H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Afftcting Baik Rtstrvts aid ***f**LRt**; Condition Stottmrnt of F.l. Banks H.4.1 For immediate release January 29, 1970 The average of daily figures of total reserves of member banks decreased $862 million (net) in the latest week to $28,557 million. Required reserves declined sharply reflecting a seasonal decline in member bank deposits early in January. Excess reserves declined somewhat while member bank borrowings from the Federal Reserve System increased. A seasonal decline in currency and a modest increase in other FR assets were the major factors supplying reserves in the latest statement week. However, these reserve increases were about offset by a somewhat greater than seasonal decline in float. In addition, System Open Market operations absorbed over $700 million of reserves, on a weekly average basis, both through outright sales of U. S. Government securities and matched sale-purchase transactions. Member bank borrowings were higher than the previous weekly averages in the month of January and exceeded excess reserves by $870 million, compared to the revised figures of $760 million for the preceding week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 28, Jan. 21, Jan. 29, Jan. 28, and related items iiZflL 1970 1970 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- 1/ 2/ Bought outright--Systera account 55,502 738 +3,518 5"5,568 Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements Acceptances Bought outright 62 13 60 Held under repurchase agreements Discounts and advances-- Member bank borrowings 1,028 + 62 + 137 1,070 Other Float 3,073 - 519 + 521 2,594 Other F. R. assets 2 ,033 + 146 - 924 2,012 Total Reserve Bank credit 61, 698 -1,048 +3, 265 61,364 Gold stock 11, 367 +1, 000 11,367 Special Drawing Rights certif. acct. 200 + 200 200 Treasury currency outstanding 6 .854 + 51 6.854 80,119 -1,050 +4,515 79,725 Currency in circulation 52,090 • 431 +2^937 52,080 Treasury cash holdings 649 2 - 112 643 Treasury deposits with F. R. Banks 1,197 I- 88 + 482 1,256 Foreign deposits with F. R. Banks 137 24 + 5 158 Other deposits with F. R. Banks 675 + 4 + 198 701 Other F. R. liabilities and capital 2,105 + 48 + 277 2,127 Member bank reserves: 56,853 316 +3, 786 56,965 With Federal Reserve Banks 23,266 734 + 729 22,760 Currency and coin 5,291 128 + 256 5,291 Total reserves held 28,557 862 + 985 28,051 Required reserves 28,399 814 +1,015 28,399 Excess reserves 158 48 - 30 - 348 NOTE: A net of $93 million of surplus reserves were eligible to be carried forward from the week ended January 21, into the week ending January 28. y Reflects $60 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $24 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On January 28, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,672 million, an increase of $179 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, 28, Jan. 21, Jan. 29 1970 1970 1969 A S S E TS Gold certificate account 11,036 — +1,011 Special Drawing Rights certif. accts. . * 200 -- + 20C Cash (1,257) 157 + 14 - 71 Discounts and advances 1,070 - 961 + 142 Acceptances: Bought outright 60 10 Held under repurchase agreements Federal Agency obligations- Held under repurchase agreements U, S. Government securities : Bought outright- Bills 20,680 587 +2,536 Certificates Notes 31,392 +2,686 Bonds 3,496 -1,979 Total bought outright 1/ 2/ 55,568 - 587 +3,243 Held under repurchase agreements Total U. S. Government securities 55.568 - 587 +3.243 Total loans and teexiritiea 56,698 -1.551 +3,395 Cash items in process of collection (2,559) 9,547 -1,312 + 879 Bank premises 117 + 3 Other assets 3/ M49255 . t_l5 JL - 951 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,816) 79,,665500 -2.6 9 9 +4,466 k 1 A 1 lit 1 1 II si (1,257) 45,695 301 +2,704 Federal Reserve notes Deposits: 22,760 -1,996 - 175 Member bank reserves U. S. Treasurer--general account 1,256 + 125 + 758 Foreign 158 + 37 + 34 701 5 + 228 Other 4/ Total deposits 24,875 -1,839 + 845 Deferred availability cash items (2,559) 6,953 - 610 + 627 Other liabilities and accrued dividends 521 - Ik ±-.163. TOTAL LIABILITIES (3,816) 78,044 -2,764 +4, 339 C A P I T AL A C C O U N TS Capital paid in*" """ 675 + 1 + 42 Surplus 669 — + 39 Other capital accounts 262 + 64 + 46 Contingent liability on acceptances purchased for foreign correspondents 146 + 2 + 41 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Reflects $60 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. ,2/ Includes $24 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies and IMF gold deposited. ^/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JANUARY 28, 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 1,061 20 2,189 -881 16 days to 90 days 9 40 10,821 +793 91 days to 1 year -- -- 21,427 -499 Over 1 year to 5 year•ss -- 12,811 -- Over 5 years to 10 yejaarrss — 7,642 -- Over 10 years — — 678 — Total 1,070 60 55,568 -587 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 28, 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 11,036 738 2,861 432 990 997 394 2,095 336 157 398 433 1,205 Special Drawing Rights certif. acct. 200 11 47 12 16 18 11 35 8 3 7 7 25 F. R. notes of other banks 1,257 | 122 257 78 102 96 189 77 40 27 45 52 172 Other cash 157 6 21 8 14 12 19 19 11 5 8 11 23 Discounts and advances 1,070 92 176 24 39 91 63 287 13 55 105 35 90 Acceptances: Bought outright 60 -- 60 -- -- -- -- -- -- -- -- -- — Held under repurchase agreements —.— _-» --. «.„ — - __ -- __ __ __ __ __ __ Federal Agency obligations— Held under repurchase agreements 1 — -. U. S. Government securities: Bought outright— Bills 20,680 1,049 5,037 1,112 1,603 1,547 1,153 3,437 761 416 807 890 2,868 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 \J2J 55,568 2,819 13,535 2,987 4,308 4,155 3,099 9,235 2,047 1,118 2,169 ~2 ,390 7,706 Held under repurchase agreements ... *. - - - ... -- --. -- -- -_ -- -- -- _- IE Total U. S. Government securities 55,568 2,819~ 13,535 2,987 4,308 4,155 3,099 9,235 2,047 1,118 2,169 .390 7,706 Total loans and securities 56,698 2,911 13,771 3,011 4,347 4,246 3,162 9,522 2,060 1,173 2,274 2 ,425 7,796 Cash items in process of collection 12,106 715 2,439 719 826 872 1,156 1,726 581 435 867 763 1,007 Bank premises 117 2 9 2 7 11 18 17 10 6 18 8 9 Other assets 3_/ 1,895 91 650 89 141 100 102 254 58 36 68 86 220 TOTAL ASSETS 83,466 4,596 20,055 4,351 6,443 6,352 5,051 13,745 3,104 1,842 3,685 3 ,785 10,457 1/ Reflects $60 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $24 million securities loaned — fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ 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 28, 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) L I A B I L I T I ES Federal Reserve notes 46,952 2,688 11,009 2,678 3,857 4,236 2,513 8,216 1,763 807 1,730 1,696 5,759 Deposits: Member bank reserves 22,760 1,072 6,024 920 1,632 1,132 1,365 3,644 736 565 1,029 1,309 3,332 U. S. Treasurer—general account 1.256 84 219 62 70 133 72 96 70 53 109 99 189 Foreign 158 7 1/ 55 7 12 7 9 21 5 3 6 8 1.8 Other 701 1 2/629 6 2 15 5 8 2 3 8 6 16 TjJtal deposits 24,875 1,164 6,927 995 1,716 1,287 1,451 3,769 813 624 1,152 1,422 3,555 Deferred availability cash items 9,512 642 1,570 569 689 704 958 1,431 455 365 717 560 852 Other liabilities and accrued dividends 521 25 126 27 41 37 28 86 18 11 20 22 80 TOTAL LIABILITIES 81,860 4,519 19,632 4.269 6,303 6,264 4,950 13,502 3,049 1,807 3,619 3,700 10,246 CAPITAL ACCOUNTS Capital paid in 675 32 181 34 60 34 44 100 23 15 28 37 87 Surplus 669 32 177 34 60 34 43 99 23 15 28 37 87 Other capital accounts 262 13 65 14 20 20 14 44 9 5 10 11 37 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 83.466 4,596 20,055 4,351 6,443 6,352 5,051 13,745 3,104 1,842 3,685 3,785 10,457 Contingent liability on ace: eptances purchased for foreign correspondents 146 7 3/ 39 7 13 _____ 7 _ 10 22 5 3 6 8 19 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 49,709 2,828 11,647 2.790 4.144 4,407 2,742 8,622 1,849 843 1,816 1,851 6,170 Collateral for F. R. notes: Gold certificate account 3,222 180 500 300 510 545 1,000 155 27 5 Eligible paper U. S. Government securities 48,162 2.717 11.400 2,620 3 r 750 3 r 955 2/850 7,950 1 780 835 1 f Q/5 1,930 6,50G Total collateral 51,384 2,897 11,900 2,920 4,260 4,500 2,850 8,950 1,935 862 1,875 1,935 JLL!22. JL/ After deducting $103 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 37 After deducting $107 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis