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 '•.f^Ltt^- Condition Statement of F.R. Banks H.4.1 For immediate release August 6, 1970 The average of daily figures of total reserves of member banks declined $64 million in the latest week to $28,091 million. Both required reserves and member bank borrowings at Federal Reserve Banks decreased while excess reserves increased by a modest amount. Reserves were absorbed in this latest statement week by a somewhat greater than seasonal decline in float and a rise in other Federal Reserve liabilities and capital. Additional reserves were drained by a seasonal increase in currency in circulation. These reserve declines were more than offset by System Open Market operations which supplied $583 million in reserves on a weekly average basis through outright sales and repurchase agreements in approximately equal amounts. Member bank borrowings averaged lower than in the past four weeks and exceeded excess reserves by $878 million compared to the revised figure of $1,137 million for the previous week. Averas' es of daily figures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, Aug. 5, July 29, Aug. 6, Aug. 5, and related items 1970 1970 1969 1970 Reserve Bank credit: (ITi millions of: dollars) U.S. Government securities— ! 1/ Bought outright—System account 58,560 + 293 +4,422 58,597 Held under repurchase agreements 247 + 247 - 184 832 Federal Agency obligations— Held under repurchase agreements 33 i_ 33 15 161 Acceptances Bought outright 37 -- 3 37 Held under repurchase agreements 10 10 12 38 Discounts and advances-- Member bank borrowings 1,009 , 222 81 603 Other 40 -- -!- 40 40 Float 2,379 199 + 151 2,369 Other F. R. assets 1,354 + 47 -1,251 1,392 Total Reserve Bank credit 63,669 + 210 -1-3,067 64,069 Gold stock 11,367 -- +1,000 11,367 Special Drawing Rights certif. acct. 400 + 400 400 Treasury currency outstanding 6,998 + 5 + 259 6,999 82,435 + 215 +4,726 82,835 Currency in circulation 54,587 + 99 +3,467 54,848 Treasury cash holdings 461 + 1 - 202 459 Treasury deposits with F. R. Banks 1,054 - 5 + 187 754 Foreign deposits with F. R. Banks 190 + 17 + 37 169 Other deposits with F. R. Banks 790 + 32 + 314 804 Other F. R. liabilities and capital 2,337 + 120 + 219 2,356 59,417 + 262 +4,020 59,390 Member bank reserves: With Federal Reserve Banks 23,017 - 48 + 704 23,445 Currency and coin 5,074 - 16 + 345 5,074 Total reserves held 28,091 - 64 +1,049 28,519 Required reserves 27,960 - 101 +1,169 j 27,960 Excess reserves 131 + 37 - 120 1 559 NOTE: A net of $141 million of surplus reserves were eligible to be carried forward from the week ended July 29, into the week ending August 5. \J Includes $21 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On August 5, 1970, U. S. Government securities held in custody by the Federal Reserve Bank for foreign account were $12,128 million, an increase of $402 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 Aug. 5, July 29, ' Aug. b, 1970 1970 1969 A S S E TS Gold certificate account 11,045 -- +1,018 Special Drawing Rights certif. accts. 400 — + 400 Cash (787) 207 + 5 + 53 Discounts and advances 643 - 173 - 509 Acceptances: 37 -- 4 Bought outright Held under repurchase agreements 38 38 8 Federal Agency obligations— Held under repurchase agreements 161 161 91 U, S. Government securities : Bought outright— Bills 23,290 259 +3,848 Certificates Notes 32,420 +1,867 Bonds 2,887 -1,256 Total bought outright 1/ 58,597 + 259 +4,459 Held under repurchase agreements 832 •f 832 + 159 Total U. S. Government securities 59,429 +1,091 +4,618 Total loans anfl securities 60,308 +1,117 +4,188 Cash items in process of collection (2,351) 9,691 + 617 + 529 Bank premises 121 -- + 7 Other assets 2/ 1,271 + 62 -1,231 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,138) 83,043 +1,801 +4,964 L I A B I L I T I ES Federal Reserve notes (787) 48,193 261 +3,060 Deposits: Member bank reserves 23,445 +1, 124 + 687 U. S. Treasurer--general account 754 - 284 + 169 Foreign 169 - 2 + 16 Other 3/ 804 + 37 + 336 Total deposits 25,172 + 875 +1,208 Deferred availability cash items (2,351) 7,322 + 543 + 488 Other liabilities and accrued dividends 627 + 52 + 115 TOTAL LIABILITIES (3,138) 81,314 +1, 731 +4,871 C A P I T AL A C C O U N TS Capital paid in 687 1 + 25 Surplus 669 — + 39 Other capital accounts 373 69 + 29 Contingent liability on acceptances purchased for foreign correspondents 261 22 100 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Includes $21 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, AUGUST 5, 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 598 4,206 :4,060 ^ 16 days to 90 days 45 33 10,269 + 170 91 days to 1 year — -- 13,782 + 22 Over 1 year to 5 year•ss — 25,395 Over 5 years to 10 yejaarrss — 5,314 Over 10 years — — 624 Total 643 37 59,590 +1,252 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 AUGUST 5, 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 11,045 816 1,499 701 910 897 570 2,069 451 230 537 539 1,826 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 787 75 163 72 59 54 124 30 20 33 41 23 93 Other cash 207 8 23 8 25 13 30 28 12 7 16 13 24 Discounts and advances 643 53 68 15 114 10 14 252 35 40 7 26 9 Acceptances: 37 -- 37 -- -- — -- -- -- -- -- . T-- Held under repurchase agreements 38 -- 38 -- -- -- -- -- — -- -- -- Federal Agency obligations-- Held under repurchase agreements 161 161 U. S. Government securities: Bought outright— Bills 23,290 1,188 5,959 1,174 1,779 1,746 1,261 3,734 847 464 917 964 3,257 Certificates -_ -- -- -- -- -- -- -- -- -- -- -_ _- Notes 32,420 1,654 8,296 1,633 2,477 2,430 1,755 5,197 1,179 646 1,277 1 ,342 4,534 Bonds 2,887 147 739 145 221 216 156 463 105 57 114 120 404 Total bought outright \J 58,597 2,989 14,994 2,952 4,477 4,392 3,172 9,394 2,131 1,167 2,308 2 ,426 8,195 Held under repurchase agreements 832 -- 832 — -- -- -- — -- — — -- -- Total U. S. Government securities 59,429 2,989 15,826 2,952 4,477 4,392 3,172 9,394 2,131 1,167 2,308 Z~, 426 8,195 Total loans and securities 60,308 3,042 16,130 2,967 4,591 4,402 3,186 9,646 2,166 1,207 2,315 2 ,452 8,204 Cash items in process of collection 12,042 671 2,225 704 834 885 1,128 1,955 609 468 743 712 1,108 Bank premises 121 2 9 2 9 11 17 17 11 8 18 8 9 Other assets 2/ 1,271 64 478 58_ 82 73 57 167 36 21 41 56 138 TOTAL ASSETS 86,181 4,701 20,620 4,535 6,543 6,371 5,134 L3,982 3,320 1,981 3,726 3 ,817 11,451 . — i in ir ii • - •*• \J Includes $21 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks, 2/ Includes assets denominated in foreigh 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 AUGUST 5, 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 48,980 2,809 11,472 2,760 3,994 4,364 2,587 8,638 1,859 856 1,831 1,818 5,992 Deposits: Member bank reserves 23,445 1,119 6,244 1,039 1,561 1,017 1,387 3,357 721 650 927 1,284 4,139 U. S. Treasurer--general account 754 2 110 45 44 94 53 41 91 37 146 36 55 Foreign 169 8 1/ 44 9 15 9 11 25 6 4 7 9 22 Other 804 1 2/728 5 3 12 4 14 3 6 4 3 21 Total deposits 25,172 1,130 7,126 1,098 1,623 1,132 1,455 3,437 821 697 1,084 1,332 4,237 Deferred availability cash items 9,673 649 1,392 560 730 734 951 1,549 559 378 717 550 904 Other liabilities and accrued dividends 627 31 173 29 46 45 32 96 22 12 24 25 92 TOTAL LIABILITIES 84,452 4,619 20,163 4,447 6,393 6,275 5,025 13,720 3,261 1,943 3,656 3,725 11,225 CAPITAL ACCOUNTS Capital paid in 687 32 183 35 61 35 45 101 23 16 29 39 88 Surplus 669 32 177 34 60 34 43 99 23 15 28 37 87 Other capital accounts 373 18 97 19 29 27 21 62 13 7 13 16 51 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 86,181. 4,701 20,620 4,535 6,543 6,371 5,134 13,982 3,320 1,981 3,726 3,817 11,451 Contingent liability on ac(: eptances purchased for fore]i- gn correspondents ;..„._26i_ ^ 12 11 69 _____ ________ 23 _______ 17 39 9 6 1_1_ 15 34 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,927 12,001 2,833 4,186 4,491 2,742 8,945 1,946 887 1,935 1,968 6,316 Collateral for F. R. notes: Gold certificate account 250 500 300 510 580 1,000 155 22 — 5 U. S. Government securities 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 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 $ 125 million participations of other Federal Reserve Banks. __/ Includes IMF gold deposit. __/ After deducting $192 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis