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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release January 28, 1971 The average of daily figures of total reserves of member banks decreased $801 million to $30,202 million in the latest week. Excess reserves increased while both required reserves and member bank borrowings at Federal Reserve Banks declined. A decrease in currency in circulation of $514 million was the major factor supplying reserves in this latest statement week. Offsetting this source of reserves was a significantly greater than seasonal decline in float and an increase in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $86 million in reserves net, on a weekly average basis. Member bank borrowings averaged $354 million and exceeded excess reserves by $59 million compared with the revised figure of $383 million for the previous week. Member bank reserves, Reserve Bank credit, and ielated 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 Chang e from week ended Wednesday, Jan. 28, Jan. 27, Jan. 27, Jan. 20, 1970 1971 1971 1 Q71 (InL millions of: dollars) 1/ 61,809 67 - 13 62 3 m - 354 3,052 1,256 66,616 10,732 465 1,184 159 737 2,169 60,300 24,613 5,589 30,202 29,907 295 + + — -• 1 4 - 117 - + - 400 7,164 84,913 55,585 65 16 + + + + + + - + - + 827 34 995 — — 9 985 514 25 259 1 19 49 159 825 24 801 1 ,008 207 + + + + + + + + + + + + + + + 6,307 61,883 67 151 13 10 —— 3 63 5 676 741 4 777 2,887 1,270 67,010 10,732 4,941 635 200 310 4,817 3,495 184 13 22 62 64 400 7,165 85,307 55,586 471 1,237 155 717 1,684 1,501 2,188 60,354 24,953 5,589 30,542 29,907 183 635 3,447 1,370 314 A net of $12 million of deficit reserves were eligible to be carried forward from the week ended January 20, into the week ending January 27. On January 27, 1971, marketable U. S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $11,640 million, an increase of $5 million for the week. 1/ Includes $45 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 off dollars) Wednesday Jan. 27, 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 f 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 k 1 A $. 1L 11 11 $ 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 Change since Jan. 28, Jan. 20, 1970 1971 10,464 * (1,477) 400 247 741 -+ - 8 781 .— + + - 572 200 90 330 63 5 44 + + 3 5 10 78 + 10 25,706 150 +5,026 33,236 2,941 1/ 61,883 _— 1,141 (4,184) 85,803 + 22 -2,101 +1,844 - 555 +6,315 + 151 +6,466 +6,154 + 924 + 12 - 754 +6,054 (1,477) 48,871 308 +3,176 24,953 1,237 -1,790 + 629 +2,094 155 717 30 19 3 + 4 -1,187 - 643 + 16 +2,088 + 729 151 62,034 62,853 (2,707) 10,569 129 27,062 (2,707) 7,682 - 150 - 429 - 579 -1,482 - 649 -- 519 32 2 (4,184) 84,134 -2,170 +5,991 C A P I T A L ACCOUNTS 708 + 33 + 2 C a p i t a l paid in + 33 702 — Surplus 67 3 259 Other capital accounts Contingent liability on acceptances purchased for foreign correspondents 248 4 + 102 * Figures in parentheses are the eliminations made in the consolidating process. J7 Includes $45 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 27, 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 27 Within 15 days 741 - 330 4,100 41 + 49 16 days to 90 days 11,910 91 days to 1 year - 376 20,230 Over 1 year to 5 years 19,089 Over 5 years to 10 years 6,046 Over 10 years 669 Total 747 68 62,044 - 657 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total ,Boston JANUARY 27, 1971 New Phila- Cleve- RichAtlanta Chicago York delphia land mond (In millions of dollars) St. Louis Minneapolis Kansas City Dallas San Francisco _ _ ^ _ ASSETS Gold certificate account Special Drawing Rights certif. acct. 10,464 400 619 23 2,277 93 469 23 749 33 1,112 36 403 22 2,042 70 409 15 194 7 383 15 381 14 1,426 49 F. R. notes of other banks Other cash I 1,477 | i 247 150 11 285 22 92 12 103 28 106 16 338 32 73 36 44 14 34 7 33 18 55 15 164 36 28 192 15 — 4 52 302 * 3 7 — 138 63 5 --- --- --- --- --- --- --- --- -- -- -— 3,628 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 %J TOTAL ASSETS 1/ 2/ 741 i 63 5 10 25,706 — 33,236 2,941 1/ 61,883 151 62,034 62,853 13,276 129 1,141 89,987 10 1,258 6,554 1,349 2,005 1,914 1,335 4,048 942 504 1,004 1,165 -- -- — -- -- -- -- -- -- -- -- 1,626 8,474 144 750 3,028 15,778 — 151 3,028 15,929 3,056 16,199 1,744 154 3,247 2,593 229 4,827 2,474 219 4,607 1,727 153 3,215 5,234 463 9,745 1,219 108 2,269 652 58 1,214 1,298 115 2,417 1,505 133 2,803 -- -- -- -- -- -- -- -- 3,247 3,262 4,827 4,827 4,607 4,611 3,215 3,267 9,745 10,047 2.269 2,269 1,214 1,217 2,417 2,424 2,803 2,803 8,733 8,871 2,292 8 408 716 3 60 912 13 78 960 11 70 1,368 17 55 2,066 17 145 680 12 34 454 12 19 1,027 18 38 934 8 46 1,096 8 129 4,691 21,584 4,637 6,743 6,922 5,502 14,496 3,477 1,944 3,956 4,256 11,779 771 2 59 — — Includes $45 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. — 4,690 415 8,733 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 aceseptances purchased for forei s'* correspondents STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York 50,348 2,858 12,005 2,882 4,111 4,530 2,537 24,953 1,237 1,016 6,549 1,021 1,564 1,365 68 7 1 183 52 7 3 1,083 99 13 2 93 7 13 1,678 1,478 558 766 785 155 717 27,062 10,389 1,092 637 1/ 48 2/665 7,445 1,562 JANUARY 27, 1971 Phila- CleveRich- Atlanta Chicago delphia land mond (In millions of dollars) - Kansas City San Dallas Francisco St. Louis Minneapolis 8,797 1,919 863 1,837 1,902 6,107 1,577 3,590 120 22 7 583 46 4 1,709 1,122 3,739 1,627 880 53 5 1 939 544 1,108 1,461 81 110 6 8 .2 1 1,197 1,580 832 662 4,239 121 10 1 1 634 400 519 26 134 28 40 38 27 79 18 10 88,318 4,613 21,146 4,551 6,595 6,831 5,395 14,242 3,420 1,907 708 702 259 33 33 12 185 185 68 36 36 14 64 63 21 37 36 18 48 47 12 106 105 43 24 24 9 16 16 5 89,987 4,691 21,584 4,637 6,743 6,922 5,502 14,496 3,477 1,944 248 12 3/ 65 13 22 13 17 37 8 6 20 23 3,886 4,167 211 18 20 4,488 894 76 11,565 39 39 11 90 88 36 3,956 4.256 11,779 30 30 10 10 14 31 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securiti.es Total collateral 53,122 3,029 12,721 2,962 4,305 4,705 2,808 9,183 2,001 904 1,929 2,030 6,545 3,330 250 500 300 510 610 -- 1,000 155 -- 5 -• 51,415 2,840 12,400 2,800 3,900 2,900 8,450 1,930 7.000 3,090 12,900 3,100 4,410 2,900 9,450 2,085 930 930 1.975 2.130 54,745 4,160 4,770 1,975 2,135 7,000 JL/ After deducting $ 107 million participations of other Federal Reserve Banks. 27 Includes IMF gold deposit, 3/ After deducting $ 183 million participations of other Federal Reserve Banks.
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