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o* Govc FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For Immediate release H.4.1 September 2, 1971 The average of daily figures for total reserves of member banks increased $402 million in the latest statement week to $30,531 million. Required reserves and excess reserves increased while member bank borrowings at Federal Reserve Banks declined, A seasonal decline in float was the major factor absorbing reserves in the latest statement week. Partially offsetting this reserve drain was a decline in currency in circulation. In addition, System Open Market operations provided $446 million of reserves net, on a weekly average basis, primarily through outright purchases of Treasury bills. Some repurchase agreements were also made near the end of the week. Member bank borrowings declined to an average level of $708 million and exceeded excess reserves by $363 million compared to $662 million for 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 Special Certificates Federal Agency obligations — Held under repurchase agreements Acceptances — Bought 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 Averages of daily figures Week ended Change from week ended Wednesday Sept. 1, Sept. 1, Sept. 2, Aug. 25, 1971 1970 1971 1971 (In millions of dollars) 282 117 +6,925 16 1/ 66,635 585 27 27 14 1.17 53 20 20 17 7 52 86 708 63 48 989 66,635 117 2,456 776 70,791 10,132 400 7,476 58,710 475 1,213 194 691 2,324 + + + + + + + + + + 118 — — 11 +6,832 -1,235 — 4- 444 165 4 6 0 1 0 1 0 71 +4,037 + 1 4 + 172 + 34 70 + 13 I | I . | 2,314 828 71,606 10,132 400 7,490 89,628 58,920 471 1,194 142 682 2,374 63,783 Member bank reserves: With Federal Reserve Banks 25,192 + 148 +1,841 I 25,845 Currency and coin 5,339 + 254 + 320 5,339 Total reserves held 30,531 + 402 +2,161 31,184 Required reserves 30,186 + 166 +1,994 30,186 Excess reserves 345 + 236 + 167 | 998 NOTE: A net of $66 million of surplus reserves were eligible to be carried forward from the week ended August 25, into the week ending September 1. On September 1, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $20,346 million, an increase of $341 million for the week. 1/ Includes $66 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 since Wednesday Aug. 28, Sept. 2, Sept. 1, 1970 1971 1971 A S S E T S -1,170 9,875 Gold certificate account 400 Special Drawing Rights certif, accts. + 69 (944) 282 + 8 Cash + 146 - 812 Discounts and advances 989 Acceptances: 13 52 + Bought outright + 86 Held under repurchase agreements 86 55 + Federal Agency obligations-+ 95 117 + 117 Held under repurchase agreements U. S. Government securities : Bought outright-+4,303 + 229 28,937 Bills Certificates +1,913 34,513 Notes + 478 Bonds 3,185 +6,694 Total bought outright + 229 1/ 66,635 + 253 Held under repurchase agreements ~ 585 + 585 +6,947 + 814 Total U. S. Government securities 67,220 +7,256 Total loans and securities + 205 68,464 Cash items in process of collection + 218 + 451 (2,972) 10,132 + 23 Bank premises 1 145 Other assets 2J + 321 57 683 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,916) +6,308 + 487 89,981 k1Allh11111 (944) 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 (2,972) (3,916) 33 +3,747 + + + 99 181 7 7 82 437 34 422 +1,929 + 227 9 75 +2,072 + 473 36 +6,256 - 1 -66 51,926 25,765 1,194 142 682 27,783 7,898 619 88,226 C A P I T A L ACCOUNTS Capital paid in Surplus Other capital accounts Concingent liability on acceptances purchased for foreign correspondents 733 702 320 + - + - + + 2 245 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Includes $66 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, SEPTEMBER 1, 1971 (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 advanei 58 Within 15 days 988 1 16 days to 90 days »_ 91 days to 1 year Over 1 year to 5 years •s Over 5 years to 10 years »ars Over 10 years -Total 989 Acceptances —fr— 41 ---_ — 138 Federal Agency o b l i g a t i o n s Holdings Weekly changes + 44 4,157 18,294 +860 + 27 15,368 23,240 _5,377 -901 -67,337 +931 44 33 25 5 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 1, 1971 — ^ — • Total Boston New York Philadelphia in Cleve- RichAtlanta Chicago mond land St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) ASSETS 9,875 I 534 23 400 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/ 27 J ! 1,433 93 619 23 928 33 867 36 571 22 1,819 70 348 15 40 7 361 15 399 14 :L,956 49 944 [ 282 ! 114 8 199 25 59 10 73 24 83 36 168 34 37 42 29 16 39 6 29 27 29 18 85 36 989 104 386 59 13 42 90 243 6 2 2 31 11 7,441 1,494 2,234 2,082 1,439 4,752 1,056 587 1,144 ]L,314 4,046 8,875 819 L7,135 585 L7.720 L8,361 1,782 165 3,441 2,665 246 5,145 2,483 229 4,794 1,716 158 3,313 5,668 523 10,943 1,259 116 2,431 700 65 1,352 1,364 126 2,634 1L,568 145 3,027 4,826 445 9,317 3,441 3,500 5,145 5,158 4,794 4,836 3,313 3,403 10,943 11,186 2,431 2,437 1,352 1,354 2,634 2,636 3,027 3,058 <?,317 9,328 2,049 8 274 716 3 36 1,010 19 36 1,037 13 37 1,292 16 23 2,193 17 77 725 14 17 521 18 11 826 18 21 812 9 33 L,130 8 76 4,723 :22,442 4,966 7,281 6,945 5,529 15,441 3,601 1,996 3,933 4,372 12,668 52 86 52 86 117 117 1,348 28,937 34,513 1,607 3,185 148 JL/ 66,635 3,103 585 ' 167,220 !3,103 68,464 3,207 [13,104 145 683 93,897 793 2 42 Includes $66 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. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON 1 Total Boston New York i • _ SEPTEMBER 1, 1971 "' Phila- Clevedelphia land Richmond Atlanta Chicago St. 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 accnted 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 52,870 2,885 12,821 3,038 4,308 4,651 2,555 9,243 2,017 897 1,973 2,079 6,403 25,765 1,194 142 682 27,783 10,870 917 92 6 1 1,016 712 6,579 147 1/ 47 2/626 7,399 1,598 1,086 115 7 2 1,210 596 1,774 129 12 1,915 855 1,246 48 7 17 1,318 834 1,632 110 9 2 1,753 1,080 3,790 160 19 3 3,972 1,860 831 67 4 1 903 600 527 74 3 2 606 441 1,063 88 5 3 1,159 703 1,451 75 7 3 1,536 636 4,869 89 16 22 4,996 955 619 92,142 29 4,642 165 21,983 30 4,874 47 7,125 45 6,848 29 5,417 98 15,173 22 3,542 14 1,958 25 3,860 27 4,278 88 12,442 733 702 320 33 33 15 191 185 83 38 36 18 67 63 26 38 36 23 50 47 15 109 105 54 25 24 10 17 16 5 31 30 12 41 39 14 93 88 45 93,897 4,723 22,442 4,966 7,281 6,945 5,529 15,441 3,601 1,996 3,933 4,372 12,668 245 12 3/ 65 12 22 12 16 37 8 6 10 14 31 938 2,075 2,214 6,778 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral \_f 2/ 3/ 3,042 13,294 3,120 4,504 4,799 200 500 300 500 530 2,920 13,000 3,000 4.100 4,375 3,120 13,500 3,300 4,600 4,905 After deducting $ 95 million participations of other Federal Reserve Bahks. Includes IMF gold deposit. After deducting $180 million participations of other Federal Reserve Banks. 9,527 2,114 1,000 155 2,900 8.750 2.030 960 2.125 2.280 7.000 2,900 9,750 2,185 960 2,125 2,285 7,000 2,734 5
@FedFRASER