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FEDERAL ***f**LRE$*V RESERVE Factors Afftctiig I n k t t s t r t t s mi Conditio! Stfltonoit of F.I. l o l l s H.4.1 For immediate release October 8, 1970 The average of daily figures of total reserves of member banks declined $235 million in the latest week to $28,777 million. Required reserves and member bank borrowings at Federal Reserve Banks declined while excess reserves rose sharply. Major factors supplying reserves in the latest week were other Federal Reserve assets and Treasury deposits at the Federal Reserve Banks; together these factors supplied $596 million in reserves. Partially offsetting these reserve increases was a seasonal rise in cuftency in circulation. In addition, System Open Market operations absorbed $21<l million in reserves net, on a weekly average basis. Member bank borrowings were $27 million less than excess reserves. In the previous week they exceeded excess reserves by the revised figure of $413 million. 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 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 Banksi Currency and coin Total reserves held Required reserves Excess reserves NOTE: Averages of daily figures Week ended Change from week ended Wednesday, Sept. 30, | Oct. 8, Oct. 7, Oct. 7, 1970 1970 1970 IttL (In millions of dollars) 59,366 178 165 18 +5,336 - 123 24 25 53 34 15 2 9 4 20 36 396 267 - 571 302 2,586 1,692 64,292 11,117 400 7,062 82,871 54,823 + 20 + 380 "" 83 + 270 -1|532 +3,305 + 750 + 400 + 281 2,759 1,723 64,186 11,117 400 7^064 82,767 55,135 472 457 874 135 729 2,333 59,351 23,521 5,256 28,777 28,354 423 + - + + - + + + + - + 7 77 194 9 216 10 34 75 107 182 53 235 408 173 +4,736 +3,369 - 209 j 38 + 1 + 232 + 181 +3,536 +1,201 + 423 +1,624 +1,340 , + 284 1 .1/59,366 660 150 698 2,354 59,469 23,299 5,256 28,555 28,354 201 A net of $149 million of surplus reserves were eligible to be carried forward from the week ended September 30, into the week ending October 7. 1/ Includes $31 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On October 7, 1970, marketable U. S. Government securities held in custody by the Federal Reserve Banks for foreign and international account were $9,559 mill an increase of $259 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, 8, Se£t. 30, Oct. 7, 1970 1970 1969 A S S E T S -Gold certificate account 10,819 + 783 — Special Drawing Rights certif. accts. + 400 400 Cash (896) + 70 2 223 - 486 Discounts and advances 302 551 Acceptances: _ Bought outright 3 36 Held under repurchase agreements 51 23 Federal Agency obligations-80 49 Held under repurchase agreements U. S. Government securities : Bought outright— +4,563 23,876 234 Bills Certificates — Notes +1,401 32,758 -Bonds - 736 2,732 Total bought outright 234 +5,228 1/ 59,366 -Held under repurchase agreements - 162 - 375 Total U. S. Government securities +5,066 59,366 - 609 Total loans and a e c u H H e a 59,704 -1,291 +4,505 Cash items in process of collection (2,859) 9,785 + 598 + 719 Bank premises + 10 + 1 123 Other assets 2J -1,452 1,600 + 44 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,755) -T-T4T +57033 82J654 wmmm L I A 1 U I T I 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 C A P I T A L AC CO U N T S C a p i t a l paid in Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents (896) 48,467 + 380 +2,950 23,299 + 594 578 14 +2,028 - 488 + 27 + 195 +1,762 + 142 + 85 +4,939 660 150 698 (2,859) 24,807 7,026 (3,755) 80,910 27 -1,185 + 106 610 16 - 690 669 385 232 715 70 + + + 25 39 32 3 + 74 1 — - k onsol Idat ing process. Figures in parentheses are the eliminations made in the consol JL/ Includes $31 million securities loaned—fully secured by U. 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 7, 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 Holdings advances Acceptances Weekly changes Within 15 days 300 14 2,631 -455 16 days to 90 days 2 22 11,821 +252 91 days to 1 year 13,394 -486 Over 1 year to 5 years -25,356 Over 5 years to 10 years — 5,524 Over 10 years -640 Total 59,366 36 •689 302 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON H.4.1(b) ,,-. -,.- . . l . J W M U J i i , l . J . ^ . . . . " * J ^ l J ! t . U - H ' : . ••.•'••.,„..,, ... ..,,^*>>i}>*. <<!„<<*«:*»>..' „..'», !..'...J J . ' ..,1'V.J. •••• '- • *"".-..,. • •• •'.. Total New Boston York OCTOBER 7, 1970 • Phila- Cleve- RichAtlanta Chicago mond delphia land St Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) ASSETS Gold certificate account Special Drawing Rights certif. acct. 10,819 400 539 23 2,187 93 629 23 977 33 1,122 36 523 22 1,851 70 470 15 136 7 343 15 349 14 1,693 49 113 10 210 24 63 10 52 24 57 14 161 30 38 31 16 13 42 8 39 15 17 14 88 30 15 3 3 i -__ -__ -_.. -... -- 468 — 641 53 1,162 -1,162 1,177 919 — 1 ,261 105 2 ,285 — 2 ,285 2 ,288 1,080 -1,481 124 2,685 -2,685 2,688 3,339 — 4,582 382 8,303 480 10 30 836 18 56 707 8 70 1,053 9 186 F. R. notes of other banks Other cash 896 1 223 1 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 Total U. S. Government securities Total loans and securities 302 i 30 10 i 1 -.- •4- 238 36 .... -__ 36 -- __ __ -... --- --- -__ 1,219 1,879 — -1,672 2,579 215 139 3,030 4,673 -— 4,673 3,030 3,031 4,674 1,799 -2,467 206 4,472 — 4,472 4,472 1,240 — 1,702 142 3,084 — 3,084 3,084 838 3,871 — -5,311 1 ,149 96 443 9,625~~2 ,083 -— 9,625~2 ,083 9,863 2 ,083 903 10 116 858 11 94 1,164 17 80_ 2,204 17 212 Cash items in process of collection Bank premises Other assets V TOTAL ASSETS 1/ 2/ —— • « • 1/ 23,876 1,216 6,008 — -— 32,758 1,669 8,244 688 2,732 I 139 59,366 3,024 14,940 — i --59,366 3,024 14,940 59,704 3,054 14,986 12,644 123 1,600 755 2,400 2 8 81_ 549 658 2 79 626 11 47 1 86,409 4,577 20,457 4,495 6,789 6,664 5,081 14,286 3 ,281 1,890 3 ,610 3,867 11,412 Includes $31 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. / , 8,303 8,304 • i H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 7, 1970 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis Kansas City ~ San ~ " Dallas Francisco (In millions of dollai•s) 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 49,363 2,800 11,617 2,748 4,023 4,440 2,528 8,704 1,860 23,299 660 150 698 24,807 9,885 927 41 7 1,022 65 8 4 1,099 530 1,742 43 14 975 688 6,048 89 1/ 36 2/642 6,815 1,409 1,799 767 1,184 120 8 15 1,327 754 1,360 51 10 2 1,423 990 3,378 22 23 7 3,430 1,789 792 40 5 1 838 502 610 84,665 32 4,495 154 19,995 30 4,407 49 6,638 45 6,566 31 4,972 98 14,021 21 3,221 13 1,852 690 669 385 32 32 18 183 177 102 35 34 19 61 60 30 35 34 29 46 43 20 102 99 64 24 23 13 86,409 4.577 20.457 4,495 6,789 6,664 5,081 14,286 232 11 3/ 61 12 21 12 15 34 -- -- 3,281 8_ 856 1,833 1,847 6,107 555 987 20 31 3 7 3 ,2_. 580 1,028 403 654 1,304 30 9 1,345 555 4,000 108 20 20 4,148 844 24 3,539 27 3,774 86 11,185 16 15 7 29 28 14 39 37 17 88 87 52 1,890 3,610 3,867 11,41? 5 10 13 30 885 1,934 1,971 6,432 2 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 2,961 12,122 2,818 4,182 4,559 2,694 9,006 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 2f900 2,900 17 After deducting $ 114 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $171 million participations of other Federal Reserve Banks. 8r?50 1r880 9,250 2,035 5 .215 915 1.975 1,975 2,030 2,035 6,750 6,750
@FedFRASER