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 For immediate release January 8, 1970 The average of daily figures of total reserves of member banks declined $11 million (net) in the latest statement week to $28,650 million. Required reserves increased while excess reserves and member bank borrowings from Federal Reserve Banks declined. A seasonal decline in currency in circulation and an increase in other Federal Reserve assets were the major factors providing reserves in the latest week. Several other items also provided a significant amount of reserves. Partially offsetting these reserve increases was a decline in float of about $350 million. System Open Market operations absorbed reserves (net), on a weekly average basis. Member bank borrowings exceeded excess reserves by $648 million, compared to the revised figure of $604 million for the previous week. Averages o f daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 7, Dec. 31, Jan. 8, Jan. 7, and related items 1970 1969 1969 1970 Reserve Bank credit: 1/ U. S. Government securities-- 2/ Bought outright--System account 56,980 - 174 + 3 ,838 56,691 Held under repurchase agreements 296 + 30 + 124 -- Federal Agency obligations-- Held under repurchase agreements 43 28 + 27 -- Acceptances-- Bought outright 64 L 5 + 7 64 Held under repurchase agreements 35 - 4 + 6 — Discounts and advances-- Member bank borrowings 854 250 + 356 164 Other — -- -- -- Float 3,639 - 329 + 247 3,702 Other F. R. assets 2,731 + 251 - 173 2,704 Total Reserve Bank credit 64,642 - 499 + 4 ,432 63,325 Gold stock 10,367 — -- 10,367 Treasury currency outstanding 6,858 + 10 + 57 6,860 81,867 - 489 + 4, 490 80,552 Currency in circulation 53,586 - 389 + 3 ,114 53,385 Treasury cash holdings 666 + 7 - 97 679 Treasury deposits with F. R. Banks 1,263 - 142 + 684 1,057 Foreign deposits with F. R. Banks 207 + 44 - 10 229 Other deposits with F. R. Banks 530 + 13 + 40 503 Other F. R. liabilities and capital 1,967 - 186 + 264 1,978 Member bank reserves: 58,220 - 652 + 3 ,994 57,831 With Federal Reserve Banks 23,647 + 163 + 494 22,720 Currency and coin 5,003 - 174 + 201 5,003 Total reserves held 28,650 - 11 + 695 27,723 Required reserves 28,444 + 283 + 691 28,444 Excess reserves 206 - 294 + 4 I - 721 NOTE: A net of $215 million of surplus reserves were eligible to be carried forward from the week ended December 31, into the week ending January 7. 1/ Reflects $290 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes $34 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. On January 7, 1970, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,186 million, an increase of $156 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 Jan. 7, |Dec. 31, Jan. 8, 1970 1969 1969 A S S E TS Gold certificate account 10,036 11 * Cash (955) 111 + 1 92 Discounts and advances 164 - 19 16 Acceptances: Bought outright 64 Held under repurchase agreements Federal Agency obligations Held under repurchase agreements U. S. Government securities: Bought outright— Bills 21,803 463 +3,262 Certificates Notes 31,392 -- +2,686 Bonds 3,496 — -1,979 Total bought outright 1/ 2/ 56,691 - 463 +3,969 Held under repurchase agreements — — — Total U. S. Government securities 56,691 - 463 +3,969 Total loans and securities 56,919 - 482 +3,960 Cash items in process of collection 254) 11,321 + 799 +1,636 Bank premises 116 — + 4 Other assets 3/ 2,588 - 39 - 203 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS 209) 81,091 +_ 279 +5.316 Liy i t n ns Federal Reserve notes (955) 46,985 488 +2,819 Deposits: Member bank reserves 22,720 + 677 + 972 U. S. Treasurer—general account 1,057 - 255 + 295 Foreign 229 + 95 + 13 Other 4/ (1) 503 - 304 + 34 Total deposits (1) 24,509 + 213 +1, 314 Deferred availability cash items (2,253) 7,619 + 495 + 924 Other liabilities and accrued dividends 568 ^__ 13 +_ 169 TOTAL LIABILITIES (3,209) 79,681 + 207 +5,226 C A P I T AL A C C O U N TS Capital paid in 673 4 + 45 Surplus 669 — + 39 Other capital accounts 68 - 68 + 6 Contingent liability on acceptances purchased for foreign correspondents 145 34 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Reflects $290 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. ZJ Includes $34 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 gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JAMJAR? 7. 1970 (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 161 15 1,940 -208 16 days to 90 days 3 49 11,174 + 6 91 days to 1 year 22,446 -261 Over 1 year to 5 years 12,811 Over 5 years to 10 years 7,642 Over 10 years 678 — Total 164 64 56,691 -463 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 JANUARY 7, 1970 San New Phila Cleve Rich St. Minne- Kansas Total Boston Atlanta Chicago Dal ias Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 10,036 573 2,275 415 1,010 837 368 1,758 243 146 268 384 1,759 F. R. notes of other banks 955 90 188 51 80 82 126 69 33 23 44 37 132 Other cash 111 5 8 5 11 8 14 14 9 3 7 8 19 Discounts and advances 164 2 28 17 4 10 50 16 18 5 -t 3 Acceptances: Bought outright 64 — 64 — — — — — — — — — -- Held under repurchase agreements — — — -- — — — — — — — -- — Federal Agency obligations— Held under repurchase agreements — U. S. Government securities: Bought outright— Bills 21,803 1,106 5,310 1,172 1,690 1,631 1,216 3,624 803 438 851 938 3,024 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 Total bought outright 56,691 2,876 13,808 3,047 4,395 4,239 3,162 9,422 2 ,089 1 ,140 2,213 2 ,438 7,862 Held under repurchase agreements — — — — — — -- — — — — — -- Total U. S. Government securities 56,691 2,876 13,808 3,047 4,395 4,239 3,162 9,422 2 ,089 1 ,140 2,213 2 ,438 7,862 Total loans and securities 56,919 2,878 13,900 3,064 4,399 4,249 3,212 9,438 2 ,093 1 ,158 2,218 2 ,445 7,865 Cash items in process of collection 13,575 860 2,683 719 981 1,021 1,208 1,953 711 549 958 786 1,146 Bank premises 116 2 9 2 6 11 18 17 10 6 18 8 9 Other assets 1/ 2,588 118 812 124 206 142 146 353 82 54 98 137 316 TOTAL ASSETS 84,300 4,526 19,875 4,380 6,693 6,350 5,092 13,602 3 ,181 1 ,939 3,611 3 ,805 11,246 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 JANUARY 7, 1970 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 E S. Federal Reserve notes 47,940 2,741 11,198 2,738 3,928 4,308 2,603 8,411 1,791 817 1,765 1,734 5,906 Deposits: Member bank reserves 22,720 895 6,146 920 1,745 1,019 1,319 3,204 696 589 959 1,253 3,975 U. S. Treasurer—general account 1,057 57 184 72 88 89 57 100 99 61 67 89 94 Foreign 229 10 1/ 69 11 19 11 14 32 8 5 9 12 29 Other 504 1 2/439 4 2 11 3 9 2 3 9 4 17 Total deposits 24,510 963 6,838 1,007 1,854 1,130 1,393 3,345 805 658 1,044 1,358 4,115 Deferred availability cash items 9,872 727 1,322 534 743 797 975 1,543 517 421 721 612 960 Other liabilities and accnt ed dividends 568 28 142 29 43 42 31 94 20 12 22 24 81 TOTAL LIABILITIES 82,890 4,459 19,500 4,308 6,568 6,277 5,002 13,393 3,133 1,908 3,552 3,728 11,062 CAPITAL ACCOUNTS Capital paid in 673 32 181 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 68 3 17 4 5 5 4 11 z 1 3 3 10 TOTAL LIABILITIES AND 84,300 4,526 19,875 4,380 6,693 6,350 5,092 13,602 3,181 1,939 3,611 3,805 11,246 CAPITAL ACCOUNTS Contingent liability on ace. eptances purchased for forei- gn correspondents 145 7 3/ 37 8 13 8 9 21 5 3 6 8 20 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 50,306 2,866 11,757 2,824 4,188 4,449 2,785 8,760 1,869 848 1,842 1,859 6,259 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 48.162 2.717 11.400 2.620 3.750 3.955 2,850 7.950 1.780 835 1,875 1.930 6.500 Total collateral 51,384 2,897 11,900 2,920 4,260 4,500 2,850 8,950 1,935 862 1,875 1,935 6,500 1/ After deducting $160 million participations of other Federal Reserve Banks. 7/ Includes IMF gold deposit. 3/ After deducting $108 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis