H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.*pjg^& F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 1, 1969 The average of daily figures of total reserves of member banks increased $37 million in the latest week to $27,612 million. Required reserves rose while excess reserves declined. Member bank borrowings were about unchanged from the week earlier average. The major factors absorbing reserves in the latest week were a greater than seasonal decline in float and a rise in Treasury deposits with Federal Reserve Banks. Offsetting these reserve drains was a seasonal decline in currency in cir culation of $179 million. System Open Market operations provided over $350 million of reserves, on a weekly average basis, primarily through outright purchases of Treasury bills, Excess reserves were sharply lower than the average of recentw eeks. Member bank borrowings averaged $1,117 million, and exceeded excess by $1,084 milli compared to the revised figure of $969 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 30, April 23, May 1, April 30, and related items 1969 1969 1968 1969 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright --System account 52,549 + 280 + 2,446 52,585 Held under repurchase agreements 227 + 4 + 97 528 Federal Agency obligations- Held under repurchase agreements 76 56 71 79 Acceptances- Bought outright 51 2 5 52 Held under repurchase agreements 26 69 90 Discount a and advance, s — 82 Member bank borrowings 17 + 443 2,532 Other 1,117 15 Float 770 + 742 2,229 Other F. R. assets 2,203 85 + 592 2,965 Total Reserve Bank credit 2,934 338 + 4,438 61,060 Gold stock 59,238 117 10,367 Treasury currency outstanding 10,367 54 6,726 766,,374493 342 + 4,268 78,153 Currency in circulation 49,502 179 + 3,021 49,607 Treasury cash holdings 705 7 - 416 707 Treasury deposits with F R. Banks 625 196 - 448 950 Foreign deposits with F. .. Banks 119 2 75 130 Other deposits with F. R Banks 469 37 21 459 Other F. R. liabilities d capital 1,929 61 -I- 188 1,970 Member bank reserves: 53,349 + 32 + 2,248 53,822 With Federal Reserve Banks 22,999 - 375 2,019 24,331 Currency and coin 4,613 + 412 75 4,613 Total reserves held 27,612 + 37 + 2,094 28,944 Required reserves 27,579 + 169 + 2,337 27,579 Excess reserves 33 - 132 - 243 1,365 NOTE: A net of $85 million of surplus reserves were eligible to be carried forward from the week ended April 23, into the week ending April 30. On April 30, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,546 million, an increase of $159 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 6? ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since April 30, April 23JMay 1, 1969 1969 1968 A S S E TS Gold certificate account 10,023 105 Cash 204 -- - 222 Discounts and advances 2,532 -!-l, 302 +1,804 Acceptances: Bought outright 52 - . 4 Held under repurchase agreements 90 '- 40 + 31 Federal Agency obligations Held under repurchase agreements 79 79 + 57 U. S. Government securities: Bought outright-- Bills 18,152 + 269 +1,489 Certificates Notes 30,046 +2,800 Bonds , 4,387. -1,946 Total bought outright 269 +2,343 52,585 Held under repurchase agreements 528 - 118 528 Total U. S. Government securities 53,113 + 797 +2,225 Total loans and securities 55,866 +2,218 +4,113 Cash items in process of collection (2,529) 9,865 + 183 +1,671 Bank premises 115 + 1 + 2 Other assets 1/ ^850 + 98 + 491 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (3,277) 78.923 +2,499 +5.950 L I A B I L I T I ES Federal Reserve notes (748) 43,448 34 +2,449 Deposits: Member bank reserves 24,331 +2,157 +2,233 U. S. Treasurer--general account 950 + 201 + 218 Foreign 130 + 6 - 35 Other 2/ 458 + 3 - 46 Total deposits 25,869 '1-2,367 -1-2,370 Deferred availability cash items (2,529) 7,636 + 76 + 943 Other liabilities and accrued dividends 443 + 32 + 82 TOTAL LIABILITIES (3,277) 77,396 -1-2,442 +5,844 C A P I T AL A C C O U N TS Capital paid in 650 + 36 Surplus 630 + 32 Other capital accounts 247 56 + 38 Contingent liability on acceptances purchased for foreign correspondents 125 + * 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 30,, 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 obii gations advance. s Acceptances Holdings Weekly changes Within 15 days 2,522 105 3,155 W5F— 16 days to 90 days 10 36 8,660 - 79 91 days to 1 year -- -- 8,857 +499 Over 1 year to 5 years -- 18,507 -- Over 5 years to 10y ears — 13,376 -- Over 10 years -- 637 „ Total 2,532 142 53,192 +876 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 APRIL 30 , 1969 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas iF ran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate acc6unt 10,023 372 2,763 520 734 888 484 1,921 262 138 309 279 1,353 F. R. notes of other batiks 748 57 225 46 59 56 110 41 17 10 14 22 91 Other cash 204 9 24 7 24 14 27 18 21 5 15 11 29 Discounts and advances 2,532 174 576 57 99 127 149 500 178 73 107 122 370 Acceptances: Bought outright 52 -- 52 -- -- -- -- -- -- -- -- -- -- HeLd under repurchase agreements 90 90 -- -- -- -- -- Federal Agency obligations -- Held under Repurchase agreements 79 79 U. S. Government securities: Bought outright-- Bills •18,152 960 4,535 933 1,404 1,356 967 2,974 623 362 692 765 2,581 Certificates--Special " — -- -- - - -- -- -- -- -- -- Other Notes 30,046 1 , 1 5 89 7,506 1,546 2,323 2,244 1 ,602 4,923 1 ,033 598 1 ,144 1,265 4,273 Bonds ! 4,387 232 1,096 226 339 327 234 719 151 87 167 185 624 Total bought outright 52,585 2 ,781 13,137 2,705 4,066 3,927 2 ,803 8,616 1 ,807 1,047 2 ,003 2,215 7,478 Held under repurchase agreements 528 -- 528 - - «- -- -- -- __ -- -- -- Total U. S. Government securities !53,113 2 ,781 13.665 2_,:mi 4,066 _3^2.2J_ 2 , 803 . 8.616 1 ,807 1.047 2 ,003 2,215 7,478 Total loans and securities 155,866 2 ,955 14,462 2,762 4,165 4,054 2 ,952 9,116 1 ,985 1,120 2 ,110 2,337 7,848 Cash items in process of collection 12,394 773 2,307 883 841 905 1 ,132 1,872 551 431 941 686 1,072 Bank premises | 115 3 10 2 5 11 18 17 8 4 19 9 9 Other assets 1/ 2,850 128 894 138 226 152 160 393 91 58 114 139 357 TOTAL ASSETS 82,200 4 ,297 20,685 4,358 6,054 6,080 4 ,883 13,378 2 ,935 1,766 3 ,522 3,483 10,759 JV 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 30, 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 dollars) L I A B I L I T I ES Federal Reserve notes 44,196 2,566 10,219 2,541 3,593 4,052 2,329 7,901 1,647 766 1,657 1,537 5,388 Deposits: Member bank reserves 24,331 879 6,904 1,025 1,556 1,110 1,434 3,666 780 588 967 1,272 4,150 U. S. Treasurer—general account 950 1 942 * 1 1 11 1 * 2 Foreign 130 6 1/ 40 6 11 6 8 18 4 3 5 7 16 Other 458 2/415 1 8 2 4 1 3 2 2 20 Total deposits 25,869 886 3,301 1,032 1,568 1,125 1,445 3,689 786 594 974 1,281 4,188 Deferred availability cash items 10,165 749 1,648 685 725 788 991 1,488 436 363 811 565 916 Other liabilities and accril ed dividends 443 22 123 22 32 31 23 70 14 10 16 17 63 TOTAL LIABILITIES 80,673 4,223 20,291 4,280 5,918 5,996 4,788 13,148 2,883 1,733 3,458 3,400 10,555 CAPITAL ACCOUNTS Capital paid in 650 31 168 33 59 33 42 96 22 15 28 37 86 Surplus 630 I 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 247 ! 12 66 12 21 18 13 41 8 4 9 10 33 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ;82,200 i 4,297 20,685 4,358 _6»j>54_ 6,080 4-^883 __13 A 378_ _J_ 2 9J35_ _L_766__ -JLA?-2- 3,483 10,759 Contingent liability on ace: eptances purchased for forej• gn correspondents 125 i. 6 3/ 32 7 11 7 8 18 4 3 5 7 17 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 46,383 2,645 10,779 2,623 3,836 4,179 2,491 8,172 1,722 789 1,733 1,696 5,718 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 JL/ After deducting $90 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. V After deducting $93 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis