H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Foctors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release April 23, 1970 The average of daily figures of total reserves of member banks in creased $128 million in the latest statement week to $28,359 million. Both required reserves and excess reserves increased while member bank borrowings declined. A greater than seasonal rise in float was the major factor supplying reserves in this latest week. A decline in other Federal Reserve liabilities and capital also supplied a significant amount of reserves. In part offsetting these sources of reserves was an increase in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $175 million in reserves (net) on a weekly average basis. Member bank borrowings exceeded excess reserves by $833 million compared to the revised figure of $953 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 22, April 15, April 23, April 22, and related items 197Q 197Q mi U2L Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright--Systera account 55,832 + 2 +3,563 k/55,580 Held under repurchase agreements 130 -134 - 93 473 Federal Agency obligations-- Held under repurchase agreements 13 - 14 25 Acceptances Bought outright 56 - 2 + 3 58 Held under repurchase agreements 14 - 26 - 42 65 Discounts and advances-- Member bank borrowings 971 - 49 - 164 1,259 Other 47 + 7 + 47 90 Float 3,553 +678 + 571 3,003 Other F. R. assets 2,231 + 42 - 618 2,254 Total Reserve Bank credit 62,847 +504 +3,261 62,807 Gold stock 11,367 — +1,000 11,367 Special Drawing Rights certif. acct. 400 -- + 400 400 Treasury currency outstanding 6,924 + 10 + 176 6,926 81,538 +514 +4,837 81,500 Currency in circulation 52,945 - 43 +3,264 52,947 Treasury cash holdings 567 -- - 145 570 Treasury deposits with F. R. Banks 1,158 +204 + 729 941 Foreign deposits with F. R. Banks 143 + 7 + 22 189 Other deposits with F. R. Banks 863 - 13 + 357 885 Other F. R. liabilities and capital 2„042 -119 + 174 2,070 Member bank reserves: 57,719 + 37 +4,402 57,602 With Federal Reserve Banks 23,819 +477 + 435 23,899 Currency and coin 4,540 -349 + 344 4,540 Total reserves held 28,359 +128 + 779 28,439 Required reserves 28,221 + 57 + 813 28,221 Excess reserves 138 + 71 - 34 1 218 NOTE: A net of $74 million of surplus reserves were eligible to be carried forward from the week ended April 15, into the week ending April 22. U Includes $20 million securities loaned — fully secured by U.S. Government securities pledged with Federal Reserve Banks. On April 22, 1970, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,328 million, a decrease of $17 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. 22 , Apr. 15, Apr. 23, 1970 1970 1969 A S S E TS Gold certificate account 11,045 — +1,021 Special Drawing Rights certif. accts. * 400 — + 400 Cash (731) 195 + 6 9 Discounts and advances 1,349 - 86 + 117 Acceptances: 58 --. + 6 Bought outright 65 - 7 + 15 Held under repurchase agreements Federal Agency obligations-- Held under repurchase agreements 25 35 25 U. S. Government securities : Bought outright— Bills 20,692 296 +2,809 Certi ficates Notes 32,073 +2,027 Bonds 2,815 -1.572 Total bought outright 1/ 55,580 296 +3,264 Held under repurchase agreements 473 29 + 473 Total U. S. Government securities 56^053 - 267 +3,737 Total loans and securities 57,550 - 381 +3,900 Cash items in process of collection (2,885) 11,301 - 195 +1,593 Bank premises 118 — + 4 Other assets 2/ 2.136 + 44 - 616 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,616) 82,745 - 526 +6,293 k I A H IL 1111L $ (731) 46,463 • 138 +2,981 Federal Reserve notes Deposits: 23,899 - 373 +1 ,697 Member bank reserves 941 + 72 + 192 U. S. Treasurer—general account Foreign 189 + 37 + 65 Other 3/ 885 - 41 + 430 Total deposits 25,914 - 305 +2, 384 Deferred availability cash items (2,885) 8,298 - 136 + 738 507 - 11 + 97 Other liabilities and accrued dividends (3,616) 81,182 - 590 +6 ,200 TOTAL LIABILITIES £ A £ I 1 ^ L A C C O U N TS Capital paid in 681 + 32 Surplus 669 + 39 Other capital accounts 213 + 64 + 22 Contingent liability on acceptances purchased for foreign correspondents 187 + 9 60 * Figures in parentheses are the eliminations made in the consoli dating process. J7 Includes $20 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. 37 Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. APRIL 22, 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 1,254 82 3,447 -TJ5 16 days to 90 days 45 41 21,246 -322 91 days to 1 year 50 9,844 +155 Over 1 year to 5 years 13,976 Over 5 years to 10 years 6,953 Over 10 years 612 Total 1,349 123 56,078 -302 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 22, 1970 San New Phila Cleve Rich St. Minne Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco 1 (In millions of dollars) A S S E TS Gold certificate account 11,045 791 1,558 470 723 892 665 2,113 278 138 310 600 2,507 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 731 ! 69 188 26 56 59 117 25 20 12 33 22 104 Other cash 195 9 26 8 21 12 26 26 12 7 12 11 25 Discounts and advances 1,349 76 464 40 9 46 65 216 15 44 48 50 276 Acceptances: Bought outright 58 -- 58 -- -- — -- -- -- -- -- -- -- Held under repurchase agreements 65 — 65 -- -- -- -- — — — -- -- -- Federal Agency obligations— Held under repurchase agreements 25 -- 25 -- -- U. S. Government securities: Bought outright— Bills 20,692 996 5,379 1,098 1,656 1,544 1,082 3,403 736 399 779 883 2,737 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/ ! 55,580 2,674 14,450 2,949 4,448 4,146 2,906 9,140 1,977 1,072 2,093 T, 372 7,353 Held under repurchase agreements 473 — 473 -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities 56,053 2,674 14,923 2,949 4,448 4,146 2,906 9,140 1.977 1,072 2,093 2 ^372~ 77353 Total loans and securities 57,550 2,750 15,535 2,989 4,457 4,192 2,971 9,356 1,992 1,116 2,141 2 ,422 7,629 Cash items in process of collection 14,186 873 2,522 995 1,096 1,046 1,385 2,115 679 481 1,042 706 1,246 Bank premises I 118 2 9 2 8 12 17 17 10 6 18 8 9 Other assets 2/ f 2,136 103 712 101 163 116 114 292 66 43 77 100 249 TOTAL ASSETS 86,361 4,620 20,643 4,614 6,557 6,365 5,317 14,014 3,072 1,810 3,648 3 ,883 11,818 \J Includes $20 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 22, 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 47,194 2,719 11,088 2,677 3,856 4,216 2,510 8,312 1,787 824 1,749 1,711 5,745 Deposits: Member bank reserves 23,899 744 6,286 1,056 1,626 1,147 1,430 3,579 675 526 1,007 1,356 4,467 U. S. Treasurer—general account 941 45 201 22 6 41 59 171 42 15 21 43 275 Foreign 189 9 1/ 57 9 16 9 12 27 6 4 7 10 23 Other 885 1 If 831 4 1 13 2 5 2 2 4 2 18 Total deposits 25,914 799 7,375 1,091 1,649 1,210 1,503 3,782 725 547 1,039 1,411 4,783 Deferred availability cash items 11,183 1,005 1,619 742 874 819 1,179 1,607 490 394 777 655 1,022 Other liabilities and accrued 507 24 143 25 40 36 25 79 17 11 18 22 67 dividends TOTAL LIABILITIES 84,798 4,547 20,225 4,535 6,419 6,281 5,217 13,780 3,019 1,776 3,583 3,799 11,617 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 213 9 59 11 17 15 12 35 7 4 8 9 27 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 86,361 4,620 20,643 4,614 6,557 6,365 5,317 14,014 3,072 1,810 3,648 3,883 11,818 Contingent liability on ace: eptances purchased for forei- gn correspondents 18711 9 3/ 49 10_ 17 10 12 28 6_ 4__ S_ io_ 24_ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,816 11,627 2,747 4,020 4,353 2,669 8,599 1,868 855 1,814 1,839 6,054 Collateral for F. R. notes: Gold certificate account 250 500 300 510 580 1,000 155 27 5 U. S.Government securities 2.600 11.400 2.620 3,750 3.860 2,800 7 r 950 l t 780 845 1.875 1.930 6.500 Total collateral 2,850 11,900 2,920 4,260 4,440 2,800 8,950 1,935 872 1,875 1,935 6,500 J7 After deducting $ 132 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $ 138 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis