H.4.1 Factors Affecting Reserve Balances of Depository Institutions

ot£2ft»V F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks "'"f^iv&T-" H.4,1 For immediate release December 14, 1967 The average of daily figures of total member bank reserves held during the week ended December 13, decreased a net of $160 million to $24,695 million. Estimated currency and coin of member banks increased $103 million and their reserve balances at the Federal Reserve Banks decreased $263 million. Estimated required reserves decreased $171 million; and estimated excess reserves increased $11 million to $308 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $187 million, compared with the revised figure of $210 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $172 million in U, S. Government securities held under repurchase agreements, and increases of $438 million in currency in circulation, and $71 million in "other" F. R. accounts (net). The principal offsetting changes were increases of $134 million in U. S. Government securities bought outright, and $61 million in acceptances held under repurchase agreements, and a decrease of $519 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $32 million. As of Wednesday, December 13, 1967, holdings of U. S. Government securities and those held under repurchase agreements were unchanged from a week earlier, and member bank borrowings ,;ere $32 million higher. Averages of daily f:Le ures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 13, Dec. 6, Dec. 14, Dec. 13, and related items 1967 1967 1966 1 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 48,853 +134 +5,661 48,853 Held under repurchase agreements -- -172 - 317 -- Special Certificates -- -- 72 -- Federal Agency obligations-- Held under repurchase agreements -- - 11 16 Acceptances-- Bought outright 69 + 7 + 8 69 Held under repurchase agreements 75 + 61 + 26 66 Discounts and advances-- Member bank borrowings 121 + 34 - 526 156 Other -- -- 21 -- Float 1,636 - 19 - 396 1,676 Total Reserve Bank credit 50,753 + 32 +4,346 50,820 Gold stock 12,432 -339 - 726 12,434 Treasury currency outstanding 6,773 - 3 + 490 6,772 69,958 -310 +4,111 70,026 Currency in circulation 46,918 +438 +2,315 47,103 Treasury cash holdings 1,445 -- + 246 1,455 Treasury deposits with F. R. Banks 787 -519 + 660 658 Foreign deposits with F. R. Banks 140 - 20 41 136 Other deposits with F. R. Banks 427 - 17 + 15 440 Other F. R. accounts (net) 6 + 71 - 57 -214 49,723 - 47 +3,138 49,578 Jlember bank reserves: With Federal Reserve Banks 20,235 -263 + 973 20,448 Currency and coin (estimated) 4,460 +103 + 204 5,121 Total reserves held 24,695 -160 +1,177 25,569 Required reserves (estimated) 24,387 -171 +1,379 24,693 Excess reserves (estimated) 308 + 11 - 202 876 On December 13, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,698 million, a decrease of $605 million for the week and an incre ase of $1,319 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 Dec. 13, Bac. «». Dec. 14, 1967 1967 1966 A S S E TS Gold certificate account 9,982 — 31 - 839 Redemption fund for F. R. notes 1,928 + 26 + 92 Total gold certificate reserves * 11,910 - 5 - 747 Cash (467) 358 + 9 + 69 Discounts and advances 156 + 32 - 191 Acceptances: Bought outright 69 -.- + 5 Held under repurchase agreements 66 + 17 + 19 Federal Agency obligations-- Held under repurchase agreements 24 U. S. Government securities: Bought outright-- Bills 15,848 -- +4,473 Certificates -- -- -4,351 Notes 26,918 -- +5,640 Bonds 6.087 -- - 101 Total bought outright 48,853 __ +5,661 Held under repurchase agreements - - „ _ - 34S Total U. S. Government securities 48,853 -- +5,316 Total loans and securities 49,144 + 49 +5,125 Cash items in process of collection (1,981) 8,065 + 414 + 205 Bank premises 111 -- + 7 Other assets 1/ 1,671 + 166 + 331 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (2,448) 71,259 +_ 633 +4,990 Federal Reserve notes (467) 41,620 + 301 +2,162 Deposits: Member bank 20,448 + 504 +1,750 U. S. Treasurer--general account 658 - 372 + 385 Foreign 136 - 9 30 Other 2/ 440 -- + 26 Total deposits 21,682 +~ 123 +2,131 Deferred availability cash items (1,981) 6,389 + 347 + 593 Other liabilities and accrued dividends 307 - 10 + 52 TOTAL LIABILITIES (2,448) 69,998 + 761 +4,938 C A P I T AL A C C O U N TS .. Capital paid in 591 + 22 Surplus 570 -- + 19 Other capital accounts 100 128 + 11 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 28.37 .27o - 3,37, 0 Contingent liability on acceptances purchased for foreign correspondents 146 + 2 - 57 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 13^1967 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements) U. S. Governmej&t securities and Discounts and Federal Agency obligations advances Acee £t ances Holdings We ekly changes Within 15 days 154 77 1,949 + 67 16 days to 90 days 2 58 8,124 -142 91 days to 1 year -- -• 21,039 + 75 Over 1 year to 5 yearss -* 16,258 -- Over 5 years to 10 yeaarrss -- 928 -- Over 10 years *** _- 555 --_ z Total 156 135 48,853 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 13, 1967 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A _s s_ :E T £ 9,982 716 2,295 511 827 827 598 1,760 366 168 382 331 1,201 Gold certificate account Redemption fund for F. R. notes 1.928 108 473 99 156 179 107 329 67 33 72 67 238 Total gold certificate reserves 11,910 824 2,768 610 983 i,oc6 705 2,089 433 201 454 398 1,439 F. R. notes of other banks ^67 39 158 17 28 28 45 25 15 10 24 18 60 Other cash 358 22 44 8 46 23 42 64 33 4 17 15 40 Discounts and advances 156 23 28 2 3 * 4 45 5 - 21 * 24 Acceptances: Bought outright 69 — 69 -- -- -- -- -- -- -- -- —— — - Held under repurchase agreements 66 -- 66 -- — —— — - — - -- — — "" — — — am m. Federal Agency obligations Held under repurchase agreements -- U, S. Government securities: Bought outright-- Bills 15,848 8c8 3,9H 823 1,196 1,189 869 2,579 579 305 598 669 2,322 Certificates -- — — — — -- — -- -- " -~ "- Notes 26,918 1,373 6,642 1,399 2,032 2,019 1,476 4,381 983 518 1,015 1,136 3,9^ Bonds 6,087 311 1,501 316 46o 457 333 991 222 117 230 257 892 Total bought outright 48,853 2,492 12,054 2,538 3,688 3,665 2,678 7,951 1,784 9^0 1,«43 2,062 7,158 Held under repurchase agreements -- — -- -- — -- -- -- -- -- «.- -- — — Total U. S. Government securities , 48.8<^ 2.492 12,054 2,538 3,688 3,665 2,678 7,951 1,784 940 1,843 2,062 7,158 Total loans and securities 1+9,144 2,515 12,217 2,540 3,691 3,665 2,682 7,996 1,789 94l 1,864 2,062 7,182 Cash items in process of collection 10,046 611 1,882 584 681 801 924 1,597 544 333 631 531 92T Bank premises ill 3 10 2 5 7 20 18 9 3 16 9 Q Other assets 1/ 1.671 70 603 78 125 82 86 211 51 34 62 79 190 TOTAL ASSETS 73,707 4,084 17,682 3,839 5,559 5,612 4,504 12,000 2,874 1,526 3,068 3,112 9,847 JL/ 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

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 13, 1967 San New Phila Cleve Rich St. Minne Kans as 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 42,087 2,495 9,784 2,435 3,405 3,864 2,409 7,370 1,557 711 1,568 1,406 5,083 Deposits: Member bank reserves .20,448 901 5,437 792 1,362 929 1,147 3,001 791 479 884 1,138 3,587 U-, S. Treasurer--general account 658 38 106 31 43 57 38 92 42 23 52 42 94 Foreign 136 7 1/ 32 7 13 7 9 21 5 3 6 8 18 Other 440 * 2/389 1 * 8 1 2 1 1 3 2 32 Total deposits 21,682 946 5,964 831 1,418 1,001 1,195 3,116 839 506 945 1,190 3,731 Deferred availability cash items 8,370 567 1,530 491 601 657 804 1,279 424 273 487 432 825 Other liabilities and accrued dividends 307 15 76 16 24 23 17 49 11 6 13 13 44 TOTAL LIABILITIES 72,446 4,023 17,354 3,773 5,448 5,545 4,425 11,814 2,831 1,496 3,013 3,041 9,683 CAPITAL ACCOUNTS Capital paid in 591 29 154 31 52 31 37 87 20 14 26 34 76 Surplus 570 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 100 5 26 5 8 6 7 16 3 2 4 4 14 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 73.707 4.084 17.682 3,839 5.559 5,612 4.504 12.000 2.874 1.526 3.068 3.112 9.847 Contingent liability on accept ances purchased for foreign correspondents 146 7 3/ 38 8 13 8 9 21 5 4 6 8 19 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 43,858 2,556 10,255 2,474 3,618 3,982 2,519 7,605 1,632 741 1,625 1,500 5,351 Collateral for F. R. notes: Gold certificate accounts 6,632 450 1,000 510 600 620 450 1,400 335 127 225 180 735 Eligible paper -- -- -- -- -- -- -- -- -- -- -- -- -- U. S. Government securities 38,411 2,136 9,400 2,000 3.100 3,400 2,100 6.450 1.370 625 1,450 1,380 5.000 Total collateral 45,043 2,586 10,400 2,510 3,700 4,020 2,550 7,850 1,705 752 1,675 1,560 5,735 2/ After deducting $104 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 108 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis