H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.•'*q£Cow.''.. FEDERAL RESERVE Factors Afftctiag Ink ttsarvts aid '•?**£&?. Condition Stnttatit tf F.I. tanks H.4.1 For immediate release December 4, 1969 The average of daily figures of total reserves of member banks increased $108 million in the latest statement week to $27,655 million. Required reserves increased seasonally, while excess reserves and member bank borrowings from Federal Reserve Banks were about unchanged from the previous week. A seasonal increase in currency in circulation and a seasonal decline in float were the major factors absorbing reserves in the latest week. System Open Market operations offset these reserve drains by providing about $600 million of reserves, on a weekly average basis. Most of these reserves were supplied through the outright purchase of U.S. Government securities; however, near the end of the period some reserves were also supplied through repurchase agreements. Member bank borrowings exceeded excess reserves by $1,096 million, compared to the revised figure of $1,124 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from weei k ended Wednesday, Reserve Bank credit, December 3, November 26, December 4,D ecember 3, and related items 1969 1969 1968 1969 Reserve Bank credit: U. S. Government securities— 1/ Bought outright--System account 57,311 + 402 + 4,059 57,656 Held under repurchase agreements 159 + 159 + 131 156 Federal Agency obligations-- Held under repurchase agreements 9 + 9 + 8 20 Acceptances-- Bought outright 50 + 2 _ 9 53 Held under repurchase agreements 5 + 5 + 5 8 Discounts and advances— Member bank borrowings 1,193 14 + 662 814 Other Float 2,457 _ 222 + 181 2,596 Other F. R. assets 2,008 - 18 - 894 2,043 Total Reserve Bank credit 63,192 + 323 + 4,143 63,346 Gold stock 10,367 — — 10,367 Treasury currency outstanding 6,823 + 4 + 16 6,829 80,382 + 328 + 4,158 80,542 Currency in circulation 53,059 + 372 + 2,982 53,253 Treasury cash holdings 664 + 3 - 112 659 Treasury deposits with F. R. Banks 1,022 + 4 + 439 1,267 Foreign deposits with F. R. Banks 123 + 1 - 102 113 Other deposits with F. R. Banks 455 + 19 + 7 465 Other F. R. liabilities and capital 2,238 + 100 + 354 2,286 Member bank reserves: 57,561 + 499 + 3,568 58,043 With Federal Reserve Banks 22,821 - 172 + 590 22,500 Currency and coin 4,834 + 280 + 206 4,834 Total reserves held 27,655 + 108 + 796 27,334 Required reserves 27,558 + 94 + 1,178 27,558 Excess reserves 97 + 14 - 382 1 - 224 NOTE: A net of $90 million of surplus reserves were eligible to be carried forward from the week ended November 26, into the week ending December 3. On December 3, 1969, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,139 million, a decrease of $450 million for the week. 17 Includes $12 million securities loaned fully secured by U.S. Government securities pledged with Federal Reserve Banks. 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 Dec. 3, Nov. 26," Dec. 4, 1969 1969 1968 A S S E TS Gold certificate account 10,036 10 Cash (564) 118 - 7 - 124 Discounts and advances 814 - 332 + 693 Acceptances: Bought outright 53 + 3 7 Held under repurchase agreements 8 + 8 + 8 Federal Agency obligations Held under repurchase agreements 20 20 f 20 U. S. Government securities: Bought outright- Bills 22,768 + 948 44,303 Certificates Notes 31,392 -- +2,686 Bonds 3,496 — -1,979 Total bought outright 1/ 57,656 + 948 +5,010 Held under repurchase agreements 156 + 156 + 156 Total U. S. Government securities -5773T2 -+T7 H54 +5,166 Total loans and securities 3ST7IT7 + "8133 +5,880 Cash items in process of collection (2,590) 10,028 + 704 + 754 Bank premises 113 — 1 Other assets 2J 1,930 + 24 - 878 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,154) 80,932 +1,524 +5,641 L I A B I L I T I ES Federal Reserve notes (564) 46,869 + 218 +2,714 Deposits: Member bank reserves 22,500 + 426 +1,293 U. S. Treasurer—general account 1,267 + 414 + 618 Foreign 113 + 4 - 112 Other 3/ (2) 465 + 38 + 19 Total deposits (2) 24,345 + 882 +1,818 Deferred availability cash items (2,588) 7,432 + 305 + 729 Other liabilities and accrued dividends 650 + 51 + 238 TOTAL LIABILITIES (3,154) 79,296 +1 ,456 +5,499 C A P I T AL A C C O U N TS Capital paid in 666 «• •• + 41 Surplus 630 — + 32 Other capital accounts 340 - 68 + 69 Contingent liability on acceptances purchased for foreign correspondents 145 - 1 + 32 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $12 million securities loaned--fully secured by U. S. Government securities pledged with Federal Reserve Banks, 2/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 3, 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 5TT- 2,40? 7b * 16 days to 90 days 40 10,272 + 739 91 days to 1 year -- 24,026 + 309 Over 1 year to 5 years — 12,811 — Over 5 years to 10 years -« 7,642 — Over 10 years -- 678 -- Total 814 61 57,832 +1,124 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 DECEMBER 3 1969 3 San New Phila Cleve Rich St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis apc> lis City cisco (In millions of dollars) A S S E TS Gold certificate account 10,036 675 1,979 673 927 900 625 2,080 292 153 259 398 1,075 F. R. notes of other banks 564 55 157 20 39 39 56 29 18 15 37 22 77 Other cash 118 3 10 5 10 9 17 12 13 3 9 9 18 Discounts and advances 814 87 203 23 -_ 83 84 125 12 51 21 25 99 Acceptances: Bought outright 53 -- 53 — -- -- -- -- -- -- -- - - -- Held under repurchase agreements 8 -- 8 -- -- -- -- -- -- -- __ -- Federal Agency obligations— Held under repurchase agreements 20 20 - __ U. S. Government securities: Bought outright — Bills 22,768 1,155 5,676 1,177 1,787 1,709 1,220 3,742 814 429 890 966 3,203 Certificates — — -- -- -- -- -- -- -- _- -- -_ -- Notes 31,392 1,593 7,826 1,624 2,463 2,357 1,681 5,160 1 ,122 592 1 ,227 1 ,331 4,416 Bonds 3,496 177 872 181 274 262 187 575 125 66 137 148 492 Total bought outright 57,656 2,925 14,374 2,982 4,524 4,328 3,088 9,477 2 ,061 ~T, 087 2 ,254 T ,445 8,111 Held under repurchase agreements 156 — 156 — -- — -- __ -- — -- -- Total U. S. Government securities 57,812 2,925 14,530 2,982 4,524 4,328 3,088 9,477 2_, 061 1 ,087 2 ,254 2 ,445 8,111 Total loans and securities 58,707 3,012 14,814 3,005 4,525 4,411 3,172 9,602 2 ,073 1 ,138 2 ,275 2 ,470 8,210 Cash items in process of collection 12,618 769 2,168 689 904 1,027 1,123 2,105 697 497 854 685 1,100 Bank premises 113 2 9 2 5 11 18 17 9 5 18 8 9 Other assets 1/ 1,930 82 647 93 171 96 104 250 59 38 70 93 227 TOTAL ASSETS 84,086 4,598 19,784 4,487 6,581 6,493 5,115 14,095 3 ,161 1 ,849 3 ,522 3 ,685 10,716 \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 DECEMBER 3, 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) Federal Reserve notes 47,433 2,713 11,014 2,727 3,907 4,260 2,553 8,348 1,763 805 1,756 1,708 5,879 Deposits: Member bank reserves 22,500 1,002 6,129 974 1,576 1,061 1,398 3,544 702 533 892 1,236 3,453 U. S. Treasurer—general account 1,267 72 178 106 113 147 71 106 99 39 120 81 135 Foreign 113 5 1/ 35 5 9 5 7 16 4 2 5 6 14 Other 467 * 2/420 1 1 12 3 4 1 2 4 2 17 Total deposits 24,347 1,079 6,762 1,086 1,699 1,225 1,479 3,670 806 576 1,021 1,325 3,619 Deferred availability cash items 10,020 696 1,395 559 784 872 946 1,730 514 420 652 539 913 Other liabilities and accril ed dividends 650 31 183 31 48 46 35 101 22 13 26 26 88 TOTAL LIABILITIES 82,450 4,519 19,354 4,403 6,438 6,403 5,013 13,849 3,105 1,814 3,455 3,598 10,499 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 340 17 94 17 27 23 19 55 11 6 12 14 45 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 84,086 4,598 19,784 4,487 6,581 6,493 5,115 14,095 3,161 1,849 3,522 3,685 10,716 Contingent liability on ace: eptances purchased for fore:-g n correspondents 145 7 3/37 8 13 8 9 21 5 3 6 8 20 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 49,443 2,808 11,563 2,796 4,126 4,368 2,689 8,611 1,851 830 1,825 1,826 6,150 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 47,622 2,667 11,200 2,620 3,750 3,855 2,750 7,950 1,750 825 1,875 1,880 6,500 Total collateral 50,909 2,847 11,700 2,920 4,260 4,465 2,750 8,950 1,905 852 1,875 1,885 6,500 1/ After deducting $ 78 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