H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting lank Rosorvos and Condition Stotomont of F.R. Banks H.4.1 For Immediate release October 1, 1970 The average of daily figures of total reserves of member banks increased $619 million in the latest statement week to $28,982 million. Required reserves, excess reserves, and member bank borrowings at Federal Reserve Banks all increased. The major factors absorbing reserves in the latest week were float, which declined $821 million, and the gold stock which also declined absorbing a moderate amount of reserves. Major factors offsetting these reserve drains were currency in circulation and other Federal Reserve assets. In addition, System Open Market operations provided $488 million reserves, on a weekly average basis, through repurchase agreements. Later in the week the System purchased outright a moderate amount of longer maturity U. S. Government securities. Member bank borrowings rose moderately in the latest week and exceeded excess reserves by $443 million compared to the revised figure of $542 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. 30, Sept. 23, Oct. 1, Sept. 30, and related items UJSL 197Q 1969 197Q Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 59,531 + 222 +5,718 !i/ 59,600 Held under repurchase agreements 196 + 196 - 105 |_ 375 Federal Agency obligations- Held under repurchase agreements 49 :- 49 40 80 Acceptances Bought outright 36 3 1 36 Held under repurchase agreements 24 + 24 + 21 51 Discounts and advances-- Member bank borrowings 663 + 205 773 853 Other Float 2,536 - 821 + 352 2 ,162 Other F. R. assets 1,312 + 97 -1, 988 1 ,678 Total Reserve Bank credit 64,345 32 +3, 262 64, 835 Gold stock 11,117 - 214 + 750 11, 117 Special Drawing Rights certif. acct. 400 + 400 400 Treasury currency outstanding 7,055 + 278 7 ,060 82,917 - 241 44,691 83,412 Currency in circulation 54,629 - 235 +3,432 54,776 Treasury cash holdings 448 - 3 - 218 447 Treasury deposits with F. R. Banks 1,090 - 27 - 40 1,238 Foreign deposits with F. R. Banks 125 - 4 + 2 136 Other deposits with F. R. Banks 695 - 65 + 231 725 Other F. R. liabilities and capital 2,258 + 67 + 203 2,301 59,244 - 268 +3,609 59,623 Member bank reserves: With Federal Reserve Banks 23,673 + 26 +1,082 23,788 Currency and coin 5,309 + 593 + 500 5,309 Total reserves held 28,982 + 619 +1,582 29,097 Required reserves 28,762 + 315 +1,682 28,762 Excess reserves 220 + 304 - 100 335 NOTE: A net of $48 million of surplus reserves were eligible to be carried forward from the week ended September 23, into the week ending September 30. \J Includes $34 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On September 30, 1970, marketable U. S. Government securities held in custody by the Federal Reserve Banks for foreign and international account were $9,300 million, an increase of $16 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) Wednesda Change since »i Sept. Sept. 23, ' Oct. 1, 1970 1970 1969 A S S E TS Gold certificate account ,819 + 783 400 + 400 Special Drawing Rights certif. accts. Cash 221 + 4 + 69 (1,041) Discounts and advances 853 - 520 - 328 Acceptances: Bought outright 36 _ 1 «•*• Held under repurchase agreements 51 T 51 + 51 Federal Agency obligations-- Held under repurchase agreements 80 80 80 U. S. Government securities : Bought outright-- Bills 24,110 179 44,961 Certificates Notes 32,758 + Bonds 2,732 + Total bought outright 1/ 59,600 Held under repurchase agreements 375 Total U. S. Government securities 55,975 Total loans and securities 60,995 Cash items in process of collection (2,980) 9,082 Bank premises 122 Other assets 2J 1,556 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (4,021) 83,195 k 1 A H Ik 11 1H 1 Federal Reserve notes (1,041) .48,087 41 Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other J/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T AL A C C O U N TS Capital paid in Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $34 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 2J Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. .