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FEDERAL '••f^Au^f. RESERVE ^Factors Affecting Boik Rtstrvit aid Condition Stattmtit of F.l. Banks For immediate release H.4.1 May 14, 1970 The average of daily figures of total reserves of member banks decreased $830 million in the latest statement week to $27,752 million. Required reserves and excess reserves also decreased while member bank borrowings increased. Several factors were significant in absorbing reserves in the latest week. The most important of these were a greater than seasonal rise in currency in circulation and an increase in Treasury deposits with Federal Reserve Banks. Declines in float and other Federal Reserve assets drained additional amounti of reserves. System Open Market operations supplied a moderate amount of reserves net, on a weekly average basis. Member bank borrowings exceeded excess reserves by $790 million compared with the revised figure of $428 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 NOTE: 1/ Aver astes o f dally figures Week ended Change from week ended Wednesday, May 13, May 6, 1 May 14, May 13, 1970 1970 1970 1 19J9 of dollars) i millions (I* 57,311 «• «• + 397 - 202 +4,655 - 583 62 69 -- 54 -/57,185 am mm •• •» 3 35 + - 3 74 54 - 813 90 + 40 760 90 2,935 2,098 63,301 11,367 - - 358 + 90 + 832 -1,048 +3',448 +1,000 + 400 + 225 +5,074 +3,609 - 144 +1,068 + 120 + 435 + 284 +5,371 1,691 232 955 2,072 59,224 + + - 22,463 4,952 27,415 27,729 - 314 -- 142 130 ~T3S — -- 400 545 - 1,726 247 886 2,255 59,227 22,800 4,952 27,752 27,729 23 + 10 126 457 12 213 + + 55 32 6,959 82,028 53,568 + - + + 12 + 757 - 884 + 54 - 830 - 508 322 299 245 54 184 238 2,757 2,108 62!954 11,367 400 6,966 81,687 53,725 549 A net of $209 million of surplus reserves were eligible to be carried forward from the week ended May 6, into the week ending May 13. Includes $37 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. $185 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday May 13, May 6 j May 14, 1969 1970 197Q A S S E T S Gold certificate account 11,045 +1,022 Special Drawing Rights certif. accts. 400 + 400 Cash 197 + 1 (610) 6 Discounts and advances 850 + 290 + 319 Acceptances: Bought outright 54 2 4 + Held under repurchase agreements 42 56 Federal Agency obligations-Held under repurchase agreements • 132 U. S. Government securities : Bought outright— Bills 22,297 +5,224 305 Certificates Notes 32,073 +2,027 Bonds -1.572 2,815 Total bought outright +5,679 305 1/ 57,185 Held under repurchase agreements - 166 235 Total U. S. Government securities 57,185 +5,513 540 Total loans and securities 58,089 - 413 +5,763 Cash items in process of collection (2,295) 10,286 - 101 + 409 Bank premises 118 + 1 + '4 Other assets 2_/ 1,990 + 17 -1,469 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,905) 82.125 +6.123 _49_5_ LI.A_BI_LI.TXES. 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 9. t l 11 b.h (610) 47,183 245 +3,296 22,463 1,691 +1,604 + 720 + 117 + 515 +2,956 - 364 + 163 +6,051 2,295) 25,341 7,529 584 -1 ,213 + 368 + 64 + 86 - 695 + 180 16 2,905) 80,637 -~•J8T 682 669 137 __ — - 208 - 232 955 ACCOUNTS Capital paid in Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents 209 + + + 29 39 4 2 + 75 * Figures in parentheses are the eliminations' made in the consolidating process. j_/ Includes $37 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 A N D SECURITIES, MAY 13, 1970 (Acceptances and securities held under repurchase agreements are classified as maturing w i t h i n 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities and Discounts and Federal Agency obligations Acceptances Holdings advances W e e k l y changes Within 15 days 16 795 14,549 -355 16 days to 9 0 days 38 9,496 55 -369 91 days to 1 year --11,599 + 52 Over 1 year to 5 years •s — 13,976 -Over 5 years to 10 years xars — — 6,953 Over 10 years — — — 612 Total •672 850 54 57,185 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON HAY 13, 1970 H.4.1(b) Total Boston New York Phila- Cleve- Rich- Atlanta Chicago mond delphia land St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) ASSETS 11,045 400 749 23 2,821 93 648 23 874 33 1,031 36 785 22 1,911 70 432 15 288 7 497 15 156 14 853 49 F. R. notes of other banks Other cash 610 197 57 9 171 26 23 7 45 23 48 11 85 27 19 26 16 12 11 7 29 12 17 11 89 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 850 149 110 33 86 93 35 168 10 21 33 68 44 54 -- 54 -- — — — — -- — -- -- -- -- t-» -- -- -- -- -- -- -- -- -- -- -- 1,115 5,630 --1,604 8,099 711 141 1 2,815 1/ 57,185 2,860 14,440 ""* — — -57,185 2,860 14,440 58,089 3,0W 14,604 1,131 -1,628 143 2,902 -2,902 2,935 1,712 1,652 --2,463 2,375 216 208 4,391 4,235 — — 4,391 4,235 4,477 4,328 1,204 -1,731 152 3,087 — 3,087 3,122 3,649 786 -— 5,248 1.,130 461 99 9,358 ,015 -— 9,358 ,015 9,526 ~T ^T23~ 427 -615 54 1,096 -1,096 822 -1,183 104 2,109 — 2,109 971 — 1 ,397 122 2 ,490 -2 ,490 3,198 -4,600 404 8,202 -8,202 1,117 2,142 T r53F 8,246 Gold certificate account Special Drawing Rights certif. acct. Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 1/ 2/ l 22,297 -;32,073 12,581 118 1,990 85,030 802 2 98 ~T ~T 2,151 9 668 725 2 95 885 8 147 928 11 112 1,213 17 105 2,063 17 272 673 10 61 440 7 35 860 18 69 747 8 89 1,094 9 239 4,749 20,543 4,458 6,492 6,505 5,376 13,904 3 ,244 1,912 3,642 3 ,600 10,605 Includes $37 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 MAY 13, 1970 Boston New York 47,793. 2,752 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 22,463 1,691 232 955 25,341 9,824 Kansas City San Dallas Francisco 838 1,786 1,742 5,855 601 49 5 4 659 370 939 129 9 16 1,073 3,311 109 12 2 189 27 18 1,093 1,196 3,545 680 556 917 Phila- CleveRich- Atlanta Chicago delphia land mond (In millions of dollars) St. Louis Minneapolis 11,184 2,715 3,888 4,270 2,557 8,388 1,818 1,057 6,332 1,129 1,516 3,391 224 915 124 11 8 1,478 101 10 9 162 18 8 164 11 16 136 13 8 199 31 34 1,058 1,666 1,320 582 762 794 1,673 1,019 3,655 1,548 721 105 7 12 845 510 31 1,177 721 1/ 78 7/820 7,454 1,365 584 29 144 28 44 42 83,542 4,679 20,147 4,383 6,360 6,426 682 669 137 32 32 6 182 177 37 34 34 7 61 60 11 35 34 10 85,030 4,749 20,543 4,458 6,492 208 10 3/ 55 11 18 92 20 12 21 25 96 5,280 ]L3,683 3,193 1,879 3,580 3,519 10,413 45 43 8 101 99 21 23 23 5 15 15 3 29 28 5 38 37 6 87 87 18 6,505 5,376 13,904 3,244 1,912 3,642 3,600 10,605 11 13 31 _7_ 4__ 9^ 12_ 27. FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 1/ 2/ 3/ 2,834 11,669 2,791 4,016 4,382 250 500 300 510 580 2,600 11,400 2,620 3,750 3,860 2,850 11,900 2,920 4,260 4,440 After deducting $154 million participations of other Federal Reserve Banks. Includes IMF gold deposit. After deducting $153 million participations of other Federal Reserve Banks. 8,598 1,888 871 1,000 155 27 2,800 7,950 1,780 860 1,875 1,930 6,500 2,800 8,950 1,935 887 1,875 1,935 6,500 2,712 — 1,840 1,834 6,122 5
@FedFRASER