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FEDERAL RESERVE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks For immediate release H.4.1 October 29, 1970 The average of daily figures of total reserves of member banks decreased $496 million to $28,406 million. Required reserves, excess reserves, and member bank borrowings at Federal Reserve Banks all declined. A seasonal decline in currency in circulation was the major factor supplying reserves during the latest statement week. Reserves were drained in significant amounts by a seasonal decline in float and a modest rise in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed $326 million in reserves net, on a weekly average basis. Most of this reserve absorption was through the run off repurchase agreements made in the previous week. Member bank borrowings were below the average of the previous two weeks and exceeded excess reserves by $291 million compared with the revised figure of $388 million for the previous 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 obligationsHeld 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: Averaejes of daily figures Week ended Changei from week ended Wednesday, Oct. 28, Oct. 21, Oct. 28, Oct. 29, 1970 1970 1970 1969 t millions of dollars) (Ir 59,287 — - 63 205 +4,730 -- 1/ 59,283 — -- 44 35 -— 5 -- 14 -- — 435 153 744 417 339 17 803 2,822 1,821 64,379 11,117 5 797 + 605 -1,339 +3,246 + 750 + 400 + 283 +4,680 213 4 72 15 35 51 107 +3,365 - 201 + 237 + 28 + 261 + 120 +3,810 55,115 690 194 - 496 - 440 56 + 871 + 363 +1,234 +1,170 + 64 22,983 5?013 27,996 28,262 - 266 2,982 1,778 64,516 11,117 . + - --- 400 7,075 83,109 55,015 459 1,182 145 711 2,205 59,716 23,393 5,013 28,406 28,262 144 + - + + + - + - + — -- 36 400 7,080 82,976 472 1,271 197 713 2,225 59,993 A net of $88 million of surplus reserves were eligible to be carried forward from the week ended October 21, into the week ending October 28. J7 Includes $37 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On October 28, 1970, marketable U. S. Government securities held in custody by the Federal Reserve Banks for foreign and international account were $9,907 million, a decrease of $116 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Oct. 29, Oct. 28, I Oct. 21, _1970 I 1970 1969 A S S E T S -+ 783 10,819 Gold certificate account — Special Drawing Rights certif. accts. * 400 + 400 223 Cash (949) 1 + 79 Discounts and advances - 862 - 758 417 Acceptances: «... Bought outright 36 4 Held under repurchase agreements 10 Federal Agency obligations-Held under repurchase agreements 32 U. S. Government securities : Bought outrightEm* 26 23,793 +3,835 Certificates Notes +1,401 32,758 Bonds - 736 2,732 Total bought outright +4,500 1/ 59,283 26 mm 294 Held under repurchase agreements Total U. S. Government securities - 320 59,283 +4,500 Total loans and securities 59,736 +3,738 -1 ,224 Cash items in process of collection (2,558) 803 + 904 9,859 Bank premises + 12 125 Other assets 2/ + -1,210 59 1,696 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS +4,706 -1 ,969 (3,507) 82,858 LI A B I L^ T^ E S 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 (949) 48,432 83 +2,975 22,983 1,271 -1,414 + 118 + 90 __ -1,206 - 724 + 856 + 216 + 78 + 251 +1,401 + 208 + 48 +4,632 197 (2,558) 713 25,164 7,037 570 24 (3,507) 81,203 -2,037 C A P I T A L A C C O U N T S + Capital paid in 690 + Surplus 669 Other capital accounts 296 + 68 Contingent liability on acceptances purchased for foreign correspondents 238 + * Figures in parentheses are the eliminations made in the consoli dating process. JV Includes $37 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. J2/ Includes assets denominated in foreign currencies and IMF gold deposited 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 28, 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 obligations advances Acceptances Holdings Weekly changes 410 Within 15 days 3,597 14 -188 16 days to 90 days 22 7 11,139 + 9 91 days to 1 year -— -173 13,027 Over 1 year to 5 years --. •s — 25,356 Over 5 years to 10 jars — — 5,524 Over 10 years — — 640 -Total 59,283 -352 417 36 25 39 10 89 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Minneapolis Kansas City 2,128 70 510 15 205 7 559 15 353 14 560 49 182 30 40 32 22 12 41 8 43 16 28 14 93 29 5 11 272 5 -» 8 2 4 -__ -.. — _-. -—— -__ -_ _— _ «, — mm «,— -- «. «. m. .. —_ •"*" ~ "* —— -" — —— -- —- -- -- 15,047 1,215 -1,672 139 3,026 -3,026 3,029 1,873 -2,579 215 4,667 -4,667 4,669 835 466 3,857 ---641 5,31.1 1,149 96 443 53 9,611 2,080 ~T,160 ---9,611 2,080 I J 60 9,883 " 2,085 i ,161 916 -1 ,261 105 2 ,282 -2 ,282 2 ,290 1,076 __ 1,481 124 2,681 -2,681 2,683 3,328 -_ 4,582 382 8,292 -8,292 8,296 Boston New York 10,819 400 632 23 2,658 93 695 23 975 33 1,030 36 514 22 F. R. notes of other banks Other cash 949 223 122 11 216 21 58 10 45 25 59 15 Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligationsHeld under repurchase agreements U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements TotalU, S. Government securities Total loans and securities 417 12 92 3 2 36 -~ «. — 36 _ «. -«._ •" •» ™ "" Cash items in process of collection Bank premises Other assets 27 TOTAL ASSETS „._ •" •" 1,212 — 1,669 139 3,020 5,987 -8,244 688 14,919 -- 1,792 1 ,236 --2,467 1,702 142 206 4,465 ~T,080 --4,465 3 ,080 4,470 3 ,091 Dallas 23,793 — 32,758 2,732 1/ 59,283 -59,283 59,736 3,020 3,032 12,417 125 1,696 737 2 86 2,398 8 571 597 2 82 905 11 123 888 11 102 1 ,148 17 87 2,017 17 229 587 12 51 476 10 32 771 18 59 821 8 75 1,072 9 199 86,365 4,645 21,012 4,496 6,786 6,611 5 ,091 14,416 3,294 l ,940 3 ,771 3,996 10,307 -- i4,9iq l_/ Includes $37 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. San Francisco St. Louis PhilaCleve- RichAtlanta Chicago mond delphia land (In millions of dollars) Total ASSETS Gold certificate account Special Drawing Rights certif. acct. OCTOBER 28, 1970 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 28, 1970 Total LIABI.LITXES Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accri.ted 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 Boston New York Phila- CleveMinneSt. Rich- Atlanta Chicago delphia land Louis apolis mond (In millions of dollars) Kansas City San Dallas Francisco 49,381 2,801 11,651 2,766 4,038 4,453 2,505 8,697 1,860 853 1,823 1,847 22,983 1,271 197 713 25,164 9,595 967 88 8 2 1,065 672 6,402 203 1/ 72 2/663 7,340 1,441 991 116 9 3 1,119 499 1,717 78 15 1 1,811 747 1,167 102 9 11 1,289 735 1,426 81 11 1 1,519 932 3,668 93 25 6 3,792 1,586 781 93 6 2 882 476 565 60 4 2 631 407 1,068 105 7 2 1,182 676 1,357 2,874 169 83 22 9 19 1 1,450 3,084 583 841 570 84,710 29 4,567 143 20,575 28 4,412 46 6,642 42 6,519 30 91 4,986 14,166 20 3,238 13 1,904 22 3,703 26 80 3,906 10,092 690 669 296 32 32 14 183 177 77 35 34 15 61 60 23 35 34 23 102 99 49 24 23 9 16 15 5 29 28 11 86,365 4,645 21,012 4,496 6,786 6,611 5,091 14,416 3,294 1,940 3,771 238 12 3/ 63 12 21 12 8 5 10 13 31 8,977 1,957 891 1,915 2,005 6,415 1,000 155 46 43 16 16 35 39 37 14 6,087 88 87 40 3,996 10,307 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securiti es Total collateral 51,618 2,945 12,203 2,841 4,201 4,580 3,300 250 500 300 510 580 49,755 2,730 11,800 2,700 3,750 4,075 2,900 8,250 1,880 915 1,975 2,030 6,750 53,055 2,980 12,300 3,000 4,260 4,655 2,900 9,250 2,035 915 1,975 2,035 6,750 17 After deducting $125 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $175 million participations of other Federal Reserve Banks. 2,688 5
@FedFRASER