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 Condition Statement of F.R. Banks H.4.1 For Immediate release September 10, 1970 The average of daily figures of total reserves of member banks increased $384 million in the latest week to $28,785 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. A sharp rise in the amount of currency in circulation drained reserves by $341 million on average during the latest statement week. This rise in currency reflected in part the outflow of currency after the holiday. Most of this reserve drain was offset by a sizeable rise in float. In addition, System Open Market operations supplied $370 million in reserves net, on a weekly average basis. Borrowings rose by a moderate amount and exceeded excess reserves by $498 million compared to the revised figure of $415 million for the previous week. Averages of da ily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Sept. 9, Sep t. 2, Sept. 10, Sept. 9, and related items 1970 /v 1970 1969 1970 ;r (In millions of dollars) Reserve Bank credit: U.S. Government securities-- _;_ Bought outright--System account 59,903 193 4-6,541 1/59,808 Held under repurchase agreements 256 •f 123 + 256 -- Special Certificates -- -- - 507 — Federal Agency obligations — Held under repurchase agreements 50 37 50 -- Acceptances-- Bought outright 40 - 4 _- 39 Held under repurchase agreements 26 >' 13 26 — Discounts and advances-- Member bank borrowings 762 101 22 491 Other Float 2,516 + 220 + 43 2,556 Other F.R. assets 1,149 •-!- 40 -1,781 1,176 Total Reserve Bank credit 64,703 -f 732 +4,650 64,070 Gold Stock 11,367 -- +1,000 11,367 Special Drawing Rights certif. acct. 400 -- + 400 400 Treasury currency outstanding 7,043 •!-- 11 -:- 286 7,047 83,513 -;-743 +6,337 82,884 Currency in circulation 55,014 -:-341 +3,396 55,393 Treasury cash holdings 463 -L 2 - 219 471 Treasury deposits with F.R. Banks 1,128 87 +1,113 1,107 Foreign deposits with F.R. Banks 156 4 -:- 35 157 Other deposits with F.R. Banks 765 -!- 4 + 305 743 Other F.R. liabilities and capital 2,392 -h 81 :- 215 2,400 59,917 -!-510 +4,845 60,271 Member bank reserves: With Federal Reserve Banks 23,596 + 233 +1,491 22,613 Currency and coin 5,189 + 151 + 353 5,189 Total reserves held 28,785 -i_ 384 +1,844 27,802 Required reserves 28,521 + 366 +1,971 28,521 Excess reserves 264 + 18 - 127 - 719 NOTE: A net of $65 million of surplus reserves were eligible to be carried forward from the week ended September 2, into the week ending September 9. 1/ Includes $24 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. On September 9, 1970, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $12,690 million, an increase of $232 million for the week. '''Estimated. (San Francisco District.) 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 Sept. 9, Sept. 2, Sept. 10, 1970 **l 1970 1969 A S S E TS Gold certificate account 11,045 -- +1,018 Special Drawing Rights certif. accts. 400 — + 400 Cash (800) 209 4 + 64 491 - 352 + 151 Discounts and advances Acceptances: Bought outright 39 -- 2 Held under repurchase agreements 31 Federal Agency obligations— Held under repurchase agreements 22 U. S. Government securities Bought outright-- Bills 24,501 133 +7,543 Certificates - Special -- — -1,102 - Other Notes 32,600 -1-2,047 Bonds 2,707 -1,436 Total bought outright 1/ 59,808 133 +7,052 Held under repurchase agreements 332 Total U. S. Government securities 59,808 - 465 +7,052 Total loans and securities 60,338 - 870 +7,205 Cash items in process of collection (2,572) 9,356 - 297 + 130 Bank premises 122 + 9 Other assets 2J 1^054 + 50 -1,804 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,372) 82,524 -1,121 +7,022 LIAlILIliEjS Federal Reserve notes (800) 48,704 + 525 +3,239 Deposits: Member bank reserves 22,613 -1,195 +2,194 U. S. Treasurer—general account 1,107 + 140 +1,099 Foreign 157 + 6 + 61 Other 3/ (131) 743 14 + 304 Total deposits (131) 24,620 -1,063 +3,658 Deferred availability cash items (2,441) 6,800 - 625 76 Other liabilities and accrued dividends 626 ; 29. + 117 TOTAL LIABILITIES (3,372) 80,750 •1,192 +6,938 C A P I T AL A £ £ 2 H N TS Capital paid in 689 + 10 Surplus 669 + 39 Other capital accounts 416 71 + 35 Contingent liability on acceptances purchased for foreign correspondents 244 6 + 82 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $24 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 9, 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 advance Acceptances Holdings Weekly changes !S Within 15 days 487 9 2,493 -261 16 days to 90 days 4 30 12,459 + 15 91 days to 1 year " -- 13,502 -241 Over 1 year to 5 years — 25,266 — Over 5 years to 10 yeairrss -- 5,464 -- Over 10 years — 624 — - -• Total 491 39 59,808 -487 -'"'''Estimated (San Francisco District). 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 9, 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 11,045 654 2,817 646 932 1,072 394 2,114 311 79 250 436 1,340 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 800 97 130 65 51 58 147 39 21 42 43 20 87 Other cash 209 8 23 11 24 13 29 30 11 6 14 13 27 Discounts and advances 491 3 127 * 22 1 1 185 i 16 3 10 122 Acceptances: Bought outright 39 __ 39 -- __ __ -- __ __ __ __ __ Held under repurchase agreements — ! -- -- -- -- __ -- __ _ „, _ — — — — — Federal Agency obligations— Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- U. S. Government securities: Bought outright— Bills 24,501 1,230 6,231 1,238 1,891 1,822 1 ,297 4,013 877 502 973 1,090 3,337 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 \j 59,808 3,003 15,209 3,023 4,615 4,447 ~y ;i65 9,797 2,141 1,225 2,375 2,661 8,147 Held under repurchase agreements ~ — -- — — — -- -- -- — -- -- __ -- Total U. S. Government securities 59,808 3,003 15,209 3,023 4,615 4,44T~ T, 165 9,797 2,141 ~ 1,225 2,375 2,661 8,147 Total loans and securities 60,338 3,006 15,375 3,023 4,637 4,448 3 ,166 9,982 2,142 1,241 2,378 2,671 8,269 Cash items in process of collection 11,928 675 2,284 665 870 861 i ,135 1,835 599 427 801 621 1,155 Bank premises 122 2 8 2 10 11 17 17 11 9 18 8 9 Other assets 2/ 1,054 53 424 49 66 60 46 129 28 18 33 41 107 TOTAL ASSETS 85,896 4,518 21,154 4,484 6,623 6,559 4 ,956 14,216 3,138 1,829 3,552 3,824 11,043 \_! Includes $24 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks, 2^1 Includes assets denominated in foreigh currencies and IMF gold deposited, * Estimated. 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 9, 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 49,504 2,814 11,643 2,767 4,035 4,413 2,566 8,725 1,869 857 1,847 1,851 6,117 Deposits: Member bank reserves 22,613 841 6,614 988 1,530 1,134 1,226 3,440 665 510 861 1,299 3,505 U. S. Treasurer--general account 1,107 66 156 77 96 112 65 163 49 46 108 75 94 Foreign 157 7 1/ 47 8 13 8 10 22 5 3 6 8 20 Other 15 24 13 44 20 874 8 2/ 699 6 6 8 20 11 Total deposits 24,751 922 7,516 1,079 1,654 1,278 1,314 3,669 725 567 995 1,393 3,639 Deferred availability cash items 9,241 666 1,362 517 733 723 933 1,451 461 353 613 459 970 Other liabilities and accn led 626 32 161 31 47 46 33 101 22 13 25 28 87 dividends TOTAL LIABILITIES 84,122 4,434 20,682 4,394 6,469 6,460 4,846 13,946 3,077 1,790 3,480 3,731 10,813 CAPITAL ACCOUNTS Capital paid in 689 32 183 35 61 35 45 102 24 16 29 39 88 Surplus 669 32 177 34 60 34 43 99 23 15 28 37 87 Other capital accounts 416 20 112 21 33 30 22 69 14 8 15 17 55 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 85,896 4 518 21,154 4,484 6,673 6,SS9 4,9Sfi 14,?1fi 3,13ft 1,ft?q- 3,SS? 3,ft?4 11.043 r Contingent liability on ace: eptances purchased for fore:L gn correspondents 244 12 3/ 64 13 22^ 12 16 36 8 5_ 1C_ 14 32 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,926 12,016 2,829 4,191 4,538 2,723 9,015 1,949 886 1,935 1,971 6,413 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 4,020 2,900 8,250 1,880 885 1,975 2.030 6,750 Total collateral 2,980 12,100 3,000 4,260 4,600 2,900 9,250 2,035 907 1,975 2,035 6,750 1/ After deducting $110 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $ 180 million participations of other Federal Reserve Banks. Digitized for F*R ASEERs timated. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis