H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.I*'"'* For immediate release May 22, 1969 The average of daily figures of total reserves of member banks declined (net) $70 million in the latest week to $27,718 million, a large decline in vault cash was partially offset by an increase in member bank reserves with Federal Reserve Banks. Required reserves and member bank borrowings rose moderately, while excess reserves declined. Major factors providing reserves in the latest statement week were a rise in float, of about seasonal proportion, and a decline in Treasury deposits with Federal Reserve Banks. Other Federal Reserve assets declined $259 million, off setting some of the gains in reserves. System Open Market operations absorbed $38 million of reserves on a weekly average basis. Over the week the Trading Desk pro vided reserves through the purchase of Treasury bills, notes, and bonds and engaged in some repurchase transactions as well. Member bank borrowings increased to a level of $1,358 million and exceeded excess reserves by $1,295 million, compared to the revised figure of $943 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 21, May 14, May 22, May 21, and related items 1969 1969 (In millions of dollars) Reserve Bank credit: U. S. Government securities-* Bought outright-~System account 52,873 217 -I- 2,471 53,067 Held under repurchase agreements 327 256 + 183 469 Federal Agency obligations-- Held under repurchase agreements 78 + 75 117 Acceptances— Bought outright 50 - 1 6 47 Held under repurchase agreements 67 - 7 + 53 57 Discounts and advances-- Member bank borrowings 1,358 + 188 + ' 689 1,103 Other -- — 13 -- Float 2,342 + 262 + 481 1,888 Other F. R. Assets 2,887 - 259 + 730 2,748 Total Reserve Bank credit 59,983 + 154 + 4,664 59,496 Gold stock 10,367 -- 103 10,367 Treasury currency outstanding 6,739 + 5 56 6,741 77,089 + 159 + 4,505 76,604 Currency in circulation 49,968 + 9 + 3,060 50,048 Treasury cash holdings 683 - 6 - 375 677 Treasury deposits with F. R. Banks 528 - 130 700 382 Foreign deposits with F. R. Banks 131 + 4 14 140 Other deposits with F. R. Banks 433 - 18 53 420 Other F. R. liabilities and capital 1,897 - 74 + 202 1,941 53,639 - 217 + 2,118 53,608 Member bank reserves: With Federal Reserve Banks 23,450 + 375 + 2,387 22,996 Currency and coin 4,268 - 445 48 i 4,268 Total reserves held 27,718 - 70 + 2,339 ! 27,264 Required reserves 27,655 + 94 + 2,598 27,655 Excess reserves 63 - 164 259 - 391 NOTE: A net of $160 million of surplu s reserves were eligible to be carried forward from the week ended May 14, int o the week ending May 21. On May 21, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $10,653 million, a decrease of $664 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 21, May 14, May 22, 1969 1969 1968 A S S E TS Gold certificate account 10,022 * Cash (603) 203 — - 232 Discounts and advances 1,103 + 543 + 713 Acceptances: Bought outright 47 5 9 Held under repurchase agreements 57 + 15 + 57 Federal Agency obligations Held under repurchase agreements 117 117 + 117 U. S. Government securities: Bought outright-- Bills 18,540 +1,467 +1,717 Certificates Notes 30,415 + 369 +2,849 Bonds 4.112 - 275 -1.901 Total bought outright 53,067 -1-1,561 +2,665 Held under repurchase agreements 469 + 303 + 469 Total U. S. Government securities 53,536 +1^864 +3,134 Total loans and securities 54,860 +2,534 +4,012 Cash items in process of collection (2,474) 8,860 - 969 +1, 56 Bank premises 114 -- + 1 Other assets 1/ 2,634 - 825 + 567 TOTAL ASSETS /LIABILITIES & CAPITAL ACCOUNTS (3,077) 76,693 + 739 +5,3*8 U A B I L I T I ES Federal Reserve notes (603) 43,842 45 +2,563 Deposits: Member bank reserves 22,996 +2,185 +2,810 U. S. Treasurer--general account 382 - 589 - 773 Foreign 140 + 25 1 Other 2/ 420 20 - 28 Total deposits 23,938 +1,601 +2,008 Deferred availability cash items (2,474) 6,972 - 921 + 599 Other liabilities and accrued dividends 465 + 44 + 125 TOTAL LIABILITIES (3,077) 75,217 + 679 +5,295 £ £ £ 1 1 A L A C C O U N TS Capital paid in 653 39 Surplus 630 + 32 Other capital accounts 193 60 + 32 Contingent liability on acceptances purcha sed for foreign correspondents 170 37 34 * Figures in parentheses are the eliminati ons 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, MAY 21, 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 IJithin 15 days 1,091 73 3,486 + 1,780 * 16 days to 90 days 12 31 8,381 - 757 91 days to 1 year *-— 20,070 +11,762 m. mm Over 1 year to 5 years --. _~ 7,660 -10,847 Over 5 years to 10 years ~- 13,407 + 31 Over 10 years _- __ 649 + 12 Total 1,103 104 53,653 + 1,981 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 21, 1969 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 10,022 414 1,714 621 829 907 504 2,190 364 170 357 297 1,655 F- R. notes of other banks 603 45 195 30 34 51 72 33 22 7 17 18 79 Other cash 203 9 22 8 23 16 29 20 19 5 14 12 26 Discounts and advances 1,103 208 168 34 36 149 180 65 19 60 41 135 Acceptances: Bought outright 47 47 Held under repurchase agreements 57 57 Federal Agency obligations- Held under repurchase agreements 117 117 U. S. Government securities: Bought outright- Bills 18,540 981 4,632 954 1,433 1,384 988 3,038 637 369 706 781 2,637 Certificates Notes 30,415 1,609 7,599 1,564 2,352 2,272 1,621 4,983 1,045 606 1,158 1,281 4,325 Bonds 4.112 217 1.027 212 318 307 219 674 14.1 82 157 173 585 Total bought outright 53,067 2,807 13,258 2,730 4,103 3,963 2,828 8,695 1,823 1,057 2,021 2,235 7,547 Held under repurchase agreements 469 _4.62_ Total U. S. Government securities 5.3^.536 2.807 13.727 2.730 4.103 3.963 2.828 8.695 1.823 1.057 2.021 2.235 7.547 Total loans and securities 54,860 3,015 14,116 2,764 4,111 3,999 2,977 8,875 1,888 1,076 2,081 27276 7,682 Cash items in process of collection 11,334 733 1,786 625 817 994444 1,095 1,908 573 438 749 651 1,015 Bank premises 114 3 9 2 5 11 18 17 8 4 19 9 9 Other assets J7 2,634 116 842 131 211 132 150 354 84 55 101 135 323 TOTAL ASSETS 79,770 4,335 18,684 4,181 6,030 6,060 4,845 13,397 2,958 1,755 3,338 3,398 10,789 _!/ 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 21, 1969 New Phila Cleve Rich St. Minne- Kans as San Total Boston York delphia land mond Atlanta Chicago Louis apol. is City Dallas Fran cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 44,445 2 ,b/y 10,293 2,572 3,611 4,041 2,325 7,950 1,658 776 1,665 1,550 5,425 Deposits: Member bank reserves 22,996 967 5,621 999 1,515 1,102 1,465 3,570 86 571 963 1,218 4,219 U. S. Treasurer--general account 382 1 374 1 1 1 * 1 * 1 * JU 2 Foreign 140 6 1/ 39 7 12 7 9 20 5 3 6 8 18 Other 420 X 2/379 1 -- 9 2 3 1 1 2 1 21 Total deposits 23,938 974 6,^13 1,008 1,528 1,119 1,476 3,594 792 576 971 1,227 4,260 Deferred availability cash items 9,446 688 1,452 505 727 789 928 1,563 443 360 624 522 845 Other liabilities and accrued dividends 465 23 143 21 33 31 23 70 14 10 16 18 63 TOTAL LIABILITIES 78,294 4 ,264 18,301 4,106 5,899 5,980 4,752 13,177 2,907 1 ,722 3,276 3,317 10,593 CAPITAL 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 193 9 53 9 16 13 11 31 7 4 7 8 25 TOTAL LIABILITIES . ND ** '; - •• CAPITAL ACCOUNTS 179,770 4 ,335 18^84 4,181 6,030 6,060 4,845 13.397 2,958 1,7 55 3,338 3.398 10.789 Contingent Liability on ace: eptances purchased for foreign correspondents ! 170 8 l/43_ 9 15 9 11 25 6 4 7 10 23 FEDERAL RESERVE AGENTS1 ,CC0UNTS F« R. notes outstanding 2,653 10,833 2,642 3,818 4,163 2,486 8,204 1,735 795 1,739 1,692 5,732 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 17 After deducting $101 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3_/ After deducting $127 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis