H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release October 9, 1969 The average of daily figures of total reserves of member banks declined $293 million in the latest statement week to $27,103 million. Excess reserves and member bank borrowings both declined sharply from the relatively high level of the preceding week, while required reserves were reduced slightly. Increases in currency in circulation and other Federal Reserve liabilities and capital were the major factors draining reserves in the latest week. An in crease in float and a decline in Treasury deposits with Federal Reserve Banks, which supplied reserveSj about offset the reserve drains. In addition, System Open Market operations supplied over $300 million of reserves, on a weekly average basis, primarily through outright purchase of U. S. Government securities. Member bank borrowings from the Federal Reserve which have been averaging above $1.0 billion in recent weeks was slightly below this level in the latest week as sizable reserve surpluses were carried over from the preceding week. Borrow ings exceeded excess reserves by $916 million compared to the revised figure of $1,136 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, October 8, October 1, October 9, [October 8, and related items 1969 1969 1968 1969 Reserve Bank credit: U. S. Government securities— Bought outright--System account 54,030 f 217 + 967 54,138 Held under repurchase agreements 301 -- + 301 162 Federal Agency obligations-- Held under repurchase agreements 77 68 + 77 49 T Acceptances-- Bought outright 38 + 1 _ 15 39 Held under repurchase agreements 35 + 32 + 35 23 Discounts and advances— Member bank borrowings 964 474 + 561 790 Other Float 2,261 + 85 + 298 2,107 Other F. R. assets 3,224 - 76 + 1 ,085 3,165 Total Reserve Bank credit 60,929 - 147 + 3 ,308 60,473 Gold stock 10,367 -- -- 10,367 Treasury currency outstanding 6,781 + 4 + 32 6,782 78,077 - 143 + 3 ,340 77,622 Currency in circulation 51,454 + 257 + 2 ,904 51,809 Treasury cash holdings 666 -- - 120 668 Treasury deposits with F. R. Banks 912 -. 218 - 160 1,148 Foreign deposits with F. R. Banks 134 + 11 - 22 123 Other deposits with F. R. Banks 497 + 33 + 24 503 Other F. R. liabilities and capital 2,152 + 97 + 263 2,173 Member bank reserves: 55,815 + 180 + 2 ,889 56,424 With Federal Reserve Banks 22,262 - 322 + 450 21,198 Currency and coin 4,841 + 29 + 158 4,841 Total reserves held 27,103 - 293 + 608 26,039 Required reserves 27,055 - 39 + 785 27,055 Excess reserves 48 - 254 - 177 1 -1,016 NOTE: A net of $171 million of surplus reserves were eligible to be carried forward from the week ended October 1, into the week ending October 8. On October 8, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,289 million, a decrease of $167 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. 8, Oct• 1, Oct. 9, 1969 1969 1968 A S S E TS Gold certificate account 10,036 at m + 10 * Cash (640) 153 + 1 - 157 Discounts and advances 790 - 392 + 501 Acceptances: Bought outright 39 + 2 15 Held under repurchase agreements 23 + 23 + 23 Federal Agency obligations Held under repurchase agreements 49 f 49 f 49 U. S. Government securities: Bought outright— Bills 19,313 + 164 + 888 Certificates Notes 31,357 + 110 +2,933 Bonds 3,468 + 19 -2.289 Total bought outright 54,138 + 293 +1,532 Held under repurchase agreements 162 + 162 + 162 Total U. S. Government securities 54,300 + 455 +1,694 Total loans and securities 55,201 + 137 +2,252 Cash items in process of collection (2,258) 8,991 - 517 +1,081 Bank premises 113 — 2 Other assets 1/ 3,052 - 94 +1.007 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,898) 77,546 - 473 +4.191 L I A B I L I T I ES Federal Reserve notes (640) 45,517 + 461 +2,710 Deposits: Member bank reserves 21,198 - 704 + 622 U. S. Treasurer—general account 1,148 + 90 - 147 Foreign 123 11 + 11 Other 2/ (2) 503 ± 21 + -21 Total deposits (2) 22,972 - 598 + 508 Deferred availability cash items (2,256) 6,884 - 414 + 702 Other liabilities and accrued dividends TOTAL LIABILITIES (2,898) 75,898 531 +4,059 C A P I T AL A C C O U N TS Capital paid in 665 + 44 + 32 Surplus 630 Other capital accounts 353 - 58 + 56 Contingent liability on acceptances purchased for foreign correspondents 158 - 1 + 37 * 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, OCTOBER 8, 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 787 31 2,385 +233 16 days to 90 days 3 31 9,428 +551 91 days to 1 year 20,264 -408 Over 1 year to 5 years 12,822 + 73 Over 5 years to 10 years 8,776 + 52 Over 10 years 674 + 3 Total 79TJ 62 54,349 +504 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 8, 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 10,036 622 2,522 643 831 972 386 1,750 288 219 313 309 1,181 F. R. notes of other banks 640 86 165 55 31 49 51 28 20 20 34 20 81 Other cash 153 6 12 6 15 13 23 13 15 4 11 11 24 Discounts and advances 790 17 323 29 21 71 54 110 61 3 38 21 42 Acceptances: Bought outright 39 — 39 — — -- — -- — -- -- -- -- Held under repurchase agreements 23 — 23 -- — — -- -- -- -- __ -_ — .. Federal Agency obligations-- Held under repurchase agreements 49 49 — U. S. Government securities: Bought outright— Bills 19,313 990 4,632 980 1,546 1,452 1,059 3,191 692 380 778 858 2,755 Certificates — -- -- -- -- -- -- -_ -_ — -- -- -- Notes 31,357 1 ,608 7,519 1 ,591 2,510 2,358 1,720 5,181 1 ,124 618 1,263 1 ,392 4,473 Bonds 3,468 178 831 176 278 261 190 573 124 68 140 154 495 r Total bought outright 54,138 ~2 ,776 12,982 2 ,747 4,334 4,071 2,969 8,945 ,940 "T ,066 2,181 T ,404 7,723 Held under repurchase agreements 162 — 162 — -- — — — — — -- -- — Total U. S. Government securities 54,300 ~2 ,776 13,144 2 ,747 4,334 4,071 2,969 8,945 ~T, 940 JJT, 066 2,181 ~Tr 404~ 7,723 Total loans and securities 55,201 2 ,793 13,578 2 ,776 4,355 4,142 3,023 9,055 2 ,001 1 ,069 2,219 2 ,425 7,765 Cash items in process of collection 11,249 684 1,890 599 727 926 1,027 1,877 594 462 758 637 1,068 Bank premises 113 2 9 2 5 11 18 17 9 5 18 8 9 Other assets _1/ 3,052 138 930 151 246 164 179 425 99 63 119 153 385 TOTAL ASSETS 80,444 4 ,331 19,106 4 ,232 6,210 6,277 4,707 13,165 3 ,026 1 ,842 3,472 3 ,563 10,513 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 OCTOBER 8, 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 dollars0 L I A B I L I T I ES Federal Reserve notes 46,157 2,644 10,639 2,622 3,752 4,165 2,436 8,183 L,705 794 1,724 L,672 5,821 Deposits: Member bank reserves 21,198 898 5,919 927 1,500 1,042 1,183 3,035 711 557 926 L,150 3,350 U. S. Treasurer—general account 1,148 43 209 61 86 122 91 68 62 43 121 97 145 Foreign 123 6 1/ 26 7 12 7 8 19 5 3 6 7 17 Other 505 2 2/449 2 1 11 2 6 2 3 4 4 19 Total deposits 22,974 949 6,603 997 1. ,599 1,182 1,284 3,128 780 606 1,057 ]L ,258 3,531 Deferred availability cash items 9,140 634 1,293 503 674 801 858 1,521 467 395 602 523 869 Other liabilities and accrued dividends 525 25 138 26 41 38 27 84 18 12 21 22 73 TOTAL LIABILITIES 78,796 4,252 18,673 4,148 6. ,066 6,186 4,605 12,916 2,970 1,807 3,404 3,475 10,294 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 353 17 97 17 28 24 19 58 11 6 13 15 48 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 80,444 4,331 19,106 4,232 6. ,210 t» ,277 4,707 13,165 3,026 1,842 3,472 3,563 JL 0,513 Contingent liability on ace: eptances purchased for foreign correspondents 158 8 3/ 40 8 14 8 10 23 6 4 __7 9__._, 21 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 11,086 2,694 3,979 4,288 2,588 8,433 1,789 824 1,806 1,801 6,087 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 $ 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