H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release February 19, 1970 The average of daily figures of total reserves of member banks increased $79 million in the latest statement week to $28,042 million. Required reserves, excess reserves, and member bank borrowings all increased in this latest period. Reserves were provided in the latest week by declines in both Treasury deposits and other Federal Reserve Liabilities. In addition, System Open Market operations supplied $575 million in reserves net on a weekly average basis through repurchase agreements. Partially offsetting these reserve increases were a contra-seasonal decline in float and a decrease in other Federal Reserve Assets. Member bank borrowings exceeded excess reserves by $893 million compared to the revised figure of $924 million for the previous week. Averasr es of daily figures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, Feb. 18, Feb. 11, Feb. 19, Feb. 18, and related items 1970 1970 1969 1970 Reserve Bank credit: (Iri millions oi: dollars) U.S. Government securities— Bought outright—System account 55,543 + 22 +3,435 y 55,543 Held under repurchase agreements 680 + 454 + 275 717 Federal Agency obligations— Held under repurchase agreements 76 • 55 : 48 111 Acceptances Bought outright 58 - 1 + 9 60 Held under repurchase agreements 66 f 45 28 79 Discounts and advances-- Member bank borrowings 1,111 40 67 663 Other Float 2,370 _ 105 - 260 2,424 Other F. R. assets 1,729 - 274 -1,070 1,572 Total Reserve Bank credit 61,633 + 235 +2,477 61,169 Gold stock 11,367 — +1,000 11,367 Special Drawing Rights certif. acct. 229 + 29 + 229 300 Treasury currency outstanding 6,867 + 2 + 58 6,872 80,096 + 266 +3,763 79,708 Currency in circulation 52,202 -i_ 59 +2,825 52,207 Treasury cash holdings 607 - 11 - 157 605 Treasury deposits with F. R. Banks 1,047 - 117 + 378 J 872 Foreign deposits with F. R. Banks 169 + 19 + 36 | 187 Other deposits with F. R. Banks 724 + 94 + 224 1 773 Other F. R. liabilities and capital 2,084 "" 183 + 299 i 2,091 56,834 138 +3,606 56,735 Member bank reserves: With Federal Reserve Banks 23,262 + 403 + 157 22,973 Currency and coin 4,780 - 324 + 294 ; 4,780 Total reserves held 28,042 + 79 + 451 27,753 Required reserves 27,824 + 8 + 596 27,824 Excess reserves 218 + 71 - 145 71 NOTE: A net of $81 million of surplus reserves were eligible to be carried forward from the week ended February 11, into the week ending February 18. \_l Includes $60 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On February 18, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,888 million, a decrease of $85 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 dollar s) Wednesday Change since Feb. 18, Feb. 11, Feb. 19, 1970 1970 A S S E TS Gold certificate account 11,045 +1,020 Special Drawing Rights certif. acctss.. * 300 + 100 + 300 Cash (1,012) 187 + 7 - 51 Discounts and advances 663 335 + 203 Acceptances: Bought outright 60 + 9 Held under repurchase agreements 79 ,- 11 26 Federal Agency obligations— Held under repurchase agreements 111 V 59 *- 90 U. S. Government securities : Bought outright— Bills 20,655 +2,669 Certificates Notes 32,073 + 681 +2,226 Bonds 2,815 - 681 -1,S1Q Total bought outright 1/55,543 +3,376 Held under repurchase agreements fc» kM •fa.. 578, Total U, S. Government securities 56^60 Total loans and securities 57,173 - 164 +4,230 Cash items in process of collection (2,855) 10,247 +1,205 + 924 Bank premises 117 — + 4 Other assets 2/ ,1,455 - ?57 -.i. n?n J TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,867) 80.524 + 391 +5.4Q7 kl ± * Ik 11 IlLfL Federal Reserve notes (1,012) 45,805 137 +2,610 Deposits: Member bank reserves 22,973 + 388 + 880 U. S. Treasurer—general account 872 - 147 + 423 Foreign 187 + 51 + 68 Other 3/ 773 + 20 + 299 Total deposits 24,805 + 312 +1 ,670 Deferred availability cash items (2,855) 7,823 + 924 + 845 Other liabilities and accrued dividends 574 + 10 + 178 TOTAL LIABILITIES (3,867) 79,007 +1,109 +5 ,303 C A P I T AL A C C O U N TS Capital paid in 677 2 + 40 Surplus 669 + 39 Other capital accounts 171 220 + 25 Contingent liability on acceptances purchased for foreign correspondents j^o, + 1 + 51 * Figures in parentheses are the eliminations made in the consoli dating process. 1/ Includes $60 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. If Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 18, 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 655 99 3,911 + 334 16 days to 90 days 8 40 21,007 +10,687 91 days to 1 year „ -- 9,758 -11,425 Over 1 year to 5 year*ss -- 14,130 + 1,319 Over 5 years to 10 yeiaarrss — 6,953 - 689 Over 10 years "*" — *** 612. - 66 Total 663 139 56,371 160 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 18, 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) £ §. i I 1 1 Gold certificate account 11,045 990 2,024 516 1,110 1,013 622 1,753 349 273 389 471 1,535 Special Drawing Rights certif. acct. 300 17 70 17 25 27 16 53 11 5 11 11 37 F. R. notes of other banks 1,012 102 236 55 88 81 145 46 26 16 37 43 137 Other cash 187 8 27 8 17 14 25 23 13 5 9 12 26 Discounts and advances 663 18 229 48 16 79 27 119 25 13 41 13 35 Acceptances: Bought outright I 60 -- 60 -- — -- — — — — -- -- -- Held under repurchase agreements 79 -- 79 -- — -- — — — — — — -- Federal Agency obligations— Held under repurchase agreements 111 111 — -- U. S. Government securities: Bought outright— Bills 20,655 1,023 5,181 1,058 1,624 1,521 1.,1 00 3,410 762 411 779 880 2,906 Certificates __ -- -- -- — -- -- -- -- — — — — Notes 32,073 1.589 8,046 1,642 2,521 2,362 1.,7 07 5,295 1,184 638 1,209 1 ,367 4,513 Bonds 2,815 140 706 144 221 207 150 465 104 56 106 120 396 Total bought outright ]_/ 55,543 2,T52 ~13,933 2,844'" "4,366 4,090 "T, 957 " 9,170 2,050 1,105 2,094 ~2 ,367 7,815 Held under repurchase agreements ~ 717 -- 717 -- — — — — -- -- -- -- -- Total U. S. Government securities 56,260 2,752 14,650 2,844 4,366 4,090 ~2~, 957 9,170 2,050 1,105 2,094 ~2 ,367 7,815 Total loans and securities 57,173 2,770 15,129 2,892 4,382 4,169 2 ,984 9,289 2,075 1,118 2,135 2 ,380 7,850 Cash items in process of collection 13,102 787 2,698 702 884 996 1 ,192 2,066 626 448 846 747 1,110 Bank premises 117 2 9 2 7 11 18 17 10 6 18 8 9 Other assets _2/ 1,455 71 531 65 103 73 73 184 42 26 57 72 158 TOTAL ASSETS 84,391 4,747 20,724 4,257 6,616 6,384 5 ,075 13,431 3,152 1,897 3,502 3 ,744 10,862 y Includes $60 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 18, 1970 1 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 46,817 2,690 10,994 2,657 3,845 4,207 2,499 8,216 1,761 808 1,722 1,689 5.729 Deposits: Member bank reserves 22,973 906 6,464 909 1,740 1,092 1,400 3,097 763 622 954 1,270 3,756 U. S. Treasurer—general account 872 62 130 41 54 111 47 67 75 32 55 75 123 Foreign 187 9 1/ 51 10 17 9 12 27 6 4 8 10 24 Other 773 2 11 703 5 3 15 4 9 3 3 7 3 16 Total deposits 24,805 979 7,348 965 1,814 1,227 1,463 3,200 847 661 1,024 1,358 3,919 Deferred availability cash items 10,678 980 1,810 530 782 832 989 1,702 473 383 674 592 931 Other liabilities and accrued 574 26 166 28 42 38 28 86 19 12 20 23 86 dividends TOTAL LIABILITIES 82,874 4,675 20,318 4,180 6,483 6,304 4,979 13,204 3,100 1,864 3,440 3,662 10,665 CAPITAL ACCOUNTS Capital paid in 677 32 181 34 60 35 44 100 23 15 28 38 87 Surplus 669 32 111 34 60 34 43 99 23 15 28 37 87 Other capital accounts 171 8 48 9 13 11 n 28 6 T A 7 23 TOTAL LIABILITIES AND y -* CAPITAL ACCOUNTS 84,391 4,747 20,724 4,257 6,616 6,384 5.075 13.431 3.152 1.897 3.502 3.744 10.862 Contingent liability on ace: eptances purchased for forei- gn correspondents 149 7 3/ 40 8 13 8 10 22 5 3^ 6 8 19 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 49,261 2,811 11,623 2,753 4,111 4,352 2,702 8,509 1,838 835 1,810 1,829 6,088 Collateral for F. R. notes: Gold certificate account 3,222 180 500 300 510 545 1,000 155 27 5 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 $ 136 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $ 109 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis