H.4.1 Factors Affecting Reserve Balances of Depository Institutions

figJg&U F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and •rS5?St£--" Condition Statement of F«t* Bonks H.4.1 For immediate release February 5, 1970 The average of daily figures of total reserves of member banks declined $180 million in the latest statement week to $28,377 million. Required reserves declined while excess reserves and member bank borrowings from Federal Reserve Banks increased, A somewhat greater than seasonal decline in float and a reduction in other Federal Reserve assets were the major factors absorbing reserves in the latest week. Partially offsetting these reserve drains were declines in currency in circulation and Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations supplied over $400 million of reserves, on a weekly average basis, primarily, through repurchase agreements. Member bank borrowings exceeded excess reserves by $1,092 minion compared to the unrevised figure of $870 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 4 Jan. 28, Feb. 5, Feb. 4, and related items 12LZQ. 197Q 1969 1970 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright--System account 55,511 + 9 + 3,458 ^55,517 Held under repurchase agreements 330 + 330 + 322 681 Federal Agency obligations-- Held under repurchase agreements 51 51 + 51 106 Acceptances Bought outright 58 4 + 8 60 Held under repurchase agreements 28 + 28 + 28 44 Discounts and advances-- Member bank borrowings 1,258 230 514 1,186 Other Float 2,447 - 626 - 95 2 ,839 Other F. R. assets 1,905 - 128 - 982 1 ,852 Total Reserve Bank credit 61,588 - 110 + 3 ,304 62 ,285 Gold stock 11,367 + 1 ,000 11 ,367 Special Drawing Rights certif. acct. 200 + 200 200 Treasury currency outstanding 6,857 + 3 + 54 6 ,866 80,012 - 107 + 4 ,558 80,718 Currency in circulation 51,960 - 130 + 2 ,896 52,108 Treasury cash holdings 633 - 16 - 128 620 Treasury deposits with F. R. Banks 1,071 - 126 + 581 1,205 Foreign deposits with F. R. Banks 157 + 20 + 28 178 Other deposits with F. R. Banks 682 + 7 + 180 681 Other F. R. liabilities and capital 2,190 ±_ 85 + 296 2,236 Member bank reserves: 56,694 159 + 3,855 57,028 With Federal Reserve Banks 23,318 52 + 702 23,690 Currency and coin 5,059 232 + 238 5,059 Total reserves held 28,377 180 + 940 28,749 Required reserves 28,211 188 + 1,009 28,211 Excess reserves 166 8 69 538 NOTE: A net of $64 million of surplus reserves were eligible to be carried forward from the week ended January 28, into the week ending February 4. V Includes $33 million securities loaned — fully secured by U.S. Government securities pledged with Federal Reserve Banks. On February 4, 1970, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,776 million, an increase of $104 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 Feb. 4, Jan. 28, Feb. 5 : 1970 1970 1969 A S S E TS Gold certificate account 11,045 +1,020 Special Drawing Rights certif. accts. * 200 + 200 Cash (1,169) 172 + 15 - 63 Discounts and advances 1,186 + 116 + 32 Acceptances: Bought outright 60 + 11 Held under repurchase agreements 44 44 + 44 Federal Agency obligations-- Held under repurchase agreements 106 + 106 103 U. S. Government securities : Bought outright-- Bills 20,629 51 +2,809 Certificates Notes 31,392 +2,686 Bonds 3,496 Total bought outright 1/ 55,517 _ 51 +3,516 Held under repurchase agreements 681 + 681 + 623 Total IT. S. Government securities 56,198 + ._6 30 +4.139 Total loans and securities 57,594 + 896 +4,329 Cash items in process of collection (2,236) 9,974 + 402 +1,170 Bank premises 118 + 1 + 5 Other assets 2j 1,734 - 161 -1,069 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,405) 80,837 +1.. 162 +5.592 L I A B I L I T I ES Federal Reserve notes (1,169) 45,712 17 +2,646 Deposits: Member bank reserves 23,690 + 905 +1,046 U. S. Treasurer—general account 1,205 - 51 + 791 Foreign 178 + 20 + 59 Other 3J 681 _-_ 20 + 200 Total deposits 25,754 + 854 +2,096 Deferred availability cash items (2,236) 7,135 + 182 + 526 Other liabilities and accrued dividends 5_£5 +__ A4 + 186 TOTAL LIABILITIES (3,405) 79,166 +1, 097 +5,454 £ ^ Z I l ^t A C C O U N TS Capital paid in 676 1 + 41 Surplus 669 -- + 39 Other capital accounts 326 + 64 + 58 Contingent liability on acceptances purchased for foreign correspondents 147 + 47 * Figures in parentheses are the eliminations made in the consolidating process 1/ Includes $33 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. V Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, February 4. 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 1,180 67 3,659 +1,470 16 days to 90 days 6 37 10,228 - 593 91 days to 1 year 21,286 - 141 Over 1 year to 5 years 12,811 Over 5 years to 10 years 7,642 Over 10 years 678 Total 1,186 104 56,304 736 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 FEBRUARY 4, 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 dollafsT ^ ]> 1 E T S Gold certificate account 11,045 783 1,752 515 954 993 528 2,317 350 251 411 330 1,861 Special Drawing Rights certif. acct. 200 11 47 12 16 18 11 35 8 3 7 7 25 F. R. notes of other banks 1,169 121 247 73 101 87 176 64 33 26 41 48 152 Other cash 172 6 24 8 16 13 21 21 12 5 9 12 25 Discounts and advances 1,186 1 85 376 68 36 36 47 236 33 18 62 39 150 Acceptances: Bought outright 60 60 Held under repurchase agreements 44 44 Federal Agency obligations— Held under repurchase agreements 106 106 U. S. Government securities: Bought outright— Bills 20,629 1,022 5,175 1,057 1,622 1,519 1,098 3,406 761 410 778 879 2,902 Certificates Notes 31,392 1,555 7,875 1,607 2,467 2,312 1,671 5,183 1,159 625 1 ,183 1 ,338 4,417 Bonds 3,496 173 877 179 275 257 186 577 129 70 132 149 492 Total bought outright 1/ 55,517 2,750 13,927 2,843 4,364 4,088 2,955 9,166 2,049 1, 105 2, 093 2, 766' 7,811 Held under repurchase agreements 681 — 681 -- -- — — — — — — — — Total U. S. Government securities 56,198 2,750 14,608 2,843 4,364 4,088 2,955 9,166 2,049 1 ,105 2 ,093 2 ,366 7,811 Total loans and securities 57,594 2,835 15,194 2,911 4,400 4,124 3,002 9,402 2,082 1 ,123 2 ,155 2 ,405 7,961 Cash items in process of collection 12,210 771 2,436 652 832 934 1,115 1,884 591 402 862 691 1,040 Bank premises 118 3 9 2 7 11 18 17 10 6 18 8 9 Other assets 2/ 1,734 84 602 81 128 93 90 232 52 32 61 77 202 TOTAL ASSETS 84,242 4,614 20,311 4,254 6,454 6,273 4,961 13,972 3,138 1 ,848 3 ,564 3 ,578 11,275 1/ Includes $33 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. 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 FEBRUARY 4, 1970 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas 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 46,881 2,682 11,001 2,666 3,845 4,225 2,510 8,200 1,762 805 1,728 1,691 5,766 Deposits: Member bank reserves 23,690 1,131 6,303 845 1,639 1,050 1,301 3,742 769 598 970 1,177 4,165 U. S. Treasurer—general account 1,205 53 311 88 72 146 88 90 62 45 81 62 107 Foreign 178 8 1/ 49 9 16 9 11 26 6 4 7 10 23 Other 681 2 7/612 5 1 13 4 11 2 2 8 4 17 Total deposits 25,754 1,194 7,275 947 1,728 1,218 1,404 3,869 839 649 1,066 1,253 4,312 Deferred availability cash items 9,371 631 1,439 528 694 699 915 1,561 461 347 681 523 892 Other liabilities and accrued dividends 565 27 156 27 42 39 28 88 19 11 21 22 85 TOTAL LIABILITIES 82,571 4,534 19,871 4,168 6,309 6,181 4,857 13,718 3,081 1,812 3,496 3,489 11,055 CAPITAL ACCOUNTS Capital paid in 676 32 181 34 60 34 44 100 23 15 28 38 87 Surplus 669 32 177 34 60 34 43 99 23 15 28 37 87 Other capital accounts 326 16 82 18 25 24 17 55 11 6 12 14 46 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 84,242 4,614 20,311 4,254 6,454 6,273 4.961 13,972 3.138 1.848 3.564 3.578 11,275 Contingent liability on ace: eptances purchased for foreign correspondents 147 7 —11. 39 7_ 13 8_ 10 22_ 5_ 3 6 8^ 19 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 49,517 2,828 11,619 2,775 4,136 4,382 2,723 8,577 1,841 840 1,814 1,841 6,141 Collateral for F. R. notes: Gold certificate account 3,222 180 500 300 510 545 -- 1,000 155 27 -- 5 -- Eligible paper __ .... _ _ _» — — _ . — _. mm mm —— mm — M — m. m. —— U. S. Government securities 48,067 2,667 11,400 2,620 3,750 3,910 2.850 7.950 1,780 835 1.875 1.930 6.500 Total collateral 51,289 2,847 11,900 2,920 4,260 4,455 2,850 8,950 1,935 862 1,875 1,935 6,500 1/ After deducting $ 129 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $ 108 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis