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 and Condition Statement of F.R. Banks H.4.1 For immediate release June 25, 1970 The average of daily figures for total reserves of member banks declined $462 million in the latest week to $27,254 million. Both required reserves and excess reserves decreased while member bank borrowings at Federal Reserve Banks increased. A seasonal rise in float was the major source of reserves in the latest week. This source of reserves was in part offset by a rise in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $678 million in reserves net, on a weekly average basis. Of this reserve absorption $145 million was made through matched sale-purchase transactions. Member bank borrowings were above the average level of the past two weeks and exceeded reserves by $823 million compared with the revised figure of $382 million for the previous week. Averages of daily figures Week ended Change from week ended Wednesday, June 24, June 17, June 25, June 24, 1970 1970 1969 1970 (Int millions o:f dollars) y 2/ 57,299 ' 678 +3,435 57,005 38 — 5 887 + 229 - 436 90 -- + 90 3,157 + 200 + 475 1,424 + 53 -1,251 62,895 - 196 +2,308 11,367 -- +1,000 400 -- + 400 7,004 + 8 + 253 81,666 - 188 +3,96,1 54,172 - 89 +3,486 I 484 - 15 - 180 | 1,195 + 185 94 j 207 + 50 + 98 800 - 35 + 332 2,189 + 9 + 231 59,047 + 105 +3,873 22,618 - 294 + 88 4,636 - 168 + 200 27 254 - ~W2 + 288 3 27,190 - 250 + 415 64 — 212 - 127 1 CO I Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securities— Bought outright—System account Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements Acceptances Bought outright Held under repurchase agreements Discounts and advances-- Member bank borrowings 751 Other 90 Float 2,408 Other F. R. assets 1,541 Total Reserve Bank credit 61,829 Gold stock 11,367 Special Drawing Rights certif. acct. 400 Treasury currency outstanding 7^008 80,604 Currency in circulation 54,223 Treasury cash holdings 475 Treasury deposits with F. R. Banks 1,136 Foreign deposits with F. R. Banks 246 Other deposits with F. R. Banks 815 Other F. R. liabilities and capital 2,208 59,103 Member bank reserves: With Federal Reserve Banks 21,500 Currency and coin 4,636 Total reserves held 26,136 Required reserves 27,190 Excess reserves -1,054 NOTE: A net of $175 million of surplus reserves were eligible to be carried forward from the week ended June 17, into the week ending June 24 „ jL/ Reflects $484 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $46 million securities loaned--f*lly secured by U. S. Government securities pledged with Federal Reserve Banks. On June 24, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $10,490 million, a decrease of $230 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 24, June 17, June 25, 1970 1970 1969 A S S E TS Gold certificate account 11,045 — +1,023 Special Drawing Rights certif. accts. * 400 — + 400 Cash (704) 216 + 8 + 33 Discounts and advances 841 + 381 - 507 Acceptances: Bought outright 34 Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities : Bought outright-- Bills 21,698 818 +3,121 Certificates Notes 32,420 — +1,919 Bonds 2,887 — -1,241 Total bought outright 1/ 2/ 57,005 - 818 +3,799 Held under repurchase agreements -- -- -- Total U. S. Government securities 57,005 - 818 +3,799 Total loans and securities 57,880 - 441 +3,283 Cash items in process of collection >20) 10,042 -2,158 + 551 Bank premises 119 -- + 6 Other assets 3/ 1,422 + 127 -1,171 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,324) 81,124 -2,464 +4,125 L I A * Ik II11L 1 (704) 47,585 144 +3,035 Federal Reserve notes Deposits: Member bank reserves 21,500 -1,457 + 305 U. S. Treasurer--general account 1,136 + 44 - 411 Foreign 246 + 49 + 140 Other kj 815 1 + 357 Total deposits 23,697 -1,365 + 391 Deferred availability cash items (2,620) 7,634 -1,011 + 458 Other liabilities and accrued dividends 603 16 + 154 TOTAL LIABILITIES (3,324) 79,519 -2,536 +4, 038 C A P I T AL A C C O U N TS Capital paid in 685 + 1 + 27 Surplus 669 -- + 39 Other capital accounts 251 •• 71 + 21 Contingent liability on acceptances purchased for foreign correspondents 228 -- + 58 * Figures in parentheses are the eliminations made in the consolidating process. \J Reflects $484 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $46 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. 47 Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNEJ 24, 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 advance2 8 Acceptances Holdings Weekly changes Within 15 days 744 11 2,203 -704 16 days to 90 days 97 23 9,811 + 43 91 days to 1 year -- -- 13,658 -157 Over 1 year to 5 year•ss — 25,395 -- Over 5 years to 10 ye»aarrss -- 5,314 -- Over 10 years — — 624 — Total 841 34 57,005 •818 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 24, 1970 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco din millions of dollars) A S S E TS Gold certificate account 11,045 780 1,761 520 879 1,049 745 2,211 332 107 499 369 1,793 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 704 51 202 32 52 50 92 34 24 19 29 19 100 Other cash 216 8 26 10 25 12 30 29 13 8 16 13 26 Discounts and advances 841 25 150 24 41 14 83 161 15 93 35 83 117 Acceptances: Bought outright 34 34 — — — — — " Held under repurchase agreements — — — — — — -- Federal Agency obligations— :: Held under repurchase agreements U. S. Government securities: Bought outright— Bills 21,698 1 ,093 5,351 1,141 1,699 1,632 1,179 3,568 800 445 802 938 3,050 Certificates Notes 32,420 ! l, 632 7,995 1,706 2,538 2,438 1,761 5,331 1,195 666 1 ,199 1 ,401 4,558 Bonds 2,8871i 145 712 152 226 217 157 475 106 59 107 125 406 Total bought outright U 2/ 57,005| .2, 870 14,058 2,999 4,463 4,287 3,097 9,374 2,101 1,170 ~2 ,108 2 ,464 8,014 Held under repurchase agreements Total U. S. Government securities 57,005 2 ,870 14,058 2,999 4,463 4,287 3,097 9,374 2,101 1,170 2 ,108 2 ,464 8,014 Total loans and securities 57,880 2 ,895 14,242 3,023 4,504 4,301 3,180 9,535 2,116 1,263 2 ,143 2 ,547 8,131 Cash items in process of collection 12,662 796 2,279 787 863 925 1,198 1,986 616 472 914 736 1,090 Bank premises 119 2 9 2 9 11 17 17 10 7 18 8 9 Other assets 3/ 1,422 71 516 65 100 74 71 181 42 28 47 70 157 TOTAL ASSETS 84,448 4 ,626 19,128 4,462 6,465 6,458 5,355 14,063 3,168 1,911 3 ,681 3 ,776 11,355 1/ Reflects $484 million of securities sold, and scheduled to be bought back, under matched sale - purchase transactions. 2/ Includes $46 million securities loaned--fully secured by U. S. Government securities pledged with Federal Reserve Banks. 3/ 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 24, 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 48,289 2,798 11,297 2,749 3,927 4,295 2,581 8,481 1,834 851 1,802 1,774 5,900 Deposits: Member bank reserves 21,500 939 4,706 895 1,467 1,123 1,504 3,453 699 572 946 1,209 3,987 U. S. Treasurer—general account 1,136 100 58 72 69 109 89 116 62 38 99 94 230 Foreign 246 11 1/ 84 11 20 11 14 33 7 5 9 12 29 Other 815 * 2/745 5 7 2 23 1 2 3 3 24 Total deposits 23,697 1,050 5,593 983 1,556 1,250 1,609 3,625 769 617 1,057 1,318 4,270 Deferred availability cash items 10,254 671 1,666 616 794 781 1,029 1,620 488 393 734 572 890 Other liabilities and accrued dividends 603 31 148 32 48 44 33 96 22 14 22 26 87 TOTAL LIABILITIES 82,843 4,550 18,704 4,380 6,325 6,370 5,252 13,822 3,113 1,875 3,615 3,690 11,147 CAPITAL ACCOUNTS Capital paid in 685 32 183 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 251 12 64 L3_ L2_ L9_ L5_ 41_ 9_ 5_ 9_ 11 34 TOTAL LIABILITIES AND 1 CAPITAL ACCOUNTS 84,448 4.626 19.128 4.462 6.465 6.458 5.355 14:063 3.168 1.911 3,681 3.776 11.355 Contingent liability on acee ptances purchased for foreig n correspondents 228 11 3/ 60 12 20 12 15 34 8 5 9_ 13 29 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,880 11,852 2,818 4,084 4,416 2,756 8,774 1,919 878 1,890 1,906 6,205 Collateral for F. R. notes: Gold certificate account 250 500 300 510 580 -- 1,000 155 22 5 Eligible paper 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 1,985 897 1,925 1,935 6,500 1/ After deducting $ 162 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $168 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis