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 H.4.1 For immediate release January 14, 1971 The average of daily figures of total reserves of member banks decreased $494 million to $30,107 million in the latest week. Required reserves increased while both excess reserves and member bank borrowings at Federal Reserve Banks declined. A seasonal decrease in currency in circulation and a fall in other deposits with Federal Reserve Banks were the major factors supply ing reserves in this latest statement week. Float absorbed $676 million in reserves and was the major drain on reserves. In addition, System Open Market operations absorbed $404 million in reserves net, on a weekly average basis. Member bank borrowings averaged $275 million and exceeded excess reserves by $357 million. In the previous week excess reserves had exceeded borrowings by the revised figure of $196 million. Averae' es of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 13, Jan. 6, Jan. 14, Jan. 13, and related items 1971 1971 1970 1971 Reserve Bank credit: (Iri millions o:i dollars) U.S. Government securities— Bought outright--System account 62,110 + 19 +5,813 1/62,110 Held under repurchase agreements — - 327 -- -- Federal Agency obligations-- Held under repurchase agreements -- 59 — — Acceptances Bought outright 61 3 5 63 Held under repurchase agreements — 40 — -- Discounts and advances-- Member bank borrowings 275 132 590 271 Other Float 3,701 - 676 66 2,945 Other F. R. assets 1,181 h 17 - 693 1,193 Total Reserve Bank credit 67,328 -1,194 +4,459 66,582 Gold stock 10,732 -- - 635 10,732 Special Drawing Rights certif. acct. 400 -- + 200 400 Treasury currency outstanding 7,151 + 3 + 295 7,151 85,611 -1,191 :-4,319 84,865 Currency in circulation 56,657 - 364 +3,617 56,557 Treasury cash holdings 430 — - 229 435 Treasury deposits with F. R. Banks 1,039 4- 66 - 223 587 Foreign deposits with F. R. Banks 158 + 4 23 136 Other deposits with F. R. Banks 711 - 342 + 33 719 Other F. R. liabilities and capital 2,059 + 53 + 62 2,084 Member bank reserves: 61,053 - 584 +3,235 60,518 With Federal Reserve Banks 24,559 - 606 +1,085 24,348 Currency and coin 5,548 + 112 + 34 5,548 Total reserves held 30,107 - 494 +1,119 29,896 Required reserves 30,189 + 191 +1,278 30,189 Excess reserves 82 - 685 - 159 - 293 NOTE: A net of $249 million of surplus reserves were eligible to be carried forward from the week ended January 6, into the week ending January 13. On January 13, 1971, marketable U.S. Government securities held in cust bv the Federal Reserve Banks for foreign and international accounts were $11,386 million, an increase of $196 million for the week. _1/ Includes $41 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 Jan. 13, Jan, 6, Jan. 14, 1971 1971 1970 A S S E TS Gold certificate account 10,464 _ w - 572 Special Drawing Rights certif. accts. * 400 — + 200 Cash (1,217) 225 + 7 + 99 Discounts and advances 271 - 15 - 733 Acceptances: Bought outright 63 + 4 _- Held under repurchase agreements -._ - 93 -- Federal Agency obligations— 94 Held under repurchase agreements U. S. Government securities : Bought outright- Bills 25,933 + 325 +5,122 Certificates Notes 33,236 — +1,844 Bonds 2,941 -- - 555 Total bought outright 1/ 62,110 + 325 +6,411 Held under repurchase agreements 261 Total U. S. Government securities 62,110 + 64 +6,411 Total loans and securities 62,444 - 134 +5,678 Cash items in process of collection (2,590) 11,311 -1 ,752 + 220 Bank premises 128 — + 11 Other assets 2/ 1,065 + 34 - 695 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,807) 86,037 -1 ,845 +4,941 LIABILITIES Federal Reserve notes (1,217) 49,797 321 +3,318 Deposits: Member bank reserves 24,348 -1,122 +1 ,733 U. S. Treasurer—general account 587 - 518 - 607 Foreign 136 18 + 14 Other 3/ 719 4 + 16 Total deposits 25,790 -1,662 +1 ,156 Deferred availability cash items (2,590) 8,366 + 86 + 420 Other liabilities and accrued dividends 549 20 - 12 TOTAL LIABILITIES (3,807) 84,502 -1,917 +4 ,882 C A P I T AL A C C O U N T !* Capital paid in 705 3 + 32 Surplus 702 -- + 33 Other capital accounts 128 69 - 6 Contingent liability on acceptances purchased for foreign correspondents 247 - 2 + 103 * Figures in parentheses are the eliminations made in the consolidating proc ss. J7 Includes $41 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, JANUARY 13, 1971 (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 270 10 3,175 +117 16 days to 90 days 1 53 12,377 -104 91 days to 1 year -- -- 20,754 - 43 Over 1 year to 5 year•ss -- 19,089 -- Over 5 years to 10 ye*aarrss -- 6,046 — Over 10 years — — 669 -- Total 271 63 62,110 - 30 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 JANUARY 13, 1971 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 10,464 719 2,540 617 981 925 394 2,158 373 244 422 630 461 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 1,217 138 231 69 74 93 254 69 33 29 34 49 144 Other cash 225 I 10 20 11 25 14 30 33 12 6 18 14 32 Discounts and advances 271 1 i •s- 4* 264 3 J- 0 Acceptances: Bought outright 63 __ 63 -- -- — -- — -- -- -- — — Held under repurchase agreements -- __ -- -- -- -- -- — -- -- -- -- -- Federal Agency obligations— Held under repurchase agreements -- U. S. Government securities: Bought outright— Bills 25,933 1,269 6,612 1,361 2,023 1,930 1,347 4,084 951 508 1,013 1,175 3,660 Certificates Notes 33,236 1,626 8,474 1,744 2,593 2,474 1,727 5,234 1,219 652 1,298 1,505 4,690 Bonds 2,941 144 750 154 229 219 153 463 108 58 115 133 415 Total bought outright V 62,110 3,039 15,836 3,259 4,845 4,623 3,227 9,781 2,278 1 ,218 2,426 2,813 8,765 Held under repurchase agreements -- — -- — -- -- -- -- -- -- -- -- -- Total U. S. Government securities 62, 110 3,039 15,836 3,259 4,845 4,623 3,227 9,781 2,278 1 ,218- 2,426 2,813 8,765 Total loans and securities 62,444 3,039 15,900 3,259 4,846 4,623 3,227 10,045 2,281 1 ,218 2,428 2,813 8,765 Cash items in process of collection 13,901 801 2,344 699 962 1,051 1,436 2,305 .738 511 .922 857 1,275 Bank premises 128 2 8 3 13 11 17 17 12 12 17 8 8 Other assets 2/ 1,.065_ 48 392 50 72 67 50 136 32 19 35 43 121 TOTAL ASSETS 89,844 4,780 21,528 4,731 7,006 6,820 5,430 14,833 3,496 2 ,046 3,891 4,428 10,855 1/ Includes $41 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 JANUARY 13,1971 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 51,014 2,897 12,118 2,918 4,174 4,563 2,587 8,912 1,940 873 1,859 1,937 6,236 Deposits: Member bank reserves 24,348 1,042 6,411 1,069 1,777 1,178 1,524 3,741 865 670 1,145 1,693 3,233 U. S, Treasurer—general account 587 38 97 24 50 57 38 36 42 29 46 44 86 Foreign 136 6 1/ 44 6 11 7 8 19 4 3 5 7 16 Other 719 3 Z/650 7 1 14 1 18 1 2 3 1 18 Total deposits 25,790 1,089 7,202 1,106 1,839 1,256 1,571 3,814 912 704 1,199 1,745 3,353 Deferred availability cash items 10,956 696 1,666 600 814 880 1,143 1,789 571 424 747 638 988 Other liabilities and accrued dividends 549 27 139 28 43 40 29 86 20 11 21 24 81 TOTAL LIABILITIES 88,309 4,709 21,125 4,652 6,870 6,739 5,330 14,601 3,443 2,012 3,826 4,344 10,658 CAPITAL ACCOUNTS Capital paid in 705 33 185 36 63 36 47 106 24 16 30 39 90 Surplus 702 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 128 5 33 7 10 9 6 21 5__ 2 5_ 6 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 89,844 4,780 21,528 4,731 7,006 6,820 5,430 14,833 2,046 3,891 4,428 10,855 • . . _ - Contingent liability on ace: ept~ ances purchased for forei gn correspondents 247 12 3/ 65 13 22 13 16 37 8_ 6__ 10 14 31 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,061 12,772 2,988 4,343 4,717 2,840 9,1/s- 2,022 912 1,945 2,065 6,611 Collateral for F. R. notes: Gold certificate account 250 S00 300 510 610 — 1,000 155 5 Eligible paper U. S. Government securities o o/.n i o /, rid 2,800 3,900 4.160 2,900 8,450 1,930 930 .1,975 2,130 7,000 ,- ,&,. •• ...„ •».„ L. y i i "" m ——*~ ——— ~—J~~ „ 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 1/ After deducting $ 92 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $ 182 million participations of other 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 Jan. 13, Jan. 6, Jan. 14, 1971 1971 1970 A S S E TS 10,464 „. „ - 572 Gold certificate account 400 — + 200 Special Drawing Rights certif. accts. Cash (1,217) 225 + 7 + 99 Discounts and advances 271 - 15 - 733 Acceptances: 63 + 4 -- Bought outright Held under repurchase agreements -- - 93 -- Federal Agency obligations-- 94 Held under repurchase agreements U. S. Government securities : Bought outright— Bills 25,933 + 325 +5,122 Certificates Notes 33,236 +1 ,844 Bonds 2,941 555 Total bought outright 1/ 62,110 + 325 +6, 411 Held under repurchase agreements - 261 Total U. S. Government securities 62,110 + 64 +6, 411 Total loans and securities 62,444 - 134 +5,678 Cash items in process of collection (2,590) 11,311 -1,752 + 220 Bank premises 128 — + 11 Other assets 2/ 1,065 + 34 - 695 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,807) 86,037 •1,845 +4,941 L I A B I L I T I ES Federal Reserve notes (1,217) 49,797 321 +3,318 Deposits: 24,348 -1,122 +1,733 Member bank reserves U. S. Treasurer—general account 587 - 518 - 607 Foreign 136 18 + 14 Other J3/ 719 4 + 16 Total deposits 25,790 -1,662 +1,156 Deferred availability cash items (2,590) 8,366 + 86 + 420 Other liabilities and accrued dividends 549 20 12 TOTAL LIABILITIES (3,807) 84,502 -1,917 +4,882 C A P I T AL A C C O U N TS 705 3 + 32 Capital paid in Surplus 702 — + 33 Other capital accounts 128 69 6 Contingent liability on acceptances purchased for foreign correspondents 247 103 * Figures in parentheses are the eliminations made in the consoli dating process. \_l Includes $41 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, JANUARY 13, 1971 (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 270 10 3,175 +117 16 days to 90 days 1 53 12,377 -104 91 days to 1 year 20,754 - 43 Over 1 year to 5 years 19,089 Over 5 years to 10 years 6,046 Over 10 years Total 669 271 63 62,110 - 30 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis