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FEDERAL RESERVE Factors Afftctiig loik Itstrvts aid Coiditioi S t i l i M t i t »f f . I . loiks H.4.1 For immediate release October 15, 1970 The average of daily figures of total reserves of member banks declined $381 million in the latest week to $28,396 million. Excess reserves declined significantly following a sharp rise in the previous week. Required reserves were unchanged from the level of the past week while borrowings at Federal Reserve Banks increased. A modest seasonal rise in float was the major source of reserves in the latest statement week. Absorbing reserves were a seasonal rise in currency in circulation and an increase in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $57 million in reserves net, on a weekly average basis. Member bank borrowings increased by a modest amount and exceeded reserves by $411 million. In the previous week member bank borrowings were $27 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 Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held Required reserves Excess reserves NOTE: Averages of daily figures Week ended Chang e from week ended Wednesday, Oct. 14, Oct. 7, Oct. 15, Oct. 14, 1970 1970 1969 1970 (Iri millions of: dollars) 59,366 -- 56 +4,800 - 191 1/ 59,366 122 28 4 15 143 4 26 36 33 894 914 + 538 -1,448 2,427 1,776 +2,760 557753 + 750 + 400 + 287 +4,197 11,117 37 7 - 3 8 453 + 57 2,703 1,734 64,450 + 117 + 42 + T5B" __ _<_ 11,117 400 7,066 83,033 - 4 162 377 4 163 4 80 39 589 427 46 381 -- + 527 + 490 +1,017 i +1,193 - 381 - 176 1 + 1,037 + + + + 139 809 + + 2,294 59,940 + 55,200 461 23,094 5,302 28,396 28,354 42 - - + +3,351 - 209 558 400 7,069 83,839 55,408 456 899 151 725 67 + 23 + 298 + 276 +3,671 2,132 59,771 24,069 5^302 29,371 28,354 1,017 A net of $204 million of surplus reserves were eligible to be carried forward from the week ended October 7, into the week ending October 14. 1/ Includes $52 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On October 14, 1970, marketable U. S. Government securities held in custody by the Federal Reserve Banks for foreign and international account were $9,887 million, an increase of $328 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollaifa) Changei since Wednesday Oct. 15, Oct. 7, Oct. 14, 1970 1969 1970 A S S E T S Gold certificate account 10,819 + 783 Special Drawing Rights certif. accts s. * + 400 400 Cash 221 + 73 (820) 2 Discounts and advances + 612 914 - 269 Acceptances: Bought outright 36 4 Held under repurchase agreements 33 + 33 14 Federal Agency obligations-A Held under repurchase agreements + 143 143 53 U. S. Government securities : Bought outright— Bills 23,876 +3,827 Certificates Notes +1,401 32,758 Bonds - 736 2,732 Total bought outright .» +4,492 1/ 59,366 Held under repurchase agreements + 558 + 124 "" 558 Total U. S. Government securities +4,616 + 558 59,924 Total loans and securities +4,382 +1 ,346 61,050 Cash items in process of collection 85 (3,088) io,571 + 780 Bank premises + 11 124 + 1 Other assets 2J 1,652 -1,375 + 52 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,908) 84,837 +4,189 +2 ,177 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 TOTAL LIABILITIES C A P 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 (820) 48,717 250 +3,006 24,069 + 764 + 239 + 1 + 27 +1,031 +1,118 + 5 +2,404 +1,074 + 115 + 9 + 241 +1,439 - 395 + 80 +4,130 899 151 725 (3,088) 25,844 8,144 (3,908) 83,320 615 690 669 158 M_ -• 227 233 Figures in parentheses are the eliminations made in the consoldating process. 17 Includes $52 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 27 Includes assets denominated in foreign currencies and IMF gold deposited. 37 Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 14, 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 Federal Agency obligations Discounts and Acceptances Holdings advanceIB Weekly changes 43 Within 15 days 3,478 860 +847 16 days to 90 days 11,751 54 26 - 70 91 days to 1 year — — 13,318 - 76 Over 1 year to 5 years •s --25,356 Over 5 years to 10 >ars --5,524 Over 10 years — — — 640 Total 914 60,067 69 +701 + + 25 39 5 83 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Philadelphia OCTOBER 14, 1970 Cleve- RichAtlanta Chicago mond land St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) 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/ 807 23 2,434 93 686 23 843 33 985 36 510 22 1,862 70 345 15 135 7 528 15 389 14 1,295 49 820 | 221 ! 104 10 177 22 54 10 44 23 57 14 152 30 34 32 16 12 38 8 44 16 19 14 81 30 914 1 28 214 1 3 9 27 424 -. 3 4 4 197 --- 36 33 — -- — -- — -- --- --- --- --- --- --_ --- 1,216 6,008 1,219 — — — 1,669 8,244 1,672 139 688 139 3,024 14,940 3,030 — -558 3,024 15,498 3,030 3,052 15,924 3,031 1,879 — 2,579 215 4,673 — 4,673 4,676 1,799 — 2,467 206 4,472 -4,472 4,481 1,240 — 1,702 142 3,084 — 3,084 3,111 838 3,871 — -5,311 1 ,149 96 443 9,625~2 ,083 — — 9,625~~1 ,083 10,049 2 ,083 468 — 641 53 1,162 — 1,162 1,165 919 — 1 ,261 105 ,285 — .285 —y2 ,289 1,080 — 1,481 124 2,685 -2,685 2,689 3,339 — 4,582 382 8,303 -8,303 8,500 767 8 81 1,124 9 190 10,819 400 j 36 33 143 23,876 — 32,758 2,732 1/ 59,366 558 59,924 61,050 143 13,659 124 1,652 765 2,411 2 8 83_ 563 815 2 80 1,015 10 120 997 11 95 88,745 4,846 21,632 4,701 6,764 6,676 ~T 1,321 17 83_ 2,406 17 220 737 12 49 521 10 31 780 18 57 5,246 14,690 3 ,269 1,915 3 ,747 Includes $52 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. 3,981 LI,278 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Phila- Clevedelphia land Richmond Atlanta OCTOBER 14, 1970 St. Louis Chicago Minneapolis 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 ace:eptances purchased for forei-gn correspondents 49,537 2,812 11,683 2,763 4,044 4,439 2,528 8,730 1,867 857 1,833 1,855 6,126 24,069 964 60 6 1 6,759 1,042 1,590 1,176 1,422 3,661 91 12 _- 109 7 12 75 9 2 58 20 7 1,091 1,693 1,304 741 846 808 1,508 1,081 3,746 1,893 519 49 3 2 573 438 3,815 40 7 2 708 44 5 6 763 567 1,057 1,356 112 899 151 725 25,844 11,232 1,031 901 1/ 51 2/672 7,594 1,781 615 31 172 29 47 44 31 95 20 13 87,228 4,775 21,230 4,624 6,630 6,595 5,148 14,464 3,217 1,881 690 669 158 32 32 7 183 177 42 35 34 8 61 60 13 35 34 12 46. 43 102 99 24 23 16 15 9_ 25_ 88,745 4,846 21,632 4,701 6,764 6,676 5,246 14,690 233 11 3/ 62 12 __12 15 34 21_ 5_ 3,269 _™_JL 3_ 1,915 5_ 68 6 3 63 7 2 130 18 16 1,134 1,428 3,979 695 587 894 22 27 84 3,684 3,897 11,083 29 28 6 39 37 8_ 88 87 20 3,747 3,981 11,278 10 13 30 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 2,950 12,158 2,833 4,184 4,558 2,700 9,020 1,943 250 500 300 510 580 -- 1,000 155 2.730 2,980 11,800 12,300 2.700 3,000 3.750 4,260 4.075 4,655 2.900 2,900 8.250 9,250 1.880 2,035 17 After deducting $ 100 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $ 171 million participations of other Federal Reserve Banks. 890 1,934 1,989 6,422 5 915 915 1,975 2,030 fr,75Q 1,975 2,035 6,750
@FedFRASER