H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Afftctiiig Bank Rtstrvts aid Condition Stoftmont of F.R. Banks For immediate release March 5, 1970 The average of daily figures of total reserves of member banks decreased $136 million in the latest statment week to $27,414 million. Required reserves and excess reserves* also declined in this latest period. Other Federal Reserve assets was the only factor supplying a significant amount of reserves in the latest week. A seasonal decline in float was a major it torabsorbing reserves. In addition, System Open Market operations absorbed $95 mi^ r*n in reserves (net) on a weekly average basis. Member bank borrowings decreased tor the second successive week and exceeded excess reserves by $694 million compared to revised figure of $918 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, March 4, Feb. 25, March 5, March 4, and related items 1970 1970 1969 1970 Reserve Bank credit: (In millions of dollars) U.S. Government securities- Bought outright--Systera account 55,700 + 213 +3,645 1/2/55,064 Held under repurchase agreements 226 - 103 Federal Agency obligations— Held under repurchase agreements 56 10 Acceptances Bought outright 57 • 3 + 6 56 Held under repurchase ap^vc^ient s — - 23 - 17 Discounts and advances- - Member bank borrowir^s 833 _ 231 + 99 411 Other 40 + 28 + 40 40 Float 2,360 - 146 - 180 2,457 Other F. P. assets 1,988 + 223 - 664 2,007 Total >:^serve Bank credit 60,977 - 222 +2,814 60,035 Gold sfc-K 11,367 — +1,000 11,367 Spec VI Drawing Rights certif. acct. 300 — + 300 300 T, aasury currency outstanding 6,885 + 12 + 72 6,886 79,529 - 210 +4,186 78,588 Currency in circulation 52,104 + 24 +2,947 52,223 Treasury cash holdings 595 - 5 - 163 594 Treasury deposits with F. R. Banks 1,005 - 80 + 474 1,058 Foreign deposits with F. R. Banks 267 + 71 + 142 174 Other deposits with F. R. Banks 770 + 11 + 289 764 Other F. R. liabilities and capital 2,173 + 73 + 239 2,204 Member bank reserves: 56,914 + 94 +3,928 57,017 With Federal Reserve Banks 22,615 - 304 + 258 21,571 Currency and coin 4,799 + 168 + 171 4,799 Total reserves held 27,414 - 136 + 429 26,370 Required reserves 27,275 - 129 + 497 27,275 Excess reserves 139 - 7 - 68 - 905 NOTE: A net of $140 million of surplus reserves were eligible to be carried forward from the week ended February 25, into the week ending March 4. 1/ Reflects $700 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. If Includes $64 Billion securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On March 4, 1970, D. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,614 Million, an increase of $559 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) Change since Wednesday Mar. 4, Feb. 25, Mar. 5, 197Q 1970 A S S E TS Gold certificate account 11,045 — + 1,020 Special Drawing Rights certif. accts. * 300 — . + 300 Cash (952) 207 14 - 23 Discounts and advances 451 422 - 295 Acceptances: Bought outright 56 4 4. 5 Held under repurchase agreements 25 -- Federal Agency obligations-- Held under repurchase agreements 59 U. S. Government securities : Bought outright— Bills 20,176 479 + 2,366 Certificates Notes 32,073 + 2,147 Bonds 2,815 1,525 Total bought outright 1/ 2/ 55,064 - 479 + 2,988 Held under repurchase agreements _ 147 Total U. S. Government securities 55.Q64 . 626 + 2.Q88 Total loans and securities 55,571 - 1,136 + 2,698 Cash items in process of collection (2,559) 9,945 + 1,323 + 527 Bank premises 116 - 1 + 2 Other assets 3/ + 206 fi7D 1.891 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,511) 79,075 + LD£L + 3.8^4 L I A B I L I T I ES Federal Reserve notes (952) 45,816 2 + 2,631 Deposits: Member bank reserves 21,571 - 408 _ 713 U. S. Treasurer—general account 1,058 + 158 + 703 Foreign 174 54 + 25 — Other 4/ 764 - 73 + 266 Total deposits 23,567 - 377 + 281 Deferred availability cash items ,559) 7,488 + 706 + 683 Other liabilities and accrued dividends 552 + 13 + 130 TOTAL LIABILITIES ,511) 77,423 + 340 + 3,725 £ A P I. T A L A C C O U N TS Capital paid in-" 679 + 42 MSB Surplus 669 + 39 Other capital accounts 304 + 66 + 48 Contingent liability on acceptances purchased for foreign correspondents 159 + 9 + 60 * Figures in parentheses are the eliminations made in the consolidating process, _1/ Reflects $700 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2^1 Includes $64 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 3J Includes assets denominated in foreign currencies and IMF gold deposited. 4/ Includes IMF gold deposit. . MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 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 Wl — T i r— 1,627 -1,467 16 days to 90 days 49 36 22,079 + 708 91 days to 1 year — 9,663 + 74 Over 1 year to 5 years — 14,130 -- Over 5 years to 10 years — 6,953 _•- Over 10 year8 — — 612 — Total 451 56 55,064 685 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 MARCH 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 dollars) A S S E TS Gold certificate account 11,045 769 3,132 479 835 1,200 589 1,853 362 201 309 295 1,021 Special Drawing Rights certif. acct. 300 17 70 17 25 27 16 53 11 5 11 11 37 F. R. notes of other banks 952 99 227 50 91 67 141 44 21 17 37 37 121 Other cash 207 8 27 8 19 13 25 36 12 6 11 13 29 Discounts and advances 451 31 86 3 17 48 22 92 29 10 49 15 49 Acceptances: Bought outright 56 56 Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outright— Bills 20,176 993 5,053 1,039 1 ,603 1,470 1,074 3,344 729 416 770 874 2,811 Certificates Notes 32,073 1 ,578 8,033 1,652 2 ,548 2,338 1,708 5,315 1,159 661 1 ,224 1 ,389 4,468 Bonds 2,815 138 705 145 224 205 150 467 102 58 107 122 392 Total bought outright 1/ 2/ 55,064 2 ,709 13,791 2,836 4 ,375 4,013 2,932 9,126 1,990 1 ,135 2 ,101 2 ,385 6,671 Held under repurchase agreements- — Total U\__S_^__ Government securi ties 55,064 2 ,709 13,791 2,836 4 ,375 4,013 2,932 9,126 1,990 1 , 135 . 2 iIPJL 2 .385 7.671 Total loans and securities 55,571 i2 ,740 13,933 2,839 4 ,392 4,061 2,954 9,218 2,019 1 ,145 2 ,150 2 ,400 7,720 Cash items in process of collection ,1 2,504 j 746 2,142 697 881 938 1,208 2,021 652 472 880 738 1,129 Bank premises 116 2 9 2 7 11 17 17 10 6 18 8 9 Other assets 3_/ 1,891 92 643 91 149 99 102 249 57 37 67 87 218 TOTAL ASSETS 82,586 4 ,473 20,183 4,183 6 ,399 6,416 5,052 13,491 3,144 1 ,889 3 ,483 3 ,589 10,284 JL/ Reflects $700 million of securities sold and scheduled to be bought back, under matched sales- purchase transactions. 2,/ Includes $64 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

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 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 46,768 2,683 10,992 2,642 3,830 4,212 2,498 8,204 1,762 805 1,727 1,688 5,725 Deposits: Member bank reserves 21,571 939 6,256 776 1,501 1,093 1,345 3,115 727 594 867 1,131 3,227 U. S. Treasurer—general account 1,058 70 97 81 77 170 83 132 80 46 78 71 73 Foreign 174 8 1/ 53 8 15 8 11 24 6 4 7 9 21 Other ! 764 1 2/704 1 1 IS 9 1 l 6 1 17 Total deposits 23,567 1,018 7,110 868 1,594 1,286 1,442 3,280 814 645 958 1,214 3,338 Deferred availability cash items 10,047 667 1,500 561 789 785 981 1,669 493 391 708 576 927 Other liabilities and accrued dividends 552 26 141 29 43 43 28 89 19 12 22 23 77 TOTAL LIABILITIES 80,934 4,394 19,743 4,100 6,256 6,326 4,949 13,242 3,088 1,853 3,415 3,501 10,067 CAPITAL ACCOUNTS Capital paid in | 679 32 182 34 60 35 44 100 23 15 29 38 87 Surplus i 669 32 177 34 60 34 43 99 23 15 28 37 07 Other capital accounts 304 15 81 15 23 21 16 50 10 6 11 43 TOTAL LIABILITIES AND 82,586 4,473 20,183 4,183 6,399 6,416 5,052 13,4'M 3,144 1,889 3,483 3,589 10,284 CAPITAL ACCOUNTS Contingent liability on ace: eptances purchased for forei gn 159 8 3/ 42 8 14 8 10 23 5 4 7 9 21 correspondents FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 49,049 2,811 11,603 2,732 4,082 4,339 2,685 8,481 1,830 835 1,805 1,811 6,035 Collateral for F. R. notes: Gold certificate account 3,222 180 500 300 510 545 1,000 155 27 5 U. S. Government securities 48,000 2,650 11,400 2,620 3,750 3,860 2,850 7,950 1,780 835 1,875 1,930 6,500 Total collateral 51,222 2,830 11,900 2,920 4,260 4,405 2,850 8,950 1,935 862 1,875 1,935 6,500 JL/ After deducting $121 million participations of other Federal Reserve Banks. 2J Includes IMF gold deposit. 3/ After deducting $117 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis