H.4.1 Factors Affecting Reserve Balances of Depository Institutions

..^o^o^V.. FEDERAL RESERVE Factors Affecting Bank Reserves and '••f«£V Condition Statement of F.R. Banks H.4.1 For immediate release July 15, 1971 The average of daily figures for total reserves of member banks declined $29 million in the latest statement week to $30,311 million. Required reserves and member bank borrowings at Federal Reserve Banks increased while excess reserves declined. Increases in currency in circulation and Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. An increase in float was the major factor supplying reserves. In addition, System Open Market operations provided a small amount of reserves net, on a weekly average basis. Member bank borrowings were above the average levels of recent weeks and exceeded excess reserves by $952 million compared to $351 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 14, July 7. July 15, July 14, and related items 1971 1971 1970 1971 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 65, 669 208 +7,998 1/ 65,636 Held under repurchase agreements 116 134 - 516 Federal Agency obligations— Held under repurchase agreements 41 20 58 Acceptances Bought outright 60 - 3 + 26 57 Held under repurchase agreements 16 - 17 - 47 Discounts and advances-- Member bank borrowings 993 + 326 - 688 1,842 Other -- — 90 Float 3,227 + 259 + 539 3, 313 Other F. R. assets 1,145 + 53 - 105 1, 157 Total Reserve Bank credit 71,266 + 672 +7,058 72, 005 Gold stock 10,332 -- -1,035 10, 332 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,430 - 1 + 442 7 »«1 89,428 + 671 +6,466 90, 168 Currency in circulation 59,182 + 511 +4,192 59, 230 Treasury cash holdings 460 — + 23 468 Treasury deposits with F. R. Banks 1,778 + 243 + 581 2 ,516 Foreign deposits with F. R. Banks 162 - 8 63 163 Other deposits with F. R. Banks 721 + 14 21 694 Other F. R. liabilities and capital 2.264 - 43 18 2 ,133 Member bank reserves: 64,568 + 717 +4,695 65, 204 With Federal Reserve Banks 24,861 - 45 +1,771 24 ,965 Currency and coin 5,450 + 16 + 318 5,4 50 Total reserves held 30,311 - 29 +2,089 30,4 15 Required reserves 30,270 + 246 +2,278 30,2 70 Excess reserves 41 - 275 - 189 145 NOTE: A net of $165 million of surplus reserves were eligible to be carried forward from the week ended July 7, into the week ending July 14. On July 14, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $17,694 million, a decrease of $276 million for the week. V Includes $32 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 July 7, July 15, July 14, 1971 1970 1971 A S S E TS Gold certificate account 10,075 970 Special Drawing Rights certif. accts. 400 * Cash 267 7 + 63 (681) Discounts and advances 1,842 +1,371 - 194 Acceptances: Bought outright 57 + 23 Held under repurchase agreements 98 Federal Agency obligations-- Held under repurchase agreements 172 U. S. Government securities : Bought outright— Bills 28,047 + 518 +5,683 Certificates Notes 34,354 — +1,934 Bonds 3,235 -- + 348 Total bought outright 1/ 65,636 + 518 +7,965 Held under repurchase agreements ' -- -- - 996 Total U. S. Government securities 65,636 + 518 +6,969 Total loans and securities 67,535 +1,885 +6,528 Cash items in process of collection (3,229) 12,222 +1,257 +1,057 Bank premises 143 — + 22 Other assets 2y 1,014 + 34 - 98_ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,910) 91,656 +3,169 +6,602 Federal Reserve notes (681) 52,276 + 37 +3,923 Deposits: Member bank reserves 24,965 +2,033 + 755 U. S. Treasurer--general account 2,516 + 451 +1 ,383 Foreign 163 33 - 10 Other y 694 19 - 2 Total deposits 28,338 +2,432 +2, 126 Deferred availability cash items (3,229) 8,909 + 888 + 563 Other liabilities and accrued dividends 552 + 4 - 70 TOTAL LIABILITIES (3,910) 90,075 +3,361 +6., 542 £ A P I T A L A C C O U N TS Capital paid in 729 + 2 + 43 Surplus 702 — + 33 Other capital accounts 150 194 - 16 Contingent liability on acceptances purchased for foreign correspondents 228 10 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $32 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, JULY 14, 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 1,841 10 3,585 +468 16 days to 90 days 1 47 13,982 +416 91 days to 1 year — — 17,669 -366 Over 1 year to 5 year*s s „ 23,600 -- Over 5 years to 10 years *ars 5,907 -- -p- Over 10 years — — 893 — Total 1,842 57 65,636 +518 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 JULY 14, 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 i Gold certificate account 10,075 674 1,805 646 788 1,073 470 1,800 403 316 537 326 1,237 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 681 71 166 36 39 57 132 25 16 16 32 20 71 Other cash 267 8 21 8 25 36 34 35 15 7 26 18 34 Discounts and advances 1,842 79 852 23 91 81 51 238 ~ 17 62 344 Acceptances: Bought outright 1 57 -- 57 -- -- -- -- -- -- -- -- -- Held under repurchase agreements -- " -- -- -- -- -- -- -- Federal Agency obligations-- Held under repurchase agreements 1 ""' U. S. Government securities: Bought outright— Bills 28,047 1,295 7,330 1,487 2,117 2,023 1,401 4,608 1,025 547 1,083 1,304 3,827 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/ 65,636 3,030 :L 7,153 3,480 4,953 4,734 3,280 10,785 2,399 1,279 2,535 3,053 8,955 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities 65,636 3,030 :L 7,153 3,480 4,953 4,734 3,280 10,785 2,399 1,279 2,535 3,053 8,955 Total loans and securities 67,535 3,109 :L 8,062 3,503 5,044 4,815 3,331 11,023 2,401 1,281 2,552 3,115 9,299 Cash items in process of collection 15,451 859 2,895 779 1,126 1,108 1,527 2,508 839 601 918 957 1,334 Bank premises 143 2 8 3 18 13 16 17 14 17 18 9 8 Other assets 2/ 1,014 53 366 49 62 60 42 129 29 16 31 38 139 TOTAL ASSETS 95,566 4,799 :Z 3,416 5,047 7,135 7,198 5,574 15,607 3,732 2,261 4,129 4,497 L2,171 1/ Includes $32 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 27 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 JULY 14, 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) L I A B I L I T I ES Federal Reserve notes 52,957 2,953 12,627 3,081 4,289 4,699 2,592 9,247 2,042 913 1,989 2,080 6,445 Deposits: Member bank reserves 24,965 851 7,131 1,058 1,479 1,219 1,511 3,617 841 568 1,087 1,410 4,193 U. S. Treasurer—general account 2,516 143 748 172 172 186 100 303 91 206 154 126 115 Foreign 163 7 1/ 53 8 14 8 10 22 5 3 6 8 19 Other 694 1 2/635 2 — 14 3 6 1 3 3 1 25 Total deposits 28,338 1,002 8,567 1,240 1,665 1,427 1,624 3,948 938 780 1,250 1,545 4,352 Deferred availability cash items 12,138 746 1,667 616 997 949 1,225 2,086 678 520 802 760 1,092 Other liabilities and accrued dividends 552 26 141 28 42 38 29 88 20 13 22 25 80 TOTAL LIABILITIES 93,985 4,727 23,002 4,965 6,993 7,113 5,470 15,369 3,678 2,226 4,063 4,410 11,969 CAPITAL ACCOUNTS Capital paid in 729 33 191 38 66 38 49 108 25 17 31 41 92 Surplus 702 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 150 6 38 8 13 11 8 25 5 2 5 7 22 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 95,566 4,799 23,416 5,047 7,135 7,198 5,574 15,607 3,732 2,261 4,129 4,497 12,171 Contingent liability on acee ptances purchased for foreig n correspondents 228 11 3/ 60 12 20 12 15 34 8_ 5 9 13^ 29 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,074 13,215 3,140 4,446 4,839 2,768 9,504 2,131 942 2,066 2,232 6,732 Collateral for F. R. notes: Gold certificate account 250 500 300 510 530 1,000 155 5 U. S. Government securities 2,920 13,000 3,000 4,000 4,375 2,900 8,750 2,030 960 2,125 2,280 7,000 Total collateral 3,170 13,500 3,300 4,510 4,905 2,900 9,750 2,185 960 2,125 2,285 7,000 17 After deducting $110 million participations of other Federal Reserve Bahks. 2/ Includes IMF gold deposit. 3/ After deducting $168 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis