H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE mmmmm mmmmmmmtm ^Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release April 24, 1969 The average of daily figures of total reserves of member banks increased $963 million (net) in the latest week to $27,547 million. Required reserves in creased $940 million, reflecting both the increase in member bank deposits earlier in the month and the effect of the change in reserve requirements effective April 17. The latter factor raised required reserves by about $650 million. Treasury deposits with Federal Reserve banks were restored to more normal levels in the latest week, absorbing reserves. Also adding to reserve absorption was the redemption by the Treasury of the special certificates issued a week earlier. Offsetting some of these reserve drains was a somewhat greater than seasonal rise in float and a seasonal decline in currency in circulation. System Open Market opera tions provided, on weekly average, well over $1.0 billion reserves. Excess reserves were about unchanged from a week earlier while member bank borrowings rose $374 million to a level of $1,134 million. Borrowings exceeded ex cess reserves by $997 million, compared with the revised figure of $646 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 23, Apri 1 16, April 24, April 23, and related items 1969 1969 1968 1969 0I n millions ci f dollars) Reserve Bank credit: U. S. Government securities — Bought outright—System account 52,269 + 819 + 2,342 52,316 Held under repurchase agreements 223 + 223 + 223 -- Special Certificates -- - 723 -- -- Federal Agency obligations- Held under repurchase agreements 20 + 20 20 — Acceptances- Bought outright ~ i + 2 3 52 Held under repurchase agreements "6 + 56 56 50 Discounts and advances- Member bank borrowings 1,134 + 374 + 483 1,230 Other -- -- 15 — Float 2,945 + 655 + 1,104 2,115 Other F. R. assets 2,849 + 42 + 568 2,866 Total Reserve Bank credit 59,548 + 1 ,467 + 4,777 58,629 Gold stock 10,367 -- 117 10,367 Treasury currency outstanding 6,748 + 2 49 6,754 76,663 + 1 ,469 + 4,611 75,750 Currency in circulation 49,681 - 182 + 3,073 49,667 Treasury cash holdings 712 + 8 412 709 Treasury deposits with F. R. Banks 429 + 421 609 749 Foreign deposits with F. R. Banks 121 - 5 39 124 Other deposits with F. R. Banks 506 - 8 + 19 455 Other F. R. liabilities and capital 1,868 - 69 + 181 1,880 53,317 + 164 + 2,215 53,584 Member bank reserves: With Federal Reserve Banks 23,346 + 1 ,305 + 2,396 22,167 Currency and coin 4,201 - 342 352 4,201 Total reserves held 27,547 + 963 + 2,044 26,368 Required reserves 27,410 + 940 + 2,033 27,410 Excess reserves 137 + 23 + 11 -1,042 NOTE: A net of $41 million of surplus reserves were eligible to be carried forward from the week ended April 16, into the week ending April 23. On April 23, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for. foreign account were $8,387 million, a decrease of $38 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^LL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since April 23, April 16, April 24, 1969 1969 1968 A S S E TS Gold certificate account 10,024 104 Cash (738) 204 - 216 Discounts and advances 1,230 + 309 + 521 Acceptances: Bought outright 52 - 4 Held under repurchase agreements 50 \- 50 + 50 Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright- Bills 17,883 +1,036 +2,152 Certificates - Special - 627 - Other Notes 30,046 +2,800 Bonds 4,387 -1,946 Total bought outright 52,316 + 409 +3,006 Held under repurchase agreements Total U. S. Government securities 52,316 + 409 +3,006 Total loans and securities 53,648 + 768 +3,573 Cash items in process of collection (2,601) 9,675 -1,131 +1,579 Bank premises 114 — + 1 Other assets 1/ 2,752 + 34 + 581 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,339) 76,417 330 +5,414 L I A B I L I T I ES Federal Reserve notes 38) 43,482 212 +2,544 Deposits: Member bank reserves 22,167 - 174 +2,714 U. S. Treasurer--general account 749 + 742 - 836 Foreign 124 6 34 Other 2/ (3) 455 73 30 Total deposits (3) 23,495 + 489 +1, 814 Deferred availability cash items (2,598) 7,560 - 679 + 875 Other liabilities and accrued dividends 410 + 11 + 89 TOTAL LIABILITIES (3,339) 74,947 391 4-5,322 C A P I T AL A C C O U N TS Capital paid in 649 5 + 35 Surplus 630 ~ 4- 32 Other capital account 191 56 4 - 25 Contingent liability on acceptances purchased for foreign correspondents 127 4- 2 4- 17 * 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 23, 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 obiL gations advances Acceptances Holdings Wee!c ly changes Within 15 days 1,135 61 2,699 -503 16 days to 90 days 45 41 8,739 4-313 91 days to 1 year -- „ 8,358 +599 Over 1 year to 5 years „ -- 18,507 „ Over 5 years to 10 year•ss -- 13,376 -- Over 10 years .- ..- 637 -- Total 11, .2?3300 102 52,316 +409 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 23, 1969 »i • •' San New Phila Cleve Rich St. Minne Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) A S S E TS Gold certificate account 10,024 719 1,709 547 840 930 585 1,715 340 146 397 323 1,773 F. R. notes of other banks 738 55 221 44 57 67 91 42 21 9 15 23 93 Other cash ! 204 9 23 7 25 15 28 17 22 5 15 11 27 Discounts and advances 1,230 192 161 41 55 113 57 161 55 37 53 82 223 Acceptances: Bought .^outright 52 -- 52 -- - — — - - — - — -- -- -- -- -- Held under repurchase agreements 50 — — 50 — — — — — — — — — ~ — — - - - - — - -- Federal Agency obligations- Held under repurchase agreements -- - "~ U* S* Government securities: Bought ~outri ght— Bills 17,883 919 4,561 917 1,380 1,326 942 2,946 620 339 677 737 2,519 Certificates--Special -- — -- -- -- -- -- -- -- -- -- -- -- : Other -- -.« -- -- -- -- -- -- -- -« -- -- __ 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 ,52,316 i 2~ 7587 13,342 —j- r6~83~ 4,038 3,880 2,755 8,619 1,814 992 1,980 _ ,157 7,369 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Total IK S. Government securities 52,316 27 687 13,342 T ,683 4,038 3,880 2,755 8,619 1,814 992 1,980 ~Tr i57~ 7,369 Total loans and securities 153,648 2 ,879 13,605 2 ,724 4,093 3,993 2,812 8,780 1,869 1,029 2,033 2 ,239 7,592 Ca«h items in process of collection 112,276 706 2,157 803 853 924 1,132 1,952 574 426 905 764 1,080 Bank premises 114 3 10 2 5 11 18 17 8 4 18 9 9 Other assets \J 2,752 123 874 131 218 146 154 382 88 56 105 134 341 TOTAL ASSETS 79,756 4 ,494 18,599 4 ,258 6,091 6,086 4,820 12,905 2,922 1,675 3,488 3 ,503 10,915 \J 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 APRIL 23, 1969 ' 1 New Phila Cleve Rich St. Minne Kansas 1 San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas |Fran- 1cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 44,220 2,571 10,229 2,547 3,604 4,038 2,311 7,915 1,648 767 1,652 1,537 5,401 Deposits: Member bank reserves 22,167 866 5,192 984 1,575 1,136 1,423 3,180 778 499 1,013 1,204 4,317 U. S. Treasurer--general account ! 749 i * 742 1 * 1 1 1 * 1 * 2 •> Foreign 124 6 1/ 34 6 11 6 8 18 4 3 5 7 16 Other 458 ! 1 2/ 417 2 -- 10 1 4 1 2 2 1 17 Total deposits 23,498 873 6,385 992 1,587 1,152 1,433 3,203 784 504 1,021 1,212 4,352 Deferred availability cash items 10,158 957 1,504 624 737 787 963 1,500 426 363 739 656 902 Other liabilities and accrued dividends 410 21 102 20 32 29 21 66 14 9 15 17 64 TOTAL LIABILITIES 78,286 4,422 18,220 4,183 5,960 6,006 4,728 12,684 2,872 1,643 3,427 3,422 10,719 CAPITAL ACCOUNTS Capital paid in 649 31 168 33 59 33 42 95 22 15 28 37 86 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 191 10 51 9 16 14 10 33 6 3 6 8 25 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1 79,756 4,494 18,599 4,258 6,091 6,086 4,820 12,905 2,922 —k675_ 3,488 3,503 10,915 Contingent liability on ac<: eptances purchased for foreign correspondents 1 127„ 6 3/ 32 7 11 7 8 19 4 3 6 7 17 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 46,442 2,640 10,802 2,622 3,844 4,173 2,496 8,187 1,728 793 1,733 1,694 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 45,020 2,531 10,600 2,500 3,400 3,649 2,600 7,650 1,650 785 1,775 1.630 6,250 Total collateral 48,542 2,731 11,100 2,800 3,960 4,249 2,600 8,650 1,830 812 1,775 1,785 6,250 1/ After deducting $ 90 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 9-> million narticinations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis