H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.v£s££2&.v FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release March 26, 1970 The average of daily figures of total reserves of member banks decreased $174 million in the latest statement week to $27,444 million. Both required and excess reserves decreased while member bank borrowings increased in the latest statment week. A seasonal rise in float was the major factor supplying reserves in this latest week. This source of reserves was partially offset by a drain in reserves due to a rise in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $200 million in reserves net, on a weekly average basis, through outright sales and matched-sale purchases. Some repurchase agreements were made, however, at the end of the statement week. Member bank borrowings exceeded excess reserves by $871 million compared to $678 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, March 25, Mar en IB, March 2b, March 25, and related items 1970 1970 1969 1970 Reserve Bank credit: (Irt millions of: dollars) U.S. Government securities— Bought outright—System account 55,825 - 81 +3,924 1/55,532 Held under repurchase agreements 7 • 82 - 159 46 Federal Agency obligations— Held under repurchase agreements 6 31 8 43 Acceptances Bought outright 53 2 + 6 53 Held under repurchase agreements 3 - 5 24 23 Discounts and advances-- Member bank borrowings 936 + 119 28 1,554 Other 40 — + 40 40 Float 2,635 + 206 + 318 2,182 Other F. R. assets 2,089 + 20 - 799 2,101 Total Reserve Bank credit 61,595 + 144 +3,270 61,574 Gold stock 11,367 — +1,000 11,367 Special Drawing Rights certif. acct. 400 + 86 + 400 400 Treasury currency outstanding 6,894 + 6 + 73 6,900 80,255 + 235 +4,741 80,241 Currency in circulation 52,459 - 49 +2,988 52,553 Treasury cash holdings 573 + 4 - 148 581 Treasury deposits with F. R. Banks 1,223 + 161 + 608 1,479 Foreign deposits with F. R. Banks 187 - 28 + 22 194 Other deposits with F. R. Banks 792 + 47 + 356 815 Other F. R. liabilities and capital 2,089 + 49 + 230 2,106 Member bank reserves: 57,323 + 185 +4,056 57,728 With Federal Reserve Banks 22,933 + 51 + 686 22,513 Currency and coin 4,511 - 225 + 136 4,511 Total reserves held 27,444 - 174 + 822 27,024 Required reserves 27,379 - 100 +1,025 27,379 Excess reserves 65 - 74 - 203 - 355 NOTE: A net of $87 million of surplus reserves were eligible to be carried forward from the week ended March 18, into the week ending March 25. 17 Includes $34 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On March 25, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,191 million, an increase of $141 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 ^larch 25, March 18, March 26, 1970 1970 1969 A S S E TS Gold certificate account 11,045 +1,020 Special Drawing Rights certif. accts. 400 — + 400 Cash (800) 191 6 26 Discounts and advances 1,594 + 974 + 597 Acceptances: Bought outright 53 -- + 4 Held under repurchase agreements 23 5 2 Federal Agency obligations— Held under repurchase agreements 43 66 38 U. S. Government securities : Bought outright-- Bills 20,644 570 +3,172 Certificates Notes 32,073 -- +2,027 Bonds 2,815 -- -1.572 Total bought outright 1/ 55,532 - 570 +3,627 Held under repurchase agreements 46 - 190 59 Total U. S. Government securities 55,578 - 760 +3,568 Total loans and securities 57,291 + 143 +4,205 Cash items in process of collection (1,794)) 8,194 -2,026 - 290 Bank premises 116 1 + 3 Other assets 2/ 1,985 - 69 - 802 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,594)) 79,222 -1,959 +4,510 LIA B u n ns Federal Reserve notes (800) 46,103 25 +2,798 Deposits: Member bank reserves 22,513 - 993 + 447 U. S. Treasurer—general account 1,479 + 431 + 977 Foreign 194 + 14 + 57 Other 3/ 815 17 + 367 Total deposits 25,001 - 565 +1 ,848 Deferred availability cash items (1,794) 6,012 -1,413 - 364 Other liabilities and accrued dividends 513 22 + 114 TOTAL LIABILITIES (2,594) 77,629 •2,025 +4 ,396 £ A L I 1 ^ L A C C O U N T S) Capital paid in 681 + 40 Surplus 669 + 39 Other capital accounts 243 - 66 + 35 Contingent liability on acceptances purchased for foreign correspondents 172 h 7 + 52 * Figures in parentheses are the eliminations made in the consolidating process. JV Includes $34 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 2J Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 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 Disc ounts and Federal Agency obii gations advances Accept ances Holdings Wee]c ly changes Within 15 days i, 545 37 2,911 -340 16 days to 90 days 49 39 21,719 + 59 91 days to 1 year -- -- 9,450 -545 Over 1 year to 5 years -- -- 13,976 -- Over 5 years to 10 years -- — 6,953 Over 10 years — 612 -- Total i, 594 H 55,621 -826 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 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 mi11ions of dollars) £ i iIli Gold certificate account 11,045 589 3,277 744 927 1,081 611 1,817 329 41 393 414 822 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 800 80 201 30 65 61 124 29 21 11 33 33 112 Other cash 191 8 26 7 20 12 26 22 12 7 12 12 27 Discounts and advances 1,594 235 320 54 26 35 45 383 15 34 56 64 327" Acceptances: Bought outright 53 53 — — — — -- — — — — — — Held under repurchase agreements 23 __ 23 -- -- -- -- -- — -- -- -- T~ Federal Agency obligations— Held under repurchase agreements 43 43 -- -- — — — -- — — — — U. S. Government securities: Bought outright- Bills 20,644 1,016 5,170 1,063 1,640 1,505 1,099 3,421 746 426 788 894 2,876 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 j/ 55,532 ' 2,732 13,908 2,860 4,412 4,048 2,957 9,203 2,007 1,145 2,119 ~~2 ,405 7,736 Held under repurchase agreements ~ 46 — £6. — — — — — — — — — — Total D. S. Government securities 55,578 1 2,732 13,954 2,860 4.412 4.048 2.957 9.203 2,007 1.145 2,U9 ~2 .405 7.736 Total loans and securities 57,291 2,967 14,393 2,914 4,438 4,083 3,002 9,586 2,022 1,179 2,175 2 ,469 8,063 Cash items in process of collection 9,988 541 1,320 459 707 837 1,118 1,519 552 413 778 697 1,047 Bank premises 116 2 9 2 7 11 17 17 10 6 18 8 9 Other assets 2/ 1,985 97 670 90 152 104 107 269 61 38 72 91 234 TOTAL ASSETS 81,816 4,307 19,989 4,269 6,349 6,225 5,027 13,329 3,022 1,702 3,496 3 ,738 10,363 1/ Includes $34 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 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) L I A B I L I T I ES Federal Reserve notes 46,903 2,691 11,017 2,658 3,846 4,202 2,503 8,243 1,772 812 1,731 1,693 5,735 Deposits: Member bank reserves 22,513 956 6,154 1,038 1,553 1,097 1,417 3,412 693 502 948 1,329 3,414 U. S. Treasurer—general account 1,479 79 452 82 114 114 79 120 65 53 100 93 128 Foreign 194 9 1/ 58 10 17 9 12 27 6 4 8 10 24 Other 815 2 2/760 3 1 13 3 6 2 2 5 2 16 Total deposits 25,001 1,046 7,424 1,133 1,685 1,233 1,511 3,565 766 561 1,061 1,434 3,582 Deferred availability cash items 7,806 470 996 373 638 667 885 1,198 412 282 618 504 763 Other liabilities and accrvl ed dividends 513 25 128 25 40 37 27 84 18 12 20 22 75 TOTAL LIABILITIES 80,223 4,232 19,565 4,189 6,209 6,139 4,926 13,090 2,968 1,667 3,430 3,653 10,155 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 243 11 65 12 19 17 13 40 8 5 9 10 34 TOTAL LIABILITIES AND 81,816 4,307 19,989 4,269 6,349 6,225 5,027 13,329 3,022 1,702 3,496 3,738 10,363 CAPITAL ACCOUNTS Contingent liability on ace: eptances purchased for fore]Lg n correspondents 172 8 3/45 9^ _ 15 9 11 26_ 6 4 7 1(L 22 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,799 11,591 2,738 4,035 4,331 2,684 8,521 1,858 837 1,799 1,840 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 $136 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $127 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis