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FEDERAL RESERVE -?fS^fx Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release December 16, 1971 The average of daily figures for total reserves of member banks increased $289 million in the latest statement week to $31,021 million. Required reserves increased while excess reserves and member bank borrowings at the Federal Reserve Banks both declined. A seasonal increase in float and declines in both Treasury deposits with the Federal Reserve Banks and other Federal Reserve liabilities and capital were the major factors supplying reserves in the latest statement week. These reserve gains were partially offset by a seasonal rise in currency in circulation. In addition, System Open Market operations absorbed $187 million reserves net, on a weekly average basis. Most of this absorption was through the maturing of repurchase agreements made in the previous week and matched sale-purchase transactions made in the current week. Member bank borrowings averaged $27 million and were $48 million less than excess reserves compared to $54 million in 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 obligationsBought outright Held 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 Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held Required reserves Excess reserves NOTE: Averages o f daily figures Week ended Change frorri week endedWednesday Dec. 15, Decz. 8, 1 Dec. 16, Dec. 15, ;L971 1971 1 1970 1971 (Iri m i llions c>f dollars) 68,421 -- - \y i/ 61 88 +7,195 - 508 -31 + 340 79 340 — 3 10 + 13 51 66 — 27 33 • 372 29 3,350 927 73,124 10,132 400 7,602 91,257 61,040 457 1,563 143 710 2,219 66,132 + 266 340 -59 -- 25,125 5,896 31,021 30,946 75 + - + + + + + 34 82 — -8 89 472 1 186 10 7 179 110 - 21 + + + + 310 + 289 + 328 - 39 67,692 — + 423 79 +6,881 - 985 — + 478 +6,373 +4,076 + 28 + 800 + 8 24 80 +4,808 3,820 983 72,930 10,132 400 7,614 91,076 61,271 462 2,127 173 709 2,198 66,940 +1,565 + 418 +1,983 +2,028 - 45 24,136 5,896 30,032 30,946 - 914 A net of $147 million of surplus reserves were eligible to be carried forward from the week ended December 8, into the week ending December 15. On December 15, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $26,740 million, an increase of $874 million for the week. V Excludes $850 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. l_i Includes $29 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 Dec. 15, Dec. 8, Dec. 16, 1971 1970 1971 ASSETS 959 ,875 Gold certificate account 400 Special Drawing Rights certif. accts. + 33 (715) + 8 2 52 Cash 904 56 29 Discounts and advances + 15 + 10 66 Acceptances--Bought outright 134 26 Held under repurchase agreements 340 + 340 Federal Agency obligation—Bought outright 93 - 191 Held under repurchase agreements U. S. Government securities: 28,852 - 850 +3,294 Bought outright—Bills Certificates — 35,554 +2,581 Notes — + 480 3,286 Bonds - 850 +6,355 1/ 2/ 67,692 Total bought outright — -1,416 Held under repurchase agreements - 219 67,692 +4,939 Total U.S. Government securities -1,069 68,127 -1,234 +4,065 Total loans and securities 13,273 +2,061 +1,298 Cash items in process of collection (3, 78) + 22 + 2 Bank premises 150 Other assets 3/ 833 + 52 81 TOTAL ASSETS (3,993) 92,910 + 889 +4,378 LIABILITIES^ Federal Reserve notes Deposits: Member bank--reserves account U. S. Treasurer—general account Foreign Other 4/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES £ A I 1 1 £ L A C C O U N T S Capital paid in Surplus Other capital accounts 54,114 24,056 2,127 + 252 -1,544 +1,191 173 709 14 70 (3,278) 27,065 9,533 - 437 +1,305 588 21 39 (3,993) 91,300 +1,099 :-4,315 (715) 738 702 170 1 — - 211 +3,730 -1,763 +1,540 f 28 20 + + + 215 839 40 33 10 Contingent liability on acceptances 17 purchased for foreign correspondents 255 1 + * Figures in parentheses are the eliminations made in the consolidating process* \J Excludes $850 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. _2/ Includes $29 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies and IMF gold deposited. 4/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, December 15, 1971 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Federal Agency Discounts Accept U. S. Government obligations and -ances securities Holdings Weekly Holdings Weekly Advances Changes changes Within 15 days 26 18 2,796 •1,094 -93 16 days to 90 days 3 26 48 15,336 14 91 days to 1 year + 1 120 15,667 + 169 Over 1 year to 5 years + 1 127 25,100 - 130 Over 5 years to 10 years - 2 44 7,664 Over 10 years ^Z. 23 Z2_ 1,129 z z Total 29 340 66 67,692 -1,069 ^93 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Philadelphia Cleveland 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-Bought outright Held under repurchase agreements U.S. Government securities: Bought outright-Bills Certificates: Cash items in process of collection Bank premises Other assets 3/ TOTAL ASSETS 1/ ~2/ 3/ Atlanta 0 in millions A S £ E T £ Notes Bonds Total bought outright Held under repurchase agreements Total U.S. Government securities Total loans and securities Richmond St. Louis Kansas City Dallas San Francisco of dollars) 3,510 93 605 23 546 33 843 36 631 22 1,961 70 446 15 231 7 329 15 403 14 44 49 715 252 102 7 122 21 52 7 26 28 51 38 134 31 37 29 21 15 22 7 33 25 26 14 89 30 15 3 -- 66 -- — -- -- -- -- -- -- -- --- --- 340 17 -- 81 -- 18 -- 27 -- 25 -- 17 -- 57 -- 13 -- 6 -- 14 -- 16 -- 49 -- 28,852 -- 1,422 -- 6,899 -- 1,541 -- 2,280 -- 2,095 -- 1,476 -- 4,804 -- 1,082 -- 539 -- 1,155 -- 1,376 -- 4,183 -- 35,554 3,286 67,692 -67,692 68,127 1,752 162 3,336 -_ 3,336 3,353 8,502 786 16,187 -16,187 16,349 1,899 175 3,615 -3,615 3,635 2,809 260 5,349 -5,349 5,376 2,583 239 4,917 -4,917 4,943 1,819 168 3,463 -3,463 3,480 5,919 547 11,270 -11,270 11,328 1,333 123 2,538 -2,538 2,552 663 61 1,263 -1,263 1,270 1,422 131 2,708 -2,708 2,727 1,697 157 3,230 -3,230 3,249 5,156 477 9,816 — 9,816 9,865 16,551 150 833 956 2 52 2,870 8 304 812 3 43 1,159 24 48 1,261 13 45 1,835 16 32 2,612 17 97 907 15 22 751 19 15 953 16 24 969 9 29 1,466 8 122 96,903 4,821 23,277 5,180 7,240 7,230 6,181 16,151 3,993 2,322 4,122 4,713 11,673 Excludes $850 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $29 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. Minneapolis 326 23 66 -- 1/2/ Chicago 9,875 400 29 | | DECEMBER 15, 1971 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 15, 1971 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis Kansas City San Dallas Francisco (In millions of dollars) 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 ace eptances purchased for forei-gn correspondents 54,829 2,936 13,390 3,220 4,490 4,806 2,774 9,551 2,117 907 2,051 2,115 6,472 24,056 2,127 173 709 27,065 12,811 854 98 7 2 961 821 6,380 381 1/ 56 2/ 645 7,462 1,867 1,069 100 8 2 1,179 667 1,477 106 14 1 1,598 959 1,194 95 8 14 1,311 985 1,653 133 11 2 1,799 1,471 3,759 298 24 9 4,090 2,169 933 139 5 2 1,079 720 559 279 4 842 524 1,050 185 7 2 1,244 737 1,578 132 9 3 1,722 760 3,550 181 20 27 3,778 1,131 588 29 95,293 4,747 141 22,860 31 5,097 47 7,094 42 7,144 98 30 6,074 15,908 22 3,938 13 2,286 24 4,056 28 4,625 83 11,464 25 24 6 17 16 3 31 30 5 41 39 8 94 88 27 16,151 _. 3,993___2j322__4 J 122_„ 4,713 11,673 738 702 170 34 33 7 192 185 40 38 36 9 68 63 15 38 36 12 50 47 10 96,903 4,821 23,277 5,180 J7,240 7,230 6,181 255 12 13 23 13 17 3/ 67 110 105 28 38 -._ 6 11 14 32 932 2,114 2,241 6,793 9 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securiti es Total collateral 56,897 3,074 13,858 3,306 4,661 4,922 2,670 175 500 300 350 485 55,500 58,170 2,920 3,095 13,600 14,100 3,150 3,450 4,400 4,750 4,485 4,970 1/ After deducting $117 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. 3/ After deducting $ 188 million participations of other Federal Reserve Banks. 2,978 — 3,100 3,100 9,819 2,199 700 155 9,300 10,000 2,130 2,285 — 960 960 — 2,175 2,175 5 2,280 2,285 — 7,000 7,000
@FedFRASER