H.4.1 Factors Affecting Reserve Balances of Depository Institutions

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 June 5, 1969 The average of daily figures of total reserves of member banks declined (net) $136 million in the latest statement week to $27,560 million. Required re serves also declined while excess reserves and member bank borrowings each rose about $200 million. The major factors absorbing reserves in the latest week were increases in currency in circulation and Treasury deposits with Federal Reserve Banks. The $403 million increase in currency in circulation was somewhat greater than the usual seasonal change for this week. In addition, a decline in Other Federal Reserve assets also absorbed reserves. Offsetting some of these reserve drains was a some what greater than seasonal increase in float. System Open Market operations pro vided reserves, on a weekly average basis. Outright holdings of U. S. Government securities rose while repurchase transactions were reduced moderately from the level of the previous week. Excess reserves and member bank borrowings rose to levels above the av erage of recent weeks. Borrowings exceeded excess reserves by $1,240 million com pared to the revised figure of $1,225 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 4, May 28, June 5, June 4, and related items 1969 1969 1968 1969 (In millions c f dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 53,636 + 424 + 3,017 ! 53,833 Held under repurchase agreements 179 - 116 + 179 -- Federal Agency obligations-- Held under repurchase agreements 49 50 + 49 — Acceptances-- Bought outright 45 1 9 44 Held under repurchase agreements 21 36 + 21 — Discounts and advances-- Member bank borrowings 1,522 + 219 + 763 927 Other -- -- 13 -- Float 2,182 + 165 + 642 2,291 Other F. R. assets 2,508 - 221 47 2,477 Total Reserve Bank credit 60,142 + 385 + 4,602 59,572 Gold stock 10,367 — 15 10,367 Treasury currency outstanding 6,744 + 4 52 6,743 77,254 + 389 + 4,536 76,682 Currency in circulation 50,436 + 403 + 3,182 50,607 Treasury cash holdings 696 + 16 - 346 687 Treasury deposits with F. R. Banks 500 + 96 284 297 Foreign deposits with F. R. Banks 105 - 18 - 204 110 Other deposits with F. R. Banks 447 + 5 30 432 Other F. R. liabilities and capital 2^052 + 80 + 239 2.078 54,237 + 584 + 2,557 54,211 Member bank reserves: With Federal Reserve Banks 23,017 - 195 + 1,979 22,471 Currency and coin 4,543 + 59 + 249 | 4,543 Total reserves held 27,560 - 136 + 2,228 27,014 Required reserves 27,278 - 340 + 2,154 27,278 Excess reserves 282 + 204 + 74 - 264 NOTE: A net of $51 million of surplus reserves were eligible to be carried forward from the week ended May 28, into the week ending June 4. On June 4, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,383 million, a decrease of $739 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 June 4, May 28, June 5, 1969 1 1969 1968 A S S E TS Gold certificate account 10,022 3 (544) Cash 194 1 221 Discounts and advances 927 722 495 Acceptances: Bought outright 44 3 8 Held under repurchase agreements 50 Federal Agency obligations Held under repurchase agreements 73 U. S. Government securities: Bought outnght-- Bills 19,204 + 505 -1-2,167 Certificates Notes 30,501 +2,875 Bonds 4,128 --. -1,895 Total bought outright 53,833 505 +3,147 Held under repurchase agreements 108 Total U. S. Government securities 53,833 -!- 397 +3,147 Total loans and securities 54,804 - 451 +3,634 Cash items in process of collection (2,426) 9,518 +1,340 +1,808 Bank premises 115 1 + 2 ther assets 1/ 2,362 54 - 175 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,970) 77,015 835 +5,045 L I A B I L I T I E S. Federal Reserve notes (544) 44,400 191 +2,636 Deposits: Member bank reserves 22,471 - 3 +1,220 U. S. Treasurer--general account 297 - 139 99 Foreign 110 - 7 - 54 ther 2/ 432 + 8 38 Total deposits 23,310 - 141 +1,029 Deferred availability cash items (2,426) 7,227 j_ 701 +1,134 Other liabilities and accrued dividends 487 .;. 25 + 122 TOTAL LIABILITIES (2,970) 75,424 + 776 -1-4,921 £ k JL I 1 ^ L A C C O U N TS Capital paid in 656 2 + 41 Surplus 630 -- + 32 ther capital accounts 305 57 + 51 Contingent liability on acceptances purchased for foreign correspondents 182 - 2 + 57 * Figures in parentheses are the eliminations made in the consolidating process. 17 Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 4, 1969 (Acceptances and securities held under repurchase agreements are classified as maturing xv-ithin 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 990099 1133 22,,221188 -72F 16 days to 90 days 1188 3311 99,,31316 6 +808 91 days to 1 year ---- ---- 2200,,55000 0 +237 Over 1 year to 5 years -« -.- 7,691 Over 5 years to 10 years -- -- 13,447 Over 10 years -^ --_ 661 Total 927 44 53,833 +324 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 JUNE 4, 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 10,022 388 2,217 522 735 841 570 1,814 355 150 363 145 1,922 F. R. notes of other banks 544 37 192 27 31 38 64 36 15 9 16 19 60 Other cash 194 10 20 8 22 15 28 18 19 5 14 10 25 Discounts and advances 927 121 113 2 14 74 80 187 38 39 77 48 134 Acceptances: Bought outright 44 — 44 — -- — — -- — -- — -- -- Held under repurchase agreements «- -- — -- -- -- -- -- -- -- — -- -_ Federal Agency obligations-- Held under repurchase agreements -- U. S. Government securities: Bought outright-- Bills 19,204 952 4,681 1,033 1,520 1,421 1,010 3,247 663 380 716 828 2,753 Certificates --. — -- -- -- -- -- -- -- -- -- -- -- Notes 30,501 1 ,512 7,435 1,641 2,414 2,257 1,603 5,157 1,054 604 1,138 1,314 4,372 Bonds 4,128 204 1,007 222 326 305 217 698 143 82 154 178 592 Total bought outright 53,833 2 ,668 13,123 2,896 4,260 3,983 2,830 9,102 1,860 1 ,066 2,008 2,320 7,717 Held under repurchase agreements „«. - - -.. - - - -. -- - - • _ - - - - „„ • - Total U. S. Government securities s-^fm 2 ,668 n, i23 2,896 4,260 3,983 2.830 9,102 1,860 1 ,066 2,008 2,320 7 717 : Total loans and securities 54,804 2 ,789 13,280 2,898 4,274 4,057 2,910 9,289 1,898 1 ,105 2,085 2,368 7,851 Cash items in process of collection 11,944 739 2,102 674 846 1,017 1,052 2,002 615 424 782 577 1,114 Bank premises 115 3 10 2 5 11 18 17 8 4 19 9 9 Other assets 1/ 2,362 103 771 115 188 119 132 317 75 47 89 118 288 TOTAL ASSETS 79,985 4 ,069 18,592 4,246 6,101 6,098 4,774 13,493 2,985 1 ,744 3,368 3,246 11,269 1/ 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 JUNE 4, 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 L d . o __ lla . . r r „ s . ) „ L I A B I L I T I ES Federal Reserve notes 44,944 2,593 10,377 2,603 3,630 4,081 2,360 7,977 1,672 780 1,690 1,569 5,612 Deposits: Member bank reserves 22,471 672 5,476 981 1,555 1,034 1,399 3,565 772 541 954 1,080 4,442 U. S. Treasurer—general account 297 290 ..u 1 1 * 1 1 .A. 1 2 Foreign 110 5 1/ 36 5 9 5 6 15 3 2 4 6 14 Other 432 4 2/377 1 9 2 7 1 2 3 1 25 Total deposits 23,310 681 6,179 987 1,565 1,049 1,407 3,588 77 546 961 1,083 4,483 Deferred availability cash items 9,653 695 1,489 551 730 845 834 1,610 467 373 634 484 891 Other liabilities and accrij ed dividends 487 22 134 24 36 35 24 78 16 10 17 20 71 TOTAL LIABILITIES 73,394 3,991 18,179 4,165 5,951 6,010 4,675 13,253 2,931 1,709 3,302 3,161 11,057 CAPITAL ACCOUNTS Capital paid in 656 32 171 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 305 15 82 15 25 21 17 51 9 6 11 12 41 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 79,985 L_4,069^ 18,592 4,246 6,JL01 6,098_ 4, 77^ 13,493 2,985 1,744 3,36P 3,246 11,269 Contingent liability on ac(: eptances purchased for fore:L gn correspondents ; 182 9 3/ 46 10 16 9 12 27 6 4 8 10 25 FEDERAL PvESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,686 10,890 2,661 3,841 4,176 2,512 3,242 1,742 802 1,754 1,709 5,851 Collateral for F. R. notes: Gold certificate account 165 500 300 560 515 -- 1,000 180 27 -- 5 Eligible paper U, S. Government securities 2,531 10,600 2,500 3,400 3,730 2,600 7,650 1,650 795 1,775 1,780 6,250 Total collateral 2,696 11,100 2,800 3,960 4,245 2,600 8,650 1,830 822 1,775 1,785 6,250 y After deducting $ 76 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $136 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis