H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.-ssSSfe-. F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.1 **"* Fa? immediate release January 23, 1969 The average of daily figures for total reserves of member banks declined $255 million (net) to $28,285 million. Required reserves declined $257 million, while excess reserves remained about unchanged from the level of the previous week. A decline of about seasonal proportions in currency in circulation, which provided reserves, was the only factor having a major effect on reserves in the latest statement week. System Open Market operations absorbed $484 million of reserves, primarily through matched sale-purchase transactions. Member bank borrowings rose moderately, and borrowings exceeded excess reserves by $572 million, compared with the revised figure of $482 million the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 22, Jan. 15,Jan. 24, Jan. 22, and related items 1969 1969 1968 1969 (In millions of dollars) Reserve Bank credit: U. S. Government securities-<- Bought outright--System account 52,487 - 480 +3,382 52,484 Held under repurchase agreements Federal Agency obligations-- Held under repurchase agreements Acceptances- Bought outright 51 17 50 Held under repurchase agreements 55 Discounts and advances- Member bank borrowings 780 + 92 547 861 Other Float 3,069 11 +1 ,343 2,563 Total Reserve Bank credit 56, 388 380 +5 ,202 55,958 Gold stock 10, 367 -1, 615 10,367 Treasury currency outstanding 6 ,801 + 17 6,804 73, 556 - 379 +3,603 73,129 Currency in circulation 49, 537 - 486 +3,420 49,406 Treasury cash holdings 763 + 1 - 627 768 Treasury deposits with F. R. Banks 545 - 18 - 394 337 Foreign deposits with F. R. Banks 201 - 15 + 52 196 Other deposits with F. R. Banks 485 2 + 14 496 Other F. R. accounts (net) -i, 232 - 76 - 773 -1,222 Member bank reserves: 50, 299 - 596 +1, 692 49,981 With Federal Reserve Banks 23, 257 + 216 +1, 911 23,148 Currency and coin 5 ,028 - 471 + 452 5,028 Total reserves held 28,285 - 255 +2,363 28,176 Required reserves 28,077 - 257 +2,531 28,077 Excess reserves 208 + 2 - 168 99 NOTE: A net of $69 million of surplus reserves were eligible to be carriedf orward from the week ended January 15, into the week ending January 22. On January 22, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,924 million, a decrease of $210 million for the week. Digitized for FRASER 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 CIla nge since Jan. 22, Jan. 15, Jan. 24, 1969 1969 1968 A S S E TS Gold certificate account If 10,025 -- -1,442 Cash (1,227) 225 + 11 - 178 Discounts and advances 861 - 96 + 553 Acceptances: Bought outright 50 3 18 Held under repurchase agreements -- -- 47 Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright— Bills 18,303 + 297 +2,340 Certificates Notes 28,706 +1,754 Bonds 5,475 - 655 Total bought outright 52,484 + 297 +3,439 Held under repurchase agreements Total U. S. Government securities 52,484 + 297 +3,439 L Total loans and securities 53,395 + 198 +3,927 Cash items in process of collection (2,056) 9,523 - 957 +1,978 Bank premises 113 -- + 1 Other assets 2/ .2*211. +_ 4? + 924 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,283) 76,192 - 706 +5,210 H A H L I T I ES Federal Reserve notes (1,227) 43,253 451 +2,750 Deposits: Member bank reserves 23,148 + 722 +2,104 U. S. Treasurer—general account 337 - 276 - 671 Foreign (*) 196 34 + 36 Other 3/ 496 15 + 34 Total deposits (*) 24,177 + 397 +1,503 Deferred availability cash items 2,056) 6,960 - 692 + 803 Other liabilities and accrued dividends 375 12_ + 78. z TOTAL LIABILITIES (3,283) 74,765 758 +5,134 C A P I T AL A C C O U N TS Capital paid in 633 -- + 27 Surplus 630 — + 32 Other capital accounts 164 52 + 17 Contingent liability on acceptances purchased for foreign correspondents 107 1 - 43 * 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.11 y Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 22. 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 859 11 2,664 +1,237 16 days to 90 days 2 39 16,958 - 533 91 days to 1 year -- -- 8,428 - 407 Over 1 year to 5 years -- 12,880 -- Over 5 years to 10 years trs -- 10,943 -- Over 10 years -- -- 611 -- Total 861 50 52,484 297 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 22, 1969 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In nri. llions of dollars) A S S E TS Gold certificate account 10,025 561 3,234 459 856 747 411 1,844 303 167 277 247 919 F. R. notes of other banks 1,227 112 245 81 104 129 129 82 50 24 27 67 177 Other cash 225 12 22 7 27 19 26 27 25 4 18 12 26 Discounts and advances 861 40 98 97 16 81 9 236 25 8 66 69 116 Acceptances: Bought outright 50 -- 50 -- -- -- -- -- -- -- -- -- -- Held -under repurchase agreements Federal Agency obligations— Held under repurchase agreements -- U. S- Government securities: Bought outright-- Bills 18,303 955 4,387 971 1,443 1,376 1,015 3,008 646 354 709 779 2,660 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 1 5,475 285 1,312 291 432 411 304 899 194; 106 212 233 796 Total bought outright 1 52,484 I 2 ,738 12,579 2,786 4,139 3,944 2,911 8,624 1,853 1 ,014 2 ,033 •"2, "2 34 7,629 Held under repurchase agreements -- -- -- -- -- -- -- -- - - Total U. S. Government securities I 52,484 1 2 ,738 12,579 2,786 4,139 3,944 2,911 8,624 1,853 1 ,014 2 ,033 2 ,234 7,629 Total loans and securities ! 53,395 2 ,778 12,727 2,883 4,155 4,025 2,920 8,860 1,878 1 ,022 2 ,099 2 ,303 7,745 Cash items in process of collection 1 11,579 734 2,003 740 825 893 1,107 1,873 558 421 765 635 1,025 Bank premises 113 3 10 2 5 10 18 17 8 3 19 9 9 Other assets 1/ 1 2,911 132 904 140 233 155 166 404 94 ,59 114 144 366 TOTAL ASSETS 79,475 4 ,332 19,145 4,312 6,205 5,978 4,777 13,107 2,916 1 ,700 3 ,319 3 ,417 10,267 J7 Includes assets denominated in foreign currencies and IMF gold deposited. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 22, 1969 New Phi la- Cleve Rich St. Minne Kansas San Tot al Boston York delphia land mond Atlanta Chic ago Louis apolis City Dallas Fran cisco (In millions of dollars) L I A B I L I TI E S r' - .Federal Reserve notes 44 ,480 2,5 80 10,288 2, 553 3,636 4,052 2, 366 7,9 34 1,647 756 1,633 1,534 5 501 Deposits: Member bank, reserves 23 ,148 972 6,264 1,0 49 1,685 1,057 1,3 69 3,4 41 803 566 1,035 1,276 3 ,631 U. S. Treasurer--general account 337 1 330 * * 1 1 1 #v * •* 1 2 Foreign 196 10 1/ 47 10 18 10 13 30 7 4 9 11 27 Other 496 «*. 2/434 2 1 10 2 2 1 3 3 1 37 Total deposits 24 ,177 1 983 7,075 1 =0 61 1,704 1,078 1 =3 85 3,4 74 811 573 1,047 1,289 3 ,697 Deferred availability cash items 9 ,016 680 1,333 604 708 743 917 1,4 25 396 331 565 499 815 Other liabilities and accrued dividends 375 19 89 19 30 27 20 59 13 8 14 16 61 TOTAL LIABILITIES 78 ,048 4 ,-262 18,785 4 ,237 6,078 5,900 4,6 88 12. 892 2,867 1,668 3,259 3,338 10 ,074 I CAPITAL ACCOUNTS Capital paid in 633 31 160 33 58 33 40 94 22 15 27 36 84 Surplus 630 31 1.60 .33 56 33 40 93 22 14 27 36 85 Other capital accounts 164 8 40 9 13 12 9 28 5 3 6 7 24 TOTAL LIABILITIES CAPITAL ACCOUNTS 79 ,475 _A, 332 19,145 _Jt_, 312 6^205 5,978 _4 =7 77 13 I07. __2 i ?_16_ 1,700 3,319 3,417 10 ,267 Contingent liability o n acceptances purchased for foreign 107 5 27 6 9 6 7 16 4 2 5 6 14 correspondents FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,705 10,924 2,647 3,899 4,243 2,560 8,310 1,718 792 1,731 1,703 5,880 Collateral for F. R. notes: Gold certificate account 200 500 300 600 585 1,000 180 27 155 Eligible paper 2,531 10,600 2,500 3,400 3,730 2,650 7,650 1,670 785 1,775 1,630 6,250 U. S. Government securities Total collateral 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 deductiag $149 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. Less than $500,000. 3_/ After deducting $ 80 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis