H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE factors Affectiig Boik Rtstrves aid '•rf*4u&f. Coiditioi StattMtut off F.R. Banks H.4.1 For immediate release September 4, 1969 The average of daily figures of total reserves of member banks declined $16 million (net) in the latest statement week to $26,869 million. Required reserves declined primarily reflecting a drop in U. S. Government demand deposits in the week of August 20. Excess reserves increased while member bank borrowings were about unchanged. The holiday outflow of currency and a seasonal decline in float were the major factors draining reserves in the latest period. System Open Market operations offset some of these reserve drains by providing $232 million reserves, on a weekly average basis, both through outright purchase of U. S. Government securities and re purchase agreements. Bank holdings of excess reserves were somewhat above the average level of recent weeks, perhaps in part related to the Labor Day holiday. Member bank borrowings exceeded excess reserves by $917 million compared to the revised figure of $1,026 million for the previous weeks. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. 3, Aug. 27, Sept. 4, Sept. 3, and related items 19$9 1969 1968 13M Reserve Bank credit: U. S. Government securities— Bought outright--System account 54,638 + 155 + 1,663 54,459 Held under repurchase agreements 131 + 63 + 131 Federal Agency obligations— Held under repurchase agreements 22 14 + 22 Acceptances-- Bought outright 40 1 11 40 Held under repurchase agreements 12 + * 6 + 12 Discounts and advances-- Member bank borrowings 1,239 38 + 785 698 Other Float 2,018 - 140 + 311 2,213 Other F. R. assets 2,770 + 55 +. 1, 018 2,911 Total Reserve Bank credit 60,871 + 191 + 3 ,931 60,321 Gold stock 10,367 — -- 10,367 Treasury currency outstanding 6,752 + 14 + 22 6,755 77,990 + 205 + 3 ,953 : 77,443 Currency in circulation 51,491 + 197 + 3 ,060 51,753 Treasury cash holdings 684 + 2 - 103 679 Treasury deposits with F. R. Banks 868 - 27 - 70 748 Foreign deposits with F. R. Banks 148 + 9 + 8 178 Other deposits with F. R. Banks 462 - 2 + 5 513 Other F. R. liabilities and capital 2,121 + 88 + 268 2,145 Member bank reserves: 55,773 + 266 + 3 ,167 56,016 With Federal Reserve Banks 22,217 - 62 + 787 21,426 Currency and coin 4,652 + 46 + 201 4,652 Total reserves held 26,869 - 16 + 988 26,078 Required reserves 26,547 - 163 + 921 26,547 Excess reserves 322 + 147 + 67 1 - 469 NOTE: A net of $80 million of surplus reserves were eligible to be carried forward from the week ended August 27, into the week ending September 3. On September 3, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,267 million an increase of $195 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 Sept. 3, Aug. 27, Sept. 4, 1969 1969 1968 A S S E TS Gold certificate account 10,027 m,mm + 1 * Cash (633) 144 5 - 177 Discounts and advances 698 - 765 + 253 Acceptances: Bought outright 40 «... 12 Held under repurchase agreements 20 Federal Agency obligations Held under repurchase agreements 27 U. S. Government securities: Bought outright— Bills 19,763 222 + 900 Certificates Notes 30,553 +2,348 Bonds 4,143 -1,585 Total bought outright 54,459 - 222 +1,663 Held under repurchase agreements - 219 Total U. S. Government securities 54,459 - 441 +1,663 Total loans and securities 55,197 -1,253 +1,904 Cash items in process of collection (2,353) 9,044 + 604 +1,640 Bank premises 113 1 — Other assets 1/ 2,798 + 196 +1,102 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (2,986) 77,323 - 459 +4^470 LiABI.LiT.IES. Federal Reserve notes (633) 45,482 + 286 +2,744 Deposits: Member bank reserves 21,426 -1, 093 + 569 U. S. Treasurer—general account 748 - 205 - 293 Foreign 178 + 40 + 29 Other 2/ (2). 513 + 31 + 65 Total deposits (2) 22,865 -1, 227 + 370 Deferred availability cash items (2,351) 6,831 + 396 +1,088 Other liabilities and accrued dividends 532 + 29 + 138 TOTAL LIABILITIES (2,986) 75,710 — 516 +4,340 C A P I T AL A C C O U N TS Capital paid in 663 1 + 45 Surplus 630 -- + 32 Other capital accounts 320 + 58 + 53 Contingent liability on acceptances purchased for foreign correspondents 158 - 1 + 20 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 3. 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 691 12 2,244 -820 16 days to 90 days 7 28 9,810 +497 91 days to 1 year -- -- 20,956 -145 Over 1 year to 5 years — -- 12,229 Over 5 years to 10 years — -- 8,549 Over 10 years — «• •• 671 Total "5TJS 54,459 "3J6T •^ 3*»** -. 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 SEPTEMBER 3, 1969 San New Phila Cleve Rich St • Minne Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 10,027 556 1,980 521 703 941 571 2,041 442 51 300 277 1,644 F. R. notes of other banks 633 76 129 68 42 49 65 30 26 27 28 17 76 Other cash 144 4 11 7 17 12 23 13 15 3 11 10 18 Discounts and advances 698 63 101 24 40 51 33 157 14 9 70 30 106 Acceptances: Bought outright 40 — 40 — — — — — — — — — -- Held under repurchase agreements -- -- — — — — -- — — — — — — Federal Agency obligations— Held under repurchase agreements -- -- -- — -- -- — — -- U. S. Government securities: Bought outright — Bills 19,763 1,014 4,917 1,014 1,538 1,472 1,062 3,254 681 398 764 846 2,803 Certificates — — — — — — -- — — — — — — Notes 30,553 1,568 7,601 1,569 2,377 2,275 1,641 5,030 1 ,054 616 1,182 1 ,308 4,332 Bonds 4,143 213 1,031 213 322 309 223 682 143 83 160 177 587 Total bought outright 54,459 2,795 13,549 2,796 4,237 4,056 2,926 8,966 T ,878 "T,0 97 2,106 ~2 ,331 7,722 Held under repurchase agreements -- — — — — — — — — — -- — -r Total U. S. Government securities 54,459 2,795 13,549 2,796 4,237 4,056 2,926 8,966 ,878 T ,097 2.106 ~2 ,331 7,722 Total loans and securities 55,197 2,858 13,690 2,820 4,277 4,107 2,959 9,123 i ,892 1 ,106 2,176 2 ,361 7,828 Cash items in process of collection 11,397 659 2,084 665 789 907 991 1,936 573 420 741 588 1,044 Bank premises 113 2 9 2 5 11 18 17 8 5 18 9 9 Other assets \_l 2,798 125 880 135 222 143 158 383 90 58 108 150 346 TOTAL ASSETS 80,309 4,280 18,783 4,218 6,055 6,170 4,785 13,543 3 ,046 1 ,670 3,382 3 ,412 10,965 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 SEPTEMBER 3, 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) L I A B I L I T I ES Federal Reserve notes 46,115 2,655 10,633 2,647 3,742 4,182 2,432 8,189 1,702 790 1,725 1,668 5,750 Deposits: Member bank reserves 21,426 785 5,511 868 1,330 1,015 1,302 3,398 746 481 890 1,149 3,951 U. S. Treasurer—general account 748 31 122 43 51 72 80 118 58 15 92 35 31 Foreign 178 \ 6 1/ 81 7 12 7 8 19 4 3 6 7 18 Other 515 1 2/467 2 — 13 2 4 2 2 3 2 17 Total deposits 22,867 823 6,181 920 1,393 1,107 1,392 3,539 810 501 991 1,193 4,017 Deferred availability cash items 9,182 698 1,416 544 740 755 834 1,490 462 334 580 443 886 Other liabilities and accrued dividends 532 26 130 24 39 38 27 82 17 10 20 22 97 TOTAL LIABILITIES 78,696 4,202 18,360 4,135 5,914 6,082 4,685 13,300 2,991 1,635 3,316 3,326 10,750 CAPITAL ACCOUNTS Capital paid in 663 31 176 34 59 34 43 97 23 15 28 37 86 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 320 16 87 16 26 21 17 53 10 6 11 13 44 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 80.309 4.280 18.783 4.218 6.055 6,170 4,785 Jj ,543_ 3,046 1,670 3,382 3,412 10,965 J Contingent liability on acee ptances purchased for foreig n correspondents 158 8 2/ 40 8 14 8 10 23 6 4 7 9 21 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 48,014 2,764 11,018 2,734 3,978 4,301 2,576 8,438 1,783 82U 1,814 l,/b9 6,019 Collateral for F. R. notes: Gold certificate account 3,282 200 500 300 560 535 — 1,000 155 27 -- 5 -- Eligible paper U. S. Government securitie s 46,031 2,601 10,800 2,600 3,500 3,810 2,650 7,650 1,700 815 1,825 1,830 6,250 Total collateral 49,313 2,801 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 $118 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis