H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and '•f^URE** Condition Statement of F.R. Banks H.4.1 For immediate release May 27, 1971 The average of daily figures of total reserves of member banks declined $137 million in the latest statement week to $30,248 million. Excess reserves increased while required reserves and member bank borrowings at Federal Reserve Banks both declined. A decline in Other Federal Reserve assets and a seasonal decline in float were the major factors draining reserves in the latest week. These reserve drains were partially offset by reductions both in the Treasury deposits with Federal Reserve Banks and currency in circulation. In addition, System Open Market operations supplied $154 million in reserves, net, on a weekly average basis. Member bank borrowings averaged $269 million and exceeded excess reserves by $94 million compared with $193 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 26, May 19, May 27, May 26, and related items 1971 1971 1970 1971 Reserve Bank credit: (In millions of dollars) U.S. Government securities-- Bought outright—System account 64,764 + 312 +7 ,724 1/ 64,764 Held under repurchase agreements 143 - 168 + 143 168 Federal Agency obligations— Held under repurchase agreements 35 6 35 39 Acceptances Bought outright 61 + 1 + 11 62 Held under repurchase agreements 48 + 15 + 48 40 Discounts and advances— Member bank borrowings 269 39 _ 664 1,274 Other -- -- - 90 -- Float 2,779 - 187 - 66 2,452 Other F. R. assets 851 - 258 - 443 871 Total Reserve Bank credit 68,949 - 331 4-6, 697 69,670 Gold stock 10,332 -- -1 ,035 10,332 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,372 + 18 + 398 7,381 87,054 - 313 +6 ,062 87,783 Currency in circulation 57,165 - 101 +3 ,648 57,373 Treasury cash holdings 502 + 3 - 36 505 Treasury deposits with F. R. Banks 1,045 - 203 - 220 887 Foreign deposits with F. R. Banks 187 + 25 + 68 156 Other deposits with F. R. Banks 677 - 20 - 127 671 Other F. R. liabilities and capital 2,225 + 77 + 26 2 241 ? 61,800 - 219 +3 ,359 61,833 Member bank reserves: With Federal Reserve Banks 25,254 - 94 +2 ,702 25,949 Currency and coin 4,994 - 43 + 215 4 994 ? Total reserves held 30,248 - 137 +2 ,917 30,943 Required reserves 30,073 - 197 +2 ,786 30,073 Excess reserves 175 + 60 + 131 870 NOTE: A net of $65 million of surplus reserves were eligible to be carried forward from the week ended May 19, into the week ending May 26. On May 26, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $19,531 million, an increase of $626 million for the week. 1/ Includes $61 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 Changei since May 26, May 19, May 27, 1971 1971 1970 A S S E TS Gold certificate account 10,075 „— - 970 Special Drawing Rights certif. acctss. 400 — — Cash * 276 + 6 + 71 Discounts and advances (908) 1,274 4- 289 + 295 Acceptances: Bought outright 62 4- 3 + 16 Held under repurchase agreements 40 - 49 + 40 Federal Agency obligations— Held under repurchase agreements 39 58 39 U. S. Government securities : Bought outright— Bills 27,237 + 226 +5,123 Certificates Notes 34,307 + 8 +2,142 Bonds 3,220 + 384 Total bought outright 1/ 64,764 + 234 +7,649 Held under repurchase agreements 168 - 353 + 168 Total U. S. Government securities 64,932 - 119 +7,817 Total loans and securities 66,347 + 66 +8,207 Cash items in process of collection (2,891) 9,893 -1,319 + 661 Bank premises 139 1 + 21 Other assets 2/ 732 + 46 - 329 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,799) 87,862 -1,202 +7,661 Federal Reserve notes (908) 50,517 + 51 +3,341 Deposits: Member bank reserves 25,949 + 71 +4,146 U. S. Treasurer—general account 887 - 337 - 418 Foreign 156 39 + 47 Other 3/ 671 + 25 - 142 Total deposits 27,663 - 280 +3,633 Deferred availability cash items ,891) 7,441 -1,017 + 673 Other liabilities and accrued dividends 542 17 58 TOTAL LIABILITIES ,799) 86,163 -1,263 +7,589 £ £ P I 2 AL A C C O U N TS Capital paid in 723 __ + 39 Surplus 702 — + 33 Other capital accounts 274 - 61 -- Contingent liability on acceptances purchased for foreign correspondents 242 - 1 10 * Figures in parentheses are the eliminations made int he consoldating process 1/ Includes $61 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 26, 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 Weekly^ changes Within 15 days 1,273 54 3,904 - 605 16 days to 90 days 1 48 12,736 + 403 91 days to 1 year — 17,910 + 17 Over 1 year to 5 year•3s — 23,645 + 4 Over 5 years to 10 ye>aarrss — 5,896 + 4 Over 10 years ^_- — 880 — Total 1,274 102 64,971 177 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 26, 1971 •t 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 10,075 443 2,052 603 813 872 397 2,012 392 66 436 330 1,659 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 908 103 233 41 42 60 253 24 17 11 26 24 74 Other cash 276 12 25 9 27 29 36 34 16 7 26 18 37 Discounts and advances 1,274 75 751 __ 2 57 65 210 2 JL. 3 __ 109 Acceptances: Bought outright ! 62 — 62 . — __ -- -- — -- „ -- -- -- Held under repurchase agreements ! 40 — 40 -- -- -- -- -- -- "- -. -- Federal Agency obligations— Held under repurchase agreements 39 39 U. S. Government securities: Bought outright— Bills 27,237 1,331 6,924 1,406 2,086 2,021 1,368 4,444 987 544 1,037 1,267 3,822 Certificates -- "" — — -- -- -- -- -- -_ -- -- -- Notes 34,307 1,676 8,720 1,772 2,627 2,545 1,723 5,597 1,244 685 1,307 1,596 4,815 Bonds 3,220 157 818 166 247 239 162 525 117 64 123 150 452 Total bought outright V 64,764 3,164 16,462 3,344 4,960 4,805 3,253 10,566 2,348 1,293 2,467 3,013 9,089 Held under repurchase agreements 168" -- 168 -- -- -- -- — -- -- -- -- -- Total 0. S. Government securities 64,932 3,164 16,630 3,344 4,960 4,805 3,253 10,566 2,348 1,293 2,467 3,013 9,089 Total loans and securities 66,347 3,239 17,522 3,344 4,962 4,862 3,318 10,776 2,350 1,293 2,470 3,013 9,198 Cash items in process of collection 12,784 742 2,049 678 946 961 1,344 2,160 663 497 866 806 1,072 Bank premises 139 2 8 3 16 13 17 17 13 15 18 9 8 Other assets 2/ 732 41 285 35 43 39 56 83 19 12 20 26 73 TOTAL ASSETS j 91,661 4,605 22,267 4,736 6,882 6,872 5,443 15,176 3,485 1,908 3,877 4,240 L2,170 1/ Includes $61 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 26, 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 51,425 2,878 12,266 2,997 4,164 4,570 2,523 9,014 1,978 893 1,918 1,986 6,238 Deposits: Member bank reserves 25,949 881 7,127 1,010 1,667 1,277 1,604 3,953 851 515 1,081 1,458 4,525 U. S. Treasurer—general account 887 68 135 64 41 105 54 64 39 35 76 44 162 Foreign 156 7 1/ 42 8 14 8 10 23 5 4 6 9 20 Other 671 1 11 624 3 1 8 1 4 1 1 3 4 20 Total deposits 27,663 957 7,928 1,085 1,723 1,398 1,669 4,044 896 555 1,166 1,515 4,727 Deferred availability cash items 10,332 666 •1,501 541 803 774 1,086 1,777 535 412 703 624 910 Other liabilities and accrued dividends 542 27 137 27 43 39 28 87 20 11 20 25 78 TOTAL LIABILITIES 89,962 4,528 21,832 4,650 6,733 6,781 5,306 14,922 3,429 1,871 3,807 4,150 11,953 CAPITAL ACCOUNTS Capital paid in 723 33 188 37 66 38 49 108 24 17 31 40 92 Surplus 702 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 274 11 62 13 20 17 41 41 8 4 9 11 37 TOTAL LIABILITIES AND 91,661 4,605 22,267 4,736 6,882 6,872 5,443 15,176 3,485 1,908 3,877 4,240 12,170 CAPITAL ACCOUNTS 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 3,025 12,982 3,097 4,324 4,696 2,726 9,282 2,071 922 2,001 2,131 6,470 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 4.250 2.900 8.450 1.98Q 25J2 2 07S 2,isn 7,nnn r Total collateral 3,090 13,100 3,200 4,410 4,780 2,900 9,450 2,135 950 2,075 2,185 7,000 1/ After deducting $114 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $178 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis