H.4.1 Factors Affecting Reserve Balances of Depository Institutions

or cow FEDERAL RESERVE Factors Affecting Bank Reserves and ''•f*4LRES*V Condition Statement of F.R. Banks H.4.1 For immediate release September 23, 1971 The average of daily figures for total reserves of member banks declined $245 million in the latest statement week to $30,636 million. Required reserves, excess reserves and member bank borrowings at the Federal Reserve Banks all declined. The major factors supplying reserves in the latest statement week were a seasonal increase in float and a seasonal decline in currency in circulation. The only factor absorbing a significant amount of reserves was an increase in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations drained $447 million reserves net, on a weekly average basis. Member bank borrowings declined to an average level of $328 million and exceeded excess reserves by $101 million compared to $191 million in the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. 22 Sept. 15, Sept. 23, Sept. 22, and related items 122L 1971 197Q 122J Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 66,687 + 91 +7,378 1/66,587 Held under repurchase agreements - 411 Federal Agency obligations— Held under repurchase agreements 75 Acceptances Bought outright 50 1 11 48 Held under repurchase agreements 51 Discounts and advances-- Member bank borrowings 328 129 132 941 Other Float 3,615 + 660 + 221 3,021 Other F. R. assets 923 + 29 - 292 961 Total Reserve Bank credit 71,603 + 113 +7,187 71,558 Gold stock 10,132 -- -1,199 10,132 Special Drawing Rights certif. acct. 400 — -- 400 Treasury currency outstanding 7,532 + 10 + 482 7,539 89,667 + 122 +6,470 89,629 Currency in circulation 58,992 - 362 +4,128 58,940 Treasury cash holdings 470 + 12 + 19 480 Treasury deposits with F. R. Banks 1,760 + 372 + 643 1,939 Foreign deposits with F. R. Banks 150 + 11 + 21 146 Other deposits with F. R. Banks 704 - 4 - 56 690 Other F. R. liabilities and capital 2,234 + 8 + 43 2,251 64,310 + 36 +4,798 64,446 Member bank reserves: With Federal Reserve Banks 25,357 + 86 +1,671 25,183 Currency and coin 5,279 - 331 + 571 5,279 Total reserves held 30,636 - 245 +2,242 30,462 Required reserves 30,409 - 206 +1,968 30,409 Excess reserves 227 - 39 + 274 53 NOTE: A net of $174 million of surplus reserves were eligible to be carried forward from the week ended September 15, into the week ending September 22. On September 22, 19 71, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $21,427 million, an increase of $119 million for the week. 1_/ Includes $23 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. 22, Sept. 15, Sept. 23, 1971 1971 1970 A S S E TS Gold certificate account 9,875 944 Special Drawing Rights certif. accts. 400 Cash (959) 299 + 14 + 82 Discounts and advances 941 4- 592 432 Acceptances: Bought outright 48 12 Held under repurchase agreements Federal Agency obligations-- Held under repurchase agreements U. S. Government securities : Bought outright-- Bills 28,783 + 861 +4,494 Certificates Notes 34,583 -- +1,893 Bonds 3,221 -- + 506 Total bought outright 1/ 66,587 + 861 +6,893 Held under repurchase agreements -- -- -- Total U. S. Government securities 66,587 + 861 +6,§93 Total loans and securities 67,576 +1 ,451 +6,473 Cash items in process of collection (3,293) 11,399 - 990 + 820 Bank premises 148 -- + 26 Other assets 2/ 813 + 13 - 303 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (4,252) 90,510 + 488 +6,154 L 1 A 1Ik 11Ik £ Federal Reserve notes (959) 51,923 374 +3,795 Deposits: Member bank reserves 25,103 +1 ,104 + 661 U. S. Treasurer—general account 1,939 + 553 + 907 Foreign 146 + 7 + 8 Other 3/ 690 - 77 - 35 Total deposits 27,878 +1 ,587 +1 ,541 Deferred availability cash items (3,293) 8,458 - 766 + 783 Other liabilities and accrued dividends 580 - 25 - 31 TOTAL LIABILITIES (4,252) 88,839 + 422 +6 ,088 £ A I I 1 h. L A C C O U N TS Capital paid in 734 .. + 44 Surplus 702 -- + 33 Other capital accounts 235 - 66 - 11 Contingent liability on acceptances purchased for foreign correspondents 261 6 + 27 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $23 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, SEPTEMBER 22, 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 939 14 4,209 +1,131 16 days to 90 days 2 34 17,511 - 139 91 days to 1 year -- -- 15,355 - 130 Over 1 year to 5 yearss _- 23,218 1 Over 5 years to 10 jars -- 5,388 -- Over 10 years — — 906 -- Total 941 48 66,587 861 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 22, 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 9,875 456 1,247 737 795 1,074 551 2,051 482 133 415 490 1,444 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F. R. notes of other banks 959 122 156 67 62 89 162 41 25 35 32 31 137 Other cash 299 9 29 10 26 35 38 42 17 7 27 17 42 Discounts and advances 941 19 437 37 16 41 23 301 1 2 10 36 18 Acceptances: Bought outright 48 48 Held under repurchase agreements — — — — — — — — — -- — Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outright— Bills 28,783 1,340 7,402 1,487 2,222 2,070 1,431 4,727 1,050 584 1,138 1,308 4,024 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 3,221 150 828 166 249 232 160 529 118 65 127 146 451 Total bought outright J7 66,587 3,101 17,123 3,439 5,141 4,790 3,310 10,935 2,430 1,351 2,632 3,025 9,310 Held under repurchase agreements — -- — -- -- — -- — -- -- -- -- — Total U. S. Government securities 66,587 3,101 17,123 3,439 5,141 4,790 3,310 10,935 2,430 1,351 2,632 3,025 9,310 Total loans and securities 67,576 l: 3,120 17,608 3,476 5,157 4,831 3,333 11,236 2,431 1,353 2,642 3,061 9,328 Cash items in process of collection 14,692 859 2,456 756 1,084 1,143 1,518 2,431 758 605 966 883 1,233 Bank premises 148 2 8 3 21 13 16 17 14 19 18 9 8 Other assets 2/ 813 49 305 36 48 47 32 98 21 12 24 28 113 TOTAL ASSETS j 94,762 4,640 21,902 5,108 7,226 7,268 5,672 15,986 3,763 2,171 4,139 4,533 12,354 1/ Includes $23 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 SEPTEMBER 22, 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 52,882 2,880 12,849 3,044 4,322 4,648 2,552 9,261 2,009 895 1,975 2,081 6,366 Deposits: Member bank reserves 25,103 795 5,874 1,153 1,629 1,406 1,560 4,135 925 654 1,134 1,461 4,377 U. S. Treasurer—general account 1,939 101 342 174 124 128 140 186 117 70 130 147 280 Foreign 146 6 1/ 47 7 12 7 9 20 5 3 6 7 17 690 1 2/634 1 -- 20 3 3 2 -- - 2 4 20 Other Total deposits 27,878 903 6,897 1,335 1,765 1,561 1,712 4,344 1,049 727 1,272 1,1619 4,694 Deferred availability cash items 11,751 752 1,572 613 944 927 1,266 2,034 628 499 800 716 1,000 Other liabilities and accrued dividends 580 28 148 29 46 41 32 95 21 13 22 26 79 TOTAL LIABILITIES 93,091 4,563 21,466 5,021 7,077 7,177 5,562 15,734 3,707 2,134 4,069 4,442 12,139 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 235 10 60 13 19 17 13 38 7 4 9 11 34 TOTAL LIABILITIES AND 94,762 4,640 21,902 5,108 7,226 7,268 5,672 15,986 3,763 2,171 4,139 4,533 12,354 CAPITAL ACCOUNTS Contingent liability on ace: eptances purchased for forei gn correspondents 261 12 _2/_69__. 13 24 13 17 39 _ 9_ 6 11^ 15 33 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,039 13,325—TTnS 4^91 47515 T^iW 9,546 2,109 ~93~4" 2,073 2,224 "6752T Collateral for F. R. notes: Gold certificate account 200 500 300 500 485 1,000 155 5 U. S. Government securities 2,920 13.000 3.000 4.100 4.415 2,900 8.750 2.030 960 2,125 2,280 7,000 Total collateral 3,120 13,500 3,300 4,600 4,900 2,900 9,750 2,185 960 2,125 2,285 7,000 1/ After deducting $ 99 million participations of other Federal Reserve Bahks. 2/ Includes IMF gold deposit. Digitized for FRASER 37 After deducting $192 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis