H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and 'f^URES^*' Condition Statement of F.R. Banks H.4.1 For immediate release February 27, 1969 The average of daily figures of total reserves of member banks declined $518 million to $27,064 million. Required reserves declined reflecting the change in member bank deposits in mid-February. Excess reserves also declined from the relatively high level of a week ago and were slightly below the average level of recent weeks. A decline of about seasonal proportion in currency in circulation and a reduction in Treasury deposits with Federal Reserve Banks provided reserves in the latest week. An increase in other F. R. accounts (net) absorbed about $200 million of reserves. Float was about unchanged on weekly average. System Open Market opera tions absorbed about $350 million of reserves (net), on a weekly average basis. Member bank borrowings declined $285 million from the relatively high level of a week earlier, to a level of $758 million. Borrowings exceeded excess reserves by $592 million, compared to the revised figure of $694 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 26, Feb. 19, Feb. 28, Feb. 26, and related items 1969 1969 1968 1969 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 52,124 16 + 3,400 51,947 Held under repurchase agreements 97 308 + 97 Federal Agency obligations- Held under repurchase agreements 8 20 + 8 Acceptances- Bought outright 52 3 6 51 Held under repurchase agreements 52 42 + 52 Discounts and advances— Member bank borrowings 758 285 + 316 499 Other Float 2,631 +_ 12 1,075 2,531 Total Reserve Bank credit 55,722 623 + 4,943 1 55,028 Gold stock 10,367 __ - 1,516 10,367 Treasury currency outstanding 6,813 + 4 + 17 6,815 72,902 - 620 + 3,443 72,210 Currency in circulation 49,148 . 229 + 3,331 49,197 Treasury cash holdings 763 - 1 - 556 767 Treasury deposits with F. R. Banks 562 - 107 - 460 615 Foreign deposits with F. R. Banks 129 - 4 - 18 110 Other deposits with F. R. Banks 483 - 17 + 22 492 Other F. R. accounts (net) - 793 + 221 - 349 - 846 50,292 - 137 + 1,970 50,335 Member bank reserves: With Federal Reserve Banks 22,610 - 483 + 1,473 21,875 Currency and coin 4,454 - 35 - 45 4,454 Total reserves held 27,064 - 518 + 1,428 26,329 Required reserves 26,898 - 335 + 1,575 26,898 Excess reserves 166 - 183 - 147 - 569 NOTE: A net of $200 million of surplus reserves were eligible to be carried forward from the week ended February 19, into the week ending February 26. On February 26, 1969, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,426 million an increase of $66 million for the week. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CdtolttON OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Feb. 26, Feb, 19, Feb. 28, 1969 1969 1968 A S S E TS Gold certificate account 1/ 10,025 •1,359 Cash (1,029) 232 6 - 198 Discouhts and Advances 499 + 39 + 242 Acceptancest Bought outright 51 Held under repurchase agreements 105 Federal Agency obligations-- Held under repurchase agreements 21 U. S, Government securities: Bought outright-- Bills 17,681 305 4-2,028 Certificates Notes 29,926 + 79 +2,941 Bonds 4., 3.4Q. + 6 -1.807 Total bought outight 51,947 - 220 +3,162 Held under repurchase agreements -- - 139 -- Total U. S, Government securities 51..9A7. 359 +3.162 Total loans and securities 52,497 - 446 +3,399 Cash items in process of collection (1,987) 8,557 - 752 +1,195 Bank premises 113 -- + 1 Other assets 2/ 2,597 + 122 + 494 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,016) 74,02^ ^1 ^082 +3 ,532 L LIABILITIES Federal Reserve notes (1,029) 43,039 156 +2,723 Deposits: Member bank reserves 21,875 _ 204 + 765 U. S. Treasurer—general account 615 + 166 - 307 Foreign 110 - 9 - 56 Other 3/ 492 + 18 + 51. Total deposits 23,092 - 29 + 453 Deferred availability cash items (1,987) 6,026 - 952 + 174 Other liabilities and accrued dividends 394 -_ 2_ ± 99_ TOTAL LIABILITIES (3,016) 72,551 •1,139 +3,449 C A P I T AL A C C O U N TS Capital paid in 638 1 + 29 Surplus 630 + 32 Other capital accounts 202 - 56 + 22 Contingent liability on acceptances purchased for foreign correspondents 100 +2 17 * 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. SJLjLncludes IMF gold deposit. _ MMI?^I1¥JPIS1RIBJLJTI0N OF LOANS AND SECURITIES, FEBRUBARY 26, 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 Acceptances Holdings Weekly changes Within 15 days 494 17 2,598 *343 16 days to 90 days 5 34 8,437 + 41 91 days to 1 year 7,937 -140 Over 1 year to 5 years 19,008 + 33 Over 5 years to 10 years 13,350 + 23 Over 10 years 617 + 6 Total 499 51 51,947 -380 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 FEBRUARY 26, 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 10,025 542 1,896 546 851 1,035 491 1,960 306 140 509 341 1,408 F. R. notes of other banks 1,029 73 245 77 98 98 107 65 35 16 21 46 148 Other cash 232 12 23 6 28 19 29 24 25 5 17 13 31 Discounts and advances 499 39 46 12 16 60 76 123 25 20 30 26 26 Acceptances: Bought outright 51 -- 51 -- -- -- — -- -- -- -_ __ -- Held under repurchase agreements — -- -- -- -- -- -- -- -- -. __ -- -- Federal Agency obligations- Held under repurchase agreements -- U. S. Government securities: Bought outright-- Bills 17,681 908 4,572 897 1,351 1,273 935 2,908 621 343 652 719 2,502 Certificates t -- -- -- -- -- -- — -- -- -- --. m. -. Notes 129,926 1 ,537 7,737 1 ,519 2,288 2,155 1, 583 4,921 1 ,050 581 1,103 1 ,217 4,235 Bonds 4,340 223 1,122 220 332 313 229 714 152 84 160 177 614 Total bought outright 51,947 2 ,668 13,431 2 ,636 3,971 3,741 2, 747 8,543 1 ,823 1, 008 1,915 2 ,113 7,351 Held under repurchase agreements „ ' -- -- -- -- -- -- -- -- _• -- - - • . Total U. S. Government securities 51,947 2 ,668 13,431 2 ,636 3,971 3,741 2 ,747 8,543 1 ,823 1 ,008 1.915 2 ,113 7.351 Total loans and securities 52,497 2 ,707 13,528 2 ,648 3,987 3,801 2 ,823 8,666 1 ,848 1 ,028 1,945 2 ,139 7,377 Cash items in process of collection 10,544 518 2,098 549 736 785 947 1,713 524 375 757 665 877 Bank premises 113 3 10 2 5 10 18 17 8 3 19 9 9 Other assets 1/ 2,597 114 833 126 209 131 147 351 83 54 100 130 319 TOTAL ASSETS 77,037 3 ,969 18,633 3 ,954 5,914 5,879 4 ,562 12,796 2,8 29 1 ,621 3,368 3 ,343 10,169 !_/ 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 26, 1969 New Phila Cleve Rich St. Minne Kansas San Total I Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 44,068 2,591 10,229 2,512 3,600 4,033 2,331 7,853 1,629 752 1,628 1,519 5,391 Deposits: Member bank reserves 21,875 938 5,605 908 1,516 1,071 1,311 3,266 733 507 1,017 1,236 3,767 U. S. Treasurer--general account 615 •.. 1 607 1 *1 1 1 1 2 Foreign 110 5 1/ 28 6 10 6 7 16 4 2 5 6 15 Other 492 2/453 1 8 1 2 * 3 2 1 21 Total deposits 23,092 944 6,693 915 1,527 1,085 1,320 3,285 737 512 1,025 1,244 3,805 Deferred availability cash items 8,013 343 1,224 432 626 653 799 1,373 399 316 639 485 724 Other liabilities and accnl ed dividends 394 19 114 19 29 28 20 63 13 8 14 15 52 TOTAL LIABILITIES 75,567 3,897 18,260 3,878 5,782 5,799 4,470 12,574 2,778 1,588 3,306 3,263 9,972 CAPITAL ACCOUNTS 31 1 Capital paid in 638 161 33 59 33 41 95 22 15 28 36 84 Surplus ! 630 160 33 56 33 40 93 22 14 27 36 85 | 31 Other capital accounts 202 52 10 17 14 11 34 7 4 7 8 28 10 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 77,037 3,969 18,633 3.954 5,914 5.879 4,562 12,796 2,829 1,621 3,368 3,343 10,169 Contingent liability on ac<: eptances purchased for fore]Lg n correspondents 100 5 3/ 25 5 9 5 6 15 4_ 2 4 6 14 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 46,412 2,680 10,787 2,594 3,857 4,195 2,519 8,179 1,699 781 1,698 1,671 5,752 Collateral for F. R. notes Gold certificate account 3,522 200 500 300 560 600 -- 1,000 180 27 155 Eligible paper U. S. Government securities 45.091 2.531 10.600 2.500 3.400 3.649 2,650 7,650 1.671 785 1,775 1.630 6.250 Total collateral 48,613 2,731 11,100 2,800 3,960 4,249 2,650 8,650 1,851 812 1,775 1,785 6,250 JL/A After deducting $82 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