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 For immediate release March 13, 1969 The average of daily figures of total reserves of member banks decreased $220 million (net) to $26,730 million. Required reserves declined reflecting re ductions in member bank demand deposits in late February. Excess reserves rose moderately but remained slightly below the average level of recent weeks. i A decline in Treasury deposits with Federal Reserve Banks provided a moderate amount of reserves in the latest statement week. A seasonal decline in float and a somewhat greater than seasonal rise in currency in circulation were the major factors absorbing reserves. System Open Market operations absorbed about $100 million of reserves on a weekly average basis. Member bank borrowings rose $138 million, on weekly average, to a level slightly above the average of recent weeks. Borrowings exceeded excess reserves by $666 million, compared to the revised figure of $567 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended (Wednesday, Reserve Bank credit, March 12, March 5, March 13, March 12, and related items 1969 1969 1968 1969 (Irt millions o:f dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 52,040 15 + 2,874 51,997 Held under repurchase agreements 31 72 - 70 -- Federal Agency obligations- Held under repurchase agreements 3 7 8 Acceptances- Bought outright 50 1 6 49 Held under repurchase agreements 5 12 -t- 5 -- Discounts and advances- Member bank borrowings 872 + 138 + 93 731 Other 8 Float 2,389 _ 118 + 916 2,026 Total Reserve Bank credit 55,390 ~^~" ~BB T" 3,/9b I 54,803 Gold stock 10,367 -- - 1,242 10,367 Treasury currency outstanding 6,818 + 5 + 23 6,816 72,576 - 82 + 2,577 71,986 Currency in circulation 49,459 + 302 + 3,254 49,590 Treasury cash holdings 732 - 26 - 543 732 Treasury deposits with F. R. Banks 465 - 66 - 543 420 Foreign deposits with F. R. Banks 156 + 31 + 34 137 Other deposits with F. R. Banks 468 - 13 - 10 468 Other F. R. accounts (net) - 733 - 15 - 259 - 918 Member bank reserves: 50,548 + 214 + 1,934 50,429 With Federal Reserve Banks 22,027 - 297 + 641 21,557 Currency and coin 4,703 + —11 +_ 541 4,703 Total reserves held 26,730 - 220 + 1,182 26,260 Required reserves 26,524 - 259 + 1,434 26,524 Excess reserves 206 + 39 252 - 264 NOTE: A net of $96 million of surplus reserves were eligible to be carried forward from the week ended March 5, into the week ending March 12. On March 12, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,032 million, an increase of $15 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 t&SERVE BANKS (In millions of dollars) Wednesday Change since March 12, Mar. 5, liar V 13, 1969 1969 1968 A S S E TS Gold certificate account 1/ 10,025 909 Cash ( 811) 227 3 - 215 Discounts and advances 731 14 + 544 Acceptances: Bought outright 49 Held under repurchase agreements Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright- Bills 17,645 165 +1,816 Certificates Notes 29,988 + 62 +2,916 Bonds 4,364 24 -1,816 Total bought outright 51,997 79 +2,916 Held under repurchase agreements Total U. S. Government securities 51,997 79 +2,916' Total loans and securities 52,777 - 95 +3,453 Cash items in process of collection (2,045) 8,678 - 764 + 677 Bank premises 115 + 1 + 4 Other assets 2/ 2.578 ±__ iL + 437 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,856) 74,400 844 +3,447 L I A B I L I T I ES Federal Reserve notes (811) 43,391 + 206 +2,663 Deposits: Member bank reserves 21,557 - 750 + 775 U. S. Treasurer--general account 420 + 65 - 500 Foreign 137 - 12 - 2 Other 3/ 468 -__ 30 +__ 5_ Total deposits 22,582 - 727 + 278 Deferred availability cash items (2,045) 6,652 - 153 + 344 Other liabilities and accrued dividends 404 - 18 + _£2 TOTAL LIABILITIES (2,856) 73,029 - 692 +3, 377 U P I T AL A C C O U N TS Capital paid in 638 1 + 28 Surplus 629 - 1 + 31 Other capital account 104 - 152 + 11 Contingent liability on acceptances purchased for foreign correspondents 105 + * 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.1' 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION J0F_.LOANS-AMD, SECURITIES, MARCH 12, 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 728 15 2,168 + 29 16 day to 90 days 3 34 8,765 -168 91 days to 1 year - _ -- 8,014 - 15 Over 1 year to 5 years - _ -- 19,049 + 41 Over 5 years to 10 years -- 13,370 + 20 Over 10 years -- -- 631 + 14 Total 731 49 51,997 - 79 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 12, 1969 San New Phila Cleve Rich St. Minne Kansas Total ! Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis City cisco (In millionsi of doll. ars) A S S E TS Gold certificate account 10,025 407 2,075 546 849 927 511 1,655 364 98 372 384 1,837 F. R. notes of other banks 811 56 230 62 73 74 89 45 20 10 19 38 95 Other cash 227 10 23 6 27 20 29 23 24 5 18 13 29 Discounts and advances 731 22 114 - 13 32 40 159 70 66 38 37 133 Acceptances: Bought outright 49 -- 49 -- -- -- -- -- -- -- -- — -- Held under repurchase agreements -- -- -- -- -- — -- -- -- -- -- __ Federal Agency obligations- Held urider repurchase agreements -- U* S. Government securities: Bought outright-- Bills 17,645 907 4,516 900 1,355 1,300 916 2,948 583 346 669 717 2,488 Certificates "*** t -- -- -- -- -- -- -- -- -- -- Notes 29,988 ; 1,542 7,674 1,529 2,302 2,209 1,556 5,011 990 589 1,138 1 ,220 4,228 Bonds a^a ??4 1 ,117 733 33S 321 ??6 7?Q 144 86 166 178 61 S Total bought outright 51,997 2,673 13,307 2,652 3,992 3,830 2,698 8,688 1,717 1,021 1,973 2 ,115 7,331 Held under repurchase agreements — ~ - - - - -. -. - -. • - - - -_ - - - - . - — _ Total U. S. Government securities SI ,"397 ?,67T 13,307 ?,65? ^w 3,830 ?,6qa 8,688 1 ,717 _UQ21_ 1 Q7T ~T. 115 7 331 Total loans and securities 52,777 2,695 13,470 2,659 4,005 3,862 2,738 8,847 1,787 1,087 2,011 2 ,152 7,464 Cash items in process of collection 10,723 699 1,844 594 801 844 1,052 1,657 570 412 717 585 948 Bank premises ! 115 3 10 2 5 11 18 17 8 4 19 9 9 Other assets 1/ : 2,578 115 827 125 206 133 144 352 81 52 99 127 317 TOTAL ASSETS 77,256 3,985 18,479 3,994 5,966 5,871 4,581 12,596 2,854 1,668 3,255 3 ,308 10,699 2/ 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 MARCH 12,1969 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 million of dollars) L I A B I L I T I ES Federal Reserve notes 44,202 2,593 10,222 2,526 3,614 4,042 2,340 7,887 1,641 759 1,647 1,524 5,407 Deposits: Member bank reserves 21,557 686 5,645 885 1,516 987 1,236 3,035 709 523 931 1,206 4,198 U. S. Treasurer—general account 420 412 1 1 *1 1 1 1 2 Foreign 137 6 1/ 40 7 12 7 8 19 4 3 6 7 18 Other 468 1 427 2 * 12 2 2 1 1 3 2 15 Total deposits 22,582 693 6,524 894 1,529 1,007 1,246 3,057 715 528 940 1,216 4,233 Deferred availability cash items 8,697 612 1,283 484 667 720 887 1,380 438 341 595 476 814 Other liabilities and accn.t ed dividends 404 20 104 19 31 29 21 66 13 9 14 16 62 TOTAL LIABILITIES 75,885 3,918 18,133 3,923 5,841 5,798 4,494 12,390 2,807 1,637 3,196 3,232 10,516 CAPITAL ACCOUNTS Capital paid in 1 638 31 161 33 59 33 41 95 22 15 28 36 84 Surplus 629 31 160 33 56 32 40 93 22 14 27 36 85 Other capital accounts 104 5 25 5 10 8 6 18 3 2 4 4 14 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 77,256 3,985 18,479 3,994 5,966 5,871 4,581 12,596 2,854 1,668 3,255 3,308 10,699 • • • • — Contingent liability on ace: eptances purchased for forei- gn correspondents 105 27 5_ 9 5 7_ 16 4_ 2 5 6 14 • _ _ _ 5_ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 10,802 2,604 3,849 4,178 2,520 8,147 1,698 781 1,714 1,674 5,731 Collateral for F. R, notes: Gold certificate account 500 300 560 600 -- 1,000 180 27 155 Eligible paper U. S. Government securities 10,600 2,500 3,400 3,649 2,600 7,650 1,600 785 1,775 1,630 6,250 Total collateral 2,731 11,100 2,800 3,960 4,249 2,600 8,650 1,780 812 1,775 1,785 6,250 1/ After deducting $ 97 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. DigitizedV fo r FRAASfEtRe r deducting $ 78 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis