H.4.1 Factors Affecting Reserve Balances of Depository Institutions

sStfgS:-. F E D E R AL R E S E R VE statistical release H.4.1 For immediate release December 18, 1969 The average of daily figures of total reserves of member banks increased $182 million in the latest statement week to $27,929 million. Member bank borrowings from Federal Reserve Banks declined while required reserves rose sharply. Much of the rise in required reserves was due to seasonal factors and in part, banks met this seasonal increase by reducing excess reserves to only nominal levels. A rise in float, about seasonal in proportion, and a decline in Treasury deposits with Federal Reserve Banks were the major factors providing reserves in the latest week. Partially offsetting these reserve supplies was a seasonal increase in currency in circulation which drained about $250 million of reserves. In addition, System Open Market operations drained about $200 million of reserves (net), on a weekly average basis, primarily through the outright sale of U.S. Government securities. Member bank borrowings exceeded excess reserves by $1,040 million, compared to the revised figure of $944 million for the previous week. Averaj: es of daily figures Member bank reserves, Week ended Change from wee k ended Wednesday, Reserve Bank credit Dec. 17, Dec. 10, Dec. 18, Dec. 17, and related items 1969 1969 1968 1969 (Iri millions of: dollars) Reserve Bank credit: U. S. Government securities— 1/ Bought outright--System account 57,279 - 204 + 5,546 57,229 Held under repurchase agreements 132 - 30 + 132 298 Special Certificates — -- - 339 — Federal Agency obligations-- Held under repurchase agreements 24 -r 5 r 24 57 Acceptances-- Bought outright 59 + 3 + 1 60 Held under repurchase agreements 18 + 7 + 18 43 Discounts and advances-- Member bank borrowings 1,043 156 f 468 682 Other Float 2,961 + 305 _ 423 3,338 Other F. R. assets 2,134 + 99 - 880 2,257 Total Reserve Bank credit 63,649 + 28 + 4,545 63,964 Gold stock 10,367 — — 10,367 Treasury currency outstanding 6,841 + 5 + 34 6,844 80,857 + 34 + 4,579 81,175 Currency in circulation 53,525 + 238 + 2,909 53,684 Treasury cash holdings 656 + 4 - 93 667 Treasury deposits with F. F. Banks 975 - 208 + 905 861 Foreign deposits with F. R. Banks 149 + 11 - 85 128 Other deposits with F. R. Banks 437 + 10 - 7 450 Other F. R. liabilities and capital 2,126 - 192 + 359 2,110 57,868 - 136 + 3,990 57,900 Member bank reserves: With Federal Reserve Banks 22,989 + 170 + 590 23,275 Currency and coin 4,940 + 12 + 251 4,940 Total reserves held 27,929 + 182 + 841 28,215 Required reserves. 27,926 + 434 + 1,206 27,926 Excess reserves 3 - 252 - 365 289 NOTE: A net of $165 million of surplus reserves were eligible to be carried forward from the week ended December 10, into the week ending December 17. 1/ Includes $27 million securities loaned -- fully secured by U.S. Government securities pledged with Federal Reserve Banks. On December 17, 1969, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,792 million, an increase of $83 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. 17, Dec. 10, Dec. 18, 1969 1969 1968 A S S E TS Gold certificate account 10,036 — r 10 * i Cash (605) 111 - 4 - 109 Discounts and advances 682 ' + 16 - 286 Acceptances: Bought outright 60 + 2 + 5 Held under repurchase agreements 43 + 43 + 43 Federal Agency obligations Held under repurchase agreements 57 + 57 57 U. S. Government securities: Bought outright-- Bills 22,341 76 +5,522 Certificates Notes 31,392 +2,686 Bonds 3,496 -1.979 Total bought outright 57,229 + 76 +6,229 Held under repurchase agreements 298 + 298 + 298 Total U. S. Government securities 1/ 57,527 + 374 +6,527 Total loans and securities 58,369 + 492 +6,346 Cash items in process of collection (3,035) 11,557 +2,178 + 493 Bank premises 115 + 1 + 1 Other assets 2/ 2,142 + 174 - 730 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,640) 82,330 +2.841 +6.011 L I A B I L I T I E S, Federal Reserve notes (605) 47,287 + 130 +2,677 Deposits: Member bank reserves 23,275 +1,694 +1,697 U. S. Treasurer—general account 861 - 255 + 419 Foreign 128 + 24 - 100 Other 3/ 450 ± 34. ± 2. Total deposits 24,714 +1,497 +2,018 Deferred availability cash items (3,035) 8,219 +1,420 + 978 Other liabilities and accrued dividends 614 + 4 + 223 TOTAL LIABILITIES (3,640) 80,834 +3,051 +5,896 C A P I T AL A C C O U N T S. Capital paid in 667 .. + 41 Surplus 630 — + 32 Other capital accounts 199 • 210 + 42 Contingent liability on acceptances purchased <; for foreign correspondents 147 + 2 + 34 * Figures in parentheses are the eliminations made in the consolidating process. \J Includes $27 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 17, 1969 1 " i ii i i i • • H i ii mi i wjj ii J .. i i (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 i Holdings * Weekly changes Within 15 days 677 49 2,122 +730 16 days to 90 days 5 54 S 10,967 +237 91 days to 1 year -- -- 23,364 -536 Over 1 year to 5 years — 12,811 — Over 5 years to 10 yeairrss -- 7,642 -- Over 10 years -_ -- 678 -- Total 682" 103 57,584 +431 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 17, 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 47,892 2,744 11,118 2,749 3,942 4,313 2,613 8,422 1,789 814 1,767 1,732 5,889 Deposits: Member bank reserves 23,275 992 6,342 909 1,614 1,116 1,314 3,312 721 583 959 1,290 4,123 U. S. Treasurer—general account 861 67 115 42 68 136 74 75 54 34 83 38 75 Foreign 128 6 1/ 39 6 10 6 8 18 4 3 5 7 16 Other 450 3 2/403 4 -- 11 2 3 3 2 3 1 15 Total deposits 24,714 1,068 6,899 961 1,692 1,269 1,398 3,408 782 622 1,050 1,336 4,229 Deferred availability cash items 11,254 763 1,723 612 884 1,011 1,094 1,915 562 451 699 587 953 Other liabilities and accrued dividends 614 30 164 30 48 45 32 98 21 12 24 26 84 TOTAL LIABILITIES 84,474 4,605 19,904 4,352 6,566 6,638 5,137 13,843 3,154 1,899 3,540 3,681 11,155 CAPITAL ACCOUNTS Capital paid in 667 31 176 34 60 34 43 99 23 15 28 37 87 Surplus 630 31 160 33 56 33 40 93 22 14 27 36 85 Other capital accounts 199 9 58 9 16 13 11 31 6 4 7 8 27 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 85,970 4,676 20,298 4,428 6,698 6,718 5,231 14,066 3,205 1,932 3,602 3,762 11,354 Contingent liability on ace: eptances purchased for foreign correspondents 147 7 3/ 37 8 13 8 10 22 5 3 6 8 20 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 49,992 2,859 11,619 2,822 4,168 4,422 2,764 8,696 1,879 838 1,846 1,859 6,220 Collateral for F. R. notes: Gold certificate account 3,222 180 500 300 510 545 — 1,000 155 27 — 5 — Eligible paper U. S. Government securities 47,902 2,717 11,200 2,620 3,750 3,955 2,850 7,950 1,780 825 1,875 1,880 6,500 Total collateral 51,124 2,897 11,700 2,920 4,260 4,500 2,850 8,950 1,935 852 1,875 1,885 6,500 1/ After deducting $ 89 million participations of other Federal Reserve Banks, ?/ Includes IMF gold deposit. 3/ After deducting $110 million participations of other Federal Reserve Banks. 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 18, 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 10,036 616 1,914 523 840 956 525 1,840 295 194 243 397 1,693 F. R. notes of other banks 605 56 169 29 40 44 60 27 21 14 30. 21 94 Other cash 111 3 8 5 10 8 16 13 10 4 7 9 18 Discounts and advances 682 163 40 43 79 32 80 73 10 13 53 24 72 Acceptances: Bought outright 60 — 60 — — — — -- -- -- -- -- -- Held under repurchase agreements 43 -- 43 -- -- -- -- -- -- -- -_ -- _- Federal Agency obligations— Held under repurchase agreements 57 — 57 -- — — — -- — -- — -- U. S. Government securities: Bought outright- Bills 22,341 1,133 5,569 1,155 1,753 1,677 1,197 3,672 799 421 874 948 3,143 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 57,229 2,903 14,267 2,960 4,490 4,296 3,065 9,407 2 ,046 1,079 2,238 ~1 ,427 8,051 Held under repurchase agreements 298 — 298 — — — — -- -- -- -- -- :T Total U. S. Government securities 57,527 2,903 1^.565 2,960 4,490 4,296 3,065 9,407 2"rp 46~ 1,079 2,238 ~Tr 427~ 8,051 ~ Total loans and securities 58,369 3,066 14,765 3,003 4,569 4,328 3,145 9,480 2 ,056 1,09^. 2,291 2 ,451 8,123 Cash items in process of collection 14,592 841 2,705 764 1,068 1,261 1,349 2,406 747 581 934 773 1,163 Bank premises 115 2 9 2 5 11 18 17 10 6 18 8 9 Other assets _1/ 2,142 92 728 102 166 110 118 283 66 41 79 103 254 TOTAL ASSETS 85,970 4,676 20,298 4,428 6,698 6,718 5,231 14,066 3 ,205 1,932 3,602 3, 762 11,354 \j Includes assets denominated in foreign currencies and IMF gold deposited. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis