H.4.1 Factors Affecting Reserve Balances of Depository Institutions

SJSS5&-. 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 November 5, 1970 The average of daily figures of total reserves of member banks increased $217 million to $28,623 million in the latest statement weeko Both required reserves and excess reserves increased while member bank borrowings at Federal Reserve Banks declined by a small amount. A somewhat greater than seasonal decline in float was the major factor draining reserves in the latest week. Adding to this reserve absorption was a decline in other Federal Reserve assets and a seasonal rise in currency in circu lation. Some of this decline in reserves was offset by a decrease in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations supplied $702 million in reserves net, on a weekly average basis. Approximately a third of these reserves were provided through outright purchases made at the beginning of the week, with the remainder supplied through repurchase agreements. Member bank borrowing declined for the second week and exceeded excess reserves by $131 million compared with the revised figure of §291 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 4, Oct. 28, Nov. 5, Nov. 4, and related items 1970 1970 1969 1970 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 59,528 + 241 +4,183 1/ 59,528 Held under repurchase agreements 369 + 369 + 108 331 Federal Agency obligations— Held under repurchase agreements 63 63 45 51 Acceptances Bought outright 36 + 1 5 36 Held under repurchase agreements 28 + 28 + 21 28 Discounts and advances-- Member bank borrowings 423 12 905 584 Other Float 2 ,612 370 + 440 2,341 Other F. R. assets 1 .633 145 -1 ,312 1 ,613 Total Reserve Bank credit 64, 692 176 +2, 576 64, 512 Gold stock 11, 117 + 750 11, 117 Special Drawing Rights certif. acct. 400 + 400 400 Treasury currency outstanding 7.,0 88 + 13 + 286 7 ,096 83,297 188 +4,012 83,125 Currency in circulation 55,135 + 120 +3,302 55,435 Treasury cash holdings 467 -f 8 - 195 455 Treasury deposits with F. R. Barnes 1,041 141 73 1,194 Foreign deposits with F. R. Banks 169 24 + 33 163 Other deposits with F. R. Banks 39 + 287 750 738 Other F. R. liabilities and capital 2 ,292 87 + 109 2,327 Member bank reserves: 59, 854 + 138 +3, 463 60,312 With Federal Reserve Banks 23, 443 + 50 + 549 22,813 Currency and coin 5 ,180 + 167 + 413 5,180 Total reserves held 28,623 217 + 962 27,993 Required reserves 28,331 69 + 966 28,331 Excess reserves 292 148 4 - 338 NOTE A net of $134 million of surplus reserves were eligible to be carried forward from the week ended October 28, into the week ending November 4. 1/ Includes $94 million securities loaned--fully secured by U. S. Government securities pledged with Federal Reserve Banks. On November 4, 1970, marketable U. S. Government securities held in custody by the Federal Reserve Banks for foreign and international account were $10,113 million, an increase of $206 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) Wednes day Change since Nov. 4, Oct . 28, Nov . 5, 1970 1970 1969 A S S E TS Gold certificate account 10 ,827 -L 8 + 791 Special Drawing Rights certif. acctss.. -k 400 -- + 400 Cash (823) 223 — + 84 Discounts and advances 584 + 167 - 620 Acceptances: Bought outright 36 _- - 6 Held under repurchase agreements 28 28 9 Federal Agency obligations— Held under repurchase agreements 51 51 1 U. S. Government securities : Bought outright— Bills 24,038 + 245 +3,117 Certificates Notes 32,758 — +1,401 Bonds 2,732 — - 736 Total bought outright 1/ 59,528 + 245 +3,782 Held under repurchase agreements 331 + 331 - 127 Total U. S. Government securities S9.859 + 576 +3,655 Total loans and securities 60,558 + 822 +3,039 Cash items in process of collection (2,753) 10,790 + 923 +1,249 Bank premises 125 -- + 12 Other assets 2/ 1,488 - 208 -1,396 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (3,576) 84,411 +r7 54T +4|l79 L I A B I L I T I ES Federal Reserve notes (823) 48,727 + 295 +2,908 Deposits: Member bank reserves 22,813 - 178 - 129 U. S. Treasurer--general account 1,194 77 + 167 Foreign 163 34 - 45 Other 3/ 738 + 25 + 267 Total deposits 24,908 - 264 + 260 Deferred availability cash items (2,753) 8,449 +1,412 + 905 Other liabilities and accrued dividends 603 + 33 + 30 TOTAL LIABILITIES (3,576) 82,687 +1,476 +4 ,103 C A P I T AL A C C O U N TS Capital paid in 690 __ + 25 Surplus 669 -- + 39 Other capital accounts 365 69 + 12 Contingent liability on acceptances purchased for foreign correspondents 239 + 94 Figures in parentheses are the eliminations made in the consolidating process. 2/ Includes $94 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 1^1 Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 4, 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 —W— Within 15 days 575 +1,107 16 days to 90 days 10,543 596 26 91 days to 1 year 13,143 116 Over 1 year to 5 years 25,356 Over 5 years to 10 years 5,524 Over 10 years 640 Total 584 64 59,910 + 627 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 NOVEMBER 4, 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 10,827 409 2,438 677 997 925 536 2,431 496 105 491 531 791 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 823 117 159 48 42 50 179 35 15 39 40 19 80 Other cash 223 ! ii 20 10 25 14 30 31 12 8 16 16 30 Discounts and advances 584 5 124 11 20 386 0 13 2 20 Acceptances: Bought outright 36 -- 36 -- -- -- -- -~ — -- _- -_ -- Held under repurchase agreements 28 28 — _.. __ ~_ —— - _ - «. Federal Agency obligations- Held under repurchase agreements 51 __ 51 __ __ _ _ _.. — — _.. — — — — m. _ U. S. Government securities: Bought outright— Bills 24,038 1,210 6,068 1,243 1,871 1,822 1,225 3,872 874 470 935 1 ,053 3,395 Certificates — — — — — -- — -- __ -- -- -- -- Notes 32,758 1,648 8,270 1,693 2,550 2,483 1,670 5,277 1,192 640 1,274 1 ,435 4,626 Bonds 2,732 | 137 690 141 213 207 139 440 99 _ 53 107 120 386 Total bought outright 1/ 59,528 2,995 15,028 3,077 4,634 4,512 3,034 9,589 2,165 ,163 2,316 2 ,608 8,407 Held under repurchase agreements 331 -- 331 — — -- -- -- -- -- -- -- -r Total U. S. Government securities 59,859 2,995 15,359 3,077 4,634 4,512 3,034 9,589 2,165 ,163 2,316 2 ,608 8,407 ~ Total loans and securities 60,558 3,000 'L 5,598 3,077 4,634 4,523 3,054 9,975 2,167 i ,164 2,329 2 ,610 8,427 Cash items in process of collection 13,543 881 2,367 659 962 1,015 1,191 2,334 657 540 936 804 1,197 Bank premises 125 2 8 2 11 11 17 17 12 10 18 8 9 Other assets 2/ 1,488 76 514 77 104 90 70 200 45 26 50_ 62 174 TOTAL ASSETS 87,987 4,519 21,197 4,573 6,808 6,664 5,099 15,093 3,419 i. ,899 3,895 4,, 064 10,757 1/ Includes $94 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 2,/ Includes assets denomimated 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 NOVEMBER 4, 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 49,550 2,801 11,737 2,781 4,047 4,463 2,511 8,714 1,870 854 1,826 1,851 6,095 Deposits: Member bank reserves 22,813 833 6,223 818 1,716 1,116 1,412 3,656 804 516 1,030 1,443 3,246 U. S. Treasurer--general account 1,194 78 181 125 63 184 72 149 92 44 35 67 104 Foreign 163 6 1/ 68 7 12 7 8 19 4 3 5 7 17 Other 738 * 2/678 4 — 13 3 10 1 3 3 1 22 Total deposits 24,908 917 7,150 954 1,791 1,320 1,495 3,834 901 566 1,073 1,518 3,389 Deferred availability cash items 11,202 689 1,696 720 774 742 954 2,188 568 430 902 576 963 Other liabilities and accrued dividends 603 30 159 30 47 43 30 96 21 12 23 26 86 TOTAL LIABILITIES 86,263 4,437 20,742 4,485 6,659 6,568 4,990 14,832 3,360 1,862 3,824 3,971 10,533 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 365 18 95 19 28 27 20 60 12 6 14 17 49 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 87,987 4,5iy 21,197 4,573 6,808 6,664 5,099 15.093 3,419 1,899 3.895 4,064 10,757 Contingent liability on ace: tptances purchased for forei- gn correspondents 239 12 3/ 63 12 2JL. 12 16_ 35_ 8_ 1 10 14_ 31 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,944 12,216 2,847 4,188 4,581 2,688 8,988 1,956 893 1,924 2,007 6,425 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 6,750 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 $ 95 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 176 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis