H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and •$^£f-' Condition Statement of F.R. Banks H.4.1 For immediate release April 8, 1971 The average of daily figures of total reserves of member banks declined $293 million in the latest statement week to $29,686 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined. A rise in currency in circulation of $318 million, and increases in Treasury deposits with the Federal Reserve Banks and other deposits with the Federa Reserve Banks were the major factors absorbing reserves in the latest statement week. A rise in float was the major factor offsetting these reserve drains. In addition, System Open Market operations supplied $215 million in reserves net, on a weekly average basis. Member bank borrowings averaged $198 million and were $89 million less than excess reserves, compared to $163 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wed nesday, Reserve Bank credit, April 7, March 31, April 8, Ap ril 7, and related items 1971 1971 1970 1971 Reserve Bank credit: (Iri millions of: dollars) U.S. Government securities— 1/ Bought outright--System account 62,709 + 128 +7,035 2/ 62,216 Held under repurchase agreements 472 + 17 + 422 -- Federal Agency obligations— Held under repurchase agreements 87 47 L 84 — Acceptances Bought outright 56 + 3 1 53 Held under repurchase agreements 60 + 20 + 51 47 Discounts and advances-- Member bank borrowings 198 59 - 298 177 Other -- -- - 40 -- Float 2,727 + 202 - 739 3,671 Other F. R. assets 1.010 + 44 -1.143 1.Q26 Total Reserve Bank credit 67,318 + 401 +5,370 67,190 Gold stock 10,732 -- - 635 10,732 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,268 + 13 + 361 7.274 85,718 + 414 +5,096 85,596 Currency in circulation 56,428 + 318 +3,710 56,864 Treasury cash holdings , 489 + 14 87 503 Treasury deposits with F. R. Banks 1,048 + 242 - 108 824 Foreign deposits with F. R. Banks 148 - 14 66 163 Other deposits with F. R. Banks 828 + 134 53 1,015 Other F. R. liabilities and capital 2,281 +_ 83 + 6J. 2 363 r Member bank reserves: 61,222 + 778 +3,459 61,732 With Federal Reserve Banks 24,496 - 364 +1,637 23,865 Currency and coin 5.190 + 71 + 340 5,190 Total reserves held 29,686 - 293 +1,977 29,055 Required reserves 29,399 - 160 +1,869 29,399 Excess reserves 287 - 133 + 108 j - 344 NOTE: A net of $177 million of surplus eserves wei• e el igible to be carr ied forward from the week ended March 31, into the week ending April 7. On April 7, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $15,952 million, an increase of $822 million for the week. V Excludes $575 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions,, 27 Includes $38 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 April 7, March 3l, April 8, 1971 1971 1970 A S S E TS Gold certificate account 10,464 581 Special Drawing Rights certif. accts. * 400 -- — Cash (918) 265 3 + 75 Discounts and advances 177 - 214 - 268 Acceptances: Bought outright 53 ... 5 Held under repurchase agreements 47 38 + 47 Federal Agency obligations— Held under repurchase agreements .... • 185 _ — U. S. Government securities : Bought outright-- Bills 25,013 625 +4,337 Certificates Notes 34,031 — +1,958 Bonds 3,172 — + 357 Total bought outright 1/2/ 62,216 - 625 +6,652 Held under repurchase agreements -1,319 Total U. S. Government securities 62,216 -1,944 +6,652 Total loans and securities 62,493 -2,381 +6,426 Cash items in process of collection 2,405) 11,236 +1,381 +1,214 Bank premises 135 + 1 + 17 Other assets 3/ 891 + 28 -1,164 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS 3,323) 85,884 - 974 +5,987 k I £L ! Ik 11 1% S Federal Reserve notes (918) 50,089 576 +3,598 Deposits: Member bank reserves 23,865 -2,030 +1,920 U. S. Treasurer—general account 824 34 - 185 Foreign 163 38 + 19 Other 4/ 1,015 + 221 + 114 Total deposits 25,867 -1,881 +1,868 Deferred availability cash items (2,405) 7,565 + 223 + 393 Other liabilities and accrued dividends 592 + 46 + 81 TOTAL LIABILITIES (3,323) 84,113 -1,036 +5,940 C A P I T AL A C C O U N TS Capital paid in 718 -»- 1 + 37 Surplus 702 — + 33 Other capital accounts 351 - 61 23 Contingent liability on acceptances purchased for foreign correspondents 249 6 + 75 * Figures in parentheses are the eliminations made in the consol idating process, 1/ Excludes $575 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $38 million securities loaned—fully secured by U.S Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies and IMF goI d deposited. 4/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 7, 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 Dis counts and Federal Agency obligations advances Acceptances Holdings Weekly changes Within 15 days 176 55 2,730 -1,704 16 days to 90 days 1 45 14,686 + 272 91 days to 1 year __ ~- 14,239 - 695 Over 1 year to 5 years _- -- 23,617 2 Over 5 years to 10 years -- 6,080 -- Over 10 years 864 — Total Tff 100 62,216 -2,129 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 APRIL 7, 1974 San New Phila Cleve Rich St Minne Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) A S S E TS Gold certificate account 10,464 859 1,565 685 760 988 638 2,187 473 154 427 492 1,236 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 918 112 213 29 48 47 323 20 14 9 24 16 63 Other cash 265 10 23 9 28 16 36 36 15 7 28 16 41 Discounts and advances 177 __ 4 * « _ 3 167 1 2 * _. mm a. m* mm Acceptances: Bought outright i 53 __ 53 — -- -- — -- -- — — — Held under repurchase agreements 1 47 — 47 -- -- -- -- -- -- -- Federal Agency obligations— Held under repurchase agreements -- — -_ -- -- -- -- -- -- -- -- — U. S. Government securities: Bought outright— Bills 25,013 1,253 6,385 1,299 1,938 1,876 1,224 4,044 941 493 977 1,166 3,417 Certificates -- — __ -- -- -- -- -- -- -- -- -- Notes 34,031 11,705 8,686 1,768 2,638 2,552 1,664 5,502 1 ,281 671 1 ,329 1,586 4,649 Bonds 3,172 159 810 164 246 238 155 513 119 63 124 148 433 Total bought outright 1/2/ 62,216 3,117 15,881 3,231 4,822 4,666 3,043 10,059~ 2 ,341 1,227 I ,430 2,900 8,499 Held under repurchase agreements -- -- -- -- -- — — — -- -- -- -- Total U. S. Government securities 62,216 3.117 15,881 3,231 4.822 4.666 3.043 10.059 2 .341 1.227 2_. 430 2.900 8.499 Total loans and securities 62,493 3,117 15,985 3,231 l,m 4,669 3,043 10,226 2 ,341 1,228 2 ,432 2,900 8,499 Cash items in process of collection 13,641 700 3,147 724 892 936 1,288 2,085 643 463 842 772 1,149 Bank premises 135 2 8 3 15 11 17 17 13 14 18 9 8 Other assets 3/ 891 49 343 41 55 56 34_ 112 26 17 28 34 96 TOTAL ASSETS 89,207 4,872 21,377 4,745 6,653 6,759 5,401 14,753 3 ,540 1,899 3 ,814 4,253 11,141 V Excludes $575 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions, 2/ Includes $38 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. * 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 APRIL 7, 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 51,007 2,864 12,196 2,935 4,141 4,559 2,517 8,924 1,956 877 1,884 1,945 6,209 Deposits: Member bank reserves 23,865 1,228 6,091 1,078 1,491 1,169 1,578 3,732 942 506 1,045 1,483 3,522 U. S. Treasurer—general account 824 55 6 9 76 108 108 53 73 69 105 103 59 Foreign 163 6 1/ 63 7 12 7 9 20 5 3 6 8 17 Other 1,015 * 2/ 9 50 2 1 15 2 6 8 1 2 3 25 Total deposits 25,867 1,289 7,110 1,096 1,580 1,299 1,697 3,811 1,028 579 1,158 1,597 3,623 Deferred availability cash items 9,970 611 1,479 599 736 764 1,049 1,666 476 393 678 593 926 Other liabilities and accril ed dividends 592 26 130 24 40 37 25 82 19 12 20 23 154 TOTAL LIABILITIES 87,436 4,790 20,915 4,654 6,497 6,659 5,288 14,483 3,479 1,861 3,740 4,158 10,912 CAPITA). ACCOUNTS Capital paid in 718 33 188 37 65 37 49 108 24 16 31 40 90 Surplus 702 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 351 16 89 18 28 27 17 57 13 6 13 16 51 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 89,207 4,872 21,377 4,745 6,653 6,759 5,401 14,753 3,540 1,899 3,814 4,253 11,141 Contingent liability on ace: eptances purchased for foreign 249 12 3/ 66 13 22 13 17 37 8 6 10 14 31 correspondents FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,008 12,845 2,999 4,293 4,674 TJW 9,189 2,032 902 1,968 2,068 6,439 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 2,025 2,130 7,000 Total collateral 3,090 13,100 3,100 4,410 4,710 2,900 9,450 2,085 930 2,025 2,135 7,000 1/ After deducting $100 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. Digitized for FRAS3ER/ After deducting $183 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis