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*&£££& FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release February 20, 1969 H.4.1 The average of daily figures of total reserves of member banks increased $721 million (net) to $23,066 million. Required reserves rose reflecting the increase in member bank deposits in early February. Excess reserves also increased to a level of $322 million, somewhat above the average level of recent weeks. It is expected that a sizable portion of this week's excess reserves will be eligible to be carried forward into the next reserve period. In the latest statement week, currency in circulation increased seasonally, absorbing reserves; Treasury deposits with Federal Reserve Banks declined, providing $162 million of reserves; and float was about unchanged from the relatively high level of recent weeks. System Open Market operations provided about $400 million of reserves, on weekly average, primarily through repurchase transactions. In addition, some U. S. Government securities were bought outright. Member bank borrowings rose sharply to a level of $1,043 million, and borrowings exceeded excess reserves by $721 million, compared to the revised figure of $621 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 obligationsHeld 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 Averages of daily ifigures Week ended Change from week ended Wednesday, Feb. 19, • Feb. 12, Feb. 21, 7eb. 19, 1969 1968 1969 1969 dollars) i millions of (I» 52,108 405 + 55 + 251 + 3,665 + 405 52,167 139 28 21 28 + 49 94 + 65 + 13 94 51 105 1,043 + 246 + 638 460 2,593 56,319 10,367 6,809 73,495 + 18 + 649 2,294 + 859 35,237~ + 5,676 10,367 - 1,515 6,812 + 17 + 4,178 j 72,416 49,377 764 669 133 500 -1,014 50,429 23,066 4,489 27,555 27,233 322 15 •- -- + 2 + 651 + 70 + 3 - 162 __ + - 23 5 70 + 721 - 391 + 330 + 184 + 146 +2,023 j 49,348 763 449 119 474 - 779 50,374 + 2,155 j + 125 i +2,280 + 2,337 57 1 22,042 4,489 26,531 27,233 - 702 + 3,496 569 382 7 + 45 j 561 NOTE: A net of $92 million of surplus reserves were eligible to be carried forward from the week ended February 12, into the week ending February 19. On February 19, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,360 million, an increase of $153 million for the week. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Feb. 19, Feb. 12, Feb. 21, 1969 1968 1969 A S S E T S -1,359 10,025 Gold certificate account 1/ H.4.1(a) Cash Discounts and Advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligationsHeld under repurchase agreements U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreements Total IL S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (1,013) 3 647 - 201 358 3 67 + 7 105 21 16 <- 21 17,986 -J- 266 -J-2,580 29,847 4,334 52,167 -:-l,141 -l ,141 139 17 + 249 - 312 + 27 384 666 +2,895 -1,796 +3,679 + 139 +3,818 +3,579 +1,765 + 1 + 497 +4,282 135 +2,787 295 714 + - 238 460 51 105 (2,455) 52,306 52,943 9,272 (3,468) 2,475 75,066 (1,013) 43,195 4- + 266 113 -- k I A £ Ik I 1 Ik 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 22,042 (3) (3) 449 119 474 (2,452) 23,084 6,978 (3,468) 73,653 396 - 953 637 14 11 - 320 -1,343 ;- 869 + 9 600 + 24 + 329 +1,000 + 97 f-4,213 C A P I T A L A C C O U N T S 2 637 + 28 Capital paid in -+ 32 630 Surplus 68 + 9 146 Other capital accounts Contingent liability on acceptances purchased for foreign correspondents 98 1 25 * Figures in parentheses are the eliminations made in the consolidating process. 1/ 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. 2/„ Includes IMF_goId deposit. ..... MATURITY DISTRIBUTION"OF LOANS'7M^.S^yRITIES 5 FEBRUARY 19, 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 Acceptances Holdings Weekly changes Within 15 days 2,941 -8,214 456 116 16 days to 90 days 4 40 8,396 - 144 91 days to 1 year 8,077 + 144 Over 1 year to 5 years 18,975 -1-6,095 Over 5 years to 10 years 13,327 +2,384 Over 10 years 611 Total 265 52,327 156 460 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 19, 1969 Total Boston Phila- Clevedelphia land New York Richmond Atlanta Chicago St. iMinneLouis apolis Kansas City I San Dallas I FranI Cisco (In millions of dollars) A S S E T S Gold certificate account F. R. notes of other banks Other 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 17 10,025 631 1,291 579 840 1,066 502 2,031 312 155 467 391 1,760 1,013 238 80 12 231 23 70 8 97 29 107 21 104 28 60 25 34 25 16 6 22 17 51 13 141 31 460 68 34 6 12 21 56 89 13 19 20 12 110 51 --- .51 -- -- -- -- -- --- 912 1,375 1,295 -2,149 951 350 663 732 -- -1,100 -1,214 105 i 21 17,986 -29,847 4,334 52,167 \ 139 52.306 152,943 21 924 2,680 4,650 __ 7,717 1.121 13,488 2.680 2,748 13,627 13,838 -1,533 223 I 139 -1,515 331 312 229 713 3,988 -3,988 4,000 3,756 -3,756 3,777 2,759 -2,759 2,815 8,579 -8,579 8,668 869 5 196 937 10 125 981 18 140 1,858 6,036 6,043 4,588 2,475 10 803 628 2 118 78,534 4,309 18,493 4,058 Includes assets denominated in foreign currencies and IMF gold deposited. -1,579 220 2,297 113 -2,282 2,958 -4,908 2,647 -2,647 2,653 727 3 108 11,727 -- 105" 631 -1,048 152 579 84 1,831 1,013 -- _ . -,013 1,831 1,844 1,032 17 334 597 8 79 385 3 51 12,993 2,899 1 ,648 160 176 2,545 -4,223 613 2,122 7,381 1,923 2,122 1,943 ~2,134 77T8T 7759T 1,923 778 19 95 3,341 640 9 123 3,361 1,030 9 303 10,765 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 19, 1969 H.4.1(c) Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. MinneLouis apolis | San Kansas Dallas jFranCity jcisco (In millions of dollars) L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Trea8urer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accnled dividends TOTAL LIABILITIES 44,208 2,593 10,268 2,525 3,608 4,033 2,331 7,888 1,632 754 1,630 1,521 5,425 22,042 449 119 477 23,087 9,430 705 930 1 6 1 938 503 1,528 1 10 1,336 1 7 1 1,345 803 3,276 * 16 3 3,295 1,535 4 1 746 459 529 1 3 1 534 321 994 1,539 732 1,095 1 6 9 1,111 796 741 5 1 711 917 5,483 441 1/ 36 2/413 6,373 1,381 5 3 1,002 635 1,234 I 6 1 1,242 504 4,191 2 15 43 4,251 844 396 77,121 19 4,240 112 18,134 18 3,984 30 5,909 27 5,967 20 4,499 62 12,780 13 2,850 8 1,617 15 3,282 16 3,283 56 10,576 31 31 33 33 8 59 56 12 33 33 10 41 40 8 95 93 25 22 22 5 15 14 2 27 27 5 36 36 6 84 85 20 6.036 6.043 4,588 12,993 2,899 1,648 3,341 3.361 10,765 15 3 2 4 6 13 5,771 * CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 7 161 160 38 178.534 i 4.309 18.493 4.058 Contingent liability on ace:eptances purchased for fore]Lgn correspondents I 25 5 ! 637 630 i 146 1 S.8__ 5_ 5_ 9_ 6_ * FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 2,678 10,807 2,600 3,866 4,202 2,524 8,201 1,708 777 1,708 1,680 200 500 300 560 600 -- 1,000 180 27 -- 155 2,531 2,731 10,600 11,100 2,500 2,800 3,400 3,960 3,649 4,249 2,650 2,650 7,650 8,650 1,670 1,850 785 812 1,775 1,775 1,630 1,785 1/ After deducting $ 83 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $ 73 million participations of other Federal Reserve Banks. * 6,250 6,250 Less than $500,000.
@FedFRASER