H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.•;o°^S!&,: FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For Immediate release June 17, 1971 The average of daily figures of total reserves of member banks increased $300 million in the latest statement week to $30,207 million. Required reserves, excess reserves and member bank borrowings all increased. The major factors supplying reserves in the latest week were declines in Other Federal Reserve liabilities and Treasury deposits with Federal Reserve Banks. Reserves were drained by a decline in float and an increase in currency in cir culation. The Treasury continued to maintain its accounts at the Federal Reserve at a very low level, on weekly average, and during the week found it necessary to borrow from the Federal Reserve through the issuance of special certificates. These transactions were more than offset by System Open Market Operations, on a weekly average basis. Member bank borrowings averaged $403 million and exceeded excess reserves by $165 million compared with $69 million for the previous week. Averages of da ily figures Member bank reserves, Week ended Change from wee k ended Wednesday Reserve Bank credit, June 16, June 9, June' • 17, June 16, and related items 1971 1971 1970 1 1971 (In millions of dollars) Reserve Bank credit: U.S. Government securities- Bought outright--System account 63,875 463 + 5,898 63,644 Held under repurchase agreements Special Certificates 510 + 416 + 510 349 Federal Agency obligations — Held under repurchase agreements Acceptances— Bought outright 63 1 25 62 Held under repurchase agreements Discounts and advances- Member bank borrowings 403 L 249 255 261 Other -- — - 90 1 Float 2,620 - 161 - 330 1 2,666 Other F.R. assets 959 + 48 - 412 984 Total Reserve Bank credit 68,430 + 88 + 5,346 67,966 Gold Stock 10,332 — - 1,035 10,332 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 7,417 + 13 + 421 7,426 86,579 + 101 + 4,732 86,124 Currency in circulation 58,078 + 227 + 3,817 58,183 Treasury cash holdings 494 — - 5 501 Treasury deposits with F.R. Banks 9 - 385 - 1,001 7 Foreign deposits with F.R. Banks 150 - 1 - 7 179 Other deposits with F.R. Banks 695 — - 140 704 Other F.R. liabilities and capital 2,148 - 180 - 32 ! 2,125 61,574 - 339 + 2,632 61,699 Member bank reserves: With Federal Reserve Banks 25,005 + 439 + 2,100 1 24,425 Currency and coin 5,202 - 139 + 404 5,202 Total reserves held 30,207 + 300 + 2,504 29,627 Required reserves 29,969 + 147 + 2,539 29,969 Excess reserves 238 + 153 - 35 - 342 NOTE: A net of $39 million of surplus reserves were eligible to be carried forward from the week ended June 9, into the week ending June 16. On June 16, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international account s were $20,154 million, an increase of $111 million for the week. 1/ Excludes $270 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ 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 doll ars) Wednesday Change since June 16, June 9, June 17, 1971 1971 1970 A S S E TS 10,075 _ — - 970 Gold certificate account Special Drawing Rights certif. accttss. 400 -- — (773) 274 + 2 + 66 Cash 261 - 329 - 198 Discounts and advances Acceptances: 62 24 Bought outright Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U, S. Government securities Bought outright— Bills 26,117 - 387 +3,601 Certificates - Special 349 - 233 + 349 - Other Notes 34,307 +1,887 Bonds 3,220 + 333 1/ 2/ 63,993 620 +6,170 Total bought outright Held under repurchase agreements Total U. S. Government securities 63,993 - 620 +6,170 Total loans and securities 64,316 - 949 +5,996 Cash items in process of collection (3,460) 12,131 +2,186 - 155 143 + 2 + 24 Bank premises Other assets 3/ 841 + 27 - 454 (4,233) 88,180 +1,268 +4,507 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS L I A B I L I T I ES (773) 51,275 55 +3,546 Federal Reserve notes Deposits: 24,425 455 +1,383 Member bank reserves 7 -1,085 U. S. Treasurer—general account 179 - 15 18 Foreign 704 + ,36 - 112 Other 4_/ 25,315 - 434 + 168 Total deposits (3,460) 9,465 1-1, 867 + 820 Deferred availability cash items 537 - 13 - 82 Other liabilities and accrued dividends (4,233) 86,592 1-1,475 +4,452 TOTAL LIABILITIES C A P I T AL A C C O U N TS 724 40 Capital paid in 702 33 Surplus 162 206 18 Other capital accounts Contingent liability on acceptances purchased 240 12 for foreign correspondents * Figures in parentheses are the eliminations made in the consolidating process. 1_/ Excludes $270 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $70 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. V Includes assets denominated in foreign currencies and IMF gold deposited. 4/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JUNE 16. 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 260 11 3,449 + 49 16 days to 90 days 1 51 12,431 -561 91 days to 1 year 17,692 -108 Over 1 year to 5 years 23,645 Over 5 years to 10 years 5,896 Over 10 years 880 Total 261 62 63,993 •620 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 16, 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 10,075 691 1,455 570 628 905 556 2,345 329 230 308 333 1,725 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks | 773 87 209 36 39 56 174 23 16 11 29 19 74 Other cash 274 11 23 9 27 34 36 30 17 7 27 18 35 Discounts and advances 261 21 26 -- 6 38 38 54 1 1 11 17 48 Acceptances: Bought outright 62 __ 62 — — -- -- -- -- -- — — -- Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements — -- — — — — -- — -- -- U. S. Government securities: Bought outright— Bills 26,117 1,275 6,611 1,378 2,000 1,923 1,298 4,309 971 506 1,011 1,188 3,647 Certificates— Special 349 — 349 -- — -- -- — -- -- -- — -- Other 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 ~"r Total bought outright J./2/ 63,993 3,107 16,458 3,359 4,872 4,686 3,164 10,499 2,366 ,234 2,465 2,895 8,888 Held under repurchase agreements — — -- — — -- -- -- -- — -- -- — Total U.S. Government securities 63,993 3,107 16,458 3,359 4,872 4,686 3,164 10,499 2,366 ~T, 234 2,465 2,895 8,888 Total loans and securities 64,316: 3,128 16,546 3,359 4,878 4,724 3,202 10,553 2,367 i ,235 2,476 2,912 8,936 Cash items in process of collection 15,591 875 2,558 817 1,237 1,247 1,523 2,641 842 580 953 970 1,348 Bank premises ! 143 2 8 3 18 13 17 17 14 16 18 9 8 Other assets 3/ 841 j 48 319 43 53 49 33 105 24 14 25 36 92 TOTAL ASSETS j 92,413 4,865 21,211 4,860 6,913 7,064 5,563 15,784 3,624 2 ,100 3,851 4,311 12,267 JV Excludes $270 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2,/ Includes $70 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. _3/ Includes assets denominated in foreign currencies and IMF gold deposited. 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 16, 1971 i ' ' " 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 52,048 2,902 12,376 3,030 4,213 4,604 2,542 9,140 2,005 905 1,953 2,032 6,346 Deposits: Member bank reserves 24,425 1,060 5,582 1,031 1,459 1,273 1,573 4,048 856 640 1,016 1,413 4,474 U. S. Treasurer—general account 7 1 * * * 1 1 * 1 * 1 1 1 Foreign 179 7 1/ 72 7 13 7 10 22 5 4 6 8 18 Other 704 2 2/ 646 2 1 7 2 6 3 3 3 6 23 Total deposits 25,315 1,070 6,300 1,040 1,473 1,288 1,586 4,076 865 647 1,026 1,428 4,516 Deferred availability cash items 12,925 792 1,986 681 1,041 1,047 1,304 2,241 681 502 784 741 1,125 Other liabilities and accnt ed dividends 537 27 137 27 42 39 27 87 20 11 21 24 75 TOTAL LIABILITIES 90,825 1 4,791 20,799 4,778 6,769 6,978 5,459 15,544 3,571 2,065 3,784 4,225 12,062 CAPITAL ACCOUNTS Capital paid in 724 34 188 38 66 38 49 108 24 16 31 40 92 Surplus 702 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 162 7 39 8 15 12 8 27 5 3 6 7 25 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 92,413 4,865 21,211 4,860 6,913 7,064 5,563 15,784 3,624 2,100 3,851 4,311 12,267 Contingent liability on ace: eptances purchased for forei gn correspondents 240 11 3/ 63 12 22 11_ 16_ 26_ 8_ 6_ LD_ L4_ 3JL FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,044 13,070 3,105 4,370 4,726 2,725 9,364 2,077 930 2,022 2,161 6,631 Collateral for F. R. notes: Gold certificate account 250 500 300 510 530 1,000 155 5 U. S. Government securities 2,840 12,800 3,000 3,900 4,250 2,900 8,750 1.980 950 2.075 2.230 7.000 Total collateral 3,090 13,300 3,300 4,410 4,780 2,900 9,750 2,135 950 2,075 2,235 7,000 \j After deducting $ 107 million participations of other Federal Reserve Bahks. Digitized for FRA1S)E R Includes IMF gold deposit. * Less than $500,000. http://fraser.stloui3sf/e d.orAgf/ ter deducting $ 177 million participations of other Federal Reserve Banks. Federal Reserve Bank of St. Louis