H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Afftctiig loik Itstrvts aid Coiditioi StiliMtit »f f.I. loiks H.4.1 For immediate release October 15, 1970 The average of daily figures of total reserves of member banks declined $381 million in the latest week to $28,396 million. Excess reserves declined significantly following a sharp rise in the previous week. Required reserves were unchanged from the level of the past week while borrowings at Federal Reserve Banks increased. A modest seasonal rise in float was the major source of reserves in the latest statement week. Absorbing reserves were a seasonal rise in currency in circulation and an increase in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $57 million in reserves net, on a weekly average basis. Member bank borrowings increased by a modest amount and exceeded reserves by $411 million. In the previous week member bank borrowings were $27 million less than excess reserves. Averages of daily figures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, Oct. 14, Oct. 7, Oct. 15, Oct. 14, and related items 1970 1970 1969 1970 Reserve Bank credit: (Iri millions of: dollars) U.S. Government securities— Bought outright—System account 59,366 -- +4,800 1/ 59,366 Held under repurchase agreements 122 56 - 191 558 Federal Agency obligations— Held under repurchase agreements 28 4 15 143 Acceptances Bought outright 37 3 4 36 Held under repurchase agreements 7 - 8 26 33 Discounts and advances-- Member bank borrowings 453 + 57 - 894 914 Other Float 2,703 + 117 + 538 2,427 Other F. R. assets 1,734 + 42 -1,448 1,776 Total Reserve Bank credit 64,450 + T5B" +2,760 557753 Gold stock 11,117 __ + 750 11,117 Special Drawing Rights certif. acct. 400 _<_ + 400 400 Treasury currency outstanding 7,066 + 4 + 287 7,069 83,033 + 162 +4,197 83,839 Currency in circulation 55,200 + 377 +3,351 55,408 Treasury cash holdings 461 + 4 - 209 456 Treasury deposits with F. R. Banks 1,037 + 163 67 899 Foreign deposits with F. R. Banks 139 + 4 + 23 151 Other deposits with F. R. Banks 809 + 80 + 298 725 Other F. R. liabilities and capital 2,294 - 39 + 276 2,132 Member bank reserves: 59,940 + 589 +3,671 59,771 With Federal Reserve Banks 23,094 - 427 + 527 24,069 Currency and coin 5,302 + 46 + 490 5^302 Total reserves held 28,396 - 381 +1,017 i 29,371 Required reserves 28,354 -- +1,193 28,354 Excess reserves 42 - 381 - 176 1 1,017 NOTE: A net of $204 million of surplus reserves were eligible to be carried forward from the week ended October 7, into the week ending October 14. 1/ Includes $52 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On October 14, 1970, marketable U. S. Government securities held in custody by the Federal Reserve Banks for foreign and international account were $9,887 million, an increase of $328 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 dollaif a) Wednesday Changei since Oct. 14, Oct. 7, Oct. 15, 1970 1970 1969 A S S E TS Gold certificate account 10, 819 + 783 Special Drawing Rights certif. acctss. * 400 + 400 Cash (820) 221 2 + 73 Discounts and advances 914 + 612 - 269 Acceptances: Bought outright 36 4 Held under repurchase agreements 33 + 33 14 Federal Agency obligations-- Held under repurchase agreements 143 + 143 A 53 U. S. Government securities : Bought outright— Bills 23,876 +3,827 Certificates Notes 32,758 +1,401 Bonds 2,732 - 736 Total bought outright 1/ 59,366 .» +4,492 Held under repurchase agreements "" 558 + 558 + 124 Total U. S. Government securities 59,924 + 558 +4,616 Total loans and securities 61,050 +1 ,346 +4,382 Cash items in process of collection (3,088) io,571 + 780 85 Bank premises 124 + 1 + 11 Other assets 2J 1,652 + 52 -1,375 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,908) 84,837 +2, 177 +4,189 Federal Reserve notes (820) 48,717 250 +3,006 Deposits: Member bank reserves 24,069 + 764 +1,074 U. S. Treasurer—general account 899 + 239 + 115 Foreign 151 + 1 + 9 Other 3/ 725 + 27 + 241 Total deposits 25,844 +1,031 +1,439 Deferred availability cash items (3,088) 8,144 +1,118 - 395 Other liabilities and accrued dividends 615 + 5 + 80 TOTAL LIABILITIES (3,908) 83,320 +2,404 +4,130 C A P I T AL A C C O U N TS Capital paid in 690 M _ + 25 Surplus 669 -- + 39 Other capital accounts 158 • 227 5 Contingent liability on acceptances purchased for foreign correspondents 233 83 Figures in parentheses are the eliminations made in the consoldating process. 17 Includes $52 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 27 Includes assets denominated in foreign currencies and IMF gold deposited. 37 Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 14, 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 advanceI B Acceptances Holdings Weekly changes Within 15 days 860 43 3,478 +847 16 days to 90 days 54 26 11,751 - 70 91 days to 1 year — — 13,318 - 76 Over 1 year to 5 year •s s -- 25,356 -- Over 5 years to 10 >ars -- 5,524 -- Over 10 years — — 640 — Total 914 69 60,067 +701 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 14, 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 10,819 807 2,434 686 843 985 510 1,862 345 135 528 389 1,295 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 820 | 104 177 54 44 57 152 34 16 38 44 19 81 Other cash 221 ! 10 22 10 23 14 30 32 12 8 16 14 30 Discounts and advances j 914 1 28 214 1 3 9 27 424 -. 3 4 4 197 Acceptances: Bought outright 36 -- 36 — — — -- -- -- -- -- -- -- Held under repurchase agreements 33 -- 33 -- -- -- -- -- -- -- -- -_ -- Federal Agency obligations— Held under repurchase agreements 143 143 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 2,732 139 688 139 215 206 142 443 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 ~T, 285 2,685 8,303 Held under repurchase agreements 558 — 558 -- — -- — — — — — -- -- Total U. S. Government securities 59,924 3,024 15,498 3,030 4,673 4,472 3,084 9,625~ ~1 ,083 1,162 —y. 285 2,685 8,303 Total loans and securities 61,050 3,052 15,924 3,031 4,676 4,481 3,111 10,049 2 ,083 1,165 2 ,289 2,689 8,500 Cash items in process of collection 13,659 765 2,411 815 1,015 997 1,321 2,406 737 521 780 767 1,124 Bank premises 124 2 8 2 10 11 17 17 12 10 18 8 9 Other assets 2/ 1,652 83_ 563 80 120 95 83_ 220 49 31 57 81 190 TOTAL ASSETS 88,745 4,846 21,632 4,701 6,764 6,676 5,246 14,690 3 ,269 1,915 3 ,747 3,981 LI,278 _1/ Includes $52 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 OCTOBER 14, 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 49,537 2,812 11,683 2,763 4,044 4,439 2,528 8,730 1,867 857 1,833 1,855 6,126 Deposits: Member bank reserves 24,069 964 6,759 1,042 1,590 1,176 1,422 3,661 708 519 1,057 1,356 3,815 U. S. Treasurer—general account 899 60 112 40 91 109 75 58 44 49 68 63 130 Foreign 151 6 1/ 51 7 12 7 9 20 5 3 6 7 18 Other 725 1 2/672 2 _- 12 2 7 6 2 3 2 16 Total deposits 25,844 1,031 7,594 1,091 1,693 1,304 1,508 3,746 763 573 1,134 1,428 3,979 Deferred availability cash items 11,232 901 1,781 741 846 808 1,081 1,893 567 438 695 587 894 Other liabilities and accrued dividends 615 31 172 29 47 44 31 95 20 13 22 27 84 TOTAL LIABILITIES 87,228 4,775 21,230 4,624 6,630 6,595 5,148 14,464 3,217 1,881 3,684 3,897 11,083 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 158 7 42 8 13 12 9_ 25_ 5_ 3_ 6 8_ 20 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 88,745 4,846 21,632 4,701 6,764 6,676 5,246 14,690 3,269 1,915 3,747 3,981 11,278 Contingent liability on ace: eptances purchased for forei- gn correspondents 233 11 3/ 62 12 21_ __12 15 34 _™_JL 5_ 10 13 30 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,950 12,158 2,833 4,184 4,558 2,700 9,020 1,943 890 1,934 1,989 6,422 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 8.250 1.880 915 1,975 2,030 fr,75Q 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 $ 100 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. Digitized for F3R/AS ERA fter deducting $ 171 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis