H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release November 4, 1971 The average of daily figures for total reserves of member banks increased in the latest statement week to $550 million. Required reserves and excess reserves increased while member bank borrowings at the Federal Reserve Banks declined. An increase in currency in circulation was the major factor absorbing reserves in the latest statement week. Float, which normally declines at this time of month, rose contraseasonally by $203 million. Also providing a significant amount of reserves was a decline in Treasury deposits with Federal Reserve Banks. System Open Market operations supplied $57 million of reserves net, on a weekly average basis, primarily through repurchase agreements at the end of the week. Member bank borrowings were $198 million less than excess reserves. In the previous week they exceeded excess reserves by $370 million. Averages ojE daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 3, Oct. 27, Nov. 4, Nov. 3, and related items 1971 1971 1970 1971 Reserve Bank credit: (Irl mi'L lions of dollars) U.S. Government securities- Bought outright--System account 67,180 + 19 +7,652 1/ 67,130 Held under repurchase agreements 101 + 29 - 268 706 Federal Agency obligations-- Bought outright 96 -- + 96 96 Held under repurchase agreements 13 8 - 50 94 Acceptances-- Bought outright 52 1 + 16 51 Held under repurchase agreements 5 -- 23 40 Discounts and advances — Member bank borrowings 215 • 199 - 208 252 Other Float 3,300 + 203 + 660 2,712 Other F.R. assets 1.2Q7 ±__ AI - 426 1.241 Total Reserve Bank credit 72,169 + 109 +7,449 72,322 Gold stock 10,132 — - 985 10,132 Special Drawing Rights certif. acct. 400 -- -- 400 Treasury currency outstanding 7,564 + 4 + 467 7,570 90,265 + 112 +6,931 90,424 Currency in circulation 59,316 + 142 +4,171 59,564 Treasury cash holdings 491 + 35 + 27 493 Treasury deposits with F.R. Banks 1,795 - 388 + 754 1,687 Foreign deposits with F.R. Banks 134 - 22 35 124 Other deposits with F.R. Banks 726 + 15 24 740 Other F.R. liabilities and capital 2,355 + 74 + 63 2,403 64,817 - 145 +4,956 65,011 Member bank reserves: With Federal Reserve Banks 25,449 + 258 +1,978 25,414 Currency and coin 5,525 + 292 + 344 5,525 Total reserves held 30,974 + 550 +2,322 30,939 Required reserves 30,561 + 181 +2,227 30,561 Excess reserves 413 + 369 + 95 378 NOTE: A net of $40 million of surplus reserves were eligible to be carried forward from the week ended October 27, into the week ending November 3. On November 3, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $22,942 million, an increase of $264 million for the week. 1/ Includes $30 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 Nov. 3, Oct. 27, Nov. 4, 1971 1971 1970 A S S E TS Gold certificate account 9,875 — 952 Special Drawing Rights certif. accts. * 400 — -- Cash ( 805) 282 - 24 + 59 Discounts and advances 252 -1,791 - 332 Acceptances--Bought outright 51 -- + 15 Held under repurchase agreements 40 + 5 + 12 Federal Agency obligations—Bought outright 96 — + 96 Held under repurchase agreements 94 + 62 + 43 U. S. Government securities: Bought outright—Bills 29,148 126 + 5,110 Certificates Notes 34,719 — + 1,961 Bonds 3,263 — + 531 Total bought outright 1/ 67;i30 - 126 + 7,602 Held under repurchase agreements 706 + 204 + 375 Total U.S. Government securities 67,836 + 78 + 7,977 Total loans and securities 68,369 -1,646 + 7,811 Cash items in process of collection (3,205) 11,700 + 500 + 664 Bank premises 149 1 + 24 Other assets 2/ 1,092 + 41 - 396 TOTAL ASSETS (4,010) 91,867 -1,130 +_7 ,210 E S Federal Reserve notes ( 805) 52,511 + 159 + 3,784 Deposits: Member bank—reserves account 25,334 -1,859 + 2,275 U. S. Treasurer--general account 1,687 22 + 493 Foreign 124 - 32 - 39 Other 3/ 740 + 52 + 2 Total deposits 27,885 -1,861 + 2,731 Deferred availability cash items (3,205) 9,068 + 474 + 619 Other liabilities and accrued dividends 614 + 31 + 11 TOTAL LIABILITIES (4,010) 90,078 -1,197 + 7,145 C A P I T AL A C C O U N TS Capital paid in 736 + 1 + 46 Surplus 702 -- + 33 Other capital accounts 351 + 66 - 14 Contingent liability on acceptances purchased for foreign correspondents 262 + 4 + 23 * Figures in parentheses are the eliminations made in the consolidating process. J7 Includes $30 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, November 3, 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 249 67 8,438 +3,383 94 62 16 days to 90 days 3 24 14,068 -3,161 91 days to 1 year — 15,678 - 144 51 Over 1 year to 5 years — 23,325 — 20 Over 5 years to 10 years — 5,411 -- 18 Over 10 years — — 916 — 7 Total 252 91 67,836 + 78 190 62 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 NOVEMBER 3, 1971 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco 0! n millions of dollars) A S S E TS Gold certificate account 9,875 315 2,303 707 603 871 380 1,947 229 180 320 288 1,732 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 805 121 121 41 47 66 158 37 21 27 35 34 97 Other cash 282 9 27 9 25 38 38 32 18 6 25 17 38 Discounts and advances 252 3 57 -- 2 15 11 146 -- i 13 /; -- Acceptances: Bought outright 51 -- 51 -- -- — -- -- -- -- -- -- -- Held under repurchase agreements 40 — 40 -- -- — — -- -- -- — -- -- Federal Agency obligations- Bought outright 96 5 24 5 1 * 5 16 4 2 4 4 13 Held under repurchase agreements 94 -- 94 -- -- -- -- -- — U.S. Government securities: Bought outright-- Bills 29,148 1,398 7,451 1,521 2,238 2,134 1,507 4,726 1,147 564 1,158 1,362 3,942 Certificates: Other "~ -- -- -- -- -- -- -- -- -- -- -- -- Notes 34,719 1,665 8,875 1,811 2,666 2,543 1,795 5,628 1,366 673 1,379 1,622 4,696 Bonds 3,263 157 834 170 251 239 169 529 128 63 130 152 441 Total bought outright 1/ 67,130 3,220 17,160 3,502 5,155 4,916 3,471 10,883 2,641 1,300 2,667 3,136 9,079 Held under repurchase agreements 706 _- 706 -- -- -- -- -- -- -- -- -- -- Total U.S. Government securities 67,836 | 3,220 17,866 3,502 5,155 4,916 3,471 10,883 2,641 1,300 2,667 3,136 9,079 Total loans and securities 68,369 3,228 18,132 3,507 5,164 4,938 3,487 11,045 2,645 1,303 2,684 3,144 9,092 Cash items in process of collection 14,905 937 2,239 782 1,097 1,103 1,510 2,449 834 724 915 893 1 /. oo Bank premises 149 2 8 22 13 16 17 14 20 17 9 8 Other assets 2/ 1,092 | 65 380 60 69 66 47 138 34 22 36 42 133 TOTAL ASSETS 95,877 | 4,700 23,303 5,132 7,060 7,131 5,658 15,735 3,810 2,289 4,047 4,441 12,571 1/ Includes $30 million securities loaned—fully by U.S. 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 November 3, 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 53,316 2,865 13,045 3,083 4,355 4,709 2,606 9,299 2,033 888 1,988 2,077 6,368 Deposits: Member bank reserves 25,334 822 6,635 1,008 1,512 1,277 1,546 3,919 875 640 1,093 1,432 4,575 U. S. Treasurer—general account 1,687 111 257 80 101 94 104 217 143 172 119 129 160 Foreign 124 5 1/ 43 6 10 6 7 16 4 2 5 6 14 Other 740 * 2/ 682 9 -- 16 2 4 3 1 2 2 19 Total deposits 27,885 938 7,617 1,103 1,623 1,393 1,659 4,156 1,025 815 1,219 1,569 4,768 Deferred availability cash items 12,273 786 2,011 823 877 886 1,247 1,913 668 528 742 671 1,121 Other liabilities and accrued dividends 614 29 163 30 46 43 31 96 23 19 24 ?R ft? TOTAL LIABILITIES 94,088 4,618 22,836 5,039 6,901 7,031 5,543 15,464 3,749 2,250 3,973 4,345 12,339 CAPITAL ACCOUNTS Capital paid in 736 34 192 38 67 38 50 109 25 17 31 41 94 Surplus 702 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 351 15 90 19 29 26 18 57 12 6 13 16 50 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 95,877 4,700 23,303 5,132 7,060 7,131 5,658 15,735 3,810 2,289 4,047 4,441 12.571 Contingent liability on ace: eptances purchased for forei- gn correspondents 262 12 3/ 69 13 24 13 18 39 9 6 11 15 12__ FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,038 13,426 3,140 4,517 4,835 2,797 9,575 2,121 922 2,058 2,226 6,799 Collateral for F. R. notes: Gold certificate account 200 500 300 500 485 1,000 155 5 U. S. Government securities 2,920 13,200 3,000 4,100 4,415 2,900 8,750 2.030 960 2.125 2 f 280 7.QQQ Total collateral 3,120 13,700 3,300 4,600 4,900 2,900 9,750 2,185 960 2,125 2,285 7,000 1/ After deducting $81 million participations of other Federal Reserve Banks. 7/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 193 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis