H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and '*rf*Au@e Condition Statement off F.R. Banks H.4.1 For immediate release July 16, 1970 The average of daily figures of total reserves of member banks increased $303 million in the latest week to $28,125 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve banks all increased. A substantially greater than seasonal decline in float was the major factor draining reserves in this latest week. Reserves were also absorbed by a larger than seasonal increase in currency in circulation and a decrease in other Federal Reserve assets. A decline in Treasury deposits at Federal Reserve Banks offset some of these reserve drains. In addition, System Open Market operations supplied $794 million in reserves on a weekly average basis through repurchase agreements. Member bank borrowings remained above the average levels of recent weeks and exceeded excess reserves by $1,586 million compared to $1,235 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 15, July 8, | July 16, July 15, and related items 1970 1970 1 1969 1Q70 Reserve Bank credit: (In millions of dollars) U.S. Government securities— - Bought outright--System account 57,671 -- +3,106 57,671 Held under repurchase agreements 632 + 632 + 605 996 Federal Agency obligations-- Held under repurchase agreements 99 4- 99 90 172 Acceptances Bought outright 34 -- 6 34 Held under repurchase agreements 63 + 63 + 60 98 Discounts and advances-- Member bank borrowings 1,680 + 384 + 401 1,947 Other 90 -- + 90 90 Float 2,595 - 590 - 85 2,826 Other F. R. assets 1,250 - 128 -1,448 1,233 Total Reserve Bank credit 64,113 + 459 +2,811 65,067 Gold stock 11,367 «••• +1,000 11,367 Special Drawing Rights certif. acct. 400 — + 400 400 Treasury currency outstanding 6,988 - 12 + 251 6,988 82,868 + 446 +4,462 ! 83,822 Currency in circulation 54,990 + 337 +3,528 55,003 Treasury cash holdings 437 - 7 - 205 457 Treasury deposits with F. R. Banks 1,197 - 114 + 79 1,133 Foreign deposits with F. R. Banks 225 + 39 + 97 173 Other deposits with F. R. Banks 742 - 49 + 275 696 Other F. R. liabilities and capital 2,282 - 39 + 234 2,143 Member bank reserves: 59,873 + 165 +4,007 59,605 With Federal Reserve Banks 22,995 + 282 + 455 24,218 Currency and coin 5,130 + 21 + 395 5,130 Total reserves held 28,125 + 303 + 850 29,348 Required reserves 28,031 + 270 + 932 28,031 Excess reserves 94 + 33 82 1,317 NOTE: A net of $53 million of surplus reserves were eligible to be carried forward from the week ended July 8, into the week ending July 15. 1/ Includes $23 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On July 15, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $11,176 million, an increase of $286 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 15, July 8, July 16, 1970 1970 1969 AS SE T S Gold certificate account 11,045 +1,018 Special Drawing Rights certif. accts. 400 + 400 Cash (644) 204 2 + 37 Discounts and advances 2,037 + 440 - 48 Acceptances: Bought outright 34 - 7 Held under repurchase agreements 98 98 + 78 Federal Agency obligations-- Held under repurchase agreements 172 + 172 107 U. S. Government securities : Bought outright— Bills 22,364 +2,495 Certificates Notes 32,420 +1,867 Bonds 2,887 -1,256 Total bought outright 1/ 57,671 +3,106 Held under repurchase agreements 996 996 + 805 Total U. S. Government securities 58,667 + 996 +3,911 Total loans and securities 61,008 +1,706 +4,041 Cash items in process of collection (2,845) 11,172 +1,343 + 389 Bank premises 121 + 1 + 7 Other assets £./ 1,112 - 167 -1,383 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (3,489) 85,062 +2,881 +4,509 Federal Reserve notes (644) 48,353 32 +3,160 Deposits: Member bank reserves 24,218 +2,002 + 570 U. S. Treasurer—general account 1,133 + 74 + 45 Foreign 173 4- 13 + 57 Other 2./ 696 - 168 + 234 Total deposits 26,220 +T ,T2T + m Deferred availability cash items (2,845) 8,346 +1 ,188 + 239 Other liabilities and accrued dividends 622 + 27 + 141 TOTAL LIABILITIES (3,489) 83,541 +3,104 +4,446 C A P I T AL A C C O U N TS Capital paid in 686 1 + 24 Surplus 669 + 39 Other capital accounts 166 224 Contingent liability on acceptances purchased for foreign correspondents 238 83 * Figures in parentheses are the eliminations made in the consolidating process. JV Includes $23 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. 3_/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 15, 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 1,989 107 3,430 -f-1,244 16 days to 90 days 48 25 10,518 12 91 days to 1 year 13, 558 64 Over 1 year to 5 years 25, 395 Over 5 years to 10 years 5, 314 Over 10 years 624 Total 22,.003377 Til 58,839 +1,168 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 15, 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 11,045 730 1,879 680 1,053 1,025 621 2,102 392 237 456 442 1,428 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 644 42 158 36 46 53 91 23 20 21 42 22 90 Other cash 204 8 23 8 24 12 29 29 11 7 16 13 24 Discounts and advances 2,037 73 832 71 133 92 11 479 11 15 45 128 147 Acceptances: Bought outright 34 34 MM _ . _ _ —— mm a» —— __ — mm Held under repurchase agreements 98 _ w 98 _ — — — _.. —— ^^ *• mm Federal Agency obligations-- Held under repurchase agreements 172 -- 172 -- -- -- -- -- -- ~_ _- __ ~- U. S. Government securities: Bought outright— Bills 22,364 1,139 5,550 1,144 1,732 1,685 1,218 3,687 817 424 857 962 3,149 Certificates Notes 32,420 1,652 8,044 1,658 2,510 2,443 1,766 5,345 1,184 615 1,243 1 ,395 4,565 Bonds 2,887 147 716 148 224 218 157 476 105 55 111 124 406 Total bought outright \j 57,671 2,938 •L 4,310 2,950 4,466 4,346 3,141 9,508 2,106 1,094 2,211 2 ,481 8,120 Held under repurchase agreements ~~ 996 -- 996 — -- -- -- --. -- ... .. -._ __ Total U. S. Government securities 58,667 2.938 15.306 2.950 4.466 4.346 3.141 9-508 2.106 l 094 2 211 ZJL 481 8,120 f r r Total loans and securities 61,008 3,011 16,442 3,021 4,599 4,438 3,152 9,987 2,117 1,109 2,256 2 ,609 8,267 Cash items in process of collection 14,017 775 2,325 775 1,070 1,056 1,361 2,330 724 521 942 808 1,330 Bank premises 121 2 9 2 9 11 17 17 11 8 18 8 9 Other assets 2/ 1,112 56 437 47 73 64 51 139 31 17 34 42 121 TOTAL ASSETS 88,551 4,647 :2 1,366 4,592 6,907 6,695 5,344 ]L 4,697 3,321 1,927 3,779 3 ,958 11,318 1/ Includes $23 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 15, 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 48,997 2,837 11,427 2,794 3,987 4,373 2,617 8,607 1,859 859 1,833 1,812 5,992 Deposits: Member bank reserves 24,218 934 6,706 977 1,762 1,149 1,382 3,850 769 561 963 1,305 3,860 U. S. Treasurer—general account 1,133 70 286 64 57 126 53 53 54 35 146 60 129 Foreign 173 9 1/ 41 9 16 9 12 27 6 4 7 10 21 Other 696 * 7/616 22 1 13 4 7 2 2 6 2 2 Total deposits 26,220 1,013 7,649 1,072 1,836 1,297 1,451 3,937 831 602 1,122 1,377 4,033 Deferred availability cash items 11,191 695 1,706 619 904 901 1,146 1,830 558 421 738 661 1,012 Other liabilities and accrued dividends 622 30 180 30 46 43 32 96 71 11 J-\ 75 ftS TOTAL LIABILITIES 87,030 4,575 20,962 4,515 6,773 6,614 5,246 14,470 3,269 1,893 3,716 3,875 11,122 CAPITAL ACCOUNTS Capital paid in 686 32 183 35 61 35 45 101 23 16 29 39 87 Surplus 669 32 177 34 60 34 43 99 23 15 28 37 87 Other capital accounts 166 8 44 8 13 12 10 27 6 3 6 7 22 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 88,551 4,647 21,366 4.592 6.907 6.695 5.344 14.697 3.321 1.927 3.779 3.958 11.318 i Contingent liability on ace: eptances purchased for foreign _ correspondents 238 12 3/ 63 12 21 12. 16 31 8_ L 12_ L2_ 2I_ FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,931 11,941 2,861 4,156 4,503 2,775 8,858 1,931 886 1,907 1,932 6,306 Collateral for F. R. notes: Gold certificate account 250 500 300 510 580 1,000 155 22 — 5 Eligible paper U. S. Government secufitivs 2,730 11,600 2,700 3.750 3,970 2.900 8.250 1.830 875 1.975 1.980 6.500 Total collateral 2,980 12,100 3,000 4,260 4,550 2,900 9,250 1,985 897 1,975 1,985 6,500 1/ After deducting $ 132 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 175 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis