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 For immediate release, May 29, 1969 The average of daily figures of total reserves of member banks declined (net) $58 million in the latest statement weekLi#RA£?7>686 million. Excess reserves remained at a relatively low level, while required reserves and member bank borrow ings declined moderately. A seasonal decline in float and a reduction in Other Federal Reserve assets were the major factors absorbing reserves. Offsetting some of these reserve de clines was a decline in Treasury deposits with Federal Reserve Banks. System Open Market operations provided over $300 million of reserves, on a weekly average basis, primarily through the outright purchase of U. S. Government securities. System repurchase transactions continued to be a major source of reserves in the latest week. Member bank borrowings declined to a level of $1,303 million and exceeded excess reserves by $1,235 million compared to the revised figure of $1,269 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, May 28, May 21, May 29, May 28, and related items IM9 1969 1968 1969 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 53,212 339 + 2,623 53,328 Held under repurchase agreements 295 32 + 295 108 Federal Agency obligations- Held under repurchase agreements 99 21 H- 99 73 Acceptances- Bought outright 46 4 - 10 47 Held under repurchase agreements 57 10 + 57 50 Discounts and advances- Member bank borrowings 1,303 55 + 539 1,649 Other — -- - 13 -- Float 2,007 - 361 + 506 1,635 Other F. R. assets 2,729 - 158 + 527 2,530 Total Reserve Bank credit 59,747 - 262 + 4 ,622 59,420 Gold stock 10,367 -- - 17 10,367 Treasury currency outstanding 6,740 + 1 - 54 6,743 76,855 - 260 + 4 ,552 76,530 Currency in circulation 50,033 + 65 + 3 ,096 50,419 Treasury cash holdings 680 - 3 - 373 683 Treasury deposits with F. R. Banks 404 - 124 - 672 436 Foreign deposits with F. R. Banks 123 - 8 - 42 117 Other deposits with F. R. Banks 442 + Q - 21 424 Other F. R. liabilities and capital 1,972 + 75 + 212 1,994 53,653 + 14 + 2 ,199 54,073 Member bank reserves: With Federal Reserve Banks 23,202 - 274 + 2 ,353 22,457 Currency and coin 4 484 + 216 + 11 | 4,484 ; Total reserves held 27,686 - 58 + 2 ,364 26,941 Required reserves 27,618 - 37 + 2 ,687 27,618 Excess reserves 68 21 - 323 - 677 NOTE: A net of $80 million of surplus reserves were eligible to be carried forward from the week ended May 21, into the week ending May 28. On May 28, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $10,122 million, a decrease of $531 million for the week. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

0F AUf. FEDERAL RESERVE BANKS H.4,1(a) CONSOLIDATED STATEMENT OF CONDXtldtf (In millions b£ Solldrfe) Wednesday Change since May 28, May 21, May 29, 1969 ^ 1969 1968 t A S S E TS Gold certificate account 10,022 -- 4 * Cash (566) 195 - 8 - 232 Discounts and advances 1,649 + 546 -hi, 082 Acceptances: Bought outright 47 -- 6 Held under repurchase agreements 50 7 + 50 Federal Agency obligations Held under repurchase agreements 73 44 '- 73 U, S. Government securities: Bought outright-- Bills 18,699 + 159 +1,823 Certificates Notes 30,501 86 +2,875 -r Bonds 4,128 4" 16 -1,895 Total bought outright 53,328 -!- 261 +2,803 Held under repurchase agreements 108 - 361 + 108 Total U. S. Government securities 53,436 - 100 +2,911 Total loans and securities 55,255 + 395 +4,110 Cash items in process of collection (2,373) 8,161 - 767 + 938 Bank premises 114 -- + 2 Other assets JL/ 2,416 - 218 + 241 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,939) 76,163 598 +5,055 Federal Reserve notes (566) 44,209 + 367 +2,660 Deposits: Member bank reserves 22,457 - 607 +2,015 U. S. Treasurer--general account 436 + 54 - 514 Foreign 117 23 - 74 Other 2/ 424 + 4 - 35 Total deposits 23,434 - 572 +1, 392 Deferred availability cash items (2,373) 6,526 - 446 + 769 Other liabilities and accrued dividends 462 3 1 120 : TOTAL LIABILITIES (2,939) 74,631 - 654 +4,941 C A P I T AL A C C O U N TS Capital paid in 654 1 + 39 Surplus 630 -- + 32 Other capital accounts 248 55 + 43 Contingent liability on acceptances purchased for foreign correspondents 184 + 14 + 52 * 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, MAY 28, 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 Acceptances Holdings Weekly changes Within 15 days 1,606 63 2,939 -547 16 days to 90 days 43 34 8,508 +127 91 days to 1 year -- -- 20,263 +193 Over 1 year to 5 years --^ -- 7,691 + 31 Over 5 years to 10 yeairrss • - 13,447 + 40 Over 10 years -. • - 661 + 12 Total 1,649 97 53,509 -144 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 28, 1969 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco A S S E TS Gold certificate account 10,022 548 2,078 682 783 853 477 2,068 349 130 334 245 1,475 F. R. notes of other banks 566 41 187 28 36 43 70 33 17 9 17 21 64 Other cash 195 10 19 8 24 14 28 18 19 5 14 11 25 Discounts and advances 1,649 185 583 31 18 89 140 231 80 46 108 30 108 Acceptances: Bought outright 47 — 47 — — — — — — -- -- -- -- Held under repurchase agreements 50 -- 50 — — -- -- -- -- -- _- -- -- Federal Agency obligations— Held under repurchase agreements 73 73 U. S. Government securities: Bought outright-- Bills 13,699 989 4,672 962 1,446 1,396 997 3,064 643 372 712 787 2,659 Certificates -- -- -- -- -- -- -- -- -- -• • «. ... -.. Notes 30,501 1,613 7,620 1,569 2,358 2,278 1,626 4,997 1,048 607 1, 162 1 ,285 4,338 Bonds 4.128 218 .1,031,. 212 319 309 220 676 142 83 157 1.74, 587 Total bought outright 53,328 2,820 13,323 2,743 4,123 3,983 2,843 8,737 1,833 1,062 2 ,031 2 ,246 7,584 Held under repurchase agreements 108 -- 108 -- -- -- -- -- -- -- -- ~- -.- Total U. S. Government securities 53,436 2,820 13,431 2,743 4,123 3.983 2,843 8.737 1.833 1.062 2 .031 2 ,246 7.584 Total loans and securities 55,255 3,005 14,184 2,774 4,141 4,072 2,983 8,968 1,913 1,108 2 ,139 2 ,276 7,692 Cash items in process of collection 10,534 621 1,810 598 803 824 980 1,776 473 402 706 651 890 Bank premises 114 3 9 2 5 11 18 17 8 4 19 9 9 Other assets JL/ ! 2,416 | 106 788 114 193 120 136 324 77 50 92 121 295 TOTAL ASSETS 79,102 4,334 19,075 4,206 5,985 5,937 4,692 13,204 2,856 1,708 3 ,321 3 ,334 10,450 17 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 EAoH FEDERAL RESERVE BANK ON MAY 28, 19t9 New Phila Cleve Rich St. Minne- Kansas San Total Boston York delphia land mond Atlanta Chicago Louis ap lis City Dallas Fran cisco (In millions of dollars]) L I A B I L I T I ES Federal Reserve notes 44,775 | 2,581 10,335 2,592 3,621 4,068 2,342 7,975 1,666 777 1,683 1,555 5,580 Deposits: Member bank reserves 22,457 847 5,972 1,027 1,514 1,046 1,386 3,460 751 548 982 1,136 3,788 U. S. Treasurer--general account 43i •x 429 1 1 * .A. -i< **C 1 1 1 2 Foreign 117 6 1/ 28 6 11 6 7 18 4 3 5 7 16 Other 424 * 2/389 1 -- 8 2 2 1 1 3 1 16 Total deposits 23,434 853 6,818 1,035 1,526 1,060 1,395 3,480 756 553 991 1,145 3,822 Deferred availability cash items 8,899 802 1,392 480 669 93 836 1,449 366 336 567 533 776 Other liabilities and accrued dividends i 462 23 132 21 34 33 23 70 15 9 16 18 68 TOTAL LIABILITIES 77,570 4,259 18,677 4,128 5,850 5,854 4,596 12,974 2,803 1 ,675 3,257 3,251 10,246 CAPITAL ACCOUNTS Capital paid in 654 ! 31 170 33 59 34 42 96 23 15 28 37 86 Surplus 630 ! 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 248 13 68 12 20 16 14 41 8 4 9 10 33 TOTAL LIABILITIES /ND CAPITAL ACCOUNTS 79,102 4,334 19,075 4,206 5,985 5,937 4,692 13,204 2,856 1 ,708 3,321 3,334 10,450 Contingent liability on ace: eptances purchased for foreign correspondents 184 9 3/ 47 10 16 10 12 27 6 4 8 10 25 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 46,731 2,660 10,886 2,657 3,846 4,165 2,500 3,212 1,735 800 1,742 1,682 5,846 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 Z85 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 1/ After deducting $ 89 million participations of other Federal Reserve Banks. 27 Includes IMF gold deposit. * Less than $500,000. 3/ After dedm cting $137 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis