H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Joctors Affecting Bonk Reserves and -rffiu&P:' Condition Statement of F.R. Banks H.4.1 For immediate release November 28, 1969 The average of daily figures of total reserves of member banks declined $422 million in the latest statement week to $27,527 million. Required and excess reserves declined while member bank borrowings from Federal Reserve Banks increased. The major factors draining reserves in the latest period were float, cur rency in circulation, and other assets with Federal Reserve Banks. System Open Market operations offset some of these reserve drains by providing $164 million reserves (net), on a weekly average basis, through the outright purchase of U.S. Government securities. Member bank borrowings exceeded excess reserves by $1,144 million, compared to the re vised figure of $945 million for the previous week. Footnote 2, concerning securities loaned, appears on today's statement for the first time. This is the first week the System has engaged in such transactions, and in the future this footnote will appear whenever such loans are outstanding on Wednesday. Averae' es of daily fig ures Member bank reserves, Week ended Changi2 from week ended Wednesday, Reserve Bank credit Nov. 26, Nov . 19, Nov . 27, Nov. 26, and related items 1969 1969 1968 1969 (IrI mill ions oi: dollars) 1/ 2/ Reserve Bank credit: U. S. Government securities- Bought outright—System account 56,909 164 + 3 ,964 56,708 Held under repurchase agreements Special Certificates Federal Agency obligations- Held under repurchase agreements Acceptances- 48 5 13 50 Bought outright Held under repurchase agreements Discounts and advances- Member bank borrowings 1,207 135 624 1,146 Other Float 2,660 - 201 + 380 2,179 Other F. R. assets 2 026 - 354 - 637 2,019 ? Total Reserve Bank credit 62,850 - 252 + 4 ,318 62,102 Gold stock 10,367 -- -- 10,367 Treasury currency outstanding 6,819 + 10 + 18 6,818 80,036 - 242 + 4 ,337 79,287 Currency in circulation 52,687 + 136 + 3 ,049 53,015 Treasury cash holdings 661 - 1 - 115 661 Treasury deposits with F. F. Banks 1,018 56 + 373 853 Foreign deposits with F. R. Banks 122 25 - 97 109 Other deposits with F. R. Banks 436 -- + 16 427 Other F. R. liabilities and capital 2,138 + 70 + 314 2,167 57,062 + 123 + 3 ,539 57,232 Member bank reserves: With Federal Reserve Banks 22,973 - 367 + 796 22,056 Currency and coin 4,554 - 55 + 137 4,554 Total reserves held 27,527 - 422 + 933 26,610 Required reserves 27,464 - 358 + 1 ,055 27,464 Excess reserves 63 - 64 - 122 - 854 NOTE: A net of $108 million of surplus reserves were eligible to be carried forward from the week ended November 19, into the week ending November 26. 1/ Reflects $370 million of securities sold, and scheduled to be bought back, ~~ under matched sale-purchase transactions. 2/ Includes $6 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. On November 26, 1969, U. S. Government securities held in custody by the Federal Reserve Banks, for foreign account were $7,589 million, an increase of Digitized$ fo3r0 F4R AmSiElRl ion for the week. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Nov. 26, Nov. 19, Nov. 27, 1969 1969 1968 A S S E TS Gold certificate account 10,036 + 10 Cash (548) 125 5 - 122 Discounts and advances 1,146 + 493 - 49 Acceptances: Bought outright 50 10 Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities Bought outright- Bills 21,820 95 +2,787 Certificates Notes 31,392 +2,686 Bonds 3,496 -1,979 Total bought outright 1/ 2/ 56,708 95 +3,494 Held under repurchase agreements Total U. S, Government securities 56,708 95 +3,494 Total loans and securities 57,904 + •• 403 +3,435 Cash items in process of collection (2 ,565) 9,306 -1,619 + 721 Bank premises 113 -- 1 Other assets .3/ 1,906 + 10 - 851 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3 ,113) 79,390 -i_«2_ll +3,192 L I A B I L I T I ES Federal Reserve notes (548) 46,651 + 346 +2,740 Deposits: Member bank reserves 22,056 - 573 - 688 U. S. Treasurer—general account 853 - 246 + 412 Foreign 109 - 38 - 143 Other 4/ 427 + 2i Z £ Total deposits 23,445 - 828 - 424 Deferred availability cash items (2,565) 7,127 - 809 + 551 Other liabilities and accrued dividends 59J9_ + 14. + 198 TOTAL LIABILITIES (3,113) 77,822 -1,277 +3,065 £ A P I T A L A C C O U N TS Capital paid in 666 + 1 + 41 Surplus 630 — + 32 Other capital accounts 272 + 65 + 54 Contingent liability on acceptances purchased for foreign correpondents 146 + 1 + 32 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Reflects $ 370 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $6 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 3/ Includes assets denominated in foreign currencies and IMF gold deposited. 4/ Includes IMF g^old deposit, MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 26, 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 Ac ceptances Holdings Weekly changes Within 15 days 1,137 13 2,327 -678 16 days to 90 days 9 37 9,533 +128 91 days to 1 year — — 23,717 4455 Over 1 year to 5 year•ss — 12,811 — Over 5 years to 10 ye.aarrss — 7,642 — Over 10 years -- — 678 — Total 1,146 50 56,708 - 95 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 26, 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 10,036 682 2,080 614 1,109 975 584 1,908 420 171 393 293 807 F. R. notes of other banks 548 64 145 17 37 38 59 25 18 17 34 20 74 Other cash 125 4 10 5 11 9 19 14 13 4 9 8 19 Discounts and advances 1,146 209 169 18 3 85 91 147 15 82 41 23 263 Acceptances: Bought outright 50 — 50 -- — — — — — — — — -- Held under repurchase agreements -- -- -- -- -- -- -- — -- -- — -- -- Federal Agency obligations— Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- U. S. Government securities: Bought outright-- Bills 21,820 1,114 5,416 1,133 1,686 1,640 1,166 3,564 770 415 856 959 3,101 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 56,708 2,896 14,076 2,945 4,382 4,262 3,029 9,263 2,001 1,077 2,224 2 ,493 8,060 Held under repurchase agreements » _ -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities 56,708 2,896 14,076 2,945 4,382 4,262 3,029 9,263 2,001 1,077 2,224 2 ,493 8,060 Total loans and securities 57,904 3,105 14,295 2,963 4,385 4,347 3,120 9,410 2,016 1,159 2,265 2 ,516 8,323 Cash items in process of collection 11,871 735 2,034 639 827 964 1,101 2,000 574 513 764 717 1,003 Bank premises 113 2 9 2 5 11 18 17 9 5 18 8 9 Other assets J7 1,906 83 647 87 148 96 104 249 58 39 72 95 228 TOTAL ASSETS 82,503 4,675 19,220 4,327 6,522 6,440 5,005 13,623 3,108 1,908 3,555 3 ,657 10,463 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 26, 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 47,199 2,690 10,964 2,717 3,884 4,238 2,526 8,332 1,754 800 1,747 1,699 5,848 Deposits: Member bank reserves 22,056 1,158 5,680 898 1,687 1,146 1,393 3,256 755 578 920 1,246 3,339 U. S. Treasurer—general account 853 29 160 71 34 64 27 71 55 47 118 52 125 Foreign 109 5 1/ 31 5 9 5 7 16 4 2 5 6 14 Other 427 1 2/363 14 1 12 3 3 5 2 4 2 17 Total deposits 23,445 1,193 6,234 988 1,731 1,227 1,430 3,346 819 629 1,047 1,306 3,495 Deferred availability cash items 9,692 688 1,450 513 724 846 919 1,617 461 433 673 541 827 Other liabilities and accnl ed dividends 599 29 159 29 45 44 32 93 21 12 23 26 86 TOTAL LIABILITIES 80,935 4,600 18,807 4,247 6,384 6,355 4,907 13,388 3,055 1,874 3,490 3,572 10,256 CAPITAL ACCOUNTS Capital paid in 666 31 176 34 60 34 43 98 23 15 28 37 87 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts •212 13 77 13 22 18 15 44 8 5 10 12 35 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 82,503 4,675 19,220 4,327 6,522 6,440 5,005 13,623 3,108 1,908 3,555 3,657 10,463 Contingent liability on ace. eptances purchased for forei• gn correspondents 146 7 3/ 37 8 13 8 9 22 5 3 6 8 20 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 49,152 2,813 11,462 2,780 4,097 4,340 2,654 8,574 1,829 829 1,821 1,820 6,133 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 47,286 2,667 11,200 2,620 3,750 3,769 2,750 7,950 1,750 825 1,875 1,880 6,250 Total collateral 50,573 2,847 11,700 2,920 4,260 4,379 2,750 8,950 1,905 852 1,875 1,885 6,250 1/ After deducting $ 78 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit, 3/ After deducting $109 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis