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aSSSSfc-. FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release H.4.1 December 17, 1970 The averages of daily figures of total reserves of member banks increased $305 million to $29,015 million in the latest week. Excess reserves declined while required reserves and member bank borrowings at Federal Reserve Banks both increased. The major factors absorbing reserves in this latest statement week were a greater than seasonal rise in currency in circulation and an increase in Treasury deposits with Federal Reserve Banks. Several factors added to reserves in small amounts. In addition, System Open Market operations supplied $588 million in reserves net, on a weekly average basis. Member bank borrowings averaged $399 million and exceeded excess reserves by $300 million compared with $153 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 Averages of daily figures Week ended Change from week ended Wednesday, Dec. 16, Dec. 9, 1 Dec. 17, Dec. 16, 1970 1970 | | 1970 1969 (Iri millions of dollars) + 328 + 258 +3,947 + 376 79 + 24 + 55 191 46 51 + 6 28 13 + 33 51 134 645 934- 61,226 508 - 399 + 108 2,909 1,006 66,225 11,117 103 28 + 621 400 7,124 84,866 56,964 429 763 135 734 2,299 61,324 23,542 5,473 29,015 28,916 99 «. + — -- + 9 + 631 + 398 13 + 129 3 + 17 64 + 463 + 167 + 138 + 305 + 344 39 • - 141 -1,128 +2,485 + 750 + 400 + 283 +3,918 ! +3,439 j - 227 - 212 1/ 61,337 1,416 3,128 1,042 68,233 11,117 400 7,174 86,924 57,190 431 587 145 729 14 + 297 + 173 +3,456 + 462 + 537 + 999 + 997 j + 2 2,174 61,256 25,667 5,473 31,140 28,916 2,224 NOTE: A net of $122 million of surplus reserves were eligible to be carried forward from the week ended December 9, into the week ending December 16. On December 16, 1970 marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $11,077 million^ decrease of $141 million for the week. •1/ Includes $50 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. 17, Dec. 9, Dec. 16, 1969 1970 1970 A S S E T S 10,834 + 798 Gold certificate account 400 + 400 Special Drawing Rights certif. accts. 219 + 1 Cash + 108 (748) 934 + 649 Discounts and advances + 251 Acceptances: + 10 9 51 Bought outright Held under repurchase agreements + 134 134 + 91 Federal Agency obligations-+ 134 191 Held under repurchase agreements + 191 U. S. Government securities : Bought outright— +3,217 25,558 Bills +1,400 Certificates +1,581 32,973 Notes - 690 2,806 Bonds +4,108 -hi, 400 Total bought outright 1/ 61,337 +1,118 Held under repurchase agreements 1^416 +1,416 Total U. S. Government securities +5,226 +2,816 62,753 Total loans and securities +5,693 +3,800 64,063 Cash items in process of collection +1,970 + 174 11,822 (2,894) Bank premises — + 13 128 Other assets 2/ -1,228 + 29 914 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,642) +5,958 +5,800 88,380 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 Capital paid in ~ Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents (748) 50,384 + 177 +3,097 25,667 +4,543 - 243 + 27 +2,300 - 274 + 17 + 279 +2,322 + 475 + 13 +5,907 587 145 729 (2,894) 27,128 8,694 <3,642) 86,833 627 698 669 180 238 24 +4,303 +1,520 + 23 +6,023 + - 3 — 226 + + 19 + Figures in parentheses are the eliminations mad£ in the consolidating proce ss. Includes $50 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. 2/ 3/ Includes IMF gold deposit. * 1/ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 16, 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 advances Acceptances Weekly changes Holdings 142 Within 15 days 932 +2,561 4,337 43 + 625 11,911 16 days to^ 90 days 2 21,286 - 179 91 days to 1 year Over 1 year to 5 years 18,812 Over 5 years to 10 years 5,966 Over 10 years 632 Total 934* 62,944 +3,007 185 31 39 91 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 16, 1970 Total ASSETS Gold certificate account Special Drawing Rights certif. acct. Boston New Phila- Cleve- Rich- Atlanta Chicago mond York delphia land St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) \ 10,834 400 647 23 2,267 93 580 23 872 33 1,114 36 501 22 2,379 70 301 15 214 7 267 15 405 14 1,287 49 F. R. notes of other banks Other cash 748 219 92 8 149 19 38 10 30 25 49 13 173 31 31 31 18 12 21 7 31 17 20 14 96 32 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 934 434 13 1 * 15 367 1 6 7 .._ 90 --- -__ --- --_ _ 25,558 — 32,973 2,806 61,337 1,416 62,753 64,063 Cash items in process of collection Bank premises Other assets 1/ 2/ 14,716 128 914 TOTAL ASSETS 1/ 2/ 51 134 — -- 51 134 --- --- __ __ --- --- 191 -- 191 -- -- -- -- -- 1,322 6,288 1,332 ---1,706 8,113 1,718 146 690 145 3,173 15,091 3,196 — -- 1,416 3,173 16,507 3,196 3,173 17,317 3,209 2,021 -2,606 222 4,849 -4,849 4,850 1,955 — 2,522 215 4,692 _4,692 4,692 3,182 3,197 4,098 -5,286 450 9,834 -9,834 10,201 946 — 1,221 104 2,271 — 2,271 2,272 500 — 645 55 ,200 -,200 1 ,206 92,022 813 2 48 1,326 1,710 146 3,182 __ r r 1,012 --. 1,306 111 2,429 -2,429 2,436 1,156 -1,492 127 2,775 -2,775 2,775 3,602 -4,648 395 8,645 -8,735 2,606 8 368 762 3 42 1,099 12 60 1,028 1,453 11 17 51 39 2,411 17 107 815 12 25 559 12 14 964 18 30 923 8 35 1,283 8 95 4,806 22,827 4,667 6,981 6,994 5,433 15,247 3,470 2 ,040 3,778 4,194 11,585 Includes $50 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. *Less than $500,000. §7641 H.4.1(c) 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 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 16, 1970 Phila- CleveRich- Atlanta Chicago St. Minnedelphia land mond Louis apolis (In millions of dollars) San Kansas. Dallas FranCity cisco Total Boston New York 51,132 2,904 12,080 2,922 4,198 4,582 2,638 8,951 1,946 874 1,876 1,924 6,237 25,667 587 145 729 27,128 11,588 1,019 42 6 1 1,068 731 7,592 12 1/ 46 2/681 8,331 1,827 963 36 7 2 1,008 628 1,597 45 12 1,654 944 1,244 74 7 9 1,334 952 1,471 3,994 7 96 9 20 1 5 1,488 4,115 1,177 1,854 782 51 5 1 839 611 657 12 3 2 674 446 1,009 64 6 3 1,082 732 1,426 45 7 2 1,480 679 3,913 103 17 22 4,055 1,007 627 90,475 30 4,733 181 22,419 30 4,588 47 6,843 43 6,911 31 94 5,334 15,014 21 3,417 12 2,006 24 3,714 26 4,109 88 11,387 698 669 180 33 32 8 184 177 47 36 34 9 63 60 15 36 34 13 104 99 30 24 23 6 16 15 3 29 28 7 39 37 9 88 87 23 92,022 4,806 22,827 4,667 6,981 6,994 5,433 15,247 3,470 2,040 3,778 4,194 11,585 238 12 3/ 63 12 21 10 13 31 1,945 2,049 6,572 12_ 46 43 10 16 ___35_. 8 5^ FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,019 12,633 2,985 4,336 4,681 250 500 300 510 610 2.820 3,070 12.400 12,900 2.800 3,100 3.900 4,410 4.160 4,770 y After deducting $ 99 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $175 million participations of other Federal Reserve Banks. 2,828 — 2.900 2,900 9,256 2,028 1,000 155 8.450 9,450 1.930 2,085 907 5 930 930 1.975 1,975 2.080 2,085 7.000 7,000
@FedFRASER