H.4.1 Factors Affecting Reserve Balances of Depository Institutions

i^Jn&v. FEDERAL RESERVE Factors Affecting Bank Reserves and '•?f«£V Condition Statement of F.R. Banks H.4.1 For immediate release November 26, 1971 The average of daily figures for total reserves of member banks declined $470 million in the latest statement week to $30,759 million. Increases in currency in circulation and Treasury deposits with Federal Reserve Banks and a decline in Other Federal Reserve assets were the major factors absorbing reserves in the latest statement week. System Open Market operations provided $590 million reserves net, on a weekly average basis, primarily through outright purchases of Treasury bills and coupon issues. Member bank borrowings were above the average of recent weeks and exceeded excess reserves by $344 million compared to $43 million in the previous week. Averages c f daily figures Member bank reserves, Week ende. d Change froirI week ended Wednesday, Reserve Bank credit, Nov. 24, Nov. 17, 1 Nov.25, Nov. 24, and related items 1971 1971 i 1970 1971 * Reserve Bank credit: (IrI mil lions c f dol iars) U.S. Government securities- Bought outright — System account 67,688 + 453 +7 ,338 1/ 67,980 Held under repurchase agreements 468 + 93 + 378 ! 1,507 Federal Agency obligations — Bought outright 179 _- + 179 179 Held under repurchase agreements 65 26 + 53 196 Acceptances- Bought outright 52 - 6 + 15 56 Held under repurchase agreements 56 + 24 + 52 146 Discounts and advances- Member bank borrowings 539 + 250 + 103 2,394 Other Float 3,258 - 24 + 72 3,011 Other F.R. assets 796 - 265 - 217 823 Total Reserve Bank credit 73,100 + 550 +7 ,972 76,292 Gold stock 10,132 -- - 985 10,132 Special Drawing Rights certif. acct. 400 -- — 400 .Treasury currency outstanding 7,576 + 3 + 471 7,579 91,208 + 553 +7 ,458 94,403 Currency in circulation 60,119 + 194 +4 ,079 60,490 Treasury cash holdings 464 - 1 + 8 467 Treasury deposits with F.R. Banks 1,927 + 345 +1 ,180 1,435 Foreign deposits with F.R. Banks 123 -- - 12 126 Other deposits with F.R. Banks 686 - 39 + 5 698 ^Other F.R. liabilities and capital 2,264 + 20 + 56 2,293 65,583 + 519 +5 ,316 65,509 Member bank reserves*: With Federal Reserve Banks 25,625 + 33 +2 ,141 28,894 Currency and coin 5,134 - 503 + 245 5,134 Total reserves held 30,759 - 470 +2 ,386 34,028 Required reserves 30,564 - 419 +2 ,267 30,564 Excess reserves 195 - 51 + 119 3,464 NOTE: A net of $76 million of surplus reserves were eligible to be carried forward from the week ended November 17, into the week ending November 24. On November 24, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $23,877 million, an increase of $298 million for the week. 1/ Includes $36 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. * Estimated (Cleveland and Chicago Districts). 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 November 24, Nov. 17, Nov. 25, 1971 ** 1971 1970 A S S E TS Gold certificate account 9,875 — m» 952 Special Drawing Rights certif. accts. * 400 -_ -- Cash (756) 266 + 3 + 49 Discounts and advances 2,394 +2,004 + 1,250 Acceptances--Bought outright 56 + 5 + 20 Held under repurchase agreements 146 + 64 i- 119 Federal Agency Obligations—Bought outright 179 __ + 179 Held under repurchase agreements 196 92 + 110 U. S, Government securities: Bought outright—Bills 29,486 4 290 4 4,638 Certificates Notes 35,261 + 229 + 2,397 Bonds 3 233 + 35 f 451 4 Total bought outright 1 / 67,9li0 + 554 + 77486 Held under repurchase agreements 1 ,507 + 675 \ 87,8 Total U,S. Government securities 597437 +l"~229 "f 87364" Total loans and securities 727458 +3,394 +10,042 Cash items in process of collection (3,163) 1i .485 -1,499 + 1,499 Bank premises 148 -_ + 21 Other assets 2/ 675 4 22 235 TOTAL ASSETS (3,919) 95],307 +107424 Federal Reserve notes (756) 53,387 + 389 + 3,780 Deposits: Member bank—reserves account 28,814 +2,604 + 4,694 U. S* Treasurer—general account 1,435 97 + 630 Foreign 1.26 19 + 9 Other 3/ 698 7 + 36 Total deposits 31,073 +2,481 + 5,369 Deferred availability cash items (3,163) 8,554 -1,017 + 1,218 Other liabilities and accrued dividends 615 + 18 + 8 TOTAL LIABILITIES (3,919) 93,629 +1,871 +10,375 £ A £ I 1 £. L A C C O U N TS Capital paid in 736 + 43 mm mm Surplus 702 + 33 Other capital accounts 240 • 49 27 Contingent liability on acceptances purchased for foreign correspondents 241 - 5 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $36 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. 5/ Includes IMF gold deposit. ** Estimated (Cleveland and Chicago Districts). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, November 24, 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 2,390 160 5,757 + 337 196 + 92 16 days to 90 days 4 42 14,551 + 332 1 91 days to 1 year -- -- 15,475 + 330 74 Over 1 year to 5 years -- -- 25,1.07 + 187 68 Over 5 years to 10 years -- -- 7,489 + 57 22 Over 10 years -- 1,108 + 16 14 Total 2,394 202 697487 +T 7229 375 + 92 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 24, 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 54,143 2,891 13,253 3,175 4,447 4,727 2,671 9,521 2,067 894 2,011 2,087 6,399 Deposits: Member bank reserves 28,814 1,113 7,128 1,089 1,829 1,316 1,694 4,689 922 625 1,109 1,726 5,574 U. S. Treasurer—general account 1,435 134 487 90 77 59 67 132 63 51 74 71 130 Foreign 126 5 1/ 42 6 10 6 8 17 4 3 5 6 14 Other 698 1 2/ 645 1 1 14 3 2 1 * 6 1 23 Total deposits 31,073 1,253 8,302 1,186 1,917 1,395 1,772 4,840 990 679 1,194 1,804 5,741 Deferred availability cash items 11,717 724 1,669 566 841 863 1,272 2,322 633 467 747 640 973 Other liabilities and accrued dividends 615 29 177 29 47 40 31 97 22 13 23 27 80 TOTAL LIABILITIES "9T734T" 4,897 23,401 4,956 7,252 7,025 5,746 16,780 3,712 2,053 3,975 4,558 13,193 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 240 11 65 13 20 19 14 30 10 4_ 6_. 12. ^_26 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 99,226 4,975 23,843 5,043 7,402 7,118 5,857 17,024 —3,771 2.090 4,042 4,650^ Jiitil™. Contingent liability on ace: eptances purchased for foreign correspondents 241 11 V 64 12 22 12 16 36 8 6 10 14 30 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 56,139 3,057 13,686 3,245 4,558 4,849 2,892 9,704 2,163 924 2,079 2,210 6,772 Collateral for F. R. notes: Gold certificate account 3,045 200 500 300 400 485 — 1,000 155 5 U. S. Government securities 54,580 2,920 13,400 3,150 4,300 4,415 2,950 9.000 2,080 960 2,125 2,280 2JML Total collateral 57,625 3,120 13,900 3,450 4,700 4,900 2,950 10,000 2,235 960 2,125 2,285 7,000 1/ After deducting $ 84 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit, * Less than $500,000. 2/ After deducting $ 177 million participations of other Federal Reserve Banks• ** Estimated. 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 NOVEMBER 24, 1971 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land'* mond Atlanta Chicago >v Louis apolis City Dai llas Francisco (In millions of dollars) A S S E TS 1 Gold certificate account 9,875 615 524 609 969 774 456 2,378 210 99 286 501 2,454 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 756 113 117 55 54 58 159 24 18 25 32 29 72 Other cash 266 8 23 8 26 37 35 30 17 7 26 15 34 Discounts and advances 2,394 73 1,010 64 28 98 109 623 3 57 4 321 Acceptances: Bought outright 56 -- 56 -- — -- — -- -- -- -- -- Held under repurchase agreements 146 -- 146 — -- — -- -- - -- -- -- Federal Agency obligations-- Bought outright 179 9 46 9 14 13 9 29 4 7 8 24 Held under repurchase agreements 196 -- 196 — — -- -- -- - - — -- U.S. Government securities: Bought outright-- Bills 29,486 1,415 7,537 1,538 2,264 2,159 1,525 4,780 1,160 571 1,171 1 ,378 3,988 Certificates: Special Other Notes 35,261 1,691 9,014 1,839 2,708 2,582 1,823 5,716 1,388 683 1,401 1 ,647 4,769 Bonds 3,233 155 826 169 248 237 167 524 127 63 129 151 437 Total bought outright 67,980 3,261 17,377 3,546 5,220 4,978 3,515 11,020 2,675 1,317 2,701 ~T, 176 9,194 Held under repurchase agreements 1,507 -- 1,507 — — — -- -- — -- -- — — Total U.S. Government securities 69,487 3,261 18,884 3,546 5,220 4,978 3,515 11,020 2,675 1,317 2,701 ~T, 176 9,194 Total loans and securities 72,458 3,343 20,338 3,619 5,262 5,089 3,633 11,672 2,685 1,325 2,765 3 ,188 9,539 Cash items in process of collection ! 14,648 825 2,460 700 999 1,074 1,510 2,761 793 596 882 872 1,176 Bank premises 148 2 8 3 23 13 16 17 14 18 17 9 8 Other assets ! 675 46 280 26 36 37 26 72 19 13 19 22 79 TOTAL ASSETS 99,226 4,975 23,843 5,043 7,402 7,118 5,857 17,024 3,771 2,090 4,042 4 ,650 13,411 \J Includes $36 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. * Estimated. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis