H.4.1 Factors Affecting Reserve Balances of Depository Institutions

>J£5&. FEDERAL RESERVE statistical release '•?$£§&?•• H.4.1 For immediate release July 31, 1969 The average of daily figures of total reserves of member banks declined $615 million (net) in the latest week to $26,537 million. Required reserves declined reflecting the mid July runoff in member bank deposits. Excess reserves also declined from the high level of the previous week. A seasonal decline in currency in circulation which provided reserves, was more than offset by a sharp decline in float of somewhat greater than seasonal proportions. System Open Market operations absorbed nearly $300 million reserves, on a weekly average basis. About three-fourths of these reserves were absorbed through matched sale-purchase transactions near the end of the week, and over $1.2 billion of such transaction were outstanding on the last day of the statement week. Member bank borrowings were about unchanged from the average level of recent weeks and exceeded excess reserves by $1,194 million compared to the revised figure of $1,001 million for the previous week. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 30, July 23, July 31, July 30, and related items 1969 1969 1 ;L 968 1969 (In nn illions of dollars) Reserve Bank credit: 1/ U. S. Government securities— Bought outright--System account 53,897 _ 264 +1, 813 52,983 Held' under repurchase agreements -- - 23 - 34 -- Federal Agency obligations-- Held under repurchase agreements -- 5 -- -- Acceptances— 41 + 1 _ 17 41 Bought outright Held under repurchase agreements — - 3 - 48 -- Discounts and advances Member bank borrowings 1,273 82 + 671 985 Other -- -- - 13 -- Float 2,155 - 962 + 528 2,096 Other F. R. assets 2,690 + 56 + 582 2.710 Total Reserve Bank credit 60,056 -1, 282 +3, 482 58,815 Gold stock 10,367 -- — 10,367 Treasury currency outstanding 6,737 + 2 + 18 6,736 77,160 -1, 280 +3, 499 75,918 "Currency in circulation 51,006 - 202 +3, 155 51,118 Treasury cash holdings 676 + 15 - 150 683 Treasury deposits with F. R. Banks 1,177 - 7 + 144 1,227 Foreign deposits with F. R. Banks 123 - 14 - 32 121 Other deposits with F. R. Banks 453 - 4 + 10 465 Other F. R. liabilities and capital 2,019 + 56 + 229 2,028 55,455 - 156 +3, 357 55,642 Member bank reserves: With Federal Reserve Banks 21,704 -1, 126 + 142 20,276 Currency and coin 4,833 + 511 + 209 4,833 Total reserves held 26,537 - 615 + 351 25,109 Required reserves 26,458 - 340 + 630 26,458 Excess 79 - 275 - 279 -1,349 NOTE: A net of $181 million of surplus reserves were eligible to be carried forward from the week ended Jjuly 23, into the week ending July 30. 1/ Reflects $1,155 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. On July 30, 1969>-U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,450 million, a decrease of $131 million for the week. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(a) CONSOLIDATED STATEMENT OF CONDITIO!! OF ALL FEDERAL RESERVE SANKS (In millions of dollars) Tlednesdayl Change since July 30, July 23, July 31, 1959 19:9 1968 A S S E TS 10,027 Gold certificate account Cash (713) 155 3 213 Discounts and advances 985 32 249 Acceptances- Bought outright 41 15 43 Held under repurchase agreements Federal Agency obligations-- Ileld under repurchase agreements U. S. Government securities: 3ought outright-- Bills 13,287 686 23 Certificates Notes 30,553 -- +2,807 Bonds 4,143 — -1,951 Total bought outright 1/ 52,983 - 085 + 823 Held under repurchase agreements -- — - 237 Total U. S. Government securities 52,983 - 585 + 585 Total loans and securities 54,009 - 718 + 777 Cash items in process of collection (2,401) 8,653 + 150 + 958 Bank premises 114 -- + 1 Other assets 2/ 2,595 + 39 + 555 TOTAL ASSETS/LIABILITIES 6: CAPITAL ACCOUNTS (3,114) 75,555 - 532 +rjm L I A B I L I T I ES Federal Reserve notes (713) 44,881 74 +2,783 Deposits* Member bank reserves 20,275 -1, 025 -1,425 U. S, Treasurer--general account 1,227 + 135 + 114 Foreign 121 - 17 - 81 Other 3/ (2) 465 14 14 Total deposits (2) 22,089 - 393 -1,407 Deferred availability cash items (2,399) 6,557 + 384 + 520 Other liabilities and accrued dividends 452 - 10 + 77 TOTAL LIABILITIES (3,114) 73,979 - 593 "+ITS73 C..A P I 1 AL A C C O U N TS 662 + 44 Capital paid in «• mt 630 -- + 32 Surplus 234 + 61 + 51 Other capital accounts Contingent liability on acceptances purchased for foreign correspondents 152 2 4- 24 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Reflects$l,l55million of securities sold, and scheduled to be bought back, under matched sale-purchased transactions. 2/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF Hold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 30, 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 965 0 1,719 -661 15 days to 90 days 20 33 3,859 - 48 91 days to 1 year 20,543 + 23 Over 1 year to 5 years 7,715 Over 5 years to 10 years 13,471 Over 10 years 671 Total 935 41 52,983 -686 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 30, 19G9 New Phila Cleve Rich St. Minne- Kansas S^n Total Boston York delphia land mond Atlanta Chicago Louis ap<D lis City Da lias Francisco (In millions of dollars) A S S E TS Gold certificate account 10,027 596 2,087 559 867 921 541 1,848 365 198 424 373 1,248 F. R. notes of * ther banks 713 52 194 60 41 55 76 32 32 25 24 23 99 Other cash 156 8 13 6 19 12 23 13 17 3 12 10 20 Discounts and advances 985 64 229 2 29 118 64 221 50 21 55 49 83 Acceptances: Bought outright VI -- 41 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements — -- -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Held under repurchase agreements — U. S. Government securities: Bought outright- ; Bills 18,287 925 4,528 976 1,42b 1,372 992 2,996 658 373 703 774 2,564 Certificates -- -- -- -- -- -- -- -- -- -- -- -- -- Notes 30,553 ] I ,54? 7,565 1,630 2,382 2,292 1,658 5,005 1,100 623 1,174 1 ,293 4,284 Bonds i 4,143 210 1,026 221 323 311 225 679 149 84 159 175 581 Total bought outright 52,983 2 ,682 13,119 2,827 4,131 3,975 2,875 8,68) 1,907 ___, 080 2,036 T ,242 7,429 Held under repurchase agreements " -- -- -- -- -- -- -- -- -- — -- -- Total U. S. Government securities 52.983 ~ S82 13,119 2,327 4.131 3,975 2,875 8.680 1.907 "T>0 80 2,036 242_ 7.429 ' t t Total loans ind securities 54,009 2 ,746 13.389 2,829 4,160 4,093 2,939 8,901 1,957 I ,101 2,091 " 2 ,291 7,512 Cash items in process of collection 11,054 681 1,952 597 823 903 1,018 1,805 520 406 730 524 995 Bank premises 114 2 9 2 5 11 18 17 8 5 19 9 9 Other assets 1/ 2,595 116 827 125 1 205 138 145 1 358 84 53 98 127 320 TOTAL ASSETS 78,669 4 ,201 18,471 4,178 6,120 6,133 4,760 12,974 2,983 I ,791 3,398 3 ,457 10,203 .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 JULY 30, 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 dollars) L I A B I L I T I ES Federal Reserve notes 45,594 2,639 10,520 2,644 3,699 4,150 2,411 8,080 1,691 789 1,712 1,625 5,634 Deposits: 20,276 757 5,376 846 1,448 972 1,275 2,997 711 534 900 1,123 3,337 Member bank reserves U. S. Treasurer—general account i 1,227 82 214 83 85 121 87 88 81 69 123 84 110 121 5 1/ 39 6 10 6 7 16 4 2 5 6 15 Foreign 1 467 2/420 1 2 11 2 4 1 2 3 2 19 Other Total deposits 22,091 844 15,049 93d 1,545 T..TIO 1,371 3,105 797 607 1,031 1,215 3,<481 Deferred availability cash items 8,956 619 1,376 495 703 755 856 1,481 425 351 573 512 810 Other liabilities and accnl ed dividends 452 23 112 22 35 33 24 72 16 10 17 20 68 TOTAL LIABILITIES 77,093 4,125 18,057 4,097 5,982 6,048 4,662 12,738 2,929 1,757 3,333 3,372 9,993 CAPITA!, ACCOUNTS Capital paid in 662 31 176 34 59 33 42 98 23 15 28 37 86 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 284 14 78 14 23 19 16 45 9 5 10 12 39 TOTAL LIABILITIES AND 178,669 [ 4,201 18,471 4,178 6,120 6,133 4,760 12,974 2,983 1,791 3,398 3,457 10,203 CAPITAL ACCOUNTS Contingent liability on ace: eptances purchased for fore:L gn correspondents | 152 7 3/ 39 8 14 8 10 22 5 3 6 9 21 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,746 11,065 2,735 3,938 4,260 2,558 8,358 1,778 821 1,795 1,758 5,926 Collateral for F. R. notes: Gold certificate account 200 500 300 560 535 — 1,000 155 27 — 5 Eligible paper U. S. Government securities 2,601 10,800 2,600 3,500 3,810 2,650 7,650 1,700 815 1,825 1,780 6,250 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 1/ After deducting $82 million p ^rticipations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. irticipations of other Federal Reserve Banks. ~ 3/ After deducting $113 million p Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis