 -- 49 -- 145 -- 28,073 1,257 7,214 1,492 2,155 2,086 1,524 4,514 1,048 564 1,156 1,275 3,788 .36,703' 3,511 68,287 -. 68,287 69,532j -1,643 157 3,057 »3,057 3,114 •9,432 902 17,548 -17,548 17,910 -1,949 186 3,627 -3,627 3,686 -2,819 270 5,244 — 5,244 5,330 .. 2,728 261 5,075 -_ 5,075 5,155 -1,993 191 3,708 -. 3,708 3,811 -5,901 564 10,979 — 10,979 11,165 .. 1,369 131 2,548 — 2,548 2,592 -738 71 1,373 — 1,373 1,397 -1,511 145 2,812 — 2,812 2,862 -1,667 159 3,101 — 3,101 3,150 -4,953 474 9,215 -9,215 9,360 14,611! 165 645 833 2 53 2,538 8 166 879 4 43 1,021 28 42 1,288 13 45 1,561 16 33_ 2,196 17 88 682 15 21 569 25 17 872 17 24 806 12 36 1,366 8 77 4,755 25,172 5,204 7,145 7,475 5,903 15,388 3,770 2,204 4,141 4,387 11,489 ! y 3/ 97,033 Excludes $1,620 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions, Includes $26 million securities loaned-fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies. Estimated (San Francisco District). H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 6, 1972 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 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 aceteptances purchased for fored-gn correspondents 56,751 2,982 14,093 3,341 4,513 4,984 2,836 9,673 2,202 978 2,207 2,183 6,759 996 1,501 1,265 1,621 3,657 932 714 1,099 1.433 3,527 * * * * JU * * •/V i? * 8 1 847 818 7,433 571 1/ 54 544 8,602 1,850 9 4 1,009 729 16 12 5 1,638 1,272 26 4 3,687 1,648 6 1 939 545 4 1,517 905 9 23 1,297 1,047 543 26 95,143 4,673 136 24,681 29 5,108 42 6,977 40 7,368 33 5,779 86 15,094 33 34 15 201 193 97 39 38 19 71 68 29 41 38 28 54 50 20 97,033 4,755 25,172 5,204 7,145 7,475 15 26 15 25,016 571 184 615 26,386 11,463 111 742 371 291 838 13 2/ 76 — 718 454 7 2 1,108 726 10 4 1,447 634 23 27 3,577 835 20 3,706 13 2,163 21 4,062 24 4,288 73 11,244 120 111 63 26 25 13 18 17 6 33 32 14 42 41 16 99 95 51 5,903 15,388 3,770 2,204 4,141 4,387 11,489 20 43 10 7 12 16 38 1,016 2,298 2,305 7,168 * FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 1/ 14,733 3,195 3,422 4,725 5,148 300 350 285 14,850 3.250 4.400 4.915 14,850 3,550 4,750 5,200 9,907 2,312 700 155 3,150 9,300 2,230 1,040 2,400 2,380 7,400 3,150 10,000 2,385 1,040 2,400 2,385 7,400 3,085 — 5 After deducting $130 million participations of other Federal Reserve Banks. * 2/ After deducting $215 million participations of other Federal Reserve Banks. ** Estimated (San Francisco District). Less than $500,000.
@FedFRASER