H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bank Reserves and **?f*Au&*y Condition Statement of F.R. Banks H.4.1 For immediate release December 7, 1967 The average of daily figures of total member bank reserves held during the week ended December 6, increased a net of $208 million to $24,855 million. Estimated currency and coin of member banks decreased $89 million and their reserve balances at the Federal Reserve Banks increased $297 million. Estimated required reserves increased $267 million; and estimated excess reserves decreased $59 million to $315 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $228 million, compared with the revised figure of $255 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $372 million in U. S. Government securities bought outright, $125 million in U. S. Government securities held under repurchase agree ments, and $83 million in Federal Reserve float, and a decrease of $264 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $280 million in "other11 F. R. accounts (net), and $133 million in currency in circulation. Total Reserve Bank credit increased $579 million. As of Wednesday, December 6, 1967, holdings of U. S. Government securities bought outright were $352 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $42 million lower, and member bank borrowings were $12 million lower. Average of daily figs ures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 6, Nov. 29, Dec. 7, Dec. 6, and related items 1967 1967 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 48,719 +372 +5,407 48,853 Held under repurchase agreements 172 +125 - 299 ~~ Federal Agency obligations-- Held under repurchase agreements 11 + 9 + 2 -- Acceptances- Bought outright 62 + 7 + 6 69 Held under repurchase agreements 14 + 14 - 62 49 Discounts and advances- Member bank borrowings 87 - 32 - 362 124 Other -- -- 13 -- Float 1,631 + 83 - 383 1,589 Total Reserve Bank credit 50,696 +579 +4,297 50,684 Gold stock 12,771 -137 - 387 12,434 Treasury currency outstanding 6,776 - 9 + 524 6,773 70,243 +433 +4,434 69,891 Currency in circulation 46,480 +133 +2,270 46,822 Treasury cash holdings 1,445 - 12 + 257 1,441 Treasury deposits with F. R. Banks 1,306 -264 + 854 1,030 Foreign deposits with F. R. Banks 160 - 15 2 145 Other deposits with F. R. Banks 444 + 12 + 29 440 Other F. R. accounts (net) -65 +280 - 320 90 49,770 +136 +3,088 49,968 Member bank reserves: With Federal Reserve Banks 20,473 +297 +1,347 19,924 Currency and coin (estimated) 4,382 - 89 + 320 4,651 Total reserves held 24,855 +208 +1,667 24,575 Required reserves (estimated) 24,540 +267 +1,533 24,534 Excess reserves (estimated) 315 - 59 + 134 1 41 On December 6, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign recount were $9,303 million, a decrease of $107 million for the we^V m»a an increase of $1,950 mi 11 Ion fxovi the .C<>I»I>*VMM..<* dm-^ a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1( )/< CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS a (In millions of dollars) Wednesday Change since Dec. 6, Nov. 29, Dec. 7, 1967 1967 1966 A S S E TS Gold certificate account 10,013 - 485 - 826 Redemption fund for F. R. notes 1,902 + 7 + 78 Total gold certificate reserves * 11,915 - 478 - 748 Cash (484) 349 - 1 + 65 Discounts and advances 124 12 - 234 Acceptances: Bought outright 69 + 10 + 10 Held under repurchase agreements 49 + 49 - 18 Federal Agency obligations-- Held under repurchase agreements 21 U S, Government securities: Bought outright- Bills 15,848 + 352 +4,323 Certificates -- -- -4,351 Notes 26,918 -- +5,640 Bonds 6,087 -- - 101 Total bought outright 48,853 + 352 +5,511 Held under repurchase agreements -- 42 - 341 Total U. S. Government securities 48,853 + 310 +5,170 Total loans and securities 49,095 + 355 +4,907 Cash items in process of collection (1,963) 7,631 + 497 + 756 Bank premises 111 - 1 + 8 Other assets 1/ 1,505 - 229 + 195 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,447) 70,606 +_ 143 +5,183 L I A B I L I T I ES Federal Reserve notes (484) 41,319 + 325 +2,100 Deposits: Member banks reserves 19,924 + 212 +1,326 U. S. Treasurer—general account 1,030 - 738 + 833 Foreign 145 - 2 60 Other 2/ 440 + 26 + 34 Total deposits 21,539 - 502 +2,133 Deferred availability cash items (1,963) 6,042 + 262 + 830 Other liabilities and accrued dividends 311 + _16. db 54 TOTAL LIABILITIES (2,447) 69,217 + 101 +5,117 C A P I T AL A C C O U N TS Capital paid in 591 + 22 Surplus 570 + 19 Other capital accounts 228 43 + 25 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 28.5% 1.4% 3.3% Contingent liability on acceptances purchased for foreign correspondents 144 62 * Figures in parentheses are the eliminations made in the consolidating process. If Includes assets denominated in foreign currencies and IMF gold deposited. JV Includes IMF'_. gold deposit. MATURITY DISTRIBUTION OF .LOANS AND SECURITIES, DECEMBER 6, 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 121 61 1,882 -355 16 days to 90 days 3 57 8,266 +697 91 days to 1 year 20,964 - 34 Over 1 year to 5 years 16,258 Over 5 years to 10 years 928 Over 10 years 555 — Total 124 118 48,853 +308 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 DECEMBER 6, 1967 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dol ars) A S, S E T S Gold certificate account 10,013 600 2,167 584 806 974 577 1,796 418 154 382 349 1,206 Redemption fund for F. R. notes 1,902 108 463 100 156 171 102 125- 68 —LL. _6_L 22k. Total gold certificate reserves 11,915 708 2,630 684 962 1,145 679 2,125 486 185 455 416 1,440 F. R. notes of other Banks 484 42 154 22 31 25 52 29 17 11 22 18 61 Other cash 349 22 46 7 43 22 40 63 32 4 17 14 39 Discounts and advances 124 3 18 10 1 1 1 22 1 6 5 * 56 Acceptances: Bought outright 69 69 Held under repurchase agreements 49 49 Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright- Bills 15,848 859 3,834 823 1,259 1,189 888 2,610 562 318 606 661 2,239 Certificates Notes 26,918 1,459 6,513 1,399 2,137 2,019 1,509 4,432 955 540 1,029 1,122 3,804 Bonds 6,087 330 1,473 316 484 457 341 1,002 216 122 232 254 860 Total 48,853| 2,648 11,820 2,538 3,880 3,665 2,738 8,044 1,733 980 1,867 2,037 6,903 Held under repurchase agreements Total U. S. Government securities 48,853 2.648 11.820 2,538 3.880 3,665 2,7.38 8,044 1,733 980 -Ua&Z—2^.037. 6„903.. Total loans and securities 49,095 2,651 11,956 2,548 3,881 3,666 2,739 8,066 1,734 986 1,872 2,0-7 6,959 Cash items in process of collection 9,594 620 1,739 558 703 749 802 1,548 511 319 606 55C 889 Bank premises 111 3 10 2 5 7 20 18 9 3 16 c 9 Other assets J7 1.505 61 559 71 LU Z3_ 76 187 4S 30 54 .. 7f .166 TOTAL ASSETS 73,053 4,107 17,094 3,892 5,738 5,687 4,408 12,036 2,834 1,538 3,042 3,114 9,563 1_/ 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

11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 6, 1967 San New Phila Cleve Rich St. Minne Kansas Total Boston At1ant a 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 41,803 2,480 9,741 2,405 3,370 3,840 2,380 7,331 1,542 705 1,560 1,394 5,055 Deposits: Member bank reserves 19,924 876 5,002 878 1,518 978 1,133 3,018 775 490 846 1,109 3,301 U. S. Treasurer—general account 1,030 62 140 52 73 117 82 130 56 33 86 52 147 Foreign 145 7 1/ 41 7 13 7 9 20 5 4 6 8 18 Other 440 1 2/384 1 * 8 1 3 1 * 3 2 36 Total deposits 21,539 946 5,567 938 1,604 1,110 1,225 3,171 837 527 941 1,171 3,502 Deferred availability cash items 8,005 598 1,344 459 618 637 701 1,276 397 266 469 459 781 Other liabilities and accrued dividends 317 16 81 17 25 23 17 51 11 8 12 13 43 TOTAL LIABILITIES 71,664 4,040 16,733 3,819 5,617 5,610 4,323 11,829 2,787 1,506 2,982 3,037 9,381 CAPITAL ACCOUNTS Capital paid in 591 29 154 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 228 11 59 12 17 16 13 38 7 4 9 10 32 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 73,053 4,107 17,094 3.892 5.738 5.687 4.408 12,036 2.834 1.538 3.042 3.114 9.563 Contingent liability on ace. eptances purchased for forei- gn correspondents 144| 7 3/ 38 7 13 8 9 21 5 3 6 8 19 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 10,177 2,468 3,594 3,949 2,485 7,567 1,599 729 1,625 1,494 5,301 Collateral for F. R. notes: Gold certificate accounts 1,000 510 600 620 450 1,400 325 127 225 180 735 Eligible paper U. S. Government securities 9,300 2,000 3,100 3,3_70_ 2,050 6,450 1,370 625 1,450 1.380 -Sj.QOO Total collateral 2,586 10,300 2,510 3,700 3,990 2,500 7,850 1,695 752 1,675 1,560 5,735 JV After deducting $104 million participations of other Federal Reserve Banks, 2J Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $106 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis