H.4.1 Factors Affecting Reserve Balances of Depository Institutions

sS=£&; FEDERAL RESERVE Factors Affecting Bank Reserves and '••?«£V Condition Statement of F.R. Banks H.4.1 For immediate release April 29, 1971 The average of daily figures of total reserves of member banks increased $209 million in the latest statement week to $30,196 million. Excess reserves declined while required reserves and member bank borrowings at Federal Reserve Banks both increased. The major factor supplying reserves in the latest statement week was a seasonal decline in currency in circulation. This reserve supply was more than offset by an increase in Treasury deposits with Federal Reserve Banks of $393 million. In addition, System Open Market Operations absorbed $38 million reserves net, on a weekly average basis. Excess reserves were $95 million less than member bank borrowings compared to the previous week when excess reserves exceeded borrowings by $51 million. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 28, April 21, April 29, April 28, and related items 1971 1971 1970 1Q71 Reserve Bank credit: (Iri millions of: dollars) U.S. Government securities— Bought outright—System account 63,424 + 30 +7,664 1/ 63,659 Held under repurchase agreements 51 - 73 - 187 353 Federal Agency obligations- Held under repurchase agreements 1 7 18 8 Acceptances Bought outright 53 w 1 6 53 Held under repurchase agreements 23 + 13 4 35 Discounts and advances-* Member bank borrowings 177 + 92 - 717 716 Other — — - 90 -- Float 3,264 - 30 + 104 2,849 Other F. R. assets 1,152 - 25 -1,115 1,197 Total Reserve Bank credit 68,144 - 1 +5,630 68,870 Gold stock 10,732 — - 635 10,732 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,309 + 13 + 378 7,310 86,585 + 12 +5,373 87,312 Currency in circulation 56,610 - 270 +3,793 56,713 Treasury cash holdings 506 + 4 - 53 508 Treasury deposits with F. R. Banks 1,338 + 393 46 1,401 Foreign deposits with F. R. Banks 140 - 1 18 133 Other deposits with F. R. Banks 704 - 56 - 159 683 Other F. R. liabilities and capital 2,166 + 54 + 56 2 195 ? Member bank reserves: 61,463 + 124 +3,572 61,633 With Federal Reserve Banks 25,123 - 111 +1,803 25,679 Currency and coin 5,073 + 320 + 267 5,073 Total reserves held 30,196 + 209 +2,070 30,752 Required reserves 30,114 + 263 +2,100 1 30,114 Excess reserves 82 "• 54 - 30 ; 638 NOTE: A net of $72 million of surplus reserves were eligible to be carried forward from the week ended April 21, into the week ending April 28. On April 28, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $17,080 million, an increase of $870 million for the week. 1/ Includes $32 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 28, Week at Year ago 1971 Apr. 21[ ,1971 Apr. 29,1970 A S S E TS Gold certificate account 10,475 + 11 570 Special Drawing Rights certif. accts. * 400 — — Cash (1,033) 253 1 57 "• Discounts and advances 716 627 210 Acceptances: Bought outright 53 -- 5 Held under repurchase agreements 35 4 + 35 Federal Agency obligations— Held under repurchase agreements 40 U. S. Government securities : Bought outright-- Bills 26,259 265 5,062 Certificates Notes 34,180 -- + 2,107 Bonds 3,220 -- + 405 Total bought outright / 63,659 + 265 + 7,574 Held under repurchase agreements 353 - 220 + 353 Total U. S. Government securities 64,012 + 45 + 7.927 Total loans and securities 64,824 + 628 + 7,755 Cash items in process of collection (3,106) 11,195 - 962 + 827 Bank premises 136 — + 19 Other assets 2_/ 1,061 + 33 - 1,073 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (4,139) 88,344 - 291 + 7,015 Federal Reserve notes (1,033) 49,907 140 3,379 Deposits: Member bank reserves 25,679 + 620 + 3,029 U. S. Treasurer—general account 1,401 - 69 + 34 Foreign 133 - 17 - 91 Other 3J 683 - 39 - 186 Total deposits 27,896 + 495 + 2,786 Deferred availability cash items (3,106) 8,346 - 704 + 793 Oth T e O r T AL l ia L b I i A l B i I t L i I e T s I ES a nd accrued dividends (4,139) 86,6 5 5 1 9 " ~ ~35? + + 6,960 C A P I T AL A C C O U N TS Capital paid in 721 2 + 39 Surplus 702 -- + 33 Other capital accounts 262 64 - 17 Contingent liability on acceptances purchased for foreign correspondents 235 _ 2 + 41 * Figures in parenthes are the eliminations made in the consolidating process• 1/ Includes $32 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. 37 Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, April 28, 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 Acceps tances Holdings Weekly changes Within 15 days 715 47 4,549 309 16 days to 90 days 1 41 13,457 163 91 days to 1 year — -- 15,256 + 477 Over 1 year to 5 y ars -- 23,736 — Over 5 years to 10 yyeeaarrss — 6,142 — Over 10 years __, — — 880 — Total 716 88 64,020 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 28, 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 10,475 464 1,929 651 668 920 617 1,991 317 191 278 397 2,052 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 1,033 112 248 42 60 73 289 29 19 12 29 28 92 Other cash 253 10 24 8 27 21 34 33 14 6 26 16 34 Discounts and advances 716 74 350 11 10 9 211 36 Acceptances: Bought outright 53 53 Held under repurchase agreements 35 35 Federal Agency obligations— Held under repurchase agreements 8 8 U. S. Government securities: Bought outright— Bills 26,259 1,316 6,703 1,364 2,035 1,969 1,284 4,246 988 518 1,025 1,224 3,587 Certificates Notes 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 1/ 63,659 3,190 16,249 3,306 4,934 4,773 3,113 10,293 2,396 1,256 2,486 2,967 8,696 Held under repurchase agreements 353 353 Total U. S. Government securities 64,012 3,190 16,602 3,306 4,934 4,773 3,113 10,293 2,396 1,256 2,486 2^967 8,696 Total loans and securities 64,824 3,264 17,048 3,313 4,945 4,783 3,122 10,504 2,400 1,257 2,489 2,967 8,732 Cash items in process of collection 14,301 758 2,423 873 997 1,053 1,479 2,251 740 494 1,107 880 1,246 Bank premises 136 2 8 3 16 11 17 17 13 14 18 9 8 Other assets 2/ 1,061 -(• 57 369 51 88 68 43 136 32 17 33 51 116 92,483 4,690 22,142 4,964 6,834 6,965 5,623 15,031 3,550 1,998 3,995 4,362 12,329 TOTAL ASSETS 1/ Includes $32 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. \l Includes assets denominated in foreign currencies and IMF gold deposited. ^ ^5QQ ^ QQQ 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 28, 1971 Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fr S a a n n 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 50,940 2,871 12,154 2,950 4,135 4,558 2,501 8,933 1,959 882 1,886 1,958 6,153 Deposits: Member bank reserves 25,679 873 6,775 1,097 1,551 1,293 1,610 3,818 898 600 1,058 1,449 4,657 U. S. Treasurer—general account 1,401 139 279 86 89 92 118 84 58 34 36 138 198 Foreign 133 6 1/ 44 6 11 6 8 18 4 3 5 7 15 Other 683 1 1/637 3 — 11 2 5 * 1 2 2 19 Total deposits 27,896 1,019 7,735 1,192 1,651 1,402 1,738 3,925 960 638 1,151 1,596 4,889 Deferred availability cash items 11,452 696 1,681 709 859 876 1,250 1,836 554 430 869 694 998 Other liabilities and accrued dividends LLQ_ 26 132- 22. 39 17_ 25. 81 L2_ 11_ L8_ ?•*_ 7? TOTAL LIABILITIES 90,798 4,612 21,702 4,878 6,684 6,873 5,514 14,775 3,492 1,961 3,924 4,271 12,112 CAPITAL ACCOUNTS Capital paid in 721 33 188 37 66 37 49 108 24 16 31 40 92 Surplus 702 1 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 262 12 67 13 21 19 13 43 10 5 10 12 U__ TOTAL LIABILITIES AND CAPITAL ACCOUNTS 92,483 4,690 22,142 4,964^ 6,834 6,965 5,623 15.031 3.550 1.998 3.995 4.362 _12,329 Contingent liability on ace: eptances purchased for forei- gn correspondents 1 ai5_1 U 21 62 12_ ZL- L2_ L6_ 25_ 8_ 5_ LQ_ L3__ JO FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,037 12,891 3,045 4,298 4,706 2,741 9,235 2,054 908 1,974 2,109 6,448 Collateral for F. R. notes: Gold certificate account 250 500 300 510 530 1,000 155 5 Eligible paper U. S. Government securities 2,840 12,600 2,900 3.900 4.250 2.900 8.450 1.980 930 2.025 2.180 7.000 Total collateral 3,090 13,100 3,200 4,410 4,780 2,900 9,450 2,135 930 2,025 2,185 7,000 1/ After deducting $ 89 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 173 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis