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.v£s££2&.v FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release H.4.1 March 26, 1970 The average of daily figures of total reserves of member banks decreased $174 million in the latest statement week to $27,444 million. Both required and excess reserves decreased while member bank borrowings increased in the latest statment week. A seasonal rise in float was the major factor supplying reserves in this latest week. This source of reserves was partially offset by a drain in reserves due to a rise in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $200 million in reserves net, on a weekly average basis, through outright sales and matched-sale purchases. Some repurchase agreements were made, however, at the end of the statement week. Member bank borrowings exceeded excess reserves by $871 million compared to $678 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, March 25, Mar en IB, March 2b, March 25, 1970 1970 1970 1969 : dollars) t millions of (Ir 55,825 7 • 6 53 3 936 40 2,635 2,089 61,595 11,367 400 6,894 80,255 52,459 573 1,223 187 792 2,089 57,323 22,933 4,511 27,444 27,379 65 81 82 +3,924 - 159 1/55,532 46 31 8 43 6 24 53 23 28 + 40 + 318 - 799 +3,270 +1,000 + 400 + 73 +4,741 +2,988 - 148 + 608 + 22 + 356 + 230 +4,056 + 686 + 136 + 822 +1,025 - 203 1,554 40 2,182 2,101 61,574 11,367 400 6,900 80,241 52,553 581 1,479 194 815 2,106 57,728 22,513 4,511 27,024 27,379 - 355 - 2 5 + 119 — + + + 206 20 144 + + + 86 6 235 49 4 161 28 47 49 185 51 225 174 100 74 — - + + - + + + + - + NOTE: A net of $87 million of surplus reserves were eligible to be carried forward from the week ended March 18, into the week ending March 25. 17 Includes $34 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On March 25, 1970, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,191 million, an increase of $141 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday ^larch 25, March 18, March 26, 1970 1970 1969 ASSETS Gold certificate account +1,020 11,045 Special Drawing Rights certif. accts. — 400 + 400 Cash (800) 6 26 191 Discounts and advances + 974 1,594 + 597 Acceptances: -Bought outright 53 + 4 Held under repurchase agreements 2 23 5 Federal Agency obligations— Held under repurchase agreements 43 66 38 U. S. Government securities : Bought outright-Bills +3,172 20,644 570 Certificates Notes -32,073 +2,027 Bonds --1.572 2,815 Total bought outright 1/ 55,532 - 570 +3,627 Held under repurchase agreements - 190 46 59 Total U. S. Government securities - 760 55,578 +3,568 Total loans and securities + 143 57,291 +4,205 Cash items in process of collection (1,794) -2,026 - 290 ) 8,194 Bank premises 116 1 + 3 Other assets 2/ 1,985 69 - 802 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,594) +4,510 ) 79,222 -1,959 LIA B u n n s 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 L I 1 ^ L ACCOUNTS) Capital paid in Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents (800) 46,103 25 22,513 1,479 194 815 25,001 6,012 513 77,629 - 993 + 431 + 14 17 - 565 -1,413 22 •2,025 (1,794) (2,594) 681 669 243 - 66 172 +2,798 + 447 + 977 + + 57 367 +1 ,848 - 364 + 114 +4 ,396 + + + 40 39 35 h 7 52 + * Figures in parentheses are the eliminations made in the consolidating process. JV Includes $34 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 2J Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 25, 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 obi igations Discounts and Acceptances Holdings Wee]cly changes advances Within 15 days -340 2,911 37 i , 545 16 days to 90 days 49 39 21,719 + 59 91 days to 1 year --9,450 -545 Over 1 year to 5 years ---13,976 -— Over 5 years to 10 years 6,953 Over 10 years — -612 Total 594 55,621 -826 H i, STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 25, 1970 H.4.1(b) Total \ Boston Minneapolis Kansas City Dallas San Francisco 329 15 41 7 393 15 414 14 822 49 St. New PhilaCleve- RichAtlanta Chicago mond Louis York delphia land (In mi11ions of dollars) £ i iIli Gold certificate account Special Drawing Rights certif. acct. F. R. notes of other banks Other cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outrightBills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total D. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 11,045 400 589 3,277 93 23 744 23 927 33 1,081 36 611 1,817 22 70 800 191 80 8 201 26 30 7 65 20 61 12 124 26 29 22 21 12 11 7 33 12 33 12 112 27 1,594 235 320 54 26 35 45 383 15 34 56 64 327" 53 23 — __ 53 23 — -- — -- — -- — -- --- — — — -- — -- T~ 43 — 43 -- -- — — — -- — — 5,170 1,063 1,640 3,421 746 426 788 -- -- — -- 5,315 1,159 1,016 20,644 — -- ! 32,073 2,815 j/ 55,532 ' ~ 46 55,578 1 57,291 — 1,652 — 2,548 1,505 — 2,338 1,099 — 1,708 1,578 8,033 138 705 145 224 205 150 467 2,732 13,908 2,860 4,412 4,048 2,957 9,203 — £6. — — — — — 1,224 102 661 58 2,007 1,145 2,119 — — 107 — — -— 894 2,876 -- -- 1,389 4,468 392 122 ~~2 ,405 — 7,736 — 2,732 13,954 2,967 14,393 2,860 2,914 4.412 4,438 4.048 4,083 2.957 3,002 9.203 2,007 9,586 2,022 1.145 1,179 2,U9 2,175 ~2 .405 7.736 2 ,469 8,063 459 2 90 707 7 152 837 11 104 1,118 1,519 1,985 541 1,320 2 9 670 97 17 107 17 269 552 10 61 413 6 38 778 18 72 697 1,047 8 9 234 91 81,816 4,307 19,989 4,269 6,349 6,225 5,027 13,329 3,022 1,702 3,496 3 ,738 10,363 9,988 116 1/ Includes $34 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. — H.4.1(c) 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 accrvled 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 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 25, 1970 Kansas City San Dallas Francisco 812 1,731 1,693 5,735 693 65 6 2 766 412 502 53 4 2 561 282 948 100 8 5 1,061 618 1,329 93 10 2 1,434 504 3,414 128 24 16 3,582 763 84 13,090 18 2,968 12 1,667 20 3,430 22 75 3,653 10,155 45 43 13 100 99 40 23 23 8 15 15 5 6,225 5,027 13,329 3,022 1,702 29 28 9 3,496 9 11 6 4 7 1( 8,521 1,858 837 1,799 1,840 1,000 155 27 Phila- CleveRich- Atlanta Chicago St. Minnedelphia land mond Louis apolis (In millions of dollars) Total Boston New York 46,903 2,691 11,017 2,658 3,846 4,202 2,503 8,243 1,772 22,513 1,479 194 815 25,001 7,806 956 79 9 2 1,046 470 6,154 452 1/ 58 2/760 7,424 996 1,038 82 10 3 1,133 373 1,553 114 17 1 1,685 638 1,097 114 9 13 1,233 667 1,417 79 12 3 1,511 885 3,412 120 27 6 3,565 1,198 513 80,223 25 4,232 128 19,565 25 4,189 40 6,209 37 6,139 27 4,926 681 669 243 32 32 11 182 177 65 34 34 12 61 60 19 35 34 17 81,816 4,307 19,989 4,269 6,349 172 8 3/45 9^ _ 15 26_ 38 37 10 87 87 34 3,738 10,363 L 22 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 11,591 2,738 4,035 4,331 250 500 300 510 545 2.600 11.400 2.620 3.750 3,860 2.800 7.950 1.780 835 1.875 1.930 6.500 2,850 11,900 2,920 4,260 4,405 2,800 8,950 1,935 862 1,875 1,935 6,500 1/ After deducting $136 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $127 million participations of other Federal Reserve Banks, 2,684 6,060 2,799 — 5 —
@FedFRASER