H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and '•"f«*n&?y Condition Statement of F.R. Banks H.4.1 For immediate release June 3, 1971 The average of daily figures of total reserves of member banks increased $37 million to $30,285 million in the latest statement week. Required reserves declined while excess reserves and member bank borrowings both increased. A decline in Treasury deposits with Federal Reserve Banks was the major factor supplying reserves in the latest statement week. A rise in currency in circulation drained $313 million of reserves on average. Adding to this reserve absorption was a decline in float. In addition, System Open Market operations absorbed $74 million of reserves net, on a weekly average basis. Member bank borrowings averaged $645 million and exceeded excess reserves by $354 million compared with $94 million for the previous week. Averap' es of: daily figures Member bank reserves, Week ended Chang; e from week ended Wednesday, Reserve Bank credit, June 2, May 26, 1 June 3, June 2, and related items 1971 * 1971 1 1970 1971 * Reserve Bank credit: (Int millionso f dollars) U.S. Government securities— Bought outright—System account 64,777 + 13 +7,482 1/64,809 Held under repurchase agreements 73 - 70 + 2 102 Federal Agency obligations- Held under repurchase agreements 27 8 5 48 Acceptances Bought outright 63 + 2 + 20' 62 Held under repurchase agreements 37 - 11 + 30 9 Discounts and advances-- Member bank borrowings 645 + 376 - 579 37 Other — — - 90 -- Float 2,479 - 300 - 306 2,544 Other F. R. assets 923 + 72 - 269 957 Total Reserve Bank credit 69,024 + 75 +6,295 68,568 Gold stock 10,332 — -1,035 10,332 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 7,390 + 18 + 409 7,396 87,146 + 92 +5,669 86,696 Currency in circulation 57,478 + 313 +3,704 57,787 Treasury cash holdings 506 + 4 18 507 Treasury deposits with F. R. Banks 890 - 155 - 340 869 Foreign deposits with F. R. Banks 187 — + 53 140 Other deposits with F. R. Banks 703 + 26 - 98 751 Other F. R. liabilities and capital 2,304 + 79 + 12 2,322 62,067 + 267 +3,312 62,376 Member bank reserves: With Federal Reserve Banks 25,078 - 176 +2,357 24,320 Currency and coin 5,207 + 213 + 315 5,207 Total reserves held 30,285 + 37 +2,672 29,527 Required reserves 29,994 - 79 +2,576 29,994 Excess reserves 291 + 116 + 96 - 467 NOTE: A net of $103 million of surplus reserves were eligible to be carried forward from the week ended May 26, into the week ending June 2. On June 2, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $19,661 million, an increase of $130 million for the week. V Includes $71 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. * Estimated (Cleveland District), 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 June 2, May 26. June 3, 1971 ** 197i 1970 A S S E TS Gold certificate account 10, 075 -- - 970 Special Drawing Rights certif. accts. * 400 -- -- Cash (815) 270 - 6 + 69 Discounts and advances 37 - 1 ,237 - 1,298 Acceptances: Bought outright 62 -«. + 20 Held under repurchase agreements 9 31 14 Federal Agency obligations— Held under repurchase agreements 48 37 U. S. Government securities : Bought outright— Bills 27,282 45 5,034 Certificates Notes 34,307 — + 2,074 Bonds 3,220 — + 357 Total bought outright 1/ 64,809 + 45 + 7,465 Held under repurchase agreements 102 - 66 - 167 Total U. S. Government securities 64,911 - 21 + 7,298 Total loans and securities 65,067 1,280 + 5,969 Cash items in process of collection (3,006) 10'900 + 979 + 1^152 Bank premises 139 -- + 22 Other assets 2y 818 + 86 280 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (3,821) 87,669 221 5,962 L1 A 1It 11I £I Federal Reserve notes (815) 50,911 + 394 + 3,515 Deposits: Member bank reserves 24,320 _ 1,657 + 1,509 U. S. Treasurer--general account 869 - 18 - 384 Foreign 140 16 + 9 Other \J 751 + 80 64 Total deposits 26,080 1,611 + 1,070 Deferred availability cash items (3,006) 8,356 + 915 + 1,390 Other liabilities and accrued dividends 562 + 20 76 TOTAL LIABILITIES (3,821) 85,909 - 187 ~ 5,899 C A P I T AL A C C O U N TS Capital paid in 724 + 1 + 40 Surplus 702 + 33 Other capital accounts 334 + 60 10 Contingent liability on acceptances purchased for foreign correspondents 250 + 8 + 19 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Includes $71 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. 2/ Includes IMF gold deposit. ** Estimated (Cleveland District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, June 2^1971 (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 advanceI B Acceptances Holdings Weekly changes Within 15 days 34 23 3,080 824 16 days to 90 days 3 48 13,461 + 725 91 days to 1 year — -- 17,997 + 87 Over 1 year to 5 year•ss — 23,645 -- Over 5 years to 10 yeaarrss -- 5,896 -- Over 10 years -- — 880 — Total 37 71 64,959 12 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 JUNE 2, 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 1 736 2,120 428 867 861 480 1,968 436 126 310 366 1,377 Special Drawing Rights certlf. acct. 400 ! 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 815 98 198 38 47 54 228 24 14 12 27 20 55 Other cash 270 11 22 9 28 30 35 34 15 8 26 18 34 Discounts and advances | 13 * __ 9 * 6 5 1 1 2 __ __ ! 37 Acceptances: Bought outright | 62 | 62 — -- -- __ — -- — -- — — Held under repurchase agreements ! 9 -- 9 — -- — -- .. -- -- — -- — Federal Agency obligations— Held under repurchase agreements 48 48 — — — — U. S. Government securities: Bought outright— Bills 27,282 1,332 6,905 1,440 2,089 2,009 1,356 4,501 1,014 529 1,056 1,241 3,810 Certificates -- -- -- -- -- -- -- — — — -- — -- Notes 34,307 1,675 8,683 1,811 2,626 2,526 1,706 5,659 1,275 665 1,329 1,561 4,791 Bonds 3,220 157 815 170 246 237 160 531 120 63 125 146 450 Total bought outright 1/ 64,809 3,164 16,403 3,421 4,961 4,772 3,222 10,691 2,409 1,257 2,510 2,948 9,051 Held under repurchase agreements 102 ' — 102 — -- -- -- — — -- — — -- Total U. S. Government securities 64,911 3,164 16,505 3,421 4,961 4,772 3,222 10,691 2,409 1,257 2,510 2,948 9,051 Total loans and securities 65,067 3,177 16,624 3,421 4,970 4,772 3,228 10,696 2,410 1,258 2,512 2,948 9,051 Cash items in process of collection 13,906 792 2,518 773 785 1,271 1,353 2,307 743 507 848 725 1,284 Bank premises 139 2 8 3 16 13 17 17 13 15 18 9 8 Other assets 2/ j 818 42 334 39 45 43 58 97 21 11 23 27 78 TOTAL ASSETS 91,490 j 4,881 ,2 1,917 4,734 6,791 7,080 5,421 15,213 3,667 1,944 3,779 4,127 ]1 1,936 J./ Includes $71 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. * Estimated. 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 JUNE 2, 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 51,726 2,889 12,369 3,013 .4,167 4,587 2,529 9,059 1,992 897 1,935 1,998 6,291 Deposits: Member bank reserves 24,320 1,023 6,124 931 1,649 1,250 1,524 3,755 910 539 1,019 1,445 4,151 U. S. Treasurer—general account 869 49 169 26 69 24 88 157 71 29 43 83 61 Foreign 140 6 1/ 37 7 13 7 9 21 5 3 6 8 18 Other 751 1 2/698 2 11 2 4 5 2 2_ 4_ _2Q_ Total deposits 26,080 1,079 7,028 966 1,731 1,292 1,623 3,937 991 573 1,070 1,540 4,250 Deferred availability cash items 11,362 804 1,923 637 699 1,064 1,101 1,860 605 425 681 471 1,092 Other liabilities and accril ed dividends 562 28 145 29 43 41 27 93 21 11 21 25 78 TOTAL LIABILITIES 89,730 4,800 21,465 4,645 6,640 6,984 5,280 14,949 3,609 1,906 3,707 4,034 11,711 CAPITAL ACCOUNTS Capital paid in 724 34 188 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 334 14 79 16 22 22 45 51 10 5 11 14 4S TOTAL LIABILITIES AND CAPITAL ACCOUNTS 91,490 4,881 21,917 4,734 6.791 7.080 5.421 15.213 3,667 1.944 3,779 4.127 11.936 Contingent liability on ace: eptances purchased for forei- gn correspondents 250 12 3/ 66 13 22 13 17 38 8 6 10 14 31 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,038 13,010 3,098 4,321 4,696 2,726 9,302 2,069 928 2,015 2,133 6,526 Collateral for F. R. notes: Gold certificate account 250 500 300 510 530 — 1,000 155 U. S. Government securities 2,840 12,800 2,900 3,900 4,250 2,900 8,450 1,980 950 2.075 2.180 7,000 Total collateral 3,090 13,300 3,200 4,410 4,780 2,900 9,450 2,135 950 2,075 2,185 7,000 \J After deducting $ 103 million participations of other Federal Reserve Bahks. 2/ Includes IMF gold deposit, 3/ After deducting $ 184 million participations of other Federal Reserve Banks. * Estimated. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis