H.4.1 Factors Affecting Reserve Balances of Depository Institutions

••iv^miti: FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release December 30, 1971 The average of daily figures for total reserves of member banks increased $759 million in the latest statement week to $31,951 million. Required reserves, excess reserves and member bank borrowings at the Federal Reserve Banks all increased. An increase in currency in circulation and Treasury deposits with the Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. Partially offsetting these reserve drains was an increase in float. In addition, System Open Market operations provided $625 million reserves net, on a weekly average basis primarily through repurchase agreements. Member bank borrowings averaged $ 216 million and were $142 million less than excess reserves. In the previous week, borrowings exceeded excess reserves by $132 million. Averages <o f daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 29, Dec. 22, Dec. 30, Dec. 29, and related items 1971 1971 1970 1971 Reserve Bank credit: (Irl millions of dollars) U.S. Government securities- Bought outright—System account 68,453 + 55 +6,899 11/ 68,574 Held under repurchase agreements 533 + 445 + 391 2,589 Federal Agency obligations— Bought outright 485 + 20 + 485 485 Held under repurchase agreements 43 + 36 + 35 111 Acceptances- Bought outright 78 + 11 + 22 80 Held under repurchase agreements 80 + 58 + 66 183 Discounts and -advances- Member bank borrowings 216 + 72 54 1,338 Other Float 4,684 + 213 + 41 4,046 Other F.R. assets 1,096 + 108 1 1,114 Total Reserve Bank credit 75,667 +1 ,016 +7,884 78,520 Gold stock 10,132 — - 985 10,132 Special Drawing Rights certif. acct. 400 — — 400 Treasury currency outstanding 7,634 + 19 + 463 7,619 93,832 +1 ,034 f7,361 96,671 Currency in circulation 61,448 + 206 f4,024 61,492 Treasury cash holdings 448 - 2 f 39 459 Treasury deposits with F.R. Banks 2,336 + 441 f 1,131 1,955 Foreign deposits with F.R. Banks 471 + 45 f 309 281 Other deposits with F.R. Banks 708 - 28 3 754 Other F.R. liabilities and capital 2,301 + 67 + 70 2,362 67,712 + 729 +5,570 67,303 Member bank reserves: With Federal Reserve Banks 26,121 + 306 fl,792 29,368 Currency and coin 5,830 + 453 + 316 5,830 Total reserves held 31,951 + 759 +2,108 35,198 Required reserves 31,593 + 413 +2,184 31,593 Excess reserves 358 + 346 - 76 3,605 NOTE: A net of $13 million of surplus reserves were eligible to be carriedf orward from the week ended December 22, into the week ending December 29. On December 29, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks .for foreign and international accounts were $2,75 49 million, a decrease of $148 million for the week. 1/ Includes $53 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 Dec. 29, Dec. 22, Dec. 30, 1971 1971 1970 A S S E TS Gold certificate account 9,875 — 967 Special Drawing Rights certif. accts. * 400 — — Cash (885) 253 + 7 + 34 Discounts and advances 1,338 + 510 + 1,086 Acceptances--Bought outright 80 + 5 + 24 Held under repurchase agreements 183 + 180 + 183 Federal Agency obligatons—Bought outright 485 -- + 485 Held under repurchase agreements 111 + 111 + 111 U. S. Government securities: Bought outright—Bills 29,734 + 419 + 5,170 Certificates Notes 35,554 — + 2,372 Bonds 3,286 — + 400 Total bought outright 1/ 68,574 + 419 + 7,942 Held under repurchase agreements 2,589 +2,577 + 2,589 Total U.S. Government securities 71,163 +2,996 +10,531 Total loans and securities 73,360 +3,802 +12,420 Cash items in process of collection (3,428) 12,202 -1,161 + 874 Bank premises 151 + 1 + 23 Other assets 2/ 963 + 95 19 TOTAL ASSETS (4,313) 97,204 +2,744 +12,365 k I A 1 III II I £ S. Federal Reserve notes (885) 54,328 - Ill + 3,763 Deposits: Member bank--reserves account 29,288 +4,114 + 6,794 U. S. Treasurer--general account 1,955 - 76 + 684 Foreign 281 - 192 + 146 Other V 754 + 29 + 18 Total deposits 32,278 +3,875 + 7,642 Deferred availability cash items (3,428) 8,236 -1,132 + 847 Other liabilities and accrued dividends 631 + 58 + 71 TOTAL LIABILITIES (4,313) 95,473 +2,690 +12,323 £ £ L I 1 A k A C C O U N TS Capital paid in 740 2 + 38 Surplus 702 -- + 33 Other capital accounts 289 • 52 29 Contingent liability on acceptances purchased for foreign correspondents 255 — + * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $53 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, DECEMBER 29, 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 1,335 T95 7,039 +2,449 119 +111 16 days to 90 days 3 68 14,596 + 320 20 91 days to 1 year 15,635 + 27 182 Over 1 year to 5 years 25,100 181 Over 5 years to 10 years 7,664 61 Over 10 years -- -- 1,129 ~ 33 Total 1,338 263 71,163 +2,996 596 +111 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1tb) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 29, 1971 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 9,875 453 1,240 807 1,016 1,185 709 1,958 395 130 437 403 1,142 Special Drawing Rights certif. acct. 400 23 93 23 33 36 22 70 15 7 15 14 49 F.R. notes of other banks 885 120 142 59 49 69 154 59 33 27 35 38 100 Other cash 253 8 19 10 26 37 31 28 17 8 26 14 29 Discounts and advances | 1,338 47 681 27 120 79 35 259 * 12 7 i_ 70 Acceptances: Bought outright | 80 -- 80 -- -- — — -- -- — -- -- — • Held under repurchase agreements | 183 -- 183 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations- Bought outright 485 24 116 26 38 35 25 81 18 9 20 23 70 Held under repurchase agreements 111 -- 111 -- -- -- -- -- — — -- — — U.S. Government securities: Bought outright-- Bills ! 29,734 1,466 7,110 1,588 2,349 2,159 1,521 4,951 1,115 555 1,190 1 ,418 4,312 Certificates: Other -- -- -- -- -- -- -- -- -- -- -- — -- Notes 35,554 1,752 8,502 1,899 2,809 2,583 1,819 5,919 1,333 663 1,422 1 ,697 5,156 Bonds 3,286 162 786 175 260 239 168 547 123 61 131 157 477 Total bought outright V 68,574 3,380 16,398 3,662 5,418 4,981 3,508 11,417 2,571 _ ,279 2,743 3",2 72 9,945 Held under repurchase agreements 2,589 -- 2,589 -- -- -- -- -- -- -- -- -- -- Tofcal U.S. Government securities 71,163 3,380 18,987 3,662 5,418 4,981 3,508 11,417 2,571 r, 279 2,743 " 3"r2 7r~ 9,945 "~" Total loans and securities 73,360 3,451 20,158 3,715 5,576 5,095 3,568 11,757 2,589 1 ,300 2,770 3 ,296 10,085 Cash items in process of collection 15,630 805 2,877 838 1,069 1,095 1,805 2,277 811 863 866 1 ,046 1,278 Bank premises 151 2 8 3 24 13 16 17 15 19 17 9 8 Other assets 2/ 963 59 346 51 56 52 48 113 25 18 28 134 TOTAL ASSETS 101,517 4,921 24,883 5,506 7,849 7,582 6,353 16,279 3,900 2 ,372 4,194 4 ,853 12,825 1/ Includes $53 million securities loaned--fully by U.S. Government securities pledged with Federal Reserve Banks. 2/ 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 DECEMBER 29, 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 55,213 2,946 13,493 3,247 4,501 4,842 2,828 9,624 2,124 917 2,055 2,139 6,497 Deposits: Member bank reserves 29,288 1,027 8,038 1,213 1,991 1,493 1,802 4,235 959 790 1,178 1,687 4,875 U. S. Treasurer--general account 1,955 144 224 138 177 172 99 162 150 136 148 155 250 Foreign 281 12 1/ 96 13 23 13 17 38 8 6 10 14 31 Other 754 2 2/665 3 — 10 3 33 1 — 2 8 27 Total deposits 32,278 1,185 9,023 1,367 2,191 1,688 1,921 4,468 1,118 932 1,338 1,864 5,183 Deferred availability cash items 11,664 682 1,737 773 955 916 1,452 1,830 579 468 705 729 838 Other liabilities and accrued dividends 631 28 184 29 47 41 40 93 21 17 23 27 81 TOTAL LIABILITIES 99,786 4,841 24,437 5,416 7,694 7,487 6,241 16,015 3,842 2,334 4,121 4,759 12,599 CAPITAL ACCOUNTS Capital paid in 740 34 193 38 68 38 50 110 25 17 32 41 94 Surplus 702 33 185 36 63 36 47 105 24 16 30 39 88 Other capital accounts 289 13 68 16 24 21 15 49 9 5 11 14 44 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 101,517 4,921 24,883 5,506 7,849 7,582 6,353 16,279 3,900 2,372 4,194 4,853 12,825 Contingent liability on ace. eptances. purchased for forei- gn correspondents 255 12 3/ 67 13 23 13 17 38 9 6 11 14 32 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 3,110 14,007 3,337 4,677 4,959 3,037 9,904 2,213 949 2,126 2,277 6,831 Collateral for F. R. notes: Gold certificate account 175 500 300 350 485 700 155 5 U. S. Government securities 3,000 13,600 3,150 4,400 4,520 3,100 9,300 2,130 970 2,175 2,330 7,000 Total collateral 3,175 14,100 3,450 4,750 5,005 3,100 10,000 2,285 970 2,175 2,335 7,000 1/ After deducting $185 million participations of other Federal Reserve Banks. 7/ Includes IMF gold deposit. V After deducting $ 188 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis