H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE ^Factors Affecting Boik Rtstrvit aid '••f^Au^f. Condition Stattmtit of F.l. Banks H.4.1 For immediate release May 14, 1970 The average of daily figures of total reserves of member banks decreased $830 million in the latest statement week to $27,752 million. Required reserves and excess reserves also decreased while member bank borrowings increased. Several factors were significant in absorbing reserves in the latest week. The most important of these were a greater than seasonal rise in currency in circulation and an increase in Treasury deposits with Federal Reserve Banks. Declines in float and other Federal Reserve assets drained additional amounti of reserves. System Open Market operations supplied a moderate amount of reserves net, on a weekly average basis. Member bank borrowings exceeded excess reserves by $790 million compared with the revised figure of $428 million for the previous week. Aver atse s of dally figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 13, May 6, 1 May 14, May 13, and related items 1970 1970 1 19J9 1970 Reserve Bank credit: (I*i millionso f dollars) U.S. Government securities-- Bought outright—System account 57,311 + 397 +4,655 -/57,185 Held under repurchase agreements - 202 - 583 «• «• am mm Federal Agency obligations— Held under repurchase agreements -- 62 69 •• •» Acceptances Bought outright 54 3 + 3 54 Held under repurchase agreements - 35 - 74 Discounts and advances-- Member bank borrowings 813 + 40 - 358 760 Other 90 -- + 90 90 Float 2,935 - 142 + 832 2,757 Other F. R. assets 2,098 130 -1,048 2,108 Total Reserve Bank credit 63,301 ~T3S +3',448 62!954 Gold stock 11,367 — +1,000 11,367 Special Drawing Rights certif. acct. 400 -- + 400 400 Treasury currency outstanding 6,959 + 10 + 225 6,966 82,028 - 126 +5,074 81,687 Currency in circulation 53,568 + 457 +3,609 53,725 Treasury cash holdings 545 - 12 - 144 549 Treasury deposits with F. R. Banks 1,726 + 213 +1,068 1,691 Foreign deposits with F. R. Banks 247 + 55 + 120 232 Other deposits with F. R. Banks 886 + 32 + 435 955 Other F. R. liabilities and capital 2,255 + 12 + 284 2,072 Member bank reserves: 59,227 + 757 +5,371 59,224 With Federal Reserve Banks 22,800 - 884 - 299 22,463 Currency and coin 4,952 + 54 + 245 4,952 Total reserves held 27,752 - 830 - 54 27,415 Required reserves 27,729 508 + 184 27,729 Excess reserves 23 - 322 - 238 - 314 NOTE: A net of $209 million of surplus reserves were eligible to be carried forward from the week ended May 6, into the week ending May 13. 1/ Includes $37 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. $185 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 13, May 6 j May 14, 1970 197Q 1969 A S S E TS Gold certificate account 11,045 +1,022 Special Drawing Rights certif. accts. 400 + 400 Cash (610) 197 + 1 6 Discounts and advances 850 + 319 + 290 Acceptances: Bought outright 54 4 + 2 Held under repurchase agreements 56 42 Federal Agency obligations-- Held under repurchase agreements • 132 U. S. Government securities : Bought outright— Bills 22,297 305 +5,224 Certificates Notes 32,073 +2,027 Bonds 2,815 -1.572 Total bought outright 1/ 57,185 305 +5,679 Held under repurchase agreements 235 - 166 Total U. S. Government securities 57,185 540 +5,513 Total loans and securities 58,089 - 413 +5,763 Cash items in process of collection (2,295) 10,286 - 101 + 409 Bank premises 118 + 1 + ' 4 Other assets 2_/ 1,990 + 17 -1,469 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,905) 82.125 _49_5_ +6.123 LI.A_BI_LI.TXES. Federal Reserve notes (610) 47,183 245 +3,296 Deposits: Member bank reserves 22,463 -1, 213 +1,604 U. S. Treasurer—general account 1,691 + 368 + 720 Foreign 232 + 64 + 117 Other _3/ 955 + 86 + 515 Total deposits 25,341 - 695 +2,956 Deferred availability cash items 2,295) 7,529 + 180 - 364 Other liabilities and accrued dividends 584 - 16 + 163 TOTAL LIABILITIES 2,905) 80,637 -~ •J8T +6,051 9. tl 11 b.h A C C O U N TS Capital paid in 682 _ _ + 29 Surplus 669 — + 39 Other capital accounts 137 - 209 + 4 Contingent liability on acceptances purchased 208 - 2 + 75 for foreign correspondents * Figures in parentheses are the eliminations' made in the consolidating process. j_/ Includes $37 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 13, 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 795 16 14,549 -355 16 days to 90 days 55 38 9,496 -369 91 days to 1 year -- -- 11,599 + 52 Over 1 year to 5 year • s s -- 13,976 — Over 5 years to 10 yexaarrss — 6,953 — Over 10 years — — 612 — Total 850 54 57,185 •672 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 HAY 13, 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 11,045 749 2,821 648 874 1,031 785 1,911 432 288 497 156 853 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 610 57 171 23 45 48 85 19 16 11 29 17 89 Other cash 197 9 26 7 23 11 27 26 12 7 12 11 26 Discounts and advances 850 149 110 33 86 93 35 168 10 21 33 68 44 Acceptances: Bought outright l 54 -- 54 -- — — — — -- — -- -- -- Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements -- t-» -- -- -- -- -- -- -- -- -- -- -- U. S. Government securities: Bought outright— Bills 22,297 1,115 5,630 1,131 1,712 1,652 1,204 3,649 786 427 822 971 3,198 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 1 2,815 141 711 143 216 208 152 461 99 54 104 122 404 Total bought outright 1/ 57,185 2,860 14,440 2,902 4,391 4,235 3,087 9,358~ T, 015 1,096 2,109 2 ,490 8,202 Held under repurchase agreements ""* — — -- -- — — — — -- -- — -- -- Total U. S. Government securities 57,185 2,860 14,440 2,902 4,391 4,235 3,087 9,358~ T, 015 1,096 2,109 2 ,490 8,202 Total loans and securities 58,089 3,0W 14,604 2,935 4,477 4,328 3,122 9,526~ T ^T23~ 1,117 2,142 r53F 8,246 T Cash items in process of collection 12,581 802 2,151 725 885 928 1,213 2,063 673 440 860 747 1,094 Bank premises 118 2 9 2 8 11 17 17 10 7 18 8 9 Other assets 2/ 1,990 98 668 95 147 112 105 272 61 35 69 89 239 TOTAL ASSETS 85,030 4,749 20,543 4,458 6,492 6,505 5,376 13,904 3 ,244 1,912 3,642 3 ,600 10,605 1/ Includes $37 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 13, 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 47,793. 2,752 11,184 2,715 3,888 4,270 2,557 8,388 1,818 838 1,786 1,742 5,855 Deposits: Member bank reserves 22,463 1,057 6,332 915 1,478 1,129 1,516 3,391 721 601 939 1,073 3,311 U. S. Treasurer—general account 1,691 101 224 124 162 164 136 199 105 49 129 109 189 Foreign 232 10 1/ 78 11 18 11 13 31 7 5 9 12 27 Other 955 9 7/820 8 8 16 8 34 12 4 16 2 18 Total deposits 25,341 1,177 7,454 1,058 1,666 1,320 1,673 3,655 845 659 1,093 1,196 3,545 Deferred availability cash items 9,824 721 1,365 582 762 794 1,019 1,548 510 370 680 556 917 Other liabilities and accrued dividends 584 29 144 28 44 42 31 92 20 12 21 25 96 TOTAL LIABILITIES 83,542 4,679 20,147 4,383 6,360 6,426 5,280 ]L 3,683 3,193 1,879 3,580 3,519 10,413 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 137 6 37 7 11 10 8 21 5 3 5 6 18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 85,030 4,749 20,543 4,458 6,492 6,505 5,376 13,904 3,244 1,912 3,642 3,600 10,605 Contingent liability on ace: eptances purchased for forei- gn correspondents 208 10 3/ 55 11 18 11 13 31 _7_ 4__ 9^ 12_ 27. FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,834 11,669 2,791 4,016 4,382 2,712 8,598 1,888 871 1,840 1,834 6,122 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 7,950 1,780 860 1,875 1,930 6,500 Total collateral 2,850 11,900 2,920 4,260 4,440 2,800 8,950 1,935 887 1,875 1,935 6,500 1/ After deducting $154 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $153 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis