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FEDERAL RESERVE '••f*u5s^ Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 6, 1971 The average of daily figures of total reserves of member banks increased $602 million in the latest statement week to $30,798 million. Required reserves and excess reserves both increased while member bank borrowings at Federal Reserve Banks were about unchanged from the level of the previous week. A rise in the amount of currency in circulation and a more than seasonal decline in float were the major factors absorbing reserves in the latest statement week. Offsetting some of these reserve drains was a decline in the Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations supplied $773 million in reserves (net) on a weekly average basis through repurchase agreements and outright purchases of Treasury bills. Member bank borrowings averaged $175 million and were $202 million less than excess reserves. In the previous week borrowings exceeded excess reserves by $95 million. 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: Averages of daily figures Week ended Change from week ended Wednesday, May 5, April 28, May 6, May 5, 1971 1970 1971 1971 (IrL millions of: dollars) 63,808 + 384 379 + 328 +6,894 + 177 1/ 64,043 1,136 51 + 50 11 137 55 32 + + 2 9 2 3 58 81 175 2 -- 2,761 1,186 68,447 10,732 503 + 34 + 303 - 599 90 - 319 -1,042 +5,004 - 635 802 -- --- 400 7,326 86,905 56,715 + 519 + + + 1,035 - 154 714 + + + 2,262 61,398 25,506 5,292 30,798 30,421 377 - + + + + + 17 320 105 13 303 14 10 96 65 383 219 602 307 295 -- 2,749 1,216 70,222 10,732 -- 400 + 377 +4,747 +3,604 7,331 88,685 57,008 38 519 493 148 685 - 478 38 - 140 + 19 +2,928 +1,818 + 393 +2,211 +2,184 + 27 2,313 61,166 27,519 5,292 32,811 30,421 '2,390 A net of $1 million of deficit reserves were eligible to be carried forward from the week ended April 28, into the week ending May 5. On May 5, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $17,405 million, an increase of $325 million for the week. If Includes $70 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 May 5, April 28, May 6, 1971 . 1970 1971 A S S E T S — 10, 475 Gold certificate account 570 Special Drawing Rights certif. accts. --400 Cash ( 937) + 261 + 8 65 Discounts and advances 802 + 86 + 270 Acceptances: Bought outright + 58 5 + Held under repurchase agreements 81 46 25 Federal Agency obligations-j . Held under repurchase agreements 137 129 5 U. S. Government securities : Bought outright-Bills 26,643 4,041 384 Certificates Notes — 34,180 2,107 + Bonds — + 3,220 405 Total bought outright + 6,553 + 384 1/ 64J043 Held under repurchase agreements + + 901 783 1,136 Total U. S. Government securities ~ +"~ 7,454 1,16? 65,179 Total loans and securities 7,754 1,433 + + 66,257 Cash items in process of collection (2,828) 411 + 447 10,870 Bank premises — + 19 136 Other assets 2j 893 + 19 1,080 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,765) 89,479 6,822 + 1,049 + h I A £ It I I I £ 1 Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Jj/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL ( ( 937) 50,200 124) 27,519 493 148 685 28,845 8,121 570 87,736 (2,704) (3,765) 3,262 293 1,754 908 + 15 2 + S6l~ T~ 225 + 60 +~" + + - ~ + —wr ~ —~ — + + ACCOUNTS Capital paid in Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents 721 702 320 + 58 - 39 33 26 237 + 2 + 27 * Figures in parenthese are the eliminations made in the consolidating process. 1/ Includes $70 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, MAY 5. 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 advances 800 2 Within 15 days 16 days to 90 days 91 days to 1 year '8 Over 1 year to 5 years Over 5 years to 10 years ars Over 10 years Total 3,806 830 20 184 2,772 772 30 6,776 —- Acceptances 95 44 -- -— — — 802 139 Federal Agency obligations Holdings Week!.y changes 6,712 + 2,163 12,097 1,360 15,749 + 493 -23,736 -6,142 -880 65,316 + 1,296 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON ASSETS 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 outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 1/ 2/ MAY 5, 1971 Kansas City 382 15 166 7 421 15 412 14 1,688 49 23 33 16 15 12 6 30 26 20 17 68 34 51 84 4 1 3 * 17 --- --- --- --- — -- --- --- -- — -- Dallas Boston 10,475 400 580 23 1,976 93 586 23 752 33 948 36 522 22 2,042 70 937 | 111 11 237 25 35 9 50 28 61 23 274 34 802 122 373 2 131 14 -- 58 81 --- --- — -- __ 137 -- — 26,643 1,301 6,773 1,376 2,040 1,976 1,338 4,347 966 532 1,015 1,240 -- -- -- -- -- -- -- -- • -- -- -- !l,670 8,688 157 818 3,128 !L6,279 -1,136 3,128 :L7,415 3,250 ]L8,064 1,765 166 3,307 2,617 247 4,904 2,536 239 4,751 1,717 162 3,217 5,577 525 10,449 1,239 117 2,322 682 64 1,278 1,302 123 2,440 1,590 150 2,980 4,797 '452 8,988 -- -- -- -- -- -- -- -- __ 3,307 3,309 4,904 5,035 4,751 4,765 3,217 3,268 10,449 10,533 2,322 2,326 1,278 1,279 2,440 2,443 2,980 2,980 8,988 9,005 779 2 59 2,504 8 383 734 3 58 981 16 68 998 11 74 1,277 17 45 2,214 17 142 718 13 32 493 14 19 877 18 34 834 9 41 1,289 8 125 93,244 4,815 23,290 4,757 6,963 6,916 5,459 15,074 3,517 1,996 3,864 4,327 12,266 t \ 261 ' 58 i 81 137 -- 34,180 3.220 ]J 64,043 1,136 65,179 66,257 13,698 136 1,080 -- -- Includes $70 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. * Less than $500,000. San Francisco Minneapolis New PhilaCleve- Rich- Atlanta Chicago St. Louis York delphia land mond (In millions of dollars) Total 3,739 — H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Phila- Clevedelphia land Richmond Atlanta MAY 5, 1971 Chicago Minneapolis St. Louis Kansas City San Dallas Francisco (In millions of dollars) Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accriled 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 51,137 2,873 12,210 2,958 4,142 4,571 2,520 8,951 1,969 886 1,902 1,966 6,189 27,519 493 148 809 28,969 10,825 1,102 7,870 8 51 6 1/ 49 l :11 756 8,726 1,117 717 1,740 1,046 43 7 2 1,098 585 1,783 12 12 1,807 818 1,314 76 7 12 1,409 800 1,694 41 9 2 1,746 1,054 3,882 70 20 6 3,978 1,783 869 28 5 1 903 567 620 10 3 3 636 424 1,104 42 6 2 1,154 716 1,591 21 7 3 1,622 620 4,644 91 17 21 4,773 1,001 570 91,501 27 4,734 158 22,834 26 4,667 42 6,809 40 6,820 28 5,348 96 14,808 19 3,458 12 1,958 19 3,791 25 4,233 78 12,041 721 702 320 33 33 15 188 185 8T 37 36 17 66 63 2S 37 36 21 49 47 is 108 105 24 24 16 16 31 30 1' 40 39 is 92 88 45 93,244 4.815 23.290 4.757 6.963 6.916 5.459 15.074 3,517 1,996 3,864 4,327 12,266 237 11 3/ 62 12 21 12 16 36 8 .6 10 13 30 9,205 2,048 919 1,980 2,096 6,434 1,000 155 -- 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/ 3/ 3,029 12,907 3,041 4,293 4,703 250 500 300 510 530 2,840 12,600 2.900 3.900 4.250 2.900 8 r 450 1,980 230 2f02S ?,iftn 7.000 3,090 13,100 3,200 4,410 4,780 2,900 9,450 2,135 930 2,025 2,185 7,000 After deducting $ 99 million participations of other Federal Reserve Banks, Includes IMF gold deposit, After deducting $175 million participations of other Federal Reserve Banks. 2,741 — * — Less than $500,000. 5
@FedFRASER