H.4.1 Factors Affecting Reserve Balances of Depository Institutions

of cow-' FEDERAL RESERVE Factors Affecting Bank Reserves and •••$»?•• Condition Statement of F.R. Banks H.4.1 For immediate release March 25, 1971 The average of daily figures of total reserves of member banks declined $426 million to $29,501 million. Required reserves and excess reserves both declined while member bank borrowings at Federal Reserve Banks increased by a small amount. An increase in float of $348 million was the major factor supplying reserves in the latest statement week. Augmenting this source of reserves were a small increase in other Federal Reserve assets and declines in currency in circulation and other deposits with Federal Reserve Banks. Increases in reserves from these factors were offset in part by an increase in Treasury deposits with Federal Reserve Banks. In addition, System Open Market Operations absorbed $559 million in reserves net, on a weekly average basis. Member bank borrowings averaged $333 million and exceeded Excess reserves by $270 million, compared to $56 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, March 24, March 17, I March 25,M arch 24, and related items 1971 1971 1970 1971 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 62,423 + 122 +6,598 1/ 62,405 Held under repurchase agreements 83 554 + 76 41 Federal Agency obligations— Held under repurchase agreements 90 Acceptances Bought outright 54 + 6 + 1 51 Held under repurchase agreements 27 - 43 + 24 10 Discounts and advances-- Member bank borrowings 333 43 - 603 819 Other -- -- - 40 Float 2,862 + 348 + 197 2,074 Other F. R. assets 922 + 43 -1,167 981 Total Reserve Bank credit 66,708 V "T24 +5,084 66,390 Gold stock 10,732 -- - 635 10,732 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,242 + 12 + 348 7,249 85,081 - 114 +4,796 84,771 Currency in circulation 56,213 - 87 +3,754 56,220 Treasury cash holdings 465 + 2 - 108 479 Treasury deposits with F. R. Banks 743 + 196 - 480 926 Foreign deposits with F. R. Banks 121 _ 20 66 146 Other deposits with F. R. Banks 698 - 44 94 669 Other F. R. liabilities and capital 2,141 + 2 + 52 2: 180 60,381 + 48 +3,058 60, 620 Member bank reserves: With Federal Reserve Banks 24,700 - 162 +1,738 24, 151 Currency and coin 4,801 - 264 + 291 4,8 01 Total reserves held 2299,,550011 -- 442266 ++22,,002299 I 28,952 Required reserves 2299,,443388 _- 225555 ++22,,006622 29,438 63 - 171 33 Excess reserves 63 - 171 33 - 486 NOTE: A net of $106 million of surplus reserves were eligible to be carried forward from the week ended March 17, into the week ending March 24. On March 24, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $14,919 million an increase of $214 million for the week. \J Includes $64 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 March 24, March 17, March 25, 1971 1971 1970 A S S E TS Gold certificate account 10,464 •m «• 581 Special Drawing Rights certif. acctss.. * 400 -- — Cash (1,066) 270 + 1 + 79 Discounts and advances 819 + 253 - 775 Acceptances: Bought outright 51 + 1 2 Held under repurchase agreements 10 - 88 13 Federal Agency obligations-- Held under repurchase agreements 87 34 U. S. Government securities : Bought outright-- Bills 25,479 42 44,835 Certificates Notes 33,825 + 48 +1,752 Bonds 3,101 + 14 + 286 Total bought outright 1/ 62,405 + 104 +6,873 Held under repurchase agreements 41 - 616 - ,5 Total U, S. Government securities 62,446 - 512 +6,868 Total loans and securities 63,335 - 433 +6,044 Cash items in process of collection (2,714) 9,410 -1 ,868 +1,161 Bank premises 134 + 18 Other assets 2/ 847 + 60 -1,138 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNT? •i (3,780) 84,860 ^240 +5,583 Federal Reserve notes (1,066) 49,452 134 +3,349 Deposits: Member bank reserves 24,151 -1,438 +1,583 U. S. Treasurer—general account 926 + 563 - 553 Foreign 146 + 12 - 48 Other V 669 - 49 - 146 Total deposits 25,892 - 912 + 836 Deferred availability cash items (2,714) 7,336 -1,271 +1,324 Other liabilities and accrued dividends 537 + 12 + 24 TOTAL LIABILITIES (3,780) 83,217 -2,305 +5,533 £ £ P I T A L A C C O U N TS Capital"~paid in "" "~ "" 715 2 + 34 Surplus 702 + 33 Other capital accounts 226 63 17 Contingent liability on acceptances purchased for foreign correspondents 259 87 Vc Figures in parentheses are the eliminations made in the consolid ating process. 1/ Includes $64 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, MARCH 24, 1971 1 . "• i>»»ww» ——— m i.i i|i|ii—w—p^—iiw^iii dm i I i i( •" i mi! in • •nn •• 11 M •» (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 817 22 3,480 -787 16 days to 90 days 2 39 14,516 +236 91 days to 1 year „ -• 14,174 -110 Over 1 year to 5 year'Ss — 23,452 + 16 Over 5 years to 10 >ars 6,001 + 31 jm « Over 10 years — zz. 832 + 15 Total 819 61 62,455 •1-" H 59t9 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 MARCH 24, 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 10,464 601 2,499 614 960 926 489 1,810 391 164 403 451 1,156 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks i 1,066 1 120 246 35 60 69 334 28 18 12 24 23 97 Other cash 270 ! 11 21 10 30 i6 37 39 15 7 28 17 39 Discounts and advances 819 1 2 427 * 2 14 14 356 -- * 3 — 1 Acceptances: Bought outright 51 -- 51 -- -- -- -- -- -- -- -- -- Held under repurchase agreements 10 -- 10 -- -- -- -- -- -- -- -- -- Federal Agency obligations— Held under repurchase agreements 9 9 U. S. Government securities: Bought outright— Bills 25,479 1,278 6,478 1,317 1,955 1,921 1,276 4,153 945 512 1,005 1,179 3,460 Certificates Notes 33,825 1,696 8,600 1,749 2,595 2,550 1,693 5,514 1,255 679 1,335 1,566 4,593 Bond s 3,101 156 788 160 238 234 155 506 115 62 122 144 421 r Total bought outright 1/ 62,405 3,130 15,866 3,226 4,788 4,705 3,124 10,173 2,315 ,253 2,462 2,889 8,474 Held under repurchase agreements 41 -- 41 -- -- -- -- -- -- -- -- -r Total U. S. Government securities 62,446 3,130 15,907 3,226 4,788 4,705 3,124 10,173 2,315 ,253 2,462 2,889 8,474 Total loans and securities 63,335 3,132 16,404 3,226 4,790 4,719 3,138 10,529 2,315 i ,253 2,465 2,889 8,475 Cash items in process of collection 12,124 678 2,042 650 856 985 1,222 2,023 568 452 790 766 1,092 Bank premises 134 2 8 3 15 11 17 17 13 13 18 9 8 Other assets ^/ 847 44 325 38 48 50 29 97 22 12 23 28 131 88,640 4,611 21,638 4,599 6,792 6,812 5,288 14,613 3,357 i ,920 3,766 4,197 11,047 TOTAL ASSETS 1/ Includes $64 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 MARCH 24, 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 50,518 2,856 12,113 2,900 4,118 4,496 2,492 8,849 1,934 868 1,856 1,913 6,123 Deposits: Member bank reserves 24,151 979 6,661 1,009 1,605 1,230 1,526 3,703 813 577 1,039 1,521 3,488 U. S. Treasurer—general account 926 27 134 58 70 153 81 47 44 29 61 58 164 Foreign 146 7 1/ 42 7 13 7 9 21 5 3 6 8 18 Other 669 * 2/617 2 — 15 1 8 * 4 2 2 18 Total deposits 25,892 1,013 7,454 1,076 1,688 1,405 1,617 3,779 862 613 1,108 1,589 3,688 Deferred availability cash items 10,050 640 1,514 512 772 782 1,046 1,654 487 393 713 583 954 Other liabilities and accrued dividends 537 26 130 26 68 38 26 82 18 10 20 23 70 TOTAL LIABILITIES 86,997 4,535 21,211 4,514 6,646 6,721 5,181 14,364 3,301 1,884 3,697 4,108 10,835 CAPITAL ACCOUNTS Capital paid in 715 33 186 37 65 37 49 107 24 16 31 40 90 Surplus 702 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 226 10 56 12 18 18 11 37 8 4 8 10 34 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 88,640 4,611 21,638 4,599 6,792 6,812 5,288 14,613 3,357 1,920 3,766 4,197 11,047 Contingent liability on ac:ee ptances purchased for forei- gn correspondents 249 12 3/ 68 13 23 13 17 39 9 6_ 11 15 33 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,008 12,789 2,973 4,290 4,646 2,756 9,112 2,021 894 1,947 2,055 6,435 Collateral for F. R. notes: Gold certificate account 250 500 300 510 500 — 1,000 155 5 U. S. Government securities 2.840 12.600 2.800 3,900 4,210 2,900 8,450 1.930 930 1.975 2.130 7,000 Total collateral 3,090 13,100 3,100 4,410 4,710 2,900 9,450 2,085 930 1,975 2,135 7,000 1/ After deducting $104 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $191 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis