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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release January 14, 1971 The average of daily figures of total reserves of member banks decreased $494 million to $30,107 million in the latest week. Required reserves increased while both excess reserves and member bank borrowings at Federal Reserve Banks declined. A seasonal decrease in currency in circulation and a fall in other deposits with Federal Reserve Banks were the major factors supplying reserves in this latest statement week. Float absorbed $676 million in reserves and was the major drain on reserves. In addition, System Open Market operations absorbed $404 million in reserves net, on a weekly average basis. Member bank borrowings averaged $275 million and exceeded excess reserves by $357 million. In the previous week excess reserves had exceeded borrowings by the revised figure of $196 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 Averae'es of daily figures Week ended Change from week ended Wednesday, Jan. 14, Jan. 13, Jan. 6, Jan. 13, 1970 1971 1971 1971 : dollars) i millions o i (Ir +5,813 -- 62,110 — + 19 - 327 -- 59 — — 61 — 3 40 5 — 63 -- 275 132 590 271 3,701 1,181 67,328 10,732 400 7,151 85,611 56,657 430 1,039 158 711 2,059 61,053 24,559 5,548 30,107 30,189 82 - 676 h 17 -1,194 --+ 3 -1,191 - 364 — 4- 66 + 4 - 342 + 53 - 584 - 606 + 112 - 494 + 191 - 685 66 - 693 +4,459 - 635 + 200 + 295 2,945 1,193 66,582 10,732 :-4,319 +3,617 - 229 - 223 23 + 33 + 62 +3,235 1/62,110 -- 400 7,151 84,865 56,557 435 587 136 719 2,084 60,518 Member bank reserves: With Federal Reserve Banks +1,085 24,348 Currency and coin + 34 5,548 Total reserves held 29,896 +1,119 30,189 +1,278 Required reserves - 293 - 159 Excess reserves NOTE: A net of $249 million of surplus reserves were eligible to be carried forward from the week ended January 6, into the week ending January 13. On January 13, 1971, marketable U.S. Government securities held in cust bv the Federal Reserve Banks for foreign and international accounts were $11,386 million, an increase of $196 million for the week. _1/ Includes $41 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 Jan, 6, Jan. 13, Jan. 14, 1970 1971 1971 A S S E T S _w - 572 10,464 Gold certificate account + 200 — 400 Special Drawing Rights certif. accts. * + + 99 7 225 Cash (1,217) - 733 15 271 Discounts and advances Acceptances: _+ 63 4 Bought outright --._ 93 Held under repurchase agreements Federal Agency obligations— 94 Held under repurchase agreements U. S. Government securities : Bought outright+5,122 + 325 25,933 Bills Certificates +1,844 — Notes 33,236 Bonds -- 555 2,941 Total bought outright 1/ 62,110 + 325 +6,411 261 Held under repurchase agreements + +6,411 64 62,110 Total U. S. Government securities +5,678 134 62,444 Total loans and securities ,752 + 220 -1 Cash items in process of collection (2,590) 11,311 — Bank premises + 11 128 Other assets 2/ 695 + 34 1,065 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,807) -1 ,845 +4,941 86,037 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 ACCOUNT!* Capital paid in Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents (1,217) 49,797 321 +3,318 24,348 -1,122 - 518 +1 ,733 - 607 + 14 + 16 +1 ,156 + 420 12 +4 ,882 587 136 719 18 4 -1,662 + 86 (2,590) 25,790 8,366 549 20 (3,807) 84,502 -1,917 705 702 128 3 -69 + + - 32 33 6 + 103 Figures in parentheses are the eliminations made in the consolidating proc ss. 247 - 2 * J7 Includes $41 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, JANUARY 13, 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 Acceptances Holdings advances Weekly changes +117 Within 15 days 270 10 3,175 16 days to 90 days -104 1 53 12,377 91 days to 1 year --- 43 20,754 Over 1 year to 5 years •s --19,089 Over 5 years to 10 years *ars -— 6,046 Over 10 years — — -669 Total 62,110 - 30 63 271 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 13, 1971 Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) ASSETS 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 2/ TOTAL ASSETS 1/ ~2/ 10,464 400 1,217 225 I 719 23 2,540 617 23 981 33 925 36 394 22 2,158 93 70 373 15 244 7 422 15 630 14 461 49 138 231 20 69 11 74 25 93 14 254 30 69 33 33 12 29 6 34 18 49 14 144 32 4* 264 3 J- — — --- --- --- — -- — -- 10 271 63 -- i 1 •s- 0 __ __ 63 -- --- --- — -- --- 1,269 6,612 1,361 2,023 1,930 1,347 4,084 951 508 1,013 1,175 3,660 1,626 8,474 1,744 2,593 2,474 1,727 5,234 1,219 1,505 4,690 750 154 229 219 153 463 108 652 58 1,298 144 115 133 415 3,039 15,836 3,259 4,845 4,623 3,227 9,781 2,278 1,218 -1,2181,218 2,426 2,813 8,765 -25,933 33,236 2,941 62,110 V -62, 110 62,444 13,901 128 1,.065_ 89,844 -- -- -- -- -- 3,259 3,259 4,845 4,846 4,623 4,623 3,227 3,227 9,781 10,045 2,278 2,281 699 3 50 962 13 72 1,051 1,436 2,305 .738 8 392 11 67 17 50 17 136 12 32 4,780 21,528 4,731 7,006 6,820 5,430 14,833 3,496 — -- 3,039 15,836 3,039 15,900 801 2 48 2,344 — -- -- -- 2,426 2,428 2,813 2,813 8,765 8,765 511 12 19 .922 857 8 43 1,275 2 ,046 3,891 17 35 Includes $41 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. 8 121 4,428 10,855 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 13,1971 H.4.1(c) Total 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 Boston New York Phila- Clevedelphia land Rich- Atlanta Chicago mond (In millions of dollars) St. Louis Minneapolis Kansas City San Dallas Francisco 51,014 2,897 12,118 2,918 4,174 4,563 2,587 8,912 1,940 873 1,859 1,937 6,236 24,348 587 136 719 25,790 10,956 1,042 6,411 38 97 6 1/ 44 3 Z/650 1,089 7,202 696 1,666 1,069 24 6 7 1,106 600 1,777 50 11 1 1,839 814 1,178 57 7 14 1,256 880 1,524 38 8 1 1,571 1,143 3,741 36 19 18 3,814 1,789 865 42 4 1 912 571 670 29 3 2 704 424 1,145 1,693 46 44 7 5 3 1 1,199 1,745 638 747 3,233 86 16 18 3,353 988 549 88,309 27 139 4,709 21,125 28 4,652 43 6,870 40 6,739 29 5,330 86 14,601 20 3,443 11 2,012 21 24 3,826 4,344 81 10,658 185 185 33 36 36 7 63 63 10 36 36 9 47 47 6 106 105 21 4,780 21,528 4,731 7,006 6,820 5,430 14,833 13 22 13 16 37 705 702 128 89,844 • . . 33 33 5 24 24 5__ 16 16 2 2,046 30 30 5_ 39 39 6 90 88 19 3,891 4,428 10,855 14 31 1,945 2,065 6,611 _ Contingent liability on ace:ept~ ances purchased for forei gn correspondents 12 247 3/ 65 8_ 6__ 10 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 3,061 12,772 250 o o/.n S00 i o /, rid 2,988 4,343 4,717 300 510 610 — 3,900 4.160 2,900 2,800 ,- ,&,. •• ...„ 3,090 12,900 3,100 •».„ L. 4,410 1/ After deducting $ 92 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $ 182 million participations of other Federal Reserve Banks. y i i 4,770 2,840 "" m 2,900 9,1/s- 2,022 1,000 155 8,450 — — * ~ — — — 9,450 912 5 1,930 ~—J~~ 2,085 930 .1,975 2,130 7,000 930 1,975 2,135 7,000 „ H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Jan. 13, 1971 A S S E T S Gold certificate account Special Drawing Rights certif. accts. 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 2/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS 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 J3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T A L ACCOUNTS C a p i t a l paid in Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents (1,217) Change since Jan. 6, Jan. 14, 1970 1971 10,464 „. „ 400 225 271 — + 63 + -- - - 7 15 + + - --- 4 93 94 25,933 1/ (2,590) 33,236 2,941 62,110 + 325 62,110 + + 325 261 64 62,444 11,311 - 134 -1,752 +5,122 +1 ,844 555 +6 ,411 +6 ,411 128 — 1,065 + 3 4 +5,678 + 220 + 11 - 695 (3,807) 86,037 •1,845 +4,941 (1,217) 49,797 321 +3,318 24,348 -1,122 - 518 +1,733 - 607 18 4 + 14 + 16 +1,156 + 420 12 +4,882 587 136 719 -1,662 + 86 (2,590) 25,790 8,366 549 20 (3,807) 84,502 -1,917 705 702 128 3 — + + 69 247 * Figures in parentheses are the eliminations made in the consol idating process. \_l Includes $41 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, JANUARY 13, 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 Acceptances advances Holdings Weekly changes Within 15 days 270 10 3,175 +117 16 days to 90 days 1 53 12,377 -104 91 days to 1 year 20,754 - 43 Over 1 year to 5 years 19,089 Over 5 years to 10 years 6,046 Over 10 years 669 Total 271 63 62,110 - 30 572 200 99 733 32 33 6 103
@FedFRASER