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 ^TRT^*" Condition Statement of F.R. Banks H.4.1 For immediate release January 9, 1969 The average of daily figures of total reserves of member banks declined $367 million to $27,928 million. Required reserves increased $361 million, and excess reserves declined sharply from the unusually high level of the previous week. About 300 million of surplus reserves were eligible to be carried forward into the latest statement week. Float was the only factor absorbing a sizable amount of reserves in the latest period. The decline in float-was about seasonal, while the level of float still remains somewhat higher than is usual for this time of year. Currency in circulation declined $473 million, about seasonal, supplying a like amount of reserves. System open market operations provided reserves, on a weekly average basis, although some matched sale-purchase transactions were made near the end of the period. Member bank borrowings declined to a level of $499 million, and exceeded excess reserves by $365 million, compared with the revised figure of $456 million the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan.. 8, Jan. 1, Jan. 10, Jan. 8, and related items 1969 1969 1968 1969 (In millions of dollars) Reserve Bank credit: U. S. Government securities— 1/ Bought outright--System account 53,142 398 +4,033 52,722 Held under repurchase agreements 172 54 + 98 Federal Agency obligations— Held under repurchase agreements 16 + 16 Acceptances- Bought outright 57 + 2 17 57 Held under repurchase agreements 29 + 1 + 29 Discounts and advances- Member bank borrowings 499 819 + 319 180 Other Float 3,346 375 +1 ,012 2,928 Total Reserve Bank credit 57,261 842 +5 ,489 55,887 Gold stock 10,367 -1, 616 10,367 Treasury currency outstanding 6,801 13 + 20 6,799 74, 430 854 +3 ,894 73 ,053 Currency in circulation 50, 472 473 +3 ,615 50 ,340 Treasury cash holdings 763 6 622 765 Treasury deposits with F. R. Banks 579 475 762 Foreign deposits with F. R. Banks 217 2 56 216 Other deposits with F. R. Banks 490 70 3 469 Other F. R. accounts (net) -1, 201 53 522 ,184 51,322 585 +2,051 51,368 Member bank reserves: With Federal Reserve Banks 23,109 268 +1,844 21,686 Currency and coin 4,819 99 + 173 4,819 Total reserves held 27,928 - 367 +2,017 26,505 Required reserves 27,794 + 361 +2,447 1 27,794 Excess reserves 134 - 728 - 430 1 -1,289 NOTE: A net of $298 million of surplus reserves were eligible to be carried forward from the week ended January 1, into the week ending January 8. \J Reflects $550 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. On January 8, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,434 million, a decrease of $686 million for the week. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITI ON OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Jan 8, Tuesday Wednesday 1969 12/31/68 1/10/68 A S S E TS Gold certificate account \J 10,025 1 -1,452 Cash (972) 203 4 - 167 180 8 + 110 Discounts and advances Acceptances: Bought outright 57 16 Held under repurchase agreements Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 18,541 215 +3,031 Certificates Notes 28,706 +1,788 Bonds 5,475 :i_612. Total bought outright 2/ 52,722 215 +4,207 Held under repurchase agreements Total U. S. Government securities 52,722 215 +4,207 Total loans and securities 52,959 224 +4,301 Cash items in process of collection (2,011) 9,623 206 +1,817 Bank premises 112 1 Other assets 3/ 2.791 103 672 (2,983) 75.713 127 +5,171 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS L I A B I L I T I E S; (972) 44,166 560 +2,929 Federal Reserve notes Deposits: 21,686 87 +1,946 Member bank reserves 762 + 59 - 709 U. S. Treasurer — general account 216 __ + 51 Foreign (3) 469 - 278 16 Other 4/ (3) 23,133 - 306 +1,272 Total deposits (2,008) 6,695 + 675 + 817 Deferred availability cash items 399 + 4 + 93 Other liabilities and accrued dividends (2,983) 74,393 187 +5,111 TOTAL LIABILITIES C A P I T AL A C C O U N TS Capital paid in 628 + 26 Surplus 630 + 32 Other capital accounts 62 62 + 2 Contingent liability on acceptances purchased for foreign correspondents 111 + 2 53 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes amount of gold certificates previously included in "Redemption fund for F. R. notes.!f 2/ Reflects $550 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes assets denominated in foreign currencies and IMF gold deposited. 4/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 8, 1969 (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 Acc eptances Holdings Weekly changes Within 15 days 175 15 1,570 -447 16 days to 90 days 5 42 17,738 +171 91 days to 1 year -_ -« 8,980 + 61 Over 1 year to 5 years -- -- 12,880 -- Over 5 years to 10 years -- «_ 10,943 -- Over 10 years -- -» 611 _— Total 180 57 52,722 -215 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, JANUARY 8, 1969 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 10,025 313 3,359 558 722 846 380 1,842 271 127 298 280 1,029 F. R. notes of other banks 972 83 192 58 83 102 99 70 40 20 29 55 141 Other cash 203 11 20 6 25 15 26 25 24 3 16 10 22 Discounts and advances 180 63 21 3 17 5 29 21 4 6 3 8 -- Acceptances: Bought outright 57 -- 57 -- - " • " - • . — ~ "• « •» " — •" • - - Held under repurchase agreements — -- • - -- - - — • - - - — - "• - -. -" ~ — - - Federal Agency obligations-- Held under repurchase agreements — U. S. Government securities: Bought outright-- Bills 18,541 967 4,444 984 1,462 1,394 1,029 3,047 654 358 718 789 2,695 Certificates -- -- __ -- -- -- -- -- -r -- -- -- -- 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 52,722 2,750 12,636 2,799 4,158 3,962 2,925 8,663 ~T ,861 T ,018 ~2 ,042 T 7254~~ 7,664 Held under repurchase agreements " -- -- -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities 52,722 2,750 12,636 2,799 4,158 3,962 2,925 8,663 T r86i~~ T, 018 —j ,042 ~Z r24T" 7,664 Total loans and securities 52,959 2,813 12,714 2,802 4,175 3,967 2,954 8,684 1 ,865 1, 024 2 ,045 2 ,252 7,664 Cash items in process of collection 11,634 697 2,215 657 745 858 1,042 1,893 630 445 796 646 1,010 Bank premises 1 112 i 2 10 2 5 10 18 17 8 3 19 9 9 Other assets J7 2,791 127 879 136 225 147 157 380 91 59 110 138 342 TOTAL ASSETS 78,696 4,046 19,389 4,219 5,980 5,945 4,676 12,911 2 ,929 1, 681 3 ,313 3 ,390 10,217 17 Includes assets denominated in foreign currencies and IMF gold deposited. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OF JANUARY 8, 1969 ]1 Cleve Rich St. Minne Kansas San Total Boston New Phila land mond Atlanta Chicago Louis apolis City Dallas Fran York delphia cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 45,138 2 ? 616 10,428 2,588 3,680 4,108 2,426 8,022 1,665 762 1,663 1,565 5,615 Deposits: Member bank reserves 21,686 712 6,140 1,001 1,487 1,026 1,259 3,175 731 534 960 1,223 3,438 U. S. Treasurer—general account 762 1 755 * * 1 1 * 1 >v 1 * 2 Foreign 216 11 1/ 52 12 20 11 14 32 7 5 10 13 29 Other 472 •>v 2/433 2 1 6 1 3 1 1 2 1 21 Total deposits 23,136 724 7,380 1,015 1,508 1,044 1,275 3,210 740 540 973 1,237 3,490 Deferred availability cash items 8,703 622 1,149 527 644 694 870 1,418 464 339 606 497 873 Other liabilities and accn led dividends 399 20 97 20 31 29 21 65 14 10 15 16 61 TOTAL LIABILITIES 77,376 3,982 19,054 4,150 5,863 5,875 4,592 12,715 2,883 1,651 3,257 3,315 10,039 CAPITAL ACCOUNTS Capital paid in 628 30 160 33 56 33 40 93 22 14 27 36 84 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 62 3 15 3 5 4 4 10 2 2 2 3 9 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 78,696 4,046 J-i_il89_ 4,219 _5,980 5,945 _4,676__ 12,911 _2_, 929 _ 1,681 3,_313_ 3,390 10,217 Contingent liability on ace: eptances purchased for forea. gn correspondents 111 5 3/ 28 6 10 6 7 _16 4 3_ 5_ 6 15 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,704 11,002 2,671 3,924 4,268 2,583 8,372 1,736 797 1,750 1,710 5,922 Collateral for F. R. notes: Gold certificate account 200 500 300 600 665 350 1,000 180 27 155 Eligible paper U. S. Government securities 2,531 10,600 2,500 3,400 3,690 2,300 7,650 1,670 785 1,775 1,630 6,250 Total collateral 2,731 11,100 2,800 4,000 4,355 2,650 8,650 1,850 812 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. Digitized3 fo/r FRAAfSEtRe r deducting $ 83 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis