H.4.1 Factors Affecting Reserve Balances of Depository Institutions

;0f GOV;- FEDERAL RESERVE factors Affecting Bank Reserves and ^Condition Statement of F.R. Banks H.4.1 For immediate release April 15, 1971 The average of daily figures of total reserves of member banks decreased $65 million to $29,621 million in the latest statement week. Required reserves increased while both excess reserves and member bank borrowings at Federal Reserve Banks declined. An increase in float and a decline in Treasury deposits with Federal Reserve Banks were the major factors supplying reserves in this latest statement week. Reserves were drained by a greater than seasonal rise in currency in circulation. In addition, System Open Market operations absorbed $208 million of reserves net, on a weekly average basis. Some of this net absorption was through matched sale-purchase transactions made at the end of the statement week. Member Bank borrowings averaged $150 million and were $51 million less than excess reserves, compared to $89 million less for the previous week. Averages c> f daily figures Member bank reserves, Week ended Change from week ended Wedn esday, Reserve Bank credit, April 14, Apr1 1 7, April 15, Apir il 14, and related items 1971 1971 1970 1971 Reserve Bank credit: (Iri millions o:f dollars) U.S. Government securities— 1/ Bought outright--System account 62,921 + 212 +7,091 2/ 62,904 Held under repurchase agreements 174 - 298 90 — Federal Agency obligations— Held under repurchase agreements 19 68 8 — Acceptances Bought outright 53 . 3 5 55 Held under repurchase agreements 9 - 51 31 29 Discounts and advances-- Member bank borrowings 150 48 - 867 216 Other — -- - 40 _-. Float 2, 948 + 221 + 34 2,642 Other F. R. assets 1,053 + 43 -1,136 1,085 Total Reserve Bank credit 67,328 + 10 +4,949 66,931 Gold stock 10,732 -- - 635 10,732 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,284 + 16 + 370 7^290 85,743 + 25 +4,683 85,353 Currency in circulation 56,971 + 543 +3,983 57,102 Treasury cash holdings 497 + 8 70 504 Treasury deposits with F. R. Banks 807 - 241 - 147 772 Foreign deposits with F. R. Banks 162 + 14 + 26 148 Other deposits with F. R. Banks 727 - 101 - 149 755 Other F. R. liabilities and capital 2,208 - 73 + 47 2,081 61,372 + 150 +3,690 61,362 Member bank reserves: With Federal Reserve Banks 24,371 - 125 + 993 23,990 Currency and coin 5,250 + 60 + 366 5,250 Total reserves held 29,621 - 65 +1,359 29,240 Required reserves 29,420 + 21 +1,260 29,420 Excess reserves 201 - 86 + 99 - 180 NOTE: A net of $175 million of surplus reserves were eligible to be carried forward from the week ended April 7, into the week ending April 14. On April 14, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $16,015 million, an increase of $63 million for the week. V Excludes $490 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $47 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 14, April 7, April 15, 1971 1971 1970 A S S E TS .. Gold certificate account 10,464 581 Special Drawing Rights certif. acctss. * 400 -- -- Cash (908) 267 + 2 + 78 Discounts and advances 216 + 39 -1,220 Acceptances: Bought outright 55 + 2 3 Held under repurchase agreements 29 - 18 29 Federal Agency obligations- Held under repurchase agreements 60 U. S. Government securities : Bought outright-- Bills 25,504 + 491 +4,516 Certificates Notes 34,180 + 149 +2,107 Bonds 3,220 + 48 + 405 Total bought outright 1/ 2/ 62,904 + 688 +7,028 Held under repurchase agreements — — - 444 Total U. S. Government securities 62,904 + 688 +6,584 Total loans and securities 63,204 + 711 +5,272 Cash items in process of collection (2,946) 11,457 + 162 - 103 Bank premises 136 + 1 + 18 Other assets 3/ 949 + 58 -1,143 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,854) 86,877 + 934 +3,541 tl A B ^L I T ^E S Federal Reserve notes (908) 50,316 227 +3,715 Deposits: Member bank reserves 23,990 + 66 - 347 U. S Treasurer—general account 772 52 - 97 k Foreign 148 15 - 4 Other 4/ 755 - 260 - 171 Total deposits 25,665 - 261 - 619 Deferred availability cash items (2,946) 8,815 +1,250 + 381 Other liabilities and accrued dividends 520 72 + 2 TOTAL LIABILITIES (3,854) 85,316 +1,144 +3 ,479 C A P I T AL A C C O U N TS Capital paid in 718 __ + 37 Surplus 702 -- + 33 Other capital accounts 141 • 210 - 8 Contingent liability on acceptances purchased 242 7 + 64 for foreign correspondents * Figures in parentheses are the eliminations made in the consolidating process. \J Reflects $490 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $47 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies and IMF gold deposited. Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 14, 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 advanceI B Acceptances Holdings Weekly changes Within 15 days 215 37 2,932 +202 16 days to 90 days 1 47 14,544 -142 91 days to 1 year -_ -- 14,670 +431 Over 1 year to 5 year•ss -- 23,736 +119 Over 5 years to 10 ye>aarrss -- 6,142 + 62 Over 10 years — -^ 880 + 16 Total 216 84 62,904 +688 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 14, 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 10,464 549 2,691 575 800 803 538 2,139 350 190 272 481 1,076 Special Drawing Rights certif. acct. 400 1 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 908 102 208 32 41 53 319 23 14 9 31 16 60 Other cash 267 10 24 9 28 17 35 36 16 7 29 16 40 Discounts and advances 216 __ 128 ... __ 2 __ 84 __ * 2 * - - Acceptances: Bought outright 55 55 — — ™*"™ ™ *" — — *~ ~ Held under repurchase agreements 29 29 — -- -- -- — — Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outright— Bills 25,504 11,278 6,510 1,325 1,977 1,913 1,247 4,123 959 503 996 1,189 3,484 Certificates Notes 1 34,180 1,713 8,724 1,775 2,649 2,563 1,672 5,526 1,287 674 1,335 1,593 4,669 Bonds ! 3,220 ! 161 822 167 250 241 157 521 121 64 126 150 440 Total bought outright \J 2/ 62,904 13,152 16,056 3,267 4,876 4,717 3,076 10,170 2,367 1 ,241 2,457 2,932 8,593 Held under repurchase agreements -- -- — -- -- -- -- -- -- -- — -- -- Total U. S. Government securities 62,904 3,152 16,056 3,267 4,876 4,717 3,076 10,170 2,367 1 ,241 2,457 2,932 8,593 Total loans and securities 63,204 3,152 16,268 3,267 4,876 4,719 3,076 10,254 2,367 1 ,241 2,459 2,932 8,593 Cash items in process of collection 14,403 787 2,272 803 1,071 1,174 1,442 2,346 736 473 954 888 1,457 Bank premises 136 2 8 3 16 11 17 17 13 14 18 9 8 Other assets 3/ 949 52 359 47 59 62 38 121 28 15 29 36 103 TOTAL ASSETS 90,731 4,677 21,923 4,759 6,924 6,875 5,487 15,006 3,539 1 ,956. 3,807 4,392 11,386 \J Excludes $490 million of securities sold, and scheduled to be bought back, under matched sale- purchase transactions. 2/ Includes $47 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. <s ™ ™n — & * Less than $50c0,000 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 14, 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 51,224 2,880 12,213 2,961 4,158 4,574 2,525 8,973 1,969 884 1,893 1,962 6,232 Deposits: Member bank reserves 23,990 937 6,508 993 1,569 1,141 1,562 3,733 843 581 994 1,541 3,588 U. S. Treasurer—general account 772 34 152 46 56 51 65 74 44 20 43 49 138 Foreign 148 7 1/ 42 7 13 7 10 22 5 3 6 8 18 Other 755 * 2/704 2 1 14 1 4 1 1 2 4 21 Total deposits 25,665 978 7,406 1,048 1,639 1,213 1,638 3,833 893 605 1,045 1,602 3,765 Deferred availability cash items 11,761 721 1,766 644 946 967 1,195 1,882 605 421 784 718 1,112 Other liabilities and accnt ed dividends 520 26 130 26 40 38 25 83 19 11 19 24 79 TOTAL LIABILITIES 89,170 4,605 21,515 4,679 6,783 6,792 5,383 14,771 3,486 1,921 3,741 4,306 11,188 CAPITAL 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 141 6 35 7 13 10 8 22 5 3 5 7 20 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 90,731 4,677 21,923 4,759 6,924 6,875 5,487 15,006 3,539 1,956 3,807 4,392 11,386 Contingent liability on ace: eptances purchased for forei- gn correspondents 242 11 3/ 64 12 22 12 16 36 8 6 10 14 31 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,039 12,861 3,029 4,317 4,697 2,749 9,244 2,047 915 1,976 2,077 6,479 Collateral for F. R. notes: Gold certificate account 250 500 300 510 530 1,000 155 5 U. S. Government securities 2,840 12,600 2,900 3,900 4,210 2,900 8.450 1.930 930" 2.025 2.130 7.000 Total collateral 3,090 13,100 3,200 4,410 4,740 2,900 9,450 2,085 930 2,025 2,135 7,000 1/ After deducting $106 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $178 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis