H.4.1 Factors Affecting Reserve Balances of Depository Institutions

#3SSi&-. 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 November 2, 1967 The average of daily figures of total member bank reserves held during the week ended November 1, increased $195 million to $24,756 million. Estimated currency and coin of member banks increased $126 million and their reserve balances at the Federal Reserve Banks increased $69 million. Estimated required reserves increased $12 million; and estimated excess reserves increased $183 million to $375 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $295 million compared with the revised figure of $134 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks was an increase of $122 million in U. S. Government securities bought outright, and decreases of $158 million in Treasury deposits with Federal Reserve Banks, and $88 million in currency in circulation. The principal offsetting change was a decrease of $275 million in Federal Reserve float. Total Reserve Bank credit decreased $130 million. As of Wednesday, November 1, 1967, holdings of U. S. Government securities bought outright were $443 million higher than a week earlier, and member bank borrowings were $87 million higher. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 1, Oct. 25, Nov. 2, Nov. 1, and related items 1967 1967 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright —System account 47,220 +122 +4,262 47,556 Held under repurchase agreements - 61- Federal Agency obligations- Held under repurchase agreements Acceptances— Bought outright 53 2 54 Held under repurchase agreements 22 Discounts and advances- Member bank borrowings 80 + 22 514 151 Other 16 Float 1,289 -275 481 1,366 Total Reserve Bank credit 48 ,643 -130 +3, 171 49,127 Gold stock 12 ,978 - 29 - 279 12,909 Treasury currency outstanding 6 ,789 - 3 + 622 6,778 68,411 -162 +3,515 68,814 Currency in circulation 45,341 - 88 +2,252 45,472 Treasury cash holdings 1,485 + 3 + 331 1,475 Treasury deposits with F. R. Banks 929 -158 + 124 908 Foreign deposits with F. R. Banks 124 + 5 32 131 Other deposits with F. R. Banks 462 + 7 + 27 473 Other F. R. accounts (net) -210 - 177 -210 48 ,132 -230 +2, 526 48,249 Member bank reserves: With Federal Reserve Banks 20 ,279 + 69 + 989 20,565 Currency and coin (estimated) 4 ,477 +126 + 387 4,751 Total reserves held 24,756 +195 +1,376 25,316 Required reserves (estimated) 24,381 + 12 +1,280 24,622 Excess reserves (estimated) 375 +183 + 96 694 On November 1, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,871 million, an increase of $97 million for the week and an increase of $617 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 STATEMEET OF CONDITION OF ALL FEDERAL RESERVE BANKS (in millions of dollars) Wednesday, Change since Nov. I, Oct. 25, Nov. 2, 1967 1966 A S S E TS Gold certificate account 10, 543 - 95 - 430 Redemption fund for F. R. notes 1, 866 + 4 + 64 Total gold certificate reserves "12, 409 ~ -91 ™ ~3SF Cash (630) 361 - 1 + 60 Discounts and advances 151 + 87 - 694 Acceptances: Bought outright 54 - - + 3 Held under repurchase agreements • - .. - 19 Federal Agency obligations-- Held under repurchase agreements U» S. Government securities: Bought outright-- Bills 14,7 37 +443 +3 ,307 Certificates .- -4, 366 Notes 26,1 98 -- +5, 185 Bonds L£2I -- + 183 Total bought outright 47 ,556 +443 +4 ,309 Held under repurchase agreements -- 302 Total U, S. Government securities 47 .556 +443 +4", 007 Total loans and securities 47 ,761 +530 +3, 297 Cash items in process of collection (1,955) 7 ,476 +507 + 210 Bank premises 111 -- + 7 Other assets l/ 1 ,738 + 49 + 297 H TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,585) J356 +994 ±1, J0J L I A B I L I T I ES Federal Reserve notes (630) 40, 030 + 59 +1, 996 Deposits: Member bank reserves 20, 565 +495 + 679 U. S. Treasurer--general account 908 - 26 + 194 131 - 2 - 44 Foreign Other 2/ 473 + 12 + 43 Total deposits "22", 077 +479 +~" 872 Deferred availability cash items (1,955) 6 ,110 +398 + 554 286 + 19 + 26 Other liabilities and accrued dividends TOTAL LIABILITIES (2,585) 68, 503 +955 +3, 448 C A P I T AL A C C O U N TS Capital paid in 590 + 1 + 24 Surplus 570 -- + 19 Other capital accounts 193 + 38 + 14 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) Contingent liability on acceptances purchased 30.5% -.3% - 2 4% for foreign correspondents 161 - 15 71 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes assets denominated in foreign currencies and IMF gold deposited. £/_Includes IMF gold deposit, MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER U 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 Agency obligations advances Holdings' Weekly changes Within 15 days "'148"" 8,987 +67939 16 days to 90 days 3 6,460 -7,011 91 days to 1 year 15,781 + 515 Over 1 year to 5 years 14,910 Over 5 years to 10 years 883 Over 10 years 535_ Total 151 54 47 ,"556 + 443 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 NOVEMBER 1, 1967 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis City cisco (In millionss of doll. ars) A S S E TS Gold certificate account 10,543 676 2,391 640 824 954 546 1,888 332 221 395 371 1,305 Redemption fund for F. R. notes 1,866 105 455 96 147 165 103 330 66 32 72 66 229 Total gold certificate reserves 12,409 781 2,846 736 971 1,119 649 2,218 398 253 467 437 1,534 F. R. notes of other Banks 630 72 204 33 39 35 57 38 23 20 26 20 63 Other cash 361 21 43 8 47 22 43 63 34 6 16 15 43 Discounts and advances 151 2 54 1 Vr 1 1 14 10 3 27 * 38 Acceptances: Bought outright 54 — 54 — -- -- -- — -- — -- — -- Held under repurchase agreements — — — -- -- -- -- -- -- -- -- -- -- Federal Agency obligations- Held under repurchase agreements — U. S. Government securities: Bought outright- Bills 14,737 762 3,771 738 1,129 1,060 789 2,432 525 291 551 624 2,065 Certificates -« -- -- -- -- -- -- -- -- -- -- -- — Notes 26,198 1 ,355 6,704 1 ,312 2,007 1,885 1,401 4,324 934 518 978 1 ,109 3,671 Bonds 6,621 342 1,695 332 507 476 354 1,093 236 131 247 280 928 Total 47,556 \l ,459 12,170 2 ,382 3,643 3,421 2,544 7,849 1,695 940 1,776 2 ,013 6,664 Held under repurchase agreements -- — -- -- -- -- -- -- -- -- — -- -u Total U. S. Government securities 47,556 ,459 12,170 2 ,382 3.643 3.421 2.544 7.849 1,695 940 1.776 2 .013 6.664 Total loans and securities 47,761 2 ,461 12,278 2 ,383 3,643 3,422 2,545 7,863 1,705 943 1,803 2 ,013 6,702 Cash items in process of collection 9,431 671 1,670 568 690 730 793 1,604 475 315 596 496 823 Bank premises 111 3 10 2 5 7 20 19 9 3 15 9 9 Other assets JL/ 1,738 74 623 78 128 91 88 227 53 34 63 79 200 TOTAL ASSETS ! 72,441 4 ,083 17,674 3 ,808 5,523 5,426 4,195 12,032 2,697 1,574 2,986 3 ,069 9,374 i J7 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

II.4.1 (c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK NOVEMBER 1, 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 40,660 2,406 9,454 2,318 3,262 3,735 2,290 7,209 1,490 693 1,531 1,354 4,918 Deposits: Member bank reserves 20,565 901 5,801 851 1,419 903 1,069 3,104 714 521 846 1,150 3,286 U.S. Treasurer—general zi ccount 908 52 135 72 66 47 41 135 59 50 77 50 124 Foreign 131 6 1/ 35 7 12 7 8 19 4 3 6 7 17 Other 473 1 2/395 2 2 8 1 1 1 2 1 59 Total deposits 22,077 960 6,366 932 1,499 965 1,119 3,259 778 574 931 1,208 3,486 Deferred availability cash items 8,065 637 1,428 473 622 632 688 1,315 373 269 455 420 753 Other liabilities and accnl ed dividends 286 15 74 14 22 20 15 47 10 6 11 12 40 TOTAL LIABILITIES 71,088 4,018 17,322 3,737 5,405 5,352 4,112 11,830 2,651 1,542 2,928 2,994 9,197 CAPITAL ACCOUNTS Capital paid in 590 28 154 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 193 10 50 10 14 13 11 33 6 4 7 8 27 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 72,441 4,083 17,674 3,808 _5,_523_ 5,426 4,195 12,032 2,697 1,574 2,986 3,069 9,374 Contingent liability on ace: eptances purchased for foreign correspondents 161 8 3/ 42... 8 15 8 10 23 6 4 7 9 21 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 9,963 2,377 3,482 3,857 2,396 7,451 1,579 723 1,598 1,459 5,152 Collateral for F. R. notes: Gold certificate account 1,000 490 600 740 450 1,400 317 127 225 180 735 Eligible paper U. S. Government securities 9,200 2,000 3,000 3,160 2,050 6,450 1,370 625 1,400 1,330 4,600 2,546 10,200 2,490 3,600 3,900 2,500 7,850 1,687 752 1,625 1,510 5,335 Total collateral .1/ After deducting $ 96 million participations of other Federal Reserve Banks. .2/ Includes IMF gold deposit. • Less than $500,000. .3/ After deducting $119 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis