The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL : ?f«M^-'' RESERVE Factors Affecting Bank Reserves and Condition Statement of F*E. Banks For immediate release July 30, 1970 H.4.1 The average of daily figures of total reserves of member banks declined $950 million in the latest week to $22,973 million. Excess reserves dropped sharply to a very low level. Required reserves and member bank borrowings at Federal Reserve Banks also decreased. Currency declined at a greater than seasonal rate for the second week and was the only factor supplying a significant amount of reserves in the latest statement week. Float, falling sharply by $681 million, drained reserves. In addition, open market operations absorbed $305 million in reserves net, on a weekly average basis. A run off of repurchase agreements made in the previous week accounted for most of this reserve absorption. However, a small amount of reserves were drained (on a weekly average basis) through matched sales purchases toward the end of the statement week. Member bank borrowings averaged below recent weeks and exceeded excess reserves by $1,229 million compared to the revised figure of $1,220 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 obligationsHeld 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 29, July 22, July 30, July 29, 1970 1970 1970 1969 (In millions of dollars) 1/ 58,267 +4,370 42 58,338 188 38 37 + -- - 1,231 40 2,486 1^307 63,367 11,367 400 6,993 82,128 - + 3 -1,133 54,488 460 1,059 173 758 2,217 59,155 22,973 5,090 28,063 28,061 2 259 5 23 8 10 + 47 + - 182 - 950 + 651 - 299 - 134 - 165 4 41 156 43 681 + 50 -1,137 --- - + + 4 — 37 — - 38 + 40 + 262 -1,383 +3,246 +1,000 + 400 + 256 +4,903 776 40 2,262 Ij330 62,783 11,367 400 6j999 81,549 +3,482 - 216 - 118 + 50 + 305 + 198 +3,700 +1,203 + 266 +1,469 +1,613 - 144 54,587 464 1,038 171 767 2,234 59,261 22,288 5,090 27,378 28,061 - 683 A net of $130 million of surplus reserves were eligible to be carried forward from the week ended July 22, 1970,into the week ending July 29, 1970. 1/ Includes $22 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On July 29, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $11,726 million, an increase of $487 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions o f dollars) Wednesday July 29, 1970 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 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 Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other 37 Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES Change since July 30, July 22, 1970 1969 ..— -- - 399 +1,018 + 400 + 46 - 169 + 200 +4,744 200 +1,867 -1,256 +5,355 11,045 (850) 400 202 816 1 37 23,031 32,420 2,887 1/ 58,338 f 46 +5,355 +5,182 + 298 + 7 -1,387 (3,367) 81,209 -1,282 +5,564 (850) 47,932 138 +3,051 (2,517) 58,338 59,191 9,041 + 200 - 199 -1,128 121 1,209 -- + 22,288 1,038 171 767 + 585 57 9 3 +1,922 - 189 + 50 + 302 (2,517) 24,264 6,779 575 - 540 656 17 +2,085 + 222 + 123 (3,367) 79,550 -1,351 +5,481 A C C O U N T S C A P I T A L + Capital paid in 686 + Surplus 669 Other capital accounts 304 •+ 69 Contingent liability on acceptances purchased 4for foreign correspondents 239 idating process. * Figures in parentheses are the eliminations made in the consol J7 Includes $22 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 29, 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 advances Acceptances Holdings Weekly changes Within 15 days 768 6 3,146 +322 - 22 16 days to 90 days 48 3L 10,099 91 days to 1 year 13,760 -100 — Over 1 year to 5 years 25,395 — Over 5 years to 10 years 5,314 Over 10 years 624 Total 37 58,338 +200 816 24 39 20 87 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON July 29, 1970 Total Boston New Phila- Cleve- RichAtlanta Chicago mond York delphia land St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) ASSETS Gold certificate account Special Drawing Rights certif. acct. 11,045 400 630 23 3,101 93 587 23 857 33 1,152 36 551 22 1,653 70 355 15 283 7 464 15 314 14 1,098 49 8 184 23 68 7 58 24 65 12 131 30 31 28 30 12 32 6 40 16 27 13 112 23 72 F. R. notes of other banks Other cash 850 i 202 1 Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligationsHeld under repurchase agreements U. S. Government securities: Bought outright— Bills f: Certificate* Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities 816 i 42 103 24 103 13 18 288 18 12 15 128 52 37 __ --- 37 __ --- --- --- --- -_ -- __ — -__ -_w -__ -__ -- -- -- -- -- — -- __ -- -- -- -- -- 32,420 2,887 58,338 1,174 5,715 --1,652 8,044 716 147 2,973 14,475 1,178 — 1,658 148 2,984 1,783 1,736 --2,510 2,443 218 224 4,517 4,397 1,254 -1,766 157 3,177 3,797 — 5,345 476 9,618 842 -1,184 105 2,131 436 -615 55 1,106 882 -1,243 111 2,236 991 -1 ,395 124 2 ,510 '3,Z43 -4,565 406 8,214 58,338 59,191 2,973 14,475 3,015 14,615 2,984 3,008 4,517 4,397 4,620 4,410 3,177 3,195 9,618 9,906 2,131 2,149 1,106 1,118 2,236 2,251 2 ,510 2 ,638 8,214 8,266 1,101 17 56 1,905 17 153 570 11 35 444 8 19 783 18 39 730 8 46 1,088 9 133 5,103 13,763 3,177 1,917 3,626 3 ,790 10,778 Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 23,031 -1/ 11,558 121 1,209 84,576 679 2 60 1,890 9 459 657 2 56 855 9 83 856 11 70 4,489 20,374 4,408 6,539 6,612 ...•.'•>&»$. k&ui-...xi 2/ Includes $2^2 Mtnillion securities 1oaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks, Includes assets denominated in fo reign currencies and IMF gold deposited. 1 (c^ STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 29, Total New York Boston Phila- Clevedelphia land Richmond Atlanta Chicago 1970 St. Louis Minneapolis Kansas City San Dallas Francisco (In millions of dollars) L I A B I L I T I E 5 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 O t h e r c f l n lt^^ #rr m i n t s TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign c orrespondents 48,782 22,288 1,038 171 767 24,264 9,296 575 82,917 2,807 11,429 4,357 2,581 8,596 1,850 852 1,821 1,810 5,935 937 57 1,546 1,251 1,374 3,221 77 58 615 32 921 138 3,522 125 730 55 1,220 73 68 139 9 3 1,006 15 2 1,636 9 11 1,396 11 2 1,464 2 65.3 / 5 1,071 10 2 1,300 22 21 3,704 525 733 725 922 25 8 3,312 1,511 365 644 566 838 25 86 6,041 8 2 969 605 1/ 45 2/704 6,957 1,408 29 141 28 45 43 31 93 21 11 22 4,410 19,935 4,323 6,394 6,521 4,998 13,512 3,121 1,881 3,558 183 35 61 35 45 101 23 16 29 39 87' 177 79 34 16 60 24 34 22 43 99 51 23 10 15 5 28 11 37 13 87 41 4,489 20,374 4,408 6,539 6,612 5,103 13,763 3,177 1,917 3,626 12 21 12 16 36 8 5 10 13 31 1,910 1,957 6,326 5 -- 1.980 6.500 32 669 304 32 15 239 3,980 910 49 686 84,576 2,764 167 12 3/ 63 .... .-...17., 6 5 796 454 3,701 •10,563, 3,790 L0,778 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral J7 l_l 3/ 2,916 11,983 2,844 4,151 4,499 500 300 510 580 49,110 2,730 11,600 2,700 3,750 3.970 52,432 2,980 12,100 3,000 4,260 4,550 51,063 3,322 2 50 After deducting $126 million participations of other Federal Reserve Banks. Includes IMF gold deposit. After deducting $176 million participations of other Federal Reserve Banks. 8,898 1,936 889 1,000 155 22 2.900 8.250 1.880 875 2,900 9,250 2,035 897 J:'?7£L 1,905 2,754 — — 1.975 $?509.l
@FedFRASER