H.4.1 Factors Affecting Reserve Balances of Depository Institutions

qEGojA** F E D E R AL R E S E R VE factors Affecting Bonk Rtstrvts aid Condition Stattmtnt of F.R. Banks H.4.1 For immediate release August 28, 1969 The average of daily figures of total reserves of member banks declined $270 million (net> in the latest week to $26,868 million. Required reserves de clined sharply while excess reserves increased moderately from the average level of the previous week. Member bank borrowings were about unchanged. An increase in Treasury deposits at Federal Reserve Banks and a somewhat greater than seasonal decline in float were the major factors absorbing reserves in the latest statement period. Partially offsetting these reserve drains was a seasonal decline in currency in circulation. System Open Market operations provided $100 million reserves, on a weekly average basis, through both outright purchases and repurchase transactions during the week. Member bank borrowings averaged $1,201 million, about in line with the average level of recent weeks. Borrowings exceeded excess reserves by $1,043 million, compared to the revised figure of $1,192 million for the previous week. Averages of dally figures Member bank reserves, Week ended Chang e from week ended Wednesday, Reserve Bank credit, August 27, Augu st 20, August 28, August 27, and related items 1969 1969 1968 1969 Reserve Bank credit: U. S. Government securities— Bought outright~-System account 54,483 + 61 + 1,820 54,681 Held under repurchase agreements 68 + 35 + 68 219 Federal Agency obligations-- Held under repurchase agreements 8 4 8 27 Acceptances-- Bought outright 41 . — . 12 40 Held under repurchase agreements 6 3 + 6 20 Discounts and advances— Member bank borrowings 1,201 20 + 827 1,463 Other Float 2,140 _ 476 + 419 1,991 Other F. R. assets 2,715 + 33 + 968 2,716 Total Reserve Bank credit 60,663 - 360 + 4,106 61,157 Gold stock 10,367 -- — 10,367 Treasury currency outstanding 6,738 + 4 - 2 6,755 77,768 - 355 + 4,104 78,279 Currency in circulation 51,294 - 81 + 3,104 51,449 Treasury cash holdings 682 + 8 - 126 693 Treasury deposits with F. R. Banks 895 + 149 - 189 953 Foreign deposits with F. R. Banks 139 + 4 + 14 138 Other deposits with F. R. Banks 464 - 19 + 20 482 Other F. R. liabilities and capital 2,033 + 61 + 235 2,059 55,507 + 123 + 3,059 55,774 Member bank reserves: With Federal Reserve Banks 22,262 - 477 + 1,045 22,505 Currency and coin 4,606 + 207 + 32 4,606 Total reserves held 26,868 - 270 + 1,077 27,111 Required reserves 26,710 - 399 + 1,098 26,710 Excess reserves 158 + 129 - 21 401 NOTE: A net of $44 million of surplus reserves were eligible to be carried forward from the week ended August 20, into the week ending August 27. On August 27, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,072 million, an increase of $221 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 Aug. 27, Aug. 20, Aug. 28, 1969 1969 1968 A S S E TS Gold certificate account 10,027 -- 1 * Cash (686) 149 - 4 - 184 Discounts and advances 1,463 + 338 + 926 Acceptances: Bought outright 40 _ 1 12 Held under repurchase agreements 20 + 20 + 20 Federal Agency obligations Held under repurchase agreements 27 + 27 + 27 U. S. Government securities: Bought outright— Bills 19,985 + 284 +1,217 Certificates Notes 30,553 — +2,410 Bonds 4,143 — -1,564 Total bought outright 54,681 + 284 +2,063 Held under repurchase agreements 219 + 219 + 219 Total U. S. Government securities 54,900 + ~" 50T +2,282 Total loans and securities 56,450 + 887 +3,243 Cash items in process of collection (2,402) 8,426 - 897 +1,147 Bank premises 114 — + 1 Other assets 1/ 2,602 - 115 + 956 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,088) 77.768 Z_ 129 +5.164 L I A B I L I T I ES Federal Reserve notes (686) 45,196 +2,782 Deposits: Member bank reserves 22,505 + 390 +1,445 U. S. Treasurer—general account 953 - 3 - 46 Foreign 138 + 22 + 6 m Other 2/ (1) mm 2. ± 21 Total deposits (1) 24,078 + 407 +1,428 Deferred availability cash items (2,401) 6,435 - 604 + 705 Other liabilities and accrued dividends 503 ±__ _L2. + 127 TOTAL LIABILITIES (3,088) 76,212 188 +5,042 C A P I T AL A C C O U N T S! Capital paid in 664 + 1 + 46 Surplus 630 — + 32 Other capital accounts 262 + 58 + 44 Contingent liability on acceptances purchased for foreign correspondents 159 - 2 + 10 * Figures in parentheses are the eliminations made in the consolidating process. \_l Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 27. 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 1,454 36 3,064 +229 16 days to 90 days 9 24 9,313 +311 91 days to 1 year -- -- 21,101 - 10 Over 1 year to 5 y(> ars -- 12,229 — Over 5 years to 10 years 8,549 — mm mm Over 10 years — ~ 671 -- Total 1,463 3ff 54,927 +53 U 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 AUGUST 27, 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 10,027 539 2,356 467 883 918 463 1,998 250 166 356 317 1,314 F. R. notes of other banks 686 75 164 72 40 53 61 27 29 27 29 21 88 Other cash 149 5 12 6 17 12 23 14 15 4 12 10 19 Discounts and advances 1,463 83 504 36 67 117 60 251 113 12 36 53 131 Acceptances: Bought outright 40 — 40 — — — — — — — — — -- Held under repurchase agreements 20 — 20 — — — — — — — — — -- Federal Agency obligations— Held under repurchase agreements 27 27 -- — — U. S. Government securities: Bought outright— Bills 19,985 1,038 4,792 1,064 1,578 1,497 1,101 3,269 724 410 774 849 2,889 Certificates — -- -- -- -- — — -- — — — -- — Notes 30,553 1,586 7,325 1,627 2,412 2,289 1,683 4,998 1 ,107 62S 1 ,183 1 ,298 4,417 Bonds 4,143 215 993 221 327 310 228 678 150 85 161 176 599 ! Total bought outright 54,681 2,839 13,110 2,912 4,317 4,096 3,012 8,945 T ,981 ~T, 123 ~T, 118 ~2 ,323 7,905 Held under repurchase agreements 219 — 219 — — — — — — — — — — r Total U. S. Government securities 54,900 2,839 13,329 2,912 4,317 4,096 3,012 8,945 ,981 ~T, 123 ~2 ,118 ~2 ,323 7,905 Total loans and securities 56,450 2,922 13,920 2,948 4,384 4,213 3,072 9,196 2 ,094 l ,135 2 ,154 2 ,376 8,036 Cash items in process of collection 10,828 670 1,811 587 764 894 980 1,809 511 405 748 688 961 Bank premises 114 2 9 2 5 11 18 17 8 5 19 9 9 Other assets \l 2,602 116 827 128 208 135 146 355 84 53 99 129 322 TOTAL ASSETS 80,856 4,329 19,099 4,210 6,301 6,236 4,763 13,416 2 ,991 l ,795 3 ,417 3 ,550 10,749 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 AUGUST 27, 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 45,882 2,647 10,557 2,641 3,727 4,169 2,415 8,154 1,693 789 1,718 1,652 5,720 Deposits: Member bank reserves 22,505 906 6,126 893 1,653 1,043 1,295 3,391 755 556 930 1,176 3,781 U. S. Treasurer—general account 953 47 116 81 59 114 86 72 66 44 70 75 123 Foreign 138 6 1/ 41 7 12 7 8 19 4 3 6 7 18 Other 483 1 2/440 1 9 2 6 1 1 2 3 17 Total deposits 24,079 960 6,723 982 1,724 1,173 1,391 3,488 826 604 1,008 1,261 3,939 Deferred availability cash items 8,836 622 1,282 484 675 774 833 1,462 401 357 608 533 805 Other liabilities and accrtl ed dividends 503 25 129 23 38 36 27 78 18 11 19 21 78 TOTAL LIABILITIES 79,300 4,254 18,691 4,130 6,164 6,152 4,666 13,182 2,938 1,761 3,353 3,467 10,542 CAPITAL ACCOUNTS Capital paid in 664 32 176 34 59 34 42 98 23 15 28 37 86 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 262 12 72 13 22 17 15 43 8 5 9 10 36 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ._80,85_6_ 4,329 19,099 4,210 6,301 6,236 4,763 13,416 2,991 1,795 3,417 3,550 10,749 Contingent liability on ace: eptances purchased for fore:L gn 159 8 3/ 40 8 14 8 10 24 6 4 7 9 21 c orre s pondent s FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 11,028 2,738 3,954 4,278 17563 57*13 T7753 87T T78TI 17774" KJJUT Collateral for F. R. notes: Gold certificate account 500 300 560 535 1,000 155 27 5 Elibible paper U. S. Government securities 10,800 2,600 3,500 3,810 2,650 7,650 1*700 815 1,825 1,830 6,250 Total collateral 11,300 2,900 4,060 4,345 2,650 8,650 1,855 842 1,825 1,835 6,250 1/ After deducting $ 97 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. 3/ After deducting $ 119 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis