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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release February 13, 1969 The average of daily figures of total reserves of member banks declined $194 million (net) to $27,215 million. Required reserves declined for the fourth consecutive week. These weekly reductions have primarily been associated with the decline in private deposits held at member banks during the month of January. Excess reserves also declined moderately from the level of the previous week. Float remained about unchanged at a relatively high average level during the week, influenced in part by the effect of bad weather conditions in the Northeastern part of the United States. Both currency in circulation and Treasury deposits with Federal Reserve Banks increased and absorbed over $500 million of reserves. About one-third of this reserve absorption, on weekly average, was offset through System Open Market operations, primarily through repurchase transactions. Member bank borrowings rose somewhat from the previous week to a level of $797 million, and borrowings exceeded excess reserves by $631 million, compared to the revised figure of $545 million for the previous week. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securitiesBought outright—System account Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements AcceptancesBought outright Held under repurchase agreements Discounts and advancesMember bank borrowings Other Float 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. accounts (net) Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held Required reserves Excess reserves Averagr.es o f daily figures Week ended Change from week ended Wednesday, Feb. 12, Feb. 14, Feb. 12, Feb • 5, 1969 1969 1968 1969 (In mill ions of dollars) 52,053 154 + 3,238 51,901 237 156 + 146 13 + 13 9 5 49 29 -. 15 + 1 29 + 4 48 38 797 + 50 + 413 1,107 + 55 + 292 + + + + 1,298 4,711 1,515 19 3,215 2,850 56,105 10,367 6,807 73,279 + 3,365 49,480 582 240 4 1,163 2,565 55,660 10,367 6,807 72,834 49,307 761 831 133 477 -1,009 50,499 22,335 4,880 27,215 27,049 166 -- 1 + 293 + 246 5 + 341 4 + 25 16 + 545 - 252 + + 58 194 - 158 36 + 15 401 + 2,152 765 133 508 -1,106 50,943 + 1,063 22,337 + 622 4,880 + 1,685 27,217 + 2,007 27,049 322 1 168 NOTE: A net of $94 million of surplus reserves were eligible to be carried forward from the week ended February 5, into the week ending February 12. On February 12, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,207 million, an increase of $262 million for the week. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL IIE SERVE BANKS (In millions of dollars) Change since Wednesday Feb. 12, Feb. 5, Feb. 14, 1968 1969 1969 A S S E T S --1,359 10,025 Gold certificate account 1/ H.4.1(a) *v Cash (1 ,154) Discounts and advances Acceptances: Bought outright Held under repurchase Federal Agency obligationsHeld 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 $fod securities Cash items in process of collection (1,856) Bank premises Other assets If TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,010) L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other 3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (1,154) (472) (472) (1,384) 47 - 190 +1,015 1 38 + 15 11 =i 2 + 5 17,720 100 +2,647 28,706 5,475 51,901 --- +1,754 - 655 +3,746 - 138 +3,608 +4,624 +1,288 + 1 + 633 +4,997 235 1,107 48 38 156 52,057 53,255 9,245 100 98 2 10 + 473 - + 113 2,859 75,732 -- + 56 _+_ 519 43,330 + 264 +2,839 22,337 1,163 - 275 +2,197 - 151 24 + 323 +2,345 - 450 + 85 +4,819 133 794 24,427 6,109 387 (3,010) + 74,253 + 749 + 14 + 313 + 801 500 8 _+_ - + 573 C A P I T A L A C C O U N T S Capital paid in 635 -+ 27 Surplus 630 -+ 32 Other capital accounts 214 54 + 119 Contingent liability on acceptances purchased for foreign correspondents 99 1 - 2 4 * Figures in parentheses are the eliminations made in the consolidating process, \J Includes amount of gold certificates previously included in "Redemption fund for F. R. notes." 2/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit, . MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 12, 1969 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities and Federal Ag$#cy obligations Discounts and advances Acceptances Holdings Weekly changes Within 15 days 1,103 46 +125 11,155 16 days to 90 days 4 40 - 10 8,540 91 days to 1 year 7,933 -115 Over 1 year to 5 years -12,880 Over 5 years to 10 years -10,943 Over 10 years 611 _....._— Total 1,107 86 52,062 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON WEDNESDAY, FEBRUARY 12, 1969 Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago MinneSt. Louis apolis Kansas City Dallas San Francisco (In millions of dollars) A S S E T S Gold certificate account 10,025 498 1,010 696 738 1,006 552 1,936 379 198 535 447 2,030 F. R. notes of other banks Other cash 1,154 235 98 13 235 24 66 8 102 27 128 20 132 27 70 27 43 25 21 5 34 17 69 13 156 29 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 V. S. Government securities Total loans and securities 1,107 68 309 121 50 24 391 25 21 37 41 17 17,720 910 4,582 899 1,355 1,276 937 2,914 622 344 653 721 2,507 28,706 5,475 51,901 156 52.057 53,255 1,475 281 2,666 1,457 278 2,194 419 1,518 290 3773T "277^5- 4,721 900 8,535 1,007 192 1,821 557 106 1,007" 1,058 202 1,913- 1,168 223 2,U2 4,062 775 7,344 2.666 2,734 7,422 1,415 13,419 156 13.575 13,975 Cash items in process of collection Bank premises Other assets 1/ 11,101 113 2,859 815 3 129 78,742 4,290 TOTAL ASSETS 48 38 48 38 TT634 3,968 2,634 2,637 3,968 4,089 3,737 3,787 2,745 2,769 8,535 8,926 1,821 1,846 1,007 1,028 1,913 1,950 2,112 2,153 7,344 7,361 1,638 10 900 610 2 139 719 5 226 982 10 152 1,107 18 160 1,726 17 398 637 8 92 428 3 59 752 19 109 651 9 138 1,036 9 357 17,792 4,158 5,906 6,085 4,765 13,100 3,030 1,742 3,416 3,480 10,978 1/ Includes assets denominated in foreign currencies and IMF gold deposited 2,067 394 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 12, 1969 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis 1,641 757 1,645 559 38 3 33 633 313 958 115 5 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 44,484 2,597 10,310 2,544 3,630 4,056 2,348 7,942 22,337 1,163 133 1,266 24,899 7,493 719 101 6 357 1,183 425 5,660 179 1/ 40 2/462 6,341 638 964 52 7 1 1,024 489 1,447 72 11 1,531 579 1,038 83 7 85 1,213 718 1,267 85 8 83 1,443 869 3,555 96 ,13 3 3,672 1,184 387 77,263 19 4,224 103 17,392 18 4,075 27 5,767 26 6,013 19 62 4,679 12,860 635 630 214 31 31 4 161 160 79 33 33 17 58 56 25 33 33 6 4,290 17^792 5 3/ 25 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS l8J^l Contingent liability on acceptances purchased for foreign correspondents |_ 99 j_ L_ 4,158 _J5J?06_ 6,085 5 5 9 765 85 4 54 r 908 ' 421 1,529 5,485 1,266 65 7 52_ 38 1,137 1,376 563 484 4,139 192 17 90 4,438 810 13 2,983 8 1,711 14 3,359 15 3,404 63 10,796 94 93 53 22 22 3 15 14 2 27 27 3 36 36 4 84 85 13 4,765 13,100 3,030 1,742 3,416 3,480 10,978 4 2 4 6 13 41 40 5 6 15 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 46,845 2,701 10,879 2,620 3,883 4,227 2,548 8,264 1,708 784 1,711 1,693 5,827 3,522 200 500 300 560 600 -- 1,000 180 27 -- 155 -- 45,090 2,531 10,600 2,500 3,649 2,650 7,650 1,670 785 1,775 1,630 6,250 11,100 2,800 3,400 3,960 4,249 2,650 8,650 1,850 812 1,775 1,785 6,250 48,612 2,731 1/ After deducting $ 93 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 2/ After deducting $ 74 million participations of other Federal Reserve Banks,
@FedFRASER