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^URE**. Condition Statement of F.R. Banks H.4.1 For immediate release May 7, 1970. The average of daily figures of total reserves of member banks increased $580 million in the latest statement week to $28,582 million. Required and excess reserves increased while member bank borrowings declined. The major factors absorbing reserve s in the latest statement week were currency in circulation, Treasury d eposits with Federal Reserve Banks, and other Federal Reserve liabilities and capital. Together these factors absorbed over $550 million of reserve s. System Open Market operations supplied nearly $1.2 billion of reserves, on a weekly average basis, both through outright purchases of U.S. Government securities and through repurchase agreements. Member bank borrowings were well below the average of recent weeks and exceeded excess reserves by $445 million, compared to the revised figure of $917 million for the pre vious week. Averages iD f daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 6, April 29, May 7, May 6, and related items 1970 1970 1969 1970 Reserve Bank credit: (Int millions oi: dol lars) U.S. Government securities— Bought outright--Systera account 56,914 +1, 154 44, 324 1/57,490 Held under repurchase agreements 202 - 36 - 329 235 Federal Agency obligations— Held under repurchase agreements 62 43 11 132 Acceptances Bought outright 57 - 2 4- 5 58 Held under repurchase agreements 35 + 8 - 35 56 Discounts and advances-- Member bank borrowings 773 120 - 830 441 Other 90 -- 4- 90 90 Float 3,077 - 58 + 854 3,019 Other F. R. assets 2,228 - 39 - 668 2,090 Total Reserve Bank credit 63,439 4- 950 +3, 424 63,611 Gold stock 11,367 -- +1, 000 11,367 Special Drawing Rights certif. acct. 400 -- + 400 400 Treasury currency outstanding 6,949 4- 18 4- 220 6,952 82,154 4- 967 +5, 043 82,330 Currency in circulation 53,111 4- 294 +3, 465 53,463 Treasury cash holdings 557 - 2 - 152 552 Treasury deposits with F. R. Banks 1,513 4- 129 4- 922 1,323 Foreign deposits with F. R. Banks 192 + 34 4- 33 168 Other deposits with F. R. Banks 854 - 9 4- 396 869 Other F. R. liabilities and capital 2,243 + 133 + 241 2,297 58!470 + "379" 44"7 9U5" 5oV572- Member bank reserves: With Federal Reserve Banks 23,684 4- 389 4- 138 23,657 Currency and coin 4,898 + 191 4- 234 4,898 Total reserves held 28,582 + 580 4- 372 28,555 Required reserves 28,254 4- 228 4- 527 J 28,254 Excess reserves 328 + 352 " 155 301 NOTE: A net of $75 million of surplus reserves were eligible to be carried forward from the week ended April 29, into the week ending May 6. 1/ Includes $56 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. On May 6, 1970, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,252 million, a decrease of $88 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 May 6, April 29, May 7, 1970 1970 1969 A S S E TS Gold certificate account 11,045 +1,022 Special Drawing Rights certif. accts. * 400 + 400 Cash (622) 196 9 Discounts and advances 531 393 408 Acceptances: Bought outright 58 + 6 Held under repurchase agreements 56 + 56 + 12 Federal Agency obligations— Held under repurchase agreements 132 + 132 132 U. S. Government securities : Bought outright— Bills 22,602 +1,405 +4,419 Certificates Notes 32,073 — +2,027 Bonds 2,815 -- -1,572 Total bought outright 1/ 57,490 +1,405 +4,874 Held under repurchase agreements 235 + 235 + 69 Total U. S. Government securities 57,225 +1,640 +4,943 Total loans and securities 58,502 +1,435 +4,685 Cash items in process of collection (2,247) 10,368 + 70 +1,576 Bank premises 117 — + 3 Other assets 2/ 1,973 - 161 - 753 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,869) 82,601 +1,344 +6,924 k 1 A 1 Ik 11 Ik jS Federal Reserve notes (622) 46,938 + 410 +3,194 Deposits: Member bank reserves 23,657 +1,079 +1,500 U. S. Treasurer--general account 1,323 - 44 + 919 Foreign 168 - 56 + 7 Other 3/ 869 — + 427 Total deposits 26,017 + 979 +2,853 Deferred availability cash items (2,247) 7,349 - 204 + 597 Other liabilities and accrued dividends 600 + 92 + 173 TOTkl LIABILITIES (2,869) 80,904 +1,277 +6,817 £ A £ I T AL A C C O U N TS Capital paid in 682 + 30 Surplus 669 + 39 Other capital accounts 346 67 + 38 Contingent liability on acceptances purchased for foreign correspondents 210 + 16 78 * Figures in parentheses are the eliminations made in the consolidating process, JL/ Includes $56 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, MAY 6. 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 Weekl!y ccnhaai nges Within 15 days 435 71 14,904 TT7W 16 days to 90 days 94 43 9,865 -11,015 91 days to 1 year 2 11,547 + 1,245 Over 1 year to 5 years 13,976 Over 5 years to 10 years 6,953 Over 10 years 612 Total 531 114 57,857 + 1,772 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 MAY 6, 1970 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In mil1ions of dollars) A S S E TS Gold certificate account 11,045 488 2,517 694 1,005 1,009 552 2,163 408 247 443 287 1,232 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 622 64 165 20 50 42 96 18 16 11 31 22 87 Other cash 196 9 26 7 22 11 27 25 12 7 12 12 26 Discounts and advances 531 132 93 5 22 102 12 48 10 13 46 10 38 Acceptances: Bought outright 58 — 58 -- -- -- -- -- — -- — -- -- Held under repurchase agreements 56 — 56 — -- -- -- — -- -- -- -- -- Federal Agency obligations— Held under repurchase agreements 132 132 -- _. U. S. Government securities: Bought outright— Bills 22,602 1,130 5,708 1,147 1,736 1,674 1,220 3,699 797 433 833 984 3,241 Certificates ! __ — — — — -- -- -- — — — -- Notes 32,073 1,604 8,099 1,628 2,463 2,375 1,731 5,248 1,130 615 1,183 1 ,397 4,600 Bonds 2,815 141 711 143 216 208 152 461 99 54 104 122 404 Total bought outright \/ 57,490 2,875 14,518 2,918 4,415 4,257 3,103 9,408 2,026 1,102 2,120 2 ,503 8,245 Held under repurchase agreements "~ 235 -- 235 — — — -- — -- -- _- -- -- Total U. S. Government securities 57,725 2,875 14,753 2,918 4,415 4,257 3,103 9,408 2,026 1,102 2,120 2 ,503 8,245 Total loans and securities 58,502 3,007 15,092 2,923 4,437 4,359 3,115 9,456 2,036 1,115 2,166 2 ,513 8,283 : Cash items in process of collection 12,615 828 2,310 738 876 913 1,181 2,015 613 472 883 719 1,067 Bank premises 117 2 9 2 8 11 17 17 10 6 18 8 9 Other assets 2/ 1,973 99 661 96 145 111 104 269 60 36 69 87 236 TOTAL ASSETS 85,470 1 4,520 20,873 4,503 6,576 6,492 5,114 14,033 3,170 1,901 3,637 3 ,662 10,989 1/ Includes $56 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 MAY 6, 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) LIABI.L.IT.I.ES. Federal Reserve notes 47,560 2,738 11,152 2,685 3,864 4,257 2,538 8,347 1,810 831 1,779 1,728 5,831 Deposits: Member bank reserves 23,657 918 6,551 990 1,649 1,175 1,371 3,627 745 593 1,029 1,180 3,829 U. S. Treasurer--general account 1,323 46 339 95 92 141 101 94 57 48 93 96 121 Foreign 168 8 1/ 50 8 14 8 10 24 b 4 7 9 21 Other 869 2 2/785 5 6 13 7 19 4 2 5 2 19 Total deposits 26,017 974 7,725 1,098 1,761 1,337 1,489 3,764 811 647 1,134 1,287 3,990 Deferred availability cash items 9,596 699 1,379 606 758 761 950 1,572 471 374 633 532 861 Other liabilities and accrued 600 29 164 28 44 43 31 94 20 12 22 25 88 dividends TOTAL LIABILITIES 83,773 4,440 20,420 4,417 6,427 6,398 5,008 13,777 3,112 1,864 3,568 3,572 10,770 _ 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 346 16 94 18 28 25 18 56 12 7 12 15 45 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 85,470 4,520 20,873 4,503 6,576 6,492 5,114 14,033 3,170 1,901 3,637 3,662 10,989 Contingent liability on accept ances purchased for foreign correspondents 210 10 3/ 55 11 19 11 14 31 7 4 9 12 27 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 49,350 2,830 11,644 2,749 4,011 4,362 2,695 8,581 1,882 855 1,826 1,833 6,082 Collateral for F. R. notes: Gold certificate account 3,327 250 500 300 510 580 -- 1,000 155 27 -- 5 -- U. S. Government securities 47,910 2,600 11,400 2,620 3,750 3,860 2,800 7,950 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 \J After deducting $118 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3/ After deducting $155 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis