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FEDERAL '•rf*4u&f. RESERVE factors Affectiig Boik Rtstrves aid Coiditioi StattMtut off F.R. Banks H.4.1 For immediate release September 4, 1969 The average of daily figures of total reserves of member banks declined $16 million (net) in the latest statement week to $26,869 million. Required reserves declined primarily reflecting a drop in U. S. Government demand deposits in the week of August 20. Excess reserves increased while member bank borrowings were about unchanged. The holiday outflow of currency and a seasonal decline in float were the major factors draining reserves in the latest period. System Open Market operations offset some of these reserve drains by providing $232 million reserves, on a weekly average basis, both through outright purchase of U. S. Government securities and repurchase agreements. Bank holdings of excess reserves were somewhat above the average level of recent weeks, perhaps in part related to the Labor Day holiday. Member bank borrowings exceeded excess reserves by $917 million compared to the revised figure of $1,026 million for the previous weeks. 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 advances-Member 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 54,638 131 + + 155 63 + 1,663 + 131 54,459 22 14 + 22 40 12 1 6 11 12 40 + 38 + 785 698 140 55 191 + 311 2,213 2,911 60,321 10,367 6,755 : 77,443 51,753 +* 1,239 2,018 2,770 60,871 10,367 6,752 77,990 51,491 684 868 148 462 2,121 55,773 22,217 4,652 26,869 26,547 - + + +. 1,018 + 3 ,931 — + + + + - + - + + 14 205 197 2 27 9 2 88 266 62 46 16 163 147 -- + 22 + 3 ,953 + 3 ,060 - + + + 103 70 8 5 268 679 748 178 513 2,145 56,016 + 787 21,426 + 201 4,652 + 26,078 + 988 + 921 26,547 322 + + 67 1 - 469 A net of $80 million of surplus reserves were eligible to be carried forward from the week ended August 27, into the week ending September 3. Member bank reserves: With Federal Reserve Banks Currency and coin Total reserves held Required reserves Excess reserves NOTE: Averages of daily figures Week ended Change from week ended Wednesday, Sept. 3, Aug. 27, Sept. 4, Sept. 3, 13M 1968 1969 19$9 + 3 ,167 On September 3, 1969, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,267 million an increase of $195 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. 3, Aug. 27, Sept. 4, 1968 1969 1969 A S S E T S Gold certificate account 10,027 m,mm + 1 + 177 253 * 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 1/ TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS LiABI.LiT.IES. 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 (633) 144 698 - 5 765 «... 40 12 20 27 19,763 30,553 4,143 54,459 (2,353) 222 54,459 55,197 9,044 - 222 - 219 - 441 -1,253 + 604 113 1 + 900 +2,348 -1,585 +1,663 +1,663 +1,904 +1,640 — 2,798 77,323 + - 196 459 +1,102 +4^470 (633) 45,482 + 286 +2,744 -1,093 - 205 + 40 + 31 -1,227 + 396 + 29 — 516 + 569 - 293 + 29 + 65 + 370 +1,088 + 138 +4,340 (2,986) 21,426 (2). 748 178 513 (2) 22,865 (2,351) 6,831 (2,986) 75,710 532 A C C O U N T S C A P I T A L 663 1 + 45 Capital paid in -+ 32 630 Surplus + 53 320 Other capital accounts + 58 Contingent liability on acceptances purchased for foreign correspondents 158 1 + 2 0 * 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, SEPTEMBER 3. 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 12 Within 15 days -820 691 2,244 16 days to 90 days 9,810 7 28 +497 91 days to 1 year -20,956 --145 Over 1 year to 5 years — -12,229 Over 5 years to 10 years 8,549 -— 671 — Over 10 years 54,459 Total "3J6T "5TJS «• •• • ^ 3 * » * * -. H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 3, 1969 Total Boston New York Philadelphia Cleve- Rich mond land Atlanta Chicago St • Louis Minneapolis Kansas City Dallas San Francisco (In millions of dollars) A S S E T S Gold certificate account 10,027 556 1,980 521 703 941 571 2,041 442 51 300 277 1,644 F. R. notes of other banks Other cash 633 144 76 4 129 11 68 7 42 17 49 12 65 23 30 13 26 15 27 3 28 11 17 10 76 18 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 698 63 101 24 40 51 33 157 14 9 70 30 106 40 — -- 40 — -- — — — — — — — -- — — — — — — -— -- -- -- -- -- — — -- 19,763 1,014 4,917 1,062 3,254 — 30,553 4,143 54,459 -- 54,459 55,197 Cash items in process of collection 11,397 113 Bank premises 2,798 Other assets \_l TOTAL ASSETS 80,309 — — 1,568 7,601 213 1,031 2,795 13,549 — — — 1,014 — 1,569 213 2,796 — 1,538 — 2,377 322 4,237 — — 2,275 309 4,056 — -- 1,641 223 2,926 — — 5,030 682 8,966 681 398 764 846 — — — — 1 ,054 143 ,878 616 83 ,097 r,878 i ,892 1,936 17 383 573 8 90 13,543 3 ,046 2,796 2,820 4,237 4,277 4,056 4,107 2,926 2,959 8,966 9,123 2,084 9 880 665 2 135 789 5 222 907 11 143 991 18 158 4,280 18,783 4,218 6,055 6,170 4,785 659 2 125 T — — "T — T1,097 ,106 — 2,795 13,549 2,858 13,690 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 1,472 — — — 1,182 160 2,106 -- 1,308 177 ~2 ,331 — 2,803 — 4,332 587 7,722 -- 2.106 2,176 ~2 ,331 2 ,361 7,722 7,828 420 5 58 741 18 108 588 9 150 1,044 9 346 1,670 3,382 3 ,412 10,965 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 3, 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 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 2,655 10,633 2,647 3,742 4,182 2,432 8,189 1,702 790 1,725 1,668 5,750 785 31 868 43 7 2 920 544 1,330 51 12 1 823 698 5,511 122 1/ 81 2/467 6,181 1,416 1,393 740 1,015 72 7 13 1,107 755 1,302 80 8 2 1,392 834 3,398 118 19 4 3,539 1,490 746 58 4 2 810 462 481 15 3 2 501 334 890 92 6 3 991 580 1,149 35 7 2 1,193 443 3,951 31 18 17 4,017 886 532 78,696 26 4,202 130 18,360 24 4,135 39 5,914 38 6,082 27 4,685 82 13,300 17 2,991 10 1,635 20 3,316 22 97 3,326 10,750 663 630 320 31 31 16 176 160 87 34 33 16 59 56 26 34 33 21 43 40 17 97 93 53 23 22 10 15 14 6 28 27 11 37 36 13 86 85 44 80.309 4.280 18.783 4.218 6.055 6,170 4,785 JjJ,543_ 3,046 1,670 3,382 3,412 10,965 158 8 2/ 40 8 14 8 10 4 7 9 21 46,115 21,426 748 178 \ 515 22,867 9,182 6 — 23 6 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securiti es Total collateral 48,014 2,764 11,018 2,734 3,978 4,301 3,282 200 500 300 560 535 46,031 49,313 2,601 2,801 10,800 11,300 2,600 2,900 3,500 4,060 3,810 4,345 1/ After deducting $ 97 million participations of other Federal Reserve Banks, 7/ Includes IMF gold deposit. 3/ After deducting $118 million participations of other Federal Reserve Banks. 2,576 — 2,650 2,650 8,438 1,783 82U 1,814 l,/b9 6,019 1,000 155 27 -- 5 -- 7,650 1,700 8,650 1,855 815 842 1,825 1,825 1,830 1,835 6,250 6,250
@FedFRASER