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 12, 1969 The average of daily figures of total reserves of member banks declined (net) $203 million in the latest statement week to $27,373 million. Required reserves declined substantially reflecting reductions in deposits in late May. A seasonal rise in currency in circulation and an increase in Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves. Partially offsetting these reserve drains was an increase in float, of about seasonal proportion. System Open Market operations provided reserves, on a weekly average basis. Outright holdings of U. S. Government securities increased, on average, although some reserves were absorbed near the end of the week by matched salepurchase transactions. Excess reserves rose moderately in the latest week, while member bank borrowings declined $262 million to a level of $1,260 million. Borrowings exceeded excess reserves by $906 million, compared to the revised figure of $1,224 million for the previous week. Averap; es of daily i: igur es Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 11, June 4, June 12, June 11, and related items 1969 1969 1968 1969 (In millions c> f dollars) Reserve Bank credit: l y U. S. Government securities- Bought outright--System account 53,920 + 284 + 3,311 53,798 Held under repurchase agreements 151 - 28 - 110 — Federal Agency obligations-- Held under repurchase agreements 29 20 — — Acceptances-- Bought outright 44 1 7 46 Held under repurchase agreements 12 9 14 -- Discounts and advances- Member bank borrowings 1,260 262 + 582 502 Other -- -- - 13 -- Float 2,341 + 142 + 765 2,113 Other F. R. assets 2,560 + 52 - 58 2,592 Total Reserve Bank credit 60,318 + 159 + 4,458 59,051 Gold stock 10,367 -- -- 10,367 Treasury currency outstanding 6,744 -- 50 6,744 77,429 + 159 + 4,408 76,162 Currency in circulation 50,666 + 230 + 3,160 50,845 Treasury cash holdings 679 - 17 - 325 678 Treasury deposits with F. R. Banks 734 + 234 - 122 899 Foreign deposits with F. R. Banks 102 - 3 - 55 91 Other deposits with F. R. Banks 448 + 1 - 9 435 Other F. R. liabilities and capital 2,123 + 71 + 284 2,127 54,751 + 514 + 2,933 55,075 Member bank reserves: With Federal Reserve Banks 22,678 - 355 + 1,475 21,087 Currency and com 4,695 + 152 + 498 4,695 Total reserves held 27,373 - 203 + 1,973 j 25,782 Required reserves 27,019 - 259 + 1,929 27,019 Excess reserves 354 + 56 + 44 1 -1,237 NOTE: A net of $171 million of surplus reserves were eligible to be carried forward from the week ended June 4, into the week ending June 11. 1/ Reflects $500 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. On June 11, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,838 million, a decrease of $545 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 CIna nge since June 11, June 4, June 12, 1969 1969 1968 A S S E TS Gold certificate account 10,022 — 3 Cash (518) 189 • 5 - 230 Discounts and advances 502 - 425 37 Acceptances: Bought outright 46 2 7 -- __ 55 Held under repurchase agreements Federal Agency obligations— 65 Held under repurchase agreements U. S. Government securities Bought outright- Bills 19,169 35 +2,076 Certificates Notes 30,501 -- +2,875 Bonds 4,128 -- -1,895 Total bought outright 1/53,798 - 35 +3,056 Held under repurchase agreements -- -- - 650 Total U. S. Government securities 53,798 - 35 +2,406 Total loans and securities 54,346 - 458 +2,242 Cash items in process of collection (2,108) 8,977 - 543 +1,067 Bank premises 114 - 1 + 1 Other assets 2/ 2,478 + 116 + 46 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,626) 767T25 ~ ~S9~I +3,123 h I A B IL IT IE £ Federal Reserve notes (518) 44,623 + 223 +2,683 Deposits: Member bank reserves 21,087 -1, 386 - 858 U. S. Treasurer--general account 899 + 602 + 394 Foreign 91 - 19 52 Other 3/ (3) 435 .j. 3 18 Total deposits (3) 22,512 - 800 - 534 Deferred availability cash items (2,105) 6,864 - 363 + 526 Other liabilities and accrued dividends 475 -__ 12 + 102 TOTAL LIABILITIES (2,626) 74,474 952 +2, 777 <± L t l! kl± A C C O U N TS Capital paid in 659 3 + 44 Surplus 630 -_ + 32 Other capital accounts 363 58 + 270 Contingent liability on acceptances purchased for foreign correspondents 178 - 4 59 Figures in parentheses are the eliminations made in the consolidating process• 1/ Reflects $500 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. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 11, 1969 (Acceptances and securities held under repurchase agreements are classified as maturing v/ithin 15 days in accordance with maximum maturity of the agreements.) Dis counts and Federal A,2 ;ency obl igations advances Acceptances Holdings We ekly changes Within 15 days 488 11 2,020 -198 16 days to 90 days 14 35 9,179 -137 91 days to 1 year -- -- 20,300 +300 Over 1 year to 5 ye. ars -- -- 7,691 -- Over 5 years to 10 years -- -- 13,447 -- Over 10 years .. -~ 661 -- Total 502 46 53,798 - 35 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 11, 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 10,022 648 3,262 489 737 965 465 1,150 268 201 352 225 1,260 F. R. notes of other banks 518 27 190 27 29 34 62 29 17 7 18 17 61 Other cash 189 10 19 7 22 15 27 18 18 5 13 11 24 Discounts and advances 502 77 84 24 13 20 71 55 17 14 61 24 42 Acceptances: Bought outright 46 • -. 46 -- -- -- — __ -- -- -- -- -- Held under repurchase agreements Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 19,169 951 4,673 1,031_ 1,517 1,418 1,008 3_, 241 662 379 715 826 2,748 Certificates Hotes 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 .. 4,12.8_ 204 -U0HZ_ __2_2_2_ ML. __^0_5_. 217 698 143 82 154 178 592 Total bought outright 53,798 2,667 13,115 2,894 4,257 3,980 2,828 9,096 1,859 1,065 2,007 2,318 7,712 Held under repurchase agreements Total U. S. Government securities 53 ,,798 2.667 13.115 2.894 4.257 3.980 2.828 9.096 1,859 1,065 2.007 2,318 7,712 Total loans and securities 54,346 2,744 13,245 2,918 4,270 4,000 2,899 9,151 1,876 1,079 2,068 2,342 7,754 Cash items in process of collection 11,085 665 1,972 589 748 900 1,015 1,946 547 424 727 599 953 Bank premises 114 3 9 2 5 11 18 17 8 4 19 9 9 Other assets J7 2.478 110 799 121 198 126 139 3J6_ _Z9_ _-5_L. J24_ 3JQ2- TOTAL ASSETS 78,752 4,207 19,496 4,153 6,009 6,051 4,625 12,647 2,813 1,771 3,290 3,327 10,363 !_/ 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 11, 1969 New Phila Cleve Rich St. Minne Kansas San Total | Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In million of dollars) L I A B I L I T I ES Federal Reserve notes 45,141, 2,608 10,386 2,613 3,649 4,102 2,387 8,008 1,682 789 1,702 1,586 5,629 Deposits: Member bank reserves 21,087 878 5,778 933 1,510 1,046 1,263 2,852 625 573 893 1,133 3,603 U. S. Treasurer—general account 899 892 1 1 * 1 1 a. * 1 2 Foreign 91 5 1/ 17 5 9 5 6 15 3 2 4 6 14 Other 438 1/397 1 9 2 4 1 2 3 1 18 Total deposits 22,515 883 7,084 940 1,520 1,060 1,271 2,872 630 577 900 1,141 3,637 Deferred availcibility cash items 8,969 612 1,480 493 658 765 840 1,439 429 359 603 493 798 Other liabilities and accui• ed dividends 4751 23 115 23 37 33 25 79 16 10 17 19 78 TOTAL LIABILITIES 77,100' 4,126 19,065 4,069 5,864 5,960 4,523 12,398 2,757 1,735 3,222 3,239 10,142 CAPITAL ACCOUNTS Capital paid in i 659 31 175 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 ! 363 19 96 18 30 24 20 60 11 7 13 15 50 TOTAL LIABILITIES /ND CAPITAL ACCOUNTS 78,752 4,207 19,496 4,153 6,009 6,051 4,625 12,647 2,813 1,771 3,290 3,327 10,363 Contingent liability on ace: eptances purchased for forei- gn correspondents | 178 9 3/ 45 9 16 9 12 26 6 4 8 10 24 FEDERAL RESERVE AGENTS' ACCOUNTS F„ R. notes outstanding 2,682 10,893 2,671 3,859 4,203 2,537 8,248 1,758 808 1,762 1,712 5,877 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 1/ After deducting $ 74 million participations of other Federal Reserve Banks. * Less than $500,000. 27 Includes IMF gold deposit'^ Digitized3 f/or FR/AfStEeRr deducting $133 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis