H.4.1 Factors Affecting Reserve Balances of Depository Institutions

2=^,;-. FEDERAL RESERVE Factors Affecting Bank Reserves and "••fgflPf- Condition Statement of F.R. Banks H > 4.1 For immediate release November 11, 1971 The average of daily figures for total reserves of member banks declined $358 million in the latest statement week to $30,616 million. Required reserves increased while excess reserves and member banks borrowings at the. Federal Reserve Banks declined. A reduction in Treasury deposits with Federal Reserve Banks was the major factor supplying reserves in the latest statement week. A seasonal increase in currency in circulation and a decline in float more than offset this supply of reserves. In addition, System Open Market operations drained $68 million reserves net, on a weekly average basis. Member bank borrowings averaged $122 million and exceeded excess reserves by $103 million. In the previous week they were $198 million less than excess reserves. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov, 10, Nov. 3, Nov. 11, Nov. 10, and related items 1971 * 1971 1970 1971 * Reserve Bank credit: (Irl mill. ions of dollars) U.S. Government securities — Bought outright — System account 67,024 - 156 f7,590 1/2/66,765 Held under repurchase agreements 141 + 40 - 247 — Federal Agency obligations-- Bought outright 131 35 + 131 179 Held under repurchase agreements 11 2 46 -- Acceptances- Bought outright 53 f 1 F 17 57 Held under repurchase agreements 19 JL. 14 20 — Discounts and advances- Member bank borrowings 122 93 323 196 Other Float 3,134 - 1.66 + 12 2,884 Other F.R. assets 1,240 -f 33 - 402 1,291 Total Reserve Bank credit 71,876 - 293 +6,713 71,372 Gojd stock 10,132 — - 985 10,132 Special Drawing Rights certif. acct. 400 -- «- 400 Treasury currency outstanding 7,557 - 7 + 460 7,567 89,965 - 300 +6,189 89,471 Currency in circulation 59,594 JL 278 +3,942 59,934 Treasury cash holdings 479 - 12 + 31 473 Treasury deposits with F.R. Banks 1,598 - 197 + 610 1,411 Foreign deposits with F.R. Banks 119 - 15 51 137 Other deposits with F.R. Banks 710 - 16 48 714 Other F.R. liabilities and capital J^lll + 67 + 43 2,442 64,922 + 105 +4,526 65,111 Member bank reserves:; With Federal Reserve Banks 25,043 - 406 +1,662 24,360 Currency and coin 5,573 + 48 + 229 5,573 Total reserves held 30,616 - 358 +1,891 29,933 Required reserves 30,597 4- 36 +2,154 30,597 Excess reserves 19 - 394 - 263 - 664 NOTE: A net of $222 million of surplus reserves were eligible to be carried forward from the week ended November 3, into the week ending November 10. On November 10, 1971, marketable U.S- Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $23,417 million, an increase of $475 million for the week, 1/ Excludes $375 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2J Includes $18 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. v Estimated (Dallas 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 Nov. 10, Nov. 3, Nov. 11, 1971 ** 1971 1970 A S S E TS Gold certificate account 9,875 „ - 952 Special Drawing Rights certif. accts. * 400 -- -- Cash (730) 268 - 14 + 49 Discounts and advances 196 - 56 - 357 Acceptances—Bought outright 57 + 6 + 21 Held under repurchase agreements — - 40 -- Federal Agency obligations—Bought outright 179 + 83 + 179 Held under repurchase agreements -- - 94 -- U. S. Government securities: Bought outright—Bills 28,783 365 +5,487 Certificates Notes 34,719 — +1,961 Bonds 3,263 — + 531 Total bought outright 1/ 2/ 66,765 - 365 +7,979 Held under repurchase agreements — - 706 -- Total U.S. Government securities 66,765 -1,071 +7,979 Total loans and securities 67,197 -1,172 +7,822 Cash items in process of collection (2,824) 10,865 - 899 + 861 Bank premises 148 1 + 21 Other assets 3/ 1,143 + 51 - 400 TOTAL ASSETS" (3,554) 89,896 -2,035 +7,401 Federal Reserve notes (730) 52,851 + 340 +3,539 Deposits: Member bank—reserves account 24,280 -1,118 +3,027 U. S. Treasurer—general account 1,411 - 276 - 99 Foreign 137 + 13 4 Other 4/ 714 26 .-.., . 36 Total deposits 26,542 -1,407 +2,888 Deferred availability cash items (2,824) 8,061 -1,007 + 924 Other liabilities and accrued dividends 591 23 9 TOTAL LIABILITIES (3,554) 88,045 -2,097 +7,342 C A P I T AL A C C O U N TS Capital paid in 735 1 + 45 Surplus 702 -- + 33 Other capital accounts 414 f 63 19 Contingent liability on acceptances purchased for foreign correspondents 257 5 4-11 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $375 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $18 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. 4/ Includes IMF gold deposit. ** Estimated (Dallas District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, November 10. 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 196 30 6,132 -2,306 -- - 94 16 days to 90 days 27 15,202 +1,134 1 + 1 91 days to 1 year — 15,779 + 101 74 + 23 Over 1 year to 5 years — 23,325 _. 68 + 48 Over 5 years to 10 years — 5,411 — 22 + 4 Over 10 years -- — 916 -- 14 +_ 7 Total 196 57 66,765 -1,071 179 11 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 10, 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 53,581 2,876 13.084 3,124 4,381 4,715 9,347 2,050 893 2,002 2,083 6,383 Deposits: Member bank reserves 24,280 1,085 6,519 916 1,743 1,108 1,600 3,345 881 589 1,127 1,277 4,090 U, S. Treasurer—general account 1,411 121 303 95 117 122 96 111 111 40 74 53 168 Foreign 137 6 1/ 45 6 11 7 8 19 4 3 5 7 16 Other 714 1 2/ 657 3 1 13 3 5 1 1 2 2 25 Total deposits 26,542 1,213 7,524 1,020 1,872 1,250 1,707 3,480 997 633 1,208 1,339 4,299 Deferred availability cash items 10,885 709 1,321 592 795 819 1,210 1,828 645 469 722 744 1,031 Other liabilities and accrued dividends 591 29 148 31 46 42 31 95 23 15 23 28 80 TOTAL LIABILITIES 91,599 4,827 22,077 4,767 7,094 6,826 5,591 14,750 3,715 2,010 3,955 4,194 11,793 CAPITAL ACCOUNTS Capital paid in 735 33 192 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 414 18 107 22 33 31 21 68 15 7 16 17 59 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 93,450 4,911 22,561 4,863 7,257 6,931 5,709 15,032 3,779 2,050 4,032 4,291 12,034 Contingent liability on accept" ances purchased for foreign correspondents 257 12 3/ 68 13 23 13 17 39 9 6 11 14 32 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R-. notes outstanding 55,614 3,024 13,504 3,182 4,510 4,828 2,826 9,603 2,130 928 2,075 2,215 6,789 Collateral for F. R. notes: Gold certificate account 3,145 200 500 300 500 485 1,000 155 — — 5 U. S. Government securities 53,680 2,920 13,200 3,000 4,100 4,415 2,900 8,750 2,030 960 2,125 2,280 7,000 Total collateral 56,825 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 $ 92 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. other Federal Reserve Banks. 3/ After deducting $189 million participations of ** Estimated. 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 10, 1971 New Phila Cleve Rich St. Minne- Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apcl is City Dallas Francisco 0. n millions of dollars) A S S E TS Gold certificate account 9,875 666 2,476 482 1,013 817 545 1,657 264 33 350 114 1,458 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 730 114 131 35 36 53 144 26 15 26 34 30 86 Other cash 268 9 24 10 25 36 36 29 17 5 25 17 35 Discounts and advances 196 * 154 -- -- 13 2 11 * 2 10 4 -- Acceptances: Bought outright 57 57 — -- -- -- -- — -- Held under repurchase agreements Federal Agency obligations- Bought outright 179 9 46 9 14 13 9 29 7 4 7 8 24 Held under repurchase agreements -- -- — -- — -- -- — — — -- -- " U.S. Government securities: Bought outright-- Bills 28,783 1,380 7,358 1,502 2,210 2,108 1,488 4,666 1,133 557 1,143 1 ,345 3,893 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 JL/2/ 66,765 3,202 17,067 3,483 5,127 4,890 3,452 10,823 2,627 r, 293 2,652 3", 119 9,030 Held under repurchase agreements -- 1 -- — -- -- — -- -- -- — -- -- -- Total U.S. Government securities 66,765 3,202 17,067 3,483 5,127 4,890 3,452 10,823 2,627 T, 293 2,652 3", 119 9,030 Total loans and securities 67,197 3,211 17,324 3,492 5,141 4,916 3,463 10,863 2,634 1 ,299 2,669 3,, 131 9,054 Cash items in process of collection 13,689 818 2,116 753 916 989 1,435 2,222 784 641 884 930 1,201 Bank premises 148 2 8 3 23 13 16 17 14 18 17 9 8 Other assets 3/ 1,143 68 389 65 70 71 48 148 36 21 38 46 143 TOTAL ASSETS 93,450 4,911 22,561 4,863 7,257 6,931 5,709 15,032 3,779 2 ,050 4,032 4,, 291 12,034 1/ Exculdes $375 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $18 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. "* Less than $500,000. **Estimated. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis