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&&S8&-. ••f^rsts^: FEDERAL RESERVE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 8, 1969 The average of daily figures of total reserves of member banks increased $529 million in the latest week to $28,158 million. Excess reserves and member bank borrowings rose sharply to levels well above the averages of recent weeks. A seasonal increase in currency in circulation, absorbing reserves, was augmented by an increase in Other Federal Reserve liabilities and capital. System Open Market operations more than offset these reserve drains, providing nearly $300 million in reserves, on a weekly average basis, primarily through repurchase transactions. Excess reserves rose to the very high level of $427 million. Some of these excess reserves were accumulated to cover the unusually high reserve deficit carried forward from the previous week. In addition, it is expected that a sizeable portion of these excess reserves will be eligible to be carried forward into the current reserve period. Along with the increase in excess reserves member bank borrowings rose to a level of $1,603 million, on weekly average. Borrowings exceeded excess reserves by $1,176 million compared to the revised figure of $1,067 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 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, April 30, May 8, May 7, May 7, 1969 1968 1969 1969 (In millions of dollars). 52,590 531 + + 41 304 + 25 52 70 1 12 + 1,603 486 + 48 38 708 + + + - + -- + + 709 591 159 458 + 2,002 53,565 + 23,494 4,664 28,158 27,731 + + + 427 - + - + + + 14 694 144 4 34 40 11 73 216 478 51 529 152 377 52,616 166 36 51 2,171 2,896 59,963 10,367 6,729 77,059 49,646 ,390 129 + + + 4 17 52 44 780 940 -14 1,954 704 411 2,840 4,448 58,612 117 10,367 6,732 67 4,264 i 75,711 2,978 49,923 400 ' 692 344 404 11 161 442 24 + 201 ' 2,017 + 2,422 53,639 + 1,842 : 22,071 + 618 | 4,664 + 2,460 1 26,735 + 2,414 27,731 + 46 1 - 996 NOTE: A net of $6 million of surplus reserves were eligible to be carried forward from the week ended April 30, into the week ending May 7. On May 7, 1969, Ik S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,960 million, an increase of $414 million for the week. CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Wednesday Apr. 30, May 8, May 7, 1968 1969 1969 ASSETS -105 10,023 Gold certificate account H.4.1(a) Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations Held under repurchase agreem nts U. S. Government securities: Bought outright Bills Certifica es Notes Bonds Total b ught ou right Held under repurchase agreements Total U. S. Government securities Total 1 ans and se uri ies Cash items in pr cess of colle tion Bank premises Other asse s 1/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS L I A B I L 1J£ I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other 2/ Total dep sits Deferred availability cash items Other liabilities and a crued dividends T* TAL LIABILITIES C A P I T A L Capital paid in Surplus (621) + 222 668 205 940 + 1 -1,592 52 44 46 4 1 79 5 18,183 31 +1,693 30,046 4,387 52,616 --- +2,800 -1,946 +2,547 166 52,782 53,818 (2,081) 8,705 + 31 - 362 - 331 -2,048 -1,173 70 +2,477 +3,135 +1,283 114 1 1 2,726 (2,702) 75,591 - 124 .Z-L345 + 337 +4,429 + 296 +2,459 -2,273 - 546 -!- 31 +1,930 - 861 + 28 16 38 -2,804 - 884 +1,059 + 706 + 83 +4,307 (621) 43,744 22,071 404 161 442 (1) (1) 23,078 (2,080) 6,752 427 16 (2,702) 74,001 -3,408 A C C O U N T S 652 630 308 + + + 38 32 52 Other capital accounts 61 Contingent liability on acceptances purchased ^^_J9T^BIL_P_<?I££sP0ndents 6 132 + + * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes assets denomina ed in foreign currencies and IMF gold deposited. 2/ Includes IMF gold dejiosit. MATURITY DISTRIBUTION OF..LOANS M P SECURITIES, MAY 7, 1969 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in a cordance with maximum maturi y of he agreements.) U. S. G \ernment securities and Discounts and advances Within 15 days 16 days o 90 days 91 days to 1 year Over 1 year to 5 yeais Over 5 years to 10 years Over 10 years To al ----- -«-_ Federal Agency obi lgations Holdings We elcly changes 2,781 -374 9,061 4-401 8,420 -437 _18,507 -13,376 .637 940 96 52,782 928 12 Acceptances 63 33 „ •410 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 7, 1969 H.4.1(b) • Total Bo ston New York Philadelphia Cleveland Richmond Atlanta Chicago St MinneLouis apolis Kansas City Dallas (In millions of dollars) A S S E T S Gold certificate account San Francisco 10,023 436 2,363 667 804 979 412 1,563 336 178 289 229 1,767 F. R. notes of other banks Other cash 621 205 51 9 210 23 36 8 46 24 44 15 76 28 35 18 18 20 6 5 17 15 16 12 66 28 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 940 113 126 2 28 76 148 221 47 22 55 47 55 52 44 -— 52 44 --- --- --- --- -— — — -.» --- --- --- 4,543 — 7,506 1.096 13,145 166 13,311 13,533 935 -1,546 226 2,707 --. 2.707 2,709 1,406 -2,323 339 4,068 -4.068 4,096 1,358 -2,244 327 3,929 ... 3.929 4,005 363 -598 87 1,048 ._ 1,048 1,070 692 766 -_ 1,265 185 2 ,216 2,003 2,058 2 2 ,263 2,586 -4,273 624 7,483 __ 7^83 7,538 698 3 121 1,701 9 881 687 2 131 772 5 213 405 4 5_4_ 742 19 105 595 9 4 ,214 18,720 4,240 5,960 -- 18,183 «30,046 4,387 52,616 166 52,782 153,818 962 -1 ,589 232 ,783 ..-. ~T .783 r2 ,896 "T Cash items in process of collection 10,786 Bank premises ! 114 1 Other assets JL/ 2,726 TOTAL ASSETS j^/ 78,293 1 Includes assets denominated in foreign currencies and IMF gold deposited 969 -1,602 234 ,805 -,805 2 ,953 2,979 -4,923 719 3,621 ... 8r621 8,842 880 11 146 1 ,042 18 150 1,716 17 372 553 8 86 6,080 4 ,679 12,563 2 ,876 ~T ~T 624 -1 ,033 151 1 ,808 -_ L ,808 1 ,855 1,722 __.• 1,144 167 2,003 «» «• 3,245 « • mm JJiL_ 3 ,254 995 9 337 10,740 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 7, 1969 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. MinneLouis apolis Kansas City TSan Dallas jFran|cisco (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 44,365 2,570 10,252 2,552 3,603 4,058 2,328 7,931 1,656 771 1,667 1,547 5,430 22,071 404 161 443 23,079 8,832 896 1 7 999 1 7 9 1,016 571 1,496 1 13 1,135 1,359 1,117 * JU 1,510 675 7 11 1,153 750 9 2 1,370 860 5 1 743 408 565 1 3 2 571 336 905 * 2,918 1 21 3 2,943 1,381 737 * 904 640 5,842 397 1/ 56 2/386 6,681 1,268 6 3 914 582 8 1 1,126 477 4,102 2 19 25 4,148 884 427 76,703 22 4,136 108 18,309 20 4,159 31 5,819 31 5,992 23 4,581 68 12,323 15 2,822 9 1,687 16 3,179 18 3,168 66 10,528 652 630 308 31 31 16 170 160 81 33 33 15 59 56 26 33 33 22 42 40 16 96 93 51 22 22 10 15 14 6 28 27 11 37 36 13 86 85 41 78,293 4,214 18,720 4,240 5,960 6,080 4,679 12,563 2,876 1,722 3,245 3,254 10,740 -- Contingent liability on acceptances purchased for foreign correspondents 3/ 33 -- * 20 12 18 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 2,643 10,784 2,621 3,820 ~47T60 200 500 300 560 515 2,531 2,731 10,600 11,100 2,500 2,800 3,400 3,960 3,730 4,245 1/ After deducting $105 million participations of other Federal Reserve Banks. 27 Includes IMF gold deposit! After deducting $ 99 million participations of other Federal Reserve Banks. Digitized 3/ for FRASER 275^3 — 2,600 2,600 87T74 l7T23~ 794 1,000 180 27 7,650 8,650 1,650 1,830 785 812 * T7T39 — 1,775 1,775 T7S8B 5770" 155 1,630 1,785 6,250 6,250 Less than $500,000.
@FedFRASER