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FEDERAL RESERVE Factors Afftctiig I n k 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. Partially offsetting these reserve drains was an increase in float of about seasonal proportions. 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. Member bank reserves, Reserve Bank credit and related items Reserve Bank credit: U. S. Government securities-Bought outright—System account Held under repurchase agreements Special Certificates Federal Agency obligations-Held under repurchase agreements AcceptancesBought outright Held under repurchase agreements Discounts and advances-Member bank borrowings Other Float Other F. R. assets Total Reserve Bank credit Gold stock Treasury currency outstanding Currency in circulation Treasury cash holdings Treasury deposits with F. F. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. liabilities and capital Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held Required reserves Excess reserves Averasps of daily figures Week ended Change from week ended Wednesday, Dec. 10, Dec. 11, Dec. 10, Dec. 3, 1969 1968 1969 1969 (Iti millions of dollars) 1/ 57,483 + 162 + — 172 3 + + -- - 162 13 5,028 57,153 — -- 19 + 10 + 19 — 56 11 + _ + 3 11 58 + 6 6 1,199 + 6 + 765 666 2,617 2,035 63,582 10,367 6,836 80,785 53,287 + 106 27 335 _ - 10 866 2,566 2,082 62,525 10,367 6,839 79,731 53,555 + + + + + 652 - 1,183 + + 138 427 - 2,318 58,004 + 22,780 4,928 27,708 27,492 - + 216 + + - + 5,092 -- — 13 349 228 12 161 15 28 80 443 + 27 96 94 2 52 50 + + + + 1,055 + 164 + 5,119 + 2,904 103 + 992 95 11 + 377 + 4,063 192 1,247 1,083 -- 657 1,116 104 416 2,316 58,164 21,567 4,928 26,495 27,492 - 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 — pledged with Federal Reserve Banks. fully secured by U.S. Government securities 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. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Dec. 11, Dec. 10, Dec. 3, 1968 1969 1969 A S S E T S Gold certificate account Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations Held under repurchase agreements U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 1/ TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer-.-general account Foreign Other 2/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES + 10,036 * (595) 115 666 3 148 58 5 8 10 - 115 + 395 20 503 22,265 +5,033 ••« 1/ 31,392 3,496 57,153 57,153 57,877 (2,276) 9,365 114 U968_ (2,871) 79,475 - — 503 156 659 - 830 - 707 + 1 + 38. -1,501 ••«• +2,686 «1,979 +5,740 +5T74"0 +6,133 + 259 - 936 +5,351 (595) 47,157 + 288 +2,668 21,567 1,116 - 977 151 104 9 +1,077 +1,058 - 108 (6) 416 (6) 23,203 (2,270) 6,799 610 (2,871) 77,769 49 -1,186 - 633 40 -1,571 +2,017 + 306 + 198 +5,189 z lp_ C A P I T A L A C C O U N T S Capital paid in 667 + 1 + 42 32 Surplus 630 + 88 Other capital accounts 409 + 69 + Contingent liability on acceptances purchased + 33 for foreign correspondents 145 * 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 Discounts and Federal Agency obiigations advances Acceptances Holdings Weekly changes 1,392 659 Within 15 days — * * * — -i,uii * 10,730 + 458 7 50 16 days to 90 days •»•» -23,900 - 126 91 days to 1 year — — — 12,811 Over 1 year to 5 years — __ 7,642 s Over 5 years to 10 years --_ -•.678 Over 10 years Total £66T 58 57,153 - 679 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 10, 1969 Total Boston New York Philadelphia Cleveland Rich mond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) A S S E T S 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 Other cash 595 115 52 4 174 9 22 5 56 10 40 7 55 17 26 13 19 10 13 4 32 9 22 9 84 18 Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations-Held under repurchase agreements U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities 666 87 79 18 2 60 99 92 11 84 49 41 44 58 -— 58 -- -- --- -— — — — -- — -- — -- — -- -— --- --- -- <— — — -- — — — -- -- -- — — 22,265 1,129 5,550 -- •- -- ... 31,392 3,496 57,153 1,593 177 2,899 7,826 872 14,248 1,624 181 2,956 -- — — 1,151 -- 1,747 1,672 1,193 3,660 797 420 870 944 -- -- -- -- -- -- -- -- -- 2,463 2,357 262 274 4,484 4,291 1,681 187 3,061 5,160 575 9,395 1,122 125 2,044 592 1 ,227 66 137 ,078 ~2 ,234 1 ,331 148 ~~2 ,423 4,416 492 8,040 — 2,899 2,986 14,248 14,385 2,956 2,974 Cash items in process of collection 11,641 Bank premises 114 Other assets _1/ 1,968 691 2 85 2,180 9 690 613 2 95 790 5 147 82,346 4,499 19,563 4,312 6,561 \l Includes assets denominated in foreign currencies and IMF gold deposited. — — — ~T — — — — ,234 2 ,283 ~2 ,423 2 ,464 8,040 8,084 452 5 40 763 18 72 635 8 93 1,026 9 229 l,819 3 ,439 3 ,632 10,552 3,061 3,160 9,395 9,487 2,044 2,055 ~~T,078 l,162 918 11 99 1,061 18 104 1,890 17 255 622 10 59 6,359 5,032 13,436 3,142 4,484 4,291 4,486 4,351 57,153 57,877 TOTAL ASSETS — 3,132 T H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 10, 1969 New Total Boston York Phila- Clevedelphia land Richmond St. Atlanta Chicago Louis Minneapolis Kansas City San Dallas Francisco (In millions of dollars) L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for foreign corre s pondent s 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 21,567 1,116 966 66 5 6,038 876 76 5 2 959 495 1,589 1,050 1,317 3,048 106 7 3 98 16 4 129 14 15 1,163 1,433 3,475 769 866 3,166 1,516 1,299 678 887 87 5 3 982 598 60 6 1 1,736 524 61 2 1 588 371 3,317 95 5 13 723 66 4 1 794 482 1,232 137 9 1 493 860 104 422 135 23,209 9,069 1,037 615 1/ 26 2/378 6,577 1,326 610 30 152 31 48 44 32 100 22 12 24 26 89 80,640 4,416 19,115 4,225 6,413 6,263 4,927 13,179 3,084 1,782 3,369 3,542 10,325 667 630 409 32 31 20 176 160 112 34 33 20 60 56 32 34 33 29 43 40 22 98 93 66 23 22 13 15 14 8 28 27 15 37 36 17 87 85 55 82,346 4^499 19156_3_ 4,312 6,561 6,359 5,032 13,436 3,142 1,819 3,439 3,632 10,522 145 7 8 13 8 9 21 5 3 6 8 20 1,838 1,829 6,202 * 3/ 37 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 49,757 2,831 11,592 2,810 4,155 4,392 3,287 180 500 300 510 610 47,752 51,039 2,667 2,847 11,200 11,700 2,620 2,920 3,750 4,260 3,855 4,465 1/ After deducting $ 78 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. 3/ After deducting $ 108 million participations of other Federal Reserve Banks. 2,735 2,850 2,850 8,664 1,869 840 1,000 155 27 7,950 8,950 1,780 1,935 825 * 852 5 1,875 1,875 Less than $500,000. 1,880 1,885 6,500 6,500
@FedFRASER