H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release February 13, 1970 The average of daily figures of total reserves of member banks declined $441 million (net) in the latest statement week to $27,939 million. Required re serves, excess reserves, and member bank borrowings from Federal Reserve Banks also declined in this latest period. An increase in other Federal Reserve assets was the major factor supply ing reserves in the latest week. More than offsetting this increase in reserves was a somewhat greater than seasonal increase in currency in circulation. System Open Market operations also absorbed reserves (net) on a weekly average basis. Member bank borrowings exceeded excess reserves by $948 million compared to the revised figure of $1,089 million for the previous week. Averaep s of daily figures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, Feb. 11, Feb . 4, Feb . 12, Feb. 11, and related items 1970 1970 1969 1970 Reserve Bank credit: (I*L millions of: doll. ars) U.S. Government securities— Bought outright—System account 55,521 + 10 +3, 468 -/55,544 Held under repurchase agreements 226 - 104 + 72 615 Federal Agency obligations— Held under repurchase agreements 21 30 8 52 Acceptances Bought outright 59 L 1 + 10 60 Held under repurchase agreements 21 - 7 - 8 68 Discounts and advances— Member bank borrowings 1,071 187 + 272 993 Other Float 2,449 -- - 161 1,987 Other F. R. assets 2,003 + 98 940 1,831 Total Reserve Bank credit 61)371 T2TJ TT 7 m 611150 Gold stock 11,367 — +1 ,000 11,367 Special Drawing Rights certif. acct. 200 + 200 200 Treasury currency outstanding 6,865 + 8 + 58 6,864 79,803 - 212 +3 ,979 79,581 Currency in circulation 52,140 + 180 +2 ,833 52,317 Treasury cash holdings 618 - 15 - 143 613 Treasury deposits with F. R. Banks 1,164 + 93 + 333 1,019 Foreign deposits with F. R. Banks 150 - 7 + 17 136 Other deposits with F. R. Banks 630 - 52 j- 153 752 Other F. R. liabilities and capital 2,266 ±_ 2.294 56,968 274 +3 ,526 57,131 Member bank reserves: + With Federal Reserve Banks 22,835 - 486 + 453 22,450 Currency and coin 5,104 + 45 + 226 5,104 Total reserves held 27,939 - 441 + 679 27,554 Required reserves 27,816 395 + 777 27,816 Excess reserves 123 - 46 98 - 262 NOTE: A net of $117 million of surplus reserves were eligible to be carried forward from the week ended February 4, into the week ending February 11. 17 Includes $81 million securities loaned-fully secured by U.S. Government securi ties pledged with Federal Reserve Banks. On February 11, 1970, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,973 million, an increase of $197 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. 11, Feb. 4, Feb. 12, 1970 1970 1969 A S S E TS Gold certificate account 11 045 — +1,020 s Special Drawing Rights certif. accts. * 200 — + 200 Cash (1,026) 180 + 8 55 Discounts and advances 993 - 193 - 114 Acceptances: Bought outright 60 -« + 12 Held under repurchase agreements 68 24 + 30 Federal Agency obligations— Held under repurchase agreements 52 54 47 U. S. Government securities : Bought outright— Bills 20,656 27 +2,936 Certificates Notes 31,392 — — +2,686 Bonds 3,496 -1.979 Total bought outright 1/ 55,544 + 27 +3,643 Held under repurchase agreements 615 66 + 459 Total U. S. Government securities 56,159 ~ 3T +4.102 Total loans and securities 57,332 - 262 +4,077 Cash items in process of collection (2,230) 8,967 -1,053 - 335 Bank premises 117 1 + 4 Other assets 2y 1,714 20 -M45 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (3,256) 79,555 -1,328 +3,766 L IA B IL I M E S Federal Reserve notes (1,026) 45,924 + 212 +2,594 Deposits: Member bank reserves 22,450 -1,286 + 56 U. S. Treasurer--general account 1,019 - 186 - 144 Foreign 136 - 42 + 3 Other V 752 + 71 - _4_2 Total deposits 24,357 -1,443 - 127 Deferred availability cash items (2,230) 6,980 - 155 + 871 Other liabilities and accrued dividends 565 -- 178 TOTAL LIABILITIES (3,256) 77,826 -1,386 +3, 516 C A P I T AL A C C O U N TS Capital paid in 675 1 + 40 Surplus 669 — + 39 Other capital accounts 385 f 59 + 171 Contingent liability on acceptances purchased for foreign correspondents 148 + 1 + 49 * Figures in parentheses are the eliminations made in the consolid ating process. 1/ Includes $81 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, FEBRUARY 11, 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 984 93 3,577 - 82 16 days to 90 days 9 35 10,320 + 92 91 days to 1 year 21,183 -103 Over 1 year to 5 years 12,811 Over 5 years to 10 years 7,642 Over 10 years 678 Total 993 128 56,211 93 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 11, 1970 San New Phila Cleve Rich St Minne Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) A S S E TS Gold certificate account 11,045 811 2,057 648 908 1,058 609 1,831 355 286 477 426 1,579 Special Drawing Rights certif. acct. 200 11 47 12 16 18 11 35 8 3 7 7 25 F. R. notes of other banks 1,026 108 229 58 101 81 150 50 25 19 32 44 129 Other cash 180 8 26 8 16 14 22 22 12 5 9 12 26 Discounts and advances 993 52 155 5 29 15 62 228 19 6 90 34 298 Acceptances: Bought outright 60 60 — — -- -- — -- -- — -- — Held under repurchase agreements 68 68 — — — — — — — — — -- — Federal Agency obligations— Held under repurchase agreements 52 -- 52 — — — — — — -- — -- — U. S. Government securities: Bought outright— Bills 20,656 1,024 5,181 1,058 1,624 1,521 1,100 3,410 762 411 779 880 2,906 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 I 173 877 179 275 257 186 577 129 70 132 149 492 Total bought outright 1/ 55,544 2,752 13,933 2,844 4~73"6~o" 4,090 2,957 97T70"~ ~T^ T50" 1,106 ~2~ jm~ T r3~6T~ 7,815 Held under repurchase agreements 615 — 615 — — — __ -- -- — — -- -- Total U. S. Government securities 56,159 12,752 14,548 2,844 4,366 4,090 2,957 9,170~ ~2 ,050 1,106 ~~2 ,094 2 ,367 7,815 Total loans and securities 57,332 2,804 14,883 2,849 4,395 4,105 3,019 9,398 2 ,069 1,112 2 ,184 2 ,401 8,113 Cash items in process of collection 11,197 762 1,899 619 832 839 1,050 1,751 588 405 772 645 1,035 Bank premises 117 2 9 2 7 11 18 17 10 6 18 8 9 Other assets 27 1,714 82 598 77 128 94 88_ 231 52 31 60 75 198 TOTAL ASSETS 82,811 4,588 19,748 4,273 6,403 6,220 4,967 13,335 3 ,119 1,867 3 ,559 3 ,618 11,114 1/ Includes $81 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 11, 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 46,950 2,690 11,023 2,666 3,845 4,218 2,517 8,236 1,764 808 1,728 1,691 5,764 Deposits: Member bank reserves 22,450 1,050 5,839 956 1,566 1,052 1,318 3,264 724 591 980 1,169 3,941 U. S. Treasurer—general account 1,019 80 83 28 55 107 67 22 89 66 114 117 191 Foreign 136 6 41 7 12 7 8 19 4 3 5 7 17 Other 752 1 678 5 1 12 3 3 10 5 17 5. 12 Total deposits 24,357 1,137 6,641 996 1,634 1,178 1,398 3,317 820 663 1,109 1,298 4,166 Deferred availability cash items 9,210 652 1,473 496 737 688 916 1,430 457 348 631 515 867 Other liabilities and accn ied dividends 565 26 155 26 42 39 28 88 19 11 21 22 88 TOTAL LIABILITIES 81,082 4,505 19,292 4,184 6,258 6,123 4,859 13,071 3,060 1,830 3,489 3,526 10,885 CAPITAL ACCOUNTS Capital paid in 675 32 181 34 60 34 44 99 23 15 28 38 87 Surplus 669 32 177 . 34 60 34 43 99 23 15 28 37 87 Other capital accounts 38 S 19 98 21 25 29 21 66 13 7 14 17 55 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 82,811 4.588 19,748 4.273 6.403 6.220 4.967 13.335 3.119 1,867 3.559 3.618 11.114 J . Contingent liability on ace eptances purchased for forei gn correspondents 148 7 39 8 13 8 10_ _22_ 5 3 b 8 19 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 11,6. i. 2,761 4,119 4,358 2,709 8,538 1,836 839 1,809 1,829 6,109 Collateral for F. R. notes: Gold certificate account i 3,222 ;00 300 510 545 1,000 155 27 5 I Eligible paper U. S. Government securities i 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 I 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 \J After deducting t> ^5 million participations of other Federal Reserve Banks. 2/ I eludes IMF gold deposit. 3/ After deducting $109 million participation of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis