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FEDERAL RESERVE Factors Affecting Bank Reserves and ondition Statement of F.R. Banks H.4.1 For immediate release March 11, 1971 The average of daily figures of total reserves of member banks decreased $66 million to $29,451 million. Required reserves also decreased while excess reserves and member bank borrowings at Federal Reserve Banks increased. An increase in float was the only factor supplying a significant amount of reserves in this latest statement week. Reserves were drained by a greater than seasonal rise in currency in circulation and an increase in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $438 million of reserves net, on a weekly average basis. Member bank borrowings rose above the average of the past two weeks and exceeded excess reserves by $291 million compared to $146 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 o f daily figures Week ended [Change from week ended Wednesday, March 10, 'March 3, March 11, March 10, 1970 1971 1 1971 1971 (In millions of: dollars) _ - 310 104 +6,776 + 33 1/ 62,233 4 7 4 30 48 4 2 15 7 4 47 28 161 - 511 40 + 478 -1,184 +5,553 - 635 + 100 + 336 +5,354 1,521 -2,304 62,169 33 421 -2,905 829 66,413 10,732 + -- + - --- 400 7,223 84,768 + 56,000 + 467 - 1,044 + 136 732 - 2,379 60,759 24,010 5,441 29,451 29,321 130 202 15 89 - + + - + - + 13 76 281 2 120 2 36 58 419 494 428 66 82 16 232 861 67,256 10,732 400 7,225 85,613 +3,681 - 108 56,270 5 76 1,203 + 18 + 146 +3,656 +1,699 + 519 +2,218 +2,159 + 59 469 134 745 2,402 61,223 24,391 5?441 29,832 29,321 511 A net of $147 million of surplus reserves were eligible to be carried forward from the week ended March 3, into the week ending March 10. On March 10, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $14,141 million, an increase of $890 million for the week. \J Includes $42 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 Mar. 3, Mar. 10, Mar. 11, 1971 1971 1970 A S S E T S - 581 10,464 Gold certificate account 100 + 400 Special Drawing Rights certif. accts. + 1 70 + 266 (1,034) Cash +1,259 1,521 +1 ,025 Discounts and advances Acceptances: _ 6 Bought outright 47 Held under repurchase agreements 16 + 28 28 Federal Agency obligations-30 30 1 Held under repurchase agreements U. S. Government securities : Bought outright— +5,403 257 25,437 Bills Certificates -Notes +1,645 33,718 — Bonds + 263 3,078 Total bought outright +7,311 1/*,. 62,233 - 257 + 232 Held under repurchase agreements 16 232 Total U. S. Government securities +7,543 - 273 62,465 Total loans and securities +8,620 + 971 64,091 Cash items in process of collection (2,561) -1,221 9,720 + 691 Bank premises — + 17 133 Other assets 2J 6 -1,190 728 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,595) 85,802 - 255 +7,727 tlAHLIHiS Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES £ A P I 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 (1,034) 360 +3,405 185 + 243 + 20 + 5 + 83 - 745 17 - 319 +3 ,731 + 30 80 + 5 +3 ,686 + 484 + 5 +7 ,580 49,511 24,391 1,203 134 745 (2,561) 26,473 7,416 (3,595) 83,937 537 713 702 450 - + 63 261 + + + 100 * Figures in parentheses are the eliminations made in the consolidating process. JL/ Includes $42 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, MARCH 10, 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 1,521 45 3,127 +168 16 days to 90 days — 30 14,911 -233 91 days to 1 year — — 14,302 -207 Over 1 year to 5 years '3 -— 23,420 Over 5 years to 10 years >ars — — 5,922 Over 10 years — -— 813 Total •272 75 1,521 62,495 32 33 82 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Philadelphia Cleveland Richmond MARCH 10, 1971 Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (In millions^ of dollars) A S S E T S Gold certificate account Special Drawing Rights certif. acct. 10,464 400 562 23 2,176 649 23 864 33 892 36 451 22 1,794 70 450 15 141 7 412 15 630 14 1,443 93 49 F. R. notes of other banks Other cash 1,034 266 128 11 241 19 39 11 60 30 62 16 321 35 24 41 15 15 10 7 26 26 24 16 84 39 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 1,521 11 865 1 -- 14 9 544 -.- 3 1 -- 73 47 28 --- --- --- --- -- -- --- --- -— --- — -- Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 1/ 2/ i' 47 ! 28 -- 30 30 25,437 1,276 6,467 1,315 1,952 1,918 1,273 4,147 -- -- -- -- -- -- -- -- 943 -- 33,718 3,078 1/ 62,233 1,691 8,573 1,743 2,587 2,542 1,688 5,496 1,251 154 783 159 236 232 154 502 115 511 -677 62 3,121 15,823 3,217 4,775 4,692 3,115 10,145 2,309 1,250 232 62,465 "64,091 12,281 133 728 89,397 1,004 1,177 -- -- -- 1,330 1,561 4,579 121 142 418 2,455 2,880 8,451 232 -- -- -- -- -- -- -- -- -- -- 3,121 16,055 3,132 17,025 3,217 3,218 4,775 4,775 4,692 4,706 3,115 3,124 10,145 2,309 2,-309 T723T7 2,455 874TT 1,253 2,456 2,880 2,880 o30 3 41 848 14 959 11 1,230 2,056 17 507 13 880 18 757 9 41_ 43 17 40 82 637 13 20 1,036 8 296 U_ 20 25_ 8 70 4,547 21,948 4,614 6,665 6,725 5,240 14,773 3,474 1,950 3,853 4,355 11,253 -- 651 2 38 2,090 10,689 Includes $42 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. 3,454 8,524 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 10, 1971 Total Boston New York 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 Rich- Atlanta Chicago Phila- Clevemond delphia land (In millions of dollars) St. Louis Minneapolis Kansas City San Dallas Francisco 50,545 2,854 12,097 2,883 4,114 4,514 2,511 8,835 1,934 866 1,864 1,908 6,165 24,391 1,203 906 49 6 1 962 617 6,872 993 84 7 3 1,536 1,160 1,427 3,696 3,719 117 9 1 168 20 18 107 5 2 101 7 8 125 16 25 1,087 1,621 1,296 3,885 769 3,902 1,665 1,732 726 1,554 1,033 1,162 522 556 52 3 2 613 420 1,616 114 7 15 862 66 4 1 933 524 1,048 73 12 — 729 592 883 134 745 26,473 9,977 147 1/ 38 7/669 7,726 1,497 537 27 142 26 40 39 26 85 19 11 21 24 77 87,532 4,460 21,462 4,518 6,501 6,618 5,124 14,487 3,410 1,910 3,776 4,256 11,010 713 702 450 33 33 21 186 185 115 37 36 23 65 63 36 37 36 34 48 47 21 107 105 74 24 24 16 16 16 8 30 30 17 40 39 20 90 88 65 89,397 4,547 21,948 4,614 6,665 6,725 5,240 14,773 3,474 1,950 3,853 4,355 11,253 261 12 3/ 69 13 24 13 17 39 9 11 15 33 901 ^ 1,939 2,030 6,445 6__ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral V 2/ 3/ 3,003 12,748 2,949 4,297 4,647 250 500 300 510 500 2,840 12,600 2,800 3,900 4,210 3,090 13,100 3,100 4,410 4,710 After deducting $ 96 million participations of other Federal Reserve Banks. Includes IMF gold deposit. After deducting $192 million participations of other Federal Reserve Banks. 2,768 9,050 2,005 1,000 155 2,900 8,450 1.930 930 1,975 2,130 7,000 2,900 9,450 2,085 930 1,975 2,135 7,000 5
@FedFRASER