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 November 13, 1969 The average of daily figures of total reserves of member banks decreased $16 million, in the latest statement week to $27,619 million. Excess and required reserves were about unchanged on average, while member bank borrowings declined moderately. Banks have maintained a somewhat higher level of excess reserves in the past two weeks, reflecting the usual early November increase in these holdings. A seasonal rise in currency in circulation was the major factor draining reserves in the latest week, with an increase in float partially offsetting this drain. System Open Market operations provided nearly $400 million of reserves (net), on a weekly average basis. Maturing repurchase agreements were more than offset by outright purchases of U. S. Government securities by the System Account Manager. Member bank borrowings from the Federal Reserve exceeded excess reserves by $939 million, compared to the revised figure of $1,017 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 12, Nov. 5, Nov. 1' Nov. 12, and related items 1969 1969 1968 | 1969_ i Reserve Bank credit: U. S. Government securities- Bought outright — System account 55,930 585 + 2,37: 56,297 Held under repurchase agreements 67 194 10! Federal Agency obligations- Held under repurchase agreements 10 Acceptances- Bought outright 42 1 42 i/ Held under repurchase agreements 4 3 23 Discounts and advances- Member bank borrowings 1,244 83 DO- Other Float 2,201 + 54 + 170 1,533 Other F. R. assets 2,881 - 64 + 666 ! 2,907 Total Reserve Bank credit 62,380 + 289 + 3 ,632 1 61,475 Gold stock 10,367 „ „ | 10,367 Treasury currency outstanding 6,804 + 4 + 18 | 6,805 79,552 + 293 •+• 3 , 632 ! 78,647 Currency in circulation 52,314 + 495 + 3 ,000 | 52,617 Treasury cash holdings 670 - 3 - 94 1 669 Treasury deposits with F. R. Banks 1,155 + 41 + 119 874 Foreign deposits with F. R. Banks 137 + 1 + 5 106 Other deposits with F. R. Banks 447 - 16 + 1 i 448 Other F. R. liabilities and capital 2,139 - 44 + 2J5 i 2 007 5 56,862 + 472 -f 3, 301 | 56,721 Member bank reserves: With Federal Reserve Banks 22,690 - 179 + 351 [ 21,927 Currency and coin 4,929 + 163 + 198 ! ^,929 Total reserves held 27,619 - 16 + 549 ! 26,856 Required reserves 27,314 - 11 -f 78] ! 27,314 Excess reserves 305 - 5 - 232 - 458 NOTE: A net of $181 million of surplus reserves were eligible to be carried forward from the week ended November 5, into the week ending November 12. On November 12, 1969, U. S. Government securities held in custody bv the Federal Reserve Banks for foreign account were $7,555 million, a decreac of 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 Chansge since Nov. 12, Nov Nov. TT7 1969 1969 1968 A S S E TS Gold certificate account 10,036 10 * Cash (487) 134 5 - 138 Discounts and advances 696 - 509 + 540 Acceptances: Bought outright 42 19 Held under repurchase agreements 19 Federal Agency obligations Held under repurchase agreements — — 50 U. S. Government securities: Bought outright-- Bills 21,472 + 551 +1,925 Certificates Notes 31,357 -m +2,933 Bonds 3,468 -2,289 Total bought outright 56,297 + 551 +2,569 Held under repurchase agreements — 458 — Total U. S. Government securities 56,297 ~+~ 93 +2,569 Total loans and securities 57,035 - 485 +57090 Cash items in process of collection (2,735) 9,230 - 259 + 736 Bank premises 113 _-. 1 Other assets \J 2,794 - 90 + 670 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,222) 79,342 - 83_9 +4,367 L I A B I L I T I ES Federal Reserve notes (487) 46,283 + 464 +2,825 Deposits: Member bank reserves 21,927 - 964 + 191 U. S. Treasurer—general account 874 - 153 + 67 Foreign 106 - 102 - 33 Other 2/ (1) 448 23 + 8 Total deposits (1) 23,355 -1,242 .+ 233 Deferred availability cash items ,734) 7,697 + 153 +1 ,044 Other liabilities and accrued dividends • 569 4 _±_ 163 TOTAL LIABILITIES (3,222) 77,904 629 +4,265 £ A IIIAI A C C O U N T S. + 44 Capital paid in 666 -t- 1 + 32 Surplus 630 + 26 Other capital accounts 142 - 211 Contingent liability on acceptances purchased for foreign correspondents 145 -- + 26 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, NOVEMBER 12, 1969 (Acceptances and securities held under repurchase agreements are classified aj 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 691 12 1,776 -1,399 16 days to 90 days 5 30 10,315 +1,162 91 days to 1 year 21,934 + 280 Over 1 year to 5 years 12,822 Over 5 years to 10 years -- 8,776 Over 10 years — 674 Total 696 42 56,297 43 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 12, 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 10,036 848 2,565 586 786 745 402 1,945 427 75 308 203 1,146 F. R. notes of other banks 487 72 107 19 34 36 46 25 14 16 27 21 70 Other cash 134 5 11 4 12 11 21 12 14 3 10 9 22 Discounts and advances 696 46 173 76 25 57 123 24 73 52 24 22 Acceptances: Bought outright 42 — 42 -- ~ -- — — — .- — -- -- Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Held under repurchase agreements -- -- -- -- — — U. S. Government securities: Bought outright — Bills 21,472 1,096 5,330 1,115 1,659 1,614 1 ,147 3,507 758 408 842 944 3,052 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 Total bought outright 56 297 2,874 13,974 2,923 4,350 4,232 ~~T, 007 9,195 —~T ,986 ~~T, 070 2,208 2,476 8,002 5 Held under repurchase agreements -- -- -- -- — -- -- -- -- -- -- -- -- Total U. S. Government securities 56,297 2,874 13,974 2,923 4,350 4,232 3 ,007 9,195 i ,986 1 ,070 2,208 2,476 8,002 Total loans and securities 57,035 2,920 14,189 2,924 4,426 4,257 3 ,064 9,318 2 ,010 1 ,143 2,260 2,500 8,024 Cash items in process of collection 11,965 768 2,017 678 896 930 1 ,058 2,123 593 451 774 651 1,026 Bank premises 113 2 9 2 5 11 18 17 9 5 18 8 9 Other assets _1/ 2,794 127 866 142 220 152 154 390 89 55 111 139 349 TOTAL ASSETS 82,564 4,742 19,764 4,355 6,379 6,142 4 ,763 13,830 3 ,156 1 ,748 3,508 3,531 10,646 \J 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 12, 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 46,770 2,671 10,848 2,684 3,833 4,205 2,489 8,261 1,735 795 1,734 1,684 5,831 Deposits: Member bank reserves 21,927 1,094 6,197 799 1,397 1,063 1,273 3,199 736 518 941 1,184 3,526 U. S. Treasurer—general account 874 27 184 64 20 48 48 75 41 41 88 77 161 Foreign 106 5 1/ 24 6 10 6 7 16 4 2 5 6 15 Other 449 1 2/400 1 1 13 3 2 1 3 3 2 19 Total deposits 23,356 1,127 6,805 870 1,428 1,130 1,331 3,292 782 564 1,037 1,269 3,721 Deferred availability cash items 10,431 847 1,583 700 948 690 822 1,973 571 345 655 475 822 Other liabilities and accrued dividends 569 28 148 27 42 42 30 91 19 12 22 24 84 TOTAL LIABILITIES 81,126 4,673 19,384 4,281 6,251 6,067 4,672 13,617 3,107 1,716 3,448 3,452 10,458 CAPITAL ACCOUNTS Capital paid in 666 32 176 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 142 6 44 7 12 8 8 22 4 3 5 6 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 82,564 4,742 19,764 4,355 6,379 6,142 4,763 13,830 3,156 1,748 3,508 3,531 10,646 Contingent liability on ace: eptances purchased for forei- gn correspondents 145 7 3/ 37 8 13 8 9 21 5 3 6 8 20 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 11,260 2,739 4,032 4,301 2,631 8,483 1,811 826 1,815 1,799 6,100 Collateral for F. R. notes: Gold certificate account 500 300 510 610 — 1,000 155 27 -- 5 Eligible paper U. S. Government securities 11,000 2,520 3,600 3,769 2,650 7,650 1,700 815 1,875 1,830 6,250 Total collateral 2,817 11,500 2,820 4,110 4,379 2,650 8,650 1,855 842 1,875 1,835 6,250 1/ After deducting $ 82 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. 3/ After deducting $108 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis