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FEDERAL RESERVE •$^£f-' Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release April 8, 1971 The average of daily figures of total reserves of member banks declined $293 million in the latest statement week to $29,686 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve Banks all declined. A rise in currency in circulation of $318 million, and increases in Treasury deposits with the Federal Reserve Banks and other deposits with the Federa Reserve Banks were the major factors absorbing reserves in the latest statement week. A rise in float was the major factor offsetting these reserve drains. In addition, System Open Market operations supplied $215 million in reserves net, on a weekly average basis. Member bank borrowings averaged $198 million and were $89 million less than excess reserves, compared to $163 million for the previous week. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securities— Bought outright--System account Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements Acceptances Bought outright Held under repurchase agreements Discounts and advances-Member bank borrowings Other Float Other F. R. assets Total Reserve Bank credit Gold stock Special Drawing Rights certif. acct. Treasury currency outstanding Currency in circulation Treasury cash holdings , Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. liabilities and capital Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held Required reserves Excess reserves NOTE: Averages of daily figures Week ended Change from week ended Wed nesday, Ap ril 7, April 7, March 31, April 8, 1971 1970 1971 1971 : (Iri millions of dollars) 1/ + 128 62,709 +7,035 2/ 62,216 + 472 17 + 422 -87 56 60 47 + + 3 20 198 59 -- -- 2,727 1.010 67,318 10,732 400 7,268 85,718 56,428 489 1,048 148 828 2,281 61,222 24,496 5.190 29,686 29,399 287 + 202 + 44 + 401 --- + + + + + 13 414 318 14 242 14 + 134 +_ 83 + 778 - 364 71 + - 293 - 160 - 133 L 84 — 1 51 53 47 - 298 40 - 739 -1.143 +5,370 - 635 177 + -- -- + 361 +5,096 +3,710 87 - 108 66 53 + 6J. +3,459 +1,637 + 340 +1,977 +1,869 + 108 j 3,671 1.Q26 67,190 10,732 400 7.274 85,596 56,864 503 824 163 1,015 2 r 363 61,732 23,865 5,190 29,055 29,399 - 344 A net of $177 million of surplus eserves wei•e e ligible to be carr ied forward from the week ended March 31, into the week ending April 7. On April 7, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $15,952 million, an increase of $822 million for the week. V Excludes $575 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions,, 27 Includes $38 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions o f dollars) Change since Wednesday March 3l, April 8, April 7, 1970 1971 1971 A S S E T S Gold certificate account 581 10,464 * 400 — -Special Drawing Rights certif. accts. Cash 3 (918) + 75 265 Discounts and advances - 268 - 214 177 Acceptances: ... Bought outright 53 5 Held under repurchase agreements + 47 38 47 Federal Agency obligations— _— .... Held under repurchase agreements • 185 U. S. Government securities : Bought outright-Bills 25,013 +4,337 625 Certificates Notes 34,031 — +1,958 Bonds — 3,172 + 357 Total bought outright +6,652 - 625 1/2/ 62,216 Held under repurchase agreements -1,319 Total U. S. Government securities +6,652 62,216 -1,944 Total loans and securities +6,426 62,493 -2,381 Cash items in process of collection +1,214 11,236 2,405) +1,381 Bank premises + 1 + 17 135 Other assets 3/ -1,164 + 28 891 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS 3,323) - 974 +5,987 85,884 H.4.1(a) k I £L ! Ik 11 1% S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other 4/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 50,089 576 +3,598 23,865 -2,030 824 163 34 38 (2,405) 1,015 25,867 7,565 (3,323) 84,113 + 221 -1,881 + 223 + 46 -1,036 +1,920 - 185 + 19 + 114 +1,868 + 393 + 81 +5,940 (918) 592 C A P I T A L ACCOUNTS 718 + -»1 C a p i t a l p a i d in — + 702 Surplus 61 351 Other capital accounts Contingent liability on acceptances purchased 249 6 + for foreign correspondents * Figures in parentheses are the eliminations made in the consolidating process, 1/ Excludes $575 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $38 million securities loaned—fully secured by U.S Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies and IMF go Id deposited. 4/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 7, 1971 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities and Federal Agency obligations Discounts and Acceptances advances Holdings Weekly changes Within 15 days 2,730 176 -1,704 55 16 days to 90 days 14,686 + 272 1 45 91 days to 1 year ~__ - 695 14,239 Over 1 year to 5 years -_2 23,617 Over 5 years to 10 year s --6,080 Over 10 years 864 — Total 62,216 -2,129 Tff 100 37 33 23 75 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 7, 1974 Total New Phila- Cleve- RichAtlanta Chicago Boston York delphia land mond St Louis Minneapolis Kansas City Dallas (In millions of dollars) ASSETS Gold certificate account Special Drawing Rights certif. acct. San Francisco 10,464 400 859 23 1,565 93 685 23 760 33 988 36 638 22 2,187 70 473 15 154 7 427 15 492 14 1,236 49 918 265 112 10 213 23 29 9 48 28 47 16 323 36 20 36 14 15 9 7 24 28 16 16 63 41 __ Discounts and advances 177 Acceptances: i 53 Bought outright __ 1 47 Held under repurchase agreements — Federal Agency obligations— -Held under repurchase agreements — U. S. Government securities: Bought outright— 25,013 1,253 Bills — -Certificates Notes 34,031 11,705 159 Bonds 3,172 Total bought outright 1/2/ 62,216 3,117 --Held under repurchase agreements Total U. S. Government securities 62,216 3.117 62,493 3,117 Total loans and securities 4 * «_ 3 m* mm 1 2 * _. 53 47 — -- --- -- — -- -- --- — -- — -- — -- -_ -- -- -- -- -- -- -- -- — 1,938 -2,638 246 4,822 -4.822 1,876 -2,552 238 4,666 -4.666 4,669 1,224 -1,664 155 3,043 — 3.043 3,043 941 4,044 --5,502 1 ,281 513 119 10,059~2 ,341 — — 10.059 2 .341 10,226 2 ,341 493 -671 63 1,227 -1.227 1,228 977 -1,329 124 ,430 I -2_.430 2 ,432 1,166 -1,586 148 2,900 -2.900 2,900 3,417 -4,649 433 8,499 -8.499 8,499 1,288 17 34_ 2,085 17 112 643 13 26 463 14 17 842 18 28 772 9 34 1,149 8 96 5,401 14,753 3 ,540 1,899 3 ,814 4,253 11,141 F. R. notes of other banks Other cash Cash items in process of collection Bank premises Other assets 3/ TOTAL ASSETS 13,641 135 891 700 2 49 89,207 4,872 6,385 __ 8,686 810 15,881 -15,881 15,985 1,299 3,231 3,231 3,147 8 343 724 3 41 892 15 55 936 11 56 21,377 4,745 6,653 6,759 1,768 164 3,231 l,m mm a . 167 V Excludes $575 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions, 2/ Includes $38 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. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Phila- Clevedelphia land Richmond Atlanta APRIL 7, 1971 Chicago San Dallas Francisco St. Louis Minneapolis 1,956 877 1,884 1,945 6,209 506 69 3 1 579 393 1,045 1,483 3,522 105 6 2 103 8 3 59 17 25 1,158 1,597 678 593 3,623 926 Kansas City (In millions of dollars) L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accriled dividends TOTAL LIABILITIES CAPITA). ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for foreign correspondents 51,007 2,864 12,196 2,935 4,141 4,559 2,517 8,924 23,865 1,228 6,091 1,078 1,491 1,169 1,578 3,732 824 163 55 6 6 1,015 25,867 9,970 * 1,289 611 1/ 63 2/ 9 50 7,110 1,479 9 7 2 76 12 1 1,096 1,580 599 736 108 7 15 1,299 764 108 9 2 1,697 1,049 53 20 6 3,811 1,666 942 73 5 8 1,028 476 592 26 130 24 40 37 25 82 19 12 154 4,790 20,915 4,654 6,497 6,659 5,288 14,483 3,479 1,861 20 3,740 23 87,436 4,158 10,912 718 702 351 33 33 16 188 185 89 37 36 18 65 63 28 37 36 27 49 47 17 108 105 57 24 24 13 16 16 6 31 30 13 40 39 16 90 88 51 89,207 4,872 21,377 4,745 6,653 6,759 5,401 14,753 3,540 1,899 3,814 4,253 11,141 249 12 3/ 66 13 22 13 17 37 8 6 10 14 31 9,189 2,032 902 1,968 2,068 6,439 1,000 155 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 1/ 2/ 3/ 12,845 2,999 4,293 4,674 250 500 300 510 500 2.840 12.600 2.800 3,900 4.210 2,900 8,450 1,930 930 2,025 2,130 7,000 3,090 13,100 3,100 4,410 4,710 2,900 9,450 2,085 930 2,025 2,135 7,000 After deducting $100 million participations of other Federal Reserve Banks. Includes IMF gold deposit. After deducting $183 million participations of other Federal Reserve Banks. TJW 3,008 * 5 Less than $500,000.
@FedFRASER