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2IS&V. FEDERAL RESERVE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release December 26, 1969 The average of daily figures of total reserves of member banks declined $169 million in the latest statement week to $27,813 million. Required reserves declined while excess reserves and member bank borrowings from Federal Reserve Banks increased moderately. Increases in currency in circulation and Tre asury deposits with Federal Reserve Banks were the major factors absorbing reserve s in the latest period, Offsetting these reserve drains was an increase in fl oat about seasonal in proportion. System Open Market operations absorbed re serves, on a weekly average basis, although some repurchase agreement transactions were made near the end of the week which provided reserves. Member bank borrowi rigs from Federal Reserve Banks averaged $1.1 billion, near the average level of recent weeks. Borrowings exceeded excess reserves by $896 million, compared to the revised figure of $987 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 Federal- Agency obligations-Held under repurchase agreements Acceptances-Bought 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. R. 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 NOTE: U Averages of daily figures Week ended Change from week ended Wednesday, December December December December 24, 1969 24, 1969 25, 1968 17, 1969 y 57,173 - 106 +5,005 57,160 51 81 9 359 13 11 T 9 90 4 1 59 42 235 721 60 6 + 1 12 + - 1,094 + 51 + 3,497 2,248 64,141 10,367 6,846* 81,354* 53,757* 651* 1,246* 143 449 2,133 58,379* 22,974 4,839 ir^n 27,615 198 + 484 + 114 + 439 -- + 5 + 444 + 232 5 + 271 6 + 12 + 7 + 511 - 68 101 ~m 311 + 142 - 238 - 717 +4,287 -+ 34 +4,320 +2,954 - 103 + 785 74 + 4 + 321 +3,887 3,604 2,264 64,299 10,367 6,846* 81,512* 54,026* 660* 1,057* + + 433 148 22,916 4,839 r~m + 803 T7T75T - 222 168 522 2,163 58,596* 27,615 I 140 A net of $92 million of surplus reserves were eligible to be carried forward from the week ended December 17, into the week enaing December 24. Includes $22 million securities loaned--fully secured by U.S. Government securities pledged with Federal Reserve Banks. On December 24, 1969, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,299 million a decrease of $493 million fox the week. * - Preliminary. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Dec. 25, Dec. 24, Dec. 17, 1968 1969 1969 A S S E T S 10 10,036 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 iank premises Other assets 2/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS k I L 1 IL I T IE £ Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other V Total .deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (679) 115721 + + 4 39 93 + 389 + + 59 42 1 1 90 33 77 22,272 69 +4,071 31,392 3,496 1/ 57,160 359 57,519 58,431 (2,321) 11,175 115 2,149 (3,000)**82,021 — — 69 + 61 8 + 62 - 406 -+ 7 - 333 +2,686 -1,979 +4,778 + 148 +4,926 +5,412 +1,516 + 2 - 714 +6.133 (679) 47,624 + +2,785 22,916 ** 1,057 168 (6) 522 (6)**24,663 (2,315) 7,571 5^6 (3,000)**80,454 _ + 383 196 + 40 + + 688 889 58 + _Z2 ± 22 75 - 648 - _JLS 404 +1,551 +1,469 337 + 193 +5,998 A C C O U N T S C A P I T A L Capital paid in 669 2 + Surplus 630 — + Other capital accounts 268 69 + Contingent liability on acceptances purchased for foreign correpondents 147 -+ * Figures in parentheses are the eliminations made in the consolidating process. 17 Includes $22 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 24, 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 obligations Weekly changes advances Ac ceptances . Holdings Within 15 <iays^: 52 .- 717. 2,943 +821 16 days to 90 days 4 49 10,566 -401 91 days to 1 year --\ 22,969 -395 Over 1 year to 5 years « 12,811 Over 5 years to 10 years irs -. 7,642 Over 10 years — — 678 , Total 721 101 57,609 f* + 25 ^PRELIMINARY. 4 16 42 32 61 35 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 24, 1969 Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City (In millions of dollars) A S S E T S Gold certificate account San Dallas Francisco 10,036 638 813 696 787 939 881 2,189 384 258 349 499 1,603 F. R. notes of other banks Other cash 679 115 63 5 194 9 34 5 53 10 52 7 66 15 34 15 24 10 16 3 36 7 25 9 82 20 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— Other Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities 721 , 88 115 8 122 47 64 75 29 6 21 24 122 59 i 42 -- 59 42 --- — -- — — -— --- --- --- --- --- --- 1,151 1,748 1,672 1,193 3,661 796 420 871 945 3,133 -— 1,624 2,463 274 181 2,956 4,485 — -2,956 4,485 2,964 4,607 -2,357 262 4,291 -4,291 4,338 -1,681 187 3,061 -3.061 3,125 — 5,160 575 9,396 — 9,396 9,471 -1,122 125 2,043 -2,043 2,072 -592 66 1,078 -1,078 1,084 Cash items in process of collection Bank premises Other assets 1/ TOTAL ASSETS 1/ t 90 90 22,272 1,130 5,552 -31,392 3,496 57,160 359 57,519 58,431 -1,593 177 2,900 — 2,900 2,988 -7,826 872 14,250 359 14,609 14,915 13,496 115 2,149 816 2 99 2,568 9 707 699 2 100 922 5 169 1,137 11 110 1,188 18 119 2,272 17 288 658 10 67 460 6 44 915 18 80 799 8 104 1,062 9 262 85,021 4,611 19,215 4,500 6,553 6,594 5,412 14,286 3,225 1,871 3.,661 3 ,892 11,201 Includes assets denominated in foreign currencies and IMF gold deposited, --. 1 ,227 1,331 137 148 ~2 ,235 ~2 ,424 --.235 ~2 ,424 2 ,256 2 ,448 T 4,416 492 8,041 8.041 8,163 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 24, 1969 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis Kansas City San Dallas Francisco (In millions of dollars) Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accriled 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 correspondents 48,303 2,756 11,265 2,762 3,961 4,348 2,638 8,493 1,801 820 1,772 1,745 5,942 22,916 1,057 168 528 24,669 9,886 978 70 7 2 1,057 694 5,299 75 1/ 56 2/482 5,912 1,465 955 103 8 4 1,070 558 1,606 59 13 1 1,679 729 1,131 64 8 7 1,210 909 1,498 178 10 2 1,688 957 3,804 43 22 3 3,872 1,592 752 102 5 1 860 489 609 49 4 3 665 340 969 140 6 4 1,119 683 1,373 76 9 2 1,460 578 3,942 98 20 17 4,077 892 596 83,454 29 4,536 161 18,803 30 4,420 46 6,415 43 6,510 31 5,314 95 14,052 21 3,1/1 12 1,837 23 J,^y/ 25 J,8U8 80 iu,yyi 669 630 268 32 31 12 177 160 75 34 33 13 60 56 22 34 33 17 43 40 15 99 93 42 23 22 9 15 14 5 28 27 9 37 36 11 87 85 38 85,021 4,611 19,215 4,500 6,553 6,594 5,412 14,286 3,225 1,871 3,661 3,892 11,201 147 7 3/ 37 8 13 8 10 22 5 3 6 8 20 1,847 1,854 6,239 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral . 1/ 7/ V 50,264 2,869 11,718 2,838 4,180 4,450 3,222 180 500 300 510 545 48.102 2,717 11,400 2,620 3,750 3,955 51,324 2,897 11,900 2,920 4,260 4,500 After deducting $112 million participations of other Federal Reserve Banks, Includes IMF gold deposit. After deducting $110 million participations of other Federal Reserve Banks. 8,778 1,8/3 839 1,000 155 27 2,850 7,950 1,780 825 1,875 1,880 6,500 2,850 8,950 1,935 852 1,875 1,885 6,500 2,779 5
@FedFRASER