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FEDERAL RESERVE factors Affecting Bonk Reserves and Condition Statement of F.R. Banks For immediate release January 2, 1970 H.4.1 The average of daily figures of total reserves of member banks increased $693 million in the latest statement week to $28,548 million. Required reserves increased reflecting the usual seasonal rise in private demand deposits in midDecember. Excess reserves also increased while member bank borrowings from Federal Reserve Banks were about unchanged. A seasonal rise in currency in circulation and an increase in Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves in the latest week. A contra-seasonal rise in float, due in part to snow storms in the Northeastern part of the country, and an increase in other Federal Reserve assets more than offset these reserve drains. In addition, System Open Market operations provided nearly $300 million of reserves (net), on a weekly average basis. All of the reserves were added through repurchase transactions; outright holdings of U.S. Government securities declined moderately. Member bank borrowings from Federal Reserve Banks remained near the $1.1 billion average of recent weeks and exceeded excess reserves by $717 million, compared to the revised figure of $854 million for the previous week. Averages of daily figures Week ended Change from week ended Wednesday, January 1, December 3 Dec. 24, Dec. 31, 1969 1969 1969 1969 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 Other F. R. assets Total Reserve Bank credit Gold stock Treasury currency outstanding Currency in circulation Treasury cash holdings Treasury deposits with F, Foreign deposits with F. Other deposits with F. R. Other F. R. liabilities i R. Banks .. Banks Banks d capital Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held Required reserves Excess reserves NOTE: 57,154 19 + 4,410 1/ 57,154 66 + 215 + 40 71 -L 58 + 60 59 39 + 1 33 + + 4 11 64 216 183 93 487 3,339 2,743 63,483 10,367 6,848 80,698 53,885 10 1,104 3,854 2,480 65,028 10,367 6,848 82,243 53,975 + + 659 + 1,405 + 163 517 + 2,153 58,872 23,371 5,177 28,548 28,161 387 + + + + 315 232 845 2 + + 847 218 8 159 20 68 20 493 355 338 + + + 693 546 147 + + + + - + 3 ,916 + 39 + 3 ,955 + 3 ,019 - + - + 81 826 52 43 334 + 4,003 + + + 48 256 208 722 514 657 1,312 134 807 1,919 58,714 21,984 5,177 27,161 28,161 -1,000 A net of $176 million of surplus reserves were eligible to be carried forward from the week ended December 24, into the week ending December 31. 17 Includes $50 million securities loaned—fully secured by U.S. Government securities pledged with Federal Reserve Banks. On December 31, 1969, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,030 million, a decrease of $269 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Dec. 24, Dec. 31 Dec. 31, 1968 1969 1969 A S S E T S Gold certificate account 10,036 10 * 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 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 LIABILITIES. Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other J3/ Total deposits Deferred availability cash items Other liabilities and accrued dividends 4/ TOTAL LIABILITIES C A P I T A L Capital paid in Surplus (771) 110 183 - 64 + 97 3 5 538 5 42 90 22,266 +3,510 1/ 31,392 3,496 57,154 +2,686 -1,979 +4,217 (2,425) 57J.54 57,401 10,463 2,627 (3,196) 80,753 6 - 359 - 365 -1,030 - 719 + 1 + 478 -1,275 (771) 47,473 151 +2,747 939 254 34 286 433 447 15 + + 116 21,984 1,312 134 807 (2,425) - + - +4,217 +4,220 + 999 + 3 - 267 +4,868 166 609 82 -1,046 + 60 + 753 +1,104 + 186 +4,790 669 669 + + + -- - 24,237 7,124 581 79,415 + - ACCOUNTS* Other capital accounts Contingent liability on acceptances purchased for foreign correspondents 146 39 268 39 39 — 37 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes $50 million securities loaned—fully secured by U. S. Government securities pledged with Federal Reserve Banks. 7j Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 31. 1969 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance w:j.th maximum maturity of the agreements.) U. S. Government securities and Discounts and Federal Agency obligations advances Acceptances Holdings Weekly changes 15 '" 2,148 Within 15 days 180 +602 11,168 49 16 days to 90 days 3 -262 — 22,707 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 --455 64 57,154 Total 183 4/ No accrued dividends at end of December. H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 31, 1969 Total Boston New York Philadelphia Cleveland Rich mond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) AS S E T S Gold certificate account 10,036 570 2,325 526 862 927 494 1,468 345 131 424 324 1,640 F. R. notes of other banks Other cash 771 110 76 5 159 8 35 5 68 10 68 6 91 15 49 14 29 10 21 3 44 7 29 8 102 19 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 183 2 52 1 4 12 39 19 15 3 18 17 * 64 -- — -- 64 — — — — -- -— __ -- — — — — — — --- -— — — -- — — — — — — — — 22,266 -31,392 3,496 57,154 — 57,154 57,401 1,129 -1,593 177 2,899 — 2,899 2,901 5,423 -7,646 852 13,921 -13,921 14,037 1,197 -1,687 188 3,072 -3,072 3,073 1,726 -2,434 271 4,431 — 4,431 4,435 1,665 -2,347 261 4,273 -4,273 4,285 Cash items in process of collection 12,888 Bank premises 116 Other assets 1/ 2,627 786 2 122 2,494 9 828 735 2 124 870 6 210 4,462 19,860 4,500 6,461 TOTAL ASSETS 83,949 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 1,242 1,751 195 3,188 -3,188 3,227 3,701 -5,217 581 9,499 — 9,499 9,518 820 -1 ,157 129 2 ,106 — 2 ,106 2 ,121 448 -632 70 ,150 — ,150 T 1 ,153 869 .. 1,225 137 2,231 — 2,231 2,249 958 -1,350 150 2 ,458 -2 ,458 2 ,475 1,070 11 138 1,119 18 149 2,187 17 361 622 10 84 432 6 55 882 18 101 714 8 131 6,505 5,113 13,614 3 ,221 1 ,801 3,725 3 ,689 r — — 3,088 -._ 4,353 485 7,926 — 7,926 7,927 ^ 324 • 10,998 H.4.1(c> STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 3 1 , 1969 i Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis 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 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for foreign correspondents 48,244 2,755 11,264 2,757 3,953 4,327 2,642 8,458 1,797 819 1,775 1,747 21,984 1,312 134 807 24,237 ' 9,549 834 65 6 16 921 693 5,826 303 1/ 37 7/539 6,705 1,398 991 71 7 18 1,087 557 1,551 94 12 24 1,681 663 1,090 131 7 29 1,257 809 1,322 96 8 18 1,444 909 2,950 108 19 51 3,128 1,734 824 68 4 12 908 449 538 49 3 6 596 344 1,056 128 6 15 1,205 666 1,222 3,780 81 118 7 18 13 66 1,323 3,982 520 807 581 82,611 29 4,398 139 19,506 31 4,432 44 6,341 44 6,437 32 5,027 96 13,416 21 3,175 12 1,771 23 3,669 25 85 3,615 •L0,824 669 669 — 32 32 — 177 177 — 34 34 -- 60 60 — 34 34 — 43 43 — 99 99 -- 23 23 — 15 15 — 28 28 -- 4,500 6,461 6.505 5,113 13,614 3,221^ 1.801 3,725 8 13 8 9 22 83.949 146 4,462 JL9_. 8 6 0 7 3/ 37 5 37 37 — 5,950 87 87 -- 3.689 :L0.998 3 6 8 20 1,841 1,863 6,244 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 1/ 7/ 3/ 50,412 2,875 11,793 2,829 4,200 4,456 3,222 180 500 300 510 545 48.152 51,374 2.717 2,897 11.400 11,900 2.620 2,920 3.750 4,260 3.955 4,500 After deducting S 97 million participations of other Federal Reserve Banks, Includes IMF gold deposit. After deducting S 109 million participations of other Federal Reserve Banks. 2,798 2.850 2,850 8,793 1,876 844 1,000 155 27 7.950 8,950 1.780 1,935 825 852 5 1.875 1,875 1.930 1,935 6.500 6,500
@FedFRASER