H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release January 2, 1970 The average of daily figures of total reserves of member banks increased $693 million in the latest statement week to $28,548 million. Required reserves increased reflecting the usual seasonal rise in private demand deposits in mid- December. Excess reserves also increased while member bank borrowings from Federal Reserve Banks were about unchanged. A seasonal rise in currency in circulation and an increase in Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest week. A contra-seasonal rise in float, due in part to snow storms in the Northeastern part of the country, and an increase in other Federal Reserve assets more than offset these reserve drains. In addition, System Open Market operations provided nearly $300 million of reserves (net), on a weekly average basis. All of the reserves were added through repurchase transactions; outright holdings of U.S. Government securities declined moderately. Member bank borrowings from Federal Reserve Banks remained near the $1.1 billion average of recent weeks and exceeded excess reserves by $717 million, compared to the revised figure of $854 million for the previous week. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 31, Dec. 24, January 1, December 3 and related items 1969 1969 1969 1969 Reserve Bank credit: U. S. Government securities- 1/ Bought outright--System account 57,154 19 + 4,410 57,154 Held under repurchase agreements 66 + 215 + 40 Federal Agency obligations-- Held under repurchase agreements 71 -L 58 + 60 Acceptances- Bought outright 59 - 1 + 4 64 Held under repurchase agreements 39 + 33 + 11 Discounts and advances- Member bank borrowings 1,104 10 216 183 Other Float 3,854 + 315 + 93 3,339 Other F. R. assets 2,480 + 232 - 487 2,743 Total Reserve Bank credit 65,028 + 845 + 3 ,916 63,483 Gold stock 10,367 10,367 Treasury currency outstanding 6,848 + 2 + 39 6,848 82,243 + 847 + 3 ,955 80,698 Currency in circulation 53,975 + 218 + 3 ,019 53,885 Treasury cash holdings 659 + 8 - 81 657 Treasury deposits with F, R. Banks 1,405 + 159 + 826 1,312 Foreign deposits with F. .. Banks 163 + 20 - 52 134 Other deposits with F. R. Banks 517 + 68 - 43 807 Other F. R. liabilities i d capital 2,153 + 20 + 334 1,919 Member bank reserves: 58,872 + 493 + 4,003 58,714 With Federal Reserve Banks 23,371 + 355 48 21,984 Currency and coin 5,177 + 338 + 256 5,177 Total reserves held 28,548 + 693 + 208 27,161 Required reserves 28,161 + 546 + 722 28,161 Excess reserves 387 + 147 514 -1,000 NOTE: A net of $176 million of surplus reserves were eligible to be carried forward from the week ended December 24, into the week ending December 31. 17 Includes $50 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. On December 31, 1969, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,030 million, a decrease of $269 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. 31, Dec. 24, Dec. 31 1969 1969 1968 A S S E TS Gold certificate account 10,036 10 * Cash (771) 110 5 97 Discounts and advances 183 - 538 3 Acceptances: Bought outright 64 + 5 Held under repurchase agreements 42 Federal Agency obligations Held under repurchase agreements 90 U. S. Government securities: Bought outright- Bills 22,266 +3,510 Certificates Notes 31,392 +2,686 Bonds 3,496 -1,979 Total bought outright 1/ 57,154 6 +4,217 Held under repurchase agreements - 359 Total U« S. Government securities 57J.54 - 365 +4,217 Total loans and securities 57,401 -1,030 +4,220 Cash items in process of collection (2,425) 10,463 - 719 + 999 Bank premises 116 + 1 + 3 Other assets 2/ 2,627 + 478 - 267 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,196) 80,753 -1,275 +4,868 L I A B I L I T I E S. Federal Reserve notes (771) 47,473 151 +2,747 Deposits: Member bank reserves 21,984 - 939 + 166 U. S. Treasurer—general account 1,312 + 254 + 609 Foreign 134 - 34 82 Other J3/ 807 + 286 + 60 Total deposits 24,237 - 433 + 753 Deferred availability cash items (2,425) 7,124 - 447 +1,104 Other liabilities and accrued dividends 4/ 581 - 15 + 186 TOTAL LIABILITIES 79,415 -1, 046 +4,790 C A P I T AL A C C O U N T S* Capital paid in 669 + 39 Surplus 669 + 39 + 39 Other capital accounts -- - 268 — Contingent liability on acceptances purchased for foreign correspondents 146 37 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $50 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 7j Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 31. 1969 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance w:j.th maximum maturity of the agreements.) U. S. Government securities and Discounts and Federal Agency obligations advances Acceptances Holdings Weekly changes Within 15 days 180 15 '" 2,148 16 days to 90 days 3 49 11,168 +602 91 days to 1 year — 22,707 -262 Over 1 year to 5 years \— 12,811 Over 5 years to 10 years -- 7,642 Over 10 years -- — 678 Total 183 64 57,154 -455 4/ No accrued dividends at end of December. 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 31, 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) AS S E T S Gold certificate account 10,036 570 2,325 526 862 927 494 1,468 345 131 424 324 1,640 F. R. notes of other banks 771 76 159 35 68 68 91 49 29 21 44 29 102 Other cash 110 5 8 5 10 6 15 14 10 3 7 8 19 Discounts and advances 183 2 52 1 4 12 39 19 15 3 18 17 * Acceptances: Bought outright 64 — 64 — — -- __ — — — -- -- — Held under repurchase agreements -- -- — — -- — -- — — — -- — — Federal Agency obligations— Held under repurchase agreements — — -- — — — — — — — — U. S. Government securities: Bought outright— Bills 22,266 1,129 5,423 1,197 1,726 1,665 1,242 3,701 820 448 869 958 3,088 Certificates -- -- -- -- -- -- -- -- -- .. -- -._ Notes 31,392 1,593 7,646 1,687 2,434 2,347 1,751 5,217 1 ,157 632 1,225 1 ,350 4,353 Bonds 3,496 177 852 188 271 261 195 581 129 70 137 150 485 r Total bought outright 57,154 2,899 13,921 3,072 4,431 4,273 3,188 9,499 2 ,106 ,150 2,231 2 ,458 7,926 Held under repurchase agreements — — -- -- — -- -- — — — — -- — Total U. S. Government securities 57,154 2,899 13,921 3,072 4,431 4,273 3,188 9,499 2 ,106 T ,150 2,231 2 ,458 7,926 Total loans and securities 57,401 2,901 14,037 3,073 4,435 4,285 3,227 9,518 2 ,121 1 ,153 2,249 2 ,475 7,927 Cash items in process of collection 12,888 786 2,494 735 870 1,070 1,119 2,187 622 432 882 714 Bank premises 116 2 9 2 6 11 18 17 10 6 18 8 ^ Other assets 1/ 2,627 122 828 124 210 138 149 361 84 55 101 131 324 • TOTAL ASSETS 83,949 4,462 19,860 4,500 6,461 6,505 5,113 13,614 3 ,221 1 ,801 3,725 3 ,689 10,998 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 DECEMBER 31, 1969 New Phila Cleve Rich St. Minne Kansas i San 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 48,244 2,755 11,264 2,757 3,953 4,327 2,642 8,458 1,797 819 1,775 1,747 5,950 Deposits: Member bank reserves 21,984 834 5,826 991 1,551 1,090 1,322 2,950 824 538 1,056 1,222 3,780 U. S. Treasurer—general account 1,312 65 303 71 94 131 96 108 68 49 128 81 118 Foreign 134 6 1/ 37 7 12 7 8 19 4 3 6 7 18 Other 807 16 7/539 18 24 29 18 51 12 6 15 13 66 Total deposits 24,237 921 6,705 1,087 1,681 1,257 1,444 3,128 908 596 1,205 1,323 3,982 Deferred availability cash items ' 9,549 693 1,398 557 663 809 909 1,734 449 344 666 520 807 Other liabilities and accrued dividends 581 29 139 31 44 44 32 96 21 12 23 25 85 TOTAL LIABILITIES 82,611 4,398 19,506 4,432 6,341 6,437 5,027 13,416 3,175 1,771 3,669 3,615 •L 0,824 CAPITAL ACCOUNTS Capital paid in 669 32 177 34 60 34 43 99 23 15 28 37 87 Surplus 669 32 177 34 60 34 43 99 23 15 28 37 87 Other capital accounts — — — -- — — — -- — — -- — -- TOTAL LIABILITIES AND CAPITAL ACCOUNTS 83.949 4,462 JL9 _. 860 4,500 6,461 6.505 5,113 13,614 3,221^ 1.801 3,725 3.689 :L 0.998 Contingent liability on ace: eptances purchased for foreign correspondents 146 7 3/ 37 8 13 8 9 22 5 3 6 8 20 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 50,412 2,875 11,793 2,829 4,200 4,456 2,798 8,793 1,876 844 1,841 1,863 6,244 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 48.152 2.717 11.400 2.620 3.750 3.955 2.850 7.950 1.780 825 1.875 1.930 6.500 Total collateral 51,374 2,897 11,900 2,920 4,260 4,500 2,850 8,950 1,935 852 1,875 1,935 6,500 1/ After deducting S 97 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. 3/ After deducting S 109 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis