H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE JFactors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release October 2, 1969 The average of daily figures of total reserves of member banks increased $408 million in the latest statement week to $27,334 million. Required reserves, excess reserves, and member bank borrowings from the Federal Reserve all increased on average. Float, which declined somewhat more than seasonally, was the only factor absorbing a major amount of reserves in the latest statement period. Declines in currency in circulation and Treasury deposits with Federal Reserve Banks, which provided reserves, partially offset this reserve drain. In addition, System Open Market operations provided almost $300 million of reserves, on a weekly average basis. About two-thirds of these reserves were provided through repurchase agree ments. Member bank borrowings were somewhat higher than the average level of re cent weeks. Such borrowings exceeded excess reserves by $1,198 million, compared to the revised figure of $903 million for the previous week. Average! S O f daily fig; ures Member bank reserves, Week ended Change from we. ek ended Wednesday, Reserve Bank credit, October 1, Sept. 24, October 2, October 1, and related items 1969 1969 1968 1969 Reserve Bank credit: U. S. Government securities— Bought outright--System account 53,813 + 87 + 984 53,845 Held under repurchase agreements 301 + 211 + 238 — Federal Agency obligations— Held under repurchase agreements 9 3 + 8 — Acceptances-- Bought outright 37 »«. _ 12 37 Held under repurchase agreements 3 4 - 2 -- Discounts and advances— Member bank borrowings 1,438 f 332 + 897 1,182 Other Float 2,113 _ 699 + 274 2,110 Other F. R. assets 3,300 + 233 + 1,212 3,259 Total Reserve Bank credit 61,014 + 157 + 3,598 60,433 Gold stock 10,367 — — 10,367 Treasury currency outstanding 6,777 + 16 + 33 6,779 78,157 + 173 + 3,630 i 77,579 Currency in circulation 51,197 - 118 + 2,891 51,356 Treasury cash holdings 666 - 10 - 125 658 Treasury deposits with F. R. Banks 1,130 - 38 - 71 1,058 Foreign deposits with F. R. Banks 123 - 11 - 22 134 Other deposits with F. R. Banks 464 + 29 + 15 476 Other F. R. liabilities and capital 2,055 + 66 + 224 2,095 55,635 - 83 + 2,911 55,777 Member bank reserves: With Federal Reserve Banks 22,522 + 256 + 719 21,802 Currency and coin 4,812 + 152 + 228 4,812 Total reserves held 27,334 + 408 + 947 26,614 Required reserves 27,094 + 371 + 1,092 27,094 Excess reserves 240 + 37 - 145 - 480 NOTE: A net of $113 million of surplus reserves were eligible to be carried forward from the week ended September 24, into the week ending October 1. On October 1, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,456 million, an increase of $665 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 Oct. 1, Sept. 24, Oct. 2, 1969 1969 1968 A S S E TS Gold certificate account 10, 036 9 + 10 * Cash (780) 152 - 1 - 160 Discounts and advances 1 ,182 344 + 866 Acceptances: Bought outright 37 17 Held under repurchase agreements 23 Federal Agency obligations Held under repurchase agreements 36 U. S. Government securities: Bought outright— 19, 149 + 223 + 41 Bills Certificates Notes 31,247 + 694 +2,935 Bonds 3,449 - 694 -2,284 Total bought outright 53,845 + 223 + 692 Held under repurchase agreements - 310 Total U. S. Government securities 53,845 - 87 + 692 Total loans and securities 55,064 - 490 +1,541 Cash items in process of collection (2,648) 9,408 - 29 + 671 Bank premises 113 - 1 2 Other assets 1/ 3,146 - 25 +1,137 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,428) 77,919 2_ 537 +3,197 LiA B I L i i n£ (780) 45,056 + 29 +2,568 Federal Reserve notes Deposits: Member bank reserves 21,802 - 674 + 2 U. S. Treasurer—general account 1,058 - 145 - 120 Foreign 134 - 15 - 36 Other 2/ 476 + 37 + 6 Total deposits 23,470 - 797 - 148 Deferred availability cash items (2,648) 7,298 + 141 + 543 Other liabilities and accrued dividends 505 + 29 + 107 TOTAL LIABILITIES (3,428) 76,329 — 598 +3, 070 £ A £ _I T A L ^ C O U N TS Capital paid in 665 1 + 45 Surplus 630 — + 32 Other capital accounts 295 f 62 + 50 Contingent liability on acceptances purchased for foreign correspondents 159 - 1 36 * Figures in parentheses are the eliminations made in the consolidating process. \J Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 1, 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 1,179 8 2,152 -1,114 16 days to 90 days 3 29 8,877 - 288 91 days to 1 year 20,672 + 584 Over 1 year to 5 years 12,749 + 520 Over 5 years to 10 years 8,724 + 175 Over 10 years 671 -- Total 1,182 IT 53,845 - T23" 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 OCTOBER 1, 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 10,036 401 2,729 647 660 934 524 1,825 334 160 294 242 1,286 F. R. notes of other banks 780 96 184 67 49 59 63 38 28 30 39 28 99 Other cash 152 6 10 6 15 13 23 14 15 4 11 11 24 Discounts and advances 1,182 106 541 38 12 64 57 145 55 35 76 28 25 Acceptances: Bought outright 37 -- 37 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations— Held under repurchase agreements -- — -- — -- — -- -- -- -- — -- -•- U. S. Government securities: Bought outright — Bills 19,149 982 4,592 971 1,533 1,440 1,050 3,164 686 377 772 850 2,732 Certificates -- -- -- -- -- — — — -- — — — — Notes 31,247 1,601 7,493 1 ,585 2,501 2,350 1,714 5,163 1 ,120 615 1,259 1 ,388 4,458 Bonds 3,449 177 827 175 276 259 189 570 124 68 139 153 492 Total bought outright 53,845 2,760 12,912 ~~2, 731 4,310 4,049 2,953 8,897 ~T, 930 ~T, 060 2,170 ~~2 ,391 7,682 Held under repurchase agreements -- -- -- -- __ — — -- — — — — -- Total U. S. Government securities 53,845 2,760 12,912 ~2 ,731 4,310 4,049 2,953 8,897 ~~l ,930 T ,060 2,170 ~2 ,391 7,6^ Total loans and securities 55,064 2,866 13,490 2 ,769 4,322 4,113 3,010 9,042 1 ,985 1 ,095 2,246 2 ,419 7,707 Cash items in process of collection 12,056 737 2,091 631 875 991 1,031 2,052 606 454 782 660 1,146 Bank premises 113 2 9 2 5 11 18 17 9 5 18 8 9 Other assets 1^/ 3,146 143 956 157 254 167 180 441 102 65 124 159 398 TOTAL ASSETS 81,347 4,251 19,469 4 ,279 6,180 6,288 4,849 13,429 3 ,079 1 ,813 3,514 3 ,527 10,669 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) f STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 1, 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 45,836 2,635 10,611 2,618 3,734 4,152 2,412 8,149 1,696 788 1,713 1,662 5,666 Deposits: Member bank reserves 21,802 758 6,154 967 1,372 998 1,359 3,047 682 560 965 1,185 3,755 U. S. Treasurer—general account 1,058 56 167 51 110 110 52 131 116 28 121 33 83 Foreign 134 6 1/ 36 7 12 7 8 19 5 3 6 7 18 Other 476 1 2/431 1 1 12 2 4 * 2 4 2 16 Total deposits 23,470 821 6,788 1,026 1,495 1,127 1,421 3,201 803 593 1,096 1,227 3,872 Deferred availability cash items 9,946 694 1,531 529 772 886 890 1,758 508 387 617 531 843 Other liabilities and accrued dividends 505 25 119 25 40 36 27 82 18 11 22 22 78 TOTAL LIABILITIES 79,757 4,175 19,049 4,198 6,041 6,201 4,750 13,190 3,025 1,77$ 3,448 3,442 10,459 CAPITAL ACCOUNTS Capital paid in 665 31 176 34 60 34 43 98 23 15 28 37 86 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 295 14 84 14 23 20 16 48 9 5 11 12 39 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 81,347 4,251 19,469 V279 6,180 6,288 4,849 13^429 3,079 1,813 3,514 3,527 10,669 Contingent liability on actr eptances purchased for foreign 159 8 3/ 40 8 14 8 10 24 6 4 7 9 21 cor espondents FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 11,076 2,699 3,983 4,287 2,575 8,422 1,789 827 1,808 1,810 5,982 Collateral for F. R. notes: Gold certificate account 500 300 560 610 1,000 155 27 5 Eligible paper U. S. Government securities 10.800 2,520 3,500 3,769 2,650 7,650 1,700 815 1,875 1,830 6,250 Total collateral 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 $ 98 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 119 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis