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FEDERAL RESERVE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks For immediate release H.4.1 April 9, 1970 The average of daily figures of total reserves of member banks decreased $130 million in the latest statement week to $27,641 million. Required reserves increased while both excess reserves and member bank borrowings decreasedo A considerably greater than seasonal rise in float,due in part to recent transportation delays, was the major factor supplying reserves in this latest week. In addition, a significant amount of reserves were provided by a decline in Treasury deposits with Federal Reserve banks. These sources of reserves were in good part offset by a seasonal increase in currency in circulation and by System Open Market operations which absorbed $265 million in reserves net on a weekly average basis. These absorptions were through outright sales of Treasury bills, and a reduction in the level of repurchase agreements. Member bank borrowing exceeded excess reserves by $394 million compared to the revised figure of $640 million for the previous week. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securitiesBought outright—System account Held under repurchase agreements Special Certificates Federal Agency obligationsHeld under repurchase agreements AcceptancesBought outright Held under repurchase agreements Discounts and advancesMember 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 Averages of daily figures Week ended Change from week ended April 8, April 1, April 9, 1970 1970 1969 (IrI millions of dollars Wednesday April 8, 1970 - 40 -182 +3,665 - 161 96 1/55,564 5 - 37 12 -- 57 9 + 5 - 13 1- 5 24 58 496 40 3,400 2,153 61,882 11,367 400 6,907 80,556 52,718 576 1,156 214 881 2,218 57,763 -454 - 451 + 40 +1,122 - 623 +3,466 +1,000 + 400 + 166 +5,032 +2,952 - 134 + 779 + 59 + 332 + 217 +4,205 405 40 2,825 2,173 61,065 11,367 400 6,912 79,744 52,958 577 1,009 144 901 2,235 57,824 55,674 50 -- — +542 + 28 -150 --- + 5 -145 +155 + 2 -125 - 24 + 61 + 67 +135 --- -- Member bank reserves: With Federal Reserve Banks 22,794 -279 + 828 21,920 Currency and coin 4,847 +149 + 214 4,847 Total reserves held 27,641 -130 +1,042 26,767 Required reserves 27,539 + 78 +1,165 27,539 Excess reserves 102 -208 - 123 - 772 NOTE: A net of $192 million of surp! -i a A forward from the week ended April 1, into the week ending April 8. ]V Includes $16 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On April 8, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,224 million, an increase of $113 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since April 9, April 8, April 1, 1969 1970 1970 A S S E T S -Gold certificate account +1,020 11,045 * — Special Drawing Rights certif. accts. + 400 400 Cash 15 190 3 (701) + - 168 - 213 Discounts and advances 445 Acceptances: Bought outright 58 Held under repurchase agreements 30 Federal Agency obligations— Held under repurchase agreements 34 U. S. Government securities Bought outright— Bills 221 +3 ,143 20,676 I Certificates - Special 519 - Other Notes +2,027 32,073 Bonds -1,572 2,815 - 221 +3,079 Total bought outright 1/ 55,564 - 216 Held under repurchase agreements - £3.7 Total U. S. Government securities +3,Q79_ 55,564 - 669 Total loans and securities 56,067 +2,872 Cash items in process of collection - 444 (2,302) 9,997 +1,259 Bank premises 2 + 4 118 + Other assets 2) + I_2_ 2,055 - 6U TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,003) 79,ft72 zL•096 +4.923 kl A 1 III LI I £ I Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other y Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (701) 46,491 (2,302) 21,920 1,009 144 901 23 ,974 7,172 511 (3,003) 78,148 + 243 +2,689 916 48 68 7 + 178 +1,002 -1,039 - 350 14 •1,160 8 + 342 +1 ,514 + 512 + 82 +4,797 C A P I T A L A C C O U N T S Capital paid in 681 — + 37 Surplus 669 — + 39 Othier capital accounts 374 + 6 4 + 50 Contingent liability on acceptances purchased for foreign correspondents 174 + 4 + 5 2 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $16 million securities loaned—fully secured by U.S. Government securitie 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, April ft, 1Q70 (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 Weekly changes Holdings Acceptances advances Within 15 days -241 2,500 17 398 16 days to 90 days -247 22,019 47 41 .. -91 days to 1 year 9,504 + 17 --13,976 Over 1 year to 5 yearsi --Over 5 years to 10 years irs 6,953 Over 10 years -612 — -- Total 44T 58 55,564 -471 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON H.4.1(b) Total Boston New York Philadelphia Cleveland Richmond APRIL 8, 1970 St Atlanta Chicago Louis Minneapolis San Kanisas Francisco Dallas City (In millions of dollars) A S S E T S 512 23 2,625 762 33 70 383 15 217 7 380 15 409 14 1,738 36 663 22 1,714 93 627 23 1,015 400 F. R. notes of other banks Other cash 701 190 77 8 180 24 23 6 56 20 49 12 124 27 20 25 18 12 12 7 30 12 24 12 88 25 Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright 1/ Held under repurchase agreements Total U. S. Government securities Total loans and securities 445 159 38 27 4 12 48 50 6 37 49 6 9 — 58 -- — -- — -- — — --- — -- — -- — -- --_ --_ -__ ——. __ 995 5,376 -._-. 1,098 : 32,073 1 ,542 8,339 732 136 ! 2,815 55,564 h~2"Jo7T 14,447 -— — 14,447 55,564 ~~2 56,067 2 ,832 14,543 1,702 Cash items in process of collection Bank premises Other assets 2J I 12,299 ! 118 2,055 Gold certificate account Special Drawing Rights certif. acct. TOTAL ASSETS i' 2/ 11,045 58 — — ... 20,676 -- 1,654 1,542 -._. -2,567 2,392 1,081 1,677 3,401 —. 5,274 149 225 210 147 463 2,949 4,446 4,144 2,905 _- — — — -_ — 735 ... 1 ,141 100 399 __ 619 54 9,138 ~~r797F~ 1,072 ~TJ976~ I ,982 1,072 1,109 — — — 778 882 «... 1 ,208 «... 1 ,369 106 TrusT" — 2 ^092~ 2 ,141 2,949 2,976 4,446 4,450 4,144 4,156 2,905 2,953 9,138 9,188 684 3 99 849 7 158 909 12 111 1,143 1,979 9 692 17 110 17 278 576 10 63 451 6 38 800 18 75 4 ,309 20,481 4,441 6,335 6,300 5,059 13,291 3.,059 1,847 3 ,471 grT 82,875 ... __ 756 2 99 2,315 Includes $16 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies and IMF gold deposited. 49 2,735 .. _ 4,243 120 373 T Tmr 7,351 — 2 3n~ 7,351 2 ,377 7,360 673 8 94 1,164 9 238 3 ,611 10,671 H.4.1(c) 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 accrvled dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for foreiLgn correspondents STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 8, 1970 Kansas City San Dallas Francisco 820 1,754 1,706 5,766 662 62 5 1 730 467 18 547 49 3 1 600 379 11 932 61 6 5 1,004 623 19 1,147 88 7 3 1,245 547 22 3,452 214 17 19 3,702 907 70 13,030 3,000 1,810 3,400 3,520 10,445 45 43 19 100 99 62 23 23 13 15 15 7 29 28 14 38 37 16 87 87 52 5.059 13.291 3.059 1.847 3.471 3.611 10.671 11 26 4 7 10 23 1,810 1,818 6,054 Phila- CleveRich- Atlanta Chicago St. Minnedelphia land mond Louis apolis (In millions of dollars) Total Boston New York 47,192 2,698 11,084 2,663 3,856 4,233 2,522 8,305 1,785 21,920 1,009 144 901 23,974 9,474 511 765 71 6 1 843 662 24 6,442 108 1/ 45 2/ 841 7,436 1,370 133 1,026 55 7 6 1,094 571 26 1,523 48 12 1 1,584 704 41 1,066 116 7 12 1,201 733 38 1,351 83 9 4 1,447 957 26 3,007 54 20 7 3,088 1,554 83 81,151 4,227 20,023 4,354 6,185 6,205 4,952 681 669 374 32 32 18 182 177 99 34 34 19 61 60 29 35 34 26 82,875 4.309 20.481 4.441 6.335 6.300 174 8 3/ 46 9_ 15 9_ 6_ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral \_l 2/ 3/ 2,804 11,608 2,728 4,017 4,355 2,686 8,540 1,861 852 250 500 300 510 545 -- 1,000 155 27 2,600 2,850 11,400 11,900 2,620 2,920 3,750 3,860 4,260 4,405 2,800 2,800 7,950 8,950 1.780 835 862 After deducting $ 99 million participations of other Federal Reserve Banks, Includes IMF gold deposit. After deducting $ 128 million participations of other Federal Reserve Banks. 1,935 5 1.875 1,875 1.930 1,935 6.500 6,500
@FedFRASER