H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Afftctiig Ink ttstrtts mi ***f**LRE$*V Conditio! Stfltonoit of F.I. lolls H.4.1 For immediate release October 8, 1970 The average of daily figures of total reserves of member banks declined $235 million in the latest week to $28,777 million. Required reserves and member bank borrowings at Federal Reserve Banks declined while excess reserves rose sharply. Major factors supplying reserves in the latest week were other Federal Reserve assets and Treasury deposits at the Federal Reserve Banks; together these factors supplied $596 million in reserves. Partially offsetting these reserve increases was a seasonal rise in cuftency in circulation. In addition, System Open Market operations absorbed $21<l million in reserves net, on a weekly average basis. Member bank borrowings were $27 million less than excess reserves. In the previous week they exceeded excess reserves by the revised figure of $413 million. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 7, Sept. 30, | Oct. 8, Oct. 7, and related items 1970 1970 IttL 1970 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 59,366 165 +5,336 .1/59,366 Held under repurchase agreements 178 18 - 123 Federal Agency obligations- Held under repurchase agreements 24 25 53 Acceptances Bought outright 34 2 4 36 Held under repurchase agreements 15 9 20 Discounts and advances— Member bank borrowings 396 267 - 571 302 Other Float 2,586 + 20 + 270 2,759 Other F. R. assets 1,692 + 380 -1| 532 1,723 Total Reserve Bank credit 64,292 "" 83 +3, 305 64,186 Gold stock 11,117 + 750 11,117 Special Drawing Rights certif. acct. 400 + 400 400 Treasury currency outstanding 7,062 + 7 + 281 7^064 82,871 - 77 +4,736 82,767 Currency in circulation 54,823 + 194 +3,369 55,135 Treasury cash holdings 457 + 9 - 209 j 472 Treasury deposits with F. R. Banks 874 - 216 38 660 Foreign deposits with F. R. Banks 135 + 10 + 1 150 Other deposits with F. R. Banks 729 + 34 + 232 698 Other F. R. liabilities and capital 2,333 + 75 + 181 2,354 Member bank reserves: 59,351 + 107 +3,536 59,469 With Federal Reserve Banksi 23,521 - 182 +1,201 23,299 Currency and coin 5,256 - 53 + 423 5,256 Total reserves held 28,777 - 235 +1,624 28,555 Required reserves 28,354 - 408 +1,340 , 28,354 Excess reserves 423 + 173 + 284 1 201 NOTE: A net of $149 million of surplus reserves were eligible to be carried forward from the week ended September 30, into the week ending October 7. 1/ Includes $31 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On October 7, 1970, marketable U. S. Government securities held in custody by the Federal Reserve Banks for foreign and international account were $9,559 mill an increase of $259 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 Oct. 7, Se£t. 30, Oct, 8, 1970 1970 1969 A S S E TS Gold certificate account 10,819 -- + 783 Special Drawing Rights certif. accts. 400 — + 400 Cash (896) 223 2 + 70 Discounts and advances 302 551 - 486 Acceptances: Bought outright 36 _ 3 wmmm Held under repurchase agreements 51 - 23 Federal Agency obligations-- Held under repurchase agreements 80 49 U. S. Government securities : Bought outright— Bills 23,876 234 +4,563 Certificates Notes 32,758 — +1,401 Bonds 2,732 -- - 736 Total bought outright 1/ 59,366 - 234 +5,228 Held under repurchase agreements -- - 375 - 162 Total U. S. Government securities 59,366 - 609 +5,066 Total loans and aecuHHea 59,704 -1,291 +4,505 Cash items in process of collection (2,859) 9,785 + 598 + 719 Bank premises 123 + 1 + 10 Other assets 2J 1,600 + 44 -1,452 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,755) 82J654 -T-T4T +57033 L I A1 U I T IE S Federal Reserve notes (896) 48,467 + 380 +2,950 Deposits: Member bank reserves 23,299 - 594 +2,028 U. S. Treasurer—general account 660 - 578 - 488 Foreign 150 + 14 + 27 Other 3/ 698 27 + 195 Total deposits 24,807 -1,185 +1,762 Deferred availability cash items (2,859) 7,026 + 106 + 142 Other liabilities and accrued dividends 610 16 + 85 TOTAL LIABILITIES (3,755) 80,910 - 715 +4,939 C A P I T AL AC CO U N TS Capital paid in 690 1 + 25 Surplus 669 — + 39 Other capital accounts 385 70 + 32 Contingent liability on acceptances purchased for foreign correspondents 232 - 3 + 74 k Figures in parentheses are the eliminations made in the coonnssooll I dat ing process. JL/ Includes $31 million securities loaned—fully secured by UU. 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, OCTOBER 7, 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 300 14 2,631 -455 16 days to 90 days 2 22 11,821 +252 91 days to 1 year 13,394 -486 Over 1 year to 5 years 25,356 -- Over 5 years to 10 years 5,524 — Over 10 years 640 -- Total 302 36 59,366 •689 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 OCTOBER 7, 1970 ,,-. -,.- ..l.JWMUJii,l.J.^...."*J^lJ!t.U-H':. ••.•'••.,„..,, ... ..,,^*>>i}>*. <<!„<<*«:*»>..' „..'», !..'...J J.' ..,1'V.J. •••• '- • *"".-..,. • •• •'.. • 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 10,819 539 2,187 629 977 1,122 523 1,851 470 136 343 349 1,693 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 896 1 113 210 63 52 57 161 38 16 42 39 17 88 Other cash 223 1 10 24 10 24 14 30 31 13 8 15 14 30 Discounts and advances 302 i 30 10 i 1 -.- •4- 238 15 3 3 i Acceptances: Bought outright 36 -- 36 __ -- -- -- -- -- -- -- -- -- Held under repurchase agreements .... __ - - _ _ ... -- -- __ _ _ __ _.. ... —— Federal Agency obligations- Held under repurchase agreements •«• U. S. Government securities: Bought outright— Bills 23,876 1,216 6,008 1,219 1,879 1,799 1,240 3,871 838 468 919 1,080 3,339 Certificates — -- — -- — -- — -- — — — -- — Notes 32,758 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 I 139 688 139 215 206 142 443 96 53 105 124 382 Total bought outright 1/ 59,366 3,024 14,940 3,030 4,673 4,472 3,084 9,625~ ~2 ,083 1,162 2 ,285 2,685 8,303 Held under repurchase agreements — i -- -- -- — — — — -- -- — -- / Total U. S. Government securities 59,366 3,024 14,940 3,030 4,673 4,472 3,084 9,625~ 2 ,083 1,162 2 ,285 2,685 8,303 , Total loans and securities 59,704 3,054 14,986 3,031 4,674 4,472 3,084 9,863 2 ,083 1,177 2 ,288 2,688 8,304 Cash items in process of collection 12,644 755 2,400 658 903 858 1,164 2,204 626 480 836 707 1,053 Bank premises 123 2 8 2 10 11 17 17 11 10 18 8 9 Other assets V 1,600 81_ 549 79 116 94 80_ 212 47 30 56 70 186 1 • i TOTAL ASSETS 86,409 4,577 20,457 4,495 6,789 6,664 5,081 14,286 3 ,281 1,890 3 ,610 3,867 11,412 1/ Includes $31 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. *Less than $500,000. 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 OCTOBER 7, 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 dollai• s) L I A B I L I T I ES Federal Reserve notes 49,363 2,800 11,617 2,748 4,023 4,440 2,528 8,704 1,860 856 1,833 1,847 6,107 Deposits: Member bank reserves 23,299 927 6,048 1,022 1,742 1,184 1,360 3,378 792 555 987 1,304 4,000 U. S. Treasurer—general account 660 41 89 65 43 120 51 22 40 20 31 30 108 Foreign 150 7 1/ 36 8 14 8 10 23 5 3 7 9 20 Other 698 -- 2/642 4 -- 15 2 7 1 ,2_. 3 2 20 Total deposits 24,807 975 6,815 1,099 1,799 1,327 1,423 3,430 838 580 1,028 1,345 4,148 Deferred availability cash items 9,885 688 1,409 530 767 754 990 1,789 502 403 654 555 844 Other liabilities and accrued dividends 610 32 154 30 49 45 31 98 21 13 24 27 86 TOTAL LIABILITIES 84,665 4,495 19,995 4,407 6,638 6,566 4,972 14,021 3,221 1,852 3,539 3,774 11,185 CAPITAL ACCOUNTS Capital paid in 690 32 183 35 61 35 46 102 24 16 29 39 88 Surplus 669 32 177 34 60 34 43 99 23 15 28 37 87 Other capital accounts 385 18 102 19 30 29 20 64 13 7 14 17 52 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 86,409 4.577 20.457 4,495 6,789 6,664 5,081 14,286 3,281 1,890 3,610 3,867 11,41? Contingent liability on ace. eptances purchased for forei gn correspondents 232 11 3/ 61 12 21 12 15 34 8_ 5 10 13 30 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,961 12,122 2,818 4,182 4,559 2,694 9,006 1,943 885 1,934 1,971 6,432 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 4.075 2 900 8 ?50 1 880 .215 1.975 2,030 6,750 f r r Total collateral 2,980 12,300 3,000 4,260 4,655 2,900 9,250 2,035 915 1,975 2,035 6,750 17 After deducting $ 114 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $171 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis