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 '•"f*ALi@p Condition Statement of F.R. Banks H.4.1 For immediate release April 16, 1970 The average of daily figures of total reserves of member banks increased $535 million in the latest statement week to $28,224 million. Excess reserves declined while both required reserves and borrowings increased. A sizeable drain in float reflecting in part a decline of last week's build up in transportation float was the major factor draining reserves in the latest statement week. However, increases in currency in circulation also absorbed a significant amount of reserves. Offsetting some of these reserve drains was a decline in the Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations supplied $425 million in reserves (net) on a weekly average basis through repurchase agreements and outright purchases of Treasury bills. Member bank borrowings exceeded excess reserves by $960 million compared to the revised figure of $346 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank Credit, April 15, April 8, April 16, April 15, and related items 1970 1970 1239 1970 Reserve Bank credit: (In millions of dollars) U.S. Government securities- Bought outright—System account 55,830 + 156 +4,380 {l/ 55,876 Held under repurchase agreements 264 + 214 264 444 Special Certificates 723 Federal Agency obligations- Held under repurchase agreements 27 24 27 60 Acceptances- Bought outright 58 + 1 + 7 58 Held under repurchase agreements 40 + 31 + 40 58 Discounts and advances- Member bank borrowings 1,020 +• 524 + 261 1,395 Other 40 — + 40 40 Float 2,868 - 581 + 545 3,039 Other F.R. assets 2,189 + 36 - 618 2,210 Total Reserve Bank credit 62,335 + 404 +4 ,223 63,180 Gold Stock 11,367 -- +1 ,000 11,367 Special Drawing Rights certif . acct. 400 -- + 400 400 Treasury currency outstanding 6,914 + 7 + 168 6,922 81,017 + 412 +5 >722 81,869 Currency in circulation 52^988 + 270 +3 U25 53^086 Treasury cash holdings 567 - 9 - 137 570 Treasury deposits with F.R. Banks 954 - 202 + 946 869 Foreign deposits with F.R. Banks 136 - 78 + 10 152 Other deposits with F.R. Banks 876 - 5 + 362 926 Other F.R. liabilities and capital 2,161 - 57 + 224 2.Q17 57,682 - 81 +4,529 57,620 Member bank reserves: With Federal Reserve Banks 23,335 + 493 +1,263 24,249 Currency and coin 4,889 f 42 + 345 4,889 Total reserves held 28,224 + 535 +1,608 29,138 Required reserves 28,164 + 625 +1,692 28,164 Excess reserves 60 - 90 - 84 974 NOTE: A net of $119 million of surplus reserves were eligible to be carried forward from the week ended April 8, into the week ending April 15. 1/ Includes $8 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On April 15, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,345 million, an increase of $121 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 Apr. 15, Apr. 8, Apr. 16, 1970 1970 1969 A £ £ E T S. Gold certificate account 11,045 „ +1,021 Special Drawing Rights certif. accts. 400 — + 400 Cash (687) 189 - 1 16 Discounts and advances 1,435 + 990 + 513 Acceptances: Bought outright 58 --. + 6 Held under repurchase agreements 58 58 + 58 Federal Agency obligations- Held under repurchase agreements 60 •- 60 60 U. S. Government securities Bought outright- Bills 20,988 + 312 +4,141 Certificates - Special — -- - 627 - Other Notes 32,073 __ +2,027 Bonds 2,815 — -1,572 Total bought outright 1/ 55,876 + 312 +3,969 Held under repurchase agreements 444 + 444 + 444 Total U. S. Government securities 56,320 + 756 +4,413 Total loans and securities 57,931 +1 ,864 +5,050 Cash items in process of collection (2,637) 11,473 +1 ,456 + 644 Bank premises 118 __ + 4 Other assets 2/ 2,092 + 37 - 626 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,324) 83,248 +3 ,356 +6,477 Federal Reserve notes (687) 46,601 + 110 +2,907 Deposits: Member bank reserves 24,249 +2,309 +1,884 U. S. Treasurer—general account 869 - 140 + 862 Foreign 152 + 8 + 22 Other 3/ 926 + 25 + 398 Total deposits 26,196 +2,202 +3,166 Deferred availability cash items (2,637) 8,434 +1,262 + 195 Other liabilities and accrued dividends 518 + 7 + 119 TOTAL LIABILITIES (3,324) 81,749 .+3,581 +6,387 £ £ P i. T A L ^ £ £ H I !i + 37 Capital paid in 681 + 39 Surplus 669 + 14 Other capital accounts 149 - 225 Contingent liability on acceptances purchased for foreign correspondents 178 +4 + 53 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $8 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 7J Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 15, 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 1,391 76 3,582 +1,082 16 days to 90 days 44 40 21,568 - 451 91 days to 1 year -- -- 9,689 + 185 Over 1 year to 5 years -- 13,976 — Over 5 years to 10 yeairrss -- 6,953 — Over 10 years — — 612 — Total 1,435 116 56,380 + 816 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 15, 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 11,045 960 1,193 648 951 1,060 568 1,967 361 283 446 354 2,254 Special Drawing Rights certif. acct. 400 23 .93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 687 70 182 20 51 51 118 23 18 11 34 22 87 Other cash 189 9 25 8 20 11 26 23 12 7 12 11 25 Discounts and advances 1,435 59 774 3 4 16 54 173 15 38 18 129 152 Acceptances: Bought outright 58 — 58 — -- — — -- — — Held under repurchase agreements 58 58 — — — Federal Agency obligations— Held under repurchase agreements 60 60 U. S. Government securities: Bought outright— Bills 20,988 1,010 5,456 1 ,114 1,679 1,566 1,098 3,452 746 405 790 896 2,776 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/ 55,876 2,688 14,527 2 ,965 4,471 4,168 2,922 9,189 1 ,987 1,078 2 ,104 2 ,385 7,392 Held under repurchase agreements ~ 444 444 Total U. S. Government securities 56,320 2,688 14,971 2 ,965 4,471 4,168 2,922 9,189 1 ,987 1.078 2 ,104 2 .385 7.392 Total loans and securities 57,931 2,747 15,921 2 ,968 4,475 4,184 2,976 9,362 2 ,002 1,116 2 ,122 2 ,514 7,544 Cash items in process of collection 14,110 789 2,546 874 1,006 1,035 1,393 2,224 714 490 916 769 1,354 Bank premises 118 2 9 3 7 12 17 17 10 6 18 8 9 Other assets 2,/ 2,092 102 701 100 161 113 111 286 64 40 75 96 243 TOTAL ASSETS 86,572 4,702 20,670 4 ,644 6,704 6,502 5,231 13,972 3 ,196 1,960 3 ,638 3 ,788 11,565 1_/ Includes $8 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 15, 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 47,288 2,711 11,095 2,677 3,865 4,232 2,522 8,316 1,789 824 1,755 1,710 5,792 Deposits: Member bank reserves 24,249 1,115 6,422 1,093 1,760 1,185 1,379 3,479 759 635 998 1,272 4,152 U. S. Treasurer—general account 869 32 151 57 27 69 31 62 47 33 43 64 253 Foreign 152 7 17 42 8 13 8 10 22 5 3 6 8 20 Other 926 13 . 1 1 848 4 2 14 4 q 1 ? s 8 16 Total deposits 26,196 1,167 "" 7,463 1,162 1,802 1,276 1,424 3,572 812 673 1,052 1,352 4,441 Deferred availability cash items 11,071 730 1,568 702 864 877 1,163 1,779 526 418 750 624 1,070 Other liabilities and accril ed dividends 518 24 143 27 40 38 26 81 18 12 19 21 69 TOTAL LIABILITIES 85,073 4,632 20,269 4,568 6,571 6,423 5,135 13,748 3,145 1 ,927 3,576 3,707 11,372 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 149 6 L? R 12 10 8 25 5 3 5 6 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 86,572 4,702 20,670 4,644 6,704 6,50? 5,mi 13.972 3.196 1 .960 3.638 3.788 11.565 ' Contingent liability on ace: eptances purchased for forei• gn correspondents 178 9 :3 / 47 9 16 9 12 26 6_ 4 7 10 23 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 49,259 2,803 11,642 2,743 4,024 4,368 2,685 8,565 1,867 850 1,816 1,817 6,079 Collateral for F. R. notes: Gold certificate account 3,327 250 500 300 510 580 1,000 155 27 5 U. S. Government securities 47,900 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 51,227 2,850 11,900 2,920 4,260 4,440 2,800 8,950 1,935 862 1,875 1,935 6,500 1/ After deducting $ 110 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3/ After deducting $ 131 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis