H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bank Reserves anil Condition Statement of F.R. Banks H.4.1 For immediate release June 18, 1970 The average of daily figures for total reserves of member banks increased $221 million in the latest statement week to $27,680 million. Required reserves and excess reserves both increased while member bank borrow ings from Federal Reserve Banks declined. A seasonal increase in currency in circulation and a rise in Treasury deposits with Federal Reserve .Banks were the major factors draining reserves during the statement week. These reserve decreases were in part offset by a rise in other Federal Reserve assets and a delcine in other Federal Reserve liabilities and capital. A seasonal rise in float provided additional reserves. System Open Market operations supplied $539 million in reserves net, on a weekly average basis through outright purchases of Treasury bills. Member bank borrowings declined for the second week and exceeded reserves by $418 million compared with $738 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 17, June 10, June 18, June 17, and related items 1970 1970 1969 1970 Reserve Bank credit: i millions of: dollars) (IT 1/ U.S. Government securities— Bought outright--Systera account 57,977 + 539 +3,939 57,823 Held under repurchase agreements -- - 86 -- -- Federal Agency obligations— Held under repurchase agreements — 16 -- — Acceptances Bought outright 38 3 7 38 Held under repurchase agreements -- 11 -- — Discounts and advances-- Member bank borrowings 658 198 - 657 370 Other 90 -- + 90 90 Float 2,921 + 335 + 410 3,472 Other F. R. assets 1,371 + 143 -1,246 1,414 Total Reserve Bank credit 63,055 + 703 +2,529 63,207 Gold stock 11,367 -- +1,000 11,367 Special Drawing Rights certif. acct. 400 -- + 400 400 Treasury currency outstanding 6,996 + 5 -»• 251 6,999 81,819 + 708 +4,181 81,973 Currency in circulation 54,261 + 224 +3,484 54,347 Treasury cash holdings 499 - 17 - 172 495 Treasury deposits with F. R. Banks 1,010 + 191 87 1,092 Foreign deposits with F. R. Banks 157 + 12 + 55 197 Other deposits with F. R. Banks 835 + 42 + 382 797 Other F. R. liabilities and capital 2,180 - 189 + 266 2,152 Member bank reserves: 58,942 + 263 +3,929 59,080 With Federal Reserve Banks 22,876 + 444 + 252 22,893 Currency and coin 4,804 - 223 + 392 4,804 Total reserves held 27,680 + 221 + 644 27,697 Required reserves 27,440 + 99 + 503 | 27,440 Excess reserves 240 + 122 + 141 257 NOTE: A net of $87 million of surplus reserves were eligible to be carried forward from the week ended June 10, into the week ending June 17. 1/ Includes $12 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On June 17, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $10,720 million, an increase of $367 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 17, June 10, June 18, 1970 1970 1969 A S S E TS Gold certificate account 11,045 +1,023 Special Drawing Rights certif. accts. 400 + 400 Cash (633) 208 + 3 + 17 Discounts and advances 460 - 372 - 309 Acceptances: Bought outright 38 Held under repurchase agreements Federal Agency obligations-- Held under repurchase agreements U. S. Government securities : Bought outright— Bills 22,516 + 271 +4,182 Certificates Notes 32,420 +1,919 Bonds 2,887 -1,241 Total bought outright 1/ 57,823 + 271 +4,860 Held under repurchase agreements Total U. S. Government securities 57,823 + 271 +4,860 Total loans and securities 58,321 - 101 +4,545 Cash items in process of collection (3,150) 12,136 +3,027 +1,645 Bank premises 119 — + 5 Other assets 7J 1,295 + 153 -1,261 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,783) §3|524 +3,082 +6J374 L 1 £ HL Ik 1111L 1 Federal Reserve notes (633) 47,729 + 19 +3,149 Deposits: 22,893 +1,276 +2,169 Member bank reserves 1,092 + 212 - 260 U. S. Treasurer—general account 197 + 80 + 91 Foreign Other 2J (175) 816 + 21 + 375 Total deposits (175) 24,998 +1,589 +2,375 Deferred availability cash items (2,975) 8,645 +1,699 + 625 Other liabilities and accrued dividends + TOTAL LIABILITIES (3,783) 81,991 +3,314 +6,302 £ £ P JL T A L A C C O U N TS Capital paid in 684 — + 25 Surplus 669 — + 39 Other capital accounts 180 -232 +8 Contingent liability on acceptances purchased for foreign correspondents 2 2 8 -1 + 52 * Figures in parentheses are the eliminations made in the consoli dating process. 1/ Includes $12 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, JUNE 17, 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 362 13 2,907 +401 16 days to 90 days 98 25 9,768 -381 91 days to 1 year 13,815 +251 Over 1 year to 5 years 25,395 — Over 5 years to 10 years 5,314 — Over 10 years 624 ._...--. Total 460 38 57,823 +271 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 17, 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 11,045 701 2,639 419 1,047 1,002 530 2,189 349 71 472 379 1,247 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 633 46 184 27 44 51 85 23 20 15 28 16 94 Other cash 208 8 24 8 24 13 30 26 12 7 16 14 26 Discounts and advances 460 29 88 5 39 7 50 120 9 60 30 11 12 Acceptances: Bought outright 38 -- 38 -- -- -- -- -- -- — -- -- -- Held under repurchase agreements -- — -- -- -- -- -- -- -- -- -- -- — Federal Agency obligations-- Held under repurchase agreements -- -- — — — -- -- -- -- -- -- •t — U. S. Government securities: Bought outright— Bills 22,516 1,134 5,553 1,184 1,764 1,693 1,223 3,703 830 462 832 973 3,165 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 r Total bought outright \j 57,823 2,911 14,260 3,042 4,528 4,348 3,141 9,509 2,131 ,187 2,138 2 ,499 8,129 Held under repurchase agreements ~~ -- -- -- -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities 57,823 i 2,911 14,260 3,042 4,528 4,348 3,141 9,509 2,131 1 J87 2,138 2~, 499 8,129 Total loans and securities 58,321 2,940 14,386 3,047 4,567 4,355 3,191 9,629 2,140 1 ,247 2,168 2 ,510 8,141 Cash items in process of collection 15,286 706 3,279 935 1,061 1,169 1,375 2,481 711 546 933 807 1,283 Bank premises 119 2 9 2 9 11 17 17 10 7 18 8 9 Other assets 2J 1,295 63 481 58_ 88 66_ 63 173 36 23 41 55 148 TOTAL ASSETS 87,307 4,489 21,095 4,519 6,873 6,703 5,313 14,608 3,293 1 ,923 3,691 3 ,803 10,997 1/ Includes $12 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 17, 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 48,362 2,796 11,298 2,751 3,937 4,294 2,592 8,487 1,838 852 1,810 1,779 5,928 Deposits: Member bank reserves 22,893 766 6,358 887 1,722 1,156 1,350 3,724 746 534 944 1,176 3,530 U. S. Treasurer—general account 1,092 71 185 57 58 150 52 78 68 33 107 75 158 Foreign 197 9 1/ 65 9 16 9 12 27 6 4 7 10 23 Other 972 7/830 16 14 18 16 27 9 4 5 8 25 Total deposits 25,154 846 7,438 969 1,810 1,333 1,430 3,856 829 575 1,063 1,269 3,736 Deferred^availability cash items 11,639 746 1,799 687 942 947 1,160 1,935 551 447 732 645 1,048 Other liabilities and accnl ed dividends 619 29 154 33 49 47 33 100 22 15 23 27 87 TOTAL LIABILITIES 85,774I 4,417 20,689 4,440 6,738 6,621 5,215 14,378 3,240 1,889 3,628 3,720 10,799 CAPITAL ACCOUNTS Capital paid in ! 6841 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 180! 8 47 10 14 13 10 30 7 3 6 8 24 TOTAL LIABILITIES AND CAPITAL ACCOUNTS | 87,307 4,489 21,095 4,519 6,873 6,703 5,313 14,608 3,293 1,923 3,691 3,803 10,997 Contingent liability on ace: eptances purchased for fore]L gn 2281 11 3/ 60 12 18 12 15 34 8 5 10 13 30 correspondents FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,883 11,848 2,815 4,093 4,411 2,741 8,760 1,913 882 1,882 1,890 6,222 Collateral for F. R. notes: Gold certificate account 250 500 300 510 580 1,000 155 27 5 U. S. Government securities 2,650 11,600 2,620 3,750 3,900 2,800 7,950 1,830 875 1,925 1,930 6,500 Total collateral 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 $132 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3/ After deducting $168 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis