H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Of GOV & , C-. FEDERAL RESERVE Factors Affecting Bank Reserves and •"^^^••'* Condition Statement of F.R. Banks H.4.1 For immediate release - October 21, 1971 The average of daily figures for total reserves of member banks increased in the latest statement week to $31,168 million. Required reserves and excess reserves increased while member bank borrowings at the Federal Reserve Banks declined. A seasonal rise in float and a decline in other Federal Reserve liabilities and capital were the major factors supplying reserves in the latest statement week. In addition, System Open Market operations supplied $81 million of reserves net, on a weekly average basis, primarily through repurchase agreements made early in the week. Member bank borrowings averaged $332 million and exceeded excess reserves by $21 million compared to $349 million in the previous week Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 20, Oct. 13, |0ct. 21. Oct. 20, and related items 1971 1971 1970 . 1971 * Reserve Bank credit: (In millions of dollars) U 2/ U.S. Government securities— Bought outright—System account 67,400 166 +8,050 66,592 Held under repurchase agreements 265 193 + 60 Federal Agency obligations-- Bought outright 96 + 96 96 Held under repurchase agreements 49 35 + 5 Acceptances-- Bought outright 52 2 + 17 51 Held under repurchase agreements 32 21 + 18 Discounts and advances-- Member bank borrowings 332 118 254 496 Other Float 3,658 + 795 323 3,186 Other F.R. assets 1,113 + 42 648 1,167 Total Reserve Bank credit 72,998 + 801 +7,667 71, 588 Gold stock 10,132 - 985 10, 132 Special Drawing Rights certif. acct. 400 400 Treasury currency outstanding 7,549 + 24 + 479 7 ,556 91,079 + 825 +7,161 89,676 Currency in circulation 59,349 + 33 +4,121 59,349 Treasury cash holdings 460 + 1 + 5 466 Treasury deposits with F.R. Banks 2,117 + 24 +1,007 2,148 Foreign deposits with F.R. Banks 145 + 11 + 15 129 Other deposits with F.R. Banks 730 - 33 - 16 702 Other F.R. liabilities and capital 2,252 -__ 127 + 98 2,243 65,054 90 +5,231 65,037 Member bank reserves: With Federal Reserve Banks 26,025 914 +1,930 24,639 Currency and coin 5,143 512 + 348 __5JL43 Total reserves held 31,168 + 402 +2,278 29,782 Required reserves 30,857 + 192 +2,156 30,857 Excess reserves 311 + 210 + 122 -1,075 NOTE: A net of $39 million of surplus reserves were eligible to be carried forward from the week ended October 13, into the week ending October 20. On October 20, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $22,377 million, an increase of $147 million for the week. 1/ Excludes $640 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $31 million securities loaned—fully secured by U.S. Government securities. pledged with Federal Reserve Banks. * Estimated (Atlanta District). 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. 20, Oct. 13, Oct. 21, 1971 ** 1971 1970 A S S E TS 9,875 944 Gold certificate account * 400 Special Drawing Rights certif. accts. Cash (799) 309 5 + 85 Discounts and advances 496 537 - 783 Acceptances--Bought outright 51 2 + 15 75 - 10 Held under repurchase agreements Federal Agency obligatons—Bought outright 96 -- + 96 98 - 32 Held under repurchase agreements U. S. Government securities: Bought outright--Bills 28,610 974 +4,791 Certificates Notes 34,719 — +1,961 Bonds 3,263 -- + 531 Total bought outright 1/ 2/ 66,592 - 974 +7,283 Held under repurchase agreements — - 504 - 294 Total U.S. Government securities 66,592 -1,478 +6,989 Total loans and securities 67,235 -2,190 +6,275 Cash items in process of collection (3,247) 12,052 + 613 +1,342 Bank premises 149 1 + 24 Other assets 3/ 1,018 + 59 - 619 TOTAL ASSETS (4,046) 91.038 -lt514 +6,163 Federal Reserve notes (799) 52,311 - 240 +3,796 Deposits: Member bank--reserves account 24,559 -1,286 + 114 U. S. Treasurer--general account 2,148 + 7 + 995 Foreign 129 - 17 + 22 Other 4/ 702 - 34 11 Total deposits 27,538 -1,330 +1,120 Deferred availability cash items (3,247) 8,946 + 46 +1,185 Other liabilities and accrued dividends 588 - 53 6 TOTAL LIABILITIES (4,046) 89,383 -1,577 +6,095 £ A Z I I A. L A C C O U N TS Capital paid in 734 1 + 44 Surplus 702 — + 33 Other capital accounts 219 + 62 9 Contingent liability on acceptances purchased for foreign correspondents 251 - 1 + 14 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $640 million of securities sold, and scheduled to be bought back under matched sale-purchase transactions. 2j Includes $31 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. kj Includes IMF gold deposit. **Estimated (Atlanta District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 20, 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 492 11 3,552 - 694 — -98 16 days to 90 days 4 40 17,407 - 703 91 days to 1 year 15,981 - 81 51 Over 1 year to 5 years 23,325 — 20 Over 5 years to 10 years 5,411 — 18 Over 10 years — ~ 916 ~ J7_ _ZL Total 496 51 66,592 -1,478 96 -98 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 20, 1971 * New Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Dallas York delphia land mond Louis apolis City Francisco O' .n millions of dollars) A S S E TS Gold certificate account 9,875 460 2,123 502 799 1,167 454 1,769 589 238 400 344 1,030 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 799 120 141 43 45 70 136 29 21 30 34 32 98 Other cash 309 9 31 11 28 37 40 39 19 8 28 17 42 Discounts and advances 496 6 261 11 7 13 7 95 -- 1 10 25 60 Acceptances: Bought outright 51 -- 51 -- -- -- -- -- -- — -- « -- Held under repurchase agreements Federal Agency obligations-- Bought outright 96 5 24 5 7 7 5 16 4 2 4 4 13 Held under repurchase agreements ! -- -- -- -- -- -- — -- -- -- -- — U.S. Government securities: Bought outright-- Bills 28,610 1,334 7,297 1,515 2 ,204 2,084 1,440 4,687 1,045 541 1 ,145 1 ,329 3,989 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 V2_l 66,592 3,104 16,984 3,526 5 ,129 4,851 3,352 10,910 2,432 1,260 2 ,665 3 ,094 9,285 Held under repurchase agreements -- -- -- -- — -- -- — -- -- -- -- -- Total U.S. Government securities 66,592 3,104 16,984 3,526 5 ,129 4,851 3,352 10,910 2,432 1,260 2 ,665 3 ,094 9,285 Total loans and securities 67,235 3,115 17,320 3,542 5 ,143 4,871 3,364 11,021 2,436 1,263 2 ,679 3 ,123 9,358 Cash items in process of collection 15,299 934 2,608 831 1 ,099 1,136 1,390 2,555 843 653 950 961 1,339 Bank premises 149 2 8 3 22 13 16 17 14 20 17 9 8 Other assets 3/ 1,018 60 356 51 63 61 40 130 28 20 31 37 141 TOTAL ASSETS 95,084 4,723 22,680 5,006 7 ,232 7,391 5,462 15,630 3,965 2,239 4 ,154 4 ,537 12,065 1/ Excludes $640 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 7/ Includes $31 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. * Estimated. 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 20, 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) Federal Reserve notes 53,110 2,872 12,918 3,066 4,348 4,663 2,586 9,301 2,026 894 1,987 2,083 6,366 Deposits: Member bank reserves 24,559 859 6,486 1,024 1,579 1,391 1,578 3,464 900 657 1,170 1,465 3,986 U. S. Treasurer—general account 2,148 74 235 115 157 240 83 331 260 119 125 133 276 Foreign 129 6 1/ 33 7 12 7 9 20 4 3 5 7 16 Other 702 1 2/ 630 2 17 3 19 2 1 2 2 23 Total deposits 27,538 940 7,384 1,148 1,748 1,655 1,673 3,834 ,166 780 1,302 1,607 4,301 Deferred availability cash items 12,193 807 1,796 677 941 940 1,066 2,151 696 514 771 730 1,104 Other liabilities and accrued dividends 588 28 149 29 46 43 30 94 21 14 25 27 82 TOTAL LIABILITIES 93,429 4,647 22,247 4,920 7,083 7,301 5,355 15,380 3,909 2,202 4,085 4,447 11,853 CAPITAL ACCOUNTS Capital paid in 734 33 192 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 219 10 56 12 19 16 10 36 7 4 ft in 31 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 95,084 4.J23 22,680 5,006 7.232 7.391 5,462 15.630. 3,965 2,239 ^T^L 4,537 12,Q6j _ Contingent liability on accept ances purchased for foreign c orre s pondent s 251 12 3/ 66 13 22 13 17 38 10 14 32 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes' outstanding 3,025 13,365 3,141 4,516 4,798 2,791 9,569 2,121 920 2,062 2,241 6,832 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 2125 lOm 7.000 f 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. Digitized for FRA3S/E R After -deducting $ 185 million participations of other Federal Reserve Banks. http://fraser.stlou*is feEds.otrgi/ mated Federal Reserve Bank of St. Louis