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of cow. f^LRt^fT* FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release May 20, 1971 H.4.1 The average of daily figures of total reserves of member banks increased $281 million in the latest statement week to $30,385 million. Required reserves and member bank borrowings at Federal Reserve Banks both increased while excess reserves declined. The major factors draining reserves in the latest week were declines both in the gold stock and Other F.R. assets and an increase in currency in circulation. These reserve drains were offset by a decline in Other F.R. liabilities and a moire than seasonal increase in float. In addition, System Open Market operations supplied $296 million in reserves net, on a weekly average basis. These reserves were provided both through repurchase agreements and outright purchases of securities, the latter including some System buying of coupons. Member bank borrowings averaged $308 million and exceeded excess reserves by $193 million. In the previous week member bank borrowings were $144 million less than excess reserves. 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 Averages of daily figures Week ended Change from week ended Wednesday, May 19, May 19, May 12, May 20, 1971 1971 1970 1971 (In millions of dollars) 64,452 311 471 167 +7, 191 + 173 41 97 60 33 1 5 308 210 2,966 1,109 69,280 10,332 400 7,354 87,367 57,266 499 1,248 162 697 2,148 62,019 1/ 64,530 521 + + + + + - + - 7 13 59 89 985 405 188 723 229 871 90 230 480 +5,718 -1,035 505 386 +5,070 102 8 66 5 8 151 120 + + +3,677 43 - 183 - 41 - 157 + 16 +3 ,268 2,701 826 69,808 10,332 400 7,360 87,900 57,306 507 1,224 195 646 2,197 62,075 Member bank reserves: 25,348 625 +1 ,802 25,825 With Federal Reserve Banks 5,037 344 + 488 5,037 Currency and coin 30,385 + 281 +2,290 30,862 Total reserves held 30,270 + 408 +2,389 30,270 Required reserves 115 127 99 592 Excess reserves NOTE: A net of $142 million of surplus reserves were eligible to be carried forward from the week ended May 12, into the week ending May 19. On May 19, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $18,905 million, an increase of $391 million for the week. \J Includes $98 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday May 20, May 12, May 19, 1970 1971 1971 A S S E T S Gold certificate account 10,075 970 Special Drawing Rights certif, accts. 400 Cash 270 (907) + 6 70 + Discounts and advances 985 + 960 + 450 Acceptances: Bought outright + 1 + 59 9 Held under repurchase agreements + 89 89 + 89 Federal Agency obligations-Held under repurchase agreements 97 97 97 U. S. Government securities : Bought outright-Bills 27,011 + 490 +4,642 Certificates Notes 34,299 +2,134 + 119 3,220 Bonds + 384 1/ 64,530 Total bought outright + 609 +7,160 Held under repurchase agreements 521 + 257 + „„531 65,051 Total U. S. Government securities +7,681 + 666 Total loans anci securities +2 ,013 66,281 +8,326 Cash items in process of collection + 761 (2,996) 11,159 + 632 Bank premises + 22 140 1 + Other assets 2/ - 499 564 686 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS +2. .153 (3,903) 89,011 +7,. 645 H.4.1(a) Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign (907) Other J/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (2,996) (3,903) 50,466 73 +3,405 25,825 1,224 195 646 27,890 8,458 559 87,373 +1,837 + 112 +2,866 + 482 + 54 - 167 +3,235 + 961 jz 3£ +7,566 +1,942 + 236 + 27 +2,132 £ £ £ I 1 £ L A C C O U N T S Capital"~paid in 723 1 + Surplus 702 + Other capital accounts 213 + 20 + Contingent liability on acceptances purchased for foreign correspondents 243 * Figures in parentheses are the eliminations made in the consolidating proce ss. 1/ Includes $98 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. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MAY 19. 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 Holdings advances Acceptances Weekly changes Within 15 days 984 101 4,509 -1,184 16 days to 90 days 1 47 12,333 + 180 91 days to 1 year 17,893 +2,312 Over 1 year to 5 years 23,641 95 Over 5 years to 10 years 5,892 - 250 Over 10 years -_ 880 Total 985 148 65,148 + 963 39 33 7 14 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Philadelphia Cleveland Richmond MAY 19, 1971 St. Louis Atlanta Chicago Minneapolis Kansas City Dallas San Francisco (In millions of dollars) A S S E T S 634 23 1,167 881 33 70 543 15 177 7 393 15 444 14 1,743 36 436 22 1,976 93 633 23 1,048 400 F. R. notes of other banks Other cash 907 270 103 12 229 24 43 10 40 28 65 27 254 33 24 34 19 16 12 8 28 26 25 18 65 34 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 D. S. Government securities Total loans and securities 985 10 711 4 12 56 21 122 2 * 10 — 37 59 89 --- 59 89 -__ --- -__ — -- --- -— -— --- — -- — — - -- --- Gold certificate account Special Drawing Rights certif. acct. Cash items in process of collection Bank premises Other assets Zl TOTAL ASSETS 1/ 2/ 10,075 — — 97 97 -- 27,011 1,320 6,866 1 ,395 2,068 2,004 1,356 4,407 979 539 1,029 1,257 3,791 34,299 3,220 1/ 64,530 1,675 8,718 2,545 1,723 5,596 4,814 239 162 525 685 64 1,596 247 1 ,243 117 1,306 818 1 ,771 166 2,627 157 123 150 452 3,152 — 3,152 3,162 16,402 ,332 -,332 3 ,336 4,942 -4,942 4,954 4,788 -4,788 4,844 3,241 -3,241 3,262 10,528 — 10,528 10,650 ,339 -,339 2.,341 1,288 — 1,288 1,288 2,458 .. 2,458 2,468 3,003 — 3,003 3,003 9,057 — 9,057 9,094 523 15 10 915 18 18 873 9 24 1,230 2,040 3,881 4,410 12,288 521 65,051 66,281 ""T 16,923 T 17,879 521 T T 2,389 1,129 1,360 2,405 8 280 747 3 31 1,073 17 38 13 35 17 54 17 686 794 2 38 76 717 13 17 92,914 4,768 22,069 4.,826 7,064 7,197 5,438 15,252 3.,681 14,155 140 - Includes $98 million securities loaned—fully secured by U.S 0 Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies and IMF gold deposited. * Less than $500,000. 49 8 65 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 19,1971 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 51,373 25,825 1,224 , 195 646 27,890 11,454 New York Phila- CleveRich- Atlanta Chicago delphia land mond (In millions of dollars) St. Louis Minneapolis Kansas City San Dallas Francisco 2,882 12,264 2,995 4,162 4,555 2,518 9,002 1,979 893 1,913 1,983 6,227 980 6,640 1,020 1,717 1,384 1,586 3,835 82 9 3 84 15 1 187 9 10 65 11 2 64 26 5 1,526 105 9 3_ 1,114 1,817 1,590 898 927 1,664 1,095 3,930 1,988 1,050 609 579 608 47 4 2 661 438 4,555 149 902 140 6 2 1,072 80 1,643 671 4,760 1,015 8 1/ 70 * 1,068 717 2/ 592 7,451 1,779 61 7 2 1,142 738 160 21 24 559 27 155 26 43 39 27 88 20 4,694 21,649 4,744 6,920 7,111 5,304 15,008 19 3,627 12 91,276 2,004 '3,813 25 4,322 12,080 723 702 213 33 33 8 188 185 47 37 36 9 66 63 15 38 36 12 49 47 38 108 105 31 24 24 6 17 16 3 31 30 7 40 39 9 92 88 28 92,914 4.768 22.069 4.826 7.064 . 7.197 5.438 15.252 3.681 2.040 3.ool 4.410 12.288 12 22 16 37 8 6 10 14 31 9,261 2,079 927 2,002 2,129 6,492 1,000 155 243 ii 3/ 64 12^_ 78 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 1/ 2/ 37 3,039 12,951 3,082 4,332 4,682 250 500 300 510 530 2,840 12,600 2.900 3.900 4,250 2.900 8.450 lf98Q -2£Q 2.Q25 ,2, ifiQ 7,QQ0 4,410 4,780 2,900 9,450 2,135 950 2,025 2,185 7,000 3,090 13,100 3,200 After deducting $125 million participations of other Federal Reserve Banks. Includes IMF gold deposit. After deducting $179 million participations of other Federal Reserve Banks. 2,732 — * 5 Less than $500,000.
@FedFRASER