H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Factors Affecting Boik Rtstrvfs and Condition Statement of F.R- Banks H.4.1 For immediate release November 20, 1969 The average of daily figures of total reserves of member banks increased (net) $202 million in the latest statement week to $27,898 million. Required re serves increased, primarily reflecting the sharp increase in U. S. Government de mand demposits associated with the late October financing. Excess reserves and mem ber bank borrowings from the Federal Reserve declined on average. A seasonal increase in currency in circulation and a decline in Other Federal Reserve Assets were the major factors absorbing reserves in the latest week. A sharp seasonal increase in float partially offset these reserve drains. In addi tion, System Open Market operations provided over $700 million of reserves (net), on a weekly average basis, through the outright purchase of U. S. Government secur ities. Member bank borrowings exceeded excess reserves by $996 million, compared to the revised figure of $890 million for the previous week. Averages o f daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 19, Nov. 12, Nov. 20, Nov. 19, and related items 1969 1969 1968 1969 Reserve Bank credit: U. S. Government securities— Bought outright—System account 56,745 + 815 + 3,243 56,803 Held under repurchase agreements -- - 67 -- — Federal Agency obligations-- Held under repurchase agreements — 10 — — Acceptances-- Bought outright 43 + 1 19 45 Held under repurchase agreements 4 Discounts and advances— Member bank borrowings 1,072 172 + 559 653 Other Float 2,811 + 532 + 133 2,962 Other F. R. assets 2,380 - 501 + 411 2,009 Total Reserve Bank credit 63,051 + 593 + 4,328 62,472 Gold stock 10,367 -- -- 10,367 Treasury currency outstanding 6,809 + 5 + 17 6,814 80,227 + 598 + 4,344 79,653 Currency in circulation 52,551 + 237 + 3,076 52,655 Treasury cash holdings 662 - 8 103 665 Treasury deposits with F. R. Banks 1,074 - 81 + 459 1,099 Foreign deposits with F. R. Banks 147 + 10 8 147 Other deposits with F. R. Banks 436 - 11 7 398 Other F. R. liabilities and capital 2,068 - 71 + 288 2,087 56,939 + 77 + 3,704 57,051 Member bank reserves: With Federal Reserve Banks 23,289 + 522 + 641 22,602 Currency and coin 4,609 - 320 + 297 4,609 Total reserves held 27,898 + 202 + 938 27,211 Required reserves 27,822 + 480 + 1,091 27,822 Excess reserves 76 - 278 - 153 1 - 611 NOTE: A net of $211 million of surplus reserves were eligible to be carried forward from the week ended November 12, into the week ending November 19. On November 19, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,285 million, a decrease of $270 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. 19, Nov. 12, Nov. 20, 1969 1969 1968 A S S E TS Gold certificate account 10,036 10 * Cash (569) 130 4 - 135 Discounts and advances 653 - 43 + 511 Acceptances: Bought outright 45 16 Held under repurchase agreements Federal Agency obligations Held under repurchase agreements U. S. Government securities: Bought outright— Bills 21,915 + 443 +3,705 Certificates Notes 31,392 + 35 +2,686 Bonds 3,496 + 28 -1,979 Total bought outright 56,803 + 506 +4,412 Held under repurchase agreements -- — -- Total U. S. Government securities 56,803 + 506 +4,412 Total loans and securities 57,501 + 466 +4,907 Cash items in process of collection (2,784) 10,898 +1, 608 +1,119 Bank premises 113 — 1 Other assets 1/ 1.896 - 898 - 194 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,353) 80.574 +Ld U +5.706 t i H i t i in s Federal Reserve notes (569) 46,305 + 22 +2,843 Deposits: Member bank reserves 22,602 + 615 +1,520 U. S. Treasurer—general account 1,099 + 225 + 456 Foreign 147 + 41 8 Other 2/ (10) 398 - 50 - 26 Total deposits (10) 24,246 + 831 +1,942 Deferred availability cash items (2,774) 7,936 + 239 + 624 Other liabilities and accrued dividends 585 + 16 + 181 TOTAL LIABILITIES (3,353) 79,072 +1, 108 +5,590 C A P I T AL A C C O U N TS Capital paid in 665 1 + 42 Surplus 630 — + 32 Other capital accounts 207 f 65 + 42 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 19, 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 5?5 TZ 3,00? —+i,22y— 16 days to 90 days 8 31 9,405 - 910 91 days to 1 year 23,262 +1,328 Over 1 year to 5 years 12,811 11 Over 5 years to 10 years-- 7,642 -1,134 Over 10 years -- 678 + 4 Total 653 45 56,803 + 506 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 19, 1969 San New Phila Cleve Rich St. Minne Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 10,036 653 2,340 500 854 1,016 572 1,788 316 148 337 394 1,118 F. R. notes of other banks 569 63 151 18 37 42 54 26 19 17 31 24 87 Other cash 130 4 10 5 13 10 19 14 13 3 9 9 21 Discounts and advances 653 65 109 i 51 13 81 140 10 108 30 10 35 Acceptances: Bought outright 45 — 45 — — — — — -- — — — — Held under repurchase agreements — — — — — — — — — — -- — -- Federal Agency obligations-- Held under repurchase agreements — — -- — — — — — — — U. S. Government securities: Bought outright-- Bills |21,915 1,119 5,439 1,138 1,693 1,647 1,171 3,579 773 417 860 964 3,115 Certificates — — — — — — -- — — -- -- -- -- Notes 31,392 1,603 7,792 1,630 2,426 2,359 1,677 5,128 1,108 596 1,231 1 ,380 4,462 Bonds 3,496 179 868 182 270 263 186 571 123 66 137 154 497 Total bought outright 56,803 ! 2,901 14,099 2,950 4,389 4,269 3,034 9,278 2,004 ~T, 079 2,228 T ,498 8,074 Held under repurchase agreements -- — — -- — — — — — — -- -- -r Total U. S. Government securities 56,803 2,901 14,099 2,950 4,389 4,269 3,034 9,278 2,004 ,079 2,228 ~~T, 498 8,074 Total loans and securities 57,501 2,966 14,253 2,951 4,440 4,282 3,115 9,418 2,014 1 ,187 2,258 2 ,508 8,109 Cash items in process of collection; 13,682 849 2,557 732 971 1,115 1,216 2,198 738 531 856 736 1,183 Bank premises 113 2 9 2 5 11 18 17 9 5 18 8 9 Other assets _1/ 1,896 82 647 93 147 96 103 247 57 39 70 93 222 TOTAL ASSETS 83,927 4,619 19,967 4,301 6,467 6,572 5,097 13,708 3,166 1 ,930 3,579 3 ,772 10,749 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 NOVEMBER 19, 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 46,874 2,688 10,892 2,698 3,856 4,204 2,492 8,279 1,741 797 1,734 1,687 5,806 Deposits: Member bank reserves 22,602 973 6,368 840 1,538 1,136 1,372 3,334 695 590 969 1,315 3,472 U. S. Treasurer--general account 1,099 66 115 67 73 154 93 66 94 43 106 66 156 Foreign 147 7 1/ 39 8 13 8 9 21 5 3 6 8 20 Other 408 * 2/361 3 -- 12 2 5 1 3 3 2 16 Total deposits 24,256 1,046 6,883 918 1,624 1,310 1,476 3,426 795 639 1,084 1,391 3,664 Deferred availability cash items 10,710 784 1,640 580 811 934 1,003 1,686 559 449 677 588 999 Other liabilities and accrued dividends 585 29 155 28 43 44 31 93 20 12 22 25 83 TOTAL LIABILITIES 82,425 4,547 19,570 4,224 6,334 6,492 5,002 13,484 3,115 1,897 3,517 3,691 10,552 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 207 10 61 10 17 13 12 33 6 4 7 8 26 TOTAL LIABILITIES AND 83,927 4,619 19,967 4,301 6,467 6,572 5,097 13,708 3,166 1,930 3,579 3,772 10,749 CAPITAL ACCOUNTS 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 48,964 2,810 11,448 2,751 4,059 4,308 2,623 8,552 1,826 —83I~ 1,815 1,816 6,125 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 47,126 2,667 11,200 2,620 3,600 3,769 2,750 7,950 1,750 815 1,875 1,880 6,250 Total collateral 50,413 2,847 11,700 2,920 4,110 4,379 2,750 8,950 1,905 842 1,875 1,885 6,250 1/ After deducting $108 million participations of other Federal Reserve Banks. 7/ Includes IMF gold deposit. * $500,000. Less than 3/ After deducting $108 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis