H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 21, 1970 The average of daily figures of total reserves of member banks increased $276 million in the latest statement week to $28,028 million. Required reserves, excess reserves and member bank borrowings all increased. A decline in other Federal Reserve assets of $509 million was the major factor draining reserves in the latest week. A roughly equivalent amount of reserves was supplied through the combined effects of a rise in float and declines both in Treasury deposits with Federal Reserve Banks and in other Federal Reserve liabilities and capital. System Open Market operations supplied $143 million in reserves net, on a weekly average basis. Most of these reserves were provided through repurchase agreements. Member bank borrowings exceeded excess reserves by $1,064 million compared with $790 million for the previous week. Avera?j es of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 20, May 13, May 21, May 20, and related items 1970 1970 1969 1970 Reserve Bank credit: (Itt milli?cn s of: dollars) U.S. Government securities— Bought outright--System account 57,261 - 50 +4,388 1/ 57,370 Held under repurchase agreements 138 + 138 - 189 — Federal Agency obligations-- Held under repurchase agreements 36 + 36 42 — Acceptances Bought outright 53 - 1 + 3 50 ' Held under repurchase agreements 20 + 20 47 — Discounts and advances-- Member bank borrowings 1,182 + 369 - 176 446 Other 90 -- + 90 90 Float 3,115 + 180 + 717 2,777 Other F. R. assets 1,589 509 -1,298 1,368 Total Reserve Bank credit 63,484 +~ 183 +3,445 62,101 Gold stock 11,367 -- +1,000 11,367 Special Drawing Rights certif. acct. 400 -- + 400 400 Treasury currency outstanding 6,968 + 9 + 229 6,971 82,219 + 191 +5,074 80,839 Currency in circiilation 53,589 + 21 +3,621 53,603 Treasury cash holdings 542 - 3 - 141 551 Treasury deposits with F. R. Banks 1,431 - 295 + 903 742 Foreign deposits with F. R. Banks 203 - 44 + 72 141 Other deposits with F. R. Banks 854 - 32 + 421 813 Other F. R. liabilities and capital 2,132 - 123 + 235 2,153 Member bank reserves: 58,751 - 476 +5,112 58,003 With Federal Reserve Banks 23,468 + 668 - 38 22,836 Currency and coin 4,560 - 392 + 294 4,560 Total reserves held 28,028 + 276 + 256 27,396 Required reserves 27,910 + 181 + 254 27,910 Excess reserves 118 + 95 + 2 - 514 NOTE: A net of $78 million of surplus reserves were eligible to be carried forward from the week ended May 13, into the week ending May 20. 1/ Includes $49 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. On May 20, 1970, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,658 million, an increase of $221 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 21, May 20, 1970 1970 1969 A S S E TS Gold certificate account 11,045 +1,023 Special Drawing Rights certif. accts. 400 + 400 Cash (672) 200 + 3 3 Discounts and advances 536 - 314 - 567 Acceptances: Bought outright 50 + 3 Held under repurchase agreements 57 Federal Agency obligations-- Held under repurchase agreements 117 U. S. Government securities : Bought outright-- Bills 22,369 72 +3,829 Certificates Notes 32,165 + 92 +1,750 Bonds 2,836 + 21 -1,276 Total bought outright 1/ 57,370 185 +4,303 Held under repurchase agreements - 469 Total U. S. Government securities 57,370 + 185 +3,834 Total loans and securities 57,956 - 133 +3,096 Cash items in process of collection (2,804) 10,274 - 46 +1,298 Bank premises 118 — + 4 Other assets 2/ 1,250 - 740 -1,384 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (3,476) Sl|243 - 11(5 +4"!%4 LIABJ.LITJ.JES; Federal Reserve notes (672) 47,061 122 +3,219 Deposits: Member bank reserves 22,836 + 339 - 276 U. S. Treasurer--general account 742 - 949 + 360 Foreign 141 - 91 + 1 Other 3/ 813 - 142 + 393 Total deposits 24,532 - ""SSI + 478' Deferred availability cash items (2,804) 7,497 - 32 + 525 Other liabilities and accrued dividends 594 + 10 + 129 TOTAL LIABILITIES (3,476) 79,684 - 987 +4,351 C A P I T AL A C C O U N TS Capital paid in 684 2 + 31 Surplus 669 — + 39 Other capital accounts 206 69 + 13 Contingent liability on acceptances purchased •• for foreign correspondents 229 + 21 + 59 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $49 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 1) Includes assets denominated in foreign currencies and IMF gold deposited. 2_l Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 20, 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 481 17 , 3,414 -11,135 16 days to 90 days 55 33 9,632 + 136 91 days to 1 year -- _- 13,260 + 1,661 Over 1 year to 5 year•ss -- 25,179 +11,203 Over 5 years to 10 yseaarrss — 5,271 - 1,682 Over 10 years -_-_ -^ 614 + 2 Total 536 50 57,370 185 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 20, 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 11,045 538 2,831 643 943 1,025 597 1,944 377 217 393 378 1,159 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 672 60 183 27 49 57 94 22 21 11 32 18 98 Other cash 200 10 25 7 22 12 28 26 12 7 12 12 27 Discounts and advances ! 536 104 98 41 16 8 39 105 15 21 56 21 12 Acceptances: Bought outright 1 50 -- 50 -- — -- -- -- -- __ -- _ „, •» •» Held under repurchase agreements -- —** — -- -- -- -- __ __ _ _ «. « m. m. •» » Federal Agency obligations— Held under repurchase agreements — — — -- -- -- -- -- -- mm mm .. U. S. Government securities: Bought outright— Bills 22,369 1,119 5,649 1,136 1,718 1,656 1 ,208 3,660 788 429 824 974 3,208 Certificates " -- -- -- -- -- -. -- -- -- -- —— •• mm Notes 132,165 1,609 8.122 1,632 2,470 2,382 1 ,736 5,264 1,134 616 1,186 1 ,401 4,613 Bonds 1 2,836 142 716 144 218 210 153 464 100 54 105 123 407 Total bought outright \J 57,370 2,870 14,487 2,912 4,406 4,248T ,097 9,388 2,022 1,099 2,115 2 ,498 8,228 Held under repurchase agreements -- -- -- -- — -- -- — — -- -- -- • Total U. S. Government securities 57,370 2,870 14,487 2,912 4,406 4,248~ T, 097 9,388 2,022 1,099 2,115 2,, 498 8,228 Total loans and securities 57,956 2,974 14,635 2,953 4,422 4,256 3 ,136 9,493 2,037 1,120 2,171 2 ,519 8,240 Cash items in process of collection 13,078 813 2,247 766 992 936 1 ,237 2,285 631 469 846 720 1,136 Bank premises 118 2 9 2 8 11 17 17 10 7 18 8 9 Other assets 2) 1,250 59 467 52 85 59_ •60 146 33 2J^ 41 53 174 TOTAL ASSETS 84,719 \ 4,479 20,490 4,473 6,554 6,392 5 ,191 14,003 3,136 1,859 3,528 3 ,722 10,892 1/ Includes $49 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 20, 1970 San New Phila Cleve Rich St. Minne Kansas Total Bos ton 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 47,733 2,750 11,190 2,720 3,888 4,257 2,544 8,385 1,815 839 1,780 1,740 5,825 Deposits: Member bank reserves 22,836 874 6,269 987 1,606 1,096 1,457 3,502 706 552 974 1,242 3,571 U. S. Treasurer—general account 742 32 119 31 38 96 45 31 37 26 24 51 212 Foreign 141 6 1/ 53 6 11 6 8 18 4 2 5 7 15 Other 813 1 2/757 2 1 16 3 5 2 3 4 2 17 Total deposits 24,532 913 7,198 1,026 1,656 1,214 1,513 3,556 749 583 1,007 1,302 3,815 Deferred availability cash items 10,301 713 1,535 620 828 794 1,003 1,734 499 391 655 570 959 Other liabilities and accril ed dividends 594 29 153 28 44 43 32 95 20 11 22 26 91 TOTAL LIABILITIES 83,160 4,405 20,076 4,394 6,416 6,308 5,092 13,770 3,083 1,824 3,464 3,638 10,690 CAPITAL ACCOUNTS Capital paid in 684 32 182 35 61 35 45 101 23 16 29 38 87 Surplus 669 ! 32 177 34 60 34 43 99 23 15 28 37 87 Other capital accounts 206 10 55 10 17 15 11 33 7 4 7 9 28 TOTAL LIABILITIES AND 84,719 '4,479 20,490 4,473 6,554 6,392 5,191 14,003 3,136 1,859 3,528 3,722 10,892 CAPITAL ACCOUNTS Contingent liability on ace: eptances purchased for forejL gn 229 11 3/ 60 12 20 12 15 34 8 5 9 13 30 correspondents FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 149,776 2,832 11,709 2,805 4,053 4,391 2,720 8,633 1,902 868 1,841 1,881 6,141 Collateral for F. R. notes: Gold certificate account 3,327 250 500 300 510 580 — 1,000 155 27 — 5 — U. S. Government securities 47,975 2,600 11,400 2,620 3,750 3,860 2,800 7,950 1,830 860 1,875 1,930 6,500 Total collateral 51,302 2,850 11,900 2,920 4,260 4,440 2,800 8,950 1,985 887 1,875 1,935 6,500 1/ After deducting $ 88 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $169 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis