H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE JFactors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release April 3, 1969 The average of daily figures of total reserves of member banks increased $86 million (net) to $26,679 million. Required reserves rose moderately reflecting the increase in member bank deposits in mid-March. The major factors absorbing reserves in the latest week were a somewhat more than seasonal decline in float and a seasonal increase in currency in circu lation. In addition, other F. R. accounts (net) increased $53 million, absorbing a like amount of reserves. Partially offsetting these reserve drains was a moderate reduction in Treasury deposits with Federal Reserve Banks. System Open Market *. operations provided $126 million of reserves, on a weekly average basis, primarily through repurchase transactions. Excess reserves remained about unchanged, while member bank borrowings rose to a level of $1,195 million, reflecting in part seasonal factors that enhance borrowings around the end of the first quarter. In the latest week member bank borrowings exceeded excess reserves by $954 million, compared to the revised figure of $729 million for the previous week. Average: S of daily i figures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, April 2, March 26, Apr il 3, April 2, and related items 1969 1969 1968 1969 (Iri mill ions oJ: dollars) Reserve Bank credit: U. S. Government securities — Bought outright--System account 51,952 + 51 + 2,318 52,016 Held under repurchase agreements 218 + 52 + 54 262 Federal Agency obligations- Held under repurchase agreements 24 + 10 21 63 Acceptances— Bought outright 49 + 2 7 52 Held under repurchase agreements 38 + 11 5 73 Discounts and advances- Member bank borrowings 1,195 + 232 + 499 1,071 Other -- -- - 15 -- Float 1,984 - 307 + 535 2,025 Total Reserve Bank credit 55,462 + 54 + 3,359 55,562 Gold stock 10,367 -- - 117 10,367 Treasury currency outstanding 6,827 + 6 + 30 6,828 72,655 + 58 + 3,271 72,757 Currency in circulation 49,526 + 55 + 3,163 49,723 Treasury cash holdings 716 - 5 - 404 720 Treasury deposits with F. R. Banks 576 - 39 + 39 400 Foreign deposits with F. R. Banks 140 - 25 - 42 145 Other deposits with F. R. Banks 480 + 44 - 173 529 Other F. R. accounts (net) - 976 + 53 - 397 - 817 50,462 + 83 + 2,186 50,700 Member bank reserves: With Federal Reserve Banks 22,194 - 24 + 1,085 22,057 Currency and coin 4,485 + 110 + 131 4,485 Total reserves held 26,679 + 86 + 1,216 26,542 Required reserves 26,438 + 79 + 1,306 26,438 Excess reserves 241 + 7 - 90 104 NOTE: A net of $136 million of surplus reserves were eligible to be carried forward from the week ended March 26, into the week ending April 2. On April 2, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,270 million, an increase of $259 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 April 2, March 26, April 3, 1969 1969 1968 A S S E TS Gold certificate account 10,025 — 106 Cash 725) 212 5 - 219 Discounts and advances 1,071 + 74 + 401 Acceptances: Bought outright 52 + 3 4 Held under repurchase agreements 73 + 48 + 11 Federal Agency obligations-- Held under repurchase agreements 63 58 16 U. S. Government securities: Bought outright-- Bills 17,583 + 111 +1,379 Certificates Notes 30,046 +2,826 Bonds 4,387 -1.942 Total bought outright 52,016 + 111 +2,263 Held under repurchase agreements 262 + 157 - 237 Total U. S. Government securities + 268 +2.026 Total loans and securities + 451 +2,450 Cash items in process of collection (1,878) 8,235 - 196 + 626 Bank premises 114 + 1 + 1 Other assets 1/ 2,670 - 117 + 443 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,603) 74.793 134 +3.195 t l A H L I T I ES Federal Reserve notes (725) 43,485 + 180 +2,538 Deposits: Member bank reserves 22,057 44 + 568 U. S. Treasurer—general account 400 102 + 4 Foreign 145 + 8 - 20 Other If (5) 529 + 81 - 98 Total deposits (5) 23,131 + 31 + 454 Deferred availability cash items (1,873) 6,210 - 166 + 15 Other liabilities and accrued dividends 427 + 28 + 89 TOTAL LIABILITIES (2,603) 73,253 + 73 +3,096 £ £ Z 1 1 £ L A £ C OUNT S Capital paid in 643 2 4- 32 Surplus 630 — + 32 Other capital account 267 59 + 35 Contingent liability on acceptances purchased For foreign correspondents 122 + 2 + 24 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 2, 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 1,064 80 2,374 -269 16 days to 90 days 7 45 9,291 +493 91 days to 1 year 8,156 +102 Over 1 year to 5 years 18,507 Over 5 years to 10 years 13,376 Over 10 years 637 Total 1,071 125 52,341 +326 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 2, 1969 H. 4.1(b) New Phila Cleve Rich St. Minne Kansas | San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Franjcisco (In millions of do]L iars) A S S E TS Gold certificate account 10,025 312 1,806 651 934 955 532 1,700 318 112 375 411 1,919 F. R. notes of other banks 725 ! 68 213 48 66 53 91 39 18 12 16 23 78 Other cash 212 10 23 7 25 17 29 18 22 5 17 11 28 Discounts and advances 1,071 46 120 10 23 24 54 529 54 73 37 8 93 Acceptances: Bought outright 52 52 — — Held under repurchase agreements 73 -- 73 -- -- -- -- -- -- -- -- :: Federal Agency obligations-- Held under repurchase agreements 63 63 U. S. Government securities: Bought outright— Bills 17,583 904 4,484 901 1,357 1,304 926 2,897 609 334 665 725 2,477 Certificates Notes 30,046 1, 543 7,662 1,541 2,319 2,229 1,582 4,950 1,042 570 1,137 1, 239 4,232 Bonds 4,387 225 1,119 225 339 325 231 723 152 83 166 181 618 Total bought outright 52,016 2 ,672 13,265 2,667 4,015 3,858 2,739 8,570 1,803 987 1,968 2 ,145 7,327 Held under repurchase agreements 262 262 Total U. S. Government securities 52,278 2,672 13,527 2,667 4,015 3,858 2,739 8,570 1,803 987 1,968 2,145 7.327 Total loans and securities 53,537 2,718 13,835 2,677 4,038 3,882 2,793 9,099 1,857 1,060 2,005 2,153 7,420 Cash items in process of collection 10,113 612 1,912 560 741 801 934 1,493 551 373 662 557 917 Bank premises 114 3 10 2 5 11 18 17 8 4 18 9 9 Other assets 1/ I 2,670 118 847 126 211 138 152 366 85 53 115 130 329 TOTAL ASSETS 3,841 18,646 4,071 6,020 5,857 4,549 12,732 2,859 1,619 3,208 3,294 10,700 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 SANK ON APRIL 2, 1969 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In milL lions oJE dollars) L I A B I L I T I ES Federal Reserve notes 44,210 2,561 10,233 2,543 3,600 4,041 2,333 7,895 1,640 759 1,651 1,523 5,431 Deposits: Member bank reserves 22,057 616 5,762 970 1,624 1,011 1,254 3,231 738 510 933 1,224 4,184 IL S. -Treasurer—general account 400 * 393 « 1 1 1 1 * Vc 1 * 2 Foreign 145 7 1/ 41 7 12 7 9 21 5 3 6 8 19 Other 534 * 2/487 2 «.»- 12 1 3 1 2 2 2 22 T.9tal deposits 23,136 623 6,683 979 1,637 1,031 1,265 3,256 744 515 942 1,234 4,227 Deferred availability cash items 8,083 561 1,218 449 613 669 834 1,278 409 302 535 436 779 Other liabilities and accrued dividends 427 21 120 21 32 30 21 69 14 9 16 17 57 TOTAL LIABILITIES 75,856 3,766 18,254 3,992 5,882 5,771 4,453 12,498 2,807 1,585 3,144 3,210 10,494 CAPITAL ACCOUNTS Capital paid in 643 31 163 33 59 33 42 95 22 15 28 37 85 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 267 13 69 13 23 20 14 46 8 5 9 11 36 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 77,396 3,841 18,646 4,071 6,020 5,857 4,549 JL2V732 2,859_ 1,619 3,208 3,294 '1 0,700 Contingent liability on ac<: eptances purchased for fore:L gn correspondents 122 6 3/ 31 6 11 6 8 18 4 3 5 7 17 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 46,324 2,653 10,801 2,615 3,842 4,156 2,508 8,165 1,704 780 1,712 1,659 5,729 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 44,970_ 2.531 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 $104 million participations of other Federal Reserve Banks 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 91 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis