H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release January 22, 1970 The average of daily figures of total reserves of member banks increased $471 million (net) in the latest statement week to $29,399 million. Required reserves, excess reserves and member bank borrowings from Federal Reserve Banks all increased in the latest period. A seasonal decline in currency in circulation and a decrease in Treasury deposits with Federal Reserve Banks were the major factors providing reserves in the latest week. Partially offsetting these reserve increases was a contra-seasonal decline in float. System Open Market operations absorbed a modest amount of reserves (net) on a weekly average basis. Most of this absorbtion was through the outright sales of U. S. Government securities. Member bank borrowings averaged somewhat higher than in early January and exceeded excess reserves by $780 million, compared to the revised figure of $853 million for the previous week. Averages of daily fig ures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 21, Jan. 14, Jan. 22, Jan. 21, and related items 1970 1970 1969 1970 Reserve Bank credit: (Iri millions of: dollars) U.S. Government securities— 1/ Bought outright—System account 56,240 57 + 3,753 56,155 Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements Acceptances -- Bought outright 62 4 11 63 Held under repurchase agreements Discounts and advances— Member bank borrowings 966 102 - 184 2,031 Other Float 3,572 _ 182 + 436 3,280 Other F. R. assets 1,887 + 13 - 1,133 1,862 Total Reserve Bank credit 62,726 - 129 + 3,250 63,391 Gold stock 11,367 — + 1,000 11,367 Special Drawing Rights certif. acct. 200 — + 200 200 Treasury currency outstanding 6,856 — +_ 55 6,856 81,149 - 129 + 4,504 81,814 Currency in circulation 52,521 - 519 + 2,984 52,380 Treasury cash holdings 651 - 8 - 112 660 Treasury deposits with F. R. Banks 1,109 - 153 + 564 1,132 Foreign deposits with F. R. Banks 161 - 20 - 40 121 Other deposits with F. R. Banks 671 - 7 + 186 705 Other F. R. liabilities and capital 2,057 + 60 + 269 2,076 Member bank reserves: 57,169 - 649 + 3,850 57,074 With Federal Reserve Banks 23,980 + 520 + 654 24,740 Currency and coin 5,419 - 49 + 396 5,419 Total reserves held 29,399 + 471 + 1,050 30,159 Required reserves 29,213 + 296 + 1,137 29,213 Excess reserves 186 + 175 - 87 946 NOTE: A net of $54 million of surplus reserves were eligible to be carried forward from the week ended January 14, into the week ending January 21. \J Includes $35 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. On January 21, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,493 million, an increase of $165 million for the week. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Jan. 21, Jan. 14, Jan. 22, 1970 1970 1969 A S S E TS Gold certificate account 11,036 mtmt +1,011 Special Drawing Rights certif. accts. * 200 -- + 200 Cash (1,208) 143 + 17 - 82 Discounts and advances 2,031 +1,025 +1,170 Acceptances: Bought outright 63 13 Held under repurchase agreements Federal Agency obligations-- Held under repurchase agreements U. S. Government securities : Bought outright— Bills 21,267 + 456 +2,964 Certificates Notes 31,392 4-2,686 Bonds 3,496 -1,979 Total bought outright 1/ 56,155 + 456 +3,671 Held under repurchase agreements Total U. S. Government securities 56,155 + 456 +3.671 Total loans and securities 58,249 +1,481 +4,854 Cash items in process of collection (2,548) 10,843 - 198 +1,257 Bank premises 117 — + 4 Other assets 2/ 1,745 15 -1,166 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,756) 82,333 +1,285 +6,078 k I £ HIk 11l!1 Federal Reserve notes (1,208) 45,996 483 +2,743 Deposits: Member bank reserves 24,740 +2,173 +1,529 U. S. Treasurer—general account 1,132 62 + 795 Foreign 121 1 75 Other V 705 + 2 + 209 Total deposits 26,698 +2,112 +2,458 Deferred availability cash items (2,548) 7,563 - 383 + 603 Other liabilities and accrued dividends 535 26 + 160 TOTAL LIABILITIES (3,756) 80,792 +1,220 +5,964 £ A P JL T A L A C C O U N TS Capital paid in 674 + 1 + 41 Surplus 669 — + 39 Other capital accounts 198 + 64 + 34 Contingent liability on acceptances purchased for foreign correspondents 144 + 37 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $35 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 21, 1970 (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 securities and Discounts and Federal Agency obligations advances Acceptances Holdings Weekly changes Within 15 days 2,026 19 3,070 +1,538 16 days to 90 days 44 10,028 - 728 91 days to 1 year — 21,926 - 354 Over 1 year to 5 years — 12,811 ~ Over 5 years to 10 years — 7,642 -- Over 10 years — 678 — Total 2,031 63 56,155 + 456 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 21, 1970 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 11,036 638 3,018 422 1,160 798 404 1,904 380 190 429 323 1,370 Special Drawing Rights certif. acct. 200 11 47 12 16 18 11 35 8 3 7 7 25 F. R. notes of other banks 1,208 118 243 73 90 101 181 74 38 25 48 53 164 Other cash 143 5 18 7 13 11 18 16 10 4 8 11 22 Discounts and advances 2,031 196 455 24 10 50 11 483 30 55 40 109 568 Acceptances: Bought outright 63 -- 63 -- __ — — -- _ — «.« — _ «. — _ — Held under repurchase agreements mm mm -,- mmm —— „ «. _ m. - — .... _ _ _ _ — m. _ _ _ — Federal Agency obligations— Held under repurchase agreements _ _ mM mm —m U. S. Government securities: Bought outright— Bills 21,267 1,079 5,180 1,143 1,648 1,591 1,186 3,535 783 428 830 915 2,949 Certificates — — — -- -- -- — — — -- -- -- -- Notes 31,392 1,593 7,646 1,687 2,434 2,347 1,751 5,217 1,157 632 1,225 1 ,350 4,353 Bonds 3,496 177 852 188 271 261 195 581 129 70 137 150 485 Total bought outright 56,155 2,849 13,678. 3,018 4,353 4,199 3,132 9,333 2,069 1,130 2,192 2*, 415 7,787 Held under repurchase agreements -- — — -- -- — — -- -- -- -- — 2H Total U. S. Government securities 56,155 2,849 13,678 3,018 4,353 4,199 3,132 9,333 2,069 1,130 2,192 2* 7,787 Total loans and securities 58,249 3,045 14,196 3,042 4,363 4,249 3,143 9,816 2,099 1,185 2,232 2 ,524 8,355 Cash items in process of collection 13,391 836 2,563 803 1,009 1,128 1,245 2,058 613 479 892 731 1,034 Bank premises 117 2 9 2 7 11 18 17 10 6 18 8 9 Other assets 1/ 1,745 80 610 8J^ 130 92_ 93 232 53_ 32 62 79 201 TOTAL ASSETS 86,089 4,735 20,704 4,442 6,788 6,408 5,113 14,152 3,211 1,924 3,696 3 ,736 11,180 1/ Includes assets denominated in foreign currencies and IMF gold deposited. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 21, 1970 New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas York delphia land mond Louis apolis City (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 47,204 2,702 11,065 2,696 3,875 4,248 2,534 8,267 1,772 810 1,737 1,704 Deposits: Member bank reserves 24,740 1,138 6,753 970 1,818 1,125 1,305 3,807 812 617 1,096 1,284 U. S. Treasurer--general account 1,132 79 168 58 83 103 78 92 65 56 80 83 Foreign 121 5 1/ 40 6 10 6 7 16 4 2 5 6 Other 705 2 2/630 4 2 15 5 7 3 5 9 5 Total deposits 26,698 1,224 7,591 1,038 1,913 1,249 1,395 3,922 884 680 1,190 1,378 Deferred availability cash items 10,111 709 1,512 603 824 788 1,057 1,644 484 388 685 549 Other liabilities and accrued dividends 535 26 129 26 40 40 29 88 19 12 21 23 TOTAL LIABILITIES 84,548 4,661 20,297 4,363 6,652 6,325 5,015 13,921 3,159 1,890 3,633 3,654 CAPITAL ACCOUNTS Capital paid in 674 32 181 34 60 34 44 99 23 15 28 37 Surplus 669 32 177 34 60 34 43 99 23 15 28 37 Other capital accounts 198 10 49 11 16 15 11 33 6 4 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 86,089 4,735 20,704 4,442 6,788 6,408 5,113 14,152 3,211 1,924 3,696 Contingent liability on ace: eptances purchased for foreign correspondents 144 OC San Fran cisco 5,794 4,015 187 14 18 4,234 868 82 10,978 87 87 28 3,736 11,180 7 3/ 38 8 13 7 9 21 5 3 6 8 19 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,844 11,696 2,804 4,164 4,424 2,758 8,671 1,857 848 1,826 1,861 6,203 Collateral for F. R. notes: Gold certificate account 180 500 300 510 545 -- 1,000 155 27 5 Eligible paper U. S. Government securities 2,717 11.400 2,620 3,750 3,955 2,850 7,950 1,780 835 1.875 1.930 6.500 Total collateral 2,897 11,900 2,920 4,260 4,500 2,850 8,950 1,935 862 1,875 1,935 6,500 1/ After deducting $ 81 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3/ After deducting $106 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis