H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Afftcting Baik Rtstrvts and •f*»? Condition Statomtnt of F.R. Banks H.4.1 For immediate release March 19, 1970 The average of daily figures of total reserves of member banks increased $406 million in the latest statement week to $27,616 million. Both required reserves and excess reserves increased while member bank borrowings decreased in this latest period. A greater than seasonal rise in currency in circulation was the major factor absorbing reserves in the latest week. This absorption of reserves, however, was offset by a decline in other Federal Reserve liabilities and capital. System Open Market operations supplied $650 million in reserves net, on a weekly average basis, through outright purchases of Treasury bills and repurchase agree ments. Member bank borrowings exceeded excess reserves by $680 million compared to $892 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, March 18, March 11, March 19, March 18, and related items 1970 1970 A262 127^ Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 55,906 + 513 +3,907 -56,102 Held under repurchase agreements 89 + 89 88 236 Federal Agency obligations-- Held under repurchase agreements 37 37 + 25 109 Acceptances Bought outright 55 6 53 Held under repurchase agreements 8 28 28 Discounts and advances" Member bank borrowings 817 117 + 41 580 Other 40 + 40 40 Float 2,427 + 30 121 2,726 Other F. R. assets 2 ,069 + 56 724 2,171 Total Reserve Bank credit 61, 449 + 617 +3, 060 62,045 Gold stock 11, 367 +1, 000 11,367 Special Drawing Rights certif. acct. 314 + 14 + 314 400 Treasury currency outstanding 6 ,888 + 1 + 72 6,887 80,018 + 633 +4,445 80,699 Currency in circulation 52,508 + 189 +2,954 52,565 Treasury cash holdings 569 6 - 156 575 Treasury deposits with F. R. Banks 1,062 + 13 + 572 1,048 Foreign deposits with F. R. Banks 215 + 3 + 54 180 Other deposits with F. R. Banks Other F. R. liabilities and capital 745 + 31 + 259 832 2,040 193 + 225 2,062 Member bank reserves: 57,138 + 35 +3,907 57,262 With Federal Reserve Banks 22,880 + 597 + 538 23,437 Currency and coin 4,736 - 191 + 368 4,736 Total reserves held 27,616 + 406 + 906 28,173 Required reserves 27,479 + 311 + 854 27,479 Excess reserves 137 + 95 + 52 694 NOTE A net of $89 million of surplus reserves were eligible to be carfi ed forward from the week ended March 11, into the week ending March 18.' 1/ Includes $80 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On March 18, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,050 million, an increase of $135 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 March 18, March 11, March 19, 1970 1970 1969 A S S E TS Gold certificate account 11,045 +1 ,020 Special Drawing Rights certif. accts. 400 + 100 + 400 Cash (807) 197 + 1 - 24 Discounts and advances 620 + 125 - 211 Acceptances: Bought outright 53 + 4 Held under repurchase agreements 28 + 28 - 7 Federal Agency obligations— Held under repurchase agreements 109 + 109 109 U. S. Government securities : Bought outright— Bills 21,214 +1,180 +3,637 Certificates Notes 32,073 — +2,027 Bonds 2,815 -- -l 573 r Total bought outright 1/ 56,102 +1,180 +4,091 Held under repurchase agreements 236 + 236 + 236 Total U. S. Government securities 56,338 tEM +4T5Z7 Total loans and securities 57,148 +1,678 +4,222 Cash items in process of collection (2,757) 10,151 +1,190 + 703 Bank premises 117 + 1 + 3 Other assets 2J 2,054 + 136 - 641 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,564) 81,112 +3,106 +5.683 k I A 1 Ik I 1 IE S. Federal Reserve notes (807) 46,128 22 +2,732 Deposits: Member bank reserves 23,437 +2,846 +1,365 U. S. Treasurer--general account 1,048 - 125 + 496 Foreign 180 - 34 + 21 Other V 832 + 92 + 369 Total deposits 25,497 +2,779 +2, 251 Deferred availability cash items (2,757) 7,425 + 493 + 461 Other liabilities and accrued dividends 535 + 3 + 137 TOTAL LIABILITIES (3,564) 79,585 +3,297 +5, 581 £ A P J[ T A L A C C O U N TS Capital paid in 681 «. + 41 — Surplus 669 — + 39 Other capital accounts 177 191 + 22 Contingent liability on acceptances purchased for foreign correspondents 165 + 4 + 46 * Figures in parentheses are the eliminati ons made in the consolidating process, \J Includes $80 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, MARCH 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 575 49 3,251 +1,391 16 days to 90 days 45 32 21,660 85 91 days to 1 year 9,995 + 373 Over 1 year to 5 years 13,976 - 154 Over 5 years to 10 years 6,953 Over 10 years 612 Total 620 81 56,447 +1,525 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 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) A S S E TS Gold certificate account 11,045 756 2,545 672 944 1,054 506 1,957 462 257 332 432 1,128 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 807 86 214 32 65 60 124 28 19 12 36 29 102 Other cash 197 8 27 7 20 13 25 25 13 6 12 12 29 Discounts and advances 620 48 154 5 16 24 36 101 12 15 20 66 123 Acceptances: Bought outright 1 53 ~~ 53 -- -- -_ -- -- -- -- _• --. mmmrn Held under repurchase agreements ..- 28 ._ __ -_ -- __ -. .— Ma , ... _.. i 28 Federal Agency obligations— Held under repurchase agreements i 109 •>•• 109 __ _.» __ •>•> MM —- » mmmm mm ^ — , — U. S. Government securities: Bought outright— Bills 21,214 1,044 5,313 1,093 1,685 1,546 1 ,129 3,516 767 437 810 918 2,956 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/ 56 r J.Q2 ., 2 r 760 14,051 2 r 890 4,457 4,089 _2_ ,987 9,29fi 2,028 _L ,156 _2H r 141 2,, 429 7,816 Held under repurchase agreements 236 236 Total U. S. Government securities 56 r 338 2 f 760 14,287 2 r 890 4 r 457 4,089 2 ,987 9,298 2,028 _ _ _ x L , 156 _2H , 141 -JL ,429 7,816 Total loans and securities 57 r 148 2 r 808 14,631 2 r 895 4,473 4,113 3 ,023 9,399 2,040 ,171 _2H ,161 2, r 495 7,939 Cash items in process of collection 12,908 767 2,147 715 1,012 1,064 1 ,251 2,082 561 456 835 763 1,255 Bank premises 117 2 9 2 7 11 18 17 10 6 18 8 9 Other assets 2/ 2,054 95 759 93 150 103 105 26? 59 37 71 92 228 TOTAL ASSETS 84,676 4,545 20,425 4,439 6,704 6,454 5 ,074 13,840 3,179 1 ,952 3 ,480 3 ,845 10,739 1/ Includes $80 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 MARCH 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) L I A B I L I T I ES Federal Reserve notes 46,935 2,690 11,009 2,649 3,850 4,207 2,509 8,245 1,774 812 1,731 1,698 5,761 Deposits: Member bank reserves 23,437 984 6,412 1,017 1,762 1,156 1,348 3,487 754 647 923 1,399 3,548 U. S. Treasurer—general account 1,048 67 184 93 93 89 40 68 96 48 76 51 143 Foreign 180 9 1/ 43 10 17 10 12 27 6 4 8 10 24 Other 832 1 11 779 3 1 13 2 6 2 2 4 7 17 Total deposits 25,497 1,061 7,418 1,123 1,873 1,268 1,402 3,588 858 701 1,011 1,462 3,732 Deferred availability cash items 10,182 696 1,454 563 805 859 1,038 1,692 476 393 654 580 972 Other liabilities and accnt ed dividends 535 26 .137 27 41 39 28 87 19 12 21 22 76 TOTAL LIABILITIES 83,149 4,473 20,018 4,362 6,569 6,373 4,977 13,612 3,127 1,918 3,417 3,762 10,541 CAPITAL ACCOUNTS Capital paid in 681 32 182 34 61 35 45 100 23 15 29 38 87 Surplus 669 32 177 34 60 34 43 99 23 15 28 37 87 Other capital accounts 177 8 48 9 14 12 9 29 6 4 6 8 24 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 84.676 4.545 20.425 4.439 6.704 6.454 5.074 13.840 3.179 1.952 3.480 3.845 10.739 Contingent liability on ac:ee ptances purchased for forei- gn correspondents 165 8 3/ 44 8 1L. 8 11 24. 6_ 4 7 9 21 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,804 11,578 2,728 4,052 4,334 2,688 8,504 1,857 835 1,810 1,835 6,060 Collateral for F. R. notes: Gold certificate account 250 500 300 510 545 1,000 155 27 5 U. S. Government securities 2.600 11.400 2.620 3.750 3.860 2.800 7.950 1.780 835 1.875 1.930 6.500 Total collateral 2,850 11,900 2,920 4,260 4,405 2,800 8,950 1,935 862 1,875 1,935 6,500 1/ After deducting $ 137 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deductine $ 121 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis