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 February 6, 1969 The average of daily figures of total reserves of member banks declined $180 million to $27,386 million. Required reserves declined $202 million, reflect ing the reduction in private deposits at member banks two weeks earlier, Excess reserves remained about unchanged while member bank borrowings declined. Only moderate changes occurred in factors affecting reserves in the latest statement week. Float declined seasonally and other F. R. accounts (net) increased, absorbing reserves. Reserves were provided through S stem Open Market operations, a decline in currency in circulation of about seasonal proportion, and reductions in Treasury deposits with Federal Reserve Banks. Member bank borrowings declined to a level of $747 million, near the average level of recent weeks. Borrowings exceeded excess reserves by $568 million, compared to the revised figure of $735 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 5, Jan. 29 Feb. 7, Feb. 5, and related items 1969 1969 1968 1969 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright — System account 52,053 + 69 + 3,128 52,001 Held under repurchase agreements 8 + 8 406 58 Federal Agency obligations- Held under repurchase agreements Acceptances- Bought outright 50 13 49 Held under .repurchase agreements Discounts and advances — Member bank borrowings 747 - 145 506 1,154 Other Float 2,487 - 56 + 1,036 2,153 Total Reserve Bank credit 55,345 - 123 + 4,246 55,418 Gold stock 10,367 -_ - 1,587 10,367 Treasury currency outstanding 6,806 + 3 + 18 6,804 72,518 - 121 + 2,678 72,589 Currency in circulation 49,061 - 92 + 3,284 49,209 Treasury cash holdings 766 + 5 - 595 768 Treasury deposits with F. R. Banks 490 - 225 - 422 414 Forgien deposits with F. R. Banks 129 - 3 - 13 119 Other deposits with F. R. Banks 502 + 25 + 52 481 Other F. R. accounts (net) - 993 + 136 - 439 | -1,004 49,954 - 156 + 1,867 49,987 Member bank reserves: With Federal Reserve Banks 22,564 + 35 + 812 22,602 Currency and coin 4,822 - 215 + 653 ! 4,822 Total reserves held 27,386 - 180 + 1,465 1 27,424 Required reserves 27,207 - 202 + 1,661 27,207 Excess reserves 179 + 22 - 196 1 217 NOTE: A net of $76 million of surplus reserves were eligible to be carried forward from the week ended January 29, into the week ending February 5. On February 5, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,945 million, a decrease of $9 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 Change since Feb. 5, Jan. 29, Feb. 7, 1969 1969 1968 A S S E TS Gold certificate account 1/ 10,025 -1,359 Cash (1,203) 235 + 7 - 181 Discounts and Advances 1,154 + 228 + 918 Acceptances: Bought outright 49 14 Held under repurchase agreements Federal Agency obligations-- Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 17,820 324 +1,977 Certificates Notes 28,706 +1,754 Bonds 5.475 _ii - 655 Total bought outright 52,001 324 +3,076 Held under repurchase agreements 58 58 - 339 Total U. S. Government securities 52,0.51 - 266 +2.737 Total loans and securities 53,265 36 +3,639 Cash items in process of collection (2,082) 8,762 + 125 +1,578 Bank premises 113 1 + 1 Other assets 2/ 2.803 r 4J. + 582 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,285) 75,203 52 +4,260 L I A B I L I T I ES Federal Reserve notes (1,203) 43,066 75 +2,651 Deposits: Member bank reserves 22,602 - 300 +1,362 U. S. Treasurer--general account 414 84 - 605 Foreign 119 5 29 Other 3/ (1) 481 + 8 + 44 Total deposits (1) 23,616 - 381 + 772 Deferred availability cash items (2,081) 6,609 + 283 + 688 Other liabilities and accrued dividends 379 + 21 + 57 TOTAL LIABILITIES (3,285) 73,670 +4,168 C A P I T AL A C C O U N TS Capital paid in 635 2 + 28 Surplus 630 + 32 Other capital accounts 268 52 + 32 Contingent liability on acceptances purchased for foreign correspondents 100 5 - 31 * 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." 2/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 5, 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 1,149 9 11,030 +6,268 16 days to 90 days 5 40 8,550 -8,285 91 days to 1 year „ «- 8,048 - 246 Over 1 year to 5 years -- -- 12,880 -- Over 5 years to 10 years -- -- 10,943 -- Over 10 years _- „ 611 --. Total 1,154 49 52,062 263 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, FEBRUARY 5, 1969 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS | Gold certificate account 10,025 628 1,556 618 879 1,009 503 1,855 268 190 327 314 1,878 F. R. notes of other banks I 1,203 106 256 79 113 117 134 80 41 22 27 66 162 Other cash ' 235 12 23 7 28 19 28 28 25 5 17 14 29 Discounts and advances 1,154 95 497 33 18 22 17 153 102 16 76 21 104 Acceptances: Bought outright 49 -- 49 -- -- -- -- -- -- — -- -- -- Held under repurchase agreements -- -- -- -- -- Federal Agency obligations-- Held under repurchase agreements 3 U. S. Government securities: Bought outright-- Bills 17,820 915 4,608 904 1,363 1,284 942 2,930 626 346 657 724 2,521 Certificates -- -- -- -- -- -- -- -- -- -- -- -- Notes 28,706 1 ,475 7,422 1,457 2,194 2,067 1 ,518 4,721 1 ,007 557 1,058 1,168 4,062 Bonds 5,475 281 1,415 278 419 394 290 900 192 106 202 223 775 Total bought outright 52,001 ! 2, 671 13,445 2,639 3,976 3,745 2 ,750 8,551 1 ,825 1 ,009 1,917 2,115 7,358 Held under repurchase agreements 58 -- 58 -- -- -- -- -- -- -- -_ Total U. S. Government securities 52,059 2 ,671 13,503 2,639 3,976 3,745 2 ,750 8,551 1 ,825 -J.0 09___ U9JJ_ 2,115 7,358 s Total loans and securities 53,265 2 ,766 14,052 2,672 3,994 3,767 2 ,767 8,704 1 ,927 1 ,025 1,993 2,136 7,462 Cash items in process of collection 10,844 673 2,048 599 773 894 987 1,699 547 391 731 592 910 Bank premises 113 3 10 2 5 10 18 17 8 3 19 9 9 Other assets 1/ j 2,803 L_ 126 886 135 221 147 156 395 90 58 106 135 348 4 1 TOTAL ASSETS 78,488 ,314 18,831 4,112 6,013 5,963 4 ,593 12,778 2 ,906 1 ,694 3,220 3,266 10,798 1/ 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 FEBRUARY 5, 1969 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chi. cago Lotiis apolis City Dsi llas Fran cisco (In millions of dollars ) L I A B I L I T I ES Federal Reserve notes 44 ,269 2,5 79 10,246 2,531 3,6 10 4,046 2,3 48 7.8 95 1,636 752 1,632 1 ,521 5 ,473 Deposits: Member bank reserves 22 ,602 1,0 00 6,066 980 1 563 1,024 1,2 86 3 ,132 790 578 912 1 160 4. 111 U. S. Treasurer — general account 414 1 244 1 1 1 1 1 164 Foreign 119 5 1/ 36 6 10 6 7 16 4 3 5 6 15 Other 482 2/420 9 9 2 10 6 2 2 3 19 Total deposits 23 ,617 1 ,006 6,766 996 1 ,574 1,040 1 =2 95 3 158 800 583 920 1 170 4 ,309 Deferred availability cash items 8 ,690 634 1,331 487 664 764 835 1 ,431 404 318 589 477 756 Other liabilities and accrtl ed dividends 379 19 101 18 29 28 20 62 13 7 15 15 52 TOTAL LIABILITIES 76 ,955 4 ,238 18,444 4,032 5 ,877 5,878 4.4 98 12 ,546 2,853 1 ,660 3,156 3 ,183 10 ,590 CAPITAL ACCOUNTS Capital paid in 635 31 161 33 58 33 41 94 22 15 27 36 84 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 268 14 66 14 22 19 14 45 9 5 10 11 39 TOTAL LIABILITIES AND CAPITAL ACCOUNTS •78, 488 4 ,314 18,831 4,112 6 ,013 5,963 4 ,593 12 ,778 2,906 1 ,694 3,220 3 ,266 10 ,798 Contingent liability on ace: eptances purchased for forej-g n correspondents 100 5 3_/ 25 5 9 5 6 15 4 2 4 6 14 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 10,870 2,620 3,882 4,216 2,535 8,253 1,702 784 1,711 1,686 5,826 Collateral for F. R. notes: Gold certificate account 500 300 560 585 -- 1,000 180 27 -- 155 Eligible paper U. S. Government securities 10,600 2,500 3,400 3,649 2,650 7,650 1,670 785 1,775 1,630 6,250 Total collateral 2,731 11,100 2,800 3,960 4,234 2,650 8,650 1,850 812 1,775 1,785 6,250 1/ After deducting $ 83 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000, 3/ After deducting $ 75 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis