H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and '"*$£&&• Condition Statement of F.R. Banks H.4.1 For immediate release May 13, 1971 The average of daily figures of total reserves of member banks declined $694 million in the latest statement week to $30,104 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined. A seasonal increase in currency in circulation, a rise in Treasury deposits with Federal Reserve Banks and declines in both float and gold stock were the major factors absorbing reserves in the latest week. An increase in Other Federal Reserve assets was the only factor supplying a significant amount of reserves. In addition, System Open Market operations supplied $276 million in reserves net, on a weekly average basis. Member bank borrowings averaged $98 million and were $144 million less than excess reserves, compared to $202 million less for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 12, May 5, I May 13, May 12, and related items 1971 1971 1970 1971 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright--System account 63,981 + 173 +6,670 1/ 63,921 Held under repurchase agreements 478 + 99 + 478 264 Federal Agency obligations- Held under repurchase agreements 45 45 Acceptances Bought outright 59 + 4 + 5 58 Held under repurchase agreements 38 + 6 + 38 Discounts and advances-- Member bank borrowings 98 77 - 712 25 Other — -_ 90 Float 2,561 - 200 - 371 2,252 Other F. R. assets 1,297 + 111 - 801 1,324 Total Reserve Bank credit 68,557 + 110 +5,262 67,844 Gold stock 10,561 - 171 - 806 10,332 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,345 + 19 + 386 7,350 86,862 - 43 +4,840 85,926 Currency in circulation 57,164 + 449 +3,596 57,382 Treasury cash holdings 507 - 12 - 38 500 Treasury deposits with F. R. Banks 1,314 + 279 - 412 1,112 Foreign deposits with F. R. Banks 167 + 13 80 161 Other deposits with F, R. Banks 689 - 25 - 197 687 Other F. R. liabilities and capital 2,299 + 37 + 44 2,149 62,139 + 741 +2,912 61,991 Member bank reserves: With Federal Reserve Banks 24,723 - 783 +1,929 23,935 Currency and coin 5,381 + 89 + 430 5,381 Total reserves held 30,104 - 694 +2,359 29,316 Required reserves 29,862 - 559 +2,145 29,862 Excess reserves 242 - 135 + 214 - 546 NOTE: A net of $187 million of surplus reserves were eligible to be carried forward from the week ended May 5, into the week ending May 12. On May 12, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $18,514 million, an increase of $1,109 million for the week. J7 Includes $43 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 12, 1971 May 5, 1971 May 13,197 A S S E TS Gold certificate account 10,075 400 Special Drawing Rights certif. accts. 400 Cash. ( 865) 264 3 Discounts and advances 25 777 Acceptances: Bought outright 58 Held under repurchase agreements 81 Federal Agency obligations-- Held under repurchase agreements 137 U S. Government securities : Bought outright-- Bills 26,521 122 Certificates Notes 34,180 3onds 3,220 + 405 Total bought outright 1/ 63,921 - 122 + 6,736 Held under repurchase agreements 264 872 + 264 Total U. S. Government securities 52KT83 - §94 + 7,060 Total loans and securities 64,268 1,989 + 6,179 Cash items in process of collection (2,747) 10,474 436 + 127 Bank premises 139 + 3 + 21 Other assets £_/ l 185 + 105 - 805 s TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,612) 86^805 - 2,714 + 4,619 L I A B I L I T I ES Federal Reserve notes ( 865) 50,539 + 339 + 3,356 Deposits: Member bank reserves 23,935 - 3,624 + 1,411 U. S. Treasurer—general account 1,112 + 619 - 579 Foreign 161 + 13 - 71 Other 3/ 687 + 2 - 268 Total deposits 25,895 - 2,990 + 493 Deferred availability cash items (2,747) 8,222 + 101 + 693 Other liabilities and accrued dividends 532 - 38 - 52 TOTAL LIABILITIES (3,612) 85,188 ~ -2T5S8" T~" 4,490 C A P I T AL A C C O U N TS Capital paid in 722 + 1 + 40 Surplus 702 — + 33 Other capital accounts 193 127 + 56 Contingent liability on acceptances purchased for foreign correspondents 244 + 7 + 3€ * Figures in parenthese are the eliminations made in the consolidating process. 1/ Includes $43 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 12, 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 Holdin£ S Weekly changes Within 15 days 24 12 5,693 - 1,019 16 days to 90 days 1 46 12,153 + 56 91 days to 1 year -- -- 15,581 168 Over 1 year to 5 year•ss -- 23,736 — Over 5 years to 10 yejaarrss --- — 6,142 — Over 10 years -- ... 880 -- Total 25 58 64,185 - 1,131 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 12, 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 10,075 571 1,955 719 915 834 534 2,433 449 144 416 271 784 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 865 108 230 36 38 57 250 22 15 10 27 18 54 Other cash 264 11 24 10 28 25 34 33 15 6 26 18 34 Discounts and advances 25 — 4 * 2 — * 17 -- * 2 — -- Acceptances: Bought outright 58 -- 58 -- -- -- -- -- -- -- -- — — Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations— Held under repurchase agreements -- -- -- -- U. S. Government securities: Bought outright-- Bills 26,521 1,295 6,742 1,370 2,031 1,967 1,332 4,327 961 530 1,010 1,234 3,722 Certificates -- -_ ... --. -- --. _- -- -- -- -- -- ... Notes 34,180 1,670 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 J7 63,921 3,122 16,248 3,301 4,895 4,742 3,211 10,429~ T, 317 1,276 2,435 2,974 8,971 Held under repurchase agreements 264 -- 264 -- -- -- — -- — -- -- -- -- Total U. S. Government securities 64,185 3,122 16,512 3,301 4,895 4,742 3,211 10,429~ T, 317 1,276 2,435 2,974 8,971 Total loans and securities 64,268 3,122 16,574 3,301 4,897 4,742 3,211 10,446 2 ,317 1,276 2,437 2,974 8,971 Cash items in process of collection 13,221 741 2,158 742 941 1,034 1,335 2,138 706 500 894 847 1,185 Bank premises 139 2 8 3 16 13 17 17 13 15 18 9 8 Other assets 2/ 1,185 67 409 60 82 75 50 160 36 21 38 49 138 TOTAL ASSETS 90,417 4,645 21,451 4,894 6,950 6,866 5,453 15,319 3 ,566 1,979 3,871 4,200 11,223 1/ Includes $43 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 12, 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 51,404 2,890 12,241 2,987 4,164 4,567 2,529 9,000 1,981 893 1,913 1,985 6,254 Deposits: Member bank reserves 23,935 892 6,162 1,059 1,694 1,220 1,562 4,062 863 573 1,038 1,335 3,475 U. S. Treasurer—general account 1,112 79 110 114 71 98 84 96 61 32 88 82 197 Foreign 161 8 1/ 43 8 14 8 11 24 5 4 7 9 20 Other 687 * 2/ 631 4 — 11 1 4 1 2 2 3 28 Total deposits 25,895 979 6,946 1,185 1,779 1,337 1,658 4,186 930 611 1,135 1,429 3,720 Deferred availability cash items 10,969 678 1,659 616 825 840 1,137 1,813 584 429 738 676 974 Other liabilities and accrued dividends 532 27 133 27 42 39 27 86 19 11 20 25 76 TOTAL LIABILITIES 88,800 4,574 20,979 4,815 6,810 6,783 5,351 15,085 3,514 1,944 3,806 4,115 11,024 CAPITAL ACCOUNTS Capital paid in 722 33 188 37 66 38 49 108 24 17 30 40 92 Surplus 702 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 193 5 99 6 11 9 6 21 4 2 5 6 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 90.417 4.645 21.451 4.894 6.950 6.866 5.453 15.319 3.566 1.979 3.871 4.200 11.223 •"" Contingent liability on ac:ee ptances purchased for fore]L gn correspondents 244 12 3/ 64 12_ 22 12_ 16_ 3_Z_ 8_ 6_ ID- 1A 31 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,048 12,937 3,053 4,329 4,685 2,736 9,242 2,051 916 1,982 2,101 6,479 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 1.980 950 2.025 2.180 7.000 Total collateral 3,090 13,100 3,200 4,410 4,780 2,900 9,450 2,135 950 2,025 2,185 7,000 2/ After deducting $ 118 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 180 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis