H.4.1 Factors Affecting Reserve Balances of Depository Institutions

r&Sx&i: F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and Condition Statement of F.R. Bonks H.4.1 For immediate release May 28, 1970 The average of daily figures of total reserves of member banks decreased $784 million in the latest week to $27,300 million. Required reserves, excess reserves, and member bank borrowings all declined. A decrease in Treasury deposits with Federal Reserve Banks was the major source of reserves in this latest statement week. Reserves were absorbed by a seasonal decline in float and a decrease in other Federal Reserve assets. System Open Market operations absorbed $418 million in reserves, on a weekly basis. Member bank borrowings exceeded excess reserves by $907 million compared with the revised figure of $1,008 million for the previous week. Averages of daily figures Member bank reserves, Week endl ed Change from week ended Wednesday, Reserve Bank credit, May 27, May 20, May 28, May 27, and related items 1970 1970 1969 1970 Reserve Bank credit: (Iti millions of: dollars) U.S. Government securities— Bought outright—System account 57,040 - 221 +3,828 1/57,115 Held under repurchase agreements -- - 138 - 295 — Federal Agency obligations- Held under repurchase agreements — 36 99 -- Acceptances Bought outright 50 3 f 4 46 Held under repurchase agreements -- 20 57 — Discounts and advances- Member bank borrowings 931 251 - 372 888 Other 90 -_ + 90 90 Float 2,818 - 353 + 770 2,368 Other F. R. assets 1,294 - 295 -1,435 1,179 Total Reserve Bank credit 62,223 -1,317 +2,435 61,686 Gold stock 11,367 -- +1,000 11,367 Special Drawing Rights certif. acct. 400 -- + 400 400 Treasury currency outstanding 6,974 + 6 + 234 6,978 80,964 -1,311 +4,068 80,431 Currency in circulation 53,517 72 +3,484 53,739 Treasury cash holdings 538 4 - 142 532 Treasury deposits with F. R. Banks 1,265 - 166 + 861 1,305 Foreign deposits with F. R. Banks 119 84 4 109 Other deposits with F. R. Banks 804 50 + 362 813 Other F. R. liabilities and capital 2,199 + 67 + 227 2,227 Member bank reserves: 58,441 - 310 +4,788 58,725 With Federal Reserve Banks 22,523 -1,001 - 720 21,706 Currency and coin 4,777 + 217 + 291 4,777 Total reserves held 27,300 - 784 - 429 26,483 Required reserves 27,276 - 634 - 340 j 27,276 Excess reserves 24 - 150 - 89 - 793 NOTE: A net of $154 million of surplus reserves were eligible to be carried forward from the week ended May 20, into the week ending May 27. l_/ Includes $27 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On May 27, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,752 million, an increase of $94 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 BAHK£ (In millions of dollars) Wednesday I Change since May 27, May 20, May 28, 1970 197Q 1969 A S S E TS Gold certificate account 11,045 -- +1,023 Special Drawing Rights certif. accts. 400 -- + 400 * Cash (669) 205 + 5 + 10 Discounts and advances 978 + 442 - 671 Acceptances: Bought outright 46 4 1 Held under repurchase agreements -- -- - 50 Federal Agency obligations-- Held under repurchase agreements 73 U. S. Government securities : Bought outright— Bills 22,114 255 +3,415 Certificates Notes 32,165 +1 ,664 Bonds 2,836 -1 ,292 Total bought outright 1/ 57*115 T53" +3 ,787 Held under repurchase agreements - 108 Total U. S. Government securities - 255 .,_.1 *7? Total loans and securities + 183 +2 ,884 Cash items in process of collection (2,540) -1,232 + 953 Bank premises + 4 Other assets 2/ 189 -1, 355 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,209) -1,233 +3,919 k 1 A 1 III LI 1£ jS Federal Reserve notes (669) 47,176 115 +2,967 Deposits: Member bank reserves 21,706 -1,224 - 773 U. S. Treasurer--general account 1,305 + 563 + 869 Foreign 109 - 32 - 8 Other 3/ 813 -- + 389 Total deposits 23,933 - 693 + 477 Deferred availability cash items (2,540) 6,768 - 729 + 242 Other liabilities and accrued dividends 600 + 6 +' 138 TOTAL LIABILITIES (3,209) 78,477 -1,301 +3, 824 C A P I T AL A C C O U N TS Capital paid in 684 __ + 30 Surplus 669 -- + 39 Other capital accounts 274 + 68 + 26 Contingent liability on acceptances purchased for foreign correspondents 232 + 3 + 48 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $27 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 27. 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 879 31 3,061 -353 16 days to 90 days 99 15 9,550 - 82 91 days to 1 year 13,440 +180 Over 1 year to 5 years 25,179 Over 5 years to 10 years 5,271 Over 10 years 614 Total 978 46 57,115 -255 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 27, 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 11,045 762 2,355 692 1,139 1,071 632 2,024 468 312 405 260 925 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 669 58 189 26 49 50 99 25 19 13 30 15 96 Other cash 205 10 23 7 21 13 29 26 13 7 14 13 29 Discounts and advances 978 161 190 67 23 30 44 209 17 22 76 106 33 Acceptances: Bought outright j 46 — 46 •»«• — — — — — w -_ -- «... Held under repurchase agreements -- -_ -- -- -- -_ -_ __ __ __ •»•» ••a* —— Federal Agency obligations— Held under repurchase agreements -- — -- -- -- -- — -«• — -- — — ~ U. S. Government securities: Bought outright— Bills 22,114 1,106 5,585 1,123 1,698 1,638 1,194 3,618 779 424 815 963 3,171 Certificates — — — — — — — -- -- -_ ••«• • •• Notes 32,165 • 1,609 8,122 1,632 2,470 2,382 1,736 5,264 1 ,134 616 1,186 1 ,401 4,613 Bonds 2,836 142 716 144 218 210 153 464 100 54 105 123 407 Total bought outright 1/ 57,115 2,857 14,423 2,899 4,386 4,230 3,083 9,346~ ~2 ,013 1,094 2,106 2 ,487 8,191 Held under repurchase agreements — — — — — — — — — -- — -- • — Total U. S. Government securities 57,115 1 2,857 14,423 2,899 4,386 4,230 3,083 9,346~ ,013 1,094 2,106 2", 487 8,191 Total loans and securities 58,139 3,018 14,659 2,966 4,409 4,260 3,127 9,555 2., 030 1,116 2,182 2 ,593 8,224 Cash items in process of collection 11,676 737 2,103 662 810 862 1,112 1,906 553 422 811 722 976 Bank premises 118 2 9 2 8 11 17 17 10 7 18 8 9 Other assets 2/ 1,061 52 434 46 76 51 50 122 28 18 32 43 109 TOTAL ASSETS 83,313 4,662 19,865 4,424 6,545 6,354 5,088 13,745 3., 136 1,902 3,507 3 ,668 10,417 1/ Includes $27 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks, 7/ 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 27, 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 47,845 2,759 11,207 2,723 3,894 4,271 2,553 8,402 1,822 840 1,793 1,747 5,834 Deposits: Member bank reserves 21,706 782 5,722 985 1,638 1,108 1,403 3,316 748 592 929 1,180 3,303 U. S. Treasurer--general account 1,305 115 201 103 127 121 68 206 48 60 53 55 148 Foreign 109 5 1/ 28 6 10 6 7 16 4 2 5 6 14 Other 813 2 2/759 3 1 12 3 7 1 2 3 2 18 Total deposits 23,933 904 6,710 1,097 1,776 1,247 1,481 3,545 801 656 990 1,243 3,483 Deferred availability cash items 9,308 893 1,362 493 686 702 919 1,460 438 358 635 565 797 Other liabilities and accnl ed dividends 600 29 154 28 46 46 32 94 20 12 22 26 91 TOTAL LIABILITIES 81,686 4,585 19,433 4,341 6,402 6,266 4,985 13,501 3,081 1,866 3,440 3,581 10,205 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 274 13 73 14 22 19 15 44 9 5 10 12 38 TOTAL LIABILITIES AND 83,313 4,662 19,865 4,424 6,545 6,354 5,088 13,745 3,136 1,902 3,507 3,668 10,417 CAPITAL ACCOUNTS Contingent liability on acee ptances purchased for forei gn correspondents 232 11 3/ 61 12 21 12 15 34 8 5 10 13 30 i FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,845 11,804 2,808 4,049 4,384 2,712 8,671 1,903 865 1,848 1,877 6,123 Collateral for F. R. notes: Gold certificate account 250 500 300 510 580 — 1,000 155 27 — 5 — U. S. Government securities 2,650 11,400 2,620 3,750 3,860 2,800 7,950 1,830 860 1,875 1,930 6,500 Total collateral 2,900 11,900 2,920 4,260 4,440 2,800 8,950 1,985 887 1,875 1,935 6,500 17 After deducting S 81 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting S171 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis