H.4.1 Factors Affecting Reserve Balances of Depository Institutions

iitSSfe F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release November 16, 1967 The average of daily figures of total member bank reserves held during the week ended November 15, decreased $97 million to $24,675 million. Estimated currency and coin of member banks increased $214 million and their reserve balances at the Federal Reserve Banks decreased $311 million. Estimated required reserves decreased $251 million; and estimated excess reserves increased $154 million to $510 million* Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $348 million compared with the revised figure of $224 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were increases of $315 million in currency in circulation, and $168 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $61 million in Federal Reserve float, and a decrease of $56 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $93 million. As of Wednesday, November 15, 1967, holdings of U. S. Government securities bought outright were unchanged from a week earlier, U. S. Government securities held under repurchase agreements were $112 million higher, and member bank borrowings were $23 million lower. Average of daily fip; ures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 15, Nov. 8, Nov. 16, Nov. 15, and related items 1967 1967 1966 1967 (Iri millions of: dollars) j Reserve Bank credit: U. S. Government securities- Bought outright--System account 47,713 + 3 +4,448 47,713 Held under repurchase agreements 153 + 12 + 3 112 Federal Agency obligations-- Held under repurchase agreements 2 - 12 2 5 Acceptances-- Bought outright 54 . . + 3 54 Held under repurchase agreements — — 23 -- Discounts and advances-- Member bank borrowings 162 + 30 - 549 146 Other -- -- 15 -- Float 1,468 + 61 - 483 1,501 Total Reserve Bank credit 49,551 + 93 +3,386 49,531 Gold stock 12,907 -- - 352 12,909 Treasury currency outstanding 6,782 + 5 + 570 6,782 69,240 + 98 +3,604 69,222 Currency in circulation 45,878 +315 +2,113 46,038 Treasury cash holdings 1,470 - 4 + 302 1 1,465 Treasury deposits with F. R. Banks 1,096 +168 + 382 1,183 Foreign deposits with F. R. Banks 133 + 6 + 3 ! 140 Other deposits with F. R. Banks 451 - 19 1 456 Other F. R. accounts (net) -240 - 56 - 299 7 48,789 +410 +2,500 49,289 Member bank reserves: With Federal Reserve Banks 20,451 -311 +1,104 19,933 Currency and coin (estimated) 4,224 +214 + 217 ! 4,791 Total reserves held 24,675* - 97 +1,321 24,724 Required reserves (estimated) 24,165 -251 +1,358 24,321 Excess reserves (estimated) 510 +154 37 1 403 i On November 15, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,033 million, an increase of $202 million for the week and an increase of $738 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 Nov. 15, Nov.8, Nov. 16, 1967 1967 1966 A S S E TS Gold certificate account 10,511 30 - _4n60 Redemption fund for F. R. notes 1,892 -:- 25 4^ Total gold certificate reserves 12,403 5 . 363 Cash (481) 354 4 + 57 Discounts and advances 146 23 - 402 Acceptances: Bought outright 54 -f- 3 Held under repurchase agreements -- - - 22 Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 14,894 +3,477 Certificates -4,351 Notes 26,804 + 606 +5,526 Bonds 6,015 606 173, : Total bought outright 47,713 +4,479 Held under repurchase agreements 112 + 112 + 112 Total U. S. Government securities 47,825 + 112 +4.591 Total loans and securities 48,030 + 94 +4.175 Cash items in process of collection (2,354) 8,566 +1 ,636 - 629 Bank premises 111 + 7 Other assets 1/ 1,428 373 + 329 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,835) 70,892 +1 ,348 +3,576 L I A B I L I T I ES Federal Reserve notes (481) 40,569 + 163 +1,966 Deposits: Member banks reserves 19,933 - 478 +1,110 U. S. Treasurer--general account 1,183 + 584 + 362 Foreign 140 + 3 + 1 Other 2/ 456 18 40 Total deposits 21,712 + 91 +1 ,513 Deferred availability cash items (2,354) 7,065 +1= 229 + 5 Other liabilities and accrued dividends 284 - 5 + 39 TOTAL LIABILITIES (2,835)69,630 +1,478 +3,523 C A P I T AL A C C O U N TS Capital paid in 59@ + 23 Surplus 570 + 19 Other capital accounts 10J2 130 + 11 Ratio of gold cerfificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 30.27 o .17c - 2.3% Contingent liability on acceptances purchased for foreign correspondents 166 + 2 46 * Figures in parentheses are the eliminations made in the consolidating process. \J Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. , il/iTURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 15, 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 A advances Acceptances Holdings Weekly changes Uithin 15 days 141 11 2,128 -6,180 16 days to 90 days 5 43 6,640 -1,006 91 days to 1 year — -- 21,507 +6,076 Over 1 year to 5 years -- -« 16,137 +1,227 Over 5 years to 10 yearss -- 883 Over 10 years -- - - _ 535 Total 146 54 47,830 + 117 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 15, 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) A S SE T :s | Gold certificate account 10,511j 532 2,551 602 794 991 540 1,916 358 220 440 423 1,144 Redemption fund for F. R. notes 1.892 105 464 _9_8_ 152 171 103 i?q ftfi ii T> 67 ii/ A Total gold certificate reserves 12,403 637 3,015 700 946 1,162 643 2,245 424 251 512 490 1,378 F. R. notes of other Banks 481 48 163 16 25 28 48 24 17 13 26 17 56 Other cash 354 21 40 9 46 22 43 64 33 5 16 14 41 Discounts and advances 146 1 7 1 21 20 1 30 3 6 22 2 32 Acceptances: Bought outright 54 -- 54 — — -- -- -- -- _- -. «.• mm m. Held under repurchase agreements -- —,_ — -- -- -- -- -- .... __ -_ . „ mi mm Federal Agency obligations-- Held under repurchase agreements 5 TJ, S. Government securities: Bought outright-- Bills 14,894 802 3,678 746 1,125 1,069 835 2,458 531 294 576 630 2,150 Certificates -- -- -- -- -- -- -- • - --. — «. ~ — ... Notes 26,804 1 ,442 6,620 1 ,343 2,024 1,924 1 ,503 4,423 955 530 1,037 1 ,135 3,868 Bonds 6.015; 324 1.485 301 454 43? ^7 QQT 71 S 11D 232 255 868 Total 47,713 <2, 568 11,783 2 ,390 3,603 3,425 2 ,675 7,874 1,701 943 1,845 2 ,020 6,886 Held under repurchase agreements 112 | -- 112 __ — — -- — -- -- _- -• --. I Total U. S. Government securities ,568 11,895 2 ,390 3,603 3,425 2 .675 7.874 1.701 943 1.845 2 .020 6.886 47,825 ;2 Total loans and securities 48,030 J2., 569 11,961 2 ,391 3,624 3,445 2 ,676 7,904 1,704 949 1,867 2 ,022 6,918 Cash items in process of collection 10,920 641 1,999 647 804 921 928 1,838 560 361 675 551 995 Bank premises 111 ! 3 10 2 5 7 20 19 9 3 15 9 9 Other assets 1/ 1,428| 56 537 87 105 65 71 170 41 28 51 65 152 _ TOTAL ASSETS 73,727 }3 , 975 17,725 3 ,852 5,555 5,650 4 ,429 12,264 2,788 1,610 3,162 3 ,168 9,549 1/ 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 BANKS ON NOVEMBER 15, 1967 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas JFran- York delphia land mond Louis apolis City Icisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 41,050 2,435 9,568 2,357 3,304 3,769 2,317 7,245 1,503 696 1,538 1,368 4,950 Deposits: Member bank reserves 19,933 788 5,267 815 1,359 938 1,093 3,129 730 510 902 1,185 3,217 U. S. Treasurer--general account 1,183 43 376 48 36 58 106 79 55 50 92 42 198 Foreign 140 6 1/ 44 7 12 7 8 19 4 3 6 7 17 Other 456 * 2/398 2 1 7 1 3 1 1 3 1 38 Total deposits 21,712 837 6,085 872 1,408 1,010 1,208 3,230 790 564 1,003 1,235 3,470 Deferred availability cash items 9,419 627 1,672 544 709 784 809 1,557 442 314 555 481 925 Other liabilities and accrued dividends 284 16 71 13 22 20 16 46 10 7 11 12 40 TOTAL LIABILITIES 72,465 3,915 17,396 3,786 5,443 5,583 4,350 12,078 2,745 1,581 3,107 3,096 9,385 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 102 5 27 5 8 6 7 17 3 1 4 5 14 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 73,727 3,975 17.725 3,852 5.555 5.650 4.429 12,264 . 2.788 _Lili£_ 3.162 3,168 9,549 Contingent liability on ace. eptances purchased for forei- gn correspondents 166 8 3/ 43 9 15 9 10 24 6 4 7 10 21 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,491 10,030 2,412 3,522 3,883 2,420 7,467 1,581 719 1,604 1,482 5,227 Collateral for F. R. notes: Gold certificate account 450 1,000 510 600 555 450 1,400 317 127 225 180 735 Eligible paper U. S. Government securities 2,096 9,200 2,000 3,000 3,350 2,050 6,450 1,370 625 1,400 1.330 4,600 Total collateral 2,546 10,200 2,510 3,600 3,905 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. V After deducting $ 123million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis