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 '-?!*4U@F' Condition Statement of F.R. Banks H.4.1 For immediate release February 26, 1970 The average of daily figures of total reserves of member banks decreased $533 million in the latest statement week to $27,509 million. Required reserves and excess reserves both declined in the latest period. A somewhat greater than seasonal decline in currency in circulation was the major factor providing reserves in the latest statement week. Several other items also provided a significant amount of reserves. These increases were more than offset by System Open Market operations which absorbed $570 million in reserves net on a weekly average basis, although the system did supply reserves through repurchase agreements. Member bank borrowing decreased somewhat and exceeded excess reserves by $991 million compared to the revised figure of $888 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Feb. 18, 1 freb. 26, Reserve Bank credit, Feb. 25, Feb. 25, and related items 1970 1970 1969 1970 Reserve Bank credit: (In millions of dollars) U.S. Government securities- Bought outright--System account 55,487 56 +3,363 1/ 55, 543 Held under repurchase agreements 226 454 + 129 147 Federal Agency obligations-- Held under repurchase agreements 56 20 48 59 Acceptances Bought outright 60 + 2 + 8 60 Held under repurchase agreements 23 - 43 - 29 25 Discounts and advance8-- Member bank borrowings 1,064 _ 47 + 307 833 Other 12 + 12 + . 12 40 Float 2,466 + 96 - 203 ,841 Other F. R. assets 1,765 + 36 - 918 ,802 Total Reserve Bank credit 61,158 - 475 +2, 716 60,350 Gold stock 11,367 — +1, 000 11,367 Special Drawing Rights certif. acct. 300 + 71 + 300 300 Treasury currency outstanding 6,873 + 6 + 60 6,879 79,698 - 398 +4, 076 78,896 Currency in circulation 52,080 - 122 +2, 932 52,224 Treasury cash holdings 600 - 7 - 163 602 Treasury deposits with F. R. Banks 1,085 + 38 + 523 900 Foreign deposits with F. R. Banks 196 + 27 + 67 228 Other deposits with F. R. Banks 759 + 35 + 276 837 Other F. R. liabilities and capital 2,100 + 16 + 210 2.125 Member bank reserves: 56,820 - 14 +3, 845 56,916 With Federal Reserve Banks 22,878 - 384 + 231 21,980 Currency and coin .4,631 - 149 + 179 4,631 Total reserves held 27,509 - 533 + 410 26,611 Required reserves 27,436 - 383 + 541 27,436 Excess reserves 73 - 150 - 131 - 825 NOTE: A net of $153 million of surplus reserves were eligible to be carried forward from the week ended February 18, into the week ending February 25. 1/ Includes $26 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On February 25, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,055 million, an increase of $167 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 mi11tons of dollars) Wednesday Change since Feb. 25, TeFT 18, ' Feb. 26, 1970 1970 1969 A S S E T! Gold certificate account 11,045 — +1,020 Special Drawing Rights certif. accts. * 300 — + 300 Cash (989) 193 + 6 - 39 Discounts and advances 873 + 210 + 374 Acceptances: Bought outright 60 -• + 9 Held under repurchase agreements 25 54 + 25 Federal Agency obligations- Held under repurchase agreements 59 52 + 59 U. S. Government securities : Bought outright-- Bills 20,655 +2,974 Certificates Notes 32,073 — +2,147 Bonds 2,815 — •1,525 Total bought outright \J 55,543 +3|596 Held under repurchase agreements - 570 + 147 147 Total U. S. Government securities - 570 55;690 Total loans and securities 56,707 - .466 +4,210 Cash items in process of collection (2,321) 8,623 -1,635 + 5 Bank premises 117 + 4 Other assets 2/ 1-685 + 230 - 912 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,310) 78.670 -1,865 +1*528 L I A B I L I T I ES Federal Reserve notes (989) 45,818 13 +2,779 Deposits: Member bank reserves 21,980 -1,004 + 44 U. S. Treasurer--general account 900 + 28 + 285 Foreign 228 + 41 + 118 Other V 837 + 64 + 345 Total deposits 23,945 - 871 + 792 Deferred availability cash items (2,321) 6,782 -1,041 + 756 Other liabilities and accrued dividends 539 - 35 + 145 TOTAL LIABILITIES (3,310) 77,084 -1,934 +4,472 C A P I T AL A C C O U N TS Capital paid in 679 + 2 + 41 Surplus 669 aa«k + 39 Other capital accounts 238 + 67 + 36 Contingent liability on acceptances purchased for foreign correspondents 150 + 1 + 50 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $26 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. j2/ Includes assets denominated in foreign currencies and IMF gold deposited. V Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. FEBRUARY 25, 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 820 42 3,094 -817 16 days to 90 days 53 43 21,371 +364 91 days to 1 year — — 9,589 -169 Over 1 year to 5 year*ss — 14,130 -- Over 5 years to 10 yetaarrss — 6,953 -- Over 10 years —_ 612 ~ Total 873 85 55,749 -622 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 25, 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 11,045 393 3,091 620 805 871 535 2,248 398 112 413 278 1,281 Special Drawing Rights certif. acct. 300 17 70 17 25 27 16 53 11 5 11 11 37 F. R. notes of other banks 989 102 218 56 90 73 141 49 25 18 41 46 130 Other cash 193 8 27 8 19 14 25 25 12 5 11 12 27 Discounts and advances 873 69 240 15 31 117 43 89 45 22 93 39 70 Acceptances: Bought outright 60 «... 60 -. -._ -- _-. .. — - ... __ -• -- Held under repurchase agreements 25 _«. 25 «. — __ «. «. «. — _ — —— — — __ __ __. Federal Agency obligations— Held under repurchase agreements _ 59 59 U. S. Government securities: Bought outright— Bills 20,655 1,023 5,181 1,058 1,624 1,521 1,100 3,410 762 411 779 880 2,906 Certificates -- _ . _ _ •- «• —— __ Notes 32,073 1,589 8,046 1,642 2,521 2,362 1,707 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 \j 55,543 2,752 13,933 2,844 4,366 4,090 2,957 9,170 2,050 1,105 2,094 2 ,367 7,815 Held under repurchase agreements ~~ 147 -- 147 -- -- -- -- -_ -- -- -- -- -- Total U. S. Government securities 55,690 2,752 14,080 2,844 4,366 4,090 2,957 9,170 2,050 1,105 2,094 2 ,367 7,815 Total loans and securities 56,707 2,821 14,464 2,859 4,397 4,207 3,000 9,259 2,095 1,127 2,187 2 ,406 7,885 10,944 583 1,929 626 745 777 973 1,967 563 389 795 652 945 Cash items in process of collection 117 2 9 2 7 11 18 17 10 6 18 8 9 Bank premises 1,685 87 586 78 137 86 88 218 50 32 58 75 190 fu\ 4t*1*n* ^e%v^rM» *ma «•s* *s« ^*ev ^t *sm £I_ // —i TOTAL ASSETS 81,980 4,013 20,394 4,266 6,225 6,066 4,796 13,836 3,164 1,694 3,534 3 ,488 10,504 ±J Includes $26 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 27 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 25, 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) Federal Reserve notes 46,807 2,686 11,028 2,649 3,840 4,210 2,493 8,200 1,760 805 1,725 1,683 5,728 Deposits: Member bank reserves 21,980 655 6,194 851 1,463 1,009 1,336 3,533 772 491 948 1,140 3,588 U. S. Treasurer—general account 900 72 241 43 49 91 65 44 44 40 46 88 77 Foreign 228 11 1/ 66 11 20 11 14 33 7 5 9 12 29 Other 837 1 2/764 9 1 13 4 12 3 4 7 3 16 Total deposits 23,945 739 7,265 914 1,533 1,124 1,419 3,622 826 540 1,010 1,243 3,710 Deferred availability cash items 9,103 487 1,538 597 672 608 757 1,691 505 303 713 455 777 Other liabilities and accrued dividends 539 26 139 26 42 38 28 85 19 12 20 22 82 TOTAL LIABILITIES 80,394 3,938 19,970 4,186 6,087 5,980 4,697 13,598 3,110 1,660 3,468 3,403 10,297 CAPITAL ACCOUNTS Capital paid in 679 32 182 34 60 35 44 100 23 15 29 38 87 Surplus 669 32 177 34 60 34 43 99 23 15 28 37 87 Other capital accounts 238 11 65 12 18 17 12 39 8 4 9 10 33 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 81,980 4,013 20,394 4,266 6,225 6,066 4,796 13,836 3,164 1,694 3,534 3,488 10,504 Contingent liability on acee ptances purchased for forei gn correspondents 150 7 3/ 40 8 13 8 10 22 5 3 6___ 8 20 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,814 11,611 2,742 4,098 4,344 2,697 8,499 1,840 832 1,802 1,823 6,068 Collateral for F. R. notes: Gold certificate account 180 500 300 510 545 1,000 155 27 — 5 U. S. Government securities 2.667 11.400 2.620 3.750 3.860 2.850 7.950 1.780 835 1.875 1.930 6.500 Total collateral 2,847 11,900 2,920 4,260 4,405 2,850 8,950 1,935 862 1,875 1,935 6,500 JL/ After deducting $162 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $110 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis