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••iv^miti: FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release December 30, 1971 The average of daily figures for total reserves of member banks increased $759 million in the latest statement week to $31,951 million. Required reserves, excess reserves and member bank borrowings at the Federal Reserve Banks all increased. An increase in currency in circulation and Treasury deposits with the Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. Partially offsetting these reserve drains was an increase in float. In addition, System Open Market operations provided $625 million reserves net, on a weekly average basis primarily through repurchase agreements. Member bank borrowings averaged $ 216 million and were $142 million less than excess reserves. In the previous week, borrowings exceeded excess reserves by $132 million. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securitiesBought outright—System account Held under repurchase agreements Federal Agency obligations— Bought 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 <of daily figures Week ended Change from week ended Wednesday, Dec. 29, Dec. 22, Dec. 30, Dec. 29, 1971 1971 1970 1971 (Irl millions of dollars) 1 + 55 + 445 +6,899 + 391 485 43 + + 20 36 + + 485 35 485 111 78 80 + + 11 58 + + 22 66 80 183 216 + 72 54 1,338 + 4,046 1,114 78,520 10,132 400 7,619 96,671 61,492 459 1,955 281 754 2,362 67,303 29,368 5,830 35,198 31,593 3,605 68,453 533 + 213 + 108 4,684 1,096 75,667 10,132 400 7,634 93,832 61,448 448 2,336 471 708 2,301 67,712 +1 ,016 — — + 19 +1 ,034 + 206 2 + 441 + 45 28 + 67 + 729 41 1 +7,884 - 985 — + 463 f7,361 f4,024 f 39 f 1,131 f 309 3 + 70 +5,570 26,121 5,830 31,951 31,593 358 + + + + + fl,792 + 316 +2,108 +2,184 - 76 306 453 759 413 346 1/ 68,574 2,589 A net of $13 million of surplus reserves were eligible to be carried forward from the week ended December 22, into the week ending December 29. On December 29, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks .for foreign and international accounts were $27 ,549 million, a decrease of $148 million for the week. 1/ Includes $53 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Dec. 22, Dec. 30, Dec. 29, 1970 1971 1971 ASSETS — Gold certificate account 9,875 967 — — 400 Special Drawing Rights certif. accts. * 253 + 34 Cash (885) 7 + + 1,086 1,338 Discounts and advances + 510 80 + 24 5 Acceptances--Bought outright + 183 + 183 Held under repurchase agreements + 180 -Federal Agency obligatons—Bought outright 485 + 485 Held under repurchase agreements + 111 111 + 111 U. S. Government securities: + 5,170 29,734 + 419 Bought outright—Bills Certificates — Notes 35,554 + 2,372 — 3,286 + 400 Bonds + 7,942 Total bought outright 68,574 + 419 1/ Held under repurchase agreements +2,577 + 2,589 2,589 Total U.S. Government securities 71,163 +2,996 +10,531 Total loans and securities 73,360 +3,802 +12,420 (3,428) -1,161 12,202 Cash items in process of collection + 874 Bank premises 151 + 1 + 23 963 Other assets 2/ + 95 19 (4,313) 97,204 TOTAL ASSETS +2,744 +12,365 H.4.1(a) k I A 1 III II I £ S. Federal Reserve notes Deposits: Member bank--reserves account U. S. Treasurer--general account Foreign Other V Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES £ £ L I 1 A k A C C O U N T S Capital paid in Surplus Other capital accounts (885) 54,328 29,288 1,955 281 754 32,278 (3,428) 8,236 631 (4,313) 95,473 - Ill +4,114 - 76 - 192 + 29 +3,875 -1,132 + 58 +2,690 740 702 289 -- 2 • + 3,763 + 6,794 + 684 + 146 + 18 + 7,642 + 847 + 71 +12,323 + + 52 38 33 29 Contingent liability on acceptances purchased for foreign correspondents 255 — + * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $53 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. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 29, 1971 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Accept Federal Agency Discounts U. S. Government -ances obligations and securities Holdings Weekly Holdings Weekly Advances Changes changes T95 7,039 +2,449 Within 15 days 1,335 119 +111 68 14,596 + 320 16 days to 90 days 3 20 15,635 + 27 182 91 days to 1 year 25,100 181 Over 1 year to 5 years 7,664 61 Over 5 years to 10 years 33 Over 10 years --1,129 ~ 596 Total 1,338 263 71,163 +2,996 +111 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON H.4.1tb) Total Boston New York Philadelphia Cleveland Richmond Atlanta DECEMBER 29, 1971 Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) A S S E T S 9,875 400 453 23 1,240 93 807 23 1,016 33 1,185 36 709 22 1,958 70 395 15 130 7 437 15 403 14 1,142 49 885 253 120 8 142 19 59 10 49 26 69 37 154 31 59 28 33 17 27 8 35 26 38 14 100 29 | 1,338 47 681 27 120 79 35 259 * 12 7 i_ 70 | | 80 183 --- 80 183 --- --- — -- — -- --- --- — -- --- --- 485 111 24 -- 116 111 26 -- 38 -- 35 -- 25 -- 81 -- 18 — 9 — 20 -- 23 — 70 — ! 29,734 -- 1,466 -- 7,110 -- 1,588 -- 2,349 -- 2,159 -- 1,521 -- 4,951 -- 1,115 -- 555 -- 1,190 -- 1,418 — 4,312 -- 35,554 3,286 68,574 2,589 71,163 73,360 1,752 162 3,380 -3,380 3,451 8,502 786 16,398 2,589 18,987 20,158 1,899 175 3,662 -3,662 3,715 2,809 260 5,418 -5,418 5,576 2,583 239 4,981 -4,981 5,095 1,819 168 3,508 -3,508 3,568 5,919 547 11,417 -11,417 11,757 1,333 123 2,571 -2,571 2,589 663 61 _,279 -,279 1,300 15,630 151 963 805 2 59 2,877 8 346 838 3 51 1,069 24 56 1,095 13 52 1,805 16 48 2,277 17 113 811 15 25 863 19 18 866 17 28 1 ,046 9 1,278 8 134 101,517 4,921 5,506 7,849 7,582 6,353 16,279 3,900 2 ,372 4,194 4 ,853 12,825 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 obligationsBought outright Held under repurchase agreements U.S. Government securities: Bought outright-Bills Certificates: Other Notes Bonds Total bought outright Held under repurchase agreements Tofc al U.S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 1/ 2/ V 24,883 Includes $53 million securities loaned--fully by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies and IMF gold deposited. r — • -- 1,422 1,697 5,156 131 157 477 2,743 3",272 9,945 ---2,743 " 3"r27r~ 9,945 "~" 2,770 3 ,296 10,085 *Less than $500,000. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Phila- Clevedelphia land Richmond Atlanta DECEMBER 29, 1971 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 55,213 2,946 13,493 3,247 4,501 4,842 2,828 9,624 2,124 917 2,055 2,139 6,497 29,288 1,955 281 754 32,278 11,664 1,027 144 12 2 1,185 682 8,038 224 1/ 96 2/665 9,023 1,737 1,213 138 13 3 1,367 773 1,991 177 23 1,802 99 17 3 1,921 1,452 4,235 162 38 33 4,468 1,830 959 150 8 1 1,118 579 790 136 6 2,191 955 1,493 172 13 10 1,688 916 932 468 1,178 148 10 2 1,338 705 1,687 155 14 8 1,864 729 4,875 250 31 27 5,183 838 631 28 184 99,786 4,841 24,437 29 5,416 47 7,694 41 7,487 40 6,241 93 16,015 21 3,842 17 2,334 23 4,121 27 81 4,759 12,599 740 702 289 34 33 13 193 185 68 38 36 16 68 63 24 38 36 21 50 47 15 110 105 49 25 24 9 17 16 5 32 30 11 101,517 4,921 24,883 5,506 7,849 7,582 6,353 16,279 3,900 2,372 4,194 255 12 3/ 67 13 23 13 17 38 9 6 11 14 32 949 2,126 2,277 6,831 — — 41 39 14 94 88 44 4,853 12,825 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,110 14,007 3,337 4,677 4,959 175 500 300 350 485 3,000 13,600 3,150 4,400 4,520 3,175 14,100 3,450 4,750 5,005 1/ After deducting $185 million participations of other Federal Reserve Banks. 7/ Includes IMF gold deposit. V After deducting $ 188 million participations of other Federal Reserve Banks. 3,037 9,904 2,213 700 155 3,100 9,300 2,130 970 2,175 2,330 7,000 3,100 10,000 2,285 970 2,175 2,335 7,000 5
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