H.4.1 Factors Affecting Reserve Balances of Depository Institutions

••£&£& F E D E R AL R E S E R VE s t a t i s t i c al r e l e a se * ? ^ ^' H.4.1 For immediate release July 10, 1969 The average of daily figures of total reserves of member banks declined $379 million (net) in the latest statement week to $27,093 million. Required reserves in creased seasonally while excess reserves and member bank borrowings declined. A major factor draining reserves in the latest reserve week was the seasonal increase in currency in circulation usually associated with the Independence Day holiday. Partially offsetting this reserve drain was an increase in float of some what greater than seasonal proportions. System Open Market operations provided reserves, on balance, on a weekly average basis, although sizable matched sale-purchase trans actions were made at the end of the week. Member bank borrowings declined from the high level of the previous week and exceeded excess reserves by $1,000 million, compared to the revised figure of $1,166 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 9, July 2, July 10, July 9, and related items 1969 1969 1968 1969 (In mi. llions of dollars) Reserve Bank credit: 1/ U. S. Government securities— Bought outright—System account 54,443 + 399 + 2 ,240 53,715 Held under repurchase agreements 119 + 2 + 44 -- Federal Agency obligations-- Held under repurchase agreements 24 29 _l_ 20 — Acceptances— Boutht outright 42 — «. . 16 41 Held under repurchase agreements 14 5 + 6 — Discounts and advances-- Member bank borrowings 1,019 615 + 607 659 Other -- — - 13 -- Float 2,724 + 327 + 698 2,556 Other F. R. assets 2,677 + 5 + 417 2,716 Total Reserve Bank credit 61,062 + 83 + 4 ,002 59,687 Gold stock 10,367 -- — 10,367 Treasury currency outstanding 6,740 - 5 + 16 6,739 78,169 + 77 + 4 ,019 76,793 Currency in circulation 51,383 + 473 + 3 ,116 51,592 Treasury cash holdings 646 - 12 - 191 638 Treasury deposits with F. R. Banks 1,052 - 16 + 149 1,104 Foreign deposits with F. R. Banks 176 + 48 - 5 139 Other deposits with F. R. Banks 495 + 4 + 5 487 Other F. R. liabilities and capital 2,112 + 90 + 244 2,106 55,865 + 588 + 3 ,319 56,066 Member bank reserves: With Federal Reserve Banks 22,305 - 510 + 701 20,727 Currency and coin 4,788 + 131 + 566 4,788 Total reserves held 27,093 - 379 + 1 ,267 25,515 Required reserves 27,074 + 70 + 1 ,681 27,074 Excess reserves 19 - 449 - 414 -1,559 NOTE: A net of $267 million of surplus reserves were eligible to be carried forward from the week ended July 2, into the week ending July 9. 1/ Reflects $850 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. On July 9, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,541 million, a decrease of $169 million for the week. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Uednesday Change since July 9, July 2, July 10, 1969 1969 1968 A S S E TS Gold certificate account 027 + 2 Cash (517) 172 - 7 - 230 Discounts and advances 659 + 98 + 296 Acceptances: Bought outright 41 2 17 Held under repurchase agreements Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright- Bills 19,019 447 + 831 Certificates Notes 30,553 + 52 +2,807 Bonds 4,143 Jh_ 15 -1,961 Total bought outright 1/ 53,715 - 380 +1,677 Held under repurchase agreements Total U. S. Government securities 53,715 _r_ 380 +1.677 Total loans and securities 54,415 - 284 +1,956 Cash items in process of collection (2,380) 9,774 - 422 +1,875 Bank premises 114 + 1 _~ Other assets 2/ 2,602 + 59 + 306 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,897) 77,104 - 653 +3.909 1 I A 1It 11I 2 S Federal Reserve notes (517) 45,323 + 274 +2,775 Deposits: Member bank reserves 20,727 - 417 - 370 D. S. Treasurer--general account 1,104 + 109 + 207 Foreign 139 - 11 16 Other 3/ 487 30 + 21 Total deposits 22,457 - 349 - 158 Deferred availability cash items (2,380) 7,218 638 +1 ,061 Other liabilities and accrued dividends 465 + 1 + 98 TOTAL LIABILITIES (2,897) 75,463 — 712 +3 ,776 £ A Z I 1 £ L A £ £ 0 U N TS Capital paid in 661 .. + 44 Surplus 630 -- + 32 Other capital accounts 350 h 59 + 57 Contingent liability on acceptances purchased for foreign correspondents 159 - 3 + 53 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Reflects $850 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, JULY 9. 1969 (Acceptances and securities held under repurchase agreements are classified as maturing v?ithin 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities and Discounts and Federal Agency obligations advancet s Acc epfances Holdings Weekly changes Uithin 15 days 643 9 2,227 + 12 16 days to 90 days 16 32 8,986 -312 91 days to 1 year -- -- 20,645 -138 Over 1 year to 5 yea rs -- -- 7,715 + 24 Over 5 years to 10 years -- -- 13,471 + 24 Over 10 years -- ,,.,. 671 + 10 Total 659 41 53,715 •380 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 JULY 16, 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 10,027 648 2,227 451 849 867 476 1,575 158 123 294 276 2,083 F, IL notes of other banks 590 34 178 53 30 49 57 31 23 16 25 20 74 Other cash 167 9 15 6 20 13 23 15 18 4 13 10 21 Discounts and advances 2,085 64 473 59 31 US 94 474 147 50 95 163 319 Acceptances: Bought outright 41 41 Held under repurchase agreements 20 20 Federal Agency obligations - Held under repurchase agreements 65 65 IK S. Government securities. Bougltt outnght— Biils 19,869 1,005 4,920 1,060 1,549 1,491 1,078 3,255 715 405 764 841 2,786 ^Certificates Noties 30,553 1,547 7,565 1,630 2,382 2,292 1,658 5,005 1,100 623 1,174 1,293 4,284 Bonds 4,143 210 1,026 221 323 311 225 679 149 84 159 175 581 Total bought outright 54,565 2,762 13,511 2,911 4,254 4,094 2,961 8,939 1,964 1,112 2,097 2,309 7,651 Held under repurchase agreements 191 191 Total U. S. Government securities 54^756 2,762 13,702 2,911 4,254 4,094 2,961 8,939 1,964 1.112 2,097 2.309 __7.,.65_1........ Total loans and securities 56,967 2,826 14,301 2,970 4,285 4,210 3,055 9,413 2,111 1,162 2,192 2,472 7,970 Cash items in process of collection 13,558 835 2,247 714 1,006 1,083 1,163 2,354 700 499 905 775 1,277 Bank premises S H4 2 9 2 5 11 18 17 8 5 19 9 9 Other assets JL/ 2,495 112 800 121 197 132 139 341 80 50 95 122 106_ TOTAL ASSETS 83,918 4,465 19,777 4,317 6,392 6,365 4,931 13,746 3,098 1,859 3,543 3,684 11,740 1/ Includes assets denominated in foreign currencies and IMF gold deposited. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 16, 1969 11.4.1(c) 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 dollars) L I A B I L I T I E S. Federal Reserve notes 45,783 2,664 10,531 2,656 3,708 4,162 2,435 8,105 1,700 794 1,717 1,626 5,685 Deposits: Member bank reserves 23,581 883 6,497 893 1,556 1,037 1,320 3,363 691 544 924 1,268 4,605 U. S. Treasurer--general account 1,088 69 114 74 80 112 79 115 77 56 96 78 138 116 5 V 34 6 10 6 7 16 4 2 5 6 15 Foreign 464 2 2/407 1 2 U. 2 5_ 1 _ 2 12 3 16 Other 25,249 959 7,052 974 1,648 1,166 1,408 3,499 773 604 1,037 1,355 4,774 Total deposits 10,947 750 1,686 588 873 925 973 1,852 559 418 710 603 1,010 Deferred availability cash items Other liabilities and accrued 481 23 124 24 35 35 24 _ 74 16 .11 18_ 20 UL dividends 82,460 4,396 19,393 4,242 6,264 6,288 4,840 13,530 3,048 1,827 3,482 3,604 11,546 TOTAL LIABILITIES CAPITAL ACCOUNTS •Capital paid in 662 32 176 34 59 33 42 97 23 15 28 37 86 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 166 _L 48 8 13 11 9 26 _5_ _3_ __6_ TOTAL LIABILITIES AND 83,918 4,466 19,777 4,317 6,392 6,365 4 931 13,746 3,098 1,859 3,543 3,684 11,740 CAPITAL ACCOUNTS Contingent liability on accept ances purchased for foreign correspondents 155 7 3/ 39 14 8 10 23 21 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,769 11,109 2,745 3,931 4,277 2,581 8,373 1,792 817 1,795 1,758 5,974 Collateral for F. R. notes: Gold certificate account 200 500 300 560 535 1,000 155 27 5 Eligible paper 2.601 10.800 2.600 3.500 3.810 2.650 7.650 1.700 815 1.825 1.780 6.250 U. S. Government securities Total collateral 2,801 11,300 2,900 4,060 4,345 2,650 8,650 1,855 842 1,825 1,785 6,250 y—After deducting $82 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 1/ After deducting $116 million participations of other Federal R serve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis