H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bank Reserves and ^rfHALi^y Condition Statement of F.R. Banks H.ll.l For immediate release October 5, 1967 The average of dally figures of total member bank reserves held during the week ended October k, increased a net of $^39 million to $2^,6^9 million. Estimated currency and coin of member banks decreased $3k million and their reserve balances a.t the Federal Reserve Banks increased $523 million. Estimated required reserves increased $202 million; and estimated excess reserves increased $237 million to $hk2 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $298 million, compared with the revised figure of $131 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $52k million in U. S. Government securities bought outright, and $70 million in member bank borrowings, and a decrease of $6l million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes was a decrease of $60 million in Federal Reserve float, and an increase of $63 million in currency in circulation. Total Reserve Bank credit increased $555 million. As of Wednesday, October k, 1967, holdings of U. S. Government securities bought outright were $617 million higher than a week earlier, and member bank borrowings were $33 million lower. Outright holdings of bills, notes, and bonds increased $553 million, $38 million, and $26 million, respectively. NOTE: Because October 12,(Columbus lay) is a holiday at several Reserve Banks, next week1s statement will be issued on Friday, October 13. Average of dally figures Member bank reserves, Week ended Change from week ended Wedne sday, Reserve Bank credit, Oct. k, Sept. 27/~ Oct. 5; Oct. kj and related items 1967 I 1967 1966 1967 In millions of dollars Reserve Bank credit: U. S. Government securities- Bought outright--System account ^6,976 +521] +3,987 Vj%3l9 Held under repurchase agreements 10 Federal Agency obligations-- Held under repurchase agreements Acceptances- Bought outright 53 + 2 * 5 5^ Held under repurchase agreements 106 + 20 + 99 131*- Discounts and advances-- Member bank borrowings Ikk + 70 - 68^ 138 Other -- -- - 15 -- Float 1, kjo - 60 - 355 1,431 Total Reserve Bank credit 1)8,7^8 +555 +3,026 ^9,076 Gold stock 13,006 -- - 252 13,0C9 Treasury currency outstanding 6,763 + U + 657 6,758 68,518 +560 +3,^32 68,843 Currency in circulation 45,107 + 63 +2,229 i)5,280 Treasury cash holdings 1,500 - 2 + 4c9 l, ^-97 Treasury deposits with F. R. Banks 866 - 61 + 173 525 Foreign deposits with F. R. Banks 125 - It 21 13^ Other deposits with F. R. Banks kTJ + 23 + 35 ^78 Other F. R. accounts (net) 5k + 17 - 3^ 73 ^8,130 + 37 +2,792 47,987 Member bank reserves: With Federal Reserve Banks 20,388 +523 + 6ko 20,857 Currency and coin (estimated) k,26l - 84 + 395 4,407 Total reserves held 2k, 649 +439 +1,035 25,264 Required reserves (estimated) 2k,207 +202 + 907 24,203 Excess reserves (estimated) kk2 +237 + 128 l,06l On October h, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,571 million, an increase of $1 million for the week arid an increase of $3^-9 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.k. 1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (in millions of dollars) Change since Oct. h Sept. 27 Oct. 5 1967 1967 i960 A S S E TS Gold certificate account 10,638 5 - 322 Redemption fund for P. R. notes 1,871 + 11 + 52 + 6 - 270 Total gold certificate reserves 12,509 Cash (673) g + 3 + 39 Discounts and advances 33 - 706 Acceptances: 5^ + 3 Bought outright 13^ 28 * 85 Held under repurchase agreements Federal Agency obligations-- Held under repurchase agreements U. S. Government securities: Bought outright-- , ^ _ ~ rr cc T 14,500 *- 553 +3,055 B Uq BCelrl lts ificates „ ~ -4,366 + 38 Notes 26A98 + 38 +5A85 + 26 Bonds 6,621 + 26 + 183 + 617 Total bought outright 1+7,319 + 617 +4,057 Held under repurchase agreements 68 + 617 Total u. S. Government securities ±LJ^2 t-JgL t ^ 9^ M ai loans and securities ^T^+5 + 612 +3; 371 Cash items in process of collection (2,001) 7,^78 + ^°3 + ^53 Bank premises 111 +1 + 7 Other assets l/ l,++9 +_ 29 + 10^ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,67*0 ^9,5^8 +1,05+ +3,70+ L I A B I L I T I ES 77 TZ r£), ±1 Federal Reserve" notes" (673) 39,87+ + 156 +1,964 Deposits: 20,857 + 818 + 862 Member bank reserves 525 - 186 + 19 U. S. Treasurer--general account 134 - 25 + 2 Foreign 2l78 + 28 22 Other 2/ Total deposits 21,99^ + 635 + 883 Deferred availability cash items (2,001) 6,0Vf + 207 + 777 Other liabilities and accrued dividends 279 i 18 +— 2J TOTAL LIABILITIES (2,67+) 68,19+ +1,Q16 +3,651 £ ^ 1 I 1 ^ h. h. 9. .2£UNT S Capital paid in 589 — f 23 Surplus 570 - + 19 Other capital accounts 195 38 + H Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 30.9$ — - 2#1$ Contingent liability on acceptances purchased for foreign correspondents 198 - l6 - +0 * Figures in parentheses are the eliminations made in the consolidating process, l/ Includes assets denominated in foreign currencies and IMF gold deposited. g/ Includes _^_gpjLd__deposit_. MATURITY DISTRIBUTION OF LOAMS AND SECURITIES, OCTOBER k, 19&7- (Ac ceptances 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 135 ~Wj 1,625 +1^ 16 days to 90 days 3 ^1 13,977 +244 91 days to 1 year — — 15,389 +19^ 0/*r 1 year to 5 years -- -- 14,910 + 45 Over 5 years to 10 years ~ -- 883 + 10 Over 10 years -- -- 535 + ^ Total 13g 188 47,319 +617 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 4, 1967 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 40,547 2,405 9,434 2,305 3,256 3,719 2,276 7,207 1,487 697 1,525 1,347 4,889 Deposits: Member bank reserves 20,857 889 5,652 894 1,391 939 1,061 3,262 751 502 878 1,131 3,507 U.S. Treasurer—general ii ccount 525 29 53 37 43 65 29 50 88 27 41 25 38 Foreign 134 6 45 6 11 6 8 17 4 3 5 7 16 Other 478 400 1 * 12 1 1 3 1 59 Total deposits 21,994 924 6,150 938 1,445 1,022 1,099 3,330 843 532 927 1,164 3,620 Deferred availability cash items 8,048 577 1,297 487 611 731 704 1,274 364 261 476 430 836 Other liabilities and accnl ed dividends 279 14 71 16 21 19 15 45 10 7 11 12 38 TOTAL LIABILITIES 70,868 3,920 16,952 3,746 5,333 5,491 4,094 11,856 2,704 1,497 2,939 2,953 9,383 CAPITAL ACCOUNTS Capital paid in 589 28 153 31 53 31 37 86 20 14 26 34 76 Surplus 570 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 195 10 51 10 15 14 11 32 6 3 8 8 27 TOT/'L LIABILITIES AND CAPITAL ACCOUNTS 72,222. 3,985 17,304 3,817 5,452 5,566 JhUL. 12,057 .2,750 1,528 2,998 3,028 9,560 Contingent liability on ace: eptances purchased for forei- gn correspondents 198 10 46 11 18 11 13 30 7 5 9 12 26 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 42,369 2,497 9,904 2,363 3,464 3,841 2,375 7,428 1,575 729 1,599 1,440 5,154 Collateral for F. R. notes: Gold certificate account 6,727 450 1,000 503 600 740 450 1,400 317 127 225 180 735 Eligible paper U. S. Government securities 37.081 2.096 9.000 2.000 3.000 3,160 2.050 6.450 1.370 625 1.400 ._1.330 4.600 Total collateral 43,808 2,546 10,000 2,503 3,600 3,900 2,500 7,850 1,687 752 1,625 1,510 5,335 J7 After deducting $ 89 million participations of other Federal Reserve Banks. 2!/ Includes IMF gold deposit. * Less than $500,000 2/ After deducting $152 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis