H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and '••f*u5s^ Condition Statement of F.R. Banks H.4.1 For immediate release May 6, 1971 The average of daily figures of total reserves of member banks increased $602 million in the latest statement week to $30,798 million. Required reserves and excess reserves both increased while member bank borrowings at Federal Reserve Banks were about unchanged from the level of the previous week. A rise in the amount of currency in circulation and a more than seasonal decline in float were the major factors absorbing reserves in the latest statement week. Offsetting some of these reserve drains was a decline in the Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations supplied $773 million in reserves (net) on a weekly average basis through repurchase agreements and outright purchases of Treasury bills. Member bank borrowings averaged $175 million and were $202 million less than excess reserves. In the previous week borrowings exceeded excess reserves by $95 million. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 5, April 28, May 6, May 5, and related items 1971 1971 1970 1971 Reserve Bank credit: (IrL millions of: dollars) U.S. Government securities— Bought outright--System account 63,808 + 384 +6,894 1/ 64,043 Held under repurchase agreements 379 + 328 + 177 1,136 Federal Agency obligations-- Held under repurchase agreements 51 + 50 11 137 Acceptances Bought outright 55 + 2 2 58 Held under repurchase agreements 32 + 9 3 81 Discounts and advances-- Member bank borrowings 175 2 - 599 802 Other -- -- - 90 -- Float 2,761 - 503 - 319 2,749 Other F. R. assets 1,186 + 34 -1,042 1,216 Total Reserve Bank credit 68,447 + 303 +5,004 70,222 Gold stock 10,732 -- - 635 10,732 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,326 + 17 + 377 7,331 86,905 + 320 +4,747 88,685 Currency in circulation 56,715 + 105 +3,604 57,008 Treasury cash holdings 519 + 13 38 519 Treasury deposits with F. R. Banks 1,035 - 303 - 478 493 Foreign deposits with F. R. Banks 154 + 14 38 148 Other deposits with F. R. Banks 714 + 10 - 140 685 Other F. R. liabilities and capital 2,262 + 96 + 19 2,313 Member bank reserves: 61,398 - 65 +2,928 61,166 With Federal Reserve Banks 25,506 + 383 +1,818 27,519 Currency and coin 5,292 + 219 + 393 5,292 Total reserves held 30,798 + 602 +2,211 32,811 Required reserves 30,421 + 307 +2,184 30,421 Excess reserves 377 + 295 + 27 '2,390 NOTE: A net of $1 million of deficit reserves were eligible to be carried forward from the week ended April 28, into the week ending May 5. On May 5, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $17,405 million, an increase of $325 million for the week. If Includes $70 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 May 5, April 28, May 6, 1971 1971 . 1970 A S S E TS Gold certificate account 10,4 75 — 570 Special Drawing Rights certif. accts. 400 -- -- Cash ( 937) 261 + 8 + 65 Discounts and advances 802 + 86 + 270 Acceptances: Bought outright 58 + 5 Held under repurchase agreements 81 + 46 25 Federal Agency obligations-- Held under repurchase agreements 137 j. 129 5 U. S. Government securities : Bought outright-- Bills 26,643 384 4,041 Certificates Notes 34,180 — + 2,107 Bonds 3,220 — + 405 Total bought outright 1/ 64J043 + 384 + 6,553 Held under repurchase agreements 1,136 + 783 + 901 Total U. S. Government securities 65,179 ~ 1,16? +"~ 7,454 Total loans and securities 66,257 + 1,433 + 7,754 Cash items in process of collection (2,828) - 411 + 447 10,870 Bank premises — + 19 136 Other assets 2j + 19 - 893 1,080 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,765) 89,479 + 1,049 + 6,822 h I A £ It III £1 Federal Reserve notes ( 937) 50,200 293 3,262 Deposits: Member bank reserves 27,519 + 1,754 + 3,806 U. S. Treasurer—general account 493 - 908 - 830 Foreign 148 + 15 - 20 Other Jj/ ( 124) 685 + 2 - 184 Total deposits 28,845 T~ S6l~ ~ 2,772 Deferred availability cash items (2,704) 8,121 - 225 + 772 Other liabilities and accrued dividends 570 + —w6r0 - 30 TOTAL LIABILITIES (3,765) 87,736 +~" ~ 6,776 C A P I T AL A C C O U N TS Capital paid in 721 — ~ + 39 Surplus 702 — + 33 Other capital accounts 320 + 58 - 26 Contingent liability on acceptances purchased for foreign correspondents 237 + 2 + 27 * Figures in parenthese are the eliminations made in the consolidating process. 1/ Includes $70 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, MAY 5. 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 Acceptances Holdings Week!. y changes Within 15 days 800 95 6,712 + 2,163 16 days to 90 days 2 44 12,097 1,360 91 days to 1 year —- -- 15,749 + 493 Over 1 year to 5 year's8 — 23,736 -- Over 5 years to 10 ye a a r r s s — 6,142 -- Over 10 years -- — 880 -- Total 802 139 65,316 + 1,296 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 MAY 5, 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 10,475 580 1,976 586 752 948 522 2,042 382 166 421 412 1,688 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks t 937 | 111 237 35 50 61 274 23 16 12 30 20 68 Other cash \ 261 11 25 9 28 23 34 33 15 6 26 17 34 Discounts and advances 802 122 373 2 131 14 51 84 4 1 3 * 17 Acceptances: Bought outright 58 58 -- -- — -- -- -- -- — -- -i Held under repurchase agreements ' 81 -- 81 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Held under repurchase agreements 137 __ 137 -- — -- -- — -- U. S. Government securities: Bought outright— Bills 26,643 1,301 6,773 1,376 2,040 1,976 1,338 4,347 966 532 1,015 1,240 3,739 Certificates -- -- -- -- -- -- -- -- -- -- • -- -- -- Notes 34,180 !l,670 8,688 1,765 2,617 2,536 1,717 5,577 1,239 682 1,302 1,590 4,797 Bonds 3.220 157 818 166 247 239 162 525 117 64 123 150 '452 Total bought outright ]J 64,043 3,128 !L 6,279 3,307 4,904 4,751 3,217 10,449 2,322 1,278 2,440 2,980 8,988 Held under repurchase agreements 1,136 -- 1,136 -- -- -- -- -- -- -- -- __ — Total U. S. Government securities 65,179 3,128 :L 7,415 3,307 4,904 4,751 3,217 10,449 2,322 1,278 2,440 2,980 8,988 Total loans and securities 66,257 3,250 ]L 8,064 3,309 5,035 4,765 3,268 10,533 2,326 1,279 2,443 2,980 9,005 Cash items in process of collection 13,698 779 2,504 734 981 998 1,277 2,214 718 493 877 834 1,289 Bank premises 136 2 8 3 16 11 17 17 13 14 18 9 8 Other assets 2/ 1,080 59 383 58 68 74 45 142 32 19 34 41 125 TOTAL ASSETS 93,244 4,815 23,290 4,757 6,963 6,916 5,459 15,074 3,517 1,996 3,864 4,327 12,266 1/ Includes $70 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 MAY 5, 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) Federal Reserve notes 51,137 2,873 12,210 2,958 4,142 4,571 2,520 8,951 1,969 886 1,902 1,966 6,189 Deposits: Member bank reserves 27,519 1,102 7,870 1,046 1,783 1,314 1,694 3,882 869 620 1,104 1,591 4,644 U. S. Treasurer—general account 493 8 51 43 12 76 41 70 28 10 42 21 91 Foreign 148 6 1/ 49 7 12 7 9 20 5 3 6 7 17 Other 809 l :1 1 756 2 12 2 6 1 3 2 3 21 Total deposits 28,969 1,117 8,726 1,098 1,807 1,409 1,746 3,978 903 636 1,154 1,622 4,773 Deferred availability cash items 10,825 717 1,740 585 818 800 1,054 1,783 567 424 716 620 1,001 Other liabilities and accril ed dividends 570 27 158 26 42 40 28 96 19 12 19 25 78 TOTAL LIABILITIES 91,501 4,734 22,834 4,667 6,809 6,820 5,348 14,808 3,458 1,958 3,791 4,233 12,041 CAPITAL ACCOUNTS Capital paid in 721 33 188 37 66 37 49 108 24 16 31 40 92 Surplus 702 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 320 15 8T 17 2S 21 is 1' is 45 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 93,244 4.815 23.290 4.757 6.963 6.916 5.459 15.074 3,517 1,996 3,864 4,327 12,266 Contingent liability on ace: eptances purchased for forei gn correspondents 237 11 3/ 62 12 21 12 16 36 8 .6 10 13 30 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,029 12,907 3,041 4,293 4,703 2,741 9,205 2,048 919 1,980 2,096 6,434 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 1,980 230 2 02S ?,iftn 7.000 r f 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 $ 99 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit, * Less than $500,000. 3/ After deducting $175 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis