H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release September 16, 1971 The average of daily figures for total reserves of member banks increased $12 million in the latest statement week to $30,881 million. Required reserves and member bank borrowings at Federal Reserve Banks declined while excess reserves increased. A seasonal increase in float and a decline in other Federal Reserve liabilities and capital were the major factors supplying reserves in the latest statement week. These reserve gains were in part offset by a rise in currency in circulation. In addition, System Open Market operations drained $79 million reserves net, on a weekly average basis, primarily through matched sale-purchase transactions. Member bank borrowings were below the average of recent weeks and exceeded excess reserves by $191 million compared to $541 million in the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. 15, Sept. 8, Sept. 16, Sept. 15, and related items 1971 1971 1970 1971 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright--System account 66,596 130 +6,929 1/2/65,726 Held under repurchase agreements 411 + 76 95 Federal Agency obligations— Held under repurchase agreements 75 20 37 Acceptances Bought outright 51 2 + 12 50 Held under repurchase agreements 51 3 + 11 Discounts and advances-- Member bank borrowings 457 308 43 349 Other Float 2,955 + 344 + 111 3,311 Other F. R. assets 894 + 77 - 312 948 Total Reserve Bank credit 71,490 + 34 +6,650 70,384 Gold stock 10,132 — -1,235 10,132 Special Drawing Rights certif. acct. 400 — -- 400 Treasury currency outstanding 7,522 4- 28 + 474 7,528 89,545 -|_ 63 +5,890 88,444 Currency in circulation 59,354 + 291 +4,109 59,332 Treasury cash holdings 458 - 6 4 465 Treasury deposits with F. R. Banks 1,388 + 70 + 408 1,386 Foreign deposits with F. R. Banks 139 - 26 11 139 Other deposits with F. R. Banks 708 - 3 60 767 Other F. R. liabilities and capital 2,226 - 176 - 117 2,210 64,274 + 150 +4,327 64,299 Member bank reserves: With Federal Reserve Banks 25,271 - 87 +1,563 24,145 Currency and coin 5,610 + 99 + 397 5,610 Total reserves held 30,881 + 12 +1,960 29,755 Required reserves 30,615 - 30 +2,050 30,615 Excess reserves 266 + 42 - 90 - 860 NOTE: A net of $120 million of surplus reserves were eligible to be carried forward from the week ended September 8, into the week ending September 15. On September 15, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $21 308 million, an increase of $275 million for the week. ' 1/ Excludes $1,015 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $38 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. 15, Sept. 8, Sept. 16 1971 1971 1970 A S S E TS Gold certificate account 9,875 -1,170 Special Drawing Rights certif. accts. 400 Cash (887) 285 + 7 + 74 Discounts and advances 349 + 11 4- 139 Acceptances: Bought outright 50 2 -*- 11 Held under repurchase agreements 83 Federal Agency obligations-- Held under repurchase agreements 188 U. S. Government securities : Bought outright— Bills 27,922 •1,015 44,293 Certificates Notes 34,583 +1,893 Bonds 3,221 + 506 Total bought outright 1/ 2/ 65,726 -1, 015 +6,692 Held under repurchase agreements - 554 Total U. S. Government securities 65,726 -1, 569 +6,692 Total loans and securities 66,125 -1, 831 +6,842 Cash items in process of collection (3,264) 12,455 +2, 455 + 407 Bank premises 148 + 1 + 26 Other assets 3/ 800 + 90 - 371 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (4,151) 90,088 + 722 +5,808 ; L I A B I L I T I ES Federal Reserve notes (887) 52,297 175 +3,798 Deposits: Member bank reserves 24,065 877 +1,220 U. S. Treasurer—general account 1,386 201 + 390 Foreign 139 13 + 13 Other 4/ 767 34 + 10 Total deposits 26,357 - 655 +1,633 Deferred availability cash items (3,264) 9,224 +1,769 + 319 Other liabilities and accrued dividends 605 2 - 9 TOTAL LIABILITIES z (4,151) 88,483 + 937 +5,741 C A P I T AL A C C O U N TS Capital paid in 734 + 44 Surplus 702 + 33 Other capital accounts 169 215 - 10 Contingent liability on acceptances purchased for foreign correspondents 267 - 2 + 28 * Figures in parentheses are the eliminations made in the consolidating proecs s. 1/ Excludes $1,015 million of securities sold, and scheduled to be bought bakc, under matched sale-purchase transactions. 2/ Includes $38 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies and IMF gold deposited. 4/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 15, 1971 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with makimum maturity of the agreements.) U. S. Government securities and Discounts and Federal Agency obligations advances Acceptances Holdings Weekly changes Within 15 days 348 14 3,078 -1,239 16 days to 90 days 1 36 17,650 - 552 91 days to 1 year 15,485 + 138 Over 1 year to 5 years 23,219 - 104 Over 5 years to 10 years 5,388 -- Over 10 years 906 — Total 349 50 65,726 -1,757 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 15, 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) A S S E TS ! Gold certificate account 9,875 428 2,705 743 894 883 526 1,950 390 107 359 352 538 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks I 887 i 1U 196 53 59 77 148 36 20 31 30 26 100 Other cash 285 ! 9 28 10 23 35 34 41 17 7 27 16 38 Discounts and advances 349 ; 52 78 68 2 6 35 69 * 3 36 -- Acceptances: Bought outright 50 i 50 -- -- -- -- — -- -- -- -- -- Held under repurchase agreements -- -" -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations— Held under repurchase agreements -- -- —— -- -- -- U. S. Government securities: Bought outright— Bills 27,922 \ 1,300 7,181 1,442 2,155 2,008 1,389 4,585 1,018 567 1,104 1, 269 3,904 Certificates — — -- -- -- -- -- -- -- -- -- -- -- Notes 34,583 1,611 8,893 1,786 2,670 2,488 1,719 5,679 1,262 702 1,367 1, 571 4,835 Bonds yy 3,221 150 828 166 249 232 160 529 118 65 127 146 451 Total bought outright 1 65,726 3,061 16,902 3,394 5,074 4,728 3,268 10,793 2,398 1,334 2,598 1 ,986 9,190 Held under repurchase agreements --' -- -- — -- -- -- — -- — — -- — Total U. S. Government securities 65,726 3,061 16,902 3,394 5,074 4,728 3,268 10,793 2,398 1,334 2,598 2",9 86 9,190 Total loans and securities 66,125 3,113 17,030 3,462 5,076 4,734 3,303 10,862 2,398 1,334 2,601 3, 022 9,190 Cash items in process of collection 15,719 954 2,435 801 1,223 1,245 1,597 2,605 838 638 937 982 1,464 Bank premises 148 2 8 3 21 13 16 17 14 19 18 9 8 Other assets 3/ 800 48 293 36 44 43 30 94 20 12 21 28 131 TOTAL ASSETS 94,239 4,688 22,788 5,131 7,373 7,066 5,676 15,675 3,712 2,155 4,008 4 ,449 11,518 1/ Includes $1,015 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. "ll Includes $38 million securities loaned-fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3*/ Includes assets denominated in foreign currencies and IMF gold Deposited. *Less than $500,000, 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 15, 1971 i • ii i 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 53,184 2,895 12,898 3,057 4,336 4,669 2,575 9,300 2,022 899 1,988 2,094 6,451 Deposits: Member bank reserves 24,065 801 6,663 1,124 1,675 1,185 1,558 3,632 842 610 1,073 1,389 3,513 U. S. Treasurer--general account 1,386 93 269 172 130 43 84 202 58 68 61 95 111 Foreign 139 6 1/ 39 7 12 7 9 20 5 3 6 8 17 Other 767 3 2/ 707 3 1 20 3 3 >v 1 3 2 21 Total deposits 26,357 903 7,678 1,306 1,818 1,255 1,654 3,857 905 682 1,143 1,494 3,662 Deferred availability cash, items 12,488 787 1,643 656 1,029 1,014 1,310 2,182 710 523 786 747 1,101 Other liabilities and accrued dividends 605 29 150 2Q 46 U-) ™ QS 91 1^ '4 9fi Q8 TOTAL LIABILITIES 92,634 4,614 22,369 5,048 7,229 6,980 5,569 15,434 3,658 2,119 3,941 4,361 11,312 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 169 7 43 9 14 12 10 27 5 3 6 8 25 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 94,239 4,688 22,788 5,131 7,373 7,066 5,676 15,675 3.712 2.155 4.008 4.449 11.518 Contingent liability on accept ances purchased for foreign correspondents 267 12 3/ 70 14 24 14 18 40 9 6 11 15 34 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,036 13,309 3,127 4,514 4,798 2,756 9,598 2,119 939 2,078 2,235 6,823 Collateral for F. R. notes: Gold certificate account 200 500 300 500 485 1,000 155 5 U. S. Government securities 2,920 13,QQQ 3.QQQ VQQ 4>375 2,900 8.750 2.030 -260 2.125 2 28Q 7 0Q0 r r Total collateral 3,120 13,500 3,300 4,600 4,860 2,900 9,750 2,185 960 2,125 2,285 7,000 1/ After deducting $ 100 million participations of other Federal Reserve Bahks. 2/ Includes IMF gold deposit. Less than $500,000. 3/ After deducting $ 197 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis