H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bask Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release June 4, ,1970 The average of daily figures for total reserves of member banks increased $305 million in the latest statement week to $27,613 million. Required reserves, excess reserves, and member bank borrowings from Federal Reserve Banks all increased. A seasonal increase in currency in circulation and a decline in other Federal Reserve assets were the major factors absorbing reserves in the latest week. System Open Market operations provided $348 million in reserves, on a weekly average basis, primarily through the outright purchase of U. S. Government securities. Late in the week some repurchase transactions were also made. Member bank borrowings were above the average level of recent weeks and exceeded excess reserves by $1,050 million compared to the revised figure of $899 million for the previous week. Averagj es of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 3, May 27, June 4, June 3, and related items 1970 1970 1969 1970 Reserve Bank credit: (Int millions of: dollars) U.S. Government securities— !/ Bought outright—System account 57,295 + 255 +3,659 57,344 Held under repurchase agreements 71 + 71 - 108 269 Federal Agency obligations— Held under repurchase agreements 22 22 27 85 Acceptances Bought outright 43 ~ 7 2 42 Held under repurchase agreements 7 + */7 14 23 Discounts and advances-- Member bank borrowings 1,225 + 294 - 296 1,246 Other 90 -- + 90 90 Float 2,778 - 48 + 510 2,660 Other F. R. assets 1,192 - 102 -1,316 1,215 Total Reserve Bank credit 62,723 + 492 +2,496 62,974 Gold stock 11,367 +1,000 11,367 Special Drawing Rights certif. acct. 400 + 400 400 Treasury currency outstanding 6,990 + 16 + 248 6,989 81,480 + 509 +4,144 81,730 Currency in circulation 53,773 + 256 +3,332 53,978 Treasury cash holdings 535 - 3 - 154 528 Treasury deposits with F. R. Banks 1,230 - 35 + 730 1,253 Foreign deposits with F. R. Banks 134 + 15 + 29 131 Other deposits with F. R. Banks 801 - 3 + 354 815 Other F. R. liabilities and capital 2,292 + 93 + 240 2,335 Member bank reserves: 58,765 + 324 +4,531 59,040 With Federal Reserve Banks 22,715 + 184 - 387 22,690 Currency and coin 4,898 + 121 + 357 4,898 Total reserves held 27,613 + 305 - 30 27,588 Required reserves 27,438 + 162 + 164 27,438 Excess reserves 175 + 143 - 194 i 150 NOTE: A net of $82 million of surplus reserves were eligible to be carried forward from the week ended May 27, into the week ending June 3. 1/ Includes $35 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On June 3, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,969 million, an increase of $217 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 June 3, May 27, June 4, 1970 1970 1969 A S S E TS Gold certificate account 11,045 +1,023 Special Drawing Rights certif. accts. 400 + 400 Cash (628) 201 4 + 7 Discounts and advances 1,336 358 + 408 Acceptances: Bought outright 42 4 2 Held under repurchase agreements 23 + 23 + 23 Federal Agency obligations-- Held under repurchase agreements 85 + 85 + 85 U. S. Government securities : Bought outright-- Bills 22,248 + 134 +3,044 Certificates Notes 32,233 + 68 +1,732 Bonds 2,863 + 27 -1,265 Total bought outright 1/ 57,344 + 229 +3,511 Held under repurchase agreements 269 + 269 + 269 Total U. S. Government securities 57.613 + 498 +3,780 Total loans and securities 59,099 + 960 +4,294 Cash items in process of collection (2,354) 9,626 + 465 + 45 Bank premises 117 - 1 + 2 Other assets 2/ 1,098 + 37 -1,264 31 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,982) 5Tf5gg +1 +4,507 Itli i l t H IE S Federal Reserve notes (628) 47,396 220 +2,996 Deposits: Member bank reserves 22,690 + 959 + 155 U. S. Treasurer—general account 1,253 - 52 + 956 Foreign 131 + 22 + 21 Other V 815 + 2 + 383 Total deposits 24,889 + 931 +1,515 Deferred availability cash items (2,354) 6,966 + 198 - 261 Other liabilities and accrued dividends 638 + 38 + 151 TOTAL LIABILITIES (2,982) 79,889 +1, 387 +4,401 C A P J . T AL A C C O U N TS Capital paid in 684 + 28 Surplus 669 + 39 Other capital accounts 344 70 + 39 Contingent liability on acceptances purchased for foreign correspondents 231 49 Figures in parentheses are the eliminations made in the consolid ating process, U Includes $35 million securities loaned—fully secured by U. S Government securities pledged with Federal Reserve Banks. H Induces assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 3, 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 1,244 37 2,762 -299 16 days to 90 days 92 28 10,294 +744 91 days to 1 year — — 13,496 + 56 Over 1 year to 5 year •s s — 25,249 + 70 Over 5 years to 10 ye>aarrss -- 5,277 + 6 Over 10 years — -- 620 + 6 Total 1,336 65 57,698 +583 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 JUNE 3, 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 11,045 597 2,050 629 1,027 1,056 730 2,150 238 204 453 470 1,441 Special Drawing Rights certif, acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 628 58 182 24 46 47 87 23 18 14 29 14 86 Other cash 201 9 24 7 21 12 29 24 13 7 15 13 27 Discounts and advances 1,336 175 561 60 31 34 50 130 14 19 79 14 169 Acceptances: Bought outright 42 -- 42 -- __ -- -- -- -- -- -- -- -- Held under repurchase agreements 23 — 23 -- — -- -- -- -- -- -- -- -- Federal Agency obligations— Held under repurchase agreements 85 -- 85 - - -_ -- - - - - - U. S. Government securities: Bought outright-- Bills 22,248 1,120 5,487 1,170 1,742 1,673 1,209 3,659 820 457 822 961 3,128 Certificates Notes 32,233 1,623 7,949 1,696 2,524 2,424 1,751 5,300 1., 188 662 1,192 1,393 4,531 Bonds 2,863 144 706 151 224 215 155 471 106 59 106 124 402 Total bought outright 1/ 57,344 2,887 14,142 3,017 4,490 4,312 3,115 9,430T ,114 1,178 2,120 2,478 8,061 Held under repurchase agreements ~~ 269 — 269 — — -- -- -- -- -- -- -- HI Total U. S. Government securities 57,613 2,887 14,411 3,017 4,490 4,312 3,115 9,430 2~ 1,178 2,120 2,478 87061 Total loans and securities 59,099 3,062 15,122 3,077 4,521 4,346 3,165 9,560 2 ,128 1,197 2,199 2,492 8,230 Cash items in process of collection 11,980 742 1,983 608 848 959 1,115 2,130 682 466 766 693 988 Bank premises 117 2 9 2 8 11 17 17 10 6 18 8 9 Other assets 2J 1,098 54 444 49 73 55 52 130 30 18 35 44 114 TOTAL ASSETS 84,568 4,547 19,907 4,419 6,577 6,522 5,217 14,104 3~, 134 1,919 3,530 -3,748 10,944 - 1/ Includes $35 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 JUNE 3, 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 48,024 2,766 11,263 2,728 3,904 4,281 2,564 8,419 1,828 844 1,804 1,755 5,868 Deposits: Member bank reserves 22,690 892 5,656 974 1,677 1,158 1,472 3,601 673 594 942 1,246 3,805 U. S. Treasurer—general account 1,253 105 184 106 56 195 94 120 79 53 68 80 113 Foreign 131 6 1/ 35 I 12 7 8 19 4 3 6 I 17 Other 815 7/761 3 9 2 4 3 17 Total deposits [24,889 1,003 6,636 1,090 1,745 1,372 1,577 3,749 758 654 1,019 1,334 3,952 Deferred availability cash items 9,320 666 1,386 483 732 729 936 1,580 468 371 615 542 812 Other liabilities and accri.te d dividends 638 31 173 32 48 46 33 100 22 13 23 27 90 TOTAL LIABILITIES 82,871 4,466 19,458 4,333 6,429 6,428 5,110 13,848 3,076 1,882 3,461 3,658 10,722 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 344 17 90 17 27 25 19 56 12 6 12 15 48 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 84,568 4,547 19,907 4,419 6,577 6,522 5,217 14,104 3,134 1,919 3,530 3,748 10,944 Contingent liability on ace. eptances purchased for forei gn correspondents 231 11 3/ 61 12 20 12 15 34 8 5 10 13 30 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 49,960 2,846 11,814 2,806 4,052 4,399 2,705 8,685 1,904 871 1,859 1,886 6,133 Collateral for F. R. notes: Gold certificate account 3,327 250 500 300 510 580 1,000 155 27 5 U. S. Government securitie s 48,275 2,650 11,600 2,620 3,750 3,860 2.800 7.950 1.830 860 1,925 1,930 6,500 Total collateral 51,602 2,900 12,100 2,920 4,260 4,440 2,800 8,950 1,985 JJ87 1,925 _1_»_?35_ 6,500 17 After deducting $ 96 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 37 After deducting $170 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis