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;£23&.-- FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release July 3, 1969 H.4.1 The average of daily figures of total reserves of member banks increased $490 million in the latest statement week to a level of $27,424 million. Required reserves, excess reserves, and member bank borrowings all increased. The increase in required reserves reflects the rise in deposits during the mid-June tax payment period, A substantial amount of the excess reserves may be eligible to be carried forward into the next reserve period. The major factors absorbing reserves in the latesteweek were float and currency in circulation. Partially offsetting these reserve drains was a decline in treasury deposits with Federal Reserve Banks of over $200 million, on weekly average System Open Market operations provided about $370 million of reserves, on a x^eekly average basis. These reserves were about equally divided between outright purchase of U. S. Government securities and repurchase transactions. Member bank borrowings exceeded excess reserves by $1,214 milli n compared to the revised figure ot $1,168 million for 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 Acceptances-Bought 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. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. liabilities and capital Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held Required reserves Excess reserves Average:s of daily figures Week ended Change from week ended Wednesday, July 2, July 2, July 3, June 25, 1968 1969 ! 1969 1969 (In nlillions of doll.ars) 117 + + 180 117 53 + 53 42 19 « + 1,634 + 54,044 — 2,350 2,672 60,931 10,367 6,745 78,044 50,910 658 1,068 128 491 2,022 55,277 22,767 4,657 27,424 27,004 420 + •4- + + - + + + + + + + + + -— 1 19 17 24 43 309 + 1,141 284 3 390 - 6 385 224 6 221 19 23 64 103 283 207 490 227 263 13 519 721 + + + 4,324 -- 54,095 53 — - + 1,827 117 + — 25 + + 4,350 + 3,113 - + + + + + + + 222 47 57 31 207 2,964 1,387 198 1,585 1,347 238 -- i 561 -- 2,312 2,656 59,667 10,367 6,740 76,774 51,294 656 995 150 517 2,046 55,658 21,116 4,657 25,773 27,004 -1,231 NOTE: A net of $110 million of surplus reserves were eligible to be carried forward from the x^eek ended June 25, into the week ending July 2. On July 2, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,710 million, a decrease of $542 million for the week. CONSOLIDATED STATEMENT OF CONDITION OP ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday July 2, June 25, July 3, 1968 1969 1969 A S SE T S 2 10,027 Gold certificate account H.4.1(a) (520) 179 Cash 561 Discounts and advances Acceptances: 43 Bought outright Held under repurchase agreements Federal Agency obligations Held under repurchase agreements U. S, Government securities: Bought outright19,466 Bills Certificates 30,501 Notes 4,123 Bonds 54,095 Total bought outright Held under repurchase agreements 54,095 Total U. S. Government securities 54,699 Total loans and securities (2,549) 10,168 Cash items in process of collection Bank premises 113 Other assets 1/ 2,543 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,069) 77,729 I i I A B I L IT I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other 2/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILTIES (520) 45,049 21,116 995 150 (27) 517 (27) 22,778 (2,522) 7,856 464 (3,069) 76,147 4 787 240 56 15 889 -1-1,086 889 +2,755 -1,976 +1,865 755 +1,865 +1,906 +1,483 1 + 425 +3,575 + 499 +2,640 - + 9 - 153 - Ill _8 - 263 + 991 + 83 +3,451 -I- 889 + 102 -!- 702 50 + + + J. « + 54 552 44 59 503 680 15 +"691 C A P I T A L A C C O U N T S Capital paid in ~ 661 3 + 4 4 Surplus 630 -+ 32 Other capital accounts 291 61 + 4 8 Contingent liability on acceptances purchased for foreign correspondents 162 8 + 5 3 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 2, 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 Agency obligations Discounts and Weekly changes Holdings advances Acceptances +421 2,215 Within 15 days 544 9 +475 9,298 16 days to 90 days 17 34 - 7 20,783 91 days to 1 year — 7,691 Over 1 year to 5 years — 13,447 Over 5 years to 10 years -661 Over 10 years --+889 Total 561 43 54,095 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 2, 1969 Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis [Minneapolis Kansas City Dallas San Francisco (In millions of dollars) A S S E T S Gold certificate account 10,027 664 2,153 333 871 1,017 592 1,878 252 143 352 200 1,572 F. R. notes of other banks Other cash 520 179 27 9 173 16 42 7 33 22 35 14 56 25 30 16 18 19 14 4 22 13 16 11 54 23 Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligationsHeld 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 561 72 60 12 5 41 77 129 16 16 24 66 43 43 -- 43 -- -- -- -- -.- --. -. - m. -- — .. 19,466 985 4,820 1,039 1,518 1,460 1,056 3,189 701 397 748 824 2,729 30,501 4,128 54,095 1,544 209 7,552 1,022 1,627 220 2,378 322 2,288 310 1,655 224 4,997 677 1,098 148 622 84 1,172 159 1,291 174 2,738 13,394 2,886 4,218 4,058 2,935 8,863 1,947 1,103 2,079 2,289 4,277 579 7,585 .5A4125-. XJ3A 2,810 54,699 13,394 13,497 _2^a86 2,898 4-^218 4,223 4,058 4,099 Z^35 3,012 8,863 8,992 L*!47___!_,i03 1,963 1,119 2,079 2,103 2,289 2,355 7.585 7,628 768 2 113 2,145 9 815 711 883 1,013 1,130 2,171 470 876 2 120 5 202 11 132 18 143 17 345 8 82 4 58 19 97 736 9 126 1,163 9 310 4,393 18,808 4,113 6,239 6,321 4,976 13,449 2,993 1,812 3,482 3,453 10,759 Cash items in process of collection 12,717 Bank premises 113 Other assets J7 2,543 TOTAL ASSETS J7 80,798 Includes assets denominated in foreign currencies and IMF gold deposited, 651 - H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK IN JULY 2, 1969 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. MinneLouis apolis Kans as Dallas City 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 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 forei-gn correspondents 2,639 10,523 2,649 3,670 4,158 2,414 8,044 1,693 789 1,710 1,608 5,672 939 8 6 1 954 700 5,375 186 1/ 49 2/501 6,111 1,646 734 44 7 1 786 574 1,551 66 12 1 1,630 765 1,050 137 7 8 1,202 841 1,382 83 9 2 1,476 963 3,205 101 20 4 3,330 1,764 658 69 5 1 733 497 538 18 3 1 560 416 854 112 6 3 975 714 1,116 73 8 1 1,198 542 3,714 98 18 20 3,850 956 116 464 23 79,216 | 4,316 18,396 23 4,032 35 6,100 34 6,235 25 4,878 73 13,211 16 2,939 13 1,778 18 3,417 19 3,367 69 10,547 32 31 14 176 160 76 33 33 15 59 56 24 33 33 20 42 40 16 97 93 48 23 22 9 15 14 5 28 27 10 37 36 13 86 85 41 80.798 J 4,393 18,808 4,113 6,239 6,321 4,976 13,449 2,993 1,812 3.482 .3.453 10.759 8 3/ 41 8 14 9 10 24 6 4 7 9 22 5,926 45,569 21,116 995 150 544 22,805 10,378 [ ! ! 661 : 630 1 291! 162 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 47,407) 2,717 10,981 ,719 3,889 4,249 3,287 200 500 300 560 515 45,361 2,531 10,600 ,500 3,400 3,770 48,648 2,731 11,100 2,800 3,960 4,285 1/ After deducting $101 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. _/FRASER After deducting $121 million participations of other Federal Reserve Banks. Digitized3 for 2,562 8,289 1,759 812 1,768 1,736 1,000 180 27 -- 5 2,600 7,650 1,650 805 1,825 1,780 6,250 2,600 8,650 1,830 832 1,825 1,785 6,250
@FedFRASER