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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release September 9, 1971 The average of daily figures for total reserves of member banks increased $338 million in the latest statement week to $30,869 million. Required reserves and member bank borrowings at Federal Reserve Banks increased while excess reserves declined. An increase in Treasury deposits with Federal Reserve Banks and a seasonal rise in currency in circulation were the major factors absorbing reserves in the latest statement week. A seasonal increase in float partially offset these reserve drains. In addition System Open Market operations provided $411 million of reserves net, on a weekly average basis, through repurchase agreements and outright purchases of coupon issues. Member bank borrowings increased to an average level of $765 million and exceeded excess reserves by $541 million compared tp $363 million for 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: Averaeres of daily figures Week ended Change from week ended Wednesday, Sept. 8, Sept . i , 1 Sept. 9, Sept. 8, 1971 1971 1971 1 1970 (Iri millions oiI dollars) + 91 + 218 +6,823 + 79 95 + 68 + 45 188 53 54 + + -34 + + 13 28 52 83 765 + 57 + 2 338 52 - 336 +6,602 -1,235 2,576 66,726 335 2,608 816 71,452 10,132 400 7,494 89,478 59,059 464 1,318 165 711 2,402 64,120 25,358 5,511 30,869 30,645 224 66,741 554 + 152 + 40 + 661 -— + 18 + "579" + 349 - 11 + 105 - 29 + 20 + 78 + 513 54 152 733 + 10 +4,199 2,427 64,435 + + + + — +1,617 + 321 +1,938 +2,129 - 191 24,990 5,511 30,501 30,645 - 144 166 172 338 459 121 — 848 71,380 10,132 400 + 451 +5,818 7,512 89,424 +4,042 + 1 + 190 + 9 59,472 466 1,185 A net of $170 million of surplus reserves were eligible to be carried forward from the week ended September 1, into the week ending September 8. On September 8, 1971, marketable U.S. Government securities held in custody by the Federal Reserve Banks for foreign and international accounts were $21,033 million, an increase of $687 million for the week. 2/ Includes $22 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 Sept. 9, Sept. 1, Sept. 8, 1970 1971 1971** A S S E T S «.— -1,170 9,875 Gold certificate account — — 400 Special Drawing Rights certif. accts. + 70 (796) 278 4 Cash - 153 338 Discounts and advances - 651 Acceptances: -52 + 13 Bought outright 83 3 + 83 Held under repurchase agreements Federal Agency obligations-188 71 + 188 Held under repurchase agreements U. S. Government securities : Bought outright— 44,436 28,937 Bills , Certificates Notes 34,583 70 +1,983 + Bonds + 514 3,221 + 36 Total bought outright +6,933 + 106 1/ 66,741 Held under repurchase agreements 554 31 + 554 Total U, S. Government securities 67,295 + +7,487 75 Total loans and securities - 508 67,956 +7,618 Cash items in process of collection (2,872) 10,752 +1,173 + 625 Bank premises + 25 147 2 + Other assets 2/ 701 - 373 + 18 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (3,668) 90,109 +7,343 133 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 ACCOUNTS C a p i t a l p a i d in Surplus Other capital accounts Contingent liability on acceptances purchased for foreign correspondents (796) 52,446 520 +3,726 24,910 1,185 +2,161 + 78 (2,872) 26,980 8,256 (3,668) 88,289 - 850 9 + 10 + 51 - 798 + 358 12 + 68 734 702 384 1 — 64 + + 269 24 + 152 733 607 5 10 +2,224 +1,366 19 +7,297 32 * Figures in parentheses are the eliminations made in the consolidating process. J7 Includes $22 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. **(Estimated Philadelphia District). MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 8, 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 Federal Agency obligations Acceptances advance£8 Holdings Weekly changes Within 15 days 337 99 4,317 +160 16 days to 90 days 1 36 18,202 - 92 91 days to 1 year — — 15,347 - 21 Over 1 year to 5 years •s — 23,323 + 83 Over 5 years to 10 years »ars 5,388 + 11 -Over 10 years 906 + 5 -__»_ Total 338 67,483 +146 135 45 33 25 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 8, 1971 • ! Total Boston New York • Phila-* Cleve- RichAtlanta Chicago delphia land mond (In millions of dollars) St. Louis Minneapolis Kansas City Dallas San Francisco A S S E T S 9,875 400 555 23 733 93 1,489 23 989 33 986 36 558 22 2,074 70 407 15 126 7 442 15 521 14 995 49 F. R. notes of other banks Other cash 796 278 102 9 142 25 60 10 65 24 68 35 158 34 40 41 19 15 33 6 25 27 21 17 63 35 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 338 50 51 1 5 1 9 207 2 2 — 10 52 83 --- 52 83 —— —— -— •""" —— 188 ~~"~ 188 28,937 1,347 7,441 Gold certificate account Special Drawing Rights certlf. acct. 1 1 34,583 1,611 — 1,495 — ~*"~ "" — "" "" """• "" — mmmm * —— ~"~ wmmm ""•" *"•" """" •""" "" *" •" " "~ "" ». m. <M V "" "~ 4,046 2,234 2,082 1,439 4,752 1,055 587 1 ,144 1,315 -- -- -- -- -- -- -- -- -- 2,488 1,719 232 160 4,802 3,318 5,679 529 10,960 1,262 118 2,435 702 65 1,354 1 ,367 127 ~2 ,638 1,571 146 3,032 4,835 451 9,332 1,786 166 3,447 -- -- -- -- -- -- 3,447 3,448 5,153 5,158 4,802 3,318 4,803 3,327 10,960 11,167 2,435 2,435 1,354 1,356 ~2 .638 2 ,640 3.032 3,032 9.332 9,342 3,146 8 285 700 3 30 873 20 45 1,155 1,252 13 16 39_ 26 2,014 17 84 693 14 19 471 19 12 733 18 20 753 9 25 1,067 8 72 22,522 5,763 7,207 5,393 15,507 3,617 2,030 3 ,920 TOTAL ASSETS — 13,624 147 701 767 2 ,44 93,777 4,660 i -"mi«r i — 2,670 249 5,153 -- -- 7,135 — i Includes $22 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. Estimated. — 8,893 828 j 3,221 I 150 17,162 66,741 | 3,108 U -554 554' 67.295 3,108 17,716 67,956 3,158 18,090 Cash items in process of collection Bank premises Other assets 2/ 1/ 2/ * -- ~" ~ •••• — 4,392 ]LI,631 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Bos ton New York * Phila- Clevedelphia land Richmond Atlanta SEPTEMBER 8, 1971 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 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 53,242 2,901 12,889 3,042 4,336 4,675 2,579 9,303 2,027 899 1,988 2,095 6,508 24,910 1,185 846 56 6 1 909 736 6,585 1,012 1,768 1,202 1,532 3,988 3,946 81 13 — 1,862 116 7 21 98 9 3 166 6 2 129 8 1 37 18 22 1,346 1,228 1,644 4,023 801 971 1,642 1,026 589 95 3 2 689 390 1,506 37 7 2 882 76 5 1,054 146 605 529 780 152 733 26,980 11,128 1/ 49 2/ 655 7,435 1,559 1,058 1,539 148 21 3 " 4,160 1,669 21 984 523 607 29 162 30 47 42 31 96 21 13 24 27 85 91,957 4,575 22,045 5,669 7,046 7,034 5,278 15,228 3,555 1,991 3,845 4,295 11,396 734 702 384 34 33 18 191 185 101 38 36 20 67 63 31 38 36 27 50 47 18 109 105 65 25 24 13 17 16 6 31 30 14 93,777 4,660 22,522 5,763 7,207 7,135 5,393 15,507 3,617 2,030 3,920 4,392 11,631 269 13 14 24 14 18 40 11 15 34 2,081 2,221 6,807 3/ 71 9_ 6_ 41 39' 17 93 88 54 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account U. S. Government securities Total collateral 1/ 2/ 3/ * 13,290 3,126 4,501 4,799 500 300 500 485 2,920 13.000 3.000 4.100 4.375 3,120 13,500 3,300 4,600 4,860 After deducting $ 103 million participations of other Federal Reserve Bahks. Includes IMF gold deposit. After deducting $ 198 million participations of other Federal Reserve Banks. Estimated. 2,740 9,587 2,111 934 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 5
@FedFRASER