H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R A L R E S E R V E I Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release March 6, 1969 ■ The average of daily figures of total reserves of member banks declined $134 million to $26,940 million. Required reserves declined reflecting reductions . in member bank demand deposits in mid-February. Excess reserves also declined slightly and remained below the average level of recent weeks. Treasury deposits with Federal Reserve Banks declined slightly in the latest week, the only significant factor providing reserves. A seasonal decline in float as well as an increase in other F. R. accounts (net) were the principal I factors absorbing reserves in the latest X'/eek. Currency in circulation increased slightly, but somexvhat less than seasonally. System Open Market Operations absorbed about $100 million of reserves on a xveekly avetraaeu ha MTV, MObcr bank borrox^ings > remained near recent average levels, declining "blightly; ;$^4 million. Borrox*ings exceeded excess reserves by $577 million^^-twh^Vr^cf to the revised figure of $582 million for the previous x*eek. ^ ^ ! MKR 10 '3o9 i Averages of daily. JLi-gur^rs Member bank reserves, Week •vnd’g^T'"Change from week ended Wednesday, Reserve Bank credit, Mar. 5, Feb. 26, Mar. 6, Mar. 5, and related items 1969 1969 1968 1969 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 52,055 - 69 + 3,036 52,076 Held under repurchase agreements 103 + 6 + 54 -- Federal Agency obligations-- Held under repurchase agreements 10 + 2 + 1 -- Acceptances-- Bought outright 51 - 1 - 6 51 Held under repurchase agreements 17 - 35 + 17 -- Discounts and advances-- Member bank borrox^ngs 734 - 24 + 234 745 Other -- -- _ 1 — Float 2,498 - 143 + 769 2,584 Total Reserve Bank credit 55,468 - 264 + 4,105 55,456 Gold stock 10,367 -- - 1,516 10,367 Treasury currency outstanding 6,813 -- + 16 6,815 72,648 - 264 + 2,606 72,638 Currency in circulation 49,157 + 9 + 3,320 49,370 Treasury cash holdings 758 - 5 - 537 742 Treasury deposits with F. R. Banks 531 - 31 - 461 355 Foreign deposits with F. R. Banks 125 - 4 _ 27 149 Other deposits with F. R. Banks 481 - 2 - 8 498 Other F. R. accounts (net) - 718 + 75 300 - 730 - 50,334 + 42 + 1,987 50,384 Member bank reserves: With Federal Reserve Banks 22,314 - 306 + 619 * 22,254 ■i Currency and coin 4,626 + 172 + 524 4,626 Total reserves held 26,940 - 134 + 1,143 26,880 Required reserves 26,783 - 115 + 1,302 26,783 V Excess reserves 157 - 19 - 159 97 NOTE: A net of $145 million of surplus reserves were eligible to be carried forxvard from the xveek ended February 26, into the x;eek ending March 5. On March 5, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account x;ere $8,017 million, a decrease of $409 million for the x;eek. 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 March 5, Feb. 26, March 6, 1969 1969 1968 A S S E T S Gold certificate account 1/ 10,025 -- -1,359 Cash ( 925) 230 2 - 210 Discounts and advances 745 + 246 79 Acceptances: . Bought outright 51 -- 5 Held under repurchase agreements -- -- -- Federal Agency obligations-- • Held under repurchase agreements -- -- 30 U. S. Government securities: Bought outright-- Bills 17,810 4- 129 +1,990 Certificates -- -- -- Notes 29,926 -- +2,854 Bonds 4,340 -- -1,840 Total bought outright 52,076 + 129 +3,004 Held under repurchase agreements -- -- - 149 Total U. S. Government securities 52,076 + 129 +2,855 Total loans and securities 52,872 + 375 +2,741 Cash items in process of collection (2,165) 9,389 + 796 +1,970 Bank premises 114 + 1 + 2 Other assets 2/ 2,561 36 + 505 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,090) 75,191 +1,134 +3,649 L I A B I L I T I E S Federal Reserve notes ( 925) 43,185 + 146 +2,646 Deposits: Member bank reserves 22,254 + 343 + 387 U. S. Treasurer--general account 355 - 260 - 463 Foreign 149 + 39 12 Other 3/ 498 + 6 + 10 Total deposits 23,256 + 128 78 Deferred availability cash items (2,165) 6,805 + 779 + 883 Other liabilities and accrued dividends 422 + 28 + 104 TOTAL LIABILITIES (3,090) 73,668 +1,081 +3,555 C A P I T A L A C C O U N T S Capital paid in 637 1 + 28 Surplus 630 — + 32 Other capital accounts 256 + 54 + 34 Contingent liability on acceptances purchased — for foreign correspondents 99 1 13 * 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. 1 / Includes IMF gold deposit._________________________________________ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 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 Acceptances Holdings Weekly changes Within 15 days 739 18 2,139 -459 16 days to 90 days 6 33 8,933 +496 91 days to 1 year — -- 8,029 + 92 Over 1 year to 5 years — — 19,008 - - °ver 5 years to 10 years -- -- 13,350 -- Over 10 years -- — 617 - - Total 745 51 52,076 +129 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 MARCH 5, 1969 New Phila­ Cleve­ Rich­ St. Minne­ Kansas San Total Boston Atlanta Chicago Dallas Fran­ • York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E T S Gold certificate account 10,025 486 1,549 585 910 928 586 1,870 436 83 389 379 1,824 F. R. notes of other banks 925 68 237 74 89 83 108 53 25 14 19 44 111 Other cash 230 10 23 6 28 20 29 24 25 5 17 13 30 Discounts and advances 745 55 242 9 12 39 64 176 30 38 29 45 6 Acceptances: Bought outright 51 — 51 - - -- — - - -- -- -- -- -- -- Held under repurchase agreements -- - - - - - - - - — — Federal Agency obligations-- Held under repurchase agreements _ _ . - _ _ — _ _ _ _ -- -- -- -- -- U. S. Government securities: Bought outright-- Bills 17,810 916 4,558 908 1,367 1,312 924 2,976 588 350 675 725 2,511 Certi ficates -- -- -- -- -- - - -- - - "• ■» •" - - -- Notes 29,926 1,538 7,658 1,526 2,298 2,205 1,553 5,000 988 588 1,136 1,217 4,219 Bonds 4,340 223 1,111 221 333 320 225 725 143 85 165 177 612 Total bought outright 52,076 2,677 13,327 2,655 3,998 3,837 2,702 8,701 1,719 1,023 1,976 2,119 7,342 Held under repurchase agreements -- -- -- -- — — - - • * - - - - -- -- Total U. S. Government securities 52,076 2,677 13,327 2,655 3,998 3,837 2,702 8,701 1,719 1,023 1,976 2,119 7,342 Total loans and securities 52,872 2,732 13,620 2,664 4,010 3,876 2,766 8,877 1,749 1,061 2,005 2,164 7,348 Cash items in process of collection 11,554 787 2,192 605 799 922 986 1,839 592 430 797 583 1,022 Bank premises 114 3 10 2 5 10 18 17 8 4 19 9 9 Other assets 1/ 2,561 112 823 125 203 130 144 350 81 53 99 126 315 TOTAL ASSETS 78,281 4,198 18,454 4,061 6,044 5,969 4,637 13,030 2,916 1,650 3,345 3,318 10,659 1/ 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 ON MARCH 5, 1969 New Phila­ Cleve­ Rich­ St. Minne­ Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran­ cisco (In millions of do' Liars) L I A B I L I T I E S Federal Reserve notes 44,110 2,586 10,216 2,510 3,603 4,040 2,338 7,862 1,635 753 1,638 1,519 5,410 Deposits: Member bank reserves 22,254 880 5,518 S58 1,587 1,051 1,338 3,345 775 487 987 1,231 4,097 U. S. Treasurer-general account 355 * 348 1 * 1 1 • 1 * * * 1 2 Foreign 149 7 1/ 45 7 12 7 9 21 5 3 6 8 19 Other 498 1 2/458 1 * 12 1 3 1 2 2 1 16 Total deposits 23,256 888 6,369 967 1,599 1,071 1,349 3,370 781 492 995 1,241 4,134 Deferred availability cash items 8,970 630 1,359 485 676 745 835 1,500 433 362 632 460 853 Other liabilities and accrued dividends 422 20 122 20 31 29 21 67 14 9 16 16 57 TOTAL LIABILITIES 76,758 4,124 18,066 3,982 5,909 5,885 4,543 12,799 2,863 1,616 3,281 3,236 10,454 CAPITAL ACCOUNTS Capital paid in 637 30 161 33 59 33 41 95 22 15 28 36 84 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 256 13 67 13 20 18 13 43 9 5 9 10 36 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 78,281 4,198 18,454 4,061 6,044 5,969 4,637 13,030 2,916 1,650 3,345 3,318 10,659 Contingent liability on accept­ ances purchased for foreign correspondents 99 5 3/ 25 5 9 5 6 15 4 2 4 6 13 FEDERAL RESERVE /GENTS' ACCOUNTS F. R. notes outstanding 46,328 2,666 10,804 2,588 3,846 4,182 2,512 8,150 1,697 779 1,704 1,670 5,730 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 45,040 2,531 10,600 2,500 3,400 3,649 2,600 7,650 1,670 785 1,775 1,630 6,250 Total collateral 48,562 ^ 2,731 11,100 2,800 3,960 4,249 2,600 8,650 1,850 812 1,775 1,785 6,250 If After deducting $104 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less chan $500,000. 3/ After deducting $ 74 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis