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 19, 1969 The average of daily figures of total reserves of member banks declined $423 million in the latest statement week to $26,984 million. Required reserves and excess reserves declined while member bank borrowings increased slightly. In the latest week reserves were supplied through a seasonal increase in float and a decline in Other Federal Reserve liabilities and capital. More than offsetting these reserve supplies were increases in currency in circulation and Treasury deposits with Federal Reserve Banks. System Open Market operations absorbed a moderate amount of reserves on weekly average as the Account Manager undertook sizable matched sale-purchase transaction near the end of the week. Excess reserves declined sharply in this the tax payment week, and averaged less than $50 million. In part this decline reflects use of some of the more than $200 million surplus reserves eligible to be carried forward from the week ending June 11. Member bank borrowings exceeded excess reserves by $1,271 million compared to the revised figure of $872 million for the previous week. Average! S Of 1d aily figures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, June 18, June 11, June 19, June 18, and related items 1969 1969 1968 1969 (In millions of dollars) Reserve Bank credit: 1/ U. S. Government securities-- Bought outright—System account 54,038 + 118 + 3,188 52,963 Held under repurchase agreements -- - 151 - 108 -- Federal Agency obligations-- Held under repurchase agreements — 29 15 — Acceptances— Bought outright 45 + 1 7 44 Held under repurchase agreements -- - 12 - 23 — Discounts and advances-- Member bank borrowings 1,316 + 56 + 652 773 Other -- -- - 13 -- Float 2,451 + 75 + 639 2,433 Other F. R. assets 2,617 + 57 + 198 2.670 Total Reserve Bank credit 60,467 + 115 + 4,511 58,883 Gold stock 10,367 — — 10,367 Treasury currency outstanding 6,745 + 1 - 22 6,747 77,579 + 116 + 4,474 75,997 Currency in circulation 50,777 + 111 + 3,203 50,809 Treasury cash holdings 671 - 8 - 311 671 Treasury deposits with F. R. Banks 1,097 + 363 + 25 1,352 Foreign deposits with F. R. Banks 102 — - 44 106 Other deposits with F. R. Banks 453 + 5 + 2 441 Other F. R. liabilities and capital 1,914 - 209 + 210 1,927 55,013 + 262 + 3,084 55,306 Member bank reserves: With Federal Reserve Banks 22,566 - 146 + 1,390 20,690 Currency and coin 4,418 - 277 - 3 4,418 Total reserves held 26,984 - 423 + 1,387 25,108 Required reserves 26,939 - 80 + 1,608 26,939 Excess reserves 45 - 343 - 221 -1,831 NOTE: A net of $207 million of surplus reserves were eligible to be carried forward from the week ended June 11, into the week ending June 18. 1/ Reflects $1,350 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. On June 18, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,184 million, a decrease of $654 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 13, June 11, June 19, 1969 1969 1968 A S S E TS Gold certificate account 10,022 «. •» 3 Cash (575) 191 -:- 2 - 238 Discounts and advances 773 •!- 271 -1,179 Acceptances: Bought outright 44 2 9 Held under repurchase agreements -- -- 50 Federal Agency obligations- Held under repurchase agreements 64 U. S. Government securities: Bought outright- Bills 18,334 835 * 486 Certificates Notes 30,501 -- +2,875 Bonds 4,128 -- -1,895 Total bought outright } '52,963 - 835 +1,466 Held under repurchase agreements -- -- - 138 Total U. S. Government securities 52,963 - 835 +1,328 Total loans and securities 53,780 - 566 + 26 Cash items in process of collection (2,355) 10,453 -1-1,438 +1,569 Bank premises 114 -- + 1 Other assets 2/ 2,556 -:- 78 + 922 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,430) 77,116 -:- 952 +2,277 L I A B I L I T I ES Federal Reserve notes (575) 44,580 43 +2,679 Deposits: Member bank reserves 20,690 • 435 -1,617 U. S. Treasurer—general account 1,352 - 453 + 175 Foreign 106 - 15 - 54 Other 3/ 441 6 18 Total deposits 22,539 : - 39 -1,514 Deferred availability cash items (2,855) 8,020 -1,156 + 916 Other liabilities and accrued dividends 466 9 + 94 TOTAL LIABILITIES (3,430) 75,655 -1,143 +2,175 C A P I T AL A C C O U N TS Capital paid in 659 + 43 •m mm Surplus 630 -- + 32 Other capital accounts 172 191 + 27 Contingent liability on acceptances purchased for foreign correspondents 176 - 2 -I- 61 * Figures in parentheses are the eliminations made in the consolidating process, 1/ Reflects $1,350million of securities sold, and scheduled to be bought back under matched sale-purchase transactions, j?/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit, MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 18, 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 advancea s Acceptances Holdings Weekly changes Within 15 days 762 11 1,665 -355 16 days to 90 days 11 33 8,703 -471 91 days to 1 year „ «- 20,791 - 9 Over 1 year to 5 years — — 7,691 «- Over 5 years to 10 yearss _- 13,447 _« Over 10 years — -- 661 — Total 773 44 52,963 -835 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 18, 1969 ' San New Phila Cleve Rich St. Minne Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Da lias Fran cisco (In millions of dollars) A S S E TS Gold certificate account 10,022 737 2,591 525 647 974 511 1,704 367 187 420 193 1,166 F. R. notes of other banks 575 32 202 35 32 41 64 33 19 10 21 20 66 Other cash 191 10 19 6 22 15 27 18 19 5 14 12 24 Discounts and advances 773 81 214 2 11 12 81 62 30 16 52 96 116 Acceptances: Bought outright 44 — 44 -- -- -- -- -- -- -- -- -- Held under repurchase agreements — -- -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Held under repurchase agreements -- U. S. Government securities: Bought outright-- Bills 18,334 909 4,469 987 1,451 1,357 964 3,100 633 362 683 790 2,629 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 i 4,128 204 1,007 222 326 305 217 698 143 82 154 178 592 Total bought outright 52,963 2,625 12,911 2,850 4,191 3,919 2 ,784 8,955 1,830 1 ,048 1,975 2 ,282 7,593 Held under repurchase agreements -- -- -- -- __ -- -- -- -- -- -- -- -_ Total U. S. Government securities 52.963 2,625 12,911 2,850 4,191 3,919 2 ,784 8,955 1,830 1 ,048 1,975 2 ,282 7,593 Total loans and securities 53,780 2,706 13,169 2,852 4,202 3,931 2 ,865 9,017 1,860 1 ,064 2,027 2 ,378 7,709 Cash items in process of collection 13,308 742 2,388 766 1,033 1,098 1 ,176 2,246 665 488 844 677 1,185 Bank premises 114 3 9 2 5 11 18 17 8 4 19 9 9 Other assets 1/ 2,556 112 815 123 203 129 144 346 81 58 97 137 311 TOTAL ASSETS 80,546 4,342 19,193 4,309 6,144 6,199 4 ,805 13,381 3,019 1 ,816 3,442 3 ,426 10,470 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 18, 1969 New Phila Cleve Rich - • — St. Minne Kans as 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 45,155 2,611 10,399 2,627 3,652 4,100 2,388 3,007 1,631 789 1,699 1,588 5,614 Deposits: Member bank reserves 20,690 779 4,763 960 1,459 1,060 1,314 3,322 750 561 967 1,179 3,576 U. S. Treasurer--general account 1,352 1,344 1 * * * i 1 1 1 1 2 Foreign 106 5 1/ 32 5 9 5 6 15 3 2 4 6 14 Other 441 2 396 2 - -9 2 4 4 1 3 1 17 Total deposits 22,539 786 6,535 968 1,468 1,074 1,322 3,342 758 565 975 1,187 3,609 Deferred availability cash items 10,875 852 1,764 617 858 914 979 1,738 515 420 690 552 976 Other liabilities and accrvl ed dividends 466 22 113 23 36 34 24 76 15 10 17 19 77 TOTAL LIABILITIES • 79,085 | 4,271 18,811 4,235 6,014 6,122 4,713 13,163 2,969 1,784 3,381 3,346 ]L 0,276 CAPITAL ACCOUNTS Capital paid in 659 32 175 33 59 33 42 96 23 15 28 37 86 Surplus | 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 172 47 8 15 11 10 29 5 3 6 7 23 i O TOTAL LIABILITIES AND CAPITAL ACCOUNTS 80,546 i 4,342 19,193 4,309 6.144 6,199 4,305 13,331 3,019 1,316 3,442 3,426 :L P,470 Contingent liability on ace: eptances purchased for fore]-g n correspondents 176 8 3/ 45 9 16 9 11 26 6 4 3 10 24 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,712 10,906 2,688 3,386 4,198 2,543 3,236 1,765 816 1,769 1,721 5,909 Collateral for F. R. notes: Gold certificate account 200 500 300 560 515 -- 1,000 180 27 5 Eligible paper U. S. Government securities 2,531 10,600 2,500 3,400 3,770 2,600 7,650 1,650 805 1,825 1,780 6,250 Total collateral 2,731 11,100 2,300 3,960 4,285 2,600 3,650 1,830 832 1,825 1,785 6,250 V After deducting $ 74 million participations of other Federal Reserve Banks. Less than $500,000. 2/ Includes IMF gold deposit. 3/ After deducting $131 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis