H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE (fjctors Affecting Bonk Reserves and Condition Statement of F.R. Banks For immediate release February 4, 1971 The average of daily figures of total reserves of member banks decreased $199 million to $30,003 million in the latest week. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks also declined. A decrease in float of $450 million was the major factor draining reserves in the latest statement week. Treasury deposits with Federal Reserve Banks, however, were low relative to their normal level, providing $284 million in reserves. Further augmenting this source of reserves was a seasonal decline in currency in circulation of $143 million. System Open Market operations supplied $79 million in reserves net, on a weekly average basis. Member bank borrowings declined for the second week and exceeded excess reserves by $1 million, compared to $59 million for the previous week. Averages of daily Week ended Chang e from Feb. 3, Jan. 27, 1971 1971 (Ini millions of 61,783 - 26 154 + 87 19 + 6 60 - 2 17 + 14 283 71 2,602 - 450 1.264 ± 66,182 - 10,732 400 7,172 + 84,487 - 55,442 - 468 + 900 - 143 - 807 + 2,237 + 59,995 - 24,492 - 5,511 - 30,003 - 29,721 - 282 *" ool figures Member bank reserves, week ended Wednesday, Reserve Bank credit, Feb . 4, Feb. 3, and related items 1970 ! 1971 Reserve Bank credit: : dollars) U.S. Government securities— 1/ Bought outright—System account + 6,272 61,783 Held under repurchase agreements - 176 ! 144 Federal Agency obligations— Held under repurchase agreements 32 24 Acceptances Bought outright + 2 59 Held under repurchase agreements - 11 26 Discounts and advances-- Member bank borrowings 975 241 Other Float + 114 2,270 Other F. R. assets - ....£41 l 261 r Total Reserve Bank credit 434 + 4,552 65,808 Gold stock — - 635 10,732 Special Drawing Rights certif. acct. -- + 200 400 Treasury currency outstanding 8 + 314 7,176 426 + 4,433 84,116 Currency in circulation 143 + 3,477 55,591 Treasury cash holdings 3 - 162 468 Treasury deposits with F. R. Banks 284 - 171 1,112 Foreign deposits with F. R. Banks 16 - 14 161 Other deposits with F. R. Banks 70 + 125 802 Other F. R. liabilities and capital 68 + 47 2,260 Member bank reserves: 305 + 3,300 60,394 With Federal Reserve Banks 121 + 1,132 23,721 Currency and coin 78 + 456 5,511 Total reserves held 199 + 1,588 29,232 Required reserves 186 + 1,517 29,721 Excess reserves 13 + 71 i - 489 NOTE: A net of $119 million of surplus reserves were eligible to be carried forward from the week ended January 27, into the week ending February 3. On February 3, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $12,095 million an increase of $455 million for the week. J7 Includes $43 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 Feb. 3, Jan. 27, Feb. 4, 1971 1971 1970 A S S E TS Gold certificate account 10,464 -- - 581 Special Drawing Rights certif. accts. * 400 -- + 200 Cash (1,406) 254 + 7 + 82 Discounts and advances 241 - 500 - 946 Acceptances: 59 - 4 1 Bought outright Held under repurchase agreements 26 + 21 18 Federal Agency obligations-- Held under repurchase agreements 24 14 82 U. S. Government securities : Bought outright— Bills 25,606 100 44,977 Certificates Notes 33,236 +1,844 Bonds 2,941 - 555 Total bought outright 1/ 61,783 100 +6,266 Held under repurchase agreements 144 7 - 537 Total U. S. Government securities 61,927 107 +5,729 Total loans and securities 62,277 576 44,682 Cash items in process of collection (2,548) 10,174 416 + 18 Bank premises 129 + 11 Other assets 2/ 1,132 - 602 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,954) 84,830 994 +3,810 LIAlIIiIlIE S Federal Reserve notes (1,406) 48,870 +3,158 Deposits: Member bank reserves 23,721 -1,253 - 152 U. S. Treasurer—general account 1,112 - 125 - 93 Foreign 161 + 6 - 17 Other 3/ 802 + 85 + 121 Total deposits 25,796 -1,287 - 141 Deferred availability cash items (2,548) 7,904 + 222 + 769 Other liabilities and accrued dividends 527 + 8 - 38 TOTAL LIABILITIES (3,954) 83,097 -1,058 +3, 748 C A P I T AL ^ £ £ 2 E *i T £ 708 __ + 32 Capital paid in Surplus 702 -- + 33 Other capital accounts 323 • 64 - 3 Contingent liability on acceptances purchased for foreign correspondents 269 + 21 + 122 * Figures in parentheses are the eliminations made in the consolidating proces s 1/ Includes $43 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, February 3, 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 241 42 3,699 -401 16 days to 90 days 43 12,569 +659 91 days to 1 year 19,879 -351 Over 1 year to 5 years 19,089 Over 5 years to 10 years 6,046 Over 10 years — 669 Total 241 85 61,951 93 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 FEBRUARY 3, 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 10,464 473 2,104 567 850 941 522 . 2,489 423 215 384 444 1,052 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 1,406 150 275 88 105 97 329 65 36 32 35 51 143 Other cash 254 11 22 12 28 17 34. 36 14 7 19 16 38 Discounts and advances 241 -- 2 1 -- — * 234 -- 1 3 * — Acceptances: Bought outright 59 -- 59 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements 26 -- 26 -- -- --. -- -- -- -- -- -- -- Federal Agency obligations-- Held under repurchase agreements 24 24 — -- U. S. Government securities: Bought outright— 25,606 1,276 6,549 1,314 1,974 1,915 1,273 4,121 945 511 1,000 1,165 3,563 Bills Certificates 33,236 ! 1,656 8,501 1,707 2,563 2,486 1,651 5,348 1,227 663 1,297 1,512 4,625 Notes Bonds 2,941 146 752 151 227 220 146 473 109 59 115 134 409 Total bought outright J7 61,783 3,078 15,802 3,172 4,764 4,621 3,070 9,942 2,281 1,233 2,412 2,811 8,597 Held under repurchase agreements 144 -- 144 -- -- -- — -- -- -- -- — -- Total U. S» Government securities 61,927 3,078 15,946 3,172 4,764 4,621 3,070 9,942 2,281 1,233 2,412 2,811 8,597 Total loans and securities 62,277 3,078 16,057 3,173 4,764 4,621 3,070 10,176 2,281 1,234 2,415 2,811 8,597 Cash items in process of collection 12,722 780 2,142 687 872 973 1,246 2,036 666 455 845 836 1,184 Bank premises 129 2 8 3 13 11 17 17 12 12 18 8 8 Other assets 2_/ 1,132 61 406 55_ 77 71 50 148 34 19_ 37 46 128 TOTAL ASSETS 88,784 4,578 21,107 4,608 6,742 6,767 5,290 15,037 3,481 1,981 3,768 4,226 11,199 jL/ Includes $43 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 FEBRUARY 3,1971 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) L I A B I L I T I ES Federal Reserve notes 50,276 2,850 12,013 2,868 4,099 4,516 2,517 8,788 1,920 861 1,840 1,895 6,109 Deposits: Member bank reserves 23,721 881 5,911 951 1,593 1,206 1,516 3,941 870 619 1,048 1,506 3,679 U. S. Treasurer—general account 1,112 66 214 94 72 85 67 138 79 53 67 71 106 Foreign 161 6 1/ 65 7 12 7 9 20 4 3 5 7 16 Other 802 * 7/731 5 13 1 25 1 3 2 1 20 Total deposits 25,796 953 6,921 1,057 1,677 1,311 1,593 4,124 954 678 1,122 1,585 3,821 Deferred availability cash items 10,452 668 1,582 567 773 806 1,044 1,777 529 393 714 631 968 Other liabilities and accrued dividends 527 26 136 27 40 38 26 83 19 12 20 23 77 TOTAL LIABILITIES 87,051 4,497 20,652 4,519 6,589 6,671 5,180 :L 4,772 3,422 1,944 3,696 4,134 10,975 CAPITAL ACCOUNTS Capital paid in 708 33 185 36 64 37 48 106 24 16 30 39 90 Surplus 702 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 323 15 85 17 26 23 15 54 11 5 12 14 46 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 88,784 4,578 21,107 4,608 6.742 6.767 5.290 ]L 5.037 3.481 1.981 3.768 4.226 11.199 Contingent liability on ace: eptances purchased for foreiL gn correspondents 269 13 3/ 71 14 24 14 18 40 9 6 11 15 34 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,024 12,703 2,952 4,293 4,691 2,795 9,144 1,993 900 1,921 2,019 6,521 Collateral for F. R. notes: Gold certificate account 250 500 300 510 610 — 1,000 155 5 Eligible paper U. S. Government securities 2,840 12,400 2,800 3,900 4,160 2,900 8,450 1,930 930 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 1/ After deducting $ 96 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 198 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis