H.4.1 Factors Affecting Reserve Balances of Depository Institutions

••iitg8&-. F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release January 4, 1968 The average of daily figures of total member bank reserves held during the week ended January 3, increased $639 million to $26,340 million. Estimated currency and coin of member banks increased $507 million and their reserve balances at the Federal Reserve Banks increased $132 million. Estimated required reserves increased $531 million; and estimated excess reserves increased $108 million to $566 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $71 million, compared with the revised figure of $113 million the week before. Gold stock decreased $452 million to $11,982 million. The principal changes supplying average reserve balances ^ith Federal Reserve Banks were increases of $195 million in U. S. Government securities bought outright, $150 million in member bank borrowings, and $133 million in U. S. Government securities held under repurchase agreements, and a decrease of $434 million in "other" F. R. accounts (net). The principal offsetting changes were a decrease of $116 million in Federal Reserve float, and increases of $240 million in Treasury deposits ,;ith Federal Reserve Banks, and $155 million in "other" deposits v/ith Federal Reserve Banks. Total Reserve Bank credit increased $439 million. As of Wednesday, January 3, 1968, holdings of U. S. Government securities bought outright were $268 million higher than a i/eek earlier, U. S. Government securities held under repurchase agreements were $67 million higher, and member bank borrowings were $142 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 3j Dec. 27, Jan. 4, Jan. 3, and related items 1968 1967 1967 1968 Reserve Bank credit: (In millions of dollars) U. S. Government securities- Bought outright—System account 49,044 +195 +5,347 49,251 Held under repurchase agreements 214 +133 255 Federal Agency obligations- - 292 Held under repurchase agreements 40 + 33 41 Acceptances- + 13 Bought outright 75 - 1 74 Held under repurchase agreements 83 + 44 + 4 90 Discounts and advances- - 49 Member bank borrowings 495 +150 70 199 Other 1 Float 2,272 -116 - 221 2,503 Total Reserve Bank credit 52,224 +439 +4 ,733 52,413 Gold stock 11,982 -452 -1, 177 | 11,984 Treasury currency outstanding 6.784 + 1 + 473 I 6,787 70,991 - 11 +4 ,029 ! 71,184 Currency in circulation 47,200 - 93 +2 ,530 47,154 Treasury cash holdings 1,395 - 10 + 201 1,389 Treasury deposits with F. R. Banks 949 +240 + 574 730 Foreign deposits with F. R. Banks 147 - 3 - 20 161 Other deposits with F. R. Banks 567 +155 + 38 503 Other F* R, accounts (net) -685 -434 - 593 -723 49,573 -145 +2 ,731 49 214 Member bank reserves: With Federal Reserve Banks 21,417 +132 +1 ,301 21, 970 Currency and coin (estimated) 4,923 +507 + 377 5,,2 82 Total reserves held 26,340 +639 +1,678 ! 27,252 Required reserves (estimated) 25,774 +531 +1,507 1 25,732 Excess reserves (estimated) 566 +108 + 171 1 1,520 On January 3, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,112 million, a decrease of $518 million for the week and an increase of $1,999 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

JUL 0.2 1970 H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RE oERVE BANKS (In millions of dollars) Wednesday Change since Jan. 3, Dec. 27, Jan. 4, 1968 1967 1967 A S S E TS Gold certificate account 9,527 - 478 -1,296 Redemption fund for F. R. notes 1,953 + 26 + 100 Total gold certificate reserves (755) 11,480 - 452 -1,196 362 + 8 + 71 Cash Discounts and advances 199 - 142 -- Acceptances: 74 ~_ 5 Bought outright 90 11 58 Held under repurchase agreements -• Federal Agency obligations- Held under repurchase agreements 41 41 U. S. Government securities: Bought outright-- Bills 16,246 + 268 +4,178 Certificates -4,351 Notes 26,918 +5,616 Bonds 6,087 - 112 Total bought outright 49,251 + 268 +5,331 Held under repurchase agreements 255 + 67 + 255 Total U. S. Government securities 49,506 335 +5,586 Total loans and securities 49,910 + 211 +5,564 Cash items in process of collection (2,347) 9,439 + 955 +1,269 Bank premises 112 -- + 5 Other assets \J 2,148 + 332 + 825 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,102) 73,451 +1,054 +6,538 L I A B I L I T I ES Federal Reserve notes (755) 41,614 378 +2,279 Deposits: Member bank reserves 21,970 + 511 +2,470 730 + 378 + 463 U. S. Treasurer—general account Foreign 161 + 30 + 8 Other 2/ 503 + 75 + 57 Total deposits 23,364 + 994 +2,998 Deferred availability cash items (2,347) 6,936 + 557 +1,124 Other liabilities and accrued dividends 317 + 9 + 77 TOTAL LIABILITIES (3,102) 72,231 +1, 182 +6,478 C A P I T AL A C C O U N TS 601 • 7 + 31 Capital paid in 598 + 28 + 28 Surplus 21 - 163 + 1 Other capital accounts Ratio of gold certificate reserves to F* R, note liability (computed from figures as shox^/n on the following pages — not consolidated) 27.1% .9% - 4.4% Contingent liability on acceptances purchased for foreign correspondents 155 - 2 30 * 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 go1d deposit MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 3, 1968 (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 197 101 2,126 -429 16 days to 90 days ? 63 8,546 +711 91 days to 1 year _«. 21,303 + 60 Over 1 year to 5 years -- 16,185 Over 5 years to 10 years -_ 832 o *~ 10 years -- 555 Total 199 164 49,547 -342 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 JANUARY 3, 1968 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 dol!. ars) A S S E TS Gold certificate account 9,527 589 2,250 561 766 789 549 1,678 358 163 349 319 1,156 Redemption fund for F. R. notes 1,953 110 472 102 155 192 107 ^28 67 ^? 75 70 P4^ Total gold certificate reserves 11^80 699 2,722 663 921 981 656 2,0C6 425 195 424 389 1,399 F. R. notes of other banks 755 63 180 52 63 57 78 hi 38 18 32 36 91 Other cash ! 362 : 23 ^3 9 h9 22 42 66 33 4 18 14 39 Discounts and advances 199 20 44 2 1 O ic6 7 2 10 4 •—~ Acceptances: Bought outright 7^ -- 74 -- -.-. -- -- — -- -- -- -- Held under repurchase agreements 90 ; 90 -- -.- „ -- — __ -- -- _- Federal Agency obligations-- Held under repurchase agreements kl 41 U. S. Government securities: Bought outright- Bills \l6,2k6 873 4,111 807 1,197 1,197 886 2,716 583 317 596 733 2,230 Certificates -- i --. -- • -. -_ _- _.— — — Notes 26,918 1 1,446 6,811 1,336 1,984 1,982 1,468 4,501 965 526 989 1,214 3,696 Bonds 1 6,087 1 327 1,540 302 448 448 332 1.018 218 119 224 275 816 Total bought outright !^9,25l 2,61+6 12,462 2,445 3,629 3,627 2,686 8,235 1,766 962 1,809 2,222 6,762 Held under repurchase agreements 255 255 _- _- -_ --. -_. __ — - — — — — Total U. S. Government securities ^9,506 ! 2,646 12,717 2,445 \.62Q \.627 2,686 8.2?5 1,766 Q6P 1..8CQ 2,222 6.76P Total loans and securities :^9,9io : 2,666 12,966 2,447 3,630 3,630 2,686 8,3^1 1,773 964 1,819 2,226 6,762 Cash items in process of collection 11,786 I 6hQ 2,145 677 823 1,031 912 2,007 615 366 736 738 1,088 Bank premises 112 \ 3 10 2 5 7 20 18 9 3 17 9 9 Other assets 1/ 1 2,11+8 | 9^ 729 97 168 108 116 28^ 68 45 8^ 106 251 TOTAL ASSETS 76,553 4,196 18,795 3,9^7 5,659 5,836 4,510 12,768 2,961 1,595 3,129 3,518 9,639 1/ Includes assets denominated ir. foreign currencies and IMF gold deposited Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 3, 1968 H.4.1(c) 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 dollars) L I A B I L I T I ES Federal Reserve notes 42,369 2,504 9,874 2,444 3,404 3,875 2,422 7,404 1,569 717 1,570 1,431 5,155 Deposits: Member bank reserves 21,970 901 6,459 836 1,383 941 1,187 3,438 838 544 903 1,394 3,146 U. S. Treasurer—general account 730 44 41 35 55 102 54 134 32 33 79 23 98 Foreign 161 8 1/ 39 9 15 9 10 24 6 4 7 9 21 Other 503 1 2/460 1 * 8 1 1 1 13 1 25 Total deposits 23,364 954 6,999 881 1,453 1,060 1,252 3,597 877 582 992 1,427 3,290 Deferred availability cash items 9,283 663 1,519 544 670 816 743 1,538 462 258 502 577 991 Other liabilities and accrued dividends 317 16 88 13 23 22 16 51 11 12 14 42 TOTAL LIABILITIES 75,333 4,137 18,480 3,882 5,550 5,773 4,433 12,590 2,919 1,566 3,076 3,449 9,478 CAPITAL ACCOUNTS Capital paid in 601 29 156 32 54 31 38 87 21 14 26 34 79 Surplus 598 29 154 32 54 31 38 87 20 14 26 34 79 Other capital accounts 21 1 5 1 1 1 1 4 1 1 1 1 3 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 76,553 4,196 18,795 3,947 5,659 5,836 4,510 12,768 2,961 1,595 3,129 3,518 9,639 Contingent liability on accept ances purchased for foreign correspondents 3/ 40 14 10 23 20 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 44,306 2,600 10,318 27501 37640 M HO 27551 77685 T76T5 741 T^& l"734~3 5> 4 16 Collateral for F. R. notes: Gold certificate accounts 6,663 450 1,000 525 600 640 450 1,400 331 127 225 180 735 Eligible paper U. S. Government securities 38,606 2,176 9,400 2,100 3,100 3,395 2,150 6,450 1,370 635 1,450 1,380 5,000 Total collateral 45,269 2,626 10,400 2,625 3,700 4,035 2,600 7,850 1,701 762 1,675 1,560 5,735 1/ After deducting $122 million participations of other Federal Reserve Banks. 27 Includes IMF gold deposit. Less than $50,000. 3/ After deducting $115 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis