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FEDERAL RESERVE Factors Affecting Bank Reserves anil Condition Statement of F.R. Banks For immediate release H.4.1 June 18, 1970 The average of daily figures for total reserves of member banks increased $221 million in the latest statement week to $27,680 million. Required reserves and excess reserves both increased while member bank borrowings from Federal Reserve Banks declined. A seasonal increase in currency in circulation and a rise in Treasury deposits with Federal Reserve .Banks were the major factors draining reserves during the statement week. These reserve decreases were in part offset by a rise in other Federal Reserve assets and a delcine in other Federal Reserve liabilities and capital. A seasonal rise in float provided additional reserves. System Open Market operations supplied $539 million in reserves net, on a weekly average basis through outright purchases of Treasury bills. Member bank borrowings declined for the second week and exceeded reserves by $418 million compared with $738 million for the previous week. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securities— Bought outright--Systera 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: Averages of daily figures Week ended Change from week ended Wednesday, June 17, June 18, June 17, June 10, 1970 1970 1970 1969 : dollars) i millions of (IT 1/ + 57,977 57,823 +3,939 539 --86 -— 16 -- 38 3 11 -- -- 658 90 2,921 1,371 63,055 11,367 400 6,996 81,819 54,261 499 1,010 157 835 2,180 58,942 22,876 4,804 27,680 27,440 240 198 -- + + + 335 143 703 --- + + + 5 708 224 17 + 191 + 12 + 42 - 189 + 263 + 444 - 223 + 221 99 + + 122 7 - 657 + 90 + 410 -1,246 +2,529 +1,000 + 400 -»• 251 +4,181 +3,484 - 172 87 + 55 + 382 + 266 +3,929 + 252 + 392 + 644 + 503 | + 141 — 38 — 370 90 3,472 1,414 63,207 11,367 400 6,999 81,973 54,347 495 1,092 197 797 2,152 59,080 22,893 4,804 27,697 27,440 257 A net of $87 million of surplus reserves were eligible to be carried forward from the week ended June 10, into the week ending June 17. 1/ Includes $12 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On June 17, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $10,720 million, an increase of $367 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 18, June 10, June 17, 1970 1969 1970 A S S E T S +1,023 11,045 Gold certificate account + 400 Special Drawing Rights certif. accts. 400 + 17 Cash (633) + 3 208 Discounts and advances 460 - 372 - 309 Acceptances: Bought outright 38 Held under repurchase agreements Federal Agency obligations-Held under repurchase agreements U. S. Government securities : Bought outright— 22,516 Bills + 271 +4,182 Certificates Notes 32,420 +1,919 Bonds -1,241 2,887 Total bought outright +4,860 + 271 1/ 57,823 Held under repurchase agreements Total U. S. Government securities +4,860 57,823 + 271 Total loans and securities 58,321 - 101 +4,545 Cash items in process of collection (3,150) 12,136 +3,027 +1,645 Bank premises — + 5 119 Other assets 7J + 153 -1,261 1,295 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,783) §3|524 +3,082 +6J374 L1 £ HL Ik 1111L 1 Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other 2J Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES £ £ P JL T A L A C C O U N T S Capital paid in Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents (633) 47,729 + 19 +3,149 22,893 1,092 +1,276 + 212 + 80 + 21 +1,589 +1,699 + +2,169 - 260 + 91 + 375 +2,375 + 625 197 816 (175) (175) (2,975) 24,998 8,645 (3,783) 81,991 +3,314 +6,302 684 669 180 — — -232 + + 25 39 + 8 - + 52 2 2 8 1 * 1/ Figures in parentheses are the eliminations made in the consol idating process. Includes $12 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, JUNE 17, 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 advances Acceptances Weekly changes +401 2,907 Within 15 days 362 13 16 days to 90 days 98 25 9,768 -381 91 days to 1 year 13,815 +251 — Over 1 year to 5 years 25,395 Over 5 years to 10 years — 5,314 Over 10 years 624 ._...--. Total 460 38 57,823 +271 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York JUNE 17, 1970 Cleve- RichPhilaAtlanta Chicago mond delphia land St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) ASSETS Gold certificate account Special Drawing Rights certif. acct. 11,045 400 701 23 2,639 93 419 23 1,047 33 1,002 36 530 22 2,189 70 349 15 71 7 472 15 379 14 1,247 49 F. R. notes of other banks Other cash 633 208 46 8 184 24 27 8 44 24 51 13 85 30 23 26 20 12 15 7 28 16 16 14 94 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 460 29 88 5 39 7 50 120 9 60 30 11 12 38 -- -— 38 -- --- --- --- --- --- --- — -- --- --- -— -- -- — — — -- -- -- -- -- -- •t — 462 -666 59 ,187 -- 973 -1 ,401 125 2 ,499 -2~,499 2 ,510 3,165 — 4,558 406 8,129 -8,129 8,141 Cash items in process of collection Bank premises Other assets 2J TOTAL ASSETS 1/ 2/ \j ~~ 22,516 1,134 --32,420 1,632 2,887 145 57,823 2,911 --57,823 i 2,911 58,321 2,940 5,553 -7,995 712 14,260 -14,260 14,386 1,184 1,764 --1,706 2,538 152 226 3,042 4,528 --3,042 4,528 3,047 4,567 1,693 -2,438 217 4,348 -4,348 4,355 1,223 -1,761 157 3,141 -3,141 3,191 3,703 -5,331 475 9,509 -9,509 9,629 830 -1,195 106 2,131 -2,131 2,140 1 J87 1 ,247 832 -1,199 107 2,138 -2,138 2,168 706 2 63 3,279 9 481 935 1,061 2 9 88 58_ 1,169 11 66_ 1,375 17 63 2,481 17 173 711 10 36 546 7 23 933 18 41 807 8 55 1,283 9 148 6,873 6,703 5,313 14,608 3,293 1 ,923 3,691 3 ,803 10,997 15,286 119 1,295 87,307 4,489 21,095 4,519 r Includes $12 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. STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 17, 1970 H.4.1(c) Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis Kansas City San Dallas Francisco 1,810 1,779 (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 accnled dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for fore]Lgn correspondents 3,937 4,294 2,592 8,487 1,838 852 766 6,358 71 185 9 1/ 65 7/830 846 7,438 746 1,799 887 1,722 1,156 58 150 57 16 9 9 14 18 16 969 1,810 1,333 942 947 687 1,350 52 12 16 1,430 1,160 3,724 78 27 27 746 68 6 9 829 551 154 619 29 85,774I 4,417 20,689 33 47 49 4,440 6,738 6,621 33 5,215 22 100 14,378 3,240 534 33 4 4 575 447 15 1,889 35 34 13 45 43 10 6,873 6,703 5,313 23 23 7 14,608 3,293 12 15 48,362 2,796 11,298 22,893 1,092 197 972 25,154 11,639 2,751 182 177 47 | 87,307 4,489 21,095 4,519 11 3/ 60 12 ! 6841 669 180! 2281 32 32 8 35 34 10 61 60 14 18 3,856 1,935 101 99 30 34 8 16 15 3 1,923 5 5,928 944 1,176 3,530 107 158 75 23 7 10 25 5 8 1,063 1,269 3,736 732 645 1,048 23 27 87 3,628 3,720 10,799 29 38 87 37 87 28 8 24 6 3,691 3,803 10,997 10 13 30 1,890 6,222 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account 2,815 4,093 4,411 500 300 510 580 2,650 11,600 2,620 3,750 3,900 2,900 12,100 2,920 4,260 4,480 of other Federal Reserve Banks, After deducting $132 million participations Includes IMF gold deposit. After deducting $168 million participations of other Federal Reserve Banks. U. S. Government securities Total collateral 1/ 2/ 3/ 2,883 11,848 250 8,760 1,913 882 1,000 155 27 2,800 7,950 1,830 875 1,925 1,930 6,500 2,800 8,950 1,985 902 1,925 1,935 6,500 2,741 1,882 5
@FedFRASER