H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and ••f^LRt^ Condition Statement of F.R. Banks H.4.1 For immediate release July 1, 1971 The average of daily figures for total reserves of member banks increased $389 million in the latest week to $30,342 million. Required reserves, excess reserves, and member bank borrowings at Federal Reserve Banks all increased. The major factors absorbing reserves in the latest statement week were a seasonal decline in float and an increase in Treasury deposits with Federal Reserve Banks. These reserve drains were offset by System Open Market operations which supplied $1,025 million in reserves, on a weekly average basis, through outright purchases of Treasury bills and coupon issues. Member bank borrowings averaged $752 million and exceeded excess reserves by $466 million compared to $360 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 30,* June 23, July 1, June 30,* and related items 1971 1971 1970 1971 Reserve Bank credit: (Iri millions of: dollars) U.S. Government securities— Bought outright—System account 65,295 +1, 178 +7,551 1/ 65,518 Held under repurchase agreements 43 - 119 + 43 — Federal Agency obligations- Held under repurchase agreements 14 9 + 14 -- Acceptances Bought outright 62 -.- + 29 62 Held under repurchase agreements 3 25 + 3 — Discounts and advances- Member bank borrowings 752 + 134 - 239 446 Other — — - 90 -- Float 2,634 - 301 5 2,513 Other F. R. assets 1,047 + 40 - 474 1,086 Total Reserve Bank credit 69,850 + 897 +6,833 69,625 Gold stock 10,332 -- -1,035 10,332 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,434 + 5 + 427 7,434 88,016 + 902 +6,224 87,791 Currency in circulation 58,010 + 5 +3,832 58,386 Treasury cash holdings 480 - 13 + 24 466 Treasury deposits with F. R. Banks 1,464 j- 794 + 335 1,274 Foreign deposits with F. R. Banks 166 + 11 + ' 3 199 Other deposits with F. R. Banks 693 + 4 - 93 688 Other F. R. liabilities and capital 2,233 + 64 23 2,253 Member bank reserves: 63,045 + 864 +4,077 63,266 With Federal Reserve Banks 24,971 + 38 +2,148 24,525 Currency and coin 5,371 + 351 + 371 5,371 Total reserves held 30,342 + 389 +2,519 29,896 Required reserves 30,056 + 361 +2,506 30,056 Excess reserves 286 + 28 + 13 1 - 160 NOTE: A net of $106 million of surplus reserves were eligible to be carried forward from the week ended June 23, into the week ending June 30. On June 30, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $17,980 million, a decrease of $1,400 million for the week. 1/ Includes $47 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. * Estimated (Dallas 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 30, June 23, July 1, 1971 197: 1970 A S S E TS Gold certificate account 10,0 75 970 Special Drawing Rights certif. accts. * 400 Cash (777) 283 5 67 Discounts and advances 446 185 477 Acceptances: Bought outright 62 28 Held under repurchase agreements 64 Federal Agency obligations-- Held under repurchase agreements 53 U. S. Government securities : Bought outright— Bills 27,929 816 + 5,522 Certificates Notes 34. 354 + 47 + 1,934 Bonds 3\ 235 + 15 + 348 Total bought outright 1/ 65,518 + 878 + 7,804 Held under repurchase agreements - 288 Total U. S. Government securities 65,518 + 590 + 7,804 Total loans and securities 66,026 + 288 + 7,355 Cash items in process of collection (3,107) 10,707 + 23 + 107 Bank premises 141 - 2 + 22 Other assets 2_/ 945 + 41 297 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,884) 88,577 + 345 + 6,284 L I A B I L I T I ES Federal Reserve notes (777) 51,444 + 304 + 3,641 Deposits: Member bank reserves 24,525 - 668 + 2,129 U. S. Treasurer—general account 1,274 + 555 + 374 Foreign 199 + 18 + 14 Other 3/ 688 - 13 - 125 Total deposits 26,686 - 108 + 2,392 Deferred availability cash items (3,107) 8,194 + 93 + 282 Other liabilities and accrued dividends 546 - 2 - 63 TOTAL LIABILITIES (3,884) 86,870 +~~~ TE7 +~6 ,252 C A P I T AL A C C O U N TS Capital paid in 726 1 + 41 Surplus 702 -- + 33 Other capital accounts 279 59 - 42 Contingent liability on acceptances purchased for foreign correspondents 230 * Figures in parenthese are the eliminations made in the consolidating process, _1/ Includes $47 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. ** Estimated (Dallas District), MATURITY DISTRIBUTION OF LOANS AND SECURITIES, June 30. 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 444 15 3,268 - 719 16 days to 90 days 2 47 13,298 + 542 91 days to 1 year 18,552 + 653 Over 1 year to 5 years 23,600 + 37 Over 5 years to 10 years 5,907 + 11 Over 10 years 893 + 13 Total 446 62 65,518 537 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 30, 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 10,075 769 1,865 499 800 1,023 490 1,476 423 199 407 131 1,993 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 777 82 187 40 46 55 184 29 15 19 31 20 69 Other cash 283 10 22 9 27 37 36 36 17 8 26 19 36 Discounts and advances 446 I 26 98 21 5 14 53 189 3 3 5 25 4 Acceptances: Bought outright 62 — 62 -- -- -- __ -- — -- -- -- -- Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations— Held under repurchase agreements -- - U. S. Government securities: Bought outright— Bills 27,929 1,290 7,299 1,480 2,108 2,014 1,396 4,589 1,021 544 1,078 1,299 3,811 Certificates -- -- -- -- -- -- -- -- -- -- -- -- -- Notes 34,354 1,586 8,978 1,821 2,592 2,478 1,717 5,645 1,256 669 1,327 1,598 4,687 Bonds 3,235 149 845 172 244 233 162 532 118 63 125 151 441 Total bought outright 1_/ 65,518 3,025 17,122 3,473 4,944 4,725 3,275 10,766 2,395 ~~T, 276 2,530 3,048 8,939 Held under repurchase agreements -- -- — -- -- -- -- -- -- — -- -- -- Total U. S. Government securities 65,518 3,025 17,122 3,473 4,944 4,725 3,275 10,766 2,395 T ,276 2,530 3,048 8,939 Total loans and securities 66,026 3,051 17,282 3,494 4,949 4,739 3,328 10,955 2,398 l ,279 2,535 3,073 8,943 Cash items in process of collection 13,814 777 2,357 769 1,033 1,019 1,346 2,291 706 523 941 893 1,159 Bank premises 141 2 8 3 18 13 16 17 14 15 18 9 8 Other assets _2/ 945 51 348 52 59 54 38 120 26 16 29 36 116 TOTAL ASSETS 92,461 4,765 22,162 4,889 6,965 6,976 5,460 14,994 3,614 2 ,066 4,002 4,195 12,373 1/ Includes $47 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. * 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 30, 1971 i * 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 52,221 2,913 12,469 3,034 4,221 4,643 2,568 9,121 2,008 902 1,962 2,034 6,346 Deposits: Member bank reserves 24,525 953 6,252 1,013 1,585 1,267 1,554 3,483 883 569 1,076 1,334 4,556 U. S. Treasurer—general account 1,274 70 355 73 61 85 85 71 58 70 103 51 192 Foreign 199 8 1/ 74 9 15 9 11 26 6 4 7 9 21 Other 688 3 2/ 639 1 -- 5 3 4 1 3 3 2 24 Total deposits 26,686 1,034 7,320 1,096 1,661 1,366 1,653 3,584 948 646 1,189 1,396 4,793 Deferred availability cash items 11,301 713 1,785 642 887 834 1,102 1,939 580 471 760 650 938 Other liabilities and accrued dividends 546 26 143 29 43 W 27 90 20 10 20 25 74 TOTAL LIABILITIES 90,574 4,686 21,717 4,801 6,812 6,882 5,350 14,734 3,556 2,029 3,931 4,105 12,151 CAPITAL ACCOUNTS Capital paid in 726 33 189 38 66 38 49 108 25 17 31 40 92 Surplus 702 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 279 13 71 14 24 20 14 47 9 4 in 11 A? TOTAL LIABILITIES AND CAPITAL ACCOUNTS 92,461 4,765 22,162 4,889 6,965 6,976 5,460 14,994 3,614 2,066 4.002 4,195 12,373 Contingent liability on acee ptances purchased for foreig n correspondents 230 11 3/ 60 12 21 12 15 3A_ 8_ 5_ LD_ U_ 22... FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,065 13,176 3,102 4,403 4,771 2,729 9,382 2,086 931 2,029 2,194 6,627 Collateral for F. R. notes: Gold certificate account 170 500 300 510 530 1,000 155 5 U. S. Government securities 2,920 12,800 3,000 4,000 4,330 2,900 8.750 1,980 960 2,075 2,230 7,000 . Total collateral 3,090 13,300 3,300 4,510 4,860 2,900 9,750 2,135 960 2,075 2,235 7,000 2/ After deducting $ 125 million participations of other Federal Reserve Bahks. 27 Includes IMF gold deposit, * Estimated 3/ After deducting $ 170 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis