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Foctors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release September 11, 1969 The average of daily figures of total reserves of member banks declined $84 million (net) in the latest week to $26,832 million. Required reserves were about unchanged, while excess reserves and member bank borrowings declined. The major factor affecting reserve flows in the past week was the very sharp drop in Treasury deposits with Federal Reserve banks. In addition, in order to meet temporary cash needs, the Treasury borrowed $1.1 million from the System through the issuance of special certificates. These borrowings combined with the lower Treasury balance provided nearly $1.4 billion of reserves on weekly average. To offset these large reserve provisions, System Open Market operations absorbed over $1.4 billion of reserves, on a weekly average basis, primarily through matched sale-purchase transactions. A record level of $2.3 billion of such transactions were outstanding at the end of the week. With reserves readily available from alternative sources, member bank borrowings declined below the average of recent weeks to $740 million. Borrowings exceeded excess reserves by $464 million, compared to the revised figure of $870 million for the previous week. Avera?'es o f daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit Sept. 10, Sept . 3, Sep t. 11, Sept. 10, 1969 1969 1969 1968 and related items (In millions of dollars) Reserve Bank credit: U. S. Government securities-53,362 + 1 ,034 - 1 ,276 51,654 Bought outright--System account — -— Held under repurchase agreements 131 1,102 507 + 507 Special Certificates + 494 Federal Agency obligations-— — — 22 Held under repurchase agreements Acceptances--«. Bought outright 40 11 37 — — -12 Held under repurchase agreements Discounts and advances-(- 106 340 740 499 Member bank borrowings Other + 318 Float + 479 2,383 2,309 2,930 Other F. R. assets + 1 ,085 2,971 + 160 59,963 955 58,413 + 3 ,188 Total Reserve Bank credit — — 10,367 Gold stock 10,367 Treasury currency outstanding 6,757 24 + 6,758 5 + 77,086 75,538 951 + 3 ,211 Currency in circulation 51,618 + 2 ,933 51,731 + 127 Treasury cash holdings 105 682 2 687 Treasury deposits with F. F. Banks 132 15 853 8 Foreign deposits with F. R. Banks 121 96 27 13 Other deposits with F. R. Banks 460 2 14 439 + Other F. R. liabilities and capital 2,177 56 2,199 + 272 + 55,072 55,160 701 + 2 ,968 Member bank reserves: y With Federal Reserve Banks , Currency and coin Total reserves held Required reserves Excess reserves NOTE: _1/ - 22,015 4,817 26,832 26,556 + 276 - + - 249 165 84 9 93 + + + + - 244 396 640 920 280 20,378 4,817 25,195 26,556 -1,361 A net of $169 million of surplus reserves were eligible to be carried forward from the week ended September 3, into the week ending September 10. Reflects $2,333 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. On September 10, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,321 million an increase of $54 million for the week. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Sept. 11, Sept. 10, Sept. 3, 1969 1968 1969 A S S E T S Gold certificate account 10,027 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 - Special - Other 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 2^/ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS LIAJ3I_LI_TI_Ej3 Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other 3_/ Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (670) 145 340 + - 1 358 + 37 164 225 14 -2,805 +1,102 61 +1,102 •1,703 +2,348 -1,585 +1,804 52,756 53,133 (2,377) 9,185 113 2.858 (3,047) 75,461 •1,703 -2,064 + 83 +1,804 +2,015 +1,111 60 -1,920 + 977 +3,940 (670) 45,465 17 +2,672 20,378 8 96 439 20,921 6,876 509 73,771 -1,106 - 740 82 74 -2.,002 16,958 1,102 30,553 4,143 1/ 52,756 (1) (1) (2,376) (3,047) + - 45 23 -1,997 + 542 13 33 21, : + 475 + 517 + 122 +3,786 A C C O U N T S C A P I T A L Capital paid in 679 + 1 6 + 61 Surplus 630 — + 32 Other capital accounts 381 + 6 1 + 61 Contingent liability on acceptances purchased 36 for foreign correspondents 162 + 4 + * Figures in parentheses are the eliminations made in the consolidating process. 1/ Reflects $2,333million 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. SEPTEMBER 10, 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 Acceptances Holdings Weekly changes advances 334 10 2,695 + 451 Within 15 days 6 27 7,902 -1,908 16 days to 90 days - 246 20,710 91 days to 1 year 12,229 Over 1 year to 5 years Over 5 years to 10 years 8,549 Over 10 years 671 Total •1,703 52,756 340 37 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON Total Boston New York Philadelphia Cleveland Richmond SEPTEMBER 10, 1969 Atlanta Chicago St. Louis Minneapolis Kansas c Lty San Dallas Francisco (In millions of dollars) A S S E T S Gold certificate account 10,027 544 1,156 752 1,055 1,047 598 1,932 396 150 391 330 1,676 F. R. notes of other banks Other cash 670 145 78 5 160 12 68 7 41 17 54 12 64 23 30 13 22 15 25 3 32 11 19 9 77 18 Discounts and advances Acceptances: Bought outright Held under repurchase agreements Federal Agency obligations-Held under repurchase agreements U. S. Government securities: Bought o u t r i g h t — Bills Certificates—Special Other Notes Bonds Total bought outright Held under repurchase agreements Total U. S. Government securities Total loans and securities 340 20 128 __ 10 1 10 96 7 3 46 15 4 Cash items in process of collection Bank premises Other assets \_l TOTAL ASSETS 1/ — — 37 — — — — — ~ -— — — -— -— -—. --- -— --- -- — -- -- — -- — -- __ -- ... -- •— 4,219 1,102 870 1,320 1,263 584 342 656 726 2,405 -- — -- — ._ — -- — -- — -- — -- — _• 7,601 1.031 13,953 1,569 213 2,652 1 ,182 1 ,308 160 177 ,998 ~2 ,211 4,332 587 7,324 37 16,958 1,102 __ 870 — — 30,553 4.143 52,756 1 ,568 213 ~2 ,651 -- -- 52.756 53,133 ~ 2 ~ ,651 2 ,671 11,562 113 2.858 78,508 2,377 322' 4,019 — — 1 ,641 223 ~2~,775 — 2,792 — -- 5,030 682 8,504 — -- -- 13.953 14,118 2.652 2,652 4.019 4,029 3.847 3,848 ~2~• 775 2 ,785 8.504 8,600 683 2 127 1,983 9 920 622 2 137 811 5 225 962 11 148 1 ,067 18 161 1,888 17 389 4 ,110 18,358 4,240 6,183 6,082 4 ,716 12,869 — Includes assets denominated in fo reign cu rrencies and IMF gold deposited. 2,275 309 3,847 911 — — 1,054 143 1,781 — 1.781 1,788 579 8 9_1_ 2,899 616 83 1,041 ~T — "T.998 -- -- ~2~.211 2 ,044 2 ,226 7.324 7,328 463 5 58 795 18 109 645 9 141 1,064 9 352 1,748 3 ,400 3 ,379 10,524 -- 1.041 1,044 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 10, 1969 Total Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago St. Louis Minneapolis Kansas City San Dallas 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 forei-gn correspondents 46,135 2,658 10,610 2,644 3,754 20,378 8 96 440 20,922 9,252 713 1 5 2 721 627 5,502 * 1/ 21 2/387 5,910 1,282 971 1,531 * 9 2 1,542 704 23 509 76",818 4,02" 9 118 17,920 679 630 381 31 31 19 176 160 102 28,508 4*110 162 8 5 5 981 505 2,435 8,192 1,705 792 1,727 1,677 5,759 941 1,264 1 1 5 6 12 2 959 1,273 813 879 2,838 1 15 4 656 * 4 1 661 460 515 1 2 2 520 389 919 * 4 3 926 659 1,085 1 6 2 1,094 499 3,443 2 14 18 3,477 947 16 19 20 103 3,331 3,290 10,286 4,182 2,858 1,488 5,y»y 26 4,613 77 12,615 2,842 11 1,712 59 56 31 34 33 26 43 40 20 98 93 63 23 22 12 15 14 7 28 27 14 37 36 16 101 85 52 4,240 6,183 6,082 4,716 12,869 2,899 1,748 3,400 3,379 10,524 8 15 8 10 24 6 4 7 9 22 1,814 1,808 6,01U 37 24 4,154 "6,037 34 33 19 18,358 3/ 41 35 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 1/ 7/ 3/ 48,120 2,771 11,038 2,725 3,973 4,318 3,357 200 500 300 560 610 46.035 2,597 10,800 2 r 599 3,500 3,769 49,392 2,797 11,300 2,899 4,060 4,379 After deducting $ 75 million participations of other Federal Reserve Banks, Includes IMF gold deposit. After deducting $121 million participations of other Federal Reserve Banks. 8,464 1,784 824 1,000 155 27 2,650 7,650 1,700 815 1,875 1,830 6,250 2,650 8,650 1,855 842 1,875 1,835 6,250 2,591 * 5 Less than $500,000.
@FedFRASER