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FEDERAL RESERVE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks For immediate release, May 29, 1969 The average of daily figures of total reserves of member banks declined (net) $58 million in the latest statement weekLi#RA£?7>686 million. Excess reserves remained at a relatively low level, while required reserves and member bank borrowings declined moderately. A seasonal decline in float and a reduction in Other Federal Reserve assets were the major factors absorbing reserves. Offsetting some of these reserve declines was a decline in Treasury deposits with Federal Reserve Banks. System Open Market operations provided over $300 million of reserves, on a weekly average basis, primarily through the outright purchase of U. S. Government securities. System repurchase transactions continued to be a major source of reserves in the latest week. Member bank borrowings declined to a level of $1,303 million and exceeded excess reserves by $1,235 million compared to the revised figure of $1,269 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 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 Averages of daily figures Week ended Change from week ended Wednesday May 28, May 21, May 29, May 28, 1969 1968 IM9 1969 (In millions of dollars) 53,212 295 339 32 99 21 H- 99 73 46 57 4 10 - + 10 57 47 50 1,303 55 + - 539 13 506 527 1,649 -- — 2,007 2,729 59,747 10,367 6,740 76,855 50,033 - 361 158 262 -- + - + 1 260 65 3 124 8 680 404 123 442 + Q 1,972 53,653 + + 75 14 23,202 4;484 27,686 27,618 - + 274 216 58 37 21 68 - - + 2,623 + 295 + + + 4,622 - 17 54 + 4 ,552 + 3 ,096 373 672 42 21 + 212 + 2,199 53,328 108 -- 1,635 2,530 59,420 10,367 6,743 76,530 50,419 683 436 117 424 1,994 54,073 + 2,353 22,457 + 11 | 4,484 + 2,364 26,941 + 2,687 27,618 323 - 677 NOTE: A net of $80 million of surplus reserves were eligible to be carried forward from the week ended May 21, into the week ending May 28. On May 28, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $10,122 million, a decrease of $531 million for the week. H.4,1(a) 0F AUf. FEDERAL RESERVE BANKS (In millions b£ Solldrfe) Change since Wednesday May 28, May 21, May 29, 1968 1969 1969 t ^ CONSOLIDATED STATEMENT OF CONDXtldtf A S S E T S Gold certificate account 10,022 -- 4 195 1,649 8 + 546 - 232 -hi, 082 * 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 JL/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS 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 LIABILITIES (566) - 47 50 -- 73 44 '- 73 + 159 +1,823 -r 86 16 261 361 100 395 767 - 218 598 +2,875 -1,895 +2,803 + 108 +2,911 +4,110 + 938 + 2 + 241 +5,055 (566) 44,209 + 367 +2,660 22,457 436 117 424 23,434 (2,373) 6,526 462 (2,939) 74,631 - 607 + 54 23 + 4 - 572 - 446 3 : - 654 +2,015 - 514 - 74 - 35 +1 ,392 + 769 120 +4,941 18,699 30,501 4,128 53,328 108 53,436 55,255 (2,373) 8,161 114 2,416 (2,939) 76,163 7 4" -!+ - -- + 6 50 1 C A P I T A L A C C O U N T S Capital paid in 654 1 + 39 Surplus 630 -+ 32 Other capital accounts 248 55 + 43 Contingent liability on acceptances purchased for foreign correspondents 184 + 14 + 52 * 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, MAY 28, 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 advances Acceptances Holdings Weekly changes Within 15 days 1,606 63 2,939 -547 16 days to 90 days 43 34 8,508 +127 -91 days to 1 year -+193 20,263 Over 1 year to 5 years ---^ + 31 7,691 Over 5 years to 10 years •irs + 40 13,447 Over 10 years -. •+ 12 661 Total 1,649 97 53,509 -144 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 28, 1969 Total A S S E T S Gold certificate account F. R. notes of other banks Other 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 JL/ TOTAL ASSETS Boston New York Philadelphia Cleveland Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco 10,022 548 2,078 682 783 853 477 2,068 349 130 334 245 566 195 41 10 187 19 28 8 36 24 43 14 70 28 33 18 17 19 9 5 17 14 21 11 64 25 1,649 185 583 31 18 89 140 231 80 46 108 30 108 47 50 — -- 47 50 — — — — — -- — -- — -- — -- --- -_- --- --- 2,659 -.. 4,338 73 13,699 989 4,672 962 1,446 1,396 997 3,064 643 372 712 787 -- -- -- -- -- -- -- -- -- -• • «. ... 30,501 4.128 53,328 1,613 2,358 2,278 1,626 4,997 1,048 309 220 676 142 607 83 4,123 3,983 2,843 8,737 1,833 1,062 1,162 157 2 ,031 1,285 319 2,820 7,620 1,569 .1,031,. 212 13,323 2,743 108 -- 108 -- -- -- -- -- -- -- -- 53,436 55,255 2,820 3,005 13,431 14,184 2,743 2,774 4,123 4,141 3.983 4,072 2,843 2,983 8.737 8,968 1.833 1,913 1.062 1,108 10,534 621 3 1,810 106 598 2 114 803 5 193 824 11 120 980 18 136 1,776 9 788 17 324 473 8 77 4,334 19,075 4,206 5,985 5,937 4,692 13,204 2,856 218 114 ! 2,416 | 79,102 1,475 73 17 Includes assets denominated in foreign currencies and IMF gold deposited Richmond 1.74, 2,246 587 2.031 2 ,139 ~2 ,246 2 ,276 7,584 -.7.584 7,692 402 4 50 706 19 92 651 9 121 890 9 295 1,708 3 ,321 3 ,334 10,450 H.4.1(c) STATEMENT OF CONDITION OF EAoH FEDERAL RESERVE BANK ON MAY 28, 19t9 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. MinneLouis ap lis 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 accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES /ND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for foreign correspondents i 44,775 | 2,581 10,335 2,592 3,621 4,068 2,342 7,975 1,666 777 1,683 1,555 5,580 22,457 43i 117 424 23,434 8,899 1,027 1 6 1 1,035 480 1,514 1 11 1,046 1,386 3,460 751 853 802 5,972 429 1/ 28 2/389 6,818 1,392 982 1 5 3 991 567 1,136 1 7 1 1,145 533 3,788 2 16 16 3,822 776 462 23 77,570 4,259 132 18,677 31 31 13 79,102 184 654 ! 630 ! 248 847 * .A. -i< **C 1,526 669 6 8 1,060 93 7 2 1,395 836 18 2 3,480 1,449 4 1 756 366 548 1 3 1 553 336 21 4,128 34 5,850 33 5,854 23 4,596 70 12,974 15 2,803 9 1 ,675 16 18 3,257 3,251 68 10,246 170 160 68 33 33 12 59 56 20 34 33 16 42 40 14 96 93 41 23 22 8 15 14 4 28 27 9 37 36 10 86 85 33 4,334 19,075 4,206 5,985 5,937 4,692 13,204 2,856 1 ,708 3,321 3,334 10,450 9 3/ 47 10 16 10 12 27 6 4 8 10 25 800 1,742 1,682 5,846 •x 6 * -- FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 46,731 2,660 10,886 2,657 3,846 4,165 2,500 3,212 1,735 3,437 200 500 300 560 515 180 27 -- -- -- -- -- -- — -- 155 -- --- 1,000 -- 45,101 48,538 2,531 2,731 10,600 11,100 2,500 2,800 3,400 3,960 3,730 4,245 2,600 2,600 7,650 8,650 1.650 1,830 Z85 812 1.775 1,775 1.630 1,785 1/ After deducting $ 89 million participations of other Federal Reserve Banks. 27 Includes IMF gold deposit. 3/ After dedm cting $137 million participations of other Federal Reserve Banks. — * -- Less than $500,000. — — 6.250 6,250
@FedFRASER