H.4.1 Factors Affecting Reserve Balances of Depository Institutions

;qjGow" F E D E R AL R E S E R VE Factors Affecting lank Rtstrves and Condition Statonitnt of F.R. Banks •f^ALRfc^ H.4.1 For immediate release November 27, 1970 The average of daily figures of total reserves of member bank decreased $409 million to $28,403 million in the latest week. Required reserves and excess reserves both declined while member bank borrowings at Federal Reserve Banks increased. A seasonal rise in float and a decrease in Treasury deposits with Federal Reserve Banks were the major factors supplying reserves in this latest statement week. These reserve'gains were offset by a sizeable decline in other F.R. assets. In addition, System Open Market operations absorbed $247 million in reserves net, on a weekly average basis. Member bank borrowings averaged $435 million about equal to the average of previous recent weeks, and exceeded excess reserves by $327 million compared with the unrevised figure of $127 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 25, Nov. 18, Nov. 26, Nov. 25,^ and related items 1970 197Q 1969 1970 " Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 60,3 50 + 407 +3,441 1/60, 494 Held under repurchase agreements 90 500 + 90 629 Federal Agency obligations- Held under repurchase agreements 12 107 12 86 Acceptances Bought outright 37 + 1 11 36 Held under repurchase agreements 4 - 48 + 4 27 Discounts and advances— Member bank borrowings 435 + 103 - 775 1,144 Other Float 3,210 + 261 + 493 1 2,536 Other F. R. assets 1,013 - 369 -1,013 1,037 Total Reserve Bank credit 65,151 - 252 +2,241 65,989 Gold stock 11,117 — + 750 11,117 Special Drawing Rights certif. acct. 400 — + 400 400 Treasury currency outstanding 7,105 + 6 + 286 7,106 83,773 - 246 +3,678 84,612 Currency in circulation 56,040 + 79 +3,353 56,333 Treasury cash holdings 456 + 5 - 205 453 Treasury deposits with F. R. Banks 747 - 152 - 271 805 Foreign deposits with F. R. Banks 135 - 18 + 13 117 Other deposits with F. R. Banks 681 - 35 + 245 662 Other F. R. liabilities and capital 2,208 +_ 63 + 70 2,236 Member bank reserves: 60,267 59 +3, 205 60,606 With Federal Reserve Banks 23,507 - 185 + 474 24,006 Currency and coin 4,896 - 224 + 328 4,896 Total reserves held 28, 403 - 409 + 802 28,902 Required reserves 28, 295 - 312 + 832 28,295 Excess reserves 108 - 97 - 30 607 NOTE A net of $132 million of surplus reserves were eligible to be carried forward from the week ended November 18, into the week ending November 25. On November 25, 1970, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $10,814 million an increase of $167 million for the week. 1/ Includes $35 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Estimated. 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 i since Nov. 25, Nov. 18, Nov. 26, 1970 ** 1970 1969 A S S E TS Gold certificate account 10,827 «... «* + 791 Special Drawing Rights certify accts. * 400 -«. + 400 217 6 + 92 Cash " (710) Discounts and advances 1,144 + 819 2 Acceptances: 36 - « 14 Bought outright- Held under repurchase agreements 27 44 • 27 Federal Agency obligations-- 86 67 86 Held under repurchase agreements U. S. Government securities: Bough t .; < 11 r f gh t - n 1 11 s 24,848 I- 241 +3,028 Cert i f i -rates Notes 32 ,864 + 106 +1,472 Bonds 2 ,782 + 50 - "714 Tota1 bought outright 1/ 60 ,494 + 397 +3,786 Held under repurchase agreements 629 + 165 + 629 Total U. S. Government securities 61 ,123 + 562 +4,415 Total loans and securities 62 ,416 +1,270 +4,512 Cash items in process of collection (2,697) 9 ,872 -2,110 + 449 Bank premises 127 + 14 Other assets _2/ 910 -r 18 - 996 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3 ,407) .769 - 328 +5,262 liiii II L i l l y s. (710) 49,607 252 4-2, 95b Federal Reserve notes Deposits: 24,006 t- 286 +1,833 Memb er b ank r e ser ve s r. : "r e .jsurer- ~ general account 805 32 :., ,< 117 7 •+- K Or her "i ' 662 - 41 -+• J. J 0 'i oia ; depos its 25,590 206 -t-i, 028 Deferred -r/nilability cash items (2,697) 7,336 -1 ,360 -*- 20(< Other iiijilities and accrued dividends 607 _|_ 4 + TOTAL LIABILITIES (3,407) 83,140 898 +-5,?0: C /- ^ 2 L * L A £ £ 0 U N T S Capi ta 1 id in 693 1 27 Surplus 669 -- 39 Other _ i p i t a L accounts 267 69 5 CoriL i.:'.;i«:-n*. liability on acceptances purchased 246 + 100 for foreign correspondents * Figures in parentheses are the eliminations made in the consolidating process ** Estimated, 1/ locludes $35 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. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 25, 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 1,142 35 3,877 -188 16 days to 90 days 2 28 10 '723 +300 91 days to 1 year 21 ,331 +264 Over 1 year to 5 years 18 724 + 80 ( Over 5 years to 10 years 5 ,933 + 23 Over 10 years 621 + 16 Total 11,.114444 63 6611,,220099 4495 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 25, 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 10,827 664 1,628 686 1,059 1,034 685 2,063 453 173 398 628 1,356 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 710 95 132 39 26 46 183 28 17 27 29 18 70 Other cash 217 10 22 10 24 14 29 30 11 7 16 14 30 Discounts and advances 1,144 15 647 1 — 14 — 450 1 2 12 j* 2 Acceptances: Bought outright 36 -- 36 -~ -- -- -- -- -- -- — -- -- Held under repurchase agreements 27 -- 27 -- — -- -- -- — — -- — — Federal Agency obligations- Held under repurchase agreements 86 86 -- U. S. Government securities: Bought outright— 24,848 1,250 6,273 1,284 1,934 1,883 1 ,266 4,003 904 486 967 1,089 3,509 Bills Certificates Notes 32,864 1,654 8,297 1,699 2,558 2,491 1 ,675 5,294 1 ,195 642 1 ,278 1,440 4,641 Bonds 2,782 140 702 144 217 211 142 448 101 54 108 122 393 Total bought outright 2/ 60,494 3,044 15,272 3,127 4,709 4,585 ~~T, 083 9,745~ ~2 ,200 1,182 2 ,353 2,651 8,543 Held under repurchase agreements 629 -- 629 -- -- -- -- — — -- — — — Total U. S. Government securities 61,123 3,044 15,901 3,127 4,709 4,585 "~T, 083 9,745~ 1 ,200 1,182 2 ,353 2,651 8,543 Total loans and securities 62,416 3,059 16,697 3,128 4,709 4,599 3 ,083 10,195 2 ,201 1,184 2 ,365 2,651 8,545 Cash items in process of collection 12,569 696 2,343 660 898 946 1 ,209 2,082 630 490 826 743 1,046 Bank premises 127 2 8 2 12 11 17 17 12 11 18 8 9 Other assets 2/ 910 47_ 372 35 59 52 40 107 25 15 28 37. 93 TOTAL ASSETS 88,176 4,596 21,295 4,583 6,820 6,738 5 ,268 14,592 3 ,364 1,914 3 ,695 4,113 11,198 1' Includes £35 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. , — * Estimated ** 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 NOVEMBER 25, 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 50,317 2,851 11,885 2,877 4,124 4,519 2,558 8,847 1,902 862 1,848 1,881 6,163 Deposits: Member bank reserves 24,006 940 6,486 1,032 1,706 1,206 1,467 3,642 802 547 978 1,499 3,701 U. S. Treasurer—general account 805 35 87 51 51 83 94 73 72 28 80 27 124 Foreign 117 5 1/ 33 6 10 6 7 17 4 3 5 6 15 Other 662 1 7/618 2 1 10 1 6 2 1 2 1 17 Total deposits 25,590 981 7,224 1,091 1,768 1,305 1,569 3,738 880 579 1,065 1,533 3,857 Deferred availability cash items 10,033 658 1,593 502 737 781 1,007 1,666 505 424 692 585 883 Other liabilities and accrvl ed dividends 607 29 162 30 48 44 31 96 21 13 23 26 84 TOTAL LIABILITIES 86,547 4,519 20,864 4,500 6,677 6,649 5,165 14,347 3,308 1,878 3,628 4,025 10,987 CAPITAL ACCOUNTS Capital paid in 693 33 184 35 62 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 267 12 70 14 21 20 14 44 9 5 10 12 36 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 88,176 4,596 21,295 4,583 6,820 6,738 5,268 14,592 3,364 1,914 3,695 4,113 11,198 Contingent liability on ace: eptances purchased for forei-g n 1 correspondents 246 12 3/ 65 _ 13_ 22 13 16 36 8_ 10 14 32 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,969 12,406 2,934 4,273 4,627 2,733 9,132 1,996 900 1,927 2,003 6,487 Collateral for F. R. notes: Gold certificate account 250 500 300 510 610 — 1,000 155 U. S. Government securities 2,770 12,200 2,800 3,900 4,075 2,900 8,250 1,930 915 1,975 2,080 6.750 Total collateral 3,020 12,700 3,100 4,410 4,685 2,900 9,250 2,085 915 1,975 2,085 6,750 1/ After deducting $ 84 million participations of other Federal Reserve Banks. * Estimated. 2/ Includes IMF gold deposit. ** Less than $500,000. 3/ After deducting $181 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis