H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.•^oicov^. FEDERAL RESERVE Factors Affecting Bank Rtstrvts and Condition Stattmtnt of F.R. Inks H.4.1 For immediate release June 11, 1970 The average of daily figures for total reserves of member banks decreased $154 million in the latest statement week to $27,459 million. Required reserves, excess reserves, and member bank borrowings from Federal Reserve Banks all declined. A seasonal rise in currency in circulation and a significant decline in float were the major factors absorbing reserves in the latest week. These reserve drains were almost completely offset by a sizable decline in Treasury deposits with Federal Reserve Banks. In addition, the System supplied $154 million in reserves net, on a weekly average basis through repurchase agreements and outright purchases of Treasury bills and coupon issues. During the week a total of $211 million of these coupon purchases were made. Member bank borrowings declined below the average level of recent weeks and exceeded excess reserves by $738 million compared to $1,050 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 10, June 37 June 11, June 10, and related items 1970 i922 1969 197Q Reserve Bank credit: (In millions of dollars) U.S. Government securities— 1/ Bought outright--System account 57,438 + 143 +3,518 57,552 Held under repurchase agreements 86 + 15 - 65 Federal Agency obligations— Held under repurchase agreements 16 13 Acceptances Bought outright 41 2 3 38 Held under repurchase agreements 11 4 1 Discounts and advances-- Member bank borrowings 369 404 742 Other + 90 90 Float 192 + 198 2,104 Other F. R. assets 36 -l ,332 1,261 Total Reserve Bank credit - 371 +1,988 61,787 Gold stock +1,000 11,367 Special Drawing Rights certif. acct. + 400 400 Treasury currency outstanding + 247 6,994 - 369 +3,636 80,548 Currency in circulation + 264 +3,371 54,310 Treasury cash holdings - 19 - 163 511 Treasury deposits with F. R. Banks - 411 + 85 880 Foreign deposits with F. R. Banks + 11 + 43 117 Other deposits with F. R. Banks 8 + 345 795 Other F. R. liabilities and capital 2,369 + 77 + 246 2,377 Member bank reserves: - 5S +3,92" 8 58,990 With Federal Reserve Banks 22,432 - 283 - 292 21,558 Currency and coin 5,027 + 129 + 307 5,027 Total reserves held 27,459 - 154 + 15 26,585 Required reserves 27,341 - 97 + 345 27,341 Excess reserves 118 - 57 330 - 756 NOTE: A net of $122 million of surplus reserves were eligible to be carried forward from the week ended June 3, into the week ending June 10. 1/ Includes $21 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On June 10, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $10,353 million, an increase of $384 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 10, June 3, June 11, 1970 1970 1969 A S S E TS Gold certificate account 11,045 -- +1,023 Special Drawing Rights certif. accts. 400 — + 400 Cash (592) 205 4 + 16 Discounts and advances 832 504 + 331 Acceptances: Bought outright 38 4 8 Held under repurchase agreements 23 -- Federal Agency obligations-- Held under repurchase agreements 85 U. S. Government securities : Bought outright— Bills 22,245 +3,076 Certificates Notes 32,420 + 187 +1,919 Bonds 2,887 + 24 -1,241 Total bought outright 1/ 57,552 + 208 +3,754 Held under repurchase agreements - 269 Total U. S. Government securities 57,552 - 61 +3,754 Total loans and securlt-tes 58,422 - 677 +4,077 Cash items in process of collection (2,232) 9,050 - 624 + 19 Bank premises 119 + 2 + 5 Other assets 2/ 1,142 + 44 -1.336 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,824) 80 383 •1,251 +4,204 k 1 £ 2. Ik 11 Ik 1 Federal Reserve notes (592) 47,710 + 314 +3,087 Deposits: Member bank reserves 21,558 -1,180 + 418 U. S. Treasurer--general account 880 - 373 - 19 Foreign 117 14 + 26 Other 2/ 795 20 + 360 Total deposits 23,350 -1,587 + 785 Deferred availability cash items (2,232) 6,946 20 + 82 _uz Other liabilities and accrued dividends 6_U - 26. + TOTAL LIABILITIES (2,824) 78,618 -1,319 +4, 091 £ £ P I T A L A C C O U N TS Capital, paid in*" 684 — + 25 Surplus 669 — + 39 Other capital accounts 412 68 + 49 Contingent liability on acceptances purchased for foreign correspondents 229 2 + 51 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $21 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. l_l Includes assets denominated in foreign currencies and IMF gold deposited. Zj Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JUNE 10, 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 736 12 2,506 \ -256 16 days to 90 days 96 26 10,149 -145 91 days to 1 year 13,564 + 68 Over 1 year to 5 years 25,395 +146 Over 5 years to 10 years 5,314 + 37 Over 10 years + 4 624 Total 832 38 -146 57,552 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OP EACH FEDERAL RESERVE BANK ON JUNE 10, 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 11,045 777 2,607 614 890 1,067 693 2,011 342 127 444 311 1,162 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 592 51 182 23 42 43 76 21 17 14 25 12 86 Other cash 205 9 24 8 23 13 30 25 13 7 15 12 26 Discounts and advances 832 38 267 61 57 22 16 126 23 41 38 68 75 Acceptances: Bought outright 38 38 Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outright— Bills 22,245 1,120 5,486 1,170 1,742 1,673 1,209 3,658 820 457 822 961 3,127 Certificates Notes 32,420 1,632 7,995 1,706 2,538 2,438 1,761 5,331 1,195 666 1,199 1,401 4,558 Bonds 2,887 145 712 152 226 217 157 475 106 59 107 125 406 Total bought outright 1/ 57,552 2,897 14,193 3,028 4,506 4,328 3,127 9,464 2,121 1,182 2,128 2,487 8,091 Held under repurchase agreements — Total U. S. Government securities 57^552 2^897 14,193 3,028 4,506 4,328 3,127 9,464 2,121 1,182 2,128 2^8T2_a_ 09J_ L Total loans and securities 58,422 2,935 14,498 3,089 4,563 4,350 3,143 9,590 2,144 1,223 2,166 2,555 8,166 Cash items in process of collection 11,282 703 1,805 632 785 862 1,083 1,903 594 462 771 666 1,016 Bank premises 119 2 9 2 9 11 17 17 10 7 18 8 9 Other assets 2/ 1,142 57 442 51 78 59 54 139 31 20 37 55 119 TOTAL ASSETS 83,207 4,557 19,660 4,442 6,423 6,441 5,118 13,776 3,166 1,867 3,491 3,633 10,633 1/ Tncludes $21 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. I1 Includes assets denominated i.n foreigh 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 10, 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 ~ * 48,302 2,783 11,280 2,740 3,926 4,301 2,592 8,472 1,840 851 1,812 1,771 5,P34" Deposits: Member bank reserves ' * 21,558 943 5,438 983 1,528 1,132 1,380 3,379 719 565 889 1,148 3,454 U. S. Treasurer—general account 880 69 202 66 63 120 60 37 51 34 72 54 52 Foreign 117 6 1/ 28 6 11 6 8 18 4 •3 5 7 15 Other 795 2/741 11 10 2 6 1 1 3 2 18 Total deposits 23,350 1,018 6,409 1,066 1,602 1,268 1,450 3,440 775 603 969 1,211 3,539 Deferred availability cash items 9,178 641 1,352 515 694 728 933 1,497 469 362 615 531 841 Other liabilities and accrued dividends 612 31 153 31 48 45 33 99 22 L3_ 23_ 2Z_ 87 TOTAL LIABILITIES 81,442 4,473 19,194 4,352 6,270 6,342 5,008 13,508 3,106 1,829 3,419 3,540 10,401 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 1 412 20 107 21 32 30 22 68 14 7 15 18 58 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 83.207 4.557 19.660 4,442 6,423 6,441 5.118 13.776 3.166 1.867 3.491 3.633 10.633 ;' " _ . r Contingent liability on accept ances purchased for foreign correspondents 229 11 3/60 12 20 12 15 34 8 5 9 13 30 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 50,151 2,851 11,823 2,809 4,061 4,403 2,727 8,720 1,908 885 1,865 1,885 6,214 Collateral for F. R. notes: Gold certificate account 3,327 250 500 300 510 580 1,000 155 27 5 U. S. Government securities 48,330 2,650 11,600 2,620 3,750 3.900 2.800 7.950 1.830 875 .-1.935 1.230.- 6.500 Total collateral 51,657 1 2,900 12,100 2,920 4,260 4,480 2,800 8,950 1,985 902 1,925 1,935 6,500 1/ After deducting $ 89 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. Digitized fo3r F/R ASAEfRt er deducting $ 169 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis