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2=^,;-. "••fgflPf- FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H > 4.1 For immediate release November 11, 1971 The average of daily figures for total reserves of member banks declined $358 million in the latest statement week to $30,616 million. Required reserves increased while excess reserves and member banks borrowings at the. Federal Reserve Banks declined. A reduction in Treasury deposits with Federal Reserve Banks was the major factor supplying reserves in the latest statement week. A seasonal increase in currency in circulation and a decline in float more than offset this supply of reserves. In addition, System Open Market operations drained $68 million reserves net, on a weekly average basis. Member bank borrowings averaged $122 million and exceeded excess reserves by $103 million. In the previous week they were $198 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-Bought outright Held under repurchase agreements AcceptancesBought outright Held under repurchase agreements Discounts and advancesMember bank borrowings Other Float Other F.R. assets Total Reserve Bank credit Gojd 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, Nov, 10, Nov. 3, Nov. 11, Nov. 10, 1971 * 1971 1970 1971 * (Irl mill.ions of dollars) 67,024 141 + 131 11 53 19 f JL. 156 40 f7,590 - 247 1/2/66,765 — 35 2 + 131 46 179 -- 1 14 F 17 20 57 — 122 93 323 196 3,134 1,240 71,876 10,132 400 7,557 89,965 59,594 479 1,598 119 710 - 1.66 -f 33 - 293 — -7 - 300 JL 278 12 - 197 15 16 + 67 + 105 + 12 - 402 +6,713 - 985 «+ 460 +6,189 +3,942 + 31 + 610 51 48 + 43 +4,526 2,884 1,291 71,372 10,132 400 7,567 89,471 59,934 473 1,411 137 714 2,442 65,111 J^lll 64,922 Member bank reserves:; - 406 25,043 +1,662 With Federal Reserve Banks 24,360 5,573 + 48 Currency and coin + 229 5,573 - 358 30,616 Total reserves held +1,891 29,933 430,597 36 Required reserves +2,154 30,597 - 394 19 Excess reserves - 263 - 664 NOTE: A net of $222 million of surplus reserves were eligible to be carried forward from the week ended November 3, into the week ending November 10. On November 10, 1971, marketable U.S- Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $23,417 million, an increase of $475 million for the week, 1/ Excludes $375 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2J Includes $18 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. v Estimated (Dallas District). H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Nov. 10, 1971 ** A S S E T S Gold certificate account Special Drawing Rights certif. accts. Cash Discounts and advances Acceptances—Bought outright Held under repurchase agreements Federal Agency obligations—Bought outright 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 3/ TOTAL ASSETS" Federal Reserve notes Deposits: Member bank—reserves account U. S. Treasurer—general account Foreign Other 4/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES Change since Nov. 3, Nov. 11, 1971 1970 „ 9,875 * (730) 1/ 2/ 400 268 196 57 - + — - 179 + -- - 14 56 6 40 83 94 -- + + 49 357 21 + 179 --- 28,783 365 +5,487 34,719 3,263 66,765 — — +1,961 + 531 +7,979 — - 365 - 706 -1,071 -1,172 - 899 (2,824) 66,765 67,197 10,865 148 1 (3,554) 1,143 89,896 + 51 -2,035 52,851 24,280 1,411 + 340 -1,118 - 276 + 13 (730) - 952 -- 137 714 26 -- +7,979 +7,822 + 861 + 21 - 400 +7,401 +3,539 +3,027 99 4 .-.., . 36 +2,888 + 924 (2,824) 26,542 8,061 591 23 9 (3,554) 88,045 -2,097 +7,342 C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts 735 702 414 -- Contingent liability on acceptances purchased for foreign correspondents 257 -1,407 -1,007 1 f + + 45 33 63 19 5 4-11 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $375 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $18 million securities loaned--fully secured by U. S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies and IMF gold deposited. 4/ Includes IMF gold deposit. ** Estimated (Dallas District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, November 10. 1971 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Federal Agency Accept U. S. Government Discounts obligations securities -ances and Holdings Weekly Holdings Weekly Advances Changes changes Within 15 days 196 -- 94 -2,306 6,132 30 16 days to 90 days 15,202 27 +1,134 1 + 1 91 days to 1 year — + 101 15,779 74 + 23 _. Over 1 year to 5 years — 23,325 68 + 48 Over 5 years to 10 years — — 5,411 22 + 4 Over 10 years -— -916 14 +_ 7 Total 196 57 66,765 -1,071 179 11 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Phila- Clevedelphia land Richmond Atlanta November 10, 1971 Chicago Minneapolis St. Louis ** San Dallas Francisco Kansas City (In millions of dollars) 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 accept" ances purchased for foreign correspondents 53,581 2,876 13.084 3,124 4,381 4,715 24,280 1,411 137 714 26,542 10,885 1,085 121 6 1 1,213 709 6,519 303 1/ 45 2/ 657 7,524 1,321 916 95 6 3 1,020 592 1,743 117 11 1 1,872 795 1,108 122 7 13 1,250 819 591 91,599 29 4,827 148 22,077 31 4,767 46 7,094 735 702 414 33 33 18 192 185 107 38 36 22 93,450 4,911 22,561 257 12 3/ 68 4,863 13 9,347 2,050 893 2,002 2,083 6,383 1,600 96 8 3 1,707 1,210 3,345 111 19 5 3,480 1,828 881 111 4 1 997 645 589 40 3 1 633 469 1,127 1,277 74 53 5 7 2 2 1,208 1,339 722 744 4,090 168 16 25 4,299 1,031 42 6,826 31 5,591 95 14,750 23 3,715 15 2,010 28 23 3,955 4,194 80 11,793 67 63 33 38 36 31 50 47 21 109 105 68 25 24 15 17 16 7 41 39 17 94 88 59 7,257 6,931 5,709 15,032 3,779 2,050 4,032 4,291 12,034 23 13 17 39 9 6 31 30 16 11 14 32 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R-. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 55,614 3,024 13,504 3,182 4,510 4,828 3,145 200 500 300 500 485 53,680 2,920 13,200 3,000 4,100 4,415 56,825 3,120 13,700 3,300 4,900 4,600 1/ After deducting $ 92 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. 3/ After deducting $189 million participations of other Federal Reserve Banks. ** Estimated. 2,826 2,900 2,900 9,603 2,130 928 2,075 2,215 6,789 1,000 155 — — 5 8,750 9,750 2,030 2,185 960 2,125 2,280 7,000 960 2,125 2,285 7,000 H.4.Ub) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 10, 1971 Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago 0.n millions A S S E T S St. Louis Minneapc lis Kansas City Dallas San Francisco of dollars) 9,875 400 666 23 2,476 93 482 23 1,013 33 817 36 545 22 1,657 70 264 15 33 7 350 15 114 14 1,458 49 F.R. notes of other banks Other cash 730 268 114 9 131 24 35 10 36 25 53 36 144 36 26 29 15 17 26 5 34 25 30 17 86 35 Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligationsBought outright Held under repurchase agreements U.S. Government securities: Bought outright-Bills Certificates: Other 196 * 154 -- -- 13 2 11 * 2 10 4 -- 57 — -- -- -- -- — -- Gold certificate account Special Drawing Rights certif. acct. Notes Bonds Total bought outright JL/2/ Held under repurchase agreements Total U.S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 3/ TOTAL ASSETS 1/ 2/ 3/ "* 57 179 " 9 -- 46 -- 9 — 14 -- 13 — 9 -- 29 -- 7 — 4 — 7 — 8 -- 24 -- 28,783 -- 1,380 -- 7,358 -- 1,502 -- 2,210 -- 2,108 -- 1,488 -- 4,666 -- 1,133 -- 557 -- 1,143 -- 1 ,345 .. 3,893 -- 34,719 3,263 66,765 67,197 1,665 157 3,202 -3,202 3,211 8,875 834 17,067 — 17,067 17,324 1,811 170 3,483 -3,483 3,492 2,666 251 5,127 -5,127 5,141 2,543 239 4,890 — 4,890 4,916 1,795 169 3,452 -3,452 3,463 5,628 529 10,823 -10,823 10,863 1,366 128 2,627 -2,627 2,634 673 63 ,293 — ,293 T 1 ,299 1,379 130 2,652 -2,652 2,669 1 ,622 152 3",119 -3",119 3,,131 4,696 441 9,030 -9,030 9,054 13,689 148 1,143 818 2 68 2,116 8 389 753 3 65 916 23 70 989 13 71 1,435 16 48 2,222 17 148 784 14 36 641 18 21 884 17 38 930 9 46 1,201 8 143 93,450 4,911 22,561 4,863 7,257 6,931 5,709 15,032 3,779 2 ,050 4,032 4,,291 -- 1 66,765 Exculdes $375 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $18 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. **Estimated. r 12,034
@FedFRASER