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o* G ow'-. FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release December 9, 1971 The average of daily figures for total reserves of member banks declined $507 million in the latest statement week to $30,732 million. Required reserves, excess reserves and member bank borrowings at the Federal Reserve Banks all declined. A decline in Treasury deposits with the Federal Reserve Banks was the major factor supplying reserves in the latest statement week. This reserve gain was about offset by a seasonal rise in currency in circulation. In addition, System Open Market operations absorbed $71 million reserves net, on a weekly average basis. Most of this absorption was through the maturing of repurchase agreements made previously. Some reserves were supplied during the statement week, however, through outright: purchases of coupon issues and repurchase agreements. Member bank borrowings were below the average of recent weeks and were $54 million less than excess reserves. In the previous week they exceeded excess reserves by $143 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 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 of daily figur es Week ended Change from week. ended Wednesday, Dec. 8, Dec • 1, Dec. 8, Dec. 9, 1971* 1971 1970 1971 * (Irl mi!.lions of dollars) 1/ 68,482 + 88 - 340 31 + 56 10 + 60 3,079 892 73,036 10,132 - - 456 1,749 133 717 2,398 66,016 25,146 5,586 30,732 30,618 114 +7 ,584 - 162 68,542 92 48 + 340 - 24 340 93 1 43 + 16 69 56 26 230 85 66 86 3,005 +7 ,432 73,287 10,132 - • 641 + + - 64 33 617 -— 400 7,594 91,162 60,563 249 322 + 3 - 614 + 137 3 - 145 36 15 •+ 70 + 7 + - 985 219 921 -- 400 + 479 +6 ,927 +3 ,997 + 14 +1 ,115 5 7,592 91,411 60,964 -- 463 936 187 779 + 35 +5 ,155 2,428 65,757 - +1 ,771 + + 243 25,654 5,586 31,240 30,618 621 114 - 507 63 - 444 +2 ,014 +2 ,036 22 622 A net of $272 million of surplus reserves were eligible to be carried forward from the week ended December 1, into the week ending December 8. On December 8, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $25,866 million, an increase of $1,266 million for the week. 2_/ Includes $79 million securities loaned —fully secured by U.S. Government securities pledged with Federal Reserve Banks. * Estimated( Chicago District). CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Dec. 9, Dec. 8, * Dec. 1, 1971 1970 1971 A S S E T S 959 ,875 Gold certificate account 400 Special Drawing Rights certif. accts. 26 (703) 10 244 Cash 200 + 21 85 Discounts and advances 15 56 + Acceptances--Bought outright 26 26 26 + Held under repurchase agreements 340 + 340 Federal Agency obligations—Bought outright 93 93 93 Held under repurchase agreements U. S. Government securities: 29,702 +5,544 + 351 Bought outright—Bills Certificates +2,581 35,554 + 88 Notes + 480 3,286 + 16 Bonds +8,605 1/ 68,542 + 455 Total bought outright + 219 219 I 219 Held under repurchase agreements 68,761 +8,824 + 674 Total U.S. Government securities 69,361 +9,098 + 814 Total loans and securities (2,421) 11,543 +1,711 + 473 Cash items in process of collection + 20 1 148 Bank premises 112 773 40 Other assets 2/ (3,124) 92,344 +1,236 +9,784 TOTAL ASSETS H.4.1(a) 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 (703) 53,822 25,574 936 187 779 27 ,476 8 ,618 610 + 687 + 83 + 11 (3,124) 90,526 +1,172 +9,736 63 42 33 27 (2,421) C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts 737 702 379 Contingent liability on acceptances purchased for foreign correspondents 256 * JL/ 2/ 3/ ** +3,615 +4,470 + 106 + 69 + 26 +4 ,671 +1 ,444 + 391 +2,197 -1,631 + 59 + 62 + 6 18 + Figures in parentheses are the eliminations made in the consolidating process. Includes $79 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. Includes IMF gold deposit. Estimated. (Chicago District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, December 8, 1971 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Accept U. S. Government Federal Agency Discounts -ances obligations securities and Holdings Weekly Holdings Weekly Advances Changes changes 3,890 +596 Within 15 days 82 43 93 +93 15,350 -103 16 days to 90 days 3 39 26 + 2 15,498 + 87 91 days to 1 year 119 - 2 25,230 + 21 Over 1 year to 5 years 126 + 67 7,664 Over 5 years to 10 years 46 + 6 1,129 Over 10 years ^Z. 23 82 68,761 433 +93 Total 85 +674 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Phila- Clevedelphia land Richmond DECEMBER 8, 1971 i< Atlanta Chicago St. Louis Kansas City Minneapolis 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 acceptances purchased for foreign correspondents 54,525 2,918 13,326 3,189 4,463 4,785 2,741 9,473 2,105 903 2,044 2,108 U,H/U 25,574 936 187 779 27,476 11,039 949 57 9 1,055 52 9 1 1,117 593 1,404 56 16 1,547 38 12 3 1,600 1,258 4,559 66 23 2 51 646 457 1,108 140 8 2 1,258 689 1,592 76 10 3,819 1,868 979 83 6 1 1,069 618 594 47 4 1,476 810 1,182 84 9 13 1,288 829 3,669 119 27 1,015 709 6,936 118 1/ 54 2/ 701 7,809 1,569 1,680 599 4,699 1,030 610 93,650 30 4,672 153 22,857 32 4,931 48 6,797 43 6,945 31 5,640 100 15,260 22 3,814 14 2,020 24 4,015 28 4,415 85 12,284 737 702 379 34 33 17 192 185 97 38 36 20 68 63 31 38 36 27 50 47 20 109 105 61 25 24 14 17 16 7 31 30 11 41 39 18 94 88 56 95,468 4,756 23,331 5,025 6,959 7,046 5,757 15,535 _ 3 A 8 . 7 7 _ 2,060 4,087 4,513 12,522 256 12 13 23 13 17 6 11 14 32 937 2,099 2,240 6,763 — 3/ 67 -- 4 39 1 9 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 56,588 3,066 13,769 3,295 4,606 4,893 2,670 175 500 300 350 485 55,150 57,820 2,920 3,095 13,400 13,900 3,150 3,450 4,400 4,750 4,485 4,97© 1/ After deducting $ 133 million participations of other Federal Reserve Banks. 7/ Includes IMF gold deposit, 3/ After deducting $ 189 million participations of other Federal Reserve Banks, * Estimated. 2,934 3,000 3,000 9,784 2,202 700 155 9,300 10,000 2.130 2,285 5 960 960. 2.125 2,125 2.280 2,285 7.000 7,000 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Philadelphia Cleveland Richmond . TOTAL ASSETS Da lias San Francisco of dollars) 510 23 437 33 768 36 444 22 1,568 70 432 15 48 7 369 15 300 14 1,030 49 703 244 104 6 121 19 47 6 28 26 50 37 142 32 33 27 18 15 21 6 31 25 26 14 82 31 85 2 13 2 52 3 9 3 26 -- 56 26 -- -- -- -- -- -- -- -- :: 340 93 17 -- 81 93 18 -- 27 -- 25 -- 17 -- 57 -- 13 -- 6 -- 14 -- 16 -- 49 -- 29,702 -- 1,464 -- 7,102 -- 1,586 -- 2,347 -- 2 ,157 -- 1,519 -- 4,945 -- 1,114 -- 555 -- 1,189 -- 1,417 -- 4,307 -- ! 35,554 3,286 68,542 219 68,761 69,361 1,752 162 3,378 -3,378 3,397 8,502 786 16,390 219 16,609 16,878 1,899 175 3,660 — 3,660 3,679 2,809 260 5 ,416 -5 ,416 5 ,443 2 ,583 239 4 ,979 -4 ,979 5 ,004 1,819 168 3,506 -3,506 3,525 5,919 547 11,411 -11,411 11,520 1,333 123 2,570 -2,570 2,583 663 61 1 ,279 -1 ,279 1 ,288 1,422 131 2,742 -2,742 2,765 1,697 157 3 ,271 -3 ,271 3 ,290 5,156 477 9,940 -9,940 9,989 13,964 148 773 821 2 52 2,301 8 293 712 3 45 924 23 45 1,097 13 41 1,544 16 32 2,215 17 85 779 14 21 657 18 15 843 17 22 833 9 27 1,238 8 95 95,468 4,756 23,331 5,025 6 ,959 7,046 5,757 15,535 3,877 2 ,060 4,087 4 ,513 12,522 1 1 1/ Includes $79 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. 27 Includes assets denominated in foreign currencies and IMF gold deposited. * Estimated. Kansas City 3,618 93 56 J7 Minneapolis 351 23 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: Other St. Louis 9,875 400 Gold certificate account Special Drawing Rights certif. acct. Cash items in process of collection Bank premises Other assets 2/ Chicago O]n millions A S S E T S Notes Bonds Total bought outright Held under repurchase agreements Total U.S. Government securities Total loans and securities Atlanta DECEMBER 8, 1971
@FedFRASER