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Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks For immediate release January 22, 1970 H.4.1 The average of daily figures of total reserves of member banks increased $471 million (net) in the latest statement week to $29,399 million. Required reserves, excess reserves and member bank borrowings from Federal Reserve Banks all increased in the latest period. A seasonal decline in currency in circulation and a decrease in Treasury deposits with Federal Reserve Banks were the major factors providing reserves in the latest week. Partially offsetting these reserve increases was a contra-seasonal decline in float. System Open Market operations absorbed a modest amount of reserves (net) on a weekly average basis. Most of this absorbtion was through the outright sales of U. S. Government securities. Member bank borrowings averaged somewhat higher than in early January and exceeded excess reserves by $780 million, compared to the revised figure of $853 million for the previous week. 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 Averages of daily figures Week ended Change from week ended Wednesday, Jan. 21, Jan. 22, Jan. 21, Jan. 14, 1970 1969 1970 1970 (Iri millions of: dollars) 1/ 56,240 57 + 3,753 56,155 62 4 11 63 966 102 184 2,031 + 436 - 1,133 + 3,250 + 1,000 + 200 3,280 1,862 63,391 11,367 55 +_ + 4,504 + 2,984 6,856 81,814 52,380 3,572 1,887 62,726 11,367 _ + - 200 6,856 81,149 52,521 651 1,109 161 671 2,057 57,169 23,980 5,419 29,399 29,213 186 + + - + + + 182 13 129 — — — 129 519 8 153 20 7 60 649 520 49 471 296 175 - + + + 112 564 40 186 269 + 3,850 + + 654 396 + 1,050 + 1,137 87 200 660 1,132 121 705 2,076 57,074 24,740 5,419 30,159 29,213 946 NOTE: A net of $54 million of surplus reserves were eligible to be carried forward from the week ended January 14, into the week ending January 21. \J Includes $35 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. On January 21, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,493 million, an increase of $165 million for the week. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions o f dollars) Change since Wednesday Jan. 21, Jan. 14, Jan. 22, 1970 1970 1969 A S S E T S mtmt 11,036 +1,011 Gold certificate account -Special Drawing Rights certif. accts. * 200 + 200 Cash (1,208) 143 82 + 17 Discounts and advances 2,031 +1,170 +1,025 Acceptances: Bought outright 63 13 Held under repurchase agreements Federal Agency obligations-Held under repurchase agreements U. S. Government securities : Bought outright— Bills + 456 +2,964 21,267 Certificates Notes 31,392 4-2,686 Bonds 3,496 -1,979 Total bought outright + 456 1/ 56,155 +3,671 Held under repurchase agreements Total U. S. Government securities + 456 56,155 +3.671 Total loans and securities 58,249 +4,854 +1,481 Cash items in process of collection (2,548) 10,843 - 198 +1,257 Bank premises — + 4 117 Other assets 2/ -1,166 1,745 15 (3,756) 82,333 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS +6,078 +1,285 H.4.1(a) k I £ HIk 11l!1 Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other V Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES £ A P JL T A L A C C O U N T S Capital paid in Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents (1,208) 45,996 483 +2,743 24,740 1,132 +2,173 +1,529 + 795 121 705 62 1 + 2 +2,112 - 383 (2,548) 26,698 7,563 535 26 (3,756) 80,792 +1,220 674 669 198 + + 1 — 64 144 75 + 209 +2,458 + 603 + 160 +5,964 + + + 41 39 34 + 37 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $35 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 21, 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 Federal Agency obligations Acceptances Holdings advances Weekly changes 2,026 3,070 19 Within 15 days +1,538 16 days to 90 days 10,028 44 - 728 91 days to 1 year — 21,926 - 354 Over 1 year to 5 years — ~ 12,811 Over 5 years to 10 years -— 7,642 Over 10 years — — 678 Total 2,031 56,155 + 456 63 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Philadelphia Cleveland JANUARY 21, 1970 St. Richmond Atlanta Chicago Louis Minneapolis Kansas City San Dallas Francisco (In millions of dollars) A S S E T S Gold certificate account Special Drawing Rights certif. acct. 11,036 200 638 11 3,018 422 12 1,160 404 11 35 380 8 190 3 429 7 323 7 1,370 16 798 18 1,904 47 25 F. R. notes of other banks Other cash 1,208 143 118 5 243 18 73 7 90 13 101 11 181 18 74 16 38 10 25 4 48 8 53 11 164 22 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 2,031 196 455 24 10 50 11 483 30 55 40 109 568 63 --,- 63 -- __ —_ __ — m. «.— __ _— _ _— __ «.« „ «. —— -— -- —— 783 — 830 -- 915 -- 2,949 1,225 1 ,350 150 2*,415 4,353 Cash items in process of collection Bank premises Other assets 1/ TOTAL ASSETS 1/ mm mm mmm mM mm 21,267 — 31,392 3,496 56,155 -56,155 58,249 1,079 — — 1,593 7,646 177 852 2,849 13,678. — — 2,849 13,678 3,045 14,196 836 2 1,745 80 86,089 5,180 2,563 9 610 4,735 20,704 1,186 3,535 1,143 1,648 1,591 -- -- -- 1,687 2,434 2,347 188 271 261 195 581 129 428 -632 70 3,018 4,353 4,199 3,132 9,333 2,069 1,130 2,192 _— -- -- -- -- — — 1,751 — — 5,217 1,157 137 -485 7,787 — -- -- 3,018 3,042 4,353 4,363 4,199 4,249 3,132 3,143 9,333 9,816 2,069 2,099 1,130 1,185 2,192 2,232 2* 2 ,524 2H 7,787 8,355 803 2 1,009 1,128 1,245 2,058 11 18 8J^ 92_ 93 17 232 613 10 479 6 32 892 18 62 731 8 79 1,034 7 130 4,442 6,788 6,408 1,924 3,696 3 ,736 11,180 Includes assets denominated in foreign currencies and IMF gold deposited. .... __ —m 117 13,391 m. 5,113 14,152 53_ 3,211 9 201 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 21, 1970 Total CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for foreign correspondents New York 47,204 2,702 11,065 24,740 1,138 1,132 79 6,753 121 705 5 2 26,698 1,224 10,111 709 168 1/ 40 2/630 7,591 1,512 Phila- CleveRich- Atlanta Chicago delphia land mond (In millions of dollars) St. Louis Minneapolis Kansas City San Dallas Francisco 4,248 2,534 8,267 1,772 810 1,737 1,704 5,794 970 1,818 1,125 58 83 103 6 10 6 4 2 15 1,305 3,807 617 56 2 5 680 388 1,284 4,015 92 16 7 812 65 4 3 884 484 1,096 78 7 80 5 9 83 6 5 187 14 1,190 1,378 18 4,234 685 549 868 2,696 3,875 1,038 1,913 1,249 603 824 788 5 1,395 1,057 3,922 1,644 26 129 26 40 40 29 88 19 12 21 23 82 84,548 4,661 20,297 4,363 6,652 6,325 5,015 13,921 3,159 1,890 3,633 3,654 10,978 32 32 10 181 177 49 34 34 11 60 60 16 34 34 15 44 43 11 99 99 33 23 23 6 15 15 4 28 28 7 37 37 CO 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 Boston 87 87 28 86,089 4,735 20,704 4,442 6,788 6,408 5,113 14,152 3,211 1,924 3,696 3,736 11,180 7 3/ 38 8 13 7 9 21 5 3 6 8 19 1,826 1,861 6,203 535 674 669 198 144 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 1/ 2/ 3/ 2,844 11,696 2,804 4,164 4,424 2,758 8,671 1,857 848 180 500 300 510 545 -- 1,000 155 27 2,717 11.400 2,620 3,750 3,955 2,850 7,950 1,780 835 1.875 1.930 6.500 2,897 11,900 2,920 4,260 4,500 2,850 8,950 1,935 862 1,875 1,935 6,500 After deducting $ 81 million participations of other Federal Reserve Banks, Includes IMF gold deposit. After deducting $106 million participations of other Federal Reserve Banks, 5
@FedFRASER