H.4.1 Factors Affecting Reserve Balances of Depository Institutions

o* Gov c FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For Immediate release September 2, 1971 The average of daily figures for total reserves of member banks increased $402 million in the latest statement week to $30,531 million. Required reserves and excess reserves increased while member bank borrowings at Federal Reserve Banks declined, A seasonal decline in float was the major factor absorbing reserves in the latest statement week. Partially offsetting this reserve drain was a decline in currency in circulation. In addition, System Open Market operations provided $446 million of reserves net, on a weekly average basis, primarily through outright purchases of Treasury bills. Some repurchase agreements were also made near the end of the week. Member bank borrowings declined to an average level of $708 million and exceeded excess reserves by $363 million compared to $662 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Sept. 1, Aug. 25, Sept. 2, Sept. 1, and related items 1971 1971 1970 1971 (In millions of dollars) Reserve Bank credit: U.S. Government securities- Bought outright—System account 66,635 + 282 +6,925 1/ 66,635 Held under repurchase agreements 117 + 117 - 16 585 Special Certificates Federal Agency obligations — Held under repurchase agreements 27 27 14 1.17 Acceptances — Bought outright 53 + 17 52 Held under repurchase agreements 20 20 + 7 86 Discounts and advances- Member bank borrowings 708 63 48 989 Other Float 2,456 2,314 Other F.R. assets 776 828 Total Reserve Bank credit 70,791 + 118 +6,832 I 71,606 Gold Stock 10,132 — -1,235 10,132 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 7,476 + 11 4- 444 | 7,490 89,628 Currency in circulation 58,710 - 165 +4,037 I 58,920 Treasury cash holdings 475 4 + 14 471 Treasury deposits with F.R. Banks 1,213 + 60 + 172 1,194 Foreign deposits with F.R. Banks 194 + 10 + 34 . 142 Other deposits with F.R. Banks 691 + 10 - 70 682 Other F.R. liabilities and capital 2,324 + 71 + 13 | 2,374 63,783 Member bank reserves: With Federal Reserve Banks 25,192 + 148 +1,841 I 25,845 Currency and coin 5,339 + 254 + 320 5,339 Total reserves held 30,531 + 402 +2,161 31,184 Required reserves 30,186 + 166 +1,994 30,186 Excess reserves 345 + 236 + 167 | 998 NOTE: A net of $66 million of surplus reserves were eligible to be carried forward from the week ended August 25, into the week ending September 1. On September 1, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $20,346 million, an increase of $341 million for the week. 1/ Includes $66 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 Sept. 1, Aug. 28, Sept. 2, 1971 1971 1970 A S S E TS Gold certificate account 9,875 -1,170 Special Drawing Rights certif, accts. 400 Cash (944) 282 + 8 + 69 Discounts and advances 989 - 812 + 146 Acceptances: Bought outright 52 + 13 Held under repurchase agreements 86 + 86 + 55 Federal Agency obligations-- Held under repurchase agreements 117 + 117 + 95 U. S. Government securities : Bought outright-- Bills 28,937 + 229 +4,303 Certificates Notes 34,513 +1,913 Bonds 3,185 + 478 Total bought outright 1/ 66,635 + 229 +6,694 Held under repurchase agreements ~ 585 + 585 + 253 Total U. S. Government securities 67,220 + 814 +6,947 Total loans and securities 68,464 + 205 +7,256 Cash items in process of collection (2,972) 10,132 + 218 + 451 Bank premises 145 1 + 23 Other assets 2J 683 + 57 - 321 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,916) + 487 +6,308 89,981 k1Allh11111 Federal Reserve notes (944) 51,926 33 +3,747 Deposits: Member bank reserves 25,765 + 99 +1,929 U. S. Treasurer"general account 1,194 - 181 + 227 Foreign 142 + 7 9 Other 3/ 682 - 7 75 Total deposits 27,783 - 82 +2,072 Deferred availability cash items (2,972) 7,898 + 437 + 473 Other liabilities and accrued dividends 619 + 34 36 TOTAL LIABILITIES (3,916) 88,226 + 422 +6,256 C A P I T AL A C C O U N TS Capital paid in 733 1 + 44 Surplus 702 -- + 33 Other capital accounts 320 - 66 25 Concingent liability on acceptances purchased 245 2 5 for foreign correspondents * Figures in parentheses are the eliminations made in the consolidating process, 1/ Includes $66 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. 37 Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 1, 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 advanei 58 Acceptances Holdings Weekly changes Within 15 days 988 —fr— 4,157 + 44 16 days to 90 days 1 41 18,294 +860 91 days to 1 year »_ -- 15,368 + 27 Over 1 year to 5 year •s s -- 23,240 _- Over 5 years to 10 ye»aarrss -_ 5,377 -- Over 10 years -- — 901 -- Total 989 138 67,337 +931 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 SEPTEMBER 1, 1971 —^—• in 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 Gold certificate account 9,875 I 534 1,433 619 928 867 571 1,819 348 40 361 399 :L ,956 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 944 [ 114 199 59 73 83 168 37 29 39 29 29 85 Other cash J 282 ! 8 25 10 24 36 34 42 16 6 27 18 36 Discounts and advances 989 104 386 59 13 42 90 243 6 2 2 31 11 Acceptances: Bought outright 52 52 Held under repurchase agreements ! 86 86 Federal Agency obligations— Held under repurchase agreements 117 117 U. S. Government securities: Bought outright— Bills 1,348 7,441 1,494 2,234 2,082 1,439 4,752 1,056 587 1,144 ]L ,314 4,046 28,937 Certificates Notes 34,513 1,607 8,875 1,782 2,665 2,483 1,716 5,668 1,259 700 1,364 1L ,568 4,826 Bonds 3,185 148 819 165 246 229 158 523 116 65 126 145 445 Total bought outright JL/ 66,635 3,103 L7,135 3,441 5,145 4,794 3,313 10,943 2,431 1,352 2,634 3,027 9,317 Held under repurchase agreements 585 ' 585 Total U. S. Government securities 167,220 !3,103 L7.720 3,441 5,145 4,794 3,313 10,943 2,431 1,352 2,634 3,027 <? ,317 Total loans and securities 68,464 3,207 L8,361 3,500 5,158 4,836 3,403 11,186 2,437 1,354 2,636 3,058 9,328 Cash items in process of collection [13,104 793 2,049 716 1,010 1,037 1,292 2,193 725 521 826 812 L,130 Bank premises 145 2 8 3 19 13 16 17 14 18 18 9 8 Other assets 2/ 683 42 274 36 36 37 23 77 17 11 21 33 76 TOTAL ASSETS 93,897 4,723 :2 2,442 4,966 7,281 6,945 5,529 15,441 3,601 1,996 3,933 4,372 12,668 1/ Includes $66 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 SEPTEMBER 1, 1971 1 i • _ "' 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 52,870 2,885 12,821 3,038 4,308 4,651 2,555 9,243 2,017 897 1,973 2,079 6,403 Deposits: Member bank reserves 25,765 917 6,579 1,086 1,774 1,246 1,632 3,790 831 527 1,063 1,451 4,869 U. S. Treasurer—general account 1,194 92 147 115 129 48 110 160 67 74 88 75 89 Foreign 142 6 1/ 47 7 12 7 9 19 4 3 5 7 16 Other 682 1 2/626 2 17 2 3 1 2 3 3 22 Total deposits 27,783 1,016 7,399 1,210 1,915 1,318 1,753 3,972 903 606 1,159 1,536 4,996 Deferred availability cash items 10,870 712 1,598 596 855 834 1,080 1,860 600 441 703 636 955 Other liabilities and accnt ed dividends 619 29 165 30 47 45 29 98 22 14 25 27 88 TOTAL LIABILITIES 92,142 4,642 21,983 4,874 7,125 6,848 5,417 15,173 3,542 1,958 3,860 4,278 12,442 CAPITAL ACCOUNTS Capital paid in 733 33 191 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 320 15 83 18 26 23 15 54 10 5 12 14 45 TOTAL LIABILITIES AND 93,897 4,723 22,442 4,966 7,281 6,945 5,529 15,441 3,601 1,996 3,933 4,372 12,668 CAPITAL ACCOUNTS Contingent liability on ace. eptances purchased for forei. gn 245 12 3/ 65 12 22 12 16 37 8 6 10 14 31 correspondents FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,042 13,294 3,120 4,504 4,799 2,734 9,527 2,114 938 2,075 2,214 6,778 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 \_f After deducting $ 95 million participations of other Federal Reserve Bahks. 2/ Includes IMF gold deposit. 3/ After deducting $180 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis