H.4.1 Factors Affecting Reserve Balances of Depository Institutions

>:$£g&ti>. F E D E R AL R E S E R VE Factors Affecting Bank Reserves and ''•f^mt' Condition Statement of F.R. Banks H.4.1 For immediate release November 24, 1967 The average of daily figures of total member bank reserves held during the week ended November 22, decreased a net of $69 million to $24,606 million. Estimated currency and coin of member banks increased $29 million and their reserve balances at the Federal Reserve Banks decreased $98 million. Estimated required reserves increased $217 million; and estimated excess reserves decreased $286 million to $219 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $92 million, compared with the revised figure of $343 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $35 million in member bank borrowings, and $31 million in U. S. Government securities held under repurchase agreements, and increases of $211 million in currency in circulation, and $161 million in "other" F. R. accounts (net). The principal offsetting change was an increase of $280 million in Federal Reserve float. Total Reserve Bank credit increased $216 million. As of Wednesday, November 22, 1967, holdings of U. S. Government securities bought outright were $463 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $112 million lower, and member bank borrowings were $56 million lower. Outright holdings of bills, notes, and bonds increased $277 million, $114 million, and $72 million, respectively. Average. of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov, 22, Nov. 15, 1 Nov. 23, Nov. 22, and related items 1967 1967 1 1966 1967 (Iri millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 47,712 - 1 +4,753 48,176 Held under repurchase agreements 122 - 31 + 104 -- Federal Agency obligations- Held under repurchase agreements 3 + 1 + 3 — Acceptances-- Bought outright 54 _„ + 2 54 Held under repurchase agreements -- — - 33 -- Discounts and advances-- Member bank borrowings 127 - 35 - 312 90 Other -- -- 16 -- Float 1,767 +280 - 683 1,490 Total Reserve Bank credit 49,786 +216 +3,819 49,810 Gold stock 12,906 - 1 - 351 I 12,909 Treasury currency outstanding 6,782 -- + 552 1 6,782 69,474 +215 +4,020 i 69,501 Currency in circulation 46,089 +211 +2,213 | 46,343 Treasury cash holdings 1,451 - 19 + 271 1 1,457 Treasury deposits with F. R. Banks 1,051 - 45 + 344 933 Foreign deposits with F. R. Banks 148 + 15 -- 175 Other deposits with F. R. Banks 442 - 9 + 33 432 Other F. R. accounts (net) -79 +161 - 337 - 352 49,101 +312 +2,522 | 48,988 Member bank reserves: With Federal Reserve Banks 20,372 - 98 +1,497 20,513 Currency and coin (estimated) 4,234 + 29 + 186 I 4,729 Total reserves held 24,606 - 69 +1,683 25,242 Required reserves (estimated) 24,387 +217 +1,648 24,393 Excess reserves (estimated) 219 -286 + 35 849 On November 22, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,406 million, an increase of $373 million for the week and an increase of $1,107 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) CON^OtiDATfcd STATEMENT OF CONDt tioN OF AtL FEDERAL RfeJERVfc BANKS (In millions of dollars) Wednesday; Change since Nov.22, Nov.15, Nov.23, 1967 1967 1966 A S S E TS Gold certificate account 10,510 1 - 439 Redemption ^und for F. R. notes 1,890 2 •1- 77 Total gold certificate reserves 12,400 3 - 362 Cash (451) 357 3 + 58 Discounts and advances 90 56 - 302 Acceptances: Bought outright 54 __ -1- 3 Held under repurchase agreements -- -- 32 Federal Agency obligations- Held under repurchase agreements u S. Government securities: Bought outright-- Bills 15,171 - 277 +4,155 Certificates -- -- -4,351 Notes 26,918 -;- 114 +5^.640 Bonds 6,087 +_ 12 - 101 Total bought outright 48,176 + 463 +5,343 Held under repurchase agreements __ - 112 - 129 Total U. S. Government securities 48.176 + 351 +5.214 Total loans and securities 48,320 + 290 +4,883 Cash items in process of collection (2,054) 7,700 904 + 525 Bank premises 111 -- + 8 Other assets J7 1.845 + 417 + 719 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2, 505) 70,733 - 197 +5.831 L I A B I L I T I ES Federal Reserve notes (451) 40,866 4- 297 +2,037 Deposits: Member bank reserves 20,513 + 542 +2,520 U. S. Treasurer--general account 933 - 250 + 408 Foreign 175 + 35 + 29 Other 2/ 432 - 24 ± m Total deposits 22,053 303 +2,985 ••;- Deferred availability cash items (2,054) 6,210 - 855 + 690 Other liabilities and accrued dividends 303 !- 19 + 66 TOTAL LIABILITIES (2,505) 69,432 - 236 +5,778 C A P I T AL A C C O U N T S. Capital paid in 590 _ _ + 23 Surplus 570 -- + 19 Other capital accounts 141 39 + 11 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 30.0% .27o - 2.4% Contingent liability on acceptances purchased for foreign correspondents 163 3 - 43 * Figures in parentheses are the eliminations made in the consoild ating process, 1/ Includes assets denominated in foreign currencies and IMF goldd eposited. 2/ Includes IMF gold deposit, . MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 22,1967 (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 Ageni cy obligations advances Acceptances Holdings /Jeekly changes Within 15 days 85 10 2,045 - 83 16 days to 90 days 5 44 7,467 -1-827 91 days to 1 year -- -• 20,923 -584 Over 1 year to 5 yearss -• 16,258 -hi 21 Over 5 years to 10 yeaarrss -« 928 + 45 Over 10 years -- «-- 555 -I- 20 Total 90 54 48,176 +346 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 22, 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 10,510 681 2,409 621 1,069 811 637 1,758 347 173 405 278 1,321 Redemption fund for F. R. notes 1,890 105 464 98 152 168 103 330 66 31 72 67 234 Total gold certificate reserves 12,400 786 2,873 719 1,221 979 740 2,088 413 204 477 345 1,555 F. R. notes of other Banks 451 39 145 17 27 28 50 26 16 12 25 18 48 Other cash 357 23 45 8 45 21 42 64 33 5 16 14 41 Discounts and advances 90 1 60 1 1 3 1 11 2 2 8 - — — w. Acceptances: Bought outright 54 -- 54 -- -- -- -_- __ -- __ -_ --. Held under repurchase agreements -- -- -- -- -- — -- -- -- -- — - - ... Federal Agency obligations-- Held under repurchase agreements -- U. S. Government securities: Bought outright-- Bills 15,171 759 3,828 760 1,094 1,145 803 2,520 541 303 587 642 2,189 Certificates -- -- -- -- -- -- — «. «... .. •• •• — m. • Notes 26,918 1 ,347 6,793 1 ,348 1,940 2,032 1 ,425 4,472 959 537 1,041 1 ,139 3,885 Bonds 6,387 305 .1,536 305 439 460 322 1,011 217 121 235 258 878 Total 48,176 2 ,411 12,157 2 ,413 3,473 3,637 2 ,550 8,003 1,717 961 1,863 2 ,039 6,952 Held under repurchase agreements -- -- ._ -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities: 48,176 2 ,411 12,157 2 ,413 3,474 3,637 2 ,550 8,003 1,717 961 1,863 2 ,039 6,952 Total loans and securities 48,320 2 ,412 12,271 2 ,414 3,374 3,640 2 ,551 8,014 1,719 963 1,871 2 ,039 6,952 Cash items in process of collection 9,754 667 1,696 585 719 773 874 1,561 507 321 599 564 888 Bank premises 111 3 10 2 4 7 20 19 9 3 16 9 9 Other assets 1/ 1.845 77 653 84 143 89 98 233 56 40 70 97 ?10 TOTAL ASSETS 73,238 4 ,007 17,693 3 ,829 5,633 5,537 4 ,375 12,005 2,753 1,548 3,074 3 ,081 9,703 17 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 22, 1967 New Phila Cleve Rich St. Minne Kans as San Total ;Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 41,317 2,455 9,653 2,382 3,330 3,779 2,327 7,293 1,514 696 1,537 1,374 4,977 Deposits: Member banks reserves 20,513 802 5,605 829 1,458 926 1,124 2,981 756 505 876 1,083 3,568 U. S. Treasurer--general account 933 26 221 30 62 63 55 156 42 33 110 46 89 Foreign 175 7 1/ 64 8 13 8 9 22 5 4 7 9 19 Other 432 1 2/383 2 16 2 1 1 1 1 33 Total deposits 22,053 836 6,273 869 1,534 1,003 1,190 3,160 804 542 994 1,139 3,709 Deferred availability cash items 8,264 638 1,348 495 633 663 761 1,310 380 274 475 483 804 Other liabilities and accril ed dividends 303 15 80 15 22 22 16 49 10 6 12 12 44 TOTAL LIABILITIES 71,937 3,944 17,354 3,761 5,519 5,467 4,294 11,812 2,708 1,518 3,018 3,008 9,534 CAPITAL ACCOUNTS Capital paid in 590 29 154 31 53 30 37 86 20 14 26 34 76 Surplus 570 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 141 7 37 7 10 10 9 24 5 2 5 6 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 73,238 A>°_27 _ 17,693 3,829 5,633 5,537 4,375 12,005 2,753 1,548 3,074 3,081 9,703 Contingent: liability on acee ptances purchased for forei correspondents 163 8_ 3/ 42 9_ 15 8_ 10 24_ 6_ 4 7 9 21 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,507 10,096 2,430 3,549 3,890 2,420 7,531 1,588 717 1,600 1,489 5,215 Collateral for F. R. notes Gold certificate account 450 1,000 510 600 595 450 1,400 317 127 225 180 735 Eligible paper U. S, Government securities 2.096 9.200 2,000 3,000 3,340 2,050 6,450 1,370 625 1,400 1,330 4,600 Total collateral 2,546 10,200 2,510 3,600 3,935 2,500 7,850 1,687 752 1,625 1,510 5,335 y After deducting $m million participations of other Federal Reserve Banks, 2LI Includes IMF gold deposit. * Less than $500,000. y After deducting $ 121 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis