H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks '••f^URE^.' H.4.1 For immediate release August 27, 1970 The average of daily figures of total reserves of member banks decreased $368 million in the latest week to $28,161 million. Excess reserves increased while required reserves and member bank borrowings at Federal Reserve Banks both declined. Several factors were sources of sizeable reserve gains in this latest statement week. A greater than seasonal decline in currency in circulation provided $215 million in reserves. Declines both in Treasury deposits with Federal Reserve Banks and in other deposits with Federal Reserve Banks supplied additional reserves. These reserve increases were in part offset by declines in float and in other Federal Reserve assets. In addition, System Open Market operations absorbed $322 million in reserves net, on a weekly average basis. Member bank borrowings remained at about the same level as in the past week and exceeded excess reserves by $535 million compared to the revised figure of $598 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Aug. 26, Aug. 19, I Aug. 27, Aug. 26, and related items 1970 1970 1969 1970 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 59,679 + 209 +5,196 1/ 59,618 Held under repurchase agreements 452 68 Federal Agency obligations- Held under repurchase agreements 50 8 Acceptances Bought outright 37 — 4 37 Held under repurchase agreements — 29 6 Discounts and advances-- Member bank borrowings 660 _ 20 - 544 1,044 Other 7 - 18 + 7 Float 2,481 - 177 + 299 2,349 Other F. R. assets 1,068 - 231 -1,647 Total Reserve Bank credit 63,931 - 770 +3,224 64, 135 Gold stock 11,367 -- +1,000 11, 367 Special Drawing Rights certif. acct. 400 — + 400 400 Treasury currency outstanding 7,011 + 5 + 273 7 ,013 82,709 - 765 +4,897 82,915 Currency in circulation 54,702 - 215 +3,408 54,730 Treasury cash holdings 451 + 9 - 231 463 Treasury deposits with F. R. Banks 1,045 - 124 + 150 937 Foreign deposits with F. R. Banks 187 + 8 + 48 189 Other deposits with F. R. Banks 786 - 135 + 322 749 Other F. R. liabilities and capital 2,231 + 56 + 198 2,252 Member bank reserves: 59,402 - 402 +3,895 59,320 With Federal Reserve Banks 23,307 - 364 +1,001 23,596 Currency and coin 4,854 - 4 + 251 4,854 Total reserves held 28,161 - 368 +1,252 28,450 Required reserves 28,036 - 411 +1,339 28,036 Excess reserves 125 + 43 - 87 414 NOTE: A net of $82 million of surplus reserves were eligible to be carried forward from the week ended August 19, into the week ending August 26. 1/ Includes $27 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On August 26, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $12,452 million, an increase of $253 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. 26, Aug. 19, Aug. 27, 1970 1970 1969 A S S E TS Gold certificate account 11,045 -- +1,018 Special Drawing Rights certif. accts. * 400 -- + 400 Cash (905) 211 + 2 + 62 Discounts and advances 1,044 + 198 - 421 Acceptances: 37 .«. 3 Bought outright Held under repurchase agreements — «, 30 20 Federal Agency obligations- Held under repurchase agreements 21 27 U. S. Government securities : Bought outright-- Bills 24,311 110 +4-, 326 Certificates Notes 32,600 +2,047 Bonds 2,707 -1,436 Total bought outright 1/ 59,618 110 44,937 Held under repurchase agreements ~~ 244 - 219 Total U. S. Government securities 59j_618 - 134 +4,718 Total loans and securities + 13 44,247 Cash items in process of collection (2,581) -1,008 + 573 Bank premises + 8 Other assets 2/ 120 -1,637 +416/1 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,486) L I A i l t l l l Es (905) 48,068 193 +2,872 Federal Reserve notes Deposits: 23,596 + 65 +1,005 Member bank reserves 937 - 104 16 U. S. Treasurer--general account 189 + 17 .+ 51 Foreign 749 - 128 + 267 Other 3/ 25,471 - 150 +1,307 Total deposits (2,581) 6,734 - 829 + 299 Deferred availability cash items 614 - 14 + 111 Other liabilities and accrued dividends TOTAL LIABILITIES (3,486) 80,887 -1,186 +4,589 £ £ £ 11 ^1 £ £ £ £ £ N TS Capital paid TrT ~ 688 __ + 24 Surplus 669 -- + 39 Other capital accounts 281 <- 73 + 19 Contingent liability on acceptances purchased for foreign correspondents 255 -- + 96 * Figures in parentheses are the eliminations made in the condolidating process. 1/ Includes $27 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 26. 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 Holdin„g s Weekly changes Within 15 days 1,041 16 3,189 -368 16 days to 90 days 3 21 11,655 +303 91 days to 1 year -- — 13,420 - 90 Over 1 year to 5 years — — 25,266 Over 5 years to 10 years — — 5,464 Over 10 years — — 624 -- Total 1,044 37 59,618 "^B5* 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 26, .970 ™*San New Phila Cleve Rich St. 1 Minne- Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apcl is City 1 cisco • (In millions of dollars) A S S E TS Gold certificate account 11,045 730 2,274 600 989 962 556 2,204 379 243 454 711 943 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks | 905 96 179 75 52 66 152 40 30 38 46 25 106 Other cash 211 8 24 10 24 14 29 30 12 7 15 13 25 Discounts and advances 1,044 15 481 23 65 26 16 206 11 3 8 14 176 Acceptances: Bought outright 37 -- 37 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements ' -- -- -- — -- -- -- -- -- — -- -- Federal Agency obligations-- Held under repurchase agreements i __ -- -- -- -- -- -- -- _- U. S. Government securities: Bought outright— Bills 24,311 1,240 6,221 1,225 1,857 1,823 1,316 3,898 884 484 957 1,006 3,400 Certificates __ -- -- -- -- — -- -- -- -- -- — -- Notes 32,600 1,663 8,342 1,643 2,491 2,443 1,764 5,226 1,185 649 1,284 1,350 4,560 Bonds 2,707 138 693 136 207 203 147 434 98 54 107 112 378 Total bought outright 1/ 59,618 3,041 15,256 3,004 4,555 4,469 3,227 9,558 2,167 _ ,187 2,348 2,468 8,338 Held under repurchase agreements ~~ __ -- -- „_ -- -- -- -- -- -- -- -- __ r Total U. S. Government securities 59,618 3,041~ 15,256 3,004 4,555~ 4","469~ 3,227 9,558 2,167 ,187 2,348 2,468 8,338 Total loans and securities 60,699 3,056 15,774 3,027 4,620 4,495 3,243 9,764 2,178 i ,190 2,356 2,482 8,514 Cash items in process of collection 11,664 686 1,977 612 864 837 1,159 1,866 543 431 794 777 1,118 Bank premises 122 2 9 2 10 11 17 17 11 8 18 8 9 Other assets 2/ 965 48 405 42 60 52 42_ 110 26 15 33_ 35 97 TOTAL ASSETS 86,011 4,649 20,735 4,391 6,652 6,473 5,220 14,101 3,194 i ,939 3,731 4,065 10,861 \J Includes $27 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

-He) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE HAHK CM AUGUST 26, 1970 San New Phila Cleve Rich | St. Minne Kansas Total Boston Atlanta 1Chicage 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 48,973 2,795 11,510 2,760 4,006 4,359 2,552 '8,651 1,855 853 1,836 1,831 5,965 Deposits: Member bank reserves 23,596 1,064 6,364 967 1,612 1,134 1,470 3,488 759 622 1,030 1,448 3,638 U. S. Treasurer—general account 937 52 142 56 67 104 86 65 50 31 119 60 105 Foreign 189 9 1/ 53 10 17 9 12 27 6 4 8 10 24 Other 749 1/683 2 3 15 2 11 3 4 4 3 19 Total deposits 25,471 i 1,125 7,242 1,035 1,699 1,262 1,570 3,591 818 661 1,161 1,521 3,786 Deferred availability cash items 9,315 620 1,391 483 757 718 961 1,516 443 376 642 600 808 Other liabilities and accnt ed dividends 614 32 157 30 47 44 33 97 22 13 24 25 90 TOTAL LIABILITIES 84,373 4,572 20,300 4,308 6,509 6,383 5,116 13,855 3,138 1,903 3,663 3,977 10,649 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 281 13 75 14 22 21 16 46 9 5 11 12 37 TOTAL LIABILITIES AND 86,011 4,649 20,735 4,391 6,652 6,473 5,22© 14,101 3,194 1,939 3,731 4,065 10,861 CAPITAL ACCOUNTS Contingent liability on acee ptances purchased for foreig n correspondents 255 12 U 67 13 23 13 16 38 9 6 11 14 33 FEDERAL RESERVE AUNTS' ACCOGTSTS F. R. notes outstanding 2,913 11,980 2,838 4,165 4,490 2,724 8,957 1,950 891 1,933 1,979 6,311 Collateral for F. R. notes: Gold certificate account 250 500 300 510 580 1,Q@Q 155 22 — 5 U. S. Government securities 2,730 11,600 2,700 33,750 3,970 2, 8.250 1.880 885 1,975 2,030 6,750 Total collateral 2,980 12,100 3,000 34,260 4,550 2, §,250 2,035 907 1,975 2,035 6,750 1/ After deducting $136 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $188 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis