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FEDERAL '•.f^Ltt^- RESERVE factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release August 6, 1970 The average of daily figures of total reserves of member banks declined $64 million in the latest week to $28,091 million. Both required reserves and member bank borrowings at Federal Reserve Banks decreased while excess reserves increased by a modest amount. Reserves were absorbed in this latest statement week by a somewhat greater than seasonal decline in float and a rise in other Federal Reserve liabilities and capital. Additional reserves were drained by a seasonal increase in currency in circulation. These reserve declines were more than offset by System Open Market operations which supplied $583 million in reserves on a weekly average basis through outright sales and repurchase agreements in approximately equal amounts. Member bank borrowings averaged lower than in the past four weeks and exceeded excess reserves by $878 million compared to the revised figure of $1,137 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: Averas'es of daily figures Week ended Chang e from week ended Wednesday, Aug. 6, Aug. 5, July 29, Aug. 5, 1970 1970 1969 1970 (ITi millions of: dollars) ! 1/ + 293 +4,422 58,597 58,560 247 + 247 - 184 832 33 i_ 33 15 161 37 10 -10 3 12 37 38 1,009 , 222 -- 603 40 199 47 81 -!- 40 + 151 -1,251 210 -- -1-3,067 +1,000 + + + + + 5 215 99 1 5 17 + 259 +4,726 + + 32 120 40 2,379 1,354 63,669 11,367 400 6,998 82,435 54,587 461 1,054 190 790 2,337 59,417 23,017 5,074 28,091 27,960 131 + + + 400 + 262 - 48 16 64 - 101 + 37 +3,467 - 202 + 187 + 37 + 314 + 219 +4,020 + 704 + 345 +1,049 +1,169 j - 120 1 2,369 1,392 64,069 11,367 400 6,999 82,835 54,848 459 754 169 804 2,356 59,390 23,445 5,074 28,519 27,960 A net of $141 million of surplus reserves were eligible to be carried forward from the week ended July 29, into the week ending August 5. \J Includes $21 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On August 5, 1970, U. S. Government securities held in custody by the Federal Reserve Bank for foreign account were $12,128 million, an increase of $402 million for the week. 559 H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Aug. 5, July 29, ' Aug. b, 1969 1970 1970 A S S E T S -+1,018 11,045 Gold certificate account — + 400 400 Special Drawing Rights certif. accts. + 53 + 5 Cash 207 (787) - 173 - 509 643 Discounts and advances Acceptances: -4 37 Bought outright 8 38 38 Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements 161 161 91 U, S. Government securities : Bought outright— 23,290 +3,848 259 Bills Certificates 32,420 +1,867 Notes Bonds -1,256 2,887 Total bought outright +4,459 + 259 1/ 58,597 Held under repurchase agreements + 159 •f 832 832 Total U. S. Government securities 59,429 +4,618 +1,091 Total loans anfl securities 60,308 +1,117 +4,188 Cash items in process of collection (2,351) 9,691 + 617 + 529 Bank premises -121 + 7 Other assets 2/ + 62 -1,231 1,271 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,138) 83,043 +1,801 +4,964 LIABILITIES 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 C a p i t a l paid in Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents (787) 48,193 261 +3,060 23,445 +1 ,124 - 284 2 + 37 + 875 + 543 + 52 +1 ,731 + 687 + 169 + 16 + 336 +1,208 + 488 + 115 +4,871 754 169 804 (2,351) 25,172 7,322 (3,138) 81,314 627 687 669 373 1 + + + 25 39 29 22 261 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Includes $21 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. 100 — 69 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 5, 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 Discounts and Federal Agency obligations Acceptances advances Holdings Weekly changes 4,206 :4,060 ^ Within 15 days 598 33 10,269 + 170 45 16 days to 90 days -— 13,782 + 22 91 days to 1 year — Over 1 year to 5 years •s 25,395 — Over 5 years to 10 years jars 5,314 Over 10 years — — 624 Total 59,590 +1,252 643 37 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 5, 1970 Total Boston New PhilaYork delphia St. Cleve- RichAtlanta Chicago mond land Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) ASSETS Gold certificate account Special Drawing Rights certif. acct. 11,045 400 816 23 1,499 93 701 23 910 33 897 36 570 22 2,069 70 451 15 230 7 537 15 539 14 1,826 49 F. R. notes of other banks Other cash 787 207 75 8 163 23 72 8 59 25 54 13 124 30 30 28 20 12 33 7 41 16 23 13 93 24 Discounts and advances Acceptances: 643 53 68 15 114 10 14 252 35 40 7 26 9 37 38 --- 37 38 --- --- — -- --- --- -— . T-- -- --- --- 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/ \J 2/ i in i r ii 161 23,290 -_ 32,420 2,887 58,597 832 59,429 60,308 1,188 5,959 --1,654 8,296 739 147 14,994 2,989 -832 15,826 2,989 3,042 16,130 1,174 -1,633 145 2,952 — 2,952 2,967 1,779 -2,477 221 4,477 -4,477 4,591 1,746 -2,430 216 4,392 -4,392 4,402 1,261 -1,755 156 3,172 -3,172 3,186 3,734 -5,197 463 9,394 — 9,394 9,646 847 -1,179 105 2,131 -2,131 2,166 464 -646 57 1,167 — 1,167 1,207 917 -1,277 114 2,308 — 2,308 2,315 964 -_ 1 ,342 120 2 ,426 -Z~,426 2 ,452 3,257 _4,534 404 8,195 -8,195 8,204 2,225 9 478 704 2 58_ 834 9 82 885 11 73 1,128 17 57 1,955 17 167 609 11 36 468 8 21 743 18 41 712 8 56 1,108 9 138 4,701 20,620 4,535 6,543 6,371 5,134 L3,982 3,320 1,981 3,726 3 ,817 11,451 12,042 121 1,271 86,181 TOTAL ASSETS . — \J 161 671 2 64 • - •*• Includes $21 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks, Includes assets denominated in foreigh currencies and IMF gold deposited. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 5, 1970 Total Boston New York 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 accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ac(:eptances purchased for fore]i-gn correspondents Rich- Atlanta Chicago Phila- Clevemond delphia land (In millions of dollars) St. Louis Minneapolis Kansas City San Dallas Francisco 48,980 2,809 11,472 2,760 3,994 4,364 2,587 8,638 1,859 856 1,831 1,818 5,992 23,445 1,119 6,244 1,039 1,561 1,017 1,387 3,357 110 45 9 5 44 15 3 94 9 12 53 11 4 41 25 14 927 146 7 4 36 9 3 55 22 21 25,172 9,673 1,130 1,098 1,623 1,132 1,455 1,332 4,237 730 734 951 3,437 1,549 1,084 560 650 37 4 6 697 378 4,139 2 8 1 721 91 6 3 821 559 1,284 754 169 804 717 550 904 649 1/ 44 2/728 7,126 1,392 627 31 173 29 46 45 32 96 22 12 24 25 92 84,452 4,619 20,163 4,447 6,393 6,275 5,025 13,720 3,261 1,943 3,656 3,725 11,225 687 669 373 32 32 18 183 177 97 35 34 19 61 60 29 35 34 27 45 43 21 101 99 62 23 23 13 16 15 7 29 28 13 39 37 16 88 87 51 86,181. 4,701 20,620 4,535 6,543 6,371 5,134 13,982 3,320 1,981 3,726 3,817 11,451 17 39 9 6 15 34 8,945 1,946 887 1,968 6,316 1,000 155 22 ;..„._26i_ ^ 12 11 69 _____ ________ 23 _______ 1_1_ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 1/ __/ __/ 2,927 12,001 2,833 4,186 4,491 1,935 — 250 500 300 510 580 2,730 11,600 2,700 3,750 3,970 2,900 8,250 1,880 875 1,975 1,980 6,500 2,980 12,100 3,000 4,260 4,550 2,900 9,250 2,035 897 1,975 1,985 6,500 After deducting $ 125 m i l l i o n participations of other Federal Reserve Banks. Includes IMF gold deposit. After deducting $ 1 9 2 m i l l i o n participations o f other Federal Reserve Banks. 2,742 5
@FedFRASER