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 Rtstrvts aid Condition Statement of F.R. Banks H.4.1 For immediate release February 11, 1971 The average of daily figures of total reserves of member banks decreased $241 million to $29,766 million in the latest week. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks also declined. A large contraseasonal rise in float which provided $554 million in reserves, was the only factor supplying a significant amount of reserves in the latest statement week. Offsetting this source of reserves were sizeable increases in currency in circulation and Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $200 million in reserves net, on a weekly average basis. Much of this net absorption was through matched sale-purchase transactionsmade near the end of the statement week. Member Bank borrowings exceeded excess reserves by $65 million compared to the revised figure for the previous week which was $3 million less than excess reserves. Averages o f daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 10, Feb . 3, Feb. 11, Feb. 10, and related items 1971 1971 1970 1971 Reserve Bank credit: (ITi millions of: dollars) U.S. Government securities— Bought outright—System account 61,722 - 61 +6,201 1/2/60,647 Held under repurchase agreements 44 - 110 - 182 — Federal Agency obligations— Held under repurchase agreements 3 16 18 — Acceptances Bought outright 59 1 _- 54 Held under repurchase agreements 5 12 16 — Discounts and advances-- Member bank borrowings 248 35 • 821 254 Other Float 3,160 + 554 + 635 2,444 Other F. R. assets 1,284 + 20 - 719 1,314 Total Reserve Bank credit 66,526 + 339 +5,080 64,713 Gold stock 10,732 — - 635 10,732 Special Drawing Rights certif. acct. 400 -- + 200 400 Treasury currency outstanding 7,177 + 5 + 312 7,177 84,835 + 344 +4,957 83,022 Currency in circulation 55,664 + 222 +3,521 55,929 Treasury cash holdings 466 - 2 - 152 470 Treasury deposits with F. R. Banks 1,163 + 263 1 1,742 Foreign deposits with F. R. Banks 147 -;- 4 3 129 Other deposits with F. R. Banks 771 - 36 + 141 721 Other F. R. liabilities and capital 2,300 + 63 + 33 2,318 60,511 + 516 +3,539 61,309 Member bank reserves: With Federal Reserve Banks 24,324 - 172 +1,418 21,713 Currency and coin 5,442 - 69 + 351 5,442 Total reserves held 29,766 - 241 +1,769 27,155 Required reserves 29,583 - 138 +1,793 29,583 Excess reserves 183 - 103 - 24 -2,428 NOTE: A net of $142 million of surplus reserves were eligible to be carried forward from the week ended February 3, into the week ending February 10. On February 10, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $12,141 million, an increase of $46 million for the week. 1_/ Excludes $1,487 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $54 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. 10, Feb. 3, Feb. 11, 1971 1971 1970 A S S E TS Gold certificate account 10,464 •» mm — 581 Special Drawing Rights certif, acctss.. * 400 — + 200 Cash (1, 215) 258 + 4 + 78 Discounts and advances 254 + 13 - 743 Acceptances: Bought outright 54 _ 5 -. 6 Held under repurchase agreements -- - 26 - 68 Federal Agency obligations-- Held under repurchase agreements 24 52 U. S. Government securities : Bought outright— Bills 24,470 -1,136 +3,814 Certificates Notes 33,236 -- +1,844 Bonds 2,941 -- - 555 Total bought outright 1/ 2/ 60,647 -1,136 +5,103 Held under repurchase agreements — - 144 - 615 Total U. S. Government securities 60,647 -1,280 +4,488 Total loans and securities 60,955 -1,322 +3,619 Cash items in process of collection (2,431) 9,745 - 505 + 646 Bank premises 132 + 3 + 15 Other assets 3/ 1,182 + 50 - 530 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,646) 83,136 -1,770 +3,447 k1 A 1It 11 IE £ Federal Reserve notes (1,215) 49,212 + 342 +3,270 Deposits: Member bank reserves 21,713 -2,084 - 928 U. S. Treasurer—general account 1,742 + 630 + 723 Foreign 129 32 - 7 Other 4/ 721 81 - 32 Total deposits 24,305 -1,567 - 244 Deferred availability cash items (2,431) 7,301 - 603 + 402 Other liabilities and accrued dividends 514 13 - 50 TOTAL LIABILITIES (3,646) 81,332 -1,841 +3, 378 £ A I I 1 t h A C C O U N TS 708 __ + 33 Capital paid in Surplus 702 — + 33 Other capital accounts 394 - 71 + 3 Contingent liability on acceptances purchased for foreign correspondents 275 + + 127 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $1,487 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2,/ Includes $54 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. 4/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 10, 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 T? Within 15 days 253 2,854 - 845 16 days to 90 days 1 39 11,904 - 665 91 days to 1 year 20,085 + 206 Over 1 year to 5 yearss 19,089 Over 5 years to 10 ye*aarrss 6,046 Over 10 years 669 Total 254 54 60,647 •1,304 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 10, 1971 San New Phila Cleve Rich St. Minne Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco 1 (In millions of dollars) —^—— A S S E TS Gold certificate account 10,464 737 3,085 682 845 1,009 546 1,923 510 153 403 409 162 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 1,215 i 137 247 68 95 84 303 45 24 23 31 40 118 Other cash 258 1 11 21 13 29 17 36 38 13 7 19 16 38 Discounts and advances 254 i -- 1 -- -_ -- — 242 -- -- 3 -- 8 Acceptances: Bought outright 54 -- 54 -- -- -- —— -•" —— —- -,— —— — "" Held under repurchase agreements -- -- -- -- -- ~ — -- —— —— -.— —" -- •"• Federal Agency obligations-- Held under repurchase agreements -- __ -- -- — "• —— — — «* mm ••— —— ••" — — "" *• U. S. Government securities: Bought outright— Bills 24,470 1,219 6,259 1,256 1,887 1,830 1,216 3,938 903 488 955 1,114 3,405 Certificates — — -- -- -- -- -- -- -- -- -- -- -- Notes 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 Bonds 2,941 146 752 151 227 220 146 473 109 59 115 134 409 Total bought outright 1/ 2/ 60,647 3,021 15,512 3,114 4,677 4,536 3,013 9,759 2,239 1,210 2 ,367 2,760 8,439 Held under repurchase agreements -• -- -- -- •••• -- -- -- -- -- -- -- -— Total U. S. Government securities 60,647 3,021 15,512 3,114 4,677 4,536 3,013 9,759 2,239 1,210 2 ,367 2,760 8,439 Total loans and securities 60^955 3;021 15,567 3,11^ 4,677 4,536 3,013 10,001 2,239 1,210 T, 370 2,760 oVT4"7 Cash items in process of collection 12,176 665 2,120 598 924 915 1,234 2,005 584 447 817 748 1,119 Bank premises 132 2 8 3 14 11 17 17 13 13 18 8 8 Other assets ^3/ 1,182 63 436 54 77 76 51 154 35 20 38 45 133 TOTAL ASSETS 86,782 4,659 21,577 4,555 6,694 6,684 5,222 14,253 3,433 1,880 3 ,711 4,040 10,074 1/ Includes $1,487 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 27 Includes $54 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 FEBRUARY 10, 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 50,427 2,854 12,066 2,871 4,107 4,521 2,519 8,816 1,921 864 1,845 1,897 6,146 Deposits: Member bank reserves 21,713 969 6,244 944 1,587 1,124 1,396 3,303 840 534 1,013 1,315 2,444 U. S. Treasurer--general account 1,742 109 432 109 101 133 110 164 82 52 99 110 241 Foreign 129 6 1/ 33 7 12 7 9 20 4 3 5 7 16 Other 721 * 2/ 664 3 — 12 1 15 2 2 3 1 18 Total deposits 24,305 1,084 7,373 1,063 1,700 1,276 1,516 3,502 928 591 1,120 1,433 2,719 Deferred availability cash items 9,732 611 1,535 503 687 748 1,048 1,576 503 376 653 592 900 Other liabilities and accrued dividends 514 26 130 25 42 38 25 82 19 10 19 23 75 TOTAL LIABILITIES 84,978 4,575 21,104 4,462 6,536 6,583 5,108 13,976 3,371 1,841 3,637 3,945 9,840 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 394 18 103 21 31 28 19 66 14 7 14 17 56 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 86.782 4.659 21.577 4.555 6 694 6 684 5 222 14,253 3,433 1,880 3,711 4,040 10,074 t t r Contingent liability on ac:ee ptances purchased for forei gn correspondents 275 13 3/ 72 14 25 14 19 41 9_ 6 12 15 35 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,009 12,754 2,942 4,299 4,675 2,787 9,101 1,989 897 1,920 2,024 6,505 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 p4,745 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 $ 96 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 203 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis