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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release H.4.1 September 16, 1971 The average of daily figures for total reserves of member banks increased $12 million in the latest statement week to $30,881 million. Required reserves and member bank borrowings at Federal Reserve Banks declined while excess reserves increased. A seasonal increase in float and a decline in other Federal Reserve liabilities and capital were the major factors supplying reserves in the latest statement week. These reserve gains were in part offset by a rise in currency in circulation. In addition, System Open Market operations drained $79 million reserves net, on a weekly average basis, primarily through matched sale-purchase transactions. Member bank borrowings were below the average of recent weeks and exceeded excess reserves by $191 million compared to $541 million in the previous week. 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 Change from week ended Wednesday, Sept. 8, Sept. 16, Sept. 15, Sept. 15, 1971 1970 1971 1971 (In millions of dollars) 130 76 +6,929 95 75 20 37 51 51 2 3 457 66,596 411 2,955 894 71,490 10,132 400 7,522 89,545 59,354 458 1,388 139 708 2,226 64,274 25,271 5,610 30,881 30,615 266 + 1/2/65,726 12 11 50 308 43 349 344 77 34 — — 428 -|_ 63 + 111 - 312 +6,650 -1,235 3,311 948 70,384 10,132 400 7,528 88,444 + + +4,109 + + + + + -+ 474 +5,890 + 291 6 70 26 3 176 150 - 117 +4,327 59,332 465 1,386 139 767 2,210 64,299 + + + 87 99 12 30 42 +1,563 + 397 +1,960 +2,050 90 24,145 5,610 29,755 30,615 - 860 - 4 + 408 11 60 A net of $120 million of surplus reserves were eligible to be carried forward from the week ended September 8, into the week ending September 15. On September 15, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $21 308 million, an increase of $275 million for the week. ' 1/ Excludes $1,015 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $38 million securities loaned-fully secured by U.S. Government securities pledged with Federal Reserve Banks. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change Wednesday Sept. 8, Sept. 15, 1971 1971 ASSETS 9,875 Gold certificate account 400 Special Drawing Rights certif. accts. 285 Cash (887) + 7 349 + 11 Discounts and advances Acceptances: 50 Bought outright 2 Held under repurchase agreements 83 Federal Agency obligations-Held under repurchase agreements 188 U. S. Government securities : Bought outright— Bills 27,922 •1,015 Certificates Notes 34,583 Bonds 3,221 Total bought outright 1/ 2/ 65,726 -1 ,015 Held under repurchase agreements - 554 Total U. S. Government securities 65,726 -1,569 Total loans and securities 66,125 -1 ,831 Cash items in process of collection (3,264) 12,455 +2 ,455 Bank premises 1 148 + Other assets 3/ 800 + 90 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (4,151) 90,088 +; 722 LIABILITIES Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other 4/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (887) (3,264) since Sept. 16 1970 -1,170 + 74 4- 139 -*- 44,293 +1,893 + 506 +6,692 +6,692 +6,842 + 407 + 26 - 371 +5,808 52,297 175 +3,798 24,065 1,386 139 767 26,357 9,224 605 88,483 877 201 13 34 +1,220 + 390 + 13 + 10 - 655 +1,769 2 z + 937 +1,633 + 319 9 +5,741 (4,151) CAPITAL ACCOUNTS Capital paid in 734 + Surplus 702 + Other capital accounts 169 215 Contingent liability on acceptances purchased for foreign correspondents 267 2 + * Figures in parentheses are the eliminations made in the consolidating process. 1/ Excludes $1,015 million of securities sold, and scheduled to be bought bac k, under matched sale-purchase transactions. 2/ Includes $38 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies and IMF gold deposited. 4/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 15, 1971 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with makimum maturity of the agreements.) U. S. Government securities and Discounts and Federal Agency obligations advances Acceptances Holdings Weekly changes Within 15 days 348 14 3,078 -1,239 16 days to 90 days 1 36 17,650 - 552 91 days to 1 year 15,485 + 138 Over 1 year to 5 years 23,219 - 104 Over 5 years to 10 years -5,388 Over 10 years 906 — Total 349 50 65,726 -1,757 11 44 33 10 28 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total ! Boston A S S E T S 400 I 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 Cash items in process of collection Bank premises Other assets 3/ TOTAL ASSETS 1/ "ll 3*/ 428 23 9,875 F. R. notes of other banks Other cash Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities York Philadelphia .• Cleve- Rich- Atlanta Chicago land mond (in millions of dollars) St. Louis Minneapolis Kansas City Dallas Francisco 894 33 883 36 526 22 70 390 15 107 7 359 15 352 14 538 49 31 7 30 27 26 16 100 38 3 36 -- --- --- --- 3,904 285 ! 9 196 28 53 10 59 23 77 35 148 34 36 41 20 17 349 ; 52 78 68 2 6 35 69 * -" 50 -- --- --- --- --- — -- --- —— -- -- 887 i 1 U 50 i -- -- -27,922 \ 1,300 — yy 743 23 1,950 93 2,705 34,583 3,221 1 65,726 --' 65,726 66,125 --- -- 7,181 1,442 2,155 2,008 1,389 4,585 1,018 -- -- -- -- -- -- -- 8,893 1,786 2,670 2,488 1,719 5,679 1,262 150 828 166 249 232 160 529 118 567 -702 65 3,061 16,902 3,394 5,074 4,728 3,268 10,793 2,398 1,334 — 1,611 — — -- — 1,104 127 1,269 -1,571 146 2,598 1 ,986 9,190 -2",986 3,022 9,190 9,190 -1,367 — -4,835 451 — -- -- -- -- -- 3,061 3,113 16,902 17,030 3,394 3,462 5,074 5,076 4,728 4,734 3,268 3,303 10,793 10,862 2,398 2,398 1,334 1,334 2,598 2,601 954 2 48 2,435 1,245 1,597 2,605 8 293 801 3 36 1,223 148 800 21 44 13 43 16 30 17 94 838 14 20 638 19 12 937 18 21 982 9 28 8 131 94,239 4,688 22,788 5,131 7,373 7,066 5,676 15,675 3,712 2,155 4,008 4 ,449 11,518 15,719 Includes $1,015 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. Includes $38 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, San ! Gold certificate account Special Drawing Rights certif. acct. Bonds New SEPTEMBER 15, 1971 1,464 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON i Total Boston New York 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 53,184 24,065 1,386 139 767 26,357 12,488 • ii i SEPTEMBER 15, 1971 i Phila- CleveRich- Atlanta Chicago mond delphia land (In millions of dollars) 12,898 3,057 4,336 4,669 2,575 9,300 801 6,663 269 93 6 1/ 39 3 2/ 707 903 7,678 787 1,643 1,124 1,675 1,185 1,558 3,632 172 7 3 130 12 1 43 7 20 84 9 3 202 20 3 1,306 656 1,818 1,029 1,255 1,014 1,654 1,310 3,857 2,182 QS 2,895 St. Louis 2,022 842 58 5 >v 905 710 Minneapolis 899 Kansas City 1,988 San Dallas Francisco 2,094 6,451 610 68 3 1 682 523 1,073 1,389 3,513 61 6 3 95 8 2 111 17 21 1,143 1,494 786 747 3,662 1,101 91 1^ '4 9fi 15,434 3,658 2,119 3,941 4,361 11,312 605 29 150 2Q 46 U-) 92,634 4,614 22,369 5,048 7,229 6,980 ™ 5,569 734 702 169 34 33 7 191 185 43 38 36 9 67 63 14 38 36 12 50 47 10 109 105 27 25 24 5 17 16 3 31 30 6 41 39 8 93 88 25 94,239 4,688 22,788 5,131 7,373 7,066 5,676 15,675 3.712 2.155 4.008 4.449 11.518 267 12 14 24 14 18 40 9 6 11 15 34 9,598 2,119 939 2,078 2,235 6,823 1,000 155 3/ 70 Q 8 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 1/ 2/ 3/ 3,036 13,309 3,127 4,514 4,798 200 500 300 500 485 2,920 13,QQQ 3.QQQ VQQ 4 >375 2,900 8.750 2.030 -260 2.125 2r28Q 7r0Q0 3,120 13,500 3,300 4,600 4,860 2,900 9,750 2,185 960 2,125 2,285 7,000 After deducting $ 100 million participations of other Federal Reserve Bahks. Includes IMF gold deposit. After deducting $ 197 million participations of other Federal Reserve Banks. 2,756 5 Less than $500,000.
@FedFRASER