H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Factors Affecting Bank Reserves and rf*Zu&tS Condition Statement of F.R. Banks H.4.1 For immediate release November 30, 1967 The average of daily figures of total member bank reserves held during the week ended November 29, decreased a net of $10 million to $24,611 million. Estimated currency and coin of member banks increased $212 million and their reserve balances at the Federal Reserve Banks decreased $222 million. Estimated required reserves decreased $116 million; and estimated excess reserves increased $106 million to $323 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $204 million, compared with the revised figure of $90 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks was a decrease of $245 million in Federal Reserve float, and increases of $519 million in Treasury deposits with Federal Reserve Banks, and $258 million in currency in circulation. The principal offsetting changes were an increase of $635 million in U. S. Government securities bought outright, and a decrease of $266 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $306 million. As of Wednesday, November 29, 1967, holdings of U. S. Government securities bought outright were $325 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $42 million higher, and member bank borrowings were $46 million higher. Average of daily figures Member bank reserves, Week ended Change from week ended 1Wednesday, Reserve Bank credit, Nov. 29, Nov. 22, Nov. 30, , Nov. 29, and related items 1967 1967 1966 i 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 48,347 +635 +5,176 48,501 Held under repurchase agreements 47 - 75 - 309 42 Federal Agency obligations- Held under repurchase agreements 2 1 2 2 Acceptances — Bought outright 55 + 3 59 Held under repurchase agreements 61 -- Discounts and advances- Member bank borrowings 119 - 8 - 517 136 Other 14 -- Float 1,532 -245 - 370 1,345 Total Reserve Bank credit 50 ,102 +306 +3,911 50,085 Gold stock 12, 908 + 2 - 322 12,909 Treasury currency outstanding 6 ,785 + 3 + 544 6,789 69 ,795 +311 +4,133 69,783 Currency in circulation 46 ,347 +258 +2,241 46,488 Treasury cash holdings 1 ,457 + 6 + 273 1,462 Treasury deposits with F. R. Banks 1 ,570 +519 +1,014 1,768 Foreign deposits with F. R. Banks 175 + 27 + 13 147 Other deposits with F. R. Banks 432 - 10 + 15 414 Other F. R. accounts (net) -345 -266 - 624 -198 49, 634 +533 +2,930 50,081 Member bank reserves: With Federal Reserve Banks 20, 161 -222 +1,203 19,703 Currency and coin (estimated) 4,4 50 +212 + 182 5,062 Total reserves held 24,611 - 10 +1,385 1 24,765 Required reserves (estimated) 24,288 -116 +1,522 1 24,532 Excess reserves (estimated) 323 +106 - 137 233 On November 29, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,410 million, an increase of $1,004 million for the x^eek and an increase of $1,960 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. 29, Nov. 22, Nov- 30, 1967 1967 1966 A S S E TS Gold certificate account 10,498 - 12 - 354 Redemption fund for F. R. notes 1,895 + 5 + 80 Total gold certificate reserves * 12,393 - 7 - 274 Cash (502) 350 - 7 + 57 Discounts and advances 136 + 46 - 322 Acceptances: Bought outright 59 + 5 + 5 Held under repurchase agreements -- -- 77 Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright- Bills 15,496 + 325 +4,023 Certificates _. -- -4,351 Notes 26,918 -- +5,640 Bonds 6,087 -- - 101 Total bought outright 48,501 + 325 +5,211 Held under repurchase agreements 42 + 42 - 580 Total U. S Government securities 48,543 + 367 +4,631 v Total loans and securities 48,740 + 420 +4,239 Cash items in process of collection (2,010) 7,125 - 582 87 Bank premises 112 + 1 + 9 Other assets 1/ 1,734 - 111 + 582 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,512) 70,454 286 +4,526 L I A B I L I T I ES Federal Reserve notes (502) 40,994 + 128 +2,041 Deposits: Member banks reserves 19,703 . 817 + 610 U. S. Treasurer--general account 1,768 + 835 +1,469 Foreign 147 - 28 - 49 Other 2/ (*) 414 - 18 + 15 Total deposits (*) 22,032 - 28 +2,045 Deferred availability cash items (2,010) 5,780 - 430 + 348 Other liabilities and accrued dividends 301 -__ 2_ + 30 TOTAL LIABILITIES (2,512) 69,107 332 +4,464 C A P I T AL A C C O U N TS + 24 Capital paid in 592 2 + 19 Surplus 570 + 19 Other capital accounts 185 - 44 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 29.97o .1% - 2.17o Contingent liability on acceptances purchased for foreign correspondents 153 10 - 50 * Figures in parentheses are the eliminations made in the consolidating process. jL/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. . MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 29, 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 Agen cy obligations advane 2(S Acee ptances Holdings Hi^ ekly changes Within 15 days 132 12 2,237 +192 16 days to 90 days 4 47 7,569 +102 91 days to 1 year -- -- 20,998 + 75 Over 1 year to 5 years • - -« 16,258 „ Over 5 years to 10 years -- --. 928 „ Over 10 years — -- 555 -- Total 136 59 48,545 +369 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

[.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 29, 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 10,498 674 2,481 583 806 966 627 1,851 425 157 339 326 1,263 Redemption fund for F. R. notes 1,895 105 463 99 152 175 102 329 66 31 72 67 234 Total gold certificate reserves 12,393 779 2,944 682 958 1,141 729 2,180 491 188 411 393 1,497 F. R. notes of other Banks 502 41 164 20 30 28 48 28 20 12 30 19 62 Other cash 350 22 44 7 44 21 41 64 33 4 17 14 39 Discounts and advances 136 3 * 27 4 6 15 15 27 12 1 10 3 13 Acceptances: 3ought outright 59 -- 59 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements — - -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Held under repurchase agreements 2 U. S. Government securities: Bought outright-- Bills 15,496 800 4,037 776 1,172 1,109 820 2,455 553 309 599 656 2,210 Certificates -- -- -- -- -- — — -- -- -- -- -- -- Notes 26,918 1 ,390 7,013 1 ,348 2,037 1,926 1 ,425 4,265 959 537 1,041 1 ,139 3,838 Bonds 6,087 314 1,586 305 460 436 322 965 217 121 235 258 868 Total 48,501 2 ,504 12,636 2 ,429 3,669 3,471 2 ,567 7,685 1,729 967 1,875 2 ,053 6,916 Held under repurchase agreements 42 .. 42 -- -- -- -- --. -- __ -- - _ - - Total U. S. Government securities 48,543 2 ,504 12,678 2 ,429 3,669 3,471 2 .567 7,685 1,729 967 1,875 2 ,053 6,916 Total loans and securities 48,740 2 ,507 12,766 2 ,433 3,675 3,486 2 ,582 7,712 1,741 968 1,885 2 ,056 6,929 Cash items in process of collection 9,135 610 1,651 547 661 705 811 1,483 456 312 587 490 822 Bank premises 112 3 10 2 5 7 20 19 9 3 16 9 9 Other assets ±/ 1,734 72 622 82 134 85 91 215 52 36 66 84 195 TOTAL ASSETS 72,966 4 ,034 18,201 3 ,773 5,507 5,473 4 ,322 11,701 2,802 1,523 3,012 3 ,065 9,553 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 BANK NOVEMBER 29, 1967 San New Phila Cleve Rich St. Minne Kans as Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In mil]. ions of dollars)i L I A B I L I T I ES Federal Reserve notes 41,496 2,468 9,663 2,396 3,346 3,806 2,354 7,302 1,521 699 1,548 1,385 5,008 Deposits: Member bank reserves 19,703 831 5,477 785 1,342 849 1,074 2,785 736 475 848 1,129 3,371: U. S. Treasurer--general account 1,768 73 829 56 82 104 82 100 109 44 75 42 171 Foreign 147 7 1/ 43 7 13 7 9 20 5 4 6 8 18 Other 414 1 2/378 1 * 6 1 1 1 * 3 2 20 Total deposits 22,032 912 6,727 849 1,437 966 1,166 2,906 851 523 932 1,181 3,582 Deferred availability cash items 7,790 574 1,379 442 582 607 703 1,246 374 263 462 411 747 Other liabilities and accrued dividends 301 15 82 15 24 20 16 47 10 7 12 13 40 TOTAL LIABILITIES 71,619 3,969 17,851 3,702 5,389 5,399 4,239 11,501 2,756 1,492 2,954 2,990 9,3-7 CAPITALACCOUNTS Capital paid in 592 29 154 31 53 31 37 86 20 14 26 34 77 Surplus 570 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 185 9 48 10 14 13 11 31 6 3 7 8 25 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 72,966 4,034 18,201 3,773 _j,,507_ 5,47_3 4,322 _11,701 2,802 1,523 3,012 3,065 9,553 Contingent liability on accept ances purchased for foreign correspondents 153 7 3/ 40 8 14 8 9 22 5 4 7 9 20 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 43,285 2,527 10,105 2,464 3,573 3,924 2,454 7,556 1,594 724 1,614 1,501 5,249 Collateral for F, R. notes: Gold certificate account 6,589 450 1,000 510 600 595 450 1,400 317 127 225 180 735 Eligible paper -- -- -- -- -- -- -- — -- -- -- -- — U. S. Government securities 37.941 2,096 9,200 2,000 3,000 3,370 2,050 6,450 1,370 e:.5 1,?80 5,000 Total collateral 44,530 2,546 10,200 2,510 3,600 3,965 2,500 7,850 1,6S7 7i2 1,625 1,500 5,735 \J After deducting $104 million participations of other Federal Preserve Banks, 2/ Includes IMF gold deposit. * Less than $-500,OoO. 3>/ After deducting $113 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis