H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and '^f^^'' Condition Statement of F.R. Banks For immediate release H.4.1 October 19, 1967 The average of daily figures of total member bank reserves held during the week ended October 18, increased $627 million to $25,043 million. Estimated currency and coin of member banks increased $257 million and their reserve balances at the Federal Reserve Banks increased $370 million. Estimated required reserves increased $311 million; and- estimated excess reserves increased $3l6 million to $59^ million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $378 million, compared with the revised figure of $133 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $223 million in U. S. Government securities held under repurchase agreements, and $71 million in member bank borrowings, and decreases of $186 million in "other" F. R. accounts (net), and $60 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was an increase of $152 million in currency in circulation. Total Reserve Bank credit increased $262 million. As of Wednesday, October 18, 1967, holdings of U. S. Government securities bought outright were $27 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $351 million lower, and member bank borrowings were $19 million higher. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 18, Oct. 11, Oct. 19, Oct. 18, and related items 1967 1967 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account ^7,315 - 4 +4,79^ 1)7,292 Held under repurchase agreements 1J60 +223 + 460 285 Federal Agency obligations-- Held under repurchase agreements 27 + 20 27 15 Acceptances-- Bought outright 53 - l 2 .5^ Held under repurchase agreements 1)2 - 26 k2 7 Discounts and advances— Member bank borrowings 216 + 71 - 574 137 Other ~ 15 Float 1,396 - 22 - 759 1,771 Total Reserve Bank credit ^9,509 +262 +3,977 49,561 Gold stock 13,007 - 21J9 13,0C9 Treasury currency outstanding 6,781 + 111 + 636 6,781 69,351 69,297 Currency in circulation ^5,559 +152 +2,292 45,591 Treasury cash holdings 1,^81) + 11 + 36k 1,480 Treasury deposits with F. R. Banks - 60 + 236 1,139 9^2 Foreign deposits with F. R. Banks + 4 - 17 152 131 Other deposits with F. R. Banks 1*85 - 17 + k6 462 Other F. R. accounts (net) ;93 -186 - 37 -102 7-9T +2,88V 1^32 Member bank reserves: 1*8,508 With Federal Reserve Banks +370 +1,1)80 20,71° Currency and coin (estimated) +257 + 245 U,6ko 20,789 Total reserves held +62? +1,725 2573^ Required reserves (estimated) 25,043 +311 +1,620 24,s6i Excess reserves (estimated) +316 + 105 807 24,1)49 On October 18, 1967, U. S. Governme5n9t4 securities held in custody by the Federal Reserve Banks for foreign account were $7,690 million, an increase of $154 million for the week and an increase of $34-2 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. 18, Oct. 11, Oct. 19, 1967 1966 A S S E TS Gold certificate account 10,638 - 322 Redemption fund for F. R. notes 1,86k 5 + 5_6_ Total gold certificate reserves 12,502 5 - 266 Cash (627) 366 4 + 58 Discounts and advances 137 19 - 673 Acceptances: Bought outright 54 3 Held under repurchase agreements 7 87 7 Federal Agency obligations-- Held under repurchase agreements 15 21 U. S. Government securities: Bought outright -- Bills 14,473 27 +3/994 Certificates -4,366 Notes 26,198 +5,185 Bonds 6,621 + 183 Total bought outright 47,292 - 27 +4,996 Held under repurchase agreements 285 - 351 + 285 Total U. S. Government securities ^7,577 +5,281 HM Total loans and securities 47,790 +4,633 - 467 Cash items in process of collection :2,428) 8.390 + 357 +1,246 Bank premises 111 + 7 Other assets l/ 1,656 + 182 + 251 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,055 ] 70,815 + qSo +5,040 L I A B I L I_T I E S Federal Reserve notes (627) 40,149 48 +2,111 Deposits: Member bank reserves 20,719 + 183 +1., 838 U. S. Treasurer--general account 1A39 + 225 + 271 Foreign 152 + 23 + 14 Other 2/ 462 - 48 + 29 Total deposits 22,472 + 383 +2 ,152 Deferred availability cash items (2,, 428) 6,619 + 737 + 648 Other liabilities and accrued dividends 280 - 12 + 61 TOTAL LIABILITIES (3,, 055) 69,520 +1, 060 +4,, 972 C A P I T AL A C C O U N TS Capital paid in 589 23 Surplus 570 — - 19 Other capital accounts 136 100 26 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 30.7$ - 2.'< Contingent liability on acceptances purchased for foreign correspondents 178 9 - vr * Figures in parentheses are the eliminations made int he consolidating process, 1_/ Includes assets denominated in foreign currencies adn IMF gold deposited. 2 _JTncludes IMF gold deposit i "MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 18, 196? (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 Ac: ceptances Holdings Weekly changes Within 15 days ~134 17 2,490 +137 lb days to 90 days 3 44 13,416 -524 91 days to 1 year -- -- 15,358 - 12 Over 1 year to 5 years -- -- 14,910 -- Over 5 years to 10 years -- 883 -- Over 10 years -- -- 535 -- Total 137 61 47,592 -399 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 18, 1967 Sari New Phila Cleve Rich St. Minne Kansas1 Total | Boston York delphia land mond Atlanta Chicago Louis apolis City 1 Dallas Fran 1 cisco (In millions of dollars) A S S E TS Gold certificate account 10,638 801 2,321 618 908 949 560 1,619 465 207 438 329 1, 423 Redemption fund for F. R. notes 1.86*1 105 455 96 l4-7 161 103 330 66 32 7^ 66 2^0 Total gold certificate reserves 12,502 j 906 2,776 7l4 1,055 1,110 663 1,949 531 239 511 395 1,653 F. R. notes of other Banks 627 67 217 33 34 39 54 32 22 16 29 21 63 Other cash 366 19 43 8 47 23 45 65 34 5 17 16 44 Discount and advances 137 -- 7 * -- 1 14 63 8 3 9 1 31 Acceptances: Bought outright 5k 5k -._ Held under repurchase agreements \ 7 7 Federal Agency obligations— Held under repurchase agreements ! 15 15 U. S. Government securities: Bought outright-- Bills I1M73 1 Ikl 3,579 725 1,105 1,062 782 2,428 516 298 563 613 2,055 Certificates i 1 -- -- -- -- -- -- -- __ -- -- --. Notes 26,198 1,352 6, ii-79 1,311 2,001 1,922 1 ,4i6 4,395 933 539 1,020 1 ,109 3,721 Bonds 1 6,621 ' 342 1,638 331 505 486 357 1,111 236 136 258 280 941 Total ;47,292 : 2,44l 11,696 2,367 3,611 3,470 2 ,555 7,934 1,685 973 1,841 2 ,002 6,717 Held under repurchase agreements f 285 285 -- __ -- -- Total U. S. Government securities !47,577 2,Hi 11,981 2,367 3,611 3,470 2 ,555 7,93*) 1,685 973 l,84i 2 ,002 6,717 Total loans and securities 147,790 2, 44-1 12,064 2,367 3,611 3,471 2 ,569 7,997 1,693 976 1,850 2., 003 6,748 Cash items in process of collection 10,818 706 1,972 679 796 877 939 1,793 511 336 643 552 l, 014 Bank premises 1 111 3 10 2 5 7 20 19 9 3 15 9 9 Other assets 1/ I 1,656 70 597 76 122 85 83 216 50 34 60 74 189 TOTAL ASSETS 73,870 4, 212 17,679 3,879 5,670 5,612 4,, 373 12,071 2,850 1,609 3,125 3;0 70 9,720 l/ Includes assets denominated in foreign currencies and IMF gold deposited. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.h.1(c) STATMEKT OF CONDITION OF EACH FEDERAL RESERVE BANK OK OCTOBER 18, 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 dol]. ars) L I A B I L I T I ES Federal Reserve notes 40,776 2,421 9,467 2,328 3,277 3,725 2,289 7,249 1,496 699 1,533 1,356 4,936 Deposits: Member bank reserves 20,719 1,007 5,697 833 1,435 936 1,087 2,988 748 526 904 1,079 3,479 U. S. Treasurer--general account 1,139 44 176 66 106 93 74 122 137 51 83 79 108 Foreign 152 6 1/ 56 6 11 7 8 19 5 3 6 8 17 Other 462 1 2/368 1 1 11 1 1 1 1 1 1 74 Total deposits 22,472 1,058 6,297 906 1,553 1,047 1,170 3,130 891 581 994 1,167 •31678 Deferred availability cash items 9,047 659 1,511 564 706 752 820 1,458 410 292 509 463 903 Other liabilities and accrued dividends 280 13 73 13 22 19 15 45 9 7 33 12 19 TOTAL LIABILITIES 72,575 4,151 17,348 3,811 5,558 5,543 4,294 11,882 2,806 1,579 3,069 2,998 9,536 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 74 136 6 30 7 8 8 7 20 4 2 5 5 34 Other capital accounts TOTAL LIABILITIES AND _ CAPITAL ACCOUNTS 73,870 4,212 17,679 3,879 5,670 5,612 4,373 12,071 2,850 1,609 3,125 3,070 9,720 Contingent liability on accept ances purchased for foreign c orre spondent s 178 i 9 46 9 16 9 11 26 6 4 8 11 23 | FEDERAL RESERVE AGENTS* ACCOUNTS F. R. notes outstanding 42,487 2,500 9,913 2,370 3,482 3,845 2,388 7,471 1,565 724 1,597 1,455 5,177 Collateral for F. R. notes: Gold certificates account 6,714 450 1,000 490 600 740 450 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 43,795 j 2,546 10,000 2,490 3,600 3,900 2,500 7,850 1,687 752 1,625 1,510 5,335 1/ <- f ter deducting $96 million participatiotfs of other Federal Reserve UafUe's, 2/ Includes IMF gold deposited. * Less than $500,000. 3/ lifter deducting"$132 million parfcicipationc of otlVcr Federal fte&erve flanks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis