H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE *m Factors Affecting Bank Reserves and "••?«£V Condition Statement of F.R. Banks H.4.1 For immediate release August 26, 1971 The average of daily figures for total reserves of member banks declined $540 million in the latest statement week to $30,129 million. Required reserves, excess reserves and member bank borrowings at the Federal Reserve Banks all declined, An increase in Treasury deposits with Federal Reserve Banks and a decline in other Federal Reserve assets were the major factors absorbing reserves in the latest statement week. A seasonal decline in currency in circulation partially offset this reserve drain. In addition, System Open Market operations provided $292 million of reserves net, on a weekly average basis, through outright purchases of Treasury bills. Member bank borrowings declined to an average level of $771 million and exceeded excess reserves by $662 million compared to $891 million for the previous week. It should be noted that $80 million is being added currently to Wednesday data, as well as weekly average data, for preliminary figures on float, reserves at Federal Reserve Banks and excess reserves. Therefore, Wednesday data on this page will differ from Wednesday data ,on the following pages for float and reserves at Federal Reserve Banks. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, August 25, August 18, August 26, August 25, and related items 1971 1971 1970 1971 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 66,353 + 397 +6,674 i/66,406 Held under repurchase agreements — - 101 — Federal Agency obligations- Held under repurchase agreements — 10 — Acceptances Bought outright 53 u 6 1- 16 52 Held under repurchase agreements Discounts and advances-- Member bank borrowings 771 - 409 + 111 1,801 Other 7 Float 2,769 + 26 + 270 2 ,497 Other F. R. assets 726 - 318 - 342 772 Total Reserve Bank credit 70,673 - 408 +6,724 71, 528 Gold stock 10,132 -- -1,235 10, 132 Special Drawing Rights certif. acct. 400 -- --. 400 Treasury currency outstanding 7,465 + 8 + 454 7 ,466 88,670 - 400 +5,943 89 ,526 Currency in circulation 58,875 - 237 +4,173 58 ,854 Treasury cash holdings 479 4 6 + 28 488 Treasury deposits with F. R. Banks 1,153 + 115 + 108 1 ,375 Foreign deposits with F. R. Banks 184 + 8 3 135 Other deposits with F. R. Banks 681 - 49 - 105 689 Other F. R. liabilities and capital 2,253 + 63 + 22 2 275 r 63,625 - 94 +4,223 63 ,816 Member bank reserves: With Federal Reserve Banks 25,044 - 306 +1,719 25 ,710 Currency and coin 5,085 - 234 + 233 5,, 085 Total reserves held 30,129 - 540 +1,952 30, 795 Required reserves 30,020 - 360 +1,981 30,0 20 Excess reserves 109 - 180 - 29 775 NOTE: A net of $135 million of surplus reserves were eligible to be carried forward from the week ended August 18, into the week ending August 25. On August 25, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $20,005 million, an increase of $282 million for the week. 1/ Includes $22 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. 25, Aug. 18, Aug. 26, 1971 1971 1970 A S S E TS Gold certificate account 9,875 -1,170 Special Drawing Rights certif. accts. 400 Cash (887) 274 + 63 Discounts and advances 1,801 + 678 + 757 Acceptances: Bought outright 52 15 Held under repurchase agreements Federal Agency obligations- Held under repurchase agreements 68 U. S. Government securities : Bought outright-- Bills 28,708 + 464 +4,397 Certificates Notes 34,513 — +1,913 Bonds 3,185 .— + 478 Total bought outright 1/ 66,406 + 464 +6,788 Held under repurchase agreements 250 Total U. S. Government securities 66,406 +~ 214 +6,788 Total loans and securities 68,259 + 824 +7,560 Cash items in process of collection (2,905) 9,878 -1 ,276 + 727 Bank premises 146 + 24 Other assets 2/ 626 + 23 - 339 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,792) 59,458 +6,865 Federal Reserve notes (887) 51,893 279 +3,825 Deposits: Member bank reserves 25,630 + 570 +1, 966 U. S. Treasurer--general account 1,375 + 191 + 438 Foreign 135 - 31 - 54 Other 3/ 689 - 30 - 60 Total deposits 27,829 + 700 +2, 290 Deferred availability cash items (2,905) 7,461 - 908 + 727 Other liabilities and accrued dividends 585 - 7 - 29 TOTAL LIABILITIES (3,792) 87,768 - 494 +6,8 13 C A P I T AL A C C O U N TS Capital paid in 734 + 46 Surplus 702 + 33 Other capital accounts 254 62 - 27 Contingent liability on acceptances purchased for foreign correspondents 247 1 * Figures in parentheses are the eliminations made in the consolidating process. \J Includes $22 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 25. 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 1,798 13 4,113 -550 16 days to 90 days 3 39 17,434 +518 91 days to 1 year — — 15,341 +178 Over 1 year to 5 year•ss -- 23,240 -- Over 5 years to 10 yesaarrss — 5,377 — Over 10 years — — 901 -_ Total 1,801 52 66,406 +146 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 25, 1971 • ii ii m m 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 1 Gold certificate account 9,875 317 2,053 439 746 901 481 1,999 351 156 410 551 1,471 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 887 107 149 60 64 85 167 35 25 32 37 31 95 Other cash 274 8 23 9 24 35 34 39 17 7 27 16 35 Discounts and advances 1,801 81 1,139 10 26 65 107 219 - 5 /. 137 Acceptances: Bought outright 52 52 -- -- -- -- -- -- — — -- -- " Held under repurchase agreements -- _. -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations— Held under repurchase agreements -- - U. S. Government securities: Bought outright— Bills 128,708 1,435 7,403 1,521 2,230 2,072 1,430 4,728 1,059 586 1,131 1,280 3,833 Certificates -- " -- — -- -- — -- -- -- -- — -- Note 6 34,513 1,724 8,900 1,828 2,680 2,491 1,720 5,685 1,273 705 1,360 1,538 4,609 Bonds 3,185 159 821 169 247 230 159 525 117 65 126 142 425 Total bought outright JL/ 66,406 3,318 17,124 3,518 5,157 4,793 3,309 10,938 2,449 1,356 2,617 2,960 8,867 Held under repurchase agreements -- — -- — — — — -- -- — -- -- -- Total U. S. Government securities 66,406 [3,318 17,124 3,518 5,157 4,793 3,309 10,938 2,449 1,356 2,617 2,960 8,867 Total loans and securities 68,259 3,399 18,315 3,528 5,183 4,858 3,416 11,157 2,456 1,357 2,622 2,964 9,004 Cash items in process of collection 12,783 ! 780 2,017 689 895 1,010 1,316 2,065 673 513 829 891 1,105 Bank premises 146 ! 2 8 3 20 13 16 17 14 18 18 9 8 Other assets 2/ 626 ! 40 259 30 33 34 21 67 15 10 17 19 81 TOTAL ASSETS 93,250 4,676 22,917 4,781 6,998 6,972 5,473 15,449 3,566 2,100 3,975 4,495 11,848 1/ Includes $22 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 25, 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 1 E£ Federal Reserve notes 52,780 2,895 12,742 3,045 4,313 4,655 2,554 9,241 2,017 901 1,984 2,077 6,356 Deposits: Member bank reserves 25,630 913 6,919 1,009 1,558 1,330 1,591 3,989 871 633 1,101 1,562 4,154 U. S. Treasurer—general account 1,375 67 470 63 120 25 104 126 37 76 83 81 123 Foreign 135 5 1/ 47 6 11 6 8 18 4 3 5 7 15 Other 689 1 2/640 1 11 3 3 1 2 2 2 23 Total deposits 27,829 986 8,076 1,079 1,689 1,372 1,706 4,136 913 714 1,191 1,652 4,315 ' Deferred availability cash items 10,366 686 1,509 539 799 810 1,075 1,721 558 435 705 649 880 Other liabilities and accnt ed dividends 585 30 148 30 46 42 29 95 21 13 24 26 81 TOTAL LIABILITIES 91,560 4,597 22,475 4,693 6,847 6,879 5,364 15,193 3,509 2,063 3,904 4,404 11,632 ' CAPITAL ACCOUNTS Capital paid in 734 34 191 38 67 38 50 109 25 17 31 41 93 Surplus 702 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 254 12 66 14 21 19 12 42 8 4 10 11 35 TOTAL LIABILITIES AND 93,250 4,676 22,917 4,781 6,998 6,972 5,473 15,449 3,566 2,100 3,975 4,495 11,848 CAPITAL ACCOUNTS ; Contingent liability on ace: eptances purchased for foreig n correspondents 247 12 3/ 65 13 22 _13_ 16 37 8 6 10 14 31 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,057 13,271 3,127 4,499 4,803 2,748 9,542 2,110 939 2,076 2,224 6,754 Collateral for F. R. notes: Gold certificate account 200 500 300 500 530 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 3,120 13,500 3,300 4,600 4,905 2,900 9,750 2,185 960 2,125 2,285 7,000 1/ After deducting $ 88 million participations of other Federal Reserve Bahks. 2/ Includes IMF gold deposit. 3/ After deducting $182 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis