H.4.1 Factors Affecting Reserve Balances of Depository Institutions

-•«ol£2ys» FEDERAL RESERVE Factors Affecting Bank Reserves and -?$£&*:-- Condition Statement of F.R. Banks H.4.1 For immediate release September 30, 1971 The average of daily figures for total reserves of member banks increased $446 million in the latest statement week to $31,082 million. Required reserves, excess reserves and member bank borrowings at the Federal Reserve Banks all increased. The major factors absorbing reserves in the latest statement week were a seasonal decline in float and an increase in Treasury deposits with the Federal Reserve Banks. Partially offsetting these reserve drains was a decline in currency in circulation. In addition System Open Market operations provided $742 million of reserves net, on a weekly average basis. Early in the statement week the System purchased Federal Agency obligations for the first time. Member bank borrowings averaged $426 million and exceeded excess reserves by $73 million compared to $101 million in the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday , Reserve Bank credit, Sept. 29, Sept. 22, Sept. 30, Sept. 29, and related items 1971 1971 1970 1971 Reserve Bank credit: (In millions of dollars) U.S. Government securities- Bought outright--System account 67,019 + 332 +7,488 1/67,325 Held under repurchase agreements 263 + 263 + 67 237 Federal Agency obligations- Bought outright 52 + 52 + 52 61 Held under repurchase agreements 59 + 59 + 10 38 Acceptances- Bought outright 47 3 + 11 50 Held under repurchase agreements 39 + 39 + 15 41 Discounts and advances- Member bank borrowings 426 98 235 382 Other Float 2,884 - 731 + 319 2,579 Other F.R. assets 963 + 40 - 349 995 Total Reserve Bank credit 71,753 + 150 +7,381 71,708 Gold stock 10,132 -- - 985 10,132 Special Drawing Rights certif. acct. 400 — -- 400 Treasury currency outstanding 7,542 + 10 + 485 7,547 89,827 + 160 +6,880 89,787 Currency in circulation 58,685 - 307 +4,054 58,832 Treasury cash holdings 473 + 3 + 25 475 Treasury deposits with F.R. Banks 2,009 + 249 + 919 2,021 Foreign deposits with F.R. Banks 146 - 4 + 21 166 Other deposits with F.R. Banks 718 + 14 + 23 712 Other F.R. liabilities and capital 2,299 + 65 + 41 2,317 64,331 + 21 +5,085 64,523 Member bank reserves: With Federal Reserve Banks 25,496 + 139 +1,796 25,264 Currency and coin 5,586 + 307 + 252 5,586 Total reserves held 31,082 + 446 +2,048 30,850 Required reserves 30,729 + 320 +1,967 30,729 Excess reserves 353 + 126 + 81 121 NOTE: A net of $4 million of surplus i res were eligib le to be carried for ward from the week ended September 22, into the week ending September 29. On September 29, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $21,323 ni11ion, a decrease of $104 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 Sept. 29, Sept . 22, Sept. 30, 1971 1971 1970 A S S E TS Gold certificate account 9,875 • 944 * 400 — -- Special Drawing Rights certif. accts. Cash (1,040) 305 + 6 + 84 Discounts and advances 382 - 559 - 470 Acceptances: Bought outright 50 + 2 + 14 Held under repurchase agreements 41 + 41 10 Federal Agency obligations: Bought outright 61 + 61 + 61 Held under repurchase agreements 38 + 38 - 42 U. S. Government securities: Bought outright— Bills 29,343 + 560 +5,233 Certificates - Other Notes 34,719 + 136 +1,961 Bonds 3,263 + 42 + 531 Total bought outright 1/ 67,325 + 738 +7,725 Held under repurchase agreements 237 + 237 - 138 Total U.S. Government securities 67,562 + 975 +7,587 Total loans and securities 68,134 + 558 +7,140 Cash items in process of collection (3,187) 10,413 -1,130 +1,180 Bank premises 148 -- + 26 Other assets 2/ 847 + 34 - 709 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCTS. (4,227) 90,122 ^_532 +6,777 Federal Reserve notes (1,040) 51,808 115 +3,721 Deposits: Member bank--reserves account 25,184 - 63 +1,246 U. S. Treasurer--general account 2,021 + 82 + 783 Foreign 166 + 20 + 30 Other 3/ (9) 712 + 22 13 Total deposits (9) 28,083 + 61 +2,046 Deferred availability cash items ,178) 7,914 - 544 + 994 Other liabilities and accrued dividends 582 + 2 - 44 TOTAL LIABILITIES ,227) 88,387 — 596 +6,717 £ A £ JC T A L A C C O U N TS Capital paid in 734 mt mt + 43 Surplus 702 — + 33 Other capital accounts 299 u 64 16 Contingent liability on acceptances purchased for foreign correspondents 260 25 Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $22 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 29. 1971 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts Accept U. S. Government Federal Agency and -ances securities obligations Advances Weekly Weekly Holdings Holdings changes changes Within 15 days 380 53 4,498 +289 38 +38 16 days to 90 days 2 38 17,516 + 5 — -- 91 days to 1 year — — 15,896 +541 40 +40 Over 1 year to 5 years -- — 23,325 +107 21 +21 Over 5 years to 10 years — -- 5,411 + 23 — -- Over 10 years — — 916 + 10 ~ -- Total 382 91 67,562 +975 99 +99 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 29, 1971 New Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Dallas York delphia land mond Louis apolis City Francisco (In millions of dol.]a rs) A S S E TS Gold certificate account 9,875 487 2,832 526 781 884 520 1,736 311 155 343 517 783 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 1,040 131 212 65 66 84 165 46 26 39 31 32 143 Other cash 305 9 30 11 27 36 40 41 17 7 27 18 42 Discounts and advances 382 26 89 37 3 23 65 100 10 .L 7 -- 21 Acceptances: Bought outright 50 -- 50 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements 41 -- 41 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 61 3 16 3 5 4 3 10 2 1 2 3 9 Held under repurchase agreements I 38 -- 38 -- -- — -- -- -- -- U.S. Government securities: Bought outright-- Bills 1 29,343 1,367 7,546 1,515 2,266 2,111 1,459 4,818 1,070 595 1,160 1 ,333 4,103 Certificates: Other Notes 34,719 1,617 8,928 1,793 2,680 2,498 1,726 5,702 1,267 705 1,372 1 ,577 4,854 Bonds 3,263 152 839 169 252 235 162 536 119 66 129 148 456 Total bought outright \l 67,325 3,136 17,313 3,477 5,198 4,844 3,347 11,056 2,456 1,366 2,661 ~ ,058 9,413 Held under repurchase agreements 237 -- 237 -- -- -- -- -- -- -- -- -- -- Total U.S. Government securities 67,562 3,136 17,550 3,477 5,198 4,844 3,347 11,056 2,456 1,366 2,661 ~J ,058 9,413 Total loans and securities 68,134 3,165 17,784 3,517 5,206 4,871 3,415 11,166 2,468 1,368 2,670 3 ,061 9,443 Cash items in process of collection 13,600 782 2,252 713 939 1,048 1,323 2,274 709 567 921 872 1,200 Bank premises 148 2 8 3 21 13 16 17 14 19 18 9 8 Other assets If 847 53 318 42 51 47 33 105 23 12 26 30 107 TOTAL ASSETS 94,349 4,652 23,529 4,900 7,124 7,019 5,534 15,455 3,583 2,174 4,051 4 ,553 11,775 JL/ 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 SEPTEMBER 29,1971 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 52,848 2,867 12,899 3,036 4,315 4,653 2,547 9,239 2,005 892 1,968 2,072 6,355 Deposits: Member bank reserves 25,184 841 7,227 1,019 1,641 1,238 1,572 3,725 836 650 1,066 1,522 3,847 U. S. Treasurer—general account 2,021 142 492 125 118 114 149 167 73 101 153 158 229 Foreign 166 6 1/ 67 7 12 7 9 20 4 3 6 8 17 Other 721 2 2/623 1 19 12 33 3 1 2 2 23 Total deposits 28,092 991 8,409 1,152 1,771 1,378 1,742 3,945 916 755 1,227 1,690 4,116 Deferred availability cash items 11,092 686 1,616 595 838 851 1,103 1,913 583 475 762 671 999 Other liabilities and accril ed dividends 582 28 151 27 46 42 29 95 21 14 22 27 80 TOTAL LIABILITIES 92,614 4,572 23,075 4,810 6,970 6,924 5,421 15,192 3,525 2,136 3,979 4,460 11,550 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 299 13 78 16 24 21 16 49 9 5 11 ,13 44 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 94,349 4,652 23,529 4,900 7,124 7,019 5,534 15,455 3,583 2,174 4,051 4,553 11,775 Contingent liability on ace. eptances purchased for forei gn correspondents 260 12 3/ 68 13 23 13 18 39 9 6 11 15 33 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 3,028 13,323 3,110 4,490 4,803 2,750 9,533 2,108 929 2,065 2,233 6,840 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. 3/ After deducting $192 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis