H.4.1 Factors Affecting Reserve Balances of Depository Institutions

••i>j££2!&-- FEDERAL RESERVE Factors Affecting Bank Reserves and '•.f^TitS?:- Condition Statement of F.R. Banks H.4.1 For immediate release July 22, 1971 The average of daily figures for total reserves of member banks increased $658 million in the latest statement week to $30,969 million. Required reserves, excess reserves, and member bank borrowings at Federal Reserve Banks all increased. A seasonal decline in currency in circulation and a reduction in Treasury deposits with Federal Reserve Banks were the major factors suppling reserves in the latest week. In addition, System Open Market operations provided $613 million of reserves net, on a weekly average basis, primarily through repurchase agreements. Member bank borrowings rose to an average level of $1,122 million, somewhat higher than the recent average level, and exceeded excess reserves by $793 million compared to $952 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 21, July 14, July 22, July 21, and related items 12ZL 1971 1970 UH Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 65,694 + 25 +7,385 1/ 65,704 Held under repurchase agreements 653 + 537 + 465 901 Federal Agency obligations— Held under repurchase agreements 88 47 '- 50 75 Acceptances Bought outright 56 - 4 + 23 57 Held under repurchase agreements 24 + 8 17 25 Discounts and advances-- Member bank borrowings 1,122 + 129 - 264 1,561 Other -- — 83 Float 3,203 - 24 + 9 2,714 Other F. R. assets 1,156 + 11 - 101 1,201 Total Reserve Bank credit 71,997 + 731 +7,467 72,238 Gold stock 10,332 -- -1,035 10,332 Special Drawing Rights certif. acct. 400 -- — 400 Treasury currency outstanding 7,440 + 10 + 450 7,441 90,168 + 740 +6,881 90,411 Currency in circulation 58,955 - 227 +4,208 58,916 Treasury cash holdings 470 + 10 + 15 492 Treasury deposits with F. R. Banks 1,602 - 176 + 566 1,110 Foreign deposits with F. R. Banks 166 + 4 15 115 Other deposits with F. R. Banks 703 - 18 - 45 698 Other F. R. liabilities and capital 2,183 - 81 + 13 2,211 64,080 - 488 +4,743 63,542 Member bank reserves: With Federal Reserve Banks 26,089 +1, 228 +2,140 26,870 Currency and coin 4,880 - 570 + 456 4,880 Total reserves held 30,969 + 658 +2,596 31,750 Required reserves 30,640 + 370 +2,452 30,640 Excess reserves 329 + 288 + 144 1,110 NOTE: A net of $3 million of surplus reserves were eligible to be carried forward from the week ended July 14, into the week ending July 21. On July 21, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $18,126 million, an increase of $432 million for the week. J7 Includes $26 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 21, July 14, July 22, 1971 1971 1970 A i i I I i Gold certificate account 10,075 - 970 Special Drawing Rights certif. accts. 400 Cash (824) 274 + 7 + 71 Discounts and advances 1,561 - 281 + -345 Acceptances: Bought outright 57 + 20 Held under repurchase agreements 25 + 25 + 25 Federal Agency obligations-- Held under repurchase agreements 75 + 75 75 U. S. Government securities : Bought outright-- Bills 28,115 68 +5*284 Certificates Notes 34,354 +1 ,934 Bonds 3,235 + 348 Total bought outright 1/ 65,704 + 68 +7 ,566 Held under repurchase agreements "~ 901 + 901 + 901 Total U. S. Government securities 66,605 + 969 +8, 467 Total loans and securities 68,323 + 788 +8 ,932 Cash items in process of collection (3,133) 11,076 -1 ,124 + 847 Bank premises 144 + 1 + 23 Other assets 2_/ 1^057 + 43 106 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,957) 91,349 - 285 +8, 797 ,',''_ _, ', L I A B I L I T I ES Federal Reserve notes (824) 51,983 293 +3,913 Deposits: Member bank reserves 26,870 +1, 927 +3,936 U. S. Treasurer—general account 1,110 -1, 406 + 129 Foreign 115 - 48 - 65 Other 3y 698 + 4 72 Total deposits 28,793 + 477 +3,928 Deferred availability cash items (3,133) 8,362 - 547 + 927 Other liabilities and accrued dividends 568 + 16 24 ;TOTAL LIABILITIES (3,957) 89,706 - 347 +8,744 C A P I T AL A C C O U N TS Capital paid in 730 + 1 + 44 Surplus 702 — + 33 Other capital accounts 211 + 61 24 Contingent liability on acceptances purchased for foreign correspondents 227 12 * Figures in parentheses are the eliminations made in the consolidating process, \J Includes $26 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 21, 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 1,559 43 5,393 +1,808 16 days to 90 days 2 39 13,377 - 605 91 days to 1 year — — 17,510 - 159 Over 1 year to 5 yearss — 23,600 __ Over 5 years to 10 years ars -« 5,907 --. Over 10 years -- -- 893 — Total 1,561 82 66,680 +1,044 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 21, 1971 i i < in San New Phila Cleve Rich St. Minne Kansas Total j 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 i 544 979 608 956 936 539 1,760 441 245 539 380 2,148 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 824 j 87 176 51 47 77 159 29 24 23 34 31 86 Other cash i 274 1 8 23 9 26 36 34 37 15 7 26 18 35 Discounts and advances 1,561 136 519 36 6 126 79 514 4 5 19 81 36 Acceptances: Bought outright 57 -- 57 -- -- -- — — -- — -- — -- Held under repurchase agreements ! 25 25 — -- — -- -- -- -- — -- -- — Federal Agency obligations-- Held under repurchase agreements 75 75 -- — -- — U. S. Government securities: Bought outright— Bills 28,115 1,298 7,347 1,490 2,122 2,028 1,405 4,620 1,028 548 1,085 1,308 3,836 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/ 65,704 3,033 17,170 3,483 4,958 4,739 3,284 10,797 2,402 1,280 2,537 3,057 8,964 Held under repurchase agreements 901 -- 901 -- — -- -- — -- -- — -- -- Total U. S. Government securities 66,605 3,033 18,071 3,483 4,958 4,739 3,284 10,797 2,402 1,280 2,537 3,057 8,964 Total loans and securities 68,323 ; 3,169 1.8,747 3,519 4,964 4,865 3,363 11,311 2,406 1,285 2,556 3,138 9,000 Cash items in process of collection 14,209 851 2,280 745 1,059 1,099 1,421 2,377 733 587 895 879 1,283 ftaik premises 144 2 8 3 19 13 16 17 14 17 18 9 8 9th.er assets 2/ 1,057 56 374 50 64 62 43 135 30 17 33 49 144 TOTAL ASSETS 95,306 4,740 22,680 5,008 7,168 7,124 5,597 15,736 3,678 2,188 4,116 4,518 12,753 y Includes $26 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. ~/ 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 21, 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 52,807 2,935 12,639 3,068 4,284 4,685 2,566 9,237 2,032 909 1,981 2,076 6,395 Deposits: Member bank reserves 26,870 872 6,976 1,125 1,701 1,278 1,679 4,049 892 671 1,146 1,585 4,896 U. S. Treasurer—general account 1,110 75 229 93 63 123 49 93 64 51 150 65 55 Foreign 115 5 1/ 30 6 10 6 8 17 4 3 5 6 15 Other 698 1 2/640 3 1 14 3 5 1 3 3 2 7? Total deposits 28,793 953 7,875 1,227 1,775 1,421 1,739 4,164 961 728 1,304 1,658 4,988 Deferred availability cash items 11,495 751 1,574 599 920 890 1,158 1,999 610 502 743 669 1,080 Other liabilities and accrued dividends 568 26 161 28 42 39 27 87 20 13 21 25 79 TOTAL LIABILITIES 93,663 4,665 22,249 4,922 7,021 7,035 5,490 15,487 3,623 2,152 4,049 4,428 12,542 CAPITAL ACCOUNTS Capital paid in 730 33 191 38 66 38 49 109 25 17 31 41 92 Surplus 702 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 211 9 55 12 18 15 11 35 6 3 6 10 31 TOTAL LIABILITIES AND 95,306 4,740 22,680 5,008 7,168 7,124 5,597 15,736 3,678 2,188 4,116 4,518 12,753 CAPITAL ACCOUNTS Contingent liability on ace: eptances purchased for foreign correspondents 227 11 3/ 60 11 20 11 15 34 8_ 5 JL0 13 29 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,095 13,262 3,145 4,447 4,840 2,765 9,515 2,126 939 2,064 2,222 6,728 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.pop 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 V After deducting $ 85 million participations of other Federal Reserve Bahks. 2/ Includes IMF gold deposit. 3/ After deducting $167 million participations <Sr£ other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis