H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Qr GOVf *. FEDERAL RESERVE •MMNMtt Factors Affecting Bank Reserves and ***f^LRtsf:** Condition Statement of F.R. Banks H.4.1 For immediate release August 12, 1971 The average of daily figures for total reserves of member banks declined $595 million in the latest statement week to $30,343 million. Required reserves, excess reserves and member bank borrowings at the Federal Reserve Banks all declined. The major factors absorbing reserves in the latest statement week were a seasonal rise in currency in circulation and modest declines in float and in the gold stock. In addition, System Open Market operations absorbed $33 million in reserves net, on a weekly average basis. Most of this absorp tion was through the maturing of repurchase agreements made in the previous week and matched sales-purchase transactions made in the current week. Member bank borrowings averaged $593 million and exceeded excess reserves by $569 million compared to $294 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Aug. 11, Aug. 4, Aug. 12, Aug. 11, * and related items 1971 1971 1970 1971 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 65,872 50 +7,046 1/ 65,902 Held under repurchase agreements 258 49 - 185 115 Federal Agency obligations- Held under repurchase agreements 28 25 23 Acceptances Bought outright 49 5 + 13 47 Held under repurchase agreements 10 4 + 6 Discounts and advances— Member bank borrowings 593 172 - 581 574 Other — -- 39 Float 2,535 - 73 + 127 2,404 Other F. R. assets 1,254 + 32 - 149 1,315 Total Reserve Bank credit 70,599 - 246 +6,260 70,357 Gold stock 10,246 - 86 -1,121 10,132 Special Drawing Rights certif. acct. 400 -- — 400 Treasury currency outstanding 7,453 + 10 + 451 7,457 88,699 - 321 +5,592 88,346 Currency in circulation 59,007 + 316 +4,109 59,207 Treasury cash holdings 475 - 9 + 25 476 Treasury deposits with F. R. Banks 1,157 + 36 + 161 1,292 Foreign deposits with F. R. Banks 169 - 5 2 163 Other deposits with F. R. Banks 727 - 19 - 139 746 Other F. R. liabilities and capital 2,406 + 84 + 51 2,418 63,941 + 403 +4,206 64 302 Member bank reserves: With Federal Reserve Banks 24,758 - 724 +1,386 24,0 44 Currency and coin 5,585 + 129 + 369 _5, 585 Total reserves held 30,343 - 595 +1,755 29 ,629 Required reserves 30,319 - 148 +2,010 30 ,319 Excess reserves 24 - 447 - 255 - 690 NOTE: A net of $230 million of surplus reserves were eligible to be :arried forward from the week ended August 4, into the week ending August 11. On August 11, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $18,670 million, an increase of $218 million for the week. 1/ Includes $103 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. * Estimated (Dallas and San Francisco Districts.) 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. 11, Aug. 4, Aug. 12, 1971 **! 1971 1970 A S S E TS Gold certificate account 9,875 200 -1,170 Special Drawing Rights certif. accts. 400 Cash (760) 267 1 + 58 Discounts and advances 574 83 + 113 Acceptances: Bought outright 47 4 + 10 Held under repurchase agreements 47 Federal Agency obligations-- Held under repurchase agreements 160 U. S. Government securities : Bought outright- Em s 28,313 61 +4,770 Certificates Notes 34,354 +1,934 Bonds 3,235 + 348 Total bought outright 1/ 65,902 + 61 +7,052 Held under repurchase agreements 115 -Moo - 278 Total u. S. Government securities 66,017 -1,039 +6,774 Total loans and securities 66,638 -1,333 +6,897 Cash items in process of collection (2,709) 10,442 + 142 + 813 Bank premises 146 + 2 + 24 Other assets 27 1,169 + 32 - 133 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,469) 88,937 -1,358 +6,489 mmmmmmmmmmtmmm mmmmmmmgmgmmm mmmmmmdmmmmmmmm k I h Ilk II IH Federal Reserve notes (760) 52,236 + 261 +3,846 Deposits: Member bank reserves 24,044 -2,337 +1,600 U. S. Treasurer—general account 1,292 + 559 + 249 Foreign 163 15 - 44 Other 3/ 746 + 22 - 170 Total deposits 26,245 -1,771 +1,635 Deferred availability cash items (2,709) 8,038 + 127 + 701 Other liabilities and accrued dividends 585 36 - 31 TOTAL LIABILITIES (3,469) 87,104 -1,419 +6,151 £ £ I 1 1 £ L A C C O U N TS Capital paid* in "~ 732 + 1 + 44 Surplus 702 — + 33 Other capital accounts 399 + 60 + 261 Contingent liability on acceptances purchased for foreign correspondents 245 16 14 * Figures in parentheses are the eliminations made in the consoldia ting process. 1/ Includes $103 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 and San Francisco Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 11, 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 558 11 4,516 -1,320 16 days to 90 days 16 36 13,567 + 146 91 days to 1 year — -- 17,534 25 Over 1 year to 5 yearss —•. 23,600 -- Over 5 years to 10 years iars „ — 5,907 _« Over 10 years — — 893 — Total 574 47 66,017 -1,199 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 11, 1971 San * New Phila Cleve Rich St. Minne Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran * cisco (In millions of dollars) A S S E TS Gold certificate account 9,875! 278 1,981 560 686 945 475 1,882 381 105 384 528 1,670 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 760 98 146 47 54 64 138 31 14 26 33 25 84 Other cash 267 9 21 9 25 34 34 39 15 6 25 17 33 Discounts and advances 574 79 53 14 41 8 86 246 2 ~> 6 26 6 Acceptances: Bought outright 47 — 47 — — -- — — — — — — -- Held under repurchase agreements — -- -- — — -- -- — -- — — — — Federal Agency obligations— Held under repurchase agreements — — — — U. S. Government securities: Bought outright— Bills 28,313 ! I ,414 7,301 1,500 2,198 2,043 1,411 4,664 1,045 578 1,116 1 ,262 3,781 Certificates -- — -- — — -- -- -- -- -- -- -- -- Notes 34,354 I ,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 J7 65,902 i~3" ,292 16,994 3,491 5,118 4,757 3,284 10,855 2,431 1,346 2,597 7, 937 8,800 Held under repurchase agreements ! 115' -- 115 -- -- -- -- -- -- — -- -- -- Total U. S. Government securities 66,017 [T, 292 17,109 3,491 5,118 4,757 3,284 10,855 2,431 1,346 2,597 T, 937 8,800 Total loans and securities 66,638 3 ,371 17,209 3,505 5,159 4,765 3,370 11,101 2,433 1,353 2,603 2 ,963 8,806 Cash items in process of collection 13,151 747 1,994 724 881 1,021 1,329 2,185 668 549 822 785 1,446 Bank premises 146 2 8 3 20 13 16 17 14 18 18 9 8 Other assets _2/ 1,169 65 435 60 74 70 47 155 35 20 38 44 126 TOTAL ASSETS 92,406 4 ,593 21,887 4,931 6,932 6,948 5,431 15,480 3,575 2,084 3,938 4 ,385 12,222 1/ Includes $103 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 AUGUST 11, 1971 " * 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 52,996 2,916 12,733 3,064 4,324 4,682 2,579 9,258 2,032 910 1,995 2,089 6,414 Deposits: Member bank reserves 24,044 831 6,147 1,016 1,478 1,180 1,522 3,890 845 609 1,086 1,438 4,002 U. S. Treasurer--general account 1,292 64 186 132 129 132 70 156 54 52 73 90 154 Foreign 163 7 1/ 56 8 13 7 10 22 5 3 6 8 18 Other 746 3 2/628 • 5 5 14 8 37 4 2 7 14 19 Total deposits 26,245 905 7,017 1,161 1,625 1,333 1,610 4,105 908 666 1,172 1,550 4,193 Deferred availability cash items 10,747 657 1,507 581 777 789 1,097 1,742 552 457 673 621 1,294 Other liabilities and accrued dividends 585 30 148 29 45 41 29 94 21 11 23 26 88 TOTAL LIABILITIES 90,573 4,508 21,405 4,835 6,771 6,845 5,315 15,199 3,513 2,044 3,863 4,286 11,989 CAPITAL ACCOUNTS Capital paid in 732 34 191 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 399 18 106 22 32 29 19 67 13 7 14 19 53 TOTAL LIABILITIES AND 92,406 4,593 21,887 4,931 6,932 6,948 5,431 15,480 3,575 2,084 3,938 4,385 12,222 CAPITAL ACCOUNTS Contingent liability on ace: eptances purchased for foreign correspondents 245 11 3/ 65 12 22 13 16 37 8 6 10 14 31 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,059 13,269 3,133 4,487 4,813 2,738 9,517 2,109 938 2,071 2,210 6,744 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 4,100 4,375 2,900 8,750 2,030 960 2,125 2,280 7,000 Total collateral 3,170 13,500 3,300 4,600 4,905 2,900 9,750 2,185 960 2,125 2,285 7,000 JL/ After deducting $107 million participations of other Federal Reserve Bahks. 2/ Includes IMF gold deposit. 3/ After deducting $180 million participations of other Federal Reserve Banks. * Estimated. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis