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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release November 4, 1971 The average of daily figures for total reserves of member banks increased in the latest statement week to $550 million. Required reserves and excess reserves increased while member bank borrowings at the Federal Reserve Banks declined. An increase in currency in circulation was the major factor absorbing reserves in the latest statement week. Float, which normally declines at this time of month, rose contraseasonally by $203 million. Also providing a significant amount of reserves was a decline in Treasury deposits with Federal Reserve Banks. System Open Market operations supplied $57 million of reserves net, on a weekly average basis, primarily through repurchase agreements at the end of the week. Member bank borrowings were $198 million less than excess reserves. In the previous week they exceeded excess reserves by $370 million. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U.S. Government securitiesBought outright--System account Held under repurchase agreements Federal Agency obligations-Bought outright 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 ojE daily figures Week ended Change from week ended Wednesday, Nov. 3, Oct. 27, Nov. 3, Nov. 4, 1971 1970 1971 1971 l mi' Llions of dollars) (Ir 67,180 101 + + 96 13 19 29 +7,652 - 268 -- 8 + - 96 50 96 94 1 + 16 1/ 67,130 706 52 5 -- 23 51 40 215 • 199 - 208 252 3,300 1.2Q7 72,169 10,132 + 203 ±__ A I + 109 + 660 - 426 +7,449 - 985 -+ 467 +6,931 +4,171 + 27 + 754 2,712 1.241 72,322 10,132 — -- 400 7,564 90,265 59,316 491 1,795 134 726 2,355 64,817 25,449 5,525 30,974 30,561 413 + 4 + 112 + 142 + 35 - 388 22 + 15 + 74 - 145 + + + + + 258 292 550 181 369 400 7,570 90,424 59,564 493 1,687 35 24 124 740 + 63 +4,956 2,403 65,011 +1,978 + 344 +2,322 +2,227 + 95 25,414 5,525 30,939 30,561 378 A net of $40 million of surplus reserves were eligible to be carried forward from the week ended October 27, into the week ending November 3. On November 3, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $22,942 million, an increase of $264 million for the week. 1/ Includes $30 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 Oct. 27, Nov. 4, Nov. 3, 1970 1971 1971 ASSETS Gold certificate account — 9,875 952 Special Drawing Rights certif. accts. * — -400 Cash ( 805) 282 + - 24 59 Discounts and advances 252 -1,791 332 Acceptances--Bought outright -51 + 15 Held under repurchase agreements 40 + 5 12 + — Federal Agency obligations—Bought outright 96 + 96 Held under repurchase agreements 94 + 62 + 43 U. S. Government securities: Bought outright—Bills 29,148 126 + 5,110 Certificates Notes — 34,719 + 1,961 Bonds — 3,263 + 531 Total bought outright 1/ 67;i30 + 7,602 - 126 Held under repurchase agreements 706 + 204 + 375 Total U.S. Government securities 67,836 + 7,977 + 78 Total loans and securities 68,369 -1,646 + 7,811 Cash items in process of collection (3,205) 11,700 + 500 + 664 Bank premises 149 1 + 24 Other assets 2/ 1,092 + 41 396 TOTAL ASSETS (4,010) 91,867 -1,130 +_ 7,210 H.4.1(a) E S Federal Reserve notes Deposits: Member bank—reserves account U. S. Treasurer--general account Foreign Other 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts ( 805) (3,205) (4,010) 52,511 25,334 1,687 124 740 27,885 9,068 614 90,078 736 702 351 + 159 -1,859 22 - 32 + 52 -1,861 + 474 + 31 -1,197 + 3,784 + 2,275 + 493 39 + 2 + 2,731 + 619 + 11 + 7,145 + -- + + 66 - + 1 46 33 14 Contingent liability on acceptances 23 purchased for foreign correspondents 262 + 4 + * Figures in parentheses are the eliminations made in the consolidating process. J7 Includes $30 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, November 3, 1971 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts Accept U. S. Government Federal Agency •ances securities and obligations Advances Holdings Weekly Holdings Weekly Changes changes 67 8,438 +3,383 Within 15 days 249 94 62 24 14,068 -3,161 16 days to 90 days 3 — 15,678 - 144 91 days to 1 year 51 — — 23,325 Over 1 year to 5 years 20 — -Over 5 years to 10 years 5,411 18 — Over 10 years — 916 — 7 Total 252 91 67,836 + 78 62 190 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON H.4.Ub) Total Boston New York Philadelphia Cleveland Richmond Atlanta NOVEMBER 3, 1971 Chicago 0!n millions ASSETS St. Louis Minneapolis Kansas City Dallas San Francisco of dollars) 9,875 400 315 23 2,303 93 707 23 603 33 871 36 380 22 1,947 70 229 15 180 7 320 15 288 14 1,732 49 F.R. notes of other banks Other cash 805 282 121 9 121 27 41 9 47 25 66 38 158 38 37 32 21 18 27 6 35 25 34 17 97 38 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 252 3 57 -- 2 15 11 146 -- i 13 /; -- 51 40 -— 51 40 --- --- — — -— --- --- --- -— --- --- 96 94 5 -- 24 94 5 -- 1 * 5 -- 16 -- 4 -- 2 -- 4 4 13 — 29,148 "~ 1,398 -- 7,451 -- 1,521 -- 2,238 -- 2,134 -- 1,507 -- 4,726 -- 1,147 -- 564 -- 1,158 -- 1,362 -- 3,942 -- Notes Bonds Total bought outright Held under repurchase agreements Total U.S. Government securities Total loans and securities 34,719 3,263 67,130 706 67,836 | 68,369 1,665 157 3,220 _3,220 3,228 8,875 834 17,160 706 17,866 18,132 1,811 170 3,502 -3,502 3,507 2,666 251 5,155 -5,155 5,164 2,543 239 4,916 -4,916 4,938 1,795 169 3,471 -3,471 3,487 5,628 529 10,883 -10,883 11,045 1,366 128 2,641 -2,641 2,645 673 63 1,300 -1,300 1,303 1,379 130 2,667 -2,667 2,684 1,622 152 3,136 -3,136 3,144 4,696 441 9,079 -9,079 9,092 14,905 149 1,092 | 937 2 65 2,239 8 380 782 60 1,097 22 69 1,103 13 66 1,510 16 47 2,449 17 138 834 14 34 724 20 22 915 17 36 893 9 42 95,877 | 4,700 23,303 5,132 7,060 7,131 5,658 15,735 3,810 2,289 4,047 4,441 Gold certificate account Special Drawing Rights certif. acct. Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS 1/ 2/ 1/ Includes $30 million securities loaned—fully by U.S. Includes assets denominated in foreign currencies and IMF gold deposited. 1 /. oo 8 133 12,571 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON New Total Boston York Phila- Clevedelphia land Richmond November 3, 1971 St. Atlanta Chicago Louis Minneapolis Kansas City San Dallas Francisco (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 ace:eptances purchased for forei-gn correspondents 53,316 25,334 1,687 124 740 27,885 12,273 2,865 13,045 3,083 4,355 4,709 2,606 9,299 2,033 888 1,988 2,077 6,368 822 6,635 111 257 5 1/ 43 * 2/ 682 938 7,617 786 2,011 1,008 1,512 1,277 1,546 3,919 4,575 94 6 16 104 7 2 217 16 4 119 5 2 129 6 2 160 14 19 1,103 1,623 1,393 823 877 886 1,659 1,247 4,156 1,913 640 172 2 1 815 528 1,432 101 10 -- 875 143 4 3 1,093 80 6 9 1,025 668 1,219 1,569 742 671 4,768 1,121 614 29 163 30 46 43 31 96 23 19 24 ?R 94,088 4,618 22,836 5,039 6,901 7,031 5,543 15,464 3,749 2,250 3,973 4,345 12,339 736 702 351 34 33 15 192 185 90 38 36 19 67 63 29 38 36 26 50 47 18 109 105 57 25 24 12 17 16 6 31 30 13 41 39 16 94 88 50 95,877 4,700 23,303 5,132 7,060 7,131 5,658 15,735 3,810 2,289 4,047 4,441 12.571 262 12 13 24 13 18 39 9 6 11 15 922 2,058 2,226 3/ 69 ft? 12__ FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 1/ 7/ 3/ 3,038 13,426 3,140 4,517 4,835 200 500 300 500 485 2,920 3,120 13,200 13,700 3,000 3,300 4,100 4,600 4,415 4,900 After deducting $81 million participations of other Federal Reserve Banks. Includes IMF gold deposit. After deducting $ 193 million participations of other Federal Reserve Banks. 2,797 2,900 2,900 9,575 2,121 1,000 155 8,750 9,750 2.030 2,185 * 6,799 5 960 960 2.125 2,125 Less than $500,000. 2f280 2,285 7.QQQ 7,000
@FedFRASER