H.4.1 Factors Affecting Reserve Balances of Depository Institutions

jouMhhiS. .• ot£ow>V. r 0 F E D E R AL R E S E R VE Factors Affecting Bank Rtstrvas and Condition Statomont of F.R. Banks H.4.1 For immediate release June 26, 1969 The average of daily figures of total reserves of member banks declined $86 million (net) in the latest statement week to $26,928 million. Required re serves declined while excess reserves and member bank borrowings increased moder ately. The major factors providing reserves in the latest week were a greater than seasonal rise in float, due in part to transportation delays early in the week, and a seasonal decline in currency in circulation. Offsetting some of these reserve supplies was an increase in Treasury deposits with Federal Reserve Banks. In addition, System Open Market operations absorbed about $175 million of reserves, on a weekly average basis, through both matched sale-purchase transactions and out right sales of securities. Member bank borrowings exceeded excess reserves by $1,174 million compared to the revised figure of $1,241 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 25, June 18, June 26, June 25, and related items 1969 1969 1968 1969 (In millions of dol]L ars) Reserve Bank credit: 1/ U. S. Government securities-- Bought outright—System account 53,864 174 + 2,067 53,206 Held under repurchase agreements -- -- - 146 -- Federal Agency obligations-- Held under repurchase agreements — — 66 -- Acceptances-- Bought outright 43 2 10 43 Held under repurchase agreements -- -- 65 — Discounts and advances-- Member bank borrowings 1,325 T 9 + 518 1,348 Other -- — - 13 -- Float 2,628 + 147 + 891 2,274 Other F. R. assets 2.675 + 58 + 916 2,706 Total Reserve Bank credit 60,535 + 38 + 4,091 59,577 Gold stock 10,367 -- — 10,367 Treasury currency outstanding 6,751 + 6 - 15 6,750 77,652 + 42 + 4,075 76,694 Currency in circulation 50,686 - 91 + 3,202 50,787 Treasury cash holdings 664 - 7 - 283 675 Treasury deposits with F. R. Banks 1,289 + 192 + 226 1,547 Foreign deposits with F. R. Banks 109 + 7 - 52 106 Other deposits \*ith F. R. Banks 468 + 15 - 13 458 Other F. R. liabilities and capital 1,958 + 44 + 186 1,967 55,174 + 161 + 3,266 55,540 Member bank reserves: With Federal Reserve Banks 22,478 - 118 + 809 21,154 Currency and coin 4,450 + 32 - 98 4,450 Total reserves held 26,928 - 86 + 711 25,604 Required reserves 26,777 - 162 + 1,138 26,777 Excess reserves 151 + 76 - 427 -1,173 NOTE: A net of $127 million of surplus reserves were eligible to be carried forward from the week ended June 18, into the week ending June 25. J7 Reflects $800 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. On June 25, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,252 million, an increase of $68 million for the week. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT Cf ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since June 25, June 18, June 26, 1969 1969 1968 A S S E TS Gold certificate account 10,022 Cash (608) 183 8 - 246 Discounts and advances 1,348 + 575 + 936 Acceptances: Bought outright 43 1 15 Held under repurchase agreements 71 Federal Agency obligations-- Held under repurchase agreements 56 U. S. Government securities: Bought outright-- Bills 18,577 + 243 + 454 Certificates; Notes 30, 501 +2,800 Bonds 4, 128 -- -1,927 Total bought outright 1/ 53,206 + 243 +1,327 Held under repurchase agreements -- _- 97 Total U. S. Government securities 53,206 -I- 243 +1,230 Total loans and securities 54,597 + 817 +2,024 Cash items in process of collection (2,443) 9,450 -1,024 +1,439 Bank premises 113 1 -- Other assets 2/ 2,593 + 37 + 922 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,051) 76,958 179 +4,136 LI_ABI_LI_TIE£ Federal Reserve notes (608) 44,550 30 +2,647 Deposits: Member bank reserves 21,154 + 443 + 105 U. S. Treasurer—general account 1,547 + 195 + 530 Foreign 106 -- - 92 Other 3/ 458 + 17 - 38 Total deposits 23,265 + TT5 T* ~30"5 Deferred availability cash items (2,443) 7,176 - 844 + 806 Other liabilities and accured dividends 449 - 17 + 69 TOTAL LIABILITIES (3,051) 75,440 - 236 +4, 027 C A P I T AL A C C O U N TS Capital paid in 658 1 4- 41 Surplus 630 — + 32 Other capital accounts 230 + 58 + 36 Contingent liability on acceptances purchased for foreign correspondents 170 - 6 + 56 * Figures in parentheses are the eliminations made in the consoldating process. J7 Reflects $800 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. £/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 25, 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 1,308 11 1,794 +129 16 days to 90 days 40 32 3,823 +115 91 days to 1 year 20,790 - 1 Over 1 year to 5 years 7,691 -- Over 5 years to 10 years 13,447 -- Over 10 years -- 661 _._._r_-_ Total 1,348 43 53,206 +243 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 25, 1969 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis City cisco (In million of: dollars) A S S E TS <*old certificate account 10,022 684 1,898 600 740 1,008 694 1,799 406 262 479 331 1,121 F. R. notes of other banks 608 28 208 37 38 45 64 35 24 13 21 22 73 Other cash 183 10 18 6 22 13 26 16 19 5 13 12 23 Discounts and advances 1,348 91 258 17 21 107 59 317 24 37 96 141 180 Acceptances: Bought outright 43 -- 43 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements -- -- -- -- -- -- -- -- -- _- -- -i Federal Agency obligations- Held under repurchase agreements -- U. S. Government securities: Bought outright-- Bills 18,577 921 4,528 1,000 1,470 1,375 977 3,141 642 367 693 800 2,663 e€ rtificates -- -- -- -- — -- __ -- -- -- -- -- -- 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 ~T Total bought outright 53,206 2,637 12,970 2,863 4,210 3,937 2,797 8,996 ,839 1,053 1,985 ~2 ,292 7,627 Held under repurchase agreements -- _- -- -- _- -- -- -- -- -- -- -- -_ "T Total U. S. Government securities 53.206 2.637 12.970 2.863 4.210 3 t 937 2.797 8.996 .839 1.053 _Lv9-85_ _2_, 231—. 7^697 Total loans and securities 54,597 2,728 13,271 2,880 4,231 4,044 2,856 9,313 1 ,863 1,090 2,081 2 ,433 7,807 Cash Items in process of collection 11,893 734 2,039 777 859 966 1,110 1,970 546 434 849 628 981 Bank premises 113 2 9 2 5 11 18 17 8 4 19 9 9 Other assets 1/ 2,593 116 828 127 207 133 146 354 82 51 101 129 319 TOTAL ASSETS 80,009 4,302 18,271 4,429 6,102 6,220 4,914 13,504 2 ,948 1,859 3,563 3 ,564 10,333 .1/ Includes assets denominated in foreign currencies and IMF gold deposited Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.41. (c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 25, 1969 Ne%7 Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) LI_ABI.LI_TI.Ei Federal Reserve notes 45,158 2,622 10,412 2,625 3,648 4,122 2,389 7,993 1,679 787 1,691 1,590 5,600 Deposits: Mamber bank reserves 21,154 813 5,079 982 1,490 1,061 1,376 3,497 695 592 974 1,221 3,374 U. S. Treasurer—general account 1,547 102 284 102 64 131 82 154 61 73 123 144 227 Foreign 106 5 1/ 32 5 9 5 6 15 3 2 4 6 14 Other 458 1/421 1 -- 7 2 5 1 2 2 1 16 Total deposits 23,265 920 5,816 1,090 1,563 1,204 1,466 3,671 760 669 1,103 1,372 3,631 Deferred availability cash items 9,619 665 1,536 613 721 779 939 1,538 442 361 689 500 836 Other liabilities and accrued dividends 449 22 111 24 36 33 25 74 15 17 20 63 TOTAL LIABILITIES 78,491 4,229 17,875 4,352 5,968 6,138 4,819 13,276 2,896 1,826 3,500 3,482 10,130 CAPITAL ACCOUNTS Capital paid in 658 31 175 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 230 11 61 11 19 16 13 39 7 4 8 9 32 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 80,009 4,302 18,271 4,429 6,102 6,220 4,914 13,504 2,948 1,859 3,563 3,564 10,333 Contingent liability on accept ances purchased for foreign correspondents 170 8 3/ 43 15 11 25 10 23 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 47,237 2,714 10,958 2,703 3,873 4,224 2,540 8,258 1,758 815 1,767 1,743 5,884 Collateral for F. R. notes: Gold certificate account 3,287 200 500 300 560 515 -- 1,000 180 27 -- 5 Eligible paper U. S. Government securities 45,361 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 48,648 2,731 11,100 2,800 3,960 4,285 2,600 8,650 1,830 832 1,825 1,785 6,250 1/ After deducting $ 74 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