H.4.1 Factors Affecting Reserve Balances of Depository Institutions

-'&£&&&• F E D E R AL R E S E R VE XSKSK&.. Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release September 25, 1969 The average of daily figures of total reserves of member banks increased $51 million in the latest week to $26,869 million. Required reserves, excess reserves, and member bank borrowings all increased. The only factor which absorbed any sizable amount of reserves in the latest statement period was Treasury deposits with Federal Reserve Banks. The rebuilding of such deposits, which had been reduced to very low levels over the previous two weeks, drained over $1.0 billion of reserves. Partially offsetting this reserve drain was a seasonal increase in float and a seasonal decline in currency in circulation. System Open Market operations provided over $600 million (net) reserves, on a weekly average basis. Included in this figure is a drain of $661 million reflecting the redemption of special certificates issued by the Treasury in mid-September. Member bank borrowings from Federal Reserve Banks average $1,106 million and exceeded excess reserves by $960 million compared to the revised figure of $897 million for the previous week. Ave raj!' es of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit Sept. 24, Sept . 17, 1 Sept. 25, Sept. 24, and related items 1969 1969 1 1968 IQfiQ (Iri millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 53,726 + 1 ,254 + 1,882 53,622 Held under repurchase agreements 90 + 40 + 90 310 Special Certificates — - 661 -- — Federal Agency obligations-- Held under repurchase agreements 12 + 8 12 36 Acceptances-- Bought outright 37 __ 12 37 Held under repurchase agreements 7 — + 7 23 Discounts and advances-- Member bank borrowings 1,106 + 89 + 632 1,526 Other Float 2,755 + 138 + 531 2,238 Other F. R. assets 3,067 + 113 + 1,007 3,285 Total Reserve Bank credit 60,799 + 979 + 4,147 61,077 Gold stock 10,367 — — 10,367 Treasury currency outstanding 6,761 + 3 + 19 6,761 77,927 + 983 + 4,166 ; 78,205 Currency in circulation 51,315 - 230 + 2,990 1 51,292 Treasury cash holdings 676 - 7 122 682 Treasury deposits with F. R, Banks 1,168 + 1 ,135 + 302 1,203 Foreign deposits with F. R. Banks 134 + 11 + 11 149 Other deposits with F. R. Banks 435 - 10 10 439 Other F. R. liabilities and capital 1,989 + 19 + 222 2,005 55,718 + 919 + 3,394 55,770 Member bank reserves: With Federal Reserve Banks 22,209 + 63 + 772 22,434 Currency and coin 4,660 - 12 + 242 4,660 Total reserves held 26,869 + 51 + 1,014 27,094 Required reserves 26,723 + 25 + 1,065 26,723 Excess reserves 146 + 26 51 1 371 NOTE: A net of $70 million of surplus reserves were eligible to be carried forward from the week ended September 17, into the week ending September 24. On September 24, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,791 million, a decrease, of $28 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. 24, Sept. 17, Sept. 25, 1969 1969 1968 A S S E TS Gold certificate account 10,027 •• •» T 1 * Cash (808) 153 + 6 - 160 Discounts and advances 1,526 + 870 - 39 Acceptances: Bought outright 37 «... _ 12 Held under repurchase agreements 23 f 23 + 23 Federal Agency obligations Held under repurchase agreements 36 t. 36 + 36 U. S. Government securities: Bought outright— Bills 18,926 + 818 + 454 Certificates Notes 30,553 +2,348 Bonds 4,143 -1,585 Total bought outright 53,622 + STF +1,217 Held under repurchase agreements 310 + 310 + 310 Total U. S. Government securities 53,932 +1,128 +1,527 Total loans and securities 55,554 +2,057 +1,535 Cash items in process of collection (2,513) 9,395 -1,668 +1,233 Bank premises 114 + 1 Other assets \J 3,171 + 316 +1,214 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,321) 78,414 + 711 +3,824 h. 1 A B 11 11 15 1 Federal Reserve notes (808) 45,027 - 226 +2,643 Deposits: Member bank reserves 22,434 + 762 + 2 U. S. Treasurer—general account 1,203 +1,018 + 176 Foreign 149 + 6 + 15 Other 2/ 439 + 8 12 Total deposits * 24,225 +1,794 + 181 Deferred availability cash items (2,513) 7,157 - 920 + 784 Other liabilities and accrued dividends 476 + 1 + 102 TOTAL LIABILITIES (3,321) 76,885 + 649 +3,710 C A P I T AL A C C 0 U N T S. Capital paid in 666 + 3 + 47 Surplus 630 — + 32 Other capital accounts 233 + 59 + 35 Contingent liability on acceptances purchased for foreign correspondents 160 - 1 + 35 * 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 24. 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 1,525 30 3,266 + 198 16 days to 90 days 1 30 9,165 +1,081 91 days to 1 year 20,088 - 115 Over 1 year to 5 years 12,229 Over 5 years to 10 years 8,549 Over 10 years 671 -- Total 1,526 TS 53,968 +1,16" 4 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 24, 1969 San New Phila Cleve Rich St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis a pons City cisco (In millions of dollars) A S S E TS Gold certificate account 10,027 523 960 511 947 966 600 2,163 432 123 491 470 1,841 F. R. notes of other banks 808 93 182 73 46 68 71 37 30 27 42 27 112 Other cash 153 6 11 7 16 13 23 14 16 4 11 9 23 Discounts and advances 1,526 172 449 66 20 76 84 310 13 45 83 24 184 Acceptances: Bought outright 37 — 37 -- -- -- -- -- __ -- -- -- -- Held under repurchase agreements 23 -- 23 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations- Held under repurchase agreements 36 36 - -- - •- U. S. Government securities: Bought outright— Bills 18,926 971 4,709 971 1,473 1,409 1,017 3,116 652 381 732 811 2,684 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 53,622 2,752 1^,341 2,753 4,172 3,993 2,881 8,828 1,849 "T, 080 2,074 -y, 296 >,603 Held under repurchase agreements 310 — 310 -- -- — — -- -- — -- -- -nnr Total U. S. Government securities 53,932 2,752 13,651 2,753 4,172 3,993 2,881 8,828 1,849 ~T, 080 2,074"~ 2~ "~7T60l Total loans and securities 55,554 2,924 14,196 2,819 4,192 4,069 2,965 9,138 1,862 1 ,125 2,157 2 ,320 7,787 Cash items in process of collection 11,908 703 1,952 676 833 987 1,099 1,943 561 469 930 710 1,045 Bank premises 114 2 9 2 5 11 18 17 9 5 18 9 9 Other assets _1/ 3,171 143 977 155 255 167 181 441 104 67 123 160 398 TOTAL ASSETS 81,735 4,394 18,287 4,243 6,294 6,281 4,957 13,753 3,014 1 ,820 3,772 3 ,705 11,215 JL/ 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 24, 1969 New Phila Cleve Rich St. Minne Kansas San 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 45,835 2,643 10,601 2,622 3,739 4,142 2,410 8,154 1,697 789 1,712 1,666 5,660 Deposits: Member bank reserves 22,434 918 5,228 938 1,568 1,056 1,413 3,555 730 537 980 1,283 4,228 U. S. Treasurer—general account 1,203 86 156 39 64 95 64 123 52 33 220 90 181 Foreign 149 6 1/ 60 6 10 6 8 18 4 3 5 7 16 Other 439 * 2/392 2 1 13 2 3 2 2 3 3 16 Total deposits 24,225 1,010 5,836 985 1,643 1,170 1,487 3,699 788 575 1,208 1,383 4,441 Deferred availability cash items 9,670 644 1,323 535 741 852 939 1,594 461 412 771 552 846 Other liabilities and accrued dividends 476 24 124 23 36 35 25 77 16 11 18 21 66 TOTAL LIABILITIES 80,206 4,321 17,884 4,165 6,159 6,199 4,861 13,524 2,962 1,787 3,709 3,622 11,013 CAPITAL ACCOUNTS Capital paid in 666 31 176 34 60 34 43 98 23 15 28 37 87 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 233 11 67 11 19 15 13 38 7 4 8 10 30 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 81,735 4,394 _18,287 •4,243 6,294 6,281 4»957_ 13,753^ 3,014 1,820 3,772 3,705 11,215 Contingent liability on accept ances purchased for foreign 160 8 3/ 40 8 14 8 10 24 6 4 7 9 22 c orre s pondent s FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 48,059 2,769 11,073 2,710 3,983 4,292 2,573 8,434 1,797 819 1,805 1,803 6,001 Collateral for F. R. notes: Gold certificate account 3,357 200 500 300 560 610 1,000 155 27 5 Eligible paper U. S. Government securities 45.956 2,597 10,800 2,520 3,500 3,769 2,650 7,650 1,700 815 1,875 1,830 6,250 Total collateral 49,313 2,797 11,300 2,820 4,060 4,379 2,650 8,650 1,855 842 1,875 1,835 6,250 1/ After deducting $ 89 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $120 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis