H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and AL RE £ ' ?.- Condition Statement of F.R. Banks H.4.1 For immediate release April 22, 1971 The average of daily figures of total reserves of member banks increased $352 million in the latest statement week to $29,973 million. Required reserves increased while both excess reserves and member bank borrowings at Federal Reserve Banks declined. A rise in the level of Treasury deposits with Federal Reserve Banks was the major factor absorbing reserves in this latest statement week. This reserve drain was more than offset by increases in float and other Federal Reserve assets along with declines in currency in circulation and other Federal Reserve liabilities and capital. In addition, System Open Market operations provided $414 million in reserves net, on a weekly average basis. Member Bank borrowings averaged $85 million and were $37 million less than excess reserves, compared to $51 million less for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 21, April 14, April 22, April 21, and related items 1971 1971 1970 1971 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 63,394 + 473 +7,562 1/ 63,394 Held under repurchase agreements 124 - 50 6 573 Federal Agency obligations- Held under repurchase agreements 8 11 5 48 Acceptances Bought outright 54 + 1 2 53 Held under repurchase agreements 10 + 1 4 39 Discounts and advances— Member bank borrowings 85 65 - 884 89 Other - 47 Float 280 + 332 - 291 2,992 Other F. R. assets 177 + 124 -1,054 1,164 Total Reserve Bank credit 68,131 + "837 +5;268 6S735T Gold stock 10,732 - 635 10,732 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 7.296 + 12 + 372 7,297 86)559 "5T6~ +5,005 86,781 Currency in circulation 56,880 91 +3,935 56,846 Treasury cash holdings 502 + 5 65 512, Treasury deposits with F. R. Banks 945 + 138 - 213 1,470 Foreign deposits with F. R. Banks 141 21 2 150 Other deposits with F. R. Banks 760 33 - 103 715 Other F. R. liabilities and capital 2,112 96 + 70. 2.137 Member bank reserves: 61,339 33 +3,620 61,830 With Federal Reserve Banks 25,220 849 +1,385 24,951 Currency and coin 4.753 497 + 216 4,753 Total reserves held 29,973 + 33T +1,601 29,/U4 Required reserves 29,851 + 431 +1,637 29,851 Excess reserves 122 79 - 36 - 147 NOTE: A net of $172 million of surplus reserves were eligible to be carried forward from the week ended April 14, into the week ending April 21. On April 21, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $16,210 million, an increase of $195 million for the week. 1/ Includes $29 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 21,| April 14, April 22, 1971 1971 1970 A S S E TS Gold certificate account 10,464 - 581 Special Drawing Rights certif. accts. * 400 Cash (1,045) 254 13 + 59 Discounts and advances 89 127 -1,262 Acceptances: Bought outright 53 2 5 Held under repurchase agreements 39 + 10 - 26 Federal Agency obligations— Held under repurchase agreements 48 + 48 + 23 U. S. Government securities : Bought outright— Bills 25,994 490 +5,302 Certificates Notes 34,180 -- +2,107 Bonds 3,220 — + 405 Total bought outright 1/ 63,394 + 490 +7,814 Held under repurchase agreements 573 + 573 + 100 Total U. S. Government securities 63,967 + 1,063 +7,914 Total loans and securities 64,196 + 99T +6,644 Cash items in process of collection (3,433) 12,049 + 487 + 673 Bank premises 136 — + 18 Other assets 2/ 1,028 + 79 -1,108 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS 88,527 + 1,545 +5,705 (4,478) LIA.BI.IiIl.IJLi Federal Reserve notes (1,045) 50,047 269 +3,584 Deposits: Member bank reserves 24,951 + 856 + 975 U. S. Treasurer--general account 1,470 + 698 + 529 Foreign 150 + 2 - 39 Other 3/ (186) 722 - 33 - 163 Total deposits (179) 27,293 + 1. ,523 +1,302 Deferred availability cash items (3,254) 9,050 + 235 + 752 Other liabilities and accrued dividends TOTAL LIABILITIES (4,478) 86,908 + 1,487 +5,649 C A P I T AL A C C O U N TS Capital paid in*" 719 + 1 + 38 Surplus 702 + 33 Other capital accounts 198 + 57 15 Contingent liability on acceptances purchased for foreign correspondents 237 - 5 + 50 * Figures in parentheses are the eliminations made in the consolidating proces s. 1/ Includes $29 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, APRIL 21, 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 advance; s Acceptances Holdings Weekly changes Within 15 days 88 50 4,858 + 1,926 16 days to 90 days 1 42 13,620 - 924 91 day8 to 1 year 14,779 + 109 Over 1 year to 5 year•ss 23,736 Over 5 years to 10 yetaarrss — 6,142 Over 10 years 880 Total 89 92 64,015 + 1,111 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 21, 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 10,464 638 1,944 644 939 843 650 1,949 308 191 346 518 1,494 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 1,045 108 229 41 55 75 335 29 20 12 33 18 90 Other cash 254 10 24 8 27 18 34 33 15 7 27 15 36 Discounts and advances 89 I —- 1 10 1 3 __ 70 2 1 1 * __ Acceptances: Bought outright 53 -- 53 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements 39 -- 39 -- -- -- -- -- — -- -- -- -- Federal Agency obligations- Held under repurchase agreements 48 48 -- -- -- U. S. Government securities: Bought outright— Bills 25,994 1,302 6,635 1,351 2,014 1,950 1,271 4,202 978 513 1,015 1,212 3,551 Certificates Notes 34,180 11,713 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 i/ 63,394 3,176 16,181 3,293 4,913 4,754 3,100 10,249 2,386 ~~T, 251 2,476 2,955 8,660 Held under repurchase agreements 573 -- 573 -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities 63,967 3,176 16,754 3,293 4,913 4,754 3,100 10,249 2,386 ~T, 251 2,476 2,955 8,660 Total loans and securities 64,196 3,176 16,895 3,303 4,914 4,757 3,100 10,319 2,388 l ,252 2,477 2,955 8,660 Cash items in process of collection 15,482 905 2,699 883 1,142 1,188 1,595 2,394 796 529 1,125 761 1,465 Bank premises 136 2 8 3 16 11 17 17 13 14 18 9 8 Other assets 2/ 1,028 54 392 46 62 77. 40 129 30 17 32 40 109 TOTAL ASSETS 93,005 4,916 22,284 4,951 7,188 7,005 5,793 14,940 3,585 2 ,029 4,073 4,330 11,911 1/ Includes $29 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. * i th £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 21, 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 51,092 2,880 12,201 2,959 4,149 4,556 2,512 8,958 1,964 883 1,887 1,963 6,180 Deposits: Member bank reserves 24,951 784 6,656 1,053 1,763 1,277 1,713 3,575 870 593 1,073 1,556 4,038 U. S. Treasurer—general account 1,470 112 247 123 123 104 88 132 67 43 95 106 230 Foreign 150 6 1/ 54 7 12 7 9 20 4 3 5 7 16 Other 901 4 7/697 11 9 23 34 23 18 5 43 2 32 Total deposits 27,472 906 7,654 1,194 1,907 1,411 1,844 3,750 959 644 1,216 1,671 4,316 Deferred availability cash items 12,304 1,029 1,870 690 947 912 1,306 1,905 588 455 881 584 1,137 Other liabilities and accnl ed dividends 518 26 135 25 40 38 25 82 19 11 21 24 72 TOTAL LIABILITIES 91,386 4,841 21,860 4,868 7,043 6,917 5,687 14,695 3,530 1, 993 4,005 4,242 11,705 CAPITAL ACCOUNTS Capital paid in 719 33 188 37 66 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 198 9 51 10 16 15 10 32 7 4 7 9 28 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 93,005 4,916 22,284 4,951 7,188 7,005 5,793 14.940 3.585 2 .029 4.073 4.330 11.911 Contingent liability on ac:ee ptances purchased for fore]L gn _ correspondents 237 11 3/ 63 12 21 L2_ 16 26_ S_ _ 5 L0_ L3_ 3JL FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 53,549 3,039 12,870 3,060 4,316 4,707 2,754 9,255 2,055 913 1,979 2,116 6,485 Collateral for F. R. notes: Gold certificate account 3,250 250 500 300 510 530 1,000 155 5 U. S. Government securities 51.955 2,840 12,600 2.900 3.900 4.250 2 900 8 4.50 1.980 930 2,025 2,180 7,000 r r Total.collateral 55,205 3,090 13,100 3,200 _4,410_ 4,780 2,900 _9,_450_ 2,135 930 2,025 2,185 7,000 17 After deducting $ 96 million participations of other Federal Reserve Banks, 27 Includes IMF gold deposit. 3/ After deducting $ 174 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis