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 26, 1967 The average of daily figures of total member bank reserves held during the week ended October 25, decreased a net of $443 million to $24,575 million. Estimated currency and coin of member banks increased $150 million and their reserve balances at the Federal Reserve Banks decreased $593 million. Estimated required reserves decreased $108 million; and estimated excess reserves decreased $335 million to $222 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $164 million, compared with the revised figure of $341 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $460 million in U. S. Government securities held under repurchase agreements, $217 million in U. S. Government securities bought outright, and $158 million in member bank borrowings, and an increase of $145 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $154 million in Federal Reserve float, and decreases of $130 million in currency in circulation, and $117 million in "other11 F. R. accounts (net). Total Reserve Bank credit decreased $750 million. As of Wednesday, October 25, 1967, holdings of U. S- Government securities bought outright were $179 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $285 million lower, and member bank borrowings were $73 million lower. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 25, Oct. 18, Oct. 26, Oct. 25, gfld related items 1967 1967 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 47,098 •217 +4,383 47,113 Held under repurchase agreements •460 79 Federal Agency obligations — Held under repurchase agreements - 27 Acceptances- Bought outright 53 -- + 1 54 Held under repurchase agreements - 42 - 18 -- Discounts and advances — Member bank borrowings 58 -158 - 460 64 Other ... 15 -- Float 1,556 +154 - 487 1,257 Total Reserve Bank credit 48,765 -750 +3,325 48,488 Gold stock 13,007 _- - 249 13,009 Treasury currency outstanding 6,792 + 11 + 638 6,794 68,564 -738 +3,714 68,291 Currency in circulation 45,429 -130 +2,341 45,421 Treasury cash holdings 1,482 - 2 + 344 1,490 Treasury deposits with F. R. Banks 1,087 +145 + 163 934 Foreign deposits with F. R. Banks 119 - 12 8 133 Other deposits with F. R. Banks 455 - 30 + 23 461 Other F. R. accounts (net) -210 -117 - 165 -219 48,, 362 -146 +2,699 48,220 Member bank reserves: With Federal Reserve Banks 20., 202 -593 +1,015 20,070 Currency and coin (estimated) 4 ,373 +150 + 293 4,846 Total reserves held 24,575 -443 +1,308 24,916 Required reserves (estimated) 24,353 -108 +1,233 24,411 Excess reserves (estimated) 222 -335 + 75 505 On October 25, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,774 million, an increase of $84 million for the week and an increase of $496 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) Wednesday Change since Oct. 25, Oct. 18, Oct. 26, 1961 1967 1966 A S S E TS Gold certificate account 10,638 - 320 Redemption fund for F. R. notes 1,862 2 + 57 Total gold certificate reserves "12,500 2 - 263 Cash (656) 362 4 +• 56 Discounts and advances 64 73 - 533 Acceptances: Bought outright 54 -!- 3 Held under repurchase agreements 7 38 Federal Agency obligations-- Held under repurchase agreements 15 U. S. Government securities: Bought outright-- Bills 14,294 179 +3,498 Certificates -4,366 Notes 26,198 +5,185 Bonds 6,621 + 183 Total "bought outright 47,113 - 179 +4,500 Held under repurchase agreements - 285 - 151 Total U. S. Government securities 47^113 - 464 +4,349 Total loans and securities 47,231 - 559 +3,781 Cash items in process of collection (1,991) 6,969 -1,422 + 241 Bank premises 111 7 Other assets l/ 1,689 + 33 + 258 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS(2,647) 68,862 -1,954 +4,080 L I A B I L I T I ES Federal Reserve notes (656) 39,971 178 +2,057 Deposits: Member bank reserves 20,070 650 +1,304 U. S. Treasurer--general account 934 205 + 94 Foreign 133 19 8 Other 2/ 461 1 + 33_ Total deposits 21,598 875 +1,423 Deferred availability cash items (1,991) 5,712 907 + 508 Other liabilities and accrued dividends 267 13 + 40_ TOTAL LIABILITIES (2,647) 67,548 -1,973 +4,028 C A P I T AL A C C O U N TS Capital paid in 23 Surplus 570 19 Other capital accounts 155 19 10 Ratio of gold certificate reserves to F- R. note liability (computed from figures as shown on the following pages--not consolidated) oy + 17 - 30 1% Contingent liability on acceptances purchased for foreign correspondents 176 - 2 - 46 * 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. MfMII'y_.-.DISTRIBUTI0^ OF LOANS AMD SECURITIES, OCTOBER 25, iWf (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 advance2 S Acceptances ' Holdipgs Weekly changes Within 15 days 61 6 2,043 -442 16 days to 90 days 3 48 13,471 + 55 91 days to 1 year -- -- 15,266 - 92 Over 1 year to 5 years — -- 14,910 -- Over 5 years to 10 years -- — 883 -- Over 10 years 535 -- Total 64 54 47,113 -479 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 25, 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 dolla rs) A S S E TS Gold certificate account 10,638 564 2,933 596 896 929 490 1,512 379 210 401 467 1,261 Redemption fund for F. R. notes 1,862 105 455 96 147 159 103 330 66 32 73 66 230 Total gold certificate reserves 12,500 669 3,388 692 1,043 1,088 593 1,842 445 242 474 533 1,491 F. R. notes of other Banks 656 69 209 37 38 44 59 36 24 18 28 21 73 Other cash 362 21 41 8 47 23 44 64 34 5 16 15 44 Discounts and advances 64 2 10 1 1 * 11 22 9 1 6 1 -- Acceptances: Bought outright 54 -- 54 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements — -- -- -- — -- -- -- -- -- -- -- -- Federal Agency obligations-- Held under repurchase agreements -- U. S. Government securities: Bought outright-- Bills 14,294 737 3,578 716 1,092 1,049 773 2,398 509 275 556 581 2,030 Certificates __ — -- -- -- -- -- -- — _- -- -- -- Notes 26,198 1 ,352 6,556 1,311 2,001 1,922 1 ,416 4,395 933 506 1,020 1 ,065 3,721 Bonds 6,621 342 1,657 331 505 486 357 1,111 236 128 258 269 941 Total 47,113 T ,431 11,791 2,358 3,598 3,457 ~~2, 546 7,904 1,678 909 1,834 T ,915 6,692 Held under repurchase agreements -- -- -- -- — -- -- -- — -- -- __ — Total U. S. Government securities 47.113 .2, 431 11,791 2,358 3,598 3,457 2 ,546 7,904 1,678 909 1,834 1 ,915 6,692 Total loans and securities 47,231 2 ,433 11,855 2,359 3,599 3,457 2 ,557 7,926 1,687 910 1,840 1 ,916 6,692 Cash items in process of collection 8,960 584 1,535 539 631 718 807 1,493 426 312 606 512 797 Bank premises 111 3 10 2 5 7 20 19 9 3 15 9 9 Other assets 1_/ 1,689 71 608 77 126 88 85 220 51 31 61 76 195 TOTAL ASSETS 71,509 3 ,850 17,646 3,714 5,489 5,425 4 ,165 11,600 2,676 1,521 3,040 3 ,082 9,301 1/ 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

11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 25, 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 40,627 2,413 9,429 2,321 3,269 3,717 2,284 7,224 1,490 695 1,524 1,354 4,907 Deposits: Member bank reserves 20,070 740 5,997 789 1,409 890 1,007 2,777 714 483 852 1,127 3,285 U.S. Treasurer—general account 934 49 121 46 78 88 61 82 72 38 96 87 116 Foreign 133 6 1/ 37 7 12 7 8 19 4 3 6 7 17 Other 461 1 2/ 372 10 8 2 1 1 2 1 63 Total deposits 21,598 796 6,527 852 1,499 993 1,078 2,879 791 524 956 1,222 3,481 Deferred availability cash items 7,703 564 1,280 459 585 624 707 1,257 341 265 493 422 706 Other liabilities and accrued dividends 267 14 69 13 20 19 15 45 9 6 10 11 36 -TOTAL LIABILITIES 70,195 I 3,787 17,305 3,645 5,373 5,353 4,084 11,405 2,631 1,490 2,983 3,009 9,130 CAPITAL ACCOUNTS Capital paid in 589 ! 28 153 31 53 31 37 86 20 14 26 34 76 Surplus i 155750 27 148 30 51 30 35 83 20 14 25 33 74 1 Other capital accounts ! 8 40 8 12 11 9 26 5 3 6 6 21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ! 71,509 3,850 17,646 3,714 5,489 5,425 4,165 11,600 2,676 1,521 3,040 3,082 9,301 Contingent liability on accept ances purchased for foreign correspondents 176 8_ 3/ 46 9 16 9 11 26 6 4 8 10 23 FEDERAL RESERVE AGENTS1 ACCOUNTS —— 2,503 9,915 2,380 3,497 3,854 2,397 7,461 1,569 727 1,588 1,459 5,152 F. R. notes outstanding 42,502 Collateral for F. R. notes: Gold certificate 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 2,546 10,000 2,490 3,600 3,900 2,500 7,850 1,687 752 1,625 1,510 5,335 Vf After deducting $96 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. Less than $500,000. 37 After deducting $130 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis