H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Jactors Affecting Bank Reserves and *f«AEu&: Condition Statement of F.R. Banks H.4.1 For immediate release October 16, 1969 The average of daily figures of total reserves of member banks increased $195 million (net) in the latest statement week to $27,350 million. Required reserves, excess reserves and member bank borrowings all increased from their average levels of the previous week. Increases in currency in circulation and Treasury deposits with Federal Reserve Banks, which drained reserves, were the major factors affecting reserves in the latest week. Float declined seasonally, adding to the reserve drain. System Open Market operations provided over $500 million of reserves, on a weekly average basis, through the outright purchase of U. S. Treasury bills and the replacement of maturing repurchase agreements. Member bank borrowings were somewhat higher than the average level of recent weeks. In part, this may reflect the effects of the closing of several Federal Reserve Banks in observance of the Columbus Day holiday. Borrowings exceeded excess reserves by $1,190 million compared to the revised figure of $864 million JEor the previous week. Average> s c f daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, October 15, October 8, October 16, October 1. and related items 1969 1969 1968 1969 Reserve Bank credit: U. S. Government securities— Bought outright--System account 54,566 + 536 + 1,169 54,874 Held under repurchase agreements 313 + 12 + 217 434 Federal Agency obligations-- Held under repurchase agreements 43 34 + 40 90 Acceptances-- Bought outright 41 + 3 14 40 Held under repurchase agreements 33 - 2 18 47 Discounts and advances— Member bank borrowings 1,348 + 384 + 832 1,186 Other Float 2,122 _ 191 + 106 2,065 Other F. R. assets 3,185 - 39 + 1,084 3,160 Total Reserve Bank credit 61,651 + 670 + 3,415 61,896 Gold stock 10,367 — — 10,367 Treasury currency outstanding 6,779 - 2 + 25 6,781 78,797 + 668 + 3,440 79,044 Currency in circulation 51,845 + 391 + 3,081 51,974 Treasury cash holdings 670 + 4 - 110 677 Treasury deposits with F. R. Banks 1,104 + 192 + 124 784 Foreign deposits with F. R. Banks 116 - 18 16 142 Other deposits with F. R. Banks 511 + 14 + 28 484 Other F. R. liabilities and capital 2,022 - 130 + 169 2,019 56,269 + 454 + 3,278 56,080 Member bank reserves: With Federal Reserve Banks 22,528 + 214 + 162 22,964 Currency and coin 4,822 - 19 + 213 4,822 Total reserves held 27,350 + 195 + 375 27,786 Required reserves 27,192 + 137 + 590 27,192 Excess reserves 158 + 58 - 215 1 594 Note: A net of $101 million of surplus reserves were eligible to be carried forward from the week ended October 8, into the week ending October 15. On October 15, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,928 million, a decrease of $361 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, 15, Oct. 8, Oct. 16, 1£S2 1969 1968 A S S E TS Gold certificate account 10,036 -- 10 * Cash (608) 149 - 4 - 158 Discounts and advances 1,186 + 396 + 997 Acceptances: Bought outright 40 + 1 _ 17 Held under repurchase agreements 47 + 24 + 5 Federal Agency obligations Held under repurchase agreements 90 + 41 + 82 U. S. Government securities: Bought outright— Bills 20,049 + 736 +1,026 Certificates Notes 31,357 -- +2,933 Bonds 3,468 — -2,289 Total bought outright 54,874 + 736 +1,670 Held under repurchase agreements 434 + 272 + 237 Total U. S. Government securities 55,308 +1,008 +1,907 Total loans and securities 56,671 +1,470 +2,974 Cash items in process of collection (2,797) 10,392 +1,358 + 776 Bank premises 112 1 3 Other assets 1/ 3,048 4 +1,045 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (3,405) 80,408 +2,819 :!4>644 LI^lItlllES Federal Reserve notes (608) 45,688 + 171 +2,859 Deposits: Member bank reserves 22,964 +1,723 + 973 U. S. Treasurer—general account 784 - 364 - 263 Foreign 142 + 19 + 6 Other 2/ (3) 484 19 2 Total deposits (3) 24,374 +1,359 + 714 Deferred availability cash items (2,794) 8,327 +1,443 + 801 Other liabilities and accrued dividends 561 + 36 + 167 TOTAL LIABILITIES (3,405) 78,950 +3,009 +4,541 C A P I T AL A C C O U N TS Capital paid in 665 + 44 Surplus 630 -- + 32 Other capital accounts 163 190 + 27 Contingent liability on acceptances purchased for foreign correspondents 150 - 8 + 32 * 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 15, 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 Acee ptances Holdings Weekly changes Within 15 days 1,182 53 2,953 + 568 16 days to 90 days 4 34 9,449 + 21 91 days to 1 year _. — 20,724 + 460 Over 1 year to 5 y tars — 12,822 -- Over 5 years to 10 yyeeaarrss — 8,776 — Over 10 years — — 674 — Total 1,186 87 55,398 +1,049 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 15, 1969 San New Phila Cleve Rich St. Minne Kansas i Total Boston Atlanta Chicago Da Lias Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 10,036 578 2,296 606 754 880 392 1,796 227 172 273 323 1,739 F. R. notes of other banks 608 79 138 38 49 48 53 28 18 19 31 22 85 Other cash 149 6 10 6 15 14 23 11 15 4 11 10 24 Discounts and advances 1,186 l 69 320 121 32 76 68 144 13 27 48 56 212 Acceptances: Bought outright 40 -- 40 -- -- -- -- -- -- -- -- — -- Held under repurchase agreements 47 -- 47 -- -.- -- — __ -- -- — — — Federal Agency obligations-- Held under repurchase agreements 90 - 90 - -- - - - - - U. S. Government securities: Bought outright— Bills 20,049 1,028 4,808 1,017 1,604 1,507 1,100 3,313 719 394 808 891 2,860 Certificates—Other — — — — — — — — — — — — 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 3,468 177 832 176 278 261 190 573 124 _ ^ 68 140 154 495 Total bought outright 54,874 2,813 13,159 2,784 4,392 4,126 3,010 9,067 1,967 ,080 2,211 2 ,437 7,828 Held under repurchase agreements 434 — 434 -- — -- -- Total U. S. Government securities 55,308 2,813 13,593 2,784 4,392 4,126 3,010 97067~" " 1*967" 1 ,080 2,211 2 ,437 7,828 Total loans and securities j 56,671 2,882 14,090 2,905 4,424 4,202 3,078 9,211 1,980 1 ,107 2,259 2 ,493 8,040 Cash items in process of collection 13,189 767 2,357 826 727 1,073 1,207 2,311 685 514 848 740 1,134 Bank premises 112 2 9 2 4 11 18 17 9 5 18 8 9 Other assets 1/ 3,048 140 923 149 265 162 173 424 98_ 64 118 151 381 TOTAL ASSETS 83,813 4,454 19,823 4,532 6,238 6,390 4,944 13,798 3,032 1 ,885 3,558 3 ,747 11,412 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 15, 1969 San New Phila Cleve Rich St. Minne Kansas 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 46,296 2,652 10,708 2,638 3,761 4,169 2,443 8,207 1,710 795 1,723 1,676 5,814 Deposits: Member bank reserves 22,964 809 6,091 954 1,540 1,120 1,351 3,254 685 586 957 1,335 4,282 U. S. Treasurer—general account 784 15 131 64 120 42 36 73 45 19 105 41 93 Foreign | 142 6 1/ 45 7 12 7 8 19 5 3 6 7 17 Other • 487 1 2/436 2 1 11 3 4 * 2 4 3 20 Total deposits 24,377 831 6,703 1,027 1,673 1,180 1,398 3,350 735 610 1,072 1,386 4,412 Deferred availability cash items H,121 875 1,881 769 607 925 983 1,940 519 436 682 583 921 Other liabilities and accrued dividends 561 26 147 24 67 39 28 84 18 12 20 23 73 TOTAL LIABILITIES 82,355 4,384 19,439 4,458 6,108 6,313 4,852 13,581 2,982 1,853 3,497 3,668 11,220 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 163 8 48 7 14 10 9 26 5 3 6 6 21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 83.813 4.454 19.823 4,532 6.238 6.390 4.944 j.3,798 _3^032 1,885 3,558 3.747 11,412 Contingent liability on acel eptances purchased for foreign correspondents 150 7 3/ 38 8 13 8 10 22 5 3 7 9 20 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,705 3,994 "47778 77533 57533 17797 §27" 1,807 1,808 6,116 Collateral for F. R. notes: Gold certificate account 300 560 610 — 1,000 155 27 5 Eligible paper U. S. Government securities 2,520 3,500 3,769 2,650 7,650 1,700 815 1,875 1,830 6,250 Total collateral 11,300—27820—57(5675—ZT7379 2763S 575315—17535 847 17873 1783T" 6,250 1/ After deducting $ 97 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 112 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis