H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and ?&m?:-' Condition Statement of F.R. Banks H.4.1 For immediate release October 7, 1971 The average of daily figures for total reserves of member banks increased slightly in the latest statement week to $31,092 million. Excess reserves and member bank borrowings at the Federal Reserve Banks declined while required reserves increased. Increases in currency in circulation, Treasury deposits with Federal Reserve Banks and other Federal Reserve liabilities and capital were the major factors absorbing reserves in the latest statement week. These reserve drains were offset by System Open Market operations which supplied $691 million in reserves, on a weekly average basis, through outright pur chases of Treasury bills and repurchase agreements. Member bank borrowings averaged $310 million and exceeded excess reserves by $13 million compared to $73 million in the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 6, Sept. 29, Oct. 7, October 6, and related items 1971 1971 1970 1971 Reserve Bank credit: (Itl mi]. lions of dollars) U.S. Government securities- Bought outright—System account 67,566 + 547 +8,200 1/ 67,566 Held under repurchase agreements 371 + 108 + 193 318 Federal Agency obligations- Bought outright 91 + 39 + 91 96 Held under repurchase agreements 51 - 8 + 27 35 Acceptances- Bought outright 51 + 4 + 17 I 53 Held under repurchase agreements 40 + 1 + 25 35 Discounts and advances- Member bank borrowings 310 • 116 88 190 Other Float 2,787 - 97 + 206 2,815 Other F.R. assets 1,007 + 44 - 685 ! 1,046 Total Reserve Bank credit 72,273 + 520 +7,984 i 72,154 Gold stock 10,132 — - 985 10,132 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,536 - 6 + 474 1 7,521 90,341 + 514 +7,473 90,207 Currency in circulation 58,830 + 145 +4,007 59,178 Treasury cash holdings 467 - 6 + 10 469 Treasury deposits with F.R. Banks 2,148 + 139 +1,274 1,988 Foreign deposits with F.R. Banks 183 + 37 + 48 165 Other deposits with F.R. Banks 765 + 47 + 36 719 Other F.R. liabilities and capital 2,398 + 99 + 65 2,419 64,791 + 460 +5,440 64,938 Member bank reserves: With Federal Reserve Banks 25,551 + 55 +2,033 25,268 Currency and coin 5,541 - 45 + 273 5,541 Total reserves held 31,092 + 10 +2,306 30,809 Required reserves 30,795 + 66 +2,361 30,795 Excess reserves 297 - 56 55 14 NOTE: A net of $179 million of surplus reserves were eligible.to be carried forward from the week ended September 29, into the week ending October 6. On October 6, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $21,840 million, an increase of $517 million for the week. 1/ Includes $31 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 Oct. 6, Sept. 29, Oct. 7, 1971 1971 1970 A S S E TS Gold certificate account 9,875 — ^ - 944 Special Drawing Rights certif. accts. * 400 -- -. 309 + 4 +. 86 Cash (830) 190 - 192 - 112 Discounts and advances 53 + 3 + 17 Acceptances--Bought outright 35 - 6 + 35 Held under repurchase agreements 96 + 35 + 96 Federal Agency obligatons — Bought outright 35 - 3 + 35 Held under repurchase agreements U. S. Government securities: 29,584 + 241 +5,708 Bought outright—Bills Certificates 34,719 — +1,961 Notes 3,263 — '+ 531 Bonds 1/67,566 + 241 +8,200 Total bought outright 318 + 81 + 318 Held under repurchase agreements 67,884 + 322 +8318 Total U.S. Government securities 68,293 + 159 +8,589 Total loans and securities (2,812) 11,101 + 681 +1,182 Cash items in process of collection 149 + 1 + 26 Bank premises 897 + 50 - 703 Other assets 2] (3,642) 91,024 + 895 +8.236 TOTAL ASSETS kl h. 2. Ik II 111 Federal Reserve notes (830) 52,179 371 +3,712 Deposits: Member bank—reserves account 25,188 3 +1,755 U. S. Treasurer—general account 1,988 33 +1,328 Foreign 165 1 + 15 Other 3/ 719 + 77 + 21 Total deposits 28 ,060 - 30 +3,119 Deferred availability cash items (2,812) 8 ,366 + 452 +1,340 Other liabilities and accrued dividends 616 + 34 + 6 TOTAL LIABILITIES (3,642) 89,221 + 827 +8,177 £ A L I 1 L L A C C O U N TS Capital paid in 733 1 + 43 Surplus 702 -- + 33 Other capital accounts 368 69 - 17 Contingent liability on acceptances purchased for foreign correspondents 258 26 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $31 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, October 6, 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 Holdings Weekly Holdings Weekly changes Changes Within 15 days 189 48 4,160 ' -338 IT =^T 16 days to 90 days 1 40 18,029 +513 91 days to 1 year 16,043 +147 51 +11 Over 1 year to 5 years 23,325 — 20 - 1 Over 5 years to 10 years 5,411 — 18 +18 Over 10 years -- — 916 -- _7 ±J_ Total 190 88 67,884 +322 131 +32 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 OCTOBER 6, 1971 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dai llas Francisco (In millions of dollars) A S S E TS Gold certificate account 9,875 518 2,414 412 633 785 488 2,084 369 226 342 294 1,310 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 830 128 139 50 58 70 140 30 16 32 29 26 112 Other cash 309 9 30 11 28 36 40 41 18 7 28 18 43 Discounts and advances 190 53 29 4 3 3 10 81 * ^ 2 4 - Acceptances: Bought outright i 53 -- 53 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements 35 -- 35 -- -- — -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 96 5 24 5 7 7 5 16 4 2 4 4 13 Held under repurchase agreements 35 -- 35 -- - -- -- -- -- -- -- -- U.S. Government securities: Bought outright-- Bills \ 29,584 1,379 7,545 1,567 2,279 2,155 1,489 4,847 1,080 560 1,184 1 374 4,125 Certificates: Other — — -- — -- -- — -- -- -- -- -- -- Notes 1 34,719 1,618 8,855 1,838 2,674 2,529 1,748 5,688 1,268 657 1,390 1 ,613 4,841 Bonds 3,263 152 832 173 251 238 164 535 119 62 130 152 455 Total bought outright J7 67,566 3,149 17,232 3,578 5,204 4,922 3,401 11,070 2,467 1,279 2,704 T ,139 9,421 Held under repurchase agreements 318 -- 318 -- -- -- -- -- -- — -- -- — Total U.S. Government securities 67,884 3,149 17,550 3,578 5,204 4,922 3,401 11,070 2,467 1,279 2,704 ~ ,139 9,421 Total loans and securities 68,293 3,207 17,726 3,587 5,214 4,932 3,416 11,167 2,471 1,282 2,710 3 ,147 9,434 Cash items in process of collection 13,913 820 2,364 736 989 1,122 1,405 2,253 727 586 847 854 1,210 Bank premises 149 2 8 3 21 13 16 17 14 20 18 9 8 Other assets 2/ 897 55 329 49 55 52 37 113 25 14 29 33 106 TOTAL ASSETS 94,666 4,762 23,103 4,871 7,031 7,046 5,564 15,775 3,655 2,174 4,018 4 ,395 12,272 1/ Includes $31 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. *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 OCTOBER 6, 1971 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 53,009 2,869 12,894 3,045 4,326 4,664 2,582 9,269 2,018 894 1,976 2,080 6,392 Deposits: Member bank reserves 25,188 918 6,652 970 1,481 1,258 1,570 3,877 887 648 1,100 1,444 4,383 U. S. Treasurer—general account 1,988 142 617 117 149 68 79 301 50 91 120 81 173 Foreign 165 8 1/ 47 8 14 8 11 24 5 4 7 9 20 Other 719 1 2/ 661 1 -- 19 2 2.— 3 2 2 2 24 Total deposits 28,060 1,069 7,977 1,096 1,644 1,353 1,662 4,204 945 745 1,229 1,536 4,600 Deferred availability cash items 11,178 713 1,597 605 853 885 1,173 1,928 609 482 717 654 962 Other liabilities and accrued dividends 616 29 164 32 48 44 31 99 22 14 21 28 84 TOTAL LIABILITIES 92,863 4,6 80 22,632 4,778 6,871 6,946 5,448 15,500 3,594 2,135 3,943 4,298 12,038 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 368 16 95 19 30 26 19 61 12 6 14 17 53 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 94,666 4,762 23,103 4,871 7,031 7,046 5,564 15,775 3,655 2,174 4,018 4,395 12,272 Contingent liability on ace. eptances purchased for forei- gn correspondents 258 12 3/ 68 13 23 13 17 39 9 6 11 14 33 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 55,139 3,012 13,320 3,108 4,495 4,786 2,747 9,521 2,101 927 2,064 2,221 6,837 Collateral for F. R. notes: Gold certificate account 3,145 200 500 300 500 485 1,000 155 5 U. S. Government securities 53,480 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 56,625 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 $ 118 million participations of other Federal Reserve Banks. 7/ Includes IMF gold deposit. V After deducting $ 190 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis