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FEDERAL '*rf*Au@e RESERVE Factors Affecting Bank Reserves and Condition Statement off F.R. Banks H.4.1 For immediate release July 16, 1970 The average of daily figures of total reserves of member banks increased $303 million in the latest week to $28,125 million. Required reserves, excess reserves and member bank borrowings at Federal Reserve banks all increased. A substantially greater than seasonal decline in float was the major factor draining reserves in this latest week. Reserves were also absorbed by a larger than seasonal increase in currency in circulation and a decrease in other Federal Reserve assets. A decline in Treasury deposits at Federal Reserve Banks offset some of these reserve drains. In addition, System Open Market operations supplied $794 million in reserves on a weekly average basis through repurchase agreements. Member bank borrowings remained above the average levels of recent weeks and exceeded excess reserves by $1,586 million compared to $1,235 million for the previous week. Averages of daily figures 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 NOTE: Week ended Chang e from week ended Wednesday, July 15, July 8, | July 16, July 15, 1970 1 1969 1970 1Q70 (In millions of dollars) 57,671 632 +3,106 + 605 57,671 90 172 6 34 98 99 4- 99 34 63 + -63 1,680 90 2,595 1,250 64,113 11,367 + 384 -- 590 - 128 + 459 «••• 400 6,988 82,868 54,990 437 1,197 225 742 2,282 59,873 22,995 5,130 28,125 28,031 94 - -+ 632 + + + + + + + + + — 12 446 337 7 114 39 49 39 165 282 21 303 270 33 + 996 60 + 401 + 90 85 -1,448 +2,811 +1,000 + 400 + 251 +4,462 ! +3,528 - 205 + 79 + 97 + 275 + 234 +4,007 + 455 + 395 + 850 + 932 82 1,947 90 2,826 1,233 65,067 11,367 400 6,988 83,822 55,003 457 1,133 173 696 2,143 59,605 24,218 5,130 29,348 28,031 1,317 A net of $53 million of surplus reserves were eligible to be carried forward from the week ended July 8, into the week ending July 15. 1/ Includes $23 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On July 15, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $11,176 million, an increase of $286 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday July 8, July 16, July 15, 1970 1969 1970 AS SE T S Gold certificate account 11,045 +1,018 Special Drawing Rights certif. accts. 400 + 400 Cash (644) 204 + 37 2 Discounts and advances 2,037 48 + 440 Acceptances: Bought outright 34 7 Held under repurchase agreements 98 98 + 78 Federal Agency obligations-172 Held under repurchase agreements + 172 107 U. S. Government securities : Bought outright— Bills 22,364 +2,495 Certificates Notes 32,420 +1,867 Bonds -1,256 2,887 Total bought outright +3,106 1/ 57,671 Held under repurchase agreements + 805 996 996 Total U. S. Government securities + 996 58,667 +3,911 Total loans and securities +1,706 61,008 +4,041 Cash items in process of collection +1,343 (2,845) 11,172 + 389 Bank premises + 1 121 + 7 Other assets £./ 1,112 -1,383 - 167 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (3,489) 85,062 +4,509 +2,881 Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign (644) Other 2./ 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 p a i d in Surplus (2,845) (3,489) 48,353 32 24,218 1,133 173 696 26,220 8,346 622 83,541 +2,002 + 74 4- 13 - 168 +T,T2T +1 ,188 686 669 166 1 +3,160 + + + + 570 45 57 234 27 + + 239 + 141 +3,104 +4,446 + m ACCOUNTS Other capital accounts Contingent liability on acceptances purchased for foreign correspondents + + 24 39 224 238 83 * Figures in parentheses are the eliminations made in the consolidating process. JV Includes $23 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. l_l Includes assets denominated in foreign currencies and IMF gold deposited. 3_/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 15, 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 Federal Agency obligations Discounts and Holdings Weekly changes advances Acceptances Within 15 days 1,989 107 3,430 -f-1,244 16 days to 90 days 48 25 12 10,518 91 days to 1 year 558 64 13, Over 1 year to 5 years 25, 395 Over 5 years to 10 years 5, 314 Over 10 years 624 Total 2.037 Til +1,168 2,037 58,839 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON July 15, 1970 Total Boston New PhilaCleve- RichAtlanta Chicago York delphia land mond 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 \j 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/ 11,045 400 730 23 1,879 93 680 23 1,053 33 1,025 36 621 22 2,102 70 392 15 237 7 456 15 442 14 1,428 49 644 204 42 8 158 23 36 8 46 24 53 12 91 29 23 29 20 11 21 7 42 16 22 13 90 24 2,037 73 832 71 133 92 11 479 11 15 45 128 147 34 98 34 98 —— mm a » —— _— —— _. _.. __ _w —— ^^ * • mm 172 -- 172 -- -- -- -- -- -- ~_ 22,364 1,139 5,550 1,144 1,732 1,685 1,218 3,687 817 32,420 2,887 57,671 996 58,667 61,008 1,652 8,044 1,658 716 148 147 2,938 •L4,310 2,950 -— 996 2.938 15.306 2.950 3,011 16,442 3,021 2,510 224 4,466 -4.466 4,599 2,443 1,766 218 157 4,346 3,141 --4.346 3.141 4,438 3,152 5,345 476 9,508 --. 9-508 9,987 2,325 9 437 775 2 47 1,070 9 73 1,056 11 64 1,361 17 51 4,647 :21,366 4,592 6,907 6,695 14,017 121 1,112 88,551 775 2 56 MM __ — mm _- __ ~- 424 857 962 3,149 1,184 105 2,106 -2.106 2,117 615 55 1,094 ... lf094 1,109 1,243 111 2,211 .. 2r211 2,256 1 ,395 124 2 ,481 -._ 481 ZJLr 2 ,609 4,565 406 8,120 __ 8,120 8,267 2,330 17 139 724 11 31 521 8 17 942 18 34 808 8 42 1,330 9 121 5,344 ]L4,697 3,321 1,927 3,779 3 ,958 11,318 Includes $23 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. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON July 15, 1970 Total 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 Boston New York 48,997 2,837 11,427 24,218 1,133 934 70 9 6,706 173 696 26,220 11,191 * 1,013 695 286 1/ 41 7/616 7,649 1,706 Phila- CleveRich- Atlanta Chicago mond delphia land (In millions of dollars) St. Louis Minneapolis Kansas City 3,987 4,373 2,617 8,607 1,859 859 977 1,762 64 57 9 16 22 1 1,149 1,382 3,850 126 9 13 53 12 4 53 27 7 561 35 4 2 602 421 2,794 1,072 1,836 1,297 619 904 901 1,451 1,146 3,937 1,830 769 54 6 2 831 558 1,833 San Dallas Francisco 1,812 5,992 963 1,305 3,860 60 146 129 21 10 7 2 2 6 1,122 1,377 4,033 738 661 1,012 J-\ 75 ftS 3,875 11,122 622 30 180 30 87,030 4,575 20,962 4,515 46 6,773 43 6,614 32 5,246 96 14,470 71 3,269 11 1,893 3,716 686 669 166 32 32 8 183 177 44 35 34 8 61 60 13 35 34 101 23 23 16 15 29 28 39 37 87 87 12 45 43 10 6 3 6 7 22 88,551 4,647 21,366 4.592 6.907 6.695 5.344 14.697 3.321 1.927 3.779 12 3/ 63 12 21 16 31 99 27 3.958 11.318 i Contingent liability on ace:eptances purchased for foreign _ correspondents 238 12. 8_ L 12_ L2_ 2I_ FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government s e c u f i t i v s Total c o l l a t e r a l 1/ 2/ 3/ 2,931 11,941 2,861 4,156 4,503 250 500 300 510 580 2,730 11,600 2,700 3.750 3,970 2,980 12,100 3,000 4,260 4,550 After deducting $ 132 million participations of other Federal Reserve Banks. Includes IMF gold deposit. After deducting $ 175 million participations of other Federal Reserve Banks. 2,775 8,858 1,931 1,000 886 1,907 1,932 6,306 155 22 2.900 8.250 1.830 875 1.975 1.980 6.500 2,900 9,250 897 1,975 1,985 6,500 1,985 * — Less than $500,000. 5
@FedFRASER