H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and '.f*4Li5*? Condition Statement of F.R. Banks H.4.1 For immediate release January 21, 1971 The average of daily figures of total reserves of member banks increased $893 million to $31,000 million in the latest week. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks also increased. A seasonal decrease in currency in circulation was the major factor supplying reserves in this latest statement week* A decline in Treasury deposits with Federal Reserve Banks and a rise in float also provided significant amounts of reserves. Several factors drained reserves by small amounts, in part off setting some of these reserve increases. In addition, System Open Market operations absorbed $131 million in reserves net, on a weekly average basis. Borrowings for the latest week averaged $471 million and exceeded excess reserves by $386 million compared with $357 million for the previous week.. Averas: es of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 20, Jan. IT, 1 Jan. 21, Jan. 20, and related items 1971 1971 1 1970 1971 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought "outright—System account 61,874 - 236 •i-5 ,634 1/62,033 Held under repurchase agreements 83 + 83 + 83 580 Federal Agency obligations— 13 + 13 + 13 88 Held under repurchase agreements Acceptances Bought outright 63 + 2 + 1 63 Held under repurchase agreements 7 + 7 + 7 49 Discounts and advances-- Member bank borrowings 471 + 196 - 492 1,522 Other Float 3,876 + 176 + 278 2,868 Other F. R. assets 1.222 + 40 - 665 1,248 Total Reserve Bank credit 67,607 + 279 +4, 858 68,451 Gold stock 10,732 -- - 635 10,732 Special Drawing Rights certif. acct. 400 -- + 200 400 Treasury currency outstanding 7,155 + 4 + 299 7.160 85,894 + 283 +4, 722 86,743 Currency in circulation 56,099 - 555 +3, 578 55,909 Treasury cash holdings 440 + 10 - 211 458 Treasury deposits with F. R. Banks 925 - 114 - 184 608 Foreign deposits with F. R. Banks 158 - 3 185 Other deposits with F. R. Banks 718 + 7 + 47 713 Other F. R. liabilities and capital 2,120 + 59 + 63 2.151 Member bank reserves: 60,459 - 594 +3, 290 60,024 With Federal Reserve Banks 25,435 + 876 +1, 432 26,718 Currency and coin 5,565 + 17 + 168 5,565 Total reserves held 31,000 + 893 +1, 600 32,283 Required reserves 30,915 + 726 +1, 719 30,915 Excess reserves 85 + 167 - 119 1,368 NOTE: A net of $69 million of surplus reserves were eligible to be carried forward from the week ended January 13, into the week ending January 20. On January 20, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $11,635 million, an increase of $249 million for the week. 1/ Includes $67 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. 20, Jan. 13, Jan. 21, 1971 1971 1970 A S S E TS Gold certificate account 10,464 - 572 Special Drawing Rights certif• acctss. * 400 + 200 Cash (1,409) 239 + 14 + 96 Discounts and advances 1,522 +1,251 - 508 Acceptances: Bought outright 63 Held under repurchase agreements 49 + 49 + 49 Federal Agency obligations-- Held under repurchase agreements 88 •- 88 + 88 U. S. Government securities: Bought outright— Bills 25,856 77 +4,589 Certificates Notes 33,236 — +1,844 Bonds 2,941 — - 555 Total bought outright 1/ 62,033 77 +5,878 Held under repurchase agreements 580 + 580 + 580 Total U. S. Government securities 62,613 + 503 +6,458 Total loans and securities 64,335 +1,891 +6,087 Cash items in process of collection (2,930) 11,193 - 174 + 289 Bank premises 129 + 1 + 12 Other assets 27 1,119 + 45 - 626 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (4,339) 87,879 +1,777 +5,486 k 1 A 1 III 11 111 Federal Reserve notes (1,409) 49,179 - 600 +3,183 Deposits: Member bank reserves 26,718 +2,301 +1,918 U. S. Treasurer--general account 608 + 21 - 523 Foreign + 64 185 + 49 Other V 713 - 6 Total deposits 28, 224 +2 ,365 +1, 466 Deferred availability cash items (2,930) 8 ,325 - 41 + 762 Other liabilities and accrued dividends 551 12 + 16 TOTAL LIABILITIES (4,339) 86,279 +1,712 +5,427 C A P I T AL A C C O U N TS Capital paid in 706 + 32 Surplus 702 + 33 Other capital accounts 192 64 6 Contingent liability on acceptances purchased for foreign correspondents 252 + . 5 + 108 * Figures in parentheses are the eliminations made in the consolidating porc ess. \_l Includes $67 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. l_l Includes assets denominated in foreign currencies and IMF gold deposited ZJ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 20, 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 1,522 67 4,430 +1,255 16 days to 90 days -- 45 11,861 - 516 91 days to 1 year _. -- 20,606 - 148 Over 1 year to 5 years -- 19,089 -- •s Over 5 years to 10 yseaarrss -- 6,046 -- Over 10 years -- 669 — Total 1,522 112 62,701 + 591 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 20, 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 10,464 587 2,027 664 809 908 459 2,000 358 264 445 507 1,436 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 1,409 146 272 84 92 106 312 75 40 33 35 5 5 159 Other cash 239 11 22 12 27 15 31 34 13 7 18 15 34 Discounts and advances 1,522 20 683 14 21 24 3 364 3 * 16 * 374 Acceptances: Bought outright 63 -- 63 — — -- — — — — -- — -- Held under repurchase agreements 49 — 49 -- — — — -- -- — — __ — Federal Agency obligations— Held under repurchase agreements 88 «- 88 — -- -- -- ~ -- — — -- — U. S. Government securities: Bought outright— Bills 25,856 1,265 6,593 1,357 2,017 1,925 1,343 4,072 948 507 1,009 1,171 3,649 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 ns 133 415 r Total bought outright 1/ 62,033 | 3,035 15,817 3,255 4,839 4,618 3,223 9,769 T ,275 ~~T, 217 2,422 2,809 8,754 Held under repurchase agreements 580 -.— 580 — - — — ... _- .. ... _•. _ — --. _«. IzE Total U. S. Government securities 62,613 3,035 16,397 3,255 4,839 4,618 3,223 9,769 ~2 ~T, 217 2,422 2,809 8,754 Total loans and securities 64,335 3,055 17,280 3,269 4,860 4,642 3,226 10,133 2 ,278 1 ,217 2,438 2,809 9,128 Cash items in process of collection 14,123 845 2,399 801 1,063 1,102 1,291 2,410 751 488 936 841 1,196 Bank premises 129 2 8 3 13 11 17 17 12 12 18 8 8 Other assets 2/ 1,119 59 407 52 76 69 52 143 33 20 37 45 126 TOTAL ASSETS 92,218 4,728 22,508 4,908 6,973 6,889 5,410 14,882 3 ,500 2 ,048 3,942 4,294 12,136 1/ Includes $67 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. -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 JANUARY 20, 1971 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 50,588 2,873 12,037 2,896 4,141 4,537 2,561 8,849 1,928 867 1,843 1,910 6,146 Deposits: Member bank reserves 26,718 1,007 7,383 1,202 1,727 1,236 1,565 3,720 877 672 1,167 1,549 4,613 U. S. Treasurer—general account 608 25 110 40 17 76 35 40 33 30 61 51 90 Foreign 185 8 1/ 67 8 14 8 11 24 S 4 7 9 20 Other 713 2/ 660 5 1 14 1 5 1 1 i 17 Total deposits 28,224 1,040 8,220 1,255 1,759 1,334 1,612 3,789 916 711 1,238 1,610 4,740 Deferred availability cash items 11,255 714 1,681 647 889 892 1,106 1,918 582 424 772 664 966 Other liabilities and accril ed dividends 551 26 149 28 42 40 28 83 19 11 22 24 79 TOTAL LIABILITIES 90,618 4,653 22,087 4,826 6,831 6,803 5,307 14,639 3,445 2,013 3,875 4,208 11,931 CAPITAL ACCOUNTS Capital paid in 706 33 185 36 64 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 192 9 51 10 15 14 9 32 7 7 a ?7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 92,218 4,728 22,508 4,908 6,973 6,889 5,410 14,882 3,500 2,048 3,942 4,294 12,136 Contingent liability on ace: eptances purchased for forei gn correspondents 252 12 3/ 66 13 23 13 17 2£_ S_ 6_ 10 14 32. FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 53,308 3,046 12,719 2,977 4,323 4,714 2,824 9,230 2,012 907 1,939 2,039 6,578 Collateral for F. R. notes: Gold certificate account 3,330 250 500 300 510 610 — 1,000 155 — -- 5 U. S. Government securities 51,415 2,840 12,400 2,800 3,900 4.160 2.900 8.450 1,930 930 l 975 2 130 7.QQQ r r Total collateral 54,745 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 $118 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $ 186 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis