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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release June 25, 1970 The average of daily figures for total reserves of member banks declined $462 million in the latest week to $27,254 million. Both required reserves and excess reserves decreased while member bank borrowings at Federal Reserve Banks increased. A seasonal rise in float was the major source of reserves in the latest week. This source of reserves was in part offset by a rise in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $678 million in reserves net, on a weekly average basis. Of this reserve absorption $145 million was made through matched sale-purchase transactions. Member bank borrowings were above the average level of the past two weeks and exceeded reserves by $823 million compared with the revised figure of $382 million for the previous week. NOTE: ' 678 +3,435 57,005 38 — 5 I Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held Required reserves Excess reserves 57,299 CO 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 Averages of daily figures Week ended Change from week ended Wednesday, June 24, June 17, June 25, June 24, 1970 1970 1970 1969 : (Int millions of dollars) y 2/ 1 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 887 90 + 229 3,157 1,424 62,895 11,367 + 200 + 53 - 196 -- --- 400 7,004 81,666 54,172 484 1,195 207 800 2,189 59,047 22,618 4,636 273254 27,190 64 + - + + - + + — 8 188 89 15 185 50 35 9 105 294 168 ~W2 250 212 - 436 + 90 + 475 -1,251 +2,308 +1,000 + 400 + 253 +3,96,1 +3,486 I - 180 | 94 j + 98 + 332 + 231 +3,873 + 88 + 200 + 288 + 415 - 127 751 90 2,408 1,541 61,829 11,367 400 7^008 80,604 54,223 475 1,136 246 815 2,208 59,103 21,500 4,636 26,136 27,190 -1,054 A net of $175 million of surplus reserves were eligible to be carried forward from the week ended June 17, into the week ending June 24 „ jL/ Reflects $484 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $46 million securities loaned--f*lly secured by U. S. Government securities pledged with Federal Reserve Banks. On June 24, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $10,490 million, a decrease of $230 million for the week. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday June 17, June 24, June 2 5 , 1970 1970 1969 A S S E T S 11,045 +1,023 Gold certificate account — Special Drawing Rights certif. accts. * 400 — + 400 Cash (704) 216 + 8 + 33 Discounts and advances 841 + 381 - 507 Acceptances: Bought outright 34 Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities : Bought outright-Bills 21,698 818 +3,121 Certificates Notes 32,420 +1,919 — Bonds — 2,887 -1,241 Total bought outright - 818 +3,799 1/ 2/ 57,005 Held under repurchase agreements ---Total U. S. Government securities 57,005 - 818 +3,799 Total loans and securities 57,880 +3,283 - 441 Cash items in process of collection >20) 10,042 -2,158 + 551 Bank premises + 6 -119 Other assets 3/ 1,422 -1,171 + 127 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS -2,464 +4,125 (3,324) 81,124 H.4.1(a) L I A * Ik II11L 1 Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other kj Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS C a p i t a l paid in Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents (704) 47,585 144 +3,035 21,500 1,136 -1,457 + 44 + 49 + 305 - 411 + 140 + 357 + 391 + 458 + 154 +4,038 246 815 1 (2,620) 23,697 7,634 603 16 (3,324) 79,519 -2,536 685 669 251 228 -1,365 -1,011 + 71 + + + 27 39 21 -- + 58 1 -•• * Figures in parentheses are the eliminations made in the consolidating process. \J Reflects $484 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $46 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 47 Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNEJ 24, 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 Acceptances Holdings advance28 Weekly changes 11 2,203 Within 15 days 744 -704 16 days to 90 days 23 97 9,811 + 43 91 days to 1 year --13,658 -157 Over 1 year to 5 years •s — 25,395 -Over 5 years to 10 years »ars 5,314 --Over 10 years — — 624 — Total 57,005 841 34 •818 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 24, 1970 Total Boston New PhilaYork delphia Cleve- Rich- Atlanta Chicago mond land St. Louis Minneapolis Kansas City Dallas San Francisco din millions of dollars) ASSETS 11,045 400 780 23 1,761 93 520 23 879 33 1,049 36 745 22 2,211 70 332 15 107 7 499 15 369 14 1,793 49 F. R. notes of other banks Other cash 704 216 51 8 202 26 32 10 52 25 50 12 92 30 34 29 24 13 19 8 29 16 19 13 100 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 U 2/ Held under repurchase agreements Total U. S. Government securities Total loans and securities 841 25 150 24 41 14 83 161 15 93 35 83 117 — — — — Gold certificate account Special Drawing Rights certif. acct. Cash items in process of collection Bank premises Other assets 3/ TOTAL ASSETS 1/ 2/ 3/ 34 —— 34 — — —— —" -:: 21,698 1 ,093 5,351 1,141 1,699 1,632 1,179 3,568 800 445 802 938 3,050 32,420 ! l,632 2,8871i 145 57,005| .2,870 7,995 712 14,058 1,706 152 2,999 2,538 226 4,463 2,438 217 4,287 1,761 157 3,097 5,331 1,195 106 475 9,374 2,101 666 59 1,170 1 ,199 107 ~2 ,108 1 ,401 125 2 ,464 4,558 406 8,014 57,005 2 ,870 57,880 2 ,895 14,058 14,242 2,999 3,023 4,463 4,504 4,287 4,301 3,097 3,180 9,374 9,535 2,101 2,116 1,170 1,263 2 ,108 2 ,143 2 ,464 2 ,547 8,014 8,131 796 2 71 2,279 9 516 787 2 65 863 9 100 925 11 74 1,198 17 71 1,986 17 181 616 10 42 472 7 28 914 18 47 736 8 70 1,090 9 157 84,448 4 ,626 19,128 4,462 6,465 6,458 5,355 14,063 3,168 1,911 3 ,681 3 ,776 11,355 12,662 119 1,422 Reflects $484 million of securities sold, and scheduled to be bought back, under matched sale - purchase transactions. Includes $46 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 JUNE 24, 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 Contingent liability on ace eptances purchased for forei gn correspondents Boston New York 48,289 2,798 11,297 21,500 1,136 246 815 23,697 10,254 939 100 11 * 1,050 671 603 82,843 685 669 251 1 84,448 228 Phila- CleveRich- Atlanta Chicago St. Minnedelphia land Louis apolis mond (In millions of dollars) Kansas City San Dallas Francisco 2,749 3,927 4,295 2,581 8,481 1,834 851 1,802 1,774 5,900 4,706 58 1/ 84 2/745 5,593 1,666 895 72 11 5 983 616 1,467 69 20 1,556 794 1,123 109 11 7 1,250 781 1,504 89 14 2 1,609 1,029 3,453 116 33 23 3,625 1,620 699 62 7 1 769 488 572 38 5 2 617 393 946 1,209 94 99 12 9 3 3 1,057 1,318 734 572 3,987 230 29 24 4,270 890 31 148 4,550 18,704 32 4,380 48 6,325 44 6,370 33 96 5,252 13,822 22 3,113 14 1,875 22 26 3,615 3,690 87 11,147 32 32 12 183 177 64 4.626 19.128 11 3/ 60 35 34 L3_ 61 60 L2_ 35 34 L9_ 4.462 6.465 6.458 12 20 12 45 43 L5_ 101 99 41_ 5.355 14:063 15 23 23 9_ 16 15 5_ 3.168 1.911 8 5 34 29 28 9_ 38 37 11 87 87 34 3,681 3.776 11.355 9_ 13 29 6,205 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 1/ 2/ 3/ 2,880 11,852 2,818 4,084 4,416 2,756 8,774 1,919 878 1,890 1,906 500 300 510 580 -- 1,000 155 22 5 2,650 11,600 2,620 3,750 3,900 2,800 7,950 1,830 875 1.925 1.930 6.500 2,900 12,100 2,920 4,260 4,480 2,800 8,950 1,985 897 1,925 1,935 6,500 250 After deducting $ 162 million participations of other Federal Reserve Banks. Includes IMF gold deposit. After deducting $168 million participations of other Federal Reserve Banks. * Less than $500,000.
@FedFRASER