H.4.1 Factors Affecting Reserve Balances of Depository Institutions

&&S8&-. F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and ••f^rsts^: Condition Statement of F.R. Banks H.4.1 For immediate release May 8, 1969 The average of daily figures of total reserves of member banks increased $529 million in the latest week to $28,158 million. Excess reserves and member bank borrowings rose sharply to levels well above the averages of recent weeks. A seasonal increase in currency in circulation, absorbing reserves, was aug mented by an increase in Other Federal Reserve liabilities and capital. System Open Market operations more than offset these reserve drains, providing nearly $300 million in reserves, on a weekly average basis, primarily through repurchase transactions. Excess reserves rose to the very high level of $427 million. Some of these excess reserves were accumulated to cover the unusually high reserve deficit carried forward from the previous week. In addition, it is expected that a sizeable portion of these excess reserves will be eligible to be carried forward into the current reserve period. Along with the increase in excess reserves member bank borrowings rose to a level of $1,603 million, on weekly average. Borrowings exceeded excess re serves by $1,176 million compared to the revised figure of $1,067 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 7, April 30, May 8, May 7, and related items 1969 1969 1968 1969 (In millions of dollars). Reserve Bank credit: U. S. Government securities— Bought outright—System account 52,590 + 41 ,390 52,616 Held under repurchase agreements 531 + 304 + 129 166 Federal Agency obligations- Held under repurchase agreements 51 25 36 Acceptances- Bought outright 52 1 4 52 Held under repurchase agreements 70 12 + 17 44 Discounts and advances- Member bank borrowings 1,603 486 + 780 940 Other 14 -- Float 2,171 - 48 + 704 1,954 Other F. R* assets 2,896 - 38 + 411 2,840 Total Reserve Bank credit 59,963 + 708 + 4,448 58,612 Gold stock 10,367 -- 117 10,367 Treasury currency outstanding 6,729 - 14 67 6,732 77,059 + 694 + 4,264 i 75,711 Currency in circulation 49,646 + 144 + 2,978 49,923 Treasury cash holdings 709 + 4 400 ' 692 Treasury deposits with F. R. Banks 591 - 34 344 404 Foreign deposits with F. R. Banks 159 + 40 + 11 161 Other deposits with F. R. Banks 458 - 11 24 442 Other F. R. liabilities and capital 2,002 + 73 + 201 ' 2,017 53,565 + 216 + 2,422 53,639 Member bank reserves: With Federal Reserve Banks 23,494 + 478 + 1,842 : 22,071 Currency and coin 4,664 + 51 + 618 | 4,664 Total reserves held 28,158 + 529 + 2,460 1 26,735 Required reserves 27,731 + 152 + 2,414 27,731 Excess reserves 427 + 377 + 46 1 - 996 NOTE: A net of $6 million of surplus reserves were eligible to be carried forward from the week ended April 30, into the week ending May 7. On May 7, 1969, Ik S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,960 million, an increase of $414 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 May 7, Apr. 30, May 8, 1969 1969 1968 A S S E TS Gold certificate account 10,023 -- 105 Cash (621) 205 + 1 - 222 Discounts and advances 940 -1,592 + 668 Acceptances: Bought outright 52 4 Held under repurchase agreements 44 46 1 Federal Agency obligations Held under repurchase agreem nts 79 5 U. S. Government securities: Bought outright Bills 18,183 31 +1,693 Certifica es Notes 30,046 -- +2,800 Bonds 4,387 -- -1,946 Total b ught ou right 52,616 + 31 +2,547 Held under repurchase agreements 166 - 362 70 Total U. S. Government securities 52,782 - 331 +2,477 Total 1 ans and se uri ies 53,818 -2,048 +3,135 Cash items in pr cess of colle tion (2,081) 8,705 -1,173 +1,283 Bank premises 114 1 1 Other asse s 1/ 2,726 - 124 + 337 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,702) 75,591 +4,429 .Z-L345 L I A B IL 1J£ I ES Federal Reserve notes (621) 43,744 + 296 +2,459 Deposits: Member bank reserves 22,071 -2,273 +1,930 U. S. Treasurer--general account 404 - 546 - 861 Foreign 161 -!- 31 + 28 Other 2/ (1) 442 16 38 Total dep sits (1) 23,078 -2,804 +1,059 Deferred availability cash items (2,080) 6,752 - 884 + 706 Other liabilities and a crued dividends 427 16 + 83 T* TAL LIABILITIES (2,702) 74,001 -3,408 +4,307 C A P I T AL A C C O U N TS Capital paid in 652 + 38 Surplus 630 + 32 Other capital accounts 308 61 + 52 Contingent liability on acceptances purchased ^^_J9T^BIL_P_<?I££sP0ndents 132 + + 6 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes assets denomina ed in foreign currencies and IMF gold deposited. 2/ Includes IMF gold dejiosit. MATURITY DISTRIBUTION OF..LOANS MP SECURITIES, MAY 7, 1969 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in a cordance with maximum maturi y of he agreements.) U. S. G \ernment securities and Discounts and Federal Agency obil gations advances Acceptances Holdings We elc ly changes Within 15 days 928 63 2,781 -374 16 days o 90 days 12 33 9,061 4-401 91 days to 1 year -- -- 8,420 -437 Over 1 year to 5 yeais -- «- 18,507 _- Over 5 years to 10 years -- „ 13,376 -- Over 10 years -- -_ 637 .- To al 940 96 52,782 •410 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 MAY 7, 1969 San • New Phila Cleve Rich St Minne Kansas Total Bo ston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 10,023 436 2,363 667 804 979 412 1,563 336 178 289 229 1,767 F. R. notes of other banks 621 51 210 36 46 44 76 35 18 6 17 16 66 Other cash 205 9 23 8 24 15 28 18 20 5 15 12 28 Discounts and advances 940 113 126 2 28 76 148 221 47 22 55 47 55 Acceptances: Bought outright 52 -- 52 -- -- -- -- -- — -- -- -- -- Held under repurchase agreements 44 — 44 -- -- -- -- — — .» -- -- -- Federal Agency obligations-- Held under repurchase agreements -- U. S. Government securities*. Bought outright— Bills 18,183 962 4,543 935 1,406 1,358 969 2,979 624 363 692 766 2,586 Certificates «- -- — -- -- -- -- -- -- -- __.• -_ -- Notes 30,046 1 ,589 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 "T ~T Total bought outright 52,616 ,783 13,145 2,707 4,068 3,929 ,805 3,621 1 ,808 1,048 2,003 2 ,216 7,483 Held under repurchase agreements 166 ..-. 166 --. -- ... - - ... - _ . _ «» «• __ ~T «• mm Total! U. S. Government securities 52,782 ~T .783 13,311 2.707 4.068 3.929 ,805 8 621 L ,808 1,048 2,003 2 7^83 r Total loans and securities 153,818 r2 ,896 13,533 2,709 4,096 4,005 2 ,953 8,842 1 ,855 1,070 2,058 2 ,263 7,538 Cash items in process of collection 10,786 698 1,701 687 772 880 1 ,042 1,716 553 405 742 595 995 Bank premises ! 114 3 9 2 5 11 18 17 8 4 19 9 9 Other assets JL/ 1 2,726 121 881 131 213 146 150 372 86 5_4_ 105 JJiL_ 337 TOTAL ASSETS 78,293 1 4 ,214 18,720 4,240 5,960 6,080 4 ,679 12,563 2 ,876 1,722 3,245 3 ,254 10,740 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 MAY 7, 1969 TSan New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas jFran- York delphia land mond Louis apolis City |cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 44,365 2,570 10,252 2,552 3,603 4,058 2,328 7,931 1,656 771 1,667 1,547 5,430 Deposits: Member bank reserves 22,071 896 5,842 999 1,496 1,135 1,359 2,918 737 565 905 1,117 4,102 U. S. Treasurer—general account 404 1 397 1 1 * * 1 * 1 * JU 2 Foreign 161 7 1/ 56 7 13 7 9 21 5 3 6 8 19 Other 443 -- 2/386 9 -- 11 2 3 1 2 3 1 25 Total deposits 23,079 904 6,681 1,016 1,510 1,153 1,370 2,943 743 571 914 1,126 4,148 Deferred availability cash items 8,832 640 1,268 571 675 750 860 1,381 408 336 582 477 884 Other liabilities and accrued dividends 427 22 108 20 31 31 23 68 15 9 16 18 66 TOTAL LIABILITIES 76,703 4,136 18,309 4,159 5,819 5,992 4,581 12,323 2,822 1,687 3,179 3,168 10,528 CAPITAL ACCOUNTS "Capital paid in 652 31 170 33 59 33 42 96 22 15 28 37 86 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 308 16 81 15 26 22 16 51 10 6 11 13 41 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 78,293 4,214 18,720 4,240 5,960 6,080 4,679 12,563 2,876 1,722 3,245 3,254 10,740 Contingent liability on accept ances purchased for foreign correspondents 3/ 33 12 20 18 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,643 10,784 2,621 3,820 ~47T60 275^3 87T74 l7T23~ 794 T7T39 T7S8B 5770" Collateral for F. R. notes: Gold certificate account 200 500 300 560 515 — 1,000 180 27 — 155 Eligible paper U. S. Government securities 2,531 10,600 2,500 3,400 3,730 2,600 7,650 1,650 785 1,775 1,630 6,250 Total collateral 2,731 11,100 2,800 3,960 4,245 2,600 8,650 1,830 812 1,775 1,785 6,250 1/ After deducting $105 million participations of other Federal Reserve Banks. 27 Includes IMF gold deposit! * Less than $500,000. 3/ After deducting $ 99 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis