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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release June 12, 1969 The average of daily figures of total reserves of member banks declined (net) $203 million in the latest statement week to $27,373 million. Required reserves declined substantially reflecting reductions in deposits in late May. A seasonal rise in currency in circulation and an increase in Treasury deposits with Federal Reserve Banks were the major factors absorbing reserves. Partially offsetting these reserve drains was an increase in float, of about seasonal proportion. System Open Market operations provided reserves, on a weekly average basis. Outright holdings of U. S. Government securities increased, on average, although some reserves were absorbed near the end of the week by matched salepurchase transactions. Excess reserves rose moderately in the latest week, while member bank borrowings declined $262 million to a level of $1,260 million. Borrowings exceeded excess reserves by $906 million, compared to the revised figure of $1,224 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 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 c o m Total reserves held Required reserves Excess reserves Averap;es of daily i:igu res Week ended Change from week ended Wednesday, June 11, June 12, June 11, June 4, 1969 1968 1969 1969 (In millions c>f dollars) l y 53,920 + 151 - 284 28 + 3,311 - 110 29 20 44 12 1 9 1,260 -2,341 2,560 60,318 10,367 6,744 77,429 50,666 262 + -- - 142 52 159 + 679 734 102 448 2,123 54,751 22,678 4,695 27,373 27,019 354 + + + --- + + - + - + + + - + - + - — — 7 14 46 582 13 765 58 502 + 4,458 -50 + 4,408 + 3,160 325 122 55 9 159 230 17 234 3 1 71 514 + 2,933 355 152 203 259 56 + + + + + + 53,798 — 284 -- -2,113 2,592 59,051 10,367 6,744 76,162 50,845 678 899 91 435 2,127 55,075 1,475 21,087 4,695 1,973 j 25,782 1,929 27,019 44 1 -1,237 498 NOTE: A net of $171 million of surplus reserves were eligible to be carried forward from the week ended June 4, into the week ending June 11. 1/ Reflects $500 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. On June 11, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,838 million, a decrease of $545 million for the week. H.4-1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday CInange since June 11, June 4, June 12, 1968 1969 1969 A S S E T S 3 — 10,022 Gold certificate account 189 502 (518) 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 (2,108) Cash items in process of collection Bank premises Other assets 2/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,626) • - 5 425 46 2 -- __ - 230 37 7 55 65 19,169 35 +2,076 30,501 4,128 1/53,798 -53,798 54,346 8,977 --- +2,875 -1,895 35 +3,056 -- 767T25 35 458 543 1 116 + ~ ~S9~I - 650 +2,406 +2,242 +1,067 + 1 + 46 +3,123 44,623 + 223 +2,683 21,087 -1 ,386 899 91 435 + 602 + 114 2,478 - h I A B IL IT IE £ Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign (518) Other 3/ (3) (3) Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES <± L t l ! kl± C a p i t a l paid in Surplus (2,105) 22,512 6,864 (2,626) 475 74,474 52 18 - 19 3 - 800 - 363 -__ 12 952 858 394 .j. + + 534 526 102 +2, 777 ACCOUNTS 659 630 363 3 -_ + + 44 32 270 + 58 Other capital accounts Contingent liability on acceptances purchased 59 for foreign correspondents 178 4 Figures in parentheses are the eliminations made in the consolidating process• 1/ Reflects $500 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 2/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 11, 1969 (Acceptances and securities held under repurchase agreements are classified as maturing v/ithin 15 days in accordance with maximum maturity of the agreements.) Di scounts and advances Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 ye.ars Over 5 years to 10 years Over 10 years Total 488 14 Acceptances 11 35 ---.. ----~ 502 46 Federal A,2;ency obligations Holdings We ekly changes 2,020 -198 -137 9,179 +300 20,300 7,691 -13,447 --661 - 35 53,798 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 11, 1969 New York Philadelphia Cleveland Richmond Minneapolis 268 201 352 225 29 18 17 18 7 5 18 13 17 11 61 24 71 55 17 14 61 24 42 — __ -- -- -- -- -- 3_, 241 662 379 715 826 2,748 1,603 217 2,828 5,157 698 9,096 1,054 143 1,859 604 82 1,065 1,138 154 2,007 1,314 178 2,318 4,372 592 7,712 1,065 1,079 2.007 2,068 2,318 2,342 7,712 7,754 727 19 599 9 Boston 10,022 648 3,262 489 737 965 465 F. R. notes of other banks Other cash 518 189 27 10 190 19 27 7 29 22 34 15 62 27 Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligationsHeld under repurchase agreements U. S. Government securities: Bought outright-Bills Certificates Hotes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities 502 77 84 24 13 20 • -. 46 -- -- -- 4,673 1,031_ 1,517 1,418 1,008 7,435 1,641 2,414 -U0HZ_ 4,257 2,257 __^0_5_. 3,980 A S S E T S Gold certificate account Cash items in process of collection Bank premises Other assets J7 TOTAL ASSETS 46 19,169 951 13,115 __2_2_2_ 2,894 53 ,,798 54,346 2.667 2,744 13.115 13,245 2.894 2,918 4.257 4,270 3.980 4,000 2.828 2,899 9.096 9,151 1,859 1,876 11,085 114 2.478 665 3 110 1,972 9 799 589 2 121 748 5 198 900 11 126 1,015 18 139 1,946 17 3J6_ 547 8 _Z9_ 78,752 4,207 19,496 4,153 6,009 6,051 4,625 !_/ Includes assets denominated in foreign currencies and IMF gold deposited. 1,150 1,512 30,501 204 .. 4,12.8_ 2,667 53,798 ML. San Francisco St. Louis Atlanta Chicago Total 12,647 2,813 424 4 _-5_L. 1,771 Kansas Dallas City J24_ 3,290 3,327 1,260 953 9 3JQ210,363 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 11, 1969 Total | Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis Kansas City San Dallas Francisco (In million 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 availcibility cash items Other liabilities and accui•ed dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES /ND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for forei-gn correspondents 45,141, 2,608 10,386 2,613 3,649 4,102 2,387 8,008 1,682 789 1,702 878 5,778 892 1/ 17 1/397 7,084 1,480 933 1 5 1 940 493 1,510 1 9 1,046 625 1 3 1 630 429 893 a. * 1,520 658 2,852 1 15 4 2,872 1,439 573 5 9 1,060 765 1,263 * 6 2 1,271 840 2 2 577 359 4 3 900 603 1,133 3,603 1 2 6 14 1 18 1,141 3,637 493 798 23 115 4751 77,100' 4,126 19,065 23 4,069 37 5,864 33 5,960 25 4,523 79 12,398 16 2,757 10 1,735 17 3,222 19 78 3,239 10,142 21,087 899 91 438 22,515 8,969 i ! | 5 883 612 1,586 5,629 659 630 363 31 31 19 175 160 96 33 33 18 59 56 30 34 33 24 42 40 20 96 93 60 23 22 11 15 14 7 28 27 13 78,752 4,207 19,496 4,153 6,009 6,051 4,625 12,647 2,813 1,771 3,290 178 9 3/ 45 9 16 9 12 26 6 4 8 10 24 1,762 1,712 5,877 37 36 15 86 85 50 3,327 10,363 FEDERAL RESERVE AGENTS' ACCOUNTS F„ R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 2,682 10,893 2,671 3,859 4,203 165 500 300 560 515 2,531 2,696 10,600 11,100 2,500 3,400 3,730 2,800 3,960 4,245 1/ After deducting $ 74 million participations of other Federal Reserve Banks. 27 Includes IMF gold deposit'^ Digitized3/ for FRASER /fter deducting $133 million participations of other Federal Reserve Banks. 8,248 1,758 808 1,000 180 27 2,600 7,650 1,650 795 1,775 1,780 6,250 2,600 8,650 1,830 822 1,775 1,785 6,250 2,537 * 5 Less than $500,000.
@FedFRASER