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FEDERAL '-?!*4U@F' RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release February 26, 1970 The average of daily figures of total reserves of member banks decreased $533 million in the latest statement week to $27,509 million. Required reserves and excess reserves both declined in the latest period. A somewhat greater than seasonal decline in currency in circulation was the major factor providing reserves in the latest statement week. Several other items also provided a significant amount of reserves. These increases were more than offset by System Open Market operations which absorbed $570 million in reserves net on a weekly average basis, although the system did supply reserves through repurchase agreements. Member bank borrowing decreased somewhat and exceeded excess reserves by $991 million compared to the revised figure of $888 million for the previous week. 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-Held under repurchase agreements Acceptances Bought outright Held under repurchase agreements Discounts and advance8-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, 1freb.26,Feb. 25, Feb. 25, Feb. 18, 1970 1969 1970 1970 (In millions of dollars) 55,487 226 56 454 +3,363 + 129 1/ 55, 543 147 56 20 48 59 8 29 60 25 60 23 1,064 12 2,466 1,765 61,158 11,367 300 6,873 79,698 52,080 600 1,085 196 759 2,100 56,820 22,878 .4,631 27,509 27,436 73 + - 2 43 _ 47 12 96 36 - 475 + + + — + + - + + + + - 71 6 398 122 7 38 27 35 16 14 384 149 533 383 150 + - + 307 + . 12 - 203 - 918 +2,716 +1,000 + 300 + 60 +4,076 +2,932 - 163 + 523 + 67 + 276 + 210 +3 ,845 + 231 + 179 + 410 + 541 - 131 833 40 ,841 ,802 60,350 11,367 300 6,879 78,896 52,224 602 900 228 837 2.125 56,916 21,980 4,631 26,611 27,436 - 825 NOTE: A net of $153 million of surplus reserves were eligible to be carried forward from the week ended February 18, into the week ending February 25. 1/ Includes $26 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On February 25, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,055 million, an increase of $167 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In mi11tons of dollars) Change since Wednesday Feb. 25, TeFT 18, ' Feb. 26, 1970 1970 1969 A S S E T ! Gold certificate account — 11,045 +1,020 Special Drawing Rights certif. accts. * — 300 + 300 + Cash (989) 193 6 39 873 + 210 Discounts and advances + 374 Acceptances: -• 60 + 9 Bought outright 25 54 + 25 Held under repurchase agreements Federal Agency obligations52 + 59 Held under repurchase agreements 59 U. S. Government securities : Bought outright-+2,974 Bills 20,655 Certificates Notes — 32,073 +2,147 Bonds — •1,525 2,815 Total bought outright \J 55,543 +3|596 - 570 + 147 Held under repurchase agreements 147 Total U. S. Government securities 570 55;690 Total loans and securities - .466 56,707 +4,210 Cash items in process of collection (2,321) 8,623 -1,635 + 5 Bank premises 117 + 4 Other assets 2/ - 912 1-685 + 230 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,310) -1,865 +1*528 78.670 L I A B I L I T I E S Federal Reserve n o t e s Deposits: (989) Member bank reserves U. S. Treasurer--general account Foreign 13 +2,779 21,980 -1,004 + 28 + 41 + 64 - 871 -1,041 35 -1,934 + 44 + 285 + 118 + 345 + 792 + 756 + 145 +4,472 + 41 39 36 50 900 Other V Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T A L C a p i t a l paid in Surplus 45,818 (2,321) (3,310) 228 837 23,945 6,782 539 77,084 ACCOUNTS Other capital accounts Contingent liability on acceptances purchased for foreign correspondents 679 669 238 + 67 + + + 150 + 1 + 2 aa«k * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $26 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. j2/ Includes assets denominated in foreign currencies and IMF gold deposited. V Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. FEBRUARY 25, 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 advances Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years *s Over 5 years to 10 years tars Over 10 years Total 820 53 Acceptances 42 43 — — — — —_ 873 85 Federal Agency obligations Holdings Weekly changes 3,094 -817 21,371 +364 9,589 -169 -14,130 -6,953 612 55,749 ~ -622 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 25, 1970 Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. " Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) A S S E T S Gold certificate account Special Drawing Rights certif. acct. 393 17 3,091 805 25 871 27 535 16 53 398 11 112 5 413 11 278 11 1,281 70 620 17 2,248 300 F. R. notes of other banks Other cash 989 193 102 8 218 27 56 8 90 19 73 14 141 25 49 25 25 12 18 5 41 11 46 12 130 27 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 873 69 240 15 31 117 43 89 45 22 93 39 70 60 25 «... _«. 60 25 -. -._ __ -- _-. .. —- ... «. «. «.— _— —— —— __ __ -• __ -__. Cash items in process of collection Bank premises utner assets £_/ f \ 4*1** ^%v^M» *m «•* * « ^*v ^ *m I / TOTAL ASSETS ±J 27 11,045 20,655 1,023 5,181 -_. __ 32,073 1,589 8,046 2,815 140 706 55,543 2,752 13,933 1,058 1,624 •- «• —— 1,642 2,521 144 221 2,844 4,366 1,100 3,410 762 411 779 880 2,906 2,362 1,707 5,295 1,184 4,513 150 465 104 638 56 1,209 207 4,090 2,957 9,170 2,050 1,105 2,094 10,504 1,521 __ 147 -- -- -- -- -_ -- -- -- 55,690 2,752 14,080 56,707 2,821 14,464 10,944 583 1,929 2,844 2,859 4,366 4,397 4,090 4,207 2,957 3,000 2,050 2,095 1,105 1,127 2,094 2,187 9 586 626 2 78 745 7 137 777 11 86 973 18 88 9,170 9,259 1,967 17 218 563 10 50 389 6 32 795 18 58 1 ,367 120 2 ,367 -2 ,367 2 ,406 652 8 75 4,013 20,394 4,266 6,225 6,066 4,796 13,836 3,164 1,694 3,534 3 ,488 147 117 —i _ 59 59 \j ~~ «.— 1,685 81,980 -- 2 87 106 Includes $26 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. 37 396 7,815 -7,815 7,885 945 9 190 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Phila- Clevedelphia land Richmond Atlanta FEBRUARY 25, 1970 Chicago St. Louis Minneapolis Kansas City San Dallas Francisco (In millions of dollars) 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 aceeptances purchased for forei gn correspondents 46,807 2,686 11,028 2,649 3,840 4,210 2,493 8,200 1,760 805 1,725 1,683 5,728 21,980 6,194 1,009 1,336 3,533 91 11 13 65 14 4 44 33 12 948 46 9 7 88 12 3 77 29 16 1,533 1,124 1,419 1,243 3,710 608 757 3,622 1,691 1,010 672 491 40 5 4 540 303 3,588 49 20 1 772 44 7 3 826 505 1,140 1/ 66 2/764 7,265 1,538 851 43 11 9 914 597 1,463 23,945 9,103 655 72 11 1 739 487 713 455 777 539 26 139 26 42 38 28 85 19 12 20 22 82 80,394 3,938 19,970 4,186 6,087 5,980 4,697 13,598 3,110 1,660 3,468 3,403 10,297 679 669 238 32 32 11 182 177 65 34 34 12 60 60 18 35 34 17 44 43 12 100 99 39 23 23 8 15 29 38 15 28 37 4 9 10 87 87 33 81,980 4,013 20,394 4,266 6,225 6,066 4,796 13,836 3,164 1,694 3,534 3,488 10,504 150 7 3/ 40 8 13 8 10 22 5 3 8 20 8,499 1,840 832 1,823 6,068 900 228 837 241 6___ FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral JL/ 2/ 3/ 2,814 180 11,611 500 2,742 4,098 4,344 300 510 545 1,000 155 27 1,802 — 5 2.667 11.400 2.620 3.750 3.860 2.850 7.950 1.780 835 1.875 1.930 6.500 2,847 11,900 2,920 4,260 4,405 2,850 8,950 1,935 862 1,875 1,935 6,500 After deducting $162 million participations of other Federal Reserve Banks. Includes IMF gold deposit. After deducting $110 million participations of other Federal Reserve Banks. 2,697
@FedFRASER