+|+ 68 +1,511 17 - 717 94 +5,755 375 + 375 +6,130 "28T - 108 +5,932 -1 395 - 397 + 9 + 440 -1,590 2^ ,059 +5,206 +3,031 23,788 - 552 +1,916 1,238 + 206 + 180 136 - 2 + 2 725 -- + 249 25,887 - 348 +2,347 (2,980) 6,920 - 755 - 378 626 + 15 + 121 (4,021) 81,520 -1, 129 +5,121 691 + 1 + 26 669 —• + 39 315 + 69 + 20 235 + 1 + 76 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. SEPTEMBER 30,1970 (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 851 65 3,086 +122 16 days to 90 days 2 22 11,569 -107 91 days to 1 year — — 13,880 +273 Over 1 year to 5 years "S — 25,356 + 30 Over 5 years to 10 years iars __ — 5,524 + 33 Over 10 years 640 + 10 Total m8mm5mmm3mm m 8 m 7 m mm 60,055 +361 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 30, 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 10,819 668 2,550 594 874 1,094 513 1,738 488 159 445 399 1,297 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 1,041 1 121 218 77 62 66 188 51 26 46 45 22 119 Other cash 221 ! 10 24 11 24 14 30 30 13 7 15 14 29 Discounts and advances 853 1 36 294 10 —— 8 9 391 2 5 6 10 82 Acceptances: Bought outright 36 36 __ «... «.«., «•. — — *.« «... --. mm mm Held under repurchase agreements 51 «»«, 51 —— _ M __ «••• ._ mm mm _<» mm mm #_» mm mm Federal Agency obligations— Held under repurchase agreements 80 i 80 U. S. Government securities: Bought outright— Bills 24,110 1,228 6,067 1,231 1,898 1,816 1 ,252 3,909 846 473 928 1,090 3,372 Certificates — — — — — — — — — -- — -- — Notes 32,758 1 1,669 8,244 1,672 2,579 2,467 1 ,702 5,311 1,149 641 1,261 1,481 4,582 Bonds 2,732 139 688 139 215 206 142 443 96 53 105 124 382 r Total bought outright \j 59,600 3,036 14,999 3,042 4,692 4,489 ~T, 096 9,663 2,091 ,167 2,294 2,695 8,336 Held under repurchase agreements ~~ 375 -- 375 -- — — -- -- -- -- -- -- — r Total U. S. Government securities 59,975 3,036 15,374 3,042 4,692 4,489 "T, 096 9,663 2,091 ,167 2,294 2,695 8,336" Total loans and securities 60,995 3,072 15,835 3,052 4,692 4,497 3 ,105 10,054 2,093 i ,172 2,300 2,705 8,418 Cash items in process of collection 12,062 696 2,066 625 767 863 1 ,145 2,082 605 468 874 804 1,067 Bank premises 122 2 8 2 10 11 17 17 11 9 18 8 9 Other assets 2j 1,556 79 535 73 112 89_ 78 206 46 27 54 78_ 179 TOTAL ASSETS 87,216 4,671 21,329 4,457 6,574 6,670 5 ,098 14,248 3,297 i ,895 3,766 4,044 11,167 1/ Includes $34 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 30, 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) L I A B I L I T I ES Federal Reserve notes 49,128 2,793 11,582 2,741 4,011 4,403 2,523 8,670 1,852 851 1,829 1,838 6,035 Deposits: Member bank reserves 23,788 1,057 6,646 1,022 1,519 1,226 1,392 3,402 810 526 1,002 1,405 3,781 U. S. Treasurer—general account 1,238 68 285 65 85 110 59 89 73 68 99 67 170 Foreign 136 7 1/ 25 8 13 8 10 22 5 3 6 9 20 Other 725 -- 2/667 1 2 13 2 6 1 2 3 2 26 Tota\_ de po s_i_t s 25,887 1,132 7,623 1,096 1,619 1,357 1,463 3,519 889 599 1,110 1,483 3,997 Deferred availability cash items 9,900 635 1,514 504 750 772 974 1,706 478 396 734 605 832 Other liabilities and accrued dividends 626 32 166 31 48 46 32 100 21 12 24 28 86 TOTAL LIABILITIES 85,541 4,592 20,885 4,372 6,428 6,578 4,992 13,995 3,240 1,858 3,697 3,954 10,950 CAPITAL ACCOUNTS Capital paid in 691 32 183 35 61 35 46 103 24 16 29 39 88 Surplus 669 32 177 34 60 34 43 99 23 15 28 37 87 Other capital accounts 315 15 84 16 25 23 17 51 10 6 12 14 42 TOTAL LIABILITIES AND 87, 216 4,671 21,329 4,457 6,574 6,670 5,098 14,248 3,297 1,895 3,766 4,044 11,167 CAPITAL ACCOUNTS s Contingent liability on ace eptances purchased for forei gn correspondents 235 11 3/ 62 12 21 12 15 35 8 5 10 13 31 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,928 12,117 2,828 4,195 4,552 2,697 9,034 1,950 888 1,925 1,979 6,378 Collateral for F. R. notes: Gold certificate account 250 500 300 510 580 — 1,000 155 5 U. S. Government securities 2,730 11,800 2,700 3,750 4,020 2,900 8,250 1,880 915 1,975 2.030 6.750 Total collateral 2,980 12,300 3,000 4,260 4,600 2,900 9,250 2,035 915 1,975 2,035 6,750 JL/ After deducting $ 111 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $ 173 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis