H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE ^Factors Affecting Bonk Reserves and Condition Statement of F.I. Banks H.4.1 For immediate release April 30, 1970. The average of daily figures of total reserves of member banks decreased $365 million in the latest statement week to $27,994 million. Required reserves, excess reserves and member bank borrowings all decreased in this latest period. A greater than seasonal decline in float and a rise in Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest.week. A seasonal decline in currency in circulation offset some of these reserve absorptions. In addition, System Open Market Operations supplied $58 million in reserves net on a weekly average basis. Included in this net supply of reserves by the System was a $127 increase in the average level of repurchase agreements held. Member bank borrowings exceeded excess reserves by $925 million compared to $833 million for the previous week. Averae' es of daily figures * Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 29, April 22, April 30, April 29, and related items 1970 1970 1969 1970 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 55,760 - 72 +3,211 1/56,085 Held under repurchase agreements 238 + 108 + 11 Federal Agency obligations— Held under repurchase agreements 19 6 57 «... Acceptances Bought outright 59 + 3 (- 8 58 Held under repurchase agreements 27 + 13 - 55 Discounts and advances-- Member bank borrowings 893 - 78 - 225 834 Other 90 + 43 + 90 90 Float 3,127 - 426 + 887 2,733 Other F. R. assets 2,267 + 36 - 667 2,251 Total Reserve Bank credit 62,480 367 +3 ,203 62,051 Gold stock 11,367 +1 ,000 11,367 Special Drawing Rights certif. acct. 400 + 400 400 Treasury currency outstanding 6,931 + + 189 6,934 81,178 - 360 +4,792 80,752 Currency in circulation 52,817 - 128 +3,310 53,024 Treasury cash holdings 559 8 - 139 564 Treasury deposits with F. R. Banks 1,384 + 226 + 759 1,367 Foreign deposits with F. R. Banks 158 15 + 39 224 Other deposits with F. R. Banks 863 + 394 869 Other F. R. liabilities and capital 2,110 + 68 + 181 2,138 Member bank reserves: 57,891 + 172 +4 ,544 58,186 With Federal Reserve Banks 23,287 - 532 + 249 22,566 Currency and coin 4,707 + 167 + 88 4,707 Total reserves held 27,994 - 365 + 337 27,273 Required reserves 28,026 - 195 + 454 28,026 Excess reserves 32 - 170 - 117 - 753 NOTE: A net of $81 million of surplus reserves were eligible to be carried forward from the week ended April 22, into the week ending April 29. 1/ Includes $34 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On April 29, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,340 million, an increase of $12 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. 29, Apr. 22 Apr. 30, s 1970 1970 1969 A S S E TS Gold certificate account 11,045 -- +1,022 Special Drawing Rights certif. accts. * 400 -- + 400 Cash (711) 196 + 1 8 Discounts and advances 924 - 425 -1,607 Acceptances: Bought outright 58 -- + 6 Held under repurchase agreements — 65 90 Federal Agency obligations-- Held under repurchase agreements 25 79 U. S. Government securities : Bought outright-- Bills 21,197 + 505 +3,045 Certificates Notes 32,073 +2,027 Bonds -1,572 Total bought outright 1/ 56,085 + 505 +3,500 Held under repurchase agreements - 473 - 528 Total U. S. Government securities 56,085 + 32 +2,972 Total loans and securities 57,067 483 +1,202 Cash items in process of collection (2,595) 10,286 -1, 038 + 374 Bank premises 117 - 1 + 2 Other assets 2/ 2,134 - 2 - 716 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3 306) 81,245 -1,523 +2,276 Federal Reserve notes (711) 46,528 .- 65 +3, 080 Deposits: Member bank reserves 22,566 -1,356 -1, 811 U. S. Treasurer—general account 1,367 + 426 + 417 Foreign 224 + 35 + 94 Other 3/ 869 - 16 + 411 Total deposits 25,026 - 911 - 889 Deferred availability cash items (2,595) 7,553 - 745 83 Other liabilities and accrued dividends 508 + 1 + 65_ TOTAL LIABILITIES (3,306) 79,615 -1,590 +2,173 C A P I T AL A C C O U N TS Capital paid in 682 1 + 32 Surplus 669 + 39 Other capital accounts 279 -t- 66 + 32 Contingent liability on acceptances purchased for foreign correspondents 194 + 7 + 69 * Figures in parentheses are the eliminations made in the consolidating process, \J 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. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 29, 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 828 15 3,362 - 85 16 days to 90 days 96 43 20,880 -366 91 days to 1 year 10,302 +458 Over 1 year to 5 years 13,976 -- Over 5 years to 10 years 6,953 -- Over 10 years 612 -- Total 924 58 56,085 + 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 29, 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, 045 881 2,012 470 822 1., 014 773 2,0 17 399 220 363 270 1., 804 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 711 70 186 25 58 51 110 26 19 10 30 24 102 Other cash 19b 9 25 7 21 12 27 26 12 7 12 13 25 Discounts and advances 924 67 149 32 47 90 45 126 8 47 40 128 145 Acceptances: Bought outright 58 -- 58 — -- -- -- -- — — — -- Held under repurchase agreements -- — — -- — — -- — — — — -- -- Federal Agency obligations— Held under repurchase agreements -- -- U. S. Government securities: Bought outright— Bills 21 ,197 1 ,020 5,511 1,125 1,696 1 ,581 1,108 3,, 486 754 409 798 905 2., 804 Certificates -- -- -- -- -- -- — — — -- — -- -- Notes 32 ,073 1 ,542 8,339 1,702 2,567 L. ,392 1,677 5.2 74 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/ 56 ,085 ~T ,698 14,582 2,976 4,488 4", 183 2,932 9", 223 "T, 995 TTTJBT 2,112 2"7 5W T 7T2U Held under repurchase agreen lents -- — — -- -- — — — — — — -- -- Total U. S. Government securit :ies ^""56", 085 r~2 ,698 14,582 2,976 4,488 4", 183 2,932 9~7 223"~ Tr 9"9T~ TTUBT— 2,112 2"T WT T7 T2T5 Total loans and securities 57 ,067 2 ,765 14,789 3,008 4,535 4 ^273" 2,977 T riw ~TJ XFT lTTTT— 2,152 2"~ ^TT T; 363 Cash items in process of collection 12 ,881 852 2,106 812 869 922 1,268 2 ,002 617 445 1,040 191 l ,151 Bank premises 117 2 9 2 8 11 17 17 10 6 18 8 9 Other assets 2/ 2 ,134 104 707 104 163 118 113 290 65 42 76 106 246 TOTAL ASSETS 84 ,551 4 ,706 19,927 4,451 6,509 6 ,437 5,307 13 ,797 3 ,140 1,866 3,706 3 ,754 10 ,951 1/ Includes $34 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks, Hi 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 29, 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 47,239 2,723 11,093 2,673 3,855 4,238 2,508 8,305 1,794 824 1,761 1,718 5,747 Deposits: Member bank reserves 22,566 1,063 5,542 946 1,625 1,132 1,474 3,428 743 588 951 1,240 3,834 U. S. Treasurer—general account 1,367 98 305 75 86 144 77 168 59 29 88 92 146 Foreign 224 9 1/ 80 10 17 10 13 29 7 4 8 11 26 Other 869 1 2/ 810 3 1 11 3 17 1 s 0 17 Total deposits 25,026 1,171 6,737 1,034 1,729 1,297 1,567 3,637 810 624 1,052 1,345 4,023 Deferred availability cash items 10,148 711 1,528 635 742 775 1,103 1,530 463 370 807 583 901 Other liabilities and accrtl ed 508 24 133 26 40 38 26 80 18 13 19 21 70 dividends TOTAL LIABILITIES 82,921 4,629 19,491 4,368 6,366 6,348 5,204 13,552 3,085 1,831 3,639 3,667 10,741 CAPITAL ACCOUNTS Capital paid in 682 32 182 34 61 35 45 101 23 15 29 38 87 Surplus 669 32 177 34 60 34 43 99 23 15 28 37 87 Other capital accounts \ 279 13 77 15 22 20 15 45 9 5 10 12 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ! 84,551 4,706 19,927 4,451 6,509 6,437 5.307 13,797 3.140 1.866 3.706 3.754 10.951 -—• Contingent liability on ace: eptances purchased for fore]L gn correspondents 194 9.3 / 51 10 17 10 13 22. 7_ 4__ S_ LL 2*. FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 49,221 2,820 11,614 2,741 4,006 4,364 2,680 8,581 1,878 854 1,823 1,830 6,030 Collateral for F. R. notes: Gold certificate account 3,327 250 500 300 510 580 1,000 155 27 5 Eligible paper U. S. Government securities 47,910 2.600 11,400 2.620 3.750 3.860 2.800 7.95Q 1,780 845_ 1.875. 1,930 6.500 Total collateral 51,237 2,850 11,900 2,920 4,260 4,440 2,800 8,950 1,935 872 1,875 1,935 6,500 1/ After deducting $ 144 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $ 143 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis