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FEDERAL f^URE**. RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 7, 1970. The average of daily figures of total reserves of member banks increased $580 million in the latest statement week to $28,582 million. Required and excess reserves increased while member bank borrowings declined. The major factors absorbing reserve s in the latest statement week were currency in circulation, Treasury d eposits with Federal Reserve Banks, and other Federal Reserve liabilities and capital. Together these factors absorbed over $550 million of reserve s. System Open Market operations supplied nearly $1.2 billion of reserves, on a weekly average basis, both through outright purchases of U.S. Government securities and through repurchase agreements. Member bank borrowings were well below the average of recent weeks and exceeded excess reserves by $445 million, compared to the revised figure of $917 million for the pr evious week. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securities— Bought outright--Systera 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/ Averages iDf daily figures Week ended Change from week ended Wednesday, May 6, May 6, April 29, May 7, 1969 1970 1970 1970 ollars) (Int millions oi: d 56,914 202 +1,154 36 44,324 - 329 1/57,490 235 62 43 11 132 5 35 58 56 - 830 490 441 90 3,019 2,090 63,611 11,367 400 6,952 82,330 53,463 552 1,323 168 869 2,297 5oV572- 57 35 773 90 3,077 2,228 63,439 11,367 400 6,949 82,154 53,111 557 1,513 192 854 2,243 58!470 23,684 4,898 28,582 28,254 328 - + 2 8 120 -- 4- 58 39 950 --- 418 4- 967 4- 294 2 4- 129 34 9 + 133 + "379" 4- 389 + 191 + 580 4- 228 + 352 + - 4- + 854 668 +3,424 +1,000 + 400 4- 220 +5,043 +3,465 - 152 4- 922 433 4- 396 + 241 44"79U5" 4- 138 4- 234 4- 372 4- 527 " 155 - J 23,657 4,898 28,555 28,254 301 A net of $75 million of surplus reserves were eligible to be carried forward from the week ended April 29, into the week ending May 6. Includes $56 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. On May 6, 1970, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,252 million, a decrease of $88 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change Wednesday May 6, April 29, 1970 1970 A S S E T S Gold certificate account 11,045 Special Drawing Rights certif. accts. 400 * Cash 196 (622) Discounts and advances 531 393 Acceptances: Bought outright 58 Held under repurchase agreements + 56 56 Federal Agency obligations— Held under repurchase agreements 132 + 132 U. S. Government securities : Bought outright— Bills 22,602 +1,405 Certificates Notes — 32,073 Bonds -2,815 Total bought outright 1/ 57,490 +1,405 Held under repurchase agreements + 235 235 Total U. S. Government securities +1,640 57,225 Total loans and securities +1,435 58,502 Cash items in process of collection + 70 10,368 (2,247) Bank premises — 117 Other assets 2/ 1,973 - 161 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,869) 82,601 +1,344 k 1 A 1 Ik 11 Ik jS 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 TOTkl LIABILITIES £ A £ I T A L ACCOUNTS C a p i t a l paid in Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents (622) since May 7, 1969 +1,022 + 400 9 408 6 12 + + 132 +4,419 +2,027 -1,572 +4,874 + 69 +4,943 +4,685 +1,576 + 3 - 753 +6,924 46,938 + 410 +3,194 23,657 1,323 +1,079 44 56 — + 979 - 204 + 92 +1,277 +1,500 + 919 168 (2,247) 869 26,017 7,349 (2,869) 80,904 600 682 669 346 210 67 + + + + + 16 * Figures in parentheses are the eliminations made in the consolidating process, JL/ Includes $56 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 6. 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 Discounts and Federal Agency o b l i g a t i o n s advances Acceptances Week!l y changes Holdings cnai Within 15 days 435 71 14,904 TT7W 16 days to 90 days 43 94 9,865 -11,015 91 days to 1 year 2 11,547 + 1,245 Over 1 year to 5 years 13,976 Over 5 years to 10 years 6,953 Over 10 years 612 Total 114 + 1,772 531 57,857 7 + 427 +2,853 + 597 + 173 +6,817 30 39 38 78 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 6, 1970 Boston Total Phila- Cleve- RichNew Atlanta Chicago mond York delphia land St. Louis Minneapolis Kansas City Dallas San Francisco (In mil1ions of dollars) ASSETS Gold certificate account Special Drawing Rights certif. acct. 11,045 400 488 23 2,517 93 694 23 1,005 33 1,009 36 552 22 2,163 70 408 15 247 7 443 15 287 14 1,232 49 F. R. notes of other banks Other cash 622 196 64 9 165 26 20 7 50 22 42 11 96 27 18 25 16 12 11 7 31 12 22 12 87 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 531 132 93 5 22 102 12 48 10 13 46 10 38 — — 58 56 -— --- --- --- -— — -- -- — -- -- -- -- --- Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 1/ "2/ 58 56 22,602 1,130 __ ! 32,073 2,815 \/ 57,490 "~ 235 57,725 58,502 -- 132 132 5,708 — 1,147 — 1,628 143 2,918 1,736 — 2,463 216 4,415 1,674 — 2,375 208 4,257 _. 1,220 3,699 797 433 833 984 -- -- -- — — — 1,731 152 3,103 5,248 461 9,408 1,130 99 2,026 615 54 1,102 1,183 104 2,120 -- 4,600 404 8,245 1,604 8,099 711 141 2,875 14,518 -235 2,875 14,753 3,007 15,092 -- -- _- -- -- 2,918 2,923 4,415 4,437 4,257 4,359 3,103 3,115 9,408 9,456 2,026 2,036 1,102 1,115 2,120 2,166 2 ,503 2 ,513 8,245 8,283 2,310 9 661 738 2 96 876 8 145 913 11 111 1,181 17 104 2,015 17 269 613 10 60 472 6 36 883 18 69 719 8 87 1,067 9 236 85,470 1 4,520 20,873 4,503 6,576 6,492 5,114 14,033 3,170 1,901 3,637 3 ,662 10,989 12,615 117 1,973 : 828 2 99 — — — -- — Includes $56 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. 1 ,397 122 2 ,503 3,241 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 6, 1970 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis Kansas City San Dallas Francisco (In millions of dollars) LIABI.L.IT.I.ES. 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 acceptances purchased for foreign correspondents 47,560 2,738 11,152 23,657 1,323 918 46 8 2 974 699 6,551 168 869 26,017 9,596 339 1/ 50 2/785 7,725 1,379 4,257 2,538 8,347 1,810 831 1,779 1,728 5,831 990 1,649 1,175 92 141 95 8 14 8 5 6 13 1,371 3,627 3,829 93 7 5 96 9 2 121 21 19 3,764 1,572 593 48 4 2 647 374 1,180 94 24 19 745 57 1,029 101 10 7 1,134 1,287 3,990 633 532 861 2,685 3,864 1,098 1,761 1,337 1,489 606 758 761 950 b 4 811 471 600 29 164 28 44 43 31 94 20 12 22 25 88 83,773 4,440 20,420 4,417 6,427 6,398 5,008 13,777 3,112 1,864 3,568 3,572 10,770 682 669 346 32 32 16 182 177 94 34 34 18 61 60 28 35 34 25 45 43 18 101 99 56 23 23 12 15 15 7 29 28 12 38 37 15 87 87 45 85,470 4,520 20,873 4,503 6,576 6,492 5,114 14,033 3,170 1,901 3,637 3,662 10,989 210 10 3/ 55 11 19 11 14 31 7 4 9 12 27 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral \J 2/ 3/ 49,350 2,830 11,644 2,749 4,011 4,362 2,695 8,581 1,882 855 1,826 1,833 6,082 3,327 250 500 300 510 580 -- 1,000 155 27 -- 5 -- 47,910 2,600 11,400 2,620 3,750 3,860 2,800 7,950 1,780 845 1.875 1,930 6.500 51,237 2,850 11,900 2,920 4,260 4,440 2,800 8,950 1,935 872 1,875 1,935 6,500 After deducting $118 million participations of other Federal Reserve Banks, Includes IMF gold deposit. After deducting $155 million participations of other Federal Reserve Banks, _
@FedFRASER