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;oFGoi,-- '••*«£«&*:•' FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release H.4.1 August 5, 1971 The average of daily figures for total reserves of member banks increased $336 million in the latest statement week to $30,938 million. Required reserves declined while excess reserves and member bank borrowings at the Federal Reserve Banks increased. A decline in float was the major factor absorbing reserves in the latest statement week. Treasury deposits with Federal Reserve Banks also declined and more than offset this reserve drain. In addition, System Open Market operations provided $116 million of reserves net, on a weekly average basis, through outright purchases of Treasury bills and repurchase agreements, Member bank borrowings averaged $765 million and exceeded excess reserves by $294 million compared to $469 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 NOTE: Averages of daily figures Week ended Chang e from week ended Wednesday, Aug. 4, July 28, Aug. 4, 1 Aug5, 1971 1971 1 1970 1971 (Iri millions of dollars) 65,822 + 307 + 101 40 +7 ,262 + 60 1/65,841 1,215 53 14 20 160 54 14 3 8 + + 17 4 51 47 220 _ - 245 40 + 187 - 132 +7 ,132 -1 ,035 657 -2,378 1,281 71,630 10,332 7,446 89,808 765 — 2,608 1,222 70,845 10,332 A. -- 168 + 35 + 204 — — -- 7,443 89,020 + 203 — + 443 +6 ,540 58,691 + 484 1,121 - 174 746 + + 2,322 63,538 + 8 4 262 37 38 86 96 +4 ,103 + 23 + 67 16 44 15 -H,120 2,393 63,439 25,482 5,456 30,938 30,467 + 299 + 37 +2, 422 + 374 +2, 796 +2, 513 + 283 26,370 5,456 31,826 30,467 1,359 400 471 - + - + 336 59 395 400 58,930 481 733 178 724 A net of $18 million of surplus reserves were eligible to be carried forward from the week ended July 28, into the week ending August 4. On August 4, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $18,452 million, an increase of $194 million for the week. \J Includes $82 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. 4, July 2H, Aug. 5, 1970 1971 1971 A S S E T S 970 10,075 Gold certificate account Special Drawing Rights certif. accts. * 400 Cash (842) 268 2 + 61 Discounts and advances 124 657 + 14 Acceptances: + 14 51 3 Bought outright + Held under repurchase agreements 47 47 + 9 Federal Agency obligations-160 Held under repurchase agreements + 160 U. S. Government securities : Bought outright— Bills 28,252 +4,962 79 Certificates Notes 34,354 +1,934 Bonds + 348 3,235 Total bought outright +7,244 + 1/ 65,841 79 Held under repurchase agreements + 383 ~ 1^215 +1 ,215 Total U. S. Government securities +7,627 +1 ,294 67,056 Total loans and securities +7,663 +1 ,374 67,971 Cash items in process of collection + 520 + (2,833) 96 10,289 Bank premises + 23 144 Other assets 2y + 76 - 134 1,137 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS +7,163 (3,675) 90.284 ±L,544 k 1 A 1 III 11 I £ 1 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 (842) (2,833) (3,675) 51,975 + 137 +3,782 26,370 733 178 724 28,005 7,911 621 88,512 +1,714 - 680 + 29 + 2 +1,065 + 200 + 79 +1,481 +2,847 21 + 9 80 +2,755 + 589 6 +7,120 £ £ I 1 1 £ L ACCOUNTS Capital~paid in*" Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents * Figures in parentheses are the eliminations made in the 1/ Includes $82 million securities loaned--fully secured securities pledged with Federal Reserve Banks. 2/ Includes assets denominated in foreign currencies and 3/ Includes IMF gold deposit. 731 702 339 + — 63 229 + 1 •>«• consolidating process by U.S. Government IMF gold deposited MATURITY DISTRIBUTION OF LOANS AND SECURITIES. AUGUST 4, 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 655 60 5,836 +1,318 16 days to 90 days 2 38 13,421 + 95 91 days to 1 year — — 17,559 + 41 Over 1 year to 5 years "S •— 23,600 Over 5 years to 10 »ars --5,907 Over 10 years — -— 893 Total 657 67,216 +1,454 98 + + 44 33 34 32 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 4, 1971 • Philadelphia i ii Cleve- RichAtlanta Chicago land mond i (In millions of dollars) St. Louis Minneapolis Kansas City San Francisco Total Boston New York Gold certificate account Special Drawing Rights certif. acct. 10,075 400 431 23 1,711 93 475 23 508 33 887 36 483 22 2,073 70 332 15 95 7 372 15 473 14 2,235 49 F. R. notes of other banks Other cash [ j 842 268 102 8 160 21 58 8 61 26 77 35 159 33 33 39 21 16 32 6 35 26 25 17 79 33 657 27 123 34 29 88 298 8 9 8 32 * --- -— --- -— — — -— --- 1,496 2,193 2,039 1,407 3,773 Dall as A S S E T S 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 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/ 51 ' 47 — — 51 47 160 - 160 28,252 -- 34,354 ! 3,235 1/ 65,841 1,215 67,056 67,971 1,412 — 1,716 162 3,290 7,286 -- — 1,820 171 3,487 — — — — — — 4,654 1,042 577 1,114 1.,259 -- -- -- -- -- -- 5,658 533 10,845 1,267 119 2,428 702 66 1,345 1,354 127 2,595 1.,531 144 2.,934 4,587 432 8,792 -- -- -- -- -- -- -- -- 3,290 3,317 8,859 834 16,979 1,215 18,194 18,575 3,487 3,487 5,113 5,147 4,753 4,782 3,280 3,368 10,845 11,143 2,428 2,436 1,345 1,354 2,595 2,603 2.,934 2 ,966 8,792 8,793 13,122 144 1,137 781 2 62 2,188 8 383 699 3 59 935 19 70 999 13 71 1,277 16 47 2,186 17 147 675 14 33 518 17 18 825 18 35 818 9 52 1,221 8 160 93,959 4,726 23,139 4,812 6,799 6,900 5,405 15,708 3,542 2,047 3,929 t\^,374 12,578 -- — 2,668 252 5,113 -- --- — 2,480 234 4,753 1,712 161 3,280 Includes $82 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. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON 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 Tot a1 deposits Deferred availability cash items Other liabilities and accrued 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 AUGUST Rich- Atlanta Chicago Phila- Clevemond delphia land (In millions of dollars) 4, 1971 St. Louis Minneapolis Kansas City San Dallas Francisco 52,817 2,909 12,694 3,060 4,294 4,672 2,569 9,223 2,027 904 1,987 2,076 6,402 26,370 733 178 724 28,005 10,744 951 7,346 40 128 7 1/ 72 3 2/ 628 1,001 8,174 705 1,622 996 36 7 4 1,043 585 1,455 22 13 2 1,492 812 1,206 69 7 15 1,297 792 1,575 54 10 6 1,645 1,050 4,165 70 22 30 4,287 1,834 841 31 5 2 879 555 586 51 3 4 644 448 1,104 44 6 5 1,159 688 1,485 59 8 3 1,555 621 4,660 129 18 22 4,829 1,032 621 92,187 30 4,645 185 22,675 31 4,719 45 6,643 40 6,801 28 5,292 93 15,437 21 3,482 12 2,008 23 3,857 26 87 4,278 12,350 731 702 339 33 33 15 191 185 88 38 36 19 66 63 27 38 36 25 50 47 16 109 105 57 25 24 11 17 16 6 31 30 11 93,959 4,726 23,139 4,812 6,799 6,900 5,405 15,708 3,542 2,047 3,929 229 11 3/ 60 12 20 12 15 34 8_ 5_ 41 39 16 92 88 48 4,374 12,578 10 13 2,075 2,212 22. FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,065 13,277 3,132 4,467 4,817 2,746 9,528 2,118 250 500 300 500 530 -- 1,000 155 2,920 13,000 3,000 4,000 4,375 2.900 8,750 2,030 960 2,125 2,280 7.000 3,170 13,500 3,300 4,500 4,905 2,900 9,750 2,185 960 2,125 2,285 7,000 1/ After deducting $106 million participations of other Federal Reserve Bahks. 2/ Includes IMF gold deposit. 3/ After deducting $ 169 million participations of other Federal Reserve Banks. 942 — — 6,738 5
@FedFRASER