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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release February 6, 1969 H.4.1 The average of daily figures of total reserves of member banks declined $180 million to $27,386 million. Required reserves declined $202 million, reflecting the reduction in private deposits at member banks two weeks earlier, Excess reserves remained about unchanged while member bank borrowings declined. Only moderate changes occurred in factors affecting reserves in the latest statement week. Float declined seasonally and other F. R. accounts (net) increased, absorbing reserves. Reserves were provided through S stem Open Market operations, a decline in currency in circulation of about seasonal proportion, and reductions in Treasury deposits with Federal Reserve Banks. Member bank borrowings declined to a level of $747 million, near the average level of recent weeks. Borrowings exceeded excess reserves by $568 million, compared to the revised figure of $735 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 advances — Member 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 Forgien 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 figures Week ended Change from week ended Wednesday, Feb. 5, Feb. 7, Jan. 29 Feb. 5, 1969 1968 1969 1969 (In millions of dollars) 52,053 8 + + 69 8 + 3,128 406 52,001 58 13 49 50 747 - 145 506 1,154 2,487 55,345 10,367 6,806 72,518 - 56 - 123 -_ + 1,036 + 4,246 + 3 - 121 + 2,153 55,418 10,367 6,804 72,589 - 92 5 225 3 25 136 156 49,209 + 3,284 768 595 414 422 119 13 481 52 + 439 | -1,004 49,987 + 1,867 + 35 22,602 + 812 ! 4,822 + 653 1 27,424 + 1,465 + 1,661 1 27,207 49,061 766 490 129 502 - 993 49,954 22,564 4,822 27,386 27,207 179 + - + + - - 215 - 180 - 202 + 22 - 1,587 18 + 2,678 - 196 217 NOTE: A net of $76 million of surplus reserves were eligible to be carried forward from the week ended January 29, into the week ending February 5. On February 5, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,945 million, a decrease of $9 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Jan. 29, Feb. 7, Feb. 5, 1969 1968 1969 A S S E T S -1,359 10,025 Gold certificate account 1/ 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 2/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS 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 (1,203) 235 1,154 + + 7 228 + 181 918 14 49 17,820 28,706 5.475 52,001 58 324 +1,977 _ii 324 58 +1,754 - 655 +3,076 - 339 - 266 + 125 4J. +2.737 +3,639 +1,578 + 1 + 582 (3,285) 75,203 52 +4,260 (1,203) 43,066 75 +2,651 300 +1,362 - 605 (2,082) 52,0.51 53,265 8,762 36 1 113 2.803 22,602 414 119 481 (1) (1) 23,616 (2,081) 6,609 379 (3,285) 73,670 r - 84 5 + + + 8 381 283 21 29 + 44 + 772 + 688 + 57 +4,168 C A P I T A L A C C O U N T S Capital paid in 635 2 + 28 + 32 Surplus 630 + 32 Other capital accounts 268 52 Contingent liability on acceptances purchased for foreign correspondents 100 5 31 * 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. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 5, 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 Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total Discounts and advances 1,149 5 „ --_- 1,154 Ac ceptances 9 40 «--„ 49 Federal Agency obligations Holdings Weekly changes 11,030 +6,268 8,550 -8,285 - 246 8,048 -12,880 -10,943 --. 611 52,062 263 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON WEDNESDAY, FEBRUARY 5, 1969 Boston Total New York Phila- Clevedelphia land Richmond Atlanta Chicago St. MinneLouis apolis Kansas City Dallas San Francisco (In millions of dollars) A S S E T S Gold certificate account | 10,025 628 1,556 618 879 1,009 503 1,855 268 190 327 314 1,878 F. R. notes of other banks Other cash I 1,203 235 ' 106 12 256 23 79 7 113 28 117 19 134 28 80 28 41 25 22 5 27 17 66 14 162 29 1,154 95 497 33 18 22 17 153 102 16 76 21 104 49 -- 49 -- --- -- --- -- -- — -- --- -- 2,521 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 3 17,820 915 4,608 904 1,363 1,284 942 2,930 626 346 657 724 -- -- -- -- -- -- -- -- -- -- -- -- 28,706 5,475 52,001 58 52,059 53,265 1 ,475 281 2,671 1,457 278 2,639 2,194 419 3,976 2,067 394 3,745 1 ,518 290 2 ,750 4,721 900 8,551 1 ,007 192 1 ,825 557 106 1 ,009 1,058 202 1,917 1,168 223 2,115 -- -- -- -- -- -- -- -_ 2 ,671 2 ,766 7,422 1,415 13,445 58 13,503 14,052 2,639 2,672 3,976 3,994 3,745 3,767 2 ,750 2 ,767 8,551 8,704 1 ,825 1 ,927 673 3 126 2,048 10 886 599 2 135 773 5 221 894 10 147 987 18 156 1,699 17 395 ,314 18,831 4,112 6,013 5,963 4 ,593 12,778 Cash items in process of collection 10,844 Bank premises 113 Other assets 1/ j 2,803 TOTAL ASSETS -- -- 78,488 ! -- L_ 4 1 1/ Includes assets denominated in foreign currencies and IMF gold deposited -J.s009___ U 9 J J _ 4,062 775 7,358 1 ,025 1,993 2,115 2,136 7,358 7,462 547 8 90 391 3 58 731 19 106 592 9 135 910 9 348 2 ,906 1 ,694 3,220 3,266 10,798 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 5, 1969 Total 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 accrtled dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for forej-gn correspondents Boston New York Phila- Clevedelphia land Richmond Atlanta Chi.cago (In millions of dollars ) 4,046 2, 348 7. 895 3,610 44 ,269 2, 579 10,246 2,531 22 ,602 414 119 482 23 ,617 8 ,690 1,000 1 5 980 1 6 9 996 487 1 563 1 10 1 ,006 634 6,066 244 1/ 36 2/420 6,766 1,331 379 76 ,955 19 4 ,238 101 18,444 635 630 268 31 31 14 •78 ,488 100 St. MinneLotiis apolis Kansas City San Dsillas Francisco 1,636 752 1,632 1 ,521 5 ,473 1 160 1 6 3 1 170 477 4. 111 164 15 19 4 ,309 756 1, 286 3 ,132 790 578 1 ,574 664 1,024 1 6 9 1,040 764 7 2 1 =295 835 16 10 3 158 1 ,431 4 6 800 404 3 2 583 318 912 1 5 2 920 589 18 4,032 29 5 ,877 28 5,878 20 4.498 62 12 ,546 13 2,853 7 1 ,660 15 3,156 15 3 ,183 52 10 ,590 161 160 66 33 33 14 58 56 22 33 33 19 41 40 14 94 93 45 22 22 9 15 14 5 27 27 10 36 36 11 84 85 39 4 ,314 18,831 4,112 6 ,013 5,963 4 ,593 12 ,778 2,906 1,694 3,220 3 ,266 10 ,798 5 3_/ 25 5 9 5 6 15 4 2 4 6 14 5,826 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 2,731 10,870 2,620 3,882 4,216 2,535 8,253 1,702 784 1,711 1,686 500 300 560 585 -- 1,000 180 27 -- 155 10,600 2,500 3,400 3,649 2,650 7,650 1,670 785 1,775 1,630 6,250 11,100 2,800 3,960 4,234 2,650 8,650 1,850 812 1,775 1,785 6,250 1/ After deducting $ 83 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. 3/ After deducting $ 75 million participations of other Federal Reserve Banks, * Less than $500,000,
@FedFRASER