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FEDERAL '••f^URE^.' RESERVE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release August 27, 1970 The average of daily figures of total reserves of member banks decreased $368 million in the latest week to $28,161 million. Excess reserves increased while required reserves and member bank borrowings at Federal Reserve Banks both declined. Several factors were sources of sizeable reserve gains in this latest statement week. A greater than seasonal decline in currency in circulation provided $215 million in reserves. Declines both in Treasury deposits with Federal Reserve Banks and in other deposits with Federal Reserve Banks supplied additional reserves. These reserve increases were in part offset by declines in float and in other Federal Reserve assets. In addition, System Open Market operations absorbed $322 million in reserves net, on a weekly average basis. Member bank borrowings remained at about the same level as in the past week and exceeded excess reserves by $535 million compared to the revised figure of $598 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 obligationsHeld 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 Averages of daily figures Week ended Change from week ended Wednesday, Aug. 26, Aug. 19, I Aug. 27, Aug. 26, 1970 1970 1970 1969 (In millions of dollars) 1/ 59,618 209 452 +5,196 68 50 8 37 — 29 4 6 37 — - 544 + 7 + 299 -1,647 +3,224 +1,000 + 400 + 273 +4,897 +3,408 - 231 + 150 + 48 + 322 + 198 +3,895 +1,001 + 251 +1,252 +1,339 87 1,044 59,679 660 7 2,481 1,068 63,931 11,367 + _ - 20 18 177 231 770 -— 400 7,011 82,709 54,702 + 451 + - 1,045 - 187 786 + 2,231 59,402 23,307 4,854 28,161 28,036 + - 125 + - 5 765 215 9 124 8 135 56 402 364 4 368 411 43 2,349 64 ,135 11 ,367 400 7 ,013 82,915 54,730 463 937 189 749 2,252 59,320 23,596 4,854 28,450 28,036 414 NOTE: A net of $82 million of surplus reserves were eligible to be carried forward from the week ended August 19, into the week ending August 26. 1/ Includes $27 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On August 26, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $12,452 million, an increase of $253 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Aug. 27, Aug. 19, Aug. 26, A S S E T S Gold certificate account Special Drawing Rights certif. accts. * Cash (905) Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligationsHeld under repurchase agreements U. S. Government securities : Bought outright-Bills Certificates Notes Bonds 1/ Total bought outright Held under repurchase agreements ~~ Total U. S. Government securities Total loans and securities Cash items in process o f collection (2,581) Bank premises Other assets 2/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,486) LIAiltlllEs Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign (905) Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES £ £ £ 11 ^1 £ £ £ £ £ N T S Capital paid TrT ~ Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents * 1/ 2/ 3/ 1,044 + 2 + 198 +1,018 + 400 + 62 - 421 37 .«. «, 30 3 20 21 27 110 +4-, 326 110 244 - 134 + 13 -1,008 +2,047 -1,436 44,937 - 219 +4,718 44,247 + 573 + 8 -1,637 — 24,311 32,600 2,707 59,618 59j_618 120 +416/1 48,068 193 +2,872 23,596 + 65 - 104 + 17 - 128 - 150 - 829 14 -1,186 +1,005 937 189 749 Other 3/ --- 11,045 400 211 1969 1970 1970 (2,581) 25,471 6,734 (3,486) 80,887 614 688 669 281 255 __ -- <- 16 .+ 51 + 267 +1,307 + 299 + 111 +4,589 73 + + + 24 39 19 -- + 96 Figures in parentheses are the eliminations made in the condolidating process. Includes $27 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. Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. AUGUST 26. 1970 (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 advances Acceptances Holdings „ Weekly changes Within 15 days 1,041 16 3,189 -368 16 days to 90 days 3 21 11,655 +303 91 days to 1 year -— 13,420 - 90 Over 1 year to 5 years — — 25,266 Over 5 years to 10 years — — 5,464 Over 10 years — — 624 -Total 1,044 37 59,618 "^B5* H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 26, .970 Total ASSETS Gold certificate account Special Drawing Rights certif. acct. Boston New Cleve- RichPhilaAtlanta Chicago mond York delphia land (In millions of dollars) St. 1 Minneapclis Louis 1 Kansas City Dallas ™*San Francisco • 730 23 2,274 93 600 23 989 33 962 36 556 22 2,204 70 379 15 243 7 454 15 711 14 943 49 905 211 96 8 179 24 75 10 52 24 66 14 152 29 40 30 30 12 38 7 46 15 25 13 106 25 1,044 Discounts and advances Acceptances: 37 Bought outright Held under repurchase agreements ' Federal Agency obligations-i Held under repurchase agreements U. S. Government securities: Bought outright— 24,311 Bills __ Certificates Notes 32,600 Bonds 2,707 Total bought outright 1/ 59,618 Held under repurchase agreements ~~ __ Total U. S. Government securities 59,618 Total loans and securities 60,699 15 481 23 65 26 16 206 11 3 8 14 176 --- 37 -- --- -— --- --- --- --- --- -— --- --- __ -- -- -- -- -- -- -- _- 1,240 -1,663 138 3,041 -3,041~ 3,056 6,221 -8,342 693 15,256 -15,256 15,774 1,225 -1,643 136 3,004 1,316 -1,764 147 3,227 -3,227 3,243 3,898 -5,226 434 9,558 -9,558 9,764 884 -1,185 98 2,167 -2,167 2,178 484 -649 54 _ ,187 -,187 i ,190 957 -1,284 107 2,348 -2,348 2,356 1,006 — 1,350 112 2,468 -2,468 2,482 3,400 -4,560 378 8,338 __ 8,338 8,514 11,664 122 965 686 2 48 1,977 9 405 612 2 42 864 10 60 837 11 52 1,159 1,866 17 17 42_ 110 543 11 26 431 8 15 794 18 33_ 777 8 35 1,118 9 97 86,011 4,649 20,735 4,391 6,652 6,473 5,220 14,101 3,194 i ,939 4,065 10,861 F. R. notes of other banks Other cash Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS \J 2/ 11,045 400 | „_ 3,004 3,027 1,857 1,823 — -2,491 2,443 203 207 4,555 4,469 --4,555~4","469~ 4,620 4,495 r 3,731 Includes $27 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. -He) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE HAHK CM AUGUST 26, 1970 Total 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 accnted dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace eptances purchased for forei gn correspondents Boston New York Phila- Cleve- Rich- Atlanta 1Chicage | St. Minne: delphia! land Louis apolis mond of dollars) (In millions Kansas City San Dallas Francisco 2,795 11,510 2,760 4,006 4,359 2,552 '8,651 1,855 853 1,836 1,831 5,965 23,596 1,064 937 52 189 9 749 25,471 i 1,125 620 9,315 6,364 142 1/ 53 1/683 7,242 1,391 967 56 10 2 1,035 483 1,612 67 17 3 1,699 757 1,134 104 9 15 1,262 718 1,470 86 12 2 1,570 961 3,488 65 27 11 3,591 1,516 759 50 6 3 818 443 622 31 4 4 661 376 1,030 119 8 4 1,161 642 1,448 60 10 3 1,521 600 3,638 105 24 19 3,786 808 614 84,373 32 4,572 157 20,300 30 4,308 47 6,509 44 6,383 33 5,116 97 13,855 22 3,138 13 1,903 24 3,663 25 3,977 90 10,649 688 669 281 32 32 13 183 177 75 35 34 14 61 60 22 35 34 21 45 43 16 88 87 37 20,735 4,391 6,652 6,473 5,22© 16 15 5 1,939 39 37 12 4,649 24 23 9 3,194 29 28 11 86,011 101 99 46 14,101 3,731 4,065 10,861 255 12 U 67 13 23 13 16 38 9 6 11 14 33 8,957 1,950 891 1,933 1,979 6,311 1,Q@Q 155 22 48,973 FEDERAL RESERVE AUNTS' ACCOGTSTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 1/ 2/ 3/ 11,980 2,838 4,165 4,490 250 500 300 510 580 2,730 11,600 2,700 33,750 3,970 2, 8.250 1.880 885 1,975 2,030 6,750 2,980 12,100 3,000 34,260 4,550 2, §,250 2,035 907 1,975 2,035 6,750 After deducting $136 million participations of other Federal Reserve Banks. Includes IMF gold deposit. After deducting $188 million participations of other Federal Reserve Banks. 2,724 2,913 — 5
@FedFRASER