H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4,1 *"*" For immediate release January 2, 1969 The average of daily figures of total reserves of member banks increased $1,068 million to $28,263 million. Required reserves rose reflecting the usual mid-December increase in member bank deposits. Excess reserves increased sharply as bank reserve management was complicated by end-of-year reserve adjustments and the New Years Day holiday. It is expected that a sizable portion of these surplus reserves will be eligible to be carried forward into the next statement week. Currency in circulation rosa contraseasonally and absorbed $142 million reserves, on weekly average. In addition, reserves were absorbed by increases in Treasury deposits with Federal Reserva Banks and other F. R. accounts (net). System operations were the major factor providing reserves in the latest statement week. The System supplied over $700 million of reserves, on weekly average, through open market operations. About three-fourths of these reserves were provided through outright purchases of U. S. Government securities. In addition, member bank borrowings, which usually increase somewhat during this period, rose $459 million, providing a like amount of reserves. Borrowings exceeded excess reserves by $488 million compared with the revised figure of $472 million the week before. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan, 1, Dec, 25, Jan. 3, Jan. 1, and related items 1969 1968 1968 1969 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 52,744 + 576 +3,700 52,937 Held under repurchase agreements 226 + 166 + 12 Federal Agency obligations-- Held under repurchase agreements 11 29 Acceptances-- Bought outright 55 i 20 58 Held «mder repurchase agreements 28 + 21 • 55 Discounts and advances-- Member bank borrowings 1,318 + 459 + 823 188 Other Float 3,689 +1,354 3,482 Total Reserve Bank credit 58,071 +1, 220 +5,785 56,665 Gold stock 10,367 — -1,615 10,367 Treasury currency outstanding 6,814 + 2 + 30 6,814 75,252 +1, 221 +4,199 73,846 Currency in circulation 50,945 + 142 +3,712 50,922 Treasury cash holdings 757 + 3 - 607 752 Treasury deposits with F. R. Banks 579 + 118 - 370 703 Foreign deposits with F. R. Banks 215 - 2 + 68 216 Other deposits with F. R. Banks 560 + 115 7 747 Other F. R. accounts (net) -1,148 + 5 - 463 -1,353 Member bank reserves: 51,907 + 380 +2,334 51,987 With Federal Reserve Banks 23,345 + 842 +1,865 21,859 Currency and coin 4,918 + 226 - 50 4,918 Total reserves held 28,263 +1, 068 +1,815 26,777 Required reserves 27,433 + 625 +1,638 27,433 Excess reserves 830 + 443 + 177 - 656 NOTE: A net of $191 million of surplus reserves were eligible to be carried forward from the week ended December 25, 1968, into the week ending January 1, 1969, On January 1, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,120 million, a decrease of $530 million for the week. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JUL 0 2 1970 H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BAfJfS (In millions of dollars) Wednesday Change since Dec. 31, Dec: . 25, Jan. 3, 1968 1968 1968 A S S E TS Gold certificate account 1/ 10,026 -- -1,454 Cash (784) 207 1 - 155 Discounts and advances 188 143 11 Acceptances: Bought outright 58 + 3 16 Held under repurchase agreements -- - 26 90 Federal Agency obligations- Held under repurchase agreements 13 41 U. S. Government securities: Bought outright- Bills 18,756 + 555 +2,510 Certificates Notes 28,706 +1,788 Bonds 5,475 - 612 Total bought outright 52,937 555 +3,686 Held under repurchase agreements 211 - 255 Total U. S, Government securities 52,937 + 344 +3,431 Total loans and securities 53,183 165 +3,273 Cash items in process of collection (2,314) 9,503 116 39 Bank premises 113 — + 1 Other assets 2/ 2,894 31 -1- 746 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,098) 75,926 + 79 +2,372 Federal Reserve notes (784) 44,726 113 +3,112 Deposits: Member bank reserves 21,859 - 328 - 214 U. S. Treasurer—general account 703 + 535 27 Foreign 216 10 + 55 Other 3/ 747 + 257 + 244 Total deposits 23,525 + 454 + 58 Deferred availability cash items (2,314) 6,021 - 81 - 915 Other liabilities and accrued dividends 396 7 + 79 TOTAL LIABILITIES (3,098) 74,668 + 253 +2,334 C A P I T AL A C C O U N TS Capital paid in 629 + 2 + 28 Surplus 629 + 31 + 31 Other capital accounts -- - 207 - 21 Contingent liability on acceptances purchased for foreign correspondents 109 46 * Figures in parentheses are the eliminations made in the consolidating process. JV Includes amount of gold certificates previously included in "Redemption fund for F. R. notes.11 2/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 31, 1968 (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 Within 15 days 186 16 2,017 -419 16 days to 90 days 2 42 17,567 +850 91 days to 1 year 8,919 -100 Over 1 year to 5 years 12,880 Over 5 years to 10 years 10,943 Over 10 years — 611 Total 188 58 52,937 +331 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON WEDNESDAY, DECEMBER 31, 1968* * San New Phila Cleve Rich St. Minne Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 10,026 554 2,813 494 739 861 524 1,491 353 229 338 344 1,286 F. R. notes of other banks 784 63 162 35 67 83 80 58 33 18 35 43 107 Other cash 207 11 21 5 24 13 27 27 25 3 16 12 23 Discounts and advances 188 * 74 * 11 3 10 65 1 4 8 5 "7 Acceptances: Bought outright 58 -- 58 -- -- -- «.- -- - -- -- - — Held under repurchase agreements -- -- -- -- — -- - — -- "" — ~ "• — - — - Federal Agency obligations-- Held under repurchase agreements — U. S. Government securities: Bought outright-- Bills 18,756 979 4,495 995 1,479 1,410 1,041 3,082 662 363 726 798 2,726 Certificates -- -- -- -- -- -- -- -- -- -- -- -- -- Notes 28,706 1 ,498 6,880 1,524 2,264 2,157 1,592 4,717 1,013 554 1,112 1,222 4,173 Bonds 5,475 285 1,312 291 432 411 304 899 194 106 212 233 796 Total bought outright 52,937 ~~2, 762 12,687 2,810 4,175 3,978 2,937 8,698 1,869 1,023 2,050 2,253 7,695 Held under repurchase agreements -- -- — -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities 52,937 ~2 ,762 12,687 2,810 4,175 3,978 2,93 7 8,698 1,869 1,023 2,050 2,253 7,695 Total loans and securities 53,183 2 ,762 12,819 2,810 4,186 3,981 2,947 8,763 1,870 1,027 2,058 2,258 7,702 Cash items in process of collection 11,817 605 2,663 635 807 886 907 2,028 574 403 824 577 908 Bank premises 113 3 10 2 5 10 18 17 8 3 19 9 9 Other assets 1/ 2,894 125 877 258 224 146 156 377 87 57 109 138 340 TOTAL ASSETS 79,024 4 ,123 19,365 4,239 6,052 5,980 4,659 12,761 2,950 1,740 3,399 3,381 10,375 17 Includes assets denominated in foreign currencies and IMF gold deposited. * Less than $500,000. ** Tuesday Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 31, 1968 ** New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 45,510 | 2,637 10,511 2,616 3,700 4,142 2,476 8,076 1,677 764 1,679 1,575 5,657 deposits: Member bank reserves 21,859 731 5,897 992 1,538 1,021 1,306 2,988 784 678 1,039 1,229 3,656 U. S. Treasurer—general account 703 * 681 * /'* 1 1 1 1 15 "k 1 2 Foreign 216 ! ii 1/ 52 12 20 11 14 32 7 5 10 13 29 Other 747 13 2/517 13 18 21 12 39 8 6 10 11 79 25>tal_ deposits 23,525 755 7,147 1,017 1,576 1,054 1,333 3,060 800 704 1,059 1,254 3,766 Deferred availability cash items 8,335 649 1,292 520 632 688 749 1,373 415 234 591 465 727 Other liabilities and accrued dividen1G 396 20 95 20 32 30 21 66 14 10 16 17 55 TOTAL LIABILITIES 77,766 4,061 19,045 4,173 5,940 5,914 4,579 12,575 2,906 1,712 3,345 3,311 10,205 CAPITAL ACCOUNTS Capital paid in 629 31 160 33 56 33 40 93 22 14 27 35 85 Surplus 629 31 160 33 56 33 40 93 22 14 27 35 85 Other capital accounts « _ _ - - _ - _. - -. - - «... . . — — — — TOTAL LIABILITIES AND CAPITAL ACCOUNTS 79,024 4,123 19,365 4,239_ __ 6,052 5,980_ 4,659 11'I61 2,950 1,740 3,399 3,381 10,375 Contingent liability on ace ept-r ances m<\ chased for foreign 109 5 3/ 28 6 10 6 7 16 4 2 5 6 14 _cor_r e s p o o de n t s FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 47,560 "2,714 11,038 2,684 3,933 4,272 2,597 8,390 1,738 790 1,754 1,715 5,935 Collateral, for F. R. notes: Gold certificate account 4,057 280 500 300 600 665 350 1,000 180 27 155 Eligible paper U. S. Government securities 44,691 2,451 10,600 2,500 3,400 3,690 _2,_300_ 7.650 __1,_6IP_. 7_7_5_ 1.775 1.630 6.250 Total collateral 48,748 2,731 11,100 2,800 4,000 4,355 2,650 8,650 1,850 802 1,775 1,785 6,250 1/ After "deducting $164 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 81 million participations of other Federal Reserve Banks, ** Tuesday Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis