H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE s t a t i s t i c al r e l e a se •>1S!1#"' H.4.1 For immediate release December 31, 1970 The average of daily figures of total reserves of member banks increased $411 million to $29,741 million in the latest week. Both required reserves and excess reserves increased while member bank borrowings at Federal Reserve Banks declined. A rise in float of $741 million was the major factor supplying reserves in the latest statement week, offsetting this reserve gain were increases in Treasury deposits with Federal Reserve Banks and in currency in circulation. In addition, System Open Market operations absorbed $88 million in reserves net, on a weekly average basis. Member bank borrowings were $68 million less than excess reserves, in the previous week they exceeded excess reserves by the revised figure of $66 million. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 30, Dec. 23, Dec. 31, Dec. 30, and related items 1970 1970 urn Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright--System account 61,554 + 42 44,400 172/ 60,632 Held under repurchase agreements 142 45 Federal Agency obligations-- - 124 Held under repurchase agreements 8 64 Acceptances 63 Bought outright 56 2 56 Held under repurchase agreements 14 23 3 Discounts and advances-- - 25 Member bank borrowings 270 54 - 834 253 Other Float 4,555 + 741 + 579 3,628 Other F. R. assets 1,097 + 46 -1,383 1,110 Total Reserve Bank credit 67,695 + 645 +2,546 65,679 Gold stock 11,117 — + 750 11,117 Special Drawing Rights certif. acct. 400 -- + 400 400 Treasury currency outstanding 7,171 - 7 + 323 7,147 86,383 + 637 +4,019 84,343 Currency in circulation 57,424 + 190 +3,440 57,365 Treasury cash holdings 409 - 8 - 242 403 Treasury deposits with F. R. Banks 1,205 + 377 - 200 1,271 Foreign deposits with F. R. Banks 162 + 19 1 135 Other deposits with F. R. Banks 711 + 15 + 194 736 Other F. R. liabilities and capital 2,231 + 55 + 78 2,249 Member bank reserves: 62,142 + 649 +3,270 62,159 With Federal Reserve Banks 24,241 - 11 + 748 22,184 Currency and coin 5,500 + 422 + 313 5,500 Total reserves held 29,741 + 411 +1,061 27,684 Required reserves 29,403 + 331 +1,251 29,403 Excess reserves 338 + 80 - 190 -1,719 NOTE: A net of $117 million of surplus reserves were eligible to be carried forward from the week ended December 23, into the week ending December 30. On December 30, 1970, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $11,282 million, an increase of $233 million for the week. \_l Excludes $1,000 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. l_l Includes $21 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 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 Dec. 30, Dec. 23, Dec. 31, 1970 1970 1969 A S S E TS Gold certificate account 10,842 „ + 806 Special Drawing Rights certif. accts. 400 -- + 400 Cash (937) 219 — + 109 Discounts and advances 253 - 367 + 70 Acceptances: Bought outright 56 Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities : Bought outright— Bills 24,564 -1,075 4-2,298 Certificates Notes 33,182 — +1= 790 Bonds 2,886 — - 610 Total bought outright 1/2/ 60,632 -1,075 +3 ,478 Held under repurchase agreements -- -- -- Total U. S. Government securities 60,632 -1,075 +3 ,478 Total loans and securities 60,941 -1,442 +3 ,540 Cash items in process of collection (2,874) 11,017 - 896 + 453 Bank premises 128 — + 12 Other assets 3/ 982 + 40 -1, 645 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,811) 84,529 -2,298 +3 ,675 L 1 £ 1L Lh. II LJL 1 (937) 50,565 - 157 +3, 092 Federal Reserve notes Deposits: 22,184 -1,811 + 99 Member bank reserves 1,271 + 497 - 41 U. S. Treasurer--general account 135 9 + 1 Foreign 736 + 28 - 71 Other kf Total deposits 24,326 -1,295 - 12 Deferred availability cash items (2,874) 7,389 - 899 + 265 Other liabilities and accrued dividends 560 18 - 21 TOTAL LIABILITIES (3,811) 82,840 -2,369 +3, 324 C A P I T AL A C C O U N TS 702 + '4 + 33 Capital paid in Surplus 669 — Other capital accounts 318 !• 67 + 318 Contingent liability on acceptances purchased for foreign correspondents 250 + 104 * Figures in parentheses are the eliminations made in the consolidating proce ss. 1/ Excludes $1,000 million securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $21 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies and IMF gold deposited. 57 Includes IMF gold deposit. \ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 30, 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 250 12 2,223 - 813 16 days to 90 days 3 44 11,895 - 174 91 days to 1 year ._ -- 20,819 88 Over 1 year to 5 year•ss -- 19,007 — Over 5 years to 10 years »ars --. 6,029 — Over 10 years — — 659 — Total 253 56 60,632 •1,075 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 DECEMBER 30, 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 10,842 597 3,465 559 835 947 605 1,962 419 116 317 441 579 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 937 107 165 51 59 74 199 52 28 29 37 33 103 Other cash 219 9 20 9 25 13 30 32 .12 6 17 14 32 Discounts and advances 253 4 240 Acceptances: Bought outright 56 56 Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outright— Bills 24,564 1,271 6,044 1,280 1,942 1,879 1,274 3,938 909 481 973 1,111 3,462 Certificates Notes 33,182 1,717 8,164 1,729 2,623 2,538 1,721 5,320 1,229 649 1,314 1,501 4,677 Bonds 2,886 149 710 150 228 221 150 463 107 56 114 131 407 Total bought outright _l/j2/ 60,632 3,137 14,918 3,159 4,793 4,638 3,145 9,721 2,245 1,186 2,401 2,743 8,546 Held under repurchase agreements Total U. S. Government securities 60,632 3,137 14,918 3,159 4,793 4,638 3,145 9,721 2^245 1J.86 2,401 2,743 8^546 Total loans and securities 60,941 3,137 14,9783,159 4 , 7 9 3 4 7 6 3 8 3 7 1 4 5 9 7 9 61 27246 I7T90 27401 27741 8,546 Cash items in process of collection 13,891 769 2,526 664 963 991 1,409 2,266 657 560 890 869 1,327 Bank premises 128 2 8 3 12 11 17 17 12 12 18 8 8 Other assets 3/ 982 54 369 44 66 59 44 122 29 17 31 38 109 TOTAL ASSETS 88,340 4,698 21,624 4,512 6,786 6,769 5,471 14,482 3,418 1,937 3,730 4,160 10,753 1/ Excludes $1,000 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $ 21 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ 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 DECEMBER 30, 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) Federal Reserve notes 51,502 2,926 12,224 2,943 4,210 4,598 2,650 ,9,029 1,956 876 1,884 1,951 6,255 Deposits: Member bank reserves 22,184 912 6,137 859 1,477 1,175 1,494 3,279 822 559 947 1,400 3,123 U. S. Treasurer—general account 1,271 70 458 67 70 100 60 67 46 37 80 73 143 Foreign 135 6 I1, 43 6 11 7 8 19 4 3 5 7 16 Other 7^A 1 7/ Ms 9 1 fi 1 L i i 9 i 91 Total deposits 24,326 989 7,333 934 1,559 1,288 1,563 3,369 873 600 1,034 1,481 3,303 Deferred availability cash items 10,263 673 1,487 519 824 748 1,122 1,739 511 412 720 612 896 Other liabilities and accrvl ed dividends 560 29 137 30 45 42 29 89 20 12 22 ?S 80 TOTAL LIABILITIES 86,651 4,617 21,181 4,426 6,638 6,676 5,364 14,226 3,360 1,900 3,660 4,069 10,534 CAPITAL ACCOUNTS Capital paid in 702 33 185 36 63 36 47 105 24 16 30 39 88 Surplus 669 32 177 34 60 34 43 99 23 15 28 37 87 Other capital accounts T1S ifi «1 1* ?3 17 52 11 6 12 15 '\'\ TOTAL LIABILITIES AND CAPITAL ACCOUNTS 88,340 4,698 21,624 4,512 6,786 6,769 5,471 14,482 3,418 1,937 3,730 4,160 10,753 Contingent liability on ace: eptances purchased for forei- gn correspondents 250 12_ 3/ 66 13_ 22 13 16_ 37 8 5 11 - 14 33 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,058 12,739 3,005 4,371 4,723 2,860 9,349 2,039 912 1,959 2,063 6,612 Collateral for F. R. notes: Gold certificate account 250 500 300 510 610 1,000 155 — — 5 U. S. Government securities 9 «An I94nn 9 «nn 3,900 4,160 2.9QQ 8.4^0 1,93.0 23D 1,975 2,130 7,000 ; Total-collateral 3,090 12,900 3,100 4,410 4,770 2,900 9,450 2,085 930 1,975 2,135 7,000 Digitized for FRA1S/E R After deducting $ 92 million participations of other Federal Reserve Banks. http://fraser.stlou2is/f ed.oIrng/c ludes IMF gold deposit. Federal Reserve7 /B ankA off tS-*t., -L ou^isorWfMno $ 184 m-M 1 ion narticinations of other Federal Reserve Banks.