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 Condition Statement of F.R. Banks H.4.1 For immediate release October 13, 1967 The average of daily figures of total member bank reserves held during the week ended October 11, decreased $236 million to $2^-, 4l8 million, Estimated currency and coin of member banks decreased $217 million and their reserve balances at the Federal Reserve Banks decreased $19 million. Estimated required reserves decreased $111 million; and estimated excess reserves decreased $125 million to $296 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $151 million, compared with the revised figure of $277 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks was a decrease of $104 million in Federal Reserve float, and increases of $300 million in currency in circulation, and $136 million in Treasury deposits with Federa.1 Reserve Banks. The principal offsetting changes were increases of $3^3 million in U. 3. Government securities bought outright, and $237 million in U. S. Government securities held under repurchase agreements. Total Reserve Bank credit increased $W9 million. As of Wednesday, October 11, 1967, holdings of U. S. Government securities bought outright were unchanged from a week earlier, U. S. Government securities held under repurchase agreements were $636 million higher, and member bank borrowings were $20 million lower. Average of daily figures _ Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 11, "Oct. k, I Oct. 12, Oct. 11, and related items 1967 1967 I 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 47,319 +343 +4,350 ; 47,319 Held under repurchase agreements 237 +237 + 237 636 Federal Agency obligations— Held under repurchase agreements 7 + 7 7 36 Acceptances- Bought outright 5 4 + 1 1- 3 54 Held under repurchase agreements 68 - 38 + 24 94 Discounts and advances— Member bank borrowings 1*4-5 + 1 - 783 118 Other — - 19 -- Float 1,391 -104 - ^89 1,262 Total Reserve Bank credit 49,222 +449 +3,331 49,519 Gold stock 13,007 + 1 - 251 13,009 Treasury currency outstanding 6,767 + 4 + 646 6,778 68,996 +454 +3,726 69,306 Currency in circulation 45,407 +300 +2,179 45,625 Treasury cash holdings 1,473 - 27 + 374 l, 490 Treasury deposits with F. R. Banks 1,002 +136 + 322 i 91^' Foreign deposits with F. R. Banks 127 + 2 - 30 I 129 Other deposits with F. R. Banks 502 + 25 + 57 510 Other F. R. accounts (net) 93 + 39 + l 102 48,602 +472 + 2,901 48,770 Member bank reserves: With Federal Reserve Banks 20,394 - 19 + 824 20,536 Currency and coin (estimated) 4, 024 -217 + 236 t 4,639 Total reserves held 24,4i8 ":236"- 4i,c6o i 25,175 Required reserves (estimated) 24,122 -ill +1,177 ! 24,598 Excess reserves (estimated) 296 -125 - 117 577 On October 11, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign acc ount were $7,536 million, a decrease of $35 million for the week and an increase of $2*1-9 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Oct. 11, Oct. 4, , Oct. 12, 1967 1967 1966 A S S E TS Gold certificate account 10,638 - 322 Redemption fund for F. R. notes 1,869 - 2 -:- 56 Total gold certificate reserves 12,507 - 2 - 266 (574) 362 -:- 6 -:- 52 Cash 118 - 20 - 340 Discounts and advances Acceptances: 54 3 Bought outright Held under repurchase agreements 94 - 40 52 Federal Agency obligations-- Held under repurchase agreements 36 •:• 36 36 U. S. Government securities: Bought outright-- Bills 14,500 -- -1-3,484 -4,366 Certificates 26,198 •:-5,l85 Notes Bonds 6,621 - - -:- 183 Total bought outright 47,319 •:-4,486 Held under repurchase agreements 636 :-636 •:- 636 Total U. S. Government securities 47,955 -1-636 -:-5,122 Total loans and securities 48,257 -:-612 -1-4,873 Cash items in process of collection (1,798) 7,144 -334 -:- 107 Bank premises 111 -:- 7 Other assets 1/ 1,474 •:- 25 -:- 83 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS. (2,372) 69.855 -:-3Q7 •:-4,856 h I it Ik IL I 1 I V 1 Federal Reserve notes (574) 40,197 :-323 -:-2,00l Deposits: Member bank reserves 20,536 -321 -:-2,073 U. S. Treasurer—general account 914 •:-389 -:- 196 Foreign 129 - 5 5 Other 2/ 510 •:- 32 29 Total deposits 22,089 :• 95 !-2,235 Deferred availability cash items (1,798) 5,882 -165 -:- 469 Other liabilities and accrued dividends 292 -;- 13 -:• 38 TOTAL LIABILITIES 68,460 •:-266 •:-4,743 C A P I T AL A C C O U N TS Capital paid in 589 _ _ - 23 Surplus 570 -- 19 Other capital accounts 236 •:- 41 71 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 30.7% 2.i?; Contingent liability on acceptances purchased for foreign correspondents 187 11 47 * 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, OCTOBER 11, 1967. (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 Ag<2 ncy obligations advance Ac(l eptances Holdings Weekly changes Within 15 days 115 105 2,353 -:-728 16 days to 90 days 3 43 13,940 - 37 91 days to 1 year -- 15,370 - 19 m<m Over 1 year to 5 years • - 14,910 -- Over 5 years to 10 years -- --. 883 — Over 10 years _- " 535 ._._."_ Total 118 148 47,991 -1-672 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 11, 1967 r~ New Phila Cleve Rich St. Minne-j Kan &?} s San Total Boston York delphia land mond Atlanta Chicago Louis apolis City jL&llas Fran- 1 , CISCO (In millions of dollars) J" A S S E TS Gold certificate account 10,638 658 2,005 552 920 980 637 1,775 418 199 445 422 1,627 Redemption fund for F. R. notes 1,869 105 k56 96 148 163 103 331 66 32 73 66 230 Total gold certificate reserves 1 12,507 i 1 7 636 5 2,461 648 1,068 1,1^-3 740 2,106 484 231 518 488 1,857 F. R. notes of other Banks 57^ 189 26 27 37 55 29 23 17 27 20 59 Other cash 362 18 42 7 1)8 22 44 64 33 5 17 17 ^5 Discounts and advances 118 1 3 11 1 2 * 14 17 13 5 7 1 44 Acceptances: Bought outright 5^ i 5h -- -- - -- -• Held under repurchase agreements 9h ! 9h Federal Agency obligations- Held under repurchase agreements 36 36 U. S. Government securities: Bought outright-- Bills 1 1^500 7^8 3,586 769 1,107 1,064 784 2,433 • 517 298 564 6i4 2,016 Certificates 1 i -- -- -- -- -- -- -- -- -- -- -- Rotes j 26,198 j 1,352 6, ij.79 1,390 2,001 1,922 1,416 K 395 933 539 1,020 1 ,109 3,642 Bonds ; 6,621 : 3^-2 1,638 351 505 486 357 1,111 236 136 258 280 921 Total ^•7,319 2, 442 11,703 2,510 3,613 3,^2 2,557 7,939 1,686 973 1,BS2~~ 2., 003" -K7575 Held under repurchase agreements 1 636 -- 636 -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities V7.955 2,44-2 12,339 2,510 3,613 3,472 2,557 7,939 1,686 973_ l,8t)2 ,003 6,579 Total loans and securities li8,257 2, 445 12,534 2,511 3,615 3,472 2,571 7,956 1,699 978 1,849 2,, 004 6,623 Cash items in process of collection 8,9^-2 577 1,539 545 605 709 793 1,508 MS 304 571 461) 854 Bank premises ill 3 10 2 5 7 20 19 9 3 15 9 9 Other assets 1/ MTM 61 551 67 106 76 72 188 43 28 52 65 165 TOTAL ASSETS 72,227 3,932 17,326 3,806 5, hjk 5,466 4,295 11,870 2,764 1,566 3,049 3,, 067 9,612 * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ONOCT.CBER 11, 1967 H.4.1(c) New Phila Cleve Rich St. Minne Kansas] San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas: Frani CISCO (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 40,771 2,422 9,470 2,327 3,278 3,722 2,288 7,254 1,494 699 1,535 1,354 4,928 Deposits: Member bank reserves 20,536 860 5,618 875 1,415 912 1,092 3,052 770 516 843 1,160 3,423 U.S. Treasurer—general account 914 31 34 42 52 110 108 63 64 47 133 68 162 Foreign 129 6 1/ 33 6 11 7 8 19 5 3 6 8 17 Other 510 1 2/405 1 .1 10 3 3 2 3 1 80 Total deposits 22,089 898 6,090 924 1,479 1,039 1,211 3,137 839 568 985 1,237 3,682 Deferred availability cash items 7,680 531 1,319 467 574 608 696 1,225 373 261 458 387 781 Other liabilities and accrued dividends 292 14 85 14 21 20 15 46 10 6 11 12 38 TOTAL LIABILITIES 70,832 3,865 16,964 3,732 5,352 5,389 4,210 11,662 2,716 1,534 2,989 2,990 9,429 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 236 12 61 13 18 16 13 39 8 4 9 10 33 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 72,227 3,932 17,326 3,806 5,474 5,466 4,295 11,870 2,764 1,566 3,049 3,067 9,612 Contingent liability on accept ances purchased for foreign correspondents 137 3/48 10 17 10 12 27 11 24 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,504 9,900 2,365 3,479 3,832 2,384 7,469 1,568 728 1,595 1,451 5,158 Collateral for F. R. notes: Gold certificate account 450 1,000 490 600 740 450 1,400 317 127 225 180 735 Eligible paper U. S. Government securities 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 2,546 10,000 2,490 3,600 3,900 2,500 7,850 1,687 752 1,625 1,510 5,335 1/ After deducting $ 96 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. Less than $500,000 3/ After deducting $139 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis