H.4.1 Factors Affecting Reserve Balances of Depository Institutions

qi£ovA" 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 August 13, 1970 The average of daily figures of total reserves of member banks increased $420 million in the latest week to $28,535 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. Factors absorbing and supplying reserves were of modest size for the most part in this latest statement week. A somewhat greater than seasonal rise in currency in circulation of $311 million was the only major factor draining reserves. This reserve absorption was offset by System Open Market operations which provided $427 million in reserves net, on a weekly average basis, through repurchase agreements and outright sales. Member bank borrowings from the Federal Reserve Banks increased slightly but remained below the average of the last four weeks and exceeded excess reserves by $945 million compared to the revised figure of $854 million for Lhe previous week. Averas: es o f daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Aug. 12, Aug. 5, Aug. 13, Aug. 12, and related items 1970 1970 1969 1970 Reserve Bank credit: (Ini millions of: dollars) U.S. Government securities— Bought outright--System account 58,826 + 266 +4,759 1/58,850 Held under repurchase agreements 443 '- 196 + 10 393 Federal Agency obligations— Held under repurchase agreements 5 28 26 — Acceptances Bought outright 36 1 4 37 Held under repurchase agreements 4 6 18 — Discounts and advances-- Member bank borrowings 1,173 -l- 164 - 156 425 Other 39 - 1 •I- 39 35 Float 2,354 - 49 + 107 2,204 Other F. R. assets 1,403 4- 49 -1,237 1,424 Total Reserve Bank credit 64,284 -1- 590 +3,475 63,368 Gold stock 11,167 -- +1,000 11,367 Special Drawing Rights certif. acct. 400 -- + 400 400 Treasury currency outstanding 7,002 + 4 + 264 7,003 83,052 + 593 +5,138 82,138 Currency in circulation 54,898 .L 311 +3,465 55,060 Treasury cash holdings 450 - 11 - 209 446 Treasury deposits with F. R. Banks 996 - 58 28 1,043 Foreign deposits with F. R. Banks 171 - 19 + 28 207 Other deposits with F. R. Banks 866 -J. 76 + 402 916 Other F. R. liabilities and capital 2,355 + 18 + 253 2,111 Member bank reserves: 59,735 + 318 +3,911 59,783 With Federal Reserve Banks 23,317 + 276 +1,227 22,355 Currency and coin 5,218 'i- 144 + 348 5,218 Total reserves held 28,535 + 420 +1,575 27,573 Required reserves 28,307 + 347 +1,680 28,307 Excess reserves 228 + 73 - 105 - 734 NOTE: A net of $138 million of surplus reserves were eligible to be carried forward from the week ended August 5, into the week ending August 12. 17 Includes $3 million securities loaned--fully secured by U. S. Government securities pledged with Federal Reserve Banks. On August 12, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $12,130 million, an increase of $2 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 dollsi rs) Wednesday Change since Aug. 12, Aug. 5, Aug. 13, 1970 1970 1969 A S S E TS Gold certificate account 11,045 +1,018 Special Drawing Rights certif. acctss.. * 400 + 400 Cash (757) 209 + 2 + 56 Discounts and advances 460 - 183 + 90 Acceptances: Bought outright 37 4 Held under repurchase agreements - 38 Federal Agency obligations-- Held under repurchase agreements - 161 «. ., U. S. Government securities : Bought outright-- Bills 23,543 + 253 44,405 Certificates Notes 32,420 +1,867 Bonds 2,887 -1,256 Total bought outright 1/ 58,850 + 253 +5,016 Held under repurchase agreements 393 - 439 + 280 Total U, S. Government securities 59,243 - 186 +5,296 Total loans and securities 5§,740 - 568 +5;382 Cash items in process of collection (2,356) 9,541 - 195 + 158 Bank premises 122 + 1 + 8 Other assets 2/ 1,302 + 31 -1,258 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,113) 82,359 - 729 +5,764 Federal Reserve notes (757) 48,390 197 +3,132 Deposits: Member bank reserves 22,355 -1, 135 +1,849 U. S. Treasurer—general account 1,043 + 289 - 57 Foreign 207 + 38 + 66 Other 3y 916 + 112 + 430 Total deposits 24,521 - 696 +2,288 Deferred availability cash items (2,356) 7,337 + 15 + 155 Other liabilities and accrued dividends 616 - 11 + 132 TOTAL LIABILITIES ~ (3,113) 80,864 - 495 +5,707 £ A 1 1 1 A h A C C O U N TS Capital paid in 688 + 1 + 24 Surplus 669 -- + 39 Other capital accounts 138 - 235 6 Contingent liability on acceptances purchased for foreign correspondents 259 2 + 98 Figures in parentheses are the eliminations ntade in the conso lidating process. 1/ Includes $3 million securities loaned — fully secured by U. S. Government securities pledged with Federal Reserve Banks. y Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, August 12, 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 456 4 3,674 -532 16 days' tO"^ days 4 '33 10,363 + 94 91 days to 1 year -- -- 13,873 + 91 Over 1 year to 5 years -- -- 25,395 -« Over 5 years to 10 year*3 __ 5,314 — i Over 10 years -- -- 624 -- Total 460 37 59,243 -347 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 12, 1970 San New Phila Cleve Rich St. Minne Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) A S S E TS Gold certificate account 11,045 560 2,064 620 1,001 1,002 513 2,347 347 149 401 652 1,389 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 757 73 164 63 52 51 126 30 21 30 41 18 88 Other cash 209 8 23 9 24 13 29 29 12 7 16 14 25 Discounts and advances 460 16 60 4 82 13 6 155 8 80 5 26 5 Acceptances: Bought outright 37 -- 37 — — -- -- — -- -- — -- -- Held under repurchase agreements — -- -- -- — -- -- -- -- -- -- -- -- Federal Agency obligations— Held under repurchase agreements -- U. S. Government securities: Bought outright— Bills 23,543> 1,201 6,024 1,186 1,799 1,765 1,274 3,775 856 469 927 974 3,293 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 r Total bought outright 1/ 58,850 3,002 L5,059 2,964 4,497 4,411 3,185 9,435 2,140 ,172 2,318 2 ,436 8,231 Held under repurchase agreements 393 -- 393 -- -- 3 _ _ -- -- -- -- -- -- -r Total U. S. Government securities 59,243 3,002 15,452 2,964 4,497 4,411 3,185 9,435 2,140 dll. 2,318 2 ,436 8,231 Total loans and securities 59,740 3,018 'L 5,549 2,968 4,579 4,424 3,191 9,590 2,148 i ,252 2,323 2 ,462 8,236 Cash items in process of collection 11,897 694 1,928 690 861 912 1,213 1,908 627 455 804 726 1,079 Bank premises 122 2 9 2 10 11 17 17 11 8 18 8 9 Other assets 2/ 1,302 66 491 60_ 84 77 63. 165 37_ 23 43_ 48 145 TOTAL ASSETS 85,472 4,444 :2 0,321 4,435 6,644 6,526 5,174 14,156 3,218 i ,931 3,661 3 ,942 11,020 ." — ^— i — ^— m m m— — — — • —M 1/ Includes $3 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 12, 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 49,147 2,816 11,498 2,774 4,015 4,368 2,594 8,669 1,866 859 1,838 1,834 6,016 Deposits: Menber bank reserves 22,355 847 5,952 937 1,600 1,122 1,324 3,441 705 598 867 1,339 3,623 U. S. Treasurer—general account 1,043 44 147 69 69 116 62 68 52 38 164 57 157 Foreign 207 10 1/ 57 10 18 10 13 30 7 5 9 11 27 Other 916 3 2/763 11 2 15 12 64 7 3 6 8 22 Total deposits 24,521 904 6,919 1,027 1,689 1,263 1,411 3,603 771 644 1,046 1,415 3,829 Deferred availability cash items 9,693 622 1,351 530 762 771 1,040 1,565 508 381 691 586 886 Other liabilities and accrued dividends 616 31 155 28 47 45 33 96 22 13 24 25 97 TOTAL LIABILITIES 83,977 4,373 19,923 4,359 6,513 6,447 5,078 13,933 3,167 1,897 3,599 3,860 10,828 CAPITAL ACCOUNTS Capital paid in 688 32 183 35 61 35 45 101 24 16 29 39 88 Surplus 669 32 177 34 60 34 43 99 23 15 28 37 87 Other capital accounts 138 7 38 7 10 10 8 23 4 3 5 6 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 85,472 4,444 20,321 4,435 6,644 6.526 5.174 14.156 3.218 1.931 3.661 3.942 11.020 Contingent liability on ace: eptances purchased for foreign correspondents 259 12 3/ 68 13 23 13 17 38_ 9 6_ U_ 15_ 34 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,917 11,994 2,840 4,188 4,490 2,747 8,951 1,947 891 1,926 1,970 6,325 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 1,880 885 1.975 2.030 6.500 Total collateral 2,980 12,100 3,000 4,260 4,550 2,900 9,250 2,035 907 1,975 2,035 6,500 1/ After deducting $ 150 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $ 191 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis