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 : $PSB^* Condition Statement of F.R. Banks H.4.1 For immediate release January 16, 1969 The average of daily figures of total reserves of member banks increased $517 million (net) to $28,480 million. Required reserves increased $573 million and excess reserves declined moderately from the level of the previous week. The major factors affecting reserves in the latest week were float and currency in circulation. A decline of about seasonal proportions in float, absorb ing reserves, was more than offset by a $449 million reduction in currency in cir culation which provided a like amount of reserves. System Open Market operations absorbed about $400 million of reserves, on a weekly average basis. Member bank borrowings rose to a level of $688 million, and borrowings exceeded excess reserves by $542 million, compared with the revised figure of $297 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 15, Jan. 8, Jan. 17, Jan. 15, and related items 1969 1969 1968 1969 (In millions of dollars) Reserve Bank credit: U. S. Government securities — 1/ Bought outright—System account 52,967 - 175 +4,267 52,187 Held under repurchase agreements - 57 Federal Agency obligations- - 172 Held under repurchase agreements Acceptances- 16 Bought outright 55 14 53 Held under repurchase agreements 2 6 Discounts and advances— - 29 Member bank borrowings 688 + 189 + 464 957 Other Float 2,998 - 392 +1,011 2,618 Total Reserve Bank credit 56,708 - 597 +5,664 55,815 Gold stock 10,367 -- -1,617 10,367 Treasury currency outstanding 6,800 - 1 + 19 6,801 73,876 - 598 +4,067 72,983 Currency in circulation 50,023 - 449 +3,530 49,865 Treasury cash holdings 762 - 1 - 635 767 Treasury deposits with F. R. Banks 563 - 16 - 456 613 Foreign deposits with F. R. Banks 216 - 1 + 60 230 Other deposits with F. R. Banks 487 - 3 + 14 511 Other F. R. accounts (net) -1,156 + 45 - 531 -1,220 Member bank reserves: 50,895 - 427 +1,982 50,766 With Federal Reserve Banks 22,981 - 172 +2,085 22,216 Currency and coin 5,499 + 689 + 824 5,499 Total reserves held 28,480 + 517 +2,909 27,715 Required reserves 28,334 + 573 +2,920 28,334 Excess reserves 146 - 56 11 - 619 NOTE: A net of $117 million of surplus reserves were eligible to be carried forward from the week ended January 8, into the week ending January 15. 1/ Reflects $690 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. On January 15, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,134 million, a decrease of $300 Digitizemdi folr lFiRoASnE Rf or the week. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Jan. 15, Jan. 8, Jan. 17, 1969 1969 1968 A S S E TS Gold certificate account 1/ 10,025 -1,445 Cash (1,110) 214 11 - 178 Discounts and advances 957 777 - 91 Acceptances: Bought outright 53 15 Held under repurchase agreements 40 Federal Agency obligations-- Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 18,006 535 +2,394 Certificates Notes 28,706 4-1,788 Bonds 5.475 -- - 612 Total bought outright 2/ 52,187 - 535 +3,570 Held under repurchase agreements - 402 Total U. S. Government securities 52,187 - 535 +3,168 Total loans and securities 53,197 + 238 +3,018 Cash items in process of collection (2,422) 10,270 + 611 +1,428 Bank premises 113 + 1 + 1 Other assets 3/ 2,869 + 78 + 851 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,532) 76.688 + 939 +3.675 L I A B I L I T I ES Federal Reserve notes (1,110) 43,704 462 +2,828 Deposits: Member bank reserves 22,216 -JL 494 + 74 U. S. Treasurer—general account 613 - 149 - 267 Foreign 230 + 14 + 86 Other 4/ (3) 511 + 42 + 24 Total deposits (3) 23,570 » 401 - 83 Deferred availability cash items (2,419) 7,652 + 957 + 775 Other liabilities and accrued dividends 387 - 12 + 85 TOTAL LIABILITIES (3,532) 75,313 + 884 +3,605 C A P I T AL A C C O U N TS .Capital paid in 633 5 + 30 Surplus 630 + 32 Other capital accounts 112 - 50 + 8 Contingent liability on acceptances purchased for foreign correspondents 108 3 - 50 * Figures in parentheses are the eliminations made in the consolidating process. \J Includes amount of gold certificates previously included in "Redemption fund for F. R. notes.11 2/ Reflects $690 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 15, 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 Wee]c ly changes Within 15 days 950 12 1,427 -143 16 days to 90 days 7 41 17,491 -247 91 days to 1 year -- -- 8,835 -145 Over 1 year to 5 years -. -- 12,880 .- Over 5 years to 10 year'Ss -- 10,943 -. Over 10 years — -- 611 -- Total 957 53 52,187 -535 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 15, 1969 San New Phila Cleve Rich St. Minne Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) A S S E TS ! Gold certificate account 10,025 544 2,868 540 715 831 266 1,802 365 195 399 444 1,056 F. R. notes of other banks 1,110 98 226 70 91 118 113 77 45 21 30 64 157 Other cash 214 12 20 6 26 17 26 25 25 4 18 12 23 Discounts and advances 957 82 204 -T 42 43 40 329 17 16 53 11 113 Acceptances: Bought outright 53 -- 53 -- -- -- -- -- -- — -- -- -- Held under repurchase agreements -- -- — -- -- — — -- — -- __ -- Federal Agency obligations-- Held under repurchase agreements -- >U. S, Government securities: Bought outright— _ . ., '^r Bills 18,006 939 4,316 956 1,420 1,354 999 2,959 635 348 697 766 2,617 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 52,187 1 2,722 12,508 2,771 4,116 3,922 2,895 8,575 1,842 1,008 2 ,021 ~T, 221 7,586 Held tmder repurchase agreements -• -- -- -- -- -- — — -- -- -- — -- Total U«. S. Government securities •52,187""" 2,722 12,508 2,771 4,116 3,922 2,895 8,575 1,842" 1,008 2 ,021 ~2 ,221 7,586 Total loans and securities [53,197 [ 2,804 12,765 2,778 4,158 3,965 2,935 8,904 1,859 1,024 2 ,074 2 ,232 7,699 Cash items in process of collection 12,692 761 2,282 717 946 990 1,221 2,002 648 472 843 667 1,143 Bank premises 113 ! 3 10 2 5 10 18 17 8 '3 19 9 9 Other assets \J 2,869 129 893 139 231 152 164 397 93 59 111 142 359 TOTAL ASSETS 180,220 4,351 19,064 4,252 6,172 6,083 4,743 13,224 3,043 1,778 3 ,494 3 ,570 10,446 17 Includes assets denominated in foreign currencies and IMF gold deposited. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 15, 1969 H.4.1(c) New Phila Cleve Rich St. Minne- Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas |Fran cisco (In mil ions of dollars) LIABILITIES. Federal Reserve notes 44,814 2,600 10,354 2,573 3,660 4,079 2,396 7,980 1,657 760 1,652 1,547 5,556 Deposits: Member bank reserves 22,216 965 5,659 967 1,533 1,064 1,226 3,356 809 587 1,063 1,342 3,645 U. S. Treasurer—general account 613 1 605 1 • 1 '•• 1 1 1 2 Foreign 230 11 1/ 66 11 20 11 14 32 8 5 9 13 30 Other 514_ 2/443 9 -1 10 3 3 1 __1 4 1 39 Total deposits 23,573 977 6,773 988 1,553 1,086 1,243 3,392 819 593 1,076 1,357 3,716 Deferred availability cash items 10,071 687 1,498 599 306 814 997 1,583 506 337 693 573 928 Other liabilities and accrued 387 20 91 20 30 30 21 63 13 7 15 16 61 dividends TOTAL LIABILITIES 78,845 4,284 18,716 4,180 6,049 6,009 4,657 13,018 2,995 1,747 3,436 3,493 10,261 CAPITAL ACCOUNTS Capital paid in 633 31 160 33 58 33 40 94 22 15 27 36 84 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 112 5 28 6 9 8 6 19 4 2 4 5 16 TOTAL LIABILITIES 30,220 4,351 19,064 4,252 6,172 6,083 4,743 13,224 3,043 1,773 3,494 3,570 10,446 CAPITAL ACCOUNTS Contingent liability on accept ances purchased for foreign correspondents 108 5 3/ 27 10 16 14 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 47,311 2,710 10,964 2,659 3,914 4,264 2,574 8,337 1,727 795 1,743 1,710 5,914 Collateral for F. R. notes: Gold certificate account 3,547 200 500 300 600 585 -- 1,000 180 27 -- 155 Eligible paper U. S. Government securities 45,171. 2.531 10.600 2,500 3,400 3J£Q 2,650 7.650 1.670 785 1.775 1.630 6.250 Total collateral 48,713 I 2,731 11,100 2,800 4,000 4,315 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. 3/ After deducting $ 81 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis