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 *-rf*Zu&iy Condition Statement of F.R. Banks H.4.1 For immediate release November 9, 1967 The average of daily figures of total member bank reserves held during the week ended November 8, increased a net of $62 million to $24,760 million. Estimated currency and coin of member banks decreased $387 million and their reserve balances at the Federal Reserve Banks increased $449 million. Estimated required reserves decreased $54 million; and estimated excess reserves increased $116 million to $394 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $262 million, compared with the revised figure of $198 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $490 million in U. S. Government securities bought outright, $141 million in U. S. Government securities held under repurchase agreements, and $83 million in Federal Reserve float. The principal offsetting change was an increase of $222 million in currency in circulation. Total Reserve Bank credit increased $781 million. As of Wednesday, November 8, 1967, holdings of U. S. Government securities bought outright were $157 million higher than a week earlier, and member bank borrowings were $18 million higher. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, NaV. 8, Nov. 1, Nov. 9, Nov. 8, and related items 1967 1967 1966 1967 (Iri millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 47,710 -1-490 +4,429 47,713 Held under repurchase agreements 141 +141 52 -- Federal Agency obligations- Held under repurchase agreements 14 + 14 14 Acceptances- Bought outright 54 + 1 + 1 54 Held under repurchase agreements — -- 22 -- Discounts and advances- Member bank borrowings 132 + 52 - 514 169 Other __ -- 15 -- Float 1,372 + 83 - 518 1,085 Total Reserve Bank credit 49,424 -1-781 +3,324 49,021 Gold stock 12,907 - 71 - 351 12,909 Treasury currency outstanding 6,777 - 12 -i- 592 6,781 69,107 +696 +3,564 68,711 Currency in circulation 45,563 +222 :-2,157 45,853 Treasury cash holdings 1,474 - 11 + 311 1,477 Treasury deposits with F. R. Banks 928 - 1 + 188 599 Foreign deposits with F. R. Banks 127 •!• 3 35 | 137 Other deposits with F. R. Banks 470 + 8 + 35 474 Other F. R. accounts (net) -184 + 26 - 201 -231 48,379 +247 +2,457 48,309 Member bank reserves: With Federal Reserve Banks 20,728 +449 +1,108 ! 20,402 Currency and coin (estimated) 4,032 -387 -!- 297 4,402 Total reserves held 24,760 + 62 +1,405 24,804 Required reserves (estimated) 24,366 - 54 +1,389 24,283 Excess reserves (estimated) 394 +116 + 16 1 521 On November 8, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account ^ere $7,831 million, a decrease of $40 million for the week and an increase of $618 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 (tn millions of dollars) Wednesday Change since Nov. 8, Nov. 1, Nov. 9, 1967 1967 1966 A S S E TS Gold certificate account 10,541 - 2 - 432 Redemption fund for F. R. notes 1,367 + 1 + 68 Total gold certificate reserves 12,408 - 1 - 364 (493) 358 - 3 •:- 63 Cash 169 * 18 - 383 Discounts and advances Acceptances: Bought outright 54 _ _ + 3 Held under repurchase agreements -- -- 19 Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought fcutright — Bllls 14,894 + 157 +3,430 Certificates -- -- -4,366 Notes 26,198 -- +5,185 Bonds 6,621 -- + 183 Total bought outright 47,713' + 157 +4,432 Held under repurchase agreements Total U. S, Government securities 47,713 + 157 +4,432 ,.*•• • Total loans and securities 47,936 + 175 44.033 Cash items in process of collection (1,794) 6,921 - 555 + 112 Bank premises 111 -- + 7 Other assets 1/ 1,801 + 63 + 332 TOTAL ASSETS/LIABLITIES & CAPITAL ACCOUNTS (2,287) 69.535 - 32_1_ +4.183 L I A B I L I T I ES Federal Reserve notes (493) 40,406 + 376 +1,903 Deposits: Member bank reserves 20,402 - 163 +2,167 U. S. Treasurer—genera! account 599 - 309 - 192 Foreign 137 + 6 11 Other ll 474 + 1 + 40 Total deposits 21,612 - 465 +2,004 Deferred availability cash items (1,794) 5,836 - 274 + 168 Other liabilities and accrued dividends 289 + 3 + 47 TOTAL LIABILITIES (2,287) 68,143 - 360 +4,122 C A P I T AL A C C O U N T^ Capital paid in 590 -. » + 24 Surplus 570 -- + 19 Other capital accounts 232 + 39 + 18 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages — not consolidated) 30.3% ,2% 2.3% Contingent liability on acceptances purchased for foreign correspondents 164 + 54 Figures in parentheses are the eliminations made in the consolidating process 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Inc1udes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 8, 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 Acceptances Holdings Weekly changes. Within 15 days 165 9 8,308 - 679 16 days to 90 days 4 45 7,646 +1,186 91 days to 1 year 15,431 - 350 Over 1 year to 5 years 14,910 Over 5 years to 10 years 883 Over 10 years 535 Total T69 54 47,713 157 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 8, 1967 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dal ias Fran York delphia land mond Louis apolis City cisco (In millions! Of doll. ars) A S S E TS Gold certificate account 10,541 641 2,594 734 698 825 535 1,675 414 198 345 336 1,546 Redemption fund for F. R. notes 1,867 105 454 98 147 164 103 330 66 32 72 66 230 Total gold certificate reserves 12,408 746 3,048 832 845 989 ',638 2,005 480 230 417 402 1,776 F. R. notes of other Banks 493 61 151 22 28 27 52 26 16 16 25 16 53 Other cash 358 21 42 8 46 22 42 66 33 5 16 14 43 Discounts and advances 169 2 25 13 3 12 1 95 6 6 5 1 -- Acceptances: Bought outright 54 __ 54 __ __ __ __ __ __ ... _ — «• a» .. Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Held under repurchase agreements -- U« S. Government securities: Bought outright-- Bills 14,894 770 3,623 746 1,185 1,132 835 2,458 531 294 602 631 2,087 Certificates «- -- — -- -- -- -- — — -- -- -- -- Notes 26,198 1 ,355 6,371 1,312 2,085 1,992 1,469 4,324 934 518 1,058 1 ,109 3,671 Bonds 6,621 342 1,610 332 527 503 371 1 093 236 131 268 280 928 3 Total 47,713 2 ,467 11,604 2,390 3,797 3,627 2,675 7,875 1,701 943 1,928 2 ,020 6,686 Held under repurchase agreements -- -- -- — -- -- — — — -- -- -- ... Total U. S. Government securities 47,713 2 ,467 11,604 2,390 3,797 3,627 2,675 7,875 1,701 943 1,928 2 ,020 6,686 Total loans and securities 47,936 2 ,469 11,683 2,403 3,800 3,639 2,676 7,970 1,707 949 1,933 2 ,021 6,686 Cash items in process of collection 8,715 606 1,401 568 633 715 767 1,410 451 304 555 464 841 Bank premises 111 3 10 2 5 7 20 19 8 3 16 9 9 Other assets 1/ 1,801 77 632 83 137 96 93 237 55 35 67 82 207 TOTAL ASSETS 71,822 3 ,983 16,967 3,918 5,494 5,495 4,288 11,733 2,750 1,542 3,029 3 ,008 9,615 \J Includes assets denominated in foreign currencies and IMF gold deposited. 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 NOVEMBER 8, 1:9.67 San New Phila Cleve Rich St. Minne Kans as 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 40,899 2,413 9,530 2,339 3,282 3,759 2,310 7,228 1,498 694 1,536 1,365 4,945 Deposits: Member bank reserves 20,402 909 5,254 868 1,449 983 1,132 2,976 777 526 885 1,123 3,520 U.S. Treasurer—general account 599 25 1 35 54 52 73 82 47 17 78 35 100 Foreign 137 6 1/ 41 7 12 7 8 19 4 3 6 7 17 Other 474 1 2/380 1 - -9 2 2 1 2 2 74 Total deposits 21,612 941 5,676 911 1,515 1,051 1,215 3,079 828 547 971 1,167 3,711 Deferred availability cash items 7,630 548 1,326 581 552 587 662 1,170 366 263 450 387 738 Other liabilities and accrued dividends 289 14 73 14 23 22 16 48 10 6 12 12 39 TOTAL LIABILITIES 70,430 3,916 16,605 3,845 5,372 5,419 4,203 11,525 2,702 1,510 2,969 2,931 9,433 CAPITAL ACCOUNTS Capital paid in 590 28 154 31 53 31 37 86 20 14 26 34 76 Sux-plus 570 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 232 12 60 12 18 15 13 39 8 4 9 10 32 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 71,822 3,983 16,967 3,918 5,494 5,495 4,288 11,733 2,750 1,542 3,029 3,008 _.9.,_615 Contingent liability on accept ances purchased for foreign correspondents 164 8 3/ 43 8 15 8_ 10 24 6 4 7 10 21 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 42,559 2,477 9,961 2,377 3,492 3,854 2,408 7,438 1,572 7 20 1,601 1,468 5,191 Collateral for F. R. notes: Gold certificate account 6,664 450 1,000 510 600 670 450 1,400 317 127 225 180 735 Eligible paper U. S. Government securities 37,371 2,096 9,2.55 2,000 3,000 3,250 2,050 6,455 1,370 625 1,455 1,330 4,655 Total collateral 44,035 2,546 10,200 2,510 3,600 3,920 2,500 7,850 1,687 752 1,625 1,510 5,335 1/ After deducting $ 96 million participations of other Federal Reserve Banks. 1_! Includes IMF gold deposit. Less than $500,000. V After deducting $121 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis