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 aid Condition Statement of F.R. Banks 'f*ALK&: H.^.l For immediate release November 6, 1969 The average of daily figures of total reserves of member banks increased $345 million, in the latest statement week to $27,557 million. Required reserves, excess reserves and member bank borrowings all increased. The principal factors draining reserves in the latest week were increases in Treasury deposits with Federal Reserve Banks and currency in circulation, and declines in float and other Federal Reserve assets. System Open Market operations provided over $1.0 billion of reserves, on a weekly average basis, primarily through outright purchase of U. S. Government securities. Member bank borrowings averaged above the level of recent weeks and exceeded excess reserves by $1,095 million, compared to the revised figure of $1,055 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, November 5, October 29, November 6,N ovember 5, and related items 1969 1969 1968 1969 Reserve Bank credit: U. S. Government securities- Bought outright — System account 55,345 + 788 + 2,051 55,746 Held under repurchase agreements 261 + 261 + 173 458 Federal Agency obligations- Held under repurchase agreements 18 11 50 Acceptances- Bought outright 41 1 15 42 Held under repurchase agreements 7 + 7 + 7 19 Discounts and advances- Member bank borrowings 1,327 144 935 1,205 Other Float 2,070 - 341 + 410 1,797 Other F. R. assets 2,945 - 172 + 701 2,997 Total Reserve Bank credit 62,014 + 706 + 4,272 62,314 Gold stock 10,367 — _- 10,367 Treasury currency outstanding 6,800 + 8 + 24 6,803 79,181 + 714 + 4,296 79,484 Currency in circulation 51,819 + 169 + 3,013 52,138 Treasury cash holdings 673 + 13 - 101 677 Treasury deposits with F. R. Banks 1,114 + 169 + 35 1,027 Foreign deposits with F. R. Banks 136 + 19 + 21 208 Other deposits with F. R. Banks 463 + 13 + 3 471 Other F. R. liabilities and capital 2,183 + 98 + 296 2,221 56,390 + 484 + 3,269 56,742 Member bank reserves: With Federal Reserve Banks 22,791 + 231 + 1,027 22,743 Currency and coin 4,766 + 114 + 176 4,766 Total reserves held 27,557 + 345 + 1,203 27,509 Required reserves 27,325 + 241 + 1,163 27,325 Excess reserves 232 + 104 + 40 184 NOTE: A net of $52 million of surplus reserves were eligible to be carried forward from the week ended October 29, into the week endingN ovember 5. On November 5, 1969, U. S. Government securitie s held in custody by the Federal Reserve Banks for foreign account were $7,856m illion, a decrease of $1,261 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 Nov. 5, Oct. 29, Nov. 6, 1969 1969 1968 A S S E TS Gold certificate account 10,036 + 10 * Cash (593) 139 5 - 144 Discounts and advances 1,205 28 + 671 Acceptances: Bought outright 42 + 2 17 Held under repurchase agreements 19 19 + 19 + Federal Agency obligations Held under repurchase agreements 50 + 50 + 24 U. S. Government securities: Bought outright-- Bills 20,921 + 963 +1,627 Certificates Notes 31,357 +2,933 Bonds 3.468 -2.289 Total bought outright 55,746 + 963 +2,271 Held under repurchase agreements 458 + 458 + 310 Total U. S. Government securities 56,204 +1,421 +2.581 Total loans and securities 57,520 +1,520 +3,278 Cash items in process of collection (2,533) 9,341 + 435 + 771 Bank premises 113 .. 1 Other assets \J 2.8S4 - 22 + 730 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,126) 80.033 +1.928 +4.644 LIABILITIES. Federal Reserve notes (593) 45,819 + 362 +2,719 Deposits: Member bank reserves 22,743 + 663 +1,014 U. S. Treasurer—general account 1,027 - 28 - 17 Foreign 208 + 89 + 72 Other 2/ (5) 471 + 9 . + 37 Total deposits (5) 24,449 + 733 +1,106 Deferred availability cash items (2,528) 7,544 + 715 + 510 Other liabilities and accrued dividends 573 + 51 + 167 TOTAL LIABILITIES (3,126) 78,385 +1, 861 +4,502 £ A P I T A L A C C O U N TS Capital paid in 665 + 42 M Surplus 630 -- + 32 Other capital accounts 353 + 67 + 68 Contingent liability on acceptances purchased for foreign correspondents 145 27 * Figures in parentheses are the eliminations made in the consolidating process. !_/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 5, 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 Acce tances Holdings Weekly changes Within 15 days 1,199 5 3,175 + 292 16 days to 90 days 6 33 9,153 + 650 91 days to 1 year 21,654 + 529 Over 1 year to 5 years 12,822 Over 5 years to 10 years -- 8,776 Over 10 years -- 674 ^ Total 1,205 61 56,254 +1,471 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 NOVEMBER 5, 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 j> E T j> Gold certificate account 10,036 690 1,792 584 834 949 476 1,671 376 192 273 293 1,906 F. R. notes of other banks 593 89 126 28 44 49 56 31 17 23 33 22 75 Other cash 139 5 8 5 13 12 22 12 14 4 11 10 23 Discounts and advances 1,205 37 354 3 4 31 82 382 46 45 72 13 136 Acceptances: Bought outright 42 — 42 — — — — — — — — — -- Held under repurchase agreements 19 — 19 — — — — — — — — — -- Federal Agency obligations-- Held under repurchase agreements 50 — 50 -- — -- — — -- -- — — -- U. S. Government securities: Bought outright— Bills 20,921 1,069 5,193 1,087 1,616 1,572 1,118 3,417 738 397 820 920 2,974 Certificates — — -- -- — — -- — -- — — -- -- Notes 31,357 1,601 7,783 1,628 2,423 2,357 1,675 5,122 1,106 596 1,230 1,379 4,457 Bonds 3,468 177 861 180 268 261 185 566 122 66 136 153 493 r Total bought outright 55,746 2,847 13,837 2,895 4,307 4,190 2,978 9,105 1,966 ,059 2,186 2,452 7,924 Held under repurchase agreements 458 -- 458 -- — — — -- -- — — -- — r Total U. S. Government securities 56,204 2,847 14,295 2,895 4,307 4,190 2,978 9,105 1,966 ,059 2,186 2,452 7,924 Total loans and securities 57,520 2,884 14,760 2,898 4,311 4,221 3,060 9,487 2,012 1, 104 2,258 2,465 8,060 Cash items in process of collection 11,874 823 1,862 698 811 969 1,041 1,938 705 498 828 667 1,034 Bank premises 113 2 9 2 5 11 18 17 9 5 18 8 9 Other assets 1L/ 2,884 129 896 146 227 157 160 401 92 58 111 142 365 TOTAL ASSETS 83,159 4,622 19,453 4,361 6,245 6,368 4,833 13,557 3,225 1 ,884 3,532 3,607 11,472 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 NOVEMBER 5, 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 46,412 2,647 10,769 2,639 3,792 4,196 2,466 8,196 1,716 792 1,723 1,674 5,802 Deposits: Member bank reserves 22,743 1,133 5,797 819 1,454 1,065 1,272 3,338 832 571 957 1,213 4,292 U. S. Treasurer—general account 1,027 41 97 66 67 147 85 82 65 40 90 73 174 Foreign 208 10 1/ 59 10 18 10 13 29 7 5 9 11 27 Other 476 * 2/427 1 1 12 3 4 2 2 2 1 21 Total deposits 24,454 1,184 6,380 896 1,540 1,234 1,373 3,453 906 618 1,058 1,298 4,514 Deferred availability cash items 10,072 684 1,714 713 726 805 862 1,571 527 426 661 523 860 Other liabilities and accril ed dividends 573 28 159 29 42 42 29 89 19 12 22 24 78 TOTAL LIABILITIES 81,511 4,543 19,022 4,277 6,100 6,277 4,730 13,309 3,168 1,848 3,464 3,519 11,254 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 95 17 29 24 20 57 12 7 13 15 47 TOTAL LIABILITIES AND 83,159 4,622 19,453 4,361 6,245 6,368 4,833 13,557 3,225 1,884 3,532 3,607 11,472 CAPITAL ACCOUNTS Contingent liability on ace- eptances purchased for foreign correspondents 145 7 3/ 37 8 13 7 9 22 5 3 6 8 20 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 48,403 2,800 11,201 27707 4,013 4,306 27609 87453 17800 823 T781T5 17799 6,082 Collateral for F. R. notes: Gold certificate account 3,287 180 500 300 510 610 — 1,000 155 27 — 5 Eligible paper U. S. Government securities 46,0961 2,637 10,800 2,520 3,600 3,769 2,650 7,650 1,700 815 1,875 1,830 6,250 Total collateral 49,383 2,817 11,300 2,820 4,110 4,379 2,650 8,650 1,855 842 1,875 1,835 6,250 1/ After deducting $149 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. * Less than $500,000, 3/ After deducting $108 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis