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.•'*q£Cow.''.. FEDERAL '•?**£&?. RESERVE Factors Afftctiag I n k ttsarvts aid Condition Stnttatit tf F.I. tanks H.4.1 For immediate release December 4, 1969 The average of daily figures of total reserves of member banks increased $108 million in the latest statement week to $27,655 million. Required reserves increased seasonally, while excess reserves and member bank borrowings from Federal Reserve Banks were about unchanged from the previous week. A seasonal increase in currency in circulation and a seasonal decline in float were the major factors absorbing reserves in the latest week. System Open Market operations offset these reserve drains by providing about $600 million of reserves, on a weekly average basis. Most of these reserves were supplied through the outright purchase of U.S. Government securities; however, near the end of the period some reserves were also supplied through repurchase agreements. Member bank borrowings exceeded excess reserves by $1,096 million, compared to the revised figure of $1,124 million for the previous week. Member bank reserves, Reserve Bank credit, and related items Averages of daily figures Week ended Change from weeik ended Wednesday, December 3, November 26, December 4, December 3, 1969 1969 1969 1968 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 1/ 159 + + 402 159 9 + 9 + 8 20 50 5 + + 2 5 _ + 9 5 53 8 14 + 662 814 + 181 - 894 + 4,143 — + 16 + 4,158 + 2,982 - 112 + 439 - 102 + 7 + 354 2,596 2,043 63,346 10,367 6,829 80,542 53,253 57,311 1,193 2,457 2,008 63,192 10,367 6,823 80,382 53,059 664 1,022 123 455 2,238 57,561 22,821 4,834 27,655 27,558 97 _ + + + + + + + + + + + + + + 222 18 323 — 4 328 372 3 4 1 19 100 499 172 280 108 94 14 + 4,059 + 131 + 3,568 + 590 + 206 + 796 + 1,178 - 382 1 57,656 156 659 1,267 113 465 2,286 58,043 22,500 4,834 27,334 27,558 - 224 NOTE: A net of $90 million of surplus reserves were eligible to be carried forward from the week ended November 26, into the week ending December 3. On December 3, 1969, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,139 million, a decrease of $450 million for the week. 17 Includes $12 million securities loaned Reserve Banks. Digitizedpledged for FRASERwith Federal fully secured by U.S. Government securities H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Dec. 3, Nov. 26," Dec. 4, 1968 1969 1969 ASSETS Gold certificate account (564) Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations Held under repurchase agreements U. S. Government securities: Bought outrightBills Certificates Notes Bonds 1/ Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities (2,590) Cash items in process of collection Bank premises Other assets 2J TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,154) 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 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 10 10,036 (564) (2) (2) (2,588) (3,154) 118 814 - 7 332 + 124 693 53 8 + + 3 8 + 8 20 f 20 20 22,768 31,392 3,496 57,656 156 -5773T2 3ST7IT7 10,028 113 1,930 80,932 + 7 948 44,303 -— 948 + + 156 -+T7H54 + "8133 + 704 — 24 + +1,524 +2,686 -1,979 +5,010 + 156 +5,166 +5,880 + 754 1 - 878 +5,641 46,869 + 218 +2,714 22,500 1,267 113 465 24,345 7,432 650 79,296 + 426 + 414 +1,293 + 618 - 112 + 19 +1,818 + 729 + 238 +5,499 + 4 38 + + 882 + 305 51 +1 ,456 + A C C O U N T S C A P I T A L «• • • + 41 666 Capital paid in — + 32 630 Surplus + 69 340 68 Other capital accounts Contingent liability on acceptances purchased for foreign correspondents 145 1 + 3 2 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $12 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 3, 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 advances Holdings Acceptances Weekly changes 5TT7b * 2,40? Within 15 days 10,272 739 40 + 16 days to 90 days -24,026 + 309 91 days to 1 year — — 12,811 Over 1 year to 5 years -« — 7,642 Over 5 years to 10 years -678 -Over 10 years +1,124 57,832 61 814 Total H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 33 1969 Total A S S E T S Gold certificate account Boston New York Philadelphia Cleve- Rich Atlanta Chicago land mond (In millions of dollars) St. Louis Minneapc>lis Kansas City Dallas San Francisco 10,036 675 1,979 673 927 900 625 2,080 292 153 259 398 1,075 F. R. notes of other banks Other cash 564 118 55 3 157 10 20 5 39 10 39 9 56 17 29 12 18 13 15 3 37 9 22 9 77 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 814 87 203 23 -_ 83 84 125 12 51 21 25 99 53 8 --- 53 8 --- --- --- --- --- -__ -- -- --- 20 22,768 — — — __ - 20 1,155 --- 5,676 1,177 1,787 1,709 1,220 3,742 814 429 890 966 3,203 -- -- -- -- -- -- -- _- -- -_ -- 1,624 181 2,982 — 2,982 3,005 2,463 274 4,524 2,357 262 4,328 1,681 187 3,088 5,160 575 9,477 1 ,122 125 2 ,061 592 66 ,087 1,227 137 2 ,254 1 ,331 148 ,445 4,416 492 8,111 -- __ -- -- -- 4,524 4,525 4,328 4,411 3,088 3,172 9,477 9,602 2_,061 2 ,073 1 ,087 1 ,138 2 ,254 2 ,275 2 ,445 2 ,470 8,111 8,210 31,392 3,496 57,656 156 57,812 58,707 2,925 3,012 7,826 872 14,374 156 14,530 14,814 Cash items in process of collection 12,618 Bank premises 113 Other assets 1/ 1,930 769 2 82 2,168 9 647 689 2 93 904 5 171 1,027 11 96 1,123 18 104 2,105 17 250 697 9 59 497 5 38 854 18 70 685 8 93 1,100 9 227 4,598 19,784 4,487 6,581 6,493 5,115 14,095 3 ,161 1 ,849 3 ,522 3 ,685 10,716 TOTAL ASSETS 84,086 1,593 177 2,925 — -- \J Includes assets denominated in foreign currencies and IMF gold deposited. — ~T — T H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 3, 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 fore:-gn correspondents 47,433 2,713 11,014 2,727 3,907 4,260 2,553 8,348 1,763 805 1,756 1,708 5,879 22,500 1,267 113 467 24,347 10,020 1,002 72 5 1,079 696 6,129 178 1/ 35 2/420 6,762 1,395 974 106 5 1 1,086 559 1,576 113 9 1 1,699 784 1,061 147 5 12 1,225 872 1,398 71 7 3 1,479 946 3,544 106 16 4 3,670 1,730 702 99 4 1 806 514 533 39 2 2 576 420 892 120 5 4 1,021 652 1,236 81 6 2 1,325 539 3,453 135 14 17 3,619 913 650 82,450 31 4,519 183 19,354 31 4,403 48 6,438 46 6,403 35 5,013 101 13,849 22 3,105 13 1,814 26 3,455 26 3,598 88 10,499 666 630 340 31 31 17 176 160 94 34 33 17 60 56 27 34 33 23 43 40 19 98 93 55 23 22 11 15 14 6 28 27 12 37 36 14 87 85 45 84,086 4,598 19,784 4,487 6,581 6,493 5,115 14,095 3,161 1,849 3,522 3,685 10,716 145 7 3/37 8 13 8 9 21 5 3 6 8 20 1,825 1,826 6,150 * FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 49,443 2,808 11,563 2,796 4,126 4,368 3,287 180 500 300 510 610 47,622 2,667 11,200 2,620 3,750 3,855 50,909 2,847 11,700 2,920 4,260 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. 2,689 8,611 1,851 830 1,000 155 27 2,750 7,950 1,750 825 1,875 1,880 6,500 2,750 8,950 1,905 852 1,875 1,885 6,500 — * — Less than $500,000. 5
@FedFRASER