H.4.1 Factors Affecting Reserve Balances of Depository Institutions

;oFGoi,-- FEDERAL RESERVE Factors Affecting Bank Reserves and '••*«£«&*:•' Condition Statement of F.R. Banks H.4.1 For immediate release August 5, 1971 The average of daily figures for total reserves of member banks increased $336 million in the latest statement week to $30,938 million. Required reserves declined while excess reserves and member bank borrowings at the Federal Reserve Banks increased. A decline in float was the major factor absorbing reserves in the latest statement week. Treasury deposits with Federal Reserve Banks also declined and more than offset this reserve drain. In addition, System Open Market operations provided $116 million of reserves net, on a weekly average basis, through outright purchases of Treasury bills and repurchase agreements, Member bank borrowings averaged $765 million and exceeded excess reserves by $294 million compared to $469 million for the previous week. Averages of daily figures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, Aug. 4, July 28, 1 Aug5 , Aug. 4, and related items 1971 1971 1 1970 1971 Reserve Bank credit: (Iri millions of dollars) U.S. Government securities— Bought outright—System account 65,822 + 101 +7 ,262 1/65,841 Held under repurchase agreements 307 + 40 + 60 1,215 Federal Agency obligations- Held under repurchase agreements 53 14 20 160 Acceptances Bought outright 54 3 + 17 51 Held under repurchase agreements 14 8 + 4 47 Discounts and advances— Member bank borrowings 765 A. 220 _ 245 657 Other — -- - 40 -- Float 2,608 - 168 + 187 2,378 Other F. R. assets 1,222 + 35 - 132 1,281 Total Reserve Bank credit 70,845 + 204 +7 ,132 71,630 Gold stock 10,332 — -1 ,035 10,332 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 7,443 -- + 443 7,446 89,020 + 203 +6 ,540 89,808 Currency in circulation 58,691 + 8 +4 ,103 58,930 Treasury cash holdings 484 - 4 + 23 481 Treasury deposits with F. R. Banks 1,121 - 262 + 67 733 Foreign deposits with F. R. Banks 174 + 37 - 16 178 Other deposits with F. R. Banks 746 + 38 - 44 724 Other F. R. liabilities and capital 2,322 + 86 - 15 2,393 63,538 - 96 -H,1 20 63,439 Member bank reserves: With Federal Reserve Banks 25,482 + 299 +2, 422 26,370 Currency and coin 5,456 + 37 + 374 5,456 Total reserves held 30,938 + 336 +2, 796 31,826 Required reserves 30,467 - 59 +2, 513 30,467 Excess reserves 471 + 395 + 283 1,359 NOTE: A net of $18 million of surplus reserves were eligible to be carried forward from the week ended July 28, into the week ending August 4. On August 4, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $18,452 million, an increase of $194 million for the week. \J Includes $82 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 Aug. 4, July 2H, Aug. 5, 1971 1971 1970 A S S E TS Gold certificate account 10,075 970 Special Drawing Rights certif. accts. * 400 Cash (842) 268 2 + 61 Discounts and advances 657 124 + 14 Acceptances: Bought outright 51 3 + 14 Held under repurchase agreements 47 + 47 + 9 Federal Agency obligations-- Held under repurchase agreements 160 + 160 U. S. Government securities : Bought outright— Bills 28,252 79 +4,962 Certificates Notes 34,354 +1,934 Bonds 3,235 + 348 Total bought outright 1/ 65,841 + 79 +7,244 Held under repurchase agreements ~ 1^215 +1 ,215 + 383 Total U. S. Government securities 67,056 +1 ,294 +7,627 Total loans and securities 67,971 +1 ,374 +7,663 Cash items in process of collection (2,833) 10,289 + 96 + 520 Bank premises 144 + 23 Other assets 2y 1,137 + 76 - 134 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,675) 90.284 ±L, 544 +7,163 k 1 A 1 III 11 I £ 1 Federal Reserve notes (842) 51,975 + 137 +3,782 Deposits: Member bank reserves 26,370 +1,714 +2,847 U. S. Treasurer--general account 733 - 680 21 Foreign 178 + 29 + 9 Other 3/ 724 + 2 - 80 Total deposits 28,005 +1,065 +2,755 Deferred availability cash items (2,833) 7,911 + 200 + 589 Other liabilities and accrued dividends 621 + 79 6 TOTAL LIABILITIES (3,675) 88,512 +1,481 +7,120 £ £ I 1 1 £ L A C C O U N TS Capital~paid in*" 731 •>«• + 44 Surplus 702 — + 33 Other capital accounts 339 + 63 34 Contingent liability on acceptances purchased for foreign correspondents 229 + 1 32 * Figures in parentheses are the eliminations made in thec onsolidating process 1/ Includes $82 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. AUGUST 4, 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 655 60 5,836 +1,318 16 days to 90 days 2 38 13,421 + 95 91 days to 1 year — — 17,559 + 41 Over 1 year to 5 year"sS — 23,600 • - Over 5 years to 10 »ars -- 5,907 -- Over 10 years -- — 893 — Total 657 98 67,216 +1,454 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 AUGUST 4, 1971 • i ii San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dall as Fran York delphia land mond Louis apolis City cisco (In mi illions of dollars) A S S E TS Gold certificate account 10,075 431 1,711 475 508 887 483 2,073 332 95 372 473 2,235 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks [ 842 102 160 58 61 77 159 33 21 32 35 25 79 Other cash j 268 8 21 8 26 35 33 39 16 6 26 17 33 Discounts and advances 657 27 123 34 29 88 298 8 9 8 32 * Acceptances: Bought outright 51 51 -- -- -- -- — -- — — -- -- — Held under repurchase agreements ' 47 47 -- — -- — — -- — — — -- — Federal Agency obligations-- Held under repurchase agreements 160 - 160 U. S. Government securities: Bought outright— Bills 28,252 1,412 7,286 1,496 2,193 2,039 1,407 4,654 1,042 577 1,114 1. ,259 3,773 Certificates -- -- — — -- — -- -- -- -- -- -- — Notes 34,354 1,716 8,859 1,820 2,668 2,480 1,712 5,658 1,267 702 1,354 1. ,531 4,587 Bonds ! 3,235 162 834 171 252 234 161 533 119 66 127 144 432 Total bought outright 1/ 65,841 3,290 16,979 3,487 5,113 4,753 3,280 10,845 2,428 1,345 2,595 2. ,934 8,792 Held under repurchase agreements 1,215 -- 1,215 — — -- -- -- -- -- -- -- -- Total U. S. Government securities 67,056 3,290 18,194 3,487 5,113 4,753 3,280 10,845 2,428 1,345 2,595 2. ,934 8,792 Total loans and securities 67,971 3,317 18,575 3,487 5,147 4,782 3,368 11,143 2,436 1,354 2,603 2 ,966 8,793 Cash items in process of collection 13,122 781 2,188 699 935 999 1,277 2,186 675 518 825 818 1,221 Bank premises 144 2 8 3 19 13 16 17 14 17 18 9 8 Other assets 2/ 1,137 62 383 59 70 71 47 147 33 18 35 52 160 TOTAL ASSETS 93,959 4,726 23,139 4,812 6,799 6,900 5,405 15,708 3,542 2,047 3,929 t\^ ,374 12,578 1/ Includes $82 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. 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 AUGUST 4, 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 52,817 2,909 12,694 3,060 4,294 4,672 2,569 9,223 2,027 904 1,987 2,076 6,402 Deposits: Member bank reserves 26,370 951 7,346 996 1,455 1,206 1,575 4,165 841 586 1,104 1,485 4,660 U. S. Treasurer—general account 733 40 128 36 22 69 54 70 31 51 44 59 129 Foreign 178 7 1/ 72 7 13 7 10 22 5 3 6 8 18 Other 724 3 2/ 628 4 2 15 6 30 2 4 5 3 22 Tot a1 deposits 28,005 1,001 8,174 1,043 1,492 1,297 1,645 4,287 879 644 1,159 1,555 4,829 Deferred availability cash items 10,744 705 1,622 585 812 792 1,050 1,834 555 448 688 621 1,032 Other liabilities and accrued dividends 621 30 185 31 45 40 28 93 21 12 23 26 87 TOTAL LIABILITIES 92,187 4,645 22,675 4,719 6,643 6,801 5,292 15,437 3,482 2,008 3,857 4,278 12,350 CAPITAL ACCOUNTS Capital paid in 731 33 191 38 66 38 50 109 25 17 31 41 92 Surplus 702 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 339 15 88 19 27 25 16 57 11 6 11 16 48 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 93,959 4,726 23,139 4,812 6,799 6,900 5,405 15,708 3,542 2,047 3,929 4,374 12,578 Contingent liability on ace: eptances purchased for forei- gn correspondents 229 11 3/ 60 12 20 12 15 34 8_ 5_ 10 13 22. FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,065 13,277 3,132 4,467 4,817 2,746 9,528 2,118 942 2,075 2,212 6,738 Collateral for F. R. notes: Gold certificate account 250 500 300 500 530 -- 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 4,500 4,905 2,900 9,750 2,185 960 2,125 2,285 7,000 1/ After deducting $106 million participations of other Federal Reserve Bahks. 2/ Includes IMF gold deposit. 3/ After deducting $ 169 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis