H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Afftctiig Baik Rtstrvts aid ConditioM Stateneit tf F.I. links H.4.1 For immediate release September 3, 1970 The average of daily figures of total reserves of member banks increased $184 million in the latest week to $28,345 million. Required reserves and excess reserves both increased while member bank borrowings at Federal Reserve Banks were about unchanged from the level of the previous week. Factors supplying and absorbing reserves for the most part displayed only minor changes in the latest statement week. A greater than seasonal decline in float did absorb a sizeable amount of reserves. However, this float drain of $242 million was mostly offset by System Open Market operations which supplied $189 million in reserves net, on a weekly average basis. These reserves were provided largely through repurchase agreements, although some outright purchases were made toward the end of the statement week. Member bank borrowings remained at the level of the past two weeks and exceeded excess reserves by $471 million compared to $535 million for the previous week. Avera;r es of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. 2, Aug. 26, Sept. 3, Sept. 2, and related items 1970 1970 1969 1970 Reserve Bank credit: (Iri millions of dollars) U.S. Government securities— Bought outright—System account 59,710 + 31 +5,072 1/59,941 Held under repurchase agreements 133 + 133 + 2 332 Federal Agency obligations— Held under repurchase agreements 13 + 13 9 22 Acceptances Bought outright 36 1 4 39 mm Held under repurchase agreements 13 + 13 + 1 31 Discounts and advances— Member bank borrowings 661 + 1 • 579 843 Other 7 Float 2,239 _ 242 + 144 2,156 Other F. R. assets 1,109 + 41 -1,661 1,126 Total Reserve Bank credit 63,915 - 16 +2,966 64,490 Gold stock 11,367 -- +1,000 11,367 Special Drawing Rights certif. acct. 400 -- + 400 400 Treasury currency outstanding 7,032 + 21 + 278 7,040 82,714 + 5 +4,644 83,297 Currency in circulation 54,673 - 29 +3,174 54,857 Treasury cash holdings 461 + 10 - 217 471 Treasury deposits with F. R. Banks 1,041 - 4 + 173 967 Foreign deposits with F. R. Banks 160 - 27 + 12 151 Other deposits with F. R. Banks 761 " 25 + 299 757 Other F. R. liabilities and capital 2,311 + 80 + 190 i 2,358 59,407 + 5 +3,631 59,561 Member bank reserves: With Federal Reserve Banks 23,307 -- +1,012 , 23,736 Currency and coin 5,038 + 184 + 383 5,038 Total reserves held 28,345 + 184 +1,395 28,774 Required reserves 28,155 + 119 +1,607 | 28,155 Excess reserves 190 + 65 - 212 1 619 NOTE: A net of $94 million of surplus reserves were eligible to be carried forward from the week ended August 26, into the week ending September 2. 1/ Includes $21 million securities loaned--fully secured by U. S. Government securities pledged with Federal Reserve Banks. On September 2, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $12,458 million, and increase of $6 million for the week. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

R.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Sept. 2, Aug. 26, Sept. 3, 1970 1970 A S S E TS Gold certificate account 11. 045 -- +1,018 Special Drawing Rights certif. accts. * 400 -- + 400 Cash " (887) 213 + 2 + 69 Discounts and advances 843 - 201 + 145 Acceptances: Bought outright 39 + 2 1 Held under repurchase agreements 31 + 31 + 31 Federal Agency obligations-- Held under repurchase agreements 22 22 22 U. S. Government securities : Bought outright- Bills 24,634 f 323 +4,871 Certificates Notes 32,600 +2,047 Bonds 2,707 -- -1,436 Total bought outright 1/ 59,941 + 323 +5,482 Held under repurchase agreements 332 -f 332 + 332 Total U. S. Government securities 60,273 + 655 +5,814 Total loans and securities 61,208 + 509 +6,011 Cash items in process of collection (2,651) 9,581 + 468 + 395 Bank premises 122 -- + 9 Other assets 2j 1,004 + 39 -1,794 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,538) 83,573 +1, 018 +6,108 L I A B I L I T I ES Federal Reserve notes (887) 48,179 f 111 +2,697 Deposits: Member bank reserves 23,736 + 110 +2,16,8 U. S. Treasurer--general account 967 + 30 + 219 Foreign 151 - 38 27 Other V 757 + 8 + 244 Total deposits 25,611 + 110 +2,604 Deferred availability cash items (2,651) 7,425 + 691 + 594 Other liabilities and accrued dividends 655 + 41 + 123 TOTAL LIABILITIES (3,538) 81,870 + 953 +6,018 £ A112 A L A £ £ 2 £ N TS 689 1 + 26 Capital paid in Surplus 669 — + 39 Other capital accounts 345 64 + 25 Contingent liability on acceptances purchased for foreign correspondents 250 5 + 92 * Figures in parentheses are the eliminations made in the consoli dating process. \_l 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, SEPTEMBER 2. 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 839 41 2,754 -435 16 days to 90 days 4 29 12,444 +789 91 days to 1 year 13,743 +323 Over 1 year to 5 years 25,266 -- Over 5 years to 10 years 5,464 -_ Over 10 years J524 — Total 843 70 60,295 +677 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 SEPTEMBER 2, 1970 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco I (In millions of dollars) A S S E TS Gold certificate account 11,045 704 1,862 575 925 1,027 666 1,891 421 94 466 353 2,061 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 887 102 169 74 58 65 157 37 29 45 44 20 87 Other cash 213 8 23 11 24 13 29 31 12 7 15 13 27 Discounts and advances 843 20 302 i 76 11 4 217 19 31 8 24 130 Acceptances: Bought outright 39 __ 39 __ -_ __ -.— «... «. _ — — _ _ » _ m. «. Held under repurchase agreements 31 -- 31 __ -- — _ _. __ ..— — .. _ — — — — «. Federal Agency obligations— Held under repurchase agreements 22 - — 22 . _ . __ _ _ __ U. S. Government securities: Bought outright— Bills 24,634 ; 1,236 6,265 1,245 1,901 1,832 1,304 4,035 882 504 978 1 ,096 3,356 Certificates — — -- — — — -- -- -- — -- -- -- Notes 32,600 1,637 8,290 1,648 2,515 2,424 1,725 5,340 1,167 667 1,295 1 ,451 4,441 Bonds 2,707 136 688 137 209 201 143 444 97 56 107 120 369 Total bought outright 1/ 59,941 3,009 15,243 3,030 4.625 4,457 3,172 9,819 2,146 1,227 2,380 2 ,667 8,166 Held under repurchase agreements 332 -- 332 -- — — — -- -- -- -- -- Total U. S. Government securities 60,273 3,009 15,575 3,030 4,625 4,457 3,172 9,819 2,146 1,227 2,380 1 ~Mn~ 8,166 Total loans and securities 61,208 3,029 15,969 3,031 4,701 4,468 3,176 10,036 2,165 1,258 2,388 2 ,691 8,296 Cash items in process of collection 12,232 711 2,012 696 937 936 1,162 1,958 637 446 836 746 1,155 Bank premises 122 2 8 2 10 11 17 17 11 9 18 8 9 Other assets g/ 1,004 50 413 44_ 62 55 43 120 27. 17 33_ 38 102 TOTAL ASSETS 87,111 4,629 20,549 4,456 6,750 6,611 5,272 14,160 3,317 1,883 3,815 3 ,883 11,786 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. 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 SEPTEMBER 2, 1970 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (In nillions of dollars) L I A B I L I T I ES Federal Reserve notes 49,066 2,793 11,544 2,755 4,002 4,382 2,548 8,656 1,854 852 1,838 1,831 6,011 Deposits: Member bank reserves 23,736 1,002 5,945 944 1,681 1,152 1,472 3,423 787 545 1,072 1,295 4,418 U. S. Treasurer—general account 967 58 165 82 69 113 68 71 91 39 70 69 72 Foreign 151 7 1/ 41 8 13 8 10 22 5 3 6 8 20 Other 757 2 7/697 1 3 18 1 8 1 3 3 2 18 Total deposits 25,611 1,069 6,848 1,035 1,766 1,291 1,551 3,524 884 590 1,151 1,374 4,528 Deferred availability cash items 10,076 654 1,529 548 785 797 1,032 1,619 498 388 730 560 936 Other liabilities and accrued dividends 655 32 175 32 49 47 34 104 23 15 26 28 90 TOTAL LIABILITIES 85,408 4,548 20,096 4,370 6,602 6,517 5,165 13,903 3,259 1,845 3,745 3,793 11,565 CAPITAL ACCOUNTS Capital paid in 689 32 183 35 61 35 45 102 24 16 29 39 88 Surplus 1 669 32 177 34 60 34 43 99 23 15 28 37 87 Other capital accounts 345 17 93 17 27 25 19 56 11 7 13 14 46 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1 87,111 4,629. 20,549 4,456 6,750 6,611 5,272 14,160 3,317 1,883 3,815 3,883 11,786 Contingent liability on ace: eptances purchased for foreign correspondents 250 12 3/66 13 22 13 16 37_ 9 _ 6 10___ 14 32 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,917 11,999 2,827 4,186 4,518 2,725 8,951 1,950 888 1,928 1,976 6,308 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 6.750 Total collateral 2,980 12,100 3,000 4,260 4,550 2,900 9,250 2,035 907 1,975 2,035 6,750 \l After deducting $110 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3/ After deducting $184 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis