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FEDERAL ''**&&£'' H.4.1 RESERVE Factors Affecting Bank Restrves aid Condition Statement of F.R. Banks •«•••• For immediate release February 25, 1971 The average of daily figures of total reserves of member banks declined $297 million to $29,895 million. Excess reserves increased moderately while required reserves and member bank borrowings decreased. An increase in float of $839 million was the major factor supplying reserves in the latest statement week. Augmenting this source of reserves were declines in currency in circulation and Treasury deposits with Federal Reserve Banks. Offs etting some of these reserve supplies were a $146 million increase in Other F.R. 1 iabilities and capital and a $369 million decrease in Other F.R. assets. In addition, System Open Market operation absorbed $617 million in reserves net, on a weekly average basis. Member Bank borrowings averaged $249 million and were $73 million less than excess reserves. In the previous week they exceeded excess reserves by $285 million. 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: Averages of daily figures Week ended Change from week ended Wednesday, Feb. 24, Feb. 17, Feb. 25, Feb. 24, 1970 1971 1971 1971 L millions of dollars) (Ir +6,665 178 9 - 509 48 — 20 68 36 — 1 32 5 3 52 — 816 251 -- 62,152 55 20 + - 249 — 3,448 797 66,919 10,732 + - 400 7.195 85,245 55,816 463 816 155 759 2,243 60,251 24,994 4,901 29,895 29,573 322 .j- + + 315 -839 369 462 — -6 457 130 2 410 2 -146 398 59 238 297 340 43 - 1/2/61,700 12 + 916 - 968 +5,693 - 635 + 100 + 322 +5,479 +3,736 - 137 - 269 2,976 804 65,783 10,732 400 7.201 84,116 55,828 465 1,350 153 710 41 — + 143 +3,431 +2,048 + 270 +2,318 +2,168 + 150 ! 2,261 60,767 23,349 4,901 28,250 29,573 -1,323 A net of $129 million of surplus reserves were eligible to be carried forward from the week ended February 17, into the week ending February 24. On February 24, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $12,826 million, an increase of $240 million for the week. 1/ Excludes $814 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $43 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 doll.ars) Wednesday Change since Feb. 24, Feb. 17, Feb. 25, 1971 1970 1971 A S S E T S - 581 10,464 Gold certificate account + 100 400 * Special Drawing Rights certif. acctss. + 64 + 1 257 Cash (1,227) 622 -1,347 251 Discounts and advances Acceptances: 2 8 52 Bought outright 25 - 162 Held under repurchase agreements Federal Agency obligations-59 197 Held under repurchase agreements U. S. Government securities : Bought outright-44,539 685 Bills 25,194 Certificates +1,461 33,534 + 35 Notes + 70 + 157 2,972 Bonds +6,157 - 580 1/2/ 61,700 Total bought outright — - 147 -1,984 Held under repurchase agreements +6,010 Total U. S. Government securities 61,700 -2,564 Total loans and securities +5,296 -4,272 62,003 Cash items in process of collection +1,611 -1,369 (2,790) 10,348 -Bank premises + 15 132 -1,013 672 35 Other assets V +5,492 84.276 -5.675 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (4,017) H.4.1(a) L. I A 1 1L II I£ ±L Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other 4/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 49,081 253 23,349 1,350 -4,536 + 865 153 710 19 52 (2,790) 25,562 7,372 -3,742 -1,727 521 23 (4,017) 82,536 -5,745 (1,227) +3,263 + 450 75 - 127 +1 ,503 + 590 18 +5 ,338 £ A P I T A L A C C O U N T S -i_ 32 711 Capital paid in + 33 702 Surplus 68 + 89 327 Other capital accounts Contingent liability on acceptances purchased 119 269 for foreign correspondents * Figures in parentheses are the eliminations made in the consolidating process. jL/ Excludes $814 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $43 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/ Include? IW gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 24. 1971 (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 Holdings Weekly changes Within 15 days 230 lH 2,962 -3,054 + 33 16 days to 90 days 1 28 14,189 91 days to 1 year 14,684 + 156 Over 1 year to 5 years 23,320 + 33 Over 5 years to 10 years + 21 5,791 Over 10 years 754 + 50 Total 52 251 61,700 -2,761 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 24, 1971 Total Boston New York Philadelphia Richmond Cleveland Atlanta Chicago St. Louis Minneapolis Kansas City Dallas I San Francisco (In millions of dollars) A S S E T S 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— 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 3/ TOTAL ASSETS ~f7 "ll "3/ "~ 10,464 400 671 23 2,217 93 615 23 897 33 1,063 36 633 22 2,161 70 408 15 119 7 350 15 580 14 750 49 1,227 257 133 11 270 19 53 12 78 30 84 16 330 34 39 40 24 14 21 7 32 20 36 15 127 39 i 4 3 -- 1 -- 239 * -- 3 _- __ 52 251 ; 52 i -- _- -- --- --- --- — -- — -- --- --- — -- --- --- — — — -- — -- — -- — -- -- — — 930 503 983 -- -- 1,238 110 2,278 669 59 1,231 25,194 -- 1,255 — 6,444 — 33,534 ! 1,671 8,577 2,972 148 760 \Jlf 61,700 3,074 15,781 -- 61,700 62,003 13,138 132 672 88,293 -- -- 1,293 1,942 1,885 1.,252 -- -- -- -- 1,722 153 3,168 2,586 229 4,757 2,508 222 4,615 1.,666 148 ,066 — -- — 3,168 3,171 4,757 4,757 4,615 4,616 2,722 8 289 668 3 30 987 14 40 4,689 21,455 4,575 6,836 3,074 15,781 3,075 15,837 736 2 38 "T -- 4,055 — 5,396 478 9,929 — ,066 3 ,066 9,929 10,168 910 11 39 1 ,241 17 26 2,093 17 76 6,775 5 ,369 14,664 T — 2,278 2,278 626 13 17_ 3,395 — 1 ,309 116 2 ,408 1,146 -- 1,526 135 2,807 4,666 414 8,586 -- -- -- -- 1,231 1,231 2 ,408 2 ,411 2,807 2,807 8,586 8,586 830 18 20 785 8 23 1,077 8 65 3 ,696 4,268 10,701 463 13 9_ 1,870 Excludes $814 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $43 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. 3,506 -- H.4.1(c) 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 foreign correspondents STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 24, 1971 Total Boston 50,308 2,853 23,349 1,350 153 710 25,562 10,162 New York 12,037 994 6,099 90 299 6 1/ 50 1 2/ 643 1,091 638 7,091 1,740 Rich- Atlanta Chicago Phila- Clevemond delphia land (In millions of dollars) St. Louis Minneapolis San Dallas Francisco 4,105 4,496 2,518 8,795 1,916 862 1,849 1,892 6,116 946 1,618 89 119 7 13 -. 2 1,263 1,596 3,653 141 21 28 1,696 1,018 3,843 1,677 519 50 3 3 575 385 3,251 90 9 1 821 78 5 1 905 496 1,031 1,558 115 7 11 2,869 1,044 1,750 1,396 546 788 747 521 26 134 26 40 38 26 83 19 10 86,553 4,608 21,002 4,485 6,683 6,677 5,258 14,398 3,336 1,832 711 702 327 33 33 15 185 185 83 37 36 17 64 63 26 37 36 25 48 47 16 107 105 54 24 24 11 16 16 6 88,293 4,689 21,455 4,575 6,836 6,775 5,369 14,664 3,395 1.870 13 3/ 71 14 24 14 18 40 269 Kansas City 9_ 6_ 76 6 2 96 8 1 107 18 17 1,115 1,663 3,393 640 597 19 890 23 77 3,623 4,175 10,476 40 39 14 90 88 47 3.696 4,268 10,701 30 30 13 11 15 34 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 1/ 2/ 3/ 3,013 250 12,776 500 2,938 300 4,297 510 2,770 500 2,840 12,600 2,800 3,900 4,210 2,900 3,090 13,100 3,100 4,410 4,710 2,900 After deducting $ 103 million participations of other Federal Reserve Banks, Includes IMF gold deposit. After deducting $ 198 million participations of other Federal Reserve Banks. 4,643 9,066 2,004 1,000 155 8,450 9,450 1,930 930 1,975 2,130 7.000 2,085 930 1,975 2,135 7,000 890 1,934 2,020 6,469 5
@FedFRASER