H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement off F.R. Banks H.4.1 For immediate release July 2, 1970 The average of daily figures for total reserves of member banks increased $502 million in the latest weektto $27,756 million. Required reserves, excess reserves, and member bank borrowings at Federal Reserve Banks all increased. A greater than seasonal decline in float of $577 million was the major factor draining reserves in this latest statement week. However, this drain was partially offset by a rise in other Federal Reserve assets and by System Open Market operations. The System holdings of U.S. Government securities rose by $445 million net, on a weekly average basis. Member bank borrowings averaged just under a billion dollars and exceeded excess reserves by $784 million compared to $823 million for the previous week. Avera?t ea of daily figures Member bank .reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 1, June 24, 1 Juiy 2, July 1, and related items 1970 1970 1 1969 1970 Reserve Bank credit: (Iri millions of dollars) 1/ U.S. Government securities— Bought outright--Systera account 57,744 + 445 +3,700 57,714 Held under repurchase agreements -- -- - 117 — Federal Agency obligations— Held under repurchase agreements — — 53 tm •• Acceptances Bought outright 33 5 9 34 Held under repurchase agreements -- — - 19 •••a Discounts and advances-- Member bank borrowings 993 + 106 - 641 834 Other 90 -- + 90 90 Float 2,580 - 577 + 161 2,551 Other F. R. assets 1,521 + 97 -1 151 1,361 ? Total Reserve Bank credit 62,961 + 66 +1,960 62,584 Gold stock 11,367 -- +1,000 11,367 i Special Drawing Rights certif. acct. 400 -- + 400 400 Treasury currency outstanding 7,010 + 6 + 265 7,009 ,81,738 + 72 +3,624 81,360 Currency in circulation 54,180 + 8 +3,267 54,475 Treasury cash holdings 457 - 27 - 198 444 Treasury deposits with F. R. Banks 1,129 - 66 + 61 900 Foreign deposits with F. R. Banks 163 - 44 + 35 185 Other deposits with F. R. Banks 786 - 14 + 295 813 Other F. R. liabilities and capital 2^256 + 67 + 234 2,284 Member bank reserves: 58,972 - 75 +3,695 59,101 With Federal Reserve Banks 22,766 + 148 - 71 22,260 Currency and coin 4,990 + 354 + 327 4,990 Total reserves held 27,756 + 502 + 256 27,250 Required reserves 27,547 + 357 + 543 27,547 Excess reserves 209 + 145 - 287 - 297 NOTE: A net of $78 million of surplus reserves were eligible to be carried forward from the week ended June 24, into the week ending July 1. 1/ Includes $35 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On July 1, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account Were $10,665 million, and increase of $175 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 July 1, June 24, July 2, 1970 1 1970 1969 A S S E TS Gold certificate account 11,045 +1,018 Special Drawing Rights certif. accts. * 400 + 400 Cash (685) 216 + 37 Discounts and advances 924 83 + 363 Acceptances: Bought outright 34 Held under repurchase agreements Federal Agency obligations-- Held under repurchase agreements U. S. Government securities : Bought outrigh t*- Bills 2222,,440077 + 709 +2,941 Certificates Notes 32,420 +1,919 Bonds S.887 -1.241 Total bought outright 1/ 57,714 + 7Q9 +3,619 Held under repurchase agreements -- Total U. S. Government securities 57,714 + 709 +3,619 Total loans and securities 58,672 + 792 +3,973 Cash items in process of collection (2,669) 10,463 + 365 + 199 Bank premises 119 + 6 Other assets 2/ 1,242 - 180 -1,301 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,354) 82,157 + 977 +4,332 Federal Reserve notes (685) 47,803 218 +2,754 Deposits: Member bank reserves 22,260 + 704 +1,048 U. S. Treasurer—general account 900 - 236 95 Foreign 185 - 61 + 35 Other 3/ (5) 813 ,- 2 + 296 Total deposits (5) 24,158 + 405 +1,284 Deferred availability cash items (2,664) 7,912 + 278 + 56 Other liabilities and accrued dividends 609 + 6 + 145 TOTAL LIABILITIES (3,354) 80,482 + 907 +4,239 £ £ P I T A L A C C O U N TS Capital paiZ in 685 —_ • + 24 Surplus 669 — + 39 Other capital accounts 321 70 + 30 • Contingent liability on acceptances purchased for foreign correspondents 235 + 7 + 73 * Figures in parentheses are the eliminations made in the consoli dating process. JL/ 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. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JUL? 1, 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 828 12 2,203 -- 16 days to 90 days 96 22 10,004 +193 91 day8 to 1 year — — 14,174 +516 Over 1 year to 5 year•ss -- 25,395 -- Over 5 years to 10 jars — 5,314 .. Over 10 years — — 624 — Total 924 34 57,714 +709 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 JULY 1, 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 11,045 368 3,220 588 945 957 547 1,881 318 111 395 343 1,372 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 685 ! 52 186 36 53 47 95 25 23 23 32 19 94 Other cash 216 1 9 26 9 25 13 30 29 13 7 16 14 25 Discounts and advances 924 i 53 268 32 25 33 75 250 19 54 35 46 34 Acceptances: Bought outright 34 — 34 — — -- -- -- -- -«, -_ •»_ .. — Held under repurchase agreements -- -- -- -- -- -- -> __ __ -- __ •B •> mt tm Federal Agency obligations-- Held under repurchase agreements — — — ,— — — — -- -- -- ... «. M •*•• U. S. Government securities: Bought outright— Bills 22,407 1,142 5,560 1,146 1,735 1,689 1 ,221 3,694 819 424 858 964 3,155 Certificates -- --. __ -- -- -- -- -- -- -- -- — -- Notes 32,420 1,652 8,044 1,658 2,510 2,443 1 ,766 5,345 1 ,=1 84 615 1 ,243 1 ,395 4,565 Bonds 2.887 , 147 716 148 224 218 157 476 105 5_5_ 111 124 406 Total bought outright \j 57,714 2,941 14,320 2,952 4,469 4,350 T ,144 9,515 ~T, 108 1,094 2~, 212 2 ,483 8,126 Held under repurchase agreements — -- — — — -- — — — -- — — — Total U. S. Government securities 57,714 2,941 14,320 2,952 4,469 4,350 ~T, 144 9,515 ~ ,108 1,094 2 ,212 . 2", 483 8,126 Total loans and securities 58,672 2,994 14,622 2,984 4,494 4,383 3 ,219 9,765 2,, 127 1,148 2,, 247 2 ,529 8,160 Cash items in process of collection 13,132 821 2,332 678 953 954 1 ,231 2,153 681 503 948 759 1,119 Bank premises 119 2 9 2 9 11 17 17 10 7 18 8 9 Other assets 2) 1,242 64 472 58 83 68 59 157 35 21 40 50 135 TOTAL ASSETS 85,511 4,333 20,960 4,378 6,595 6,469 5 ,220 14,097 3., 222 1,827 3 ,711 3 ,736 10,963 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 JULY 1, 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 48,488 2,808 11,371 2,754 3,937 4,330 2,594 8,498; 1,842 849 1,812 1,781 5,912 Deposits: Member bank reserves 22,260 606 6,433 886 1,557 1,049 1,418 3,377 700 475 941 1,199 3,619 U. S. Treasurer—general account 900 64 32 72 76 117 32 119 52 34 132 47 123 Foreign 185 9 1/ 45 10 17 10 12 28 6 4 8 11 25 Other 818 1 1/769 3 6 2 8 1 3 5 2 18 Total deposits 24,163 680 7,279 971 1,650 1,182 1,464 3,532 759 516 1,086 1,259 3,785 Deferred availability cash items 10,576 734 1,717 536 815 819 1,023 1,714 541 413 722 581 961 Other liabilities and accnl ed 609 31 151 31 47 46 33 100 22 12 23 26 87 dividends TOTAL LIABILITIES 83,836 4,253 20,518 4,292 6,449 6,377 5,114 13,844 3,164 1,790 3,643 3,647 10,745 r.APTTAT. ACCOUNTS Capital paid in ^85 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 321 16 82 17 25 23 18 53 12 6 11 14 44 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 85,511 4,333 20,960 4,378 6,595 6,469 5,220 14,097 3,222 1,827 3,711 3,736 10,963 Contingent liability on ace: eptances purchased for fore:L gn correspondents 235 11 3/ 63 12 21 12 15 35^ 8__ 5 10 13 30 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 50,443 2,895 11,853 2,836 4,091 4,430 2,754 8,769 1,911 882 1,895 1,907 6,220 Collateral for F. R. notes: Gold certificate account 3,322 250 500 300 510 580 1,000 155 22 — 5 U. S. Government securities 48,330 2.650 11,600 2.620 3.750 3.900 2.800 7.950 1,830 875 1,925 1.930 6,500 Total collateral 51,652 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 $140 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3/ After deducting $172 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis