H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Afftctiig Ink Rtstrvts aid Condition Stattatit of f.K. tanks H.4.1 For immediate release December 11, 1969 The average of daily figures of total reserves of member banks declined $2 million (net) in the latest statement week to $27,708 million. Required reserves declined about $50 million and excess reserves increased by a similar amount. Member bank borrowings from Federal Reserve Banks were about unchanged. Increases in currency in circulation and Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest period. Part ially offsetting these reserve drains was an increase in float of about seasonal pro portions. In addition, System Open Market operations provided almost $200 million reserves, on a weekly average basis, primarily through outright purchases of U.S. Government securities. Member bank borrowings have remained relatively constant in recent weeks at about $1.2 billion. In the latest week such borrowings exceeded excess reserves by $983 million compared to the revised figure of $1,027 million for the previous week. Averasp s of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit Dec. 10, Dec. 3, Dec. 11, Dec. 10, and related items 1969 1969 1968 1969 (Iti millions of dollars) Reserve Bank credit: U. S. Government securities-- 1/ Bought outright—System account 57,483 + 172 + 5,028 57,153 Held under repurchase agreements 162 + 3 + 162 — Special Certificates — -- - 13 -- Federal Agency obligations-- Held under repurchase agreements 19 + 10 + 19 — Acceptances- Bought outright 56 + 6 _ 3 58 Held under repurchase agreements 11 + 6 + 11 -- Discounts and advances-- Member bank borrowings 1,199 + 6 + 765 666 Other Float 2,617 + 106 _ 10 2,566 Other F. R. assets 2,035 + 27 - 866 2,082 Total Reserve Bank credit 63,582 + 335 + 5,092 62,525 Gold stock 10,367 -- — 10,367 Treasury currency outstanding 6,836 + 13 + 27 6,839 80,785 + 349 + 5,119 79,731 Currency in circulation 53,287 + 228 + 2,904 53,555 Treasury cash holdings 652 - 12 - 103 657 Treasury deposits with F. F. Banks 1,183 + 161 + 992 1,116 Foreign deposits with F. R. Banks 138 + 15 - 95 104 Other deposits with F. R. Banks 427 - 28 - 11 416 Other F. R. liabilities and capital 2,318 + 80 + 377 2,316 58,004 + 443 + 4,063 58,164 Member bank reserves: With Federal Reserve Banks 22,780 - 96 + 1,055 21,567 Currency and coin 4,928 + 94 + 192 4,928 Total reserves held 27,708 - 2 + 1,247 26,495 Required reserves 27,492 - 52 + 1,083 27,492 Excess reserves 216 + 50 + 164 - 997 NOTE: A net of $114 million of surplus reserves were eligible to be carried forward from the week ended December 3, into the wieek ending December 10. 1/ Includes $51 million securities loaned — fully secured by U.S. Government securities pledged with Federal Reserve Banks. On December 10, 1969, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,709 million, an increase of $570 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 Dec. 10, Dec. 3, Dec. 11, 1969 1969 1968 A S S E TS Gold certificate account 10, 036 + 10 * Cash (595) 115 3 - 115 Discounts and advances 666 148 + 395 Acceptances: 58 5 Bought outright 8 Held under repurchase agreements Federal Agency obligations 20 Held under repurchase agreements U. S. Government securities: Bought outright— Bills 22,265 503 +5,033 Certificates ••« ••«• Notes 31,392 +2,686 Bonds 3,496 — «1,979 Total bought outright 1/ 57,153 - 503 +5,740 Held under repurchase agreements - 156 Total U. S. Government securities 57,153 659 +5T74"0 Total loans and securities 57,877 - 830 +6,133 Cash items in process of collection (2,276) 9,365 - 707 + 259 Bank premises 114 + 1 Other assets 1/ U968_ + 38. - 936 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (2,871) 79,475 -1,501 +5,351 Federal Reserve notes (595) 47,157 + 288 +2,668 Deposits: Member bank reserves 21,567 - 977 +1,077 U. S. Treasurer-.-general account 1,116 - 151 +1,058 Foreign 104 9 - 108 Other 2/ (6) 416 - 49 z lp_ Total deposits (6) 23,203 -1,186 +2,017 Deferred availability cash items (2,270) 6,799 - 633 + 306 Other liabilities and accrued dividends 610 - 40 + 198 TOTAL LIABILITIES (2,871) 77,769 -1,571 +5,189 C A P I T AL A C C O U N TS Capital paid in 667 + 1 + 42 Surplus 630 + 32 Other capital accounts 409 + 69 + 88 Contingent liability on acceptances purchased for foreign correspondents 145 + 33 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $51 million securities loaned-^ully secured by U. S. Government securities pledged with Federal Reserve Banks. Tj Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 10, 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 DDiissccoouunnttss aanndd Federal Agency obii gations aaddvvaanncceess AAcccceeppttaanncceess Holdings Weekly changes Within 15 days 659 —* * *— 1,392 -i,uii * 16 days to 90 days 7 50 10,730 + 458 91 days to 1 year -- •»•» 23,900 - 126 Over 1 year to 5 years — — 12,811 — Over 5 years to 10 yearss __ 7,642 — Over 10 years •.- -- 678 --_ Total £66T 58 57,153 - 679 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 10, 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 10,036 679 2,116 601 1,067 933 617 1,748 367 143 262 401 1,102 F. R. notes of other banks 595 52 174 22 56 40 55 26 19 13 32 22 84 Other cash 115 4 9 5 10 7 17 13 10 4 9 9 18 Discounts and advances 666 87 79 18 2 60 99 92 11 84 49 41 44 Acceptances: Bought outright 58 -- 58 -- -- — — — — — -- -- -- Held under repurchase agreements -- — -- -- — — -- -- -- -- — -- -- Federal Agency obligations-- Held under repurchase agreements -- <— — — -- — — — -- -- -- — — U. S. Government securities: Bought outright— Bills 22,265 1,129 5,550 1,151 1,747 1,672 1,193 3,660 797 420 870 944 3,132 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 57,153 2,899 14,248 2,956 4,484 4,291 3,061 9,395 2,044 ~T, 078 ~2 ,234 ~~2 ,423 8,040 Held under repurchase agreements -- — — -- — — — — — — — — — Total U. S. Government securities 57,153 2,899 14,248 2,956 4,484 4,291 3,061 9,395 2,044 ~~T, 078 T ,234 ~2 ,423 8,040 Total loans and securities 57,877 2,986 14,385 2,974 4,486 4,351 3,160 9,487 2,055 l, 162 2 ,283 2 ,464 8,084 Cash items in process of collection 11,641 691 2,180 613 790 918 1,061 1,890 622 452 763 635 1,026 Bank premises 114 2 9 2 5 11 18 17 10 5 18 8 9 Other assets _1/ 1,968 85 690 95 147 99 104 255 59 40 72 93 229 TOTAL ASSETS 82,346 4,499 19,563 4,312 6,561 6,359 5,032 13,436 3,142 l, 819 3 ,439 3 ,632 10,552 \l 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 10, 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 47,752 2,734 11,060 2,740 3,951 4,287 2,596 8,397 1,786 811 1,765 1,724 5,901 Deposits: Member bank reserves 21,567 966 6,038 876 1,589 1,050 1,317 3,048 723 524 887 1,232 3,317 U. S. Treasurer—general account 1,116 66 135 76 137 95 106 98 66 61 87 60 129 Foreign 104 5 1/ 26 5 9 5 7 16 4 2 5 6 14 Other 422 * 2/378 2 1 13 3 4 1 1 3 1 15 Total deposits 23,209 1,037 6,577 959 1,736 1,163 1,433 3,166 794 588 982 1,299 3,475 Deferred availability cash items 9,069 615 1,326 495 678 769 866 1,516 482 371 598 493 860 Other liabilities and accrued dividends 610 30 152 31 48 44 32 100 22 12 24 26 89 TOTAL LIABILITIES 80,640 4,416 19,115 4,225 6,413 6,263 4,927 13,179 3,084 1,782 3,369 3,542 10,325 CAPITAL ACCOUNTS Capital paid in 667 32 176 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 409 20 112 20 32 29 22 66 13 8 15 17 55 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 82,346 4^499 19 56_3_ 4,312 6,561 6,359 5,032 13,436 3,142 1,819 3,439 3,632 10,522 1 Contingent liability on ace: eptances purchased for foreign 145 7 3/ 37 8 13 8 9 21 5 3 6 8 20 corre s pondent s FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 49,757 2,831 11,592 2,810 4,155 4,392 2,735 8,664 1,869 840 1,838 1,829 6,202 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 47,752 2,667 11,200 2,620 3,750 3,855 2,850 7,950 1,780 825 1,875 1,880 6,500 Total collateral 51,039 2,847 11,700 2,920 4,260 4,465 2,850 8,950 1,935 852 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. Digitized for FRA3S/E R After deducting $ 108 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis