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$&&. ••f«AUtt&r-- FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release October 28, 1971 H.4.1 The average of daily figures for total reserves of member banks declined in the latest statement week to $30,424 million. Required reserves and excess reserves declined while member bank borrowings at the Federal Reserve Banks increased. A seasonal decline in currency in circulation was the major factor supplying reserves in the latest statement week. A decline in float drained $552 million of reserves on average. System Open Market operations absorbed $504 million of reserves net, on a weekly average basis. However, some reserves were added at the end of the week through repurchase agreements. Member bank borrowings averaged $414 million and exceeded excess reserves by $370 million compared to $28 million in the previous week. 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 obligationsBought 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 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 iEigures Week ended Change from week ended Wednesday, Oct. 27, Oct. 28, Oct . 20, Oct. 27, 1971 1970 1971 1971 (In millions of dollars) 67,161 72 _ - 239 193 -- 96 5 + + 96 5 96 32 + + 16 5 51 35 2,043 . - 1 27 414 + 82 19 3,097 1.160 72,060 10,132 . 552 47 - 929 + 73 - 618 +7,504 - 985 — + 485 +7,004 +4,159 7,560 90,153 59,174 + -— 456 2,183 156 711 2,281 64,962 25,191 5,233 30,424 30,380 44 + - + + - + «. 11 917 173 4 66 11 19 29 90 827 90 - 737 - 477 - 260 + 502 44 51 5 400 1/ 67,256 +7,874 + 72 1 2,685 1,201 73,901 10,132 400 7,561 91,994 59,402 3 462 +1,001 + 11 — + 76 +5,246 1,709 2,305 64,722 +1,758 + 219 +1,977 +2,124 - 147 27,272 5,233 32,505 30,380 2,125 156 688 A net of $110 million of surplus reserves were eligible to be carried forward from the week ended October 20, into the week ending October 27. On October 27, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $22,678 million, an increase of $301 million for the week. 1/ Includes $14 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 October 27, Oct. 20, Oct. 28, 1970 1971 1971 A S S E T S Gold certificate account 944 9,875 Special Drawing Rights certif. accts. 400 Cash (829) + 83 306 5 Discounts and advances + 1,625 +1,547 2,043 Acceptances—Bought outright + 15 51 Held under repurchase agreements + 35 + 35 35 Federal Agency obligations—Bought outright + 96 96 Held under repurchase agreements + 32 32 + 32 U. S. Government securities: Bought outright—Bills + 5,481 29,274 + 664 Certificates Notes + 1,961 34,719 Bonds + 531 3,263 Total bought outright + 7,973 664 67,256 + 1/ Held under repurchase agreements 502 + 502 4- 502 Total U.S. Government securities 67.758 +1 ,166 + 8.475 Total loans and securities +2 780 +10,273 70,015 - 912 Cash items in process of collection (3,328) 11,199 + 1,178 Bank premises + 25 150 1 + Other assets 2/ 645 1,051 30 + TOTAL ASSETS (4,157) +1 ,894 + 9,975 92,996 H.4.1(a) LIABILITIES. 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 (829) 52,352 27,192 1,709 156 688 + 53 +2,683 - 439 + 27 13 +2,258 - 477 (3,328) 29,745 8,594 583 5 (4,157) 91,274 +1,829 + 3,920 + 4,046 + 438 41 25 + 4,418 +1,557 + 13 + 9,908 £ £ I I 1 A L. A C C O U N T S 735 702 285 Capital paid in Surplus Other capital accounts 1 + + — + 45 33 11 66 Contingent liability on acceptances purchased for foreign correspondents 258 4 - 7 + 2 0 * Figures in parentheses are the eliminations made in the consolidating process. 1./ Includes $14 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. October 27. 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 Discounts U. S. Government Accept obligations and -ances securities Holdings Weekly Advances Holdings Weekly Changes changes Within 15 days 2 ,040 16 days to 90 days 3 — 91 days to 1 year — Over 1 year to 5 years — Over 5 years to 10 years — Over 10 years Total 2 ,043 48 38 — — — 86 5,055 17,229 15,822 23,325 5,411 916 67,758 +1,503 - 178 - 159 — — — +1,166 32 + -- — -— — -- 51 20 18 7 128 32 + 32 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 27, 1971 Total Boston New York Philadelphia Cleveland Richmond Atlanta 0\n Chicago St. Louis Minneapolis Kansas City Dallas San Francisco millions of dollars) A S S E T S 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-Bought outright Held under repurchase agreements U.S. Government securities: Bought outright— Bills Certificates: Special Other 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 JL/ 2/ 641 23 2,159 809 33 725 36 507 22 70 638 15 179 7 267 15 539 14 1,496 93 503 23 1,412 400 829 306 121 9 131 31 43 10 51 26 68 39 155 42 34 38 22 19 30 7 34 28 34 16 106 41 i 2,043 58 1,041 63 18 .29 50 613 2 5 12 78 74 51 35 --- 51 35 --- --- --- --- --- --- --- — -- — — — -- 96 32 5 -- 24 32 5 -- 7 -- 7 -- 5 -- 16 -- 4 -- 2 -- 4 -- 4 -- 13 -- 29,274 1,365 7,466 1,550 2,255 2,132 1,474 4,796 1,069 1,359 4,082 -- 554 — 1,172 -- -- -- -4,841 9,875 —i — 34,719 1 1,618 3,263 152 1/ 67,256 3,135 -- — — — 8,855 1,838 2,674 2,529 1,748 5,688 1,268 1,613 173 251 238 164 535 119 657 62 1,390 832 130 152 455 17,153 3,561 5,180 4,899 3,386 11,019 2,456 1,273 2,692 3,124 9,378 -- 502 -- -- -- -- -- -- 3,135 67,758 70,015 1 3,198 17,655 18,838 3,561 3,629 5,180 5,205 4,899 4,935 3,386 3,441 11,019 11,648 2,456 2,462 1,273 1,280 2,692 2,708 3,124 3,206 9,378 9,465 2,271 1,258 1,332 2,537 22 67 13 63 16 43 17 134 807 14 30 651 20 19 936 18 34 910 9 51 1,112 8 369 757 3 53 1,085 1,051 871 2 60 97,153 4,925 23,900 5,021 7,298 7,137 5,558 15,890 4,007 2,193 4,040 4,779 12,405 502 14,527 ! 150 — Includes $14 million securities loaned--fully by U.S. Government securities pledged with Federal Reserve Banks. Includes assets denominated in foreign currencies and IMF gold deposited. -- 49 — — — 8 128 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON New Total Boston York Phila- Clevedelphia land RichAtlanta mond OCTOBER 27, 1971 St. 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 acceptances purchased for foreign correspondents 53,181 27,192 1,709 2,869 12,983 3,073 4,346 4,674 2,591 9,303 2,027 892 1,987 2,081 6,355 7,463 925 330 134 6 1/ 61 * 2/ 617 967 126 7 2 1,738 1,283 1,630 3,940 1,717 44 7 16 188 9 3 124 19 3 966 257 4 1 1,128 76 12 -- 4,837 69 5 2 118 7 2 133 16 41 1,204 1,844 5,027 754 734 723 29,745 11,922 1,065 8,471 1,843 1,102 1,826 1,350 1,830 728 928 977 994 4,086 2,146 1,228 884 672 598 110 3 1 712 539 156 688 583 28 153 29 45 41 31 94 21 12 23 27 79 95,431 4,846 23,450 4,932 7,145 7,042 5,446 15,629 3,948 2,155 3,968 4,686 12,184 735 702 285 34 H 192 185 73 50 47 15 109 105 47 25 24 10 17 16 5 31 30 11 41 39 13 93 88 40 97,153 4,925 23,900 5,021 7,298 7,137 5,558 15.890 4.007 2,193 4.Q4Q 4,779 12.405 12 3/ 68 13 23 13 17 39 9 258 38. 36 15 67 38 36 21 ' §2 23 6_ 11_ 14. Jl_ FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 3,022 13,397 3,143 4,500 4,802 200 500 300 500 485 2,920 13,000 3,000 4,100 4,415 2,900 3,120 13,500 3,300 4,600 4,900 2,900 1/ After deducting $ 95 million participations of other Federal Reserve Banks. 7/ Includes IMF gold deposit. 3/ After deducting $ 190 million participations of other Federal Reserve Banks. 2,788 9,570 2,126 1,000 927 2,066 155 8,750 2,030 9,750 2,185 * 2,230 6,817 5 960 960 2.125 2,125 Less than $500,000. 2.280 2,285 7.QQQ 7,000
@FedFRASER