H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.•:&£££&: FEDERAL RESERVE T*-. Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release October 14, 1971 The average of daily figures for total reserves of member banks declined in the latest statement week to $30,766 million. Required reserves and excess reserves declined while member bank borrowings at the Federal Reserve Banks increased. Several factors supplied a modest amount of reserves in this latest statement week. A seasonal rise in currency in circulation, however, more than offset these reserve gains. In addition, System Open Market operations absorbed $357 million of reserves net, on a weekly average basis. Most of this absorption was through the maturing of repurchase agreements made in the previous week. Member bank borrowings averaged $450 million and exceeded excess reserves by $349 million compared to $13 million in the previous week. Averages of daily fi gur• es Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 13, Oct. 6, |O ct. 14, Oct. 13, and related items 1971 1971 | 1970 1971 Reserve Bank credit: (IrI mil lions of dollars) 1/ U.S. Government securities- Bought outright—System account 67,566 -- +8,, 200 67,566 Held under repurchase agreements 72 - 299 - 50 504 Federal Agency obligations- Bought outright 96 + 5 + 96 96 Held under repurchase agreements 14 - 37 - 14 98 Acceptances- Bought outright 54 + 3 + 17 53 Held under repurchase agreements 11 - 29 + 4 75 Discounts and .advances- Member bank borrowings 450 + 140 — 1,033 Other Float 2,863 + 76 + 103 2,616 Other F.R. assets 1,071 + 64 - 663 1,109 Total Reserve Bank credit 72,197 - 76 +7,, 693 73,150 Gold stock 10,132 — - 985 10,132 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 7,525 - 11 + 459 7,544 90,254 - 87 +7 ,167 91,226 Currency in circulation 59,316 + 486 +4, 116 59,584 Treasury cash holdings 459 - 8 - 2 464 Treasury deposits with F.R. Banks 2,093 - 55 +1, 056 2,141 Foreign deposits with F.R. Banks 134 - 49 - 5 146 Other deposits with F.R. Banks 763 - 2 - 46 736 Other F.R. liabilities and capital 2,379 - 19 + 85 2,233 65,144 + 353 +5, 204 65,304 Member bank reserves: With Federal Reserve Banks 25,111 _ 440 +1, 963 25,922 Currency and coin 5,655 + 114 + 339 5,655 Total reserves held 30,766 - 326 +2 ,302 31,577 Required reserves 30,665 - 130 +2 ,242 30,665 Excess reserves 101 - 196 + 60 912 NOTE: A net of $162 million of surplus reserves were eligible to be carried forward from the week ended October 6, into the week ending October 13. On October 13, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $22,2 30 million, an increase of $390 million for the week. 1/ 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 October 13, Oct. 6, Oct. 14, 1971 1971 1970 A S S E TS Gold certificate account 9,875 «• •• - 944 Special Drawing Rights certif. accts. * 400 — — Cash (716) 304 - 5 + 83 Discounts and advances 1,033 + 843 + 121 Acceptances--Bought outright 53 -- + 17 Held under repurchase agreements 75 + 40 + 42 Federal Agency obligatons—Bought outright 96 — + 96 Held under repurchase agreements 98 + 63 - 45 U. S. Government securities: Bought outright--Bills 29,584 +5,708 Certificates Notes 34,719 — +1,961 Bonds 3.263 -- + 531 Total bought outright 1/ 67,566 «*«• +8,200 Held under repurchase agreements 504 + 186 - 54 Total U.S. Government securities 68,070 + 186 +8,146 Total loans and securities 69,425 +1, 132 +8,377 Cash items in process of collection (3,043) 11,436 + 334 + 779 Bank premises 150 + 1 + 26 Other assets 2/ 959 + 62 - 693 TOTAL ASSETS (3,759) 92,549 +1i 524 +7^628 tlAHIilllES Federal Reserve notes (716) 52,551 + 372 +3,834 Deposits: Member bank--reserves account 25,842 + 653 +1,689 U. S. Treasurer—general account 2,141 + 153 +1,242 Foreign 146 - 19 5 Other 3/ 736 + 17 + 11 Total deposits 28,865 + 804 +2,937 Deferred availability cash items (3,043) 8,900 + 534 + 756 Other liabilities and accrued dividends 641 + 25 + 26 TOTAL LIABILITIES (3,759) 90,957 +1, 735 +7,553 C A P I TA L A C C O U N TS Capital paid in 733 + 43 Surplus 702 — + 33 Other capital accounts 157 - 211 1 Contingent liability on acceptances purchased for foreign correspondents 252 19 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $38 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 13, 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 17031 84 4,246 + 86 98 +63 16 days to 90 days 2 44 18,110 + 81 91 days to 1 year — — 16,062 + 19 51 Over 1 year to 5 years — — 23,325 20 Over 5 years to 10 years — — 5,411 18 Over 10 years 12 — 916 7 Total 1,033 128 68,070 +186 194 +63 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.Ub) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 13, 1971 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Da lias Francisco (1n millions of dollars) A S S E TS Gold certificate account 9,875 614 2,137 671 753 670 458 1,621 486 212 519 624 1,110 Special Drawing Rights certif. acct. | 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 716 112 113 39 44 57 136 25 15 27 31 23 94 Other cash 304 9 30 11 27 36 40 39 17 7 28 17 43 Discounts and advances 1,033 67 337 11 3 23 18 378 * -- 5 30 161 Acceptances: Bought outright 53 -- 53 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements 75 _- 75 -- -- - — -- -- -- -- -- -- -- Federal Agency obligations-- Bought outright 96 5 24 5 7 7 5 16 4 2 4 4 13 Held under repurchase agreements 98 -- 98 -- -- -- -- -- -- -- -- -- -- 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:,3 74 4,125 Certificates: Other -- - — -- - — _. - — -- "- - - - - -- -- -- Notes 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 JL/ 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 504 -_ 504 -- -- -- ._ -- -- -- ... -- -- Total U.S. Government securities 68,070 3,149 17,736 3,578 5,204 4,922 3,401 11,070 2,467 1,279 2,704 ~3 ,139 9,421 Total loans and securities 69,425 3,221 18,323 3,594 5,214 4,952 3,424 11,464 2,471 1,281 2,713 3 ,173 9,595 Cash items in process of collection 14,479 879 2,258 755 1,107 1,296 1,384 2,325 869 565 912 925 1,204 Bank premises 150 2 8 3 22 13 16 17 14 20 18 9 8 Other assets 2/ 959 56 344 47 59 57 39 120 27 17 29 46 118 TOTAL ASSETS 96,308 4,916 23,306 5,143 7,259 7,117 5,519 15,681 3,914 2,136 4,265 4 ,831 12,221 1/ Includes $38 million securities loaned--fully secured b7 U.S. Government securities pledged with Federal Reserve Banks. 27 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 13, 1971 San New Phila Cleve Rich St. Minne Kansas 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 53,267 2,883 12,962 3,068 4,354 4,677 2,597 9,316 2,033 896 1,992 2,092 6,397 Deposits: Member bank reserves 25,842 941 6,898 1,096 1,603 1,116 1,599 3,932 847 607 1,160 1,694 4,349 U. S. Treasurer—general account 2,141 99 342 142 127 116 122 135 207 155 244 179 273 Foreign 146 6 1/ 50 7 12 7 9 20 4 3 5 7 16 Other 736 1 2/ 678 3 1 17 3 3 4 * 2 3 21 Total deposits 28,865 1,047 7,968 1,248 1,743 1,256 1,733 4,090 1,062 765 1,411 1,883 4,659 Deferred availability cash items 11,943 884 1,793 714 971 1,055 1,054 1,939 743 426 770 741 853 Other liabilities and accrued dividends 641 29 168 31 47 43 29 98 22 13 25 28 108 TOTAL LIABILITIES 94,716 4,843 22,891 5,061 7,115 7,031 5,413 15,443 3,860 2,100 4,198 4,744 12,017 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 157 7 39 8 14 12 9 24 5 3 6 7 21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 96,308 4,916 23,306 5,143 7,259 7,117 5.519 15.681 3,914 2.136 4.265 4.831 12.221 Contingent liability on ace: eptances purchased for foreign correspondents 252 12 3/ 66 13 23 13 17 38 8_ 6_ 1D_ 1k- 32_ FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 13,343 3,122 4,508 4,792 2,772 9,542 2,114 924 2,067 2,237 6,824 Collateral for F. R. notes: Gold certificate account 500 300 500 485 1,000 155 5 U. S. Government securities 13,000 3,000 4,100 4,415 2,900 8.750 2.030 _960 2,125 2.28Q 7.QQ0 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 $ 96 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $186 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis