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FEDERAL RESERVE *m "••?«£V H.4.1 Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release August 26, 1971 The average of daily figures for total reserves of member banks declined $540 million in the latest statement week to $30,129 million. Required reserves, excess reserves and member bank borrowings at the Federal Reserve Banks all declined, An increase in 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. A seasonal decline in currency in circulation partially offset this reserve drain. In addition, System Open Market operations provided $292 million of reserves net, on a weekly average basis, through outright purchases of Treasury bills. Member bank borrowings declined to an average level of $771 million and exceeded excess reserves by $662 million compared to $891 million for the previous week. It should be noted that $80 million is being added currently to Wednesday data, as well as weekly average data, for preliminary figures on float, reserves at Federal Reserve Banks and excess reserves. Therefore, Wednesday data on this page will differ from Wednesday data ,on the following pages for float and reserves at Federal Reserve Banks. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, August 25, August 18, August 26, August 25, and related items 1971 1971 1971 1970 Reserve Bank credit: (In millions of dollars) U.S. Government securities— Bought outright—System account 66,353 +6,674 i/66,406 + 397 Held under repurchase agreements - 101 — — Federal Agency obligations— Held under repurchase agreements — 10 Acceptances u Bought outright 53 6 1- 16 52 Held under repurchase agreements Discounts and advances-Member bank borrowings - 409 771 + 111 1,801 Other 7 Float + 26 2,769 + 270 2,497 Other F. R. assets - 318 726 - 342 772 Total Reserve Bank credit - 408 70,673 +6,724 71,528 Gold stock 10,132 --1,235 10,132 ---. 400 Special Drawing Rights certif. acct. 400 7,465 Treasury currency outstanding 8 + + 454 7,466 88,670 - 400 +5,943 89 ,526 - 237 Currency in circulation 58,875 +4,173 58 ,854 Treasury cash holdings 479 4 6 + 28 488 1,153 Treasury deposits with F. R. Banks + 108 1 ,375 + 115 184 + 8 Foreign deposits with F. R. Banks 3 135 681 49 Other deposits with F. R. Banks - 105 689 + 2,253 Other F. R. liabilities and capital + 22 63 2 r275 63,625 94 +4,223 63 ,816 Member bank reserves: With Federal Reserve Banks 25,044 - 306 +1,719 25 ,710 Currency and coin 5,085 - 234 + 233 5,,085 Total reserves held 30,129 - 540 +1,952 30, 795 Required reserves 30,020 - 360 +1,981 30,020 Excess reserves 109 - 180 29 775 NOTE: A net of $135 million of surplus reserves were eligible to be carried forward from the week ended August 18, into the week ending August 25. On August 25, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $20,005 million, an increase of $282 million for the week. 1/ Includes $22 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Aug. 26, Aug. 18, Aug. 25, 1970 1971 1971 A S S E T S -1,170 9,875 Gold certificate account Special Drawing Rights certif. accts. 400 Cash 274 (887) + 63 Discounts and advances 1,801 + 678 + 757 Acceptances: Bought outright 52 15 Held under repurchase agreements Federal Agency obligationsHeld under repurchase agreements 68 U. S. Government securities : Bought outright-Bills 28,708 + 464 +4,397 Certificates Notes — 34,513 +1,913 Bonds .— + 478 3,185 Total bought outright + 464 +6,788 1/ 66,406 Held under repurchase agreements 250 Total U. S. Government securities +~ 214 66,406 +6,788 Total loans and securities + 824 +7,560 68,259 Cash items in process of collection (2,905) - 1 ,276 9,878 + 727 Bank premises 146 + 24 Other assets 2/ + 23 626 - 339 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,792) 59,458 +6,865 Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T A L ACCOUNTS Capital paid in Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents (887) 51,893 279 +3,825 25,630 1,375 + 570 + 191 31 30 + 700 - 908 7 - 494 +1 ,966 + 438 54 60 +2 ,290 + 727 29 813 +6, 135 689 (2,905) 27,829 7,461 (3,792) 87,768 585 + + 734 702 254 62 247 1 * \J Figures in parentheses are the eliminations made in the consolidating process. Includes $22 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. AUGUST 25. 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 Discounts and Federal Agency obligations advances Acceptances Holdings Weekly changes Within 15 days 13 1,798 4,113 -550 16 days to 90 days 3 39 17,434 +518 91 days to 1 year — — 15,341 +178 Over 1 year to 5 years --23,240 •s Over 5 years to 10 years sars — — 5,377 Over 10 years -_ — — 901 Total 1,801 66,406 +146 52 - 46 33 27 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 25, 1971 • A S S E T S Gold certificate account Special Drawing Rights certif. acct. F. R. notes of other banks Other cash 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 Note 6 Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 1/ 2/ ii ii m m Cleve- RichAtlanta Chicago land mond (In millions of dollars) St. Louis Minneapolis Kansas City Boston 9,875 400 317 23 2,053 93 439 23 746 33 901 36 481 22 1,999 70 351 15 156 7 410 15 551 14 1,471 49 887 274 107 8 149 23 60 9 64 24 85 35 167 34 35 39 25 17 32 7 37 27 31 16 95 35 1,801 81 1,139 10 26 65 107 219 - 5 /. 137 52 " _. 52 -- -- --- --- --- --- --- --- — -- — -- --- --- -- - 7,403 1,521 2,230 2,072 1,430 4,728 1,059 586 1,131 1,280 3,833 -- -- -- -- -- -- 2,680 247 5,157 2,491 230 4,793 5,685 525 10,938 1,273 117 2,449 705 65 1,356 1,360 126 2,617 Philadelphia Dallas> 1 128,708 -- 34,513 3,185 JL/ 66,406 -- 1,435 " 1,724 159 3,318 -- 8,900 821 17,124 1,828 169 3,518 — 1,720 159 3,309 — 1,538 142 2,960 -- 4,609 425 8,867 -- -- -- -- -- 3,518 3,528 5,157 5,183 4,793 4,858 3,309 3,416 10,938 11,157 2,449 2,456 1,356 1,357 2,617 2,622 2,960 2,964 8,867 9,004 2,017 8 259 689 3 30 895 20 33 1,010 13 34 1,316 16 21 2,065 17 67 673 14 15 513 18 10 829 18 17 891 9 19 1,105 8 81 4,676 22,917 4,781 6,998 6,972 5,473 15,449 3,566 2,100 3,975 4,495 11,848 — -- 66,406 [3,318 17,124 68,259 3,399 18,315 12,783 ! 780 146 ! 2 626 ! 40 93,250 — — — — — — Includes $22 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. San Francisco Total New York H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON LIAB.ILI_T1E£ Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accnted dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Kansas City San Dallas Francisco 901 1,984 2,077 6,356 871 37 4 1 913 558 633 76 3 2 714 435 1,101 83 5 2 1,191 705 1,562 81 7 2 1,652 649 4,154 123 15 23 4,315 ' 880 95 15,193 21 3,509 13 2,063 24 3,904 26 4,404 81 11,632 ' Rich- Atlanta Chicago Phila- Clevemond delphia land (In millions of dollars) St. Louis Minneapolis 9,241 2,017 1,591 104 8 3 1,706 1,075 3,989 126 18 3 4,136 1,721 42 6,879 29 5,364 Boston New York 52,780 2,895 12,742 3,045 4,313 4,655 2,554 25,630 1,375 135 689 27,829 10,366 913 67 5 1 986 686 6,919 470 1/ 47 2/640 8,076 1,509 1,009 63 6 1 1,079 539 1,558 120 11 1,689 799 1,330 25 6 11 1,372 810 30 585 91,560 4,597 148 22,475 30 4,693 46 6,847 Total AUGUST 25, 1971 734 702 254 34 33 12 191 185 66 38 36 14 67 63 21 38 36 19 50 47 12 109 105 42 25 24 8 17 16 4 31 30 10 41 39 11 93 88 35 93,250 4,676 22,917 4,781 6,998 6,972 5,473 15,449 3,566 2,100 3,975 4,495 11,848 ; Contingent liability on ace:eptances purchased for forei gn correspondents 247 12 3/ 65 13 22 _13_ 16 8 6 10 14 31 9,542 2,110 939 2,076 2,224 6,754 1,000 155 37 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,057 13,271 3,127 4,499 4,803 200 500 300 500 530 2.920 13,000 3,000 4,100 4,375 2,900 8,750 2,030 960 2,125 2,280 7,000 3,120 13,500 3,300 4,600 4,905 2,900 9,750 2,185 960 2,125 2,285 7,000 1/ After deducting $ 88 million participations of other Federal Reserve Bahks. 2/ Includes IMF gold deposit. 3/ After deducting $182 million participations of other Federal Reserve Banks. 2,748 5
@FedFRASER