H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release April 9, 1970 The average of daily figures of total reserves of member banks decreased $130 million in the latest statement week to $27,641 million. Required reserves increased while both excess reserves and member bank borrowings decreasedo A considerably greater than seasonal rise in float,due in part to recent transportation delays, was the major factor supplying reserves in this latest week. In addition, a significant amount of reserves were provided by a decline in Treasury deposits with Federal Reserve banks. These sources of reserves were in good part offset by a seasonal increase in currency in circulation and by System Open Market operations which absorbed $265 million in reserves net on a weekly average basis. These absorptions were through outright sales of Treasury bills, and a reduction in the level of repurchase agreements. Member bank borrowing exceeded excess reserves by $394 million compared to the revised figure of $640 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, April 8, April 1, April 9, April 8, and related items 1970 1970 1969 1970 (IrI millions of dollars Reserve Bank credit: U.S. Government securities- Bought outright—System account 55,674 - 40 +3,665 1/55,564 Held under repurchase agreements 50 -182 - 161 -- Special Certificates -- 96 -- Federal Agency obligations- Held under repurchase agreements 5 - 37 12 -- Acceptances- Bought outright 57 + 5 1- 5 58 Held under repurchase agreements 9 - 13 24 -- Discounts and advances- Member bank borrowings 496 -454 - 451 405 Other 40 — + 40 40 Float 3,400 +542 +1,122 2,825 Other F.R. assets 2,153 + 28 - 623 2,173 Total Reserve Bank credit 61,882 -150 +3,466 61,065 Gold Stock 11,367 -- +1,000 11,367 Special drawing rights certif.acct. 400 -- + 400 400 Treasury currency outstanding 6,907 + 5 + 166 6,912 80,556 -145 +5,032 79,744 Currency in circulation 52,718 +155 +2,952 52,958 Treasury cash holdings 576 + 2 - 134 577 Treasury deposits with F. R. Banks 1,156 -125 + 779 1,009 Foreign deposits with F.R. Banks 214 - 24 + 59 144 Other deposits with F.R. Banks 881 + 61 + 332 901 Other F.R. liabilities and capital 2,218 + 67 + 217 2,235 57,763 +135 +4,205 57,824 Member bank reserves: With Federal Reserve Banks 22,794 -279 + 828 21,920 Currency and coin 4,847 +149 + 214 4,847 Total reserves held 27,641 -130 +1,042 26,767 Required reserves 27,539 + 78 +1,165 27,539 Excess reserves 102 -208 - 123 - 772 NOTE: A net of $192 million of surp! -i a A forward from the week ended April 1, into the week ending April 8. ]V Includes $16 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On April 8, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,224 million, an increase of $113 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 April 8, April 1, April 9, 1970 1970 1969 A S S E TS Gold certificate account 11,045 -- +1,020 Special Drawing Rights certif. accts. * 400 — + 400 Cash (701) 190 + 3 15 Discounts and advances 445 - 168 - 213 Acceptances: Bought outright 58 Held under repurchase agreements 30 Federal Agency obligations— Held under repurchase agreements 34 U. S. Government securities Bought outright— Bills 20,676 221 +3 ,143 I Certificates - Special 519 - Other Notes 32,073 +2,027 Bonds 2,815 -1,572 Total bought outright 1/ 55,564 - 221 +3,079 Held under repurchase agreements - 216 Total U. S. Government securities 55,564 - £3.7 +3,Q79_ Total loans and securities 56,067 - 669 +2,872 Cash items in process of collection (2,302) 9,997 - 444 +1,259 Bank premises 118 + 2 + 4 Other assets 2) 2,055 + I_2_ - 6U TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,003) 79,ft72 zL •096 +4.923 kl A 1 III LI I £ I Federal Reserve notes (701) 46,491 + 243 +2,689 Deposits: Member bank reserves 21,920 916 + 178 U. S. Treasurer—general account 1,009 48 +1,002 Foreign 144 68 8 Other y 901 7 + 342 Total deposits 23, 974 -1,039 +1, 514 Deferred availability cash items (2,302) 7 ,172 - 350 + 512 Other liabilities and accrued dividends 511 - 14 + 82 TOTAL LIABILITIES (3,003) 78,148 •1,160 +4,797 C A P I T AL A C C O U N TS Capital paid in 681 — + 37 Surplus 669 — + 39 Othier capital accounts 374 + 64 + 50 Contingent liability on acceptances purchased for foreign correspondents 174 + 4 + 52 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $16 million securities loaned—fully secured by U.S. Government securitie 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, April ft, 1Q70 (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 398 17 2,500 -241 16 days to 90 days 47 41 22,019 -247 91 days to 1 year -- .. 9,504 + 17 Over 1 year to 5 yearsi -- 13,976 -- Over 5 years to 10 yeairrss -- 6,953 -- Over 10 years — -- 612 -- Total 44T 58 55,564 -471 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 APRIL 8, 1970 San New Phila Cleve Rich St Minne Kani sas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) A S S E TS Gold certificate account 11,045 512 2,625 627 762 1,015 663 1,714 383 217 380 409 1,738 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 701 77 180 23 56 49 124 20 18 12 30 24 88 Other cash 190 8 24 6 20 12 27 25 12 7 12 12 25 Discounts and advances 445 159 38 27 4 12 48 50 6 37 49 6 9 Acceptances: Bought outright 58 — 58 — — — -- — — — -- -- -- Held under repurchase agreements — — -- -- -- — -- -- -- -- -_ -_ __ Federal Agency obligations— Held under repurchase agreements ... __ ... ——. __ U. S. Government securities: Bought outright— Bills 20,676 995 5,376 1,098 1,654 1,542 1,081 3,401 735 399 778 882 2,735 Certificates -- _-. -.- _- -._. -- -_ — . ... __ «... «... .. _ Notes : 32,073 1 ,542 8,339 1,702 2,567 2,392 1,677 5,274 1 ,141 619 1 ,208 1 ,369 4,243 Bonds ! 2,815 136 732 149 225 210 147 463 100 54 106 120 373 Total bought outright 1/ 55,564 h~2"J o7T 14,447 2,949 4,446 4,144 2,905 9,138 ~~r7 97F~ 1,072 Tr usT" T Tmr 7,351 Held under repurchase agreements — -- — — — — — — — — — — Total U. S. Government securities 55,564 ~~2 grT 14,447 2,949 4,446 4,144 2,905 9,138 ~TJ 976~ 1,072 2 ^092~ 2 3n~ 7,351 Total loans and securities 56,067 2 ,832 14,543 2,976 4,450 4,156 2,953 9,188 I ,982 1,109 2 ,141 2 ,377 7,360 Cash items in process of collection I 12,299 756 2,315 684 849 909 1,143 1,979 576 451 800 673 1,164 Bank premises ! 118 2 9 3 7 12 17 17 10 6 18 8 9 Other assets 2J 2,055 99 692 99 158 111 110 278 63 38 75 94 238 TOTAL ASSETS 82,875 4 ,309 20,481 4,441 6,335 6,300 5,059 13,291 3., 059 1,847 3 ,471 3 ,611 10,671 i' Includes $16 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 APRIL 8, 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 47,192 2,698 11,084 2,663 3,856 4,233 2,522 8,305 1,785 820 1,754 1,706 5,766 Deposits: Member bank reserves 21,920 765 6,442 1,026 1,523 1,066 1,351 3,007 662 547 932 1,147 3,452 U. S. Treasurer—general account 1,009 71 108 55 48 116 83 54 62 49 61 88 214 Foreign 144 6 1/ 45 7 12 7 9 20 5 3 6 7 17 Other 901 1 2/ 841 6 1 12 4 7 1 1 5 3 19 Total deposits 23,974 843 7,436 1,094 1,584 1,201 1,447 3,088 730 600 1,004 1,245 3,702 Deferred availability cash items 9,474 662 1,370 571 704 733 957 1,554 467 379 623 547 907 Other liabilities and accrvl ed 511 24 133 26 41 38 26 83 18 11 19 22 70 dividends TOTAL LIABILITIES 81,151 4,227 20,023 4,354 6,185 6,205 4,952 13,030 3,000 1,810 3,400 3,520 10,445 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 374 18 99 19 29 26 19 62 13 7 14 16 52 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 82,875 4.309 20.481 4.441 6.335 6.300 5.059 13.291 3.059 1.847 3.471 3.611 10.671 Contingent liability on ace: eptances purchased for foreiL gn correspondents 174 8 3/ 46 9_ 15 9_ 11 26 6_ 4 7 10 23 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,804 11,608 2,728 4,017 4,355 2,686 8,540 1,861 852 1,810 1,818 6,054 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 \_l After deducting $ 99 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3/ After deducting $ 128 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis