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FEDERAL ^TRT^*" H.4.1 RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release January 9, 1969 The average of daily figures of total reserves of member banks declined $367 million to $27,928 million. Required reserves increased $361 million, and excess reserves declined sharply from the unusually high level of the previous week. About 300 million of surplus reserves were eligible to be carried forward into the latest statement week. Float was the only factor absorbing a sizable amount of reserves in the latest period. The decline in float-was about seasonal, while the level of float still remains somewhat higher than is usual for this time of year. Currency in circulation declined $473 million, about seasonal, supplying a like amount of reserves. System open market operations provided reserves, on a weekly average basis, although some matched sale-purchase transactions were made near the end of the period. Member bank borrowings declined to a level of $499 million, and exceeded excess reserves by $365 million, compared with the revised figure of $456 million the previous week. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities— Bought 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 Averages of daily figures Week ended Change from week ended Wednesday, Jan. 8, Jan. 10, Jan. 1, Jan.. 8, 1969 1968 1969 1969 (In millions of dollars) 1/ 398 54 53,142 172 +4,033 + 98 52,722 + 16 2 1 17 29 57 + 499 819 + 319 180 3,346 57,261 10,367 6,801 74,430 375 842 +1 ,012 +5 ,489 -1 ,616 + 20 +3 ,894 2,928 55,887 10,367 6,799 73 ,053 50,472 763 579 217 490 -1,201 473 6 2 70 53 585 +3 ,615 622 475 56 3 522 +2,051 50 ,340 765 762 216 469 ,184 51,368 268 99 - 367 + 361 - 728 +1,844 + 173 +2,017 +2,447 - 430 21,686 4,819 26,505 1 27,794 1 -1,289 16 57 29 51,322 23,109 4,819 27,928 27,794 134 + + 13 854 NOTE: A net of $298 million of surplus reserves were eligible to be carried forward from the week ended January 1, into the week ending January 8. \J Reflects $550 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. On January 8, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,434 million, a decrease of $686 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDIT ION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Tuesday Wednesday Jan 8, 12/31/68 1/10/68 1969 ASSETS Gold c e r t i f i c a t e account \J (972) 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 U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets 3/ 10,025 1 -1,452 203 180 4 8 + 167 110 16 57 215 +3,031 28,706 5,475 2/ 52,722 215 +1,788 :i_612. +4,207 52,722 52,959 (2,011) 9,623 112 2.791 (2,983) 75.713 215 224 206 1 103 127 +4,207 +4,301 +1,817 (972) 44,166 560 +2,929 18,541 672 +5,171 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS LIABILITIES; Federal Reserve notes +1,946 87 21,686 Deposits: - 709 + 59 762 Member bank reserves __ + 51 216 U. S. Treasurer — general account - 278 16 Foreign 469 (3) +1,272 - 306 Other 4/ (3) 23,133 + 817 + 675 Total deposits 6,695 (2,008) + 4 + 93 Deferred availability cash items 399 Other liabilities and accrued dividends +5,111 187 (2,983) 74,393 TOTAL LIABILITIES C A P I T A L A C C O U N T S 628 + 26 Capital paid in 630 + 32 Surplus 2 62 62 + Other capital accounts Contingent liability on acceptances purchased + 53 for foreign correspondents 111 2 * 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.!f 2/ Reflects $550 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes assets denominated in foreign currencies and IMF gold deposited. 4/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 8, 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 Holdings advances Weekly changes Acceptances 1,570 -447 15 Within 15 days 175 +171 17,738 42 16 days to 90 days 5 -« -_ + 61 8,980 91 days to 1 year ---12,880 Over 1 year to 5 years -«_ -10,943 Over 5 years to 10 years -» -_ — Over 10 years 611 Total -215 52,722 180 57 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON WEDNESDAY, JANUARY 8, 1969 New Total Boston York Phila- Clevedelphia land St Richmond Atlanta Chicago MinneLouis apolis Kansas City San Dallas _——_—_— (In millions of dollars) ASSETS Gold certificate account Francisco 10,025 313 3,359 558 722 846 380 1,842 271 127 298 280 1,029 F. R. notes of other banks Other cash 972 203 83 11 192 20 58 6 83 25 102 15 99 26 70 25 40 24 20 3 29 16 55 10 141 22 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 180 63 21 3 17 5 29 21 4 6 3 8 -- 57 --- 57 --- -" -- •" —• -• -- .— -— ~ "• « •» - -. "— -" ~— 967 2,750 -2,750 2,813 4,444 __ 6,880 1,312 12,636 -12,636 12,714 697 2,215 2 — 17 18,541 -28,706 5,475 52,722 " 52,722 52,959 78,696 -1,524 1,462 -2,264 1,394 -2,157 1,029 -1,592 3,047 -4,717 291 432 411 304 899 2,799 -2,799 2,802 4,158 -4,158 4,175 3,962 -3,962 3,967 2,925 -2,925 2,954 8,663 -8,663 8,684 ~T,861 -- 127 657 2 136 745 5 225 858 1,042 18 10 157 147 1,893 10 879 17 380 4,046 19,389 4,219 5,980 4,676 12,911 -1,498 285 i 984 Includes assets denominated in foreign currencies and IMF gold deposited. "• •" • --- — Cash items in process of collection 11,634 1 112 Bank premises Other assets J7 2,791 TOTAL ASSETS •- - 5,945 654 358 718 789 -r -- 1,013 194 554 106 -1,112 -1,222 212 T ,018 -,018 ~T,024 T r86i~ 1 1 ,865 ~2 ,042 -,042 —j 2,045 630 8 91 445 3 59 796 19 110 2 ,929 1,681 3 ,313 233 T 7254~~ -- ~Z r24T" 2 ,252 646 9 138 2,695 -4,173 796 7,664 -7,664 7,664 1,010 9 342 3 ,390 10,217 11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OF JANUARY 8, 1969 ]1 Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San 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 accnled dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for forea.gn correspondents 45,138 2 ? 616 10,428 2,588 3,680 4,108 2,426 8,022 1,665 762 1,663 1,565 5,615 21,686 712 1 11 6,140 1,001 1,487 1,026 1,259 3,175 1 11 6 1 14 1 * 32 3 2 29 21 1,508 1,044 1,275 3,490 644 694 870 3,210 1,418 1,237 527 960 1 10 2 973 606 * 13 1 1,015 534 >v 5 1 540 339 3,438 * 20 1 731 1 7 1 740 464 1,223 755 * 12 2 497 873 10 15 16 61 3,257 3,315 10,039 27 27 2 36 36 3 84 85 9 3,_313_ 3,390 10,217 5_ 6 15 762 216 472 23,136 8,703 724 622 1/ 52 2/433 7,380 1,149 399 20 97 20 31 29 21 65 14 77,376 3,982 19,054 4,150 5,863 5,875 4,592 12,715 2,883 628 630 62 30 31 3 160 160 15 33 33 3 56 56 5 33 33 4 40 40 4 93 93 10 22 22 2 78,696 4,046 4,219 _ 5 , 9 8 0 5,945 111 5 10 6 •>v J-i_il89_ 3/ 28 6 1,651 14 14 2 _4,676__ 12,911 _2_, 929 _ 1,681 7 _16 4 3_ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 2,583 8,372 1,736 797 665 350 1,000 180 27 2,500 3,400 3,690 2,300 7,650 785 1,775 1,630 6,250 2,800 4,000 2,650 8,650 1,670 1,850 812 1,775 1,785 6,250 2,704 11,002 2,671 200 500 300 2,531 10,600 2,731 11,100 3,924 4,268 600 4,355 1/ After deducting $164 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. Digitized3/ for FRASER After deducting $ 83 million participations of other Federal Reserve Banks. 1,750 1,710 5,922 155 * Less than $500,000.
@FedFRASER