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..^o^o^V.. '••f«£V FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release July 15, 1971 H.4.1 The average of daily figures for total reserves of member banks declined $29 million in the latest statement week to $30,311 million. Required reserves and member bank borrowings at Federal Reserve Banks increased while excess reserves declined. Increases in currency in circulation and Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest statement week. An increase in float was the major factor supplying reserves. In addition, System Open Market operations provided a small amount of reserves net, on a weekly average basis. Member bank borrowings were above the average levels of recent weeks and exceeded excess reserves by $952 million compared to $351 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, July 14, July 14, July 7. July 15, 1971 1971 1970 1971 (In millions of dollars) 65, 669 116 208 134 +7,998 - 516 41 20 58 60 16 993 - 3 17 + - 26 47 57 + 326 - 688 1,842 -- 3,227 1,145 71,266 10,332 — + 259 + 53 672 + --- 400 7,430 89,428 59,182 460 1,778 162 721 2.264 64,568 24,861 5,450 30,311 30,270 1/ 65,636 1 + 671 + 511 - — + 243 8 + 14 43 + 717 45 + 16 29 + 246 - 275 90 + 539 - 105 +7,058 -1,035 -- + 442 +6,466 +4,192 + 23 + 581 63 21 18 +4,695 3,313 1,157 72,005 10,332 400 7»«1 90,168 59 ,230 468 2 ,516 163 694 2 ,133 65 ,204 24 ,965 5,450 30,415 30,270 145 +1,771 + 318 +2,089 +2,278 41 - 189 NOTE: A net of $165 million of surplus reserves were eligible to be carried forward from the week ended July 7, into the week ending July 14. On July 14, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $17,694 million, a decrease of $276 million for the week. V Includes $32 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 July 7, July 15, July 14, 1971 1970 1971 A S S E T S 970 10,075 Gold certificate account Special Drawing Rights certif. accts. 400 * Cash + 63 7 267 (681) Discounts and advances - 194 +1,371 1,842 Acceptances: Bought outright 57 + 23 Held under repurchase agreements 98 Federal Agency obligations-Held under repurchase agreements 172 U. S. Government securities : Bought outright— +5,683 28,047 + 518 Bills Certificates — Notes +1,934 34,354 Bonds -+ 348 3,235 Total bought outright +7,965 + 518 1/ 65,636 Held under repurchase agreements - 996 -' -Total U. S. Government securities 65,636 +6,969 + 518 Total loans and securities +6,528 67,535 +1,885 Cash items in process of collection +1,057 12,222 (3,229) +1,257 Bank premises — + 22 143 Other assets 2y 1,014 + 34 - 98_ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,910) 91,656 +3,169 +6,602 (681) Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign 52,276 + 37 +3,923 24,965 2,516 +2,033 + 451 +1 ,383 163 694 33 19 (3,229) 28,338 8,909 +2,432 + 888 (3,910) 90,075 Other y Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 552 + 4 +3,361 + 755 - +2 ,126 + 563 70 ,542 +6. £ A P I T A L A C C O U N T S + Capital paid in + 2 729 Surplus — 702 + Other capital accounts 150 194 Contingent liability on acceptances purchased for foreign correspondents 228 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $32 million securities l o a n e d — f u l l y 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, JULY 14, 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 1,841 10 3,585 +468 16 days to 90 days 13,982 1 47 +416 91 days to 1 year — — -366 17,669 Over 1 year to 5 years „ -23,600 *s Over 5 years to 10 years -*ars 5,907 Over 10 years — — — 893 Total 1,842 57 65,636 +518 - p - 10 2 43 33 16 10 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON • Total Boston New York Philadelphia • JULY 14, 1971 * Cleveland Richmond St. 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. i 674 23 1,805 788 33 70 403 15 316 7 537 15 326 14 1,237 36 470 22 1,800 93 646 23 1,073 400 681 267 71 8 166 21 36 8 39 25 57 36 132 34 25 35 16 15 16 7 32 26 20 18 71 34 1,842 79 852 23 91 81 51 238 ~ 17 62 344 57 -" 57 -- --- --- -- --- --- --- --- -- -- 7,330 1,487 2,117 2,023 1,401 4,608 1,025 1,083 1,304 3,827 -. -- -- -- -- -- -- 2,478 1,717 5,645 1,256 1,327 1,598 4,687 125 151 441 2,535 3,053 8,955 10,075 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/ 27 1 -- 1 ""' 28,047 ! 1,295 — -_ 34,354 1,586 8,978 | 3,235 149 845 1/ 65,636 3,030 :L7,153 ---65,636 3,030 :L7,153 67,535 3,109 :L8,062 172 244 233 162 532 118 547 -669 63 3,480 4,953 4,734 3,280 10,785 2,399 1,279 ..1,821 — 2,592 -- -- -- -- -- -- -- -- -- -- 3,480 3,503 4,953 5,044 4,734 4,815 3,280 3,331 10,785 11,023 2,399 2,401 1,279 1,281 2,535 2,552 3,053 3,115 8,955 9,299 2,895 1,108 1,527 2,508 18 62 13 60 16 42 17 129 839 14 29 601 17 16 918 18 31 957 9 38 1,334 8 366 779 3 49 1,126 1,014 859 2 53 95,566 4,799 :Z3,416 5,047 7,135 7,198 5,574 15,607 3,732 2,261 4,129 4,497 L2,171 15,451 143 Includes $32 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. 49 8 139 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 14, 1971 t 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 forei gn correspondents San Dallas Francisco Rich- Atlanta Chicago Phila- Clevemond delphia land (In millions of dollars) St. Louis Minneapolis Kansas City 2,592 9,247 2,042 913 1,989 2,080 1,219 186 8 14 1,427 949 1,511 100 10 3 1,624 1,225 3,617 303 22 6 3,948 2,086 841 91 5 1 938 678 568 206 3 3 780 520 1,087 154 6 3 1,250 802 1,410 4,193 126 115 8 19 1 25 1,545 4,352 760 1,092 42 6,993 38 7,113 29 5,470 88 15,369 13 20 3,678 2,226 22 4,063 80 25 4,410 11,969 38 36 8 66 63 13 38 36 11 49 47 8 108 105 25 25 24 5 17 16 2 31 30 5 23,416 5,047 7,135 7,198 5,574 15,607 3,732 2,261 4,129 3/ 60 12 20 12 15 34 5 9 942 2,066 Total Boston New York 52,957 2,953 12,627 3,081 4,289 4,699 24,965 2,516 163 694 28,338 12,138 851 143 7 1 1,002 746 7,131 748 1/ 53 2/635 8,567 1,667 1,058 172 8 2 1,240 616 1,479 172 14 — 1,665 997 552 93,985 26 4,727 141 23,002 28 4,965 729 702 150 33 33 6 191 185 38 95,566 4,799 228 11 8_ 41 39 7 6,445 92 88 22 4,497 12,171 13^ 29 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 17 2/ 3/ 3,074 13,215 3,140 4,446 4,839 250 500 300 510 530 2,920 13,000 3,000 4,000 4,375 2,900 8,750 2,030 960 2,125 2,280 3,170 13,500 3,300 4,510 4,905 2,900 9,750 960 2,125 2,285 7,000 After deducting $110 million participations of other Federal Reserve Bahks. Includes IMF gold deposit. After deducting $168 million participations of other Federal Reserve Banks. 2,768 9,504 2,131 1,000 6,732 5 155 2,185 2,232 7,000
@FedFRASER