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.•^oicov^. FEDERAL RESERVE Factors Affecting Bank Rtstrvts and Condition Stattmtnt of F.R. I n k s For immediate release H.4.1 June 11, 1970 The average of daily figures for total reserves of member banks decreased $154 million in the latest statement week to $27,459 million. Required reserves, excess reserves, and member bank borrowings from Federal Reserve Banks all declined. A seasonal rise in currency in circulation and a significant decline in float were the major factors absorbing reserves in the latest week. These reserve drains were almost completely offset by a sizable decline in Treasury deposits with Federal Reserve Banks. In addition, the System supplied $154 million in reserves net, on a weekly average basis through repurchase agreements and outright purchases of Treasury bills and coupon issues. During the week a total of $211 million of these coupon purchases were made. Member bank borrowings declined below the average level of recent weeks and exceeded excess reserves by $738 million compared to $1,050 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, June 11, June 3 7 June 10, June 10, 1970 197Q 1969 i922 (In millions of dollars) 1/ 57,438 +3,518 57,552 + 143 86 15 65 + 16 13 41 11 2 4 3 1 38 369 + 369 264 19 411 11 8 77 404 90 + + 198 -l ,332 +1,988 +1,000 + 400 + 247 +3,636 +3,371 - 163 + 85 + 43 + 345 + 246 - 5S +3,92" 8 742 90 2,104 1,261 61,787 11,367 400 6,994 80,548 54,310 511 880 117 795 2,377 58,990 - + + 2,369 192 36 371 22,432 - 283 - 292 21,558 5,027 + 129 + 307 5,027 27,459 + - 154 15 26,585 + 345 27,341 97 27,341 330 118 - 756 57 NOTE: A net of $122 million of surplus reserves were eligible to be carried forward from the week ended June 3, into the week ending June 10. 1/ Includes $21 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On June 10, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $10,353 million, an increase of $384 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday June 10, June 3, June 11, 1970 1970 1969 ASSETS -+1,023 11,045 Gold certificate account — + 400 400 Special Drawing Rights certif. accts. + 16 4 205 (592) Cash 832 + 331 504 Discounts and advances Acceptances: Bought outright 4 8 38 -Held under repurchase agreements 23 Federal Agency obligations-85 Held under repurchase agreements U. S. Government securities : Bought outright— Bills +3,076 22,245 Certificates +1,919 32,420 Notes + 187 Bonds -1,241 + 24 2,887 Total bought outright + +3,754 208 1/ 57,552 Held under repurchase agreements - 269 Total U. S. Government securities 61 +3,754 57,552 Total loans and securlt-tes - 677 +4,077 58,422 Cash items in process of collection (2,232) + 19 624 9,050 Bank premises + 5 2 + 119 Other assets 2/ -1.336 + 44 1,142 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,824) +4,204 80 383 •1,251 k 1 £ 2. Ik 11 Ik 1 Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other 2/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES £ £ P I T A L ACCOUNTS Capital, paid in*" Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents * (592) 47,710 + 314 +3,087 21,558 -1,180 - 373 + 418 19 + 26 + 360 + 785 + 82 + +4,091 880 117 795 (2,232) 23,350 6,946 6_U (2,824) 78,618 684 669 412 229 14 20 -1,587 - 20 26. -1,319 — — _uz 68 + + + 25 39 49 2 + 51 Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $21 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. Zj Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JUNE 10, 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 Discounts and Federal Agency obligations Acceptances Holdings advances Weekly changes Within 15 days 736 12 -256 2,506 \ 16 days to 90 days 96 -145 26 10,149 91 days to 1 year + 68 13,564 Over 1 year to 5 years +146 25,395 Over 5 years to 10 years + 37 5,314 Over 10 years + 4 624 Total 832 38 -146 57,552 H.4.1(b) STATEMENT OF CONDITION OP EACH FEDERAL RESERVE BANK ON JUNE 10, 1970 Total ASSETS Gold certificate account Special Drawing Rights certif. acct. Boston Phila- Cleve- RichNew Atlanta Chicago mond York delphia land (In millions of dollars) St. Louis Minneapolis Kansas City Dallas San Francisco 11,045 400 777 23 2,607 93 614 23 890 33 1,067 36 693 22 2,011 70 342 15 127 7 444 15 311 14 1,162 49 F. R. notes of other banks Other cash 592 205 51 9 182 24 23 8 42 23 43 13 76 30 21 25 17 13 14 7 25 15 12 12 86 26 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 832 38 267 61 57 22 16 126 23 41 38 68 75 Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 1/ I1 38 38 1/ — 22,245 1,120 5,486 1,170 1,742 1,673 1,209 3,658 820 457 822 961 3,127 32,420 2,887 57,552 1,632 145 2,897 7,995 712 14,193 1,706 152 3,028 2,538 226 4,506 2,438 217 4,328 1,761 157 3,127 5,331 1,195 475 106 9,464 2,121 666 59 1,182 1,199 107 2,128 1,401 125 2,487 4,558 406 8,091 57^552 58,422 2^897 2,935 14,193 14,498 3,028 4,506 3,089 4,563 4,328 4,350 3,127 3,143 9,464 2,121 9,590 2,144 1,182 1,223 2,128 2,166 2 11,282 119 1,142 703 2 57 1,805 9 442 632 2 51 785 9 78 862 11 59 1,083 17 54 1,903 17 139 594 10 31 462 7 20 771 18 37 666 8 55 1,016 83,207 4,557 19,660 4,442 6,423 6,441 5,118 13,776 3,166 1,867 3,491 3,633 10,633 ^8T2_a_ L 09J_ 2,555 8,166 Tncludes $21 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. Includes assets denominated i.n foreigh currencies and IMF gold deposited. 9 119 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 10, 1970 Total Boston New York Phila- Clevedelphia land Richmond Atlanta 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 48,302 2,783 11,280 2,740 3,926 4,301 2,592 8,472 1,840 851 1,812 1,771 5,P34" 983 66 6 11 1,066 515 1,528 63 11 1,380 60 8 2 1,450 933 3,379 37 18 6 3,440 1,497 719 51 565 34 4 •3 1,602 694 1,132 120 6 10 1,268 728 1 775 469 1 603 362 889 1,148 54 72 7 5 2 3 969 1,211 615 531 3,454 52 15 18 3,539 841 21,558 880 117 795 23,350 9,178 1,018 641 5,438 202 1/ 28 2/741 6,409 1,352 612 81,442 31 4,473 153 19,194 31 4,352 48 6,270 45 6,342 33 5,008 99 13,508 22 3,106 1,829 684 669 412 32 32 20 182 177 107 35 34 21 61 60 32 35 34 30 45 43 22 101 99 68 23 23 14 16 15 7 4.557 19.660 4,442 6,423 6,441 5.118 13.776 3.166 1.867 1 83.207 943 69 6 ;' " Contingent liability on acceptances purchased for foreign correspondents 229 _ 11 3/60 12 20 12 15 34 8 23_ 3,419 3,540 87 10,401 38 37 18 87 87 58 3.491 3.633 10.633 L3_ 29 28 15 2Z_ . r 5 9 13 30 6,214 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 50,151 2,851 11,823 2,809 4,061 4,403 3,327 250 500 300 510 580 48,330 2,650 11,600 2,620 3,750 3.900 51,657 1 2,900 12,100 2,920 4,260 4,480 1/ After deducting $ 89 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. Digitized for3/ FRASER After deducting $ 169 million participations of other Federal Reserve Banks. 8,720 1,908 885 1,865 1,885 1,000 155 27 5 2.800 7.950 1.830 875 .-1.935 1.230.- 6.500 2,800 8,950 1,985 902 1,925 1,935 6,500 2,727
@FedFRASER