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••i>j££2!&-- '•.f^TitS?:- FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release H.4.1 July 2 2 , 1971 The average of daily figures for total reserves of member banks increased $658 million in the latest statement week to $30,969 million. Required reserves, excess reserves, and member bank borrowings at Federal Reserve Banks all increased. A seasonal decline in currency in circulation and a reduction in Treasury deposits with Federal Reserve Banks were the major factors suppling reserves in the latest week. In addition, System Open Market operations provided $613 million of reserves net, on a weekly average basis, primarily through repurchase agreements. Member bank borrowings rose to an average level of $1,122 million, somewhat higher than the recent average level, and exceeded excess reserves by $793 million compared to $952 million for the previous week. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government s e c u r i t i e s — Bought outright—System account Held under repurchase agreements Federal Agency o b l i g a t i o n s — 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 Change from week ended Wednesday, July 2 1 , July 1 4 , July 2 2 , July 2 1 , 1971 12ZL 1970 (In millions of dollars) 65,694 653 + + 88 56 24 1,122 -3,203 1,156 71,997 10,332 25 537 47 +7,385 + 465 '- 4 8 + + + 129 - - — - + + 24 11 731 --- 400 UH 1/ 65,704 901 50 75 23 17 57 25 264 1,561 83 + 9 - 101 +7,467 -1,035 — + 450 +6,881 2,714 1,201 72,238 10,332 400 7,441 90,411 +4,208 + 15 + 566 7,440 90,168 + + 10 740 58,955 - 470 + 227 10 176 4 18 81 488 45 + 13 +4,743 58,916 492 1,110 115 698 2,211 63,542 +1 ,228 - 570 + 658 + 370 + 288 +2,140 + 456 +2,596 +2,452 + 144 26,870 4,880 31,750 30,640 1,110 1,602 - 166 703 + 2,183 64,080 26,089 4,880 30,969 30,640 329 - 15 A net of $3 million of surplus reserves were eligible to be carried forward from the week ended July 14, into the week ending July 21. On July 21, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $18,126 million, an increase of $432 million for the week. J7 Includes $26 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 21, July 22, July 14, 1971 1970 1971 AiiII i 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 3y 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 (824) + - 7 281 57 25 + 25 75 + 75 75 68 +5*284 28,115 34,354 3,235 1/ 65,704 "~ 901 66,605 68,323 (3,133) 11,076 144 1^057 (3,957) 91,349 (824) + 71 + -345 + + 20 25 +1 ,934 + 68 + 901 + 969 + 788 -1 ,124 + 1 + 43 - 285 + 348 +7 ,566 + 901 +8 ,467 +8 ,932 + 847 + 23 106 +8 ,797 ,',''_ _, ', 51,983 293 +3,913 26,870 1,110 +1,927 -1,406 48 + 4 + 477 - 547 + 16 - 347 +3,936 + 129 65 115 698 (3,133) 28,793 8,362 (3,957) 89,706 568 730 702 211 + 1 — + 72 +3,928 + 927 24 +8,744 + + 61 227 * \J Figures in parentheses are the eliminations made in the consolidating process, Includes $26 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, JULY 21, 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 Within 15 days 1,559 5,393 43 +1,808 16 days to 90 days 2 39 13,377 - 605 91 days to 1 year — — 17,510 - 159 Over 1 year to 5 years — __ 23,600 s Over 5 years to 10 years -« --. ars 5,907 Over 10 years --— 893 Total 1,561 66,680 +1,044 82 970 10,075 400 274 1,561 44 33 24 12 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON i Total j Boston New York i < JULY 21, 1971 in Cleve- RichPhilamond delphia land Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) A S S E T S i 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 ftaik premises 9th.er assets 2/ TOTAL ASSETS y ~/ i ! 10,075 i 400 544 23 979 93 608 23 956 33 936 36 539 22 1,760 70 441 15 245 7 539 15 380 14 2,148 49 824 j 274 1 87 8 176 23 51 9 47 26 77 36 159 34 29 37 24 15 23 7 34 26 31 18 86 35 1,561 136 519 36 6 126 79 514 4 5 19 81 36 57 25 -- 57 25 -— --- -— — -- — -- --- — -- -— — -- --- -- — 3,836 — 75 75 28,115 — 1,298 7,347 1,490 2,122 -- -- -- -- 34,354 1,586 3,235 149 .1/ 65,704 3,033 -901 66,605 3,033 68,323 ; 3,169 8,978 1,821 2,592 172 244 845 17,170 3,483 4,958 -— 901 18,071 3,483 4,958 1.8,747 3,519 4,964 2,028 — 2,478 233 4,739 -- — 1,405 4,620 1,028 548 1,085 1,308 -- -- -- -- -- -- -- 1,717 162 3,284 5,645 532 10,797 1,256 118 2,402 669 63 1,280 1,327 125 2,537 1,598 151 3,057 4,687 441 8,964 -- -- -- -- -- -- 4,739 4,865 3,284 3,363 10,797 11,311 2,402 2,406 1,280 1,285 2,537 2,556 3,057 3,138 8,964 9,000 — — 14,209 144 1,057 851 2 56 2,280 8 374 745 3 50 1,059 19 64 1,099 13 62 1,421 16 43 2,377 17 135 733 14 30 587 17 17 895 18 33 879 9 49 1,283 8 144 95,306 4,740 22,680 5,008 7,168 7,124 5,597 15,736 3,678 2,188 4,116 4,518 12,753 Includes $26 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 Total Boston New York Phila- Clevedelphia land Richmond Atlanta JULY 21, 1971 Chicago St. Louis Minneapolis Kansas City San Dallas Francisco (In millions of dollars) 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 foreign correspondents 52,807 2,935 12,639 3,068 4,284 4,685 2,566 9,237 2,032 909 1,981 2,076 6,395 26,870 1,110 872 75 5 1 953 751 6,976 1,125 1,701 1,278 1,679 4,049 4,896 63 10 1 123 6 14 49 8 3 93 17 5 150 5 3 65 6 2 55 15 1,227 1,775 1,421 1,658 920 890 4,164 1,999 1,304 599 1,739 1,158 671 51 3 3 728 502 1,585 93 6 3 892 64 4 1 961 610 1,146 229 743 669 4,988 1,080 115 698 28,793 11,495 1/ 30 2/640 7,875 1,574 7? 568 26 161 28 42 39 27 87 20 13 21 25 79 93,663 4,665 22,249 4,922 7,021 7,035 5,490 15,487 3,623 2,152 4,049 4,428 12,542 730 702 211 33 33 9 191 185 55 38 36 12 66 63 18 38 36 15 49 47 11 109 105 35 25 24 6 17 16 3 31 30 6 41 39 10 92 88 31 95,306 4,740 22,680 5,008 7,168 7,124 5,597 15,736 3,678 2,188 4,116 4,518 12,753 227 11 3/ 60 11 20 11 15 34 5 JL0 13 29 939 2,064 2,222 8_ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,095 13,262 3,145 4,447 4,840 250 500 300 510 530 2,920 13,000 3,000 4.pop 4.375 3,170 13,500 3,300 4,510 4,905 V After deducting $ 85 million participations of other Federal Reserve Bahks. 2/ Includes IMF gold deposit. 3/ After deducting $167 million participations <Sr£ other Federal Reserve Banks. 2,765 9,515 2,126 1,000 155 2.900 8,750 2,030 960 2,125 2,280 7,000 2,900 9,750 2,185 960 2,125 2,285 7,000 — — 6,728 5
@FedFRASER