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 For immediate release October 22, 1970 The average of daily figures of total reserves of member banks increased $451 million in the latest week to $28,897 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all increased. Several factors including Treasury deposits with F. R. Banks drained reserves by modest amounts during the latest statement week. Offsetting these reserve drains were a seasonal increase in float, and a decline in other F. R. liabilities and capital. In addition, System Open Market operations supplied $88 million in reserves net, on a weekly average basis, through repurchase agree ments. Member bank borrowings were above the average of the previous two weeks and exceeded excess reserves by $393 million compared with the revised figure of $361 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 21, Oct. 14, Oct. 22, Oct. 21, and related items 1970 1970 1969 1970 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 59,350 16 +4,612 1/ 59,309 Held under repurchase agreements 205 + 83 + 97 294 Federal Agency obligations- Held under repurchase agreements 44 16 32 Acceptances Bought outright 35 2 5 36 Held under repurchase agreements 14 7 1 10 Discounts and advances-- Member bank borrowings 588 135 427 1,279 Other Float 3,316 + 563 + 285 2,876 Other F. R. assets 1, 761 + 27 -1, 376 1,762 Total Reserve Bank credit 65, 313 + 813 +3, 184 65,598 Gold stock 11, 117 + 750 11,117 Special Drawing Rights certif. acct. 400 + 400 400 Treasury currency outstanding 7 ,070 + 4 + 285 7,073 83,900 + 817 +4,619 84,188 Currency in circulation 55,228 + 28 +3,409 55,202 Treasury cash holdings 455 - 6 - 208 460 Treasury deposits with F. R. Banks 1,110 + 73 + 167 1,153 Foreign deposits with F. R. Banks 130 - 9 + 13 107 Other deposits with F. R. Banks 746 - 63 + 284 713 Other F. R. liabilities and capital 2,154 140 + 125 2,181 1. Member bank reserves: 59,823 - 117 +3,789 59,816 With Federal Reserve Banks 24,078 + 934 + 830 24,372 Currency and coin 4,819 - 483 + 453 MM Total reserves held 28,897 + 451 +1,283 29,191 Required reserves 28,702 + 348 +1,244 | 28,702 Excess reserves 195 + 103 + 39 1 489 NOTE: A net of $69 million of surplus reserves were eligible to be carried forward from the week ended October 14, into the week ending October 21. 1/ Includes $23 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On October 21, 1970, marketable U. S. Government securities held in custody by the Federal Reserve Banks for foreign and international account were $10,023 million, an increase of $136 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. 21, Oct. 14, Oct. 22, 1970 1970 1969 A S S E TS Gold certificate account 10,819 + 783 Special Drawing Rights certif. accts. * 400 + 400 Cash (904) 224 + 3 + 73 Discounts and advances 1,279 + 365 + 694 Acceptances: Bought outright 36 _ 4 Held under repurchase agreements 10 23 + 10 Federal Agency obligations— 32 , 111 + 32 Held under repurchase agreements U. S. Government securities : Bought outright-- Bills 23,819 57 +4,751 Certificates Notes 32,758 — +1,401 Bonds 2,732 -- - 736 Total bought outright 1/ 59,309 _ 57 +5,416 Held under repurchase agreements 294 - 264 + 294 Total U. S. Government securities 59,603 - 321 +5,710 Total loans and securities 60,960 - 90 +6,442 Cash items in process of collection (2,799) 10,637 - 11 + 842 Bank premises 125 + 1 + 12 Other assets 27 1,637 - .15 -1,360 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,703) 84,802 - 112 +7,192 Federal Reserve notes (904) 48,515 202 +3,015 Deposits: Member bank reserves 24,372 + 226 +3,427 U. S. Treasurer—general account 1,153 + 254 - 177 Foreign 107 - 44 2 Other 3/ (1) 713 - 12 + 264 Total deposits (1) 26,345 + 424 +3,512 Deferred availability cash items (2,798) 7,761 - 383 + 526 Other liabilities and accrued dividends 594 - 21 + 74 TOTAL LIABILITIES (3,703) 83,215 — 182 +7,127 £ £ P I T A L A C C O U N TS Capital paid in 690 __ + 25 Surplus 669 — + 39 Other capital accounts 228 70 + 1 i* Contingent liability on acceptances purchased for foreign correspondents 237 + 4 + 88 * Figures in parentheses are the eliminations made in the consolidating process. 17 Includes $23 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 2^1 Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 21, 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 1,276 19 3,785 +307 16 days to 90 days 27 11,130 -621 91 days to 1 year — 13,200 -118 Over 1 year to 5 years — 25,356 -- Over 5 years to 10 years — 5,524 -- Over 10 years 640 -_- Total —«• 1,279 46 59,635 -432 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 21, 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) AS S E T ^S Gold certificate account 10,819 518 1,931 602 1,094 1,037 501 1,921 446 236 396 504 1,633 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 904 112 209 58 40 65 174 34 20 40 45 23 84 Other cash 224 11 22 10 25 14 30 33 12 8 16 14 29 Discounts and advances 1,279 78 201 4 1 30 8 518 18 -- 16 36 369 Acceptances: Bought outright 36 -- 36 — — — — -- — — — — — Held under repurchase agreements 1 10 — 10 — — — -- — — — -- -- — Federal Agency obligations— Held under repurchase agreements 32 I -- 32 __ -_ __ __ __ U. S. Government securities: Bought outright— Bills 23,819 1,213 5,994 1,216 1,875 1,794 1 ,237 3,862 836 467 917 1,077 3,331 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 r Total bought outright JL/ 59,309 3,021 14,926 3,027 4,669 4,467 "~3~, 081 9,616 2 ,081 ,161 2 ,283 2,682 8,295 Held under repurchase agreements 294 -- 294 -- — -- — — -- — — -- -r Total U. S. Government securities 59,603 3,021 15,220 3,027 4,669 4,467 "T,0 81 9,616 2 ,081 .161 2 ,283 2,682 8,295 Total loans and securities 60,960 3,099 15,499 3,031 4,670 4,497 3 ,089 10,134 2 ,099 1 ,161 2 ,299 2,718 8,664 Cash items in process of collection 13,436 811 2,345 706 1,020 1,012 1 ,268 2,242 691 498 883 751 1,209 Bank premises 125 2 8 2 11 11 17 17 12 10 18 8 9 Other assets 2/ 1,637 82 559 77 118 9_8 81 219 48 33 58 72 192 TOTAL ASSETS 88,505 4,658 20,666 4,509 7,011 6,770 5 ,182 14,670 3 ,343 1 ,993 3 ,730 4,104 11,869 1/ Includes $23 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 21, 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 49,419 2,808 11,657 2,764 4,039 4,428 2,513 8,717 1,862 856 1,824 1,850 6,101 Deposits: Member bank reserves 24,372 934 5,956 1,003 1,854 1,223 1,406 3,724 823 614 1,018 1,475 4,342 U- S. Treasurer-fgeneral account 1,153 88 223 77 73 119 85 79 51 42 86 62 168 Foreign 107 5 1/ 34 5 9 5 6 15 3 2 4 6 13 Other 714 * 2/661 4 ... 14 2 6 2 2 3 2 18 Total deposits 26,346 1,027 6,874 1,089 1,936 1,361 1,499 3,824 879 660 1,111 1,545 4,541 Deferred availability cash items 10,559 718 1,560 546 850 852 1,037 1,797 528 430 707 595 939 Other liabilities and accrued " dividends 594 30 155 30 47 43 31 93 20 12 23 27 83 TOTAL LIABILITIES 86,918 4,583 20,246 4,429 6,872 6,684 5,080 14,431 3,289 1,958 3,665 4,017 11,664 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 228 11 60 11 18 17 13 38 7 4 8 11 30 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 88,505 4,658 20,666 4,509 7,011 6,770 5,182 14,670 3,343 1,993 3,730 4,104 11,869 Contingent liability on ace: eptances purchased for forei- gn correspondents 237 12 3/ 63 12 21 12 15 35 8 5_ 10 13 31 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,950 12,183 2,838 4,196 4,579 2,687 8,998 1,958 895 1,925 1,995 6,435 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 2,90Q 8 25Q 1,880 .215 I,??1? 3,030 6,750 f 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 1/ After deducting $ 73 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 174 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis