H.4.1 Factors Affecting Reserve Balances of Depository Institutions

o'qvcovfc.'.. F E D E R AL R E S E R VE Factors Affectiig Bank Rtstrvts and '•ffUKEf> Condition Statement of F.R. Banks H.4.1 For immediate release July 23, 1970 The average of daily figures of total reserves of member banks increased $117 million in the latest week to $28,343 million. Required reserves increased while both excess reserves and member bank borrowings at Federal Reserve Banks decreased. Factors draining reserves in this latest statement week did so by relatively minor amounts. However, several factors supplied significant amounts of reserves. An increase in float of $453 was the major source of reserves. This rise in float which followed a sizeable decline in float for the previous week was considerably greater than seasonal. Other factors supplying reserves included a seasonal decline in currency in circulation, a decline in Treasury deposit with Federal Reserve Banks and a decrease in other Federal Reserve liabilities and capital. In addition, the System supplied $110 million in reserves net, on a weekly average basis through both outright sales and repurchase agreements. Member bank borrowings declined for the first time in several weeks and exceeded excess reserves by $1,239 million compared to the revised figure of $1,485.million for the previous week. Averas: es of daily figures Member bank reserves, Week ended Chang e from week ended Wednesday Reserve Bank credit, July 22, Ju iy is, 1J uly 23, July 22, and related items 1970 1970 1 1969 1970 Reserve Bank credit: (I«t millions of dollars) U.S. Government securities- Bought outright--Systera account 58,309 + 638 +4,148 1/2/58,138 Held under repurchase agreements 188 - 444 + 165 -- Federal Agency obligations-- Held under repurchase agreements 38 61 + 33 — Acceptances Bought outright 33 . 1 7 37 Held under repurchase agreements 41 - 22 + 38 — Discounts and advances-- Member bank borrowings 1,387 _ 293 + 33 1,175 Other 83 - 7 + 83 40 Float 3,148 + 453 + 3 2,678 Other F. R. assets 1,257. + 7 ^1,377 1,284 Total Reserve Bank credit 64,485 + 271 +3,120 63,352 Gold stock 11,367 — +1,000 11,367 Special Drawing Rights certif. acct. 400 -- + 400 400 Treasury currency outstanding 6,990 + 2 + 255 6,991 83,241 + 273 +4,774 82,110 Currency in circulation 54,747 - 243 +3,539 54,719 Treasury cash holdings 455 + 18 - 206 461 Treasury deposits with F. R. Banks 1,036 - 161 - 148 981 Foreign deposits with F. R. Banks 181 - 44 + 44 180 Other deposits with F. R. Banks 748 + 6 + 291 770 Other F. R. liabilities and capital 2,170 - 112 + 207 2,182 Member bank reserves: 59,337 - 536 +3,726 59,293 With Federal Reserve Banks 23,904 + 808 +1,047 22,817 Currency and coin 4,439 - 691 + 132 4,439 Total reserves held 28,343 + 117 +1,179 27,256 Required reserves 28,195 + 164 +1,413 28,195 Excess reserves 148 - 47 - 234 - 939 NOTE: A net of $119 million of surplus reserves were eligible to be carried forward from the week ended July 15, into the week ending July 22. 1/ Reflects $200 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $39 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On July 22, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $11,239 million, an increase of $63 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 22, July 15, July 23, 1970 1970 1969 A S S E TS Gold certificate account 11,045 +1,018 Special Drawing Rights certif. accts. 400 4- 400 Cash (771) 203 1 + 44 Discounts and advances 1,215 822 + 198 Acceptances: Bought outright 37 3 Held under repurchase agreements 98 Federal Agency obligations-- Held under repurchase agreements 172 U. S. Government securities : Bought outright— Bills 22,831 +3,858 467 Certificates Notes 32,420 +1,867 Bonds 2,887 -1,256 Total bought outright U y 58,138 4- 467 +4,469 Held under repurchase agreements - 996 Total U. S. Government securities 58,138 529 +4,469 Total loans and secur-it-fes 59,390 •1,618 +4,663 Cash items in process of collection (2*785) 10,113 •1,129 +1,593 Bank premises + 7 121 Other assets jty 51 -1,394 1J63 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,556) 82,435 -2,697 +6,331 it I A 1 III II 1 JL S. Federal Reserve notes (771) 48,070 283 +3,115 Deposits: Member bank reserves 22,817 -1,471 +1,499 U. S. Treasurer--general account 981 - 152 - Ill Foreign 180 + 7 + 42 Other 4/ 770 + 74 + 319 Total deposits 24,748 -1,542 +1,749 Deferred availability cash items (2,785) 7,435 - 911 +1,262 Other liabilities and accrued dividends 592 30 + 130 TOTAL LIABILITIES (3,556) 80,845 -2,766 +6,256 £ £ P I T A L A C C O U N TS Capital"~paid in ""* ~" 686 WM + 24 Surplus 669 — + 39 Other capital accounts 235 + 69 + 12 Contingent liability on acceptances purchased for foreign correspondents 239 + 1 + 85 * Figures in parentheses are the eliminations made in the consoldating process. 1/ Reflects $200 million of securities sold, and scheduled to be bought back, under matched sale-purchase transations. y Includes $39 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. 47 Includes IMF gold deposit. _ _ _ _ __ _ -_ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 22, 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 1,168 7 2,824 -606 16 days to 90 days 47 30 10,121 -397 91 days to 1 year -- • • 13,860 +302 Over 1 year to 5 year'sS — 25,395 -- Over 5 years to 10 ye»aarrss -- 5,314 -._ Over 10 years -- — 624 — Total 1>2 15 37 58,138 •701 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 22, 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 11,045 773 2,419 573 844 931 599 1,905 390 182 520 429 1,480 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 771 62 172 47 50 67 114 26 28 28 41 29 107 Other cash 203 8 24 7 24 12 29 28 12 6 16 13 24 Discounts and advances ! 1,215 47 176 85 151 93 39 458 13 52 26 56 19 Acceptances: Bought outright 37 37 Held under repurchase agreements Federal Agency obligations-- Held under repurchase agreements U. S. Government securities: Bought outright— Bills 22,831 1,163 5,665 1,168 1,768 1,721 1,244 3,764 834 432 875 982 3,215 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 \l 2/ 58,138 2,962 14,425 2,974 4,502 4,382 3,167 9,585 2,123 1 ,102 2 ,229 2 ,501 8,186 Held under repurchase agreements Total U. S. Government securities 58,138 2,962 14,425 2,974 4,502 4,382 3,167 9,585 2,123 1 ,102 2, 229 2 ,501 8,186 Total loans and securities 59,390 3,009 14,638 3,059 4,653 4,475 3,206 10,043 2,136 1 ,154 2 ,255 2 ,557 8,205 Cash items in process of collection 12,898 721 2,126 745 938 944 1,230 2,161 634 517 851 766 1,265 Bank premises 121 2 9 2 9 11 17 17 11 8 18 8 9 Other assets 3/ 1,163 58 453 51 75 67 54 146 33 20 35 45 126 TOTAL ASSETS 85,991 4,656 19,934 4,507 6,626 6,543 5,271 14,396 3,259 1 ,922 3 ,751 3 ,861 11,265 1/ Reflects $200 million of securities sold, and scheduled to be bought back, under matched sale - purchase transactions. 2/ Includes $39 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 JULY 22, 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 48,841 2,815 11,429 2,775 3,981 4,353 2,588 8,607 1,853 856 1,819 1,811 5,954 Deposits: Member bank reserves 22,817 1,015 5,566 958 1,567 1,183 1,423 3,633 759 548 i,028 1,269 3,868 U. S. Treasurer—general account 981 54 149 68 60 61 75 76 56 47 120 59 156 Foreign 180 9 1/ 48 9 16 9 12 27 6 4 7 10 23 Other 770 * "J/708 6 1 13 3 7 2 2 6 2 20 Total deposits 24,748 1,078 6,471 1,041 1,644 1,266 1,513 3,743 823 601 1,161 1,340 4,067 Deferred availability cash items 10,220 658 1,466 581 816 794 1,036 1,712 508 417 682 599 951 Other liabilities and accrued dividends 592 30 146 29 46 44 32 95 21 13 24 25 87 TOTAL LIABILITIES 84,401 4,581 19,512 4,426 6,487 6,457 5,169 14,157 3,205 1,887 3,686 3,775 11,059 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 235 11 62 12 18 17 14 39 8 4 8 10 32 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 85,991 4,656 19,934 4,507 6,626 6,543 5,271 14,396 3,259 1,922 3,751 3,861 11,265 Contingent liability on accept ances purchased for foreign correspondents 239 12 3/ 63 12 21 12 16 35 8 5 10 14 31 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 51,052 2,920 11,953 2,852 4,158 4,502 2,763 8,895 1,943 885 1,911 1,955 6,315 Collateral for F. R. notes: Gold certificate account 3,322 250 500 300 510 580 .1,000 155 22 5 U. S. Government securities 49,110 2,730 11,600 2,700 3,750 3,970 2,900 8,250 1,880 875 1,975 1,980 6,500 Total collateral 52,432 2,980 12,100 3,000 4,260 4,550 2,900 9,250 2,035 897 1,975 1,985 6,500 1/ After deducting $132 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ Includes IMF gold deposit. 3/ After deducting $176 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis