H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.'£gg£gfc 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 15, 1969 The average of daily figures of total reserves of member banks declined (net) $409 million in the latest week to $27,766 million. Required reserves decline reflecting the reduction in average deposits in the last week in April. Excess reserves and member bank borrowings were also reduced from the high level of the previous week. A seasonal increase in currency in circulation augmented by a decline in float, absorbing reserves, was partially offset by an increase in other Federal Reserve assets. System operations also provided about $150 million of reserves on a weekly average basis. Included in the System's operations was a sizeable matched sale-purchase transaction made at the end of the week. Excess reserves declined nearly $250 million and member bank borrowings over $400 million in the latest week. However, both excess reserves and borrowings were slightly above the average levels of recent weeks. Borrowings exceeded excess reserves by $965 million, compared to the revised figure of $1,159 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 14, May 7, May 15, May 14, and related Items 1969 1969 1968 1969 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- 1/ Bought outright—System account 52,656 + 66 + 2,587 51,506 Held under repurchase agreements 583 + 52 + 139 166 Federal Agency obligations-- Held under repurchase agreements 69 -h 18 4- 61 Acceptances-- Bought outright 51 - 1 - 4 52 Held under repurchase agreements 74 + 4 + 51 42 Discounts and advances-- Member bank borroxzings 1,170 433 + 458 560 Other — -- - 13 1 Float 2,058 - 130 + 565 1,910 Other F. R. assets 3,146 + 250 + 686 3,573 Total Reserve Bank credit 59,807 - 173 + 4 ,528 57,809 Gold stock 10,367 -- - 117 10,367 Treasury currency outstanding 6,734 + 5 - 60 6,737 76,909 - 167 + 4 ,353 74,913 Currency in circulation 49,959 + 313 + 3 ,039 50,074 Treasury cash holdings 689 - 20 - 393 690 Treasury deposits with F. R. Banks 658 + 67 - 422 971 Foreign deposits with F. R. Banks 127 - 32 - 5 115 Other deposits with F. R. Banks 451 - 7 - 48 440 Other F. R. liabilities and capital 1,971 - 31 + 209 1,837 Member bank reserves: 53,856 + 291 + 2 ,382 54,127 With Federal Reserve Banks 23,053 - 458 + 1 ,970 20,785 Currency and coin 4,713 + 49 + 417 j 4,713 Total reserves held 27,766 - 409 + 2 ,387 j 25,498 Required reserves 27,561 - 170 + 2 ,582 27,561 Excess reserves 205 - 239 - 195 -2,063 NOTE: A net of $217 million of surplus reserves were eligible to be carried forward from the week ended May 7, into the week ending May 14. 1/ Reflects $1,095 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. On May 14, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $11,392 million, an increase of $2,432 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 14, May 7, May 15, 1969 1969 1968 A S S E TS Gold certificate account (588) 10,023 -- 105 Cash 203 2 - 224 Discounts and advances 560 380 - 348 Acceptances: Bought outright 52 --. 4 Held under repurchase agreements 42 2 + 18 Federal Agency obligations*- Held under repurchase agreements 20 U. S. Government securities: Bought outright- Bills 17,073 -1,110 + 583 Certificates Notes 30,046 +2,480 Bonds 4,387 2^ -1,626 Total bought outright 1/ 51,506 -1,110 +1,437 Held under repurchase agreements 166 - 431 Total U. S. Government securities 51,672 -1,110 +1,006 Total loans and securities 52,326 -1,492 + 652 Cash items in process of collection (2,377) 9,803 +1,066 + 748' Bank premises 114 -- + 1 Other assets 2/ 3,459 + 733 +1,430 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,965) 75,928 + 305 +2,502 N U B I L I T I ES Federal Reserve notes (588) 43,887 143 +2,526 Deposits: Member bank reserves 20,785 -1,318 - 430 U. S. Treasurer—general account 971 + 567 - 175 Foreign 115 - 46 - 39 Other 3/ (2) 440 2 63 Total deposits (2) 22,311 - 799 - 707 Deferred availability cash items (2,375) 7,893 +1,141 + 516 Other liabilities and accrued dividends 421 6 +___?! : TOTAL LIABILITIES (2,965) 74,512 -I- 479 +2,410 C A P I T AL A C C O U N TS Capital paid in 653 1 + 39 Surplus „ + 630 32 Other capital accounts ^33 ^75 4. 21 Contingent liability on acceptances purchased for foreign correspondents 133 + 1 +3 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Reflects $1,095 million of securities sold, and scheduled to be bought back under matched sale-purchase transactions. 2/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. m MATURITYpiSTRIBUTION OF.LOANS_AND SECURITIES, MAY 14, 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 549 61 1,706 -1,075 16 days to 90 days 11 33 9,138 + 77 91 days to 1 year -- — 8,308 - 112 Over 1 year to 5 years -- 18,507 -- Over 5 years to 10 yeairrss -- 13,376 -- Over 10 years -•^ — 637 -- Total 560 94 51,672 •1,110 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 14, 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 44,475 2,578 •L 0,260 2,568 3,613 4,056 2,337 7,958 1,660 776 1,668 1,553 5,448 Deposits: Member bank reserves 20,785 736 5,534 1,046 1,444 1,092 1,349 3,045 729 542 905 1,114 3,249 U. S. Treasurer -- general account 971 1 963 * 1 1 1 1 'k * 1 * 2 Foreign 115 1 6 1/ 25 6 11 6 8 18 4 3 5 7 16 Other 442 1 2/389 2 -- 9 1 4 1 2 2 1 30 Total deposits 22,313 744 6,911 1,054 1,456 1,108 1,359 3,068 734 547 913 1,122 3,297 Deferred availability cash items 10,268 723 1,636 588 794 861 990 1,598 51 371 703 560 926 Other liabilities and accrued dividends 421 1 22 104 21 31 31 22 67 14 10 16 17 66 TOTAL LIABILITIES 7,477 4,067 "L 8,911 4,231 5,894 6,056 4,708 12,691 2,926 1,704 3,300 3,252 9,737 C/PITAL ACCOUNTS Capital paid in 653 31 170 33 59 34 42 96 22 15 28 37 86 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 133 6 38 6 12 8 8 22 5 2 5 5 16 TOTAL LIABILITIES AND 78,893 4,135 'L 9,279 4,303 6,021 6,131 4,798 12,902 2,975 1,735 3,360 3,330 9,924 CAPITAL ACCOUNTS Contingent liability on acee ptances purchased for foreig n correspondents 133 6 3/ 34 7 12 7 8 20 5_ 3 6 2 18 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 46,430 2,646 10,792 2,631 3,830 4,163 2,497 8,182 1,728 799 1,739 1,693 5,730 Collateral for F. R. notes Gold certificate account 3,437 200 500 300 560 515 -- 1,000 180 27 - 155 Eligible paper - -- -- U. S. Government securities 45.101 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 48,538 2,731 11,100 2,800 3,960 4,245 2,600 8,650 1,830 812 1,775 1,785 6,250 U After deducting $ 90 million participations of other Federal Reserve Banks. 2/ 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